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Segmental Results of Operations 3Q2006

[Enlarge table]


Three months ended
Sep 30, 2006

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

3,477

541

4,019

 

904

1,202

2,106

153

6,278

Underlying revenues

3,477

541

4,019

 

893

1,202

2,095

(13)

6,101

Provision for loan losses

(1)

5

4

 

(1)

98

97

0

102

Provision for off-balance sheet positions1

(19)

(14)

(32)

 

0

0

1

(0)

(32)

Provision for credit losses

(19)

(9)

(28)

 

(1)

99

98

(0)

70

Operating cost base

2,524

381

2,905

 

712

851

1,563

27

4,495

Minority interest

6

–

6

 

(1)

0

(1)

(3)

3

Restructuring activities

9

1

10

 

3

4

7

1

18

Goodwill impairment/impairment of intangibles

–

–

–

 

–

–

–

–

–

Policyholder benefits and claims

–

–

–

 

10

–

10

–

10

Provision for off-balance sheet positions1

(19)

(14)

(32)

 

0

0

1

(0)

(32)

Total noninterest expenses

2,521

369

2,890

 

724

855

1,580

25

4,495

Income before income taxes

957

168

1,124

 

180

249

429

128

1,681

Add (deduct):

 

 

 

 

 

 

 

 

 

Net losses on Securities available for sale/industrial holdings including hedging

–

–

–

 

–

–

–

(114)

(114)

Significant equity pick-ups/net gains from investments2

–

–

–

 

–

–

–

(53)

(53)

Net gains from businesses sold/ held for sale

–

–

–

 

–

–

–

–

–

Net gains related to premises

–

–

–

 

–

–

–

–

–

Restructuring activities

9

1

10

 

3

4

7

1

18

Goodwill impairment/ impairment of intangibles

–

–

–

 

–

–

–

–

–

Underlying pre-tax profit

966

169

1,135

 

183

252

436

(38)

1,533

Cost/income ratio in %

73

71

73

 

80

71

75

16

72

Underlying Cost/income ratio in %

73

70

72

 

80

71

75

N/M

74

Assets3

977,612

21,207

986,730

 

34,653

88,480

123,097

14,193

1,089,373

Risk-weighted positions (BIS risk positions)

175,794

13,248

189,043

 

12,325

63,027

75,352

5,213

269,607

Average active equity

16,730

1,062

17,792

 

4,907

2,392

7,300

1,158

26,249

Pre-tax return on average active equity in %

23

63

25

 

15

42

23

44

26

Underlying pre-tax return on average active equity in %

23

63

26

 

15

42

24

(13)

23

N/M – Not meaningful

1

For purpose of the presentation of the operating cost base, provision for off-balance sheet positions is reclassified from “Noninterest expenses” to “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, which include consolidation items between group divisions.

[Enlarge table]


Three months ended
Sep 30, 2005

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

3,581

494

4,076

 

1,014

1,186

2,199

410

6,685

Underlying revenues

3,581

494

4,076

 

962

1,178

2,140

1

6,217

Provision for loan losses

(1)

3

2

 

(1)

91

90

(4)

87

Provision for off-balance sheet positions1

10

(7)

3

 

1

0

1

(0)

4

Provision for credit losses

8

(4)

5

 

0

91

91

(4)

91

Operating cost base

2,384

363

2,747

 

743

834

1,577

39

4,364

Minority interest

12

–

12

 

13

(0)

13

(1)

24

Restructuring activities

46

9

55

 

71

29

100

1

156

Goodwill impairment/impairment of intangibles

–

–

–

 

–

–

–

–

0

Policyholder benefits and claims

–

–

–

 

10

–

10

–

10

Provision for off-balance sheet positions1

10

(7)

3

 

1

0

1

(0)

4

Total noninterest expenses

2,452

365

2,817

 

838

863

1,702

39

4,558

Income before income taxes

1,131

126

1,257

 

176

232

408

375

2,040

Add (deduct):

 

 

 

 

 

 

 

 

 

Net losses on Securities available for sale/industrial holdings including hedging

–

–

–

 

–

–

–

(342)

(342)

Significant equity pick-ups/net gains from investments2

–

–

–

 

–

–

–

(51)

(51)

Net gains from businesses sold/ held for sale

–

–

–

 

(42)

(8)

(49)

–

(49)

Net gains related to premises

–

–

–

 

–

–

–

(16)

(16)

Restructuring activities

46

9

55

 

71

29

100

1

156

Goodwill impairment/ impairment of intangibles

–

–

–

 

–

–

–

–

–

Underlying pre-tax profit

1,177

135

1,312

 

205

254

459

(33)

1,737

Cost/income ratio in %

68

75

69

 

83

73

77

10

68

Underlying Cost/income ratio in %

67

74

67

 

77

71

74

N/M

70

Assets (as of Dec 31, 2005)3

872,928

18,079

881,649

 

37,150

86,528

123,640

15,025

984,184

Risk-weighted positions (BIS risk positions)

157,181

12,995

170,175

 

13,288

58,468

71,756

9,345

251,276

Average active equity

13,771

1,375

15,146

 

5,152

1,685

6,837

2,909

24,893

Pre-tax return on average active equity in %

33

37

33

 

14

55

24

52

33

Underlying pre-tax return on average active equity in %

34

39

35

 

16

60

27

(5)

28

N/M – Not meaningful

1

For purpose of the presentation of the operating cost base, provision for off-balance sheet positions is reclassified from “Noninterest expenses” to “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, which include consolidation items between group divisions.