Remaining Noninterest Income

in € m.

 

 

 

2013 increase (decrease)
from 2012

2012 increase (decrease)
from 2011

(unless stated otherwise)

2013

2012

2011

in € m.

in %

in € m.

in %

N/M – Not meaningful

 

 

 

 

 

 

 

1 includes:

 

 

 

 

 

 

 

 

2013

2012

2011

in € m.

in %

in € m.

in %

Commissions and fees from fiduciary activities:

 

 

 

 

 

 

 

Commissions for administration

435

449

491

(13)

(3)

(42)

(9)

Commissions for assets under management

2,963

2,609

2,760

354

14

(151)

(5)

Commissions for other securities business

247

239

207

8

3

32

15

Total

3,646

3,297

3,458

349

11

(161)

(5)

Commissions, broker’s fees, mark-ups on securities underwriting and other securities activities:

 

 

 

 

 

 

 

Underwriting and advisory fees

2,378

2,318

2,118

60

3

200

9

Brokerage fees

1,542

1,526

1,882

15

1

(356)

(19)

Total

3,920

3,844

4,000

76

2

(156)

(4)

Fees for other customer services

4,742

4,667

4,421

76

2

246

6

Total commissions and fee income

12,308

11,809

11,878

500

4

(69)

(1)

N/M – Not meaningful

 

 

 

 

 

 

 

Commissions and fee income1

12,308

11,809

11,878

500

4

(69)

(1)

Net gains (losses) on financial assets available for sale

394

301

123

93

31

178

145

Net income (loss) from equity method investments

369

163

(264)

206

127

427

N/M

Other income (loss)

193

(120)

1,322

313

N/M

(1,442)

N/M

Total remaining noninterest income

13,264

12,153

13,059

1,111

9

(906)

(7)

Commissions and fee income

2013

Total Commissions and fee income increased from € 11.8 billion in 2012 by € 500 million to € 12.3 billion in 2013. Commissions for assets under management increased from a favorable development in the leveraged debt markets globally, which benefited from low interest rates. Underwriting and advisory fees as well as brokerage fees and fees for other customer services improved driven by higher client activity levels and improved market conditions for global equity trading.

2012

Total Commissions and fee income was € 11.8 billion in 2012, a decrease of € 69 million compared to 2011. Advisory fees increased driven by Global Finance as well as by DeAWM Alternatives, reflecting increased deal activity. Underwriting fees were in line with 2011 with an increase in Rates and Credit Trading, reflecting higher corporate debt issuance, offset by lower fees from Equity Trading. Other customer services fees slightly increased mainly due to Trade Finance & Cash management Corporates in GTB as well as Rates and Credit Trading in CB&S. Both Underwriting and advisory fees as well as Other customer services fees, however were offset by lower Brokerage fees, especially in PBC Products, due to muted client investment activities, and in Global Equities.

Net gains (losses) on financial assets available for sale

2013

Net gains on financial assets available for sale were € 394 million in 2013 compared to € 301 million in 2012. The net gain in 2013 mainly resulted from the de-risking activities related to the NCOU portfolio.

2012

Net gains on financial assets available for sale were € 301 million in 2012, versus € 123 million in 2011. The net gain in 2012 mainly included gains on the sale of EADS shares of € 152 million and on the sale of the Structured Credit portfolio in the NCOU. These gains were partially offset by specific impairments and realized losses on sale from de-risking activity in the NCOU. The net gain in 2011 mainly included disposal gains of approximately € 485 million and a one-time positive impact of € 263 million related to our stake in Hua Xia Bank, partly offset by an impairment charge of € 527 million on Greek government bonds.

Net income (loss) from equity method investments

2013

Net gains from equity investments increased from € 163 million in 2012 to € 369 million in 2013. The result in 2013 included 374 million from an equity pick up related to the investment in Hua Xia Bank.

2012

Net gains from equity method investments were € 163 million in 2012, versus a net loss of € 264 million in 2011. The net income in 2012 included a positive equity pick up of € 311 million from our investment in Hua Xia Bank, partly offset by an impairment charge of € 257 million related to Actavis Group. The net loss in 2011 included a positive equity pick up of € 154 million related to our stake in Hua Xia Bank and an impairment charge of € 457 million related to Actavis Group.

Other income (loss)

2013

Other income improved from negative € 120 million in 2012 to positive € 193 million in 2013. The improvement in 2013 is predominantly due to NCOU de-risking of portfolios. An impairment related to the expected sale of BHF-BANK was partly offset by continuing positive development of operating profits in Maher Terminals. Losses recorded from derivatives qualifying for hedge accounting were significantly lower than in the prior year.

2012

Other income was negative € 120 million in 2012 versus positive € 1.3 billion in 2011. The lower other income in 2012 was largely due to significant losses from derivatives qualifying for hedge accounting offset by revenues related to The Cosmopolitan of Las Vegas and Maher Terminals as well as income from the settlement of credit protection received from the seller related to acquired commercial banking activities in the Netherlands. In 2011, other income mainly included significant gains from derivatives qualifying for hedge accounting and revenues related to The Cosmopolitan of Las Vegas.