Corporate Investments Group Division (CI)


in € m.

Three months ended

Change
in %

Six months ended

Change
in %

Jun 30, 2010

Jun 30, 2009

Jun 30, 2010

Jun 30, 2009

N/M – Not meaningful

Net revenues

44

660

(93)

196

813

(76)

Provision for credit losses

(8)

(0)

N/M

(10)

(0)

N/M

Noninterest expenses

117

284

(59)

223

373

(40)

Noncontrolling interests

(1)

(1)

(28)

(1)

(1)

30

Income (loss) before income taxes

(64)

377

N/M

(16)

441

N/M

2010 to 2009 Three Months Comparison

Net revenues were € 44 million in the second quarter 2010 and included € 116 million related to Deutsche Postbank AG and € 39 million from the sale of investments, partly offset by an impairment charge of € 124 million on The Cosmopolitan Resort and Casino property. In the second quarter 2009, net revenues were € 660 million. These included € 519 million related to Deutsche Postbank AG and € 132 million from the sale of industrial holdings as well as gains from our option to increase our share in Hua Xia Bank Co. Ltd.

Noninterest expenses were € 117 million in the second quarter 2010, a decrease of € 167 million compared to the second quarter 2009, which included a goodwill impairment charge of € 151 million on our investment in Maher Terminals LLC in the second quarter 2009.

Loss before income taxes was € 64 million in the second quarter 2010, compared to income before income taxes of € 377 million in the same period of the prior year.

2010 to 2009 Six Months Comparison

Net revenues were € 196 million in the first six months of 2010 and included € 263 million related to Deutsche Postbank AG and € 39 million from the sale of investments, partly offset by the aforementioned impairment charge on The Cosmopolitan Resort and Casino property. In the first six months 2009, net revenues were € 813 million. These included € 821 million related to Deutsche Postbank AG, € 192 million from the sale of industrial holdings and mark-to-market gains from our option to increase our share in Hua Xia Bank Co. Ltd., partly offset by impairment charges of € 302 million on our industrial holdings.

Noninterest expenses were € 223 million in the first six months 2010, a decrease of € 150 million compared to the first six months 2009, mainly related to the non-recurrence of the aforementioned goodwill impairment charge in the first half 2009.

Loss before income taxes was € 16 million in the first half of 2010, compared to income before income taxes of € 441 million in the first half of 2009.