Net Interest Income

in € m.

 

 

 

2014 increase (decrease)
from 2013

2013 increase (decrease)
from 2012

(unless stated otherwise)

2014

2013

2012

in € m.

in %

in € m.

in %

ppt – Percentage points

1

Average balances for each year are calculated in general based upon month-end balances.

2

Gross interest yield is the average interest rate earned on our average interest-earning assets.

3

Gross interest rate paid is the average interest rate paid on our average interest-bearing liabilities.

4

Net interest spread is the difference between the average interest rate earned on average interest-earning assets and the average interest rate paid on average interest-bearing liabilities.

5

Net interest margin is net interest income expressed as a percentage of average interest-earning assets.

Total interest and similar income

25,001

25,601

31,593

(600)

(2)

(5,992)

(19)

Total interest expenses

10,729

10,768

15,619

(39)

0

(4,851)

(31)

Net interest income

14,272

14,834

15,975

(562)

(4)

(1,141)

(7)

Average interest-earning assets1

1,040,908

1,136,662

1,250,002

(95,754)

(8)

(113,340)

(9)

Average interest-bearing liabilities1

851,714

979,245

1,119,374

(127,531)

(13)

(140,129)

(13)

Gross interest yield2

2.40 %

2.25 %

2.53 %

0.15 ppt

7

(0.28) ppt

(11)

Gross interest rate paid3

1.26 %

1.10 %

1.40 %

0.16 ppt

15

(0.30) ppt

(21)

Net interest spread4

1.14 %

1.15 %

1.13 %

(0.01) ppt

(1)

0.02 ppt

2

Net interest margin5

1.37 %

1.31 %

1.28 %

0.06 ppt

5

0.03 ppt

2

2014

The decrease in net interest income in 2014 of € 562 million, or 4 %, to € 14.3 billion compared to € 14.8 billion in 2013, was primarily driven by lower interest income in NCOU due to asset reductions as a result of our continued de-risking. Overall, the net interest spread decreased by 1 basis point as a result of slightly lower increase of gross interest yield as compared to gross interest rate paid. The net interest margin improved by 6 basis points, mainly due to effects resulting from the aforementioned asset reductions.

2013

The decrease in net interest income in 2013 of € 1.1 billion, or 7 %, to € 14.8 billion compared to € 16.0 billion in 2012, was primarily driven by lower interest income on trading assets in CB&S, due to lower client activity reflecting lower liquidity and ongoing market uncertainty. Another main driver of the decline in net interest income was the accelerated de-risking strategy in NCOU. In PBC, slightly reduced margins and a strategic deposit volume reduction in Postbank also impacted net interest income in 2013. Overall, the net interest spread increased by 2 basis points, following an almost parallel decline in gross interest yield and gross interest rate paid. The net interest margin improved by 3 basis points, mainly due to margin improvements in Germany.