Deutsche Bank Ag · XETR:DBK
Deutsche Bank — UBS 13th Global Financial Services Conference 2011
26 slides from Deutsche Bank's conference presentation, May 11, 2011
Slide 1: Deutsche Bank at UBS Global Financial Services Conference 2011
Deutsche Bank Deutsche Bank Alexander von zur Muehlen Group Treasurer Deutsche Bank UBS 13th Global Financial UBS Global Financial Services Conference 2011 Services Conference financial transparency. Investor Relations Alexander von zur Muehlen, Group Treasurer New York, 11 May 2011
Slide 2: Agenda
Agenda 1 1Q2011: On track for target 2 The new Deutsche Bank 3 Capital, liquidity and funding Deutsche Bank UBS Global Financial Services Conference 2011 financial transparency. 2 Investor Relations Alexander von zur Muehlen, Group Treasurer
Slide 3: 1Q2011 – a successful start to the year
1Q2011 – a successful start to the year 1Q2011 1Q2010 Income before income taxes (in EUR bn) 3.0 2.8 Profita- Net income (in EUR bn) 2.1 1.8 bility Pre-tax RoE (target definition)(1) 22% 30% Diluted EPS (in EUR) 2.13 2.43 31 Mar 2011 31 Dec 2010 Core Tier 1 capital ratio 9.6% 8.7% Capital Tier 1 cap
Slide 4: Strong results prove capital generation capabilities
Strong results prove capital generation capabilities … Income before income taxes Net income In EUR bn In EUR bn 2.8 3.0 1.8 2.1 (2) 1.5 1.3 1.2 1.1(2) 0.7 0.6 (1.0) (1.2) 1Q 2Q 3Q 4Q 1Q 1Q 2Q 3Q 4Q 1Q 2010 2011 2010 2011 Pre-tax return on equity(1), in % Effective tax rate, in % 30 15 (10)/13(2) 6
Slide 5: As risk and capital profile continues to improve
… as risk and capital profile continues to improve 13.4 13.4 12.3 Tier 1 ratio, in % 11.2 11.3 11.5 9.6 9.6 8.7 Core tier 1 ratio, in % 7.5 7.5 7.6 346 328 292 303 277 RWA, in EUR bn 1Q 2Q 3Q 4Q 1Q 2010 2011 Note: Tier 1 ratio = Tier 1 capital / RWA; Core tier 1 ratio = (Tier 1 capital - hybrid Tier
Slide 6: Solid performance across all major business lines in CIB
Solid performance across all major business lines in CIB Income before income taxes, in EUR m Corporate Banking & Securities Global Transaction Banking Negative goodwill(1) 4Q2010 efficiency measures(2) 2,589 2,304 478 1,101 257 214 779 270 625 119 130 94 1Q 2Q 3Q 4Q 1Q 1Q(3) 2Q 3Q 4Q 1Q 2010 2011 2
Slide 7: Record quarterly results in PCAM
Record quarterly results in PCAM Income before income taxes, in EUR m Asset and Wealth Management Private & Business Clients Net HuaXia one-off impact Net Postbank contribution(1) 788 236 190 221 91 222 65 59 30 331 189 233 245 192 (5) 1Q 2Q 3Q 4Q 1Q 1Q 2Q 3Q 4Q 1Q 2010 2011 2010 2011 (1) Includes c
Slide 8: On track to deliver on 2011 targets
On track to deliver on 2011 targets Income before income taxes, in EUR bn Phase 4 potential 1Q2010 1Q2011 2011 Key features / Prospects Corporate Banking & — Actavis with expected positive contribution 2.6 2.3 6.4 transferred to Corporate Investments Securities Global Transaction 0.1 0.3 1.0 — Poten
Slide 9: Agenda
Agenda 1 1Q2011: On track for target 2 The new Deutsche Bank 3 Capital, liquidity and funding Deutsche Bank UBS Global Financial Services Conference 2011 financial transparency. 9 Investor Relations Alexander von zur Muehlen, Group Treasurer
Slide 10: CIB: Second best full-year results ever with significantly lower resources
CIB: Second best full-year results ever with significantly lower resources Income before income taxes Significantly lower resources In EUR bn CIB resources, current vs. peak levels(1) 39% 6.1 6.0 5.1 (34)% Balance Sheet 4.3 4.3 2.8 (18)% RWA (47)% Value at risk (2) (100)% Dedicated Prop Trading (7.4
Slide 11: Our core CIB business will continue to deliver strong ROE
Our core CIB business will continue to deliver strong ROE Significant proportion of RWA in legacy business Observations CIB RWA breakdown illustrative — Growth in core business profitability from higher volumes, improved market shares and benefits from integration; expected ~25% to offset additional
Slide 12: GTB: One of the major pillars of Deutsche Bank's liquidity and performance
GTB: One of the major pillars of Deutsche Bank‘s liquidity and performance Liquidity provided to DB Group Pre-tax Return on Equity(3) GTB B/S, in EUR bn, 31 December 2010 In %, based on Average Active Equity 120 Non-interest Cash bearing deposits provided +65 to the Group 55 Interest bearing 105 dep
Slide 13: Germany: Continued healthy economy
Germany: Continued healthy economy GDP growth with ―V-shaped‖ recovery, robust outlook German exports vs. world trade qoq (lhs) yoy (rhs) German exports World trade Real, in % Indexed, Jan 2004 = 100 3 6 175 2 4 150 1 2 0 0 125 (1) (2) (2) (4) 100 (3) (6) (4) (8) 75 2007 2008 2009 2010 2011e 04 05 0
Slide 14: Profitable German retail market offers room for growth
Profitable German retail market offers room for growth Income before income taxes, FY 2010 German retail market clients German retail segment, in EUR m Dec 2010, in million Savings Savings banks 5,600 banks ~50 Mutual 4,462 Mutual ~30 banks banks (1) (2) PBC+ 1,382 PBC + 10 14 24 494 11 253 7 48 6 T
Slide 15: The roadmap to PBC's ambition level
The roadmap to PBC‘s ambition level Income before income taxes, in EUR bn >3 ~1(2) 0.1 Assumptions: 1.6 Full run-rate, i.e. full synergies realized No further cost-to-achieve PPA effects fully amortized No material impact from non- customer bank (1) Published Postbank customer P4F Envisaged synergy
Slide 16: The new Deutsche Bank
The new Deutsche Bank Well capitalised More balanced Core tier 1 ratio Income before income taxes 9.6% (1) Classic banking (PCAM / GTB) Investment bank (CB&S) > 8% Basel 2.5 Basel 3 29% >40% De-risking <60% Retained 71% ABN AMRO Netherlands earnings Mar 2011 Jan 2013 2009 2010 2013 More efficient Ho
Slide 17: Summary and Outlook
Summary and Outlook — Strong results validate our strategy laid out in Management Agenda Phase 4 – EUR 10 bn pre-tax profit target for our business divisions in sight — Regulatory and fiscal challenges will have meaningful impact on international competitiveness but will also provide opportunities —
Slide 18: Agenda
Agenda 1 1Q2010: On track for target 2 The new Deutsche Bank 3 Capital, liquidity and funding Deutsche Bank UBS Global Financial Services Conference 2011 financial transparency. 18 Investor Relations Alexander von zur Muehlen, Group Treasurer
Slide 19: Delivering results with conservative risk management
Delivering results with conservative risk management as of 31 March 2011 Capital Liquidity Funding Core Tier 1 ratio Term issuance 9.6% EUR 163 bn Liquidity reserves >EUR 135 bn Tier 1 ratio Retail deposits 13.4% EUR 283 bn Shareholder value Regulatory requirements Deutsche Bank UBS Global Financial
Slide 20: Strongest capitalization ever
Strongest capitalization ever 8.7 9.2 10.2 11.2 13.4 7.2 6.8 7.1 7.5 9.6 328 (1) 316 303 292 285 + 76 % + 52 % 44 32 25 21 1Q07 1Q08 1Q09 1Q10 1Q11 (1) Including acquisitions Tier 1 ratio, in % Core Tier 1 ratio, in % Postbank: EUR 60 bn Tier 1 capital, in EUR bn Core Tier 1 capital, in EUR bn RWA
Slide 21: Managing the crisis: Benchmark Issuance Timing
Managing the crisis: Benchmark Issuance Timing Senior benchmark issuance: Deutsche Bank vs. peers 350 DB 5yr senior CDS 350 DB 5yr EUR new issue spread European Peer 300 US Peer 300 European Peer Deutsche Bank 250 250 Bps over Euribor / Libor 19 DB data points Aug 2007 – June 2008 200 200 150 150 10
Slide 22: Funding activities update
Funding activities update Funding cost development Observations In bps European Sovereign CDS iTraxx Senior Financials — Improved market conditions during 1Q11 240 DB 5yr Senior CDS although many macro challenges remain DB issuance spread — 2011 funding plan of EUR 26 bn; 70% 200 DB issuance activit
Slide 23: Balanced cash flow profiles
Balanced cash flow profiles Capital markets maturity profile Liquidity profile as of 31 Mar 2011, in EUR bn as of 31 Dec 2010, cumulative in EUR bn 25 Assets 300 Equity 20 Liabilities 250 Surplus 15 200 10 150 5 100 0 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021+ 50 — Conscious decision, a
Slide 24: Funding and liquidity
Funding and liquidity Recalibrating our funding profile Funding sources overview Liquidity position 30 Jun 2007 (Total: EUR 1,185 bn) 31 Mar 2011 (Total: EUR 1,078 bn) — Reduction in total funding requirement due to deleveraging 31 Mar 2011, in % of total (incl. Postbank) 20 26 11 11 9 20 2 — Delibe
Slide 25: Postbank effects
Postbank effects Potential for capital and funding benefits from run-off of non-customer bank As at 31 Dec 2010, in EUR bn Operational risk 210 illustrative Non- Customer Bank Aspire to free up 67 capital and redeploy at higher RoE (1) Creates potential deposit overhang post run-off 7.8 Non- Custome
Slide 26: 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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