Slide 1: Deutsche Bank Dr. Josef Ackermann Analyst Call
Deutsche Bank Deutsche Bank Dr. Josef Ackermann Chairman of the Management Board and the Group Executive Committee Analyst Call, 2 February 2012 Deutsche Bank Dr. Josef Ackermann financial transparency. Investor Relations 2 February 2012
Slide 2: Overview
Overview FY2011 FY2010 Income before income taxes (in EUR bn) 5.4 4.0 Net income (in EUR bn) 4.3 2.3 (1) Profitability Pre-tax RoE (target definition) 10% 15% Diluted EPS (in EUR) 4.30 2.92 (2) Dividend per share (in EUR) 0.75 0.75 31 Dec 2011 31 Dec 2010 Core Tier 1 capital ratio 9.5% 8.7% (3) Capi
Slide 3: Key take-aways
Key take-aways Challenging macro environment and financial ― Record result in classic banking markets ― Diminished performance in investment banking Challenges Actions Results ― Integration risk from ― Successful execution and ― Record pre-tax profit in classic acquisitions delivery of synergies ban
Slide 4: Capital market environment put EUR 10 bn target out of reach
Capital market environment put EUR 10 bn target out of reach IBIT, in EUR bn Phase 4 potential 2011 FY2011 Global Transaction Banking 1.0 1.1 Asset and Wealth Management 1.0 0.8 Private & Business Clients 1.6 1.8 Total classic banking businesses 3.6 3.7 Corporate Banking & Securities 6.4 2.9 Total b
Slide 5: Investment banking significantly affected by environment
Investment banking significantly affected by environment Corporate Banking & Securities Income before income taxes 2011 impacted by In EUR m ― Significant slowdown in industry-wide activity as a result of the ongoing European 5,033 sovereign debt crisis 4,202 3,393 2,905 ― Significant unanticipated
Slide 6: CB&S showing relative resilience
CB&S showing relative resilience 2010: Rank 5 DB performance drivers 2011: Rank 3 CB&S revenues(1), in EUR bn CB&S revenues(1), in EUR bn ― More Top-3 positions % YoY change than any other bank(2) BoA 21.0 JPM (7)% 18.1 ― Benefits from further integration JPM 19.5 BoA (25)% 15.8 ― Partially offset b
Slide 7: Best result ever in classic banking
Best result ever in classic banking Income before income taxes, in EUR bn PBC(1) GTB AWM 78% 3.7 2011 vs. 2009 0.8 x 3.8 31% 2.1 1.1 x 1.2 1.6 (3) 0.2 0.2 (2) 1.0 0.9 1.8 x 3.9 0.9 0.5 2009 2010 2011 IBIT share 32% 29% 56% classic banking(2) (1) Includes Postbank since December 2010 (2) In percent
Slide 8: Excellence in execution
Excellence in execution Target run-rate IBIT increase, in EUR bn p.a. Efficiency initiatives Integration of strategic acquisitions 2011 run rate as share of target run rate (%) 100% 100% 24% 72% 37% Well ahead of plan 1.1 ~1.0 Original target: 1.0 (1) 0.5 ~0.2 ~0.1 CIB integration Complexity Postban
Slide 9: Lending commitment up despite de-risking
Lending commitment up despite de-risking CB&S: Resource consumption Loan book: Moderate & higher risk assets Current vs. peak levels(1) 31 Dec 2011 vs. 31 Dec 2008 Balance sheet (2) Higher risk loans (37)% (23)% excluding Postbank(6) (39)% Basel 2 RWA(3) Moderate risk loans (15)% excluding Postbank(
Slide 10: Compensation management
Compensation management Reduction of compensation ratio Variable pay down / revenues up Compensation expenses / net revenues Incentive awards (variable remuneration)(1) ∆ 1.5 ppt (17)% 2011 vs. 41.0%(2) 2010 39.5% Deferred 5%(3) Cash (37)% 2010 2011 2010 2011 (1) Excludes amortization of prior year
Slide 11: Highest year-end capital ratios ever despite Basel 2.5
Highest year-end capital ratios ever despite Basel 2.5 At period end Basel 1 Basel 2 Basel 2.5 14.7 12.9 12.6 12.3 10.1 8.6 10.8 9.5 8.7 8.7 6.9 7.0 346 381 329 308 327 273 2007 2008 2009 2010 2011 pro-forma 2011 Tier 1 ratio, in % Core Tier 1 ratio, in % RWA, in EUR bn Note: Tier 1 ratio = Tier 1 c
Slide 12: Strongest liquidity reserves ever
Strongest liquidity reserves ever Development through the crisis Composition of liquidity reserves In EUR bn, at period end As at 31 Dec 2011 Liquidity reserves(1) Discretionary Unsecured Wholesale Funding(2) 219 Highly liquid securities(3) 30% 156 150 133 104 62% 65 Other 8% central bank eligible C
Slide 13: Prepared for challenges – prepared for performance
Prepared for challenges – prepared for performance Transformed towards a more balanced, lower-risk business model Strengthened footprints in PBC, PWM and GTB Delivered execution excellence on acquisitions Focused vigorously on high-quality liquidity and funding profile Maintained high capital discip
Slide 14: 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