Corporate Investments

Coverage extended to further non-core assets


Corporate Investments:
development of carrying
value of investments

Corporate Investments: development of carrying value of investments (bar chart)

The Corporate Investments Group Division (CI) manages the global principal investment activities of Deutsche Bank that are not part of core business. These mainly comprise non-strategic investments, which include certain private equity and venture capital investments, certain corporate real estate investments and our industrial holdings, as well as certain credit facilities.

With effect from January 1, 2011, the credit exposure in Actavis Group was transferred to the Corporate Investments Group Division from the Corporate Banking & Securities Corporate Division. At the same time BHF-BANK was transferred from the Private Wealth Management Business Division.

At the end of 2011, CI managed € 12.2 billion in assets relating to non-strategic investments, including our credit exposure in Actavis Group, our stake in the port operator Maher Terminals and The Cosmopolitan of Las Vegas. As Actavis, Maher Terminals and Cosmopolitan do not form part of our core business, they are all held for investment purposes on a temporary basis.

At year-end, the credit facilities amounted to € 1.5 billion. Over the course of 2011, the liquidity facility of € 6.4 billion for FMS Wertmanagement Anstalt des öffentlichen Rechts, the agency winding-up Hypo Real Estate Group, in which we participated in December 2010, was fully repaid.

Excerpt from segment reporting (Corporate Investments1)

The Corporate Investments Group Division reported a loss before income taxes of € 1.1 billion in 2011 (2010: loss of € 2.8 billion). This result was mainly attributable to impairment charges related to Actavis Group and The Cosmopolitan of Las Vegas.

 

 

 

in € m.

2011

2010

1

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

Net revenues

394

(1,796)

Total provision for credit losses

14

(0)

Noninterest expenses

1,492

967

Income before income taxes

(1,111)

(2,760)

Risk-weighted assets

11,848

8,794

Assets

25,203

30,138

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Deutsche Bank Annual Report 2011

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