6 Corporate and Investment Bank FY 1Q 2Q 3Q 4Q FY 1Q 2Q 3Q 4Q FY 4Q2009 vs. 4Q2009 vs. FY2009 vs. (In EUR m., unless stated otherwise) 2007 2008 2008 2008 2008 2008 2009 2009 2009 2009 2009 4Q2008 3Q2009 FY2008 Origination (Equity) 860 84 138 85 27 334 90 208 216 149 663 N/M (31 )% 98% Origination (Debt) 714 (1,383 ) 127 (369 ) 911 (713 ) 130 446 326 230 1,132 (75 )% (29 )% N/M Origination 1,573 (1,299 ) 266 (283 ) 938 (379 ) 220 654 542 379 1,795 (60 )% (30 )% N/M Sales & Trading (Equity) 4,612 745 830 (142 ) (2,064 ) (631 ) 275 903 918 637 2,734 N/M (31 )% N/M Sales & Trading (Debt and other products) 8,401 1,317 600 922 (2,723 ) 116 3,752 2,569 2,199 1,275 9,795 N/M (42 )% N/M Sales & Trading 13,013 2,062 1,430 780 (4,787 ) (514 ) 4,027 3,472 3,118 1,912 12,529 N/M (39 )% N/M Advisory 1,089 128 125 185 152 589 129 72 95 105 402 (31 )% 10% (32 )% Loan products 1,067 269 346 534 244 1,393 648 320 308 347 1,623 42% 13% 17% Transaction services 2,585 661 671 692 751 2,774 666 653 658 629 2,606 (16 )% (4 )% (6 )% Other products (151 ) (253 ) 47 (167 ) (288 ) (661 ) (768 ) 125 375 118 (151 ) N/M (68 )% (77 )% Total net revenues1 19,176 1,567 2,884 1,741 (2,991 ) 3,201 4,921 5,296 5,096 3,490 18,804 N/M (32 )% N/M Provision for credit losses 109 (11 ) (9 ) 66 361 408 357 779 323 357 1,816 (1 )% 10% N/M Compensation and benefits 6,906 1,413 1,262 559 601 3,834 1,483 1,450 1,297 830 5,059 38% (36 )% 32% therein: Severance payments 107 91 64 42 139 337 50 59 15 21 145 (85 )% 36% (57 )% General and administrative expenses1 6,869 1,667 1,546 1,684 1,750 6,647 1,600 1,942 1,915 1,616 7,073 (8 )% (16 )% 6% Policyholder benefits and claims 116 (141 ) 113 (41 ) (204 ) (273 ) (64 ) 126 364 114 541 N/M (69 )% N/M Restructuring activities (4 ) — — — — — — — — — — N/M N/M N/M Impairment of intangible assets — — 5 — — 5 — 5 — — 5 N/M N/M 8% Total noninterest expenses 13,886 2,940 2,925 2,202 2,146 10,213 3,019 3,522 3,576 2,560 12,678 19% (28 )% 24% Minority interest 34 (8 ) (4 ) (20 ) (17 ) (48 ) 1 (14 ) 15 (4 ) (2 ) (76 )% N/M (96 )% Income (loss) before income taxes 5,147 (1,354 ) (27 ) (507 ) (5,482 ) (7,371 ) 1,544 1,009 1,182 577 4,312 N/M (51 )% N/M Additional information Employees (full-time equivalent, at period end) 16,293 15,423 15,388 15,322 14,817 14,817 14,273 14,023 14,208 14,177 14,177 (4 )% (0 )% (4 )% Cost/income ratio 72% 188% 101 % 126% N/M N/M 61% 67% 70% 73% 67% N/M 3 ppt N/M Assets (at period end, in EUR bn.) 1,800 2,022 1,852 1,917 2,047 2,047 1,942 1,577 1,509 1,344 1,344 (34 )% (11 )% (34 )% Risk-weighted assets (at period end, in EUR bn.)2 237 246 245 257 250 250 249 225 217 204 204 (18 )% (6 )% (18 )% Average active equity 20,714 21,446 20,076 19,786 20,219 20,262 21,491 20,407 17,927 16,895 19,041 (16 )% (6 )% (6 )% Pre-tax return on average active equity 25% (25 )% (1 )% (10 )% (108 )% (36 )% 29% 20% 26% 14% 23% 122 ppt (12 )ppt 59 ppt 1 Prior periods have been adjusted retrospectively to be consistent with current presentation of certain confirmation and settlement fees. These adjustments had no impact on income (loss) before income taxes but resulted in an equal and offsetting decrease of net revenues and of noninterest expenses. 2 Regulatory risk positions; starting 2008, amounts are based on Basel II. For details please refer to footnote 1 on page 15. |