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Three months ended Sep 30, 2007

Corporate and Investment Bank

Private Clients and Asset Management

Corporate
Invest-
ments

Consoli-
dation &
Adjust-
ments

Total
Consoli-
dated

in € m.
(unless stated otherwise)

Corporate
Banking &
Securities

Global
Trans-
action
Banking

Total

Asset and
Wealth
Manage-
ment

Private &
Business
Clients

Total

N/M – Not meaningful

1

Includes gains from the sale of industrial holdings (Linde AG and Allianz SE) of € 305 million and from the sale of premises (sale and leaseback transaction 60 Wall Street) of € 187 million, which are excluded from the Group’s target definition.

2

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 Consolidated’.

3

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.

4

For the calculation of pre-tax return on average active equity please refer to Target Definition. For ‘Total Consolidated’ pre-tax return on average shareholders’ equity is 16 %.

Net revenues

1,265

661

1,926

1,126

1,441

2,567

654

(52)

5,0951

Provision for credit losses

(17)

(2)

(19)

1

124

124

(1)

0

105

Total noninterest expenses

1,454

399

1,853

859

1,013

1,872

26

(210)

3,541

therein:

 

 

 

 

 

 

 

 

 

Policyholder benefits and claims

–

–

–

11

–

11

–

1

12

Impairment of intangible assets

–

–

–

–

–

–

–

–

–

Restructuring activities

(1)

(0)

(1)

(0)

(0)

(1)

(0)

(0)

(2)

Minority interest

8

–

8

1

0

1

1

(9)

–

Income (loss) before income taxes

(179)

263

85

265

304

569

629

167

1,449

Cost/income ratio

115 %

60 %

96 %

76 %

70 %

73 %

4 %

N/M

69 %

Assets (as of Dec 31, 2007)2

1,785,546

32,083

1,799,664

39,081

117,533

156,391

13,002

8,695

1,924,257

Average active equity3

20,206

1,128

21,335

5,192

3,382

8,574

371

241

30,520

Pre-tax return on average active equity4

(4) %

93 %

2 %

20 %

36 %

27 %

N/M

N/M

19 %