Deutsche Bank Ag · XETR:DBK

Deutsche Bank — Goldman Sachs Annual European Financials Conference 2008

28 slides from Deutsche Bank's conference presentation, Jun 12, 2008

  1. Slide 1: Deutsche Bank - Rainer Neske

    Deutsche Bank Rainer Neske Head of Private & Business Clients Member of the Group Executive Committee Goldman Sachs Annual European Financials Conference Berlin, 12 June 2008 8cld0248_Screenshow.ppt

  2. Slide 2: Agenda

    Agenda 1 Deutsche Bank Group 2 Private & Business Clients 3 Outlook Investor Relations 06/08 · 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 U.S. 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 06

  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 14.5 4.00 7.2 2.50 Dividends 1.70 1.50 7.2 Share retirements 2003 2004 2005 2006 2007 2003 - 2007 Note: Figures may not add up due to rounding differences Investor Relations 06/08 · 5 8cld0248_S

  6. Slide 6: Deutsche Bank with relatively robust profitability through the downturn

    Deutsche Bank with relatively robust profitability through the downturn Aggregate IBIT, 3Q2007/4Q2007/1Q2008, reported, in EUR bn 8.7 8.1 2.6 2.2 (0.8) (0.8) (14.6) (15.6) (15.9) Note: For peers IBIT reflects IBIT attributable to the shareholders of the parent; translation into EUR based on average

  7. Slide 7: 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

  8. Slide 8: 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 06/08 · 8 8cld0248_Screenshow.p

  9. Slide 9: Agenda

    Agenda 1 Deutsche Bank Group 2 Private & Business Clients 3 Outlook Investor Relations 06/08 · 9 8cld0248_Screenshow.ppt

  10. Slide 10: PBC: A dynamic business …

    PBC: A dynamic business … 2004 2005 2006 2007 Target 2008 Acquisitions & stakes Stake Acquisition Stake Increase Acquisition Cooperations BancoPosta & initiatives Launch Relaunch Launch Launch Launch Launch Launch Credit Card Bankamiz Heilberufe Co-operation 32 52 62 129 ~200 Expansion* Network 3 5

  11. Slide 11: … with strong growth across the board in 2007

    … with strong growth across the board in 2007 2006 2007 Revenues Income before income taxes In EUR bn In EUR m Financials 12% 5.8 10% 1,146 5.1 1,041 CBV (1) Clients Net new CBV, in EUR bn (2) Net new clients, in thousand (2) Volumes 24.7 ~1,000 2x 2.5x 11.9 ~400 Branches FTE 10% ~23,200 ~21,200 Fra

  12. Slide 12: A stable business model with many growth areas

    A stable business model with many growth areas Private & Business Clients Advisory Banking Consumer Banking German network „ Germany: norisbank „ Deutsche Bank „ Italy: Prestitempo/ Cards „ Berliner Bank „ Poland: db kredyt Revenues CBV* FTE Revenues CBV* FTE „ Spain: DB Credit European network „ It

  13. Slide 13: PBC with strong revenue growth

    PBC with strong revenue growth PBC Germany and equivalents, FY 2007 vs. FY 2006 Revenues Total Revenues (1) Revenues(1) 14% 14% 7% weighted peer ∅ (0)% 5% Net interest revenues 4% 13% weighted peer ∅ (1)% 2% (0)% Non-interest revenues(2) 15% Co-operative Banks (1)% weighted peer ∅ 1% Savings Banks (

  14. Slide 14: German network: Successful in our home market …

    German network: Successful in our home market … Indexed (2004 = 100) CAGR 3% Clients (1) Characteristics: 108 100 101 99 „ Profitable growth in our home market „ Strong client and volume gains 2004 2005 2006 2007 1Q2008 „ Berliner Bank already with sizable profit Indexed (2004 = 100) contribution CA

  15. Slide 15: … complemented by continued growth of our European network

    … complemented by continued growth of our European network Indexed (2004 = 100) Revenue composition as of 1Q2008 CAGR 5% Clients 117 107 Portugal 100 97 Belgium 2004 2005 2006 2007 1Q2008 Poland Indexed (2004 = 100) Italy CAGR 12% CBV* 139 112 123 100 Spain 2004 2005 2006 2007 1Q2008 „ Strong revenu

  16. Slide 16: Consumer Banking: Building a regionally diversified portfolio

    Consumer Banking: Building a regionally diversified portfolio Revenue Revenuecomposition as ofas composition FY2007 of 1Q2008 Status update norisbank: Poland: „ Prospective 'quality' discounter Spain: db kredyt DB Credit „ Efficient platform for deposit gathering Prestitempo / Cards: Germany: „ One

  17. Slide 17: Strong growth in non-commoditized product groups

    Strong growth in non-commoditized product groups Revenue composition Revenue growth by product group FY 2007 FY 2007 vs. FY 2006 Global Product Management Deposits & Investment Payments Investment & & Insurance +8% Insurance Products Business Products +9% Consumer Finance +3% Mortgages Mortgages +6%

  18. Slide 18: Results include massive investments in future growth

    Results include massive investments in future growth Non-interest expenses, in EUR bn CAGR 9% CAGR 2% 4.1 3.7 3.6 3.6 3.5 3.4 73.9% 72.2% 73.3% 71.4% 70.8% 69.1% 2005 2006 2007 PBC total CIR PBC total PBC without initiatives* CIR PBC without initiatives* * Norisbank, Berliner Bank, Poland, Asia Note

  19. Slide 19: Agenda

    Agenda 1 Deutsche Bank Group 2 Private & Business Clients 3 Outlook Investor Relations 06/08 · 19 8cld0248_Screenshow.ppt

  20. Slide 20: PBC will deliver on clear targets

    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 in high Markets growth r

  21. Slide 21: Appendix

    Appendix Investor Relations 06/08 · 21 8cld0248_Screenshow.ppt

  22. Slide 22: PBC's retail franchise in developed markets

    PBC’s retail franchise in developed markets 2007 Germany Italy Spain Poland Portugal Belgium Invested assets 152.7 24.4 11.5 1.8 0.7 11.8 In EUR bn Loan book 60.2 12.9 12.6 1.8 0.9 0.0 In EUR bn Clients 9.7 2.5 0.7 0.2 0.02 0.2 In million Branches* 932 250 267 129 36 30 Financial agents ~1.500 952 1

  23. Slide 23: Italy and Spain: Strong position for further growth

    Italy and Spain: Strong position for further growth Options External growth: „ High valuations defer adequate pay-back time Organic growth: „ PBC Spain with 260 branches and PBC Italy with 250 „ Focus on selective investments, branches Italy branch expansion „ Strong revenue momentum in advisory seg

  24. Slide 24: Portugal: Expansion program fully on track

    Portugal: Expansion program fully on track Viana Indexed (2004 = 100) do Castelo Braga Braganca 39% 139 Clients Porto Vila Real Visou 111 Avoiro Guarda 100 97 Castello Branco Coimbra 2004 2005 2006 2007 1Q2008 Existing branches Leiria Branch openings planned for 2008 Santarém Portalegre Lisboa Index

  25. Slide 25: Belgium: Small but dynamic business

    Belgium: Small but dynamic business db m@x „ Launched in 2Q2007 Savings market: Volume growth 2007 vs. 2006, DB „ Offers attractive products: and peers – Zero cost transactional banking – Current account with one of 25% the highest interest rates in 21% the market 14% – Savings accounts 13% 11% – On

  26. Slide 26: Poland: Improved efficiency despite continued investments

    Poland: Improved efficiency despite continued investments Indexed (2004 = 100) CAGR 8% Clients 120% 100 113 125 110% 100 99 CIR 62 63 52 2004 2005 2006 2007 1Q2008 32 73% 91% # of <70% Indexed (2004 = 100) branches CAGR 70% Target 488 CBV* 2004 2005 2006 2007 2009 275 100 163 „ After successful rest

  27. Slide 27: Asia: In India we successfully started our branch business

    Asia: In India we successfully started our branch business and credit card activities Indexed (1H2006 = 100) 18x Clients 1,825 1,161 Delhi 596 100 1H2006 2H2006 1H2007 2H2007 1Q2008 Kolkata Indexed (1H2006 = 100) Mumbai Pune 6x CBV* 620 389 Bangalore Chennai 224 Existing branches Vellore 100 Salem B

  28. Slide 28: 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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