Non-Core Operations Unit Corporate Division


in € m.

 

 

 

2012 increase (decrease)
from 2011

2011 increase (decrease)
from 2010

(unless stated otherwise)

2012

2011

2010

in € m.

in %

in € m.

in %

N/M – Not meaningful

1

Segment assets represent consolidated view, i.e. the amounts do not include intersegment balances.

2

See Note 05 “Business Segments and Related Information” to the consolidated financial statements for a description of how average active equity is allocated to the divisions.

Net revenues

1,058

879

(1,285)

179

20

2,164

N/M

Provision for credit losses

634

385

577

249

65

(192)

(33)

Total noninterest expenses

3,305

2,554

1,690

751

29

864

51

therein

 

 

 

 

 

 

 

Restructuring activities

3

3

N/M

N/M

Impairment of intangible assets

421

421

N/M

N/M

Noncontrolling interests

33

14

(4)

19

136

18

N/M

Income (loss) before income taxes

(2,914)

(2,074)

(3,548)

(840)

40

1,474

(42)

Assets1

97,265

134,712

168,397

(37,447)

(28)

(33,685)

(20)

Risk-weighted assets

80,295

103,810

75,228

(23,515)

(23)

28,582

38

Average active equity2

10,189

11,405

9,318

(1,216)

(11)

2,087

22

Net revenues increased by € 179 million, or 20 %, compared to 2011. Net revenues in the NCOU are driven by the timing and nature of specific items. In 2012 such specific items included negative effects related to refinements of the CVA methodology of € 203 million, mortgage repurchase costs of € 233 million, losses from sales of capital intensive securitization positions and various impairments. Revenues in 2011 were impacted by impairment charges of € 457 million related to Actavis Group as well as impairments on Greek Government bonds.

Provision for credit losses increased by € 249 million, or 65 %, in comparison to 2011 mainly due to higher provisions in relation to IAS 39 reclassified assets.

Noninterest expenses increased by € 751 million, or 29 %, compared to 2011. The increase was mainly driven by specific items such as litigation charges, settlement costs and impairments. While 2012 included € 421 million impairment of intangible assets, 2011 was impacted by a € 135 million property related impairment charge, € 97 million related to BHF-BANK and additional settlement costs.