Deutsche Bank Ag · XETR:DBK

Deutsche Bank — UBS Global Financial Services Conference 2008

26 slides from Deutsche Bank's conference presentation, May 14, 2008

  1. Slide 1: Deutsche Bank - Michael Cohrs, UBS Global Financial Services Conference

    Deutsche Bank Michael Cohrs Head of Global Banking Member of the Group Executive Committee UBS Global Financial Services Conference New York, 14 May 2008 8cld0248_Screenshow.ppt

  2. Slide 2: Agenda

    Agenda 1 Deutsche Bank Group 2 Global Banking 3 Outlook Investor Relations 05/08 · 2 8cld0248_Screenshow.ppt

  3. Slide 3: Deutsche Bank has delivered five years of continued profit growth

    Deutsche Bank has delivered five years of continued profit growth … In EUR bn Income before income taxes Net income 33% p.a. 48% p.a. 8.7 6.5 8.3 6.1 6.1 3.5 4.0 2.5 2.8 1.4 2003 2004 2005 2006 2007 2003 2004 2005 2006 2007 Note: 2003 – 2005 based on US GAAP; 2006 onwards based on IFRS Investor Rela

  4. Slide 4: … and outperformed against key targets

    … and outperformed against key targets Reported Target definition Pre-tax RoE Diluted EPS In % In EUR 33 29 54% p.a. 13.05 26 11.48 24 10.79 25% 16 6.95 10 4.53 2.31 2003 2004 2005 2006 2007 2003 2004 2005 2006 2007 Note: 2003-2005 based on U.S. GAAP, 2006 onwards based on IFRS Investor Relations 05

  5. Slide 5: Delivery to shareholders is key

    Delivery to shareholders is key Dividend per share Cash returned to shareholders In EUR In EUR bn 3x 4.50(1) 14.6 4.00 7.3 2.50 Dividends(2) 1.70 1.50 7.2 Share retirements 2003 2004 2005 2006 2007 2003 - 2007 (1) Recommended (2) For 2007 incl. recommended dividend (incl. dividend on own shares) of

  6. Slide 6: 1Q2008: Pre-tax profit by segment

    1Q2008: Pre-tax profit by segment Income before income taxes, in EUR m CB&S GTB CI 2,181 17% 123% 679 214 250 305 (1,604) 1Q2007 1Q2008 1Q2007 1Q2008 1Q2007 1Q2008 AWM PBC C&A 0% 4% 293 304 188 188 (17) (72) 1Q2007 1Q2008 1Q2007 1Q2008 1Q2007 1Q2008 Investor Relations 05/08 · 6 8cld0248_Screenshow.p

  7. Slide 7: Relatively robust profitability through the downturn

    Relatively robust profitability through the downturn … Aggregate IBIT, 3Q2007/4Q2007/1Q2008, reported, in EUR bn Bank A 8.7 Bank B 8.1 2.6 Bank C 2.2 Bank D (0.8) Bank E (0.8) Bank F (14.6) Bank G (15.6) Bank H (15.9) Note: For peers IBIT reflects IBIT attributable to the shareholders of the parent

  8. Slide 8: … and the more so, on a like-for-like basis

    … and the more so, when compared on a ‘like-for-like’ basis Aggregate IBIT, 3Q2007/4Q2007/1Q2008, adjusted for FV on own debt, in EUR bn Bank A 7.7 Bank B 7.5 2.5 Bank C 0.8 Bank D (2.0) Bank E (2.3) Bank F (16.8) Bank G (17.3) Bank H (20.1) Fair value gains on own debt Note: Based on FY2007 and 1Q2

  9. Slide 9: Solid capital base with a Tier I ratio of 9.2%

    Solid capital base with a Tier I ratio of 9.2% Basel I Basel II 8.7 8.8 9% 8.4 8.6 9.2 Target range 8% 329 308 311 303 285 Tier I ratio, in % RWA, in EUR bn 31 Mar 30 Jun 30 Sep 31 Dec 31 Mar 2007 2008 Investor Relations 05/08 · 9 8cld0248_Screenshow.ppt

  10. Slide 10: Total Assets of EUR 2.3 trn under IFRS

    Total Assets of EUR 2.3 trn under IFRS Financial Assets at FV through P&L In EUR bn Loans Cash and deposits from banks Securities borrowed / central bank funds sold Other 2,305 Financial Assets at Fair Value through P&L „ Trading Assets: – Trading securities 436 – Positive market values from derivat

  11. Slide 11: Financial Assets at Fair Value through P&L: Breakdown

    Financial Assets at Fair Value through P&L: Breakdown 31 March 2008, in EUR bn Market risk reflected in VaR / Economic Capital 1,677 436 Trading securities „ 95% level 1 and 2 93 Other trading assets „ Includes Leveraged Finance, CRE Positive market „ Trading liabilities of EUR 838 bn values from „

  12. Slide 12: Unsecured funding base has grown, in quality and quantity

    Unsecured funding base has grown, in quality and quantity Unsecured funding by source, in EUR bn 3% 511 526 EUR (49) bn 104 153 358 + EUR 64 bn 422 30 Jun 2007 31 Mar 2008 Capital markets Short-term wholesale funding Retail deposits Fiduciary, clearing & other deposits Note: Figures may not add up d

  13. Slide 13: A funding cost advantage for Deutsche Bank

    A funding cost advantage for Deutsche Bank 5-year senior CDS, in bps 1 July 2007 30 April 2008 190 177 122 96 101 67 68 69 60 35 35 35 37 14 18 19 12 10 DB UBS Credit JPMorgan Citi Goldman Morgan Merrill Lehman Suisse Chase Sachs Stanley Lynch Brothers Note: Goldman Sachs, Merrill Lynch, Lehman Brot

  14. Slide 14: Agenda

    Agenda 1 Deutsche Bank Group 2 Global Banking 3 Outlook Investor Relations 05/08 · 14 8cld0248_Screenshow.ppt

  15. Slide 15: Corporate Finance has well diversified revenues by region and product

    Corporate Finance has well diversified revenues by region and by product Corporate Finance 2007 revenues(1) By region By product Asset Asia - Finance & Pacific Loan Leasing products Germany Rest of Lending M&A Europe (2) Equity CM High Yield Americas Commercial CM Real Estate (1) Corporate Finance r

  16. Slide 16: We maintain our leadership position in Europe in Corporate Finance

    Despite market conditions, we maintain our leadership position in Europe in Corporate Finance Corporate Finance – market share and rank 2004 – 2007 Fee pool market share (%) Rank 1 1 1 1 10 10 10 10 6 10 7 9 7 6 7 8 10% 2004 2005 2006 2007 8% 6% 4% 2% 0% EMEA Americas Asia / Pacific Global Source: D

  17. Slide 17: We continue to maintain leadership positions in growing markets

    We continue to maintain leadership positions in growing markets Leadership in key markets Deutsche Bank’s landmark deals Region CF rank „ Rio Tinto’s $44bn acquisition of Alcan (largest transaction ever in metals and mining sector) Russia 1 „ Lyondell Chemicals Company’s $19bn sale to Basell AF (lar

  18. Slide 18: Leveraged Finance exposure: Current status

    Leveraged Finance exposure: Current status Composition of current loans and loan commitments In EUR bn 31 Dec 2007 total loans and loan commitments 36.2 16.6 FX (2.7) 30.2 Sales (0.4) 1.7 Loans held (2.9) Restructured (0.5) New Commitments 0.6 31 Mar 2008 total loans and loan commitments 33.1 16.5 G

  19. Slide 19: Commercial Real Estate: Summary of traded whole loans

    Commercial Real Estate: Summary of traded whole loans Composition of traded whole loans and loan commitments(1) In EUR bn 31 Dec 2007 total loans and loan commitments 17.2 15.5 FX (0.6) Other Sales (0.2) 2.0 Europe 31 Mar 2008 total loans and loan commitments 16.4 Gross mark-downs(2) 6.5 Germany (5.

  20. Slide 20: Our GTB business also has a well diversified product mix

    Our GTB business also has a well diversified product mix, … Global Transaction Banking 2007 revenues By region By product Asia - Capital Pacific Market Sales Cash Mgt Trade Corporates Finance Germany Rest of Europe Cash Mgt Financial Trust & Institutions Securities Americas Services Note: Figures ma

  21. Slide 21: … has leadership positions in key products

    … has leadership positions in key products … Product Rank Market share Euro clearing(1) 1 17% USD clearing(2) 5 9% Export LCs Germany(3) 1 23% Trustee for US Asset & Mortgage 2 21% Backed Securities(4) US Debt (all) Trustee(5) 2 11% Trade Finance Loans(6) 5 6% (1) Bundesbank: RTGS+/Target (as of Oct

  22. Slide 22: … and is well on the road to achieving EUR 1 bn profit target

    … and is well on the road to achieving EUR 1 bn profit target EUR 1 bn target 2008 Tactics Income before income taxes, in EUR m „ Continue organic top line growth – focus on Europe +34% „ Further deepen our footprint and market 1,000 perception in Americas through a corporate 945 +63% strategy 705 „

  23. Slide 23: Agenda

    Agenda 1 Deutsche Bank Group 2 Global Banking 3 Outlook Investor Relations 05/08 · 23 8cld0248_Screenshow.ppt

  24. Slide 24: We leverage our global platform for accelerated growth

    We leverage our global platform for accelerated growth … Capital, liquidity and Investment Banking 'Stable' businesses exposures „ Market conditions impact „ GTB: Further momentum „ Continue to focus on reducing structured credit exposures in critical areas „ Share gains in 'flow' products „ PBC: Re

  25. Slide 25: Longer-term trends continue to favour Deutsche Bank

    … while longer-term trends continue to favour Deutsche Bank Trend Features Deutsche Bank strengths „ Regional business diversification „ Growth of emerging markets „ Global network Globalisation „ Geographical boundaries disappear „ Global capital market access „ Global players act locally „ Local p

  26. Slide 26: Cautionary statements

    Cautionary statements This presentation also contains forward-looking statements. Forward-looking statements are statements that are not historical facts; they include statements about our beliefs and expectations and the assumptions underlying them. These statements are based on plans, estimates an

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