Segmental Results of Operations

 (unaudited)

The following tables present the results of the business segments, including the reconciliation to the consolidated results under IFRS, for the three months ended March 31, 2011 and March 31, 2010.

Three months ended Mar 31, 2011

Corporate & Investment Bank

Private Clients and Asset Management

Corporate
Invest-
ments

Consoli-
dation &
Adjust-
ments

Total Consoli-
dated

in € m.
(unless stated otherwise)

Corporate Banking & Securities

Global Transaction Banking

Total

Asset and Wealth Management

Private & Business Client

Total

 

 

 

N/M – Not meaningful

1

Includes € 236 million positive impact related to our stake in Hua Xia Bank for which equity method accounting was applied. This positive impact is excluded from the Group’s target definition.

2

The sum of corporate divisions does not necessarily equal the total of the corresponding group division because of consolidation items between corporate divisions, which are to be eliminated on group division level. The same approach holds true for the sum of group divisions compared to “Total Consolidated”.

3

For management reporting purposes goodwill and other intangible assets with indefinite useful lives are explicitly assigned to the respective divisions. Starting 2011, the Group’s average active equity is allocated to the business segments and to Consolidation & Adjustments in proportion to their regulatory capital requirements, which comprises of the regulatory capital required to support risk weighted assets and certain capital deduction items, goodwill and unamortized other intangible assets. Prior periods were adjusted accordingly.

4

For an explanation of the return on average active equity please refer to Note 05 “Business Segments and Related Information” of the Financial Report 2010. For “Total Consolidated” pre-tax return on average shareholders’ equity is 24 %

Net revenues

5,831

865

6,696

1,002

3,072

4,074

180

(476)

10,474

Provision for credit losses

12

21

33

19

320

338

1

(0)

373

Total noninterest expenses

3,504

587

4,091

792

1,888

2,680

344

(34)

7,080

therein:

 

 

 

 

 

 

 

 

 

Policyholder benefits and claims

65

65

0

0

65

Impairment of intangible assets

Restructuring activities

Noncontrolling interests

11

11

1

77

78

(0)

(89)

Income (loss) before income taxes

2,304

257

2,561

190

7881

978

(165)

(353)

3,021

Cost/income ratio

60 %

68 %

61 %

79 %

61 %

66 %

N/M

N/M

68 %

Assets2

1,410,919

72,346

1,458,950

52,998

344,825

397,800

32,916

11,136

1,842,245

Average active equity3

18,772

2,348

21,120

5,456

11,355

16,812

1,118

9,927

48,977

Pre-tax return on average active equity4

49 %

44 %

49 %

14 %

28 %

23 %

(59) %

N/M

24 %

Three months ended Mar 31, 2010

Corporate & Investment Bank

Private Clients and Asset Management

Corporate
Invest-
ments

Consoli-
dation &
Adjust-
ments

Total Consoli-
dated

in € m.
(unless stated otherwise)

Corporate Banking & Securities

Global Transaction Banking

Total

Asset and Wealth Management

Private & Business Client

Total

 

 

 

N/M – Not meaningful

1

The sum of corporate divisions does not necessarily equal the total of the corresponding group division because of consolidation items between corporate divisions, which are to be eliminated on group division level. The same approach holds true for the sum of group divisions compared to “Total Consolidated”.

2

For management reporting purposes goodwill and other intangible assets with indefinite useful lives are explicitly assigned to the respective divisions. Starting 2011, the Group’s average active equity is allocated to the business segments and to Consolidation & Adjustments in proportion to their regulatory capital requirements, which comprises of the regulatory capital required to support risk weighted assets and certain capital deduction items, goodwill and unamortized other intangible assets. Prior periods were adjusted accordingly.

3

For an explanation of the return on average active equity please refer to Note 05 “Business Segments and Related Information” of the Financial Report 2010. For “Total Consolidated” pre-tax return on average shareholders’ equity is 29 %.

Net revenues

5,992

636

6,628

829

1,412

2,241

220

(91)

8,999

Provision for credit losses

93

(4)

90

3

170

173

0

(0)

262

Total noninterest expenses

3,295

520

3,816

830

1,053

1,883

156

89

5,944

therein:

 

 

 

 

 

 

 

 

 

Policyholder benefits and claims

140

140

0

0

140

Impairment of intangible assets

29

29

29

Restructuring activities

Noncontrolling interests

14

14

1

0

1

(1)

(15)

Income (loss) before income taxes

2,589

119

2,708

(5)

189

184

65

(165)

2,793

Cost/income ratio

55 %

82 %

58 %

100 %

75 %

84 %

71 %

N/M

66 %

Assets (as of Dec 31, 2010)1

1,468,863

71,877

1,519,983

53,141

346,998

400,110

30,138

11,348

1,905,630

Average active equity2

17,547

1,588

19,135

4,666

3,839

8,505

2,491

7,471

37,601

Pre-tax return on average active equity3

59 %

30 %

57 %

(0) %

20 %

9 %

10 %

N/M

30 %

Signs and Symbols
  • Save section as pdf file
  • Save table as xls file
  • Print page
  • Add file to file library
  • Glossary
  • Link to a page outside of this report
  • Link to a page within this report
  • Compare to 2010
  • Corresponding page at the PDF version of this report
Help

Explanations to make the best possible use of the information provided and the various service features can be found here.