Segmental Results of Operations 2003

 
2003 Corporate and Investment Bank Private Clients and Asset Corporate Total
Management Invest- Manage-
  ments ment
in € m. (except percentages) Corporate Global Total Asset Private & Total   Reporting
Banking & Trans- and Business    
Securities action Wealth Clients    
  Banking Manage-      
    ment      
Net revenues1 11,710 2,469 14,180 3,841 4,385 8,226 (916) 21,490
Provision for loan losses 750 2 752 2 322 325 36 1,113
Provision for off-balance sheet positions 8 (53) (45) (3) (1) (3) (2) (50)
Total provision for credit losses 759 (51) 707 (1) 322 321 35 1,063
Operating cost base2 8,226 1,735 9,961 3,092 3,606 6,698 681 17,340
Policyholder benefits and claims – – – 21 – 21 – 21
Minority interest 13 – 13 13 2 15 (31) (3)
Restructuring activities (23) (6) (29) – – – – (29)
Goodwill impairment – – – – – – 114 114
Total noninterest expenses4 8,216 1,729 9,946 3,126 3,607 6,734 763 17,442
Income (loss) before income taxes5 2,735 791 3,527 715 456 1,172 (1,714) 2,984
Add (deduct)                
Net (gains) losses from business sold/held for sale – (583) (583) (55) 4 (51) 141 (494)
Significant equity pick-ups/net (gains) losses from investments – – – – – – 938 938
Net (gains) losses on securities available for sale/industrial holdings including hedging – – – – – – 184 184
Net (gains) losses on the sale – – – – – – 107 107
of premises
Restructuring activities (23) (6) (29) – – – – (29)
Goodwill impairment – – – – – – 114 114
Underlying pre-tax profit (loss) 2,712 202 2,914 660 459 1,119 (232) 3,802
Cost/income ratio in % 70 70 70 81 82 82 N/M 81
Underlying cost/income ratio 70 92 73 82 82 82 150 78
in %
Assets3, 6 693,414 16,709 681,722 48,138 78,477 124,606 18,987 795,818
Expenditures for additions to long-lived assets 391 99 490 36 47 82 141 713
Risk-weighted positions 127,449 10,166 137,615 12,170 51,244 63,414 13,019 214,048
(BIS risk positions)
Average active equity7 12,849 1,409 14,258 6,324 1,521 7,844 5,236 27,338
Return on average active equity in % 21 56 25 11 30 15 (33) 11
Underlying return on average 21 14 20 10 30 14 (4) 14
active equity in %
1       Includes:                
      Net interest revenues
2,502
642
3,144
290
2,377
2,666
142
5,952
      Net revenues from external 
      customers
11,601
2,602
14,202
4,053
4,092
8,145
(963)
21,384
      Net intersegment revenues
110
(133)
(23)
(212)
294
82
47
106
      Net income (loss) from equity 
      method
163
(1)
163
166
–
166
(757)
(428)
      investments
2    Includes:                
      Depreciation, depletion and 
      amortization
386
100
486
81
136
218
65
769
      Severance payments
192
66
258
79
314
393
20
671
3       Includes:                
      Equity method investments
1,889
37
1,927
380
30
410
3,511
5,848
 
4 Excludes provision for off-balance sheet positions (reclassified to provision for credit losses).
5 Before cumulative effect of accounting changes.
6 The sum of corporate divisions does not necessarily equal the total of the corresponding group division because of consolidation items between corporate divisions, which are to be eliminated on group division level. The same approach holds true for the sum of group divisions compared to Total Management Reporting.
7 For management reporting purposes goodwill and other intangible assets with indefinite lives are explicitly assigned to the respective divisions. Average active equity is first allocated to divisions according to goodwill and intangible assets, remaining average active equity is allocated to the divisions in proportion to the economic capital calculated for them.
  N/M – Not meaningful.