Deutsche Bank Ag · XETR:DBK
Deutsche Bank — Investor Presentation (December 2012)
30 slides from Deutsche Bank's investor presentation, Dec 13, 2012
Slide 1: Re-segmentation and Non-Core Operations Unit (NCOU) Analyst Call
Deutsche Bank Re segmentation and Re-segmentation Non-Core Operations Unit ( (NCOU)) Analyst y call Frankfurt, 13 December 2012
Slide 2: Key messages
Key messages — New segmental structure reflects progress on key elements of Strategy 2015+ — NCOU established t bli h d iin 4Q2012 — Single, integrated AWM division — Refinement in allocation of coverage expenses between CB&S and GTB — NCOU ffully ll operational ti l — Governance structure and relat
Slide 3: Agenda
Agenda 1 Deutsche Bank re-segmentation re segmentation 2 Establishment of NCOU 3 NCOU risk profile Deutsche Bank NCOU Analyst Call financial transparency. 3 Investor Relations 13 December 2012
Slide 4: New Deutsche Bank – Overview of changes in segment composition
New Deutsche Bank – Overview of changes in segment composition CB&S GTB AWM PBC C&A CI 1 Operating Businesses Non-Core CB&S GTB AWM PBC C&A Operations Unit 2 3 1 Reassignment of management responsibilities for non-core operations 2 Changes to the allocation of coverage costs to reflect new organizat
Slide 5: Detailed re-segmentation effects: Corporate Banking & Securities
Detailed re-segmentation effects Corporate Banking & Securities FY2011 9M2012 Old Structure Establishment New Old Structure Establishment New (in EUR m, unless stated otherwise) (as reported) of NCOU Other structure(1) (as reported) of NCOU Other structure(1) Total net revenues 14,885 (53) (723) 14,
Slide 6: Detailed re-segmentation effects: Global Transaction Banking
Detailed re-segmentation effects Global Transaction Banking FY2011 9M2012 Old Structure Establishment New Old Structure Establishment New (in EUR m, unless stated otherwise) (as reported) of NCOU Other structure(1) (as reported) of NCOU Other structure(1) Total net revenues 3,608 - - 3,608 2,940 - -
Slide 7: Detailed re-segmentation effects: Asset & Wealth Management
Detailed re-segmentation effects Asset & Wealth Management FY2011 9M2012 Old Structure Establishment New Old Structure Establishment New (in EUR m, unless stated otherwise) (as reported) of NCOU Other structure(1) (as reported) of NCOU Other structure(1) Total net revenues 3,762 (208) 723 4,277 2,74
Slide 8: Detailed re-segmentation effects: Private & Business Clients
Detailed re-segmentation effects Private & Business Clients FY2011 9M2012 Old Structure Establishment New Old Structure Establishment New (in EUR m, unless stated otherwise) (as reported) of NCOU Other structure(1) (as reported) of NCOU Other structure(1) Total net revenues 10,617 (224) - 10,393 7,4
Slide 9: Detailed re-segmentation effects: NCOU
Detailed re-segmentation effects NCOU FY2011 9M2012 CI From CB&S, CI From CB&S, (in EUR m, unless stated otherwise) (as reported) AWM and PBC NCOU(1) (as reported) AWM and PBC NCOU(1) Total net revenues 394 485 879 507 554 1,061 Provision for credit losses (14) (371) (385) (4) (525) (529) Total noni
Slide 10: Agenda
Agenda 1 Deutsche Bank re-segmentation re segmentation 2 Establishment of NCOU 3 NCOU risk profile Deutsche Bank NCOU Analyst Call financial transparency. 10 Investor Relations 13 December 2012
Slide 11: Non-Core Operations Unit – Rationale and governance
Non-Core Operations Unit – Rationale and governance — Improve external transparency on non-core positions Rationale — Increase management focus on underlying operating businesses — Accelerate de-risking — New business segment of Deutsche Bank Group — One-time, irreversible assignment of assets to th
Slide 12: Organizational setup
Organizational setup Governance structure Overview Management — Global Head of NCOU directly Board accountable to Management Member Board — NCOU ExCo responsible for Head of coordinating resources / Group NCOU NCOU Global Head NCOU NCOU functions COO CRO off NCOU CFO Legal — Chaired by Global Head o
Slide 13: Selection criteria for non-core positions
Selection criteria for non-core positions 1 Non-core operations for Deutsche Bank going forward (i.e. no client business relevance) 2 Assets materially affected by business environment or regulatory changes Earmarked for de de-risking risking 3 ― Assets in run-off mode ― Exit already identified as p
Slide 14: NCOU portfolio overview
NCOU portfolio overview Key positions (non-exhaustive) Key financials (as of 30 June 2012) AWM non-core In EUR bn AWM CI PBC CB&S WM — Sal. Oppenheim pp ((SOP)) assets in run-off 141 AW — SOP workout credit portfolios 137 13 3% — Exit of participations 2 2% 4 13 9% 22 16% CI — Entire CI portfolio, e
Slide 15: NCOU portfolio evolution since June 2012 and outlook
NCOU portfolio evolution since June 2012 and outlook Pro-forma Basel 3 RWA equivalent(1) In EUR bn Sending business divisions: AWM CI PBC CB&S 141 4 13 125 4 19 13 18 ~90 ~5 ~2 ~13 106 90 ~70 30 June 2012 30 September 2012 31 March 2013 (target) Note: Numbers may not add up due to rounding (1) RWA p
Slide 16: Agenda
Agenda 1 Deutsche Bank re-segmentation re segmentation 2 Establishment of NCOU 3 NCOU risk profile Deutsche Bank NCOU Analyst Call financial transparency. 16 Investor Relations 13 December 2012
Slide 17: Overview of the NCOU portfolio
Overview of the NCOU portfolio Pro-forma P f Basel B l 3 RWA equivalent i l t(2) Total adjusted assets(1) (Total: EUR 122 bn) (Total: EUR 125 bn) In EUR bn, as of 30 Sep 2012 In EUR bn, as of 30 Sep 2012 AWM IAS 39 re- re AWM IAS 39 re- CI 7 1.8 1 classified CI 7 2.6 1 classified assets 19.8 18.8 as
Slide 18: IAS 39 reclassified assets
1 IAS 39 reclassified assets(1) Portfolio significantly reduced reduced, higher risk assets manageable Assets by risk category (CV & valuation gap) Higher risk portfolio by asset type Carrying value, in EUR bn 30 Sep 2012 CV/FV gap Carrying 1.9 value, (vs peak of EUR 6 (vs. 6.7 7 bn in Mar 2009 (51)
Slide 19: Other loans (non IAS 39 reclassified)
2 Other loans (non IAS 39 reclassified) Portfolio well diversified, diversified higher risk assets manageable Assets by risk category Portfolio by assets Net loans, in EUR bn, as of 30 Sep 2012 7% 4% 10.1 64% 15% 21% 8% 53% 6.5 27% 1.5 2.1 CRE Collateralized structured loans p 2012(1) 30 Sep Lower r
Slide 20: Monolines
3 Monolines Portfolio significantly reduced reduced, exposure dynamically reserved Portfolio development Exposure reserves Exposure, in EUR bn(1) CVA Fair value after CVA In EUR bn, as of 30 Sep 2012 CVA (58%) Fair value after CVA 8.3 22% CVA 33% CVA 2.2 2.5 TruPs CLO 05 0.5 Oth (2) Other 1% 17% 4.1
Slide 21: Credit trading – Correlation book
4 Credit trading – Correlation book Significantly reduced since 2009 Portfolio development Risk development Outstanding notional, in EUR bn Development of key risk metrics, in EUR m (70)% 100 1,000 200 90 80 800 (45)% 60 50 600 (25)% 60 40 400 30% 20 - 200 31 Dec 2009 Unwound Matured 30 Sep 2012 Dec
Slide 22: Other trading positions
5 Other trading positions Higher Hi h risk i k portfolio tf li bby Assets by risk category asset type Fair value, in EUR bn, as of 30 Sep 2012 58% 28% 14% Other 15.8 22% 92 9.2 57% 21% Bonds Traded 4.4 2.2 loans Total Low Risk Medium Risk Higher Risk IG rating(1) iBB range(1) iB & below(1) — Overall
Slide 23: PBC non-core portfolio
6 PBC non-core portfolio De-risking De risking via targeted capital intensive assets sale & near term roll-offs roll offs Non-core asset breakdown (EUR 39 bn) Non-core RWA equivalent breakdown (EUR 18 bn) As of 30 Sep 2012 As of 30 Sep 2012, under pro-forma Basel 3 Structured Credit Structured Credi
Slide 24: Deep-dive on selected Postbank non-core portfolios
6 Deep-dive on selected Postbank non-core portfolios De-risking De risking improves credit quality quality, further downside protection from PPA Structured Credit Portfolio(1) Comments In EUR bn — Structured Credit Portfolio: Carrying value Non-IG 3.9 (67)% Delta-to-notional BBB range Material de de
Slide 25: Corporate Investments
7 Corporate Investments Largest operating assets in CI portfolio Focus on de-risking — CI characterized by large operating assets: as of 30 September 2012, over three th quarters t off RWA(2) — Opened in concentrated in Cosmopolitan, Maher, 2010 BHF and Actavis — One of the leading luxury — Largest
Slide 26: Liability transfer and funding
Liability transfer and funding Overview Rationale for transfer & observations Composition of transferred liabilities — Liabilities of business in run-off or for sale Total: EUR 77 bn, as of 30 September 2012 — Legacy Postbank/BHW bond formats not to be issued in future (unsecured, covered issuance b
Slide 27: Additional information
Deutsche Bank Additional information
Slide 28: Further information on allegations about the Bank's bespoke trading book
Further information on allegations about the Bank’s p bespoke trading g book — Some media reported allegations of a former employee concerning the valuation of the Bank’s bespoke trading book during the credit crisis — Focused primarily on valuation of leveraged super senior trades and the possibili
Slide 29: Refinement of the size of the Non Core Operations Unit since September 2012 Investor Day
Refinement of the size of the Non Core Operations Unit since September 2012 Investor Day AWM CI PBC CB&S Assets Pro-forma Basel 3 RWA equivalent(1) In EUR bn In EUR bn AWM ~1 – Population changes ~0 137 ~135 AWM ~1 141 ~125 – Refined financials ~1 2 – Population changes ~0 4 ~3 ~1 22 ~13 – Refined f
Slide 30: 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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