In March 2005, total assets of the banking sector amounted to 678 billion euro on an unconsolidated basis (+3.9% qoq). In other words, total banking sector assets grew by 3.9% compared to the fourth quarter of 2004, which is among other things attributable to a rise in international business.
The cost-income ratio improved to 64% on an unconsolidated basis owing to reduced costs and higher income. The unconsolidated operating profit increased in the first quarter of 2005 by 13% year-on-year to 1.34 billion euro.