Remaining Noninterest 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 %

N/M – Not meaningful

 

 

 

 

 

 

 

1 includes:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Commissions and fees from fiduciary activities:

 

 

 

 

 

 

 

Commissions for administration

404

435

449

(31)

(7)

(13)

(3)

Commissions for assets under management

3,057

2,963

2,609

94

3

354

14

Commissions for other securities business

283

247

239

36

14

8

3

Total

3,745

3,646

3,297

98

3

349

11

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

 

 

 

 

 

 

 

Underwriting and advisory fees

2,545

2,378

2,318

167

7

60

3

Brokerage fees

1,488

1,542

1,526

(54)

(3)

15

1

Total

4,033

3,920

3,844

113

3

76

2

Fees for other customer services

4,632

4,742

4,667

(111)

(2)

76

2

Total commissions and fee income

12,409

12,308

11,809

101

1

500

4

Commissions and fee income1

12,409

12,308

11,809

101

1

500

4

Net gains (losses) on financial assets available for sale

242

394

301

(152)

(39)

93

31

Net income (loss) from equity method investments

619

369

163

251

68

206

127

Other income (loss)

108

193

(120)

(85)

(44)

313

N/M

Total remaining noninterest income

13,379

13,264

12,153

114

1

1,111

9

Commissions and fee income

2014

Total Commissions and fee income increased from € 12.3 billion in 2013 by € 101 million to € 12.4 billion in 2014. Advisory revenues were higher than in the prior year reflecting a higher fee pool and market share gains. Fees for assets under management increased due to a favorable development in European & U.S. exchange traded funds. This was offset by a decrease in Fees for other customer services, mainly triggered by changes in regulatory requirements with regard to payment and card fees as well as lower revenues from Postal Services. Additionally a change in the reporting classification of certain product-related expenses resulted in a further decline.

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.

Net gains (losses) on financial assets available for sale

2014

Net gains on financial assets available for sale were € 242 million in 2014 compared to € 394 million in 2013. The decline in 2014 mainly resulted from de-risking activities related to the NCOU.

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.

Net income (loss) from equity method investments

2014

Net gains from equity investments increased from € 369 million in 2013 to € 619 million in 2014. The drivers for this positive effect were prior year impairments in NCOU and an increased equity pick up related to the investment in Hua Xia Bank.

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.

Other income (loss)

2014

Other income declined from € 193 million in 2013 to € 108 million in 2014. The decline in 2014 was primarily related to the restructuring of the debt financing of Maher Terminals, which resulted in a reclassification of the cumulative mark-to-market loss from other comprehensive income to other income in NCOU.

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.