in € m. |
|
|
|
2016 increase |
2015 increase |
||||||||||||||
(unless stated otherwise) |
2016 |
2015 |
2014 |
in € m. |
in % |
in € m. |
in % |
||||||||||||
|
|||||||||||||||||||
Total interest and similar income |
25,636 |
25,967 |
25,001 |
(331) |
(1) |
966 |
4 |
||||||||||||
Total interest expenses |
10,929 |
10,086 |
10,729 |
843 |
8 |
(643) |
(6) |
||||||||||||
Net interest income |
14,707 |
15,881 |
14,272 |
(1,175) |
(7) |
1,610 |
11 |
||||||||||||
Average interest-earning assets1 |
1,033,172 |
1,031,827 |
1,040,908 |
1,345 |
0 |
(9,080) |
(1) |
||||||||||||
Average interest-bearing liabilities1 |
812,578 |
816,793 |
855,105 |
(4,215) |
(1) |
(38,312) |
(4) |
||||||||||||
Gross interest yield2 |
2.39 % |
2.52 % |
2.40 % |
(0.13) ppt |
(5) |
0.12 ppt |
5 |
||||||||||||
Gross interest rate paid3 |
1.23 % |
1.23 % |
1.25 % |
0.00 ppt |
0 |
(0.02) ppt |
(2) |
||||||||||||
Net interest spread4 |
1.16 % |
1.28 % |
1.14 % |
(0.12) ppt |
(9) |
0.14 ppt |
12 |
||||||||||||
Net interest margin5 |
1.42 % |
1.54 % |
1.37 % |
(0.12) ppt |
(8) |
0.17 ppt |
12 |
||||||||||||
2016
Net interest income was € 14.7 billion in 2016 compared to € 15.9 billion in 2015. The decrease of € 1.2 billion, or 7 %, was mainly driven by higher interest expenses and lower interest income. Net interest income in GM was lower and included lower revenues from Prime Finance due to reduced client balances. Higher interest expenses in GM included the impact of higher cost of funding. Interest income in CIB declined due to margin compression, the low interest rate environment, depressed trade volume and internal strategic perimeter decisions as part of our targets originally announced in October 2015. Both, the net interest spread and the net interest margin declined by 12 basis points in 2016 as compared to prior year.
2015
The increase in net interest income in 2015 of € 1.6 billion, or 11 %, to € 15.9 billion compared to € 14.3 billion in 2014, was primarily driven by higher interest income on trading assets in GM, mainly from strong client activity and increased client balances. Also contributing to the increase were favorable foreign exchange rate movements and organic growth in Deutsche AM. Overall, the net interest spread increased by 14 basis points and the net interest margin improved by 17 basis points primarily driven by lower interest related volume, an increase in interest income and a decrease in interest expenses in 2015 as compared to prior year.