The following is a discussion of the results of our business segments. See Note 4 “Business Segments and Related Information” to the consolidated financial statements for information regarding:
- changes in the format of our segment disclosure;
- the framework of our management reporting systems and
- definitions of non-GAAP financial measures that are used with respect to each segment.
The criterion for segmentation into divisions is our organizational structure as it existed at December 31, 2014. Segment results were prepared in accordance with our management reporting systems.
2014
in € m. |
Corporate Banking & Securities |
Private & Business Clients |
Global Transaction Banking |
Deutsche Asset & Wealth Management |
Non-Core Operations Unit |
Total Management Reporting |
Consolidation & Adjustments |
Total Consolidated |
||||||
|
||||||||||||||
Net revenues1 |
13,742 |
9,639 |
4,146 |
4,708 |
211 |
32,446 |
(497) |
31,949 |
||||||
Provision for credit losses |
103 |
622 |
156 |
(7) |
259 |
1,133 |
1 |
1,134 |
||||||
Total noninterest expenses |
10,348 |
7,682 |
2,791 |
3,685 |
2,804 |
27,310 |
389 |
27,699 |
||||||
thereof: |
|
|
|
|
|
|
|
|
||||||
Depreciation, depletion and amortization |
2 |
0 |
0 |
0 |
0 |
2 |
117 |
120 |
||||||
Severance payments |
46 |
134 |
11 |
10 |
5 |
207 |
36 |
242 |
||||||
Policyholder benefits and claims |
0 |
0 |
0 |
289 |
0 |
289 |
0 |
289 |
||||||
Restructuring activities |
112 |
9 |
10 |
(3) |
4 |
133 |
0 |
133 |
||||||
Impairment of intangible assets |
0 |
0 |
0 |
(83) |
194 |
111 |
0 |
111 |
||||||
Noncontrolling interests |
25 |
1 |
0 |
4 |
(2) |
28 |
(28) |
0 |
||||||
Income (loss) before income taxes |
3,266 |
1,335 |
1,198 |
1,027 |
(2,851) |
3,975 |
(859) |
3,116 |
||||||
Cost/income ratio |
75 % |
80 % |
67 % |
78 % |
N/M |
84 % |
N/M |
87 % |
||||||
Assets2 |
1,213,612 |
258,381 |
106,252 |
81,132 |
38,853 |
1,698,230 |
10,474 |
1,708,703 |
||||||
Expenditures for additions to long-lived assets |
0 |
108 |
0 |
1 |
0 |
109 |
517 |
626 |
||||||
Risk-weighted assets3 |
175,561 |
79,571 |
43,265 |
16,597 |
58,538 |
373,532 |
20,437 |
393,969 |
||||||
Average active equity |
24,204 |
14,420 |
5,860 |
6,454 |
7,649 |
58,588 |
2,037 |
60,624 |
||||||
Pre-tax return on average active equity |
13 % |
9 % |
20 % |
16 % |
(37) % |
7 % |
N/M |
5 % |
||||||
Post-tax return on average active equity4 |
9 % |
6 % |
14 % |
11 % |
(25) % |
N/M |
N/M |
3 % |
||||||
1 Includes: |
|
|
|
|
|
|
|
|
||||||
Net interest income |
5,451 |
5,887 |
1,875 |
1,052 |
90 |
14,355 |
(83) |
14,272 |
||||||
Net income (loss) from equity method investments |
128 |
431 |
3 |
22 |
34 |
617 |
2 |
619 |
||||||
2 Includes: |
|
|
|
|
|
|
|
|
||||||
Equity method investments |
521 |
3,154 |
50 |
163 |
170 |
4,058 |
85 |
4,143 |
2013
in € m. |
Corporate Banking & Securities |
Private & Business Clients |
Global Transaction Banking |
Deutsche Asset & Wealth Management |
Non-Core Operations Unit |
Total Management Reporting |
Consolidation & Adjustments |
Total Consolidated |
||||||
|
||||||||||||||
Net revenues1 |
13,526 |
9,550 |
4,069 |
4,735 |
964 |
32,844 |
(929) |
31,915 |
||||||
Provision for credit losses |
189 |
719 |
315 |
23 |
818 |
2,064 |
0 |
2,065 |
||||||
Total noninterest expenses |
10,162 |
7,276 |
2,648 |
3,929 |
3,550 |
27,564 |
830 |
28,394 |
||||||
thereof: |
|
|
|
|
|
|
|
|
||||||
Depreciation, depletion and amortization |
2 |
0 |
0 |
0 |
2 |
5 |
18 |
23 |
||||||
Severance payments |
26 |
224 |
8 |
5 |
14 |
278 |
25 |
303 |
||||||
Policyholder benefits and claims |
0 |
0 |
0 |
460 |
0 |
460 |
0 |
460 |
||||||
Restructuring activities |
130 |
22 |
54 |
170 |
25 |
399 |
0 |
399 |
||||||
Impairment of intangible assets |
0 |
7 |
57 |
14 |
0 |
79 |
0 |
79 |
||||||
Noncontrolling interests |
16 |
0 |
0 |
1 |
(3) |
15 |
(15) |
0 |
||||||
Income (loss) before income taxes |
3,158 |
1,555 |
1,107 |
782 |
(3,402) |
3,200 |
(1,744) |
1,456 |
||||||
Cost/income ratio |
75 % |
76 % |
65 % |
83 % |
N/M |
84 % |
N/M |
89 % |
||||||
Assets2 |
1,102,007 |
265,360 |
97,240 |
72,613 |
63,810 |
1,601,029 |
10,371 |
1,611,400 |
||||||
Expenditures for additions to long-lived assets |
12 |
176 |
9 |
7 |
0 |
203 |
539 |
742 |
||||||
Risk-weighted assets (Basel 2.5) |
114,729 |
73,001 |
36,811 |
12,553 |
52,443 |
289,537 |
10,832 |
300,369 |
||||||
Average active equity3 |
20,161 |
13,976 |
5,136 |
5,864 |
10,296 |
55,434 |
0 |
55,434 |
||||||
Pre-tax return on average active equity |
16 % |
11 % |
22 % |
13 % |
(33) % |
6 % |
N/M |
3 % |
||||||
Post-tax return on average active equity4 |
9 % |
6 % |
13 % |
8 % |
(19) % |
N/M |
N/M |
1 % |
||||||
1 Includes: |
|
|
|
|
|
|
|
|
||||||
Net interest income |
5,409 |
5,963 |
1,930 |
988 |
618 |
14,909 |
(76) |
14,834 |
||||||
Net income (loss) from equity method investments |
78 |
375 |
3 |
18 |
(106) |
368 |
1 |
369 |
||||||
2 Includes: |
|
|
|
|
|
|
|
|
||||||
Equity method investments |
628 |
2,563 |
48 |
143 |
171 |
3,554 |
28 |
3,581 |
2012
in € m. |
Corporate Banking & Securities |
Private & Business Clients |
Global Transaction Banking |
Deutsche Asset & Wealth Management |
Non-Core Operations Unit |
Total Management Reporting |
Consolidation & Adjustments |
Total Consolidated |
||||||
|
||||||||||||||
Net revenues1 |
15,073 |
9,540 |
4,200 |
4,472 |
1,427 |
34,711 |
(975) |
33,736 |
||||||
Provision for credit losses |
81 |
781 |
208 |
18 |
634 |
1,721 |
0 |
1,721 |
||||||
Total noninterest expenses |
12,071 |
7,224 |
3,327 |
4,299 |
3,697 |
30,618 |
582 |
31,201 |
||||||
thereof: |
|
|
|
|
|
|
|
|
||||||
Depreciation, depletion and amortization |
5 |
0 |
0 |
0 |
2 |
8 |
17 |
25 |
||||||
Severance payments |
164 |
249 |
24 |
42 |
4 |
484 |
59 |
543 |
||||||
Policyholder benefits and claims |
0 |
0 |
0 |
414 |
0 |
414 |
0 |
414 |
||||||
Restructuring activities |
236 |
0 |
40 |
104 |
12 |
392 |
0 |
394 |
||||||
Impairment of intangible assets |
1,174 |
15 |
73 |
202 |
421 |
1,886 |
0 |
1,886 |
||||||
Noncontrolling interests |
17 |
16 |
0 |
1 |
31 |
65 |
(65) |
0 |
||||||
Income (loss) before income taxes |
2,904 |
1,519 |
664 |
154 |
(2,935) |
2,307 |
(1,493) |
814 |
||||||
Cost/income ratio |
80 % |
76 % |
79 % |
96 % |
N/M |
88 % |
N/M |
92 % |
||||||
Assets2 |
1,448,924 |
282,428 |
87,997 |
78,103 |
113,247 |
2,010,699 |
11,576 |
2,022,275 |
||||||
Expenditures for additions to long-lived assets |
15 |
140 |
1 |
1 |
0 |
157 |
477 |
634 |
||||||
Risk-weighted assets (Basel 2.5) |
112,630 |
72,695 |
34,976 |
12,429 |
84,743 |
317,472 |
16,133 |
333,605 |
||||||
Average active equity3 |
20,213 |
12,177 |
4,181 |
5,916 |
12,440 |
54,927 |
0 |
54,927 |
||||||
Pre-tax return on average active equity |
14 % |
12 % |
16 % |
3 % |
(24) % |
4 % |
N/M |
1 % |
||||||
Post-tax return on average active equity4 |
9 % |
8 % |
10 % |
2 % |
(15) % |
N/M |
N/M |
0 % |
||||||
1 Includes: |
|
|
|
|
|
|
|
|
||||||
Net interest income |
5,244 |
6,115 |
1,964 |
1,033 |
1,496 |
15,851 |
123 |
15,975 |
||||||
Net income (loss) from equity method investments |
131 |
312 |
5 |
6 |
(295) |
159 |
4 |
163 |
||||||
2 Includes: |
|
|
|
|
|
|
|
|
||||||
Equity method investments |
750 |
2,303 |
46 |
131 |
307 |
3,538 |
39 |
3,577 |