Deutsche Bank Ag · XETR:DBK
Deutsche Bank — Morgan Stanley European Financials Conference 2013
21 slides from Deutsche Bank's conference presentation, Mar 21, 2013
Slide 1: Strategy 2015+: Progress update
Deutsche Bank Deutsche Bank AG Strategy 2015+: Progress update Anshu Jain, Co-Chairman of the Management Board and the Group Executive Committee Morgan Stanley European Financials Conference London 21 March 2013 London,
Slide 2: The macro environment has improved significantly…
The macro environment has improved significantly… Curtailment of tail risk… …and global growth is picking up Real GDP growth, in % 2012E 2013F 2014F ‘The ECB is ready to do whatever it takes to preserve the euro’ euro 2.9 Mario Draghi, Global Investment Conference 26 July 2012 Global 3.2 4.0 ‘The Go
Slide 3: …and markets have taken the cue
…and markets have taken the cue Decrease in volatility Higher equity markets VIX (S&P 500)(1) Indexed to 100 on 29 June 2012, in % Euro Stoxx 50 MSCI EM S&P 500 20 130 +20% 18 120 +15% 16 110 +11% 14 100 12 90 Jul Aug Sep Oct Nov Dec Jan Feb Mar Jul Aug Sep Oct Nov Dec Jan Feb Mar 2012 2013 2012 201
Slide 4: Industry consolidation validates our strategic view
Industry consolidation validates our strategic view Changing competitive landscape… …and share gains for global leaders Pro-forma B3 RWA-equivalent in investment bank, in EURbn Cumulative market share of top-5 players 2011 2014/2015 FICC Equities (1) ~240 <200 50 46 44 43 44 41 European >210 ~140 ba
Slide 5: Strategy 2015+: Progress against our published goals
Strategy 2015+: Progress against our published goals We aspire to be the leading client-centric global universal bank Capital Costs Competencies Clients Culture Deutsche Bank Anshu Jain financial transparency. 4 Morgan Stanley European Financials Conference, 21 March 2013
Slide 6: Revised 4Q / FY 2012 results at a glance
Revised 4Q / FY 2012 results at a glance In EUR bn, unless otherwise stated 4Q FY 2012 old 2012 new 2012 old 2012 new Net revenues 7.9 7.9 33.7 33.7 Performance P f Core Tier 1 ratio, Basel 3 fully loaded, in %(1) 8.0 7.8 8.0 7.8 highlights Dividend per share(2), EUR - - 0.75 0.75 Reported Group IBI
Slide 7: Capital: Significant progress…
Capital: Significant progress… We have narrowed the gap vs. peers… …and raised our target Pro-forma B3 CT1 ratio (fully loaded), in %, period end Pro-forma B3 CT1 ratio, (fully loaded), in %, period end 10 >180bps 8.5 7.8 ≥8.0 7.2 Peer (1) 9 average g <6.0 1.1 8 1.8 7 2.0 Actual Original Actual Orig
Slide 8: …thanks primarily to substantial capital demand reduction
…thanks primarily to substantial capital demand reduction Capital demand toolbox(1) Pro-forma Basel 3 RWA equivalent(2) relief, in EUR bn Achieved in Planned by 2H2012 31 Mar 2013(3) 1. Non-Core Operations Unit ~29 (excluding cross benefits from 3. and 4.) 2. P 2 Portfolio tf li optimization ti i ti
Slide 9: Costs: Operational Excellence Program well underway
Costs: Operational Excellence Program well underway Cost savings Achievements by December 2012 (selected examples) In EUR bn Achieved / underway Target IT platform — 660 applications decommissioned; new apps reduced by 50% 1.6 renewal — >20 million illi clients li t shifted hift d tto common retail
Slide 10: PBC: Solid performance, progress on Postbank integration
PBC: Solid performance, progress on Postbank integration Example challenges Business response FY12 vs. FY11, mortgages in Adv. Banking Germany +8% Market share +~30bps 30bps Persistently low interest growth in rate environment lending business Mortgage Market volume growth(1) share gain(2) AB Intern
Slide 11: CB&S: Strengthening our leading franchise despite a challenging environment
CB&S: Strengthening our leading franchise despite a challenging environment Example challenges Business response Global rankings 2012 Macroeconomic concerns and market volatility #1 #1 #1 #2 #2 Global leader in Overall FI FX US FI EU FI Asia FI Fixed Income (FI) (3 con- (8 con- rd th secutive secuti
Slide 12: CB&S: A transformed business model
CB&S: A transformed business model ILLUSTRATIVE We completely changed business mix... ... and de-risked in a lower return environment Share of Markets revenues CB&S, in EUR bn(2) Dedicated prop trading Client solutions Pre- Illiquid markets Most liquid flow C i i (3) Crisis 2012 Ch Change ~5% ~5% <5
Slide 13: AWM: Laying foundations for future performance
AWM: Laying foundations for future performance Example challenges Business response AWM FTE ((10)% ) Short-term consequences ~7,100 ~6,500 of strategic review Efficiency measures underway y Peak 31 Dec 2012 (June 2012) Complex five-way business integration g — Integrated organization with clear lead
Slide 14: GTB: Continued strong operating performance
GTB: Continued strong operating performance Example challenges Business response GTB fee income, in EUR bn(1) 31% Persistent low Higher fee 1.5 1.9 interest rates income FY07 FY12 Revenue growth, FY2012 vs. FY2011(1) 19% 23% Competitive pressure Above market 14% increasing g revenue g growth 9% Tota
Slide 15: Culture: Deutsche Bank is at the forefront of cultural change
Culture: Deutsche Bank is at the forefront of cultural change Existing cultural Further emphasis strengths required Focus areas Near Creating sustainable and respected compensation Long term term practices Performance orientation and culture sustainability Tightening the control environment Entrepre
Slide 16: Clients: Delivering on the promise of client-centricity
Clients: Delivering on the promise of client-centricity Provided >300,000 new mortgages in Germany, EUR 24bn volume, 12% of total new market Supported ~60,000 small business clients in starting up or developing Enabled 180 companies p worldwide to access the capital p markets for the first time Help
Slide 17: Important new development in our home market Germany
Important new development in our home market Germany New regional structure Key initiatives in Germany ILLUSTRATIVE 5 regional hubs — Integrate commercial banking coverage for Nord 24 key locations ~900,000 small- and mid-sized corporate Hamburg g O t Ost Existing E i ti advisory d i cclients e ts (
Slide 18: The regulatory environment: new challenges emerge…
The regulatory environment: new challenges emerge… …and may become more complex, especially A challenging regulatory environment… for European players Selected examples as of September 2012 Major developments since September 2012 — Basel 3 (Core)-Tier 1 ratio Capital, funding — LCR / NSFR Liikanen a
Slide 19: ...with unintended consequences for European industry, growth and competitiveness
...with unintended consequences for European industry, growth and competitiveness Potential unintended consequences Integrated global offering, delivered locally of regulatory proposals Increased cost of credit PBC CB&S AWM GTB NCOU Increased cost of hedging risk Reduced market liquidity ― Credit ―
Slide 20: Strategy 2015+: Key takeaways of progress update
Strategy 2015+: Key takeaways of progress update Since last summer the business environment has improved We are making good progress against our strategic objectives The regulatory g y environment has become even more complex, p p particularly y for European-based global universal banks We are nonet
Slide 21: Cautionary statements
Cautionary statements This presentation contains forward-looking statements. Forward-looking statements are statements that are not historical facts;; they y include statements about our beliefs and expectations p and the assumptions p underlying y g them. These statements are based on plans, estima
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