Deutsche Bank Ag · XETR:DBK
Deutsche Bank — Deutsche Bank Aktiengesellschaft — Investor Day (February 2010)
21 slides from Deutsche Bank's investor day presentation, Feb 5, 2010
Slide 1: Analyst Meeting, 4 February 2010
Deutsche Bank Dr. Josef Ackermann Chairman of the Management Board and the Group Executive Committee Analyst Meeting, 4 February 2010
Slide 2: 2009: Financial strength; Phase 4 Agenda; Changing environment
1 2009: Financial strength 2 Well-placed to deliver on Phase 4 Agenda 3 Meeting the demands of a changing environment
Slide 3: 2009: Strength in every dimension
2009: Strength in every dimension (1) Based on average active equity (2) Recommended (3) Total assets based on U.S. GAAP pro-forma divided by total equity per target definition Profitability Income before income taxes (FY, in EUR bn) Net income (FY, in EUR bn) Pre-tax RoE (FY, target definition)(1)
Slide 4: 2009 in context
2009 in context In EUR bn (CHART) Net revenues Net income (CHART) '03 '04 '05 '06 '07 '08 '09 Mark-downs Net revenues '03 '04 '05 '06 '07 '08 '09 (1) Includes significant property impairment of EUR 0.5 bn for 1Q2009 and of EUR 0.1 bn for 4Q2009; 2003-2005 based on U.S. GAAP, 2006 onwards based on IF
Slide 5: Significant leverage reduction
Significant leverage reduction Assets Leverage ratio(1) (CHART) 1Q 2Q 3Q 4Q 2008 (CHART) U.S. GAAP pro-forma, in EUR bn 1Q 2Q 3Q 4Q 2009 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q (541) (14)x 2008 2009 (1) Total assets based on U.S. GAAP pro-forma divided by total equity per target definition Note: Figures may not add
Slide 6: Strongest capital ratios ever
Strongest capital ratios ever RWA, in EUR bn Tier 1 ratio, in % Core Tier 1 ratio, in % (CHART) 1Q 2Q 3Q 4Q (CHART) 1Q 2Q 3Q 4Q 12.6 (CHART) (43) Tier 1 capital, in EUR bn 32.8 28.3 32.3 31.1 27.9 32.5 33.7 8.7 Target: ^10% 2008 2009 Note: Core Tier 1 ratio = Tier 1 capital less hybrid Tier 1 capita
Slide 7: Well-placed to deliver on Phase 4 Agenda
1 2009: Financial strength 2 Well-placed to deliver on Phase 4 Agenda 3 Meeting the demands of a changing environment
Slide 8: Well placed to deliver on Phase 4
Well placed to deliver on Phase 4 Focus on core PCAM businesses and home market leadership Increase CIB profitability with renewed risk and balance sheet discipline Focus on Asia as a key driver of revenue growth Reinvigorate our performance culture Management Agenda Phase 4 2009 - 2011
Slide 9: CB&S: Success of a recalibrated platform
CB&S: Success of a recalibrated platform Income before income taxes Key metrics 2003 2004 2005 2006 2007 2008 2009 (CHART) In EUR bn (1) 2009 Leverage and risk reduction: Assets(2) (U.S. GAAP pro-forma, in EUR bn) RWA (in EUR bn) Value-at-Risk(4) CIB VaR CIB constant input VaR S&T revenues to assets
Slide 10: GTB: Gaining share in a high-quality business
GTB: Gaining share in a high-quality business (CHART) 2003 2004 2005 2006 2007 2008 2009 16 Pre-tax Return on Equity, in % xx 18 33 66 86 102 67 Income before income taxes Market share gains: Trade Finance(1) (in %) EUR Clearing(2) (in %) Assets under custody(3) (in EUR bn) 23.9 26.1 19.2 21.2 907 1
Slide 11: AWM: Return to profitability and net new money growth
AWM: Return to profitability and net new money growth Net new money growth (in EUR bn): Asset Management Private Wealth Management Total AWM (22) 9 10 7 (CHART) 2008 2009 Specific items(1) (62) (11) (294) (917) (183) (160) (25) 232 Cost and headcount reduction (AM): Comp and benefits(2) (in EUR m) N
Slide 12: PBC: Responding to a challenging environment
PBC: Responding to a challenging environment Income before income taxes Key features (1) Includes direct severance booked in business and allocations of severance booked in infrastructure (2) FY2009 provision for credit losses positively impacted by changes in parameter and model assumptions, contri
Slide 13: Renewed emphasis on cost discipline and efficiency
Renewed emphasis on cost discipline and efficiency Continued focus on employee productivity in front-office Substantial efficiency aspiration in infrastructure - EUR 1 bn efficiency gains by 2011 DB Group headcount Efficiency aspiration FTE, at period end 79 82 80 75 70 70 (CHART) 134 72 Cost/income
Slide 14: Meeting the demands of a changing environment
1 2009: Financial strength 2 Well-placed to deliver on Phase 4 Agenda 3 Meeting the demands of a changing environment
Slide 15: The changing environment: Compensation
The changing environment: Compensation Variable compensation aligned to longer-term financial performance Increased equity component: Alignment with shareholder value 'Claw back' linked to future financial performance for all Managing Directors Shift in pay-mix fixed vs. variable Enhanced independen
Slide 16: The changing environment: Capital
The changing environment: Capital Stressed Value-at-Risk Incremental risk charge Trading book securitization Correlation trading Capital demand / supply, 3Q2007 - 4Q2009 Key components (CHART) Buffer to 10% BIS Tier 1 ratio (CHART) Rating migra- tion FY2008 net loss Increase of Tier 1 target to 10%
Slide 17: The changing environment: Additional issues
The changing environment: Additional issues Consultation phase Proposal / discussion phase Basel Committee consultative document Capital / capital eligibility Leverage Liquidity Counterparty credit risk Countercyclical capital buffers Timeline for implementation National capital requirements Structu
Slide 18: In summary: A year of strength in every dimension
In summary: A year of strength in every dimension (1) Based on average active equity (2) Recommended (3) Total assets based on U.S. GAAP pro-forma divided by total equity per target definition Profitability Income before income taxes (FY, in EUR bn) Net income (FY, in EUR bn) Pre-tax RoE (FY, target
Slide 19: Additional information
Deutsche Bank Additional information Passion to Perform
Slide 20: Balance sheet leverage ratio (target definition)
30 Jun 30 Sep 31 Dec 31 Mar (1) Estimate assuming that all own debt was designated at fair value Balance sheet leverage ratio (target definition) In EUR bn 2008 30 Jun 30 Sep 31 Dec 31 Mar 2009
Slide 21: 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
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