Three months ended

Six months ended

in € m.

Jun 30, 2009

Jun 30, 2008

Jun 30, 2009

Jun 30, 2008

1

Trading income includes gains and losses from derivatives held for trading and from derivatives not qualifying for hedge accounting.

2

Includes € (30) million and € 6.2 billion from securitization structures for the three months ended June 30, 2009 and June 30, 2008, respectively, and € (169) million and € 11.2 billion for the six months ended June 30, 2009 and June 30, 2008, respectively.
Fair value movements on related instruments of € 92 million and € (7.8) billion for the three months ended June 30, 2009 and June 30, 2008, respectively, and € (274) million and € (12.8) billion for the six months ended June 30, 2009 and June 30, 2008, respectively, are reported within trading income. Both are reported under Sales & Trading (debt and other products). The total of these gains and losses represents the Group’s share of the losses in these consolidated securitization structures.

3

Includes the net interest spread on loans as well as the fair value changes of credit default swaps and loans designated at fair value through profit or loss.

4

Includes net interest income and net gains (losses) on financial assets/liabilities at fair value through profit or loss on origination, advisory and other products.

Net interest income

2,764

2,951

6,607

5,627

Trading income1

2,534

(7,649)

4,459

(15,481)

Net gains (losses) on financial assets/liabilities designated at fair value through profit or loss2

77

7,175

416

13,428

Total net gains (losses) on financial assets/liabilities at fair value through profit or loss

2,611

(475)

4,875

(2,053)

Total net interest income and net gains (losses) on financial assets/liabilities at fair value through profit or loss

5,375

2,476

11,482

3,574

Breakdown by Group Division/CIB product:

 

 

 

 

Sales & Trading (equity)

765

635

766

1,052

Sales & Trading (debt and other products)

2,112

522

6,108

1,707

Total Sales & Trading

2,877

1,157

6,874

2,760

Loan products3

105

180

473

325

Transaction services

366

285

638

629

Remaining products4

131

(149)

141

(1,785)

Total Corporate and Investment Bank

3,479

1,474

8,126

1,929

Private Clients and Asset Management

1,088

981

2,075

1,860

Corporate Investments

372

10

742

(120)

Consolidation & Adjustments

436

12

539

(95)

Total net interest income and net gains (losses) on financial assets/liabilities at fair value through profit or loss

5,375

2,476

11,482

3,574