The following tables show information regarding our business segments. The criterion for segmentation into divisions is our organizational structure as it existed at December 31, 2003. We prepared these figures in accordance with our management reporting systems.
| 2003 | Corporate and Investment Bank | Private Clients and Asset Management | Corporate Investments | Total Management Reporting | Consolidation & Adjustments | Total Consolidated |
| in € m. (except percentages) | ||||||
| Net revenues2 | 14,180 | 8,226 | (916) | 21,490 | (222) | 21,268 |
| Provision for loan losses | 752 | 325 | 36 | 1,113 | – | 1,113 |
| Provision for off-balance sheet positions | (45) | (3) | (2) | (50) | – | (50) |
| Total provision for credit losses | 707 | 321 | 35 | 1,063 | ||
| Operating cost base1 | 9,961 | 6,698 | 681 | 17,340 | ||
| Policyholder benefits and claims | – | 21 | – | 21 | 89 | 110 |
| Minority interest | 13 | 15 | (31) | (3) | – | (3) |
| Restructuring activities | (29) | – | – | (29) | – | (29) |
| Goodwill impairment | – | – | 114 | 114 | – | 114 |
| Total noninterest expenses3 | 9,946 | 6,734 | 763 | 17,442 | 7 | 17,449 |
| Income (loss) before income taxes4 | 3,527 | 1,172 | (1,714) | 2,984 | (228) | 2,756 |
| Add (deduct) | ||||||
| Net (gains)/losses from | (583) | (51) | 141 | (494) | ||
| businesses sold/held for sale | ||||||
| Significant equity pick-ups/net | – | – | 938 | 938 | ||
| (gains)/losses from investments | ||||||
| Net (gains)/losses on securities | – | – | 184 | 184 | ||
| available for sale /industrial | ||||||
| holdings including hedging | ||||||
| Net (gains)/losses on the sale of premises | – | – | 107 | 107 | ||
| Restructuring activities | (29) | – | – | (29) | ||
| Goodwill impairment | – | – | 114 | 114 | ||
| Underlying pre-tax profit (loss) | 2,914 | 1,119 | (232) | 3,802 | ||
| Cost/income ratio in % | 70 | 82 | N/M | 81 | N/M | 82 |
| Underlying cost/income ratio in % |
73 | 82 | 150 | 78 | ||
| Assets5 | 681,722 | 124,606 | 18,987 | 795,818 | 7,796 | 803,614 |
| Risk-weighted positions | 137,615 | 63,414 | 13,019 | 214,048 | 1,625 | 215,672 |
| (BIS risk positions) | ||||||
| Average active equity6 | 14,258 | 7,844 | 5,236 | 27,338 | 48 | 27,386 |
| Return on average active equity in % |
25 | 15 | (33) | 11 | N/M | 10 |
| Underlying return on average active equity in % | 20 | 14 | (4) | 14 | ||
| N/M – Not meaningful | ||||||
| 1 Includes: Severance payments |
258 |
393 |
20 |
671 |
31 |
702 |
| 2 Net interest revenues and noninterest revenues. | ||||||
| 3 Excludes provision for off-balance sheet positions (reclassified to provision for credit losses). | ||||||
| 4 Before cumulative effect of accounting changes. | ||||||
| 4 Before cumulative effect of accounting changes. | ||||||
| 6 See Note [28] to the consolidated financial statements for a description of how average active equity is allocated to the divisions. | ||||||
| 2002 | Corporate and Investment Bank | Private Clients and Asset Management | Corporate Investments | Total Management Reporting | Consolidation & Adjustments | Total Consolidated |
| in € m. (except percentages) | ||||||
| Net revenues2 | 13,776 | 9,518 | 3,000 | 26,295 | 252 | 26,547 |
| Provision for loan losses | 1,712 | 224 | 155 | 2,091 | – | 2,091 |
| Provision for off-balance sheet positions | 31 | (1) | (11) | 18 | (1) | 17 |
| Total provision for credit losses | 1,742 | 223 | 144 | 2,110 | ||
| Operating cost base1 | 10,909 | 7,123 | 1,228 | 19,260 | ||
| Policyholder benefits and claims | – | 685 | – | 685 | 74 | 759 |
| Minority interest | 8 | 32 | 3 | 43 | 2 | 45 |
| Restructuring activities | 342 | 240 | 1 | 583 | – | 583 |
| Goodwill impairment | – | – | 62 | 62 | – | 62 |
| Total noninterest expenses3 | 11,259 | 8,080 | 1,293 | 20,632 | 258 | 20,890 |
| Income (loss) before income taxes4 | 774 | 1,215 | 1,563 | 3,553 | (4) | 3,549 |
| Add (deduct) | ||||||
| Net (gains)/losses from | – | (511) | (18) | (529) | ||
| businesses sold/held for sale | ||||||
| Significant equity pick-ups/net | – | – | 1,197 | 1,197 | ||
| (gains)/losses from investments | ||||||
| Net (gains)/losses on securities | – | – | (3,659) | (3,659) | ||
| available for sale /industrial | ||||||
| holdings including hedging | ||||||
| Change in measurement of other inherent loss allowance | 200 | – | – | 200 | ||
| Restructuring activities | 342 | 240 | 1 | 583 | ||
| Goodwill impairment | – | – | 62 | 62 | ||
| Underlying pre-tax profit (loss) | 1,316 | 945 | (855) | 1,406 | ||
| Cost/income ratio in % | 82 | 85 | 43 | 78 | N/M | 79 |
| Underlying cost/income ratio in % |
79 | 86 | N/M | 85 | ||
| Assets5 | 642,127 | 109,394 | 26,536 | 750,238 | 8,117 | 758,355 |
| Risk-weighted positions | 155,160 | 59,490 | 19,219 | 233,870 | 3,609 | 237,479 |
| (BIS risk positions) | ||||||
| Average active equity6 | 16,871 | 7,850 | 6,522 | 31,243 | 2 | 31,245 |
| Return on average active equity in % |
5 | 15 | 24 | 11 | N/M | 11 |
| Underlying return on average active equity in % | 8 | 12 | (13) | 5 | ||
| N/M – Not meaningful | ||||||
| 1 Includes: Severance payments |
260 |
136 |
19 |
416 |
55 |
471 |
| 2 Net interest revenues and noninterest revenues. | ||||||
| 3 Excludes provision for off-balance sheet positions (reclassified to provision for credit losses). | ||||||
| 4 Before cumulative effect of accounting changes. | ||||||
| 4 Before cumulative effect of accounting changes. | ||||||
| 6 See Note [28] to the consolidated financial statements for a description of how average active equity is allocated to the divisions. | ||||||