Deutsche Bank Ag · XETR:DBK

Deutsche Bank — 4th Sal. Oppenheim European Financials Conference 2007

28 slides from Deutsche Bank's conference presentation, Nov 20, 2007

  1. Slide 1: Deutsche Bank Private & Business Clients

    Deutsche Bank Private & Business Clients Dr. Christian Ricken CFO Private & Business Clients 4th Sal. Oppenheim European Financials Conference Zurich, 20 November 2007

  2. Slide 2: Deutsche Bank business structure

    financial transparency. Deutsche Bank business structure CIB PCAM Corporate Asset and Investments Global Global Private & Wealth Markets Banking(1) Business Clients Management(2) (1) Includes GTB (2) Includes Asset Management and Private Wealth Management Investor Relations 11/07 · 2

  3. Slide 3: Agenda

    financial transparency. Agenda 1 PBC: A dynamic business 2 Update on growth initiatives 3 Managing the cost base 4 Growth and value creation Investor Relations 11/07 · 3

  4. Slide 4: PBC: A dynamic business

    financial transparency. PBC: A dynamic business … Expansion of distribution network Initiatives & Acquisitions Acquisition Market Relaunch 2004 2005 2006 2007 Co-operations China CC BancoPosta Investor Relations 11/07 · 4

  5. Slide 5: … with growth across the board …

    financial transparency. … with growth across the board … In EUR bn Revenues Invested assets Loan book CAGR 8% CAGR 11% 200 5.7 CAGR 9% 85 4.5 67 150 2004 9M2007 31 Dec 2004 30 Sep 2007 31 Dec 2004 30 Sep 2007 annualized Note: 2004 based on U.S. GAAP; from 2006 onwards based on IFRS Investor Relation

  6. Slide 6: … and a track-record of delivery

    financial transparency. … and a track-record of delivery Income before income taxes, in EUR m Target: EUR >1.3 bn Target: EUR 1 bn 1,041 1,005 1,005 461 894 Jan - Sep 2007 2003 2004 2005 2006 2007 2008 Underlying U.S. GAAP Reported IFRS Note: 2003 – 2005 figures are underlying results based on U.S.

  7. Slide 7: Best-ever quarterly pre-tax profits …

    financial transparency. Best-ever quarterly pre-tax profits … Results at a glance Condensed P&L Income before income taxes, in EUR m In EUR m Jan- Δ vs. Key ratios, in % 3Q Δ vs. Sep Jan-Sep 2007 3Q2006 15% 2007 2006 Revenues 1,441 15% 4,309 13% 301 293 297 304 252 264 Provisions* (124) 18% (364) 28

  8. Slide 8: … with strong client and volume gains especially in Germany and new markets …

    financial transparency. … with strong client and volume gains especially in Germany and new markets … Net new clients Net new client business volume (1) In thousand In EUR bn 676 17.0 (2) 256 7.3 238 5.3 182 4.3 35 15 1Q2007 2Q2007 3Q2007 1Q2007 2Q2007 3Q2007 Germany Asia Other (1) Client Business V

  9. Slide 9: … and highly competitive in our home market

    financial transparency. … and highly competitive in our home market PBC Germany and equivalents, Jan-Sep 2007 vs. Jan-Sep 2006, in % Revenues Total Revenues(1) Revenues(1) 15% 15% ∅ peers 2% 5% Net interest revenues(2) 14% 2% ∅ peers 0% Non-interest revenues(2),(3) (0)% 14% ∅ peers 3% (0)% PBC Germa

  10. Slide 10: Agenda

    financial transparency. Agenda 1 PBC: A dynamic business 2 Update on growth initiatives 3 Managing the cost base 4 Growth and value creation Investor Relations 11/07 · 10

  11. Slide 11: A stable business model based on two core competencies

    financial transparency. A stable business model based on two core competencies Private & Business Clients Advisory Banking Consumer Banking 1 Berliner Bank 2 Norisbank 3 Poland: Branch network 4 Poland: db kredyt 5 India: Branch business 5 India: Credit card business 6 China: Cooperation 6 China: La

  12. Slide 12: Berliner Bank: Smooth integration resulting in strong business results

    financial transparency. 1 Berliner Bank: Smooth integration resulting in strong business results Closing Today Post-Integration „ Ca. 320,000 clients „ Growing client base „ Growing client base Portfolio „ EUR 2.4 bn loan portfolio „ Stable loan portfolio and „ Growing client business and EUR 4.8 bn

  13. Slide 13: norisbank: Successful integration shows first business results

    financial transparency. 2 norisbank: Successful integration shows first business results Closing Today Post-Integration „ Ca. 330,000 clients „ Increasing client base „ Growing client base to „ EUR 1.4 bn loan portfolio „ Increasing client business 1 million in 2010 Portfolio and EUR 1.4 bn deposits

  14. Slide 14: norisbank: Market Relaunch in September 2007

    financial transparency. 2 norisbank: Market Relaunch in September 2007 Market Relaunch Goals „ Brand Relaunch and new value proposition introduced by marketing campaign „ Focused portfolio of attractive basic banking products. Launch of new products (e.g. Top- Girokonto, Top3-Zinskonto) „ Focus on c

  15. Slide 15: Poland: Investments in advisory banking pay off

    financial transparency. 3 Poland: Investments in advisory banking pay off Number of branches Revenues In EUR m 2x 4x 62 63 82 52 52 32 23 30 31 Dec 31 Dec 31 Dec 30 Sep 2004 2005 2006 Jan - Sep 2007 2004 2005 2006 2007 annualized Number of employees Client Business Volume* In EUR m 2x 900 4x 3,446 7

  16. Slide 16: Poland: Successful entry in consumer finance market

    financial transparency. 4 Poland: Successful entry in consumer finance market Number of db kredyt-shops Revenues 2x 60 42 29 31 Mar 30 Jun 30 Sep 1Q2007 2Q2007 3Q2007 2007 2007 2007 Number of employees Client Business Volume* In EUR m 2x 380 7x 55 297 220 27 8 31 Mar 30 Jun 30 Sep 31 Mar 30 Jun 30 S

  17. Slide 17: India: Successful start for branch business and credit card activities

    financial transparency. 5 India: Successful start for branch business and credit card activities In thds. Credit card business only 32x 414 Clients 325 247 Delhi 167 28 70 13 31 Mar 30 Jun 30 Sep 31 Dec 31 Mar 30 Jun 30 Sep Kolkata 2006 2006 2006 2006 2007 2007 2007 Mumbai In EUR m new branches 404

  18. Slide 18: China: Market entry via own branches and cooperation

    financial transparency. 6 China: Market entry via own branches and cooperation HuaXia investment HuaXia cooperation & PBC business „ Cooperation with HuaXia Bank includes: – Exclusive credit card cooperation launched in 2Q2007 – Development of additional business cooperation (e.g. joint affluent pro

  19. Slide 19: China: Credit card joint venture

    financial transparency. 6 China: Credit card joint venture A significant milestone in China Successful start Two Phase Entry Strategy for China: „ Launched in 2Q2007 „ Standalone Business Unit (BU) within HuaXia Bank, set up to launch „ Ca. 80,000 credit cards sold in the Co-branded DB-HXB cards fir

  20. Slide 20: Investment in Emerging Markets will continue

    financial transparency. Investment in Emerging Markets will continue Poland „ Continue with branch network expansion „ Extend Consumer Finance activities India „ Continue with branch network expansion „ Further develop credit card business China „ Extend business cooperation with HuaXia Bank (mainly

  21. Slide 21: Agenda

    financial transparency. Agenda 1 PBC: A dynamic business 2 Update on growth initiatives 3 Managing the cost base 4 Growth and value creation Investor Relations 11/07 · 21

  22. Slide 22: Costs are managed in a systematic way

    financial transparency. Costs are managed in a systematic way Targets Cost/Income-Ratio Cost structure Operating model Cost optimization actions Governance „ Structural/strategic „ Accountability/Responsibility „ Operational/tactical „ KPIs „ Service relationships „ Cost committees „ Cost management

  23. Slide 23: After bold restructuring – rigid cost management and step by step optimization of cost base

    financial transparency. After bold restructuring – rigid cost management and step by step optimization of cost base Some cost optimization projects since 2004 Timing Results 30% reduction of Germany: Move on new branch IT 2004 – 2006 branch IT infrastructure Infrastructure infrastructure costs 25% r

  24. Slide 24: Results include massive investments in future growth

    financial transparency. Results include massive investments in future growth Noninterest expenses, in EUR m PBC total CIR PBC total PBC without initiatives* CIR PBC without initiatives* CAGR 8% CAGR 2% 4.1 3.7 3.6 3.5 3.6 3.4 73.9% 72.2% 73.3% 70.8% 70.8% 68.6% 2005 2006 Jan - Sep 2007 annualized *

  25. Slide 25: Agenda

    financial transparency. Agenda 1 PBC: A dynamic business 2 Update on growth initiatives 3 Managing the cost base 4 Growth and value creation Investor Relations 11/07 · 25

  26. Slide 26: Revenue growth outperforming GDP growth in all markets

    financial transparency. Revenue growth outperforming GDP growth in all markets PBC revenues, in EUR bn GDP Regional split growth(3) 3.4 3.8 CAGR ~ 8% Germany 1.4% CAGR 6% CAGR ~10% CAGR 8% >6 5.7 4.5 1.1 1.2 Europe(1) 1.5% CAGR 8% CAGR ~5% CAGR ~100% CAGR 67% Emerging 0.0 0.1 8.0% Markets(2) 2004 9M

  27. Slide 27: PBC will deliver on clear targets

    financial transparency. PBC will deliver on clear targets Strategic focus Vision 2008 Advisory Consumer Banking Banking Keep revenue momentum > EUR 6 bn revenues Germany and capitalize on acquisitions Strengthen ‘visibility’ of our Europe > EUR 1.3 bn franchises pre-tax profit Emerging Get foothold

  28. Slide 28: Cautionary statements

    financial transparency. Cautionary statements Unless otherwise indicated, the financial information provided herein has been prepared under the International Financial Reporting Standards (IFRS). It may be subject to adjustments based on the preparation of the full set of financial statements for 20

Deutsche Bank — 4th Sal. Oppenheim European Financials Conference 2007 on 6ix