Part of the Consolidated Financial Statements as of 31 December 2006, which were audited by KPMG Deutsche Treuhand AG.

2006

Corporate and Investment Bank

Private Clients and Asset Management

Corporate Investments

Total Management Reporting

Consolidation & Adjustments

Total Consolidated

in € m. (except percentages)

 

 

 

 

 

 

Net revenues2

18,712

9,191

613

28,516

(178)

28,338

Provision for loan losses

(55)

368

18

330

(0)

330

Provision for off-balance sheet positions

(33)

(1)

(15)

(50)

0

(50)

Total provision for credit losses

(88)

366

2

281

 

 

Operating cost base1

12,894

6,760

133

19,787

 

 

Policyholder benefits and claims

53

53

4

57

Minority interest

26

(1)

(6)

20

(1)

19

Restructuring activities

99

91

1

192

192

(Glossary)Goodwill impairment/impairment of intangibles

31

31

31

Total noninterest expenses3

13,019

6,904

160

20,082

(150)

19,933

Income (loss) before income taxes4

5,781

1,921

451

8,153

(28)

8,125

Add (deduct):

 

 

 

 

 

 

Net (gains) from businesses sold/held for sale

(54)

(54)

 

 

Significant equity pick-ups/net (gains) from investments

(356)

(356)

 

 

Net (gains) on (Glossary)securities available for sale/industrial holdings including hedging

(134)

(134)

 

 

Net (gains) on the sale of premises

 

 

(12)

(12)

 

 

Restructuring activities

99

91

1

192

 

 

Goodwill impairment/impairment of intangibles

31

31

 

 

Underlying pre-tax profit

5,880

1,958

(20)

7,819

 

 

(Glossary)Cost/income ratio in %

70

75

26

70

N/M

70

Underlying cost/income ratio in %

69

74

121

71

 

 

Assets5

1,012,050

129,740

17,406

1,119,235

6,995

1,126,230

Risk-weighted positions ((Glossary)BIS risk positions)

191,892

76,407

5,354

273,653

1,984

275,637

Average active equity6

17,701

7,249

1,106

26,055

713

26,768

Return on average active equity in %

33

27

41

31

N/M

30

Underlying return on average active equity in %

33

27

(2)

30

 

 

N/M – Not meaningful

 

 

 

 

 

 

1 Includes

 

 

 

 

 

 

Severance payments

100

23

0

123

33

156

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.

5 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.

6 See Note [27] to the consolidated financial statements for a description of how average active equity is allocated to the divisions.

2005

Corporate and Investment Bank

Private Clients and Asset Management

Corporate Investments

Total Management Reporting

Consolidation & Adjustments

Total Consolidated

in € m. (except percentages)

 

 

 

 

 

 

Net revenues2

15,923

8,589

1,229

25,741

(102)

25,640

Provision for loan losses

32

342

(0)

374

0

374

Provision for off-balance sheet positions

(22)

(2)

(0)

(24)

(0)

(24)

Total provision for credit losses

10

340

(1)

350

 

 

Operating cost base1

11,122

6,339

181

17,642

 

 

Policyholder benefits and claims

49

49

3

52

Minority interest

37

30

(2)

66

(11)

55

Restructuring activities

417

346

2

767

767

Goodwill impairment/impairment of intangibles

Total noninterest expenses3

11,577

6,766

181

18,523

654

19,178

Income (loss) before income taxes4

4,336

1,484

1,049

6,868

(756)

6,112

Add (deduct):

 

 

 

 

 

 

Net (gains) from businesses sold/held for sale

0

(90)

(90)

 

 

Significant equity pick-ups/net (gains) from investments

(156)

(156)

 

 

Net (gains) on securities available for sale/industrial holdings including hedging

(801)

(801)

 

 

Net (gains) on the sale of premises

(57)

(57)

 

 

Restructuring activities

417

346

2

767

 

 

(Glossary)Goodwill impairment/impairment of intangibles

 

 

Underlying pre-tax profit

4,753

1,740

37

6,531

 

 

Cost/income ratio in %

73

79

15

72

N/M

75

Underlying (Glossary)cost/income ratio in %

70

75

84

72

 

 

Assets5

881,649

123,640

15,025

984,184

7,977

992,161

Risk-weighted positions (BIS risk positions)

167,753

74,064

7,448

249,264

1,938

251,202

Average active equity6

14,385

6,700

3,047

24,132

998

25,130

Return on average active equity in %

30

22

34

28

N/M

24

Underlying return on average active equity in %

33

26

1

27

 

 

N/M – Not meaningful

 

 

 

 

 

 

1 Includes

 

 

 

 

 

 

Severance payments

17

21

(0)

38

13

51

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.

5 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.

6 See Note [27] to the consolidated financial statements for a description of how average active equity is allocated to the divisions.