Deutsche Bank Ag · XETR:DBK
Deutsche Bank — Deutsche Bank German, Swiss & Austrian Conference 2013
27 slides from Deutsche Bank's conference presentation, May 14, 2013
Slide 1: A global universal bank with strong roots in Germany
Deutsche Bank Deutsche Bank AG A global universal bank with strong roots in Germany Jürgen Fitschen, Co-Chairman of the Management Board and the Group Executive Committee Deutsche Bank German, Swiss & Austrian Conference Frankfurt, 14 May 2013
Slide 2: Agenda
Agenda 1 Current operating environment 2 Update p on Deutsche Bank Group p 3 Client centricity: Our position and strategy in Germany Deutsche Bank Jürgen Fitschen financial transparency. 1 Deutsche Bank German, Swiss & Austrian Conference, Frankfurt, 14 May 2013
Slide 3: The macro environment has improved significantly
The macro environment has improved significantly … As of 6 May 2013 Curtailment of tail risk Rising equity markets and lower volatility 10yr government bond yields, in % Italy Spain Indexed to 100 on 30 Dec 2011, Euro Stoxx 50 MSCI EM Draghi‘s in % S&P 500 DAX 8 speech +38% 135 7 +29% 125 6 +19% 115
Slide 4: But a divergent three-speed world is emerging
... but a divergent three-speed world is emerging Estimates for real GDP growth, in % 2013 2013-2017 (cumulative) — Sustainable recovery and growth requires structural reform e.g. pensions, labour market flexibility, (0.6) Eurozone services 4.7 — Without this, Europe risks becoming uncompetitive vs
Slide 5: European banking peers performing well vs. US peers
Although European banking peers are performing well vs. US peers peers... Revenue growth 1Q2013 vs. 1Q2012 Post-tax RoE 1Q2013 Reported view(1), based in EUR, in % Reported view, in % 8.2 8.6 US Europe (4.2) (3.7) US Europe IBIT growth 1Q2013 vs. 1Q2012 B3 CT1 ratio (fully loaded) 31 March 2013 Repo
Slide 6: The regulatory environment remains uncertain and uncoordinated
... the regulatory environment remains uncertain and uncoordinated ... Basel 3: Significant differences in EU and US implementation proposals ILLUSTRATIVE Counter- Higher minimum New liquidity New leverage Status of rules cyclical capital capital level ratios ratio buffer EU ― Rules de-facto ― G-SIF
Slide 7: Additional regulation would reduce European banks' competitiveness
... and additional regulation mainly affecting European banks would reduce their competitiveness Issue Implication Bank ― Undermines universal ― Separation of deposit- banking model and structural taking from other activities stability; increased costs reform for clients Regional R i l ― Pressure in
Slide 8: Agenda
Agenda 1 Current operating environment 2 Update p on Deutsche Bank Group p 3 Client centricity: Our position and strategy in Germany Deutsche Bank Jürgen Fitschen financial transparency. 7 Deutsche Bank German, Swiss & Austrian Conference, Frankfurt, 14 May 2013
Slide 9: Deutsche Bank results at a glance
Deutsche Bank results at a glance In EUR bn, bn unless otherwise stated FY 1Q 2011(4) 2012 2012 2013 Revenues 33.2 33.7 9.2 9.4 Adjusted cost base(1) n.a. 24.7 6.4 6.0 Performance Common Equity Tier 1 ratio, Basel 3 fully loaded(2) < 6.0% 7.8% n.a. 8.8% highlights Post-tax return on average active e
Slide 10: Strategy 2015+: Progress against our published goals
Strategy 2015+: Progress against our published goals W aspire We i tot be b the th leading l di client-centric li t t i global l b l universal i l bank b k Capital Costs Competencies Culture Clients Deutsche Bank Jürgen Fitschen financial transparency. 9 Deutsche Bank German, Swiss & Austrian Confer
Slide 11: Capital: We beat our targets for organic capital generation
Capital: We beat our targets for organic capital generation … … with largest contribution from asset Over-delivery on near-term targets ... sale/hedging P f Pro-forma B3 CT1 ratio ti (f (fully ll lloaded), d d) iin % %, period i d end d Pro-forma Pro forma Basel 3 RWA equivalent(3) relief, relief 2H
Slide 12: Creating the platform for additional capital measures
… creating the platform for the additional capital measures announced Basel 3 CET1 ratio vs. peers: We have now closed the gap Pro forma B3 CT1 ratio (fully loaded) Pro-forma loaded), in % %, period end In % %, as of 31 March 2013 Peer(1) average Peer(1) range incl. DB 10.0 10.1 10.0 9.8 ~9.6(2) ~9.
Slide 13: Costs: Progress on Operational Excellence Program
Costs: Progress on Operational Excellence Program Targeted CtA and savings Program to date progress In EUR bn In EUR bn CtA p per yyear Cumulative run-rate savings g 2H2012 1Q2013 4.5 4.5 4.0 2014 target 2014 target 2.9 2013 target 1 7 1.6 1.7 1.5 2013 target 0.6 0.7 1,1 0.4 0.2 0.6 0.2 0.2 05 0.5 0
Slide 14: Competencies: Our franchise is performing well
Competencies: Our franchise is performing well ... CB&S: Best performing European bank GTB: Good 1Q2013 performance 1Q2013 S&T revenues(1), 1Q13 vs. 1Q12, in % Revenues IBIT in EUR bn I EUR m In I EUR m In (5)% (4)% (13)% (9)% (3)% (14)% (2)% (28)% 967 992 4.6 4.1 (2) 3.5 3.5 3.4 3.4 320 2.7 2.1 309
Slide 15: Across all our core businesses
... across all our core businesses AWM: Positive NNM and increased assets PBC: Best quarter since consolidation NNM(1), in EUR bn Invested assets assets, in EUR bn Adjusted j IBIT(2), In EUR m 923 973 700 649 650 6 600 550 500 (3) 450 (5) (6) 400 (8) 350 1Q 2Q 3Q 4Q 1Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 201
Slide 16: Culture: Deutsche Bank 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 17: Agenda
Agenda 1 Current operating environment 2 Update p on Deutsche Bank Group p 3 Client centricity: Our position and strategy in Germany Deutsche Bank Jürgen Fitschen financial transparency. 16 Deutsche Bank German, Swiss & Austrian Conference, Frankfurt, 14 May 2013
Slide 18: Undisputed market leadership in Germany
Undisputed market leadership in Germany… CB&S: #1 in Corporate Finance PBC: #1 private bank in Retail Banking(1) Market share based on fees, FY2012, in % IBIT, Retail segment Germany, FY2012, in EUR bn DB 13% S k Sparkassen 44 4.4 JPMorgan 8% Volksbanken 4.3 Goldman Sachs 5% DB 1.7 Credit Suisse 5%
Slide 19: Growth opportunities in Corporate and Commercial Banking
… with growth opportunities in Corporate and Commercial Banking in our home market Corporate & Commercial Banking Germany Client needs Market segments Wallet size INDICATIVE T rno er in EUR m Turnover in EUR bn Access to global network Cutting edge capital markets expertise ~13 Complex risk manageme
Slide 20: Realigned Corporate and Commercial Banking proposition
Realigned Corporate and Commercial Banking proposition strengthening our universal banking approach Target picture Key facts Client Mid Small Large Corps(1) Corps(2) Corps Private Clients(3) Increased client segment proximity Strengthened client coverage Private & Per- Coverage Corporate Banking Com
Slide 21: Enhanced regional presence in the home market
Enhanced regional presence in the home market New regional structure Germany Key considerations ILLUSTRATIVE ― Mid-sized Mid sized corporate clients gain access 5 regional hubs to ~180 additional locations North Key locations ― 5 Regional Heads managing across Hamburg g E t East Existing E i ti advi
Slide 22: Profit growth ambitions in Germany
All numbers reflected in Profit growth ambitions in Germany Strategy 2015+ targets as presented in September 2012 Selected strategic Synergies 2015 initiatives Focus areas vs. 2012(1) ― Integration of commercial banking coverage Realignment of in PBC Corporate & EUR >0.2 bn ― Sharpening proposition
Slide 23: Key takeaways of presentation
Key takeaways of presentation The regulatory environment has become even more complex complex, particularly for European-based global universal banks After beating our targets for organic capital generation, generation we have taken a decisive step to move the capital topic ‘off the table’ We have d
Slide 24: Appendix
Deutsche Bank Appendix 23
Slide 25: Reconciliation of reported expenses and adjusted cost base
Reconciliation of reported expenses and adjusted cost base In EUR bn 10 6 10.6 Compensation and benefits 3.2 General and 7.0 6.6 7.0 6.6 administrative expenses Other noninterest 3.6 3.6 3.4 3.3 3.3 expenses(1) 3.4 5.3 5.3 3.5 3.6 3.2 3.3 3.2 2.8 2.9 3.3 21 2.1 1H2012 0.2 (0.0) (0.0) 0.4 0.3 0.2 ann
Slide 26: Reconciliation of IBIT Private & Business Clients (PBC)
Reconciliation of IBIT Private & Business Clients (PBC) In EUR m, m post post-minorities minorities FY2011 1Q2012 2Q2012 3Q2012 4Q2012 FY2012 1Q2013 Reported IBIT 574 233 137 93 5 468 117 Cost-to-achieve (180) (28) (42) (49) (149) (268) (51) thereof cost-to-achieve related to OpEx (47) Advisory ther
Slide 27: 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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