Deutsche Bank Investor Relations Annual General Meeting 2012 Dr. Josef Ackermann financial transparency. Deutsche Bank Annual General Meeting Dr. Josef Ackermann Chairman of the Management Board and the Group Executive Committee Frankfurt, 31 May 2012
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Deutsche Bank
Investor Relations Annual General Meeting 2012
Dr. Josef Ackermann
financial transparency.
Deutsche Bank
Annual General Meeting Dr. Josef Ackermann Chairman of the Management Board
and the Group Executive Committee
Frankfurt, 31 May 2012
Deutsche Bank
Investor Relations Annual General Meeting 2012
Dr. Josef Ackermann
financial transparency. 2
1Q2011 2Q2011 3Q2011 4Q2011
(1) Unweighted index of JPM, BoA, C, CS, UBS, GS, MS, BNP, SOC and BAR
Source: Bloomberg
1Q2012
Share price development since 2011 Deutsche Bank vs. peers
Deutsche Bank Peer Group(1)
Indexed share price development
(5)%
(22)%
40
60
80
100
120
Deutsche Bank
Investor Relations Annual General Meeting 2012
Dr. Josef Ackermann
financial transparency.
30.8
13.6
28.0 28.6
33.2
2007 2008 2009 2010 2011
Result 2011 In EUR bn
Income before income taxes
8.7
(5.7)
5.2 4.0
5.4
2007 2008 2009 2010 2011
Net revenues
3
Deutsche Bank
Investor Relations Annual General Meeting 2012
Dr. Josef Ackermann
financial transparency.
Corporate & Investment Bank In EUR bn
Income before income taxes
5.1
(7.4)
4.3
6.0
4.0
2007 2008 2009 2010 2011
4
Deutsche Bank
Investor Relations Annual General Meeting 2012
Dr. Josef Ackermann
financial transparency.
2.1
0.4
0.7
1.1
2.5
2007 2008 2009 2010 2011
Private Clients and Asset Management In EUR bn
Income before income taxes
5
Deutsche Bank
Investor Relations Annual General Meeting 2012
Dr. Josef Ackermann
financial transparency.
1Q results overview
1Q2012 1Q2011
Income before income taxes (in EUR bn)
Net income (in EUR bn)
Pre-tax RoE (target definition)(1)
Core Tier 1 capital ratio
Tier 1 capital ratio
Total assets (adjusted, in EUR bn)(2)
Leverage ratio (target definition)(3)
Liquidity reserves (in EUR bn)(4)
Balance
Sheet
Capital
Profitability
31 Mar 2012 31 Dec 2011
(1) Based on average active equity
(2) Adjusted for netting of derivatives and certain other
components (Total assets according to IFRS were
EUR 2,103 bn as of 31 Mar 2012 and EUR 2,164 bn
as of 31 Dec 2011)
(3) Total assets (adjusted) divided by total equity (adjusted) per target definition
(4) The bank's liquidity reserves include (a) available excess cash held primarily at central banks, (b)
unencumbered central bank eligible business inventory, as well as (c) the strategic liquidity reserve of
highly liquid government securities and other central bank eligible assets. Excludes any positions held by
Postbank.
1.9 3.0
1.4 2.1
14.0% 22.0%
10.0% 9.5%
13.4% 12.9%
1,256 1,267
21 21
>195 219
6
Deutsche Bank
Investor Relations Annual General Meeting 2012
Dr. Josef Ackermann
financial transparency. 7
An extraordinary journey Average pre-tax RoE in %
Note: DB pre-tax RoE based on average active equity (until 2005 according to U.S. GAAP, from 2006 according to IFRS); peers: GS, MS, JPM, BoA, Citi, BAR, UBS, CS,
SOC, BNP; data for 2008 and 2009 not fully comparable due to differences in timing of accounting for financial crisis-related writedowns and other one-off effects
Source: Company data, Bloomberg
Focus on core
businesses (2002 – 2003)
Boosting core
businesses (2003 – 2007)
Managing
through the crisis (2007 – 2009)
Emerging
stronger (2009 – 2011)
Peers Peers Peers Peers
11
19 26
23
9
3
12 10
Deutsche Bank
Investor Relations Annual General Meeting 2012
Dr. Josef Ackermann
financial transparency.
14 2
Outperforming peers in total return to shareholders TSR(1) in %, CAGR
(1) Based on share price development and dividend payments