Deutsche Bank AG · XETR:DBK
Deutsche Bank — Shareholder Meeting (May 2008)
16 slides from Deutsche Bank's shareholder meeting presentation, May 29, 2008
Slide 1: Dr. Josef Ackermann, Chief Executive Officer
Deutsche Bank Dr. Josef Ackermann Chief Executive Officer Chairman of the Management Board Frankfurt, 29 May 2008
Slide 2: Challenging market environment since 2nd half 2007
Challenging market environment since 2nd half 2007 Increased uncertainties in credit markets Impact on equity indices 700 130 120 DAX(2) 500 110 Cost of credit risk(1) 100 300 S&P 500(2) 90 100 80 1 Jan 07 1 Jul 07 1 Jan 08 27 May 08 1 Jan 07 1 Jul 07 1 Jan 08 27 May 08 (1) iTraxx Generic Crossover:
Slide 3: A year of solid performance in challenging times
A year of solid performance in challenging times In EUR bn Net revenues Profit 8% 5% 30.7 8.3 8.7 28.5 6.1 6.5 7% 2006 2007 2006 2007 Income before income taxes Net income Press and Media Relations 05/08 · 2
Slide 4: Deutsche Bank enjoys a funding cost advantage
Deutsche Bank enjoys a funding cost advantage 5-year senior CDS, in bps 1 July 2007 27 May 2008 247 196 145 113 104 77 78 78 68 35 35 35 37 14 19 18 10 12 DB JPMorgan Credit UBS Goldman Citi Morgan Merrill Lehman Chase Suisse Sachs Stanley Lynch Brothers Source: Bloomberg, Deutsche Bank Press and Me
Slide 5: CIB: Solid profit growth
CIB: Solid profit growth Income before income taxes, in EUR bn 10% p.a. 6.1 5.1 4.3 3.5 2.8 2003 2004 2005 2006 2007 Note: 2003-2005 based on U.S. GAAP, 2003 based on structure as of 2005, 2004-2005 based on structure of 2006, 2006 onwards based on IFRS and on latest structure Press and Media Relati
Slide 6: PCAM: Sustained momentum
PCAM: Sustained momentum Income before income taxes, in EUR bn 15% p.a. 2.1 1.9 1.4 1.5 1.2 2003 2004 2005 2006 2007 Note: 2003-2005 based on U.S. GAAP, 2003 based on structure as of 2005, 2004-2005 based on structure of 2006, 2006 onwards based on IFRS and on latest structure Press and Media Relati
Slide 7: Delivery on targets
Delivery on targets Reported Target definition Pre-tax RoE Diluted EPS In % In EUR 33 29 13.05 54% p.a. 11.48 26 10.24 10.79 24 25% 14% 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 Press and Media Relations 05/0
Slide 8: Deutsche Bank share price above industry and major peers
Deutsche Bank share price above industry and major peers In EUR(1), indexed, 1 Jan 2007 = 100 120 110 STOXX Banks 100 90 80 International (29)% peers(2) 70 (34)% 60 50 (53)% 40 01.01.2007 01.07.2007 01.01.2008 1 Jan 07 31 Mar 07 30 Jun 07 30 Sep 07 31 Dec 07 31 Mar 08 27 May 08 (1) International pee
Slide 9: We maintain an attractive dividend policy
We maintain an attractive dividend policy Dividend per share, in EUR 3x 4.50 4.00 2.50 1.70 1.50 2003 2004 2005 2006 2007 Recommended Press and Media Relations 05/08 · 8
Slide 10: Our other stakeholders
Our other stakeholders Clients Employees Society Press and Media Relations 05/08 · 9
Slide 11: Staying the course - Clear priorities for the future
Staying the course - Clear priorities for the future Management Agenda Phase 3 2006 – 2008: Leveraging our global platform for accelerated growth Maintain our cost, risk, capital and Continue to invest in organic growth and regulatory discipline ‘bolt-on’ acquisitions Further grow our ‘stable’ busin
Slide 12: Sustained growth in 'stable' businesses
Sustained growth in ‘stable’ businesses Income before income taxes, in EUR bn GTB AWM >2x 14% PBC 3.0 2.6 1.9 1.6 1.4 2003* 2004 2005 2006 2007 * GTB adjusted for gain on sale of GSS Note: 2003-2005 based on U.S. GAAP, 2003 based on structure as of 2005, 2004-2005 based on structure of 2006, 2006 on
Slide 13: Building on our competitive edge in Investment Banking
Building on our competitive edge in Investment Banking CB&S net revenues, in EUR bn 9% p.a. 16.6 16.5 13.9 11.8 11.5 2003 2004 2005 2006 2007 Note: 2003-2005 based on U.S. GAAP, 2003 based on structure as of 2005, 2004-2005 based on structure of 2006, 2006 onwards based on IFRS and on latest structu
Slide 14: Well positioned for future growth
Well positioned for future growth Trend Deutsche Bank strengths Regional business diversification Global network Globalisation Global capital market access Local presence and culture Leadership in Investment Banking World-class Sales & Trading Growth of capital markets Growth in Corpor
Slide 15: Global growth initiatives
Global growth initiatives Acquisitions, partnerships and organic investments 2007 / 08 UK Abbey Life portfolio China Tilney integration Increased stakes in Hua Xia and Harvest Fund Management USA Germany Local incorporation of Stake in Aldus Equity Berliner Bank Deutsche Bank (China) Co.
Slide 16: Cautionary statements
Cautionary statements This presentation 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 and pro