Net Interest Income |
|||||||
in € m. |
2014 |
2013 |
2012 |
||||
|
|||||||
Interest and similar income: |
|
|
|
||||
Interest-earning deposits with banks |
683 |
759 |
928 |
||||
Central bank funds sold and securities purchased under resale agreements |
408 |
412 |
762 |
||||
Securities borrowed1 |
(313) |
(375) |
(519) |
||||
Interest income on financial assets available for sale |
1,341 |
1,312 |
1,449 |
||||
Dividend income on financial assets available for sale |
97 |
81 |
141 |
||||
Loans |
11,820 |
11,941 |
13,658 |
||||
Other |
1,161 |
741 |
986 |
||||
Total Interest and similar income not at fair value through profit or loss |
15,196 |
14,872 |
17,404 |
||||
Financial assets at fair value through profit or loss |
9,805 |
10,729 |
14,189 |
||||
Total interest and similar income1 |
25,001 |
25,601 |
31,593 |
||||
Interest expense: |
|
|
|
||||
Interest-bearing deposits2 |
3,210 |
3,360 |
4,946 |
||||
Central bank funds purchased and securities sold under repurchase agreements |
160 |
186 |
315 |
||||
Securities loaned1 |
(157) |
(216) |
(301) |
||||
Other short-term borrowings |
214 |
285 |
342 |
||||
Long-term debt2 |
1,882 |
1,568 |
2,686 |
||||
Trust preferred securities |
785 |
849 |
842 |
||||
Other |
371 |
200 |
140 |
||||
Total Interest expense not at fair value through profit or loss |
6,465 |
6,232 |
8,971 |
||||
Financial liabilities at fair value through profit or loss |
4,264 |
4,535 |
6,648 |
||||
Total interest expense1 |
10,729 |
10,768 |
15,619 |
||||
Net interest income |
14,272 |
14,834 |
15,975 |
||||
Interest income recorded on impaired financial assets was € 94 million, € 76 million and € 100 million for the years ended December 31, 2014, 2013 and 2012, respectively.
Net Gains (Losses) on Financial Assets/Liabilities at Fair Value through Profit or Loss |
|||||||
in € m. |
2014 |
2013 |
2012 |
||||
|
|||||||
Trading income: |
|
|
|
||||
Sales & Trading (equity) |
1,686 |
1,573 |
1,594 |
||||
Sales & Trading (debt and other products) |
2,583 |
2,465 |
4,810 |
||||
Total Sales & Trading |
4,269 |
4,039 |
6,404 |
||||
Other trading income |
137 |
(377) |
(1,205) |
||||
Total trading income1 |
4,407 |
3,662 |
5,199 |
||||
Net gains (losses) on financial assets/liabilities designated at fair value through profit or loss: |
|
|
|
||||
Breakdown by financial asset/liability category: |
|
|
|
||||
Securities purchased/sold under resale/repurchase agreements |
(15) |
31 |
14 |
||||
Securities borrowed/loaned |
0 |
0 |
(1) |
||||
Loans and loan commitments |
(20) |
(46) |
739 |
||||
Deposits |
(1) |
73 |
(56) |
||||
Long-term debt2 |
(538) |
133 |
(328) |
||||
Other financial assets/liabilities designated at fair value through profit or loss |
467 |
(35) |
41 |
||||
Total net gains (losses) on financial assets/liabilities designated at fair value through profit or loss |
(108) |
155 |
409 |
||||
Total net gains (losses) on financial assets/liabilities at fair value through profit or loss |
4,299 |
3,817 |
5,608 |
||||
Combined Net Interest Income and Net Gains (Losses) on Financial Assets/Liabilities at Fair Value through Profit or Loss |
|||||||
in € m. |
2014 |
2013 |
2012 |
||||
|
|||||||
Net interest income |
14,272 |
14,834 |
15,975 |
||||
Net gains (losses) on financial assets/liabilities at fair value through profit or loss |
4,299 |
3,817 |
5,608 |
||||
Total net interest income and net gains (losses) on financial assets/liabilities at fair value through profit or loss |
18,570 |
18,651 |
21,583 |
||||
Net interest income and net gains (losses) on financial assets/liabilities at fair value through profit or loss by Corporate Division/product: |
|
|
|
||||
Sales & Trading (equity) |
2,314 |
2,129 |
1,732 |
||||
Sales & Trading (debt and other products) |
6,685 |
6,069 |
7,851 |
||||
Total Sales & Trading |
8,998 |
8,197 |
9,582 |
||||
Loan products1 |
695 |
599 |
182 |
||||
Remaining products2 |
(61) |
72 |
589 |
||||
Corporate Banking & Securities |
9,632 |
8,869 |
10,353 |
||||
Private & Business Clients |
5,962 |
5,966 |
6,220 |
||||
Global Transaction Banking |
2,232 |
1,984 |
2,016 |
||||
Deutsche Asset & Wealth Management |
1,505 |
1,568 |
1,974 |
||||
Non-Core Operations Unit |
(573) |
245 |
650 |
||||
Consolidation & Adjustments |
(187) |
19 |
369 |
||||
Total net interest income and net gains (losses) on financial assets/liabilities at fair value through profit or loss |
18,570 |
18,651 |
21,583 |
||||
The Group’s trading and risk management businesses include significant activities in interest rate instruments and related derivatives. Under IFRS, interest and similar income earned from trading instruments and financial instruments designated at fair value through profit or loss (i.e., coupon and dividend income), and the costs of funding net trading positions, are part of net interest income. The Group’s trading activities can periodically drive income to either net interest income or to net gains (losses) of financial assets/liabilities at fair value through profit or loss depending on a variety of factors, including risk management strategies. In order to provide a more business-focused presentation, the Group combines net interest income and net gains (losses) of financial assets/liabilities at fair value through profit or loss by business division and by product within CB&S.
