Acquisitions and Dispositions of Noncontrolling Interests while Retaining Control

During 2013 and 2012, the Group completed acquisitions and dispositions of noncontrolling interests related to its investments in subsidiaries where the Group is not the sole owner and which did not result in the loss of control over the respective subsidiaries. In accordance with IFRS 10, they were accounted for as equity transactions between the Group and outside shareholders with no gain or loss recognized in the Group’s income statement. The total consideration transferred in 2013 and 2012 on these transactions amounted to € 11 million and € 1,371 million, respectively. The carrying amounts of the related controlling and noncontrolling interests were adjusted to reflect the changes regarding the Group’s interests in these subsidiaries. Any difference between the fair values of the consideration transferred or received and the amounts by which the noncontrolling interests were adjusted is recognized directly in shareholders’ equity.

The following table summarizes the aggregated effect of changes in the Group’s ownership interests recorded for these subsidiaries during 2012 and 2013. Ownership changes during this period mainly related to the consolidated interest in Postbank. Subsequent to the step-acquisition in December 2010, the Group had raised its direct shareholdings in Postbank through the conversion of the MEB and the exercise of the put and call options on Postbank shares in February 2012 as well as through additional shares purchased in the market. In concluding the domination agreement in the second quarter 2012, Deutsche Bank had derecognized from the Group’s total equity the remaining noncontrolling interest of € 248 million in Postbank as the minority shareholders ceased to have access to the risks and rewards of ownership of the Postbank shares. Through December 31, 2013, a total of 490,246 Postbank shares (equal to approximately 0.22 % of total Postbank shares outstanding) were tendered by minority shareholders to Deutsche Bank under the domination agreement, thereby increasing the Group’s direct shareholding to approximately 94.1 %.

in € m.

2013

2012

Deutsche Bank’s ownership interests as of beginning of the period

24

4,448

Net increase in Deutsche Bank’s ownership interests

7

753

Deutsche Bank’s share of net income or loss

1

803

Deutsche Bank’s share of other comprehensive income

(4)

1,030

Deutsche Bank’s share of other equity changes

(1)

(207)

Deutsche Bank’s ownership interests at the end of the period

27

6,827


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