|
|
Three months ended |
|
|
Nine months ended |
|
|
||||
|
in € m. |
Sep 30, 2014 |
Sep 30, 2013 |
Absolute Change |
Change |
Sep 30, 2014 |
Sep 30, 2013 |
Absolute Change |
Change |
||
|
||||||||||
|
Net revenues |
0 |
(168) |
168 |
N/M |
(492) |
(595) |
103 |
(17) |
||
|
Provision for credit losses |
0 |
0 |
0 |
N/M |
1 |
0 |
0 |
N/M |
||
|
Noninterest expenses |
46 |
(6) |
51 |
N/M |
133 |
38 |
95 |
N/M |
||
|
Noncontrolling interests |
(3) |
(10) |
7 |
(73) |
(24) |
(20) |
(4) |
18 |
||
|
Income (loss) before income taxes |
(43) |
(153) |
110 |
(72) |
(601) |
(613) |
11 |
(2) |
||
2014 to 2013 Three Months Comparison
Loss before income taxes in C&A was € 43 million in the third quarter 2014, compared to a loss of € 153 million in the prior year quarter. This development was predominantly attributable to valuation and timing differences from different accounting methods used for management reporting and IFRS, which showed a positive impact of € 4 million compared to negative € 59 million in the prior year quarter, as well as positive € 36 million FVA in the third quarter 2014 on internal uncollateralized derivatives between Treasury and CB&S.
2014 to 2013 Nine Months Comparison
Loss before income taxes in C&A was € 601 million in the nine months 2014, compared to a loss of € 613 million in the prior year nine months. Results in the first nine months 2014 included negative € 84 million FVA on internal uncollateralized derivatives between Treasury and CB&S. Valuation and timing differences were negative € 143 million compared to negative € 226 million in the same period last year, due to effects related to shifts of the euro and U.S. dollar interest rate curves and the impact from widened U.S. dollar/euro basis swap spread. Noninterest expenses in the first nine months 2014 also include a negative € 121 million from Bank levies compared to a negative € 66 million in the same period in the prior year.