| Segmental Results of Operations 2004 | |||||||||
| Three months ended Sep 30, 2004 |
Corporate and Investment Bank | Private Clients and Asset Management | Corporate Invest- ments | Total Manage- ment Reporting | |||||
| in € m. (except percentages) |
Corporate Banking & Securities | Global Trans- action Banking | Total | Asset and Wealth Manage- ment | Private & Business Clients | Total | |||
| Net revenues | 2,394 | 466 | 2,860 | 854 | 1,126 | 1,980 | 119 | 4,959 | |
| Underlying revenues | 2,394 | 464 | 2,858 | 829 | 1,126 | 1,955 | 18 | 4,830 | |
| Provision for loan losses | 22 | 3 | 26 | (1) | 57 | 56 | 1 | 83 | |
| Provision for off-balance sheet positions1 |
(10) | (14) | (24) | 0 | 0 | (1) | 0 | (24) | |
| Total provision for credit losses |
12 | (10) | 2 | (2) | 57 | 55 | 1 | 58 | |
| Operating cost base | 1,917 | 385 | 2,302 | 723 | 826 | 1,549 | 78 | 3,929 | |
| Minority interest | (2) | – | (2) | 7 | 0 | 7 | 0 | 5 | |
| Restructuring activities | – | – | – | – | – | – | – | – | |
| Goodwill impairment | – | – | – | – | – | – | – | – | |
| Policyholder benefits and claims |
– | – | – | 7 | – | 7 | – | 7 | |
| Provision for off-balance sheet positions1 |
(10) | (14) | (24) | 0 | 0 | (1) | 0 | (24) | |
| Total noninterest expenses | 1,905 | 372 | 2,277 | 737 | 825 | 1,562 | 78 | 3,916 | |
| Income before income taxes | 466 | 91 | 557 | 119 | 244 | 362 | 41 | 960 | |
| Add (deduct) | |||||||||
| Net gains on securities available for sale/ industrial holdings including hedging | – | – | – | – | – | – | (26) | (26) | |
| Significant equity pick-ups/net gains from investments2 | – | – | – | – | – | – | (24) | (24) | |
| Net gains from businesses sold/held for sale |
– | (2) | (2) | (18) | 0 | (19) | – | (21) | |
| Net gains on sale of premises | – | – | – | – | – | – | (51) | (51) | |
| Restructuring activities | – | – | – | – | – | – | – | – | |
| Goodwill impairment | – | – | – | – | – | – | – | – | |
| Underlying pre-tax profit (loss) |
466 | 89 | 555 | 100 | 243 | 344 | (61) | 838 | |
| Cost/income ratio in % | 80 | 83 | 80 | 86 | 73 | 79 | 65 | 79 | |
| Underlying cost/income ratio in % |
80 | 83 | 81 | 87 | 73 | 79 | N/M | 81 | |
| Assets3 | 730,603 | 18,519 | 736,011 | 36,123 | 77,247 | 113,305 | 16,538 | 838,531 | |
| Risk-weighted positions (BIS risk positions) |
128,207 | 11,908 | 140,115 | 11,672 | 53,467 | 65,139 | 10,533 | 215,787 | |
| Average active equity | 11,467 | 1,477 | 12,944 | 5,096 | 1,766 | 6,861 | 3,935 | 23,741 | |
| Pre-tax return on average active equity in % |
16 | 25 | 17 | 9 | 55 | 21 | 4 | 16 | |
| Underlying pre-tax return on average active equity in % |
16 | 24 | 17 | 8 | 55 | 20 | (6) | 14 | |
| N/M – Not meaningful | |
| 1 | Provision for off-balance sheet positions is reclassified from “Noninterest expenses” to “Total provision for credit losses”. |
| 2 | Includes net gains/losses from significant equity method investments and other significant investments. |
| 3 | 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 the group division level. The same approach holds true for the sum of group divisions compared to Total Management Reporting. |
| Segmental Results of Operations 2003 | |||||||||
| Three months ended Sep 30, 2003 |
Corporate and Investment Bank | Private Clients and Asset Management | Corporate Invest- ments | Total Manage- ment Reporting | |||||
| in € m. (except percentages) |
Corporate Banking & Securities | Global Trans- action Banking | Total | Asset and Wealth Manage- ment | Private & Business Clients | Total | |||
| Net revenues | 2,766 | 529 | 3,295 | 1,017 | 1,065 | 2,083 | 8 | 5,385 | |
| Underlying revenues | 2,766 | 471 | 3,236 | 1,007 | 1,065 | 2,072 | 38 | 5,346 | |
| Provision for loan losses | 147 | (35) | 112 | (2) | 55 | 52 | 9 | 174 | |
| Provision for off-balance sheet positions1 |
35 | (12) | 23 | (2) | (2) | (4) | (1) | 18 | |
| Total provision for credit losses |
182 | (46) | 136 | (4) | 53 | 49 | 8 | 192 | |
| Operating cost base | 1,978 | 417 | 2,395 | 779 | 917 | 1,697 | 100 | 4,192 | |
| Minority interest | 10 | – | 10 | 0 | 0 | 0 | (8) | 2 | |
| Restructuring activities | – | – | – | – | – | – | – | – | |
| Goodwill impairment | – | – | – | – | – | – | – | – | |
| Policyholder benefits and claims |
– | – | – | 11 | – | 11 | – | 11 | |
| Provision for off-balance sheet positions1 |
35 | (12) | 23 | (2) | (2) | (4) | (1) | 18 | |
| Total noninterest expenses | 2,023 | 406 | 2,429 | 788 | 916 | 1,704 | 91 | 4,223 | |
| Income (loss) before income taxes | 596 | 158 | 754 | 232 | 95 | 327 | (92) | 988 | |
| Add (deduct) | |||||||||
| Net gains on securities available for sale/ industrial holdings including hedging | – | – | – | – | – | – | (33) | (33) | |
| Significant equity pick-ups/net losses from investments2 | – | – | – | – | – | – | 38 | 38 | |
| Net (gains) losses from business sold/held for sale | – | (59) | (59) | 0 | – | 0 | 25 | (34) | |
| Net (gains) losses on sale of premises |
– | – | – | – | – | – | – | – | |
| Restructuring activities | – | – | – | – | – | – | – | – | |
| Goodwill impairment | – | – | – | – | – | – | – | – | |
| Underlying pre-tax profit (loss) |
596 | 100 | 695 | 231 | 95 | 326 | (62) | 959 | |
| Cost/income ratio in % | 72 | 79 | 73 | 78 | 86 | 82 | N/M | 78 | |
| Underlying cost/income ratio in % |
72 | 89 | 74 | 77 | 86 | 82 | N/M | 78 | |
| Assets (as of Dec 31, 2003)3 |
693,414 | 16,709 | 681,722 | 48,138 | 78,477 | 124,606 | 18,987 | 795,818 | |
| Risk-weighted positions (BIS risk positions) |
132,277 | 14,098 | 146,375 | 12,907 | 50,459 | 63,366 | 14,442 | 224,183 | |
| Average active equity | 12,544 | 1,373 | 13,917 | 5,715 | 1,549 | 7,263 | 4,358 | 25,538 | |
| Pre-tax return on average active equity in % |
19 | 46 | 22 | 16 | 25 | 18 | (8) | 15 | |
| Underlying pre-tax return on average active equity in % |
19 | 29 | 20 | 16 | 25 | 18 | (6) | 15 | |
| N/M – Not meaningful | |
| 1 | Provision for off-balance sheet positions is reclassified from “Noninterest expenses” to “Total provision for credit losses”. |
| 2 | Includes net gains/losses from significant equity method investments and other significant investments. |
| 3 | 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 the group division level. The same approach holds true for the sum of group divisions compared to Total Management Reporting. |