Corporate & Investment Bank

Solid performance in a challenging environment


Corporate Finance:
extending market leadship1

Corporate Finance: extending lead (bar chart)

2011 was a challenging year for many of the businesses in our CIB Group Division with the European sovereign debt crisis and uncertainty about the global economic and regulatory outlook leading to a significant reduction in client activity, particularly in Europe. Although CIB was unable to prevent a decline in earnings, we succeeded in delivering solid income before income taxes and increased market share across geographies and products while ensuring careful control of costs, risks and balance sheet. This performance demonstrates the resilience of CIB’s global client franchise, and validates the steps taken in the past to recalibrate the business and further integrate Corporate Finance, GTB and Markets. This has been endorsed by the large number of awards the bank has won in 2011.

The Corporate & Investment Bank (CIB) Group Division comprises the Corporate Banking & Securities and Global Transaction Banking Corporate Divisions. Corporate Banking & Securities consists of the Markets and Corporate Finance Business Divisions.

Excerpt from segment reporting (Corporate & Investment Bank1)

The Corporate & Investment Bank Group Division reported income before income taxes of € 4.0 billion in 2011. The Corporate Banking & Securities Corporate Division recorded income before income taxes of € 2.9 billion, compared with € 5.0 billion in 2010. Overall, net revenues in 2011 were lower than in the year before. An uncertain macroeconomic environment and ongoing concerns around the European sovereign debt crisis had a particularly marked effect on client activity levels in Europe, which accounts for a substantial portion of our business. Revenues in Sales & Trading (debt and other products) as well as revenues in Sales & Trading (equity) came down significantly compared with the prior year. In addition, specific charges of € 1.0 billion mainly related to litigation and operational risks were more than offset by lower performance related compensation expenses and efficiency savings. The Global Transaction Banking Corporate Division generated full year income before income taxes of € 1.1 billion (2010: € 1.0 billion) driven by strong results across all businesses with growth in fee and interest income.

 

 

 

in € m.

2011

2010

1

Excerpt from segment reporting. For notes and other detailed information, see Financial Report 2011 (Management Report).

Net revenues

18,493

20,929

Total provision for credit losses

462

488

Noninterest expenses

13,977

14,422

Income before income taxes

4,028

5,999

Return on equity (pre-tax) in %

20

28

Risk-weighted assets

255,698

211,115

Assets

1,796,954

1,519,983

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Deutsche Bank Annual Report 2011

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