In 2009, Deutsche Bank demonstrated its strength in the face of the worst financial crisis for decades. Our shareholders, our clients, our people, and the communities in which we operate all benefited from this. However, the economic environment is still fragile, and a number of challenges still lie ahead.
The declines in value sustained by our owners in the immediate aftermath of the crisis have been significantly recouped thanks to a strong recovery in profitability and share price in 2009. We are consolidating the competitive advantage gained over our competitors by continuing to focus on cost-efficiency and by concentrating on products that are aligned to the needs of our customers. Our business model aims to deliver sustainable success; a strong capital base, and extensive risk management, which safeguards our shareholders’ assets and our company’s reputation, are essential elements of this model.
In a difficult environment, we act as a reliable partner to our customers, and we have proved our ability to provide constructive solutions which are tailored to their individual financial position. More than ever, we seek personal dialogue with our customers and recognise their desire for transparent banking products that are easy to understand. Our customers benefit directly from the experience we have gained in dealing with the recent crisis. Trust, expert advice and the ability not only to understand our customers’ needs but also to meet them with first-class solutions benefits both parties: our customers’ success is the essential basis of our own success.
If we have emerged stronger from the crisis, it is first and foremost thanks to our highly competent staff, with their skill, their commitment and their performance culture. The diversity of our staff helps us to understand better and faster not only our diverse customer base, but also the risks and trends of the globalized world. We are particularly focused on eliminating outdated stereotypes in order to ensure equal opportunities in the workplace.
We see ourselves as part of society and, in return, we respect its perception of us. It is thus in our own interest to take our social responsibility very seriously and to contribute to tackling social problems. This goes far beyond our role as employer and taxpayer, and traditional engagement for social and cultural issues. It also means taking concrete measures and making our voice heard on the threats to climate change or possible solutions for the financial crisis.
Statements relating to Deutsche Bank‘s competitive position, market share or ranking are based largely on external sources, including industry publications (e.g. Euromoney, etc.) and specialist information providers (e.g. Thomson Reuters, Dealogic, etc.).