Document and Entity information
Document and Entity information | 12 Months Ended |
Dec. 31, 2018shares | |
Document and Entity Information [Abstract] | |
Entity Registrant Name | Deutsche Bank Aktiengesellschaft |
Entity Central Index Key | 0001159508 |
Entity Current Reporting Status | Yes |
Current Fiscal Year End Date | --12-31 |
Entity Filer Category | Large Accelerated Filer |
Entity Well Know Seasoned Issuer | No |
Document Type | 20-F |
Document Period End Date | Dec. 31, 2018 |
Document Fiscal Year Focus | 2018 |
Document Fiscal Period Focus | FY |
Amendment Flag | false |
Entity Common Stock, Shares Outstanding | 2,065,428,987 |
Entity Shell Company | false |
Entity Emerging Growth Company | false |
Consolidated Statement of Incom
Consolidated Statement of Income - EUR (€) € in Millions | 12 Months Ended | |||||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | ||||
Consolidated Statement of Income [Line Items] | ||||||
Interest and similar income | [1] | € 24,793 | € 23,542 | [2] | € 25,143 | [2] |
Interest expense | 11,601 | 11,164 | 10,436 | |||
Net interest income | 13,192 | 12,378 | 14,707 | |||
Provision for credit losses | 525 | 525 | 1,383 | |||
Net interest income after provision for credit losses | 12,667 | 11,853 | 13,324 | |||
Commissions and fee income | 10,039 | 11,002 | 11,744 | |||
Net gains (losses) on financial assets/liabilities at fair value through profit or loss | 1,332 | 2,926 | 1,401 | |||
Net gains (losses) on financial assets at amortized cost | 2 | |||||
Net gains (losses) on financial assets at fair value through other comprehensive income | 317 | |||||
Net gains (losses) on financial assets available for sale | 479 | 653 | ||||
Net income (loss) from equity method investments | 219 | 137 | 455 | |||
Other income (loss) | 215 | (475) | 1,053 | |||
Total noninterest income | 12,124 | 14,070 | 15,307 | |||
Compensation and benefits | 11,814 | 12,253 | 11,874 | |||
General and administrative expenses | 11,286 | 11,973 | 15,454 | |||
Policyholder benefits and claims | 0 | 0 | 374 | |||
Impairment of goodwill and other intangible assets | 0 | 21 | 1,256 | |||
Restructuring activities | 360 | 447 | 484 | |||
Total noninterest expenses | 23,461 | 24,695 | 29,442 | |||
Income (loss) before income taxes | 1,330 | 1,228 | (810) | |||
Income tax expense (benefit) | 989 | 1,963 | 546 | |||
Net income (loss) | 341 | (735) | (1,356) | |||
Net income (loss) attributable to noncontrolling interests | 75 | 15 | 45 | |||
Net income (loss) attributable to Deutsche Bank shareholders and additional equity components | € 267 | € (751) | € (1,402) | |||
[1] | Interest and similar income included EUR16.8billion for the year ended December31, 2018 calculated based on effective interest method. | |||||
[2] | Interest and similar income included EUR16.8billion for the year ended December31, 2018 calculated based on effective interest method. |
Consolidated Statement of Inc_2
Consolidated Statement of Income (Parenthetical) € in Millions | 12 Months Ended | |
Dec. 31, 2018EUR (€) | ||
Consolidated Statement of Income [Abstract] | ||
Interest and similar income | € 24,793 | [1] |
of which: based on effective interest method | € 16,806 | |
[1] | Interest and similar income included EUR16.8billion for the year ended December31, 2018 calculated based on effective interest method. |
Earnings per Common Share
Earnings per Common Share - € / shares | 12 Months Ended | |||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | ||
Earnings per share [Abstract] | ||||
Basic | [1],[2] | € (0.01) | € (0.53) | € (1.08) |
Diluted | [1],[2] | € (0.01) | € (0.53) | € (1.08) |
Number of shares in million [Abstract] | ||||
Denominator for basic earnings per share, weighted-average shares outstanding | [2] | 2,102.2 | 1,967.7 | 1,555.3 |
Denominator for diluted earnings per share, adjusted weighted-average shares after assumed conversions | [2],[3] | 2,102.2 | 1,967.7 | 1,555.3 |
[1] | Earnings were adjusted by EUR292and EUR298 and EUR276million net of tax for the coupons paid on Additional Tier 1 Notes in April 2018, April 2017 and April 2016. In accordance with IAS33 the coupons paid on Additional Tier1 Notes are not attributable to Deutsche Bank shareholders and therefore need to be deducted in the calculation. This adjustment created a net loss situation for Earnings per Common Share for 2018. | |||
[2] | The number of average basic and diluted shares outstanding has been adjusted for all periods before April 2017 in order to reflect the effect of the bonus component of subscription rights issued in April 2017 in connection with the capital increase. | |||
[3] | Due to the net loss situation for 2018, 2017 and 2016 potentially dilutive shares are generally not considered for the earnings per share calculation, because to do so would decrease the net loss per share. Under a net income situation however, the number of adjusted weighted average shares after assumed conversion would have been increased by53million shares for 2018,62million shares for 2017 and27million shares for 2016. |
Earnings per Common Share (Pare
Earnings per Common Share (Parenthetical) - EUR (€) € in Millions | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Earnings per Common Share [Abstract] | |||
Earnings adjustment for coupons paid on Additional Tier 1 Notes in April, net of tax | € 292 | € 298 | € 276 |
Increase in number of adjusted weighted average shares after assumed convertion of potentially dilutive shares under a net income situation (in shares) | 53 | 62 | 27 |
Consolidated Statement of Compr
Consolidated Statement of Comprehensive Income - EUR (€) € in Millions | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Consolidated Statement of Comprehensive Income [Line Items] | |||
Net income (loss) recognized in the income statement | € 341 | € (735) | € (1,356) |
Items that will not be reclassified to profit or loss [Abstract] | |||
Remeasurement gains (losses) related to defined benefit plans, before tax | (216) | (69) | (861) |
Net fair value gains (losses) attributable to credit risk related to financial liabilities designated as at fair value through profit or loss, before tax | 52 | ||
Total of income tax related to items that will not be reclassified to profit or loss | 10 | (23) | 344 |
Financial assets available for sale [Abstract] | |||
Unrealized net gains (losses) arising during the period, before tax | 197 | (2) | |
Realized net (gains) losses arising during the period (reclassified to profit or loss), before tax | 523 | 571 | |
Financial assets mandatory at fair value through other comprehensive income [Abstract] | |||
Unrealized net gains (losses) arising during the period, before tax | (245) | ||
Realized net (gains) losses arising during the period (reclassified to profit or loss), before tax | 317 | ||
Derivatives hedging variability of cash flows [Abstract] | |||
Unrealized net gains (losses) arising during the period, before tax | (3) | (34) | 62 |
Realized net (gains) losses arising during the period (reclassified to profit or loss), before tax | 0 | (137) | (2) |
Assets classified as held for sale [Abstract] | |||
Unrealized net gains (losses) arising during the period, before tax | 2 | (162) | 529 |
Realized net (gains) losses arising during the period (reclassified to profit or loss), before tax | (2) | 162 | (1,191) |
Foreign currency translation [Abstract] | |||
Unrealized net gains (losses) arising during the period, before tax | 457 | (2,699) | 203 |
Realized net (gains) losses arising during the period (reclassified to profit or loss), before tax | 0 | 20 | (2) |
Equity Method Investments [Abstract] | |||
Net gains (losses) arising during the period | (10) | (36) | 11 |
Total of income tax related to items that are or may be reclassified to profit or loss | 228 | 146 | 117 |
Other comprehensive income (loss), net of tax | (43) | (3,157) | (1,364) |
Total comprehensive income (loss), net of tax | 298 | (3,892) | (2,721) |
Attributable to [Abstract] | |||
Noncontrolling interests | 116 | (20) | 52 |
Deutsche Bank shareholders and additional equity components | € 182 | € (3,872) | € (2,773) |
Consolidated Balance Sheet
Consolidated Balance Sheet - EUR (€) € in Millions | Dec. 31, 2018 | Dec. 31, 2017 | |
Assets [Abstract] | |||
Cash and central bank balances | € 188,731 | € 225,655 | |
Interbank balances (w/o central banks) | 8,881 | 9,265 | |
Central bank funds sold and securities purchased under resale agreements | 8,222 | 9,971 | |
Securities borrowed | 3,396 | 16,732 | |
Financial assets at fair value through profit or loss [Abstract] | |||
Trading assets | 152,738 | 184,661 | |
Positive market values from derivative financial instruments | 320,058 | 361,032 | |
Non-trading financial assets mandatory at fair value through profit and loss | 100,444 | ||
Financial assets designated at fair value through profit or loss | 104 | 91,276 | |
Total financial assets at fair value through profit or loss | 573,344 | 636,970 | |
Financial assets at fair value through other comprehensive income | 38,450 | 0 | |
Financial assets available for sale | 49,397 | ||
Equity method investments | 879 | 866 | |
Loans at amortized cost | 400,297 | 401,699 | |
Securities held to maturity | 0 | 3,170 | |
Property and equipment | 2,421 | 2,663 | |
Goodwill and other intangible assets | 9,141 | 8,839 | |
Other assets | 93,444 | 101,491 | |
Assets for current tax | 970 | 1,215 | |
Deferred tax assets | 7,230 | 6,799 | |
Total assets | 1,348,137 | 1,474,732 | |
Liabilities and equity [Abstract] | |||
Deposits | 564,405 | 581,873 | |
Central bank funds purchased and securities sold under repurchase agreements | 4,867 | 18,105 | |
Securities loaned | 3,359 | 6,688 | |
Financial liabilities at fair value through profit or loss [Abstract] | |||
Trading liabilities | 59,924 | 71,462 | |
Negative market values from derivative financial instruments | 301,487 | 342,726 | |
Financial liabilities designated at fair value through profit or loss | 53,757 | 63,874 | |
Investment contract liabilities | 512 | 574 | |
Total financial liabilities at fair value through profit or loss | 415,680 | 478,636 | |
Other short-term borrowings | 14,158 | 18,411 | |
Other liabilities | 117,513 | 132,208 | |
Provisions | 2,711 | 4,158 | |
Liabilities for current tax | 944 | 1,001 | |
Deferred tax liabilities | 512 | 346 | |
Long-term debt | 152,083 | 159,715 | |
Trust preferred securities | [1] | 3,168 | 5,491 |
Obligation to purchase common shares | 0 | 0 | |
Total liabilities | 1,279,400 | 1,406,633 | |
Common shares, no par value, nominal value of EUR 2.56 | 5,291 | 5,291 | |
Additional paid-in capital | 40,252 | 39,918 | |
Retained earnings | 16,714 | 17,454 | |
Common shares in treasury, at cost | (15) | (9) | |
Equity classified as obligation to purchase common shares | 0 | 0 | |
Accumulated other comprehensive income (loss), net of tax | 253 | 520 | |
Total shareholders equity | 62,495 | 63,174 | |
Additional equity components | 4,675 | 4,675 | |
Noncontrolling interests | 1,568 | 250 | |
Total equity | 68,737 | 68,099 | |
Total liabilities and equity | € 1,348,137 | € 1,474,732 | |
[1] | Perpetual instruments, redeemable at specific future dates at the Groups option. |
Consolidated Balance Sheet (Par
Consolidated Balance Sheet (Parenthetical) | 12 Months Ended |
Dec. 31, 2018EUR (€) | |
Consolidated Balance Sheet [Abstract] | |
Nominal value of Common shares, no par value | € 2.56 |
Consolidated Statement of Chang
Consolidated Statement of Changes in Equity - EUR (€) € in Millions | Total | Common shares (no par value) [Member] | Additional paid-in capital [Member] | Retained earnings [Member] | Common shares in treasury, at cost [Member] | Unrealized net gains (losses) on financial assets available for sale, net of applicable tax and other [Member] | [1] | Unrealized net gains (losses) on financial assets at FVOCI, net of tax and other | [1] | Unrealized net gains (losses) Attributable to change in own credit risk of financial liabilities designated at FVTPL, net of tax | [1] | Unrealized net gains (losses) on derivatives hedging variability of cash flows, net of tax [Member] | [1] | Unrealized net gains (losses) on assets classified as held for sale, net of tax [Member] | [1] | Foreign currency translation, net of tax [Member] | [1] | Unrealized net gains (losses) from equity method investments [Member] | Accumulated other comprehensive income, net of tax [Member] | Total shareholders equity [Member] | Additional equity components [Member] | [2] | Noncontrolling interests [Member] | ||||
Equity, Balance at Dec. 31, 2015 | € 67,624 | € 3,531 | € 33,572 | € 21,182 | € (10) | € 1,384 | € 0 | € 0 | € 97 | € 662 | € 2,196 | € 66 | € 4,404 | € 62,678 | € 4,675 | € 270 | |||||||||||
Total comprehensive income (loss), net of tax | [3] | (2,204) | 0 | 0 | (1,402) | 0 | (472) | 0 | 0 | 46 | (662) | 223 | 11 | (854) | (2,256) | 0 | 52 | ||||||||||
Common shares issued | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | [3] | 0 | 0 | 0 | ||||||||||
Cash dividends paid | (11) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | [3] | 0 | 0 | (11) | ||||||||||
Coupon on additional equity components, net of tax | (276) | 0 | 0 | (276) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | [3] | (276) | 0 | 0 | ||||||||||
Remeasurement gains (losses) related to defined benefit plans, net of tax | (517) | 0 | 0 | (517) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | [3] | (517) | 0 | 0 | ||||||||||
Net change in share awards in the reporting period | 64 | 0 | 64 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | [3] | 64 | 0 | 0 | ||||||||||
Treasury shares distributed under share-based compensation plans | 239 | 0 | 0 | 0 | 239 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | [3] | 239 | 0 | 0 | ||||||||||
Tax benefits related to share-based compensation plans | 2 | 0 | 2 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | [3] | 2 | 0 | 0 | ||||||||||
Option premiums and other effects from options on common shares | (129) | 0 | (129) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | [3] | (129) | 0 | 0 | ||||||||||
Purchases of treasury shares | (5,264) | 0 | 0 | 0 | (5,264) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | [3] | (5,264) | 0 | 0 | ||||||||||
Sale of treasury shares | 5,035 | 0 | 0 | 0 | 5,035 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | [3] | 5,035 | 0 | 0 | ||||||||||
Net gains (losses) on treasury shares sold | (7) | 0 | (7) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | [3] | (7) | 0 | 0 | ||||||||||
Other | 262 | 0 | 263 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | [3] | 263 | (6) | [4] | 4 | |||||||||
Equity, Balance at Dec. 31, 2016 | 64,819 | 3,531 | 33,765 | 18,987 | 0 | 912 | 0 | 0 | 143 | 0 | 2,418 | 77 | 3,550 | [3] | 59,833 | 4,669 | 316 | ||||||||||
Gains (losses) attributable to equity instruments designated as at fair value through other comprehensive income, net of tax | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | [3] | 0 | 0 | 0 | ||||||||||
Gains (losses) upon early extinguishment attributable to change in own credit risk of financial liabilities designated as at fair value through profit and loss, net of tax | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | [3] | 0 | 0 | 0 | ||||||||||
Total comprehensive income (loss), net of tax | [3] | (3,800) | 0 | 0 | (751) | 0 | (223) | 0 | 0 | (125) | 0 | (2,646) | (36) | (3,030) | (3,781) | 0 | (20) | ||||||||||
Common shares issued | 8,037 | 1,760 | 6,277 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | [3] | 8,037 | 0 | 0 | ||||||||||
Cash dividends paid | (403) | 0 | 0 | (392) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | [3] | (392) | 0 | (11) | ||||||||||
Coupon on additional equity components, net of tax | (298) | 0 | 0 | (298) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | [3] | (298) | 0 | 0 | ||||||||||
Remeasurement gains (losses) related to defined benefit plans, net of tax | (91) | 0 | 0 | (91) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | [3] | (91) | 0 | 0 | ||||||||||
Net change in share awards in the reporting period | (51) | 0 | (51) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | [3] | (51) | 0 | 0 | ||||||||||
Treasury shares distributed under share-based compensation plans | 424 | 0 | 0 | 0 | 424 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | [3] | 424 | 0 | 0 | ||||||||||
Tax benefits related to share-based compensation plans | 3 | 0 | 3 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | [3] | 3 | 0 | 0 | ||||||||||
Option premiums and other effects from options on common shares | (104) | 0 | (104) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | [3] | (104) | 0 | 0 | ||||||||||
Purchases of treasury shares | (7,912) | 0 | 0 | 0 | (7,912) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | [3] | (7,912) | 0 | 0 | ||||||||||
Sale of treasury shares | 7,479 | 0 | 0 | 0 | 7,479 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | [3] | 7,479 | 0 | 0 | ||||||||||
Net gains (losses) on treasury shares sold | 6 | 0 | 6 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | [3] | 6 | 0 | 0 | ||||||||||
Other | (9) | 0 | 22 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | [3] | 22 | 6 | [4] | (36) | |||||||||
Equity, Balance at Dec. 31, 2017 | 68,099 | 5,291 | 39,918 | 17,454 | (9) | 689 | 0 | 0 | 18 | 0 | (227) | 40 | 520 | [3] | 63,174 | 4,675 | 250 | ||||||||||
Gains (losses) attributable to equity instruments designated as at fair value through other comprehensive income, net of tax | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | [3] | 0 | 0 | 0 | ||||||||||
Gains (losses) upon early extinguishment attributable to change in own credit risk of financial liabilities designated as at fair value through profit and loss, net of tax | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | [3] | 0 | 0 | 0 | ||||||||||
Balance (IAS 39) as of December 31, 2017 | 68,099 | 5,291 | 39,918 | 17,454 | (9) | 689 | 0 | 0 | 18 | 0 | (227) | 40 | 520 | [3] | 63,174 | 4,675 | 250 | ||||||||||
IFRS 9 Introduction Impact | (672) | 0 | (2) | (301) | 0 | (689) | 394 | (16) | 0 | 0 | (45) | (12) | (368) | [3] | (671) | 0 | (1) | ||||||||||
Total comprehensive income (loss), net of tax | [3] | 490 | 0 | 0 | 267 | 0 | 0 | (428) | 44 | (1) | 0 | 500 | (14) | 101 | 368 | 0 | 122 | ||||||||||
Common shares issued | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | [3] | 0 | 0 | 0 | ||||||||||
Cash dividends paid | (235) | 0 | 0 | (227) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | [3] | (227) | 0 | (8) | ||||||||||
Coupon on additional equity components, net of tax | (292) | 0 | 0 | (292) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | [3] | (292) | 0 | 0 | ||||||||||
Remeasurement gains (losses) related to defined benefit plans, net of tax | (198) | 0 | 0 | (186) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | [3] | (186) | 0 | (12) | ||||||||||
Net change in share awards in the reporting period | 112 | 0 | 90 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | [3] | 90 | 0 | 23 | ||||||||||
Treasury shares distributed under share-based compensation plans | 199 | 0 | 0 | 0 | 199 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | [3] | 199 | 0 | 0 | ||||||||||
Tax benefits related to share-based compensation plans | (4) | 0 | (5) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | [3] | (5) | 0 | 1 | ||||||||||
Option premiums and other effects from options on common shares | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | [3] | 0 | 0 | 0 | ||||||||||
Purchases of treasury shares | (4,119) | 0 | 0 | 0 | (4,119) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | [3] | (4,119) | 0 | 0 | ||||||||||
Sale of treasury shares | 3,914 | 0 | 0 | 0 | 3,914 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | [3] | 3,914 | 0 | 0 | ||||||||||
Net gains (losses) on treasury shares sold | (2) | 0 | (2) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | [3] | (2) | 0 | 0 | ||||||||||
Other | 1,446 | 0 | 253 | [5] | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | [3] | 253 | 0 | 1,193 | [5] | ||||||||
Equity, Balance at Dec. 31, 2018 | 68,737 | 5,291 | 40,252 | 16,714 | (15) | 0 | (34) | 28 | 17 | 0 | 228 | 15 | 253 | [3] | 62,495 | 4,675 | 1,568 | ||||||||||
Balance (IFRS 9) as of | 67,427 | 5,291 | 39,916 | 17,153 | (9) | 0 | 394 | (16) | 18 | 0 | (272) | 28 | 152 | [3] | 62,503 | 4,675 | 249 | ||||||||||
Gains (losses) attributable to equity instruments designated as at fair value through other comprehensive income, net of tax | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | [3] | 0 | 0 | 0 | ||||||||||
Gains (losses) upon early extinguishment attributable to change in own credit risk of financial liabilities designated as at fair value through profit and loss, net of tax | € 0 | € 0 | € 0 | € 0 | € 0 | € 0 | € 0 | € 0 | € 0 | € 0 | € 0 | € 0 | € 0 | [3] | € 0 | € 0 | € 0 | ||||||||||
[1] | Excluding unrealized net gains (losses) from equity method investments. | ||||||||||||||||||||||||||
[2] | Includes Additional Tier 1 Notes, which constitute unsecured and subordinated notes of Deutsche Bank and are classified as equity in accordance with IFRS. | ||||||||||||||||||||||||||
[3] | Excluding remeasurement gains (losses) related to defined benefit plans, net of tax. | ||||||||||||||||||||||||||
[4] | Includes net proceeds from purchase and sale of Additional Equity Components. | ||||||||||||||||||||||||||
[5] | Includes the impact from the initial public offering of DWS Group GmbH & Co. KGaA. |
Consolidated Statement of Cash
Consolidated Statement of Cash Flows - EUR (€) € in Millions | 12 Months Ended | ||||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |||
Consolidated Statement of Cash Flows [Line Items] | |||||
Net income (loss) | € 341 | € (735) | € (1,356) | ||
Adjustments to reconcile net income to net cash provided by (used in) operating activities [Abstract] | |||||
Provision for credit losses | 525 | 525 | 1,383 | ||
Restructuring activities | 360 | 447 | 484 | ||
Gain on sale of financial assets available for sale and securities held to maturity | (516) | (695) | |||
Gain on sale of financial assets at fair value through other comprehensive income, equity method investments and other | (619) | (59) | (203) | ||
Deferred income taxes, net | 276 | 1,234 | (312) | ||
Impairment, depreciation and other amortization, and accretion | 2,391 | 2,159 | 3,745 | ||
Share of net income from equity method investments | (129) | (141) | (183) | ||
Income (loss) adjusted for noncash charges, credits and other items | 3,145 | 2,914 | 2,862 | ||
Adjustments for net change in operating assets and liabilities [Abstract] | |||||
Interest-earning time deposits with central banks and banks | (10,954) | 966 | (2,814) | ||
Central bank funds sold, securities purchased under resale agreements, securities borrowed | 15,004 | 8,560 | 19,440 | ||
Non-Trading financial assets mandatory at fair value through profit and loss | (98,560) | ||||
Financial assets designated at fair value through profit or loss | 91,176 | (6,721) | 20,337 | ||
Loans at amortized cost | 302 | 2,759 | 18,190 | ||
Other assets | 6,284 | 21,970 | (7,847) | ||
Deposits | (16,763) | 34,601 | (15,237) | ||
Financial liabilities designated at fair value through profit or loss and investment contract liabilities | [1] | (10,549) | 5,461 | 8,686 | |
Central bank funds purchased, securities sold under repurchase agreements, securities loaned | (16,716) | (3,355) | 16,362 | ||
Other short-term borrowings | (4,266) | 1,148 | (10,632) | ||
Other liabilities | (19,119) | (23,107) | (12,888) | ||
Senior long-term debt | [2] | (6,840) | (12,728) | 12,328 | |
Trading assets and liabilities, positive and negative market values from derivative financial instruments, net | 20,542 | 1,596 | 30,341 | ||
Other, net | (6,752) | 5,512 | (8,518) | ||
Net cash provided by (used in) operating activities | (54,066) | 39,576 | 70,610 | ||
Proceeds from [Abstract] | |||||
Sale of financial assets at fair value through other comprehensive income | 22,126 | ||||
Maturities of financial assets at fair value through other comprehensive income | 26,001 | ||||
Sale of debt securities held to collect at AC | 94 | ||||
Maturities of debt securities held to collect at AC | 1,904 | ||||
Sale of financial assets available for sale | 10,657 | 26,855 | |||
Maturities of financial assets available for sale | 6,798 | 6,029 | |||
Maturities of securities held to maturity | 0 | 0 | |||
Sale of equity method investments | 30 | 80 | 50 | ||
Sale of property and equipment | 356 | 113 | 206 | ||
Purchase of [Abstract] | |||||
Financial assets at fair value through other comprehensive income | (41,031) | ||||
Debt Securities held to collect at amortized cost | (309) | ||||
Financial assets available for sale | (13,472) | (21,639) | |||
Securities held to maturity | 0 | 0 | |||
Equity method investments | (1) | (12) | (81) | ||
Property and equipment | (465) | (485) | (725) | ||
Net cash received in (paid for) business combinations/divestitures | 114 | 82 | 2,023 | ||
Other, net | (1,291) | (1,328) | (1,479) | ||
Net cash provided by (used in) investing activities | 7,528 | 2,433 | 11,239 | ||
Cash flows from financing activities [Abstract] | |||||
Issuances of subordinated long-term debt | 68 | [3] | 881 | 815 | |
Repayments and extinguishments of subordinated long-term debt | (1,171) | [3] | (176) | (1,102) | |
Issuances of trust preferred securities | 4 | [4] | 266 | 121 | |
Repayments and extinguishments of trust preferred securities | (2,733) | [4] | (666) | (840) | |
Common shares issued | 0 | 8,037 | 0 | ||
Purchases of treasury shares | (4,119) | (7,912) | (5,264) | ||
Sale of treasury shares | 3,912 | 7,471 | 4,983 | ||
Additional Equity Components (AT1) issued | 0 | 0 | 0 | ||
Purchases of Additional Equity Components (AT1) | (236) | (205) | (207) | ||
Sale of Additional Equity Components (AT1) | 234 | 217 | 202 | ||
Coupon on additional equity components, pre tax | (315) | (335) | (333) | ||
Dividends paid to noncontrolling interests | (8) | (11) | (11) | ||
Net change in noncontrolling interests | 1,205 | (37) | (13) | ||
Cash dividends paid to Deutsche Bank shareholders | (227) | (392) | 0 | ||
Other, net | 52 | 0 | 0 | ||
Net cash provided by (used in) financing activities | (3,334) | 7,138 | (1,649) | ||
Net effect of exchange rate changes on cash and cash equivalents | 1,668 | (5,772) | (28) | ||
Net increase (decrease) in cash and cash equivalents | (48,203) | 43,376 | 80,172 | ||
Cash and cash equivalents at beginning of period | 229,025 | 185,649 | 105,478 | ||
Cash and cash equivalents at end of period | 180,822 | 229,025 | 185,649 | ||
Net cash provided by (used in) operating activities include [Abstract] | |||||
Income taxes paid (received), net | 468 | 689 | 1,572 | ||
Interest paid | 11,743 | 11,784 | 10,808 | ||
Interest and dividends received [Abstract] | |||||
Interest received | 22,408 | 21,095 | 22,579 | ||
Dividend received | 2,186 | 3,006 | 3,256 | ||
Cash and cash equivalents comprise [Abstract] | |||||
Cash and central bank balances (not included Interest-earning time deposits with central banks) | 174,059 | 222,451 | 178,105 | ||
Interbank balances (w/o central banks) | 6,763 | 6,574 | 7,544 | ||
Total | € 180,822 | € 229,025 | € 185,649 | ||
[1] | Included are senior long-term debt issuances of EUR5.3billion and EUR5.0billion and repayments and extinguishments of EUR5.2billion and EUR4.6billion through December31,2018 and December 31,2017, respectively. | ||||
[2] | Included are issuances of EUR27.4billion and EUR33.4billion and repayments and extinguishments of EUR32.8billion and EUR41.3billion through December 31,2018 and December31,2017, respectively. | ||||
[3] | Non-cash changes for Subordinated Long Term Debt are EUR148million in total and driven by FX movements EUR162million and FV changes of EUR(39)million | ||||
[4] | Non-cash changes for Trust Preferred Securities are EUR407million in total and driven by FV changes of EUR178million and FX movements of EUR168million. |
Consolidated Statement of Cas_2
Consolidated Statement of Cash Flows (Parenthetical) - EUR (€) € in Millions | 12 Months Ended | |||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | ||
Consolidated Statement of Cash Flows [Abstract] | ||||
Financial liabilities designated at fair value through profit or loss and investment contract liabilities | [1] | € (10,549) | € 5,461 | € 8,686 |
thereof: Senior long-term debt issuances | 5,300 | 5,000 | ||
thereof: Repayments and extinguishments | 5,200 | 4,600 | ||
Senior long-term debt | [2] | (6,840) | (12,728) | 12,328 |
thereof: Issuances | 27,400 | 33,400 | ||
thereof: Repayments and extinguishments | 32,800 | 41,300 | ||
Total non-cash changes for Subordinated Long Term Debt | 148 | |||
thereof: Driven by FX movements | 162 | |||
thereof: Driven by FV changes | (39) | |||
Non-cash changes for Trust Preferred Securities | 407 | |||
thereof: Driven by FX movements | 168 | |||
thereof: Driven by FV Changes | 178 | |||
Time deposits not included in Interbank balances (w/o central banks) | € 16,800 | € 5,900 | € 7,100 | |
[1] | Included are senior long-term debt issuances of EUR5.3billion and EUR5.0billion and repayments and extinguishments of EUR5.2billion and EUR4.6billion through December31,2018 and December 31,2017, respectively. | |||
[2] | Included are issuances of EUR27.4billion and EUR33.4billion and repayments and extinguishments of EUR32.8billion and EUR41.3billion through December 31,2018 and December31,2017, respectively. |
Significant Accounting Policies
Significant Accounting Policies and Critical Accounting Estimates | 12 Months Ended |
Dec. 31, 2018 | |
Significant Accounting Policies and Critical Accounting Estimates [Abstract] | |
Significant Accounting Policies and Critical Accounting Estimates | Notes to the Consolidated Financial Statements Significant Accounting Policies and Critical Accounting Estimates Basis of Accounting Deutsche Bank Aktiengesellschaft (“Deutsche Bank” or the “Parent”) is a stock corporation organized under the laws of the Federal Republic of Germany. Deutsche Bank together with all entities in which Deutsche Bank has a controlling financial interest (the “Group”) is a global provider of a full range of corporate and investment banking, private clients and asset management products and services. The accompanying consolidated financial statements are stated in euros, the presentation currency of the Group. All financial information presented in million euros has been rounded to the nearest million. The consolidated financial statements have been prepared in accordance with International Financial Reporting Standards (“IFRS”) as issued by the International Accounting Standards Board (“IASB”) and endorsed by the European Union (“EU”). The Group’s application of IFRS results in no differences between IFRS as issued by the IASB and IFRS as endorsed by the EU. Disclosures about the nature and the extent of risks arising from financial instruments as required by IFRS 7, “Financial Instruments: Disclosures” are set forth in the Risk Report section of the Management Report and are an integral part of the Consolidated Financial Statements. These audited disclosures are identified by bracketing in the margins of the Risk Report. Discount Rate for Defined Benefit Pension Plans In 2017 the Group moved to a more standardized, simpler approach to set its discount rate used to value its defined benefit plans in the Eurozone; similar approaches are generally accepted and are already used for the Group’s other major pension plans in the United Kingdom and the United States. The refinement resulted in no change in the discount rate and so no effect on the Group’s Consolidated Statement of Comprehensive Income in 2017. Adjustment of Impairment Methodology for Shipping Loans In the third quarter of 2017, the Group has adjusted the parameters for shipping loans being assessed for impairment under a going concern or gone concern scenario. This change in parameters resulted in a change in the estimated impairment charge of € 70 million increase. The Group also revised its general haircut applied to shipping loans with gone concern exposures, which also resulted in a change in estimate of € 36 million additional impairment. These changes in estimates are reflected in the allowance for credit losses. Home Savings Contracts In the second quarter of 2018, the Group changed its accounting policy for the obligations related to interest bonuses on home savings contracts. Such bonuses are typically paid to depositors who abstain from entering into a mortgage loan when qualifying for utilisation and decide to terminate the contract and receive repayment of the deposit amount plus accrued interest and bonus coupon. Previously, the Group accounted for the obligation to pay an interest bonus as a provision under IAS 37. Developments in market practice resulted in the Group analysing its accounting policy and deciding to account for the home savings deposit, in its entirety, in accordance with IFRS 9 as it provides more reliable and relevant information about the product. The change in accounting policy resulted in a reclassification of € 1.1 billion and € 1.1 billion from Provisions to Deposits in the Group’s consolidated balance sheet as of June 30, 2018 and December 31, 2017, respectively. The re-measurement of the obligations related to interest bonuses under IFRS 9 compared to IAS 37 resulted in an immaterial effect on the Group’s Consolidated Statement of Comprehensive Income and the Group's total shareholders' equity in the current and all comparative periods; and therefore they were not adjusted. Critical Accounting Estimates The preparation of financial statements under IFRS requires management to make estimates and assumptions for certain categories of assets and liabilities. These estimates and assumptions affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the balance sheet date, and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from management’s estimates. The Group’s significant accounting policies are described in “Significant Accounting Policies”. Certain of the Group’s accounting policies require critical accounting estimates that involve complex and subjective judgments and the use of assumptions, some of which may be for matters that are inherently uncertain and susceptible to change. Such critical accounting estimates could change from period to period and may have a material impact on the Group’s financial condition, changes in financial condition or results of operations. Critical accounting estimates could also involve estimates where management could have reasonably used another estimate in the current accounting period. The Group has identified the following significant accounting policies that involve critical accounting estimates: the impairment of associates (see “Associates” below) the impairment of financial assets at fair value through other comprehensive income (see “Financial Assets (IFRS 9 - 2018 only) – Financial Assets at Fair Value through Other Comprehensive Income” below) the impairment of financial assets available for sale (see “Financial Assets (IAS 39 - prior periods only) – Financial Assets Classified as Available for Sale” below) the determination of fair value (see “Determination of Fair Value” below) the recognition of trade date profit (see “Recognition of Trade Date Profit” below) the impairment of loans and provisions for off-balance sheet positions (see “Impairment of Loans and Provision for Off-balance Sheet Positions” below) the impairment of goodwill and other intangibles (see “Goodwill and Other Intangible Assets” below) the recognition and measurement of deferred tax assets (see “Income Taxes” below) the accounting for legal and regulatory contingencies and uncertain tax positions (see “Provisions” below) Significant Accounting Policies The following is a description of the significant accounting policies of the Group. Except for the changes in accounting policies and changes in accounting estimates described previously and noted below these policies have been consistently applied for 2016, 2017 and 2018. Principles of Consolidation The financial information in the Consolidated Financial Statements includes the parent company, Deutsche Bank AG, together with its consolidated subsidiaries, including certain structured entities presented as a single economic unit. Subsidiaries The Group’s subsidiaries are those entities which it directly or indirectly controls. Control over an entity is evidenced by the Group’s ability to exercise its power in order to affect any variable returns that the Group is exposed to through its involvement with the entity. The Group sponsors the formation of structured entities and interacts with structured entities sponsored by third parties for a variety of reasons, including allowing clients to hold investments in separate legal entities, allowing clients to invest jointly in alternative assets, for asset securitization transactions, and for buying or selling credit protection. When assessing whether to consolidate an entity, the Group evaluates a range of control factors, namely: the purpose and design of the entity the relevant activities and how these are determined whether the Group’s rights result in the ability to direct the relevant activities whether the Group has exposure or rights to variable returns whether the Group has the ability to use its power to affect the amount of its returns Where voting rights are relevant, the Group is deemed to have control where it holds, directly or indirectly, more than half of the voting rights over an entity unless there is evidence that another investor has the practical ability to unilaterally direct the relevant activities. Potential voting rights that are deemed to be substantive are also considered when assessing control. Likewise, the Group also assesses existence of control where it does not control the majority of the voting power but has the practical ability to unilaterally direct the relevant activities. This may arise in circumstances where the size and dispersion of holdings of the shareholders give the Group the power to direct the activities of the investee. Subsidiaries are consolidated from the date on which control is transferred to the Group and are deconsolidated from the date that control ceases. The Group reassesses the consolidation status at least at every quarterly reporting date. Therefore, any changes in the structure leading to a change in one or more of the control factors, require reassessment when they occur. This includes changes in decision making rights, changes in contractual arrangements, changes in the financing, ownership or capital structure as well as changes following a trigger event which was anticipated in the original documentation. All intercompany transactions, balances and unrealized gains on transactions between Group companies are eliminated on consolidation. Consistent accounting policies are applied throughout the Group for the purposes of consolidation. Issuances of a subsidiary’s stock to third parties are treated as noncontrolling interests. Profit or loss attributable to noncontrolling interests are reported separately in the Consolidated Statement of Income and Consolidated Statement of Comprehensive Income. At the date that control of a subsidiary is lost, the Group a) derecognizes the assets (including attributable goodwill) and liabilities of the subsidiary at their carrying amounts, b) derecognizes the carrying amount of any noncontrolling interests in the former subsidiary, c) recognizes the fair value of the consideration received and any distribution of the shares of the subsidiary, d) recognizes any investment retained in the former subsidiary at its fair value and e) recognizes any resulting difference of the above items as a gain or loss in the income statement. Any amounts recognized in prior periods in other comprehensive income in relation to that subsidiary would be reclassified to the Consolidated Statement of Income or transferred directly to retained earnings if required by other IFRSs. Associates An associate is an entity in which the Group has significant influence, but not a controlling interest, over the operating and financial management policy decisions of the entity. Significant influence is generally presumed when the Group holds between 20 % and 50 % of the voting rights. The existence and effect of potential voting rights that are currently exercisable or convertible are considered in assessing whether the Group has significant influence. Among the other factors that are considered in determining whether the Group has significant influence are representation on the board of directors (supervisory board in the case of German stock corporations) and material intercompany transactions. The existence of these factors could require the application of the equity method of accounting for a particular investment even though the Group’s investment is less than 20 % of the voting stock. Investments in associates are accounted for under the equity method of accounting. The Group’s share of the results of associates is adjusted to conform to the accounting policies of the Group and is reported in the Consolidated Statement of Income as Net income (loss) from equity method investments. The Group’s share in the associate’s profits and losses resulting from intercompany sales is eliminated on consolidation. Under the equity method of accounting, the Group’s investments in associates and jointly controlled entities are initially recorded at cost including any directly related transaction costs incurred in acquiring the associate, and subsequently increased (or decreased) to reflect both the Group’s pro-rata share of the post-acquisition net income (or loss) of the associate or jointly controlled entity and other movements included directly in the equity of the associate or jointly controlled entity. Goodwill arising on the acquisition of an associate or a jointly controlled entity is included in the carrying value of the investment (net of any accumulated impairment loss). As goodwill is not reported separately it is not specifically tested for impairment. Rather, the entire equity method investment is tested for impairment at each balance sheet date. If there is objective evidence of impairment, an impairment test is performed by comparing the investment’s recoverable amount, which is the higher of its value in use and fair value less costs to sell, with its carrying amount. An impairment loss recognized in prior periods is only reversed if there has been a change in the estimates used to determine the investment’s recoverable amount since the last impairment loss was recognized. If this is the case the carrying amount of the investment is increased to its higher recoverable amount. The increased carrying amount of the investment in associate attributable to a reversal of an impairment loss shall not exceed the carrying amount that would have been determined had no impairment loss been recognised for the investment in prior years. At the date that the Group ceases to have significant influence over the associate or jointly controlled entity the Group recognizes a gain or loss on the disposal of the equity method investment equal to the difference between the sum of the fair value of any retained investment and the proceeds from disposing of the associate and the carrying amount of the investment. Amounts recognized in prior periods in other comprehensive income in relation to the associate are accounted for on the same basis as would have been required if the investee had directly disposed of the related assets or liabilities. Critical Accounting Estimates: As the assessment of whether there is objective evidence of impairment may require significant management judgment and the estimates for impairment could change from period to period based on future events that may or may not occur, the Group considers this to be a critical accounting estimate. Foreign Currency Translation The Consolidated Financial Statements are prepared in euro, which is the presentation currency of the Group. Various entities in the Group use a different functional currency, being the currency of the primary economic environment in which the entity operates. An entity records foreign currency revenues, expenses, gains and losses in its functional currency using the exchange rates prevailing at the dates of recognition. Monetary assets and liabilities denominated in currencies other than the entity’s functional currency are translated at the period end closing rate. Foreign exchange gains and losses resulting from the translation and settlement of these items are recognized in the Consolidated Statement of Income as net gains (losses) on financial assets/liabilities at fair value through profit or loss in order to align the translation amounts with those recognized from foreign currency related transactions (derivatives) which hedge these monetary assets and liabilities. Nonmonetary items that are measured at historical cost are translated using the historical exchange rate at the date of the transaction. Translation differences on nonmonetary items which are held at fair value through profit or loss are recognized in profit or loss. Translation differences on available for sale nonmonetary items (equity securities) are included in other comprehensive income and recognized in the Consolidated Statement of Income when the non-monetary item is sold as part of the overall gain or loss on sale of the item. For purposes of translation into the presentation currency, assets and liabilities of foreign operations are translated at the period end closing rate and items of income and expense are translated into euros at the rates prevailing on the dates of the transactions, or average rates of exchange where these approximate actual rates. The exchange differences arising on the translation of a foreign operation are included in other comprehensive income. For foreign operations that are subsidiaries, the amount of exchange differences attributable to any noncontrolling interests is recognized in noncontrolling interests. Upon disposal of a foreign subsidiary and associate (which results in loss of control or significant influence over that operation) the total cumulative exchange differences recognized in other comprehensive income are reclassified to profit or loss. Upon partial disposal of a foreign operation that is a subsidiary and which does not result in loss of control, the proportionate share of cumulative exchange differences is reclassified from other comprehensive income to noncontrolling interests as this is deemed a transaction with equity holders. For a partial disposal of an associate which does not result in a loss of significant influence, the proportionate share of cumulative exchange differences is reclassified from other comprehensive income to profit or loss. Interest, Commissions and Fees (IFRS 9 and IFRS 15 - 2018 only) Net Interest Income – Interest income and expense from all interest-bearing assets and liabilities is recognized as net interest income using the effective interest method. The effective interest rate (EIR) is a method of calculating the amortized cost of a financial asset or a financial liability and of allocating the interest income or expense over the relevant period using the estimated future cash flows. The estimated future cash flows used in the EIR calculation include those determined by all of the contractual terms of the asset or liability, all fees (including commissions) that are considered to be integral to the effective interest rate, direct and incremental transaction costs and all other premiums or discounts. However, if the financial instrument is carried at fair value through profit or loss, any associated fees are recognized in trading income when the instrument is initially recognized, provided there are no significant unobservable inputs used in determining its fair value. If a financial asset is credit impaired interest revenue is calculated by applying the effective interest rate to the gross carrying amount. The gross carrying amount of a financial asset is the amortised cost of a financial asset gross of any impairment allowance. For assets which are initially recognised as purchased or credit impaired, interest revenue is calculated through the use of a credit-adjusted effective interest rate which takes into consideration expected credit losses. The Group recognises income from government grants which are associated to interest-bearing assets and liabilities in net interest income when there is reasonable assurance that it will receive the grants and will comply with the conditions attached to the grants. As a result of the amendments to International Accounting Standard 1: “Presentation of Financial Statements” (IAS 1) following the adoption of IFRS 9, the Group presents interest income and expense calculated using the EIR method separately in the income statement. Commissions and Fee Income –The Group applies the IFRS 15, “Revenue from Contracts with Customers” five-step revenue recognition model to the recognition of Commissions and Fee Income, under which income must be recognized when control of goods and services is transferred, hence the contractual performance obligations to the customer has been satisfied. Accordingly, after a contract with a customer has been identified in the first step, the second step is to identify the performance obligation – or a series of distinct performance obligations – provided to the customer. The Group must examine whether the service is capable of being distinct and is actually distinct within the context of the contract. A promised service is distinct if the customer can benefit from the service either on its own or together with other resources that are readily available to the customer, and the promise to transfer the service to the customer is separately identifiable from other promises in the contract. The amount of income is measured on the basis of the contractually agreed transaction price for the performance obligation defined in the contract. If a contract includes variable consideration, the Group estimates the amount of consideration to which it will be entitled in exchange for transferring the promised goods or services to a customer. Income is recognized in profit and loss when the identified performance obligation has been satisfied. The Group provides asset management services that give rise to asset management and performance fees and constitute a single performance obligation. The asset management and performance fee components are variable considerations such that at each reporting date the Group estimates the fee amount to which it will be entitled in exchange for transferring the promised services to the customer. The benefits arising from the asset management services are simultaneously received and consumed by the customer over time. The Group recognizes revenue over time by measuring the progress towards complete satisfaction of that performance obligation, subject to the removal of any uncertainty as to whether it is highly probable that a significant reversal in the cumulative amount of revenue recognized would occur or not. For the management fee component this is the end of the monthly or quarterly service period. For performance fees this date is when any uncertainty related to the performance component has been fully removed. Loan commitment fees related to commitments that are accounted for off balance sheet are recognized in commissions and fee income over the life of the commitment if it is unlikely that the Group will enter into a specific lending arrangement. If it is probable that the Group will enter into a specific lending arrangement, the loan commitment fee is deferred until the origination of a loan and recognized as an adjustment to the loan’s effective interest rate. The following Commissions and Fee Income is predominantly earned from services that are received and consumed by the customer over time: Administration, assets under management, foreign commercial business, loan processing and guarantees sundry other customer services. Commissions and Fee Income predominantly earned from providing services at a point in time or transaction-type services include: other securities, underwriting and advisory fees, brokerage fees, local payments, foreign currency/ exchange business and intermediary fees. Expenses that are directly related and incremental to the generation of Commissions and Fee Income are presented net in Commissions and Fee Income. This includes income and associated expense where the Group contractually owns the performance obligation (i.e. as Principal) in relation to the service that gives rise to the revenue and associated expense. In contrast, it does not include situations where the Group does not contractually own the performance obligation and is acting as agent. The determination of whether the Group is acting as principal or agent is based on the contractual terms of the underlying service arrangement. The gross Commissions and Fee Income and Expense amounts are disclosed in “Note 6 – Commissions and Fee Income”. Interest, Commissions and Fees (IAS 18 - prior periods only) The Group applied the revenue recognition requirements of IAS 18, “Revenue” (IAS 18). Revenue was recognized when the amount of revenue and associated costs could be reliably measured, it is probable that economic benefits associated with the transaction will be realized and the stage of completion of the transaction could be reliably measured. This concept was applied to the key revenue generating activities of the Group as follows. Net Interest Income – Interest from all interest-bearing assets and liabilities was recognized as net interest income using the effective interest method. The effective interest rate is a method of calculating the amortized cost of a financial asset or a financial liability and of allocating the interest income or expense over the relevant period using the estimated future cash flows. The estimated future cash flows used in this calculation include those determined by the contractual terms of the asset or liability, all fees that are considered to be integral to the effective interest rate, direct and incremental transaction costs and all other premiums or discounts. Once an impairment loss was recognized on a loan, held-to-maturity investment or available for sale debt instruments, although the accrual of interest in accordance with the contractual terms of the instrument was discontinued, interest income was recognized based on the rate of interest that was used to discount future cash flows for the purpose of measuring the impairment loss. For a loan and held to maturity investment this would be the original effective interest rate, but a new effective interest rate was established each time an available for sale debt instrument was impaired as impairment was measured to fair value and based on a current market rate. The Group recognised income from government grants which are associated to interest-bearing assets and liabilities in net interest income when there was reasonable assurance that it will receive the grants and will comply with the conditions attached to the grants. Commissions and Fee Income – The recognition of fee revenue (including commissions) was determined by the purpose of the fees and the basis of accounting for any associated financial instruments. If there was an associated financial instrument, fees that are an integral part of the effective interest rate of that financial instrument are included within the effective yield calculation. However, if the financial instrument was carried at fair value through profit or loss, any associated fees are recognized in profit or loss when the instrument was initially recognized, provided there was no significant unobservable inputs used in determining its fair value. Fees earned from services that are provided over a specified service period were recognized over that service period. Fees earned for the completion of a specific service or significant event were recognized when the service was completed or the event occurred. Loan commitment fees related to commitments that are accounted for off balance sheet were recognized in commissions and fee income over the life of the commitment if it is unlikely that the Group will enter into a specific lending arrangement. If it was probable that the Group will enter into a specific lending arrangement, the loan commitment fee was deferred until the origination of a loan and recognized as an adjustment to the loan’s effective interest rate. Performance-linked fees or fee components were recognized when the performance criteria are fulfilled. The following fee income was predominantly earned from services that were provided over a period of time: investment fund management fees, fiduciary fees, custodian fees, portfolio and other management and advisory fees, credit-related fees and commission income. Fees predominantly earned from providing transaction-type services include underwriting fees, corporate finance fees and brokerage fees. Expenses that were directly related and incremental to the generation of fee income were presented net in Commissions and Fee Income. Financial Assets (IFRS 9 – 2018 only) The Group classifies financial assets in line with the classification and measurement requirements of IFRS 9, “Financial Instruments” (IFRS 9) where financial assets are classified based on both the business model used for managing the financial assets and the contractual cash flow characteristics of the financial asset (known as Solely Payments of Principal and Interest or “SPPI”). There are three business models available: Hold to Collect - Financial assets held with the objective to collect contractual cash flows. They are subsequently measured at amortized cost and are recorded in multiple lines on the Group’s consolidated balance s heet. Hold to Collect and Sell - Financial assets held with the objective of both collecting contractual cash flows and selling financial assets. They are recorded as Financial assets at Fair Value through Other Compr ehensive Income on the Group’s consolidated balance s heet. Other - Financial assets that do not meet the criteria of either “Hold to Collect” or “Hold to Collect and Sell”. They are recorded as Financial Assets at Fair Value through Profit or Loss on the Group’s consolidated balance s heet. The assessment of business model requires judgment based on facts and circumstances at the date of the adoption on January 1, 2018 and upon initial measurement. As part of this assessment, the Group considers quantitative factors (e.g., the expected frequency and volume of sales) and qualitative factors such as how the performance of the business model and the financial assets held within that business model are evaluated and reported to the Group’s key management personnel. In addition to taking into consideration the risks that affect the performance of the business model and the financial assets held within that business model, in particular, the way in which those market and credit risks are managed; and how managers of the business are compensated (e.g., whether the compensation is based on the fair value of the assets managed or on the contractual cash flows collected). This assessment results in an asset being classified in either a Hold to Collect, Hold to Collect and Sell or Other business model. If the Group holds a financial asset either in a Hold to Collect or a Hold to Collect and Sell business model, then an assessment at initial recognition to determine whether the contractual cash flows of the financial asset are Solely Payments of Principal and Interest on the principal amount outstanding at initial recognition is required to determine the classification. Contractual cash flows, that are SPPI on the principal amount outstanding, are consistent with a basic lending arrangement. Interest in a basic lending arrangement is consideration for the time value of money and the credit risk associated with the principal amount outstanding during a particular period of time. It can also include consideration for other basic lending risks (e.g., liquidity risk) and costs (e.g., administrative costs) associated with holding the financial asset for a particular period of time; and a profit margin that is consistent with a basic lending arrangement. Financial Assets at Fair Value through Profit or Loss Financial assets are classified at fair value through profit or loss if they are held in the other business model because they are either held for trading or because they do not meet the criteria for Hold to Collect or Hold to Collect and Sell. In addition, it includes financial assets that meet the criteria for Hold to Collect or Hold to Collect and Sell business model, but the financial asset fails SPPI or where the Group designated the financial assets under the fair value option. Financial assets classified as Financial Assets at fair value through profit or loss are measured at fair value with realized and unrealized gains and losses included in Net gains (losses) on financial assets/liabilities at fair value through profit or loss. Interest on interest earning assets such as trading loans and debt securities and dividends on equity instruments are presented in Interest and Similar Income. Financial assets classified at fair value through profit or loss are recognized or derecognized on trade date. Trade date is the date on which the Group commits to purchase or sell the asset. Trading Assets – Financial assets are classified as held for trading if they have been originated, acquired or incurred principally for the purpose of selling or repurchasing them in the near term, or they form part of a portfolio of identified financial instruments that are managed together and for which there is evidence of a recent actual pattern of short-term profit-taking. Trading assets include debt and equity securities, derivatives held for trading purposes, and trading loans. This also includes loan commitments that are allocated to the Other business model and that are classifi |
Recently Adopted and New Accoun
Recently Adopted and New Accounting Pronouncements | 12 Months Ended |
Dec. 31, 2018 | |
Recently Adopted and New Accounting Pronouncements [Abstract] | |
Recently Adopted and New Accounting Pronouncements [text block] | IFRS 9 Financial Instruments On January 1, 2018, the Group adopted IFRS 9 “Financial Instruments”, which replaces IAS 39, “Financial Instruments: Recognition and Measurement”. IFRS 9 introduces new requirements on how an entity should classify and measure financial assets, requires changes to the reporting of ‘own credit’ with respect to issued debt liabilities that are designated at fair value, replaces the rules for impairment of financial assets and amends the requirements for hedge accounting. The standard also requires entities to provide users of financial statements with more informative and relevant disclosures. The standard has been endorsed by the European Union (EU). As a result of IFRS 9, Deutsche Bank has introduced changes to the financial statements presentation. These changes relate to specific line items in the consolidated income statement and consolidated balance sheet. IFRS 9 incorporates new hedge accounting rules that intend to better align hedge accounting with risk management practices. Generally, some restrictions under IAS 39 rules have been removed and a greater variety of hedging instruments and hedged items become available for hedge accounting. IFRS 9 includes an accounting policy choice to defer the adoption of IFRS 9 hedge accounting and to continue with IAS 39 hedge accounting. The Group has decided to exercise this accounting policy choice and did not adopt IFRS 9 hedge accounting as of January 1, 2018. However, the Group implemented the revised hedge accounting disclosures that are required by the IFRS 9 related amendments to IFRS 7 “Financial Instruments: Disclosures”. In October 2017, the IASB issued an amendment to IFRS 9 "Prepayment Features with Negative Compensation", which allows entities to measure particular pre-payable financial assets with so-called negative compensation (also known as two way break clauses) at amortized cost or at fair value through other comprehensive income if the prepayment amount substantially represents unpaid principal and interest and reasonable compensation. Reasonable compensation may be positive or negative. Prior to this amendment financial assets with this negative compensation feature would have failed the solely payments of principal and interest test and have been mandatorily measured at fair value through profit or loss. The amendment has been endorsed by the EU and is effective for annual periods beginning on or after January 1, 2019, with early adoption allowed. In the second quarter of 2018, the Group adopted the amendments to IFRS 9 “Prepayment Features with Negative Compensation”. The amendments did not have a material impact on the IFRS 9 Transition Impact Analysis. IFRS 9 Transition Impact Analysis The purpose of this section is to describe the key aspects of the changes following the adoption of IFRS 9 with regards to classification and measurement and impairment as well as to provide an overview of the impact on key ratios, regulatory capital, Total Shareholders’ Equity and Risk Weighted Assets (RWA) at Deutsche Bank. This section provides a movement analysis from IAS 39 reported numbers as included in the Deutsche Bank Annual Report 2017 to IFRS 9 numbers as adopted from January 1, 2018. The transition rules of IFRS 9 do not require a retrospective application to prior periods, accordingly the initial adoption effect is reflected in the opening balance of Shareholders’ equity for the financial year 2018. Comparative periods in this report are presented in the structure according to IAS 39. Key metrics IAS 39 IFRS 9 Dec 31, 2017 Jan 1, 2018 ¹ Impact IFRS Total shareholders’ equity in € m 63,174 62,503 (671 ) Common Equity Tier 1 capital fully loaded in € m 48,300 47,907 (393 ) Risk Weighted Assets in € bn 344 345 0.5 Tier 1 Capital fully loaded in € m 52,921 52,528 (393 ) CET 1 Ratio fully loaded in % 14.0 % 13.9 % 13.0 % 2 Leverage Exposure in € bn 1,395 1,395 (0.4 ) Leverage Ratio fully loaded in % 3.8 % 3.8 % 3.0 % 2 Leverage Ratio phase-in in % 4.1 % 4.1 % 3.0 % 2 1 Pro forma. 2 In bps. The implementation of IFRS 9 as of January 1, 2018, led to a decrease of Deutsche Bank’s Shareholders’ equity of € 671 million including a tax benefit of € 199 million . Regulatory capital decreased by € 393 million due to a lower deduction of expected credit losses exceeding impairments for these exposures under the regulatory internal rating based approach (IRBA). Fully loaded CET 1 ratio decreased by 13 basis points, higher than earlier estimates due to refinements to the calculation of the impact of reducing the deduction for expected credit losses, and fully loaded Leverage Ratio is lower by 3 basis points. Deutsche Bank decided not to apply transitional rules for calculating regulatory ratios pursuant to CRR Art. 473a. This section will therefore only refer to the full IFRS 9 impact. Impact on Regulatory Capital, RWA, and Leverage Exposure Fully loaded in € m. Total Common Equity Tier 1 Capital Balance as of Dec 31, 2017 63,174 48,300 52,921 IFRS 9 changes from (870 ) (870 ) (870 ) Classification and Measurement (193 ) (193 ) (193 ) Impairments (677 ) (677 ) (677 ) Tax effects from 199 199 199 Classification and Measurement 65 65 65 Impairments 134 134 134 IFRS 9 impact net of tax (671 ) (671 ) (671 ) Changes to regulatory deductions Negative amounts resulting from the calculation of expected loss amounts 278 278 Balance as of Jan 1, 2018 1 62,503 47,907 52,528 1 Pro forma. in € bn Risk Weighted Leverage Balance as of Dec 31, 2017 344 1,395 Changes from 0 (0 ) DTA RWA / Change of Total Assets 1 (1 ) SA RWA/ Lower Deductions (0 ) 0 Balance as of Jan 1, 2018 1 345 1,395 Ratios as of Dec 31, 2017 14.0 % 3.8 % Ratios as of Jan 1, 2018 1 13.9 % 3.8 % Change in bps (13 ) (3 ) 1 Pro forma. Transitional rules in € m. Total Common Equity Tier 1 Capital Balance as of Dec 31, 2017 63,174 50,808 57,631 IFRS 9 changes from (870 ) (870 ) (870 ) Classification and Measurement (193 ) (193 ) (193 ) Impairments (677 ) (677 ) (677 ) Tax effects from 199 199 199 Classification and Measurement 65 65 65 Impairments 134 134 134 IFRS 9 impact net of tax (671 ) (671 ) (671 ) Changes to regulatory deductions Negative amounts resulting from the calculation of expected loss amounts 223 278 Balance as of Jan 1, 2018 1 62,503 50,359 2 57,238 1 Pro forma. 2 Pro forma view considering 80 % p hase-in according to CRR transitional rules. in € bn Risk Weighted Leverage Balance as of Dec 31, 2017 343 1,396 Changes from 0 0 DTA RWA / Change of Total Assets 1 0 SA RWA/ Lower Deductions (0 ) 0 Balance as of Jan 1, 2018 1 344 1,396 Ratios as of Dec 31, 2017 14.8 % 4.1 % Ratios as of Jan 1, 2018 1 14.6 % 4.1 % Change in bps (15 ) (3 ) 1 Pro forma. Main Credit Exposure Categories by Business Divisions With the introduction of IFRS 9 Deutsche Bank reviewed the way, how the credit risk exposure is presented within the Risk Report The definition of the Main Credit Exposure Categories were expanded and instead of only showing a certain subset of products, it was decided to show all products, regardless of their classification and measurement under IFRS 9 - The below table presents the 2017 comparative amounts for each Main Credit Exposure Category. A description of the categories is included in the Credit Risk Exposure section of the Risk Report. Loans Off-balance sheet OTC derivatives Debt securities Repo and repo- Total Dec 31, Dec 31, Dec 31, Dec 31, Dec 31, Dec 31, Dec 31, Dec 31, Dec 31, Dec 31, Dec 31, Dec 31, in € m. 2018 2017 2018 2017 2018 2017 2018 2017 2018 2017 2018 2017 Corporate & Investment Bank 164,163 153,473 217,203 206,021 27,028 30,993 90,062 86,272 76,032 99,335 574,488 576,094 Private & Commercial Bank 269,384 270,398 45,969 46,082 353 422 12,387 14,421 260 835 328,353 332,158 Asset Management 68 87 131 69 0 0 419 106 0 0 618 262 Corporate & Other 216 26 351 159 37 15 39,989 42,187 5,175 4,630 45,768 47,017 Total 433,832 423,984 263,654 252,331 27,417 31,430 142,857 142,986 81,467 104,800 949,227 955,531 Classification and Measurement The following table provides an overview of the impact of the changes to total assets under classification and measurement from IAS 39 as of December 31, 2017 to IFRS 9 as of January 1, 2018, excluding allowances for On- and Off-Balance Sheet positions, affected by IFRS 9. in € m. IAS 39 Reclassi- Remeasure- IFRS 9 Fair Value through Profit or Loss From Available for Sale (IAS 39) - 2,535 (3 ) - From Amortized Cost (IAS 39) - 41,914 (3 ) - To Amortised Cost (IFRS 9) - (5,900 ) - - To Fair Value through Other Comprehensive Income (IFRS 9) - (6,508 ) - - Total Fair Value through Profit or Loss 636,970 32,041 (6 ) 669,004 Fair Value through Other Comprehensive Income From Available for Sale (IAS 39) - 41,219 (104 ) - From Amortized Cost (IAS 39) - 9,943 64 - From Fair Value through Profit or Loss (IAS 39) - 6,508 - - To Amortised Cost (IFRS 9) - - - - To Fair Value through Profit or Loss (IFRS 9) - - - - Total Fair Value through Other Comprehensive Income - 57,671 (40 ) 57,631 Amortised Cost From Amortized Cost (IAS 39) - - - - From Available for Sale (IAS 39) - 5,642 24 - From Fair Value through Profit or Loss (IAS 39) - 5,900 (184 ) - To Fair Value through Other Comprehensive Income (IFRS 9) - (6,773 ) - - To Fair Value through Profit or Loss (IFRS 9) - (41,914 ) - - Total Amortised Cost 780,721 (37,145 ) (159 ) 743,417 Tax Assets 8,396 - 230 8,626 Available for Sale (IAS 39) 49,397 (49,397 ) - - Held to Maturity (IAS 39) 3,170 (3,170 ) - - Total Financial Asset balances affected by IFRS 9, Reclassifications and 1,478,654 0 24 1,478,678 Impairment The following table provides an overview of IAS 39 allowance for all debt instruments that are measured at amortized costs or fair value through other comprehensive income and off balance sheet lending commitments, including financial guarantees (referred to as On- and Off-Balance Sheet positions in the table below) as of December 31, 2017 to the IFRS 9 expected credit loss allowance as of January 1, 2018. in € m. IAS 39 Changes due to Changes due to IFRS 9 Fair Value through profit or loss From available for sale (IAS 39) - - - - From amortized cost (IAS 39) - - - - To amortized cost (IFRS 9) - - - - To fair value through other comprehensive income (IFRS 9) - - - - Total Fair Value through Profit or Loss - - - - Fair Value through other comprehensive income From available for sale (IAS 39) - - 12 12 From amortized cost (IAS 39) - - 0 0 From fair value through profit or loss (IAS 39) - - - - To amortized cost (IFRS 9) - - - - To fair value through profit or loss (IFRS 9) - - - - Total Fair Value through Other Comprehensive Income - - 12 12 Amortized cost From amortized cost (IAS 39) 3,856 - 737 4,594 From available for sale (IAS 39) - - - - From fair value through profit or loss (IAS 39) - - 9 9 To fair value through other comprehensive income (IFRS 9) 10 (10 ) - - To fair value through profit or loss (IFRS 9) 55 (55 ) - - Total Amortized Cost 3,921 (65 ) 746 4,603 Total On Balance Sheet Positions affected by IFRS 9 ECL Model 3,921 (65 ) 758 4,615 Off Balance Sheet 285 - (6 ) 280 Total On- and Off Balance Sheet Positions affected by IFRS 9 ECL Model 4,207 (65 ) 753 4,894 IFRS 15 Revenue from Contracts with Customers On January 1, 2018, the Group adopted IFRS 15, “Revenue from Contracts with Customers” (including the amendments issued subsequently to the original issuance of IFRS 15), which specifies how and when revenue is recognized, but does not impact income recognition related to financial instruments in scope of IFRS 9. The new requirements replace several other IFRS standards and interpretations that governed revenue recognition under IFRS and provides a single, principles-based five-step model to be applied to all contracts with customers. The Standard also requires entities to provide users of financial statements with more informative and relevant disclosures. The Group has exercised the initial application relief and applied the cumulative effect method, which allowed the Group to apply IFRS 15 to reporting periods beginning on or after January 1, 2018. IFRS 15 did not have a material impact on the Group’s consolidated financial statements. The impact has been limited to the presentation of enhanced disclosures, including a disaggregation of the Group’s revenue types prior to deduction of associated expenses. New Accounting Pronouncements The following accounting pronouncements were not effective as of December 31, 2018 and therefore have not been applied in preparing these financial statements. IFRS 3 Business Combinations In October 2018, the IASB issued amendments to IFRS 3 “Business Combinations”. These amendments clarify the determination of whether an acquisition made is of a business or a group of assets. The amended definition of a business emphasises that the output of a business is to provide goods and services to customers, whereas the previous definition focused on returns in the form of dividends, lower costs or other economic benefits to investors and others. Distinguishing between a business and a group of assets is important because an acquirer recognises goodwill only when acquiring a business. The amendments will be effective for annual periods beginning on or after January 1, 2020 with early adoption permitted. The amendments will not have a material impact on the Group’s consolidated financial statements. These amendments have yet to be endorsed by the EU. IFRS 16 Leases In January 2016, the IASB issued IFRS 16, “Leases”, which introduces a single lessee accounting model and requires a lessee to recognize assets and liabilities for all leases with a term of more than 12 months, unless the underlying asset is of low value. A lessee is required to recognize a right-of-use asset representing its right to use the underlying leased asset and a lease liability representing its obligation to make lease payments. There will be only minor changes to the current accounting for lessors. The standard also requires entities to provide users of financial statements with more informative and relevant disclosures. IFRS 16 is effective for annual periods beginning on or after January 1, 2019. The standard has been endorsed by the EU. The Group has analyzed the impact of the initial application of IFRS 16 in a Group-wide implementation program. The majority of leases are for land and buildings; other categories are company cars and technical/IT equipment. The Group will apply the practical expedient in IFRS 16 to contracts that were identified as leases applying IAS 17, “Leases”, and IFRIC 4, “Determining whether an Arrangement contains a Lease”, on transition. T he Group has chosen to apply the modified retrospective transition approach, without restatement of comparative figures. Under the modified retrospective approach, the Group can choose on a lease by lease basis to either (i) measure the right-of-use asset at the same amount as the lease liability, or (ii) to measure the right-of-use asset retrospectively using the transition discount rate. For approach (ii), the resulting difference between the right-of-use asset and the lease liability will be recognized as an adjustment to the opening balance of retained earnings on transition. On initial application the Group will apply approach (i) to leases classified as operating leases under IAS 17 except for larger property leases where the Group will elect to apply approach (ii) which is expected to result in an adjustment to the opening balance of retained earnings on transition of € 150 million, taking deferred taxes into account. In addition, provisions previously recognized for onerous operating leases as well as accrued operating liabili-ties will be derecognized upon transition, and the value of the right-of-use assets will be reduced by that same amount. The expected impact upon adoption will result in an approximately € 3.3 billion and € 3.5 billion increase in the balance sheet related to the recognition of right of use assets and corresponding liabilities, respectively. This will lead to an overall reduction in the Group’s total shareholders’ equity of € 150 million, taking deferred taxes into account. These estimates may change as the Group finalizes its implementation project in the first quarter of 2019. IFRS 17 Insurance Contracts In May 2017, the IASB issued IFRS 17, “Insurance Contracts”, which establishes the principles for the recognition, measurement, presentation and disclosure of insurance contracts within the scope of the standard. IFRS 17 replaces IFRS 4 which has given companies dispensation to carry on accounting for insurance contracts using national accounting standards, resulting in a multitude of different approaches. IFRS 17 solves the comparison problems created by IFRS 4 by requiring all insurance contracts to be accounted for in a consistent manner, benefiting both investors and insurance companies. Insurance obligations will be accounted for using current values – instead of historical cost. The information will be updated regularly, providing more useful information to users of financial statements. IFRS 17 is effective for annual periods beginning on or after January 1, 2021. Based on the Group’s current business activities it is expected that IFRS 17 will not have a material impact on the Group’s consolidated financial statements. The standard has yet to be endorsed by the EU. Improvements to IFRS 2015-2017 Cycles In December 2017, the IASB issued amendments to multiple IFRS standards, which resulted from the IASB’s annual improvement project for the 2015-2017 cycles. This comprises amendments that result in accounting changes for presentation, recognition or measurement purposes as well as terminology or editorial amendments related to IFRS 3 “Business combinations”, IAS 12 “Income taxes” and “IAS 23 Borrowing costs”. The amendments will be effective for annual periods beginning on or after January 1, 2019, with early adoption permitted. The Group expects that the amendments will not have a material impact on the Group’s consolidated financial statements. The amendments have yet to be endorsed by the EU. |
Acquisitions and Dispositions
Acquisitions and Dispositions | 12 Months Ended |
Dec. 31, 2018 | |
Acquisitions and Dispositions [Abstract] | |
Acquisitions and Dispositions [text block] | Acquisitions and Dispositions Business Combinations During the years 2018, 2017 and 2016, the Group did not undertake any acquisitions accounted for as business combinations. Acquisitions and Dispositions of Noncontrolling Interests while Retaining Control Deutsche Bank’s Ownership Interest following I nitial P ublic O ffering of DWS shares Deutsche Bank announced on February 26, 2018 its intention to proceed with the planned Initial Public Offering (“IPO”) of its subsidiary DWS Group GmbH & Co. KGaA (“DWS”) on the regulated market of the Frankfurt Stock Exchange. The IPO consisted purely of the sale of existing shares directly held by DWS’s sole shareholder, DB Beteiligungs Holding GmbH, a 100 % subsidiary of Deutsche Bank AG. The total placement volume is comprised of 44.5 million DWS shares including over-allotments (greenshoe) of 4.5 million shares. As announced on March 22, 2018, the placement price for shares offered in the IPO had been set at € 32.50 per share. As of March 31, 2018, 40.0 million DWS shares were sold to new investors. Based on the placement price, the market capitalization of DWS amounted to € 6.5 billion. Deutsche Bank received gross proceeds of € 1.3 billion from the placement of DWS shares, resulting in investors other than Deutsche Bank holding 20.0 % of DWS. Subsequently, Deutsche Bank remains DWS’s majority shareholder post IPO. The final carrying amount of DWS’s net assets in the Group’s consolidated financial statements on the date of the IPO was € 6.0 billion. This includes the net assets from the U.S. Asset Management business transferred to DWS on April 2, 2018 which was subject to contractually binding agreements between the Group entities involved and constituted an element of the offering. The following table summarizes the effect of changes in Deutsche Bank’s ownership interest in DWS and their impact on shareholders’ equity at the end of the reporting period: Deutsche Bank’s Ownership Interest in DWS and Impact on Shareholders’ Equity in € 2018 Deutsche Bank’s ownership interest at the time of the IPO 5,991 Net decrease in Deutsche Bank’s ownership interest (1,229 ) Deutsche Bank’s share of net income or loss 239 Deutsche Bank’s share of other comprehensive income 149 Deutsche Bank’s share of other equity changes 37 Deutsche Bank’s ownership interest in DWS at the end of the reporting period 5,187 Excess amount from the IPO 73 Total effect on shareholders' equity from a change in Deutsche Bank's ownership interest in DWS, at the end of the reporting period 5,260 By the end of the stabilization period (April 20, 2018), out of the total greenshoe volume of 4.5 million shares, 1,018,128 shares were allocated to new shareholders, which increased the proportion of outside shareholders in DWS to 20.51 %. Dispositions During 2018, 201 7 and 201 6 , the Group finalized several dispositions of subsidiaries/businesses. These disposals are mainly of businesses the Group had previously classified as held for sale . Accordingly, dispositions in 2018 included the partial sale of the Polish PCB business, while disposals in 2017 contained the Group’s Argentine subsidiary Deutsche Bank S.A. and Sal. Oppenheim’s Luxembourg-based fund administration and custody business . Divestitures in 2016 comprised the sale of Abbey Life and Maher Terminals Port Elizabeth. For more detail on these transactions, please refer to Note 26 “Non-Current Assets and Disposal Groups Held for Sale” . The total consideration received for these dispositions (thereof in cash) in 2018, 201 7 and 201 6 was € 398 million (cash € 164 million ) , € 129 million (cash) and € 2.0 billion (cash) , respectively. The table below shows the assets and liabilities that were included in these disposals. in € m. 2018 2017 2016 Cash and cash equivalents 50 47 0 All remaining assets 4,619 848 14,858 Total assets disposed 4,669 895 14,858 Total liabilities disposed 6,035 814 12,250 |
Business Segments and Related I
Business Segments and Related Information | 12 Months Ended |
Dec. 31, 2018 | |
Business Segments and Related Information [Abstract] | |
Disclosure of entity's operating segments [text block] | Business Segments and Related Information The Group’s segmental information has been prepared in accordance with the “management approach”, which requires presentation of the segments on the basis of the internal management reports of the entity which are regularly reviewed by the chief operating decision maker, which is the Deutsche Bank Management Board, in order to allocate resources to a segment and to assess its financial performance. Business Segments The Group’s segment reporting follows the organizational structure as reflected in its internal management reporting systems, which are the basis for assessing the financial performance of the business segments and for allocating resources to the business segments. Generally, restatements due to changes in the organizational structure were implemented in the presentation of prior period comparables if they were considered in the Group’s management reporting systems. Our business operations are organized under the divisional structure comprising the following corporate divisions: Corporate & Investment Bank (“CIB”), Private & Commercial Bank (“PCB”), Asset Management (“AM”) . The key changes compared to Deutsche Bank’s previously reported segmental information are outlined below. In the first quarter of 2018, the definition of CIB’s “ Sales & Trading (FIC) ” revenue category has been updated to improve alignment with peer reporting and enable more relevant comparisons. As a result, the category “Financing” ceased to exist and the majority of revenues previously reported under that category, for the year 2017 more than 95 % , has been moved into the “ Sales & Trading (FIC) ” category and the remainder into “Other”. In the current quarter revenues related to Listed Derivatives & Clearing have been transferred from Sales & Trading (FIC) to Sales & Trading (Equities) to better align to the priorities of the business. The presentation of comparison periods has been adjusted accordingly . In May 2018, Deutsche Bank successfully merged Deutsche Bank Privat- und Geschäftskunden AG and Postbank into DB Privat- und Firmenkundenbank AG. After the agreement to sell our retail business in Portugal and agreement for the partial sale of the Polish retail business in the first quarter of 2018, revenues from these Private and Commerc i al Clients International (PCCI) businesses, as well as Hua Xia Bank and the PCS disposed business are reported in a separate category to better reflect our exited businesses. As a result, since the second quarter of 2018, PCB ’s revenues are now reported as follows : Private and Commercial Business (Germany), Private and Commercial Business (International), which covers operations in Belgium, India, Italy and Spain, Wealth Management (Global), and Exited businesses, which covers operations in Poland and Portugal as well as Private Client Services (PCS) and Hua Xia Bank in historical periods. The presentation of comparison periods has been adjusted accordingly . In March 2017, Deutsche Bank announced its intention to pursue an initial public offering (IPO) of Deutsche Asset Man-agement, which was completed in March 2018. Since March 23, 2018, shares of the holding company DWS Group GmbH & Co. KGaA are listed on the Frankfurt stock exchange. The corporate division “Deutsche Asset Management” was renamed “Asset Management” during the first quarter 2018 . Deutsche Bank remains DWS’s majority shareholder post IPO . From 2018 onwards Group Infrastructure expenses are allocated to the corporate divisions based on Plan. Any delta between Plan and Actual allocations is captured centrally within “Corporate & Other”. Infrastruc ture expenses relating to share holder activities as defined in the OECD Transfer Pricing Guidelines, i.e. costs for specific group functions, are no longer allocated to segments, but instead hel d centrally and reported under “Corporate & Other (C&O)” , formerly “ Consolidation & Adjustments (C&A) ” . T hese infrastructure expenses amounted to € 422 million in 2018 and € 371 million in 2017. All categories previously reported under C&A, including valuation and timing differences as well as treasury-related and corporate items not allocated to the divisions, remain in C&O . The presentation of comparison periods has been adjusted accordingly . From 2017 onwards, Non-Core Operations Unit (NCOU) ceased to exist as a standalone division. The remaining legacy assets as of December 31, 2016 are now managed by the corresponding operating segments, predominately in Corporate & Investment Bank and Private & Commercial Bank. Measurement of Segment Profit or Loss Segment reporting requires a presentation of the segment results based on management reporting methods, including a reconciliation between the results of the business segments and the consolidated financial statements, which is presented in the “Management Report: Operating and Financial Review: Deutsche Bank Group: Corporate Divisions: Corporate and Other”. The information provided about each segment is based on internal management reporting about segment profit or loss, assets and other information which is regularly reviewed by the chief operating decision maker. Segment assets are presented in the Group’s internal management reporting based on a consolidated view, i.e., the amounts do not include intersegment balances . Non-IFRS compliant accounting methods are rarely used in the Group’s management reporting and represent either valuation or classification differences. The largest valuation differences relate to measurement at fair value in management reporting versus measurement at amortized cost under IFRS and to the recognition of trading results from own shares in revenues in management reporting (mainly in CIB ) and in equity under IFRS. The major classification difference relates to noncontrolling interest, which represents the net share of minority shareholders in revenues, provision for credit losses, noninterest expenses and income tax expenses. Noncontrolling interest is reported as a component of pre-tax income for the businesses in management reporting (with a reversal in C& O ) and a component of net income appropriation under IFRS. Since the Group’s business activities are diverse in nature and its operations are integrated, certain estimates and judgments have been made to apportion revenue and expense items among the business segments. The management reporting systems allocate the Group’s external net interest income according to the value of funding consumed or provided by each business s egment’s activities, with transfer pricing referencing the Group’s access to financing in the wholesale markets. Furthermore, to retain comparability with those competitors that have legally independent units with their own equity funding, the Group allocates a net notional interest benefit on its consolida ted capital, in line with each segment’s proportion of a verage s hareholders’ e quity . Management uses certain measures for equity and related ratios as part of its internal reporting system because it believes that these measures provide it with a useful indication of the financial performance of the business segments. The Group discloses such measures to provide investors and analysts with further insight into how management operates the Group’s businesses and to enable them to better understand the Group’s results. These measures include: Allocation of Average Shareholders’ Equity - Since 2017, Shareholders’ equity is fully allocated to the Group’s segments based on the regulatory capital demand of each segment and is no longer capped at the amount of shareholders’ equity required to meet the externally communicated targets for the Group’s Common Equity Tier 1 ratio and the Group’s Leverage ratio. Regulatory capital demand reflects the combined contribution of each segment to the Groups’ Common Equity Tier 1 ratio, the Groups’ Leverage ratio and the Group’s Capital Loss under Stress . Contributions in each of the three dimensions are weighted to reflect their relative importance and level of constraint for the Group. Contributions to the Common Equity Tier 1 ratio and the Leverage ratio are measured though Risk-Weighted Assets (RWA) and Leverage Ratio Exposure (LRE) assuming full implementation of CRR/CRD 4 rules. The Group’s Capital Loss under Stress is a measure of the Group’s overall economic risk exposure under a defined stress scenario. Goodwill and other intangibles continue to be directly attributed to the Group’s segments in order to allow the determination of allocated tangible shareholders’ equity and the respective returns. Shareholders’ equity and tangible shareholders’ equity is allocated on a monthly basis and averaged across quarters and for the full year. All reported periods in 201 6 and 201 7 have been restated. Segment average shareholders' equity in December 201 6 represents the spot values for the period end. The difference between the spot values of the segments and the average Group amount is captured in C&O. For purposes of the 2017 average shareholders’ equity allocation the Non-Core Operations Unit (NCOU) balances from year-end 2016 have been allocated to Corporate & Other (C&O ) as Non-Core Operations Unit (NCOU) has ceased to exist as a separate corporate division from 2017 onwards. Net interest income as a component of net revenue, income (loss) before income taxes and related ratios is presented on a fully taxable-equivalent basis for U.S. tax-exempt securities for the Corporate & Investment Bank. This enables management to measure performance of taxable and tax-exempt securities on a comparable basis. This presentation resulted in an increase in Corporate & Investment Bank net interest income of € 42.4 million for full year 2018 (€ 113.6 million for full year 2017, € 126.4 million for full year 2016 ). This increase is offset in Group c onsolidated figures through a reversal in C& O . The tax rate used in determining the fully taxable-equivalent net interest income in respect of the majority of the US tax-exempt securities is 21 % for 2018 and 35 % for 2017 and 2016 . Segmental Results of Operations The following table s present the results of the Group’s business segments, including the reconciliation to the consolidated results of operations under IFRS. 2018 in € m. Corporate & Private & Asset Non-Core Corporate & Total Net revenues 1 13,046 10,158 2,186 – (73 ) 25,316 Provision for credit losses 120 406 (1 ) – 0 525 Noninterest expenses Compensation and benefits 3,970 4,001 787 – 3,055 11,814 General and administrative expenses 8,115 4,867 929 – (2,624 ) 11,286 Policyholder benefits and claims 0 0 0 – 0 0 Impairment of goodwill and other intangible assets 0 0 0 – 0 0 Restructuring activities 287 55 19 – 0 360 Total noninterest expenses 12,372 8,923 1,735 – 431 23,461 Noncontrolling interests 24 (0 ) 85 – (109 ) 0 Income (loss) before income taxes 530 829 367 – (396 ) 1,330 Cost/income ratio 95 % 88 % 79 % – N/M 93 % Assets 2 988,531 343,704 10,030 – 5,872 1,348,137 Additions to non-current assets 514 516 43 – 575 1,647 Risk-weighted assets 3 236,306 87,709 10,365 – 16,053 350,432 CRD 4 leverage exposure measure (spot value at 892,653 354,584 5,044 – 20,644 1,272,926 Average shareholders' equity 43,427 14,514 4,669 – 0 62,610 Post-tax return on average tangible shareholders’ equity 4 1 % ` 5 % 18 % – N/M 1 % Post-tax return on average shareholders’ equity 4 1 % 4 % 6 % – N/M 0 % 1 includes: Net interest income 3,574 6,077 (52 ) – 3,592 13,192 Net income (loss) from equity method investments 170 2 41 – 6 219 2 includes: Equity method investments 556 78 240 – 5 879 N/M – Not meaningful 3 Risk - weighted assets and capital ratios are based upon CRR/CRD 4 fully-loaded. 4 The post-tax return on average tangible shareholders’ equity and average shareholders’ equity at the Group level reflects the reported effective tax rate for the Group, which was 74 % for the year ended December 31, 2018. For the post-tax return on average tangible shareholders’ equity and average shareholders’ equity of the segments, the Group effective tax rate was adjusted to exclude the impact of permanent differences not attributed to the segments, so that the segment tax rates were 28 % for the year ended December 31, 2018. 2017 in € m. Corporate & Private & Asset Non-Core Corporate & Total Net revenues 1 14,227 10,178 2,532 – (489 ) 26,447 Provision for credit losses 213 313 (1 ) – (0 ) 525 Noninterest expenses Compensation and benefits 4,364 4,027 812 – 3,050 12,253 General and administrative expenses 8,441 5,012 978 – (2,458 ) 11,973 Policyholder benefits and claims 0 0 0 – 0 0 Impairment of goodwill and other intangible assets 6 12 3 – 0 21 Restructuring activities 81 360 6 – 0 447 Total noninterest expenses 12,892 9,411 1,799 – 593 24,695 Noncontrolling interests 26 (12 ) 1 – (16 ) 0 Income (loss) before income taxes 1,096 465 732 – (1,066 ) 1,228 Cost/income ratio 91 % 93 % 71 % – N/M 93 % Assets 2 1,127,028 333,069 8,050 – 6,586 1,474,732 Additions to non-current assets 125 551 60 – 1,067 1,803 Risk-weighted assets 3 231,574 87,472 8,432 – 16,734 344,212 CRD 4 leverage exposure measure (spot value at 1,029,946 344,087 2,870 – 17,983 1,394,886 Average shareholders' equity 44,197 14,943 4,687 – 99 63,926 Post-tax return on average tangible shareholders’ equity 4 2 % 2 % 56 % – N/M (1) % Post-tax return on average shareholders’ equity 4 2 % 2 % 10 % – N/M (1) % 1 includes: Net interest income 4,104 5,875 (19 ) – 2,418 12,378 Net income (loss) from equity method investments 81 3 44 – 9 137 2 includes: Equity method investments 553 91 211 – 10 866 N/M – Not meaningful 3 Risk-weighted assets and capital ratios are based upon CRR/CRD 4 fully-loaded. 4 The post-tax return on average tangible shareholders’ equity and average shareholders’ equity at the Group level reflects the reported effective tax rate for the Group, which was 160 % for the year ended December 31, 2017. For the post-tax return on average tangible shareholders’ equity and average shareholders’ equity of the segments, the Group effective tax rate was adjusted to exclude the impact of permanent differences not attributed to the segments, so that the segment tax rates were 33 % for the year ended December 31, 2017. 2016 in € m. Corporate & Private & Asset Non-Core Corporate & Total Net revenues 1 16,764 11,090 3,015 (382 ) (473 ) 30,014 Provision for credit losses 816 439 1 128 (0 ) 1,383 Noninterest expenses Compensation and benefits 4,062 4,075 737 68 2,931 11,874 General and administrative expenses 9,280 4,888 1,026 2,659 (2,398 ) 15,454 Policyholder benefits and claims 0 0 374 0 0 374 Impairment of goodwill and other intangible assets 285 0 1,021 (49 ) (0 ) 1,256 Restructuring activities 299 142 47 4 (7 ) 484 Total noninterest expenses 13,926 9,104 3,205 2,682 525 29,442 Noncontrolling interests 49 0 0 (4 ) (46 ) 0 Income (loss) before income taxes 1,973 1,547 (190 ) (3,187 ) (952 ) (810 ) Cost/income ratio 83 % 82 % 106 % N/M N/M 98 % Assets 2 1,201,894 329,869 12,300 5,523 40,959 1,590,546 Additions to non-current assets 22 480 1 0 1,517 2,019 Risk-weighted assets 3 237,596 86,082 8,960 9,174 15,706 357,518 CRD 4 leverage exposure measure (spot value at 954,203 342,424 3,126 7,882 40,018 1,347,653 Average shareholders' equity 40,312 14,371 4,460 690 2,249 62,082 Post-tax return on average tangible shareholders’ equity 4 3 % 8 % 71 % N/M N/M (3) % Post-tax return on average shareholders’ equity 4 3 % 7 % (3) % N/M N/M (2) % 1 includes: Net interest income 6,314 6,201 326 142 1,724 14,707 Net income (loss) from equity method investments 138 5 44 269 (1 ) 455 2 includes: Equity method investments 698 23 203 98 4 1,027 N/M – Not meaningful 3 Risk- weighted assets and capital ratios are based upon CRR/CRD 4 fully-loaded . 4 The post-tax return on average tangible shareholders’ equity and average shareholders’ equity at the Group level reflects the reported effective tax rate for the Group, which was (67) % for the year ended December 31, 2016. For the post-tax return on average tangible shareholders’ equity and average shareholders’ equity of the segments, the Group effective tax rate was adjusted to exclude the impact of permanent differences not attributed to the segments, so that the segment tax rates were 35 % for the year ended December 31, 2016. Corporate & Investment Bank 2018 increase (decrease) 2017 increase (decrease) in € m. 2018 2017 2016 in € m. in % in € m. in % Net revenues Global Transaction Banking 3,834 3,917 4,419 (83 ) (2 ) (502 ) (11 ) Equity Origination 362 396 405 (34 ) (9 ) (9 ) (2 ) Debt Origination 1,081 1,327 1,393 (247 ) (19 ) (66 ) (5 ) Advisory 493 508 495 (16 ) (3 ) 13 3 Origination and Advisory 1,935 2,232 2,292 (296 ) (13 ) (60 ) (3 ) Sales & Trading (Equity) 1,957 2,233 2,751 (276 ) (12 ) (518 ) (19 ) Sales & Trading (FIC) 5,361 6,447 7,066 (1,087 ) (17 ) (619 ) (9 ) Sales & Trading 7,317 8,680 9,817 (1,363 ) (16 ) (1,137 ) (12 ) Other (40 ) (601 ) 235 561 (93 ) (836 ) N/M Total net revenues 13,046 14,227 16,764 (1,181 ) (8 ) (2,537 ) (15 ) Provision for credit losses 120 213 816 (94 ) (44 ) (603 ) (74 ) Noninterest expenses Compensation and benefits 3,970 4,364 4,062 (393 ) (9 ) 302 7 General and administrative expenses 8,115 8,441 9,280 (326 ) (4 ) (839 ) (9 ) Impairment of goodwill and other intangible assets 0 6 285 (6 ) N/M (279 ) (98 ) Restructuring activities 287 81 299 205 N/M (218 ) (73 ) Total noninterest expenses 12,372 12,892 13,926 (520 ) (4 ) (1,034 ) (7 ) Noncontrolling interests 24 26 49 (2 ) (7 ) (23 ) (46 ) Income (loss) before income taxes 530 1,096 1,973 (566 ) (52 ) (877 ) (44 ) Cost/income ratio 95 % 91 % 83 % N/M 4 ppt N/M 8 ppt Assets¹ 988,531 1,127,028 1,201,894 (138,497 ) (12 ) (74,866 ) (6 ) Risk-weighted assets² 236,306 231,574 237,596 4,733 2 (6,022 ) (3 ) Average shareholders' equity³ 43,427 44,197 40,312 (770 ) (2 ) 3,885 10 Post-tax return on average tangible shareholders’ equity 1 % 2 % 3 % N/M (1) ppt N/M (2) ppt Post-tax return on average shareholders' equity 1 % 2 % 3 % N/M (1) ppt N/M (2) ppt N/M – Not meaningful 1 Segment assets represent consolidated view, i.e. , the amounts do not include intersegment balances. 2 Risk- weighted assets and capital ratios are based upon CRR/CRD 4 fully-loaded. 3 See “Measurement of Segment Profit or Loss” above for a description of how average shareholders' equity is allocated to the divisions. Private & Commercial Bank 2018 increase (decrease) 2017 increase (decrease) in € m. 2018 2017 2016 in € m. in % in € m. in % Net revenues: Private and Commercial Business (Germany) 6,802 6,583 6,873 220 3 (290 ) (4 ) Private and Commercial Business (International) 1 1,439 1,455 1,466 (16 ) (1 ) (11 ) (1 ) Wealth Management (Global) 1,746 2,021 1,720 (274 ) (14 ) 301 18 Exited businesses 2 170 119 1,031 51 42 (912 ) (88 ) Total net revenues 10,158 10,178 11,090 (20 ) (0 ) (912 ) (8 ) Of which: Net interest income 6,077 5,875 6,201 202 3 (326 ) (5 ) Commissions and fee income 3,143 3,367 3,395 (224 ) (7 ) (28 ) (1 ) Remaining income 937 935 1,494 2 0 (558 ) (37 ) Provision for credit losses 406 313 439 93 30 (126 ) (29 ) Noninterest expenses: Compensation and benefits 4,001 4,027 4,075 (26 ) (1 ) (47 ) (1 ) General and administrative expenses 4,867 5,012 4,888 (145 ) (3 ) 124 3 Impairment of goodwill and other intangible assets 0 12 0 (12 ) N/M 12 N/M Restructuring activities 55 360 142 (305 ) (85 ) 218 154 Total noninterest expenses 8,923 9,411 9,104 (488 ) (5 ) 307 3 Noncontrolling interests (0 ) (12 ) 0 12 (100 ) (12 ) N/M Income (loss) before income taxes 829 465 1,547 363 78 (1,081 ) (70 ) Cost/income ratio 88 % 92 % 82 % N/M (5) ppt N/M 10 ppt Assets 3 343,704 333,069 329,869 10,635 3 3,200 1 Risk-weighted assets 4 87,709 87,472 86,082 237 0 1,390 2 Average shareholders' equity 5 14,514 14,943 14,371 (429 ) (3 ) 572 4 Post-tax return on average tangible shareholders’ equity 5 % 2 % 8 % N/M 2 ppt N/M (6) ppt Post-tax return on average shareholders' equity 4 % 2 % 7 % N/M 2 ppt N/M (5) ppt N/M – Not meaningful 1 Covers operations in Belgium, India, Italy and Spain . 2 Covers operations in Poland and Portugal as well as Private Client Services (PCS) and Hua Xia in historical periods . 3 Segment assets represent consolidated view, i.e. , the amounts do not include intersegment balances. 4 Risk- weighted assets and capital ratios are based upon CRR/CRD 4 fully-loaded. 5 See “Measurement of Segment Profit or Loss” above for a description of how average shareholders' equity is allocated to the divisions . Asset Management 2018 increase (decrease) 2017 increase (decrease) in € m. 2018 2017 2016 in € m. in % in € m. in % Net revenues Management Fees 2,115 2,247 2,190 (132 ) (6 ) 57 3 Performance and transaction fees 91 199 220 (109 ) (55 ) (21 ) (9 ) Other revenues (20 ) 86 209 (106 ) N/M (123 ) (59 ) Mark-to-market movements on policyholder positions 0 0 396 0 N/M (396 ) N/M Total net revenues 2,186 2,532 3,015 (346 ) (14 ) (483 ) (16 ) Provision for credit losses (1 ) (1 ) 1 (0 ) 67 (1 ) N/M Noninterest expenses Compensation and benefits 787 812 737 (25 ) (3 ) 75 10 General and administrative expenses 929 978 1,026 (49 ) (5 ) (48 ) (5 ) Policyholder benefits and claims 0 0 374 (0 ) N/M (374 ) (100 ) Impairment of goodwill and other intangible assets 0 3 1,021 (3 ) N/M (1,018 ) (100 ) Restructuring activities 19 6 47 13 N/M (41 ) (88 ) Total noninterest expenses 1,735 1,799 3,205 (64 ) (4 ) (1,405 ) (44 ) Noncontrolling interests 85 1 0 83 N/M 1 N/M Income (loss) before income taxes 367 732 (190 ) (364 ) (50 ) 922 N/M Cost/income ratio 79 % 71 % 106 % N/M 8 ppt N/M (35) ppt Assets¹ 10,030 8,050 12,300 1,980 25 (4,250 ) (35 ) Risk-weighted assets² 10,365 8,432 8,960 1,932 23 (528 ) (6 ) Average shareholders' equity³ 4,669 4,687 4,460 (19 ) (0 ) 227 5 Post-tax return on average tangible shareholders’ equity 18 % 56 % 71 % N/M (38) ppt N/M (15) ppt Post-tax return on average shareholders' equity 6 % 10 % (3) % N/M (5) ppt N/M 13 ppt N/M – Not meaningful 1 Segment assets represent consolidated view, i.e. , the amounts do not include intersegment balances. 2 Risk- weighted assets and capital ratios are based upon CRR/CRD 4 fully-loaded. 3 See “Measurement of Segment Profit or Loss” above for a description of how average shareholders' equity is allocated to the divisions . Non-Core Operations Unit 2018 increase (decrease) 2017 increase (decrease) in € m. 2018 2017 2016 in € m. in % in € m. in % Net revenues – – (382 ) 0 N/M 382 N/M thereof: Net interest income and net gains (losses) on financial – – (1,307 ) 0 N/M 1,307 N/M Provision for credit losses – – 128 0 N/M (128 ) N/M Noninterest expenses Compensation and benefits – – 68 0 N/M (68 ) N/M General and administrative expenses – – 2,659 0 N/M (2,659 ) N/M Policyholder benefits and claims – – 0 0 N/M 0 N/M Impairment of goodwill and other intangible assets – – (49 ) 0 N/M 49 N/M Restructuring activities – – 4 0 N/M (4 ) N/M Total noninterest expenses – – 2,682 0 N/M (2,682 ) N/M Noncontrolling interests – – (4 ) 0 N/M 4 N/M Income (loss) before income taxes – – (3,187 ) 0 N/M 3,187 N/M Assets¹ – – 5,523 0 N/M (5,523 ) N/M Risk-weighted assets² – – 9,174 0 N/M (9,174 ) N/M Average shareholders' equity³ – – 690 0 N/M (690 ) N/M N/M – Not meaningful 1 Segment assets represent consolidated view, i.e., the amounts do not include intersegment balances. 2 Risk-weighted assets and capital ratios are based upon CRR/CRD 4 fully-loaded. 3 See “Measurement of Segment Profit or Loss” above for a description of how average shareholders' equity is allocated to the divisions . Co rporate & Other (C&O) 2018 increase (decrease) 2017 increase (decrease) in € m. 2018 2017 2016 in € m. in % in € m. in % Net revenues (73 ) (489 ) (473 ) 416 (85 ) (17 ) 4 Provision for credit losses 0 (0 ) (0 ) 1 N/M 0 (19 ) Noninterest expenses Compensation and benefits 3,055 3,050 2,931 5 0 119 4 General and administrative expenses (2,624 ) (2,458 ) (2,398 ) (166 ) 7 (59 ) 2 Policyholder benefits and claims 0 0 0 0 N/M 0 N/M Impairment of goodwill and other intangible assets 0 0 (0 ) 0 N/M 0 N/M Restructuring activities 0 0 (7 ) (0 ) (85 ) 7 N/M Total noninterest expenses 431 593 525 (161 ) (27 ) 67 13 Noncontrolling interests (109 ) (16 ) (46 ) (93 ) N/M 30 (65 ) Income (loss) before income taxes (396 ) (1,066 ) (952 ) 670 (63 ) (114 ) 12 Assets 1 5,872 6,586 40,959 (714 ) (11 ) (34,373 ) (84 ) Risk-weighted assets 2 16,053 16,734 15,706 (681 ) (4 ) 1,028 7 Average shareholders' equity 0 99 2,249 (99 ) N/M (2,150 ) (96 ) N/M – Not meaningful 1 Assets in C&O reflect residual Treasury assets not allocated to the business segments as well as Corporate assets, such as deferred tax assets and central clearing accounts, outside the management responsibility of the business segments. 2 Risk weighted assets are based upon CRR/CRD 4 fully-loaded. Risk-weighted assets in C&O reflect Treasury and C orporate assets outside the management responsibility of the business segments, primarily the Group’s deferred tax assets. Entity-Wide Disclosures The Group’s Entity-Wide Disclosures include net revenues from internal and external counterparties. Excluding revenues from internal counterparties would require disproportionate IT investment and is not in line with the Bank's management approach. For detail on our Net Revenue Components please see “Management Report: Operating and Financial Review: Results of Operations: Corporate Divisions”. The following table presents total net revenues (before provisions for credit losses) by geographic area for t he years ended December 31, 2018, 2017 and 2016 , respectively. The information presented for CIB, PCB, AM and NCOU has been classified based primarily on the location of the Group’s office in which the revenues are recorded. The information for C& O is presented on a global level only, as management responsibility for C& O is held centrally. in € m. 2018 2017 2016 Germany: Corporate & Investment Bank 1,400 1,503 1,924 Private & Commercial Bank 7,342 7,225 7,571 Asset Management 985 1,009 888 Non-Core Operations Unit 0 0 221 Total Germany¹ 9,727 9,737 10,604 UK: Corporate & Investment Bank 3,338 3,818 4,298 Private & Commercial Bank 26 34 83 Asset Management 294 434 836 Non-Core Operations Unit 0 0 (322 ) Total UK 3,659 4,286 4,895 Rest of Europe, Middle East and Africa: Corporate & Investment Bank 1,124 1,268 1,545 Private & Commercial Bank 1,901 2,037 2,360 Asset Management 379 465 497 Non-Core Operations Unit 0 0 23 Total Rest of Europe, Middle East and Africa 3,404 3,770 4,425 Americas (primarily United States): Corporate & Investment Bank 4,671 4,999 5,929 Private & Commercial Bank 362 390 625 Asset Management 413 491 578 Non-Core Operations Unit 0 0 (305 ) Total Americas 5,445 5,881 6,827 Asia/Pacific: Corporate & Investment Bank 2,513 2,639 3,069 Private & Commercial Bank 526 491 451 Asset Management 114 133 216 Non-Core Operations Unit 0 0 1 Total Asia/Pacific 3,154 3,263 3,736 Corporate and Other (73 ) (489 ) (473 ) Consolidated net revenues² 25,316 26,447 30,014 1 All Postbank operations are disclosed as German operations subject to further systems integration 2 Consolidated net revenues comprise interest and similar income, interest expenses and total noninterest income (including net commission and fee income). Revenues are attributed to countries based on the location in which the Group’s booking office is located. The location of a transaction on the Group’s books is sometimes different from the location of the headquarters or other offices of a customer and different from the location of the Group’s personnel who entered into or facilitated the transaction. Where the Group records a transaction involving its staff and customers and other third parties in different locations frequently depends on other considerations, such as the nature of the transaction, regulatory considerations and transaction processing considerations. |
Net Interest Income and Net Gai
Net Interest Income and Net Gains (Losses) on Financial Assets/Liabilities at Fair Value through Profit or Loss | 12 Months Ended |
Dec. 31, 2018 | |
Net Interest Income and Net Gains (Losses) on Financial Assets/Liabilities at Fair Value through Profit or Loss [Abstract] | |
Disclosure of Net Interest Income and Net Gains (Losses) on Financial Assets/Liabilities at Fair Value through Profit or Loss [text block] | Net Interest Income and Net Gains (Losses) on Financial Assets/Liabilities at Fair Value through Profit or Loss Net Interest Income in € m. 2018 2017 2016 Interest and similar income: 1 Interest income on cash and central bank balances 1,860 1,070 433 Interest income on interbank balances (w/o central banks) 223 245 252 Central bank funds sold and securities purchased under resale agreements 221 292 359 Interest income on financial assets available for sale N/A 1,083 1,313 Dividend income on financial assets available for sale N/A 88 205 Loans 12,992 12,004 12,311 Interest income on securities held to maturity N/A 68 67 Other 497 1,406 1,417 Total Interest and similar income from assets at amortised cost 15,793 16,256 16,357 Interest income from assets at fair value through other comprehensive income 1,014 N/A N/A Total interest and similar income not at fair value through profit or loss 16,807 16,256 16,357 Financial assets at fair value through profit or loss 7,985 7,286 8,786 Total interest and similar income 24,793 23,542 25,143 Interest expense: 1 Interest-bearing deposits 3,122 2,833 2,583 Central bank funds purchased and securities sold under repurchase agreements 379 431 255 Other short-term borrowings 139 135 179 Long-term debt 1,981 1,795 1,759 Trust preferred securities 234 413 437 Other 1,923 1,500 1,083 Total interest expense not at fair value through profit or loss 7,778 7,107 6,295 Financial liabilities at fair value through profit or loss 3,822 4,058 4,141 Total interest expense 11,601 11,164 10,436 Net interest income 13,192 12,378 14,707 1 Prior period comparatives for gross interest income and gross interest expense have been restated. The restatements did not affect net interest income. € 550 million and € 493 million for year ended December 31, 2017 and 2016 were restated . Interest income recorded on im paired financial assets was € 61 million and € 63 million for t he years ended December 31, 2017 and 20 16 , respectively. Other interest income for the year ended December 31, 2018 and 2017 included € 93 million and € 116 million which were related to government grants under the Targeted Longer-Term Refinancing Operations II (TLTRO II)-program . Net Gains (Losses) on Financial Assets/Liabilities at Fair Value through Profit or Loss in € m. 2018 2017 2016 Trading income: Sales & Trading (Equity) 407 1,142 588 Sales & Trading (FIC) 2,802 4,058 3,562 Total Sales & Trading 3,209 5,200 4,150 Other trading income (3,157 ) (1,826 ) (3,603 ) Total trading income 52 3,374 547 Net gains (losses) on non-trading financial assets mandatory at fair value through profit or loss: Breakdown by financial assets category: Debt Securities (77 ) N/A N/A Equity Securities 159 N/A N/A Loans and loan commitments 77 N/A N/A Deposits 27 N/A N/A Others non-trading financial assets mandatory at fair value through profit and loss 26 N/A N/A Total net gains (losses) on non-trading financial assets mandatory at fair value through profit or loss: 212 N/A N/A Net gains (losses) on financial assets/liabilities designated at fair value through profit or loss: Breakdown by financial asset/liability category: Securities purchased/sold under resale/repurchase agreements 4 3 (3 ) Securities borrowed/loaned 0 (1 ) 1 Loans and loan commitments 7 (32 ) (109 ) Deposits 19 (30 ) (28 ) Long-term debt 1,118 (398 ) 303 Other financial assets/liabilities designated at fair value through profit or loss (79 ) 10 691 Total net gains (losses) on financial assets/liabilities designated at fair value through profit or loss 1,069 (448 ) 854 Total net gains (losses) on financial assets/liabilities at fair value through profit or loss 1,332 2,926 1,401 Combined Net I nterest Income and Net Gains (Losses) on Financial Assets/L iabilities at F a ir Value through Profit or Loss in € m. 2018 2017 2016 Net interest income 13,192 12,378 14,707 Trading income 1 52 3,374 547 Net gains (losses) on non-trading financial assets mandatory at fair value through profit or loss 212 N/A N/A Net gains (losses) on financial assets/liabilities designated at fair value through profit or loss 1,069 (448 ) 854 Total net gains (losses) on financial assets/liabilities at fair value through profit or loss 1,332 2,926 1,401 Total net interest income and net gains (losses) on financial assets/liabilities at fair value 14,524 15,304 16,108 Sales & Trading (Equity) 1,514 1,516 1,931 Sales & Trading (FIC) 5,027 6,351 7,161 Total Sales & Trading 6,541 7,868 9,092 Global Transaction Banking 1,869 1,932 2,097 Remaining Products (504 ) (1,148 ) (415 ) Corporate & Investment Bank 7,905 8,651 10,774 Private & Commercial Bank 6,283 6,158 6,420 Asset Management (89 ) 30 365 Non-Core Operations Unit N/A N/A (1,307 ) Corporate & Other 425 464 (144 ) Total net interest income and net gains (losses) on financial assets/liabilities at fair value 14,524 15,304 16,108 1 Trading income includes gains and losses from derivatives not qualifying for hedge accounting. The Group’s trading and risk management businesses include significant activities in interest rate instruments and related derivatives. Under IFRS, interest and similar income earned from trading instruments and financial instruments designated at fair value through profit or loss (i.e., coupon and dividend income), and the costs of funding net trading positions, are part of net interest income. The Group’s trading activities can periodically drive income to either net interest income or to net gains (losses) of financial assets/liabilities at fair value through profit or loss depending on a variety of factors, including risk management strategies. The above table combines net interest income and net gains (losses) of financial assets/liabilities at fair value through profit or loss by business division and by product within Corporate & Investment Bank . |
Commission and Fee Income
Commission and Fee Income | 12 Months Ended |
Dec. 31, 2018 | |
Commissions and Fee Income [Abstract] | |
Disclosure of fee and commission income (expense) [text block] | Commissions and Fee Income in € m. 2018 2017 2016 Commission and fee income and expense: Commission and fee income 12,921 14,102 14,999 Commission and fee expense 2,882 3,100 3,255 Net commissions and fee income 10,039 11,002 11,744 In the first quarter of 2018, the Group adopted IFRS 15 “Revenue from Contracts with Customers” which requires disaggregation of revenues prior to the deduction of associated expenses. Disaggregation of revenues by product type and business segment – based on IFRS 15 Dec 31,2018 in € m. Corporate & Investment Bank Private & Asset Corporate & Total Major type of services: Commissions for administration 292 257 22 (3 ) 568 Commissions for assets under management 45 261 3,131 (0 ) 3,436 Commissions for other securities 302 30 2 0 335 Underwriting and advisory fees 1,708 17 (1 ) (28 ) 1,696 Brokerage fees 1,223 933 82 0 2,238 Commissions for local payments 414 1,047 (0 ) (1 ) 1,460 Commissions for foreign commercial business 485 137 0 (1 ) 621 Commissions for foreign currency/exchange business 7 8 0 (0 ) 15 Commissions for loan processing and guarantees 690 291 0 1 981 Intermediary fees 3 478 0 12 493 Fees for sundry other customer services 730 229 117 0 1,076 Total fee and commissions income 5,898 3,688 3,352 (18 ) 12,921 Gross expense (2,882 ) Net fees and commissions 10,039 The Group has applied IFRS 15 to reporting periods beginning on or after January 1, 2018 (as allowed under the cumulative effect method under IFRS 15). Prior to adoption of IFRS 15 the Group disclosed total commissions and fee income and expenses on a gross basis annually. The disaggregation of commissions and fees were reported annually on a net basis. For the years ended 31 December 2017 and 2016, annual commissions and fees were € 4.3 billion and € 4.3 billion respectively for fiduciary activities, € 3.0 billion and € 3.3 billion respectively for brokers’ fees, mark-ups on securities underwriting and other securities activities, and € 3.7 billion and € 4.2 billion respectively for fees for other customer services . As of December 31, 2018, the Group’s balance of receivables from commission and fee income was € 839 million . As of December 31, 2018, the Group’s balance of contract liabilities associated to commission and fee income was € 74 million . Contract liabilities arise from the Group’s obligation to provide future services to a customer for which it has received consideration from the customer prior to completion of the services. The balances of receivables and contract liabilities do not vary significantly from period to period reflecting the fact that they predominately relate to recurring service contracts wit h service periods of less than one year such as monthly current account services and quarterly asset management services. Customer payment in exchange for services provided are generally subject to performance by the Group over the specific service period such that the Group’s right to payment arises at the end of the service period when its performance obligations are fully completed. Therefore no material balance of contract asset is reported . |
Net Gains (Losses) on Financial
Net Gains (Losses) on Financial Assets Available for Sale | 12 Months Ended |
Dec. 31, 2018 | |
Net gains (losses) on financial assets available for sale [Abstract] | |
Disclosure of available for sale financial assets [text block] | Net Gains (Losses) on Financial Assets Available for Sale in € m. 2018 2017 2016 Net gains (losses) on financial assets available for sale: Net gains (losses) on debt securities: N/A 114 229 Net gains (losses) from disposal N/A 115 230 Impairments N/A (1 ) (1 ) Net gains (losses) on equity securities: N/A 219 79 Net gains (losses) from disposal/remeasurement N/A 219 96 Impairments N/A (1 ) (17 ) Net gains (losses) on loans: N/A 37 6 Net gains (losses) from disposal N/A 45 21 Impairments N/A (8 ) (15 ) Reversal of impairments N/A 0 0 Net gains (losses) on other equity interests: N/A 110 339 Net gains (losses) from disposal N/A 137 348 Impairments N/A (27 ) (9 ) Total net gains (losses) on financial assets available for sale N/A 479 653 Please also refer to Note 15 “Financial Assets Available for Sale” of this report. Financial Assets Available for Sale in € m. Dec 31, 2018 Dec 31, 2017 Debt securities: German government N/A 8,131 U.S. Treasury and U.S. government agencies N/A 8,092 U.S. local (municipal) governments N/A 2,436 Other foreign governments N/A 19,275 Corporates N/A 6,775 Other asset-backed securities N/A 1 Mortgage-backed securities, including obligations of U.S. federal agencies N/A 11 Other debt securities N/A 359 Total debt securities N/A 45,081 Equity securities: Equity shares N/A 897 Investment certificates and mutual funds N/A 97 Total equity securities N/A 994 Other equity interests N/A 636 Loans N/A 2,685 Total financial assets available for sale N/A 49,397 Please also refer to Note 7 “Net Gains (Losses) on Financial Assets Available for Sale” of this report. |
Other Income
Other Income | 12 Months Ended |
Dec. 31, 2018 | |
Other Income [Abstract] | |
Disclosure of other operating income [text block] | Other Income in € m. 2018 2017 2016 Other income: Net gains (losses) on disposal of loans (4 ) 19 (128 ) Insurance premiums¹ 3 4 89 Net income (loss) from hedge relationships qualifying for hedge accounting (497 ) (609 ) (370 ) Consolidated investments 0 0 362 Remaining other income² 712 112 1,100 Total other income (loss) 215 (475 ) 1,053 1 Net of reinsurance premiums paid. The development is primarily driven by Abbey Life Assurance Company Limited which has been sold in 2016 . 2 Includes net gains (losses) of € 141 million , € -81 million and € 744 million for t he years ended December 31, 2018, 2017 and 2016 , respectively, that are related to non-current assets and disposal groups held for sale. |
General and Administrative Expe
General and Administrative Expenses | 12 Months Ended |
Dec. 31, 2018 | |
General and administrative expenses [Abstract] | |
Disclosure of general and administrative expense [text block] | General and Administrative Expenses in € m. 2018 2017 2016 General and administrative expenses: IT costs 1 3,822 3,816 3,872 Regulatory, Tax & Insurance 2,3 1,545 1,489 1,421 Occupancy, furniture and equipment expenses 1,723 1,849 1,972 Professional service fees 1 1,530 1,750 2,305 Banking and transaction charges 753 744 664 Communication and data services 636 686 761 Travel and representation expenses 347 405 450 Marketing expenses 278 309 285 Consolidated investments 0 0 334 Other expenses 4 652 925 3,390 Total general and administrative expenses 11,286 11,973 15,454 1 Prior yea r numbers have been restated to reflect a shift from IT costs to professional service fees due to a change in the organizational structure. 2 Regulatory, Tax & Insurance which comprises Bank levy and Insurance and Deposit protection has been presented separately in order to provide further transparency. In the Annual Report for the year ended December 31, 2017, these expenses were included within Other expenses. 3 Includes bank levy of € 690 million in 2018, € 596 million in 2017 and € 547 million in 2016. 4 Includes litigation related expenses of € 88 million in 2018, € 213 million in 2017 and € 2.4 billion in 2016. See Note 29 “Provisions”, for more detail on litigation. |
Restructuring
Restructuring | 12 Months Ended |
Dec. 31, 2018 | |
Restructuring [Abstract] | |
Disclosure of Restructuring [text block] | Restructuring Restructuring forms part of the Group’s strategy implementation. We have defined measures that aim to strengthen the bank, position it for growth and simplify its organizational set-up. The measures also target to reduce adjusted costs through higher efficiency, by optimizing and streamlining processes, and by exploiting synergies. Restructuring expense is comprised of termination benefits, additional expenses covering the acceleration of deferred compensation awards not yet amortized due to the discontinuation of employment and contract termination costs related to real estate. in € m. 2018 2017 2016 Corporate & Investment Bank 287 81 292 Private & Commercial Bank 55 360 141 Asset Management 19 6 47 Non-Core Operations Unit – – 4 Total Net Restructuring Charges 360 447 484 in € m. 2018 2017 2016 Restructuring – Staff related 367 430 491 thereof: Termination Benefits 248 402 432 Retention Acceleration 113 26 54 Social Security 6 2 5 Restructuring – Non Staff related (6 ) 17 (7 ) Total Net Restructuring Charges 360 447 484 Provisions for restructuring amounted to € 585 million , € 696 million and € 741 million as of December 31, 201 8, December 31, 2017 and December 31, 2016, respectively. The majority of the current provisions for restructuring are expected to be utilized in the next two years. During 2018, 3,000 full-time equivalent staff was reduced through restructuring (2017: 2,045 and 2016: 1,451 ). Full-time equivalent staff 2018 2017 2016 Corporate & Investment Bank 1,002 502 356 Private & Commercial Bank 767 1,054 453 Asset Management 92 38 101 Infrastructure/Regional Management 1,138 451 541 Total full-time equivalent staff 3,000 2,045 1,451 |
Earnings per Common Share_2
Earnings per Common Share | 12 Months Ended |
Dec. 31, 2018 | |
Earnings per share [Abstract] | |
Disclosure of earnings per share [text block] | Earnings per Share Basic earnings per share amounts are computed by dividing net income (loss) attributable to Deutsche Bank shareholders by the average number of common shares outstanding during the year. The average number of common shares outstanding is defined as the average number of common shares issued, reduced by the average number of shares in treasury and by the average number of shares that will be acquired under physically-settled forward purchase contracts, and increased by undistributed vested shares awarded under deferred share plans. Diluted earnings per share assumes the conversion into common shares of outstanding securities or other contracts to issue common stock, such as share options, convertible debt, unvested deferred share awards and forward contracts. The aforementioned instruments are only included in the calculation of diluted earnings per share if they are dilutive in the respective reporting period. Computation of basic and diluted earnings per share in € m. 2018 2017 2016 Net income (loss) attributable to Deutsche Bank shareholders – 267 (1,049 ) (1,678 ) Effect of dilutive securities: Forwards and options 0 0 0 Convertible debt 0 0 0 Net income (loss) attributable to Deutsche Bank shareholders after assumed 267 (1,049 ) (1,678 ) Number of shares in million Weighted-average shares outstanding – denominator for basic earnings per share 2,102.2 1,967.7 1,555.3 Effect of dilutive securities: Forwards 0.0 0.0 0.0 Employee stock compensation options 0.0 0.0 0.0 Deferred shares 0.0 0.0 0.0 Other (including trading options) 0.0 0.0 0.0 Dilutive potential common shares 0.0 0.0 0.0 Adjusted weighted-average shares after assumed conversions – 2,102.2 1,967.7 1,555.3 1 Earnings were adjusted by € 292 million and € 298 million and € 276 million net of tax for the coupons paid on Additional Tier 1 Notes in April 2018, April 2017 and April 2016. Earnings per share in € 2018 2017 2016 Basic earnings per share (0.01 ) (0.53 ) (1.08 ) Diluted earnings per share (0.01 ) (0.53 ) (1.08 ) On April 7, 2017, Deutsche Bank AG completed a capital increase with subscription rights. As the subscription price of the new shares was lower than the market price of the existing shares, the capital increase included a bonus element. According to IAS 33, the bonus element is the result of an implicit change in the number of shares outstanding for all periods prior to the capital increase without a fully proportionate change in resources. As a consequence, the weighted average number of shares outstanding has been adjusted retrospectively. In accordance with IAS 33 the coupons paid on Additional Tier 1 Notes are not attributable to Deutsche Bank shareholders and therefore need to be deducted in the calculation. This adjustment created a net loss situation for Earnings per Common Share in 2018. Due to the net loss situation for 2018, 2017 and 2016 potentially dilutive shares are generally not considered for the earnings per share calculation, because to do so would have been anti-dilutive and hence decreased the net loss per share. Instruments outstanding and not included in the calculation of diluted earnings per share 1 Number of shares in m. 2018 2017 2016 Call options sold 0.0 0.0 0.0 Employee stock compensation options 0.0 0.0 0.0 Deferred shares 108.8 104.4 69.6 1 Not included in the calculation of diluted earnings per share, because to do so would have been anti-dilutive. |
Financial Assets_Liabilities at
Financial Assets/Liabilities at Fair Value through Profit or Loss | 12 Months Ended |
Dec. 31, 2018 | |
Financial Assets/Liabilities at Fair Value through Profit or Loss [Abstract] | |
Disclosure of financial instruments at fair value through profit or loss [text block] | Financial Assets/Liabilities at Fair Value through Profit or Loss in € m. Dec 31, 2018 Dec 31, 2017 Trading Financial assets: Trading assets: Trading securities 140,720 173,196 Other trading assets 1 12,017 11,466 Total trading assets 152,738 184,661 Positive market values from derivative financial instruments 320,058 361,032 Total Trading Financial assets 472,796 545,693 Non-trading financial assets mandatory at fair value through profit or loss: Securities purchased under resale agreements 44,543 N/A Securities borrowed 24,210 N/A Loans 12,741 N/A Other financial assets mandatory at fair value through profit or loss 18,951 N/A Total Non-trading financial assets mandatory at fair value through profit or loss 100,444 N/A Financial assets designated at fair value through profit or loss: Securities purchased under resale agreements 0 57,843 Securities borrowed 0 20,254 Loans 0 4,802 Other financial assets designated at fair value through profit or loss 104 8,377 Total financial assets designated at fair value through profit or loss 104 91,276 Total financial assets at fair value through profit or loss 573,344 636,970 1 Includes traded loans of € 11.5 billion and € 10.9 billion at December 31, 201 8 and 20 17 respectively. in € m. Dec 31, 2018 Dec 31, 2017 Financial liabilities classified as held for trading: Trading liabilities: Trading securities 59,629 71,148 Other trading liabilities 295 314 Total trading liabilities 59,924 71,462 Negative market values from derivative financial instruments 301,487 342,726 Total financial liabilities classified as held for trading 361,411 414,189 Financial liabilities designated at fair value through profit or loss: Securities sold under repurchase agreements 46,254 53,840 Loan commitments 0 8 Long-term debt 5,607 6,439 Other financial liabilities designated at fair value through profit or loss 1,895 3,587 Total financial liabilities designated at fair value through profit or loss 53,757 63,874 Investment contract liabilities 512 574 Total financial liabilities at fair value through profit or loss 415,680 478,636 Financial Assets & Liabilities designated at Fair Value through Profit or Loss The Group previously designated various lending relationships at fair value through profit or loss. In 2018, these facilities are mandatorily at fair value through profit or loss under IFRS 9 . Lending facilities consist of drawn loan assets and undrawn irrevocable loan commitments. The maximum exposure to credit risk on a drawn loan is its fair value. The Group’s maximum exposure to credit risk on drawn loans, including securities purchased under resale agreements an d securities borrowed, was € 0 million and € 83 billion as of December 31, 201 8, and 2017 , respectively. Exposure to credit risk also exists for undrawn irrevocable loan commitments and is predominantly counterparty credit risk. The credit risk on the securities purchased under resale agreements and securities borrowed designated under the fair value option is mitigated by the holding of collateral. The valuation of these instruments takes into account the credit enhancement in the form of the collateral received. As such there is no material movement during the year or cumulatively due to movements in counterparty credit risk on these instruments. Changes in fair value of f inancial a ssets attributable to movements in counterparty credit risk in € Dec 31, 2018 Dec 31, 2017 Notional value of financial assets exposed to credit risk 0 N/A Annual change in the fair value reflected in the Statement of Income 0 N/A Cumulative change in the fair value 0 N/A Notional of credit derivatives used to mitigate credit risk 0 N/A Annual change in the fair value reflected in the Statement of Income 0 N/A Cumulative change in the fair value 0 N/A Changes in fair value of loans 1 and loan commitments attributable to movements in counterparty credit risk 2 Dec 31, 2018 Dec 31, 2017 in € m. Loans Loan Loans Loan Notional value of loans and loan commitments exposed to credit risk N/A N/A 2,865 1,973 Annual change in the fair value reflected in the Statement of Income N/A N/A 7 14 Cumulative change in the fair value³ N/A N/A 10 30 Notional of credit derivatives used to mitigate credit risk N/A N/A 536 4,728 Annual change in the fair value reflected in the Statement of Income N/A N/A (0 ) (42 ) Cumulative change in the fair value³ N/A N/A 1 (46 ) 1 Where the loans are over-collateralized there is no material movement in valuation during the year or cumulatively due to movements in counterparty credit risk. 2 D etermined using valuation models that exclude the fair value impact associated with market risk. 3 Changes are attributable to loans and loan commitments held at reporting date, which may differ from those held in prior periods. No adjustments are made to prior year to reflect differences in the underlying population. Changes in fair value of financial liabilities attributable to movements in the Group’s credit risk 1 in € m. Dec 31, 2018 Dec 31, 2017² Presented in Other comprehensive Income Cumulative change in the fair value (49 ) N/A Presented in Statement of income Annual change in the fair value reflected in the Statement of Income 0 60 Cumulative change in the fair value 0 72 1 The fair value of a financial liability incorporates the credit risk of that financial liability. Changes in the fair value of financial liabilities issued b y consolidated structured entities have been excluded as this is not related to the Group’s credit risk but to that of the legally isolated structured entity, which is dependent on the collateral it holds. Transfers of the cumulative gains or losses within equity during the period in € m. Dec 31, 2018 Dec 31, 2017 Cumulative gains or losses within equity during the period 0 N/A Amounts realized on derecognition of l iabilities designated at fair value through profit or loss in € m. Dec 31, 2018 Dec 31, 2017 Amount presented in other comprehensive income realized at derecognition (3 ) N/A The excess of the contractual amount repayable at maturity over the carrying value of financial liabilities 1 in € m. Dec 31, 2018 Dec 31, 2017 Including undrawn loan commitments² 2,545 6,088 Excluding undrawn loan commitments 2,536 2,073 1 Assuming the liability is extinguished at the earliest contractual maturity that the Group can be required to repay. When the amount payable is not fixed, it is determined by reference to conditions existing at the reporting date. 2 The contractual cash flows at maturity for undrawn loan commitments assume full drawdown of the facility. |
Financial Instruments carried a
Financial Instruments carried at Fair Value | 12 Months Ended |
Dec. 31, 2018 | |
Financial Instruments carried at Fair Value [Abstract] | |
Disclosure of fair value of financial instruments [text block] | Financial Instruments carried at Fair Value Valuation Methods and Control The Group has an established valuation control framework which governs internal control standards, methodologies , and procedures over the valuation process. Prices Quoted in Active Markets – The fair value of instruments that are quoted in active markets are determined using the quoted prices where they represent prices at which regularly and recently occurring transactions take place. Valuation Techniques – The Group uses valuation techniques to establish the fair value of instruments where prices, quoted in active markets, are not available. Valuation techniques used for financial instruments include modelling techniques, the use of indicative quotes for proxy instruments, quotes from recent and less regular transactions and broker quotes. For some financial instruments a rate or other parameter, rather than a price, is quoted. Where this is the case then the market rate or parameter is used as an input to a valuation model to determine fair value. For some instruments, modelling techniques follow industry standard models , for example, discounted cash flow analysis and standard option pricing models. These models are dependent upon estimated future cash flows, discount factors and volatility levels. For more complex or unique instruments, more sophisticated modelling techniques are required, and may rely upon assumptions or more complex parameters such as correlations, prepayment speeds, default rates and loss severity. Frequently, valuation models require multiple parameter inputs. Where possible, parameter inputs are based on observable data or are derived from the prices of relevant instruments traded in active markets. Where observable data is not available for parameter inputs , then other market information is considered. For example, indicative broker quotes and consensus pricing information are used to support parameter inputs where they are available. Where no observable information is available to support parameter inputs then they are based on other relevant sources of information such as prices for similar transactions, historic data, economic fundamentals , and research information, with appropriate adjustment to reflect the terms of the actual instrument being valued and current market conditions. Valuation Adjustments – Valuation adjustments are an integral part of the valuation process. In making appropriate valuation adjustments, the Group follows methodologies that consider factors such as bid-offer spreads, counterparty/own credit and funding risk. Bid-offer spread valuation adjustments are required to adjust mid market valuations to the appropriate bid or offer valuation. The bid or offer valuation is the best representation of the fair value for an instrument, and therefore its fair value. The carrying value of a long position is adjusted from mid to bid, and the carrying value of a short position is adjusted from mid to offer. Bid-offer valuation adjustments are determined from bid-offer prices observed in relevant trading activity and in quotes from other broker-dealers or other knowledgeable counterparties. Where the quoted price for the instrument is already a bid-offer price then no additional bid-offer valuation adjustment is necessary. Where the fair value of financial instruments is derived from a modelling technique, then the parameter inputs into that model are normally at a mid-market level. Such instruments are generally managed on a portfolio basis and, when specified criteria are met, valuation adjustments are taken to reflect the cost of closing out the net exposure the Bank has to individual market or counterparty risks. These adjustments are determined from bid-offer prices observed in relevant trading activity and quotes from other broker-dealers. Where complex valuation models are used, or where less-liquid positions are being valued, then bid-offer levels for those positions may not be available directly from the market, and therefore for the close-out cost of these positions, models and parameters must be estimated. When these adjustments are designed, the Group closely examines the valuation risks associated with the model as well as the positions themselves, and the resulting adjustments are closely monitored on an ongoing basis. Counterparty Credit Valuation Adjustments (CVAs) are required to cover expected credit losses to the extent that the valuation technique does not already include an expected credit loss factor relating to the non-performance risk of the counterparty. The CVA amount is applied to all relevant over-the-counter (OTC) derivatives, and is determined by assessing the potential credit exposure to a given counterparty and taking into account any collateral held, the effect of any relevant netting arrangements, expected loss given default and the probability of default, based on available market information, including Credit Default Swap (CDS) spreads. Where counterparty CDS spreads are not available, relevant proxies are used. The fair value of the Group’s financial liabilities at fair value through profit or loss (i.e., OTC derivative liabilities and issued note liabilities designated at fair value through profit or loss) incorporates valuation adjustments to measure the change in the Group’s own credit risk (i.e. Debt Valuation Adjustments (DVA) for Derivatives and Own Credit Adjustment ( OCA ) for structured notes). For derivative liabilities the Group considers its own creditworthiness by assessing all counterparties’ expected future exposure to the Group, taking into account any collateral posted by the Group, the effect of relevant netting arrangements, the probability of default of the Group, based on the Group’s market CDS level and the expected loss given default, taking into account the seniority of derivative claims under resolution (statutory subordination). Issued note liabilities are discounted utilising the spread at which similar instruments would be issued or bought back at the measurement date as this reflects the value from the perspective of a market participant who holds the identical item as an asset. This spread is further parameterised into a market level of funding component and an idiosyncratic own credit component. Under IFRS 9 the change in the own credit component is reported under Other Comprehensive Income (OCI). When determining CVA and DVA , additional adjustments are made where appropriate to achieve fair value, due to the expected loss estimate of a particular arrangement, or where the credit risk being assessed differs in nature to that described by the available CDS instrument. Funding Valuation Adjustments (FVA) are required to incorporate the market implied funding costs into the fair value of derivative positions. The FVA reflects a discounting spread applied to uncollateralized and partially collateralized derivatives and is determined by assessing the market-implied funding costs on both assets and liabilities. Where there is uncertainty in the assumptions used within a modelling technique, an additional adjustment is taken to calibrate the model price to the expected market price of the financial in strument. Typically, such trans actions have bid-offer levels which are less observable, and these adjustments aim to estimate the bid-offer by computing the liquidity-premium associated with the transaction. Where a financial instrument is of sufficient complexity that the cost of closing it out would be higher than the cost of closing out its component risks, then an additional adjustment is taken to reflect this. Valuation Control – The Group has an independent specialized valuation control group within the Finance function which governs and develops the valuation control framework and manages the valuation control processes. The mandate of this specialist function includes the performance of the independent valuation control process for all businesses, the continued development of valuation control methodologies and techniques, as well as devising and governing the formal valuation control policy framework. Special attention of this independent valuation control group is directed to areas where management judgment forms part of the valuation process. Results of the valuation control process are collected and analysed as part of a standard monthly reporting cycle. Variances of differences outside of preset and approved tolerance levels are escalated both within the Finance function and with Senior Business Management for review, resolution and, if required, adjustment. For instruments where fair value is determined from valuation models, the assumptions and techniques used within the models are independently validated by an independent specialist model validation group that is part of the Group’s Risk Management function. Quotes for transactions and parameter inputs are obtained from a number of t hird party sources including ex changes, pricing service providers, firm broker quotes and consensus pricing services. Price sources are examined and assessed to determine the quality of fair value information they represent, with greater emphasis given to those possessing greater valuation certainty and relevance. The results are compared against actual transactions in the market to ensure the model valuations are calibrated to market prices. Price and parameter inputs to models, assumptions and valuation adjustments are verified against independent sources. Where they cannot be verified to independent sources due to lack of observable information, the estimate of fair value is subject to procedures to assess its reasonableness. Such procedures include performing revaluation using independently generated models (including where existing models are independently recali brated), assessing the valuations against appropriate proxy instruments and other benchmarks, and performing extrapolation techniques. Assessment is made as to whether the valuation techniques produce fair value estimates that are reflective of market levels by calibrating the results of the valuation models against market transactions where possible. Fair Value Hierarchy The financial instruments carried at fair value have been categorized under the three levels of the IFRS fair value hierarchy as follows: Level 1 – Instruments valued using quoted prices in active markets are instruments where the fair value can be determined directly from prices which are quoted in active, liquid markets and where the instrument observed in the market is representative of that being priced in the Group’s inventory. These include: government bonds, exchange-traded derivatives and equity securities traded on active, liquid exchanges. Level 2 – Instruments valued with valuation techniques using observable market data are instruments where the fair value can be determined by reference to similar instruments trading in active markets, or where a technique is used to derive the valuation but where all inputs to that technique are observable. These include: many OTC derivatives; many investment-grade listed credit bonds ; some CDS ; many collateralized debt obligations ( CDO); and many less-liquid equities. Level 3 – Instruments valued using valuation techniques using market data which is not directly observable are instruments where the fair value cannot be determined directly by reference to market-observable information, and some other pricing technique must be employed. Instruments classified in this category have an element which is unobservable and which has a significant impact on the fair value. These include: more-complex OTC derivatives; distressed debt; highly-structured bonds; illiquid asset-backed securities ( ABS); illiquid CDO’s (cash and synthetic); monoline exposures; some private equity place ments; many commercial real estate ( CRE) loans; illiquid loans; and some municipal bonds. Carrying value of the financial instruments held at fair value 1 Dec 31, 2018 Dec 31, 2017 in € m. Quoted Valuation Valuation Quoted Valuation Valuation Financial assets held at fair value: Trading assets 75,415 67,560 9,763 106,075 69,543 9,043 Trading securities 75,210 61,424 4,086 105,792 62,770 4,634 Other trading assets 205 6,136 5,676 283 6,773 4,409 Positive market values from derivative financial instruments 10,140 301,609 8,309 12,280 341,413 7,340 Non-trading financial assets mandatory at fair value through profit or loss 8,288 86,090 6,066 N/A N/A N/A Financial assets designated at fair value through profit or loss 104 0 0 6,547 83,242 1,488 Financial assets at fair value through other comprehensive income 32,517 18,397 268 N/A N/A N/A Financial assets available for sale N/A N/A N/A 29,579 15,713 4,104 Other financial assets at fair value 42 2,779 2 207 0 3,258 2 47 Total financial assets held at fair value 126,505 476,435 24,614 154,480 513,169 22,022 Financial liabilities held at fair value: Trading liabilities 42,548 17,361 15 53,644 17,817 2 Trading securities 42,547 17,082 0 53,644 17,503 2 Other trading liabilities 1 279 15 0 314 0 Negative market values from derivative financial instruments 9,638 285,561 6,289 9,163 327,572 5,992 Financial liabilities designated at fair value through profit or loss 119 51,617 2,021 4 62,426 1,444 Investment contract liabilities 0 512 0 0 574 0 Other financial liabilities at fair value 201 2,658 2 (611 ) 3 0 2,559 2,4 (298 ) 3 Total financial liabilities held at fair value 52,505 357,709 7,714 62,810 410,948 7,139 1 Amounts in this table are generally presented on a gross basis, in line with the Group’s accounting policy regarding offsetting of financial instruments, as described in Note 1 “Significant Accounting Policies and Critical Accounting Estimates”. 2 Predominantly relates to derivatives qualifying for hedge accounting. 3 Relates to d erivatives which are embedded in contracts where the host contract is held at amortized cost but for which the embedded derivative is separated. The separated embedded derivatives may have a positive or a negative fair value but have been presented in this table to be consistent with the classification of the host contract. The separated embedded derivatives are held at fair value on a recurring basis and have been split between the fair value hierarchy classifications . 4 Restatement undertaken represents pure reclass from Note 14 “Fair Value of Financial Instruments not carried at Fair Value” to Note 13 “Financial Instruments carried at Fair Value”- no change in amounts. Amounts are carried at fair value. In 2018, there were transfers of VALUE! from Level 1 to Level 2 on trading securities based on changes in liquidity testing procedures. Valuation Techniques The following is an explanation of the valuation techniques used in establishing the fair value of the different types of financial instruments that the Group trades. Sovereign, Quasi-sovereign and Corporate Debt and Equity Securities – Where there are no recent transactions then fair value may be determined from the last market price adjusted for all changes in risks and information since that date. Where a close proxy instrument is quoted in an active market then fair value is determined by adjusting the proxy value for differences in the risk profile of the instruments. Where close proxies are not available then fair value is estimated using more complex modelling techniques. These techniques include discounted cash flow models using current market rates for credit, interest, liquidity and other risks. For equity securities modeling techniques may also include those based on earnings multiples. Mortgage- and Other Asset-Backed Securities (MBS/ABS) include residential and commercial MBS and other ABS including CDOs. ABS have specific characteristics as they have different underlying assets and the issuing entities have different capital structures. The complexity increases further where the underlying assets are themselves ABS, as is the case with many of the CDO instruments. Where no reliable external pricing is available, ABS are valued, where applicable, using either relative value analysis which is performed based on similar transactions observable in the market, or industry-standard valuation models making largest possible use of available observable inputs. The industry standard models calculate principal and interest payments for a given deal based on assumptions that can be independently price tested. The inputs include prepayment speeds, loss assumptions (timing and severity) and a discount rate (spread, yield or discount margin). These inputs/assumptions are derived from actual transactions, external market research and market indices where appropriate. Loans – For certain loans fair value may be determined from the market price on a recently occurring transaction adjusted for all changes in risks and information since that transaction date. Where there are no recent market transactions then broker quotes, consensus pricing, proxy instruments or discounted cash flow models are used to determine fair value. Discounted cash flow models incorporate parameter inputs for credit risk, interest rate risk, foreign exchange risk, loss given default estimates and amounts utilized given default, as appropriate. Credit risk, loss given default and utilization given default parameters are determined using information from the loan or other credit markets, where available and appropriate. Leveraged loans can have transaction-specific characteristics which can limit the relevance of market-observed transactions. Where similar transactions exist for which observable quotes are available from external pricing services then this information is used with appropriate adjustments to reflect the transaction differences. When no similar transactions exist, a discounted cash flow valuation technique is used with credit spreads derived from the appropriate leveraged loan index, incorporating the industry classification, subordination of the loan, and any other relevant information on the loan and loan counterparty. Over-The-Counter Derivative Financial Instruments – Market standard transactions in liquid trading markets , such as interest rate swaps, foreign exchange forward and option contracts in G7 currencies, and equity swap and option contracts on listed securities or indices are valued using market standard models and quoted parameter inputs. Parameter inputs are obtained from pricing services, cons ensus pricing ser vices and recently occurring transactions in active markets wherever possible. More complex instruments are modeled using more sophisticated modeling techniques specific for the instrument and are calibrated to available market prices. Where the model output value does not calibrate to a relevant market reference then valuation adjustments are made to the model output value to adjust for any difference. In less active markets, data is obtained from less frequent market transactions, broker quotes and through extrapolation and interpolation techniques. Where observable prices or inputs are not available, management judgment is required to determine fair values by assessing other relevant sources of information such as historical data, fundamental analysis of the economics of the transaction and proxy information from similar transactions. Financial Liabilities Designated at Fair Value through Profit or Loss under the Fair Value Option – The fair value of financial liabilities designated at fair value through profit or loss under the fair value option incorporates all market risk factors including a measure of the Group’s credit risk relevant for that financial liability. The financial liabilities include structured note issuances, structured deposits, and other structured securities issued by consolidated vehicles, which may not be quoted in an active market. The fair value of these financial liabilities is determined by discounting the contractual cash flows using the relevant credit-adjusted yield curve. The market risk parameters are valued consistently to similar instruments held as assets, for example, any derivatives embedded within the structured notes are valued using the same methodology discussed in the “Over-The-Counter Derivative Financial Instruments” section above. Where the financial liabilities designated at fair value through profit or loss under the fair value option are collateralized, such as securities loaned and securities sold under repurchase agreements, the credit enhancement is factored into the fair valuation of the liability. Investment Contract Liabilities – Assets which are linked to the investment contract liabilities are owned by the Group. The investment contract obliges the Group to use these assets to settle these liabilities. Therefore, the fair value of investment contract liabilities is determined by the fair value of the underlying assets (i.e., amount payable on surrender of the policies). Analysis of Financial Instruments with Fair Value Derived from Valuation Techniques Containing Significant Unobservable Parameters (Level 3) Some of the financial assets and financial liabilities in Level 3 of the fair value hierarchy have identical or similar offsetting exposures to the unobservable input. However, according to IFRS they are required to be presented gross . Trading Securities – Certain illiquid emerging market corporate bonds and illiquid highly structured corporate bonds are included in this level of the hierarchy. In addition, some of the holdings of notes issued by securitization entities, commercial and residential MBS, collateralized debt obligation securities and other ABS are reported here . The decrease in the year is mainly due to a combination of sales and settlements offset by purchases, gains and transfers between Level 2 and Level 3 due to changes in the observability of input parameters used to value these instruments. Positive and Negative Market Values from Derivative Instruments categorized in this level of the fair value hierarchy are valued based on one or more significant unobservable parameters. The unobservable parameters may include certain correlations, certain longer-term volatilities, certain prepayment rates, credit spreads and other transaction-specific parameters. Level 3 derivatives includes certain options where the volatility is unobservable; certain basket options in which the correlations between the referenced underlying assets are unobservable; longer-term interest rate option derivatives; multi-currency foreign exchange derivatives; and certain credit default swaps for which the credit spread is not observable. The increase in assets was due to gains and transfers between Level 2 and Level 3 due to changes in the observability of input parameters used to value these instruments offset by settlements. The increase in liabilities was due to losses and transfers between Level 2 and Level 3 offset by settlements. Other Trading Instruments classified in Level 3 of the fair value hierarchy mainly consist of traded loans valued using valuation models based on one or more significant unobservable parameters. Level 3 loans comprise illiquid leveraged loans and illiquid residential and commercial mortgage loan s. The balance increased in the year due to purchases, issuances, gains and transfers between Level 2 and Level 3 due to changes in the observability of input parameters used to value these instruments offset by sales and settlements. Non-trading financial assets mandatory at fair value through profit or loss (2018) classified in level 3 of fair value hierarchy consist of any non-trading financial asset that does not fall into the Hold to Collect nor Hold to Collect and Sell business models. This includes predominately reverse repurchase agreements which are managed on a fair value basis. Additionally, any financial asset that falls into the Hold to Collect or Hold to Collect and Sell business models for which the contractual cash flow characteristics are not SPPI. The increase in the period is driven by purchases, issuances, gains and transfers between Level 2 and Level 3 due to changes in the observability of input parameters used to value these instruments offset by sales and settlements . Financial Assets/Liabilities designated at Fair Value through Profit or Loss – Certain corporate loans and structured liabilities which were designated at fair value through profit or loss under the fair value option were categorized in this level of the fair value hierarchy. The corporate loans are valued using valuation techniques which incorporate observable credit spreads, recovery rates and unobservable utilization parameters. Revolving loan facilities are reported in the third level of the hierarchy because the utilization in the event of the default parameter is significant and unobservable. In addition, certain hybrid debt issuances designated at fair value through profit or loss containing embedded derivatives are valued based on significant unobservable parameters. These unobservable parameters include single stock volatility correlations. Assets marginally decreased during the year due to settlements and transfers between Level 2 and Level 3 offset by gains . Liabilities increased in the year due to issuances and transfers between Level 2 and Level 3 offset by settlements and gains . Financial assets at fair value through other comprehensive income (2018) /Financial Assets Available for Sale (2017) include non-performing loan portfolios where there is no trading intent and the market is very illiquid. Assets increased marginally due to purchases offset by transfers between levels 2 and 3, sales, settlements and losses. Reconciliation of financial instruments classified in Level 3 Reconciliation of financial instruments classified in Level 3 Dec 31, 2018 in € m. Balance, Changes Total 1 Purchases Sales Issu- 2 Settle- 3 Transfers 4 Transfers 4 Balance, Financial assets held at Trading securities 4,148 6 105 2,146 (1,908 ) 0 (481 ) 897 (826 ) 4,086 Positive market values 7,340 0 718 0 0 0 (137 ) 1,940 (1,551 ) 8,309 Other trading assets 4,426 0 233 981 (2,027 ) 3,055 (1,241 ) 506 (257 ) 5,676 Non-trading financial assets mandatory at fair value through profit or loss 4,573 3 426 3,627 (567 ) 1,013 (3,128 ) 411 (292 ) 6,066 Financial assets designated at fair value through profit or loss 91 0 4 0 0 0 (22 ) 0 (72 ) 0 Financial assets at fair value through other comprehensive income 231 3 (4 ) 5 260 (162 ) 0 (6 ) 2 (55 ) 268 Other financial assets at 47 0 0 0 0 0 0 207 (47 ) 207 Total financial assets held 20,855 8 12 1,481 6,7 7,014 (4,664 ) 4,068 (5,015 ) 3,963 (3,100 ) 24,614 Financial liabilities held Trading securities 2 (0 ) (1 ) 0 0 0 (0 ) 0 (1 ) 0 Negative market values 5,992 0 531 0 0 0 (522 ) 1,319 (1,031 ) 6,289 Other trading liabilities 0 0 (1 ) 0 0 0 16 0 0 15 Financial liabilities 1,444 0 (121 ) 0 0 692 (270 ) 408 (134 ) 2,021 Other financial liabilities (298 ) 0 (299 ) 0 0 0 38 (29 ) (23 ) (611 ) Total financial liabilities 7,139 0 110 6,7 0 0 692 (738 ) 1,699 (1,189 ) 7,714 1 Total gains and losses predominantly relate to net gains (losses) on financial assets/liabilities at fair value through profit or loss reported in the consolidated statement of income. The balance also includes net gains (losses) on financial assets available for sale reported in the consolidated statement of income and unrealized net gains (losses) on financial assets available for sale and exchange rate changes reported in other comprehensive income, net of tax. Further, certain instruments are hedged with instruments in Level 1 or Level 2 but the table above does not include the gains and losses on these hedging instruments. Additionally, both observable and unobservable parameters may be used to determine the fair value of an instrument classified within Level 3 of the fair value hierarchy; the gains and losses presented below are attributable to movements in both the observable and unobservable parameters. 2 Issuances relate to the cash amount received on the issuance of a liability and the cash amount paid on the primary issuance of a loan to a borrower. 3 Settlements represent cash flows to settle the asset or liability. For debt and loan instruments this includes principal on maturity, principal amortizations and principal repayments. For derivatives all cash flows are presented in settlements. 4 Transfers in and transfers out of Level 3 are related to changes in observability of input parameters. During the year they are recorded at their fair value at the beginning of year. For instruments transferred into Level 3 the table shows the gains and losses and cash flows on the instruments as if they had been transferred at the beginning of the year. Similarly for instruments trans ferred out of Level 3 the table does not show any gains or losses or cash flows on the instruments during the year since the table is presented as if they have been transferred out at the beginning of the year. 5 Total gains and losses on financial assets at fair value through other comprehensive income include a loss of € 8 million recognized in other comprehensive income, net of tax, and a loss of € 4 million r ecognized in the income statement presented in net gains (losses) . 6 This amount includes the effect of exchange rate changes. For total financial assets held at fair value this effect is a gain of € 136 million and for total financial liabilities held at fair value this is a loss of € 33 million . The effect of exchange rate changes is reported in other comprehensive income, net of tax. 7 For assets positive balances represent gains, negative balances represent losses. For liabilities positive balances represent losses, negative balances represent gains . 8 Opening balances have been restated due to reassessment of trades due to IFRS 9. Dec 31, 2017 in € m. Balance, Changes Total 1 Purchases Sales Issu- 2 Settle- 3 Transfers 4 Transfers 4 Balance, Financial assets held at Trading securities 5,012 (1 ) (153 ) 2,144 (1,660 ) 0 (818 ) 772 (662 ) 4,634 Positive market values 9,798 (0 ) (610 ) 0 0 0 (1,889 ) 2,298 (2,257 ) 7,340 Other trading assets 5,674 (7 ) (283 ) 2,095 (2,328 ) 636 (1,803 ) 950 (524 ) 4,409 Financial assets designated at fair value through profit or loss 1,601 0 (78 ) 807 (118 ) 63 (710 ) 58 (134 ) 1,488 Financial assets available 4,153 (40 ) 205 5 722 (249 ) 0 (1,206 ) 539 (21 ) 4,104 Other financial assets at 33 0 33 0 0 0 (26 ) 7 0 47 Total financial assets held 26,271 (47 ) (886 ) 6,7 5,768 (4,356 ) 699 (6,453 ) 4,624 (3,598 ) 22,022 Financial liabilities held at Trading securities 52 0 (6 ) 0 0 0 (46 ) 1 0 2 Negative market values 8,857 (5 ) (64 ) 0 0 0 (1,827 ) 924 (1,892 ) 5,992 Other trading liabilities 0 0 (0 ) 0 0 0 0 0 0 0 Financial liabilities 2,229 (7 ) (128 ) 0 0 146 (564 ) 154 (387 ) 1,444 Other financial liabilities (848 ) 0 268 0 0 0 286 (18 ) 15 (298 ) Total financial liabilities 10,290 (12 ) 69 6,7 0 0 146 (2,151 ) 1,061 (2,265 ) 7,139 1 Total gains and losses predominantly relate to net gains (losses) on financial assets/liabilities at fair value through profit or loss reported in the consolidated statement of income. The balance also includes net gains (losses) on financial assets available for sale reported in the consolidated statement of income and unrealized net gains (losses) on financial assets available for sale and exchange rate changes reported in other comprehensive income, net of tax. Further, certain instruments are hedged with instruments in Level 1 or Level 2 but the table above does not include the gains and losses on these hedging instruments. Additionally, both observable and unobservable parameters may be used to determine the fair value of an instrument classified within Level 3 of the fair value hierarchy; the gains and losses presented below are attributable to movements in both the observable and unobservable parameters. 2 Issuances relate to the cash amount received on the issuance of a liability and the cash amount paid on the primary issuance of a loan to a borrower. 3 Settlements represent cash flows to settle the asset or liability. For debt and loan instruments this includes principal on maturity, principal amortizations and principal repayments. For derivatives all cash flows are presented in settlements. 4 Transfers in and transfers out of L evel 3 are related to changes in observability of input parameters. During the year they are recorded at their fair value at the beginning of year. Fo r instruments transferred into L evel 3 the table shows the gains and losses and cash flows on the instruments as if they had been transferred at the beginning of the yea |
Fair Value of Financial Instrum
Fair Value of Financial Instruments not carried at Fair Value | 12 Months Ended |
Dec. 31, 2018 | |
Fair Value of Financial Instruments not carried at Fair Value [Abstract] | |
Disclosure of Fair Value of Financial Instruments not carried at Fair Value [text block] | Fair Value of Financial Instruments not carried at Fair Value The valuation techniques used to establish fair value for the Group’s financial instruments which are not carried at fair value in the balance sheet and their respective IFRS fair value hierarchy categorization are consist ent with those outlined in Note 1 3 “Financial Instruments carried at Fair Value”. Other financial instruments not carried at fair value are not managed on a fair value basis, for example, retail loans and deposits and credit facilities extended to corporate clients. For these instruments fair values are calculated for disclosure purposes only and do not impact the balance sheet or income statement. Additionally, since the instruments generally do not trade there is significant management judgment required to determine these fair values. Short-term financial instruments – The carrying value represents a reasonable estimate of fair value for the following financial instruments which are predominantly short-term : Assets Liabilities Cash and central bank balances Deposits Interbank balances (w/o central banks) Central bank funds purchased and securities sold under repurchase agreements Central bank funds sold and securities purchased under resale agreements Securities loaned Securities borrowed Other short-term borrowings Other financial assets Other financial liabilities For longer-term financial instruments within these categories, fair value is determined by discounting contractual cash flows using rates which could be earned for assets with similar remaining maturities and credit risks and, in the case of liabilities, rates at which the liabilities with similar remaining maturities could be issued, at the balance sheet date. Loans – Fair value is determined using discounted cash flow models that incorporate parameter inputs for credit risk, interest rate risk, foreign exchange risk, loss given default estimates and amounts utilized given default, as appropriate. Credit risk, loss given default and utilization given default parameters are determined using information from the loan agreement or credit default swap markets, w here available and appropriate. For retail lending portfolios with a large number o f homogenous loans (i.e. German residential mortgages), the fair value is calculated on a portfolio basis by discounting the portfolio’s contractual cash flows using own new interest rates on this type of loan. For similar retail lending portfolios outside Germany, the fair value is calculated on a portfolio basis by discounting the portfolio’s contractual cash flows using risk-free interest rates. This present value calculation is then adjusted for credit risk by discounting at the margins which could be earned on similar loans if issued at the balance sheet date. For other portfolios the present value calculation is adjusted for credit risk by calculating the expected loss over the estimated life of the loan based on various parameters including probability of default and loss given default and level of collateralization. The fair value of corporate lending portfolios is estimated by discounting a projected margin over expected maturities using parameters derived from the current market values of collateralized loan obligation (“CLO”) transactions collateralized with loan portfolios that are similar to the Group’s corporate lending portfolio. Securities purchased under resale agreements, securities borrowed, securities sold under repurchase agree ments and securities loaned – Fair value is derived from valuation techniques by discounting future cash flows using the appropriate credit risk-adjusted discount rate. The credit risk-adju sted discount rate includes con sideration of the collateral received or pledged in the transaction. These products are typically short-term and highly collateralized, therefore the fair value is not significantly different to the carrying value. Long-term debt and trust preferred securities – Fair value is determined from quoted market prices, where available. Where quoted market prices are not available, fair value is estimated using a valuation technique that discounts the remaining contractual cash at a rate at which an instrument with similar characteristics could be issued at the balance sheet date. E stimated fair value of financial instruments not carried at fair value on the balance sheet 1 Dec 31, 2018 in € m. Carrying value Fair value Quoted Valuation Valuation Financial assets: Cash and central bank balances 188,731 188,731 188,731 0 0 Interbank balances (w/o central banks) 8,881 8,881 78 8,804 0 Central bank funds sold and securities 8,222 8,223 0 8,223 0 Securities borrowed 3,396 3,396 0 3,396 0 Loans 400,297 395,900 0 10,870 385,029 Securities held to maturity 0 0 0 0 0 Other financial assets 80,089 80,193 850 79,343 1 Financial liabilities: Deposits 564,405 564,637 516 563,850 272 Central bank funds purchased and securities 4,867 4,867 0 4,867 0 Securities loaned 3,359 3,359 0 3,359 0 Other short-term borrowings 14,158 14,159 0 14,159 0 Other financial liabilities 100,683 100,683 1,816 98,866 1 Long-term debt 152,083 149,128 0 140,961 8,167 Trust preferred securities 3,168 3,114 0 3,114 0 Dec 31, 2017 in € m. Carrying value Fair value Quoted Valuation Valuation Financial assets: Cash and central bank balances 225,655 225,655 225,655 0 0 Interbank balances (w/o central banks) 9,265 9,265 76 9,189 0 Central bank funds sold and securities 9,971 9,973 0 9,973 0 Securities borrowed 16,732 16,732 0 16,732 0 Loans 401,699 403,842 0 24,643 379,199 Securities held to maturity 3,170 3,238 3,238 0 0 Other financial assets 88,936 88,939 0 88,939 0 Financial liabilities: Deposits 580,812 580,945 2,108 578,837 (0 ) Central bank funds purchased and securities 18,105 18,103 0 18,103 0 Securities loaned 6,688 6,688 0 6,688 0 Other short-term borrowings 18,411 18,412 0 18,412 0 Other financial liabilities 116,101 116,101 1,875 114,226 0 Long-term debt 159,715 161,829 0 152,838 8,991 Trust preferred securities 5,491 5,920 0 5,920 0 1 Amounts generally presented on a gross basis, in line with the Group’s accounting policy regarding offsetting of financial instruments as described in 2 Restatement undertaken represents pure reclass from Note 14 “Fair Value of Financial Instruments not carried at Fair Value” to Note 13 “Financial Instruments carried at Fair Value” . Lo ans – The difference between fair value and carrying value arose predominantly due to an increase in expected default rates and reduction in liquidity as implied from market pricing since initial recognition. These reductions in fair value are offset by an increase in fair value due to interest rate movements on fixed rate instruments. Long-term debt and trust preferred securities – The difference between fair value and carrying value is due to the effect of changes in the rates at which the Group could issue debt with similar maturity and subordination at the balance sheet date compared to when the instrument was is sued. |
Financial Assets Available for
Financial Assets Available for Sale | 12 Months Ended |
Dec. 31, 2018 | |
Financial Assets Available for Sale [Abstract] | |
Disclosure of available for sale financial assets [text block] | Net Gains (Losses) on Financial Assets Available for Sale in € m. 2018 2017 2016 Net gains (losses) on financial assets available for sale: Net gains (losses) on debt securities: N/A 114 229 Net gains (losses) from disposal N/A 115 230 Impairments N/A (1 ) (1 ) Net gains (losses) on equity securities: N/A 219 79 Net gains (losses) from disposal/remeasurement N/A 219 96 Impairments N/A (1 ) (17 ) Net gains (losses) on loans: N/A 37 6 Net gains (losses) from disposal N/A 45 21 Impairments N/A (8 ) (15 ) Reversal of impairments N/A 0 0 Net gains (losses) on other equity interests: N/A 110 339 Net gains (losses) from disposal N/A 137 348 Impairments N/A (27 ) (9 ) Total net gains (losses) on financial assets available for sale N/A 479 653 Please also refer to Note 15 “Financial Assets Available for Sale” of this report. Financial Assets Available for Sale in € m. Dec 31, 2018 Dec 31, 2017 Debt securities: German government N/A 8,131 U.S. Treasury and U.S. government agencies N/A 8,092 U.S. local (municipal) governments N/A 2,436 Other foreign governments N/A 19,275 Corporates N/A 6,775 Other asset-backed securities N/A 1 Mortgage-backed securities, including obligations of U.S. federal agencies N/A 11 Other debt securities N/A 359 Total debt securities N/A 45,081 Equity securities: Equity shares N/A 897 Investment certificates and mutual funds N/A 97 Total equity securities N/A 994 Other equity interests N/A 636 Loans N/A 2,685 Total financial assets available for sale N/A 49,397 Please also refer to Note 7 “Net Gains (Losses) on Financial Assets Available for Sale” of this report. |
Financial assets at fair value
Financial assets at fair value through other comprehensive income | 12 Months Ended |
Dec. 31, 2018 | |
Financial assets at fair value through OCI [Abstract] | |
Financial assets at fair value through other comprehensive income [text block] | Financial assets at fair value through other comprehensive income in € m. Dec 31, 2018 Dec 31, 2017 Securities purchased under resale agreement 1,097 N/A Debt securities: German government 7,705 N/A U.S. Treasury and U.S. government agencies 13,118 N/A U.S. local (municipal) governments 101 N/A Other foreign governments 18,152 N/A Corporates 5,606 N/A Other asset-backed securities 27 N/A Mortgage-backed securities, including obligations of U.S. federal agencies 103 N/A Other debt securities 181 N/A Total debt securities 44,993 N/A Loans 5,092 N/A Total financial assets at fair value through other comprehensive income 51,182 N/A |
Financial Instruments Held to M
Financial Instruments Held to Maturity | 12 Months Ended |
Dec. 31, 2018 | |
Financial Instruments Held to Maturity [Abstract] | |
Disclosure of Financial Instruments Held to Maturity [text block] | Financial Instruments Held to Maturity In the first quarter of 2016, the Group beg a n to use the Held to Maturity category to more appropriately present income and capital volatility in its banking book. In addition to managing the Group ’s existing banking book exposure to interest rates, th is accounting classification support s certain of the Group’s asset liability management objectives, e.g. maturity transformation. The Group reclassified € 3.2 billion of securities held Available for Sale to Held to Maturity investments effective January 4, 2016. All reclassified assets are high quality Government, supranational and agency bonds and are managed by Group Treasury as part of the Group’s Strategic Liquidity Reserve. Carrying values and fair values of financial assets reclassified from Available for Sale to Held to Maturity Dec 31, 2018 Dec 31, 2017 in € m. Carrying Fair Carrying Fair Debt securities reclassified: G7 Government bonds N/A N/A 423 434 Other Government, supranational and agency bonds N/A N/A 2,747 2,804 Total financial assets reclassified to Held-to-Maturity N/A N/A 3,170 3,238 |
Equity Method Investments
Equity Method Investments | 12 Months Ended |
Dec. 31, 2018 | |
Equity Method Investments [Abstract] | |
Disclosure of investments accounted for using equity method [text block] | Equity Method Investments Investments in associates and jointly controlled entities are accounted for using the equity method of accounting. The Group holds interests in 65 (2017: 77 ) associates and 13 (2017: 13 ) jointly controlled entities. Two associates are considered to be material to the Group . Significant investments as of December 31, 2018 1 Investment Principal place of business Nature of relationship Ownership percentage Huarong Rongde Asset Management Company Limited Beijing, China Strategic Investment 40.7 % Harvest Fund Management Co., Ltd. Shanghai, China Strategic Investment 30.0 % 1 T he Group has significant influence over these investees through its holding percentage and representation on the board seats. Summari z ed financial information on Huarong Rongd e Asset Management Company Limited 1 in € m. Dec 31, 2017 Dec 31, 2016 Total net revenues 197 193 Net income 157 146 Other comprehensive income (19) (2) Total comprehensive income 2 138 143 in € m. Dec 31, 2017 Dec 31, 2016 Total assets 7,058 5,243 Total liabilities 5,579 4,052 Noncontrolling Interest 739 534 Net assets of the equity method investee 740 657 1 Due to the difference in reporting timelines for the Group and Huarong Rongde Asset Management Company Limited Equity method accounting was performed for December 2018 based on December 2017 PRC GAAP audited financials and for December 2017 based on December 2016 PRC GAAP audited financials. 2 The Group received dividends from Huarong Rongde Asset Management Company Limited of € 17 million during the reporting period 2018 (2017: € 23 million ) Reconciliation of total net assets of Huarong Ron gde Asset Management Company Limited to the Group’s carrying amount 1 in € m. Dec 31, 2017 Dec 31, 2016 Net assets of the equity method investee 740 657 Group's ownership percentage on the investee's equity 40.7 % 40.7 % Group's share of net assets 301 268 Goodwill 0 0 Intangible Assets 0 0 Other adjustments (17 ) (22 ) Carrying amount 2 284 246 1 Due to the difference in reporting timelines for the Group and Huarong Rongde Asset Management Company Limited Equity method accounting was performed for December 2018 based on December 2017 PRC GAAP audited financials and for December 2017 based on December 2016 PRC GAAP audited financials. 2 There is no impairment loss in 2018 and 2017 Summari z ed financial information on Harvest Fund Management Co., Ltd. in € m. Dec 31, 2018 1 Dec 31, 2017 2 Total net revenues 597 537 Net income 162 152 Other comprehensive income 1 (1) Total comprehensive income 3 163 150 in € m. Dec 31, 2018 Dec 31, 2017 Total assets 1,123 1,448 Total liabilities 398 853 Noncontrolling Interest 45 24 Net assets of the equity method investee 681 571 1 December 2018 numbers are based on 2018 unaudited financials 2 December 2017 numbers are based on 2017 audited financials 3 The Group received dividends from Harvest Fund Management Co., Ltd. of € 12 million during the reporting period 2018 (2017: € 7 million ) Reconciliation of total net assets of Harvest Fund Management Co., Ltd. to the Group’s carrying amount in € m. Dec 31, 2018 1 Dec 31, 2017 2 Net assets of the equity method investee 681 571 Group's ownership percentage on the investee's equity 30 % 30 % Group's share of net assets 204 171 Goodwill 17 16 Intangible Assets 14 14 Other adjustments 1 4 Carrying amount 3 236 205 1 December 2018 numbers are based on 2018 unaudited financials 2 December 2017 numbers are based on 2017 audited financials 3 There is no impairment loss in 2018 ( € 1 million in 2017) Aggregated financial information on the Group’s share in associates and joint ventures that are individually immaterial in € m. Dec 31, 2018 Dec 31, 2017 Carrying amount of all associates that are individually immaterial to the Group 359 415 Aggregated amount of the Group's share of profit (loss) from continuing operations 30 35 Aggregated amount of the Group's share of post-tax profit (loss) from discontinued operations 0 0 Aggregated amount of the Group's share of other comprehensive income (8 ) (33 ) Aggregated amount of the Group's share of total comprehensive income 22 2 |
Offsetting Financial Assets and
Offsetting Financial Assets and Financial Liabilities | 12 Months Ended |
Dec. 31, 2018 | |
Offsetting Financial Assets and Financial Liabilities [Abstract] | |
Disclosure of offsetting of financial assets and financial liabilities [text block] | Offsetting Financial Assets and Financial Liabilities The Group is eligible to present certain financial assets and financial liabilities on a net basis on the balance sheet pursuant to criteria described in Note 1 “Significant Accounting Policies and Critical Accounting Estimates: Offsetting Financial Instruments”. The following tables provide information on the impact of offsetting on the consolidated balance sheet, as well as the financial impact of netting for instruments subject to an enforceable master netting arrangement or similar agreement as well as available cash and financial instrument collateral. Assets Dec 31, 2018 Net Amounts not set off on the balance sheet in € m. Gross Gross Impact of Cash Financial Net amount Central bank funds sold and securities purchased 8,194 (2,629 ) 5,565 0 0 (5,565 ) 0 Central bank funds sold and securities purchased 2,656 0 2,656 0 0 (2,169 ) 488 Securities borrowed (enforceable) 3,157 0 3,157 0 0 (3,055 ) 102 Securities borrowed (non-enforceable) 239 0 239 0 0 (239 ) 0 Financial assets at fair value through profit or loss (enforceable) 435,306 (73,286 ) 362,020 (250,476 ) (39,006 ) (63,733 ) 8,805 Of which: Positive market values from derivative financial instruments (enforceable) 324,348 (19,269 ) 305,080 (250,231 ) (38,731 ) (6,682 ) 9,436 Financial assets at fair value through profit or loss (non-enforceable) 211,323 0 211,323 0 (1,858 ) (12,013 ) 197,452 Of which: Positive market values from derivative financial instruments (non-enforceable) 14,978 0 14,978 0 (1,858 ) (1,277 ) 11,843 Total financial assets at fair value through profit 646,629 (73,286 ) 573,344 (250,476 ) (40,864 ) (75,746 ) 206,257 Loans at amortized cost 400,297 0 400,297 0 (13,505 ) (39,048 ) 347,743 Other assets 107,633 (14,189 ) 93,444 (29,073 ) (522 ) (92 ) 63,757 Of which: Positive market values from derivatives qualifying for hedge accounting (enforceable) 3,451 (423 ) 3,028 (2,347 ) (520 ) (92 ) 69 Remaining assets subject to netting 1,097 0 1,097 0 0 (621 ) 475 Remaining assets not subject to netting 268,338 0 268,338 0 (227 ) (1,540 ) 266,571 Total assets 1,438,241 (90,104 ) 1,348,137 (279,550 ) (55,118 ) (128,075 ) 885,394 1 Excludes real estate and other non-financial instrument collateral. Liabilities Dec 31, 2018 Net Amounts not set off on the balance sheet in € Gross Gross Impact of Cash Financial Net amount Deposits 564,405 0 564,405 0 0 0 564,405 Central bank funds purchased and securities sold 7,145 (3,677 ) 3,468 0 0 (3,468 ) 0 Central bank funds purchased and securities sold 1,399 0 1,399 0 0 (1,140 ) 259 Securities loaned (enforceable) 3,164 0 3,164 0 0 (3,164 ) 0 Securities loaned (non-enforceable) 195 0 195 0 0 (164 ) 31 Financial liabilities at fair value through profit or loss (enforceable) 399,625 (71,469 ) 328,156 (251,495 ) (25,232 ) (40,935 ) 10,493 Of which: Negative market values from derivative financial instruments (enforceable) 309,401 (18,978 ) 290,423 (250,908 ) (25,232 ) (4,805 ) 9,478 Financial liabilities at fair value through profit or loss (non-enforceable) 87,524 0 87,524 0 (2,301 ) (11,268 ) 73,955 Of which: Negative market values from derivative financial instruments (non-enforceable) 11,064 0 11,064 0 (1,494 ) (573 ) 8,996 Total financial liabilities at fair value through profit 487,149 (71,469 ) 415,680 (251,495 ) (27,533 ) (52,204 ) 84,448 Other liabilities 132,470 (14,957 ) 117,513 (42,260 ) (73 ) (158 ) 75,022 Of which: Negative market values from derivatives qualifying for hedge accounting (enforceable) 2,537 (615 ) 1,922 (1,670 ) (71 ) (158 ) 23 Remaining liabilities not subject to netting 173,577 0 173,577 0 0 0 173,577 Total liabilities 1,369,503 (90,104 ) 1,279,400 (293,755 ) (27,606 ) (60,297 ) 897,742 Assets Dec 31, 2017 Net Amounts not set off on the balance sheet in € m. Gross Gross Impact of Cash Financial Net amount Central bank funds sold and securities purchased 8,136 (455 ) 7,681 0 0 (7,675 ) 7 Central bank funds sold and securities purchased 2,290 0 2,290 0 0 (2,239 ) 51 Securities borrowed (enforceable) 14,987 0 14,987 0 0 (14,093 ) 894 Securities borrowed (non-enforceable) 1,744 0 1,744 0 0 (1,661 ) 83 Financial assets at fair value through profit or loss Trading assets 185,127 (465 ) 184,661 0 (81 ) (86 ) 184,495 Positive market values from derivative financial 363,859 (18,237 ) 345,622 (285,421 ) (41,842 ) (7,868 ) 10,490 Positive market values from derivative financial 15,410 0 15,410 0 (1,811 ) (1,276 ) 12,323 Financial assets designated at fair value through 125,869 (64,003 ) 61,865 (728 ) (773 ) (56,410 ) 3,954 Financial assets designated at fair value through 29,411 0 29,411 0 0 (20,534 ) 8,876 Total financial assets at fair value through profit 719,676 (82,706 ) 636,970 (286,149 ) (44,508 ) (86,174 ) 220,138 Loans 401,699 0 401,699 0 (12,642 ) (40,775 ) 348,282 Other assets 112,023 (10,531 ) 101,491 (29,854 ) (569 ) (94 ) 70,975 of which: Positive market values from derivatives qualifying for hedge accounting (enforceable) 3,859 (706 ) 3,153 (2,461 ) (565 ) (94 ) 33 Remaining assets not subject to netting 307,869 0 307,869 0 (390 ) (70 ) 307,409 Total assets 1,568,425 (93,692 ) 1,474,732 (316,003 ) (58,109 ) (152,782 ) 947,839 1 Excludes real estate and other n on -f inancial i nstrument collateral . Liabilities Dec 31, 2017 Net Amounts not set off on the balance sheet in € Gross Gross Impact of Cash Financial Net amount Deposits 581,873 0 581,873 0 0 0 581,873 Central bank funds purchased and securities sold 13,318 (455 ) 12,863 0 0 (12,863 ) 0 Central bank funds purchased and securities sold 5,242 0 5,242 0 0 (4,985 ) 257 Securities loaned (enforceable) 6,688 0 6,688 0 0 (6,688 ) 0 Securities loaned (non-enforceable) 0 0 0 0 0 0 0 Financial liabilities at fair value through profit or loss Trading liabilities 72,106 (643 ) 71,462 0 0 0 71,462 Negative market values from derivative financial 347,496 (17,928 ) 329,568 (286,720 ) (25,480 ) (6,124 ) 11,244 Negative market values from derivative financial 13,158 0 13,158 0 (1,913 ) (615 ) 10,630 Financial liabilities designated at fair value through 104,594 (63,360 ) 41,234 (728 ) 0 (40,506 ) 0 Financial liabilities designated at fair value through 23,214 0 23,214 0 1,111 (13,646 ) 10,679 Total financial liabilities at fair value through profit 560,568 (81,932 ) 478,636 (287,448 ) (26,282 ) (60,891 ) 104,015 Other liabilities 143,514 (11,306 ) 132,208 (44,815 ) (31 ) (87 ) 87,275 of which: Negative market values from derivatives qualifying for hedge accounting (enforceable) 1,841 (547 ) 1,294 (1,162 ) (31 ) (87 ) 15 Remaining liabilities not subject to netting 189,122 0 189,122 0 0 0 189,122 Total liabilities 1,500,326 (93,692 ) 1,406,633 (332,263 ) (26,314 ) (85,514 ) 962,542 The column ‘Gross amounts set off on the balance sheet’ discloses the amounts offset in accordance with all the criteria described in Note 1 “Significant Accounting Policies and Critical Accounting Estimates: Offsetting Financial Instruments”. The column ‘Impact of Master Netting Agreements’ discloses the amounts that are subject to master netting agreements but were not offset because they did not meet the net settlement/simultaneous settlement criteria; or because the rights of set off are conditional upon the default of the counterparty only. The amounts presented for other assets and other liabilities include cash margin receivables and payables respectively. The columns ‘Cash collateral’ and ‘Financial instrument collateral’ disclose the cash and financial instrument collateral amounts received or pledged in relation to the total amounts of assets and liabilities, including those that were not offset. Non-enforceable master netting agreements or similar agreements refer to contracts executed in jurisdictions where the rights of set off may not be upheld under the local bankruptcy laws. The cash collateral received against the positive market values of derivatives and the cash collateral pledged towards the negative mark-to-market values of derivatives are booked within the ‘Other liabilities’ and ‘Other assets’ balances respectively. The Cash and Financial instrument collateral amounts disclosed reflect their fair values. The rights of set off relating to the cash and financial instrument collateral are conditional upon the default of the counterparty. |
Loans
Loans | 12 Months Ended |
Dec. 31, 2018 | |
Loans [Abstract] | |
Disclosure of loans [text block] | Loans For 2018, we provide information following the IFRS 9 accounting standard, while 2017 numbers are based on the IAS 39 accounting rules and are presented in the old format. Since the accounting requirements have changed significantly, numbers are not comparable. In previous years only Loans classified at amortized co st under IAS 39 were considered . Now the entire loan book is presented, including Loans classified at amortized cost, loans mandatory at fair value through profit and loss and loans at fair value through other consolidated income. For further information please refer to chapter “IFRS 9 Transition Impact Analysis” in Note 2 “Recently Adopted and New Accounting Pronouncements” to the consolidated financial statement. The below table gives an overview of our loan exposure by industry, allocated based on the NACE code of the counterparty. NACE (Nomenclature des Activités Économiques dans la Communauté Européenne) is a standard European industry classification system. Current year table provides further breakdown on industry to increase the transparency. L oans by industry classification in € m. Dec 31, 2018 Agriculture, forestry and fishing 655 Mining and quarrying 3,699 Manufacturing 30,966 Electricity, gas, steam and air conditioning supply 3,555 Water supply, sewerage, waste management and remediation activities 895 Construction 4,421 Wholesale and retail trade, repair of motor vehicles and motorcycles 21,871 Transport and storage 6,548 Accommodation and food service activities 2,094 Information and communication 5,281 Financial and insurance activities 93,886 Real estate activities 35,153 Professional, scientific and technical activities 7,020 Administrative and support service activities 7,921 Public administration and defense, compulsory social security 10,752 Education 698 Human health services and social work activities 3,618 Arts, entertainment and recreation 951 Other service activities 5,328 Activities of households as employers, undifferentiated goods- and services-producing activities of households for own use 188,494 Activities of extraterritorial organizations and bodies 25 Gross loans 433,832 (Deferred expense)/unearned income 254 Loans less (deferred expense)/unearned income 433,578 Less: Allowance for loan losses 4,247 Total loans 429,331 in € m. Dec 31, 2017 Financial intermediation 52,204 Manufacturing 27,478 of which: Basic metals and fabricated metal products 4,211 Electrical and optical equipment 3,386 Transport equipment 3,374 Chemicals and chemical products 3,623 Machinery and equipment 3,191 Food products 2,907 Households (excluding mortgages) 36,524 Households – mortgages 150,205 Public sector 13,711 Wholesale and retail trade 19,252 Commercial real estate activities 29,247 Lease financing 384 Fund management activities 18,708 Other 58,167 of which: Renting of machinery and other business activities 26,559 Transport, storage and communication 9,243 Mining and quarrying of energy-producing materials 2,553 Electricity, gas and water supply 3,552 Gross loans 405,879 (Deferred expense)/unearned income 259 Loans less (deferred expense)/unearned income 405,621 Less: Allowance for loan losses 3,921 Total loans 401,699 |
Allowance for Credit Losses
Allowance for Credit Losses | 12 Months Ended |
Dec. 31, 2018 | |
Allowance for Credit Losses [Abstract] | |
Disclosure of allowance for credit losses [text block] | Allowance for Credit Losses The allowance for credit losses consists of an allowance for loan losses and an allowance for off-balance sheet positions. Development of allowance for credit losses for financial assets at amortized cost Dec 31, 2018 Allowance for Credit Losses 3 in € m. Stage 1 Stage 2 Stage 3 Stage 3 POCI Total Balance, beginning of year 462 494 3,638 3 4,596 Movements in financial assets including new business (132 ) 215 440 (17 ) 507 Transfers due to changes in creditworthiness 199 (137 ) (62 ) N/M 0 Changes due to modifications that did not result in N/M N/M N/M N/M N/M Changes in models 0 0 0 0 0 Financial assets that have been derecognized during the period² (6 ) (17 ) (972 ) 0 (995 ) Recovery of written off amounts 0 0 172 0 172 Foreign exchange and other changes (14 ) (54 ) 30 17 (21 ) Balance, end of reporting period 509 501 3,247 3 4,259 Provision for Credit Losses excluding country risk 1 66 78 379 (17 ) 507 1 Movements in financial assets including new business, transfers due to changes in creditworthiness and changes in models add up to Provision for Credit Losses excluding country risk. 2 This position includes charge offs of allowance for credit losses. 3 Allowance for credit losses does not include allowance for country risk amounting to € 6 million as of December 31, 2018 . Allowance for credit losses for financial assets at fair value through OCI 1 Dec 31, 2018 Allowance for Credit Losses in € m. Stage 1 Stage 2 Stage 3 Stage 3 POCI Total Fair Value through OCI 11 1 0 (0 ) 13 1 Allowance for credit losses against f inancial assets at fair value through OCI were almost unchanged at very low levels ( € 12 million at the beginning of year 2018 and € 13 million as of December 31, 2018, respectively). Due to immateriality, we do not provide any details on the year-over-year development. Development of allowance for credit losses for Off-balance sheet positions Dec 31, 2018 Allowance for Credit Losses 2 in € m. Stage 1 Stage 2 Stage 3 Stage 3 POCI Total Balance, beginning of year 117 36 119 0 272 Movements including new business 0 31 (13 ) 0 18 Transfers due to changes in creditworthiness 2 0 (2 ) N/M 0 Changes in models N/M N/M N/M N/M N/M Foreign exchange and other changes 14 6 (20 ) 0 0 Balance, end of reporting period 132 73 84 0 289 Provision for Credit Losses excluding country risk 1 1 31 (15 ) 0 18 1 The above table breaks down the impact on provision for credit losses from movements in financial assets including new business, transfers due to changes in creditworthiness and changes in models. 2 Allowance for credit losses does not include allowance for country risk amounting to € 5 million as of December 31, 2018 . B reakdown of the movements in the Group’s allowance for loan losses (as previously reported under IAS 39) 2017 2016 in € m. Individually Collectively Total Individually Collectively Total Allowance, beginning of year 2,071 2,475 4,546 2,252 2,776 5,028 Provision for loan losses 299 253 552 743 604 1,347 Net charge-offs: (487 ) (532 ) (1,019 ) (894 ) (870 ) (1,764 ) Charge-offs (541 ) (605 ) (1,146 ) (979 ) (972 ) (1,951 ) Recoveries 54 73 127 85 101 187 Other Changes (117 ) (41 ) (158 ) (30 ) (35 ) (65 ) Allowance, end of year 1,766 2,155 3,921 2,071 2,475 4,546 A ctivity in the Group’s allowance for off-balance sheet positions ( contingent liabilities and lending commitments ), (as previously reported under IAS 39) 2017 2016 in € m. Individually Collectively Total Individually Collectively Total Allowance, beginning of year 162 183 346 144 168 312 Provision for off-balance sheet positions (23 ) (4 ) (27 ) 24 12 36 Usage 0 0 0 0 0 0 Other changes (18 ) (16 ) (34 ) (5 ) 3 (2 ) Allowance, end of year 122 163 285 162 183 346 |
Transfers of Financial Assets
Transfers of Financial Assets | 12 Months Ended |
Dec. 31, 2018 | |
Transfers of Financial Assets [Abstract] | |
Disclosure of transfers of financial assets [text block] | Transfer of Financial Assets, Assets Pledged and Received as Collateral The Group enters into transactions in which it transfers financial assets held on the balance sheet and as a result may either be eligible to derecognize the transferred asset in its entirety or must continue to recognize the transferred asset to the extent of any continuing involvement, depending on certain criteria. These criteria are discussed in Note 1 “ Significant Accounting Policies and Critical Accounting Estimates ”. Where financial assets are not eligible to be derecognized, the transfers are viewed as secured financing transactions, with any consideration received resulting in a corresponding liability. The Group is not entitled to use these financial assets for any other purposes. The most common transactions of this nature entered into by the Group are repurchase agreements, securities lending agreements and total return swaps, in which the Group retains substantially all of the associated credit, equity price, interest rate and foreign exchange risks and rewards associated with the assets as well as the associated income streams. Information on asset types and associated transactions that did not qualify for derecognition in € m. Dec 31, 2018 Dec 31, 2017¹ Carrying amount of transferred assets Trading securities not derecognized due to the following transactions: Repurchase agreements 33,980 43,025 Securities lending agreements 41,621 58,076 Total return swaps 1,835 2,390 Other 6,589 12,661 Total trading securities 84,025 116,153 Other trading assets 69 71 Non-trading financial assets mandatory at fair value through profit or loss 1,289 N/A Financial assets available for sale N/A 711 Financial assets at fair value through other comprehensive income 4,286 N/A Loans at amortized cost 2 408 131 Total 90,076 117,066 Carrying amount of associated liabilities 46,218 51,937 1 Prior year numbers have been restated following reassessments of certain repurchase transactions . 2 Loans where the associated liability is recourse only to the transferred assets had a carrying value and fair value of € 0 million at December 31, 2018 and € 108 million at December 31, 2017. The associated liabilities had the same carrying value and fair value which resulted in a net position of 0 . Carrying value of assets transferred in which the Group still accounts for the asset to the extent of its continuing involvement in € m. Dec 31, 2018 Dec 31, 2017 Carrying amount of the original assets transferred Trading securities 759 0 Financial assets designated at fair value through profit or loss 306 291 Non-trading financial assets mandatory at fair value through profit or loss 386 N/A Financial assets available for sale N/A 386 Carrying amount of the assets continued to be recognized Trading securities 35 0 Financial assets designated at fair value through profit or loss 15 15 Non-trading financial assets mandatory at fair value through profit or loss 43 N/A Financial assets available for sale N/A 96 Carrying amount of associated liabilities 117 54 The Group could retain some exposure to the future performance of a transferred asset either through new or existing contractual rights and obligations and still be eligible to derecognize the asset. This ongoing involvement will be recognized as a new instrument which may be different from the original financial asset that was transferred. Typical transactions include retaining senior notes of non-consolidated securitizations to which originated loans have been transferred; financing arrangements with structured entities to which the Group has sold a portfolio of assets; or sales of assets with credit-contingent swaps. The Group’s exposure to such transactions is not considered to be significant as any substantial retention of risks associated with the transferred asset will commonly result in an initial failure to derecognize. Transactions not considered to result in an ongoing involvement include normal warranties on fraudulent activities that could invalidate a transfer in the event of legal action, qualifying pass-through arrangements and standard trustee or administrative fees that are not linked to performance. The impact on the Group’s Balance Sheet of on-going involvement associated with transferred assets derecognized in full Dec 31,2018 Dec 31,2017 in € m. Carrying Fair value Maximum Carrying Fair value Maximum Loans at amortized cost Securitization notes 372 372 372 270 270 270 Other 14 14 14 13 13 13 Total Loans at amortized cost 385 385 385 284 284 284 Financial assets held at Fair Value through the P&L Securitization notes 22 22 22 0 0 0 Non-standard Interest Rate, cross-currency or inflation-linked swap 5 5 5 36 36 36 Total Financial assets held at Fair Value through the P&L 27 27 27 36 36 36 Financial assets at fair value through other comprehensive income: Securitization notes 112 112 112 0 0 0 Other 0 0 0 0 0 0 Total Financial assets at fair value through other comprehensive income 112 112 112 0 0 0 Total financial assets representing on-going involvement 524 524 524 320 320 320 Financial liabilities held at Fair Value through P&L Non-standard Interest Rate, cross-currency or inflation-linked swap 61 61 0 67 67 0 Total financial liabilities representing on-going involvement 61 61 0 67 67 0 1 The maximum exposure to loss is defined as the carrying value plus the notional value of any undrawn loan commitments not recognized as liabilities. The impact on the Group’s Statement of Income of on-going involvement associated with transferred assets derecognized in full Dec 31,2018 Dec 31,2017 in € m. Year-to- Cumulative Gain/(loss) Year-to- Cumulative Gain/(loss) Securitization notes 9 13 11 3 3 79 1 Non-standard Interest Rate, cross-currency or 21 268 0 46 510 0 Net gains/(losses) recognized from on-going 30 281 11 49 513 79 1 Typically, sales of assets into securitization vehicles were of assets that were classified as Fair Value through P&L, therefore any gain or loss on disposal is immaterial. The Group pledges assets primarily as collateral against secured funding and for repurchase agreements, securities borrowing agreements as well as other borrowing arrangements and for margining purposes on OTC derivative liabilities. Pledges are generally conducted under terms that are usual and customary for standard securitized borrowing contracts and other transactions described . Carrying value of the Group’s assets pledged as collateral for liabilities or contingent liabilities 1 in € m. Dec 31, 2018 Dec 31, 2017² Financial assets at fair value through profit or loss 41,816 54,134 Financial assets at fair value through other comprehensive income 4,274 N/A Financial assets available for sale N/A 6,469 Loans 75,641 71,404 Other 1,364 417 Total 123,095 132,423 1 Excludes assets pledged as collateral from transactions that do not result in liabilities or contingent liabilities. 2 Prior period results have been restated. Total assets pledged to creditors available for sale or repledge 1 in € m. Dec 31, 2018 Dec 31, 2017² Financial assets at fair value through profit or loss 45,640 71,278 Financial assets at fair value through other comprehensive income 3,201 N/A Financial assets available for sale N/A 0 Loans 11 0 Total 48,851 71,278 1 Includes assets pledged as collateral from transactions that do not result in liabilities or contingent liabilities. 2 Prior period results have been restated. The Group receives collateral primarily in reverse repurchase agreements, securities lending agreements, derivatives transactions, customer margin loans and other transactions. These transactions are generally conducted under terms that are usual and customary for standard secured lending activities and the other transactions described. The Group, as the secured party, has the right to sell or re-pledge such collateral, subject to the Group returning equivalent securities upon completion of the transaction. This right is used primarily to cover short sales, securities loaned and securities sold under repurchase agreements. Fair Value of collateral received in € m. Dec 31, 2018 Dec 31, 2017¹ Securities and other financial assets accepted as collateral 292,474 366,312 thereof: Collateral sold or repledged 240,365 308,970 1 Prior period results have been restated. |
Property and Equipment
Property and Equipment | 12 Months Ended |
Dec. 31, 2018 | |
Property and Equipment [Abstract] | |
Disclosure of Property and Equipment [text block] | Property and Equipment in € m. Owner Furniture and Leasehold Construction- Total Cost of acquisition: Balance as of January 1, 2017 1,516 2,406 2,820 240 6,982 Changes in the group of consolidated companies 0 (8 ) (1 ) 0 (9 ) Additions 12 165 117 191 485 Transfers 18 75 191 (288 ) (4 ) Reclassifications (to)/from “held for sale” (61 ) 0 0 0 (61 ) Disposals 96 97 291 0 484 Exchange rate changes (3 ) (67 ) (92 ) (4 ) (166 ) Balance as of December 31, 2017 1,387 2,473 2,743 139 6,743 Changes in the group of consolidated companies 0 141 (2 ) 0 139 Additions 11 150 155 150 465 Transfers (8 ) (4 ) 106 (147 ) (53 ) Reclassifications (to)/from “held for sale” (478 ) (30 ) (27 ) (2 ) (538 ) Disposals 134 291 144 0 569 Exchange rate changes 1 164 29 1 195 Balance as of December 31, 2018 778 2,602 2,860 142 6,382 Accumulated depreciation and impairment: Balance as of January 1, 2017 572 1,720 1,886 0 4,178 Changes in the group of consolidated companies 0 (8 ) (1 ) 0 (9 ) Depreciation 37 211 193 0 441 Impairment losses 15 3 2 0 19 Reversals of impairment losses 0 (1 ) 0 0 (1 ) Transfers 1 17 (22 ) 0 (4 ) Reclassifications (to)/from “held for sale” (0 ) 0 0 0 (0 ) Disposals 44 90 284 0 418 Exchange rate changes (1 ) (54 ) (72 ) 0 (128 ) Balance as of December 31, 2017 579 1,800 1,702 0 4,080 Changes in the group of consolidated companies (0 ) 28 (1 ) 0 27 Depreciation 28 206 197 0 430 Impairment losses 3 3 3 0 9 Reversals of impairment losses 37 0 0 0 37 Transfers (13 ) 48 (5 ) 0 30 Reclassifications (to)/from “held for sale” (215 ) (40 ) (22 ) 0 (277 ) Disposals 17 281 128 0 426 Exchange rate changes 1 99 24 0 125 Balance as of December 31, 2018 328 1,862 1,770 0 3,960 Carrying amount: Balance as of December 31, 2017 809 673 1,041 139 2,663 Balance as of December 31, 2018 450 740 1,090 142 2,421 Impairment losses on property and equipment are recorded within genera l and administrative expenses for the income statement. The carrying value of items of property and equipment on which there is a restriction on sale was € 42 million and € 40 million as of December 31, 2018 and December 31, 2017, respectively. Commitments for the acquisition of property and equipment we re € 273 million at year-end 2018 and € 41 million at year-end 2017. |
Leases
Leases | 12 Months Ended |
Dec. 31, 2018 | |
Leases [Abstract] | |
Disclosure of leases [text block] | Leases The Group is lessee under lease arrangements covering property and equipment. Finance Lease Commitments Most of the Group’s finance lease arrangements are made under usual terms and conditions. Net Carrying Value of Leasing Assets Held under finance leases in € m. Dec 31, 2018 Dec 31, 2017 Land and buildings 28 14 Furniture and equipment 0 4 Other 0 0 Net carrying value 28 18 Future Minimum Lease Payments Required under the Group’s Finance Leases in € m. Dec 31, 2018 Dec 31, 2017 Future minimum lease payments: Not later than one year 19 8 Later than one year and not later than five years 34 20 Later than five years 65 70 Total future minimum lease payments 118 98 Less: Future interest charges 91 70 Present value of finance lease commitments 27 28 Future minimum lease payments to be received 5 0 Contingent rent recognized in the income statement¹ 0 0 1 The contingent rent is based on market interest rates, such as three months EURIBOR; below a certain rate the Group receives a rebate . Operating Lease Commitments The Group leases the majority of its offices and branches under long-term agreements. Most of the lease contracts are made u nder usual terms and conditions, which means they include options to extend the lease by a defined amount of time, price adjustment clauses and escalation clauses in line with general office rental market conditions. However, the lease agreements do not include any clauses that impose any restriction on the Group’s ability to pay dividends, engage in debt financing transactions or enter into further lease agreements. Future Minimum Lease Payments Required under the Group’s Operating Leases in € m. Dec 31, 2018 Dec 31, 2017 Future minimum rental payments: Not later than one year 707 684 Later than one year and not later than five years 2,077 1,979 Later than five years 3,480 1,901 Total future minimum rental payments 6,264 4,564 Less: Future minimum rentals to be received 20 58 Net future minimum rental payments 6,244 4,506 As of December 31, 201 8 , the total future minimum rental payments included € 441 million for the Group headquarters in Frankfurt am Main that was sold and leased back on December 1, 2011. The Group entered into a 181 months leaseback arrangement for the entire facility in connection with the transaction , which also includes the option to extend the lease for an additional 5 year period up to 2031 . In 20 18 , the rental payments for lease and sublease agreements amounted to € 747 million . This included charges of € 769 million for minimum lease payments and € 20 million related to sublease rentals received. |
Goodwill and Other Intangible A
Goodwill and Other Intangible Assets | 12 Months Ended |
Dec. 31, 2018 | |
Goodwill and Other Intangible Assets [Abstract] | |
Disclosure of intangible assets and goodwill [text block] | Goodwill and Other Intangible Assets Goodwill Changes in Goodwill The changes in the carrying amount of goodwill, as well as gross amounts and accumulated impairment losses of goodwill, for the years ended December 31, 201 8 , and December 31, 201 7 , are shown below by cash-generating units (“CGU”). As of January 1, 2016, the structure of the primary CGUs had been changed as a result of the reorganization of business operations under an amended segment structure. In the second quarter of 2017 and in accordance with the strategy announcement made on March 5, 2017 , the Group’s business operations we re reorganized under a new divisional structure , which also reconfigured the existing Global Markets, Corporate Finance and Global Transaction Banking businesses into a single division, Corporate & Investment Bank (CIB ). A review of CIB confirmed the previous assessment of two separate CGUs. Consequently, the former primary CGUs “Global Markets” and “Corporate & Investment Banking” have been grouped as “Sales & Trading” (S&T) and “Global Transaction Banking & Corporate Finance” ( GTB & CF ). Please also refer to Note 4, “Business Segments and Related Information” for more information regarding changes in the presentation of segment disclosures. Goodwill allocated to cash-generating units in € m. Sales & Global Private and Postbank Wealth Asset Others Total Balance as of 0 532 0 0 564 3,006 1 4,103 Goodwill acquired during 0 0 0 0 0 0 0 0 Purchase accounting 0 0 0 0 0 0 0 0 Transfers 6 (6 ) 0 0 0 0 0 0 Reclassification from (to) 0 (3 ) 0 0 0 0 0 (3 ) Goodwill related to 0 0 0 0 0 (6 ) 0 (6 ) Impairment losses 1 (6 ) 0 0 0 0 0 0 (6 ) Exchange rate 0 (52 ) 0 0 (22 ) (231 ) 0 (306 ) Balance as of 0 471 0 0 541 2,768 1 3,782 Gross amount of goodwill 2,780 1,485 1,077 2,086 541 3,232 1 11,203 Accumulated impairment (2,780 ) (1,014 ) (1,077 ) (2,086 ) 0 (464 ) 0 (7,422 ) Balance as of 0 471 0 0 541 2,768 1 3,782 Goodwill acquired during 0 0 0 0 0 0 0 0 Purchase accounting 0 0 0 0 0 0 0 0 Transfers 0 0 0 0 0 0 0 0 Reclassification from (to) 0 0 0 0 (4 ) 0 0 (4 ) Goodwill related to 0 0 0 0 0 0 0 0 Impairment losses 1 0 0 0 0 0 0 0 0 Exchange rate 0 18 0 0 5 74 0 98 Balance as of 0 489 0 0 543 2,843 1 3,876 Gross amount of goodwill 2,889 1,539 1,076 2,086 543 3,314 1 11,449 Accumulated impairment (2,889 ) (1,051 ) (1,076 ) (2,086 ) 0 (471 ) 0 (7,573 ) 1 Impairment losses of goodwill are recorded as impairment of goodwill and other intangible assets in the income statement. In addition to the primary CGUs, the segment CIB includes goodwill resulting from the acquisition of a nonintegrated investment which is not allocated to the respective segment’ primary CGU. Such goodwill is summarized as “Others” in the table above. Changes in goodwill for both 2017 and 2018 mainly reflected exchange rate fluctuations, predominantly related to the translation of goodwill held in USD. In 2016, changes in goodwill mainly included impairments of € 785 million in Sales & Trading (S&T) ( € 285 million ) and Asset Management ( € 500 million ). The impairment in S&T was the result of a transfer of certain businesses from Asset Management to S&T in the second quarter 2016. The transfer resulted in the re assignment of € 285 million of goodwill from Asset Management based on relative values in accordance with IFRS. The subsequent impairment review of S&T led to an impairment loss of € 285 million of the reassigned goodwill . The goodwill impairment in Asset Management was recorded in the fourth quarter 2016 in relation to the sale of the Abbey Life business and the formation of a disposal group held for sale. Immediately before its initial classification as a disposal group , the carrying amounts of all assets and liabilities included in the Abbey Life disposal group were measured and recognized in accordance with applicable IFRS. With the sale of Abbey Life to close for an amount lower than its carrying amount, the proportion of Asset Management CGU goodwill attributable to the Abbey Life business was not expected to be recovered upon sale of the disposal group . Accordingly, the allocated goodwill amount of € 500 million as well as other intangible assets (value of business acquired, VOBA) of € 515 million included in the disposal group were considered impaired and written-off through Impairment of goodwill and other intangible assets. Goodwill Impairment Test For the purposes of impairment testing, goodwill acquired in a business combination is allocated to CGUs. On the basis as described in Note 1 “ Significant Accounting Policies and Critical Accounting Estimates”, t he Group’s primary CGUs are as outlined above. “Other” goodwill is tested individually for impairment on the level of each of the nonintegrated investments. Goodwill is tested for impairment annually in the fourth quarter by comparing the recoverable amount of each goodwill-carrying CGU with its carrying amount. In addition, in accordance with IAS 36, the Group tests goodwill whenever a triggering event is identified. The recoverable amount is the higher of a CGU’s fair value less costs of disposal and its value in use. The annual goodwill impairment tests conducted in 2018 and 2017 did not result in an impairment loss on the Group’s primary goodwill-carrying CGUs as the recoverable amounts of these CGUs were higher than the respective carrying amounts . A review of the Group’s strategy or certain political or global risks for the banking industry such as a return of the European sovereign debt crisis, uncertainties regarding the implementation of already adopted regulation and the introduction of legislation that is already under discussion as well as a slowdown of GDP growth may negatively impact the performance forecasts of certain of the Group’s CGUs and, thus, could result in an impairment of goodwill in the future. Carrying Amount The carrying amount of a primary CGU is derived using a capital allocation model based on the Shareholders’ Equity Allocation Framework of the Group (please refer to Note 4, “Business Segments and Related Information ” for more details) . The allocation uses the Group’s total equity at the date of valuation, including Additional Tier 1 Notes (“AT1 Notes”), which constitute unsecured and subordinated notes of Deutsche Bank and which are classified as Additional equity components in accordance with IFRS. Total equity is adjusted for specific effects related to nonintegrated investments, which are tested separately for impairment as outlined above, and for an add-on adjustment for goodwill attributable to noncontrolling interests. Recoverable Amount The Group determines the recoverable amounts of its primary CGUs on the basis of the higher of value in use and fair value less costs of disposal (Level 3 of the fair value hierarchy) . It employs a discounted cash flow (DCF) model, which reflects the specifics of the banking business and its regulatory environment. The model calculates the present value of the estimated future earnings that are distributable to shareholders after fulfilling the respective regulatory capital requirements. The recoverable amounts also include the fair value of the AT1 Notes, allocated to the primary CGUs consistent to their treatment in the carrying amount. The DCF model uses earnings projections and respective capitalization assumptions based on five-year financial plans as well as longer term expectations on the impact of regulatory developments , which are discounted to their present value. Estimating future earnings and capital requirements involves judgment and the consideration of past and current performances as well as expected developments in the respective markets, and in the overall macroeconomic and regulatory environments. Earnings projections beyond the initial five-year period are, where applicable, adjusted to derive a sustainable level and the cash flow to equity is assumed to increase by or converge towards a constant long-term growth rate of up to 3.1 % (2017: 3.2 % ). This is based on projected revenue forecasts of the CGUs as well as expectations for the development of gross domestic product and inflation, and is captured in the terminal value. Key Assumptions and Sensitivities Key Assumptions: The DCF value of a CGU is sensitive to the earnings projections, to the discount rate (cost of equity) applied and, to a much lesser extent, to the long-term growth rate. The discount rates applied have been determined based on the capital asset pricing model and comprise a risk-free interest rate, a market risk premium and a factor covering the systematic market risk (beta factor). The values for the risk-free interest rate, the market risk premium and the beta factors are determined using external sources of information. CGU-specific beta factors are determined based on a respective group of peer companies. Variations in all of these components might impact the discount rates. Primary goodwill-carrying cash-generating units Discount rate (post-tax) 2018 2017 Global Transaction Banking & Corporate Finance 8.8 % 8.8 % Wealth Management 9.0 % 9.1 % Asset Management 9.7 % 10.0 % Management determined the values for the key assumptions in the following table based on a combination of internal and external analysis. Estimates for efficiency and the cost reduction program are based on progress made to date and scheduled future projects and initiatives. Primary goodwill - c arrying cash-generating unit Description of key assumptions Uncertainty associated with key assumption s and potential events/circumstances that could have a negative effect Wealth Management Strategy continuously monitored to reflect key market trends and developments including global wealth creation and concentration, digitalization, aging population, transfer to next generation, product trends (e.g., ESG) as well as competitor activity and benchmarking Growth plans supported by continuous strengthening of our risk and control functions Multi-year organic investment program to expand our front-office staff focused in key growth markets where we have a distinctive and attractive client offering Continued focus on expanding business with high net worth and ultra-high net worth clients via a more segmented approach Building out of global investment advisory solutions as well as increasing revenues from collaboration between divisions (esp. CIB) Continued deployment of balance sheet for WM lending proposition Targeted investments in enhancing client experience through new digital offering, efficient on-boarding, broad product offering as well as approaching clients with a more nuanced client service model Benefit from cost savings coming through re-organization of our product and coverage teams into three regions (Americas, Europe, Emerging Markets) Major industry threats, i.e., market and exchange rate volatility, significant technological developments, geopolitical uncertainty Investors holding assets out of the markets, a retreat to cash or simpler, lower fee products, and reduced trading activity Business/execution risks, i.e., under achievement of net new money targets from market uncertainty, franchise instability, adverse developments , loss of high quality relationship managers Cost savings following efficiency gains and expected IT/ process improvements not realized to the extent planned Asset Management Deliver strong investment product performance Expand product suite in growth areas (e.g. alternatives, multi assets, passive, ESG investment schemes) while consolidating non-core strategies Consistent net flows leveraging market share leadership in Germany and the rest of Europe, while expanding coverage in Asia Pacific and focused growth in the Americas Diversification of intermediary coverage towards high growth channels and deployment of digital solutions to serve new channels Further efficiency through improved core operating processes, platform optimization and product rationalization Anticipation of further headwinds in the asset management industry as a result of the changing regulatory environment Challenging market environment and volatility unfavourable to our investment strategies Unfavourable margin development and adverse competition levels in key markets and products beyond expected levels Business/execution risks, e.g., under achievement of net flow targets from market uncertainty, loss of high quality client facing employees, unfavourable investment performance, lower than expected efficiency gains Uncertainty around regulation and its potential implications not yet anticipated Global Transaction Banking & Corporate Finance GTB Expectation to benefit from positive interest rate development in EU and the U.S. starting 2019 (largely U.S.), with increasing impacts in outer plan years Invest in technology transformation of core architecture (scale & client experience; security & controls) and build liquidity / collateral / risk management platforms Build-out product enhancements and offering; improve client wallet penetration internationally Liquidity and deposit initiatives, specifically in Cash management Continued Trade flow momentum and growth in structured trade book Improve client coverage across products (aligned to overall strategy of the newly created Institutional & Treasury coverage) CF Plan assumes slightly lower global revenue pool in 2019 compared to 2018, then modest increases in outer years DB expected to gain back market share across products post implementation of strategic updates in 2018 Build on momentum in market share growth in 2018 in leveraged finance IG refinancing opportunity (maturity walls in 2019) with outstanding IG debt levels still high Opportunities to regain / win market share in: Cross border business, where DB has been historically strong, but lost momentum in 2018 Financial sponsors (Global capital markets), where DB gained share in 2018 Generic Macro environment remains challenging, particularly in Europe Risk from the exit process of the U.K. from the European Union Potential adverse macroeconomic and geopolitical developments impa cting trade volumes, interest rates and foreign exchange movements GTB Further potential margin compression DB funding costs remaining higher Potential DB driven resource constraints limiting growth Compres sion of CTB budgets CF Lower than expected Corporate Finance fee pool development Deterioration of global credit Sensitivities : In order to test the resilience of the recoverable amount, key assumptions used in the DCF model (for example, the discount rate and the earnings projections) are sensitized. Management believes that no reasonable possible changes in key assumptions could cause an impairment loss. Other Intangible Assets C hanges of other intangible assets by asset classes for the years ended December 31, 201 8 , and December 31, 201 7 Purchased intangible assets Internally Total other Unamortized Amortized Amortized in € m. Retail Other Total Customer- Contract- Software Total Software Cost of acquisition/ Balance as of January 1, 2017 1,094 440 1,534 1,431 70 871 2,372 6,235 10,140 Additions 0 0 0 15 0 48 63 1,360 1,423 Changes in the group of 0 0 0 0 0 (35 ) (35 ) (171 ) (206 ) Disposals 0 0 0 0 0 21 21 121 142 Reclassifications from 0 0 0 (6 ) 0 0 (6 ) 0 (6 ) Transfers 0 (0 ) (0 ) 1 0 50 51 (42 ) 9 Exchange rate changes (131 ) (1 ) (132 ) (77 ) (0 ) (12 ) (89 ) (237 ) (457 ) Balance as of December 31, 2017 963 440 1,402 1,364 70 901 2,335 7,024 10,761 Additions 0 0 0 12 0 44 56 1,242 1,298 Changes in the group of 0 0 0 0 0 (0 ) (0 ) 0 (0 ) Disposals 0 0 0 0 0 126 126 725 851 Reclassifications from 0 0 0 0 0 (7 ) (7 ) (20 ) (27 ) Transfers 0 2 2 (3 ) 0 (213 ) (215 ) 190 (24 ) Exchange rate changes 48 0 48 10 0 5 15 102 165 Balance as of December 31, 2018 1,010 441 1,451 1,384 70 603 2,058 7,814 11,322 Accumulated amortization Balance as of January 1, 2017 276 424 700 1,363 65 715 2,143 2,418 5,261 Amortization for the year 0 0 0 34 4 27 65 870 935 1 Changes in the group of 0 0 0 0 0 (35 ) (35 ) (171 ) (206 ) Disposals 0 0 0 0 0 19 19 81 99 Reclassifications from 0 0 0 (4 ) 0 0 (4 ) 0 (4 ) Impairment losses 0 15 15 0 0 0 0 42 57 2 Reversals of impairment losses 0 0 0 0 0 0 0 0 0 Transfers 0 0 0 0 0 41 41 (35 ) 6 Exchange rate changes (33 ) (0 ) (33 ) (72 ) (0 ) (12 ) (84 ) (129 ) (246 ) Balance as of December 31, 2017 243 439 682 1,321 69 718 2,108 2,914 5,704 Amortization for the year 0 0 0 21 1 40 61 1,034 1,095 3 Changes in the group of 0 0 0 0 0 (0 ) (0 ) 0 (0 ) Disposals 0 0 0 0 0 125 125 724 850 Reclassifications from 0 0 0 0 0 (7 ) (7 ) (20 ) (27 ) Impairment losses 0 0 0 0 0 0 0 42 42 4 Reversals of impairment losses 0 0 0 0 0 0 0 0 0 Transfers 0 0 0 6 0 (136 ) (129 ) 139 10 Exchange rate changes 12 0 12 10 0 5 14 57 83 Balance as of December 31, 2018 255 439 694 1,358 70 494 1,922 3,442 6,057 Carrying amount: As of December 31, 2017 719 1 720 43 1 183 227 4,110 5,057 As of December 31, 2018 755 2 757 26 0 109 136 4,372 5,265 1 The € 935 million were included in general and administrative expenses . 2 Of which € 42 million were related to the impairment of self-developed software, recorded in general and administrative expenses , and € 15 million referring to the impairment of a non-amortizing trade-mark intangible asset which is included under impairment of goodwill and other intangible asset . 3 The € 1.1 b illion were included in general and administrative expenses . 4 The € 42 million were related to the impairment of self-developed software , recorded in general and administrative expenses . Amortiz ing Intangible Assets In 2018, amortizing other intangible assets increased by a net € 171 million . This was in particular driven by additions to internally generated intangible assets of € 1.2 billion resulting from the capitalization of expenses incurred in conjunction with the Group’s development of own-used software. Offsetting were amortization expenses of € 1.1 billion , mostly for the scheduled consumption of capitalized software ( € 1.1 billion ). T he reassessment of current platform software as well as software under construction led to the impairment of self-developed software ( € 42 million ) . Furthermore, the weakening of the Euro against major currencies accounted for positive exchange rate changes of € 82 million increasing the net book value of amortizing intangible assets. In 2017, amortizing other intangible assets increased by a net € 291 million . This was mainly driven by additions to internally generated intangible assets of € 1.4 billion , offset by amortization expenses of € 935 million , in particular for the scheduled consumption of capitalized software ( € 897 million ). T he reassessment of current platform software as well as software under construction led to the impairment of self-developed software ( € 42 million ) . Furthermore, the strengthening of the Euro accounted for negative exchange rate changes of € 113 million reducing the net book value of amortizing intangible assets. In 2016, amortizing other intangible assets decreased by a net € 327 million . Main components of this development include d increases due to additions to internally generated intangible assets of € 1.5 billion , which repre sent the capitalization of expenses incurred in conjunction with the Group’s development of own-used software. These were offset by amortization expenses of € 815 million , mostly related to the scheduled asset consumption of self-developed software ( € 679 million ), and impairment charges of € 580 million , mainly reflecting the write-off of the value of business acquired (VOBA; € 515 million ) as a consequence of the Abbey Life disposal (Asset Management). Furthermore, t he reassessment of current platform software as well as software under construction, led to the writedown of self-developed software ( € 60 million ) . In advance of the sale of the NCOU legacy investment in Maher Terminals’ Port Elizabeth operation in the fourth quarter 2016, its reclassification to the held-for-sale category in the third quarter 2016 had led to a net reduction of € 497 million in contract-based and trade name other intangible assets. Other intangible assets with finite useful lives are generally amortized over their useful lives based on the straight-line method. U seful lives of other amortized intangible assets by asset class Useful lives Internally generated intangible assets: Software up to 10 Purchased intangible assets: Customer-related intangible assets up to 20 Contract-based intangible assets up to 8 Other up to 80 Unamortized Intangible Assets Within this asset class, the Group recognizes certain contract-based and marketing-related intangible assets, which are deemed to have an indefinite useful life. In particular, the asset class comprises the below detailed investment management agreements related to retail mutual funds and certain trademarks. Due to the specific nature of these intangible assets, market prices are ordinarily not observable and, therefore, the Group values such assets based on the income approach, using a post-tax DCF-methodology. Retail investment management agreements: These assets, amounting to € 755 million , relate to the Group’s U.S. retail mutual fund business and are a llocated to the Asset Management CGU . Retail investment management agreements are contracts that give DWS Group investments the exclusive right to manage a variety of mutual funds for a specified period. Since these contracts are easily renewable, the cost of renewal is minimal, and they have a long history of renewal, these agreements are not expected to have a foreseeable limit on the contract period. Therefore, the rights to manage the associated assets under management are expected to generate cash flows for an indefinite period of time. This intangible asset was recorded at fair value based upon a valuation provided by a third party at the date of acquisition of Zurich Scudder Investments, Inc. in 2002. The recoverable amount of the asset of € 755 million (2017: € 719 million ) was calculated as fair value less costs of disposal using the multi-period excess earnings method and the fair value measurement was categorized as Level 3 in the fair value hierarchy. The key assumptions in determining the fair value less costs of disposal include the asset mix, the flows forecast, the effective fee rate and discount rate as well as the terminal value growth rate. The discount rates (cost of equity) applied in the calculation were 10.0 % in 2018 and 11.0 % in 2017. The terminal value growth rate applied for 2018 is up to 4.0 % compared to 4.0 % in 201 7 . The reviews of the valuation for the years 2018 and 2017 neither resulted in any impairment nor a reversal of prior impairments . Trademarks: The other unamortized intangible assets had included the Postbank (allocated to CGU Postbank) and the Sal. Oppenheim (allocated to CGU WM) trademarks, which were both acquired in 2010. The Postbank trademark was initially recognized in 2010 at € 382 million . In finalizing the purchase price allocation in 2011, the fair value of the Postbank trademark increased to € 410 million . The Sal. Oppenheim trademark was recognized at € 27 million . Since both trademarks were expected to generate cash flows for an indefinite period of time, they were classified as unamortized intangible assets. Both trademarks were recorded at fair value at the acquisition date, based on third party valuations. The recoverable amounts were calculated as the fair value less costs of disposal of the trademarks based on the income approach using the relief-from-royalty method. Reflecting the change in strategic intent and the expected deconsolidation of Postbank, the Postbank trademark ( € 410 million ) was fully written off in the third quarter 2015. Following a review of the valuation model for the Sal. Oppenheim trademark, a write-down of € 6 million was recorded in the fourth quarter 2015. The discontinuation of its use outside the German market led to a further write-down of € 6 million recorded in the fourth quarter 2016. As the Group had announced on October 26, 2017 its intention to integrate the Sal. Oppenheim franchise in to Deutsche Bank during 2018 and to no longer maintain the Sal. Oppenheim brand, the book value of the trademark ( € 15 million ) was considered impaired and fully written off in the fourth quarter 2017. |
Non-Current Assets and Disposal
Non-Current Assets and Disposal Groups Held for Sale | 12 Months Ended |
Dec. 31, 2018 | |
Components of Other Non-Current Assets and Disposal Groups Held for Sale [Abstract] | |
Disclosure of non-current assets or disposal groups classified as held for sale [text block] | Non -Current Assets and Disposal Groups Held for Sale Within the balance sheet, non-current assets and disposal groups held for sale are included in o ther assets and o ther liabilities. in € m. Dec 31, 2018 Dec 31, 2017 Cash, due and deposits with banks, Central bank funds sold and 8 0 Financial assets at fair value through profit or loss 3 0 Financial assets available for sale 0 4 Loans 2,564 0 Property and equipment 62 15 Other assets 42 26 Total assets classified as held for sale 2,679 45 Deposits, Central bank funds purchased and securities sold under resale agreements 874 0 Financial liabilities at fair value through profit or loss 4 0 Long-term debt 0 0 Other liabilities 364 16 Total liabilities classified as held for sale 1,242 16 As of December 31, 2018 and December 31, 201 7 , no unrealized gains (losses) relating to non-current assets classified as held for sale were recognized directly in accumulated other comprehensive income (loss) (net of tax). Sale of Portuguese Private & Commercial Bank business On March 27, 2018, the Group announced that it has entered into an agreement to sell its local Private & Commercial Bank (PCB) business in Portugal to ABANCA Corporación Bancaria S.A. (“ABANCA”). Accordingly and at the end of the first quarter 2018, the business was classified as a disposal group held for sale. The valuation of the unit resulted in the recognition of a pretax loss of € (53) million which was recorded in other income ( € (40) million ) and general and administrative expense ( € (13) million ) of PCB in the first quarter 2018. With the transaction, Deutsche Bank continues to execute its strategy to sharpen its focus and reduce complexity. The transaction remains subject to regulatory approvals and other conditions. The parties are aiming to close the transaction in the first half of 2019. Disposal of Polish Private & Commercial Bank business Following the announcement made on December 14, 2017 that Deutsche Bank had entered into an agreement to sell its Polish Private & Commercial Banking (“PCB”) business from Deutsche Bank Polska S.A. (“DB Polska”), excluding its foreign currency denominated retail mortgage portfolio, together with DB Securities S.A., to Santander Bank Polska S.A. (“Santander Bank Polska”, former Bank Zachodni WBK S.A.), the Group obtained all material outstanding regulatory approvals on July 17, 2018 to proceed with the designated transaction. Accordingly, in the third quarter 2018 the respective business was classified as a disposal group held for sale. Before its classification as a disposal group held for sale, the Group had revalued the designated disposal unit and recorded a pre-tax loss of € (157) million included in PCB’s other income of the fourth quarter 2017. U pdating the revaluation of the unit prior to its disposal in 2018 led to additional net year-to-date pretax charge s of € (17) million recorded in PCB’s net revenues for 2018. The sale is in line with the Group’s effort to continue to sharpen its focus and reduce complexity. Santander Bank Polska is part of the Santander Group, with Banco Santander S.A. being its parent company. The transaction was subject to approvals of the Polish FSA, other regulatory approvals, corporate consents and other conditions and closed in the fourth quarter 2018. At closing of the transaction, the declaration of backing issued by Deutsche Bank AG in favor of DB Polska was terminated with regard to the liabilities included in the divested business. The declaration of backing issued in favor of DB Polska continues for the remaining business. Disposals in 2017 Division Disposal Financial impact 1 Date of the disposal Corporate & Investment Bank On June 5, 2017, the Group announced the completion of the sale of its Argentine subsidiary Deutsche Bank S.A. to Banco Comafi S.A. With outstanding substantial regulatory approvals received in May 2017, the entity had been classified as a disposal group held for sale prior to its disposal in June 2017. The disposal resulted in a pre-tax loss on sale of € 190 million , including the realization of a currency translation adjustment, which was recorded in 2017 and mainly included in C&A. Second quarter 2017 Asset In the fourth quarter 2016, the Group had classified its fund administration and custody business of Sal. Oppenheim Luxembourg as a disposal group held for sale. The transaction was subject to customary closing conditions and regulatory approvals and was completed on December 1, 2017. Up until its disposal, the revaluation of the unit resulted in an additional impairment loss of € 5 million recorded in Other income of 2017. Fourth quarter 2017 1 Impairment losses and reversals of impairment losses are included in Other income. |
Other Assets and Other Liabilit
Other Assets and Other Liabilities | 12 Months Ended |
Dec. 31, 2018 | |
Other Assets and Other Liabilities [Abstract] | |
Disclosure of Other Assets and Other Liabilities [text block] | Other Assets and Other Liabilities in € m. Dec 31, 2018 Dec 31, 2017 Other assets: Brokerage and securities related receivables Cash/margin receivables 42,827 46,519 Receivables from prime brokerage 3 12,638 Pending securities transactions past settlement date 3,654 3,929 Receivables from unsettled regular way trades 20,191 19,930 Total brokerage and securities related receivables 66,675 83,015 Debt Securities held to collect 5,184 N/A Accrued interest receivable 2,536 2,374 Assets held for sale 2,679 45 Other 16,371 16,057 Total other assets 93,444 101,491 in € m. Dec 31, 2018 Dec 31, 2017 Other liabilities: Brokerage and securities related payables Cash/margin payables 55,475 58,865 Payables from prime brokerage 15,495 25,042 Pending securities transactions past settlement date 2,228 2,562 Payables from unsettled regular way trades 17,510 20,274 Total brokerage and securities related payables 90,708 106,742 Accrued interest payable 2,486 2,623 Liabilities held for sale 1,242 16 Other 23,078 22,827 Total other liabilities 117,513 132,208 For further details on the assets and liabilities held for sale , please refer to Note 2 6 “Non-Current Assets and Disposal Groups Held for Sale”. |
Deposits
Deposits | 12 Months Ended |
Dec. 31, 2018 | |
Deposits [Abstract] | |
Disclosure of Deposits [text block] | Deposits in € m. Dec 31, 2018 Dec 31, 2017 Noninterest-bearing demand deposits 221,746 226,339 Interest-bearing deposits Demand deposits 126,280 133,280 Time deposits 130,039 133,952 Savings deposits 86,340 88,303 Total interest-bearing deposits 342,659 355,534 Total deposits 564,405 581,873 |
Provisions
Provisions | 12 Months Ended |
Dec. 31, 2018 | |
Provisions [Abstract] | |
Disclosure of provisions [text block] | Provisions Movements by Class of Provisions in € m. Operational Civil Regulatory Re- Other 1 Total 2 Balance as of January 1, 2017 309 2,014 5,607 741 952 9,622 Changes in the group of consolidated companies 0 (5 ) (0 ) (1 ) 5 (1 ) New provisions 84 745 306 601 847 2,584 Amounts used 53 1,611 3,576 458 763 6,461 Unused amounts reversed 49 134 711 182 118 1,194 Effects from exchange rate fluctuations/Unwind of discount (15 ) (86 ) (575 ) (4 ) (38 ) (718 ) Transfers (2 ) 193 (153 ) (0 ) 3 41 Balance as of January 1, 2018 275 1,115 897 696 889 3,873 Changes in the group of consolidated companies 0 0 0 1 (2 ) (2 ) New provisions 27 334 125 427 765 1,677 Amounts used 54 673 364 344 862 2,296 Unused amounts reversed 41 160 206 185 364 956 Effects from exchange rate fluctuations/Unwind of discount 5 42 41 (1 ) (1 ) 87 Transfers 2 25 6 (9 ) 9 33 Balance as of December 31, 2018 215 684 499 585 433 2,416 1 Figures have been restated to re flect the reclassification of € 1.0 billion and € 1.1 billion from Provisions to Deposits in the Group’s Con solidated Balance Sheet as of January 1, 2017 and January 1, 201 8 , respectively. See Note 1 “Significant Accounting Policies and Critical Accounting Estimate s ” for more details on the change in accounting policy impacting Home Savings Contracts. 2 For the remaining portion of provisions as disclosed on the consolidated balance sheet, please see Note 21 “Allowance for Credit Losses”, in which allowances for credit related off-balance sheet positions are disclosed. Classes of Provisions Operational Risk provisions arise out of operational risk and exclude civil litigation and regulatory enforcement provisions, which are presented as separate classes of provisions. Operational risk is the risk of loss resulting from inadequate or failed internal processes, people and systems, or from external events. The definition used for the purposes of determining operational provisions differs from the risk management definition, as it excludes risk of loss resulting from civil litigation and regulatory enforcement matters. For risk management purposes, operational risk includes legal risk, as payments to customers, counterparties and regulatory bodies in civil litigations or regulatory enforcement matters constitute loss events for operational shortcomings, but excludes business and reputational risk. Civil Litigation provisions arise out of current or potential claims or proceedings alleging non-compliance with contractual or other legal or regulatory responsibilities, which have resulted or may result in demands from customers, counterparties or other parties in civil litigations. Regulatory Enforcement provisions arise out of current or potential claims or proceedings alleging non-compliance with legal or regulatory responsibilities, which have resulted or may result in an assessment of fines or penalties by governmental regulatory agencies, self-regulatory organizations or other enforcement authorities. Restructuring provisions arise out of restructuring activities. The Group aims to enhance its long-term competitiveness through major reductions in costs, duplication and complexity in the years ahead. For details see Note 10 “Restructuring”. Other provisions include several specific items arising from a variety of different circumstances, including the provision for the reimbursement of loan processing fees, deferred sales commissions, provisions for bank levies and mortgage repurchase demands. Provisions and Contingent Liabilities The Group recognizes a provision for potential loss only when there is a present obligation arising from a past event that is probable to result in an economic outflow that can be reliably estimated. Where a reliable estimate cannot be made for such an obligation, no provision is recognized and the obligation is deemed a contingent liability. Contingent liabilities also include possible obligations for which the possibility of future economic outflow is more than remote but less than probable. Where a provision has been taken for a particular claim, no contingent liability is recorded; for matters or sets of matters consisting of more than one claim, however, provisions may be recorded for some claims, and contingent liabilities (or neither a provision nor a contingent liability) may be recorded for others. The Group operates in a legal and regulatory environment that exposes it to significant litigation risks. As a result, the Group is involved in litigation, arbitration and regulatory proceedings and investigations in Germany and in a number of jurisdictions outside Germany, including the United States. In recent years , regulation and supervision in a number of areas have increased, and regulators, governmental bodies and others have sought to subject financial services providers to increasing oversight and scrutiny, which in turn has led to additional regulatory investigations and enforcement actions which are often followed by civil litigation. This trend has accelerated markedly as a result of the global financial crisis. In determining for which of the claims the possibility of a loss is probable, or less than probable but more than remote, and then estimating the possible loss for those claims, the Group takes into consideration a number of factors, including but not limited to the nature of the claim and its underlying facts, the procedural posture and litigation history of each case, rulings by the courts or tribunals, the Group’s experience and the experience of others in similar cases (to the extent this is known to the Group), prior settlement discussions, settlements by others in similar cases (to the extent this is known to the Group), available indemnities and the opinions and views of legal counsel and other experts. The provisions the Group has recognized for civil litigation and regulatory enforcement matters as of December 31, 201 8 and January 1 , 201 8 are set forth in the table above. For some matters for which the Group believes an outflow of funds is probable, no provisions were recognized as the Group could not reliably estimate the amount of the potential outflow. For the matters for which a reliable estimate can be made, the Group currently estimat es that, as of December 31, 2018 , the aggregate future loss of which the possibility is more than remote but less than probable is approximately € 2.5 billion for civil litigation matters (December 31, 201 7 : € 2.4 billion ) and € 0.2 billion for regulatory enforcement matters (December 31, 201 7 : € 0.3 billion ). These figures include matters where the Group’s potential liability is joint and several and where the Group expects any such liability to be paid by a third party. For other significant civil litigation and regulatory enforcement matters, the Group believes the possibility of an outflow of funds is more than remote but less than probable but the amount is not reliably estimable, and accordingly such matters are not included in the contingent liability estimates. For still other significant civil litigation and regulatory enforcement matters, the Group believes the possibility of an outflow of funds is remote and therefore has neither recognized a provision nor included them in the contingent liability estimates. This estimated possible loss, as well as any provisions taken, is based upon currently available information and is subject to significant judgment and a variety of assumptions, variables and known and unknown uncertainties. These uncertainties may include inaccuracies in or incompleteness of the information available to the Group, particularly at the preliminary stages of matters, and assumptions by the Group as to future rulings of courts or other tribunals or the likely actions or positions taken by regulators or adversaries may prove incorrect. Moreover, estimates of possible loss for these matters are often not amenable to the use of statistical or other quantitative analytical tools frequently used in making judgments and estimates, and are subject to even greater degrees of uncertainty than in many other areas where the Group must exercise judgment and make estimates. The estimated possible loss, as well as any provisions taken, can be and often are substantially less than the amount initially requested by regulators or adversaries or the maximum potential loss that could be incurred were the matters to result in a final adjudication adverse to the Group. Moreover, in several regions in which the Group operates, an adversary often is not required to set forth the amount it is seeking, and where it is, the amount may not be subject to the same requirements that generally apply to pleading factual allegations or legal claims. The matters for which the Group determines that the possibility of a future loss is more than remote will change from time to time, as will the matters as to which a reliable estimate can be made and the estimated possible loss for such matters. Actual results may prove to be significantly higher or lower than the estimate of possible loss in those matters where such an estimate was made. In addition, loss may be incurred in matters with respect to which the Group believed the likelihood of loss was remote. In particular, the estimated aggregate possible loss does not represent the Group’s potential maximum loss exposure for those matters. The Group may settle litigation or regulatory proceedings or investigations prior to a final judgment or determination of liability. It may do so to avoid the cost, management efforts or negative business, regulatory or reputational consequences of continuing to contest liability, even when the Group believes it has valid defenses to liability. It may also do so when the potential consequences of failing to prevail would be disproportionate to the costs of settlement. Furthermore, the Group may, for similar reasons, reimburse counterparties for their losses even in situations where it does not believe that it is legally compelled to do so. Current Individual Proceedings Set forth below are descriptions of civil litigation and regulatory enforcement matters or groups of matters for which the Group has taken material provisions, or for which there are material contingent liabilities that are more than remote, or for which there is the possibility of material business or reputational risk; similar matters are grouped together and some matters consist of a number of proceedings or claims. The disclosed matters include matters for which the possibility of a loss is more than remote but for which the Group cannot reliably estimate the possible loss. Sets of matters are presented in English-language alphabetical order based on the titles the Group has used for them. Danske Bank Estonia Investigations. Deutsche Bank has received requests for information from regulatory and law enforcement agencies concerning the Bank’s correspondent banking relationship with Danske Bank, including the Bank’s historical processing of correspondent banking transactions on behalf of customers of Danske Bank’s Estonia branch prior to cessation of the correspondent banking relationship with that branch in 2015. Deutsche Bank is providing information to and otherwise cooperating with the investigating agencies. The Bank is also conducting an internal investigation into these matters, including of whether any violations of law, regulation or policy occurred and the effectiveness of the related internal control environment. The Group has not established a provision or contingent liability with respect to this matter. FX Investigations and Litigations. Deutsche Bank has received requests for information from certain regulatory and law enforcement agencies globally who investigated trading in, and various other aspects of, the foreign exchange market. Deutsche Bank cooperated with these investigations. Relatedly, Deutsche Bank has conducted its own internal global review of foreign exchange trading and other aspects of its foreign exchange business. On October 19, 2016, the US Commodity Futures Trading Commission (CFTC), Division of Enforcement issued a letter (“CFTC Letter”) notifying Deutsche Bank that the CFTC Division of Enforcement “is not taking any further action at this time and has closed the investigation of Deutsche Bank” regarding foreign exchange. As is customary, the CFTC Letter states that the CFTC Division of Enforcement “maintains the discretion to decide to reopen the investigation at any time in the future.” The CFTC Letter has no binding impact on other regulatory and law enforcement agency investigations regarding Deutsche Bank’s foreign exchange trading and practices, which remain pending. On December 7, 2016, it was announced that Deutsche Bank reached an agreement with CADE, the Brazilian antitrust enforcement agency, to settle an investigation into conduct by a former Brazil-based Deutsche Bank trader. As part of that settlement, Deutsche Bank paid a fine of BRL 51 million and agreed to continue to comply with the CADE’s administrative process until it is concluded. This resolves CADE’s administrative process as it relates to Deutsche Bank, subject to Deutsche Bank’s continued compliance with the settlement terms. On February 13, 2017, the US Department of Justice (DOJ), Criminal Division, Fraud Section, issued a letter (“DOJ Letter”) notifying Deutsche Bank that the DOJ has closed its criminal inquiry “concerning possible violations of federal criminal law in connection with the foreign exchange markets.” As is customary, the DOJ Letter states that the DOJ may reopen its inquiry if it obtains additional information or evidence regarding the inquiry. The DOJ Letter has no binding impact on other regulatory and law enforcement agency investigations regarding Deutsche Bank’s foreign exchange trading and practices, which remain pending. On April 20, 2017, it was announced that Deutsche Bank AG, DB USA Corporation and Deutsche Bank AG New York Branch reached an agreement with the Board of Governors of the Federal Reserve System to settle an investigation into Deutsche Bank’s foreign exchange trading and practices. Under the terms of the settlement, Deutsche Bank entered into a cease-and-desist order, and agreed to pay a civil monetary penalty of US $ 137 million . In addition, the Federal Reserve ordered Deutsche Bank to “continue to implement additional improvements in its oversight, internal controls, compliance, risk management and audit programs” for its foreign exchange business and other similar products, and to periodically report to the Federal Reserve on its progress. On June 20, 2018, it was announced that Deutsche Bank AG and Deutsche Bank AG New York Branch reached an agreement with the New York State Department of Financial Services (DFS) to settle an investigation into Deutsche Bank’s foreign exchange trading and sales practices. Under the terms of the settlement, Deutsche Bank entered into a consent order, and agreed to pay a civil monetary penalty of US $ 205 million . In addition, the DFS ordered Deutsche Bank to continue to implement improvements in its oversight, internal controls, compliance, risk management and audit programs for its foreign exchange business, and to periodically report to the DFS on its progress. Investigations conducted by certain other regulatory agencies are ongoing, and Deutsche Bank has cooperated with these investigations. On August 6, 2018, the US District Court for the Southern District of New York issued a final order approving Deutsche Bank’s US $ 190 million settlement and plaintiffs’ dismissal with prejudice of the consolidated action ( In re Foreign Exchange Benchmark Rates Antitrust Litigation ). The consolidated action was brought on behalf of a putative class of over-the-counter traders and a putative class of central-exchange traders, who are domiciled in or traded in the United States or its territories, and alleged illegal agreements to restrain competition with respect to and to manipulate both benchmark rates and spot rates, particularly the spreads quoted on those spot rates. On July 10, 2018, the US Court of Appeals for the Second Circuit affirmed the district court’s dismissal of Doris Sue Allen v. Bank of America, et al ., a putative class action that tracked the allegations in the consolidated action and asserted that such purported conduct gave rise to, and resulted in a breach of, defendants’ fiduciary duties under the US Employment Retirement Income Security Act of 1974. On September 6, 2018, the US District Court for the Southern District of New York denied Axiom Investment Advisors, LLC’s (“Axiom”) motion for class certification in Axiom v. Deutsche Bank AG . Axiom’s motion for voluntary dismissal with prejudice was granted on January 18, 2019. This putative class action alleged that Deutsche Bank rejected FX orders placed over electronic trading platforms through the application of a function referred to as “Last Look” and that these orders were later filled at prices less favorable to putative class members. One US putative class action remains pending against Deutsche Bank. Filed on September 26, 2016, amended on March 24, 2017, and later consolidated with a similar action that was filed on April 28, 2017, the "Indirect Purchasers" action ( Contant, et al. v, Bank of America Corp., et al. ) tracks the allegations in the consolidated action and asserts that such purported conduct injured “indirect purchasers” of FX instruments. These claims are brought pursuant to the Sherman Act and various states’ consumer protection statutes. On March 15, 2018, the court granted Deutsche Bank’s motion to dismiss this action. Plaintiffs filed a motion to replead and proposed an amended complaint on April 5, 2018, which Deutsche Bank opposed. On October 25, 2018, the US District Court for the Southern District of New York granted plaintiffs’ motion and a second amended complaint was filed on November 28, 2018. Discovery has commenced in the Indirect Purchasers action. Filed on November 7, 2018, Allianz, et al. v. Bank of America Corporation, et al. , was brought on an individual basis by a group of asset managers who opted out of the settlement in the consolidated action. Plaintiffs filed an amended complaint on March 1, 2019. Deutsche Bank’s response to that complaint is due on April 1, 2019. Limited discovery has commenced pending resolution of defendants’ motion to dismiss . Deutsche Bank also has been named as a defendant in two Canadian class proceedings brought in the provinces of Ontario and Quebec. Filed on September 10, 2015, these class actions assert factual allegations similar to those made in the consolidated action in the United States and seek damages pursuant to the Canadian Competition Act as well as other causes of action. Plaintiffs in the Ontario action have moved for class certification and completed service of their class certification motion record on June 23, 2017. Deutsche Bank has opposed class certification, and a hearing on the class certification motion is scheduled for June 10 to 14, 2019. Deutsche Bank has also been named as a defendant in two putative class actions filed in Israel. Filed in September 2018, these actions assert factual allegations similar to those made in the consolidated action in the United States and seek damages pursuant to Israeli antitrust law as well as other causes of action. These actions are in preliminary stages. The Group has not disclosed whether it has established a provision or contingent liability with respect to these matters because it has concluded that such disclosure can be expected to prejudice seriously their outcome. Interbank and Dealer Offered Rates Matters. Regulatory and Law Enforcement Matters. Deutsche Bank has responded to requests for information from , and cooperated with, various regulatory and law enforcement agencies, in connection with industry-wide investigations concerning the setting of the London Interbank Offered Rate (LIBOR), Euro Interbank Offered Rate (EURIBOR), Tokyo Interbank Offered Rate (TIBOR) and other interbank and/or dealer offere d rates. As previously reported, Deutsche Bank paid € 725 million to the European Commission pursuant to a settlement agreement dated December 4, 2013 in relation to anticompetitive conduct in the trading of interest rate derivatives . Also as previously reported, on April 23, 2015, Deutsche Bank entered into separate settlements with the DOJ, the CFTC, the UK Financial Conduct Authority (FCA), and the New York State Department of Financial Services (DFS) to resolve investigations into misconduct concerning the setting of LIBOR, EURIBOR, and TIBOR. Under the terms of these agreements, Deutsche Bank agreed to pay penalties of US $ 2.175 billion to the DOJ, CFTC and DFS and GBP 226.8 million to the FCA. As part of the resolution with the DOJ, DB Group Services (UK) Limited (an indirectly-held, wholly-owned subsidiary of Deutsche Bank) pled guilty to one count of wire fraud in the US District Court for the District of Connecticut and Deutsche Bank entered into a Deferred Prosecution Agreement with a three year term pursuant to which it agreed (among other things) to the filing of an Information in the US District Court for the District of Connecticut charging Deutsche Bank with one count of wire fraud and one count of price fixing in violation of the Sherman Act. On April 23, 2018, the Deferred Prosecution Agreement expired, and the US District Court for the District of Connecticut subsequently dismissed the criminal Information against Deutsche Bank. The fines referred to above, which include a US $ 150 million fine paid in April 2017 following the March 28, 2017 sentencing of DB Group Servic es (UK) Limited , have been paid in full and do not form part of the Bank’s provisions. As previously reported, on March 20, 2017, Deutsche Bank paid CHF 5.4 million to the Swiss Competition Commission (WEKO) pursuant to a settlement agreement in relation to Yen LIBOR. On October 25, 2017, Deutsche Bank entered into a settlement with a working group of US state attorneys general resolving their interbank offered rate investigation. Among other conditions, Deutsche Bank agreed to make a settlement payment of US $ 220 million . The settlement amount has been paid in full and does not form part of the Bank’s provisions. Other investigations of Deutsche Bank concerning the setting of various interbank and/or dealer offered rates rem ain ongoing . The Group has not disclosed whether it has established a provision or contingent liability with respect to the remaining investigations because it has concluded that such disclosure can be expected to prejudice seriously their outcome. Overview of Civil Litigations. Deutsche Bank is party to 4 5 US civil actions concerning alleged manipulation relating to the setting of various i nterbank and/or dealer o ffered r ates which are described in the foll owing paragraphs, as well as single action s pending in each of the UK , Israel and Argentina . Most of the civil actions, including putative class actions, are pending in the US District Court for the Southern District of New York (SDNY), against Deutsche Bank and numerous other defendants. All but four of the US civil actions were filed on behalf of parties who allege losses as a result of manipulation relating to the setting of US dollar LIBOR. The four civil actions pending against Deutsche Bank that do not relate to US dollar LIBOR are also pending in the SDNY, and include one consolidated action concerning Pound Sterling (GBP) LIBOR, one action concerning Swiss franc (CHF) LIBOR, one action concerning two Singapore Dollar (SGD) benchmark rates, the Singapore Interbank Offered Rate (SIBOR) and the Swap Offer Rate (SOR) , and one action concerning the Canadian Dealer Offered Rate (CDOR) . Claims for damages for all 4 5 of the US civil actions discussed have been asserted under various legal theories, including violations of the US Commodity Exchange Act, federal and state antitrust laws, the US Racketeer Influenced and Corrupt Organizations Act, and other federal and state laws. The Group has not disclosed whether it has established a provision or contingent liability with respect to these matters because it has concluded that such disclosure can be expected to prejudice seriously their outcome. US dollar LIBOR . With three exception s , all of the US civil actions concerning US dollar LIBOR are being coordinated as part of a multidistrict litigation (the “ US dollar LIBOR MDL”) in the SDNY. In light of the large number of individual cases pending against Deutsche Bank and their similarity, the civil actions included in the US dollar LIBOR MDL are now subsumed under the following general description of the litigation pertaining to all such actions, without disclosure of individual actions except when the circumstances or the resolution of an individual case is material to Deutsche Bank. Following a series of decisions in the US dollar LIBOR MDL between March 2013 and December 2016 narrowing their claims, plaintiffs are currently asserting antitrust claims, claims under the US Commodity Exchange Act and state law fraud, contract, unjust enrichment and other tort claims. The court has also issued decisions dismissing certain plaintiffs’ claims for lack of personal jurisdiction and on statute of limitations grounds. On December 20, 2016, the district court issued a ruling dismissing certain antitrust claims while allowing others to proceed. Multiple plaintiffs have filed appeals of the district court’s December 20, 2016 ruling to the US Court of Appeals for the Second Circuit, and those appeals are proceeding in parallel with the ongoing proceedi ngs in the district court. Briefing of the appeals is complete . On July 13, 2017, Deutsche Bank executed a settlement agreement in the amount of US $ 80 million with plaintiffs to resolve a putative class action pending as part of the US dollar LIBOR MDL asserting claims based on alleged transactions in Eurodollar futures and options traded on the Chicago Mercantile Exchange ( Metzler Investment GmbH v. Credit Suisse Group AG ). The settlement agreement was submitted to the court for preliminary approval on October 11, 2017. The settlement amount is already fully reflected in existing litigation provisions and no additional provisions have been taken for this settlement. The settlement agreement is subject to further review and approval by the court. On February 6, 2018, Deutsche Bank executed a settlement agreement in the amount of US $ 240 million with plaintiffs to resolve a putative class action pending as part of the US dollar LIBOR MDL asserting claims based on alleged transactions in US dollar LIBOR-linked financial instruments purchased over the counter directly from LIBOR panel banks ( Mayor & City Council of Baltimore v. Credit Suisse AG ). The agreement was submitted to the court for approval, and the court granted final approval of the settlement on October 25, 2018. Accordingly, the action is not included in the total number of actions above. The settlement amount, which Deutsche Bank has paid, is no longer reflected in Deutsche Bank’s litigation provisions. Plaintiff in one of the non-MDL cases proceeding in the SDNY moved to amend its complaint following a dismissal of its claims. On March 20, 2018, the court denied plaintiff’s motion for leave to amend and entered judgment in the action, closing the case. Plaintiff has appealed the court’s decision, and briefing of the appeal is complete. On January 15 and 31, 2019, plaintiffs filed two putative class action complaints in the SDNY against several financial institutions, alleging that the defendants, members of the panel of banks that provided US dollar LIBOR submissions, the organization that administers LIBOR, and their affiliates, conspired to suppress US dollar LIBOR submissions from February 1, 2014 through the present. These actions were subsequently consolidated . A third putative class action complaint was filed on March 4, 2019. These actions are not part of the US dollar LIBOR MDL. There is a further UK civil action regarding US dollar LIBOR brought by the US Federal Deposit Insurance Corporation, in which a claim for damages has been asserted pursuant to Article 101 of The Treaty on the Functioning of the European Union, Section 2 of Chapter 1 of the UK Competition Act 1998 and US state laws. Deutsche Bank is defending this action. A further class action regarding LIBOR, EURIBOR and TIBOR has been filed in Israel seeking damages for losses incurred by Israeli individuals and entities. Deutsche Bank is contesting service and jurisdiction. Yen LIBOR and Euroyen TIBOR. On July 21, 2017, Deutsche Bank executed a settlement agreement in the amount of US $ 77 million with plaintiffs to resolve two putative class actions pending in the SDNY alleging manipulation of Yen LIBOR and Euroyen TIBOR ( Laydon v. Mizuho Bank, Ltd. and Sonterra Capital Master Fund Ltd. v. UBS AG ). The agreement was submitted to the court for approval, and the court granted final approval of the settlement on December 7, 2017. Accordingly, these two actions are not included in the total number of actions above. The settlement amount, which Deutsche Bank paid on August 1, 2017, is no longer reflected in Deutsche Bank’s litigation provisions. EURIBOR. On May 10, 2017, Deutsche Bank executed a settlement agreement in the amount of US $ 170 million with plaintiffs to resolve a putative class action pending in the SDNY alleging manipulation of EURIBOR ( Sullivan v. Barclays PLC ). The agreement was submitted to the court for approval, and the court granted final approval of the settlement on May 18, 2018. Accordingly, the action is not included in the total number of actions above. The settlement amount, which Deutsche Bank has paid, is no longer reflected in Deutsche Bank’s litigation provisions. GBP LIBOR. A putative class action alleging manipulation of the Pound Sterling (GBP) LIBOR remains pending in the SDNY. On December 21, 2018, the court partially granted defendants’ motions to dismiss the action, dismissing all claims against Deutsche Bank. On January 22, 2019, the plaintiffs moved for partial reconsideration of the court’s decision ; that motion is fully briefed . CHF LIBOR. A putative class action alleging manipulation of the Swiss Franc (CHF) LIBOR remains pending in the SDNY. It is the subject of fully briefed motions to dismiss. SIBOR and SOR. A putative class action alleging manipulation of the Singapore Interbank Offered Rate (SIBOR) and Swap Offer Rate (SOR) remains pending in the SDNY. On October 25, 2018, the plaintiff filed a third amended complaint, which is the subject of a fully briefed motion to dismiss. On December 26, 2018, plaintiff moved the court for leave to file a fourth amended complaint; that motion is fully briefed. CDOR. A putative class action alleging manipulation of the Canadian Dealer Offered Rate (CDOR) is pending in the SDNY. On March 14, 2019, the court granted defendants’ motions to dismiss the amended complaint, dismissing all actions against Deutsche Bank. Investigations Into Referral Hiring Practices and Certain Business Relationships. Certain regulators and law enforcement authorities in various jurisdictions, including the US Securities and Exchange Commission and the DOJ, are investigating, among other things, Deutsche Bank’s compliance with the US Foreign Corrupt Practices Act and other laws with respect to the Bank’s hiring practices related to candidates referred by clients, potential clients and government officials, and the Bank’s engagement of finders and consultants. Deutsche Bank is responding to and continuing to cooperate with these investigations. Certain regulators in other jurisdictions have also been briefed on these investigations. The Group has recorded a provision with respect to certain of these regulatory investigations. The Group has not disclosed the amount of this provision because it has concluded that such disclosure can be expected to prejudice seriously the outcome of these regulatory investigations. Based on the facts currently known, it is not practicable at this time for the Bank to predict the timing of a resolution. Kirch. The public prosecutor’s office in Munich ( Staatsanwaltschaft München I ) has conducted and is currently conducting criminal investigations in connection with the Kirch case inter alia with regard to former Deutsche Bank Management Board members. The Kirch case involved several civil proceedings between Deutsche Bank AG and Dr. Leo Kirch as well as media companies controlled by him. The key issue was wheth |
Other Short-Term Borrowings
Other Short-Term Borrowings | 12 Months Ended |
Dec. 31, 2018 | |
Other Short-Term Borrowings [Abstract] | |
Disclosure of Other Short-Term Borrowings [text block] | Other Short-Term Borrowings in € m. Dec 31, 2018 Dec 31, 2017 Other short-term borrowings: Commercial paper 2,752 5,274 Other 11,406 13,137 Total other short-term borrowings 14,158 18,411 |
Long-Term Debt and Trust Prefer
Long-Term Debt and Trust Preferred Securities | 12 Months Ended |
Dec. 31, 2018 | |
Long-Term Debt and Trust Preferred Securities [Abstract] | |
Disclosure of Long-Term Debt and Trust Preferred Securities [text block] | Long-Term Debt and Trust Preferred Securities Long-Term Debt by Earliest Contractual Maturity in € m. Due in Due in Due in Due in Due in Due after Total Total Senior debt: Bonds and notes: Fixed rate 16,275 10,510 18,483 6,949 6,898 18,779 77,894 76,285 Floating rate 8,002 4,540 5,347 3,553 2,321 6,732 30,495 33,210 Subordinated debt: Bonds and notes: Fixed rate 2,057 1,135 0 0 30 2,075 5,297 5,493 Floating rate 24 180 0 0 1,202 14 1,420 1,738 Other 20,958 6,263 1,335 557 1,087 6,777 36,977 42,988 Total long-term debt 47,317 22,627 25,164 11,060 11,538 34,377 152,083 159,715 The Group did not have any defaults of principal, interest or other breaches with re spect to its liabilities in 2018 and 2017 . Trust Preferred Securities 1 in € m. Dec 31, 2018 Dec 31, 2017 Fixed rate 2,194 4,462 Floating rate 975 1,030 Total trust preferred securities 3,168 5,491 1 P erpetual instruments, redeemable at specific future dates at the Group’s option. |
Maturity Analysis of Financial
Maturity Analysis of Financial Liabilities | 12 Months Ended |
Dec. 31, 2018 | |
Maturity Analysis of the earliest contractual undiscounted cash flows of Financial Liabilities [Abstract] | |
Disclosure of maturity analysis of the earliest contractual undiscounted cash flows of Financial Liabilities [text block] | Maturity Analysis of the earliest contractual undiscounted cash flows of Financial Liabilities Dec 31, 2018 in € m. On demand Due within Due between Due between Due after Noninterest bearing deposits 221,746 0 0 0 0 Interest bearing deposits 126,416 137,089 47,258 21,683 12,059 Trading liabilities 1 59,922 0 0 0 0 Negative market values from derivative financial 1 301,487 0 0 0 0 Financial liabilities designated at fair value 16,438 25,838 7,895 2,760 5,724 Investment contract liabilities 2 0 0 512 0 0 Negative market values from derivative financial 3 0 609 502 505 306 Central bank funds purchased 252 0 0 0 0 Securities sold under repurchase agreements 3,151 963 508 1 0 Securities loaned 3,358 3 0 0 0 Other short-term borrowings 11,067 2,258 1,622 0 0 Long-term debt 3 34,449 16,268 80,028 36,085 Trust preferred securities 0 36 3,306 0 0 Other financial liabilities 96,573 2,762 1,201 369 60 Off-balance sheet loan commitments 167,722 0 0 0 0 Financial guarantees 22,502 0 0 0 0 Total 4 1,030,639 204,008 79,073 105,346 54,234 1 Trading liabilities and derivatives not qualifying for hedge accounting balances are recorded at fair value. The Group believe s that this best represents the cash flow that would have to be paid if these positions had to be closed out. Trading liabilities and derivatives not qualifying for hedge accounting balances are shown within “ on demand ” which Group’s management believes most accurately reflects the short-term nature of trading activities. The contractual maturity of the instruments may however extend over significantly longer periods. 2 These are investment contracts where the policy terms and conditions result in their redemption value equaling fair value. 3 Derivatives designated for hedge accounting are recorded at fair value and are shown in the time bucket at which the hedged relationship is expected to terminate. 4 The balances in the table do not agree to the numbers in the Group’s balance sheet as the cash flows included in the table are undiscounted. This analysis represents the worst case scenario for the Group if the Group w as required to repay all liabilities earlier than expected. The Group believe s that the likelihood of such an event occurring is remote. Dec 31, 2017 in € m. On demand Due within Due between Due between Due after Noninterest bearing deposits 226,339 0 0 0 0 Interest bearing deposits 133,378 146,204 45,816 19,194 12,510 Trading liabilities 1 71,457 0 0 0 0 Negative market values from derivative financial 1 342,726 0 0 0 0 Financial liabilities designated at fair value 29,207 29,360 4,847 2,599 5,951 Investment contract liabilities 2 0 0 574 0 0 Negative market values from derivative financial 3 0 69 336 672 218 Central bank funds purchased 174 83 0 0 0 Securities sold under repurchase agreements 14,152 2,525 1,348 491 23 Securities loaned 6,684 3 0 0 1 Other short-term borrowings 11,859 2,326 3,600 0 0 Long-term debt 4 7,409 41,820 78,063 41,926 Trust preferred securities 0 1,710 3,328 688 0 Other financial liabilities 112,961 3,483 554 373 4 Off-balance sheet loan commitments 153,700 0 0 0 0 Financial guarantees 19,883 0 0 0 0 Total 4 1,122,525 193,172 102,223 102,080 60,632 1 Trading liabilities and derivatives not qualifying for hedge accounting balances are recorded at fair value. The Group believe s that this best represents the cash flow that would have to be paid if these positions had to be closed out. Trading liabilities and derivatives not qualifying for hedge accounting balances are shown within “ on demand ” which Group’s management believes most accurately reflects the short-term nature of trading activities. The contractual maturity of the instruments may however extend over significantly longer periods. . 2 These are investment contracts where the policy terms and conditions result in their redemption value equaling fair value. 3 Derivatives designated for hedge accounting are recorded at fair value and are shown in the time bucket at which the hedged relationship is expected to terminate. 4 The balances in the table do not agree to the numbers in the Group’s balance sheet as the cash flows included in the table are undiscounted. This analysis represents the worst case scenario for the Group if the Group w as required to repay all liabilities earlier than expected. The Group believe s that the likelihood of such an event occurring is remote. |
Common Shares
Common Shares | 12 Months Ended |
Dec. 31, 2018 | |
Common Shares [Abstract] | |
Common shares [text block] | Common Shares Common Shares Deutsche Bank’s share capital consists of common shares issued in registered form without par value. Under German law, each share represents an equal stake in the subscribed capital. Therefore, each share has a nominal value of € 2.56 , derived by dividing the total amount of share capital by the number of shares. Number of shares Issued and Treasury shares Outstanding Common shares, January 1, 2017 1,379,273,131 (203,442 ) 1,379,069,689 Shares issued under share-based compensation plans 0 0 0 Capital increase 687,500,000 0 687,500,000 Shares purchased for treasury 0 (490,690,358 ) (490,690,358 ) Shares sold or distributed from treasury 0 490,522,710 490,522,710 Common shares, December 31, 2017 2,066,773,131 (371,090 ) 2,066,402,041 Shares issued under share-based compensation plans 0 0 0 Capital increase 0 0 0 Shares purchased for treasury 0 (372,179,750 ) (372,179,750 ) Shares sold or distributed from treasury 0 371,206,696 371,206,696 Common shares, December 31, 2018 2,066,773,131 (1,344,144 ) 2,065,428,987 There are no issued ordinary shares that have not been fully paid. Shares purchased for treasury mainly consist of shares purchased with the intention of being resold in the short-term as well as held by the Group for a period of time. In addition, the Group has bought back shares for equity compensation purposes. All such transactions were recorded in shareholders’ equity and no revenues and expenses were recorded in connection with these activities. Treasury stock held as of year-end will mainly be used for future share-based compensa tion. Authorized Capital The Management Board is authorized to increase the share capital by issuing new shares for cash consideration. As of December 31, 2018, Deutsche Bank AG had authorized but unissued capital of € 2,560,000,000 which may be issued in whole or in part until April 30, 2022. Further details are governed by Section 4 of the Articles of Association. Authorized capital Consideration Pre-emptive rights Expiration date € 512,000,000 Cash May be excluded pursuant to Section 186 (3) sentence 4 of the Stock Corporation Act and may be excluded insofar as it is necessary to grant pre-emptive rights to the holders of option rights, convertible bonds and convertible participatory rights April 30, 2022 € 2,048,000,000 Cash May be excluded insofar as it is necessary to grant pre-emptive rights to the holders of option rights, convertible bonds and convertible participatory rights. April 30, 2022 Conditional Capital The Management Board is authorized to issue once or more than once, participatory notes that are linked with conversion rights or option rights and/or convertible bonds and/or bonds with warrants. The participatory notes, convertible bonds or bonds with warrants may also be issued by affiliated companies of Deutsche Bank AG. For this purpose share capital was increased conditionally upon exercise of these conversion and/or exchange rights or upon mandatory conversion. Conditional capital Purpose of conditional capital Expiration date € 512,000,000 May be used if holders of conversion or option rights that are linked with participatory notes or convertible bonds or bonds with warrants make use of their conversion or option rights or holders with conversion obligations of convertible participatory notes or convertible bonds fulfill their obligation to convert. April 30, 2022 € 51,200,000 May be used to fulfill options that are awarded on or before the expiration date and will only be used to the extent that holders of issued options make use of their right to receive shares and shares are not delivered out of treasury shares April 30, 2022 Dividends The following table presents the amount of dividends proposed or declared for the years ended December 31, 2018, 2017 and 2016, respectively. 2018 2017 2016² Cash dividends declared (in € m.) 227,000,000 227,000,000 227,000,000 Cash dividends declared per common share (in €) 0.11 0.11 0.11 1 Cash dividends for 2018 is based on the number of shares issued as of December 31, 2018. 2 Dividends for 2016 and 2015 were approved by th e annual general meeting in 2017 and were paid simultaneously in 2017 . No dividends have been declared since the balance sheet date. |
Employee Benefits
Employee Benefits | 12 Months Ended |
Dec. 31, 2018 | |
Employee Benefits [Abstract] | |
Disclosure of employee benefits [text block] | Employee Benefits Share-Based Compensation Plans The Group made grants of share-based compensation under the DB Equity Plan. This plan represents a contingent right to receive Deutsche Bank common shares after a specified period of time. The award recipient is not entitled to receive dividends during the vesting period of the award. The share awards granted under the terms and conditions of the DB Equity Plan may be forfeited fully or partly if the recipient voluntarily terminates employment before the end of the relevant vesting period. Vesting usually continues after termination of employment in cases such as redundancy or retirement. In countries where legal or other restrictions hinder the delivery of shares, a cash plan variant of the DB Equity Plan was used for granting awards. The following table sets forth the b asic terms of these share plans: Grant year(s) Deutsche Bank Equity Plan Vesting schedule Eligibility 2018 Annual Award (CIB) 1 1/4: 12 months 2 Select employees as 1/4: 24 months 2 annual performance-based 1/4: 36 months 2 compensation 1/4: 48 months 2 Annual Award (non-CIB) 1 1/3: 12 months 2 Select employees as 1/3: 24 months 2 annual performance-based 1/3: 36 months 2 compensation Annual Award 1/5: 12 months 2 Members of Management Board (Senior Management) 1 1/5: 24 months 2 or of Senior Management 1/5: 36 months 2 1/5: 48 months 2 1/5: 60 months 2 Retention/New Hire Individual specification Select employees to attract and Annual Award – Upfront Vesting immediately at grant 3 Regulated employees 2017 Annual Award 1 1/4: 12 months 4 Select employees as 1/4: 24 months 4 annual performance-based 1/4: 36 months 4 compensation 1/4: 48 months 4 Or cliff vesting after 54 months 4 Members of Management Board Retention/New Hire Individual specification Select employees to attract and retain the best talent Annual Award – Upfront Vesting immediately at grant 3 Regulated employees Key Retention Plan (KRP) 5 1/2: 50 months 6 Material Risk Takers (MRTs) 1/2: 62 months 6 Cliff vesting after 43 months Non-Material Risk Takers (non-MRTs) 2016 Annual Award 1/4: 12 months 4 Select employees as 1/4: 24 months 4 annual performance-based 1/4: 36 months 4 compensation 1/4: 48 months 4 Or cliff vesting after 54 months 4 Members of Management Board or of Senior Leadership Cadre Retention/New Hire Individual specification Select employees to attract and retain the best talent Annual Award – Upfront Vesting immediately at grant 3 Regulated employees Key Position Award (KPA) 7 Cliff-vesting after 4 years 3 Select employees as annual retention 2015/ Annual Award 1/3: 12 months 4 Select employees as 2014 1/3: 24 months 4 annual performance-based 1/3: 36 months 4 compensation Or cliff vesting after 54 months 4 Members of Management Board or of Senior Leadership Group Retention/New Hire Individual specification Select employees to attract and retain the best talent Annual Award – Upfront Vesting immediately at grant 8 Regulated employees 1 For employees of certain legal entities, deferred equity is replaced with restricted shares due to local regulatory requirements . 2 For members of the Management Board or the Senior Management and all other InstVV-regulated employees a further retention period of twelve months applies. 3 For all regulated employees share delivery takes place after a further retention period of twelve months. For awards granted in 2018 this is only applicable to InstVV MRTs. 4 For members of the Management Board o r of the Senior Leadership Cadre and all other regulated employees a further retention period of six months applies. 5 The Key Retention Plan (KRP) is referenced as the “Retention Award Program” in the Bank’s Compensation Report. Equity-based awards granted under this program in January 2017 are subject to an additional share price hurdle, meaning this award proportion only vests in the event that the Bank’s share price reaches a certain share target price prior to vesting. 6 For Material Risk Takers (MRTs) share delivery takes place after a further retention period of twelve months. 7 A predefined proportion of the individual’s KPA is subject to an additional share price hurdle, meaning this award proportion only vests in the event that the Bank’s share price reaches a certain share target price prior to vesting. 8 For members of the Management Board share delivery takes place after a retention period of three years. For all other regulated employees share delivery takes place after a retention period of six months. Furthermore, the Group offers a broad-based employee share ownership plan entitled Global Share Purchase Plan (“GSPP”). The GSPP offers employees in specific countries the opportunity to purchase Deutsche Bank shares in monthly installments over one year. At the end of the purchase cycle, the bank matches the acquired stock in a ratio of one to one up to a maximum of ten free shares, provided that the employee remains at Deutsche Bank Group for another year. In total, about 12 , 450 staff from 20 countries enrolled in the tenth cycle that began in November 201 8 . The Group has other local share-based compensation plans, none of which, individually or in the aggregate, are material to the consolidated financial statements. The following table shows the outstanding share award units as of the respective dates, which represent a contingent right to receive Deutsche Bank common shares after a specified period of time. It also includes the grants under the cash plan variant of the DB Equity Plan. Share units Weighted-average Balance as of December 31, 2016 90,292 € 20.22 Balance as of December 31, 2017 137,541 € 14.78 Balance as of December 31, 2018 153,117 € 11.15 Share-based payment transactions resulting in a cash payment give rise to a liability, which amounted to ap proximately € 12 million , € 23 million and € 15 million for t he years ended December 31, 2018, 2017 and 201 6 , respectively. As of December 31, 201 8 , the grant volume of outstanding share awards was approximately € 1.7 billion . Thereof, € 1.2 billion had been recognized as compensation expense in the reporting year or prior to that. Hence, compensation expense for deferred share-based compensation not yet recognized amounted to € 0.5 billion as of December 31, 201 8 . In addition to the amounts shown in the table above, approximately 4.4 and 9.1 million shares were issued to plan participants in February and March 201 9 , resulting from the vesting of DB Equity Plan awards gra nted in prior years (thereof 0,16 million units for February and 0.16 million units for March 2019 vesting cycles under the cash plan variant of this DB Equity Plan ). DWS Share-Based Plans (cash-settle d) In September 2018 one-off IPO related awards under the DWS Stock Appreciation Rights (SAR) Plan was granted to all DWS Group staff and in addition there were awards for a limited number of DWS senior managers under the DWS Equity (PSU) Plan. The DWS SAR Plan represents a contingent right to receive a cash payment equal to any appreciation (or gain) in the value of a set number of notional DWS Shares over a fixed period of time. This award does not provide any entitlement to receive DWS Shares, voting rights or dividends associated with them. The DWS Equity Plan is a phantom share plan representing a contingent right to receive a cash payment by referencing to the value of DWS Shares during a specified period of time. The award recipient for any share-based compensation plan is not entitled to receive dividends during the vesting period of the award. The share awards granted under the terms and conditions of any share-based compensation plan are forfeited fully or partly if the recipient voluntarily terminates employment before the end of the relevant vesting period. Vesting usually continues after termination of employment in cases such as redundancy or retirement. The following table set forth the basic terms of the DWS share-based plans: Grant year(s) Award Type Vesting schedule Eligibility 2018 Retention/New Hire Individual Specification Select employees to attract and retain the best talent PSU Award 1 For MRTs: 3 Select Senior Managers 2018 SAR Award 2 For non-MRTs: 5 3 All DWS employees 4 1 The award and the number of units is subject to the achievement of pre-defined targets (Average Net flows (NNA)2019-2020 and FY 2020 Adjusted CIR (Cost Income Ratio) measured December 2020. 2 The award is subject to a positive IBIT of DWS Group December 2019. 3 Depending on their individual regulatory status, a 6 months retention period (AIFMD/UCITS MRTs) or a 12-months retention period (InstVV MRTs) applies after vesting. 4 Unless the employee received PSU Award. 5 Following vesting / retention period a 4-year exercise period applies. As of December 31, 2018, the grant volume of outstanding share awards was approximately € 23 million . Thereof, € 4 million has been recognized as compensation expense in the reporting year since the award date. Hence, compensation expense for deferred share-based compensation not yet recognized is approximately € 19 million which is dependent on future share price development. The fair value of the awards have been measured using the Black-Scholes formula. Service and non-market performance conditions attached to the arrangements were not taken into account in measuring fair value. The inputs used in the measurement of the fair values at grant date and measurement date of the awards were as follows: Grant date Measurement Grant date Measurement PSU PSU SAR SAR Units 1,272 1,248 2,224 2,192 Fair value € 14.56 € 14.18 € 3.95 € 3.35 Share price € 23.75 € 23.37 € 23.75 € 23.37 Exercise price N/A N/A € 24.65 € 24.65 Expected volatility (weighted-average) 36 % 35 % 36 % 35 % Expected life (weighted-averag, in years) 5 5 6 6 Expected dividends (in % of income) 65 % 65 % 65 % 65 % Risk-free interest rate (based on government funds) 0 % 0 % 0 % 0 % Given the short timeframe since the IPO of DWS Group, the expected volatility of the DWS share price has been based on an evaluation of the historical volatility for a comparable peer group over the preceding 5-year period. The expected dividend level is linked to the latest DWS Group communication. In addition, the DWS Equity Plan has performance conditions which will determine the nominal amount which can ultimately vest under the award. These performance conditions are linked to the DWS Group strategy, specifically with regards to the target for net inflows and the adjusted cost income ratio, which will be tested prior to vesting in March 2021. Post-employment Benefit Plans Nature of Plans The Group sponsors a number of post-employment benefit plans on behalf of its employees, both defined contribution plans and defined benefit plans. The Group’s plans are accounted for based on the nature and substance of the plan. Generally, for defined benefit plans the value of a participant’s accrued benefit is based on each employee’s remuneration and length of service; contributions to defined contribution plans are typically based on a percentage of each employee’s remuneration. The rest of this note focuses predominantly on the Group’s defined benefit plans. The Group’s defined benefit plans are primarily described on a geographical basis, reflecting differences in the nature and risks of benefits, as well as in the respective regulatory environments. In particular, the requirements set by local regulators can vary significantly and determine the design and f inancing of the benefit plans to a certain extent . Key information is also shown based on participant status, which provides a broad indication of the maturity of the Group’s obligations. Dec 31, 2018 in € m. Germany UK U.S. Other Total Defined benefit obligation related to Active plan participants 4,599 593 337 623 6,152 Participants in deferred status 2,210 2,286 500 97 5,093 Participants in payment status 5,144 989 500 242 6,875 Total defined benefit obligation 11,953 3,868 1,337 962 18,120 Fair value of plan assets 10,877 4,884 1,074 892 17,727 Funding ratio (in %) 91 % 126 % 80 % 93 % 98 % Dec 31, 2017 in € m. Germany UK U.S. Other Total Defined benefit obligation related to Active plan participants 4,823 688 363 640 6,514 Participants in deferred status 2,196 2,583 536 93 5,408 Participants in payment status 5,071 905 502 246 6,724 Total defined benefit obligation 12,090 4,176 1,401 979 18,646 Fair value of plan assets 11,003 5,202 1,091 915 18,211 Funding ratio (in %) 91 % 125 % 78 % 93 % 98 % The majority of the Group’s defined benefit plan obligations relate to Germany, the United Kingdom and the United States. Within the other co untries, the largest obligation relate s to Switzerland. In Germany and some continental European countries, post-employment benefits are usually agreed on a collective basis with respective employee works councils , unions or their equivalent. The Group’s main pension plans are governed by boards of trustees, fi duciaries or their equivalent. Post-employment benefits can form an important part of an employee’s total remuneration. The Group’s approach is that their design shall be attractive to employees in the respective market, but sustainable for the Group to provide over the longer term. At the same time, the Group tries to limit its risks related to provision of such benefits. Consequently t he Group has moved to offer d efined c ontribution plans in many locations over recent years . In the past the Group typically offered pension plans based on final pay prior to retirement. These types of benefits still form a significant part of the pension obligations for participants in deferred and payment status. Currently, in Germany and the United States, the main defined benefit pension plans for active staff are cash account type plans where the Group credits an annual amount to individual accounts based on an employee’s current salary. Dependent on the plan rules, the accounts increase either at a fixed interest rate or participate in market movements of certain underlying investments to limit the investment risk for the Group. Sometimes, in particular in Germany, there is a guaranteed benefit amount within the plan rules, e.g. payment of at least the amounts contributed. Upon retirement, beneficiaries may usually opt for a lump sum or for conversion of the accumulated account balance into an annuity. This conversion is often based on market conditions and mortality assumptions at retirement. In the past, the main defined benefit pension plan in the United Kingdom was redesigned for active employees still eligible to the plan to reduce the overall long-term risk exposure to the Group. Furthermore recent c hanges to pension legislati on and taxation in the UK continued to cause increased take-up of cash options and transfer values out of the defined benefit pension plans. The Group also sponsors retirement and termination indemnity plans in several countries, as well as some post-employment medical plans for a number of current and retired employees, mainly in the United States. The post-employment medical plans typically pay fixed percentages of medical expenses of eligible retirees after a set deductible has been met. In the United States, once a retiree is eligible for Medicare, the Group contributes to a Health Reimbursement Account and the retiree is no longer eligible for the Group’s medical program . The Group’s total defined benefit obligation for post-em ployment medical plans was € 192 million and € 196 million at December 31, 2018 and December 31, 2017, respectively. In combination with the benefit structure, these plan s repre sent limited risk for the Group, given the nature and size of the post-retirement m edical plan liabilities of € 192 million versus the size of the Group’s balance sheet at year end 201 8. The following amounts of expected benefit payments from the Group’s defined benefit plans include benefits attributable to employees’ past and estimated future service, and include both amounts paid from the Group’s external pension trusts and paid directly by the Grou p in respect of unfunded plans. in € m. Germany UK U.S. Other Total Actual benefit payments 2018 437 176 114 76 803 Benefits expected to be paid 2019 439 115 81 66 701 Benefits expected to be paid 2020 448 92 76 59 675 Benefits expected to be paid 2021 460 98 82 59 699 Benefits expected to be paid 2022 480 106 82 61 729 Benefits expected to be paid 2023 498 116 86 60 760 Benefits expected to be paid 2024 – 2028 2,747 694 455 321 4,217 Weighted average duration of defined benefit 14 22 11 12 15 Multi-employer Plans In Germany, the Group is a member of the BVV Versicherungsverein des Bankgewerbes a.G. (BVV) together with other financial institutions. The BVV offers retirement benefits to eligible employees in Germany as a complement to post-employment benefit promises of the Group. Both employers and employees contribute on a regular basis to the BVV. The BVV provides annuities of a fixed amount to individuals on retirement and increases these fixed amounts if surplus assets arise within the plan. According to legislation in Germany, the employer is ultimately liable for providing the benefits to its employees. An increase in benefits may also arise due to additional obligations to retirees for the effects of inflation. BVV is a multi-employer defined benefit plan . H owever , in line with industry practice, the Group accounts for it as a defined contribution plan since insufficient information is available to identify assets and liabilities relating to the Group’s current and former employees , primarily because the BVV does not fully allocate plan assets to beneficiaries nor to member companies. According to the BVV’s disclosures, there is no current deficit in the plan that may affect the amount of future Group contributions. Furthermore, any plan surplus emerging in the future will be distributed to the plan members, hence it cannot reduce future Group contributions. In June 2016, the BVV’s Annual General Meeting approved a reduction in benefits from future contributions for certain groups of employees. Similar to other participating companies, the Group committed to make up for reduced benefit levels by increasing contributions to the BVV from January 1, 2017. A corresponding labor agreement has been signed with the German works council. The Group’s expenses for defined contribution plans also include annual contributions by DB Privat- und Firmenkundenbank AG to the pension fund for postal civil servants in Germany. Responsibility for the liability for these benefits lies with the German government . Governance and Risk The Group maintains a Pensions Risk Committee to oversee its pensio n and related risks on a global basis. This Committee meets quarterly , reports directly to the Senior Executive Compensation Committee and is supported by the Pensions Operating Committee. Within this context, the Group develops and maintains guidelines for governance and risk management, including funding, asset allocation and actuarial assumption setting. In this regard, risk management means the management and control of risks for the Group related to market developments ( e.g . , interest rate, credit spre ad, price inflation ), asset investment, regulatory or legislat ive requirements, as well as monitoring demographic changes ( e.g . , longevity ). Especially during and after acquisitions or changes in the external environment ( e.g . , legislation, ta xation ), topics such as the general plan design or potential plan amendments are considered. Any plan changes follow a process requiring approval by Group Hu man Resources. To the extent that pension plans are funded, the assets held mitigate some of the liability risks, but introduce investment risk. In the Group’s key pension countries, the Group’s largest post-employment benefit plan risk exposures relate to potential changes in credit spreads, interest rates, price inflation and longevity, although these have been partially mitigated through the investment strategy adopted. Overall, the Group seeks to minimize the impact of pensions on the Group’s financial position from market movements, subject to balancing the trade-offs involved in finan cing post-employment benefits, regulatory capital and constraints from local funding or accounting requirements. The Group measures its pension risk exposures on a regular basis using specific metrics developed by the Group for this purpose. Funding The Group maintains various external pension trusts to fund the majority of its defined benefit plan obligations. The Group’s funding policy is to maintain coverage of the defined benefit obligation by plan assets within a range of 90 % to 100 % of the obligation, subject to meeting any local statutory requirements. The Group has also determined that certain plans should remain unfunded, although their funding approach is subject to periodic review, e.g. when local regulations or practices change. Obligations for the Group’s unfunded plans are accrued on the balance sheet. For most of the externally funded defined benefit plans there are local minimum funding requirements. The Group can decide on any additional plan contributions, with reference to the Group’s funding policy. There are some locations, e.g. the United Kingdom, where the trustees and the Bank jointly agree contribution levels. In most countries the Group expects to receive an economic benefit from any plan surpluses of plan assets compared to defined benefit obligations, typically by way of reduced future contributions. Given the broadly fully funded position and the investment strategy adopted in the Group’s key funded defined benefit plans, any minimum funding requirements that may apply are not expected to place the Group under any material adverse cash strain in the short term. With reference to the Group’s funding policy, the Group considers not re-claiming benefits paid from the Group’s assets as an equivalent to making cash contributions into the external pension trusts during the year . For post-retirement medical plans, the Group accrues for obligations over the period of employment and pays the benefits from Group assets when the benefits become due. Actuarial Methodology and Assumptions December 31 is the measurement date for all plans. All plans are valued by independent qualified actuaries using the projected unit credit method. A Group policy provides guidance to local actuaries to ensure consistency globally on setting actuarial assumptions which are finally determined by the Group’s Pensions Operating Committee . Senior management of the Group is regularly informed of movements and changes in key actuarial assumptions. The key actuarial assumptions applied in determining the defined benefit obligations at December 31 are presented below in the form of weighted averages. Dec 31, 2018 Dec 31, 2017 Germany UK U.S. 1 Other Germany UK U.S. 1 Other Discount rate (in %) 1.7 % 2.7 % 4.2 % 2.6 % 1.7 % 2.5 % 3.5 % 2.5 % Rate of price inflation (in %) 1.6 % 3.5 % 2.2 % 1.9 % 1.8 % 3.5 % 2.2 % 2.0 % Rate of nominal increase in 2.1 % 4.0 % 2.3 % 2.9 % 2.3 % 4.5 % 2.3 % 3.1 % Rate of nominal increase for 1.5 % 3.3 % 2.2 % 1.0 % 1.7 % 3.3 % 2.2 % 1.1 % Assumed life expectancy For a male aged 65 20.0 23.5 22.2 21.8 19.3 23.6 22.2 21.7 For a female aged 65 23.6 25.4 23.7 24.1 23.3 25.4 23.7 24.1 For a male aged 45 22.8 24.8 23.7 23.3 21.9 24.9 23.8 23.1 For a female aged 45 25.8 26.8 25.2 25.6 25.8 26.9 25.2 25.6 Mortality tables applied Richttafeln Heubeck 2018G SAPS (S2) Light with CMI 2017 projections RP2014 White- collar with MP2018 projections Country specific tables Richttafeln Heubeck 2005G SAPS (S1) Light with CMI 2016 projections RP2014 White- collar with MP 2017 projections Country specific tables 1 Cash balance interest crediting rate in line with the 30-year US government bond yield . For the Group’s most significant plans in the key countries, the discount rate used at each measurement date is set based on a high quality corporate bond yield curve – derived based on bond universe information sourced from reputable third-party index and data providers and rating agencies – reflecting the timing, amount and currency of the future expected benefit payments for the respective plan. For longer durations where limited bond information is available, reasonable yield curve extrapolation methods are applied using respective actual swap rates and credit spread assumptions. Consistent discount rates are used across all plans in each currency zone, based on the assumption applicable for the Group’s largest plan (s) in that zone . For plans in the other countries, the discount rate is based on high quality corporate or government bond yields applicable in the respective currency, as appropriate at each measurement date with a duration broadly consistent with the respective plan’s obligations. In 2017 the Group moved to a more standardized, simpler approach to set its discount rate used to value its defined benefit plans in the Eurozone; similar approaches are generally accepted and are already used for the Group’s other major pension plans in the United Kingdom and the United States. The refinement resulted in no change in the discount rate and so no effect on the Group’s Consolidated Statement of Comprehensive Income in 2017. The price inflation assumptions in the eurozone and the United Kingdom are set with reference to market measures of inflation based on inflation swap rates in those markets at each measurement date. For other countries, the price inflation assumptions are typically based on long term forecasts by Consensus Economics Inc. The assumptions for the increases in future compensation levels and for increases to pensions in payment are developed separately for each plan, where relevant. Each is set based on the price inflation assumption and reflecting the Group’s reward structure or policies in each market, as well as relevant local statutory and plan-specific requirements. Among other assumptions, mortality assumptions can be significant in measuring the Group’s obligations under its defined benefit plans. These assumptions have been set in accordance with current best practice in the respective countries. Future potential improvements in longevity have been considered and included where appropriate. The valuation of the defined benefit obligation for the German plans as of December 31, 2018 are based for the first time on the Heubeck 2018G mortality tables. The tables reflect the latest statistics of the statutory German social security pension system and of the Federal Statistical Office. Reconciliation in Movement of Liabilities and Assets – Impact on Financial Statements 2018 in € m. Germany UK U.S. Other Total Change in the present value of the defined benefit obligation: Balance, beginning of year 12,090 4,176 1,401 979 18,646 Defined benefit cost recognized in Profit & Loss Current service cost 204 30 17 45 296 Interest cost 203 104 49 23 379 Past service cost and gain or loss arising from settlements (33 ) 18 0 (1 ) (16 ) Defined benefit cost recognized in Other Comprehensive Income Actuarial gain or loss arising from changes in financial (135 ) (187 ) (89 ) (23 ) (434 ) Actuarial gain or loss arising from changes in demographic assumptions 98 1 (48 ) (3 ) (2 ) 45 Actuarial gain or loss arising from experience (38 ) (7 ) 11 4 (30 ) Cash flow and other changes Contributions by plan participants 3 0 0 16 19 Benefits paid (437 ) (176 ) (114 ) (76 ) (803 ) Payments in respect to settlements 0 0 0 (11 ) (11 ) Acquisitions/Divestitures (2 ) 0 0 0 (2 ) Exchange rate changes 0 (42 ) 65 8 31 Other 0 0 0 0 0 Balance, end of year 11,953 3,868 1,337 962 18,120 thereof: Unfunded 0 10 193 112 315 Funded 11,953 3,858 1,144 850 17,805 Change in fair value of plan assets: Balance, beginning of year 11,003 5,202 1,091 915 18,211 Defined benefit cost recognized in Profit & Loss Interest income 187 130 38 20 375 Defined benefit cost recognized in Other Comprehensive Income Return from plan assets less interest income (351 ) (218 ) (53 ) (33 ) (655 ) Cash flow and other changes Contributions by plan participants 3 0 0 16 19 Contributions by the employer 473 0 52 33 558 Benefits paid 2 (437 ) (175 ) (102 ) (53 ) (767 ) Payments in respect to settlements 0 0 0 (12 ) (12 ) Acquisitions/Divestitures (1 ) 0 0 (1 ) (2 ) Exchange rate changes 0 (53 ) 52 7 6 Other 0 0 0 0 0 Plan administration costs 0 (2 ) (4 ) 0 (6 ) Balance, end of year 10,877 4,884 1,074 892 17,727 Funded status, end of year (1,076 ) 1,016 (263 ) (70 ) (393 ) Change in irrecoverable surplus (asset ceiling) Balance, beginning of year 0 0 0 (44 ) (44 ) Interest cost 0 0 0 0 0 Changes in irrecoverable surplus 0 0 0 20 20 Exchange rate changes 0 0 0 (1 ) (1 ) Balance, end of year 0 0 0 (25 ) (25 ) Net asset (liability) recognized (1,076 ) 1,016 (263 ) (95 ) (418 ) 3 1 Resulting predominantly from updated mortality assumptions (Heubeck 2018G instead of Heubeck 2005G) 2 For funded plans only. 3 Thereof € 1,097 million recognized in Other assets and € 1,515 million in Other liabilities . 2017 in € m. Germany UK U.S. Other Total Change in the present value of the defined benefit obligation: Balance, beginning of year 11,978 4,496 1,548 1,091 19,113 Defined benefit cost recognized in Profit & Loss Current service cost 213 34 21 50 318 Interest cost 202 114 56 25 397 Past service cost and gain or loss arising from settlements 34 4 0 (11 ) 27 Defined benefit cost recognized in Other Comprehensive Income Actuarial gain or loss arising from changes in financial 76 (43 ) 65 3 101 Actuarial gain or loss arising from changes in demographic 0 (16 ) (6 ) (11 ) (33 ) Actuarial gain or loss arising from experience (3 ) (17 ) 5 (9 ) (24 ) Cash flow and other changes Contributions by plan participants 3 0 0 15 18 Benefits paid (413 ) (245 ) (99 ) (83 ) (840 ) Payments in respect to settlements 0 0 0 (26 ) (26 ) Acquisitions/Divestitures 0 0 0 0 0 Exchange rate changes 0 (151 ) (189 ) (63 ) (403 ) Other 0 0 0 (2 ) (2 ) Balance, end of year 12,090 4,176 1,401 979 18,646 thereof: Unfunded 2 12 195 116 325 Funded 12,088 4,164 1,206 863 18,321 Change in fair value of plan assets: Balance, beginning of year 10,975 5,352 1,219 973 18,519 Defined benefit cost recognized in Profit & Loss Interest income 187 135 44 22 388 Defined benefit cost recognized in Other Comprehensive Income Return from plan assets less interest income (187 ) 144 32 32 21 Cash flow and other changes Contributions by plan participants 3 0 0 15 18 Contributions by the employer 438 0 31 22 491 Benefits paid 1 (413 ) (244 ) (86 ) (63 ) (806 ) Payments in respect to settlements 0 0 0 (26 ) (26 ) Acquisitions/Divestitures 0 0 0 0 0 Exchange rate changes 0 (183 ) (147 ) (58 ) (388 ) Other 0 0 0 (1 ) (1 ) Plan administration costs 0 (2 ) (2 ) (1 ) (5 ) Balance, end of year 11,003 5,202 1,091 915 18,211 Funded status, end of year (1,087 ) 1,026 (310 ) (64 ) (435 ) Change in irrecoverable surplus (asset ceiling) Balance, beginning of year 0 0 0 0 0 Interest cost 0 0 0 0 0 Changes in irrecoverable surplus 0 0 0 (46 ) (46 ) Exchange rate changes 0 0 0 2 2 Balance, end of year 0 0 0 (44 ) (44 ) Net asset (liability) recognized (1,087 ) 1,026 (310 ) (108 ) (479 ) 2 1 For funded plans only 2 Thereof € 1,113 million recognized in Other assets and € 1,592 million in Other liabilities. There are no reimbursement rights for the Group. Investment Strategy The Group’s investment objective is to protect the Group from adverse impacts of its defined benefit pension plans on key financial metrics. In the past, the primary focus has been on protecting the plans’ IFRS funded status in the case of adverse market scenarios. Recently there has been a shift in the investment strategy in selected markets to balance competing key financial metrics. Investment managers manage pension assets in line with investment mandates or guidelines as agreed with the pension plans’ trustees and investment committees. For key defined benefit plans fo r which the Bank aims to protect the IFRS funded status, the Group applies a liability driven investment (LDI) approach. Risks from mismatches between fluctuations in the present value of the defined benefit obligations and plan assets due to capital market movements are minimized, subject to balancing relevant trade-offs. This is achieved by allocating plan assets closely to the market risk factor exposures of the pension liability to interest rates, credit spreads and inflation. Thereby, plan assets broadly reflect the underlying risk profile and currency of the pension obligations. For pension plans where the LDI approac |
Income Taxes
Income Taxes | 12 Months Ended |
Dec. 31, 2018 | |
Income Taxes [Abstract] | |
Disclosure of income tax [text block] | Income Taxes in € m. 2018 2017 2016 Current tax expense (benefit): Tax expense (benefit) for current year 733 874 881 Adjustments for prior years (20 ) (145 ) (23 ) Total current tax expense (benefit) 713 729 858 Deferred tax expense (benefit): Origination and reversal of temporary difference, unused tax losses and tax credits 316 (113 ) (276 ) Effect of changes in tax law and/or tax rate (6 ) 1,437 (3 ) Adjustments for prior years (34 ) (90 ) (33 ) Total deferred tax expense (benefit) 276 1,234 (312 ) Total income tax expense (benefit) 989 1,963 546 Income tax expense in 2016 includes policyholder tax attrib utable to policyholder earnings amounting to an income tax expense of € 23 million . Total current tax expense includes benefits from previously unrecognized tax losses, tax credits and deductible temporary differences, which red uced the current tax by € 5 million in 201 7 and by € 7 million in 2016 . Total deferred tax expense includes benefits from previously unrecognized tax losses (tax credits/deductible temporary differences) and the reversal of previous write-downs of deferred tax assets and expenses arising from write-downs of deferred tax assets, which increased the deferred tax expense by € 253 million in 201 8 and by € 163 million in 2017. In 2016 these effects increased the deferred tax benefit by € 38 million . Difference between applying German statutory (domestic) income tax rate and actual income tax expense/(benefit) in € m. 2018 2017 2016 Expected tax expense (benefit) at domestic income tax rate of 31.3% (31.3% for 2017 and 31.3% for 2016) 416 384 (254 ) Foreign rate differential 8 (37 ) (38 ) Tax-exempt gains on securities and other income (209 ) (431 ) (599 ) Loss (income) on equity method investments (19 ) (21 ) (19 ) Nondeductible expenses 340 540 1,074 Impairments of goodwill 0 0 250 Changes in recognition and measurement of deferred tax assets 1 253 159 (45 ) Effect of changes in tax law and/or tax rate (6 ) 1,437 (3 ) Effect related to share-based payments 133 14 66 Effect of policyholder tax 0 0 23 Other 1 73 (82 ) 91 Actual income tax expense (benefit) 989 1,963 546 1 Current and deferred tax expense/(benefit) relating to prior years are mainly reflected in the line items “Changes in recognition and measurement of deferred tax assets” and “Other”. The Group is under continuous examinations by tax authorities in various jurisdictions. “Other” in the preceding table includes the effects of these examinations by the tax authorities. The domestic income tax rate, including corporate tax, solidarity surcharge, and trade tax, used for calculating deferred tax assets and liabilities was 31.3 % for 201 8, 2017 and 2016. Income taxes charged or credited to equity (other comprehensive income/additional paid in capital) in € m. 2018 2017 2016 Actuarial gains/losses related to defined benefit plans 18 (23 ) 344 Net fair value gains (losses) attributable to credit risk related to financial (8 ) 0 0 Financial assets available for sale: Unrealized net gains/losses arising during the period 0 4 20 Net gains/losses reclassified to profit or loss 0 99 81 Financial assets mandatory at fair value through other comprehensive income: Unrealized net gains/losses arising during the period 48 0 0 Realized net gains/losses arising during the period (reclassified to profit or loss) 86 0 0 Derivatives hedging variability of cash flows: Unrealized net gains/losses arising during the period 1 4 (14 ) Net gains/losses reclassified to profit or loss 0 42 1 Other equity movement: Unrealized net gains/losses arising during the period 91 2 (71 ) Net gains/losses reclassified to profit or loss 2 (5 ) 100 Income taxes (charged) credited to other comprehensive income 238 123 461 Other income taxes (charged) credited to equity 1 73 93 Major components of the Group’s gross deferred tax assets and liabilities in € m. Dec 31, 2018 1 Dec 31, 2017 1 Deferred tax assets: Unused tax losses 2,934 2,985 Unused tax credits 160 387 Deductible temporary differences: Trading activities, including derivatives 2,986 3,514 Employee benefits, including equity settled share based payments 2,140 2,208 Loans and borrowings, including allowance for loans 795 1,015 Fair value OCI (IFRS 9) 33 5 Intangible Assets 119 119 Accrued interest expense 1,133 180 Other assets 886 759 Other provisions 180 271 Other liabilities 21 42 Total deferred tax assets pre offsetting 11,387 11,485 Deferred tax liabilities: Taxable temporary differences: Trading activities, including derivatives 3,038 3,794 Employee benefits, including equity settled share based payments 312 266 Loans and borrowings, including allowance for loans 345 144 Fair value OCI (IFRS 9) 52 89 Intangible Assets 453 336 Other assets 344 270 Other provisions 85 83 Other liabilities 40 50 Total deferred tax liabilities pre offsetting 4,669 5,032 1 Following the IFRS 9 int roduction the presentation was changed and a more granular break down related to th e type of tem porary differences is provided. Compara tives were adjusted accordingly . Deferred tax assets and liabilities, after offsetting in € m. Dec 31, 2018 Dec 31, 2017 Presented as deferred tax assets 7,230 6,799 Presented as deferred tax liabilities 512 346 Net deferred tax assets 6,718 6,453 The change in the balance of deferred tax assets and deferred tax liabilities does not equal the deferred tax expense /(benefit) . This is due to (1) deferred taxes that are booked directly to equity, (2) the effects of exchange rate changes on tax assets and liabilities denominated in currencies other than euro, (3) the acquisition and disposal of entities as part of ordinary activities and (4) the reclassification of deferred tax assets and liabilities which are presented on the face of the balance sheet as components of other assets and liabilities. Items for which no deferred tax assets were recognized in € m. Dec 31, 2018¹ Dec 31, 2017¹ Deductible temporary differences (9 ) (34 ) Not expiring (5,738 ) (4,875 ) Expiring in subsequent period (52 ) (19 ) Expiring after subsequent period (289 ) (450 ) Unused tax losses (6,079 ) (5,344 ) Expiring after subsequent period 0 (11 ) Unused tax credits (1 ) (12 ) 1 Amounts in the table refer to deductible temporary differences, unused tax losses and tax credits for federal income tax purposes. Deferred tax assets were not recognized on these items because it is not probable that future taxable profit will be available against which the unused tax losses, unused tax credits and deductible temporary differences can be utilized. As of December 31, 201 8 and December 31, 201 7 , the Group recognized deferred tax assets of € 6.5 billion and € 5.9 billion , respectively , that exceed deferred tax liabilities in entities which have suffered a loss in either the current or preceding period. This is based on management’s assessment that it is probable that the respective entities will have taxable profits against which the unused tax losses, unused tax credits and deductible temporary differences can be utilized. Generally, in determining the amounts of deferred tax assets to be recognized, management uses historical profitability information and, if relevant, forecasted operating results, based upon approved business plans, including a review of the eligible carry-forward periods, tax planning opportunities and other relevant considerations. As of December 31, 201 8 and December 31, 201 7 , the Group had temporary differences associated with the Group’s parent company’s investments in subsidiaries, branches and associates and interests in joint ventures of € 27 million and € 72 million respectively, in respect of which no deferred tax liabilities were recognized. |
Derivatives
Derivatives | 12 Months Ended |
Dec. 31, 2018 | |
Derivatives [Abstract] | |
Disclosure of derivative financial instruments [text block] | Derivatives Derivative financial instruments and hedging a ctivities Derivative contracts used by the Group include swaps, futures, forwards, options and other similar types of contracts. In the normal course of business, the Group enters into a variety of derivative transactions for sales, market-making and risk management purposes. The Group’s objectives in using derivative instruments are to meet customers’ risk management needs and to manage the Group’s exposure to risks . In accordance with the Group’s accounting policy relating to derivatives and hedge accounting as described in Note 1 “Significant Accounting Policies and Critical Accounting Estimates ”, all derivatives are carried at fair value in the balance sheet regardless of whether they are held for trading or non-trading purposes. Derivatives held for sales and market-making p urposes Sales and market-making The majority of the Group’s derivatives transactions relate to sales and market-making activities. Sales activities include the structuring and marketing of derivative products to customers to enable them to take, transfer, modify or reduce current or expected risks. Market-making involves quoting bid and offer prices to other market participants, enabling revenue to be generated based on spreads and volume . Risk m anagement The Group uses derivatives in order to reduce its exposure to market risks as part of its asset and liability management. This is achieved by entering into derivatives that hedge specific portfolios of fixed rate financial instruments and forecast transactions as well as strategic hedging against overall balance sheet exposures. The Group actively manages interest rate risk through, among other things, the use of derivative contracts. Utilization of derivative financial instruments is modified from time to time within prescribed limits in response to changing market conditions, as well as to changes in the characteristics and mix of the related assets and liabilities. Derivatives qualifying for hedge a ccounting The Group applies hedge accounting if derivatives meet the spec ific criteria described in Note 1 “Significant Accounting Policies and Critical Accounting Estimates ”. In fair value hedge relationship, the Group uses primarily interest rate swaps and options, in order to protect itself against movements in the fair value of fixed-rate financial instruments due to movements in market interest rates. In a cash flow hedge relationship, the Group uses interest rate swaps in order to protect itself against exposure to variability in interest rates. The Group enters into foreign exchange forwards and swaps for hedges of translation adjustments resulting from translating the financial statements of net investments in foreign operations into the reporting currency of the parent at period end spot rates. The Group assesses and measures hedge effectiveness of a hedging relationship based on the change in the fair value or cash flows of the derivative hedging instrument relative to the change in the fair value or cash flows of the hedged item attributable to the hedged risk. Potential sources of ineffectiveness can be attributed to differences between hedging instruments and hedged items: Mismatches in the terms of hedged items and hedging instruments, for example the frequency and timing of when interest rates are reset, frequency of payment and callable features. Difference in the discounting rate applied to the hedged item and the hedging instrument, taking into consideration differences in the reset frequency of the hedged item and hedging instrument. Derivatives used as hedging instrument with a non-zero fair value at inception date of the hedging relationship, resulting in mismatch in terms with the hedged item. Interest rate risk The Group uses interest rate swaps and options to manage its exposure to interest rate risk by modifying the re-pricing characteristics of existing and/or forecasted assets and liabilities, including funding and investment activities. The interest rate swaps and options are designated in either a fair value hedge or a cash flow hedge. For fair value hedges, the Group uses interest rate swaps and options contracts to manage the fair value movements of fixed rate financial instruments due to changes in benchmark interest. For cash flow hedges, we use interest rate swaps to manage the exposure to cash flow variability of our variable rate instruments as a result of changes in benchmark interest rates. The Group manages its interest rate risk exposure on portfolio basis with frequent changes in the portfolio due to the origination of new loans and bonds, repayments of existing loans and bonds, issuance of new funding liabilities and repayment of existing funding liabilities. Accordingly, a dynamic hedging accounting approach is adopted for the portfolio, in which individual hedge relationships are designated and de-designated on a more frequent basis (e.g. on a monthly basis). Foreign exchange risk The Group manages its foreign currency risk (including U.S. dollar and British pound) from investments in foreign operation through net investment hedges using a combination of foreign exchange forwards and swaps as hedging instruments. As the investments in foreign operations are only hedged to the extent of the notional amount of the hedging derivative instrument the Group generally does not expect to incur significant ineffectiveness on hedges of net investments in foreign operations. Fair value hedge a ccounting Derivatives held as fair value hedges Dec 31, 2018 2018 Dec 31, 2017 in € m. Assets Liabilities Nominal Fair Value Assets Liabilities Derivatives held as fair value hedges 5,462 975 156,025 (557 ) 5,936 562 2018 in € m. Hedge Result of fair value hedges 37 Financial instruments designated as fair value hedges Dec 31, 2018 2018 Carrying amount of Financial Accumulated amount of Accumulated amount of Fair Value in € m. Assets Liabilities Assets Liabilities Assets Liabilities Financial assets at fair value through other comprehensive income 16,900 0 326 0 (35 ) 0 (31 ) Loans at amortized cost 8,794 0 59 0 1 0 118 Long-term debt 0 87,356 0 2,292 0 369 506 Other Assets/ Liabilities 0 0 0 0 0 0 0 For the years ended December 31, 2018, 2017 and 2016, a loss of € 0.6 billion , a loss of € 1.6 billion and a loss of € 0.6 billion , respectively, were recognized on the hedging instruments. For the same periods, the results on the hedged items, which were attributable to the hedged risk, were a gain of € 0.6 billion , a gain of € 1.3 billion and a gain of € 1.0 billion . Cash flow hedge a ccounting Derivatives held as cash flow hedges Dec 31, 2018 2018 Dec 31, 2017 in € m. Assets Liabilities Nominal Fair Value Assets Liabilities Derivatives held as cash flow hedges 29 1 3,689 (0 ) 37 3 Periods when hedged cash flows are expected to occur and when they are expected to affect the income statement in € m. Within 1 year 1–3 years 3–5 years Over 5 years As of December 31, 2017 Cash inflows from assets 28 18 0 0 Cash outflows from liabilities 0 0 13 0 Net cash flows 2017 28 18 (13 ) 0 Cash flow hedge b alances in € m. Dec 31, 2018 Dec 31, 2017 Dec 31, 2016 Reported in Equity 1 25 28 198 thereof relates to terminated programs 0 0 0 Gains (losses) posted to equity for the year ended (3 ) (34 ) 62 Gains (losses) removed from equity for the year ended 0 136 2 thereof relates to terminated programs 0 0 0 Changes of hedged item's value used for hedge effectiveness 0 0 0 Ineffectiveness recorded within P&L 0 0 (17 ) 1 Reported in equity refers to accumulated other comprehensive income as presented in the Consolidated Balance Sheet . As of December 31, 201 8 the longest term cash flow hedge matures in 202 2 . The financial instruments designated as cash flow hedges are recognized as Loans at amortized cost in the Group’s Consolidated Balance Sheet. Net investment h edge a ccounting Derivatives held as n et i nvestment hedges Dec 31, 2018 2018 Dec 31, 2017 in € m. Assets Liabilities Nominal amount Fair Value Assets Liabilities Derivatives held as net investment hedges 718 1,710 43,456 (1,380 ) 612 904 2018 in € m. Fair value changes 1 Hedge Result of net investment hedges 1,742 (345 ) 1 Reported in equity refers to accumulated other comprehensive income as presented in the Consolidated Balance Sheet F or the years ended December 31, 201 8, 20 17 and 2016, losses of € 345 million , € 348 million and € 437 million , respectively, were recognized due to hedge ineffectiveness w hich includes the forward point element of the hedging instruments. Profile of derivatives held as net i nvestment hedges in € m. Within 1 year 1–3 years 3–5 years Over 5 years As of December 31, 2018 Nominal amount Foreign exchange forwards 28,808 110 13 0 Nominal amount Foreign exchange swaps 3,972 5,601 1,982 2,970 Total 32,780 5,711 1,995 2,970 The Group uses a combination a rolling foreign exchange forward strategy and a static foreign currency swap hedging strategy. For the year ended December 31, 2018 the average foreign currency rate for the Group’s foreign currency Euro/USD swap portfolio was 0.82. |
Related Party Transactions
Related Party Transactions | 12 Months Ended |
Dec. 31, 2018 | |
Related Party Transactions [Abstract] | |
Disclosure of related party [text block] | Related Party Transactions Parties are considered to be related if one party has the ability to directly or indirectly control the other party or exercise significant influence over the other party in making financial or operational decisions. The Group’s related parties include : key management personnel, close family members of key management personnel and entities which are controlled, significantly influenced by, or for which significant voting power is held by key management personnel or their close family members, subsidiaries, joint ventures and associates and their respective subsidiaries, and post-employment benefit plans for the benefit of Deutsche Bank employees. Transactions with Key Management Personnel Key management personnel are those persons having authority and responsibility for planning, directing and controlling the activities of Deutsche Bank, directly or indirectly. The Group considers the members of the Management Board and of the Supervisory Board of the parent company to constitute key management personnel for purposes of IAS 24. C ompensation expe nse of key management personnel in € m. 2018 2017 2016 Short-term employee benefits 41 39 40 Post-employment benefits 10 10 9 Other long-term benefits 2 7 7 Termination benefits 32 3 0 Share-based payment 2 22 12 Total 87 81 68 The above table does not contain compensation that employee representatives and former board members on the Supervisory Board have received. The aggregated compensation paid to such members for their services as employees of Deutsche Bank or status as former employees (retirement, pension and deferred compensation) amounted to € 1.1 million as of December 31, 2018, € 1.1 million as of December 31, 201 7 and € 1.1 million as of December 31, 201 6 . Among the Group’s transactions with key management personnel as of December 31, 201 8 were loans and commitments of € 45 million and deposits of € 34 million . As of December 31, 201 7 , the Group’s transactions with key management personnel were loans and commitment s of € 48 million and deposits of € 123 million . In addition, the Group provides banking services, such as payment and account services as well as investment advice, to key management personnel and their close family members. Transactions with Subsidiaries, Joint Ventures and Associates Transactions between Deutsche Bank AG and its subsidiaries meet the de finition of related party trans actions. If these transactions are eliminated on consolidation, they are not d isclosed as related party trans actions. Transactions between the Group and its associated companies and joint ventures and their respective subsidiaries also qualify as related party transactions . Transactions for subsidiaries, joint ventures and associates are presented combined in below table as these are not material individually. Loans in € m. 2018 2017 Loans outstanding, beginning of year 256 297 Movement in loans during the period 1 (21 ) (26 ) Changes in the group of consolidated companies 0 (1 ) Exchange rate changes/other (7 ) (15 ) Loans outstanding, end of year 2 228 256 Other credit risk related transactions: Allowance for loan losses 0 0 Provision for loan losses 0 0 Guarantees and commitments 3 9 1 Net impact of loans issued and loans repayment during the year is shown as “Movement in loans during the period”. 2 Loans past due were € 0 million as of December 31, 2018 and € 0 million as of December 31, 2017. For the total loans the Group held collateral of € 14 million and € 14 million as of December 31, 2018 and December 31, 2017, respectively. Deposits in € m. 2018 2017 Deposits outstanding, beginning of year 67 87 Movement in deposits during the period 1 2 (15 ) Changes in the group of consolidated companies 0 (0 ) Exchange rate changes/other (0 ) (4 ) Deposits outstanding, end of year 68 67 1 Net impact of deposits received and deposits repaid during the year is shown as “Movement in deposits during the period”. Other Transactions Trading assets and positive market values from derivative financial transactions with associated companies amounted to € 2 million as of December 31, 201 8 and € 6 million as of December 31, 201 7 . Trading liabilities and negative market values from derivative financial transactions with associated companies amounted to € 0 million as of December 31, 201 8 and € 0 million as of December 31, 201 7 . Other transactions with related parties also reflected the following: TradeWeb Markets: In the first quarter 2018, the Group ceased to have significant influence over its equity method investment in TradeWeb Markets LLC and recognized a remeasurement gain of € 84 million equal to the difference between the fair value and the carrying amount of the investment. Transactions with Pension Plans Under IFRS, certain post-employment benefit plans are considered related parties. The Group has business relationships with a number of its pension plans pursuant to which it provides financial services to these plans, including investment management services. The Group’s pension funds may hold or trade Deutsche Bank shares or securities. T ransactions with rela ted party pension plans in € m. 2018 2017 Equity shares issued by the Group held in plan assets 1 0 Other assets 0 0 Fees paid from plan assets to asset managers of the Group 24 25 Market value of derivatives with a counterparty of the Group (692 ) (737 ) Notional amount of derivatives with a counterparty of the Group 7,325 10,150 |
Information on Subsidiaries
Information on Subsidiaries | 12 Months Ended |
Dec. 31, 2018 | |
Information on Subsidiaries [Abstract] | |
Disclosure of subsidiaries [text block] | Information on Subsidiaries Composition of the Group Deutsche Bank AG is the direct or indirect holding company for the Group’s subsidiaries. The Group consists of 707 (2017: 845 ) consolidated entities, thereof 251 (2017: 305 ) consolidated structured entities. 506 (2017: 612 ) of the entities controlled by the Group are directly or indirectly held by the Group at 100 % of the ownership interests (share of capital). Third parties also hold ownership interests in 201 (2017: 233 ) of the consolidated entities (noncontrolling interests). As of December 31, 2017 and 2018, one subsidiary has material noncontrolling interests. Noncontrolling interests for all other subsidiaries are neither individually nor cumulatively material to the Group. Subsidiaries with significant non-controlling interests Dec 31, 2018 Dec 31, 2017 DWS Group GmbH & Co. KGaA Proportion of ownership interests and voting rights held by non-controlling interests 20.51 % 0 % Place of business Global Global in € m Dec 31, 2018 Dec 31, 2017 Net income attributable to non-controlling interests 58 0 Accumulated non-controlling interests of the subsidiary 1,355 0 Dividends paid to non-controlling interests 0 0 Summarised financial information: Total assets 10,694 11,226 Total liabilities 4,155 4,860 Total net revenues 2,259 2,509 Net income (loss) 391 634 Total comprehensive income (loss), net of tax 589 604 Significant restrictions to access or use the Group ’s assets Statutory, contractual or regulatory requirements as well as protective rights of noncontrolling interests might restrict the ability of the Group to access and transfer assets freely to or from other entities within the Group and to settle liabilities of the Group. Since the Group did not have any material noncontrolling interests at the balance sheet date, any protective rights associated with these did not give rise to significant restrictions. The following restrictions impact the Group’s ability to use assets: The Group has pledged assets to collateralize its obligations under repurchase agreements, securities financing transactions, collateralized loan obligations and for margining purposes for OTC derivative liabilities. The assets of consolidated structured entities are held for the benefit of the parties that have bought the n otes issued by these entities. Regulatory and c entral bank requirements or local corporate laws may restrict the Group’s ability to transfer assets to or from other entities within the Group in certain jurisdictions. Restricted assets Dec 31, 2018 Dec 31, 2017 in € m. Total Restricted Total Restricted Interest-earning deposits with banks 176,022 188 210,481 772 Financial assets at fair value through profit or loss 573,344 48,320 636,970 58,210 Financial assets available for sale N/A N/A 49,397 9,915 Financial assets at fair value through other comprehensive income 51,182 4,375 N/A N/A Loans at amortized cost 400,297 76,573 401,699 71,971 Other 147,293 1,991 176,186 13,594 Total 1,348,137 131,447 1,474,732 154,462 The table above excludes assets that are not encumbered at an individual entity level but which may be subject to restrictions in terms of their transferability within the Group. Such restrictions may be based on local connected lending requirements or similar regulatory restrictions. In this situation, it is not feasible to identify individual balance sheet items that cannot be transferred. This is also the case for regulatory minimum liquidity requirements. The Group identifies the volume of liquidity reserves in excess of local stress liquidity outflows. The aggregate amount of such liquidity reserves that are considered restricted for this purpose is € 34.9 billion as of December 31, 2018 (as of December 31, 2017: € 23.5 billion ). |
Structured Entities
Structured Entities | 12 Months Ended |
Dec. 31, 2018 | |
Structured Entities [Abstract] | |
Disclosure of Structured entities [text block] | Structured Entities Nature, purpose and extent of the Group’s interests in structured entities The Group engages in various business activities with structured entities which are designed to achieve a specific business purpose. A structured entity is one that has been set up so that any voting rights or similar rights are not the dominant factor in deciding who controls the entity. An example is when voting rights relate only to administrative tasks and the relevant activities are directed by contractual arrangements. A structured entity often has some or all of the following features or attributes: Restricted activities; A narrow and well defined objective; Insufficient equity to permit the structured entity to finance its activities without subordinated financial support; Financing in the form of multiple contractually linked instruments to investors that create concentrations of credit or other risks (tranches). The principal uses of structured entities are to provide clients with access to specific portfolios of assets and to provide market liquidity for clients through securitizing financial assets. Structured entities may be established as corporations, trusts or partnerships. Structured entities generally finance the purchase of assets by issuing debt and equity securities that are collateralized by and/or indexed to the assets held by the structured entities. The debt and equity securities issued by structured entities may include tranches with varying levels of subordination. Structured entities are consolidated when the substance of the relationship between the Group and the structured entities indicate that the structured entities are controlled by the Group, as discussed in Note 1 “Significant Accounting Policies and Critical Accounting Estimates”. Consolidated structured entities The Group has contractual arrangements which may require it to provide financial support to the following types of consolidated structured entities. Securitization vehicles The G roup uses securitization vehicles for funding purchase of diversified pool of assets. The G roup provides financial support to these entities in the form of liquidity facility. As of December 31, 201 8 , and December 31, 2017, there were no outstanding loan commitments to these entities. Funds The G roup may provide funding and liquidity facility or guarantees to funds consolidated by the group. As of Decem- notional value of the liquidity facilities and guarantees provided by the group to such funds was € 3.0 billion and € 7.2 billion , respectively. Unconsolidated structured entities These are entities which are not consolidated because the Group does not control them through voting rights, contract, funding agreements, or other means. The extent of the Group’s interests to unconsolidated structured entities will vary depending on the type of structured entities. Below is a description of the Group’s involvements in unconsolidated structured entities by type. Repackaging and investment entities Repackaging and investment entities are established to meet clients’ investment needs through the combination of securities and derivatives . These entities are not consolidated by the Group because the Group does not have power to influence the returns obtained from the entities. These entities are usually set up to provide a certain investment return pre-agreed with the investor, and the Group is not able to change the investment strategy or return during the life of the transaction. Third party funding entities The Group provides funding to structured entities that hold a variety of assets. These entities may take the form of funding entities, trusts and private investment companies. The funding is collateralized by the asset in the structured entities. The group’s involvement involves predominantly both lending and loan commitments. The vehicles used in these transactions are controlled by the borrowers where the borrowers have the ability to decide whether to post additional margin or collateral in respect of the financing. In such cases, where borrowers can decide to continue or terminate the financing, the borrowers will consolidate the vehicle. Securitization Vehicles The Group establishes securitization vehicles which purchase diversified pools of assets, including fixed income securities, corporate loans, and asset-backed securities (predominantly commercial and residential mortgage-backed securities and credit card receivables). The vehicles fund these purchases by issuing multiple tranches of debt and equity securities, the repayment of which is linked to the performance of the assets in the vehicles. The Group often transfers assets to these securitization vehicles and provide s financial support to these entities in the form of liquidity facilities. The Group also invests and provides liquidity facilities to third party sponsored securitization vehicles. The securitization vehicles that are not consolidated into the Group are those where the Group does not hold the power or ability to unilaterally remove the servicer or special servicer who has been delegated power over the activities of the entity. Funds The Group establishes structured entities to accommodate client requirements to hold investments in specific assets. The Group also invests in funds that are sponsored by third parties. A group entity may act as fund manager, custodian or some other capacity and provide funding and liquidity facilities to both group sponsored and third party funds. The funding provided is collateralized by the underlying assets held by the fund. The Group does not consolidate funds when Deutsche Bank is deemed agent or when another third party investor has the ability to direct the activities of the fund. Other These are Deutsche Bank sponsored or third party structured entities that do not fall into any criteria above . These entities are not consolidated by the Group when the Group does not hold power over the decision making of these entities. Income derived from involvement with structured entities The Group earns management fees and, occasionally, performance-based fees for its investment management service in relation to funds. Interest income is recognized on the funding provided to structured entities. Any trading revenue as a result of derivatives with structured entities and from the movements in the value of notes held in these entities is recognized in ‘Net gains/losses on financial assets/liabilities held at fair value through profit and loss’. Interests in unconsolidated structured entities The Group’s interests in unconsolidated structured entities refer to contractual and non - contractual involvement that exposes the G roup to variability of returns from the performance of the structured entities. Examples of interests in unconsolidated structured entities include debt or equity investments, liquidity facilities, guarantees and certain derivative instruments in which the Group is absorbing variability of returns from the structured entities. Interests in unconsolidated structured entities exclude instruments which introduce variability of returns into the structured entities. For example, when the G roup purchases credit protection from an unconsolidated structured entity whose purpose and design is to pass through credit risk to investors, the Group is providing the variability of returns to the entity rath er than absorbing variability. The purchased credit protection is therefore not considered as an interest for the purpose of the table below. Maximum Exposure to unconsolidated structured entities The maximum exposure to loss is determined by considering the nature of the interest in the unconsolidated structured entity. The maximum exposure for loans and trading instruments is reflected by their carrying amounts in the consolidated balance sheet. The maximum exposure for derivatives and off balance sheet commitments such as guarantees, liquidity facilities and loan commitments under IFRS 12, as interpreted by the Group, is reflected by the notional amounts. Such amounts or their development do not reflect the economic risks faced by the Group because they do not take into account the effects of collateral or hedges nor the probability of such losses being incurred. At December 31, 2018, the notional related to the positive and negative replacement values of derivatives and off balance sheet commitments were € 372 billion , € 1,311 billion and € 17 billion respectively. At December 31, 2017, the notional related to the positive and negative replacement values of derivatives and off balance sheet commitments were € 327 billion , € 1,146 billion and € 28 billion (comparatives adjusted) respectively. Size of structured entities The Group provides a different measure for size of structured entities depending on their type. The following measures have been considered as appropriate indicators for evaluating the size of structured entities: Funds – Net asset value or assets under management where the Group holds fund units and notional of derivatives when the Group’s interest comprises of derivatives. Securitizations – notional of notes in issue when the Group derives its interests through notes its holds and notional of derivatives when the Group’s interests is in the form of derivatives. Third party funding entities – Total assets in entities Repackaging and investment entities – Fair value of notes in issue For Third party funding entities, size information is not publicly available, therefore the Group has disclosed the greater of the collateral the Group has received/pledged or the notional of the exposure the Group has to the entity. The following table shows, by type of structured entity, the carrying amounts of the Group’s interests recognized in the consolidated statement of financial position as well as the maximum exposure to loss resulting from these interests. It also provides an indication of the size of the structured entities. The carrying amounts presented below do not reflect the true variability of returns faced by the Group because they do not take into account the effects of collateral or hedges. Carrying amounts and size relating to Deutsche Bank’s interests Dec 31, 2018 in € m. Repacka- Third Party Securiti- Funds Total Assets Cash and central bank balances 0 0 0 0 0 Interbank balances (w/o central banks) 1 14 0 28 43 Central bank funds sold and securities 0 508 8 1,397 1,913 Securities Borrowed 0 0 0 461 461 Total financial assets at fair value 342 4,578 5,956 77,166 88,041 Trading assets 244 3,480 4,567 9,297 17,587 Positive market values 98 571 122 6,516 7,308 Non-trading financial assets mandatory at fair value through profit or loss 0 0 0 0 0 Financial assets designated at fair 0 526 1,266 61,353 63,145 Financial assets at fair value through other comprehensive income 0 286 240 832 1,358 Financial assets available for sale N/A N/A N/A N/A N/A Loans at amortized cost 220 40,552 27,322 8,370 76,464 Other assets 5 519 216 10,464 11,203 Total assets 568 46,456 33,741 98,719 179,483 Liabilities Total financial liabilities at fair value 102 56 3 15,482 15,644 Negative market values 102 56 3 15,482 15,644 Other short-term borrowings 0 0 0 6,596 6,596 Total liabilities 102 56 3 22,078 22,240 Off-balance sheet exposure 0 4,363 9,524 3,028 16,915 Total 466 50,762 43,261 79,668 174,158 Size of structured entity 2,514 60,525 284,181 2,970,958 Dec 31, 2017 in € m. Repacka- Third Party Securiti- Funds Total Assets Cash and central bank balances 0 0 0 0 0 Interbank balances (w/o central banks) 63 0 0 270 333 Central bank funds sold and securities 105 229 18 1,827 2,178 Securities Borrowed 0 13 0 11,065 11,078 Total financial assets at fair value 569 4,057 5,445 60,057 70,128 Trading assets 349 3,490 5,130 12,380 21,349 Positive market values 175 553 105 8,670 9,504 Non-trading financial assets mandatory at fair value through profit or loss N/A N/A N/A N/A N/A Financial assets designated at fair 44 13 210 39,007 39,275 Financial assets at fair value through other comprehensive income N/A N/A N/A N/A N/A Financial assets available for sale 0 1,039 384 730 2,153 Loans at amortized cost 146 37,352 18,533 18,050 74,081 Other assets 50 192 173 21,087 21,502 Total assets 934 42,882 24,552 113,085 181,453 Liabilities Total financial liabilities at fair value 120 73 41 13,486 13,720 Negative market values 120 73 41 13,486 13,720 Other short-term borrowings 0 0 0 9,533 9,533 Total liabilities 120 73 41 23,019 23,253 Off-balance sheet exposure 0 10,079 9,256 8,377 1 27,712 1 Total 814 52,888 33,767 98,443 1 185,912 1 Size of structured entity 6,833 90,664 281,826 2,181,810 1 The comparatives have been adjusted . Trading assets – Total trading assets as of December 31, 2018 and December 31, 2017 of € 17.6 billion and € 21.3 billion are comprised primarily of € 4.6 billion and € 5.1 billion in Securitizations and € 9.3 billion and € 12.4 billion in Funds structured entities respectively. The Group’s interests in securitizations are collateralized by the assets contained in these entities. Where the Group holds fund units these are typically in regards to market making in funds or otherwise serve as hedges for notes issued to clients. Moreover the credit risk arising from loans made to Third party funding structured entities is mitigated by the collateral received. Financial assets designated at fair value through profit or loss – Reverse repurchase agreements to Funds comprise the majority of the interests in this category and are collateralized by the underlying securities. Loans – Loans as of December 31, 201 8 and December 31, 201 7 consist of € 76.5 billion and € 74.1 billion investment in securitization tranches and financing to Third party funding entities. The Group’s financing to Third party funding entities is collateralized by the assets in those structured entities. Other assets – Other assets as of December 31, 201 8 and December 31, 201 7 of € 11.2 billion and € 21.5 billion , respectively, consist primarily of prime brokerage receivables and cash margin balances. Pending Receivables – Pending Receivable balances are not included in this disclosure note due to the fact that these balances arise from typical customer supplier relationships out of e.g. brokerage type activities and their inherent volatility would not provide users of the financial statements with effective information about D eutsche B ank ’s exposures to structured entities . Financial Support Deutsche Bank did not provide non - contractual support during the year to unconsolidated structured entities. Sponsored Unconsolidated Structured Entities where the Group h as no interest a s of December 31, 2018 and December 31, 2017. As a sponsor, the Group is involved in the legal set up and marketing of the entity and supports the entity in different ways, namely: transferring assets to the entities providing seed capital to the entities providing operational support to ensure the entity’s continued operation providing guarantees of performance to the structured entities. The Group is also deemed a sponsor for a structured entity if market participants would reasonably associate the entity with the Group. Additionally, the use of the Deutsche Bank name for the structured entity indicates that the Group has acted as a sponsor. The gross revenues from sponsored entities where the Group did not hold an interest as of December 31, 201 8 and December 31, 201 7 were € (220) million and € 56 million respectively. Instances where the Group does not hold an interest in an unconsolidated sponsored structured entity include cases where any seed capital or funding to the structured entity has already been repaid in full to the Group during the year. This amount does not take into account the impacts of hedges and is recognized in Net gains/losses on financial assets/liabilities at fair value through profit and loss. The aggregated carrying amounts of assets transferred to sponsored unconsolidated structured entities in 201 8 were € 4.1 billion for securitization and € 2.4 billion for repackaging and investment entities. In 201 7 , they were € 2.1 billion for securitization and € 26 million for repackaging and investment entities. |
Current and Non-Current Assets
Current and Non-Current Assets and Liabilities | 12 Months Ended |
Dec. 31, 2018 | |
Current and Non-Current Assets and Liabilities [Abstract] | |
Disclosure of Current and Non-Current Assets and Liabilities [text block] | Current and Non-Current Assets and Liabilities A sset and liability line item s by amounts recovered or settled within or after one year Asset items as of December 31, 20 18 Amounts recovered or settled Total in € m. within one year after one year Dec 31, 2018 Cash and central bank balances 188,691 40 188,732 Interbank balances (w/o central banks) 8,282 599 8,881 Central bank funds sold and securities purchased under resale agreements 5,861 2,361 8,222 Securities borrowed 3,396 0 3,396 Financial assets at fair value through profit or loss 536,367 36,977 573,344 Financial assets at fair value through other comprehensive income 16,725 34,457 51,182 Financial assets available for sale N/A N/A N/A Equity method investments 0 879 879 Loans at amortized cost 110,828 289,468 400,297 Securities held to maturity N/A N/A N/A Property and equipment 0 2,421 2,421 Goodwill and other intangible assets 0 9,141 9,141 Other assets 82,588 10,856 93,444 Assets for current tax 396 574 970 Total assets before deferred tax assets 953,134 387,774 1,340,907 Deferred tax assets 7,230 Total assets 1,348,137 Liability items as of December 31, 20 18 Amounts recovered or settled Total in € m. within one year after one year Dec 31, 2018 Deposits 531,700 32,705 564,405 Central bank funds purchased and securities sold under repurchase agreements 4,866 1 4,867 Securities loaned 3,359 0 3,359 Financial liabilities at fair value through profit or loss 410,409 5,271 415,680 Other short-term borrowings 14,158 0 14,158 Other liabilities 115,511 2,002 117,513 Provisions 2,711 0 2,711 Liabilities for current tax 286 658 944 Long-term debt 47,317 104,766 152,083 Trust preferred securities 3,168 0 3,168 Total liabilities before deferred tax liabilities 1,133,485 145,403 1,278,887 Deferred tax liabilities 512 Total liabilities 1,279,400 Asset items as of December 31, 20 17 Amounts recovered or settled Total in € m. within one year after one year Dec 31, 2017 Cash and central bank balances 225,537 118 225,655 Interbank balances (w/o central banks) 8,681 585 9,265 Central bank funds sold and securities purchased under resale agreements 9,216 755 9,971 Securities borrowed 16,710 22 16,732 Financial assets at fair value through profit or loss 623,075 13,895 636,970 Financial assets available for sale 9,882 39,514 49,397 Equity method investments 0 866 866 Loans 113,190 288,510 401,699 Securities held to maturity 0 3,170 3,170 Property and equipment 0 2,663 2,663 Goodwill and other intangible assets 0 8,839 8,839 Other assets 95,383 6,108 101,491 Assets for current tax 840 375 1,215 Total assets before deferred tax assets 1,102,514 365,419 1,467,933 Deferred tax assets 6,799 Total assets 1,474,732 Liability items as of December 31, 20 17 Amounts recovered or settled Total in € m. within one year after one year Dec 31, 2017 Deposits 550,987 30,886 581,873 Central bank funds purchased and securities sold under repurchase agreements 17,591 515 18,105 Securities loaned 6,688 1 6,688 Financial liabilities at fair value through profit or loss 473,165 5,471 478,636 Other short-term borrowings 18,411 0 18,411 Other liabilities 127,388 4,820 132,208 Provisions 4,158 0 4,158 Liabilities for current tax 366 635 1,001 Long-term debt 46,403 113,313 159,715 Trust preferred securities 4,825 666 5,491 Total liabilities before deferred tax liabilities 1,249,981 156,306 1,406,287 Deferred tax liabilities 346 Total liabilities 1,406,633 |
Events after the Reporting Peri
Events after the Reporting Period | 12 Months Ended |
Dec. 31, 2018 | |
Events after the Reporting Period [Abstract] | |
Disclosure of events after reporting period [text block] | After the reporting date no material events occurred which had a significant impact on our results of operations, financial position and net assets . |
Regulatory Capital Information
Regulatory Capital Information | 12 Months Ended |
Dec. 31, 2018 | |
Regulatory Capital Information [Abstract] | |
Disclosure of regulatory capital [text block] | General definitions The calculation of our regulatory capital incorporates the capital requirements following the “Regulation (EU) No 575/2013 on prudential requirements for credit institutions and investment firms” (Capital Requirements Regulation or “CRR”) and the “Directive 2013/36/EU on access to the activity of credit institutions and the prudential supervision of credit institutions and investment firms” (Capital Requirements Directive 4 or “CRD 4”) as implemented into German law. The information in this section as well as in the section “Development of risk-weighted Assets” is based on the regulatory principles of consolidation . This section refers to the capital adequacy of the group of entities consolidated for banking regulatory purposes pursuant to the CRR and the German Banking Act (“Kreditwesengesetz” or “KWG”). Therein not included are insurance companies or companies outside the finance sector. The total regulatory capital pursuant to the effective regulations as of year-end 2018 comprises Tier 1 and Tier 2 (T2) capital. Tier 1 capital is subdivided into Common Equity Tier 1 (CET 1) capital and Additional Tier 1 (AT1) capital. Common Equity Tier 1 (CET 1) capital consists primarily of common share capital (reduced by own holdings) including related share premium accounts, retained earnings (including losses for the financial year, if any) and accumulated other comprehensive income, subject to regulatory adjustments (i.e. prudential filters and deductions). Prudential filters for CET 1 capital, according to Articles 32 to 35 CRR, include (i) securitization gains on sale, (ii) cash flow hedges and changes in the value of own liabilities, and (iii) additional value adjustments. CET 1 capital deductions comprise (i) intangible assets, (ii) deferred tax assets that rely on future profitability, (iii) negative amounts resulting from the calculation of expected loss amounts, (iv) net defined benefit pension fund assets, (v) reciprocal cross holdings in the capital of financial sector entities and, (vi) significant and non-significant investments in the capital (CET 1, AT1, T2) of financial sector entities above certain thresholds. All items not deducted (i.e., amounts below the threshold) are subject to risk-weighting. Additional Tier 1 (AT1) capital consists of AT1 capital instruments and related share premium accounts as well as noncontrolling interests qualifying for inclusion in consolidated AT1 capital, and during the transitional period grandfathered instruments eligible under earlier frameworks. To qualify as AT1 capital under CRR/CRD 4, instruments must have principal loss absorption through a conversion to common shares or a write-down mechanism allocating losses at a trigger point and must also meet further requirements (perpetual with no incentive to redeem; institution must have full dividend/coupon discretion at all times, etc.). Tier 2 (T2) capital comprises eligible capital instruments, the related share premium accounts and subordinated long-term debt, certain loan loss provisions and noncontrolling interests that qualify for inclusion in consolidated T2 capital. To qualify as T2 capital, capital instruments or subordinated debt must have an original maturity of at least five years. Moreover, eligible capital instruments may inter alia not contain an incentive to redeem, a right of investors to accelerate repayment, or a credit sensitive dividend feature. Capital instruments that no longer qualify as AT1 or T2 capital under the CRR/CRD 4 fully loaded rules are subject to grandfathering rules during the transitional period and are phased out from 2013 to 2022 with their recognition capped at 40 % in 2018 and the cap decreasing by 10 % every year. Capital i nstruments Our Management Board received approval from the 2017 Annual General Meeting to buy back up to 206.7 million shares before the end of Apri l 2022. Thereof 103.3 million shares can be purchased by using derivatives, this includes 41.3 million derivatives with a maturity exceeding 18 months. During the period from the 2017 Annual General Meeting until the 2018 Annual General Meeting (May 24, 2018), 22.8 million shares have been purchased, of which 4.4 million shares through exercise of call options. The shares purchased were used for equity compensation purposes in the same period or are to be used in the upcoming period so that the number of shares held in Treasury from buybacks was 1.3 million as of the 2018 Annual General Meeting . The 2018 Annual General Meeting granted our Management Board the approval to buy back up to 206.7 million shares before the end of April 2023. Thereof 103.3 million shares can be purchased by using derivatives, this includes 41.3 million derivatives with a maturity exceeding 18 months. These authorizations substitute the authorizations of the previous year. During the period from the 2018 Annual General Meeting until December 31, 2018, 9.3 million shares were purchased. The shares purchased are to be used in the upcoming period so that the number of shares held in Treasury from buybacks was 1.2 million as of December 31, 2018. Since the 2017 Annual General Meeting, and as of December 31, 2018, authorized capital available to the Management Board is € 2,560 million ( 1,000 million shares ). As of December 31, 2018, the conditional capital against cash stands at € 512 million ( 200 million shares). Additional conditional capital for equity compensation amounts to € 51.2 million ( 20 million shares). Further the 2018 Annual General Meeting authorized the issuance of participatory notes and other Hybrid Debt Securities that fulfill the regulatory requirements to qualify as Additional Tier 1 capital with an equivalent value of € 8.0 billion . Our legacy Hybrid Tier 1 capital instruments (substantially all noncumulative trust preferred securities) are not recognized under fully loaded CRR/CRD 4 rules as Additional Tier 1 capital, mainly because they have no write-down or equity conversion feature. However, they are recognized as Additional Tier 1 capital under CRR/CRD 4 transitional provisions and can still be recognized as Tier 2 capital under the fully loaded CRR/CRD 4 rules. During the transitional phase-out period the maximum recognizable amount of Additional Tier 1 instruments from Basel 2.5 compliant issuances as of December 31, 2012 will be reduced at the beginning of each financial year by 10 % or € 1.3 billion , through 2022. For December 31, 2018, this resulted in eligible Additional Tier 1 instruments of € 7.6 billion (i.e. € 4.6 billion newly issued AT1 Notes plus € 3.0 billion of legacy Hybrid Tier 1 instruments recognizable during the transition period). € 3.0 bi llion of the legacy Hybrid Tier 1 instruments can still be recognized as Tier 2 capital under the fully loaded C RR/CRD 4 rules. Additional Tier 1 instruments recognized under fully loaded CRR/CRD 4 rules amounted to € 4.6 billion as of December 31, 2018. In 2018, the bank has redeemed one legacy Hybrid Tier 1 instrument with a notional of US $ 2.0 billion and an eligible equivalent amount of € 1.6 billion and another legacy Hybrid Tier 1 instrument with a notional of € 1.0 billion and an eligible equivalent amount of € 1.0 billion . The first redemption was already derecognized from regulatory Additional Tier 1 capital in 2017 with the effective date of the call-permission by the ECB. The total of our Tier 2 capital instruments as of December 31, 2018 recognized during the transition period under CRR/CRD 4 was € 6.2 billion . As of December 31, 2018, there were no legacy Hybrid Tier 1 instruments that are counted as Tier 2 capital under transitional rules. The gross notional value of the Tier 2 capital instruments was € 7.5 billion . Tier 2 instruments recognized under fully loaded CRR/CRD 4 rules amounted to € 9.2 billion as of December 31, 2018 (including the € 3.0 billion legacy Hybrid Tier 1 capital instruments only recognizable as Additional Tier 1 capital during the transitional period). In 2018, the bank has redeemed one Tier 2 capital instrument with a notional of JPY 21.0 billion and an eligible equivalent amount of € 0.1 billion and another Tier 2 capital instrument with a notional of JPY 3.0 billion and an eligible equivalent amount of € 0 billion . These redemptions were already derecognized from regulatory Tier 2 capital in 2017 with the effective date of the call-permission by the ECB . Minimum capital requirements Failure to meet minimum capital requirements can result in supervisory measures such as restrictions of profit distributions or limitations on certain businesses such as lending. We complied with the regulatory capital adequacy requirements in 2018 . Details o n regulatory capital Own Funds Template (incl. RWA and c apital r atios) Dec 31, 2018 Dec 31, 2017 in € m. CRR/CRD 4 1 CRR/CRD 4 Common Equity Tier 1 (CET 1) capital: instruments and reserves Capital instruments, related share premium accounts and other reserves 2 45,515 45,195 Retained earnings 16,297 17,977 Accumulated other comprehensive income (loss), net of tax 382 660 Independently reviewed interim profits net of any foreseeable charge or dividend 3 0 (751 ) Other 2 846 33 Common Equity Tier 1 (CET 1) capital before regulatory adjustments 63,041 63,114 Common Equity Tier 1 (CET 1) capital: regulatory adjustments Additional value adjustments (negative amount) (1,504 ) (1,204 ) Other prudential filters (other than additional value adjustments) (329 ) (74 ) Goodwill and other intangible assets (net of related tax liabilities) (negative amount) (8,566 ) (6,715 ) Deferred tax assets that rely on future profitability excluding those arising from (2,758 ) (2,403 ) Negative amounts resulting from the calculation of expected loss amounts 4 (367 ) (408 ) Defined benefit pension fund assets (negative amount) (1,111 ) (900 ) Direct, indirect and synthetic holdings by an institution of own CET 1 instruments (negative amount) (25 ) (117 ) Direct, indirect and synthetic holdings by the institution of the CET 1 instruments of financial sector entities where the institution has a significant investment in those entities (amount above the 10 % / 15 % thresholds and net of eligible short positions) (negative amount) 0 0 Deferred tax assets arising from temporary differences (net of related tax liabilities where the conditions in Art. 38 (3) CRR are met) (amount above the 10 % / 15 % thresholds) (negative amount) 0 0 Other regulatory adjustments 5 (895 ) (485 ) Total regulatory adjustments to Common Equity Tier 1 (CET 1) capital (15,555 ) (12,306 ) Common Equity Tier 1 (CET 1) capital 47,486 50,808 Additional Tier 1 (AT1) capital: instruments Capital instruments and the related share premium accounts 4,676 4,676 Amount of qualifying items referred to in Art. 484 (4) CRR and the related share 3,009 3,904 Additional Tier 1 (AT1) capital before regulatory adjustments 7,685 8,579 Additional Tier 1 (AT1) capital: regulatory adjustments Direct, indirect and synthetic holdings by an institution of own AT1 instruments (negative amount) (80 ) (26 ) Residual amounts deducted from AT1 capital with regard to deduction from CET 1 capital during the transitional period pursuant to Art. 472 CRR N/M (1,730 ) Other regulatory adjustments 0 0 Total regulatory adjustments to Additional Tier 1 (AT1) capital (80 ) (1,756 ) Additional Tier 1 (AT1) capital 7,604 6,823 Tier 1 capital (T1 = CET 1 + AT1) 55,091 57,631 Tier 2 (T2) capital 6,202 6,384 Total capital (TC = T1 + T2) 61,292 64,016 Total risk-weighted assets 350,432 343,316 Common Equity Tier 1 capital ratio (as a percentage of risk-weighted assets) 13.6 14.8 Tier 1 capital ratio (as a percentage of risk-weighted assets) 15.7 16.8 Total capital ratio (as a percentage of risk-weighted assets) 17.5 18.6 N/M – Not meaningful 1 With effect from January 1, 2018, the CRR/CRD 4 “transitional” (or “phase-in”) rules under which CET 1 regulatory adjustments were phased in have reached a rate of 100 % , together with the 100 % phase-out rate of minority interest only recognizable under the transitional rules. 2 Our IPO of DWS led to a € 0.9 billion CET 1 contribution which is reflected in ‘Capital instruments, related share premium accounts and other reserves’ at € 0.1 billion and minority interest in ‘Other’ at € 0.8 billion . 3 No interim profits to be recognized as per ECB Decision (EU) 2015/656 in accordance with the Article 26(2) of Regulation (EU) No 575/2013 (ECB/2015/4) . 4 Based on Article 159 CRR and recent guidance provided by EBA (Q&A 2017_3426) published on January 18, 2019 only unearned credit spread additional value adjustments are used as specific credit risk adjustments. 5 Includes € 0.6 billion capital deduction effective from January 2018 onwards, based on ECB guidance and following the EBA Guidelines on irrevocable payment commitments related to the Single Resolution Fund and the Deposit Guarantee Scheme. Further includes capital deduction of € 0.3 billion that was imposed on Deutsche Bank effective from October 2016 onwards based on a notification by the ECB pursuant to Article 16(1)(c) and 16(2)(d) of Regulation (EU) No 1024/2013. Reconciliation of shareholders’ equity to regulatory capital CRR/CRD 4 in € m. Dec 31, 2018 Dec 31, 2017 Total shareholders’ equity per accounting balance sheet 1 62,495 63,174 Deconsolidation/Consolidation of entities (33 ) (58 ) Of which: Additional paid-in capital (12 ) (6 ) Retained earnings (150 ) (228 ) Accumulated other comprehensive income (loss), net of tax 130 176 Total shareholders' equity per regulatory balance sheet 62,462 63,116 Minority Interests (amount allowed in consolidated CET 1) 1 846 33 Accrual for dividend and AT1 coupons 2 (267 ) 0 Reversal of deconsolidation/consolidation of the position Accumulated other comprehensive income (loss), 0 (35 ) Common Equity Tier 1 (CET 1) capital before regulatory adjustments 63,041 63,114 Additional value adjustments (1,504 ) (1,204 ) Other prudential filters (other than additional value adjustments) (329 ) (74 ) Regulatory adjustments relating to unrealized gains and losses pursuant to Art. 467 and 468 CRR 0 (144 ) Goodwill and other intangible assets (net of related tax liabilities) (8,566 ) (6,715 ) Deferred tax assets that rely on future profitability (2,758 ) (2,403 ) Defined benefit pension fund assets (1,111 ) (900 ) Direct, indirect and synthetic holdings by the institution of the CET 1 instruments of financial sector entities 0 0 Other regulatory adjustments (1,287 ) (866 ) Common Equity Tier 1 capital 47,486 50,808 1 Our IPO of DWS led to a € 0.9 billion CET 1 contribution which is reflected in the ‘Total shareholders’ equity per accounting balance sheet’ at € 0.1 billion and ‘Minority interests’ at € 0.8 billion . 2 No interim profits to be recognized as per ECB Decision (EU) 2015/656 in accordance with the Article 26(2) of Regulation (EU) No 575/2013 (ECB/2015/4) . |
Condensed Deutsche Bank AG (Deu
Condensed Deutsche Bank AG (Deutsche Bank AG) Financial Information | 12 Months Ended |
Dec. 31, 2018 | |
Condensed Deutsche Bank AG (Parent Company only) Financial Information [Abstract] | |
Disclosure of Condensed Deutsche Bank AG (Parent Company only) Financial Information [text block] | Condensed Deutsche Bank AG (Parent Company only) Financial Information Condensed Statement of Income in € m. 2018 2017 2016 Interest income, excluding dividends from subsidiaries 16,326 15,339 14,247 Dividends received from subsidiaries: Bank subsidiaries 2,511 1,185 1,042 Nonbank subsidiaries 2,064 1,962 2,935 Interest expense 9,700 9,575 7,947 Net interest and dividend income 11,201 8,912 10,278 Provision for credit losses 102 675 872 Net interest and dividend income after provision for credit losses 11,099 8,237 9,406 Noninterest income: Commissions and fee income 3,223 3,721 4,145 Net gains (losses) on financial assets/liabilities at fair value through profit or loss 1,436 2,789 1,791 Other income (loss) 1 (344 ) (744 ) (606 ) Total noninterest income 4,315 5,766 5,330 Noninterest expenses: Compensation and benefits 4,921 5,123 5,137 General and administrative expenses 6,070 6,347 7,524 Services provided by (to) affiliates, net 1,670 1,426 1,263 Impairment of goodwill and other intangible assets 0 6 14 Total noninterest expenses 12,661 12,902 13,938 Income (loss) before income taxes 2,753 1,101 797 Income tax expense (benefit) (122 ) (90 ) 161 Net income (loss) attributable to Deutsche Bank shareholders and additional equity components 2,875 1,191 636 1 Includes net gains (losses) on financial assets mandatory at fair value through other comprehensive income (in 2017 and 2016 on financial assets available for sale) and impairments/write-ups on investments in subsidiaries . Condensed Statement of Comprehensive Income in € m. 2018 2017 2016 Net income (loss) attributable to Deutsche Bank shareholders and additional equity components 2,875 1,191 636 Other comprehensive income (loss), net of tax 102 (2,486 ) 360 Total comprehensive income (loss), net of tax 2,977 (1,295 ) 996 Condensed Balance Sheet in € m. Dec 31, 2018 Dec 31, 2017 Assets: Cash and central bank balances: 140,841 176,661 Interbank balances (w/o central banks): Bank subsidiaries 19,543 27,110 Other 5,037 5,801 Central bank funds sold, securities purchased under resale agreements, securities borrowed: Bank subsidiaries 1,135 4,170 Nonbank subsidiaries 39,415 36,287 Other 8,454 10,497 Financial assets at fair value through profit or loss: Bank subsidiaries 5,573 6,508 Nonbank subsidiaries 3,973 5,010 Other 492,156 550,182 Financial assets at fair value through other comprehensive income 38,450 0 Financial assets available for sale 0 28,441 Investments in associates 288 290 Investment in subsidiaries: Bank subsidiaries 20,155 12,242 Nonbank subsidiaries 28,117 36,170 Loans: Bank subsidiaries 31,393 37,974 Nonbank subsidiaries 47,156 52,687 Other 150,153 151,912 Other assets: Bank subsidiaries 3,352 1,480 Nonbank subsidiaries 16,427 11,145 Other 77,570 90,263 Total assets 1,129,187 1,244,828 Liabilities and equity: Deposits: Bank subsidiaries 64,413 81,504 Nonbank subsidiaries 19,745 20,562 Other 287,444 307,162 Central bank funds purchased, securities sold under repurchase agreements and securities loaned: Bank subsidiaries 654 640 Nonbank subsidiaries 35,587 29,129 Other 7,491 16,766 Financial liabilities at fair value through profit or loss: Bank subsidiaries 5,078 5,423 Nonbank subsidiaries 2,461 2,531 Other 378,940 439,264 Other short-term borrowings: Bank subsidiaries 158 195 Nonbank subsidiaries 2,414 424 Other 13,672 17,766 Other liabilities: Bank subsidiaries 1,447 851 Nonbank subsidiaries 10,020 8,067 Other 100,413 107,830 Long-term debt 134,872 144,998 Total liabilities 1,064,808 1,183,113 Total shareholders’ equity 59,704 57,039 Additional equity components 4,675 4,675 Total equity 64,379 61,715 Total liabilities and equity 1,129,187 1,244,828 Condensed Statement of Cash Flows in € m. 2018 2017 2016 Net cash provided by (used in) operating activities (47,850 ) 40,931 25,873 Cash flows from investing activities: Proceeds from: Sale of financial assets at fair value through other comprehensive income 11,592 N/A N/A Maturities of financial assets at fair value through other comprehensive income 23,572 N/A N/A Sale of debt securities held to collect at amortized cost 93 N/A N/A Maturities of debt securities held to collect at amortized cost 58 N/A N/A Sale of financial assets available for sale N/A 7,627 22,205 Maturities of financial assets available for sale N/A 3,433 4,530 Maturities of securities held to maturity N/A 0 0 Sale of equity method investments 5 65 12 Sale of property and equipment 13 39 8 Purchase of: Financial assets at fair value through other comprehensive income (34,586 ) N/A N/A Debt Securities held to collect at amortized cost (129 ) N/A N/A Financial assets available for sale N/A (9,741 ) (15,150 ) Securities held to maturity N/A 0 0 Investments in associates 0 0 (11 ) Property and equipment (212 ) (261 ) (284 ) Net change in investments in subsidiaries 289 (2,222 ) (1,619 ) Other, net (1,024 ) (1,129 ) (1,360 ) Net cash provided by (used in) investing activities (329 ) (2,189 ) 8,331 Cash flows from financing activities: Issuances of subordinated long-term debt 10 865 792 Repayments and extinguishments of subordinated long-term debt (253 ) (45 ) (102 ) Issuances of trust preferred securities 0 0 1 Repayments and extinguishments of trust preferred securities 0 0 (2 ) Common shares issued 0 8,037 0 Purchases of treasury shares (4,119 ) (7,912 ) (5,256 ) Sale of treasury shares 3,925 7,471 4,979 Additional Equity Components (AT1) issued 0 0 0 Purchases of Additional Equity Components (AT1) (123 ) (149 ) (129 ) Sale of Additional Equity Components (AT1) 120 160 124 Coupon on additional equity components, pre tax (315 ) (335 ) (333 ) Cash dividends paid (227 ) (392 ) 0 Net cash provided by (used in) financing activities (982 ) 7,700 74 Net effect of exchange rate changes on cash and cash equivalents 1,243 (3,499 ) 187 Net increase (decrease) in cash and cash equivalents (47,918 ) 42,943 34,465 Cash and cash equivalents at beginning of period 187,759 144,816 110,351 Cash and cash equivalents at end of period 139,841 187,759 144,816 Net cash provided by (used in) operating activities include Income taxes paid (received), net (224 ) 258 (974 ) Interest paid 9,793 9,563 7,871 Interest received 19,660 15,308 14,346 Dividends received 2,957 4,098 1 1,800 1 Cash and cash equivalents comprise Cash and central bank balances (not included Interest-earning time deposits with central banks) 127,871 175,463 119,213 Interbank balances (w/o central banks) 11,970 12,296 25,603 Total 139,841 187,759 144,816 1 Prior year data adjusted due to refinement in the methodology. Parent Company’s Long-Term Debt by Remaining Maturities By remaining maturities Due in Due in Due in Due in Due in Due after Total Total in € m. Senior debt: Bonds and notes: Fixed rate 13,916 7,502 14,632 6,227 5,960 13,815 62,053 59,517 Floating rate 8,061 4,540 5,339 3,553 2,321 6,844 30,658 33,142 Subordinated debt Bonds and notes: Fixed rate 3,239 1,135 0 0 0 2,858 7,232 9,769 Floating rate 0 180 0 0 1,202 476 1,858 1,934 Other 20,809 2,206 1,324 490 838 7,404 33,072 40,636 Total long-term debt 46,025 15,563 21,295 10,271 10,321 31,396 134,872 144,998 |
SEC Registered Trust Preferred
SEC Registered Trust Preferred Securities | 12 Months Ended |
Dec. 31, 2018 | |
SEC Registered Trust Preferred Securities [Abstract] | |
Disclosure of SEC registered Trust preferred securities [text block] | SEC Registered Trust Preferred Securities Deutsche Bank AG has, via two subsidiaries, issued “trust preferred” securities that are listed on the New York Stock Exchange. In each such transaction, a Delaware statutory business trust (the “Trust”) issues trust preferred securities (the “Trust Preferred Securities”) in a public offering in the United States. All the proceeds from the sale of the Trust Preferred Securities are invested by the Trust in the Class B Preferred Securities (the “Class B Preferred Securities”) of a wholly-owned subsidiary of Deutsche Bank AG organized in the form of a limited liability company (the “LLC”). The LLC uses all the proceeds from the sale of the Class B Preferred Securities to the Trust to purchase a debt obligation from Deutsche Bank AG (the “Debt Obligation”). The distributions on the Class B Preferred Securities match those of the Trust Preferred Securities. The Trust Preferred Securities and the Class B Preferred Securities pay distributions quarterly in arrears and are redeemable only upon the occurrence of certain events specified in the documents governing the terms of those securities. Subject to limited exceptions, the Class B Preferred Securities generally could not be redeemed until at least ten years after their issuance. The Trust Preferred Securities and the Class B Preferred Securities are each subject to a full and unconditional subordinated guarantee of Deutsche Bank AG. These subordinated guarantees are general and unsecured obligations of Deutsche Bank AG and rank, both as to payment and in liquidation of Deutsche Bank AG, junior in priority of payment to all current and future indebtedness of Deutsche Bank AG and on parity in priority of payment with the most senior preference shares, if any, of Deutsche Bank AG. Issuances of SEC Registered Trust Preferred Securities Trust LLC Issuance Date Next Parent Long-term Debt 1 Deutsche Bank Contingent Capital Trust II Deutsche Bank May 23, 2007 May 23, 2019 € 699 million Deutsche Bank Contingent Capital Trust V Deutsche Bank May 9, 2008 2 March 30, 2019 € 1,210 million 1 Amount of long term-debt of the Parent Company represented by the Debt Obligations issued by Deutsche Bank AG to the applicable LLC and amount of Trust Preferred Securities of Deutsche Bank AG Consolidated represented by the Trust Preferred Securities issued by the respective Trust as of December 31, 2018. 2 On March 30, 2010 Deutsche Bank AG additionally issued an amount of U.S.$ 120 million . |
Risk Report_ Risk and Capital F
Risk Report: Risk and Capital Framework | 12 Months Ended |
Dec. 31, 2018 | |
Risk and Capital Framework [Abstract] | |
Risk Management Principles [text block] | a Core risk management responsibilities are embedded in the Management Board and delegated to senior risk managers and senior risk management committees responsible for execution and oversight. We operate a Three Lines of Defense (“3LoD”) risk management model, in which risk, control and reporting responsibilities are defined. The 1st Line of Defense (“1st LoD”) refers to those roles in the Bank whose activities generate risks, whether financial or non-financial, and who own the risks that are generated in their respective organizations. The 1st LoD manages these risks within the defined risk appetite and ensures that organization, governance and structures are in place to identify, monitor, assess and accept or mitigate the risks they generate or are exposed to. The 2nd Line of Defense (“2nd LoD”) refers to the risk type controller roles in the Bank who facilitate the implementation of a sound risk management framework throughout the organization. The 2nd LoD defines the risk appetite and risk management and control standards for their risk type, and independently oversees and challenges the risk taking and risk management activities of the 1st LoD. The 3rd Line of Defense (“3rd LoD”) is Group Audit, which is accountable for providing independent and objective assurance on the adequacy of the design and effectiveness of the systems of internal control and risk management. The risk strategy is approved by the Management Board on an annual basis and is defined based on the Group Risk Appetite and the Strategic and Capital Plan in order to align risk, capital and performance targets. Cross-risk analysis reviews are conducted across the Group to validate that sound risk management practices and a holistic awareness of risk exist. All material risk types, including credit risk, market risk, operational risk, liquidity risk, business risk and reputational risk, are managed via risk management processes. Modeling and measurement approaches for quantifying risk and capital demand are implemented across the material risk types. For more details, refer to section “Risk and Capital Management” for the management processes of our material risks. Monitoring, stress testing tools and escalation processes are in place for key capital and liquidity thresholds and metrics. Systems, processes and policies are critical components of our risk management capability. Recovery and contingency planning provides the escalation path for crisis management and supplies senior management with a set of actions designed to improve the capital and liquidity positions in a stress event. Resolution planning is the responsibility of our resolution authority, the Single Resolution Board. It provides a strategy to manage Deutsche Bank in case of default. It is designed to prevent major disruptions to the financial system or the wider economy through maintaining critical services. We apply an integrated risk management approach that aims at Group-wide consistency in risk management standards, while allowing for adaptation to local or legal entity specific requirements. |
Risk Governance paragraph 1 [text block] | Risk g overnance Our operations throughout the world are regulated and supervised by relevant authorities in each of the jurisdictions in which we conduct business. Such regulation focuses on licensing, capital adequacy, liquidity, risk concentration, conduct of business as well as organizational and reporting requirements. The European Central Bank (the “ECB”) in connection with the competent authorities of EU countries which joined the Single Supervisory Mechanism via the Joint Supervisory Team act in cooperation as our primary supervisors to monitor our compliance with the German Banking Act and other applicable laws and regulations as well as the CRR/CRD 4 framework and respective implementations into German law. |
Risk Governance paragraph 2 [text block] | Several layers of management provide cohesive risk governance: The Supervisory Board is informed regularly on our risk situation, risk management and risk controlling, as well as on our reputation and material litigation cases. It has formed various committees to handle specific tasks (for a detailed description of these committees, please see the “Corporate Governance Report” under “Management Board and Supervisory Board”, “Standing Committees”). At the meetings of the Risk Committee, the Management Board reports on key risk portfolios, on risk strategy and on matters of special importance due to the risks they entail. It also reports on loans requiring a Supervisory Board resolution pursuant to law or the Articles of Association. The Risk Committee deliberates with the Management Board on issues of the overall risk appetite, aggregate risk position and the risk strategy and supports the Supervisory Board in monitoring the implementation of this strategy. The Integrity Committee, among other responsibilities, monitors the Management Board’s measures that promote the company’s compliance with legal requirements, authorities’ regulations and the company’s own in-house policies. It also reviews the Bank’s Code of Business Conduct and Ethics, and, upon request, supports the Risk Committee in monitoring and analyzing the Bank’s legal and reputational risks. The Audit Committee, among other matters, monitors the effectiveness of the risk management system, particularly the internal control system and the internal audit system. The Management Board is responsible for managing Deutsche Bank Group in accordance with the law, the Articles of Association and its Terms of Reference with the objective of creating sustainable value in the interest of the company, thus taking into consideration the interests of the shareholders, employees and other stakeholders. The Management Board is responsible for establishing a proper business organization, encompassing appropriate and effective risk management. The Management Board established the Group Risk Committee (“GRC”) as the central forum for review and decision on material risk and capital-related topics. The GRC generally meets once a week. It has delegated some of its duties to individuals and sub-committees. The GRC and its sub-committees are described in more detail below. Risk m anagement g overnance s tructure of the Deutsche Bank Group The following functional committees are central to the management of risk at Deutsche Bank: The Group Risk Committee (GRC) has various duties and dedicated authority, including approval of new or materially changed risk and capital models, review of high-level risk portfolios, risk exposure developments, and internal and regulatory Group-wide stress testing results, and monitoring of risk culture across the Group. The GRC sets risk appetite targets, for example in the form of limits or thresholds. In addition, the GRC reviews and recommends items for Management Board approval, such as key risk management principles, the Group Recovery Plan and the Contingency Funding Plan, over-arching risk appetite parameters, and recovery and escalation indicators. The GRC also supports the Management Board during Group-wide risk and capital planning processes. The Non-Financial Risk Committee (NFRC) oversees, governs and coordinates the management of non-financial risks in Deutsche Bank Group and establishes a cross-risk and holistic perspective of the key non-financial risks of the Group, including conduct and financial crime risk. It is tasked to define the non-financial risk appetite tolerance framework, to monitor and control the effectiveness of the non-financial risk operating model (including interdependencies between business divisions and control functions), and to monitor the development of emerging non-financial risks relevant for the Group. The Group Reputational Risk Committee (GRRC) is responsible for the oversight, governance and coordination of reputational risk management and provides for a look-back and a lessons learnt process. It reviews and decides all reputational risk issues escalated by the Regional Reputational Risk Committees (“RRRCs”) and RRRC decisions which have been appealed by the business divisions, infrastructure functions or regional management. It provides guidance on Group-wide reputational risk matters, including communication of sensitive topics, to the appropriate levels of Deutsche Bank Group. The RRRCs which are sub-committees of the GRRC, are responsible for the oversight, governance and coordination of the management of reputational risk in the respective regions on behalf of the Management Board. The Enterprise Risk Committee (ERC) has been established with a mandate to focus on enterprise-wide risk trends, events and cross-risk portfolios, bringing together risk experts from various risk disciplines. As part of its mandate, the ERC approves the enterprise risk inventory, certain country and industry threshold increases, and scenario design outlines for more severe group-wide stress tests as well as reverse stress tests. It reviews group-wide stress test result s in accordance with risk appetite , reviews the risk outlook, emerging risks and topics with enterprise-wide risk implications like risk culture. The Financial Resource Management Council (FRMC) is an ad-hoc governance body, chaired by the Chief Financial Officer and Chief Risk Officer with delegated authority from the Management Board, to oversee financial crisis management at the bank. The FRMC provides a single forum to oversee execution of both the Contingency Funding Plan and the Group Recovery Plan. The council recommends upon mitigating actions to be taken in a time of anticipated or actual capital or liquidity stress. Specifically, the FRMC is tasked with analy z ing the bank’s capital and liquidity position, in anticipation of a stress scenario recommending proposals for capital and liquidity related matters, and ensure execution of decisions. The Group Asset & Liability Committee has been established by the Management Board in 2018. Its mandate is to optimi z e the sourcing and deployment of the bank’s balance sheet and financial resources within the overarching risk appetite set by the Management Board. Our Chief Risk Officer (CRO ), who is a member of the Management Board, has Group-wide, supra-divisional responsibility for the management of all credit, market, liquidity and operational risks as well as for the continuing development and enhancement of methods for risk measurement. In addition, the CRO is responsible for monitoring, analy z ing and reporting risk on a comprehensive basis. The CRO has direct management responsibility for the Risk function. Risk management & control duties in the Risk function are generally assigned to specialized risk management units focusing on the management of Specific risk types Risks within a specific business Risks in a specific region. These specialized risk management units generally handle the following core tasks: Foster consistency with the risk appetite set by the GRC within a framework established by the Management Board and applied to Business Divisions; Determine and implement risk and capital management policies, procedures and methodologies that are appropriate to the businesses within each division; Establish and approve risk limits; Conduct periodic portfolio reviews to keep the portfolio of risks within acceptable parameters; and Develop and implement risk and capital management infrastructures and systems that are appropriate for each division. Additionally, Business Aligned Risk Management (BRM) represents the Risk function vis-à-vis specific business areas. The CROs for each business division manage their respective risk portfolio, taking a holistic view of each division to challenge and influence the division’s strategy and risk ownership and implement risk appetite. The speciali z ed risk management functions are complemented by our Enterprise Risk Management (ERM) function, which sets a bank-wide risk management framework seeking to ensure that all risks at the Group and Divisional level are identified, owned and assessed for materiality. Material risks are owned and contr olled by functional (usually 1 st LoD) risk teams within the agreed risk appetite and risk management principles. ERM is responsible for aggregating and analy z ing enterprise-wide risk information, including review of the risk/return profiles of portfolios to support informed strategic decision-making regarding the effective application of the Bank’s resources. ERM has the mandate to: Manage enterprise risk appetite at Group level, including the framework and methodology as to how appetite is applied across risk types, divisions, businesses and legal entities; Integrate and aggregate risks to provide greater enterprise risk transparency to support decision making; Commission forward-looking stress tests and manage Group recovery and resolution plans; and Govern and improve the effectiveness of the risk management framework. The speciali z ed risk management functions and ERM have a reporting line to the CRO . While operating independently from each other and the business divisions, our Finance and Risk functions have the joint responsibility to quantify and verify the risk that we assume. In May 2018, we fully merged our subsidiary Deutsche Postbank AG into the subsidiary DB PGK AG, to form “DB Privat- und Firmenkundenbank AG” (DB PFK AG). As a result, the existing joint risk management for the previously individual subsidiaries has been adjusted to reflect the new setup and size of the entity. The joint risk management of our enlarged subsidiary DB PFK AG is promoted through harmonized processes for identifying, assessing, managing, monitoring, and communicating risk, the strategies and procedures for determining and safeguarding risk-bearing capacity, and corresponding internal control procedures as well as joint governance . Key features of the adjusted setup are: Established DB PFK AG Risk Management structure which continues to have additional functional reporting lines into Deutsche Bank AG Risk Involvement of the central DB PFK AG Risk Committee in the Group Risk Committee through mutual memberships Extension of selected risk committees of DB PFK AG to include voting members of relevant risk functions of D eutsche Bank AG, and vice versa Alignment to key Group risk policies Joint DB PFK AG reporting across the merged portfolios for all risk types and inclusion of DB PFK AG in the Group Risk and Capital Profile Independent DB PFK AG business and risk strategy aligned with and embedded in the Group Risk Appetite Framework, Strategy and Policies |
Risk Report - Risk Management
Risk Report - Risk Management | 12 Months Ended |
Dec. 31, 2018 | |
Risk Management [Abstract] | |
Risk Identification and Assessment [text block] | Risk Identification and Assessment Our business activities generate credit risks, market risks, business risks, liquidity risks, cross risks, operational risks and reputational risks. We regularly identify risks to our business’ and infrastructure’s operations, also under stressed conditions, and assess the materiality of identified risks with respect to their severity and likelihood of materialization. The assessment of current risks is complemented by a view on emerging risks applying a forward-looking perspective. This risk identification and assessment process results in our risk inventory which captures the material risks across relevant businesses and entities. Regular updates to the risk inventory are reported to senior management together with the risk profile and inform our risk management processes. Throughout 2018 we have strengthened the enterprise risk identification and assessment framework applicable to Deutsche Bank Group and key entities. The enhanced process involves both first line and second line input into risk identification and the assessment of the risks’ materiality. This framework provides the basis, on which we can aggregate risks for the Group across businesses and entities. The resulting inventory of risks, after review and challenge by senior management, informs key risk management processes including the development of stress scenarios tailored to Deutsche Bank’s risk profile, the calibration of risk appetite and the risk profile monitoring and reporting. |
Credit Risk Management [Abstract] | |
Credit Risk Framework [text block] | Credit Risk Management Credit Risk f ramework Credit R isk arises from all transactions where actual, contingent or potential claims against any counterparty, borrower, obligor or issuer (which we refer to collectively as “counterparties”) exist, including those claims that we plan to distribute. These transactions are typically part of our non - trading lending activities (such as lo ans and contingent liabilities) as well as our direct trading activity with clients (such as OTC derivatives). These also include traded bonds and debt securities. Carrying values of equity investments are also disclosed in our Credit Risk section. We manage the respective positions within our market risk and credit risk frameworks. Based on the annual risk identification and materiality assessment, Credit Risk is grouped into five categories, namely default/ migration risk, country risk, transaction/ settlement risk (exposure risk), mitigation (failure) risk and concentration risk. Default/Migration Risk is the risk that a counterparty defaults on its payment obligations or experiences material credit quality deterioration increasing the likelihood of a default. Country Risk is the risk that otherwise solvent and willing counterparties are unable to meet their obligations due to direct sovereign intervention or policies. Tran saction/ Settlement Risk (Exposure Risk) is the risk that arises from any existing, contingent or potential future positive exposure. Mitigation Risk is the risk of higher losses due to risk mitigation measures not performing as anticipated. Concentration Risk is the risk of an adverse development in a specific single counterparty, country, industry or product leading to a disproportionate deterioration in the risk profile of Deutsche Bank’s credit exposures to that counterparty, country, industry or product. We measure, manage /mitigate and report/monitor our credit risk using the following philosophy and principles: Our C redit R isk M anagement function is independent from our business divisions and in each of our divisions, credit decision standards, processes and principles are consistently applied. A key principle of credit risk management is client credit due diligence. Our client selection is achieved in collaboration with our business division counter parts who stand as a first line of defen s e. We aim to prevent undue concentration and tail-risks (large unexpected losses) by maintaining a diversified credit portfolio. Client, industry, country and product-specific concentrations are assessed and managed against our risk appetite. We maintain underwriting standards aiming to avoid large undue credit risk on a counterparty and portfolio level. In this regard we assume unsecured cash positions and actively use hedging for risk mitigation purposes. Additionally, we strive to secure our derivative portfolio through collateral agreements and may additionally hedge concentration risks to further mitigate credit risks from underlying market movements. Every new credit facility and every extension or material change of an existing credit facility (such as its tenor, collateral structure or major covenants) to any counterparty requires credit approval at the appropriate authority level. We assign credit approval authorities to individuals according to their qualifications, experience and training, and we review these periodically. We measure and consolidate all our credit exposures to each obligor across our consolidated Group on a global basis, in line with regulatory requirements. We manage credit exposures on the basis of the “one obligor principle” (as required under CRR Article 4(1)(39)) , under which all facilities to a group of borrowers w hich are linked to each other (for example by one entity holding a majority of the voting rights or capital of another) are consolidated under one group. We have established within Credit Risk Management – where appropriate – specialized teams for deriving internal client ratings, analyzing and approving transactions, monitoring the portfolio or covering workout clients. Where required, we have established processes to report credit exposures at legal entity level. |
Measuring credit risk paragraph 1 [text block] | Measuring Credit Risk Credit Risk is measured by credit rating, regulatory and internal capital demand and key credit metrics mentioned below. The credit rating is an essential part of the Bank’s underwriting and credit process and builds the basis for risk appetite determination on a counterparty and portfolio level, credit decision and transaction pricing as well the determination of credit risk regulatory capital . Each counterparty must be rated and each rating has to be reviewed at least annually. Ongoing monitoring of counterparties helps keep ratings up-to-date. There must be no credit limit without a credit rating. For each credit rating the appropriate rating approach has to be applied and the derived credit rating has to be established in the relevant systems. Different rating approaches have been established to best reflect the specific characteristics of exposure classes, including central governments and central banks, institutions, corporates and retail. Counterparties in our non-homogenous portfolios are rated by our independent Credit Risk Management function. Country risk related ratings are provided by ERM Risk Research . Our rating analysis is based on a combination of qualitative and quantitative factors. When rating a counterparty we apply in-house assessment methodologies, scorecards and our 21-grade rating scale for evaluating the credit-worthiness of our counterparties. |
Measuring credit risk paragraph 2 [text block] | Besides the credit rating which is t he key credit risk metric we apply for managing our credit portfolio, including transaction approval and the setting of risk appetite, we establish internal limits and credit exposures under these limits. Credit limits set forth maximum credit exposures we are willing to assume over specified periods. In determining the credit limit for a counterparty, we consider the counterparty’s credit quality by reference to our internal credit rating. Credit limits and credit exposures are both measured on a gross and net basis where net is derived by deducting hedges and certain collateral from respective gross figures. For derivatives, we look at current market values and the potential future exposure over the relevant time horizon which is based upon our legal agreements with the counterparty . We generally also take into con sideration the risk-r eturn characteristics of individual transactions and portfolios. Risk-Return metrics explain the development of client revenues as well as capital consumption. In this regard we also look at the client revenues in relation to the balance sheet consumption. |
Managing and Mitigation of credit risk paragraph 1 [text block] | Managing and m itigation of Credit Risk Managing Credit Risk on c ounterparty l evel Credit-related counterparties are principally allocated to credit officers within credit teams which are aligned to types of counterparty (such as financial institutions, corporates or private individuals) or economic area (e.g. , emerging markets) and dedicated rating analyst teams. The individual credit officers have the relevant expertise and experience to manage the credit risks associated with these counterparties and their associated credit related transactions. For retail clients , credit decision making and credit monitoring is highly automated for efficiency reasons. Credit Risk Management has full oversight of the respective processes and tools used in the retail credit process. It is the responsibility of each credit officer to undertake ongoing credit monitoring for their allocated portfolio of counterparties. We also have procedures in place intended to identify at an early stage credit exposures for which there may be an increased risk of loss. In instances where we have identified counterparties where there is a concern that the credit quality has deteriorated or appears likely to deteriorate to the point where they present a heightened risk of loss in default, the respective exposure is generally placed on a “watchlist”. We aim to identify counterparties that, on the basis of the application of our risk management tools, demonstrate the likelihood of problems well in advance in order to effectively manage the credit exposure and maximize the recovery. The objective of this early warning system is to address potential problems while adequate options for action are still available. This early risk detection is a tenet of our credit culture and is intended to ensure that greater attention is paid to such exposures. Credit limits are established by the Credit Risk Management function via the execution of assigned credit authorities. This also applies to settlement risk that must fall within limits pre-approved by Credit Risk Management considering risk appetite and in a manner that reflects expected settlement patterns for the subject counterparty. Credit approvals are documented by the signing of the credit report by the respective credit authority holders and retained for future reference. Credit authority is generally assigned to individuals as personal credit authority according to the individual’s professional qualification , experience and training . All assigned credit authorities are reviewed on a periodic basis to help ensure that they are commensurate with the individual performance of the authority holder. Where an individual’s personal authority is insufficient to establish required credit limits, the transaction is referred to a higher credit authority holder or where necessary to an appropriate credit committee. Where personal and committee authorities are insufficient to establish appropriate limits, the case is referred to the Management Board for approval. Mitigation of Credit Risk on c ounterparty l evel In addition to determining counterparty credit quality and our risk appetite, we also use various credit risk mitigation techniques to optimize credit exposure and reduce potential credit losses. Credit risk mitigants are applied in the following forms: Comprehensive and enforceable credit documentation with adequate terms and conditions. Collateral held as security to reduce losses by increasing the recovery of obligations. Risk transfers, which shift the loss arising from the probability of default risk of an obligor to a third party including hedging executed by our Credit Portfolio Strategies Group. Netting and collateral arrangements which reduce the credit exposure from derivatives and securities financing transactions (e.g. repo transactions). Hedging of derivatives counterparty risk including CVA, using primarily CDS contracts via our Counterparty Portfolio Management desk . Collateral We regularly agree on collateral to be received from or to be provided to customers in contracts that are subject to credit risk. Collateral is security in the form of an asset or third-party obligation that serves to mitigate the inherent risk of credit loss in an exposure, by either substituting the counterparty default risk or improving recoveries in the event of a default. While collateral can be an alternative source of repayment, it does not replace the necessity of high quality underwriting standards and a thorough assessment of the debt service ability of the counterparty in line with CRR Article 194 (9). We segregate collateral received into the following two types: Financial and other collateral, which enables us to recover all or part of the outstanding exposure by liquidating the collateral asset provided, in cases where the counterparty is unable or unwilling to fulfill its primary obligations. Cash collateral, securities (equity, bonds), collateral assignments of other claims or inventory, equipment (i.e., plant, machinery and aircraft) and real estate typically fall into this category. All financial collateral is regularly, mostly daily, revalued and measured against the respective credit exposure. The value of other collateral, including real estate, is monitored based upon established processes that includes regular revaluations by internal and/or external experts. Guarantee collateral, which complements the counterparty’s ability to fulfill its obligation under the legal contract and as such is provided by third parties. Letters of credit, insurance contracts, export credit insurance, guarantees, credit derivatives and risk participations typically fall into this category. Guarantee collateral with a non-investment grade rating of the guarantor is limited. Our processes seek to ensure that the collateral we accept for risk mitigation purposes is of high quality. This includes seeking to have in place legally effective and enforceable documentation for realizable and measureable collateral assets which are evaluated regularly by dedicated teams. The assessment of the suitability of collateral for a specific transaction is part of the credit decision and must be undertaken in a conservative way, including collateral haircuts that are applied. We have collateral type specific haircuts in place which are regularly reviewed and approved. In this regard, we strive to avoid “wrong-way” risk characteristics where the counterparty ’s risk is positively correlated with the risk of deterioration in the collateral value. For guarantee collateral, the process for the analysis of the guarantor’s creditworthiness is aligned to the credit assessment process for counterparties . The valuation of collateral is considered under a liquidation scenario. Liquidation value is equal to the expected proceeds of collateral monetization / realization in a base case scenario, wherein a fair price is achieved through careful preparation and orderly liquidation of the collateral. Collateral can either move in value over time (dynamic value) or not (static value). The dynamic liquidation value generally includes a safety margin or haircut over realizable value to address liquidity and marketability aspects. The Group assigns a liquidation value to eligible collateral, based on, among other things: the market value and / or lending value, notional amount or face value of a collateral as a starting point; the type of collateral; the currency mismatch, if any, between the secured exposure and the collateral; and a maturity mismatch, if any; the applicable legal environment or jurisdiction (onshore versus offshore collateral); the market liquidity and volatility in relation to agreed termination clauses; the correlation between the performance of the borrower and the value of the collateral, e.g., in the case of the pledge of a borrower’s own shares or securities (in this case generally full correlation leads to no liquidation value); the quality of physical collateral and potential for litigation or environmental risks; and a determined collateral type specific haircut (0 – 100 %) reflecting collection risks (i.e. price risks over the average liquidation period and processing/utilization/sales cost) as specified in the respective policies. Collateral haircut settings are typically based on available historic internal and/or external recovery data (expert opinions may also be used, where appropriate). They also incorporate a forward-looking component in the form of collection and valuation forecast provided by experts within Risk Management. When data is not sufficiently available or inconclusive, more conservative haircuts than otherwise used must be applied. Haircut settings are reviewed at least annually. |
Managing and Mitigation of credit risk paragraph 2 [text block] | In order to reduce the credit risk resulting from OTC derivative transactions, where CCP clearing is not available, we regularly seek the execution of standard master agreements (such as master agreements for derivatives published by the International Swaps and Derivatives Association, Inc. (ISDA) or the German Master Agreement for Financial Derivative Transactions) with our counterparts. A master agreement allows for the close-out netting of rights and obligations arising under derivative transactions that have been entered into under such a master agreement upon the counterparty’s default, resulting in a single net claim owed by or to the counterparty. For parts of the derivatives business (e.g., foreign exchange transactions) we also enter into master agreements under which payment netting applies in respect to transactions covered by such master agreements, reducing our settlement risk. In our risk measurement and risk assessment processes we apply close-out netting only to the extent we have satisfied ourselves of the legal validity and enforceability of the master agreement in all relevant jurisdictions. Also, we enter into credit support annexes (CSA) to master agreements in order to further reduce our derivatives-related credit risk. These annexes generally provide risk mitigation through periodic, usually daily, margining of the covered exposure. The CSAs also provide for the right to terminate the related derivative transactions upon the counterparty’s failure to honor a margin call. As with netting, when we believe the annex is enforceable, we reflect this in our exposure measurement. |
Managing and Mitigation of credit risk paragraph 3 [text block] | Concentrations within Credit Risk m itigation Concentrations within credit risk mitigations taken may occur if a number of guarantors and credit derivative providers with similar economic characteristics are engaged in comparable activities with changes in economic or industry conditions affecting their ability to meet contractual obligations. We use a range of tools and metrics to monitor our cre dit risk mitigating activities. |
Managing and Mitigation of credit risk paragraph 4 [text block] | Managing Credit Risk on p ortfolio l evel On a portfolio level, significant concentrations of credit risk could result from having material exposures to a number of counterparties with similar economic characteristics, or who are engaged in comparable activities, where these similarities may cause their ability to meet contractual obligations to be affected in the same manner by changes in economic or industry conditions. Our portfolio management framework supports a comprehensive assessment of concentrations within our credit risk portfolio in order to keep concentrations within acceptable levels. Industry r isk m anagement To manage industry risk, we have grouped our corporate and financial institutions counterparties into various industry sub-portfolios. Portfolios are regularly reviewed with the frequency of review according to portfolio size and risk profile as well as risk developments. Larger / riskier portfolios are reviewed at least on an annual basis. Reviews highlight industry developments and risks to our credit portfolio, review cross- risk concentration risks, analyz e the risk/reward profile of the portfolio and incorporate the results of an economic downside stress test. Finally, this analysis is used to define the credit strategies for the portfolio in question . In our Industry Limit framework, thresholds are established for aggregate credit limits to counterparties within each industry sub-portfolio . Regular overviews are prepared for the Enterprise Risk Committee to discuss recent developments and to agree on actions where necessary Beyond credit risk, our Industry Risk Framework comprises of Market Risk thresholds for Traded Credit Positions while key non-financial risks are closely monitored. Country r isk m anagement Avoiding undue concentrations from a regional perspective is also an integral part of our credit risk management framework. In order to achieve this, country risk limits are applied to Emerging Markets as well as selected Developed Markets countries (based on internal country risk ratings). Similar to industry risk, country portfolios are regularly reviewed with the frequency of review according to portfolio size and risk profile as well as risk developments. Larger / riskier portfolios are reviewed at least on an annual basis. These reviews assess key macroeconomic developments and outlook, review portfolio composition and cross-risk concentration risks and analyze the risk/reward profile of the portfolio. Based on this, thresholds and strategies are set for countries and, where relevant, for the region as a whole . In our Country Limit framework, thresholds are established for counterparty credit risk exposures in a given country to manage the aggregated credit risk subject to country-specific economic and political events. These thresholds include exposures to entities incorporated locally as well as subsidiaries of foreign multinational corporations. Also, gap risk thresholds are set to control the risk of loss due to intra-country wrong-way risk exposure. Beyond credit risk, our Country Risk Framework comprises Market Risk thresholds for trading positions in emerging markets that are based on the P&L impact of potential stressed market events on these positions. Furthermore we take into consideration treasury risk comprising thresholds for capital positions and intra-group funding exposure of Deutsche Bank entities in above countries given the transfer risk inherent in these cross-border positions. Key non-financial risks are closely monitored. Our country risk ratings represent a key tool in our management of country risk. They are established by the independent ERM Risk Research function within Deutsche Bank and include : Sovereign rating: A measure of the probability of the sovereign defaulting on its foreign or local currency obligations. Transfer risk rating: A measure of the probability of a “transfer risk event”, i.e., the risk that an otherwise solvent debtor is unable to meet its obligations due to inability to obtain foreign currency or to transfer assets as a result of direct sovereign intervention. Event risk rating: A measure of the probability of major disruptions in the market risk factors relating to a country (interest rates, credit spreads, etc.). Event risks are measured as part of our event risk scenarios, as described in the section “Market Risk Measurement” of this report. All sovereign and transfer risk ratings are reviewed, at least on an annual basis . Product/Asset class specific r isk m anagement Complementary to our counterparty, industry and country risk approach, we focus on product/asset class specific risk concentrations and selectively set limits, thresholds or indicators where required for risk management purposes. Specific risk limits are set in particular if a concentration of transactions of a specific type might lead to significant losses under certain conditions. In this respect, correlated losses might result from disruptions of the functioning of financial markets, significant moves in market parameters to which the respective product is sensitive, macroeconomic default scenarios or other factors. Specific focus is put on concentrations of transactions with underwriting risks where we underwrite commitments with the intention to sell down or distribute part of the risk to third parties. These commitments include the undertaking to fund bank loans and to provide bridge loans for the issuance of public bonds. The risk is that we may not be successful in the distribution of the facilities, meaning that we would have to hold more of the underlying risk for longer periods of time than originally intended. These underwriting commitments are additionally exposed to market risk in the form of widening credit spreads. We dynamically hedge this credit spread risk to be within the approved market risk limit framework . A major asset class, in which DB is active in underwriting, is leverage lending, which we mainly execute through our Leveraged Debt Capital Markets (LDCM) business unit. The business model is a fee-based ‚originate to distribute‘ approach based on the distribution of largely unfunded underwriting commitments into the capital market. The aforementioned risks regarding distribution and credit spread movement apply to this business unit, however, are managed under a range of specific notional as well as market risk limits. The latter require the business to also hedge its underwriting pipeline against market dislocations. The fee-based model of our LDCM business unit includes a restrictive approach to related credit exposures retained on DB‘s balance sheet, which results in low hold levels for individual clients leading to a diversified overall portfolio without any material concentration risks. The resulting longer-term on-balance sheet portfolio is also subject to a credit limit and hedging framework. In addition to underwriting risk, we also focus on concentration of transactions with specific risk dynamics (including risk to commercial real estate and risk from securitization positions). Furthermore, in our PCC businesses, we apply product-specific strategies setting our risk appetite for sufficiently homogeneous portfolios, such as the retail portfolios of mortgages and business and consumer finance products. In Wealth Management, target levels are set for global concentrations along products as well as based on type and liquidity of collateral. |
Market Risk Management [Abstract] | |
Market Risk Framework [text block] | Market Risk Management Market Risk f ramework The vast majority of our businesses are subject to market risk, defined as the potential for change in the market value of our trading and invested positions. Risk can arise from changes in interest rates, credit spreads, foreign exchange rates, equity prices, commodity prices and other relevant parameters, such as market volatility and market implied default probabilities. One of the primary objectives of Market Risk Management, a part of our independent Risk function, is to ensure that our business units’ risk exposure is within the approved appetite commensurate with its defined strategy . To achieve this objective, Market Risk Management works closely together with risk takers (“the business units”) and other control and support groups. We distinguish between three substantially different types of market risk: Trading market risk arises primarily through the market-making and client facilitation activities of the Corporate & Investment Bank Corporate Division. This involves taking positions in debt, equity, foreign exchange, other securities and commodities as well as in equivalent derivatives. Traded default risk arising from defaults and rating migrations relating to trading instruments. Nontrading market risk arises from market movements, primarily outside the activities of our trading units, in our banking book and from off-balance sheet items. This includes interest rate risk, credit spread risk, investment risk and foreign exchange risk as well as market risk arising from our pension schemes, guaranteed funds and equity compensation. Nontrading market risk also includes risk from the modeling of client deposits as well as savings and loan products. Market Risk Management governance is designed and established to promote oversight of all market risks, effective decision-making and timely escalation to senior management. Market Risk Management defines and implements a framework to systematically identify, assess, monitor and report our market risk. Market risk managers identify market risks through active portfolio analysis and engagement with the business units. |
Trading Market Risk [text block] | Trading Market Risk Our primary mechanism to manage trading market risk is the application of our r isk a ppetite framework of which the limit framework is a key component . Our Management Board, supported by Market Risk Management, sets group-wide value-at-risk, economic capital and portfolio stress testing limits for market risk in the trading book. Market Risk Management allocates this overall appetite to our Corporate Divisions and individual business units within them based on established and agreed business plans. We also have business aligned heads within Market Risk Management who establish business limits, by allocating the limit down to individual portfolios, geographical regions and types of market risks. Value-at-risk, economic capital and portfolio stress testing limits are used for managing all types of market risk at an overall portfolio level. As an additional and important complementary tool for managing certain portfolios or risk types, Market Risk Management performs risk analysis and business specific stress testing. Limits are also set on sensitivity and concentration/liquidity, exposure, business-level stress testing and event risk scenarios, taking into consideration business plans and the risk vs return assessment. Business units are responsible for adhering to the limits against which exposures are monitored and reported. The market risk limits set by Market Risk Management are monitored on a daily, weekly and monthly basis, dependent on the risk management tool being used. |
Value-at-Risk [text block] | Internally developed Market Risk Models Value-at-Risk (VaR) VaR is a quantitative measure of the potential loss (in value) of Fair Value positions due to market movements that should not be exceeded in a defined period of time and with a defined confidence level. Our value-at-risk for the trading businesses is based on our own internal model. In October 1998, the German Banking Supervisory Authority (now the BaFin) approved our internal model for calculating the regulatory market risk capital for our general and specific market risks. Since then the model has been continually refined and approval has been maintained. We calculate VaR using a 99 % confidence level and a one day holding period. This means we estimate there is a 1 in 100 chance that a mark-to-market loss from our trading positions will be at least as large as the reported VaR. For regulatory purposes, which include the calculation of our risk-weighted assets, the holding period is ten days. We use one year of historical market data as input to calculate VaR. The calculation employs a Monte Carlo Simulation technique, and we assume that changes in risk factors follow a well-defined distribution, e.g. normal or non-normal (t, skew-t, Skew-Normal). To determine our aggregated VaR, we use observed correlations between the risk factors during this one year period. Our VaR model is designed to take into account a comprehensive set of risk factors across all asset classes. Key risk factors are swap/government curves, index and issuer-specific credit curves, funding spreads, single equity and index prices, foreign exchange rates, commodity prices as well as their implied volatilities. To help ensure completeness in the risk coverage, second order risk factors, e.g. CDS index vs. constituent basis, money market basis, implied dividends, option-adjusted spreads and precious metals lease rates are considered in the VaR calculation. For each business unit a separate VaR is calculated for each risk type, e.g. interest rate risk, credit spread risk, equity risk, foreign exchange risk and commodity risk. For each risk type this is achieved by deriving the sensitivities to the relevant risk type and then simulating changes in the associated risk drivers. “Diversification effect” reflects the fact that the total VaR on a given day will be lower than the sum of the VaR relating to the individual risk types. Simply adding the VaR figures of the individual risk types to arrive at an aggregate VaR would imply the assumption that the losses in all risk types occur simultaneously. The model incorporates both linear and, especially for derivatives, nonlinear effects through a combination of sensitivity-based and revaluation approaches. The VaR measure enables us to apply a consistent measure across all of our fair value businesses and products. It allows a comparison of risk in different businesses, and also provides a means of aggregating and netting positions within a portfolio to reflect correlations and offsets between different asset classes. Furthermore, it facilitates comparisons of our market risk both over time and against our daily trading results. When using VaR estimates a number of considerations should be taken into account. These include: The use of historical market data may not be a good indicator of potential future events, particularly those that are extreme in nature. This “backward-looking” limitation can cause VaR to understate future potential losses (as in 2008), but can also cause it to be overstated. Assumptions concerning the distribution of changes in risk factors, and the correlation between different risk factors, may not hold true, particularly during market events that are extreme in nature. The one day holding period does not fully capture the market risk arising during periods of illiquidity, when positions cannot be closed out or hedged within one day. VaR does not indicate the potential loss beyond the 99 th quantile. Intra-day risk is not reflected in the end of day VaR calculation. There may be risks in the trading or banking book that are partially or not captured by the VaR model. |
Stressed Value-at-Risk [text block] | Stressed Value-at-Risk Stressed Value-at-Risk (SVaR) calculates a stressed value-at-risk measure based on a one year period of significant market stress. We calculate a stressed value-at-risk measure using a 99 % confidence level. The holding period is one day for internal purposes and ten days for regulatory purposes. Our SVaR calculation utilizes the same systems, trade information and processes as those used for the calculation of value-at-risk. The only difference is that historical market data and observed correlations from a period of significant financial stress (i.e., characterized by high volatilities) is used as an input for the Monte Carlo Simulation . |
Incremental Risk Charge [text block] | Incremental Risk Charge Incremental Risk Charge captures default and credit rating migration risks for credit-sensitive positions in the trading book. It applies to credit products over a one-year capital horizon at a 99.9 % confidence level, employing a constant position approach. We use a Monte Carlo Simulation for calculating incremental risk charge as the 99.9 % quantile of the portfolio loss distribution and for allocating contributory incremental risk charge to individual positions. |
Comprehensive Risk Measure [text block] | Comprehensive Risk Measure Comprehensive Risk Measure captures incremental risk for the corporate correlation trading portfolio calculated using an internal model subject to qualitative minimum requirements as well as stress testing requirements. The comprehensive risk measure for the correlation trading portfolio is based on our own internal model. We calculate the comprehensive risk measure based on a Monte Carlo Simulation technique to a 99.9 % confidence level and a capital horizon of one year. Our model is applied to the eligible corporate correlation trading positions where typical products include collateralized debt obligations, nth-to-default credit default swaps, and commonly traded index- and single-name credit default swaps used to risk manage these corporate correlation products. |
Nontrading Market Risk [text block] | Nontrading Market Risk Nontrading market risk arises primarily from outside the activities of our trading units, in our banking book and from certain off-balance sheet items. Significant market risk factors the Group is exposed to and are overseen by risk management groups in that area are: Interest rate risk (including risk from embedded optionality and changes in behavioral patterns for certain product types), credit spread risk, foreign exchange risk, equity risk (including investments in public and private equity as well as real estate, infrastructure and fund assets). Market risks from off-balance sheet items, such as pension schemes and guarantees, as well as structural foreign exchange risk and equity compensation risk. |
Nontrading Market Risk Economic Capital [text block] | Nontrading M arket R isk Economic Capital Nontrading market risk economic capital is calculated either by applying the standard traded market risk EC methodology or through the use of non-traded market risk models that are specific to each risk class and which consider, among other factors, historically observed market moves, the liquidity of each asset class, and changes in client’s behavior in relation to products with behavioral optionalities. |
Liquidity Risk Management [Abstract] | |
Liquidity Risk Management Framework [text block] | Liquidity Risk Management Liquidity risk is the risk arising from our potential inability to meet all payment obligations when they come due or only being able to meet these obligations at excessive costs. The objective of the Group’s liquidity risk management framework is to ensure that the Group can fulfill its payment obligations at all times and can manage liquidity and funding risks within its risk appeti te. The framework considers relevant and significant drivers of liquidity risk, whether on-balance sheet or off-balance sheet. Liquidity Risk Management f ramework In accordance with the ECB’s Supervisory Review and Evaluation Process (SREP) , Deutsche Bank has implemented an annual Internal Liquidit y Adequacy Assessment Process (ILAAP ), which is reviewed and approved by the Management Board. The ILAAP provides comprehensive documentation of the Bank’s Liquidity Risk Management framework, including: identifying the key liquidity and funding risks to which the Group is exposed; describing how these risks are identified, monitored and measured and describing the techniques and resources used to manage and mitigate these risks . The Management Board defines the liquidity and funding risk strategy for the B ank, as well as the risk appetite, based on recommendations made by t he Group Risk Committee (GRC ). At least annually the Management Board reviews and approves the risk appetite which is applied to the Group to measure and control liquidity risk as well as our long-term funding and issuance plan . Treasury is mandated to manage the overall liquidity and funding position of the B ank, with Liquidity Risk Management (LRM) acting as an independent control function, responsible for reviewing the liquidity risk framework, proposing the risk appetite to GRC and the validation of Liquidity Risk models which are developed by Treasury, to measure and manage the Group’s liquidity risk profile. Treasury manages liquidity and funding, in accor dance with the Management Board- approved risk appetite across a range of relevant metrics, and implements a number of tools to monitor these and ensure compliance. In addition, Treasury works closely in conjunction with LRM and the business, to analyze and understand the underlying liquidity characteristics of the business portfolios. The se parties are engaged in regular and frequent dialogu e to understand changes in the B ank’s position arising from business activities and market circumstances. Dedicated business targets are allocated to ensure the Group operates within its overall liquidity and funding appetite. The Management Board is infor med of performance against the risk appetite metrics, via a weekly Liquidity Dashboard. As part of the annual strategic planning process, we project the development of the key liquidity and funding metrics based on the underlying business plans to ensure that the plan is in compliance with our risk appetite. |
Short-term liquidity and wholesale funding [text block] | Short-term l iquidity and w holesale f unding Deutsche Bank tracks all contractual cash flows from wholesale funding sources, on a daily basis, over a 12-month horizon. For this purpose, we consider wholesale funding to include unsecured liabilities raised primarily by Treasury Pool Management, as well as secured liabilities raised by our Corporate & Investment Bank Division. Our wholesale funding counterparties typically include corporates, banks and other financial institutions, governments and sovereigns. The Group has implemented a set of Ma nagement Board-approved limits to restrict the Bank’s exposure to wholesale counterparties, which have historically shown to be the most susceptible to market stress. The wholesale funding limits are monitored daily, and apply to the total combined currency amount of all wholesale funding currently outstanding, both secured and unsecured with specific tenor limits covering the first 8 weeks. Our Liquidity Reserves are the primary mitigant against potential stress in the short-term . |
Liquidity stress testing and scenario analysis [text block] | Liquidity s tress t esting and s cenario a nalysis Global liquidity stress testing and scenario analysis is one of the key tools for measuring liquidity risk and evaluating the Group’s short-term liquidity position within the liquidity framework . It complements the daily operational cash management process . The long-term liquidit y strategy based on contractual and behavioral modelled cash flow information is represented by the Funding Matrix. Our g lobal liquidity stress testing process is managed by Treasury in accordance with the Management Board approved risk appetite . Treasury is responsible for the design of the overall methodology, the choice of liquidity risk drivers and the determination of appropriate assumptions (parameters) to translate input data into model results. Liquidity Risk Management is responsible for the definition of the stress scenarios and the independent validation of liquidity risk models. Liquidity and Treasury Reporting & Analysis (LTRA) is responsible for implementing the se methodologies in conjuncti on with Treasury, LRM and IT as well as for the stress test calcu lation. We use stress testing and scenario analysis to evaluate the impact of sudden and severe stress events on our liquidity position. The scenarios we apply are based on systemic historic events, such as the 2008 financial markets crisis as well as idiosyncratic events . Deutsche Bank has selected four scenarios to calculate the Group’s stressed Net Liquidity P osition (“sNLP”). These scenarios capture the historical experience of Deutsche Bank during periods of idiosyncratic and/or market-wide stress and are assumed to be both plausible and sufficiently severe as to materially impact the Group’s liquidity position. A global market crisis, for example, is covered by a specific stress scenario (systemic market risk) that models the potential consequences observed during the financial crisis of 2008 . Additionally, we have introduced regional market stress scenarios. Under each of the scenarios we assume a high degree of maturing loan s to non-wholesale customers is rolled-over, to support our business franchise. Wholesale funding, from the most risk sensitive counterparties (including banks and money-market mutual funds) is assumed to roll-off at contractual maturity or even be bought back , in the acute phase of the stress. In addition, we include the potential funding requirements from contingent liquidity risks which might arise, including credit facilities, increased collateral requirements under derivative agreements, and outflows from deposits with a con tractual rating linked trigger. We then model the actions we would take to counterbalance the outflows incurred. Countermeasu res include utilizing the Liquidity Reserve and gen erating liquidity from unencum b e red, marketable assets. Stress testing is conducted at a global level and for defined individual legal entities. In addition to the consolidated currency stress test, stress tests for material currencies (EUR, USD and GBP) are performed. We review our stress-testing assumptions on a regular basis and have made further enhancements to the methodology and severity of certain parameters through the course of 2018. On a daily basis, w e run the liquidity stress test over an eight-week horizon, which we consider the most critical time span in a liquidity crisis, and apply the relevant stress assumptions to risk drivers from on-balance sheet and off-balance sheet products. Beyond the eight week time horizon, we analyze the impact of a more prolonged stress period, extending to twelve months. This stress tes ting analysis is performed on a daily basis . |
Funding Risk Management [text block] | Funding Risk Management Structural f unding Deutsche Bank’s primary tool for monitoring and managing longer term funding risk is the Funding Matrix. The Funding Matrix assesses the Group’s structural funding profile for the greater than one year time horizon. To produce the Funding Matrix, all funding-relevant assets and liabilities are mapped into time buckets correspondi ng to their contractual or modeled maturities. This allows the Group to identify expected excesses and shortfalls in term liabilities over assets in each time bucket, facilitating the management of potential liquidity exposures. The liquidity profile is based on contractual cash flow information. If the contractual maturity profile of a product does not adequately reflect the liquidity profile, it is replaced by modeling assumptions. Short-term balance sheet items (<1yr) or matched funded structures (asset and liabilities directly matched with no liquidity risk) can be excluded from the term analysis. The bottom-up assessment by individual business line is combined with a top-down reconciliation against the Group’s IFRS balance sheet. From the cumulative term profile of assets and liabilities beyond 1 year, long-funded surpluses or short-funded gaps in the Group’s maturity structure can be identified. The cumulative profile is thereby built up starting from the greater than 10 year bucket down to the greater than 1 year bucket. The strategic liquidity planning process, which incorporates the development of funding supply and demand across business units, together with the bank’s targeted key liquidity and funding metrics, provides the key input parameter for our annual capital markets issuance plan . Upon approval by the Management Board the capital markets i ssuance plan establishes issuance targets for securities by tenor, volume, currency and instrument. We also maintain a stand-alone U.S. dollar and GBP funding matrix which limits the maximum short position in any time bucket (more than 1 year to more than 10 years) to € 10 billion and € 5 billion respectively. This supplements the risk appetite for our global funding matrix which requires us to maintain a positive funding position in any time bucket (more than 1 year to more than 10 years). |
Funding Diversification Management [text block] | Funding Diversification Diversification of our funding profile in terms of investor types, regions, products and instruments is an important element of our liquidity risk management framework. Our most stable funding sources come from capital markets and equity, retail, and transaction banking clients. Other customer deposits and secured funding and short positions are additional sources of funding. Unsecured wholesale funding represents unsecured wholesale liabilities sourced primarily by our Treasury Pool Management . Given the relatively short-term nature of these liabilities, they are primarily used to fund liquid trading assets. To promote the additional diversification of our refinancing activities, we hold a license allowing us to issue mortgage Pfandbriefe. In addition, we have established a program for the purpose of issuing Covered Bonds under Spanish law (Cedulas). Unsecured wholesale funding comprises a range of unsecured products , such as Certificates of Deposit (CDs), Commercial Paper s (CP s ) as well as term, call and overnight deposits across tenors primarily up to one year. To avoid any unwanted reliance on these short-term funding sources, and to promote a sound funding profile, which complies with the defined risk appetite, we have implemented limit s (across tenor s) on these funding sources, which are derived from our daily stress testing analysis. In addition, we limit t he total volume of unsecured wholesale funding to manage the reliance on this funding source as part of the overall funding diversification . The chart “ Liquidity Risk Exposure : Funding Diversification ” shows the composition of our external funding sources that contribute to the liquidity risk position, both in EUR billion and as a percentage of our total external funding sources. |
Liquidity reserves [text block] | Liquidity reserves Liquidity reserves comprise available cash and cash equivalents, highly liquid securities (includes government, agency and government guaranteed) as well as other unencumbered central bank eligible assets. |
Disclosure of Risk Concentration and Risk Diversification [text block] | Risk Concentration and Risk Diversification Risk Concentrations Risk concentrations refer to clusters of the same or similar risk drivers within specific risk types (intra-risk concentrations in credit, market, operational, liquidity and business risks) as well as across different risk types (inter-risk concentrations). They occur within and across counterparties, businesses, regions/countries, industries and products. The management and monitor ing of risk concentrations is achieved through a quantitative and qualitative approach, as follows: Intra-risk concentrations are assessed, monitored and mitigated by the individual risk functions (credit, market, operational, liquidity and strategic risk management). This is supported by limit setting on different levels and/or management according to risk type. Inter-risk concentrations are managed through quantitative top-down stress-testing and qualitative bottom-up reviews, identifying and assessing risk themes independent of any risk type and providing a holistic view across the bank. The most senior governance body for the oversight of ris k concentrations throughout 2018 was the Enterprise Risk Committee (ERC) , which is a subcommittee of the Group Risk Committee (GRC). |
Risk Report - Risk Performance
Risk Report - Risk Performance | 12 Months Ended |
Dec. 31, 2018 | |
Maximum Exposure to Credit Risk | |
Maximum Exposure to Credit Risk paragraph 1 [text block] | Maximum Exposure to Credit Risk The maximum exposure to credit risk table shows the direct exposure before consideration of associated collateral held and other credit enhancements (netting and hedges) that do not qualify for offset in our financial statements for the periods specified. The table also presents exposures which are subject to impairment in accordance with IFRS 9. The netting credit enhancement component includes the effects of legally enforceable netting agreements as well as the offset of negative mark-to-markets from derivatives against pledged cash collateral. The collateral credit enhancement component mainly includes real estate, collateral in the form of cash as well as securities-related collateral. In relation to collateral we apply internally determined haircuts and additionally cap all collateral values at the level of the respective collateralized exposure. Maximum Exposure to Credit Risk Dec 31, 2018 Credit Enhancements in € m. Maximum 1 Subject to Netting Collateral Guarantees 2 Total credit Financial assets at amortized cost 3 Cash and central bank balances 188,736 188,736 − 0 − 0 Interbank balances (w/o central banks) 8,885 8,885 − 4 0 4 Central bank funds sold and securities purchased under resale agreements 8,222 8,222 − 7,734 − 7,734 Securities borrowed 3,396 3,396 − 0 − 0 Loans 404,537 404,537 − 224,353 16,582 240,934 Other assets subject to credit risk 4,5 71,899 65,010 29,073 3,199 79 32,352 Securities held to maturity N/M N/M N/M N/M N/M N/M Total financial assets at amortized cost 3 685,676 678,787 29,073 235,290 16,661 281,024 6 Trading assets 96,966 − − 677 155 831 Positive market values from derivative financial instruments 320,058 − 250,231 48,548 82 298,861 Non-trading financial assets mandatory at fair value through profit or loss 97,771 − 245 67,385 0 67,630 Of which: Securities purchased under resale agreement 44,543 − 245 43,258 0 43,503 Securities borrowed 24,210 − − 24,003 0 24,003 Loans 12,741 − − 125 0 125 Financial assets designated at fair value through profit or loss 104 − − 0 0 0 Financial assets available for sale N/M N/M N/M N/M N/M N/M Total financial assets at fair value through profit or loss 514,899 − 250,476 116,610 237 367,323 51,182 51,182 0 1,488 520 2,008 Of which: Securities purchased under resale agreement 1,097 1,097 − 621 0 621 Securities borrowed 0 0 − 0 0 0 Loans 5,092 5,092 − 450 104 554 Total financial assets at fair value through OCI 51,182 51,182 − 1,488 520 2,008 7 51,605 51,605 − 3,375 5,291 8,666 Revocable and irrevocable lending commitments and other credit related commitments 7 212,049 211,055 − 16,418 4,734 21,152 Total off-balance sheet 263,654 262,659 − 19,793 10,025 29,818 Maximum exposure to credit risk 1,515,410 992,628 279,550 373,181 27,443 680,173 1 Does not include credit derivative notional sold ( € 415,967 million ) and credit derivative notional bought protection. 2 Bought Credit protection is reflected with the notional of the underlying . 3 All amounts at gross value before deductions of allowance for credit losses . 4 All amounts at amortized cost (gross) except for qualifying hedge derivatives, which are reflected at Fair value through P&L . 5 Includes Asset Held for Sale regardless of accounting classification . 6 Excludes equities, other equity interests and commodities. 7 Figures are reflected at notional amounts. Dec 31, 2017 Credit Enhancements in € m.¹ Maximum 2 Netting Collateral Guarantees 3 Total credit Cash and central bank balances 225,655 − 0 − 0 Interbank balances (w/o central banks) 9,265 − 0 7 7 Central bank funds sold and securities purchased under resale agreements 9,971 − 9,914 − 9,914 Securities borrowed 16,732 − 15,755 − 15,755 Financial assets at fair value through profit or loss 4 550,313 286,149 136,650 265 423,065 Trading assets 98,730 − 2,635 146 2,781 Positive market values from derivative financial instruments 361,032 285,421 52,797 119 338,338 Financial assets designated at fair value through 90,551 728 81,218 0 81,946 Of which: Securities purchased under resale agreement 57,843 728 56,566 0 57,294 Securities borrowed 20,254 − 20,034 0 20,034 Financial assets available for sale 4 47,766 − 559 0 559 Loans 5 405,621 − 211,578 20,063 231,641 Securities held to maturity 3,170 − − − − Other assets subject to credit risk 66,900 29,854 1,514 56 31,424 Financial guarantees and other credit related contingent liabilities 6 48,212 − 4,024 6,579 10,604 Irrevocable lending commitments and other credit related commitments 6 158,253 − 7,544 1,759 9,303 Maximum exposure to credit risk 1,541,858 316,003 387,538 28,730 732,271 1 All amounts at carrying value unless otherwise indicated. 2 Does not include credit derivative notional sold ( € 828,804 million ) and credit derivative notional bought protection. 3 Bought credit protection is reflected with the notional of the underlying. 4 Excludes equities, other equity interests and commodities. 5 Gross loans less deferred expense/unearned income before deductions of allowance for loan losses. 6 Figures are reflected at notional amounts. Revocable commitments not included in the year were € 45.1 billion . |
Maximum Exposure to Credit Risk paragraph 2 [text block] | Included in the category of trading assets as of December 31, 2018, were traded bonds of € 85.2 billion ( € 87.3 billion as of December 31, 2017) of which over 79 % were investment-grade (over 82 % as of December 31, 2017). Credit Enhancements are split into three categories: netting, collateral and guarantees / credit derivatives. Haircuts, parameter setting for regular margin calls as well as expert judgments for collateral valuation are employed to prevent market developments from leading to a build-up of uncollateralized exposures. All categories are monitored and reviewed regularly. Overall credit enhancements received are diversified and of adequate quality being largely cash, highly rated government bonds and third-party guarantees mostly from well rated banks and insurance companies. These financial institutions are domiciled mainly in European countries and the United States . Furthermore we have collateral pools of highly liquid assets and mortgages (principally consisting of residential properties mainly in Germany) for the homogeneous retail portfolio. |
Main Credit Exposure [Abstract] | |
Main Credit Exposure Categories by Industry Sectors [text block] | Main Credit Exposure Categories by Industry Sectors Dec 31, 2018 Loans Off-balance sheet OTC derivatives in € m. at amortized 1 trading - Designated / at fair value 2 Revocable and 3 Contingent at fair value 4 Agriculture, forestry and fishing 640 15 0 0 541 40 5 Mining and quarrying 2,995 563 0 141 6,094 1,505 210 Manufacturing 28,342 786 7 1,831 45,296 11,985 1,378 Electricity, gas, steam and air conditioning supply 3,210 284 57 3 4,908 1,563 452 Water supply, sewerage, waste management and remediation activities 867 28 0 0 399 155 181 Construction 3,902 495 0 25 3,638 2,089 338 Wholesale and retail trade, repair of motor vehicles and motorcycles 20,293 488 215 875 14,380 5,058 317 Transport and storage 5,774 647 48 79 5,059 920 1,017 Accommodation and food service activities 2,026 40 0 28 1,761 195 158 Information and communication 4,372 505 29 374 17,277 2,061 793 Financial and insurance activities 77,628 3,530 11,845 882 62,739 22,191 17,415 Real estate activities 33,432 1,538 88 95 5,375 221 1,084 Professional, scientific and technical activities 6,590 239 0 190 4,172 1,708 47 Administrative and support service activities 7,381 338 169 34 4,835 451 628 Public administration and defense, compulsory social security 8,917 1,160 203 472 978 48 2,088 Education 698 1 0 0 76 18 362 Human health services and social work activities 3,483 104 0 31 1,862 124 239 Arts, entertainment and recreation 859 71 0 21 873 38 13 Other service activities 4,720 520 77 10 2,406 708 157 Activities of households as employers, undifferentiated goods- and services-producing activities of households for own use 188,407 85 2 0 29,372 522 347 Activities of extraterritorial organizations and bodies 1 25 0 0 7 6 188 Total 404,537 11,462 12,741 5,092 212,049 51,605 27,417 Dec 31, 2018 Debt Securities Repo and repo-style transactions 7 Total in € m. at amortized cost 5 at fair value at fair value 6 at amortized cost 8 at fair value at fair value 9 Agriculture, forestry and fishing 0 9 0 0 0 0 1,251 Mining and quarrying 119 481 5 0 0 0 12,113 Manufacturing 472 1,245 47 0 0 0 91,389 Electricity, gas, steam and air conditioning supply 374 631 45 0 0 0 11,527 Water supply, sewerage, waste management and remediation activities 5 36 0 0 0 0 1,670 Construction 35 585 59 0 0 0 11,165 Wholesale and retail trade, repair of motor vehicles and motorcycles 87 224 1 0 0 0 41,938 Transport and storage 100 608 55 0 0 0 14,308 Accommodation and food service activities 21 25 0 0 0 0 4,254 Information and communication 168 724 505 0 0 0 26,810 Financial and insurance activities 2,771 18,102 16,219 10,668 66,949 1,097 312,035 Real estate activities 84 1,928 23 6 28 0 43,903 Professional, scientific and technical activities 23 306 0 0 0 0 13,275 Administrative and support service activities 38 160 0 434 131 0 14,599 Public administration and defense, compulsory social security 797 63,468 27,892 510 1,631 0 108,165 Education 0 121 0 0 0 0 1,275 Human health services and social work activities 0 474 63 0 0 0 6,381 Arts, entertainment and recreation 0 398 0 0 0 0 2,273 Other service activities 43 2,691 26 0 13 0 11,371 Activities of households as employers, undifferentiated goods- and services-producing activities of households for own use 0 0 0 0 0 0 218,735 Activities of extraterritorial organizations and bodies 62 448 54 0 0 0 790 Total 5,199 92,664 44,993 11,618 68,752 1,097 949,227 1 Includes stage 3 and stage 3 POCI loans at amortized cost amounting to € 9.1 billion as of December 31, 2018. 2 Includes stage 3 and stage 3 POCI loans at fair value through OCI amounting to € 1 million as of December 31, 2018 3 Includes stage 3 and stage 3 POCI off-balance sheet exposure amounting to € 599 million as of December 31, 2018. 4 Includes the effect of netting agreements and cash collateral received where applicable. Excludes derivatives qualifying for hedge accounting. 5 Includes stage 3 and stage 3 POCI debt securities at amortized cost amounting to € 73 mi llion as of December 31, 2018. 6 Includes stage 3 and stage 3 POCI debt securities at fair value through OCI amounting to € 2 million as of December 31, 2018. 7 Before reflection of collateral and limited to securities purchased under resale agreements and securities borrowed. 8 Includes stage 3 and stage 3 POCI repo and repo-style transactions at amortized cost amounting to € 0 as of December 31, 2018. 9 Includes stage 3 and stage 3 POCI repo and repo-style transactions at fair value through OCI amounting to € 0 as of December 31, 201 8. Dec 31, 2017 Loans Off-balance sheet OTC Debt securities Repo and Total in € m. Loans¹ Traded Irrevocable Contingent OTC Debt Traded Repo and Total Financial intermediation 52,087 1,635 31,839 9,407 17,991 15,590 16,982 100,006 245,536 Fund management activities 18,668 306 6,213 173 1,232 53 737 44 27,426 Manufacturing 27,569 628 38,450 14,893 1,347 294 1,991 0 85,172 Wholesale and retail trade 19,246 388 10,684 5,623 413 50 501 0 36,905 Households 186,687 74 9,975 671 398 0 0 0 197,805 Commercial real estate activities 29,180 2,080 4,343 508 1,185 1 1,468 41 38,806 Public sector 13,510 611 844 138 3,510 30,301 54,989 4,694 108,597 Other 6 58,674 5,154 55,904 16,799 5,353 1,963 10,596 16 154,459 Total 405,621 10,876 158,253 48,212 31,430 48,251 87,264 104,800 894,707 1 Includes impaired loans amounting to € 6.2 billion as of December 31, 2017 . 2 Includes irrevocable lending commitments related to consumer credit exposure of € 10.1 billion as of December 31, 2017 . 3 Includes the effect of netting agreements and cash collateral received where applicable. Excludes derivatives qualifying for hedge accounting. 4 Includes debt securities on financial assets available for sale and securities held to maturity. 5 Before reflection of collateral and limited to securities purchased under resale agreements and securities borrowed. 6 Major industries within Other were: Real estate other than commercial (€ 63.4 billion), Transport; storage and communication (€ 28.2 billion), Other community and personal social services (€ 14.1 billion), Electricity; gas and water supply (€ 12.8 billion), Construction (€ 11.7 billion) and Mining and quarrying (€ 10.0 billion). |
Main Credit Exposure Categories by Geographical Region [text block] | Main credit exposure categories by geographical region Dec 31, 2018 Loans Off-balance sheet OTC derivatives in € m. at amortized cost 1 trading - Designated / at fair value 2 Revocable 3 Contingent at fair value 4 Europe 293,979 3,829 9,905 1,785 111,675 31,174 16,390 Of which: Germany 207,429 497 304 390 61,587 12,193 1,403 United Kingdom 5,553 671 1,331 278 7,304 3,127 5,766 France 2,415 123 212 81 5,025 2,460 826 Luxembourg 7,543 533 6,920 41 6,682 875 933 Italy 21,363 373 99 0 3,417 3,416 1,174 Netherlands 7,968 125 41 384 9,384 1,470 1,984 Spain 16,729 320 57 67 2,507 3,167 931 Ireland 5,792 230 324 166 3,430 153 772 Switzerland 5,960 31 127 208 3,996 2,419 251 Poland 3,135 0 5 0 301 132 53 Belgium 988 2 53 84 1,986 395 264 Other Europe 9,104 924 431 85 6,057 1,366 2,033 North America 65,716 4,383 2,365 2,311 91,672 9,274 8,011 Of which: U.S. 53,195 4,036 2,358 2,209 85,445 8,797 6,196 Cayman Islands 2,562 55 7 0 2,151 17 756 Canada 2,181 48 0 102 2,649 76 828 Other North America 7,778 244 0 0 1,427 384 232 Asia/Pacific 38,176 1,794 471 863 7,052 9,591 2,391 Of which: Japan 1,682 37 0 123 334 236 362 Australia 1,224 177 417 11 2,016 135 358 India 7,355 188 18 3 782 2,061 115 China 4,530 60 0 18 346 1,101 399 Singapore 6,136 238 0 109 1,063 992 192 Hong Kong 4,026 203 0 17 1,023 586 138 Other Asia/Pacific 13,223 893 37 582 1,489 4,480 827 Other geographical areas 6,667 1,456 0 132 1,651 1,566 625 Total 404,537 11,462 12,741 5,092 212,049 51,605 27,417 Dec 31, 2018 Debt Securities Repo and repo-style transactions 7 Total in € m. at amortized cost 5 at fair value at fair value 6 at amortized cost 8 at fair value at fair value 9 Europe 4,467 36,459 24,922 4,394 14,342 316 553,638 Of which: Germany 1,443 6,685 9,597 925 899 2 303,352 United Kingdom 182 14,552 2,499 966 4,379 0 46,608 France 714 3,061 1,559 0 3,681 0 20,157 Luxembourg 167 1,332 3,474 89 1,206 0 29,796 Italy 249 2,707 1,146 578 1,040 0 35,563 Netherlands 592 1,785 1,219 0 179 0 25,130 Spain 168 2,146 504 379 529 0 27,504 Ireland 91 920 215 0 1,277 0 13,370 Switzerland 40 560 119 112 316 0 14,139 Poland 0 130 2,387 0 0 0 6,144 Belgium 139 542 481 0 0 0 4,935 Other Europe 682 2,038 1,724 1,344 836 315 26,938 North America 237 34,356 14,491 1,942 45,548 0 280,306 Of which: U.S. 220 33,112 13,915 1,275 30,428 0 241,186 Cayman Islands 0 631 9 655 14,094 0 20,937 Canada 0 419 556 0 847 0 7,707 Other North America 17 194 10 12 178 0 10,476 Asia/Pacific 495 19,343 5,037 4,567 8,625 226 98,632 Of which: Japan 63 3,142 8 2,752 5,808 0 14,545 Australia 0 3,977 510 19 523 0 9,366 India 267 2,172 1,849 0 79 61 14,948 China 0 2,124 0 0 614 0 9,192 Singapore 114 1,403 671 0 325 0 11,242 Hong Kong 0 520 222 0 11 0 6,746 Other Asia/Pacific 51 6,006 1,777 1,797 1,266 165 32,594 Other geographical areas 0 2,506 543 714 237 555 16,651 Total 5,199 92,664 44,993 11,618 68,752 1,097 949,227 1 Includes stage 3 and stage 3 POCI loans at amortized cost amounting to € 9.1 billion as of December 31, 2018 . 2 Includes stage 3 and stage 3 POCI loans at fair value through OCI amounting to € 1 million as of December 31, 2018 . 3 Includes stage 3 and stage 3 POCI off-balance sheet exposure amounting to € 599 million as of December 31, 2018 . 4 Includes the effect of netting agreements and cash collateral received where applicable. Excludes derivatives qualifying for hedge accounting . 5 Includes stage 3 and stage 3 POCI debt securities at amortized cost amounting to € 73 million as of December 31, 2018 . 6 Includes stage 3 and stage 3 POCI debt securities at fair value through OCI amounting to € 2 million as of December 31, 2018 . 7 Before reflection of collateral and limited to securities purchased under resale agreements and securities borrowed. 8 Includes stage 3 and stage 3 POCI repo and repo-style transactions at amortized cost amounting to € 0 as of December 31, 2018. 9 Includes stage 3 and stage 3 POCI repo and repo-style transactions at fair value through OCI amounting to € 0 as of December 31, 2018. Dec 31, 2017 Loans Off-balance sheet OTC 3 Debt securities Repo and 5 Total in € m. Loans 1 Traded Irrevocable 2 Contingent OTC 3 Debt 4 Traded Repo and 5 Total Europe 299,937 3,149 65,739 27,574 18,353 35,304 33,120 26,648 509,825 Of which: Germany 199,867 146 27,483 10,739 1,661 12,414 4,912 3,421 260,644 United Kingdom 6,895 190 5,748 1,514 5,849 864 9,668 10,123 40,851 France 2,651 242 8,265 1,266 1,231 3,597 3,096 3,442 23,788 Luxembourg 15,983 247 2,858 484 1,102 6,142 1,017 711 28,544 Italy 21,836 497 1,642 3,657 1,750 642 4,167 820 35,012 Netherlands 8,304 493 6,498 1,627 2,292 2,793 2,022 82 24,112 Spain 13,250 227 1,866 3,046 704 946 2,188 987 23,213 Ireland 4,415 272 1,843 481 972 655 1,022 2,673 12,333 Switzerland 6,922 65 2,324 2,488 313 163 644 416 13,336 Poland 7,871 36 807 234 26 1,820 296 0 11,089 Belgium 1,177 12 1,280 405 352 1,574 601 0 5,401 Other Europe 10,765 723 5,124 1,633 2,099 3,696 3,486 3,975 31,500 North America 64,086 5,129 85,358 10,031 10,015 10,986 31,636 56,776 274,017 Of which: U.S. 53,795 4,750 80,776 9,489 8,036 10,623 29,972 44,659 242,101 Cayman Islands 2,312 103 1,951 52 700 17 1,041 9,162 15,336 Canada 838 87 1,564 110 1,092 346 272 1,688 5,996 Other North America 7,141 190 1,068 380 187 0 351 1,267 10,584 Asia/Pacific 34,469 1,735 4,447 8,967 2,254 1,025 20,319 19,909 93,126 Of which: Japan 1,093 66 276 349 366 15 4,760 10,354 17,278 Australia 1,477 310 1,076 128 277 588 3,716 1,453 9,026 India 7,034 86 717 1,645 219 0 3,973 1,517 15,191 China 4,393 2 378 1,195 263 0 836 3,130 10,198 Singapore 4,946 75 419 794 177 0 927 220 7,559 Hong Kong 4,224 551 385 598 144 2 399 45 6,348 Other Asia/Pacific 11,300 644 1,197 4,259 808 419 5,707 3,190 27,526 Other geographical areas 7,130 862 2,708 1,639 808 936 2,190 1,466 17,739 Total 405,621 10,876 158,253 48,212 31,430 48,251 87,264 104,800 894,707 1 Includes impaired loans amounting to € 6.2 billion as of December 31, 2017. 2 Includes irrevocable lending commitments related to consumer credit exposure of € 10.1 billion as of December 31, 2017. 3 Includes the effect of netting agreements and cash collateral received where applicable. Excludes derivatives qualifying for hedge accounting. 4 Includes debt securities on financial assets available for sale and securities held to maturity. 5 Before reflection of collateral and limited to securities purchased under resale agreements and securities borrowed. |
Main Credit Exposure Categories by Geographical Region paragraph [text block] | Our largest concentration of credit risk within loans from a regional perspective is in our home market Germany, with a significant share in households, which includes the majority of our mortgage lending business. Within OTC derivatives, tradable assets as well as repo and repo-style transactions, our largest concentrations from a regional perspective were in Europe and North America . |
Credit Risk Exposure to Certain Eurozone Countries [text block] | Sovereign Credit Risk Exposure to Certain Eurozone Countries The amounts below reflect a net “country of domicile view” of our sovereign exposure. Sovereign credit risk exposure to certain E urozone countries Dec 31, 2018 Dec 31, 2017 in € m. Direct Net Notional of Net sovereign Memo Item: Net Direct Net Notional of Net sovereign Memo Item: Net Greece 53 (18 ) 35 0 55 (17 ) 38 0 Ireland 334 5 339 (0 ) 709 9 717 0 Italy 3,627 (1,089 ) 2,538 58 2,834 (1,818 ) 1,016 49 Portugal (204 ) 82 (122 ) 5 (227 ) 3 (223 ) 0 Spain 1,773 (8 ) 1,766 27 1,669 (115 ) 1,554 35 Total 5,583 (1,028 ) 4,555 90 5,040 (1,938 ) 3,102 84 1 Includes sovereign debt classified as financial assets/liabilities at fair value through profit or loss, available for sale (December 2017) and loans carried at amortized cost. Direct Sovereign exposure is net of guarantees received and collateral . 2 The amou nts reflect the net fair value in relation to credit default swaps referencing sovereign debt of the respective country representing the counterparty . |
Asset Quality IFRS 9 [Abstract] | |
Asset Quality Excluding Forborne and Collateral [text block] | Overview of financial assets subject to impairment The following tables provide an overview of the exposure amount and allowance for credit losses by financial asset class broken down into stages as per IFRS 9 requirements. Overview of f inancial a ssets subject to impairment Dec 31, 2018 Gross Carrying Amount Allowance for Credit Losses 2 in € m. Stage 1 Stage 2 Stage 3 Stage 3 Total Stage 1 Stage 2 Stage 3 Stage 3 Total Amortized Cost 1 637,037 32,335 7,452 1,963 678,787 509 501 3,247 3 4,259 1 Financial Assets at Amortized Cost consist of: Loans at Amortized Cost, Cash and central bank balances, Interbank balances (w/o central banks), Central bank funds sold and securities purchased under resale agreements, Securities borrowed and certain subcategories of Other assets. 2 Allowance for credit losses do not include allowance for country risk amounting to € 6 million as of Dec 31 , 2018 . Dec 31, 2018 Fair Value Allowance for Credit Losses in € m. Stage 1 Stage 2 Stage 3 Stage 3 Total Stage 1 Stage 2 Stage 3 Stage 3 Total Fair Value through OCI 50,932 247 2 1 51,182 11 1 0 (0 ) 13 Dec 31, 2018 Notional Amount Allowance for Credit Losses 1 in € m. Stage 1 Stage 2 Stage 3 Stage 3 Total Stage 1 Stage 2 Stage 3 Stage 3 Total Off-balance sheet 252,039 10,021 599 0 262,659 132 73 84 0 289 1 Allowance for credit losses do not include allowance f or country risk amounting to € 5 million as of Dec 31, 2018. Financial assets at amortized cost The following tables provide an overview of the gross carrying amount and credit loss allowance by financial asset class broken down into stages as per IFRS 9 requirements. Development of exposures and allowance for credit losses in the reporting period Dec 31, 2018 Gross carrying amount in € m. Stage 1 Stage 2 Stage 3 Stage 3 POCI Total Balance, beginning of year 663,707 30,305 7,726 2,019 703,756 Movements in financial assets including new business 29,175 5,743 1,058 (61 ) 35,914 Transfers due to changes in creditworthiness 1,240 (2,344 ) 1,104 N/M 0 Changes due to modifications that did not result in (11 ) (8 ) (208 ) 0 (227 ) Changes in models N/M N/M N/M N/M N/M Financial assets that have been derecognized during the period (65,682 ) (1,766 ) (2,411 ) (4 ) (69,863 ) Recovery of written off amounts 0 0 146 0 146 Foreign exchange and other changes 8,608 405 37 10 9,060 Balance, end of reporting period 637,037 32,335 7,452 1,963 678,787 Financial assets at amortized cost subject to impairment dropped by Fehler! Keine Dokumentvariable verfügbar. or Fehler! Keine Dokumentvariable verfügbar. in 2018 mainly driven by Stage 1: Stage 1 exposures decreased by Fehler! Keine Dokumentvariable verfügbar. or Fehler! Keine Dokumentvariable verfügbar. driven by Cash and central bank balances due to reductions in deposits and short-term borrowings . Stage 2 exposures increased by Fehler! Keine Dokumentvariable verfügbar. or Fehler! Keine Dokumentvariable verfügbar. driven by Loans at amortized cost in CIB. Stage 3 exposures decreased by Fehler! Keine Dokumentvariable verfügbar. or Fehler! Keine Dokumentvariable verfügbar. in 2018 driven by CIB, mainly reflecting de-risking activities in our shipping portfolio. This reduction was partly offset by an increase in PCB driven by the Postbank business, partly as a result of non-recurring effects. Dec 31, 2018 Allowance for Credit Losses 3 in € m. Stage 1 Stage 2 Stage 3 Stage 3 POCI Total Balance, beginning of year 462 494 3,638 3 4,596 Movements in financial assets including new business (132 ) 215 440 (17 ) 507 Transfers due to changes in creditworthiness 199 (137 ) (62 ) N/M 0 Changes due to modifications that did not result in N/M N/M N/M N/M N/M Changes in models 0 0 0 0 0 Financial assets that have been derecognized during the period² (6 ) (17 ) (972 ) 0 (995 ) Recovery of written off amounts 0 0 172 0 172 Foreign exchange and other changes (14 ) (54 ) 30 17 (21 ) Balance, end of reporting period 509 501 3,247 3 4,259 Provision for Credit Losses excluding country risk 1 66 78 379 (17 ) 507 1 Movements in financial assets including new business, transfers due to changes in creditworthiness and changes in models add up to Provision for Credit Losses excluding country risk. 2 This position includes charge offs of allowance for credit losses. 3 Allowance for credit losses does not include allowance for country risk amounting to € 6 million as of Dec. 31, 2018. Allowance for credit losses against financial assets at amortized cost subject to impairment dropped by Fehler! Keine Dokumentvariable verfügbar. or Fehler! Keine Dokumentvariable verfügbar. in 2018 mainly driven by Stage 3: Stage 1 allowances increased by Fehler! Keine Dokumentvariable verfügbar. or Fehler! Keine Dokumentvariable verfügbar. driven by additional provisions in CIB to reflect for a weakening macro-economic outlook as well as a one-off adjustment to the calculation methodology on certain loans on which we hold insurance protection. Stage 2 allowances remained almost stable. Stage 3 allowances decreased by Fehler! Keine Dokumentvariable verfügbar. or Fehler! Keine Dokumentvariable verfügbar. driven by CIB, where charge offs partly related to de-risking activities in our shipping portfolio overcompensated additional provisions. Financial a ssets at a mortized c ost by b usiness d ivision Dec 31, 2018 Gross Carrying Amount Allowance for Credit Losses in € m. Stage 1 Stage 2 Stage 3 Stage 3 Total Stage 1 Stage 2 Stage 3 Stage 3 Total Corporate & Investment Bank 327,094 14,241 2,403 1,692 345,429 184 99 896 3 1,183 Private & Commercial Bank 299,003 17,226 5,047 271 321,547 321 400 2,350 0 3,071 Asset Management 1,998 304 2 0 2,303 0 0 0 0 1 Corporate & Other 8,943 564 1 0 9,508 3 1 1 0 5 Total 637,037 32,335 7,452 1,963 678,787 509 501 3,247 3 4,259 Financial a ssets at a mortized c ost by industry sector Dec 31, 2018 Gross Carrying Amount Allowance for Credit Losses in € m. Stage 1 Stage 2 Stage 3 Stage 3 Total Stage 1 Stage 2 Stage 3 Stage 3 Total Agriculture, forestry and fishing 533 38 60 0 631 1 2 21 0 24 Mining and quarrying 2,970 273 147 0 3,390 8 1 5 0 15 Manufacturing 26,695 1,291 783 66 28,836 25 24 449 1 498 Electricity, gas, steam and air conditioning supply 3,476 286 77 0 3,839 3 16 5 0 24 Water supply, sewerage, waste management and remediation activities 777 10 10 0 796 0 0 7 0 7 Construction 3,108 289 338 88 3,823 4 4 244 1 254 Wholesale and retail trade, repair of motor vehicles and motorcycles 19,119 859 593 0 20,572 19 18 403 (0 ) 440 Transport and storage 4,314 875 539 0 5,728 7 6 201 0 214 Accommodation and food service activities 1,692 166 35 121 2,014 3 2 17 0 23 Information and communication 4,443 286 46 0 4,774 8 13 27 0 48 Financial and insurance activities 318,867 10,526 373 633 330,400 81 33 153 7 274 Real estate activities 33,166 2,801 380 401 36,748 35 17 84 (9 ) 128 Professional, scientific and technical activities 8,169 498 151 190 9,008 7 8 83 0 98 Administrative and support service activities 7,091 189 62 32 7,374 8 3 19 (4 ) 25 Public administration and defense, compulsory social security 12,054 1,089 81 1 13,224 4 7 5 0 16 Education 612 19 8 0 638 1 0 7 0 9 Human health services and social work activities 3,246 209 12 2 3,468 7 5 5 0 18 Arts, entertainment and recreation 818 24 14 0 856 2 0 5 0 7 Other service activities 7,788 486 104 239 8,617 9 4 34 4 51 Activities of households as employers, undifferentiated goods- and services-producing activities of households for own use 177,927 12,121 3,639 191 193,878 276 336 1,473 4 2,088 Activities of extraterritorial organizations and bodies 173 0 1 0 173 0 0 0 0 0 Total 637,037 32,335 7,452 1,963 678,787 509 501 3,247 3 4,259 Financial a ssets at a mortized c ost by region Dec 31, 2018 Gross Carrying Amount Allowance for Credit Losses in € m. Stage 1 Stage 2 Stage 3 Stage 3 Total Stage 1 Stage 2 Stage 3 Stage 3 Total Germany 291,850 12,247 3,088 303 307,488 247 275 1,303 0 1,825 Western Europe 119,622 7,499 3,072 1,543 131,736 122 175 1,604 5 1,907 Eastern Europe 6,309 401 88 0 6,798 5 4 38 0 47 North America 147,300 7,572 554 20 155,446 66 32 48 1 147 Central and South America 4,717 558 155 0 5,430 7 2 22 0 31 Asia/Pacific 55,490 3,353 374 98 59,315 32 9 200 (4 ) 237 Africa 1,996 470 78 0 2,544 7 4 31 0 42 Other 9,753 234 43 0 10,031 22 0 1 0 24 Total 637,037 32,335 7,452 1,963 678,787 509 501 3,247 3 4,259 Financial a ssets at a mortized c ost by rating class Dec 31, 2018 Gross Carrying Amount Allowance for Credit Losses in € m. Stage 1 Stage 2 Stage 3 Stage 3 Total Stage 1 Stage 2 Stage 3 Stage 3 Total iAAA–iAA 235,913 2,315 0 0 238,229 2 0 0 0 3 iA 81,579 3,027 0 0 84,606 6 1 0 0 7 iBBB 138,596 2,508 0 0 141,104 36 8 0 0 43 iBB 137,768 8,318 0 232 146,318 177 61 0 0 238 iB 35,725 10,378 0 11 46,114 239 187 0 0 426 iCCC and below 7,456 5,788 7,452 1,720 22,416 49 243 3,247 3 3,542 Total 637,037 32,335 7,452 1,963 678,787 509 501 3,247 3 4,259 Our existing commitments to lend additional funds to debtors with Stage 3 financial assets at amortized cost amounted to Fehler! Keine Dokumentvariable verfügbar. as of December 31, 2018. Collateral held against financial assets at amortized cost in stage 3 Dec 31, 2018 in € m. Gross Carrying Collateral Guarantees Financial Assets at Amortized Cost (Stage 3) 7,452 2,714 221 In 2018, we did not recognize an allowance for credit losses against Financial assets at amortized cost in Stage 3 of Fehler! Keine Dokumentvariable verfügbar. due to full collateralization of these assets. Modified Assets at Amortized Cost A financial asset is considered modified when its contractual cash flows are renegotiated or otherwise modified. Renegotiation or modification may or may not lead to derecognition of the old and recognition of the new financial instrument. This section covers modified financial assets that have not been derecognized. Under IFRS 9, when the terms of a Financial Asset are renegotiated or modified and the modification does not result in derecognition, a gain or loss is recognized in the income statement as the difference between the original contractual cash flows and the modified cash flows discounted at the original effective interest rate (EIR). For modified financial assets the determination of whether the asset’s credit risk has increased significantly reflects the comparison of: The remaining lifetime probability of default (PD) at the reporting date based on the modified terms; with The remaining lifetime PD estimated based on data at initial recognition and based on the original contractual terms. Modified Assets Amortized Cost Dec 31, 2018 in € m. Stage 1 Stage 2 Stage 3 Stage 3 Total Amortized cost carrying amount prior to modification 11 8 222 0 241 Net modification gain/losses recognized (11 ) (8 ) (208 ) 0 (227 ) In the first year after the implementation of the IFRS 9 requirements, we have observed immaterial amounts of modified assets that have been upgraded to stage 1. We have not observed any subsequent re-deterioration of those assets into s tages 2 and 3. Financial Assets at Fair value through Other Compre hensive Income The fair value of financial a ssets at Fair value through Other Comprehensive Income (FVOCI) subject to impairment was Fehler! Keine Dokumentvariable verfügbar. at December 31 , 2018, compared to Fehler! Keine Dokumentvariable verfügbar. at the beginning of year 2018. Allowance for credit losses against these assets were almost unchanged at very low levels ( Fehler! Keine Dokumentvariable verfügbar. at the beginning of year 2018 and Fehler! Keine Dokumentvariable verfügbar. as of December 31 , 2018, respectively). Due to immateriality no further breakdown will be provided for financial assets at FVOCI. Off-balance sheet lending commitments and guarantee business The following tables provide an overview of the nominal amount and credit loss allowance for our off-balance sheet financial asset class broken down into stages as per IFRS 9 requirements. Development of nominal amount and allowance for credit losses Dec 31, 2018 Nominal Amount in € m. Stage 1 Stage 2 Stage 3 Stage 3 POCI Total Balance, beginning of year 1 243,566 7,114 1,448 0 252,129 Movements including new business 6,765 3,923 (1,191 ) 0 9,496 Transfers due to changes in creditworthiness 752 (1,089 ) 338 N/M 0 Changes in models N/M N/M N/M N/M N/M Foreign exchange and other changes 957 73 4 0 1,035 Balance, end of reporting period 252,039 10,021 599 0 262,659 1 Revocable commitments were included in impairment relevant exposures in Q4 2018. As a consequence, Balance, beginning of year was restated compared to our interim reports 2018 . Dec 31, 2018 Allowance for Credit Losses 2 in € m. Stage 1 Stage 2 Stage 3 Stage 3 POCI Total Balance, beginning of year 117 36 119 0 272 Movements including new business (0 ) 31 (13 ) 0 18 Transfers due to changes in creditworthiness 2 (0 ) (2 ) N/M 0 Changes in models N/M N/M N/M N/M N/M Foreign exchange and other changes 14 6 (20 ) 0 (0 ) Balance, end of reporting period 132 73 84 0 289 Provision for Credit Losses excluding country risk 1 1 31 (15 ) 0 18 1 The above table breaks down the impact on provision for credit losses from movements in financial assets including new business, transfers due to changes in creditworthiness and changes in models. 2 Allowance for credit losses does not include allowance f or country risk amounting to € 5 million as of December 31 , 2018. |
Asset Quality Collateral [text block] | Collateral Obtained We obtain collateral on the balance sheet only in certain cases by either taking possession of collateral held as security or by calling upon other credit enhancements. Collateral obtained is made available for sale in an or derly fashion or through public auctions, with the proceeds used to repay or reduce outstanding indebtedness. Generally we do not occupy obtained properties for our business use. The commercial and residential real es tate collateral obtained in 2018 refers predominantly to our exposures in Spain. Collateral Obtained during the reporting period in € m. 2018 Commercial real estate 7 Residential real estate 1 57 Other 0 Total collateral obtained during the reporting period 64 1 C arrying amount of foreclosed residential real es tate properties amounted to € 62 million as of December 31, 2018 and € 67 million as of December 31, 2017 . The collateral obtained, as shown in the table above, excludes collateral recorded as a result of consolidating securiti zation trusts under IFRS 10. In 2018 as well as in 2017 the Group did not obtain any collateral related to these trusts. |
Asset Quality IAS 39 [Abstract] | |
Past Due Loans [text block] | Past Due Loans Loans are considered to be past due if contractually agreed payments o f principal and/or interest remain unpaid by the borrower , except if those loans are acquired through consolidation . The latter are considered to be past due if payments o f principal and/or interest, which were expected at a certain payment date at the time of the initial consolidation of the loans , are unpaid by the borrower. Non-impaired past due loans at amortized cost by past due status in € m. Dec 31, 2017 Loans less than 30 days past due 2,747 Loans 30 or more but less than 60 days past due 482 Loans 60 or more but less than 90 days past due 250 Loans 90 days or more past due 776 Total 4,255 |
Collateral Against Non-Impaired Past Due Loans [text block] | Aggregated value of collateral – with the fair values of collateral capped at loan outstanding – held against our non-impaired past due loans in € m. Dec 31, 2017 Financial and other collateral 2,364 Guarantees received 148 Total 2,512 |
Impaired Loans [text block] | Impaired l oans Credit Risk Management regularly assesses at each balance sheet date whether there is objective evidence that a loan or group of loans is impaired. A loan or group of loans is impaired and impairment losses are incurred if: t here is objective evidence of impairment as a result of a loss event that occurred after the initial recognition of the asset and up to the balance sheet date ( a “ loss event”). When making our assessment we consider information on such events that is reasonably available up to the date the financial statements are authorized for issuance in li ne with the requirements of IAS 10; the loss event had an impact on the estimated future cash flows of the financial asset or the group of financial assets, and a reliable estimate of the loss amount can be made at each reporting date. Credit Risk Management’s loss assessments are subject to regular review in collaboration with Group Finance. The results of this review are reported to and approved by Group Fi nance and Risk S enior M anagement. For further details with regard to impaired loans please refer to Note 1 “ Significant Accounting Policies and Critical Accounting Estimates” to the consolidated financial statements. Impairment l oss and a llowance for l oan l osses If there is evidence of impairment the impairment loss is generally calculated on the basis of discounted expected cash flows using the original effective interest rate of the loan. If the terms of a loan are renegotiated or otherwise modified because of financial difficulties of the borrower without qualifying for de-recognition of the loan , the impairment loss is measured using the original effective interest rate before modification of terms. We reduce the carrying amount of the impaired loan by the use of an allowance account and recognize the amount of the loss in the consolidated statement of income as a component of the provision for credit losses. We record increases to our allowance for loan losses as an increase of the provision for loan losses in our income statement. Charge-offs reduce our allowance while recoveries, if any, are credited to the allowance account. If we determine that we no longer require allowances which we have previously established, we decrease our allowance and record the amount as a reduction of the provision for loan losses in our income statement. W hen it is considered that there is no realistic prospect of recovery and all collateral has been realized or transferred to us , the loan and any associated allowance for loan losses is charged off ( i.e., the loan and the related allowance for loan losses are removed from the balance sheet). While we assess the impairment for our corporate credit exposures individually, we assess the impairment of our smaller-balance standardized homogeneous loans collectively. Our c ollectively assessed allowance for non-impaired loans reflects allowances to cover for incurred losses that have neither been individually identified nor provided for as part of the impairment assessment of smaller - balance homogeneous loans. For further details regarding our accounting policies regarding impairment loss and allowance for credit losses, please refer to Note 1 “ Significant Accounting Policies and Critical Accounting Estimates”.to the consolidated financial statements. Impaired loans, allowance for loan losses and coverage ratios by business division Dec 31, 2017 in € m. Impaired Loan loss Impaired loan Corporate & Investment Bank 2,517 1,565 62 % Private & Commercial Bank 3,717 2,355 63 % Asset Management 0 0 N/M Corporate & Other 1 1 N/M Total 6,234 3,921 63 % N/M – not meaningful. Impaired loans, allowance for loan losses and coverage ratios by industry Dec 31, 2017 Impaired Loans Loan loss allowance in € m. Individually Collectively Total Individually Collectively Collectively Total Impaired loan Financial intermediation 121 8 129 1 3 40 44 34 % Fund management activities 8 8 16 1 0 3 4 24 % Manufacturing 520 165 685 439 146 51 635 93 % Wholesale and retail trade 333 188 521 211 156 27 394 76 % Households 155 2,233 2,388 153 1,290 83 1,526 64 % Commercial real estate activities 345 30 376 115 11 42 168 45 % Public sector 74 0 74 6 0 12 17 24 % Other¹ 1,792 254 2,046 840 139 153 1,132 55 % Total 3,348 2,886 6,234 1,766 1,745 410 3,921 63 % 1 Thereof: ‘Transportat ion, storage and communication’ - Total Impaired Loans € 808 million / Total Loan loss allowance € 469 million , ‘Real estate; renting and business act ivities’ - € 482 million / € 234 million , ‘Construction’: € 378 million / € 144 million , ‘Mining and quarrying’ - € 169 million / € 116 million . Impaired loans, allowance for loan losses and coverage ratios by region Dec 31, 2017 Impaired Loans Loan loss allowance in € m. Individually Collectively Total Individually Collectively Collectively Total Impaired loan Germany 953 1,312 2,266 600 823 104 1,527 67 % Western Europe 1,471 1,422 2,892 815 822 113 1,749 60 % Eastern Europe 45 123 168 45 92 11 147 88 % North America 497 1 498 67 0 102 170 34 % Central and South America 70 0 70 14 0 21 35 50 % Asia/Pacific 264 28 292 223 8 41 272 93 % Africa 48 0 49 1 0 9 10 20 % Other 0 0 0 0 0 11 11 N/M Total 3,348 2,886 6,234 1,766 1,745 410 3,921 63 % N/M – not meaningful. |
Collateral Against Impaired Loans [text block] | Collateral held against impaired loans, with fair values capped at transactional outstanding in € m. Dec 31, 2017 Financial and other collateral 1 1,757 Guarantees received 309 Total collateral held for impaired loans 2,066 1 Defaulted mortgage loans secured by residential real estate properties , where the loan agreement has been terminated/cancelled are generally subject to formal foreclosure proceedings . |
Financial Assets Available for Sale [text block] | Financial assets available for sale The impairment concept is also applicable for available for sale debt instruments, which are otherwise carried at fair value with changes in fair value reported in other comprehensive income. If an available for sale debt instrument is considered impaired, the cumulative impairment loss reflects the difference between the amortized cost and the current fair value of the instrument. For a detailed discussion of our accounting procedures please refer to Note 1 “Significant Accounting policies and Critical Accounting Estimates ” to the consolidated financial statements. Non-impaired past due and impaired financial assets available for sale, accumulated impairments, coverage ratio and collateral held against impaired financial assets available for sale in € m. Dec 31, 2017 Financial assets non-impaired past due available for sale 1,538 Of which: Less than 30 days past due 176 30 or more but less than 60 days past due 23 60 or more but less than 90 days past due 138 90 days or more past due 1,201 Impaired financial assets available for sale 157 Accumulated impairment for financial assets available for sale 113 Impaired financial assets available for sale coverage ratio in % 71 % Collateral held against impaired financial assets available for sale 17 Of which: Financial and other collateral 17 Guarantees received 0 |
Collateral Obtained During Reporting Period [text block] | Collateral o btained The below table give an overview of the group’s collateral obtained in the reporting period. The commercial and residential rea l estate collateral obtained in 201 7 refers predominantly to our exposures in Spain. Collateral obtained during the reporting periods in € m. 2017 Commercial real estate 9 Residential real estate 1 63 Other 0 Total collateral obtained during the reporting period 72 1 Carrying amount of foreclosed residential real estate properties amounted to € 67 million as of December 31, 2017. The collateral obtained, as shown in the table above, excludes collateral recorded as a result of consolidating securitization trusts under IFRS 10. In 2017, the Group did not obtain any collateral related to these trusts. |
Trading Market Risk Exposures [Abstract] | |
Value-at-Risk Metrics of Trading Units of Deutsche Bank Group [text block] | Trading Market Risk Exposures Value-at-Risk Metrics of Trading Units of Deutsche Bank Group The tables and graph below present the value-at-risk metrics calculated with a 99 % confidence level and a one-day holding period for our trading units. Value-at-Risk of our Trading Units by Risk Type Total Diversification Interest rate Credit spread Equity price Foreign exchange Commodity price in € m. 2018 2017 2018 2017 2018 2017 2018 2017 2018 2017 2018 2017 2018 2017 Average 27.5 29.8 (25.5 ) (28.1 ) 17.6 20.2 16.4 19.7 10.0 8.7 8.3 8.4 0.6 0.8 Maximum 40.9 38.4 (35.0 ) (37.6 ) 32.6 26.0 24.0 25.1 14.5 12.5 13.0 16.5 1.3 3.0 Minimum 19.8 20.1 (20.2 ) (21.4 ) 12.4 13.5 13.0 13.5 6.9 4.4 3.8 4.2 0.2 0.1 Period-end 32.1 29.1 (26.9 ) (22.5 ) 14.1 21.4 22.3 14.4 13.0 10.1 9.2 4.9 0.3 0.7 1 Includes value-at-risk from gold and other precious metal positions. |
Regulatory Measures Stressed Value-at-Risk [text block] | Regulatory Trading Market Risk Measures The table below presents the stressed value-at-risk metrics calculated with a 99 % confidence level and a one-day holding period for our trading units. Average, Maximum and Minimum Stressed Value-at-Risk by Risk Type Total Diversification Interest rate Credit spread Equity price Foreign exchange Commodity price in € m. 2018 2017 2018 2017 2018 2017 2018 2017 2018 2017 2018 2017 2018 2017 Average 84.1 76.7 (81.9 ) (88.4 ) 58.3 69.8 69.3 62.1 16.1 18.8 20.0 12.6 2.4 1.8 Maximum 124.7 125.0 (106.7 ) (115.8 ) 89.9 92.0 79.7 73.2 78.1 66.8 38.2 28.0 7.7 6.1 Minimum 61.2 42.0 (66.1 ) (73.0 ) 35.2 48.3 59.0 54.3 2.4 1.5 7.7 6.9 0.5 0.3 Period-end 96.2 85.6 (75.3 ) (81.0 ) 57.6 67.8 70.1 64.3 21.3 19.9 21.7 12.6 0.7 1.9 1 Includes value-at-risk from gold and other precious metal positions. |
Regulatory Measures Incremental Risk Charge [text block] | For regulatory reporting purposes , the incremental r isk c harge for the respective reporting dates represents the higher of the spot value at the reporting dates, and their preceding 12-week average calculation . Average, Maximum and Minimum Incremental Risk Charge of Trading Units (with a 99.9 % confidence level and one-year capital horizon) 1,2,3, Total Global Credit Core Rates Fixed Income & Emerging Other in € m. 2018 2017 2018 2017 2018 2017 2018 2017 2018 2017 2018 2017 Average 680.6 802.1 335.8 544.6 271.1 107.1 224.8 168.1 (11.9 ) 37.2 (139.2 ) (54.8 ) Maximum 847.6 899.3 403.4 597.4 481.9 172.5 451.9 229.0 17.3 62.9 (111.3 ) (20.4 ) Minimum 550.8 754.8 274.6 503.7 159.1 48.7 72.1 92.4 (29.2 ) (1.4 ) (177.1 ) (90.0 ) Period-end 805.4 789.6 383.6 540.1 388.6 133.2 188.0 142.3 5.8 19.9 (160.5 ) (45.9 ) 1 Amounts show the bands within which the values fluctuated during the 12-weeks preceding December 31, 201 8 and December 31, 201 7 , respectively. 2 Business line break downs have been updated for 2018 reporting to better reflect the current business structure. 3 All liquidity horizons are set to 12 months. |
Regulatory Measures Comprehensive Risk Measure [text block] | For regulatory reporting purposes, the comprehensive risk measure for the respective reporting dates represents the higher of the internal spot value at the reporting dates, their preceding 12-week average calculation, and the floor, where the floor is equal to 8 % of the equivalent capital charge under the standardized approach securitization framework. Average, Maximum and Minimum Comprehensive Risk Measure of Trading Units (with a 99.9 % confidence level and one-year capital horizon) 1,2,3 in € m. 2018 2017 Average 0.0 5.4 Maximum 0.0 6.3 Minimum 0.0 4.5 Period-end 0.0 4.4 1 Regulatory Comprehensive Risk Measure calculated for the 1 2-week period ending December 31 . 2 Period end is based on the internal model spot value. 3 All liquidity horizons are set to 12 months. |
Disclosure of Non-Trading Market Risk Exposure [text block] | Nontrading Market Risk Exposures Economic Capital U sage for Nontrading Market Risk The following table shows the Nontrading Market Risk economic capital usage by risk type: Economic Capital Usage by risk type . Economic capital usage in € m. Dec 31, 2018 Dec 31, 2017 Interest rate risk 1,416 1,743 Credit spread risk 271 722 Equity and Investment risk 1,239 1,431 Foreign exchange risk 1,713 1,509 Pension risk 1,588 1,174 Guaranteed funds risk 68 49 Total nontrading market risk portfolios 6,295 6,628 The economic capital figures do take into account diversification benefits between the different risk types. Economic Capital Usage for Nontrading Market Risk totaled € 6.3 billion as of December 31, 2018 , which is € 0.3 billion below our economi c capital usage at year-end 2017 . Interest rate risk. Economic capital charge for interest rate risk in the banking book, including gap risk, basis risk and option risk, such as the risk of a change in client behaviour embedded in modelled non-maturity deposits or prepayment risk. In total the economic capital usage for December 31, 201 8 was € 1, 416 million, compared to € 1, 743 million for December 31, 2017 . The decrease in economic capital contribution was mainly driven by diversification effects. Credit spread risk. Economic capital charge for portfolios in the banking book subject to material credit spread risk. Economic capital usage was € 271 million as of December 31, 201 8 , versus € 722 million as of December 31, 201 7 . The decrease in economic capital contribution was mainly driven by accounting methodology change s in combination with diversification effects . Equity and Investment risk. Economic c apital charge for equity risk from our non-consolidated investment holdings , such as our strategic investments and alternative assets, and from a structural short position in our own share price arising from our equity compensation plans. The economic capital usage was € 1,239 million as of December 31, 201 8 , compared with € 1,431 million as of December 31, 201 7 , predominately driven by a reduced market value of our equity compensation short position . Pension risk. This risk arises from our defined benefit obligations, including interest rate risk and inflation risk, credit spread risk, equity risk and longevity risk. The economic capital usage was € 1,588 million and € 1,174 million as of Decembe r 31, 2018 and December 31, 2017 respectively. The increase in Pension economic capital is mainly related to methodological improvements and reduced diversification with other risk types . Foreign exchange risk. Fo reign exchange risk predominately arises from our structural position in unhedged capital and retained earnings in non-euro currencies in certain subsidiaries. Our economic capital usage was € 1, 713 million as of December 31, 201 8 versus € 1,509 million as of December 31, 201 7 . The increase in economic capital contribution was mainly driven by changes in deferred tax assets in foreign currency . Guaranteed funds risk. Economic capital usage was € 68 million as of December 31, 201 8 , versus € 49 million as of December 31, 201 7 . The in crease in economic capital contribution was largely was largely driven by diversification effects and market performance . |
Disclosure of liquidity risk Exposure [Abstract] | |
Funding Markets and Capital Issuance [text block] | Liquidity Risk Exposure Funding Markets and Capital Markets Issuance 2018 has been a challenging year for credit markets. The transition from Quantitative Easing to Quantitative Tightening combined with an increased macro uncertainty led to higher volatility and credit spreads. Our 5 year CDS traded within a range of 65 to 224 basis points. The peak was observed in the beginning of December, since then, the spread has declined and as of year-end was trading at 208 basis points. The spreads on our bonds exhibited similar behaviour . For example, our 2.375 % EUR benchmark maturing in January 2023 traded in a range of 51 to 259 basis points, closing at 230 basis points at year end 2018. Our revised 2018 issuance plan of € 20-22 billion, comprising debt issuance with an original maturity in excess of one year, was completed and we concluded 2018 having raised € 19.8 billion in term funding. This funding was broadly spread across the following funding sources: Senior non-preferred plain-vanilla issuance ( € 9.4 billion ), senior preferred plain-vanilla issuance ( € 1.0 billion ), covered bond issuance ( € 2.5 billion ), and other senior preferred structured issuance ( € 6.9 billion ). The ( € 19.8 billion ) total is divided into Euro ( € 8.3 billion ), US dollar ( € 9.7 billion ), British Pound ( € 0.3 billion ) a nd other currencies aggregated ( € 1.5 billion ) . In addition to direct issuance, we use long-term cross currency swaps to manage our non-Euro funding needs. Our investor base for 2018 issuances comprised asset managers and pension funds ( 40 % ), retail customers ( 19 % ), banks ( 8 % ), governments and agencies ( 5 % ), insurance companies ( 3 % ) and other institutional investors ( 18 % ). The geographical distributio n was split between Germany ( 20 % ), rest of Europe ( 35 % ), US ( 25 % ), Asia/Pacific ( 15 % ) and Other ( 5 % ). The average spread of our issuance over 3-months-Euribor (all non-Euro funding spreads are rebased versus 3-months Euribor) was 60 basis points for the full year and lower compared to 71 basis points average spread in 2017. The average tenor was 6.1 years. Our issuance activities were higher in the first half of the year. We issued the following volumes over each quarter: Q1: € 10.8 billion , Q2: € 3.0 billion , Q3: € 3.2 billion and Q4: € 2.8 billion , respectively. |
Funding Diversification Performance [text block] | Funding Diversification In 2018, total external funding decreased by € 72.1 billion from € 1,015.8 billion at December 31, 2017 to € 943.8 billion at December 31, 2018. The overall decrease was primarily driven by a decrease of balances in Secured Funding and Shorts by € 39.8 billion ( 55.2 % ). This is due to managed reductions as a result of our balance sheet optimization initiatives and increased netting. In addition, unsecured wholesale funding decreased by € 16.4 billion ( 22.7 % ) and Transaction Banking deposits by € 8.2 billion ( 11.4 % ), primarily due to lower volumes and matured trades with financial institution and maturing certificates of deposits held by other wholesale customers. This decrease was partly offset by an increase of € 7.1 billion ( 9.8 % ) in our retail business. The decrease of the Capital Markets and Equity volume by € 3.3 billion ( 4.6 % ) relates to total issuance maturities in excess of new issuances. The overall proportion of our most stable funding sources (comprising capital markets and equity, retail, and trans action banking) has increased from 72 % in 2017 to 77.5 % in 2018. Composition of External Funding Sources 1 Other includes fiduciary, self-funding structures (e.g. X-markets), margin / Prime Brokerage cash balances (shown on a net basis) Reconciliation to total balance sheet : Derivatives & settlement balances € 325.0 billion ( € 369.4 billion ), add-back for netting effect for M argin & Prime Brokerage cash balances (shown on a net basis) € 51.1 billion ( € 59.2 billion ), other non-funding liabilities € 28.3 billion ( € 30.3 billion ) for December 31, 201 8 and December 31, 201 7 respectively; figures may not add up due to rounding. |
Global All Currency Daily Stress Testing Results [text block] | Global All Currency Daily Stress Testing Results Dec 31, 2018 Dec 31, 2017 in € bn. Funding Gap Net Liquidity Funding Gap Net Liquidity Systemic market risk 93 209 116 121 284 163 1 notch downgrade (DB specific) 63 193 131 79 252 173 Severe downgrade (DB specific) 222 278 57 287 331 43 Combined 3 231 279 48 318 351 33 1 Funding gap caused by impaired rollover of liabiliti es and other projected outflows. 2 Based on liquidity generation through Liquidity Reserves and other countermeasures. 3 Combined impact of systemic market risk and severe downgrade . |
Significant Accounting Polici_2
Significant Accounting Policies (Policies) | 12 Months Ended |
Dec. 31, 2018 | |
Significant Accounting Policies [Abstract] | |
Principles of Consolidation [text block] | Principles of Consolidation The financial information in the Consolidated Financial Statements includes the parent company, Deutsche Bank AG, together with its consolidated subsidiaries, including certain structured entities presented as a single economic unit. Subsidiaries The Group’s subsidiaries are those entities which it directly or indirectly controls. Control over an entity is evidenced by the Group’s ability to exercise its power in order to affect any variable returns that the Group is exposed to through its involvement with the entity. The Group sponsors the formation of structured entities and interacts with structured entities sponsored by third parties for a variety of reasons, including allowing clients to hold investments in separate legal entities, allowing clients to invest jointly in alternative assets, for asset securitization transactions, and for buying or selling credit protection. When assessing whether to consolidate an entity, the Group evaluates a range of control factors, namely: the purpose and design of the entity the relevant activities and how these are determined whether the Group’s rights result in the ability to direct the relevant activities whether the Group has exposure or rights to variable returns whether the Group has the ability to use its power to affect the amount of its returns Where voting rights are relevant, the Group is deemed to have control where it holds, directly or indirectly, more than half of the voting rights over an entity unless there is evidence that another investor has the practical ability to unilaterally direct the relevant activities. Potential voting rights that are deemed to be substantive are also considered when assessing control. Likewise, the Group also assesses existence of control where it does not control the majority of the voting power but has the practical ability to unilaterally direct the relevant activities. This may arise in circumstances where the size and dispersion of holdings of the shareholders give the Group the power to direct the activities of the investee. Subsidiaries are consolidated from the date on which control is transferred to the Group and are deconsolidated from the date that control ceases. The Group reassesses the consolidation status at least at every quarterly reporting date. Therefore, any changes in the structure leading to a change in one or more of the control factors, require reassessment when they occur. This includes changes in decision making rights, changes in contractual arrangements, changes in the financing, ownership or capital structure as well as changes following a trigger event which was anticipated in the original documentation. All intercompany transactions, balances and unrealized gains on transactions between Group companies are eliminated on consolidation. Consistent accounting policies are applied throughout the Group for the purposes of consolidation. Issuances of a subsidiary’s stock to third parties are treated as noncontrolling interests. Profit or loss attributable to noncontrolling interests are reported separately in the Consolidated Statement of Income and Consolidated Statement of Comprehensive Income. At the date that control of a subsidiary is lost, the Group a) derecognizes the assets (including attributable goodwill) and liabilities of the subsidiary at their carrying amounts, b) derecognizes the carrying amount of any noncontrolling interests in the former subsidiary, c) recognizes the fair value of the consideration received and any distribution of the shares of the subsidiary, d) recognizes any investment retained in the former subsidiary at its fair value and e) recognizes any resulting difference of the above items as a gain or loss in the income statement. Any amounts recognized in prior periods in other comprehensive income in relation to that subsidiary would be reclassified to the Consolidated Statement of Income or transferred directly to retained earnings if required by other IFRSs. Associates An associate is an entity in which the Group has significant influence, but not a controlling interest, over the operating and financial management policy decisions of the entity. Significant influence is generally presumed when the Group holds between 20 % and 50 % of the voting rights. The existence and effect of potential voting rights that are currently exercisable or convertible are considered in assessing whether the Group has significant influence. Among the other factors that are considered in determining whether the Group has significant influence are representation on the board of directors (supervisory board in the case of German stock corporations) and material intercompany transactions. The existence of these factors could require the application of the equity method of accounting for a particular investment even though the Group’s investment is less than 20 % of the voting stock. Investments in associates are accounted for under the equity method of accounting. The Group’s share of the results of associates is adjusted to conform to the accounting policies of the Group and is reported in the Consolidated Statement of Income as Net income (loss) from equity method investments. The Group’s share in the associate’s profits and losses resulting from intercompany sales is eliminated on consolidation. Under the equity method of accounting, the Group’s investments in associates and jointly controlled entities are initially recorded at cost including any directly related transaction costs incurred in acquiring the associate, and subsequently increased (or decreased) to reflect both the Group’s pro-rata share of the post-acquisition net income (or loss) of the associate or jointly controlled entity and other movements included directly in the equity of the associate or jointly controlled entity. Goodwill arising on the acquisition of an associate or a jointly controlled entity is included in the carrying value of the investment (net of any accumulated impairment loss). As goodwill is not reported separately it is not specifically tested for impairment. Rather, the entire equity method investment is tested for impairment at each balance sheet date. If there is objective evidence of impairment, an impairment test is performed by comparing the investment’s recoverable amount, which is the higher of its value in use and fair value less costs to sell, with its carrying amount. An impairment loss recognized in prior periods is only reversed if there has been a change in the estimates used to determine the investment’s recoverable amount since the last impairment loss was recognized. If this is the case the carrying amount of the investment is increased to its higher recoverable amount. The increased carrying amount of the investment in associate attributable to a reversal of an impairment loss shall not exceed the carrying amount that would have been determined had no impairment loss been recognised for the investment in prior years. At the date that the Group ceases to have significant influence over the associate or jointly controlled entity the Group recognizes a gain or loss on the disposal of the equity method investment equal to the difference between the sum of the fair value of any retained investment and the proceeds from disposing of the associate and the carrying amount of the investment. Amounts recognized in prior periods in other comprehensive income in relation to the associate are accounted for on the same basis as would have been required if the investee had directly disposed of the related assets or liabilities. Critical Accounting Estimates: As the assessment of whether there is objective evidence of impairment may require significant management judgment and the estimates for impairment could change from period to period based on future events that may or may not occur, the Group considers this to be a critical accounting estimate. |
Foreign Currency Translation [text block] | Foreign Currency Translation The Consolidated Financial Statements are prepared in euro, which is the presentation currency of the Group. Various entities in the Group use a different functional currency, being the currency of the primary economic environment in which the entity operates. An entity records foreign currency revenues, expenses, gains and losses in its functional currency using the exchange rates prevailing at the dates of recognition. Monetary assets and liabilities denominated in currencies other than the entity’s functional currency are translated at the period end closing rate. Foreign exchange gains and losses resulting from the translation and settlement of these items are recognized in the Consolidated Statement of Income as net gains (losses) on financial assets/liabilities at fair value through profit or loss in order to align the translation amounts with those recognized from foreign currency related transactions (derivatives) which hedge these monetary assets and liabilities. Nonmonetary items that are measured at historical cost are translated using the historical exchange rate at the date of the transaction. Translation differences on nonmonetary items which are held at fair value through profit or loss are recognized in profit or loss. Translation differences on available for sale nonmonetary items (equity securities) are included in other comprehensive income and recognized in the Consolidated Statement of Income when the non-monetary item is sold as part of the overall gain or loss on sale of the item. For purposes of translation into the presentation currency, assets and liabilities of foreign operations are translated at the period end closing rate and items of income and expense are translated into euros at the rates prevailing on the dates of the transactions, or average rates of exchange where these approximate actual rates. The exchange differences arising on the translation of a foreign operation are included in other comprehensive income. For foreign operations that are subsidiaries, the amount of exchange differences attributable to any noncontrolling interests is recognized in noncontrolling interests. Upon disposal of a foreign subsidiary and associate (which results in loss of control or significant influence over that operation) the total cumulative exchange differences recognized in other comprehensive income are reclassified to profit or loss. Upon partial disposal of a foreign operation that is a subsidiary and which does not result in loss of control, the proportionate share of cumulative exchange differences is reclassified from other comprehensive income to noncontrolling interests as this is deemed a transaction with equity holders. For a partial disposal of an associate which does not result in a loss of significant influence, the proportionate share of cumulative exchange differences is reclassified from other comprehensive income to profit or loss. |
Interest, Commissions and Fees [text block] | Interest, Commissions and Fees (IFRS 9 and IFRS 15 - 2018 only) Net Interest Income – Interest income and expense from all interest-bearing assets and liabilities is recognized as net interest income using the effective interest method. The effective interest rate (EIR) is a method of calculating the amortized cost of a financial asset or a financial liability and of allocating the interest income or expense over the relevant period using the estimated future cash flows. The estimated future cash flows used in the EIR calculation include those determined by all of the contractual terms of the asset or liability, all fees (including commissions) that are considered to be integral to the effective interest rate, direct and incremental transaction costs and all other premiums or discounts. However, if the financial instrument is carried at fair value through profit or loss, any associated fees are recognized in trading income when the instrument is initially recognized, provided there are no significant unobservable inputs used in determining its fair value. If a financial asset is credit impaired interest revenue is calculated by applying the effective interest rate to the gross carrying amount. The gross carrying amount of a financial asset is the amortised cost of a financial asset gross of any impairment allowance. For assets which are initially recognised as purchased or credit impaired, interest revenue is calculated through the use of a credit-adjusted effective interest rate which takes into consideration expected credit losses. The Group recognises income from government grants which are associated to interest-bearing assets and liabilities in net interest income when there is reasonable assurance that it will receive the grants and will comply with the conditions attached to the grants. As a result of the amendments to International Accounting Standard 1: “Presentation of Financial Statements” (IAS 1) following the adoption of IFRS 9, the Group presents interest income and expense calculated using the EIR method separately in the income statement. Commissions and Fee Income –The Group applies the IFRS 15, “Revenue from Contracts with Customers” five-step revenue recognition model to the recognition of Commissions and Fee Income, under which income must be recognized when control of goods and services is transferred, hence the contractual performance obligations to the customer has been satisfied. Accordingly, after a contract with a customer has been identified in the first step, the second step is to identify the performance obligation – or a series of distinct performance obligations – provided to the customer. The Group must examine whether the service is capable of being distinct and is actually distinct within the context of the contract. A promised service is distinct if the customer can benefit from the service either on its own or together with other resources that are readily available to the customer, and the promise to transfer the service to the customer is separately identifiable from other promises in the contract. The amount of income is measured on the basis of the contractually agreed transaction price for the performance obligation defined in the contract. If a contract includes variable consideration, the Group estimates the amount of consideration to which it will be entitled in exchange for transferring the promised goods or services to a customer. Income is recognized in profit and loss when the identified performance obligation has been satisfied. The Group provides asset management services that give rise to asset management and performance fees and constitute a single performance obligation. The asset management and performance fee components are variable considerations such that at each reporting date the Group estimates the fee amount to which it will be entitled in exchange for transferring the promised services to the customer. The benefits arising from the asset management services are simultaneously received and consumed by the customer over time. The Group recognizes revenue over time by measuring the progress towards complete satisfaction of that performance obligation, subject to the removal of any uncertainty as to whether it is highly probable that a significant reversal in the cumulative amount of revenue recognized would occur or not. For the management fee component this is the end of the monthly or quarterly service period. For performance fees this date is when any uncertainty related to the performance component has been fully removed. Loan commitment fees related to commitments that are accounted for off balance sheet are recognized in commissions and fee income over the life of the commitment if it is unlikely that the Group will enter into a specific lending arrangement. If it is probable that the Group will enter into a specific lending arrangement, the loan commitment fee is deferred until the origination of a loan and recognized as an adjustment to the loan’s effective interest rate. The following Commissions and Fee Income is predominantly earned from services that are received and consumed by the customer over time: Administration, assets under management, foreign commercial business, loan processing and guarantees sundry other customer services. Commissions and Fee Income predominantly earned from providing services at a point in time or transaction-type services include: other securities, underwriting and advisory fees, brokerage fees, local payments, foreign currency/ exchange business and intermediary fees. Expenses that are directly related and incremental to the generation of Commissions and Fee Income are presented net in Commissions and Fee Income. This includes income and associated expense where the Group contractually owns the performance obligation (i.e. as Principal) in relation to the service that gives rise to the revenue and associated expense. In contrast, it does not include situations where the Group does not contractually own the performance obligation and is acting as agent. The determination of whether the Group is acting as principal or agent is based on the contractual terms of the underlying service arrangement. The gross Commissions and Fee Income and Expense amounts are disclosed in “Note 6 – Commissions and Fee Income”. Interest, Commissions and Fees (IAS 18 - prior periods only) The Group applied the revenue recognition requirements of IAS 18, “Revenue” (IAS 18). Revenue was recognized when the amount of revenue and associated costs could be reliably measured, it is probable that economic benefits associated with the transaction will be realized and the stage of completion of the transaction could be reliably measured. This concept was applied to the key revenue generating activities of the Group as follows. Net Interest Income – Interest from all interest-bearing assets and liabilities was recognized as net interest income using the effective interest method. The effective interest rate is a method of calculating the amortized cost of a financial asset or a financial liability and of allocating the interest income or expense over the relevant period using the estimated future cash flows. The estimated future cash flows used in this calculation include those determined by the contractual terms of the asset or liability, all fees that are considered to be integral to the effective interest rate, direct and incremental transaction costs and all other premiums or discounts. Once an impairment loss was recognized on a loan, held-to-maturity investment or available for sale debt instruments, although the accrual of interest in accordance with the contractual terms of the instrument was discontinued, interest income was recognized based on the rate of interest that was used to discount future cash flows for the purpose of measuring the impairment loss. For a loan and held to maturity investment this would be the original effective interest rate, but a new effective interest rate was established each time an available for sale debt instrument was impaired as impairment was measured to fair value and based on a current market rate. The Group recognised income from government grants which are associated to interest-bearing assets and liabilities in net interest income when there was reasonable assurance that it will receive the grants and will comply with the conditions attached to the grants. Commissions and Fee Income – The recognition of fee revenue (including commissions) was determined by the purpose of the fees and the basis of accounting for any associated financial instruments. If there was an associated financial instrument, fees that are an integral part of the effective interest rate of that financial instrument are included within the effective yield calculation. However, if the financial instrument was carried at fair value through profit or loss, any associated fees are recognized in profit or loss when the instrument was initially recognized, provided there was no significant unobservable inputs used in determining its fair value. Fees earned from services that are provided over a specified service period were recognized over that service period. Fees earned for the completion of a specific service or significant event were recognized when the service was completed or the event occurred. Loan commitment fees related to commitments that are accounted for off balance sheet were recognized in commissions and fee income over the life of the commitment if it is unlikely that the Group will enter into a specific lending arrangement. If it was probable that the Group will enter into a specific lending arrangement, the loan commitment fee was deferred until the origination of a loan and recognized as an adjustment to the loan’s effective interest rate. Performance-linked fees or fee components were recognized when the performance criteria are fulfilled. The following fee income was predominantly earned from services that were provided over a period of time: investment fund management fees, fiduciary fees, custodian fees, portfolio and other management and advisory fees, credit-related fees and commission income. Fees predominantly earned from providing transaction-type services include underwriting fees, corporate finance fees and brokerage fees. Expenses that were directly related and incremental to the generation of fee income were presented net in Commissions and Fee Income. |
Financial Assets [text block] | Financial Assets (IFRS 9 – 2018 only) The Group classifies financial assets in line with the classification and measurement requirements of IFRS 9, “Financial Instruments” (IFRS 9) where financial assets are classified based on both the business model used for managing the financial assets and the contractual cash flow characteristics of the financial asset (known as Solely Payments of Principal and Interest or “SPPI”). There are three business models available: Hold to Collect - Financial assets held with the objective to collect contractual cash flows. They are subsequently measured at amortized cost and are recorded in multiple lines on the Group’s consolidated balance s heet. Hold to Collect and Sell - Financial assets held with the objective of both collecting contractual cash flows and selling financial assets. They are recorded as Financial assets at Fair Value through Other Compr ehensive Income on the Group’s consolidated balance s heet. Other - Financial assets that do not meet the criteria of either “Hold to Collect” or “Hold to Collect and Sell”. They are recorded as Financial Assets at Fair Value through Profit or Loss on the Group’s consolidated balance s heet. The assessment of business model requires judgment based on facts and circumstances at the date of the adoption on January 1, 2018 and upon initial measurement. As part of this assessment, the Group considers quantitative factors (e.g., the expected frequency and volume of sales) and qualitative factors such as how the performance of the business model and the financial assets held within that business model are evaluated and reported to the Group’s key management personnel. In addition to taking into consideration the risks that affect the performance of the business model and the financial assets held within that business model, in particular, the way in which those market and credit risks are managed; and how managers of the business are compensated (e.g., whether the compensation is based on the fair value of the assets managed or on the contractual cash flows collected). This assessment results in an asset being classified in either a Hold to Collect, Hold to Collect and Sell or Other business model. If the Group holds a financial asset either in a Hold to Collect or a Hold to Collect and Sell business model, then an assessment at initial recognition to determine whether the contractual cash flows of the financial asset are Solely Payments of Principal and Interest on the principal amount outstanding at initial recognition is required to determine the classification. Contractual cash flows, that are SPPI on the principal amount outstanding, are consistent with a basic lending arrangement. Interest in a basic lending arrangement is consideration for the time value of money and the credit risk associated with the principal amount outstanding during a particular period of time. It can also include consideration for other basic lending risks (e.g., liquidity risk) and costs (e.g., administrative costs) associated with holding the financial asset for a particular period of time; and a profit margin that is consistent with a basic lending arrangement. Financial Assets at Fair Value through Profit or Loss Financial assets are classified at fair value through profit or loss if they are held in the other business model because they are either held for trading or because they do not meet the criteria for Hold to Collect or Hold to Collect and Sell. In addition, it includes financial assets that meet the criteria for Hold to Collect or Hold to Collect and Sell business model, but the financial asset fails SPPI or where the Group designated the financial assets under the fair value option. Financial assets classified as Financial Assets at fair value through profit or loss are measured at fair value with realized and unrealized gains and losses included in Net gains (losses) on financial assets/liabilities at fair value through profit or loss. Interest on interest earning assets such as trading loans and debt securities and dividends on equity instruments are presented in Interest and Similar Income. Financial assets classified at fair value through profit or loss are recognized or derecognized on trade date. Trade date is the date on which the Group commits to purchase or sell the asset. Trading Assets – Financial assets are classified as held for trading if they have been originated, acquired or incurred principally for the purpose of selling or repurchasing them in the near term, or they form part of a portfolio of identified financial instruments that are managed together and for which there is evidence of a recent actual pattern of short-term profit-taking. Trading assets include debt and equity securities, derivatives held for trading purposes, and trading loans. This also includes loan commitments that are allocated to the Other business model and that are classified as derivatives held for trading. Non-Trading Financial Assets Mandatory at Fair Value through Profit and Loss – The Group assigns any non-trading financial asset that does not fall into the Hold to Collect nor Hold to Collect and Sell business models into the Other business model and classifies them as Non-Trading Financial Assets mandatory at Fair Value through Profit and Loss. This includes predominately reverse repurchase agreements which are managed on a fair value basis. Additionally, any financial asset that falls into the Hold to Collect or Hold to Collect and Sell business models for which the contractual cash flow characteristics are not SPPI is classified by the Group as Non-Trading Financial Assets Mandatory at Fair Value through Profit and Loss. Financial Assets Designated at Fair Value through Profit or Loss – Certain financial assets that would otherwise be measured subsequently at amortised cost or at fair value through other comprehensive income, may be designated at Fair Value through Profit or Loss if the designation eliminates or significantly reduces a measurement or recognition inconsistency. The use of the fair value option under IFRS 9 is limited. The Group allows the fair value option to be designated only for those financial instruments for which a reliable estimate of fair value can be obtained. Financial Assets at Fair Value through Other Comprehensive Income A financial asset shall be classified and measured at Fair Value through Other Comprehensive Income (“FVOCI”), if the financial asset is held in a Hold to Collect and Sell business model and the contractual cash flows are SPPI, unless designated under the fair value option. Under FVOCI, a financial asset is measured at its fair value with any changes being recognized in Other Comprehensive Income (”OCI”) and is assessed for impairment under the IFRS 9 expected credit loss model where provisions are recorded through profit or loss are recognised based on expectations of potential credit losses. The Group’s impairment policy is described further in the section “Impairment of Loans and Provision for Off-Balance Sheet Positions (IFRS 9 – 2018 only)”. The foreign currency translation effect for FVOCI assets is recognized in profit or loss, as is the interest component by using the effective interest method. The amortization of premiums and accretion of discounts are recorded in net interest income. Realized gains and losses are reported in net gains (losses) on financial assets at FVOCI. Generally, the weighted-average cost method is used to determine the cost of FVOCI financial assets. Financial assets classified as FVOCI are recognized or derecognized on trade date. Trade date is the date on which the Group commits to purchase or sell the asset. It is possible to designate non trading equity instruments as FVOCI. However, this category is expected to have limited usage by the Group and has not been used to date. Financial Assets at Amortized Cost A financial asset is classified and subsequently measured at amortized cost if the financial asset is held in a Hold to Collect business model and the contractual cash flows are SPPI. Under this measurement category, the financial asset is measured at fair value at initial recognition. Subsequently the carrying amount is reduced for principal payments, plus or minus the cumulative amortization using the effective interest method. The financial asset is assessed for impairment under the IFRS 9 expected credit loss model where provisions are recognised based on expectations of potential credit losses. The Group’s impairment of financial instruments policy is described further in the section “Impairment of Loans and Provision for Off-Balance Sheet Positions (IFRS 9 – 2018 only)”. Financial assets measured at amortised cost are recognised on a settlement date basis. Financial Assets at Amortized Cost include predominately Loans at amortized costs, Central bank funds sold and securities purchased under resale agreements, Securities borrowed and certain receivables presented in Other Assets. Modification of Financial Assets When the terms of a financial asset are renegotiated or modified and the modification does not result in derecognition, a gain or loss is recognised in the income statement as the difference between the original contractual cash flows and the modified cash flows discounted at the original effective interest rate. The modified financial asset will continue to accrued interest at its original EIR. Noncredit related or commercial renegotiations where an obligor has not experienced a significant increase in credit risk since origination, and has a readily exercisable right to early terminate the financial asset results in derecognition of the original agreement and recognition of a new financial asset based on the newly negotiated commercial terms. For credit related modifications (i.e. those modifications due to significant increase in credit risk since inception) or those where the obligor does not have the readily exercisable right to early terminate, the Group assesses whether the modified terms result in the financial asset being significantly modified and therefore derecognized. This assessment includes a quantitative assessment of the impact of the change in cash flows from the modification of contractual terms and additionally where necessary a qualitative assessment of the impact of the change in the contractual terms. Where these modifications are not concluded to be significant, the financial asset is not derecognized and is accounted for as a modification as described above. If the changes are concluded to be significant, the old instrument is derecognized and a new instrument recognised. Where a modification results in a new financial asset being recognised, the date of the modification is the date of initial recognition of the new financial asset. The Group then recognizes a credit loss allowance based on 12-month expected credit losses at each reporting date. However, if following a modification that results in a derecognition of the original financial asset, there is evidence that the new financial asset is credit-impaired on initial recognition; then the new financial asset should be recognised as an originated credit-impaired financial asset and initially classified in Stage 3 (refer to section “Impairment of Loans and Provision for Off-Balance Sheet Positions (IFRS 9 – 2018 only)” below). Financial Assets (IAS 39 - prior periods only) The Group applied the classification and measurement requirements of IAS 39, “Financial Instruments: Recognition and Measurement” in prior periods. The Group classified its financial assets into the following categories: financial assets at fair value through profit or loss, loans, held-to-maturity and financial assets available for sale (“AFS”). Appropriate classification of financial assets was determined at the time of initial recognition or when reclassified in the Consolidated balance sheet. Financial assets classified at fair value through profit or loss and financial assets classified as AFS were recognized or derecognized on trade date if a regular way period for the instrument exists. Trade date is the date on which the Group commits to purchase or sell the asset or issue or repurchase the financial liability. Financial instruments measured at amortised cost were recognised on a settlement date basis. Financial Assets at Fair Value through Profit or Loss The Group classified certain financial assets either as held for trading or designated at fair value through profit or loss. They were carried at fair value and presented as financial assets at fair value through profit or loss. Related realized and unrealized gains and losses are included in net gains (losses) on financial assets/liabilities at fair value through profit or loss. Interest on interest earning assets such as trading loans and debt securities and dividends on equity instruments were presented in interest and similar income for financial instruments at fair value through profit or loss. Trading Assets – Financial assets were classified as held for trading if they have been originated or acquired principally for the purpose of selling or repurchasing them in the near term, or they formed part of a portfolio of identified financial assets that were managed together and for which there was evidence of a recent actual pattern of short-term profit-taking. Trading assets included debt and equity securities, derivatives held for trading purposes, commodities and trading loans. Financial Assets Designated at Fair Value through Profit or Loss – Certain financial assets that did not meet the definition of trading assets were designated at fair value through profit or loss using the fair value option. To be designated at fair value through profit or loss, financial assets had to meet one of the following criteria: (1) the designation eliminates or significantly reduced a measurement or recognition inconsistency; (2) a group of financial assets or liabilities or both was managed and its performance is evaluated on a fair value basis in accordance with a documented risk management or investment strategy; or (3) the instrument contains one or more embedded derivatives unless: (a) the embedded derivative does not significantly modify the cash flows that otherwise would be required by the contract; or (b) it is clear with little or no analysis that separation is prohibited. In addition, the Group allowed the fair value option to be designated only for those financial instruments for which a reliable estimate of fair value can be obtained. Financial assets which were designated at fair value through profit or loss, under the fair value option, include repurchase and reverse repurchase agreements, certain loans and loan commitments and debt and equity securities. Loans Loans included originated and purchased non-derivative financial assets with fixed or determinable payments that were not quoted in an active market and which were not classified as financial assets at fair value through profit or loss, held-to-maturity or financial assets AFS. An active market exists when quoted prices are readily and regularly available from an exchange, dealer, broker, industry group, pricing service or regulatory agency and those prices represent actual and regularly occurring market transactions on an arm’s length basis. Loans not acquired in a business combination or in an asset purchase were initially recognized at their transaction price representing the fair value, which is the cash amount advanced to the borrower. In addition, the net of direct and incremental transaction costs and fees were included in the initial carrying amount of loans. These loans were subsequently measured at amortized cost using the effective interest method less impairment. Loans which have been acquired as either part of a business combination or as an asset purchase were initially recognized at fair value at the acquisition date. This included loans for which an impairment loss had been established by the acquiree before their initial recognition by the Group. The fair value at the acquisition date incorporated expected cash flows which considered the credit quality of these loans including any incurred losses, which became the new amortized cost base. Interest income was recognized using the effective interest method. Subsequent to the acquisition date the Group assessed whether there was objective evidence of impairment in line with the policies described in the section entitled “Impairment of Loans and Provision for Off-Balance Sheet Positions (IAS 39 Prior Periods)”. If the loans were determined to be impaired then a loan loss allowance was recognized with a corresponding charge to the provision for credit losses line in the Consolidated Statement of Income. Releases of such loan loss allowances established after their initial recognition were included in the provision for credit losses line. Subsequent improvements in the credit quality of such loans for which no loss allowance had been recorded were recognized immediately through an adjustment to the current carrying value and a corresponding gain was recognized in interest income. Held-to-Maturity Investments Held-to-maturity investments were non-derivative financial assets with fixed or determinable payments and a fixed maturity that the Group had the positive intention and ability to hold to maturity and which were not classified as financial assets at fair value through profit or loss, loans or financial assets AFS. Held-to-maturity investments were initially recorded at fair value plus any directly attributable transaction costs and were subsequently measured at amortized cost using the effective interest method. Subsequent to the acquisition date, the Group assessed whether there was objective evidence of impairment in line with the policies described in the section entitled “Impairment of Loans and Provision for Off-Balance Sheet provisions (IAS 39 Prior Periods only)”. If a held-to-maturity investment was considered impaired, then an impairment loss was recognized in the Consolidated Statement of Income. Financial Assets Classified as Available for Sale Financial assets that were classified as AFS are initially recognized at its fair value plus transaction costs that were directly attributable to the acquisition of the financial asset. The amortization of premiums and accretion of discount were recorded in net interest income. Financial assets classified as AFS were carried at fair value with the changes in fair value reported in other comprehensive income, unless the asset was subject to a fair value hedge, in which case changes in fair value resulting from the risk being hedged were recorded in other income. For monetary financial assets classified as AFS (debt instruments), changes in carrying amounts relating to changes in foreign exchange rate were recognized in the Consolidated Statement of Income and other changes in carrying amount were recognized in other comprehensive income as indicated above. For financial assets classified as AFS that were nonmonetary items (equity instruments), the fair value gain or loss was recognized in other comprehensive income, which also includes any related foreign exchange component. Equity investments classified as AFS were assessed for impairment if, objective evidence demonstrates a significant or prolonged decline in the fair value of the investment below cost. In the case of debt securities classified as AFS, impairment was assessed based on the same criteria as for loans. If there was evidence of impairment, any amounts previously recognized in other comprehensive income was recognized in the Consolidated Statement of Income for the period, reported in net gains (losses) on financial assets available for sale. This impairment loss for the period was determined as the difference between the acquisition cost (net of any principal repayments and amortization) and current fair value of the asset less any impairment loss on that investment previously recognized in the Consolidated Statement of Income. When an AFS debt security was impaired, any subsequent decreases in fair value were recognized in the Consolidated Statement of Income as it was considered further impairment. Any subsequent increases were also recognized in the Consolidated Statement of Income until the asset is no longer considered impaired. When the fair value of the AFS debt security recovered to at least amortized cost it was no longer considered impaired and subsequent changes in fair value were reported in other comprehensive income. Reversals of impairment losses on equity investments classified as AFS were not reversed through the Consoli dated Statement of Income; increases in their fair value after impairment were recognized in other comprehensive income. Realized gains and losses were reported in net gains (losses) on financial assets available for sale. Generally, the weighted-average cost method was used to determine the cost of financial assets. Unrealized gains and losses recorded in other comprehensive income were transferred to the Consolidated Statement of Income on disposal of an available for sale asset and reported in net gains (losses) on financial assets available for sale. Critical Accounting Estimates – Because the assessment of objective evidence of impairment required significant management judgment and the estimate of impairment could change from period to period based upon future events that may or may not occur, the Group considered the impairment of Financial Assets classified as Available for Sale to be a critical accounting estimate. For additional information see Note 7 “Net Gains (Losses) on Financial Assets Available for Sale”. |
Loan Commitments [text block] | Loan Commitments Loan commitments remain off-balance sheet, unless classified as derivatives held for trading or designated at fair value through profit or loss under the fair value option (IAS 39 only). The Group does not recognize and measure changes in fair value of these off-balance sheet loan commitments that result from changes in market interest rates or credit spreads. However, as specified in the sections “ Impairment of Loans and Provision for Off-Balance Sheet Positions (IFRS 9 – 2018 only) ” and “ Impairment of Loans and Provision for Off-Balance Sheet Positions (IAS 39 prior periods only) ” below, these off-balance sheet loan commitments are assessed for impairment individually and where appropriate, collectively. |
Financial Liabilities [text block] | Financial Liabilities (IFRS 9 in 2018 and IAS 39 in prior periods) Under both IFRS 9 and IAS 39, financial liabilities are measured at amortized cost using the effective interest method, except for financial liabilities at fair value through profit or loss. Financial Liabilities at Fair Value through Profit or Loss Financial liabilities at fair value through profit or loss include Trading Liabilities, Financial Liabilities Designated at Fair Value through Profit or Loss and Non-Participating Investment Contracts (“Investment Contracts”). Under IFRS 9 and IAS 39 they are carried at fair value with realized and unrealized gains and losses included in net gains (losses) on financial assets and liabilities at fair value through profit or loss. However under IFRS 9, for financial liabilities designated at fair value through profit and loss the fair value movements attributable to the Group’s own credit component for fair value movements is recognized in Other Comprehensive Income rather than in the Statement of Income as under IAS 39. Financial liabilities classified at fair value through profit or loss are recognized or derecognized on trade date. Trade date is the date on which the Group commits to issue or repurchase the financial liability. Interest on interest paying liabilities are presented in interest expense for financial instruments at fair value through profit or loss. Trading Liabilities - Financial liabilities are classified as held for trading if they have been originated or incurred principally for the purpose of repurchasing them in the near term. Trading liabilities consist primarily of derivative liabilities (including certain loan commitments) and short positions. This also includes loan commitments that are allocated to the other business model and that are classified as derivatives held for trading. Financial Liabilities Designated at Fair Value through Profit or Loss - Certain financial liabilities that do not meet the definition of trading liabilities are designated at fair value through profit or loss using the fair value option. To be designated at fair value through profit or loss, financial liabilities must meet one of the following criteria: (1) the designation eliminates or significantly reduces a measurement or recognition inconsistency; (2) a group of financial liabilities is managed and its performance is evaluated on a fair value basis in accordance with a documented risk management or investment strategy; or (3) the instrument contains one or more embedded derivatives unless: (a) the embedded derivative does not significantly modify the cash flows that otherwise would be required by the contract; or (b) it is clear with little or no analysis that separation is prohibited. In addition, the Group allows the fair value option to be designated only for those financial instruments for which a reliable estimate of fair value can be obtained. Financial liabilities which are designated at fair value through profit or loss, under the fair value option, include repurchase agreements, loan commitments and structured note liabilities. Investment Contracts - All of the Group’s investment contracts are unit-linked and do not contain significant insurance risk or discretionary participation features. The contract liabilities are determined using current unit prices multiplied by the number of units attributed to the contract holders as of the balance sheet date. As this amount represents fair value, the liabilities have been classified as financial liabilities at fair value through profit or loss. Deposits collected under investment contracts are accounted for as an adjustment to the investment contract liabilities. Investment income attributable to investment contracts is included in the consolidated statement of Income. Investment contract claims reflect the excess of amounts paid over the account balance released. Investment contract policyholders are charged fees for policy administration, investment management, surrenders or other contract services. Embedded Derivatives Some hybrid financial liability contracts contain both a derivative and a non-derivative component. In such cases, the derivative component is termed an embedded derivative, with the non-derivative component representing the host financial liability contract. If the economic characteristics and risks of embedded derivatives are not closely related to those of the host financial liability contract and the hybrid financial liability contract itself is not carried at fair value through profit or loss, the embedded derivative is bifurcated and reported at fair value, with gains and losses recognized in net gains (losses) on financial assets/liabilities at fair value through profit or loss. The host financial liability contract will continue to be accounted for in accordance with the appropriate accounting standard. The carrying amount of an embedded derivative is reported in the same Consolidated balance sheet line item as the host financial liability contract. Certain hybrid financial liability instruments have been designated at fair value through profit or loss using the fair value option. Financial Liabilities at Amortized Cost Financial liabilities measured at amortized cost include long-term and short-term debt issued which are initially measured at fair value, which is the consideration received, net of transaction costs incurred. Repurchases of issued debt in the market are treated as extinguishments and any related gain or loss is recorded in the Consolidated Statement of Income. A subsequent sale of own bonds in the market is treated as a reissuance of debt. Financial liabilities measured at amortised cost are recognised on a settlement date basis. |
Offsetting of Financial Instruments [text block] | Offsetting of Financial Instruments Financial assets and liabilities are offset, with the net amount presented in the Consolidated balance sheet, only if the Group holds a currently enforceable legal right to set off the recognized amounts and there is an intention to settle on a net basis or to realize an asset and settle the liability simultaneously. The legal right to set off the recognized amounts must be enforceable in both the normal course of business and in the event of default, insolvency or bankruptcy of both the Group and its counterparty. In all other situations they are presented gross. When financial assets and financial liabilities are offset in the Consolidated balance sheet, the associated income and expense items will also be offset in the Consolidated Statement of Income, unless specifically prohibited by an applicable accounting standard. The majority of the offsetting applied by the Group relates to derivatives and repurchase and reverse repurchase agreements. A significant portion of offsetting is applied to interest rate derivatives and related cash margin balances, which are cleared through central clearing parties such as the London Clearing House. For further information please refer to Note 19 “Offsetting Financial Assets and Financial Liabilities”. |
Determination of Fair Value [text block] | Determination of Fair Value Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an arm’s length transaction between market participants at the measurement date. The fair value of instruments that are quoted in active markets is determined using the quoted prices where they represent those at which regularly and recently occurring transactions take place. The Group measures certain portfolios of financial assets and financial liabilities on the basis of their net risk exposures when the following criteria are met: The group of financial assets and liabilities is managed on the basis of its net exposure to a particular market risk (or risks) or to the credit risk of a particular counterparty, in accordance with a documented risk management strategy, The fair values are provided to key management personnel, and The financial assets and liabilities are measured at fair value through profit or loss. This portfolio valuation approach is consistent with how the Group manages its net exposures to market and counterparty credit risks. Critical Accounting Estimates – The Group uses valuation techniques to establish the fair value of instruments where prices quoted in active markets are not available. Therefore, where possible, parameter inputs to the valuation techniques are based on observable data derived from prices of relevant instruments traded in an active market. These valuation techniques involve some level of management estimation and judgment, the degree of which will depend on the price transparency for the instrument or market and the instrument’s complexity. In reaching estimates of fair value management judgment needs to be exercised. The areas requiring significant management judgment are identified, documented and reported to senior management as part of the valuation control process and the standard monthly reporting cycle. The specialist model validation and valuation control groups focus attention on the areas of subjectivity and judgment. The level of management judgment required in establishing fair value of financial instruments for which there is a quoted price in an active market is usually minimal. Similarly there is little subjectivity or judgment required for instruments valued using valuation models which are standard across the industry and where all parameter inputs are quoted in active markets. The level of subjectivity and degree of management judgment required is more significant for those instruments valued using specialized and sophisticated models and where some or all of the parameter inputs are less liquid or less observable. Management judgment is required in the selection and application of appropriate parameters, assumptions and modelling techniques. In particular, where data are obtained from infrequent market transactions then extrapolation and interpolation techniques must be applied. Where no market data are available for a particular instrument then pricing inputs are determined by assessing other relevant sources of information such as historical data, fundamental analysis of the economics of the transaction and proxy information from similar transactions, and making appropriate adjustment to reflect the actual instrument being valued and current market conditions. Where different valuation techniques indicate a range of possible fair values for an instrument then management has to decide what point within the range of estimates appropriately represents the fair value. Further, some valuation adjustments may require the exercise of management judgment to achieve fair value. Financial assets and liabilities carried at fair value are required to be disclosed according to the inputs to the valuation method that are used to determine their fair value. Specifically, segmentation is required between those valued using quoted market prices in an active market (level 1), valuation techniques based on observable parameters (level 2) and valuation techniques using significant unobservable parameters (level 3). Management judgment is required in determining the category to which certain instruments should be allocated. This specifically arises when the valuation is determined by a number of parameters, some of which are observable and others are not. Further, the classification of an instrument can change over time to reflect changes in market liquidity and therefore price transparency. The Group provides a sensitivity analysis of the impact upon the level 3 financial instruments of using a reasonably possible alternative for the unobservable parameter. The determination of reasonably possible alternatives requires significant management judgment. For financial instruments measured at amortized cost (which includes loans, deposits and short and long term debt issued) the Group discloses the fair value. Generally there is limited or no trading activity in these instruments and therefore the fair value determination requires significant management judgment. For further discussion of the valuation methods and controls and quantitative disclosures with respect to the determination of fair value, please refer to Note 13 “Financial Instruments carried at Fair Value” and Note 14 “Fair Value of Financial Instruments not carried at Fair Value”. |
Recognition of Trade Date Profit [text block] | Recognition of Trade Date Profit If there are significant unobservable inputs used in the valuation technique, the financial instrument is recognized at the transaction price and any profit implied from the valuation technique at trade date is deferred. Using systematic methods, the deferred amount is recognized over the period between trade date and the date when the market is expected to become observable, or over the life of the trade (whichever is shorter). Such methodology is used because it reflects the changing economic and risk profile of the instrument as the market develops or as the instrument itself progresses to maturity. Any remaining trade date deferred profit is recognized in the Consolidated Statement of Income when the transaction becomes observable or the Group enters into offsetting transactions that substantially eliminate the instrument’s risk. In the rare circumstances that a trade date loss arises, it would be recognized at inception of the transaction to the extent that it is probable that a loss has been incurred and a reliable estimate of the loss amount can be made. Critical Accounting Estimates – Management judgment is required in determining whether there exist significant unobservable inputs in the valuation technique. Once deferred, the decision to subsequently recognize the trade date profit requires a careful assessment of the then current facts and circumstances supporting observability of parameters and/or risk mitigation. |
Derivatives and Hedge Accounting [text block] | Derivatives and Hedge Accounting Derivatives are used to manage exposures to interest rate, foreign currency, credit and other market price risks, including exposures arising from forecast transactions. All freestanding contracts that are considered derivatives for accounting purposes are carried at fair value on the Consolidated balance sheet regardless of whether they are held for trading or non-trading purposes. The changes in fair value on derivatives held for trading are included in net gains (losses) on financial assets/liabilities at fair value through profit or loss. Hedge Accounting IFRS 9 includes an accounting policy choice to defer the adoption of IFRS 9 hedge accounting and to continue with IAS 39 hedge accounting. The Group decided to exercise this accounting policy choice and did not adopt IFRS 9 hedge accounting as of January 1, 2018. For accounting purposes there are three possible types of hedges: (1) hedges of changes in the fair value of assets, liabilities or unrecognized firm commitments (fair value hedges); (2) hedges of the variability of future cash flows from highly probable forecast transactions and floating rate assets and liabilities (cash flow hedges); and (3) hedges of the translation adjustments resulting from translating the functional currency financial statements of foreign operations into the presentation currency of the parent (hedges of net investments in foreign operations). When hedge accounting is applied, the Group designates and documents the relationship between the hedging instrument and the hedged item as well as its risk management objective and strategy for undertaking the hedging transactions and the nature of the risk being hedged. This documentation includes a description of how the Group will assess the hedging instrument’s effectiveness in offsetting the exposure to changes in the hedged item’s fair value or cash flows attributable to the hedged risk. Hedge effectiveness is assessed at inception and throughout the term of each hedging relationship. Hedge effectiveness is always assessed, even when the terms of the derivative and hedged item are matched. Hedging derivatives are reported as other assets and other liabilities. In the event that a derivative is subsequently de-designated from a hedging relationship, it is transferred to financial assets/liabilities at fair value through profit or loss. For hedges of changes in fair value, the changes in the fair value of the hedged asset, liability or unrecognized firm commitment, or a portion thereof, attributable to the risk being hedged, are recognized in the Consolidated Statement of Income along with changes in the entire fair value of the derivative. When hedging interest rate risk, any interest accrued or paid on both the derivative and the hedged item is reported in interest income or expense and the unrealized gains and losses from the hedge accounting fair value adjustments are reported in other revenue. When the foreign exchange risk of an AFS equity security was hedged in prior accounting periods, the fair value adjustments related to the security’s foreign exchange exposures were also recorded in other revenue. Hedge ineffectiveness is reported in other revenue and is measured as the net effect of changes in the fair value of the hedging instrument and changes in the fair value of the hedged item arising from changes in the market rate or price related to the risk(s) being hedged. If a fair value hedge of a debt instrument is discontinued prior to the instrument’s maturity because the derivative is terminated or the relationship is de-designated, any remaining interest rate-related fair value adjustments made to the carrying amount of the debt instrument (basis adjustments) are amortized to interest income or expense over the remaining term of the original hedging relationship. For other types of fair value adjustments and whenever a fair value hedged asset or liability is sold or otherwise derecognized, any basis adjustments are included in the calculation of the gain or loss on derecognition. For hedges of variability in future cash flows, there is no change to the accounting for the hedged item and the derivative is carried at fair value, with changes in value reported initially in other comprehensive income to the extent the hedge is effective. These amounts initially recorded in other comprehensive income are subsequently reclassified into the Consolidated Statement of Income in the same periods during which the forecast transaction affects the Consolidated Statement of Income. Thus, for hedges of interest rate risk, the amounts are amortized into interest income or expense at the same time as the interest is accrued on the hedged transaction. Hedge ineffectiveness is recorded in other income and is measured as changes in the excess (if any) in the absolute cumulative change in fair value of the actual hedging derivative over the absolute cumulative change in the fair value of the hypothetically perfect hedge. When hedges of variability in cash flows attributable to interest rate risk are discontinued, amounts remaining in accumulated other comprehensive income are amortized to interest income or expense over the remaining life of the original hedge relationship, unless the hedged transaction is no longer expected to occur in which case the amount will be reclassified into other income immediately. When hedges of variability in cash flows attributable to other risks are discontinued, the related amounts in accumulated other comprehensive income are reclassified into either the same Consolidated Statement of Income caption and period as profit or loss from the forecast transaction, or into other income when the forecast transaction is no longer expected to occur. For hedges of the translation adjustments resulting from translating the functional currency financial statements of foreign operations (hedges of net investments in foreign operations) into the functional currency of the parent, the portion of the change in fair value of the derivative due to changes in the spot foreign exchange rates is recorded as a foreign currency translation adjustment in other comprehensive income to the extent the hedge is effective; the remainder is recorded as other income in the Consolidated Statement of Income. Changes in fair value of the hedging instrument relating to the effective portion of the hedge are subsequently recognized in profit or loss on disposal of the foreign operations. |
Impairment of loans and provision for off-balance sheet Positions [text block] | Impairment of Loans and Provision for Off-Balance Sheet Positions (IFRS 9 – 2018 only) The impairment requirements of IFRS 9 apply to all credit exposures that are measured at amortized cost or FVOCI, and to off balance sheet lending commitments such as loan commitments and financial guarantees. For purposes of the impairment policy below, these instruments are referred to as (“Financial Assets”) The determination of impairment losses and allowance moves from an incurred credit loss model whereby credit losses are recognized when a defined loss event occurs under IAS 39, to an expected credit loss model under IFRS 9, where allowances are taken upon initial recognition of the Financial Asset, based on expectations of potential credit losses at the time of initial recognition. Staged Approach to the Determination of Expected Credit Losses IFRS 9 introduces a three stage approach to impairment for Financial Assets that are not credit impaired at the date of origination or purchase. This approach is summarized as follows: Stage 1: The Group recognizes a credit loss allowance at an amount equal to 12-month expected credit losses. This represents the portion of lifetime expected credit losses from default events that are expected within 12 months of the reporting date, assuming that credit risk has not increased significantly after initial recognition. Stage 2: The Group recognizes a credit loss allowance at an amount equal to lifetime expected credit losses for those Financial Assets which are considered to have experienced a significant increase in credit risk since initial recognition. This requires the computation of ECL based on lifetime probability of default, lifetime loss given default and lifetime exposure at default that represents the probability of default occurring over the remaining lifetime of the Financial Asset. Allowance for credit losses are higher in this stage because of an increase in credit risk and the impact of a longer time horizon being considered compared to 12 months in Stage 1. Stage 3: The Group recognizes a loss allowance at an amount equal to lifetime expected credit losses, reflecting a Probability of Default of 100 %, via the expected recoverable cash flows for the asset, for those Financial Assets that are credit-impaired. The Group’s definition of default is aligned with the regulatory definition. Financial Assets that are credit-impaired upon initial recognition are categorised within Stage 3 with a carrying value already reflecting the lifetime expected credit losses. The accounting treatment for these purchased or originated credit-impaired (“POCI”) assets is discussed further below. Significant Increase in Credit Risk Under IFRS 9, when determining whether the credit risk (i.e., risk of default) of a Financial Asset has increased significantly since initial recognition, the Group considers reasonable and supportable information that is relevant and available without undue cost or effort. This includes quantitative and qualitative information based on the Group’s historical experience, credit risk assessment and forward-looking information (including macro-economic factors). The assessment of significant credit deterioration is key in determining when to move from measuring an allowance based on 12-month ECLs to one that is based on lifetime ECLs (i.e., transfer from Stage 1 to Stage 2). The Group’s framework for determining if there has been a significant increase in credit risk aligns with the internal Credit Risk Management (“CRM”) process and covers rating related and process related indicators which are discussed further in section “IFRS 9 Impairment Approach” in the Risk Report. Credit impaired Financial Assets in Stage 3 The Group has aligned its definition of creditimpaired under IFRS 9 to when a Financial Asset has defaulted for regulatory purposes, according to the Capital Requirements Regulation under Art. 178. The determination of whether a Financial Asset is credit impaired and therefore in Stage 3 focusses exclusively on default risk, without taking into consideration the effects of credit risk mitigants such as collateral or guarantees. Specifically, a Financial Asset is credit impaired and in Stage 3 when: The Group considers the obligor is unlikely to pay its credit obligations to the Group. Determination may include forbearance actions, where a concession has been granted to the borrower or economic or legal reasons that are qualitative indicators of credit impairment; or Contractual payments of either principal or interest by the obligor are past due by more than 90 days. For Financial Assets considered to be credit impaired, the ECL allowance covers the amount of loss the Group is expected to suffer. The estimation of ECLs is done on a case-by-case basis for non-homogeneous portfolios, or by applying portfolio based parameters to individual Financial Assets in these portfolios via the Group’s ECL model for homogeneous portfolios. This estimate includes the use of discounted cash flows that are adjusted for scenarios. Forecasts of future economic conditions when calculating ECLs are considered. The lifetime expected losses are estimated based on the probability-weighted present value of the difference between the contractual cash flows that are due to the Group under the contract; and the cash flows that the Group expects to receive. A Financial Asset can be classified as credit impaired in Stage 3 but without an allowance for credit losses (i.e., no impairment loss is expected). This may be due to the value of collateral. The Group’s engine based ECL calculation is conducted on a monthly basis, whereas the case-by-case assessment of ECL in Stage 3 for non-homogeneous portfolio has to be performed at least on a quarterly basis. Purchased or Originated Credit Impaired Financial Assets in Stage 3 A Financial Asset is considered purchased or originated credit-impaired if there is objective evidence of impairment at the time of initial recognition. Such credit impaired Financial Assets are termed POCI Financial Assets. POCI Financial Assets are measured to reflect lifetime expected credit losses, and all subsequent changes in lifetime expected credit losses, whether positive or negative, are recognised in the income statement as a component of the provision for credit losses. POCI Financial Assets can only be classified in Stage 3 over the life of the Financial Asset. Write-Offs The Group reduces the gross carrying amount of a Financial Asset when there is no reasonable expectation of recovery. Write-offs can relate to a Financial Asset in its entirety, or to a portion of it, and constitute a derecognition event. The Group considers all relevant information in making this determination, including but not limited to: Foreclosure actions taken by the Group which have not been successful or have a high probability of not being successful Collateral liquidation which has not, or will not lead to further considerable recoveries Situations where no further recoveries are reasonably expected Write-offs can take place before legal actions against the borrower to recover the debt have been concluded, and a write-off does not involve the Group forfeiting its legal right to recover the debt. Collateral for Financial Assets Considered in the Impairment Analysis IFRS 9 requires cash flows expected from collateral and other credit enhancement to be reflected in the ECL calculation. The following are key aspects with respect to collateral and guarantees: Eligibility of collateral, i.e. which collateral should be considered in the ECL calculation; Collateral evaluation, i.e. what collateral (liquidation) value should be used; and Projection of the available collateral amount over the life of a transaction. These concepts are outlined in more detail in section “IFRS 9 Impairment Approach” in the Risk Report. Critical Accounting Estimates – The accounting estimates and judgments related to the impairment of Financial Assets is a critical accounting estimate because the underlying assumptions used can change from period to period and may significantly affect the Group’s results of operations. In assessing assets for impairments, management judgment is required, particularly in projecting future economic information and scenarios in particular where circumstances of economic and financial uncertainty, when developments and changes to expected cash flows can occur both with greater rapidity and less predictability. The actual amount of the future cash flows and their timing may differ from the estimates used by management and consequently may cause actual losses to differ from reported allowances. For those non-homogeneous loans in Stage 3 the determination of the impairment allowance often requires the use of considerable judgment concerning such matters as local economic conditions, the financial performance of the counterparty and the value of any collateral held, for which there may not be a readily accessible market. The determination of the expected credit losses in Stages 1 and 2 and for homogeneous loans in Stage 3 is calculated using statistical expected loss models. The model incorporates numerous estimates and judgments. The Group performs a regular review of the model and underlying data and assumptions. The probability of defaults, loss recovery rates and judgments concerning ability of borrowers in foreign countries to transfer the foreign currency necessary to comply with debt repayments, amongst other things, are incorporated into this review. The quantitative disclosures are provided in Note 20 “Loans” and Note 21 “Allowance for Credit Losses”. Impairment of Loans and Provision for Off-Balance Sheet Positions (IAS 39 - prior periods only) The Group applied the impairment requirements of IAS 39 “Financial Instruments: Recognition and Measurement” and IAS 37, “Provisions, Contingent Liabilities and Contingent Assets” in prior periods. The Group first assessed whether objective evidence of impairment existed individually for loans that were individually significant. It then assessed collectively for loans that were not individually significant and loans which were significant but for which there was no objective evidence of impairment under the individual assessment. To allow management to determine whether a loss event has occurred on an individual basis, all significant counterparty relationships were reviewed periodically. This evaluation considered information and events related to the counterparty, such as the counterparty experiencing significant financial difficulty or a breach of contract, for example, default or delinquency in interest or principal payments. If there was evidence of impairment leading to an impairment loss for an individual counterparty relationship, then the amount of the loss was determined as the difference between the carrying amount of the loan(s), including accrued interest, and the present value of expected future cash flows discounted at the loan’s original effective interest rate or the effective interest rate established upon reclassification to loans, including cash flows that may result from foreclosure less costs for obtaining and selling the collateral. The carrying amount of the loans was reduced by the use of an allowance account and the amount of the loss was recognized in the Consolidated Statement of Income as a component of the provision for credit losses. The collective assessment of impairment was to establish an allowance amount relating to loans that were either individually significant but for which there was no objective evidence of impairment, or were not individually significant but for which there was, on a portfolio basis, a loss amount that was probable of having occurred and was reasonably estimable. The loss amount had three components. The first component was an amount for transfer and currency convertibility risks for loan exposures in countries where there were serious doubts about the ability of counterparties to comply with the repayment terms due to the economic or political situation prevailing in the respective country of domicile. This amount was calculated using ratings for country risk and transfer risk which were established and regularly reviewed for each country in which the Group does business. The second component was an allowance amount representing the incurred losses on the portfolio of smaller-balance homogeneous loans, which were loans to individuals and small business customers of the private and retail business. The loans were grouped according to similar credit risk characteristics and the allowance for each group was determined using statistical models based on historical experience. The third component represented an estimate of incurred losses inherent in the group of loans that had not yet been individually identified or measured as part of the smaller-balance homogeneous loans. Loans that were found not to be impaired when evaluated on an individual basis were included in the scope of this component of the allowance. Once a loan was identified as impaired, although the accrual of interest in accordance with the contractual terms of the loan was discontinued, the accretion of the net present value of the written down amount of the loan due to the passage of time was recognized as interest income based on the original effective interest rate of the loan. At each balance sheet date, all impaired loans were reviewed for changes to the present value of expected future cash flows discounted at the loan’s original effective interest rate. Any change to the previously recognized impairment loss was recognized as a change to the allowance account and recorded in the Consolidated Statement of Income as a component of the provision for credit losses. When it was considered that there was no realistic prospect of recovery and all collateral had been realized or transferred to the Group, the loan and any associated allowance was charged off (the loan and the related allowance were removed from the balance sheet). Individually significant loans where specific loan loss provisions were in place were evaluated at least quarterly on a case-by-case basis. For this category of loans, the number of days past due was an indicator for a charge-off but was not a determining factor. A charge-off would only take place after considering all relevant information, such as the occurrence of a significant change in the borrower’s financial position such that the borrower could no longer pay the obligation, or the proceeds from the collateral were insufficient to completely satisfy the current carrying amount of the loan. For collectively assessed loans, which were primarily mortgages and consumer finance loans, the timing of a charge-off depended on whether there was any underlying collateral and the Group’s estimate of the amount collectible and the legal requirements in the jurisdiction in which the loan was originated. Subsequent recoveries, if any, were credited to the allowance account and were recorded in the Consolidated Statement of Income as a component of the provision for credit losses. The process to determine the provision for off-balance sheet positions is similar to the methodology used for loans. Any loss amounts were recognized as an allowance in the Consolidated balance sheet within provisions and charged to the Consolidated Statement of Income as a component of the provision for credit losses. If in a subsequent period the amount of a previously recognized impairment loss decreased and the decrease was due to an event occurring after the impairment was recognized, the impairment loss was reversed by reducing the allowance account accordingly. Such reversal was recognized in profit or loss. Critical Accounting Estimates –The accounting estimates and judgments related to the impairment of loans and provision for off-balance sheet positions was a critical accounting estimate because the underlying assumptions used for both the individually and collectively assessed impairment can change from period to period and may significantly affect the Group’s results of operations. The quantitative disclosures are provided in Note 20 “Loans” and Note 21 “Allowance for Credit Losses”. |
Derecognition of Financial Assets and Liabilities [text block] | Derecognition of Financial Assets and Liabilities Financial Asset Derecognition A financial asset is considered for derecognition when the contractual rights to the cash flows from the financial asset expire, or the Group has either transferred the contractual right to receive the cash flows from that asset, or has assumed an obligation to pay those cash flows to one or more recipients, subject to certain criteria. The Group derecognizes a transferred financial asset if it transfers substantially all the risks and rewards of ownership. The Group enters into transactions in which it transfers previously recognized financial assets but retains substantially all the associated risks and rewards of those assets; for example, a sale to a third party in which the Group enters into a concurrent total return swap with the same counterparty. These types of transactions are accounted for as secured financing transactions. In transactions in which substantially all the risks and rewards of ownership of a financial asset are neither retained nor transferred, the Group derecognizes the transferred asset if control over that asset is not retained, i.e., if the transferee has the practical ability to sell the transferred asset. The rights and obligations retained in the transfer are recognized separately as assets and liabilities, as appropriate. If control over the asset is retained, the Group continues to recognize the asset to the extent of its continuing involvement, which is determined by the extent to which it remains exposed to changes in the value of the transferred asset. The derecognition criteria are also applied to the transfer of part of an asset, rather than the asset as a whole, or to a group of similar financial assets in their entirety, when applicable. If transferring a part of an asset, such part must be a specifically identified cash flow, a fully proportionate share of the asset, or a fully proportionate share of a specifically-identified cash flow. If an existing financial asset is replaced by another asset from the same counterparty on substantially different terms, or if the terms of the financial asset are substantially modified (due to forbearance measures or otherwise), the existing financial asset is derecognized and a new asset is recognized. Any difference between the respective carrying amounts is recognized in the Consolidated Statement of Income. Securitization The Group securitizes various consumer and commercial financial assets, which is achieved via the transfer of these assets to a structured entity, which issues securities to investors to finance the acquisition of the assets. Financial assets awaiting securitization are classified and measured as appropriate under the policies in the “Financial Assets and Liabilities” section. If the structured entity is not consolidated then the transferred assets may qualify for derecognition in full or in part, under the policy on derecognition of financial assets. Synthetic securitization structures typically involve derivative financial instruments for which the policies in the “Derivatives and Hedge Accounting” section would apply. Those transfers that do not qualify for derecognition may be reported as secured financing or result in the recognition of continuing involvement liabilities. The investors and the securitization vehicles generally have no recourse to the Group’s other assets in cases where the issuers of the financial assets fail to perform under the original terms of those assets. Interests in the securitized financial assets may be retained in the form of senior or subordinated tranches, interest only strips or other residual interests (collectively referred to as “retained interests”). Provided the Group’s retained interests do not result in consolidation of a structured entity, nor in continued recognition of the transferred assets, these interests are typically recorded in financial assets at fair value through profit or loss and carried at fair value. Consistent with the valuation of similar financial instruments, the fair value of retained tranches or the financial assets is initially and subsequently determined using market price quotations where available or internal pricing models that utilize variables such as yield curves, prepayment speeds, default rates, loss severity, interest rate volatilities and spreads. The assumptions used for pricing are based on observable transactions in similar securities and are verified by external pricing sources, where available. Where observable transactions in similar securities and other external pricing sources are not available, management judgment must be used to determine fair value. The Group may also periodically hold interests in securitized financial assets and record them at amortized cost. In situations where the Group has a present obligation (either legal or constructive) to provide financial support to an unconsolidated securitization entity a provision will be created if the obligation can be reliably measured and it is probable that there will be an outflow of economic resources required to settle it. When an asset is derecognized a gain or loss equal to the difference between the consideration received and the carrying amount of the transferred asset is recorded. When a part of an asset is derecognized, gains or losses on securitization depend in part on the carrying amount of the transferred financial assets, allocated between the financial assets derecognized and the retained interests based on their relative fair values at the date of the transfer. Derecognition of Financial Liabilities A financial liability is derecognized when the obligation under the liability is discharged or cancelled or expires. If an existing financial liability is replaced by another from the same lender on substantially different terms, or the terms of the existing liability are substantially modified, such an exchange or modification is treated as a derecognition of the original liability and the recognition of a new liability, and the difference in the respective carrying amounts is recognized in the Consolidated Statement of Income. Repurchase and Reverse Repurchase Agreements Securities purchased under resale agreements (“reverse repurchase agreements”) and securities sold under agreements to repurchase (“repurchase agreements”) are treated as collateralized financings and are recognized initially at fair value, being the amount of cash disbursed and received, respectively. The party disbursing the cash takes possession of the securities serving as collateral for the financing and having a market value equal to, or in excess of, the principal amount loaned. The securities received under reverse repurchase agreements and securities delivered under repurchase agreements are not recognized on, or derecognized from, the balance sheet, because the risks and rewards of ownership are not obtained nor relinquished. Securities delivered under repurchase agreements which are not derecognized from the balance sheet and where the counterparty has the right by contract or custom to sell or repledge the collateral are disclosed in Note 22 “Transfer of Financial Assets, Assets Pledged and Received as Collateral”. Under IFRS 9 the Group allocates reverse repurchase portfolios that are managed on a fair value basis to the other business model and classifies them as “Non-trading financial assets mandatory at fair value through profit or loss”. Under IAS 39 the Group choose to apply the fair value option to certain repurchase and reverse repurchase portfolios that were managed on a fair value basis. Interest earned on reverse repurchase agreements and interest incurred on repurchase agreements is reported as interest income and interest expense, respectively. Securities Borrowed and Securities Loaned Securities borrowed transactions generally require the Group to deposit cash with the securities lender. In a securities loaned transaction, the Group generally receives either cash collateral, in an amount equal to or in excess of the market value of securities loaned, or securities. The Group monitors the fair value of securities borrowed and securities loaned and additional collateral is disbursed or obtained, if necessary. The securities borrowed are not themselves recognized in the financial statements. If they are sold to third parties, the obligation to return the securities is recorded as a financial liability at fair value through profit or loss and any subsequent gain or loss is included in the Consolidated Statement of Income in net gains (losses) on financial assets/liabilities at fair value through profit or loss. Securities lent to counterparties are also retained on the Consolidated balance sheet. Under IFRS 9 and IAS 39 the Group records the amount of cash advanced or received as securities borrowed and securities loaned, respectively, in the Consolidated balance sheet. Fees received or paid are reported in interest income and interest expense, respectively. Securities lent to counterparties which are not derecognized from the Consolidated balance sheet and where the counterparty has the right by contract or custom to sell or repledge the collateral are disclosed are disclosed in Note 22 “Transfer of Financial Assets, Assets Pledged and Received as Collateral”. |
Goodwill and Other Intangible Assets [text block] | Goodwill and Other Intangible Assets Goodwill arises on the acquisition of subsidiaries and associates and represents the excess of the aggregate of the cost of an acquisition and any noncontrolling interests in the acquiree over the fair value of the identifiable net assets acquired at the date of the acquisition. For the purpose of calculating goodwill, fair values of acquired assets, liabilities and contingent liabilities are determined by reference to market values or by discounting expected future cash flows to present value. This discounting is either performed using market rates or by using risk-free rates and risk-adjusted expected future cash flows. Any noncontrolling interests in the acquiree is measured either at fair value or at the noncontrolling interests’ proportionate share of the acquiree’s identifiable net assets (this is determined for each business combination). Goodwill on the acquisition of subsidiaries is capitalized and reviewed for impairment annually or more frequently if there are indications that impairment may have occurred. For the purposes of impairment testing, goodwill acquired in a business combination is allocated to cash-generating units (“CGUs”), which are the smallest identifiable groups of assets that generate cash inflows largely independent of the cash inflows from other assets or groups of assets and that are expected to benefit from the synergies of the combination and considering the business level at which goodwill is monitored for internal management purposes. In identifying whether cash inflows from an asset (or a group of assets) are largely independent of the cash inflows from other assets (or groups of assets) various factors are considered, including how management monitors the entity’s operations or makes decisions about continuing or disposing of the entity’s assets and operations. If goodwill has been allocated to a CGU and an operation within that unit is disposed of, the attributable goodwill is included in the carrying amount of the operation when determining the gain or loss on its disposal. Certain non-integrated investments are not allocated to a CGU. Impairment testing is performed individually for each of these assets. Corporate assets are allocated to a CGU when the allocation can be done on a reasonable and consistent basis. If this is not possible, the individual CGU is tested without the corporate assets. They are then tested on the level of the minimum collection of CGUs to which they can be allocated on a reasonable and consistent basis. Intangible assets are recognized separately from goodwill when they are separable or arise from contractual or other legal rights and their fair value can be measured reliably. Intangible assets that have a finite useful life are stated at cost less any accumulated amortization and accumulated impairment losses. Customer-related intangible assets that have a finite useful life are amortized over periods of between 1 and 20 years on a straight-line basis based on their expected useful life. These assets are tested for impairment and their useful lives reaffirmed at least annually. Certain intangible assets have an indefinite useful life and hence are not amortized, but are tested for impairment at least annually or more frequently if events or changes in circumstances indicate that impairment may have occurred. Costs related to software developed or obtained for internal use are capitalized if it is probable that future economic benefits will flow to the Group and the cost can be measured reliably. Capitalized costs are amortized using the straight-line method over the asset’s useful life which is deemed to be either three, five or ten years. Eligible costs include external direct costs for materials and services, as well as payroll and payroll-related costs for employees directly associated with an internal-use software project. Overhead costs, as well as costs incurred during the research phase or after software is ready for use, are expensed as incurred. Capitalized software costs are tested for impairment either annually if still under development or any time when there is an indication of impairment once the software is in use. Critical Accounting Estimates – The determination of the recoverable amount in the impairment assessment of non-financial assets requires estimates based on quoted market prices, prices of comparable businesses, present value or other valuation techniques, or a combination thereof, necessitating management to make subjective judgments and assumptions. Because these estimates and assumptions could result in significant differences to the amounts reported if underlying circumstances were to change, the Group considers these estimates to be critical. The quantitative disclosures are provided in Note 25 “Goodwill and Other Intangible Assets”. |
Provisions [text block] | Provisions Provisions are recognized if the Group has a present legal or constructive obligation as a result of past events, if it is probable that an outflow of resources will be required to settle the obligation, and a reliable estimate can be made of the amount of the obligation. The amount recognized as a provision is the best estimate of the consideration required to settle the present obligation as of the balance sheet date, taking into account the risks and uncertainties surrounding the obligation. If the effect of the time value of money is material, provisions are discounted and measured at the present value of the expenditure expected to be required to settle the obligation, using a pre-tax rate that reflects the current market assessments of the time value of money and the risks specific to the obligation. The increase in the provision due to the passage of time is recognized as interest expense. When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party (for example, because the obligation is covered by an insurance policy), an asset is recognized if it is virtually certain that reimbursement will be received. Critical Accounting Estimates – The use of estimates is important in determining provisions for potential losses that may arise from litigation, regulatory proceedings and uncertain income tax positions. The Group estimates and provides for potential losses that may arise out of litigation, regulatory proceedings and uncertain income tax positions to the extent that such losses are probable and can be estimated, in accordance with IAS 37, “Provisions, Contingent Liabilities and Contingent Assets” or IAS 12, “Income Taxes”, respectively. Significant judgment is required in making these estimates and the Group’s final liabilities may ultimately be materially different. Contingencies in respect of legal matters are subject to many uncertainties and the outcome of individual matters is not predictable with assurance. Significant judgment is required in assessing probability and making estimates in respect of contingencies, and the Group’s final liability may ultimately be materially different. The Group’s total liability in respect of litigation, arbitration and regulatory proceedings is determined on a case-by-case basis and represents an estimate of probable losses after considering, among other factors, the progress of each case, the Group’s experience and the experience of others in similar cases, and the opinions and views of legal counsel. Predicting the outcome of the Group’s litigation matters is inherently difficult, particularly in cases in which claimants seek substantial or indeterminate damages. See Note 29 “Provisions” for information on the Group’s judicial, regulatory and arbitration proceedings. |
Income Taxes [text block] | Income Taxes The Group recognizes the current and deferred tax consequences of transactions that have been included in the consolidated financial statements using the provisions of the respective jurisdictions’ tax laws. Current and deferred taxes are recognized in profit or loss except to the extent that the tax relates to items that are recognized directly in equity or other comprehensive income in which case the related tax is recognized either directly in equity or other comprehensive income accordingly. Deferred tax assets and liabilities are recognized for future tax consequences attributable to temporary differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases, unused tax losses and unused tax credits. Deferred tax assets are recognized only to the extent that it is probable that sufficient taxable profit will be available against which those unused tax losses, unused tax credits and deductible temporary differences can be utilized. Deferred tax assets and liabilities are measured based on the tax rates that are expected to apply in the period that the asset is realized or the liability is settled, based on tax rates and tax laws that have been enacted or substantively enacted at the balance sheet date. Current tax assets and liabilities are offset when (1) they arise from the same tax reporting entity or tax group of reporting entities, (2) the legally enforceable right to offset exists and (3) they are intended to be settled net or realized simultaneously. Deferred tax assets and liabilities are offset when the legally enforceable right to offset current tax assets and liabilities exists and the deferred tax assets and liabilities relate to income taxes levied by the same taxing authority on either the same tax reporting entity or tax group of reporting entities. Deferred tax liabilities are provided on taxable temporary differences arising from investments in subsidiaries, branches and associates and interests in joint ventures except when the timing of the reversal of the temporary difference is controlled by the Group and it is probable that the difference will not reverse in the foreseeable future. Deferred income tax assets are provided on deductible temporary differences arising from such investments only to the extent that it is probable that the differences will reverse in the foreseeable future and sufficient taxable income will be available against which those temporary differences can be utilized. Deferred tax related to fair value remeasurement of financial assets classified as AFS under IAS 39 and as FVTOCI under IFRS 9, cash flow hedges and other items, which are charged or credited directly to other comprehensive income, is also credited or charged directly to other comprehensive income and subsequently recognized in the Consolidated Statement of Income once the underlying transaction or event to which the deferred tax relates is recognized in the Consolidated Statement of Income. For share-based payment transactions, the Group may receive a tax deduction related to the compensation paid in shares. The amount deductible for tax purposes may differ from the cumulative compensation expense recorded. At any reporting date, the Group must estimate the expected future tax deduction based on the current share price. The associated current and deferred tax consequences are recognized as income or expense in the consolidated statement of Income for the period. If the amount deductible, or expected to be deductible, for tax purposes exceeds the cumulative compensation expense, the excess tax benefit is recognized directly in equity. Critical Accounting Estimates – In determining the amount of deferred tax assets, the Group uses historical tax capacity and profitability information and, if relevant, forecasted operating results based upon approved business plans, including a review of the eligible carry-forward periods, available tax planning opportunities and other relevant considerations. Each quarter, the Group re-evaluates its estimate related to deferred tax assets, including its assumptions about future profitability. The Group believes that the accounting estimate related to the deferred tax assets is a critical accounting estimate because the underlying assumptions can change from period to period and requires significant management judgment. For example, tax law changes or variances in future projected operating performance could result in a change of the deferred tax asset. If the Group was not able to realize all or part of its net deferred tax assets in the future, an adjustment to its deferred tax assets would be charged to income tax expense or directly to equity in the period such determination was made. If the Group was to recognize previously unrecognized deferred tax assets in the future, an adjustment to its deferred tax asset would be credited to income tax expense or directly to equity in the period such determination was made. For further information on the Group’s deferred taxes (including quantitative disclosures on recognized deferred tax assets) see Note 36 “Income Taxes”. |
Business Combinations and Noncontrolling Interests [text block] | Business Combinations and Noncontrolling Interests The Group uses the acquisition method to account for business combinations. At the date the Group obtains control of the subsidiary, the cost of an acquisition is measured at the fair value of the consideration given, including any cash or non-cash consideration (equity instruments) transferred, any contingent consideration, any previously held equity interest in the acquiree and liabilities incurred or assumed. The excess of the aggregate of the cost of an acquisition and any noncontrolling interests in the acquiree over the Group’s share of the fair value of the identifiable net assets acquired is recorded as goodwill. If the aggregate of the acquisition cost and any noncontrolling interests is below the fair value of the identifiable net assets (negative goodwill), a gain is reported in other income. Acquisition-related costs are recognized as expenses in the period in which they are incurred. In business combinations achieved in stages (“step acquisitions”), a previously held equity interest in the acquiree is remeasured to its acquisition-date fair value and the resulting gain or loss, if any, is recognized in profit or loss. Amounts recognized in prior periods in other comprehensive income associated with the previously held investment would be recognized on the same basis as would be required if the Group had directly disposed of the previously held equity interest. Noncontrolling interests are shown in the consolidated balance sheet as a separate component of equity, which is distinct from the Group’s shareholders’ equity. The net income attributable to noncontrolling interests is separately disclosed on the face of the Consolidated Statement of Income. Changes in the ownership interest in subsidiaries which do not result in a change of control are treated as transactions between equity holders and are reported in additional paid-in capital (“APIC”). |
Non-Current Assets Held for Sale [text block] | Non-Current Assets Held for Sale Individual non-current non-financial assets (and disposal groups) are classified as held for sale if they are available for immediate sale in their present condition subject only to the customary sales terms of such assets (and disposal groups) and their sale is considered highly probable. For a sale to be highly probable, management must be committed to a sales plan and actively looking for a buyer. Furthermore, the assets (and disposal groups) must be actively marketed at a reasonable sales price in relation to their current fair value and the sale should be expected to be completed within one year. Non-current non-financial assets (and disposal groups) which meet the criteria for held for sale classification are measured at the lower of their carrying amount and fair value less costs to sell and are presented within “Other assets” and “Other liabilities” in the balance sheet. The comparatives are not represented when non-current assets (and disposal groups) are classified as held for sale. If the disposal group contains financial instruments, no adjustment to their carrying amounts is permitted. |
Property and Equipment [text block] | Property and Equipment Property and equipment includes own-use properties, leasehold improvements, furniture and equipment and software (operating systems only). Own-use properties are carried at cost less accumulated depreciation and accumulated impairment losses. Depreciation is generally recognized using the straight-line method over the estimated useful lives of the assets. The range of estimated useful lives is 25 to 50 years for property and 3 to 10 years for furniture and equipment (including initial improvements to purchased buildings). Leasehold improvements are capitalized and subsequently depreciated on a straight-line basis over the shorter of the term of the lease and the estimated useful life of the improvement, which generally ranges from 3 to 18 years. Depreciation of property and equipment is included in general and administrative expenses. Maintenance and repairs are also charged to general and administrative expenses. Gains and losses on disposals are included in other income. Property and equipment are assessed for any indication of impairment at each quarterly reporting date. If such indication exists, the recoverable amount, which is the higher of fair value less costs to sell and value in use, must be estimated and an impairment charge is recorded to the extent the recoverable amount is less than its carrying amount. Value in use is the present value of the future cash flows expected to be derived from the asset. After the recognition of impairment of an asset, the depreciation charge is adjusted in future periods to reflect the asset’s revised carrying amount. If an impairment is later reversed, the depreciation charge is adjusted prospectively. Properties leased under a finance lease are capitalized as assets in property and equipment and depreciated over the terms of the leases. |
Financial Guarantees [text block] | Financial Guarantees Financial guarantee contracts are contracts that require the issuer to make specified payments to reimburse the holder for a loss it incurs because a specified debtor fails to make payments when due in accordance with the terms of a debt instrument. The Group has chosen to apply the fair value option to certain written financial guarantees that are managed on a fair value basis. Financial guarantees that the Group has not designated at fair value are recognized initially in the financial statements at fair value on the date the guarantee is given. Subsequent to initial recognition, the Group’s liabilities under such guarantees are measured at the higher of the amount initially recognized, less cumulative amortization, and the best estimate of the expenditure required to settle any financial obligation as of the balance sheet date. These estimates are determined based on experience with similar transactions and history of past losses, and management’s determination of the best estimate. Any increase in the liability relating to guarantees is recorded in the Consolidated Statement of Income in provision for credit losses. |
Leasing Transactions [text block] | Leasing Transactions The Group enters into lease contracts, predominantly for premises, as a lessee. The terms and conditions of these contracts are assessed and the leases are classified as operating leases or finance leases according to their economic substance at inception of the lease. Assets held under finance leases are initially recognized on the consolidated balance sheet at an amount equal to the fair value of the leased property or, if lower, the present value of the minimum lease payments. The corresponding liability to the lessor is included in the Consolidated balance sheet as a finance lease obligation. The discount rate used in calculating the present value of the minimum lease payments is either the interest rate implicit in the lease, if it is practicable to determine, or the incremental borrowing rate. Contingent rentals are recognized as an expense in the periods in which they are incurred. Operating lease rentals payable are recognized as an expense on a straight-line basis over the lease term, which commences when the lessee controls the physical use of the property. Lease incentives are treated as a reduction of rental expense and are also recognized over the lease term on a straight-line basis. Contingent rentals arising under operating leases are recognized as an expense in the period in which they are incurred. |
Employee Benefits [text block] | Employee Benefits Pension Benefits The Group provides a number of pension plans. In addition to defined contribution plans, there are retirement benefit plans accounted for as defined benefit plans. The assets of all the Group’s defined contribution plans are held in independently administered funds. Contributions are generally determined as a percentage of salary and are expensed based on employee services rendered, generally in the year of contribution. All retirement benefit plans accounted for as defined benefit plans are valued using the projected unit-credit method to determine the present value of the defined benefit obligation and the related service costs. Under this method, the determination is based on actuarial calculations which include assumptions about demographics, salary increases and interest and inflation rates. Actuarial gains and losses are recognized in other comprehensive income and presented in equity in the period in which they occur. The majority of the Group’s benefit plans is funded. Other Post-Employment Benefits In addition, the Group maintains unfunded contributory post-employment medical plans for a number of current and retired employees who are mainly located in the United States. These plans pay stated percentages of eligible medical and dental expenses of retirees after a stated deductible has been met. The Group funds these plans on a cash basis as benefits are due. Analogous to retirement benefit plans these plans are valued using the projected unit-credit method. Actuarial gains and losses are recognized in full in the period in which they occur in other comprehensive income and presented in equity. Refer to Note 35 “Employee Benefits” for further information on the accounting for pension benefits and other post-employment benefits. Termination benefits Termination benefits arise when employment is terminated by the Group before the normal retirement date or whenever an employee accepts voluntary redundancy in exchange for these benefits. The Group recognizes termination benefits as a liability and an expense if the Group is demonstrably committed to a detailed formal plan without realistic possibility of withdrawal. In the case of an offer made to encourage voluntary redundancy, termination benefits are measured based on the number of employees expected to accept the offer. Benefits falling due more than twelve months after the end of the reporting period are discounted to their present value. The discount rate is determined by reference to market yields on high-quality corporate bonds. Share-Based Compensation Compensation expense for awards classified as equity instruments is measured at the grant date based on the fair value of the share-based award. For share awards, the fair value is the quoted market price of the share reduced by the present value of the expected dividends that will not be received by the employee and adjusted for the effect, if any, of restrictions beyond the vesting date. In case an award is modified such that its fair value immediately after modification exceeds its fair value immediately prior to modification, a remeasurement takes place and the resulting increase in fair value is recognized as additional compensation expense. The Group records the offsetting amount to the recognized compensation expense in additional paid-in capital (“APIC”). Compensation expense is recorded on a straight-line basis over the period in which employees perform services to which the awards relate or over the period of the tranches for those awards delivered in tranches. Estimates of expected forfeitures are periodically adjusted in the event of actual forfeitures or for changes in expectations. The timing of expense recognition relating to grants which, due to early retirement provisions, include a nominal but non-substantive service period are accelerated by shortening the amortization period of the expense from the grant date to the date when the employee meets the eligibility criteria for the award, and not the vesting date. For awards that are delivered in tranches, each tranche is considered a separate award and amortized separately. Compensation expense for share-based awards payable in cash is remeasured to fair value at each balance sheet date and recognized over the vesting period in which the related employee services are rendered. The related obligations are included in other liabilities until paid. |
Obligations to Purchase Common Shares [text block] | Obligations to Purchase Common Shares Forward purchases of Deutsche Bank shares, and written put options where Deutsche Bank shares are the underlying, are reported as obligations to purchase common shares if the number of shares is fixed and physical settlement for a fixed amount of cash is required. At inception, the obligation is recorded at the present value of the settlement amount of the forward or option. For forward purchases and written put options of Deutsche Bank shares, a corresponding charge is made to shareholders’ equity and reported as equity classified as an obligation to purchase common shares. The liabilities are accounted for on an accrual basis, and interest costs, which consist of time value of money and dividends, on the liability are reported as interest expense. Upon settlement of such forward purchases and written put options, the liability is extinguished and the charge to equity is reclassified to common shares in treasury. Deutsche Bank common shares subject to such forward contracts are not considered to be outstanding for purposes of basic earnings per share calculations, but are for dilutive earnings per share calculations to the extent that they are, in fact, dilutive. Option and forward contracts on Deutsche Bank shares are classified as equity if the number of shares is fixed and physical settlement is required. All other contracts in which Deutsche Bank shares are the underlying are recorded as financial assets or liabilities at fair value through profit or loss. |
Consolidated Statement of Cash Flows [text block] | Consolidated Statement of Cash Flows For purposes of the consolidated statement of cash flows, the Group’s cash and cash equivalents include highly liquid investments that are readily convertible into cash and which are subject to an insignificant risk of change in value. Such investments include cash and balances at central banks and demand deposits with banks. The Group’s assignment of cash flows to the operating, investing or financing category depends on the business model (“management approach”). For the Group the primary operating activity is to manage financial assets and financial liabilities. Therefore, the issuance and management of long-term borrowings is a core operating activity which is different than for a non-financial company, where borrowing is not a principal revenue producing activity and thus is part of the financing category. The Group views the issuance of senior long-term debt as an operating activity. Senior long-term debt comprises structured notes and asset-backed securities, which are designed and executed by Corporate & Investment Bank business lines and which are revenue generating activities. The other component is debt issued by Treasury, which is considered interchangeable with other funding sources; all of the funding costs are allocated to business activities to establish their profitability. Cash flows related to subordinated long-term debt and trust preferred securities are viewed differently than those related to senior-long term debt because they are managed as an integral part of the Group’s capital, primarily to meet regulatory capital requirements. As a result they are not interchangeable with other operating liabilities, but can only be interchanged with equity and thus are considered part of the financing category. The amounts shown in the consolidated statement of cash flows do not precisely match the movements in the consolidated balance sheet from one period to the next as they exclude non-cash items such as movements due to foreign exchange translation and movements due to changes in the group of consolidated companies. Movements in balances carried at fair value through profit or loss represent all changes affecting the carrying value. This includes the effects of market movements and cash inflows and outflows. The movements in balances carried at fair value are usually presented in operating cash flows. |
Risk Report - Market Risk (Tabl
Risk Report - Market Risk (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Market Risk [Abstract] | |
Value-at Risk of Trading Units by Risk Type [text block table] | Value-at-Risk of our Trading Units by Risk Type Total Diversification Interest rate Credit spread Equity price Foreign exchange Commodity price in € m. 2018 2017 2018 2017 2018 2017 2018 2017 2018 2017 2018 2017 2018 2017 Average 27.5 29.8 (25.5 ) (28.1 ) 17.6 20.2 16.4 19.7 10.0 8.7 8.3 8.4 0.6 0.8 Maximum 40.9 38.4 (35.0 ) (37.6 ) 32.6 26.0 24.0 25.1 14.5 12.5 13.0 16.5 1.3 3.0 Minimum 19.8 20.1 (20.2 ) (21.4 ) 12.4 13.5 13.0 13.5 6.9 4.4 3.8 4.2 0.2 0.1 Period-end 32.1 29.1 (26.9 ) (22.5 ) 14.1 21.4 22.3 14.4 13.0 10.1 9.2 4.9 0.3 0.7 1 Includes value-at-risk from gold and other precious metal positions. |
Average, Maximum and Minimum Stressed Value-at-Risk by Risk Type [text block table] | Average, Maximum and Minimum Stressed Value-at-Risk by Risk Type Total Diversification Interest rate Credit spread Equity price Foreign exchange Commodity price in € m. 2018 2017 2018 2017 2018 2017 2018 2017 2018 2017 2018 2017 2018 2017 Average 84.1 76.7 (81.9 ) (88.4 ) 58.3 69.8 69.3 62.1 16.1 18.8 20.0 12.6 2.4 1.8 Maximum 124.7 125.0 (106.7 ) (115.8 ) 89.9 92.0 79.7 73.2 78.1 66.8 38.2 28.0 7.7 6.1 Minimum 61.2 42.0 (66.1 ) (73.0 ) 35.2 48.3 59.0 54.3 2.4 1.5 7.7 6.9 0.5 0.3 Period-end 96.2 85.6 (75.3 ) (81.0 ) 57.6 67.8 70.1 64.3 21.3 19.9 21.7 12.6 0.7 1.9 1 Includes value-at-risk from gold and other precious metal positions. |
Average, Maximum and Minimum Incremental Risk Charge of Trading Units (with a 99.9 percent confidence level and one-year capital horizon) [text block table] | Average, Maximum and Minimum Incremental Risk Charge of Trading Units (with a 99.9 % confidence level and one-year capital horizon) 1,2,3, Total Global Credit Core Rates Fixed Income & Emerging Other in € m. 2018 2017 2018 2017 2018 2017 2018 2017 2018 2017 2018 2017 Average 680.6 802.1 335.8 544.6 271.1 107.1 224.8 168.1 (11.9 ) 37.2 (139.2 ) (54.8 ) Maximum 847.6 899.3 403.4 597.4 481.9 172.5 451.9 229.0 17.3 62.9 (111.3 ) (20.4 ) Minimum 550.8 754.8 274.6 503.7 159.1 48.7 72.1 92.4 (29.2 ) (1.4 ) (177.1 ) (90.0 ) Period-end 805.4 789.6 383.6 540.1 388.6 133.2 188.0 142.3 5.8 19.9 (160.5 ) (45.9 ) 1 Amounts show the bands within which the values fluctuated during the 12-weeks preceding December 31, 201 8 and December 31, 201 7 , respectively. 2 Business line break downs have been updated for 2018 reporting to better reflect the current business structure. 3 All liquidity horizons are set to 12 months. |
Average, Maximum and Minimum Comprehensive Risk Measure of Trading Units (with a 99.9 % confidence level and one-year capital horizon) [text block table] | Average, Maximum and Minimum Comprehensive Risk Measure of Trading Units (with a 99.9 % confidence level and one-year capital horizon) 1,2,3 in € m. 2018 2017 Average 0.0 5.4 Maximum 0.0 6.3 Minimum 0.0 4.5 Period-end 0.0 4.4 1 Regulatory Comprehensive Risk Measure calculated for the 1 2-week period ending December 31 . 2 Period end is based on the internal model spot value. 3 All liquidity horizons are set to 12 months. |
Economic Capital Usage by risk type [text block table] | Economic Capital Usage by risk type . Economic capital usage in € m. Dec 31, 2018 Dec 31, 2017 Interest rate risk 1,416 1,743 Credit spread risk 271 722 Equity and Investment risk 1,239 1,431 Foreign exchange risk 1,713 1,509 Pension risk 1,588 1,174 Guaranteed funds risk 68 49 Total nontrading market risk portfolios 6,295 6,628 |
Risk Report - Liquidity Risk (T
Risk Report - Liquidity Risk (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Liquidity Risk [Abstract] | |
Global All Currency Daily Stress Testing Results [text block table] | Global All Currency Daily Stress Testing Results Dec 31, 2018 Dec 31, 2017 in € bn. Funding Gap Net Liquidity Funding Gap Net Liquidity Systemic market risk 93 209 116 121 284 163 1 notch downgrade (DB specific) 63 193 131 79 252 173 Severe downgrade (DB specific) 222 278 57 287 331 43 Combined 3 231 279 48 318 351 33 1 Funding gap caused by impaired rollover of liabiliti es and other projected outflows. 2 Based on liquidity generation through Liquidity Reserves and other countermeasures. 3 Combined impact of systemic market risk and severe downgrade . |
Risk Report - Credit Risk Expos
Risk Report - Credit Risk Exposure (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Credit Risk Exposure [Abstract] | |
Maximum Exposure to Credit Risk [text block table] | Maximum Exposure to Credit Risk Dec 31, 2018 Credit Enhancements in € m. Maximum 1 Subject to Netting Collateral Guarantees 2 Total credit Financial assets at amortized cost 3 Cash and central bank balances 188,736 188,736 − 0 − 0 Interbank balances (w/o central banks) 8,885 8,885 − 4 0 4 Central bank funds sold and securities purchased under resale agreements 8,222 8,222 − 7,734 − 7,734 Securities borrowed 3,396 3,396 − 0 − 0 Loans 404,537 404,537 − 224,353 16,582 240,934 Other assets subject to credit risk 4,5 71,899 65,010 29,073 3,199 79 32,352 Securities held to maturity N/M N/M N/M N/M N/M N/M Total financial assets at amortized cost 3 685,676 678,787 29,073 235,290 16,661 281,024 6 Trading assets 96,966 − − 677 155 831 Positive market values from derivative financial instruments 320,058 − 250,231 48,548 82 298,861 Non-trading financial assets mandatory at fair value through profit or loss 97,771 − 245 67,385 0 67,630 Of which: Securities purchased under resale agreement 44,543 − 245 43,258 0 43,503 Securities borrowed 24,210 − − 24,003 0 24,003 Loans 12,741 − − 125 0 125 Financial assets designated at fair value through profit or loss 104 − − 0 0 0 Financial assets available for sale N/M N/M N/M N/M N/M N/M Total financial assets at fair value through profit or loss 514,899 − 250,476 116,610 237 367,323 51,182 51,182 0 1,488 520 2,008 Of which: Securities purchased under resale agreement 1,097 1,097 − 621 0 621 Securities borrowed 0 0 − 0 0 0 Loans 5,092 5,092 − 450 104 554 Total financial assets at fair value through OCI 51,182 51,182 − 1,488 520 2,008 7 51,605 51,605 − 3,375 5,291 8,666 Revocable and irrevocable lending commitments and other credit related commitments 7 212,049 211,055 − 16,418 4,734 21,152 Total off-balance sheet 263,654 262,659 − 19,793 10,025 29,818 Maximum exposure to credit risk 1,515,410 992,628 279,550 373,181 27,443 680,173 1 Does not include credit derivative notional sold ( € 415,967 million ) and credit derivative notional bought protection. 2 Bought Credit protection is reflected with the notional of the underlying . 3 All amounts at gross value before deductions of allowance for credit losses . 4 All amounts at amortized cost (gross) except for qualifying hedge derivatives, which are reflected at Fair value through P&L . 5 Includes Asset Held for Sale regardless of accounting classification . 6 Excludes equities, other equity interests and commodities. 7 Figures are reflected at notional amounts. Dec 31, 2017 Credit Enhancements in € m.¹ Maximum 2 Netting Collateral Guarantees 3 Total credit Cash and central bank balances 225,655 − 0 − 0 Interbank balances (w/o central banks) 9,265 − 0 7 7 Central bank funds sold and securities purchased under resale agreements 9,971 − 9,914 − 9,914 Securities borrowed 16,732 − 15,755 − 15,755 Financial assets at fair value through profit or loss 4 550,313 286,149 136,650 265 423,065 Trading assets 98,730 − 2,635 146 2,781 Positive market values from derivative financial instruments 361,032 285,421 52,797 119 338,338 Financial assets designated at fair value through 90,551 728 81,218 0 81,946 Of which: Securities purchased under resale agreement 57,843 728 56,566 0 57,294 Securities borrowed 20,254 − 20,034 0 20,034 Financial assets available for sale 4 47,766 − 559 0 559 Loans 5 405,621 − 211,578 20,063 231,641 Securities held to maturity 3,170 − − − − Other assets subject to credit risk 66,900 29,854 1,514 56 31,424 Financial guarantees and other credit related contingent liabilities 6 48,212 − 4,024 6,579 10,604 Irrevocable lending commitments and other credit related commitments 6 158,253 − 7,544 1,759 9,303 Maximum exposure to credit risk 1,541,858 316,003 387,538 28,730 732,271 1 All amounts at carrying value unless otherwise indicated. 2 Does not include credit derivative notional sold ( € 828,804 million ) and credit derivative notional bought protection. 3 Bought credit protection is reflected with the notional of the underlying. 4 Excludes equities, other equity interests and commodities. 5 Gross loans less deferred expense/unearned income before deductions of allowance for loan losses. 6 Figures are reflected at notional amounts. Revocable commitments not included in the year were € 45.1 billion . |
Main Credit Exposure Categories by Industry Sectors [text block table] | Main Credit Exposure Categories by Industry Sectors Dec 31, 2018 Loans Off-balance sheet OTC derivatives in € m. at amortized 1 trading - Designated / at fair value 2 Revocable and 3 Contingent at fair value 4 Agriculture, forestry and fishing 640 15 0 0 541 40 5 Mining and quarrying 2,995 563 0 141 6,094 1,505 210 Manufacturing 28,342 786 7 1,831 45,296 11,985 1,378 Electricity, gas, steam and air conditioning supply 3,210 284 57 3 4,908 1,563 452 Water supply, sewerage, waste management and remediation activities 867 28 0 0 399 155 181 Construction 3,902 495 0 25 3,638 2,089 338 Wholesale and retail trade, repair of motor vehicles and motorcycles 20,293 488 215 875 14,380 5,058 317 Transport and storage 5,774 647 48 79 5,059 920 1,017 Accommodation and food service activities 2,026 40 0 28 1,761 195 158 Information and communication 4,372 505 29 374 17,277 2,061 793 Financial and insurance activities 77,628 3,530 11,845 882 62,739 22,191 17,415 Real estate activities 33,432 1,538 88 95 5,375 221 1,084 Professional, scientific and technical activities 6,590 239 0 190 4,172 1,708 47 Administrative and support service activities 7,381 338 169 34 4,835 451 628 Public administration and defense, compulsory social security 8,917 1,160 203 472 978 48 2,088 Education 698 1 0 0 76 18 362 Human health services and social work activities 3,483 104 0 31 1,862 124 239 Arts, entertainment and recreation 859 71 0 21 873 38 13 Other service activities 4,720 520 77 10 2,406 708 157 Activities of households as employers, undifferentiated goods- and services-producing activities of households for own use 188,407 85 2 0 29,372 522 347 Activities of extraterritorial organizations and bodies 1 25 0 0 7 6 188 Total 404,537 11,462 12,741 5,092 212,049 51,605 27,417 Dec 31, 2018 Debt Securities Repo and repo-style transactions 7 Total in € m. at amortized cost 5 at fair value at fair value 6 at amortized cost 8 at fair value at fair value 9 Agriculture, forestry and fishing 0 9 0 0 0 0 1,251 Mining and quarrying 119 481 5 0 0 0 12,113 Manufacturing 472 1,245 47 0 0 0 91,389 Electricity, gas, steam and air conditioning supply 374 631 45 0 0 0 11,527 Water supply, sewerage, waste management and remediation activities 5 36 0 0 0 0 1,670 Construction 35 585 59 0 0 0 11,165 Wholesale and retail trade, repair of motor vehicles and motorcycles 87 224 1 0 0 0 41,938 Transport and storage 100 608 55 0 0 0 14,308 Accommodation and food service activities 21 25 0 0 0 0 4,254 Information and communication 168 724 505 0 0 0 26,810 Financial and insurance activities 2,771 18,102 16,219 10,668 66,949 1,097 312,035 Real estate activities 84 1,928 23 6 28 0 43,903 Professional, scientific and technical activities 23 306 0 0 0 0 13,275 Administrative and support service activities 38 160 0 434 131 0 14,599 Public administration and defense, compulsory social security 797 63,468 27,892 510 1,631 0 108,165 Education 0 121 0 0 0 0 1,275 Human health services and social work activities 0 474 63 0 0 0 6,381 Arts, entertainment and recreation 0 398 0 0 0 0 2,273 Other service activities 43 2,691 26 0 13 0 11,371 Activities of households as employers, undifferentiated goods- and services-producing activities of households for own use 0 0 0 0 0 0 218,735 Activities of extraterritorial organizations and bodies 62 448 54 0 0 0 790 Total 5,199 92,664 44,993 11,618 68,752 1,097 949,227 1 Includes stage 3 and stage 3 POCI loans at amortized cost amounting to € 9.1 billion as of December 31, 2018. 2 Includes stage 3 and stage 3 POCI loans at fair value through OCI amounting to € 1 million as of December 31, 2018 3 Includes stage 3 and stage 3 POCI off-balance sheet exposure amounting to € 599 million as of December 31, 2018. 4 Includes the effect of netting agreements and cash collateral received where applicable. Excludes derivatives qualifying for hedge accounting. 5 Includes stage 3 and stage 3 POCI debt securities at amortized cost amounting to € 73 mi llion as of December 31, 2018. 6 Includes stage 3 and stage 3 POCI debt securities at fair value through OCI amounting to € 2 million as of December 31, 2018. 7 Before reflection of collateral and limited to securities purchased under resale agreements and securities borrowed. 8 Includes stage 3 and stage 3 POCI repo and repo-style transactions at amortized cost amounting to € 0 as of December 31, 2018. 9 Includes stage 3 and stage 3 POCI repo and repo-style transactions at fair value through OCI amounting to € 0 as of December 31, 201 8. Dec 31, 2017 Loans Off-balance sheet OTC Debt securities Repo and Total in € m. Loans¹ Traded Irrevocable Contingent OTC Debt Traded Repo and Total Financial intermediation 52,087 1,635 31,839 9,407 17,991 15,590 16,982 100,006 245,536 Fund management activities 18,668 306 6,213 173 1,232 53 737 44 27,426 Manufacturing 27,569 628 38,450 14,893 1,347 294 1,991 0 85,172 Wholesale and retail trade 19,246 388 10,684 5,623 413 50 501 0 36,905 Households 186,687 74 9,975 671 398 0 0 0 197,805 Commercial real estate activities 29,180 2,080 4,343 508 1,185 1 1,468 41 38,806 Public sector 13,510 611 844 138 3,510 30,301 54,989 4,694 108,597 Other 6 58,674 5,154 55,904 16,799 5,353 1,963 10,596 16 154,459 Total 405,621 10,876 158,253 48,212 31,430 48,251 87,264 104,800 894,707 1 Includes impaired loans amounting to € 6.2 billion as of December 31, 2017 . 2 Includes irrevocable lending commitments related to consumer credit exposure of € 10.1 billion as of December 31, 2017 . 3 Includes the effect of netting agreements and cash collateral received where applicable. Excludes derivatives qualifying for hedge accounting. 4 Includes debt securities on financial assets available for sale and securities held to maturity. 5 Before reflection of collateral and limited to securities purchased under resale agreements and securities borrowed. 6 Major industries within Other were: Real estate other than commercial (€ 63.4 billion), Transport; storage and communication (€ 28.2 billion), Other community and personal social services (€ 14.1 billion), Electricity; gas and water supply (€ 12.8 billion), Construction (€ 11.7 billion) and Mining and quarrying (€ 10.0 billion). |
Main credit exposure categories by geographical region [text block table] | Main credit exposure categories by geographical region Dec 31, 2018 Loans Off-balance sheet OTC derivatives in € m. at amortized cost 1 trading - Designated / at fair value 2 Revocable 3 Contingent at fair value 4 Europe 293,979 3,829 9,905 1,785 111,675 31,174 16,390 Of which: Germany 207,429 497 304 390 61,587 12,193 1,403 United Kingdom 5,553 671 1,331 278 7,304 3,127 5,766 France 2,415 123 212 81 5,025 2,460 826 Luxembourg 7,543 533 6,920 41 6,682 875 933 Italy 21,363 373 99 0 3,417 3,416 1,174 Netherlands 7,968 125 41 384 9,384 1,470 1,984 Spain 16,729 320 57 67 2,507 3,167 931 Ireland 5,792 230 324 166 3,430 153 772 Switzerland 5,960 31 127 208 3,996 2,419 251 Poland 3,135 0 5 0 301 132 53 Belgium 988 2 53 84 1,986 395 264 Other Europe 9,104 924 431 85 6,057 1,366 2,033 North America 65,716 4,383 2,365 2,311 91,672 9,274 8,011 Of which: U.S. 53,195 4,036 2,358 2,209 85,445 8,797 6,196 Cayman Islands 2,562 55 7 0 2,151 17 756 Canada 2,181 48 0 102 2,649 76 828 Other North America 7,778 244 0 0 1,427 384 232 Asia/Pacific 38,176 1,794 471 863 7,052 9,591 2,391 Of which: Japan 1,682 37 0 123 334 236 362 Australia 1,224 177 417 11 2,016 135 358 India 7,355 188 18 3 782 2,061 115 China 4,530 60 0 18 346 1,101 399 Singapore 6,136 238 0 109 1,063 992 192 Hong Kong 4,026 203 0 17 1,023 586 138 Other Asia/Pacific 13,223 893 37 582 1,489 4,480 827 Other geographical areas 6,667 1,456 0 132 1,651 1,566 625 Total 404,537 11,462 12,741 5,092 212,049 51,605 27,417 Dec 31, 2018 Debt Securities Repo and repo-style transactions 7 Total in € m. at amortized cost 5 at fair value at fair value 6 at amortized cost 8 at fair value at fair value 9 Europe 4,467 36,459 24,922 4,394 14,342 316 553,638 Of which: Germany 1,443 6,685 9,597 925 899 2 303,352 United Kingdom 182 14,552 2,499 966 4,379 0 46,608 France 714 3,061 1,559 0 3,681 0 20,157 Luxembourg 167 1,332 3,474 89 1,206 0 29,796 Italy 249 2,707 1,146 578 1,040 0 35,563 Netherlands 592 1,785 1,219 0 179 0 25,130 Spain 168 2,146 504 379 529 0 27,504 Ireland 91 920 215 0 1,277 0 13,370 Switzerland 40 560 119 112 316 0 14,139 Poland 0 130 2,387 0 0 0 6,144 Belgium 139 542 481 0 0 0 4,935 Other Europe 682 2,038 1,724 1,344 836 315 26,938 North America 237 34,356 14,491 1,942 45,548 0 280,306 Of which: U.S. 220 33,112 13,915 1,275 30,428 0 241,186 Cayman Islands 0 631 9 655 14,094 0 20,937 Canada 0 419 556 0 847 0 7,707 Other North America 17 194 10 12 178 0 10,476 Asia/Pacific 495 19,343 5,037 4,567 8,625 226 98,632 Of which: Japan 63 3,142 8 2,752 5,808 0 14,545 Australia 0 3,977 510 19 523 0 9,366 India 267 2,172 1,849 0 79 61 14,948 China 0 2,124 0 0 614 0 9,192 Singapore 114 1,403 671 0 325 0 11,242 Hong Kong 0 520 222 0 11 0 6,746 Other Asia/Pacific 51 6,006 1,777 1,797 1,266 165 32,594 Other geographical areas 0 2,506 543 714 237 555 16,651 Total 5,199 92,664 44,993 11,618 68,752 1,097 949,227 1 Includes stage 3 and stage 3 POCI loans at amortized cost amounting to € 9.1 billion as of December 31, 2018 . 2 Includes stage 3 and stage 3 POCI loans at fair value through OCI amounting to € 1 million as of December 31, 2018 . 3 Includes stage 3 and stage 3 POCI off-balance sheet exposure amounting to € 599 million as of December 31, 2018 . 4 Includes the effect of netting agreements and cash collateral received where applicable. Excludes derivatives qualifying for hedge accounting . 5 Includes stage 3 and stage 3 POCI debt securities at amortized cost amounting to € 73 million as of December 31, 2018 . 6 Includes stage 3 and stage 3 POCI debt securities at fair value through OCI amounting to € 2 million as of December 31, 2018 . 7 Before reflection of collateral and limited to securities purchased under resale agreements and securities borrowed. 8 Includes stage 3 and stage 3 POCI repo and repo-style transactions at amortized cost amounting to € 0 as of December 31, 2018. 9 Includes stage 3 and stage 3 POCI repo and repo-style transactions at fair value through OCI amounting to € 0 as of December 31, 2018. Dec 31, 2017 Loans Off-balance sheet OTC 3 Debt securities Repo and 5 Total in € m. Loans 1 Traded Irrevocable 2 Contingent OTC 3 Debt 4 Traded Repo and 5 Total Europe 299,937 3,149 65,739 27,574 18,353 35,304 33,120 26,648 509,825 Of which: Germany 199,867 146 27,483 10,739 1,661 12,414 4,912 3,421 260,644 United Kingdom 6,895 190 5,748 1,514 5,849 864 9,668 10,123 40,851 France 2,651 242 8,265 1,266 1,231 3,597 3,096 3,442 23,788 Luxembourg 15,983 247 2,858 484 1,102 6,142 1,017 711 28,544 Italy 21,836 497 1,642 3,657 1,750 642 4,167 820 35,012 Netherlands 8,304 493 6,498 1,627 2,292 2,793 2,022 82 24,112 Spain 13,250 227 1,866 3,046 704 946 2,188 987 23,213 Ireland 4,415 272 1,843 481 972 655 1,022 2,673 12,333 Switzerland 6,922 65 2,324 2,488 313 163 644 416 13,336 Poland 7,871 36 807 234 26 1,820 296 0 11,089 Belgium 1,177 12 1,280 405 352 1,574 601 0 5,401 Other Europe 10,765 723 5,124 1,633 2,099 3,696 3,486 3,975 31,500 North America 64,086 5,129 85,358 10,031 10,015 10,986 31,636 56,776 274,017 Of which: U.S. 53,795 4,750 80,776 9,489 8,036 10,623 29,972 44,659 242,101 Cayman Islands 2,312 103 1,951 52 700 17 1,041 9,162 15,336 Canada 838 87 1,564 110 1,092 346 272 1,688 5,996 Other North America 7,141 190 1,068 380 187 0 351 1,267 10,584 Asia/Pacific 34,469 1,735 4,447 8,967 2,254 1,025 20,319 19,909 93,126 Of which: Japan 1,093 66 276 349 366 15 4,760 10,354 17,278 Australia 1,477 310 1,076 128 277 588 3,716 1,453 9,026 India 7,034 86 717 1,645 219 0 3,973 1,517 15,191 China 4,393 2 378 1,195 263 0 836 3,130 10,198 Singapore 4,946 75 419 794 177 0 927 220 7,559 Hong Kong 4,224 551 385 598 144 2 399 45 6,348 Other Asia/Pacific 11,300 644 1,197 4,259 808 419 5,707 3,190 27,526 Other geographical areas 7,130 862 2,708 1,639 808 936 2,190 1,466 17,739 Total 405,621 10,876 158,253 48,212 31,430 48,251 87,264 104,800 894,707 1 Includes impaired loans amounting to € 6.2 billion as of December 31, 2017. 2 Includes irrevocable lending commitments related to consumer credit exposure of € 10.1 billion as of December 31, 2017. 3 Includes the effect of netting agreements and cash collateral received where applicable. Excludes derivatives qualifying for hedge accounting. 4 Includes debt securities on financial assets available for sale and securities held to maturity. 5 Before reflection of collateral and limited to securities purchased under resale agreements and securities borrowed. |
Sovereign Credit Risk Exposure to Certain Eurozone Countries [text block table] | Sovereign credit risk exposure to certain E urozone countries Dec 31, 2018 Dec 31, 2017 in € m. Direct Net Notional of Net sovereign Memo Item: Net Direct Net Notional of Net sovereign Memo Item: Net Greece 53 (18 ) 35 0 55 (17 ) 38 0 Ireland 334 5 339 (0 ) 709 9 717 0 Italy 3,627 (1,089 ) 2,538 58 2,834 (1,818 ) 1,016 49 Portugal (204 ) 82 (122 ) 5 (227 ) 3 (223 ) 0 Spain 1,773 (8 ) 1,766 27 1,669 (115 ) 1,554 35 Total 5,583 (1,028 ) 4,555 90 5,040 (1,938 ) 3,102 84 1 Includes sovereign debt classified as financial assets/liabilities at fair value through profit or loss, available for sale (December 2017) and loans carried at amortized cost. Direct Sovereign exposure is net of guarantees received and collateral . 2 The amou nts reflect the net fair value in relation to credit default swaps referencing sovereign debt of the respective country representing the counterparty . |
Risk Report - Asset Quality IAS
Risk Report - Asset Quality IAS 39 (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Asset Quality IAS 39 [Abstract] | |
Non-impaired past due loans at amortized cost by past due status [text block table] | Non-impaired past due loans at amortized cost by past due status in € m. Dec 31, 2017 Loans less than 30 days past due 2,747 Loans 30 or more but less than 60 days past due 482 Loans 60 or more but less than 90 days past due 250 Loans 90 days or more past due 776 Total 4,255 |
Aggregated value of collateral - with the fair values of collateral capped at loan outstanding - held against our non-impaired past due loans [text block table] | Aggregated value of collateral – with the fair values of collateral capped at loan outstanding – held against our non-impaired past due loans in € m. Dec 31, 2017 Financial and other collateral 2,364 Guarantees received 148 Total 2,512 |
Impaired loans, allowance for loan losses and coverage ratios by business division [text block table] | Impaired loans, allowance for loan losses and coverage ratios by business division Dec 31, 2017 in € m. Impaired Loan loss Impaired loan Corporate & Investment Bank 2,517 1,565 62 % Private & Commercial Bank 3,717 2,355 63 % Asset Management 0 0 N/M Corporate & Other 1 1 N/M Total 6,234 3,921 63 % N/M – not meaningful. |
Impaired loans, allowance for loan losses and coverage ratios by industry [text block table] | Impaired loans, allowance for loan losses and coverage ratios by industry Dec 31, 2017 Impaired Loans Loan loss allowance in € m. Individually Collectively Total Individually Collectively Collectively Total Impaired loan Financial intermediation 121 8 129 1 3 40 44 34 % Fund management activities 8 8 16 1 0 3 4 24 % Manufacturing 520 165 685 439 146 51 635 93 % Wholesale and retail trade 333 188 521 211 156 27 394 76 % Households 155 2,233 2,388 153 1,290 83 1,526 64 % Commercial real estate activities 345 30 376 115 11 42 168 45 % Public sector 74 0 74 6 0 12 17 24 % Other¹ 1,792 254 2,046 840 139 153 1,132 55 % Total 3,348 2,886 6,234 1,766 1,745 410 3,921 63 % 1 Thereof: ‘Transportat ion, storage and communication’ - Total Impaired Loans € 808 million / Total Loan loss allowance € 469 million , ‘Real estate; renting and business act ivities’ - € 482 million / € 234 million , ‘Construction’: € 378 million / € 144 million , ‘Mining and quarrying’ - € 169 million / € 116 million . |
Impaired loans, allowance for loan losses and coverage ratios by region [text block table] | Impaired loans, allowance for loan losses and coverage ratios by region Dec 31, 2017 Impaired Loans Loan loss allowance in € m. Individually Collectively Total Individually Collectively Collectively Total Impaired loan Germany 953 1,312 2,266 600 823 104 1,527 67 % Western Europe 1,471 1,422 2,892 815 822 113 1,749 60 % Eastern Europe 45 123 168 45 92 11 147 88 % North America 497 1 498 67 0 102 170 34 % Central and South America 70 0 70 14 0 21 35 50 % Asia/Pacific 264 28 292 223 8 41 272 93 % Africa 48 0 49 1 0 9 10 20 % Other 0 0 0 0 0 11 11 N/M Total 3,348 2,886 6,234 1,766 1,745 410 3,921 63 % N/M – not meaningful. |
Collateral held against impaired loans, with fair values capped at transactional outstanding [text block table] | Collateral held against impaired loans, with fair values capped at transactional outstanding in € m. Dec 31, 2017 Financial and other collateral 1 1,757 Guarantees received 309 Total collateral held for impaired loans 2,066 1 Defaulted mortgage loans secured by residential real estate properties , where the loan agreement has been terminated/cancelled are generally subject to formal foreclosure proceedings . |
Non-impaired past due and impaired financial assets available for sale, accumulated impairments, coverage ratio and collateral held against impaired financial assets available for sale [text block table] | Non-impaired past due and impaired financial assets available for sale, accumulated impairments, coverage ratio and collateral held against impaired financial assets available for sale in € m. Dec 31, 2017 Financial assets non-impaired past due available for sale 1,538 Of which: Less than 30 days past due 176 30 or more but less than 60 days past due 23 60 or more but less than 90 days past due 138 90 days or more past due 1,201 Impaired financial assets available for sale 157 Accumulated impairment for financial assets available for sale 113 Impaired financial assets available for sale coverage ratio in % 71 % Collateral held against impaired financial assets available for sale 17 Of which: Financial and other collateral 17 Guarantees received 0 |
Collateral obtained during the reporting periods IAS 39 [text block table] | Collateral obtained during the reporting periods in € m. 2017 Commercial real estate 9 Residential real estate 1 63 Other 0 Total collateral obtained during the reporting period 72 1 Carrying amount of foreclosed residential real estate properties amounted to € 67 million as of December 31, 2017. |
Risk Report - Asset Quality IFR
Risk Report - Asset Quality IFRS 9 (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Asset Quality IFRS 9 [Abstract] | |
Overview of financial assets subject to impairment [text block table] | Overview of financial assets subject to impairment Dec 31, 2018 Gross Carrying Amount Allowance for Credit Losses 2 in € m. Stage 1 Stage 2 Stage 3 Stage 3 Total Stage 1 Stage 2 Stage 3 Stage 3 Total Amortized Cost 1 637,037 32,335 7,452 1,963 678,787 509 501 3,247 3 4,259 1 Financial Assets at Amortized Cost consist of: Loans at Amortized Cost, Cash and central bank balances, Interbank balances (w/o central banks), Central bank funds sold and securities purchased under resale agreements, Securities borrowed and certain subcategories of Other assets. 2 Allowance for credit losses do not include allowance for country risk amounting to € 6 million as of Dec 31, 2018. Dec 31, 2018 Fair Value Allowance for Credit Losses in € m. Stage 1 Stage 2 Stage 3 Stage 3 Total Stage 1 Stage 2 Stage 3 Stage 3 Total Fair Value through OCI 50,932 247 2 1 51,182 11 1 0 (0 ) 13 Dec 31, 2018 Notional Amount Allowance for Credit Losses 1 in € m. Stage 1 Stage 2 Stage 3 Stage 3 Total Stage 1 Stage 2 Stage 3 Stage 3 Total Off-balance sheet 252,039 10,021 599 0 262,659 132 73 84 0 289 1 Allowance for credit losses do not include allowance for country risk amounting to € 5 million as of Dec 31, 2018. |
Development of exposures in the reporting period [text block table] | Development of exposures and allowance for credit losses in the reporting period Dec 31, 2018 Gross carrying amount in € m. Stage 1 Stage 2 Stage 3 Stage 3 POCI Total Balance, beginning of year 663,707 30,305 7,726 2,019 703,756 Movements in financial assets including new business 29,175 5,743 1,058 (61 ) 35,914 Transfers due to changes in creditworthiness 1,240 (2,344 ) 1,104 N/M 0 Changes due to modifications that did not result in (11 ) (8 ) (208 ) 0 (227 ) Changes in models N/M N/M N/M N/M N/M Financial assets that have been derecognized during the period (65,682 ) (1,766 ) (2,411 ) (4 ) (69,863 ) Recovery of written off amounts 0 0 146 0 146 Foreign exchange and other changes 8,608 405 37 10 9,060 Balance, end of reporting period 637,037 32,335 7,452 1,963 678,787 |
Development of allowance for credit losses in the reporting period [text block table] | Dec 31, 2018 Allowance for Credit Losses 3 in € m. Stage 1 Stage 2 Stage 3 Stage 3 POCI Total Balance, beginning of year 462 494 3,638 3 4,596 Movements in financial assets including new business (132 ) 215 440 (17 ) 507 Transfers due to changes in creditworthiness 199 (137 ) (62 ) N/M 0 Changes due to modifications that did not result in N/M N/M N/M N/M N/M Changes in models 0 0 0 0 0 Financial assets that have been derecognized during the period² (6 ) (17 ) (972 ) 0 (995 ) Recovery of written off amounts 0 0 172 0 172 Foreign exchange and other changes (14 ) (54 ) 30 17 (21 ) Balance, end of reporting period 509 501 3,247 3 4,259 Provision for Credit Losses excluding country risk 1 66 78 379 (17 ) 507 1 Movements in financial assets including new business, transfers due to changes in creditworthiness and changes in models add up to Provision for Credit Losses excluding country risk. 2 This position includes charge offs of allowance for credit losses. 3 Allowance for credit losses does not include allowance for country risk amounting to € 6 million as of Dec. 31, 2018. |
Financial Assets at amortized cost by business division [text block table] | Financial a ssets at a mortized c ost by b usiness d ivision Dec 31, 2018 Gross Carrying Amount Allowance for Credit Losses in € m. Stage 1 Stage 2 Stage 3 Stage 3 Total Stage 1 Stage 2 Stage 3 Stage 3 Total Corporate & Investment Bank 327,094 14,241 2,403 1,692 345,429 184 99 896 3 1,183 Private & Commercial Bank 299,003 17,226 5,047 271 321,547 321 400 2,350 0 3,071 Asset Management 1,998 304 2 0 2,303 0 0 0 0 1 Corporate & Other 8,943 564 1 0 9,508 3 1 1 0 5 Total 637,037 32,335 7,452 1,963 678,787 509 501 3,247 3 4,259 |
Financial Assets at amortized cost by industry sector [text block table] | Financial a ssets at a mortized c ost by industry sector Dec 31, 2018 Gross Carrying Amount Allowance for Credit Losses in € m. Stage 1 Stage 2 Stage 3 Stage 3 Total Stage 1 Stage 2 Stage 3 Stage 3 Total Agriculture, forestry and fishing 533 38 60 0 631 1 2 21 0 24 Mining and quarrying 2,970 273 147 0 3,390 8 1 5 0 15 Manufacturing 26,695 1,291 783 66 28,836 25 24 449 1 498 Electricity, gas, steam and air conditioning supply 3,476 286 77 0 3,839 3 16 5 0 24 Water supply, sewerage, waste management and remediation activities 777 10 10 0 796 0 0 7 0 7 Construction 3,108 289 338 88 3,823 4 4 244 1 254 Wholesale and retail trade, repair of motor vehicles and motorcycles 19,119 859 593 0 20,572 19 18 403 (0 ) 440 Transport and storage 4,314 875 539 0 5,728 7 6 201 0 214 Accommodation and food service activities 1,692 166 35 121 2,014 3 2 17 0 23 Information and communication 4,443 286 46 0 4,774 8 13 27 0 48 Financial and insurance activities 318,867 10,526 373 633 330,400 81 33 153 7 274 Real estate activities 33,166 2,801 380 401 36,748 35 17 84 (9 ) 128 Professional, scientific and technical activities 8,169 498 151 190 9,008 7 8 83 0 98 Administrative and support service activities 7,091 189 62 32 7,374 8 3 19 (4 ) 25 Public administration and defense, compulsory social security 12,054 1,089 81 1 13,224 4 7 5 0 16 Education 612 19 8 0 638 1 0 7 0 9 Human health services and social work activities 3,246 209 12 2 3,468 7 5 5 0 18 Arts, entertainment and recreation 818 24 14 0 856 2 0 5 0 7 Other service activities 7,788 486 104 239 8,617 9 4 34 4 51 Activities of households as employers, undifferentiated goods- and services-producing activities of households for own use 177,927 12,121 3,639 191 193,878 276 336 1,473 4 2,088 Activities of extraterritorial organizations and bodies 173 0 1 0 173 0 0 0 0 0 Total 637,037 32,335 7,452 1,963 678,787 509 501 3,247 3 4,259 |
Financial Assets at amortized cost by region [text block table] | Financial a ssets at a mortized c ost by region Dec 31, 2018 Gross Carrying Amount Allowance for Credit Losses in € m. Stage 1 Stage 2 Stage 3 Stage 3 Total Stage 1 Stage 2 Stage 3 Stage 3 Total Germany 291,850 12,247 3,088 303 307,488 247 275 1,303 0 1,825 Western Europe 119,622 7,499 3,072 1,543 131,736 122 175 1,604 5 1,907 Eastern Europe 6,309 401 88 0 6,798 5 4 38 0 47 North America 147,300 7,572 554 20 155,446 66 32 48 1 147 Central and South America 4,717 558 155 0 5,430 7 2 22 0 31 Asia/Pacific 55,490 3,353 374 98 59,315 32 9 200 (4 ) 237 Africa 1,996 470 78 0 2,544 7 4 31 0 42 Other 9,753 234 43 0 10,031 22 0 1 0 24 Total 637,037 32,335 7,452 1,963 678,787 509 501 3,247 3 4,259 |
Financial Assets at amortized cost by rating class [text block table] | Financial a ssets at a mortized c ost by rating class Dec 31, 2018 Gross Carrying Amount Allowance for Credit Losses in € m. Stage 1 Stage 2 Stage 3 Stage 3 Total Stage 1 Stage 2 Stage 3 Stage 3 Total iAAA–iAA 235,913 2,315 0 0 238,229 2 0 0 0 3 iA 81,579 3,027 0 0 84,606 6 1 0 0 7 iBBB 138,596 2,508 0 0 141,104 36 8 0 0 43 iBB 137,768 8,318 0 232 146,318 177 61 0 0 238 iB 35,725 10,378 0 11 46,114 239 187 0 0 426 iCCC and below 7,456 5,788 7,452 1,720 22,416 49 243 3,247 3 3,542 Total 637,037 32,335 7,452 1,963 678,787 509 501 3,247 3 4,259 |
Collateral held against Financial Assets at amortized in stage 3 [text block table] | Collateral held against financial assets at amortized cost in stage 3 Dec 31, 2018 in € m. Gross Carrying Collateral Guarantees Financial Assets at Amortized Cost (Stage 3) 7,452 2,714 221 |
Modified assets at amortized cost [text block table] | Modified Assets Amortized Cost Dec 31, 2018 in € m. Stage 1 Stage 2 Stage 3 Stage 3 Total Amortized cost carrying amount prior to modification 11 8 222 0 241 Net modification gain/losses recognized (11 ) (8 ) (208 ) 0 (227 ) |
Off-balance sheet development of nominal [text block table] | Development of nominal amount and allowance for credit losses Dec 31, 2018 Nominal Amount in € m. Stage 1 Stage 2 Stage 3 Stage 3 POCI Total Balance, beginning of year 1 243,566 7,114 1,448 0 252,129 Movements including new business 6,765 3,923 (1,191 ) 0 9,496 Transfers due to changes in creditworthiness 752 (1,089 ) 338 N/M 0 Changes in models N/M N/M N/M N/M N/M Foreign exchange and other changes 957 73 4 0 1,035 Balance, end of reporting period 252,039 10,021 599 0 262,659 1 Revocable commitments were included in impairment relevant exposures in Q4 2018. As a consequence, Balance, beginning of year was restated compared to our interim reports 2018 . |
Off-balance sheet development of allowance for credit losses [text block table] | Dec 31, 2018 Allowance for Credit Losses 2 in € m. Stage 1 Stage 2 Stage 3 Stage 3 POCI Total Balance, beginning of year 117 36 119 0 272 Movements including new business (0 ) 31 (13 ) 0 18 Transfers due to changes in creditworthiness 2 (0 ) (2 ) N/M 0 Changes in models N/M N/M N/M N/M N/M Foreign exchange and other changes 14 6 (20 ) 0 (0 ) Balance, end of reporting period 132 73 84 0 289 Provision for Credit Losses excluding country risk 1 1 31 (15 ) 0 18 1 The above table breaks down the impact on provision for credit losses from movements in financial assets including new business, transfers due to changes in creditworthiness and changes in models. 2 Allowance for credit losses does not include allowance f or country risk amounting to € 5 million as of December 31 , 2018. |
Collateral obtained during the reporting periods IFRS 9 [text block table] | Collateral Obtained during the reporting period in € m. 2018 Commercial real estate 7 Residential real estate 1 57 Other 0 Total collateral obtained during the reporting period 64 1 C arrying amount of foreclosed residential real es tate properties amounted to € 62 million as of December 31, 2018 and € 67 million as of December 31, 2017 . |
Recently Adopted and New Acco_2
Recently Adopted and New Accounting Pronouncements (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Recently Adopted and New Accounting Pronouncements [Abstract] | |
Key Metrics [text block table] | Key metrics IAS 39 IFRS 9 Dec 31, 2017 Jan 1, 2018 ¹ Impact IFRS Total shareholders’ equity in € m 63,174 62,503 (671 ) Common Equity Tier 1 capital fully loaded in € m 48,300 47,907 (393 ) Risk Weighted Assets in € bn 344 345 0.5 Tier 1 Capital fully loaded in € m 52,921 52,528 (393 ) CET 1 Ratio fully loaded in % 14.0 % 13.9 % 13.0 % 2 Leverage Exposure in € bn 1,395 1,395 (0.4 ) Leverage Ratio fully loaded in % 3.8 % 3.8 % 3.0 % 2 Leverage Ratio phase-in in % 4.1 % 4.1 % 3.0 % 2 1 Pro forma. 2 In bps. |
Impact on Regulatory Capital, RWA, and Leverage Exposure 1 Fully loaded [text block table] | in € m. Total Common Equity Tier 1 Capital Balance as of Dec 31, 2017 63,174 48,300 52,921 IFRS 9 changes from (870 ) (870 ) (870 ) Classification and Measurement (193 ) (193 ) (193 ) Impairments (677 ) (677 ) (677 ) Tax effects from 199 199 199 Classification and Measurement 65 65 65 Impairments 134 134 134 IFRS 9 impact net of tax (671 ) (671 ) (671 ) Changes to regulatory deductions Negative amounts resulting from the calculation of expected loss amounts 278 278 Balance as of Jan 1, 2018 1 62,503 47,907 52,528 1 Pro forma. |
Impact on Regulatory Capital, RWA, and Leverage Exposure 2 Fully loaded [text block table] | in € bn Risk Weighted Leverage Balance as of Dec 31, 2017 344 1,395 Changes from 0 (0 ) DTA RWA / Change of Total Assets 1 (1 ) SA RWA/ Lower Deductions (0 ) 0 Balance as of Jan 1, 2018 1 345 1,395 Ratios as of Dec 31, 2017 14.0 % 3.8 % Ratios as of Jan 1, 2018 1 13.9 % 3.8 % Change in bps (13 ) (3 ) 1 Pro forma. |
Impact on Regulatory Capital, RWA, and Leverage Exposure 1 Transitional rules [text block table] | in € m. Total Common Equity Tier 1 Capital Balance as of Dec 31, 2017 63,174 50,808 57,631 IFRS 9 changes from (870 ) (870 ) (870 ) Classification and Measurement (193 ) (193 ) (193 ) Impairments (677 ) (677 ) (677 ) Tax effects from 199 199 199 Classification and Measurement 65 65 65 Impairments 134 134 134 IFRS 9 impact net of tax (671 ) (671 ) (671 ) Changes to regulatory deductions Negative amounts resulting from the calculation of expected loss amounts 223 278 Balance as of Jan 1, 2018 1 62,503 50,359 2 57,238 1 Pro forma. 2 Pro forma view considering 80 % p hase-in according to CRR transitional rules. |
Impact on Regulatory Capital, RWA, and Leverage Exposure 2 Transitional rules [text block table] | in € bn Risk Weighted Leverage Balance as of Dec 31, 2017 343 1,396 Changes from 0 0 DTA RWA / Change of Total Assets 1 0 SA RWA/ Lower Deductions (0 ) 0 Balance as of Jan 1, 2018 1 344 1,396 Ratios as of Dec 31, 2017 14.8 % 4.1 % Ratios as of Jan 1, 2018 1 14.6 % 4.1 % Change in bps (15 ) (3 ) 1 Pro forma. |
Credit Risk Profile by Business Division [text block table] | Main Credit Exposure Categories by Business Divisions With the introduction of IFRS 9 Deutsche Bank reviewed the way, how the credit risk exposure is presented within the Risk Report The definition of the Main Credit Exposure Categories were expanded and instead of only showing a certain subset of products, it was decided to show all products, regardless of their classification and measurement under IFRS 9 - The below table presents the 2017 comparative amounts for each Main Credit Exposure Category. A description of the categories is included in the Credit Risk Exposure section of the Risk Report. Loans Off-balance sheet OTC derivatives Debt securities Repo and repo- Total Dec 31, Dec 31, Dec 31, Dec 31, Dec 31, Dec 31, Dec 31, Dec 31, Dec 31, Dec 31, Dec 31, Dec 31, in € m. 2018 2017 2018 2017 2018 2017 2018 2017 2018 2017 2018 2017 Corporate & Investment Bank 164,163 153,473 217,203 206,021 27,028 30,993 90,062 86,272 76,032 99,335 574,488 576,094 Private & Commercial Bank 269,384 270,398 45,969 46,082 353 422 12,387 14,421 260 835 328,353 332,158 Asset Management 68 87 131 69 0 0 419 106 0 0 618 262 Corporate & Other 216 26 351 159 37 15 39,989 42,187 5,175 4,630 45,768 47,017 Total 433,832 423,984 263,654 252,331 27,417 31,430 142,857 142,986 81,467 104,800 949,227 955,531 |
Classification and Measurement [text block table] | in € m. IAS 39 Reclassi- Remeasure- IFRS 9 Fair Value through Profit or Loss From Available for Sale (IAS 39) - 2,535 (3 ) - From Amortized Cost (IAS 39) - 41,914 (3 ) - To Amortised Cost (IFRS 9) - (5,900 ) - - To Fair Value through Other Comprehensive Income (IFRS 9) - (6,508 ) - - Total Fair Value through Profit or Loss 636,970 32,041 (6 ) 669,004 Fair Value through Other Comprehensive Income From Available for Sale (IAS 39) - 41,219 (104 ) - From Amortized Cost (IAS 39) - 9,943 64 - From Fair Value through Profit or Loss (IAS 39) - 6,508 - - To Amortised Cost (IFRS 9) - - - - To Fair Value through Profit or Loss (IFRS 9) - - - - Total Fair Value through Other Comprehensive Income - 57,671 (40 ) 57,631 Amortised Cost From Amortized Cost (IAS 39) - - - - From Available for Sale (IAS 39) - 5,642 24 - From Fair Value through Profit or Loss (IAS 39) - 5,900 (184 ) - To Fair Value through Other Comprehensive Income (IFRS 9) - (6,773 ) - - To Fair Value through Profit or Loss (IFRS 9) - (41,914 ) - - Total Amortised Cost 780,721 (37,145 ) (159 ) 743,417 Tax Assets 8,396 - 230 8,626 Available for Sale (IAS 39) 49,397 (49,397 ) - - Held to Maturity (IAS 39) 3,170 (3,170 ) - - Total Financial Asset balances affected by IFRS 9, Reclassifications and 1,478,654 0 24 1,478,678 |
Impairment [text block table] | in € m. IAS 39 Changes due to Changes due to Fair Value through profit or loss From available for sale (IAS 39) - - - From amortized cost (IAS 39) - - - To amortized cost (IFRS 9) - - - To fair value through other comprehensive income (IFRS 9) - - - Total Fair Value through Profit or Loss - - - Fair Value through other comprehensive income From available for sale (IAS 39) - - 12 From amortized cost (IAS 39) - - 0 From fair value through profit or loss (IAS 39) - - - To amortized cost (IFRS 9) - - - To fair value through profit or loss (IFRS 9) - - - Total Fair Value through Other Comprehensive Income - - 12 Amortized cost From amortized cost (IAS 39) 3,856 - 737 From available for sale (IAS 39) - - - From fair value through profit or loss (IAS 39) - - 9 To fair value through other comprehensive income (IFRS 9) 10 (10 ) - To fair value through profit or loss (IFRS 9) 55 (55 ) - Total Amortized Cost 3,921 (65 ) 746 Total On Balance Sheet Positions affected by IFRS 9 ECL Model 3,921 (65 ) 758 Off Balance Sheet 285 - (6 ) Total On- and Off Balance Sheet Positions affected by IFRS 9 ECL Model 4,207 (65 ) 753 |
Acquisitions and Dispositions (
Acquisitions and Dispositions (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Acquisitions and Dispositions [Abstract] | |
Deutsche Banks Ownership Interest following Initial Public Offering of DWS shares [text block table] | Deutsche Bank’s Ownership Interest in DWS and Impact on Shareholders’ Equity in € 2018 Deutsche Bank’s ownership interest at the time of the IPO 5,991 Net decrease in Deutsche Bank’s ownership interest (1,229 ) Deutsche Bank’s share of net income or loss 239 Deutsche Bank’s share of other comprehensive income 149 Deutsche Bank’s share of other equity changes 37 Deutsche Bank’s ownership interest in DWS at the end of the reporting period 5,187 Excess amount from the IPO 73 Total effect on shareholders' equity from a change in Deutsche Bank's ownership interest in DWS, at the end of the reporting period 5,260 |
Assets and liabilities disposed [text block table] | in € m. 2018 2017 2016 Cash and cash equivalents 50 47 0 All remaining assets 4,619 848 14,858 Total assets disposed 4,669 895 14,858 Total liabilities disposed 6,035 814 12,250 |
Business Segments and Related_2
Business Segments and Related Information (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Business Segments and Related Information [Abstract] | |
Segment Results of Operations [text block table] | The following table s present the results of the Group’s business segments, including the reconciliation to the consolidated results of operations under IFRS. 2018 in € m. Corporate & Private & Asset Non-Core Corporate & Total Net revenues 1 13,046 10,158 2,186 – (73 ) 25,316 Provision for credit losses 120 406 (1 ) – 0 525 Noninterest expenses Compensation and benefits 3,970 4,001 787 – 3,055 11,814 General and administrative expenses 8,115 4,867 929 – (2,624 ) 11,286 Policyholder benefits and claims 0 0 0 – 0 0 Impairment of goodwill and other intangible assets 0 0 0 – 0 0 Restructuring activities 287 55 19 – 0 360 Total noninterest expenses 12,372 8,923 1,735 – 431 23,461 Noncontrolling interests 24 (0 ) 85 – (109 ) 0 Income (loss) before income taxes 530 829 367 – (396 ) 1,330 Cost/income ratio 95 % 88 % 79 % – N/M 93 % Assets 2 988,531 343,704 10,030 – 5,872 1,348,137 Additions to non-current assets 514 516 43 – 575 1,647 Risk-weighted assets 3 236,306 87,709 10,365 – 16,053 350,432 CRD 4 leverage exposure measure (spot value at 892,653 354,584 5,044 – 20,644 1,272,926 Average shareholders' equity 43,427 14,514 4,669 – 0 62,610 Post-tax return on average tangible shareholders’ equity 4 1 % ` 5 % 18 % – N/M 1 % Post-tax return on average shareholders’ equity 4 1 % 4 % 6 % – N/M 0 % 1 includes: Net interest income 3,574 6,077 (52 ) – 3,592 13,192 Net income (loss) from equity method investments 170 2 41 – 6 219 2 includes: Equity method investments 556 78 240 – 5 879 N/M – Not meaningful 3 Risk - weighted assets and capital ratios are based upon CRR/CRD 4 fully-loaded. 4 The post-tax return on average tangible shareholders’ equity and average shareholders’ equity at the Group level reflects the reported effective tax rate for the Group, which was 74 % for the year ended December 31, 2018. For the post-tax return on average tangible shareholders’ equity and average shareholders’ equity of the segments, the Group effective tax rate was adjusted to exclude the impact of permanent differences not attributed to the segments, so that the segment tax rates were 28 % for the year ended December 31, 2018. 2017 in € m. Corporate & Private & Asset Non-Core Corporate & Total Net revenues 1 14,227 10,178 2,532 – (489 ) 26,447 Provision for credit losses 213 313 (1 ) – (0 ) 525 Noninterest expenses Compensation and benefits 4,364 4,027 812 – 3,050 12,253 General and administrative expenses 8,441 5,012 978 – (2,458 ) 11,973 Policyholder benefits and claims 0 0 0 – 0 0 Impairment of goodwill and other intangible assets 6 12 3 – 0 21 Restructuring activities 81 360 6 – 0 447 Total noninterest expenses 12,892 9,411 1,799 – 593 24,695 Noncontrolling interests 26 (12 ) 1 – (16 ) 0 Income (loss) before income taxes 1,096 465 732 – (1,066 ) 1,228 Cost/income ratio 91 % 93 % 71 % – N/M 93 % Assets 2 1,127,028 333,069 8,050 – 6,586 1,474,732 Additions to non-current assets 125 551 60 – 1,067 1,803 Risk-weighted assets 3 231,574 87,472 8,432 – 16,734 344,212 CRD 4 leverage exposure measure (spot value at 1,029,946 344,087 2,870 – 17,983 1,394,886 Average shareholders' equity 44,197 14,943 4,687 – 99 63,926 Post-tax return on average tangible shareholders’ equity 4 2 % 2 % 56 % – N/M (1) % Post-tax return on average shareholders’ equity 4 2 % 2 % 10 % – N/M (1) % 1 includes: Net interest income 4,104 5,875 (19 ) – 2,418 12,378 Net income (loss) from equity method investments 81 3 44 – 9 137 2 includes: Equity method investments 553 91 211 – 10 866 N/M – Not meaningful 3 Risk-weighted assets and capital ratios are based upon CRR/CRD 4 fully-loaded. 4 The post-tax return on average tangible shareholders’ equity and average shareholders’ equity at the Group level reflects the reported effective tax rate for the Group, which was 160 % for the year ended December 31, 2017. For the post-tax return on average tangible shareholders’ equity and average shareholders’ equity of the segments, the Group effective tax rate was adjusted to exclude the impact of permanent differences not attributed to the segments, so that the segment tax rates were 33 % for the year ended December 31, 2017. 2016 in € m. Corporate & Private & Asset Non-Core Corporate & Total Net revenues 1 16,764 11,090 3,015 (382 ) (473 ) 30,014 Provision for credit losses 816 439 1 128 (0 ) 1,383 Noninterest expenses Compensation and benefits 4,062 4,075 737 68 2,931 11,874 General and administrative expenses 9,280 4,888 1,026 2,659 (2,398 ) 15,454 Policyholder benefits and claims 0 0 374 0 0 374 Impairment of goodwill and other intangible assets 285 0 1,021 (49 ) (0 ) 1,256 Restructuring activities 299 142 47 4 (7 ) 484 Total noninterest expenses 13,926 9,104 3,205 2,682 525 29,442 Noncontrolling interests 49 0 0 (4 ) (46 ) 0 Income (loss) before income taxes 1,973 1,547 (190 ) (3,187 ) (952 ) (810 ) Cost/income ratio 83 % 82 % 106 % N/M N/M 98 % Assets 2 1,201,894 329,869 12,300 5,523 40,959 1,590,546 Additions to non-current assets 22 480 1 0 1,517 2,019 Risk-weighted assets 3 237,596 86,082 8,960 9,174 15,706 357,518 CRD 4 leverage exposure measure (spot value at 954,203 342,424 3,126 7,882 40,018 1,347,653 Average shareholders' equity 40,312 14,371 4,460 690 2,249 62,082 Post-tax return on average tangible shareholders’ equity 4 3 % 8 % 71 % N/M N/M (3) % Post-tax return on average shareholders’ equity 4 3 % 7 % (3) % N/M N/M (2) % 1 includes: Net interest income 6,314 6,201 326 142 1,724 14,707 Net income (loss) from equity method investments 138 5 44 269 (1 ) 455 2 includes: Equity method investments 698 23 203 98 4 1,027 N/M – Not meaningful 3 Risk- weighted assets and capital ratios are based upon CRR/CRD 4 fully-loaded . 4 The post-tax return on average tangible shareholders’ equity and average shareholders’ equity at the Group level reflects the reported effective tax rate for the Group, which was (67) % for the year ended December 31, 2016. For the post-tax return on average tangible shareholders’ equity and average shareholders’ equity of the segments, the Group effective tax rate was adjusted to exclude the impact of permanent differences not attributed to the segments, so that the segment tax rates were 35 % for the year ended December 31, 2016. |
Segment Results of Operations, Corporate & Investment Bank [text block table] | Corporate & Investment Bank 2018 increase (decrease) 2017 increase (decrease) in € m. 2018 2017 2016 in € m. in % in € m. in % Net revenues Global Transaction Banking 3,834 3,917 4,419 (83 ) (2 ) (502 ) (11 ) Equity Origination 362 396 405 (34 ) (9 ) (9 ) (2 ) Debt Origination 1,081 1,327 1,393 (247 ) (19 ) (66 ) (5 ) Advisory 493 508 495 (16 ) (3 ) 13 3 Origination and Advisory 1,935 2,232 2,292 (296 ) (13 ) (60 ) (3 ) Sales & Trading (Equity) 1,957 2,233 2,751 (276 ) (12 ) (518 ) (19 ) Sales & Trading (FIC) 5,361 6,447 7,066 (1,087 ) (17 ) (619 ) (9 ) Sales & Trading 7,317 8,680 9,817 (1,363 ) (16 ) (1,137 ) (12 ) Other (40 ) (601 ) 235 561 (93 ) (836 ) N/M Total net revenues 13,046 14,227 16,764 (1,181 ) (8 ) (2,537 ) (15 ) Provision for credit losses 120 213 816 (94 ) (44 ) (603 ) (74 ) Noninterest expenses Compensation and benefits 3,970 4,364 4,062 (393 ) (9 ) 302 7 General and administrative expenses 8,115 8,441 9,280 (326 ) (4 ) (839 ) (9 ) Impairment of goodwill and other intangible assets 0 6 285 (6 ) N/M (279 ) (98 ) Restructuring activities 287 81 299 205 N/M (218 ) (73 ) Total noninterest expenses 12,372 12,892 13,926 (520 ) (4 ) (1,034 ) (7 ) Noncontrolling interests 24 26 49 (2 ) (7 ) (23 ) (46 ) Income (loss) before income taxes 530 1,096 1,973 (566 ) (52 ) (877 ) (44 ) Cost/income ratio 95 % 91 % 83 % N/M 4 ppt N/M 8 ppt Assets¹ 988,531 1,127,028 1,201,894 (138,497 ) (12 ) (74,866 ) (6 ) Risk-weighted assets² 236,306 231,574 237,596 4,733 2 (6,022 ) (3 ) Average shareholders' equity³ 43,427 44,197 40,312 (770 ) (2 ) 3,885 10 Post-tax return on average tangible shareholders’ equity 1 % 2 % 3 % N/M (1) ppt N/M (2) ppt Post-tax return on average shareholders' equity 1 % 2 % 3 % N/M (1) ppt N/M (2) ppt N/M – Not meaningful 1 Segment assets represent consolidated view, i.e. , the amounts do not include intersegment balances. 2 Risk- weighted assets and capital ratios are based upon CRR/CRD 4 fully-loaded. 3 See “Measurement of Segment Profit or Loss” above for a description of how average shareholders' equity is allocated to the divisions. |
Segment Results of Operations, Private & Commercial Bank [text block table] | Private & Commercial Bank 2018 increase (decrease) 2017 increase (decrease) in € m. 2018 2017 2016 in € m. in % in € m. in % Net revenues: Private and Commercial Business (Germany) 6,802 6,583 6,873 220 3 (290 ) (4 ) Private and Commercial Business (International) 1 1,439 1,455 1,466 (16 ) (1 ) (11 ) (1 ) Wealth Management (Global) 1,746 2,021 1,720 (274 ) (14 ) 301 18 Exited businesses 2 170 119 1,031 51 42 (912 ) (88 ) Total net revenues 10,158 10,178 11,090 (20 ) (0 ) (912 ) (8 ) Of which: Net interest income 6,077 5,875 6,201 202 3 (326 ) (5 ) Commissions and fee income 3,143 3,367 3,395 (224 ) (7 ) (28 ) (1 ) Remaining income 937 935 1,494 2 0 (558 ) (37 ) Provision for credit losses 406 313 439 93 30 (126 ) (29 ) Noninterest expenses: Compensation and benefits 4,001 4,027 4,075 (26 ) (1 ) (47 ) (1 ) General and administrative expenses 4,867 5,012 4,888 (145 ) (3 ) 124 3 Impairment of goodwill and other intangible assets 0 12 0 (12 ) N/M 12 N/M Restructuring activities 55 360 142 (305 ) (85 ) 218 154 Total noninterest expenses 8,923 9,411 9,104 (488 ) (5 ) 307 3 Noncontrolling interests (0 ) (12 ) 0 12 (100 ) (12 ) N/M Income (loss) before income taxes 829 465 1,547 363 78 (1,081 ) (70 ) Cost/income ratio 88 % 92 % 82 % N/M (5) ppt N/M 10 ppt Assets 3 343,704 333,069 329,869 10,635 3 3,200 1 Risk-weighted assets 4 87,709 87,472 86,082 237 0 1,390 2 Average shareholders' equity 5 14,514 14,943 14,371 (429 ) (3 ) 572 4 Post-tax return on average tangible shareholders’ equity 5 % 2 % 8 % N/M 2 ppt N/M (6) ppt Post-tax return on average shareholders' equity 4 % 2 % 7 % N/M 2 ppt N/M (5) ppt N/M – Not meaningful 1 Covers operations in Belgium, India, Italy and Spain . 2 Covers operations in Poland and Portugal as well as Private Client Services (PCS) and Hua Xia in historical periods . 3 Segment assets represent consolidated view, i.e. , the amounts do not include intersegment balances. 4 Risk- weighted assets and capital ratios are based upon CRR/CRD 4 fully-loaded. 5 See “Measurement of Segment Profit or Loss” above for a description of how average shareholders' equity is allocated to the divisions . |
Segment Results of Operations, Asset Management [text block table] | Asset Management 2018 increase (decrease) 2017 increase (decrease) in € m. 2018 2017 2016 in € m. in % in € m. in % Net revenues Management Fees 2,115 2,247 2,190 (132 ) (6 ) 57 3 Performance and transaction fees 91 199 220 (109 ) (55 ) (21 ) (9 ) Other revenues (20 ) 86 209 (106 ) N/M (123 ) (59 ) Mark-to-market movements on policyholder positions 0 0 396 0 N/M (396 ) N/M Total net revenues 2,186 2,532 3,015 (346 ) (14 ) (483 ) (16 ) Provision for credit losses (1 ) (1 ) 1 (0 ) 67 (1 ) N/M Noninterest expenses Compensation and benefits 787 812 737 (25 ) (3 ) 75 10 General and administrative expenses 929 978 1,026 (49 ) (5 ) (48 ) (5 ) Policyholder benefits and claims 0 0 374 (0 ) N/M (374 ) (100 ) Impairment of goodwill and other intangible assets 0 3 1,021 (3 ) N/M (1,018 ) (100 ) Restructuring activities 19 6 47 13 N/M (41 ) (88 ) Total noninterest expenses 1,735 1,799 3,205 (64 ) (4 ) (1,405 ) (44 ) Noncontrolling interests 85 1 0 83 N/M 1 N/M Income (loss) before income taxes 367 732 (190 ) (364 ) (50 ) 922 N/M Cost/income ratio 79 % 71 % 106 % N/M 8 ppt N/M (35) ppt Assets¹ 10,030 8,050 12,300 1,980 25 (4,250 ) (35 ) Risk-weighted assets² 10,365 8,432 8,960 1,932 23 (528 ) (6 ) Average shareholders' equity³ 4,669 4,687 4,460 (19 ) (0 ) 227 5 Post-tax return on average tangible shareholders’ equity 18 % 56 % 71 % N/M (38) ppt N/M (15) ppt Post-tax return on average shareholders' equity 6 % 10 % (3) % N/M (5) ppt N/M 13 ppt N/M – Not meaningful 1 Segment assets represent consolidated view, i.e. , the amounts do not include intersegment balances. 2 Risk- weighted assets and capital ratios are based upon CRR/CRD 4 fully-loaded. 3 See “Measurement of Segment Profit or Loss” above for a description of how average shareholders' equity is allocated to the divisions . |
Segment Results of Operations, Non-Core Operations Unit [text block table] | Non-Core Operations Unit 2018 increase (decrease) 2017 increase (decrease) in € m. 2018 2017 2016 in € m. in % in € m. in % Net revenues – – (382 ) 0 N/M 382 N/M thereof: Net interest income and net gains (losses) on financial – – (1,307 ) 0 N/M 1,307 N/M Provision for credit losses – – 128 0 N/M (128 ) N/M Noninterest expenses Compensation and benefits – – 68 0 N/M (68 ) N/M General and administrative expenses – – 2,659 0 N/M (2,659 ) N/M Policyholder benefits and claims – – 0 0 N/M 0 N/M Impairment of goodwill and other intangible assets – – (49 ) 0 N/M 49 N/M Restructuring activities – – 4 0 N/M (4 ) N/M Total noninterest expenses – – 2,682 0 N/M (2,682 ) N/M Noncontrolling interests – – (4 ) 0 N/M 4 N/M Income (loss) before income taxes – – (3,187 ) 0 N/M 3,187 N/M Assets¹ – – 5,523 0 N/M (5,523 ) N/M Risk-weighted assets² – – 9,174 0 N/M (9,174 ) N/M Average shareholders' equity³ – – 690 0 N/M (690 ) N/M N/M – Not meaningful 1 Segment assets represent consolidated view, i.e., the amounts do not include intersegment balances. 2 Risk-weighted assets and capital ratios are based upon CRR/CRD 4 fully-loaded. 3 See “Measurement of Segment Profit or Loss” above for a description of how average shareholders' equity is allocated to the divisions . |
Segment Results of Operations, Corporate & Other [text block table] | Co rporate & Other (C&O) 2018 increase (decrease) 2017 increase (decrease) in € m. 2018 2017 2016 in € m. in % in € m. in % Net revenues (73 ) (489 ) (473 ) 416 (85 ) (17 ) 4 Provision for credit losses 0 (0 ) (0 ) 1 N/M 0 (19 ) Noninterest expenses Compensation and benefits 3,055 3,050 2,931 5 0 119 4 General and administrative expenses (2,624 ) (2,458 ) (2,398 ) (166 ) 7 (59 ) 2 Policyholder benefits and claims 0 0 0 0 N/M 0 N/M Impairment of goodwill and other intangible assets 0 0 (0 ) 0 N/M 0 N/M Restructuring activities 0 0 (7 ) (0 ) (85 ) 7 N/M Total noninterest expenses 431 593 525 (161 ) (27 ) 67 13 Noncontrolling interests (109 ) (16 ) (46 ) (93 ) N/M 30 (65 ) Income (loss) before income taxes (396 ) (1,066 ) (952 ) 670 (63 ) (114 ) 12 Assets 1 5,872 6,586 40,959 (714 ) (11 ) (34,373 ) (84 ) Risk-weighted assets 2 16,053 16,734 15,706 (681 ) (4 ) 1,028 7 Average shareholders' equity 0 99 2,249 (99 ) N/M (2,150 ) (96 ) N/M – Not meaningful 1 Assets in C&O reflect residual Treasury assets not allocated to the business segments as well as Corporate assets, such as deferred tax assets and central clearing accounts, outside the management responsibility of the business segments. 2 Risk weighted assets are based upon CRR/CRD 4 fully-loaded. Risk-weighted assets in C&O reflect Treasury and C orporate assets outside the management responsibility of the business segments, primarily the Group’s deferred tax assets. |
Entity-Wide Disclosures by Geographic Area [text block table] | in € m. 2018 2017 2016 Germany: Corporate & Investment Bank 1,400 1,503 1,924 Private & Commercial Bank 7,342 7,225 7,571 Asset Management 985 1,009 888 Non-Core Operations Unit 0 0 221 Total Germany¹ 9,727 9,737 10,604 UK: Corporate & Investment Bank 3,338 3,818 4,298 Private & Commercial Bank 26 34 83 Asset Management 294 434 836 Non-Core Operations Unit 0 0 (322 ) Total UK 3,659 4,286 4,895 Rest of Europe, Middle East and Africa: Corporate & Investment Bank 1,124 1,268 1,545 Private & Commercial Bank 1,901 2,037 2,360 Asset Management 379 465 497 Non-Core Operations Unit 0 0 23 Total Rest of Europe, Middle East and Africa 3,404 3,770 4,425 Americas (primarily United States): Corporate & Investment Bank 4,671 4,999 5,929 Private & Commercial Bank 362 390 625 Asset Management 413 491 578 Non-Core Operations Unit 0 0 (305 ) Total Americas 5,445 5,881 6,827 Asia/Pacific: Corporate & Investment Bank 2,513 2,639 3,069 Private & Commercial Bank 526 491 451 Asset Management 114 133 216 Non-Core Operations Unit 0 0 1 Total Asia/Pacific 3,154 3,263 3,736 Corporate and Other (73 ) (489 ) (473 ) Consolidated net revenues² 25,316 26,447 30,014 1 All Postbank operations are disclosed as German operations subject to further systems integration 2 Consolidated net revenues comprise interest and similar income, interest expenses and total noninterest income (including net commission and fee income). Revenues are attributed to countries based on the location in which the Group’s booking office is located. The location of a transaction on the Group’s books is sometimes different from the location of the headquarters or other offices of a customer and different from the location of the Group’s personnel who entered into or facilitated the transaction. Where the Group records a transaction involving its staff and customers and other third parties in different locations frequently depends on other considerations, such as the nature of the transaction, regulatory considerations and transaction processing considerations. |
Net Interest Income and Net G_2
Net Interest Income and Net Gains (Losses) on Financial Assets/Liabilities at Fair Value through Profit or Loss (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Net Interest Income and Net Gains (Losses) on Financial Assets/Liabilities at Fair Value through Profit or Loss [Abstract] | |
Net Interest Income [text block table] | Net Interest Income in € m. 2018 2017 2016 Interest and similar income: 1 Interest income on cash and central bank balances 1,860 1,070 433 Interest income on interbank balances (w/o central banks) 223 245 252 Central bank funds sold and securities purchased under resale agreements 221 292 359 Interest income on financial assets available for sale N/A 1,083 1,313 Dividend income on financial assets available for sale N/A 88 205 Loans 12,992 12,004 12,311 Interest income on securities held to maturity N/A 68 67 Other 497 1,406 1,417 Total Interest and similar income from assets at amortised cost 15,793 16,256 16,357 Interest income from assets at fair value through other comprehensive income 1,014 N/A N/A Total interest and similar income not at fair value through profit or loss 16,807 16,256 16,357 Financial assets at fair value through profit or loss 7,985 7,286 8,786 Total interest and similar income 24,793 23,542 25,143 Interest expense: 1 Interest-bearing deposits 3,122 2,833 2,583 Central bank funds purchased and securities sold under repurchase agreements 379 431 255 Other short-term borrowings 139 135 179 Long-term debt 1,981 1,795 1,759 Trust preferred securities 234 413 437 Other 1,923 1,500 1,083 Total interest expense not at fair value through profit or loss 7,778 7,107 6,295 Financial liabilities at fair value through profit or loss 3,822 4,058 4,141 Total interest expense 11,601 11,164 10,436 Net interest income 13,192 12,378 14,707 1 Prior period comparatives for gross interest income and gross interest expense have been restated. The restatements did not affect net interest income. € 550 million and € 493 million for year ended December 31, 2017 and 2016 were restated . |
Net Gains (Losses) on Financial Assets/Liabilities at Fair Value through Profit or Loss [text block table] | Net Gains (Losses) on Financial Assets/Liabilities at Fair Value through Profit or Loss in € m. 2018 2017 2016 Trading income: Sales & Trading (Equity) 407 1,142 588 Sales & Trading (FIC) 2,802 4,058 3,562 Total Sales & Trading 3,209 5,200 4,150 Other trading income (3,157 ) (1,826 ) (3,603 ) Total trading income 52 3,374 547 Net gains (losses) on non-trading financial assets mandatory at fair value through profit or loss: Breakdown by financial assets category: Debt Securities (77 ) N/A N/A Equity Securities 159 N/A N/A Loans and loan commitments 77 N/A N/A Deposits 27 N/A N/A Others non-trading financial assets mandatory at fair value through profit and loss 26 N/A N/A Total net gains (losses) on non-trading financial assets mandatory at fair value through profit or loss: 212 N/A N/A Net gains (losses) on financial assets/liabilities designated at fair value through profit or loss: Breakdown by financial asset/liability category: Securities purchased/sold under resale/repurchase agreements 4 3 (3 ) Securities borrowed/loaned 0 (1 ) 1 Loans and loan commitments 7 (32 ) (109 ) Deposits 19 (30 ) (28 ) Long-term debt 1,118 (398 ) 303 Other financial assets/liabilities designated at fair value through profit or loss (79 ) 10 691 Total net gains (losses) on financial assets/liabilities designated at fair value through profit or loss 1,069 (448 ) 854 Total net gains (losses) on financial assets/liabilities at fair value through profit or loss 1,332 2,926 1,401 |
Combined Net Interest and Net Gains (Losses) on Financial Assets/Liabilities at Fair Value through Profit or Loss [text block table] | Combined Net I nterest Income and Net Gains (Losses) on Financial Assets/L iabilities at F a ir Value through Profit or Loss in € m. 2018 2017 2016 Net interest income 13,192 12,378 14,707 Trading income 1 52 3,374 547 Net gains (losses) on non-trading financial assets mandatory at fair value through profit or loss 212 N/A N/A Net gains (losses) on financial assets/liabilities designated at fair value through profit or loss 1,069 (448 ) 854 Total net gains (losses) on financial assets/liabilities at fair value through profit or loss 1,332 2,926 1,401 Total net interest income and net gains (losses) on financial assets/liabilities at fair value 14,524 15,304 16,108 Sales & Trading (Equity) 1,514 1,516 1,931 Sales & Trading (FIC) 5,027 6,351 7,161 Total Sales & Trading 6,541 7,868 9,092 Global Transaction Banking 1,869 1,932 2,097 Remaining Products (504 ) (1,148 ) (415 ) Corporate & Investment Bank 7,905 8,651 10,774 Private & Commercial Bank 6,283 6,158 6,420 Asset Management (89 ) 30 365 Non-Core Operations Unit N/A N/A (1,307 ) Corporate & Other 425 464 (144 ) Total net interest income and net gains (losses) on financial assets/liabilities at fair value 14,524 15,304 16,108 1 Trading income includes gains and losses from derivatives not qualifying for hedge accounting. |
Commission and Fee Income (Tabl
Commission and Fee Income (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Commissions and Fee Income [Abstract] | |
Commission and Fee Income and Expense [text block table] | in € m. 2018 2017 2016 Commission and fee income and expense: Commission and fee income 12,921 14,102 14,999 Commission and fee expense 2,882 3,100 3,255 Net commissions and fee income 10,039 11,002 11,744 |
Disaggregation of revenues by product type and business segment based on IFRS 15 [text block table] | Disaggregation of revenues by product type and business segment – based on IFRS 15 Dec 31,2018 in € m. Corporate & Investment Bank Private & Asset Corporate & Total Major type of services: Commissions for administration 292 257 22 (3 ) 568 Commissions for assets under management 45 261 3,131 (0 ) 3,436 Commissions for other securities 302 30 2 0 335 Underwriting and advisory fees 1,708 17 (1 ) (28 ) 1,696 Brokerage fees 1,223 933 82 0 2,238 Commissions for local payments 414 1,047 (0 ) (1 ) 1,460 Commissions for foreign commercial business 485 137 0 (1 ) 621 Commissions for foreign currency/exchange business 7 8 0 (0 ) 15 Commissions for loan processing and guarantees 690 291 0 1 981 Intermediary fees 3 478 0 12 493 Fees for sundry other customer services 730 229 117 0 1,076 Total fee and commissions income 5,898 3,688 3,352 (18 ) 12,921 Gross expense (2,882 ) Net fees and commissions 10,039 |
Net Gains (Losses) on Financi_2
Net Gains (Losses) on Financial Assets Available for Sale (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Net gains (losses) on financial assets available for sale [Abstract] | |
Net Gains (Losses) on Financial Assets Available for Sale [text block table] | in € m. 2018 2017 Net gains (losses) on financial assets available for sale: Net gains (losses) on debt securities: N/A 114 Net gains (losses) from disposal N/A 115 Impairments N/A (1 ) Net gains (losses) on equity securities: N/A 219 Net gains (losses) from disposal/remeasurement N/A 219 Impairments N/A (1 ) Net gains (losses) on loans: N/A 37 Net gains (losses) from disposal N/A 45 Impairments N/A (8 ) Reversal of impairments N/A 0 Net gains (losses) on other equity interests: N/A 110 Net gains (losses) from disposal N/A 137 Impairments N/A (27 ) Total net gains (losses) on financial assets available for sale N/A 479 |
Other Income (Tables)
Other Income (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Other Income [Abstract] | |
Other Income [text block table] | in € m. 2018 2017 2016 Other income: Net gains (losses) on disposal of loans (4 ) 19 (128 ) Insurance premiums¹ 3 4 89 Net income (loss) from hedge relationships qualifying for hedge accounting (497 ) (609 ) (370 ) Consolidated investments 0 0 362 Remaining other income² 712 112 1,100 Total other income (loss) 215 (475 ) 1,053 1 Net of reinsurance premiums paid. The development is primarily driven by Abbey Life Assurance Company Limited which has been sold in 2016 . 2 Includes net gains (losses) of € 141 million , € -81 million and € 744 million for t he years ended December 31, 2018, 2017 and 2016 , respectively, that are related to non-current assets and disposal groups held for sale. |
General and Administrative Ex_2
General and Administrative Expenses (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
General and administrative expenses [Abstract] | |
General and Administrative Expenses [text block table] | in € m. 2018 2017 General and administrative expenses: IT costs 1 3,822 3,816 Regulatory, Tax & Insurance 2,3 1,545 1,489 Occupancy, furniture and equipment expenses 1,723 1,849 Professional service fees 1 1,530 1,750 Banking and transaction charges 753 744 Communication and data services 636 686 Travel and representation expenses 347 405 Marketing expenses 278 309 Consolidated investments 0 0 Other expenses 4 652 925 Total general and administrative expenses 11,286 11,973 |
Restructuring (Tables)
Restructuring (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Restructuring [Abstract] | |
Net Restructuring Expense by Division [text block table] | in € m. 2018 2017 2016 Corporate & Investment Bank 287 81 292 Private & Commercial Bank 55 360 141 Asset Management 19 6 47 Non-Core Operations Unit – – 4 Total Net Restructuring Charges 360 447 484 |
Net Restructuring by Type [text block table] | in € m. 2018 2017 2016 Restructuring – Staff related 367 430 491 thereof: Termination Benefits 248 402 432 Retention Acceleration 113 26 54 Social Security 6 2 5 Restructuring – Non Staff related (6 ) 17 (7 ) Total Net Restructuring Charges 360 447 484 |
Organizational Changes [text block table] | Full-time equivalent staff 2018 2017 2016 Corporate & Investment Bank 1,002 502 356 Private & Commercial Bank 767 1,054 453 Asset Management 92 38 101 Infrastructure/Regional Management 1,138 451 541 Total full-time equivalent staff 3,000 2,045 1,451 |
Earnings per Share (Tables)
Earnings per Share (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Earnings per share [Abstract] | |
Computation of basic and diluted earnings per share [text block table] | Computation of basic and diluted earnings per share in € m. 2018 2017 2016 Net income (loss) attributable to Deutsche Bank shareholders – 267 (1,049 ) (1,678 ) Effect of dilutive securities: Forwards and options 0 0 0 Convertible debt 0 0 0 Net income (loss) attributable to Deutsche Bank shareholders after assumed 267 (1,049 ) (1,678 ) Number of shares in million Weighted-average shares outstanding – denominator for basic earnings per share 2,102.2 1,967.7 1,555.3 Effect of dilutive securities: Forwards 0.0 0.0 0.0 Employee stock compensation options 0.0 0.0 0.0 Deferred shares 0.0 0.0 0.0 Other (including trading options) 0.0 0.0 0.0 Dilutive potential common shares 0.0 0.0 0.0 Adjusted weighted-average shares after assumed conversions – 2,102.2 1,967.7 1,555.3 1 Earnings were adjusted by € 292 million and € 298 million and € 276 million net of tax for the coupons paid on Additional Tier 1 Notes in April 2018, April 2017 and April 2016. |
Earnings per share [text block table] | Earnings per share in € 2018 2017 2016 Basic earnings per share (0.01 ) (0.53 ) (1.08 ) Diluted earnings per share (0.01 ) (0.53 ) (1.08 ) |
Instruments outstanding and not included in the calculation of diluted earnings per share [text block table] | Instruments outstanding and not included in the calculation of diluted earnings per share 1 Number of shares in m. 2018 2017 2016 Call options sold 0.0 0.0 0.0 Employee stock compensation options 0.0 0.0 0.0 Deferred shares 108.8 104.4 69.6 1 Not included in the calculation of diluted earnings per share, because to do so would have been anti-dilutive. |
Financial Assets_Liabilities _2
Financial Assets/Liabilities at Fair Value through Profit or Loss (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Financial Assets/Liabilities at Fair Value through Profit or Loss [Abstract] | |
Financial Assets at Fair Value through Profit and Loss [text block table] | in € m. Dec 31, 2018 Trading Financial assets: Trading assets: Trading securities 140,720 Other trading assets 1 12,017 Total trading assets 152,738 Positive market values from derivative financial instruments 320,058 Total Trading Financial assets 472,796 Non-trading financial assets mandatory at fair value through profit or loss: Securities purchased under resale agreements 44,543 Securities borrowed 24,210 Loans 12,741 Other financial assets mandatory at fair value through profit or loss 18,951 Total Non-trading financial assets mandatory at fair value through profit or loss 100,444 Financial assets designated at fair value through profit or loss: Securities purchased under resale agreements 0 Securities borrowed 0 Loans 0 Other financial assets designated at fair value through profit or loss 104 Total financial assets designated at fair value through profit or loss 104 Total financial assets at fair value through profit or loss 573,344 |
Financial Liabilities at Fair Value through Profit and Loss [text block table] | in € m. Dec 31, 2018 Dec 31, 2017 Financial liabilities classified as held for trading: Trading liabilities: Trading securities 59,629 71,148 Other trading liabilities 295 314 Total trading liabilities 59,924 71,462 Negative market values from derivative financial instruments 301,487 342,726 Total financial liabilities classified as held for trading 361,411 414,189 Financial liabilities designated at fair value through profit or loss: Securities sold under repurchase agreements 46,254 53,840 Loan commitments 0 8 Long-term debt 5,607 6,439 Other financial liabilities designated at fair value through profit or loss 1,895 3,587 Total financial liabilities designated at fair value through profit or loss 53,757 63,874 Investment contract liabilities 512 574 Total financial liabilities at fair value through profit or loss 415,680 478,636 |
Changes in fair value of financial assets attributable to movements in counterparty credit risk [text block table] | Changes in fair value of f inancial a ssets attributable to movements in counterparty credit risk in € Dec 31, 2018 Dec 31, 2017 Notional value of financial assets exposed to credit risk 0 N/A Annual change in the fair value reflected in the Statement of Income 0 N/A Cumulative change in the fair value 0 N/A Notional of credit derivatives used to mitigate credit risk 0 N/A Annual change in the fair value reflected in the Statement of Income 0 N/A Cumulative change in the fair value 0 N/A |
Changes in fair value of loans and loan commitments attributable to movements in counterparty credit risk [text block table] | Changes in fair value of loans 1 and loan commitments attributable to movements in counterparty credit risk 2 Dec 31, 2018 Dec 31, 2017 in € m. Loans Loan Loans Loan Notional value of loans and loan commitments exposed to credit risk N/A N/A 2,865 1,973 Annual change in the fair value reflected in the Statement of Income N/A N/A 7 14 Cumulative change in the fair value³ N/A N/A 10 30 Notional of credit derivatives used to mitigate credit risk N/A N/A 536 4,728 Annual change in the fair value reflected in the Statement of Income N/A N/A (0 ) (42 ) Cumulative change in the fair value³ N/A N/A 1 (46 ) 1 Where the loans are over-collateralized there is no material movement in valuation during the year or cumulatively due to movements in counterparty credit risk. 2 D etermined using valuation models that exclude the fair value impact associated with market risk. 3 Changes are attributable to loans and loan commitments held at reporting date, which may differ from those held in prior periods. No adjustments are made to prior year to reflect differences in the underlying population. |
Changes in fair value of financial liabilities attributable to movements in the Groups credit risk [text block table] | Changes in fair value of financial liabilities attributable to movements in the Group’s credit risk 1 in € m. Dec 31, 2018 Dec 31, 2017² Presented in Other comprehensive Income Cumulative change in the fair value (49 ) N/A Presented in Statement of income Annual change in the fair value reflected in the Statement of Income 0 60 Cumulative change in the fair value 0 72 1 The fair value of a financial liability incorporates the credit risk of that financial liability. Changes in the fair value of financial liabilities issued b y consolidated structured entities have been excluded as this is not related to the Group’s credit risk but to that of the legally isolated structured entity, which is dependent on the collateral it holds. |
Transfers of the cumulative gains or losses within equity during the period [text block table] | Transfers of the cumulative gains or losses within equity during the period in € m. Dec 31, 2018 Dec 31, 2017 Cumulative gains or losses within equity during the period 0 N/A |
Amounts realized on derecognition of liabilities designated at FVtPL [text block table] | Amounts realized on derecognition of l iabilities designated at fair value through profit or loss in € m. Dec 31, 2018 Dec 31, 2017 Amount presented in other comprehensive income realized at derecognition (3 ) N/A |
Excess of the Contractual Amount Repayable at Maturity over the Carrying Value of Financial Liabilities [text block table] | The excess of the contractual amount repayable at maturity over the carrying value of financial liabilities 1 in € m. Dec 31, 2018 Dec 31, 2017 Including undrawn loan commitments² 2,545 6,088 Excluding undrawn loan commitments 2,536 2,073 1 Assuming the liability is extinguished at the earliest contractual maturity that the Group can be required to repay. When the amount payable is not fixed, it is determined by reference to conditions existing at the reporting date. 2 The contractual cash flows at maturity for undrawn loan commitments assume full drawdown of the facility. |
Financial Instruments carried_2
Financial Instruments carried at Fair Value (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Financial Instruments carried at Fair Value [Abstract] | |
Carrying Value of The Financial Instruments held at Fair Value [text block table] | Carrying value of the financial instruments held at fair value 1 Dec 31, 2018 Dec 31, 2017 in € m. Quoted Valuation Valuation Quoted Valuation Valuation Financial assets held at fair value: Trading assets 75,415 67,560 9,763 106,075 69,543 9,043 Trading securities 75,210 61,424 4,086 105,792 62,770 4,634 Other trading assets 205 6,136 5,676 283 6,773 4,409 Positive market values from derivative financial instruments 10,140 301,609 8,309 12,280 341,413 7,340 Non-trading financial assets mandatory at fair value through profit or loss 8,288 86,090 6,066 N/A N/A N/A Financial assets designated at fair value through profit or loss 104 0 0 6,547 83,242 1,488 Financial assets at fair value through other comprehensive income 32,517 18,397 268 N/A N/A N/A Financial assets available for sale N/A N/A N/A 29,579 15,713 4,104 Other financial assets at fair value 42 2,779 2 207 0 3,258 2 47 Total financial assets held at fair value 126,505 476,435 24,614 154,480 513,169 22,022 Financial liabilities held at fair value: Trading liabilities 42,548 17,361 15 53,644 17,817 2 Trading securities 42,547 17,082 0 53,644 17,503 2 Other trading liabilities 1 279 15 0 314 0 Negative market values from derivative financial instruments 9,638 285,561 6,289 9,163 327,572 5,992 Financial liabilities designated at fair value through profit or loss 119 51,617 2,021 4 62,426 1,444 Investment contract liabilities 0 512 0 0 574 0 Other financial liabilities at fair value 201 2,658 2 (611 ) 3 0 2,559 2,4 (298 ) 3 Total financial liabilities held at fair value 52,505 357,709 7,714 62,810 410,948 7,139 1 Amounts in this table are generally presented on a gross basis, in line with the Group’s accounting policy regarding offsetting of financial instruments, as described in Note 1 “Significant Accounting Policies and Critical Accounting Estimates”. 2 Predominantly relates to derivatives qualifying for hedge accounting. 3 Relates to d erivatives which are embedded in contracts where the host contract is held at amortized cost but for which the embedded derivative is separated. The separated embedded derivatives may have a positive or a negative fair value but have been presented in this table to be consistent with the classification of the host contract. The separated embedded derivatives are held at fair value on a recurring basis and have been split between the fair value hierarchy classifications . 4 Restatement undertaken represents pure reclass from Note 14 “Fair Value of Financial Instruments not carried at Fair Value” to Note 13 “Financial Instruments carried at Fair Value”- no change in amounts. Amounts are carried at fair value. |
Reconciliation of Financial Instruments Categorized in Level 3 [text block table] | Reconciliation of financial instruments classified in Level 3 Dec 31, 2018 in € m. Balance, Changes Total 1 Purchases Sales Issu- 2 Settle- 3 Transfers 4 Transfers 4 Balance, Financial assets held at Trading securities 4,148 6 105 2,146 (1,908 ) 0 (481 ) 897 (826 ) 4,086 Positive market values 7,340 0 718 0 0 0 (137 ) 1,940 (1,551 ) 8,309 Other trading assets 4,426 0 233 981 (2,027 ) 3,055 (1,241 ) 506 (257 ) 5,676 Non-trading financial assets mandatory at fair value through profit or loss 4,573 3 426 3,627 (567 ) 1,013 (3,128 ) 411 (292 ) 6,066 Financial assets designated at fair value through profit or loss 91 0 4 0 0 0 (22 ) 0 (72 ) 0 Financial assets at fair value through other comprehensive income 231 3 (4 ) 260 (162 ) 0 (6 ) 2 (55 ) 268 Other financial assets at 47 0 0 0 0 0 0 207 (47 ) 207 Total financial assets held 20,855 8 12 1,481 6,7 7,014 (4,664 ) 4,068 (5,015 ) 3,963 (3,100 ) 24,614 Financial liabilities held Trading securities 2 0 (1 ) 0 0 0 0 0 (1 ) 0 Negative market values 5,992 0 531 0 0 0 (522 ) 1,319 (1,031 ) 6,289 Other trading liabilities 0 0 (1 ) 0 0 0 16 0 0 15 Financial liabilities 1,444 0 (121 ) 0 0 692 (270 ) 408 (134 ) 2,021 Other financial liabilities (298 ) 0 (299 ) 0 0 0 38 (29 ) (23 ) (611 ) Total financial liabilities 7,139 0 110 6,7 0 0 692 (738 ) 1,699 (1,189 ) 7,714 1 Total gains and losses predominantly relate to net gains (losses) on financial assets/liabilities at fair value through profit or loss reported in the consolidated statement of income. The balance also includes net gains (losses) on financial assets available for sale reported in the consolidated statement of income and unrealized net gains (losses) on financial assets available for sale and exchange rate changes reported in other comprehensive income, net of tax. Further, certain instruments are hedged with instruments in Level 1 or Level 2 but the table above does not include the gains and losses on these hedging instruments. Additionally, both observable and unobservable parameters may be used to determine the fair value of an instrument classified within Level 3 of the fair value hierarchy; the gains and losses presented below are attributable to movements in both the observable and unobservable parameters. 2 Issuances relate to the cash amount received on the issuance of a liability and the cash amount paid on the primary issuance of a loan to a borrower. 3 Settlements represent cash flows to settle the asset or liability. For debt and loan instruments this includes principal on maturity, principal amortizations and principal repayments. For derivatives all cash flows are presented in settlements. 4 Transfers in and transfers out of Level 3 are related to changes in observability of input parameters. During the year they are recorded at their fair value at the beginning of year. For instruments transferred into Level 3 the table shows the gains and losses and cash flows on the instruments as if they had been transferred at the beginning of the year. Similarly for instruments trans ferred out of Level 3 the table does not show any gains or losses or cash flows on the instruments during the year since the table is presented as if they have been transferred out at the beginning of the year. 5 Total gains and losses on financial assets at fair value through other comprehensive income include a loss of € 8 million recognized in other comprehensive income, net of tax, and a loss of € 4 million r ecognized in the income statement presented in net gains (losses) . 6 This amount includes the effect of exchange rate changes. For total financial assets held at fair value this effect is a gain of € 136 million and for total financial liabilities held at fair value this is a loss of € 33 million . The effect of exchange rate changes is reported in other comprehensive income, net of tax. 7 For assets positive balances represent gains, negative balances represent losses. For liabilities positive balances represent losses, negative balances represent gains . 8 Opening balances have been restated due to reassessment of trades due to IFRS 9. Dec 31, 2017 in € m. Balance, Changes Total 1 Purchases Sales Issu- 2 Settle- 3 Transfers 4 Transfers 4 Balance, Financial assets held at Trading securities 5,012 (1 ) (153 ) 2,144 (1,660 ) 0 (818 ) 772 (662 ) 4,634 Positive market values 9,798 0 (610 ) 0 0 0 (1,889 ) 2,298 (2,257 ) 7,340 Other trading assets 5,674 (7 ) (283 ) 2,095 (2,328 ) 636 (1,803 ) 950 (524 ) 4,409 Financial assets designated at fair value through profit or loss 1,601 0 (78 ) 807 (118 ) 63 (710 ) 58 (134 ) 1,488 Financial assets available 4,153 (40 ) 205 5 722 (249 ) 0 (1,206 ) 539 (21 ) 4,104 Other financial assets at 33 0 33 0 0 0 (26 ) 7 0 47 Total financial assets held 26,271 (47 ) (886 ) 6,7 5,768 (4,356 ) 699 (6,453 ) 4,624 (3,598 ) 22,022 Financial liabilities held at Trading securities 52 0 (6 ) 0 0 0 (46 ) 1 0 2 Negative market values 8,857 (5 ) (64 ) 0 0 0 (1,827 ) 924 (1,892 ) 5,992 Other trading liabilities 0 0 0 0 0 0 0 0 0 0 Financial liabilities 2,229 (7 ) (128 ) 0 0 146 (564 ) 154 (387 ) 1,444 Other financial liabilities (848 ) 0 268 0 0 0 286 (18 ) 15 (298 ) Total financial liabilities 10,290 (12 ) 69 6,7 0 0 146 (2,151 ) 1,061 (2,265 ) 7,139 1 Total gains and losses predominantly relate to net gains (losses) on financial assets/liabilities at fair value through profit or loss reported in the consolidated statement of income. The balance also includes net gains (losses) on financial assets available for sale reported in the consolidated statement of income and unrealized net gains (losses) on financial assets available for sale and exchange rate changes reported in other comprehensive income, net of tax. Further, certain instruments are hedged with instruments in Level 1 or Level 2 but the table above does not include the gains and losses on these hedging instruments. Additionally, both observable and unobservable parameters may be used to determine the fair value of an instrument classified within Level 3 of the fair value hierarchy; the gains and losses presented below are attributable to movements in both the observable and unobservable parameters. 2 Issuances relate to the cash amount received on the issuance of a liability and the cash amount paid on the primary issuance of a loan to a borrower. 3 Settlements represent cash flows to settle the asset or liability. For debt and loan instruments this includes principal on maturity, principal amortizations and principal repayments. For derivatives all cash flows are presented in settlements. 4 Transfers in and transfers out of L evel 3 are related to changes in observability of input parameters. During the year they are recorded at their fair value at the beginning of year. Fo r instruments transferred into L evel 3 the table shows the gains and losses and cash flows on the instruments as if they had been transferred at the beginning of the year. Similarly for i nstruments transferred out of L evel 3 the table does not show any gains or losses or cash flows on the instruments during the year since the table is presented as if they have been transferred out at the beginning of the year. 5 Total gains and losses on available for sale include a gain of € 94 million recognized in other comprehensive income, net of tax, and a loss of € 8 million recognized in the income statement presented in net gains (losses) on financial assets available for sale. 6 This amount includes the effect of exchange rate changes. For total financial assets held at fair value this effect is a loss of € 565 million and for total financial liabilities held at fair value this is a gain of € 123 million . The effect of exchange rate changes is reported in other comprehensive income, net of tax. 7 For assets positive balances represent gains, negative balances represent losses. For liabilities positive balances represent losses, negative balances represent gains . |
Sensitivity Analysis by Type of Instrument [text block table] | Breakdown of the sensitivity analysis by type of instrument 1 Dec 31, 2018 Dec 31, 2017 in € m. Positive fair value Negative fair value Positive fair value Negative fair value Securities: Debt securities 179 118 126 90 Commercial mortgage-backed securities 5 4 6 6 Mortgage and other asset-backed securities 38 37 26 28 Corporate, sovereign and other debt securities 136 77 94 56 Equity securities 84 67 95 67 Derivatives: Credit 151 116 155 125 Equity 257 207 164 138 Interest related 346 206 340 173 Foreign Exchange 49 26 65 12 Other 106 89 106 73 Loans: Loans 475 219 504 320 Other 0 0 0 0 Total 1,647 1,046 1,556 999 1 Where the exposure to an unobservable parameter is offset across different instruments then only the net impact is disclosed in the table. |
Quantitative Information about Fair Value (Level 3) [text block table] | F inancial instruments classified in Level 3 and quantitative information about unobservable inputs Dec 31, 2018 Fair value in € m. Assets Liabilities Valuation technique(s)¹ Significant unobservable Range Financial instruments held at fair value – Mortgage and other asset backed Commercial mortgage-backed 66 0 Price based Price 0 % 120 % Discounted cash flow Credit spread (bps) 97 1,444 Mortgage- and other asset-backed 745 0 Price based Price 0 % 102 % Discounted cash flow Credit spread (bps) 26 2,203 Recovery rate 0 % 90 % Constant default rate 0 % 16 % Constant prepayment rate 0 % 42 % Total mortgage- and other asset-backed 811 0 Debt securities and other 3,876 1,764 Price based Price 0 % 148 % Held for trading 3,037 0 Discounted cash flow Credit spread (bps) 5 582 Corporate, sovereign and 3,037 Non-trading financial assets mandatory at fair value through profit or loss 726 Designated at fair value through profit or loss 0 1,764 Financial assets at fair value through other comprehensive income 114 Equity securities 1,244 0 Market approach Price per net asset value 70 % 100 % Held for trading 239 0 Enterprise value/EBITDA 6 17 Non-trading financial assets mandatory at fair value through profit or loss 1,005 Discounted cash flow Weighted average cost capital 7 % 20 % Loans 7,167 15 Price based Price 0 % 341 % Held for trading 5,651 15 Discounted cash flow Credit spread (bps) 40 930 Non-trading financial assets mandatory at fair value through profit or loss 1,362 Constant default rate 0 0 Designated at fair value through profit or loss 0 0 Recovery rate 35 % 40 % Financial assets at fair value through other comprehensive income 154 Loan commitments 0 0 Discounted cash flow Credit spread (bps) 30 2,864 Recovery rate 25 % 75 % Loan pricing model Utilization 0 % 100 % Other financial instruments 2,999 2 257 3 Discounted cash flow IRR 3 % 46 % Repo rate (bps) 65 387 Total non-derivative financial 16,097 2,037 1 Valuation technique(s) and subsequently the significant unobservable input(s) relate to the respective total position. 2 Other financial assets include € 26 million of other trading assets and € 3.0 billion of other financial assets mandatory at fair value. 3 Other financial liabilities include € 185 million of securities sold under repurchase agreements designated at fair value and € 72 million of other financial liabilities designated at fair value. Dec 31, 2018 Fair value in € m. Assets Liabilities Valuation technique(s) Significant unobservable Range Financial instruments held at fair value: Market values from derivative Interest rate derivatives 4,264 2,568 Discounted cash flow Swap rate (bps) (124 ) 2,316 Inflation swap rate 1 % 6 % Constant default rate 0 % 35 % Constant prepayment rate 2 % 43 % Option pricing model Inflation volatility 0 % 5 % Interest rate volatility 0 % 31 % IR - IR correlation (30) % 90 % Hybrid correlation (59) % 75 % Credit derivatives 638 964 Discounted cash flow Credit spread (bps) 0 1,541 Recovery rate 0 % 80 % Correlation pricing Credit correlation 25 % 85 % Equity derivatives 1,583 1,498 Option pricing model Stock volatility 4 % 96 % Index volatility 11 % 79 % Index - index correlation 1 1 Stock - stock correlation 2 % 89 % Stock Forwards 0 % 63 % Index Forwards 0 % 5 % FX derivatives 1,034 1,005 Option pricing model Volatility (6) % 34 % Other derivatives 997 (357 ) 1 Discounted cash flow Credit spread (bps) – – Option pricing model Index volatility 5 % 92 % Commodity correlation 0 % 0 % Total market values from derivative 8,516 5,677 1 Includes derivatives which are embedded in contracts where the host contract is held at amortized cost but for which the embedded derivative is separated. Dec 31, 2017 Fair value in € m. Assets Liabilities Valuation technique(s)¹ Significant unobservable Range Financial instruments held at fair value – Mortgage and other asset backed Commercial mortgage-backed 79 0 Price based Price 0 % 102 % Discounted cash flow Credit spread (bps) 136 2,217 Mortgage- and other asset-backed 714 0 Price based Price 0 % 102 % Discounted cash flow Credit spread (bps) 12 2,000 Recovery rate 0 % 90 % Constant default rate 0 % 25 % Constant prepayment rate 0 % 29 % Total mortgage- and other asset-backed 793 0 Debt securities and other debt 3,870 1,307 Price based Price 0 % 176 % Held for trading 3,559 2 Discounted cash flow Credit spread (bps) 34 500 Corporate, sovereign and other 3,559 Designated at fair value through profit or loss 44 1,305 Available-for-sale 267 Equity securities 913 0 Market approach Price per net asset value 60 % 100 % Held for trading 282 0 Enterprise value/EBITDA 1 14 Designated at fair value through profit or loss 151 Discounted cash flow Weighted average cost capital 8 % 20 % Available-for-sale 480 Loans 7,397 0 Price based Price 0 % 161 % Held for trading 4,376 0 Discounted cash flow Credit spread (bps) 190 1,578 Designated at fair value through profit or loss 338 0 Constant default rate – – Available-for-sale 2,684 Recovery rate 40 % 40 % Loan commitments 0 8 Discounted cash flow Credit spread (bps) 5 261 Recovery rate 37 % 75 % Loan pricing model Utilization 0 % 100 % Other financial instruments 1,710 2 131 3 Discounted cash flow IRR 1 % 24 % Repo rate (bps) 224 254 Total non-derivative financial 14,683 1,446 1 Valuation technique(s) and subsequently the significant unobservable input(s) relate to the respective total position. 2 Other financial assets includ e € 34 million of other trading assets, € 956 million of other financial assets designated at fair value and € 674 million other financial assets available for sale. 3 Other financial liabilities include € 131 million of securities sold under repurchase agreements designated at fair value. Dec 31, 2017 Fair value in € m. Assets Liabilities Valuation technique(s) Significant unobservable Range Financial instruments held at fair value: Market values from derivative Interest rate derivatives 4,466 2,250 Discounted cash flow Swap rate (bps) (72 ) 1,036 Inflation swap rate (3) % 11 % Constant default rate 0 % 16 % Constant prepayment rate 2 % 38 % Option pricing model Inflation volatility 0 % 5 % Interest rate volatility 0 % 103 % IR - IR correlation (25) % 100 % Hybrid correlation (85) % 90 % Credit derivatives 630 909 Discounted cash flow Credit spread (bps) 0 17,957 Recovery rate 0 % 94 % Correlation pricing Credit correlation 37 % 90 % Equity derivatives 728 1,347 Option pricing model Stock volatility 6 % 90 % Index volatility 7 % 53 % Index - index correlation – – Stock - stock correlation 2 % 93 % Stock Forwards 0 % 7 % Index Forwards 0 % 95 % FX derivatives 1,113 1,058 Option pricing model Volatility (6) % 31 % Other derivatives 402 129 1 Discounted cash flow Credit spread (bps) – – Option pricing model Index volatility 0 % 79 % Commodity correlation 10 % 75 % Total market values from derivative 7,340 5,693 1 Includes derivatives which are embedded in contracts where the host contract is held at amortized cost but for which the embedded derivative is separated. |
Unrealized Gains or Losses on Level 3 Instruments held or in Issue at the Reporting Date [text block table] | in € m. Dec 31, 2018 Dec 31, 2017 Financial assets held at fair value: Trading securities 46 (15 ) Positive market values from derivative financial instruments 1,152 171 Other trading assets 136 55 Non-trading financial assets mandatory at fair value through profit or loss 354 N/A Financial assets designated at fair value through profit or loss 0 2 Financial assets at fair value through other comprehensive income 2 N/A Financial assets available for sale N/A 123 Other financial assets at fair value 2 33 Total financial assets held at fair value 1,692 368 Financial liabilities held at fair value: Trading securities 0 3 Negative market values from derivative financial instruments (849 ) (740 ) Other trading liabilities 0 0 Financial liabilities designated at fair value through profit or loss 124 4 Other financial liabilities at fair value 294 (249 ) Total financial liabilities held at fair value (431 ) (981 ) Total 1,261 (613 ) |
Recognitions of Trade Date Profit [text block table] | in € m. 2018 2017 Balance, beginning of year 596 1 916 New trades during the period 226 277 Amortization (126 ) (282 ) Matured trades (126 ) (140 ) Subsequent move to observability (42 ) (71 ) Exchange rate changes 2 (11 ) Balance, end of year 531 690 1 Opening balances have been restated due to reassessment of trades due to IFRS 9. |
Fair Value of Financial Instr_2
Fair Value of Financial Instruments not carried at Fair Value (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Fair Value of Financial Instruments not carried at Fair Value [Abstract] | |
Estimated Fair Value of the Financial Instruments not carried at Fair Value [text block table] | E stimated fair value of financial instruments not carried at fair value on the balance sheet 1 Dec 31, 2018 in € m. Carrying value Fair value Quoted Valuation Valuation Financial assets: Cash and central bank balances 188,731 188,731 188,731 0 0 Interbank balances (w/o central banks) 8,881 8,881 78 8,804 0 Central bank funds sold and securities 8,222 8,223 0 8,223 0 Securities borrowed 3,396 3,396 0 3,396 0 Loans 400,297 395,900 0 10,870 385,029 Securities held to maturity 0 0 0 0 0 Other financial assets 80,089 80,193 850 79,343 1 Financial liabilities: Deposits 564,405 564,637 516 563,850 272 Central bank funds purchased and securities 4,867 4,867 0 4,867 0 Securities loaned 3,359 3,359 0 3,359 0 Other short-term borrowings 14,158 14,159 0 14,159 0 Other financial liabilities 100,683 100,683 1,816 98,866 1 Long-term debt 152,083 149,128 0 140,961 8,167 Trust preferred securities 3,168 3,114 0 3,114 0 Dec 31, 2017 in € m. Carrying value Fair value Quoted Valuation Valuation Financial assets: Cash and central bank balances 225,655 225,655 225,655 0 0 Interbank balances (w/o central banks) 9,265 9,265 76 9,189 0 Central bank funds sold and securities 9,971 9,973 0 9,973 0 Securities borrowed 16,732 16,732 0 16,732 0 Loans 401,699 403,842 0 24,643 379,199 Securities held to maturity 3,170 3,238 3,238 0 0 Other financial assets 88,936 88,939 0 88,939 0 Financial liabilities: Deposits 580,812 580,945 2,108 578,837 (0 ) Central bank funds purchased and securities 18,105 18,103 0 18,103 0 Securities loaned 6,688 6,688 0 6,688 0 Other short-term borrowings 18,411 18,412 0 18,412 0 Other financial liabilities 116,101 116,101 1,875 114,226 0 Long-term debt 159,715 161,829 0 152,838 8,991 Trust preferred securities 5,491 5,920 0 5,920 0 1 Amounts generally presented on a gross basis, in line with the Group’s accounting policy regarding offsetting of financial instruments as described in 2 Restatement undertaken represents pure reclass from Note 14 “Fair Value of Financial Instruments not carried at Fair Value” to Note 13 “Financial Instruments carried at Fair Value” . |
Financial Assets Available fo_2
Financial Assets Available for Sale (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Financial Assets Available for Sale [Abstract] | |
Financial Assets Available for Sale [text block table] | in € m. Dec 31, 2018 Debt securities: German government N/A U.S. Treasury and U.S. government agencies N/A U.S. local (municipal) governments N/A Other foreign governments N/A Corporates N/A Other asset-backed securities N/A Mortgage-backed securities, including obligations of U.S. federal agencies N/A Other debt securities N/A Total debt securities N/A Equity securities: Equity shares N/A Investment certificates and mutual funds N/A Total equity securities N/A Other equity interests N/A Loans N/A Total financial assets available for sale N/A |
Financial assets at fair valu_2
Financial assets at fair value through other comprehensive income (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Financial assets at fair value through OCI [Abstract] | |
Financial assets at fair value through other comprehensive income [text block table] | in € m. Dec 31, 2018 Dec 31, 2017 Securities purchased under resale agreement 1,097 N/A Debt securities: German government 7,705 N/A U.S. Treasury and U.S. government agencies 13,118 N/A U.S. local (municipal) governments 101 N/A Other foreign governments 18,152 N/A Corporates 5,606 N/A Other asset-backed securities 27 N/A Mortgage-backed securities, including obligations of U.S. federal agencies 103 N/A Other debt securities 181 N/A Total debt securities 44,993 N/A Loans 5,092 N/A Total financial assets at fair value through other comprehensive income 51,182 N/A |
Financial Instruments Held to_2
Financial Instruments Held to Maturity (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Financial Instruments Held to Maturity [Abstract] | |
Financial Instruments Held to Maturity [text block table] | Carrying values and fair values of financial assets reclassified from Available for Sale to Held to Maturity Dec 31, 2018 Dec 31, 2017 in € m. Carrying Fair Carrying Fair Debt securities reclassified: G7 Government bonds N/A N/A 423 434 Other Government, supranational and agency bonds N/A N/A 2,747 2,804 Total financial assets reclassified to Held-to-Maturity N/A N/A 3,170 3,238 |
Equity Method Investments (Tabl
Equity Method Investments (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Equity Method Investments [Abstract] | |
Summarised financial information on Huarong Rongde Asset Management Company Ltd [text block table] | Summari z ed financial information on Huarong Rongd e Asset Management Company Limited 1 in € m. Dec 31, 2017 Dec 31, 2016 Total net revenues 197 193 Net income 157 146 Other comprehensive income (19) (2) Total comprehensive income 2 138 143 in € m. Dec 31, 2017 Dec 31, 2016 Total assets 7,058 5,243 Total liabilities 5,579 4,052 Noncontrolling Interest 739 534 Net assets of the equity method investee 740 657 1 Due to the difference in reporting timelines for the Group and Huarong Rongde Asset Management Company Limited Equity method accounting was performed for December 2018 based on December 2017 PRC GAAP audited financials and for December 2017 based on December 2016 PRC GAAP audited financials. 2 The Group received dividends from Huarong Rongde Asset Management Company Limited of € 17 million during the reporting period 2018 (2017: € 23 million ) |
Reconciliation of total net assets of Huarong Rongde Asset Management Company Ltd to the Groups carrying amount [text block table] | Reconciliation of total net assets of Huarong Ron gde Asset Management Company Limited to the Group’s carrying amount 1 in € m. Dec 31, 2017 Dec 31, 2016 Net assets of the equity method investee 740 657 Group's ownership percentage on the investee's equity 40.7 % 40.7 % Group's share of net assets 301 268 Goodwill 0 0 Intangible Assets 0 0 Other adjustments (17 ) (22 ) Carrying amount 2 284 246 1 Due to the difference in reporting timelines for the Group and Huarong Rongde Asset Management Company Limited Equity method accounting was performed for December 2018 based on December 2017 PRC GAAP audited financials and for December 2017 based on December 2016 PRC GAAP audited financials. 2 There is no impairment loss in 2018 and 2017 |
Summarised financial information on Harvest Fund Management Co., LTD [text block table] | Summari z ed financial information on Harvest Fund Management Co., Ltd. in € m. Dec 31, 2018 1 Dec 31, 2017 2 Total net revenues 597 537 Net income 162 152 Other comprehensive income 1 (1) Total comprehensive income 3 163 150 in € m. Dec 31, 2018 Dec 31, 2017 Total assets 1,123 1,448 Total liabilities 398 853 Noncontrolling Interest 45 24 Net assets of the equity method investee 681 571 1 December 2018 numbers are based on 2018 unaudited financials 2 December 2017 numbers are based on 2017 audited financials 3 The Group received dividends from Harvest Fund Management Co., Ltd. of € 12 million during the reporting period 2018 (2017: € 7 million ) |
Reconciliation of total net assets of Harvest Fund Management Co., LTD to the Groups carrying amount [text block table] | Reconciliation of total net assets of Harvest Fund Management Co., Ltd. to the Group’s carrying amount in € m. Dec 31, 2018 1 Dec 31, 2017 2 Net assets of the equity method investee 681 571 Group's ownership percentage on the investee's equity 30 % 30 % Group's share of net assets 204 171 Goodwill 17 16 Intangible Assets 14 14 Other adjustments 1 4 Carrying amount 3 236 205 1 December 2018 numbers are based on 2018 unaudited financials 2 December 2017 numbers are based on 2017 audited financials 3 There is no impairment loss in 2018 ( € 1 million in 2017) |
Information on the Groups Share in Associates and Joint Ventures individually immaterial [text block table] | Aggregated financial information on the Group’s share in associates and joint ventures that are individually immaterial in € m. Dec 31, 2018 Dec 31, 2017 Carrying amount of all associates that are individually immaterial to the Group 359 415 Aggregated amount of the Group's share of profit (loss) from continuing operations 30 35 Aggregated amount of the Group's share of post-tax profit (loss) from discontinued operations 0 0 Aggregated amount of the Group's share of other comprehensive income (8 ) (33 ) Aggregated amount of the Group's share of total comprehensive income 22 2 |
Offsetting Financial Assets a_2
Offsetting Financial Assets and Financial Liabilities (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Offsetting Financial Assets and Financial Liabilities [Abstract] | |
Offsetting [text block table] | Assets Dec 31, 2018 Net Amounts not set off on the balance sheet in € m. Gross Gross Impact of Cash Financial Net amount Central bank funds sold and securities purchased 8,194 (2,629 ) 5,565 0 0 (5,565 ) 0 Central bank funds sold and securities purchased 2,656 0 2,656 0 0 (2,169 ) 488 Securities borrowed (enforceable) 3,157 0 3,157 0 0 (3,055 ) 102 Securities borrowed (non-enforceable) 239 0 239 0 0 (239 ) 0 Financial assets at fair value through profit or loss (enforceable) 435,306 (73,286 ) 362,020 (250,476 ) (39,006 ) (63,733 ) 8,805 Of which: Positive market values from derivative financial instruments (enforceable) 324,348 (19,269 ) 305,080 (250,231 ) (38,731 ) (6,682 ) 9,436 Financial assets at fair value through profit or loss (non-enforceable) 211,323 0 211,323 0 (1,858 ) (12,013 ) 197,452 Of which: Positive market values from derivative financial instruments (non-enforceable) 14,978 0 14,978 0 (1,858 ) (1,277 ) 11,843 Total financial assets at fair value through profit 646,629 (73,286 ) 573,344 (250,476 ) (40,864 ) (75,746 ) 206,257 Loans at amortized cost 400,297 0 400,297 0 (13,505 ) (39,048 ) 347,743 Other assets 107,633 (14,189 ) 93,444 (29,073 ) (522 ) (92 ) 63,757 Of which: Positive market values from derivatives qualifying for hedge accounting (enforceable) 3,451 (423 ) 3,028 (2,347 ) (520 ) (92 ) 69 Remaining assets subject to netting 1,097 0 1,097 0 0 (621 ) 475 Remaining assets not subject to netting 268,338 0 268,338 0 (227 ) (1,540 ) 266,571 Total assets 1,438,241 (90,104 ) 1,348,137 (279,550 ) (55,118 ) (128,075 ) 885,394 1 Excludes real estate and other non-financial instrument collateral. Liabilities Dec 31, 2018 Net Amounts not set off on the balance sheet in € Gross Gross Impact of Cash Financial Net amount Deposits 564,405 0 564,405 0 0 0 564,405 Central bank funds purchased and securities sold 7,145 (3,677 ) 3,468 0 0 (3,468 ) 0 Central bank funds purchased and securities sold 1,399 0 1,399 0 0 (1,140 ) 259 Securities loaned (enforceable) 3,164 0 3,164 0 0 (3,164 ) 0 Securities loaned (non-enforceable) 195 0 195 0 0 (164 ) 31 Financial liabilities at fair value through profit or loss (enforceable) 399,625 (71,469 ) 328,156 (251,495 ) (25,232 ) (40,935 ) 10,493 Of which: Negative market values from derivative financial instruments (enforceable) 309,401 (18,978 ) 290,423 (250,908 ) (25,232 ) (4,805 ) 9,478 Financial liabilities at fair value through profit or loss (non-enforceable) 87,524 0 87,524 0 (2,301 ) (11,268 ) 73,955 Of which: Negative market values from derivative financial instruments (non-enforceable) 11,064 0 11,064 0 (1,494 ) (573 ) 8,996 Total financial liabilities at fair value through profit 487,149 (71,469 ) 415,680 (251,495 ) (27,533 ) (52,204 ) 84,448 Other liabilities 132,470 (14,957 ) 117,513 (42,260 ) (73 ) (158 ) 75,022 Of which: Negative market values from derivatives qualifying for hedge accounting (enforceable) 2,537 (615 ) 1,922 (1,670 ) (71 ) (158 ) 23 Remaining liabilities not subject to netting 173,577 0 173,577 0 0 0 173,577 Total liabilities 1,369,503 (90,104 ) 1,279,400 (293,755 ) (27,606 ) (60,297 ) 897,742 Assets Dec 31, 2017 Net Amounts not set off on the balance sheet in € m. Gross Gross Impact of Cash Financial Net amount Central bank funds sold and securities purchased 8,136 (455 ) 7,681 0 0 (7,675 ) 7 Central bank funds sold and securities purchased 2,290 0 2,290 0 0 (2,239 ) 51 Securities borrowed (enforceable) 14,987 0 14,987 0 0 (14,093 ) 894 Securities borrowed (non-enforceable) 1,744 0 1,744 0 0 (1,661 ) 83 Financial assets at fair value through profit or loss Trading assets 185,127 (465 ) 184,661 0 (81 ) (86 ) 184,495 Positive market values from derivative financial 363,859 (18,237 ) 345,622 (285,421 ) (41,842 ) (7,868 ) 10,490 Positive market values from derivative financial 15,410 0 15,410 0 (1,811 ) (1,276 ) 12,323 Financial assets designated at fair value through 125,869 (64,003 ) 61,865 (728 ) (773 ) (56,410 ) 3,954 Financial assets designated at fair value through 29,411 0 29,411 0 0 (20,534 ) 8,876 Total financial assets at fair value through profit 719,676 (82,706 ) 636,970 (286,149 ) (44,508 ) (86,174 ) 220,138 Loans 401,699 0 401,699 0 (12,642 ) (40,775 ) 348,282 Other assets 112,023 (10,531 ) 101,491 (29,854 ) (569 ) (94 ) 70,975 of which: Positive market values from derivatives qualifying for hedge accounting (enforceable) 3,859 (706 ) 3,153 (2,461 ) (565 ) (94 ) 33 Remaining assets not subject to netting 307,869 0 307,869 0 (390 ) (70 ) 307,409 Total assets 1,568,425 (93,692 ) 1,474,732 (316,003 ) (58,109 ) (152,782 ) 947,839 1 Excludes real estate and other n on -f inancial i nstrument collateral . Liabilities Dec 31, 2017 Net Amounts not set off on the balance sheet in € Gross Gross Impact of Cash Financial Net amount Deposits 581,873 0 581,873 0 0 0 581,873 Central bank funds purchased and securities sold 13,318 (455 ) 12,863 0 0 (12,863 ) 0 Central bank funds purchased and securities sold 5,242 0 5,242 0 0 (4,985 ) 257 Securities loaned (enforceable) 6,688 0 6,688 0 0 (6,688 ) 0 Securities loaned (non-enforceable) 0 0 0 0 0 0 0 Financial liabilities at fair value through profit or loss Trading liabilities 72,106 (643 ) 71,462 0 0 0 71,462 Negative market values from derivative financial 347,496 (17,928 ) 329,568 (286,720 ) (25,480 ) (6,124 ) 11,244 Negative market values from derivative financial 13,158 0 13,158 0 (1,913 ) (615 ) 10,630 Financial liabilities designated at fair value through 104,594 (63,360 ) 41,234 (728 ) 0 (40,506 ) 0 Financial liabilities designated at fair value through 23,214 0 23,214 0 1,111 (13,646 ) 10,679 Total financial liabilities at fair value through profit 560,568 (81,932 ) 478,636 (287,448 ) (26,282 ) (60,891 ) 104,015 Other liabilities 143,514 (11,306 ) 132,208 (44,815 ) (31 ) (87 ) 87,275 of which: Negative market values from derivatives qualifying for hedge accounting (enforceable) 1,841 (547 ) 1,294 (1,162 ) (31 ) (87 ) 15 Remaining liabilities not subject to netting 189,122 0 189,122 0 0 0 189,122 Total liabilities 1,500,326 (93,692 ) 1,406,633 (332,263 ) (26,314 ) (85,514 ) 962,542 |
Loans (Tables)
Loans (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Loans [Abstract] | |
Components of Loans by Industry Classification IFRS 9 [text block table] | L oans by industry classification in € m. Dec 31, 2018 Agriculture, forestry and fishing 655 Mining and quarrying 3,699 Manufacturing 30,966 Electricity, gas, steam and air conditioning supply 3,555 Water supply, sewerage, waste management and remediation activities 895 Construction 4,421 Wholesale and retail trade, repair of motor vehicles and motorcycles 21,871 Transport and storage 6,548 Accommodation and food service activities 2,094 Information and communication 5,281 Financial and insurance activities 93,886 Real estate activities 35,153 Professional, scientific and technical activities 7,020 Administrative and support service activities 7,921 Public administration and defense, compulsory social security 10,752 Education 698 Human health services and social work activities 3,618 Arts, entertainment and recreation 951 Other service activities 5,328 Activities of households as employers, undifferentiated goods- and services-producing activities of households for own use 188,494 Activities of extraterritorial organizations and bodies 25 Gross loans 433,832 (Deferred expense)/unearned income 254 Loans less (deferred expense)/unearned income 433,578 Less: Allowance for loan losses 4,247 Total loans 429,331 |
Components of Loans by Industry Classification IAS 39 [text block table] | in € m. Dec 31, 2017 Financial intermediation 52,204 Manufacturing 27,478 of which: Basic metals and fabricated metal products 4,211 Electrical and optical equipment 3,386 Transport equipment 3,374 Chemicals and chemical products 3,623 Machinery and equipment 3,191 Food products 2,907 Households (excluding mortgages) 36,524 Households – mortgages 150,205 Public sector 13,711 Wholesale and retail trade 19,252 Commercial real estate activities 29,247 Lease financing 384 Fund management activities 18,708 Other 58,167 of which: Renting of machinery and other business activities 26,559 Transport, storage and communication 9,243 Mining and quarrying of energy-producing materials 2,553 Electricity, gas and water supply 3,552 Gross loans 405,879 (Deferred expense)/unearned income 259 Loans less (deferred expense)/unearned income 405,621 Less: Allowance for loan losses 3,921 Total loans 401,699 |
Allowance for Credit Losses (Ta
Allowance for Credit Losses (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Allowance for Credit Losses [Abstract] | |
Development of allowance for credit losses for financial assets at amortized cost [text block table] | Development of allowance for credit losses for financial assets at amortized cost Dec 31, 2018 Allowance for Credit Losses 3 in € m. Stage 1 Stage 2 Stage 3 Stage 3 POCI Total Balance, beginning of year 462 494 3,638 3 4,596 Movements in financial assets including new business (132 ) 215 440 (17 ) 507 Transfers due to changes in creditworthiness 199 (137 ) (62 ) N/M 0 Changes due to modifications that did not result in N/M N/M N/M N/M N/M Changes in models 0 0 0 0 0 Financial assets that have been derecognized during the period² (6 ) (17 ) (972 ) 0 (995 ) Recovery of written off amounts 0 0 172 0 172 Foreign exchange and other changes (14 ) (54 ) 30 17 (21 ) Balance, end of reporting period 509 501 3,247 3 4,259 Provision for Credit Losses excluding country risk 1 66 78 379 (17 ) 507 1 Movements in financial assets including new business, transfers due to changes in creditworthiness and changes in models add up to Provision for Credit Losses excluding country risk. 2 This position includes charge offs of allowance for credit losses. 3 Allowance for credit losses does not include allowance for country risk amounting to € 6 million as of December 31, 2018 . |
Allowance for credit losses for financial assets at fair value through OCI [text block table] | Allowance for credit losses for financial assets at fair value through OCI 1 Dec 31, 2018 Allowance for Credit Losses in € m. Stage 1 Stage 2 Stage 3 Stage 3 POCI Total Fair Value through OCI 11 1 0 (0 ) 13 1 Allowance for credit losses against f inancial assets at fair value through OCI were almost unchanged at very low levels ( € 12 million at the beginning of year 2018 and € 13 million as of December 31, 2018, respectively). Due to immateriality, we do not provide any details on the year-over-year development. |
Development of allowance for credit losses for Off-balance sheet positions [text block table] | Development of allowance for credit losses for Off-balance sheet positions Dec 31, 2018 Allowance for Credit Losses 2 in € m. Stage 1 Stage 2 Stage 3 Stage 3 POCI Total Balance, beginning of year 117 36 119 0 272 Movements including new business 0 31 (13 ) 0 18 Transfers due to changes in creditworthiness 2 0 (2 ) N/M 0 Changes in models N/M N/M N/M N/M N/M Foreign exchange and other changes 14 6 (20 ) 0 0 Balance, end of reporting period 132 73 84 0 289 Provision for Credit Losses excluding country risk 1 1 31 (15 ) 0 18 1 The above table breaks down the impact on provision for credit losses from movements in financial assets including new business, transfers due to changes in creditworthiness and changes in models. 2 Allowance for credit losses does not include allowance for country risk amounting to € 5 million as of December 31, 2018 . |
Breakdown of the movements in the Groups allowance for loan losses (as previously reported under IAS 39) [text block table] | B reakdown of the movements in the Group’s allowance for loan losses (as previously reported under IAS 39) 2017 2016 in € m. Individually Collectively Total Individually Collectively Total Allowance, beginning of year 2,071 2,475 4,546 2,252 2,776 5,028 Provision for loan losses 299 253 552 743 604 1,347 Net charge-offs: (487 ) (532 ) (1,019 ) (894 ) (870 ) (1,764 ) Charge-offs (541 ) (605 ) (1,146 ) (979 ) (972 ) (1,951 ) Recoveries 54 73 127 85 101 187 Other Changes (117 ) (41 ) (158 ) (30 ) (35 ) (65 ) Allowance, end of year 1,766 2,155 3,921 2,071 2,475 4,546 |
Activity in the Group's allowance for off-balance sheet positions (contingent liabilities and lending commitments), as previously reported under IAS 39) [text block table] | A ctivity in the Group’s allowance for off-balance sheet positions ( contingent liabilities and lending commitments ), (as previously reported under IAS 39) 2017 2016 in € m. Individually Collectively Total Individually Collectively Total Allowance, beginning of year 162 183 346 144 168 312 Provision for off-balance sheet positions (23 ) (4 ) (27 ) 24 12 36 Usage 0 0 0 0 0 0 Other changes (18 ) (16 ) (34 ) (5 ) 3 (2 ) Allowance, end of year 122 163 285 162 183 346 |
Transfers of Financial Assets a
Transfers of Financial Assets and Assets Pledged and Received as Collateral (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Assets Pledged and Received as Collateral [Abstract] | |
Information on the Asset Types and the Associated Transactions [text block table] | Information on asset types and associated transactions that did not qualify for derecognition in € m. Dec 31, 2018 Dec 31, 2017¹ Carrying amount of transferred assets Trading securities not derecognized due to the following transactions: Repurchase agreements 33,980 43,025 Securities lending agreements 41,621 58,076 Total return swaps 1,835 2,390 Other 6,589 12,661 Total trading securities 84,025 116,153 Other trading assets 69 71 Non-trading financial assets mandatory at fair value through profit or loss 1,289 N/A Financial assets available for sale N/A 711 Financial assets at fair value through other comprehensive income 4,286 N/A Loans at amortized cost 2 408 131 Total 90,076 117,066 Carrying amount of associated liabilities 46,218 51,937 1 Prior year numbers have been restated following reassessments of certain repurchase transactions . 2 Loans where the associated liability is recourse only to the transferred assets had a carrying value and fair value of € 0 million at December 31, 2018 and € 108 million at December 31, 2017. The associated liabilities had the same carrying value and fair value which resulted in a net position of 0 . |
Continuing Involvement Accounting [text block table] | Carrying value of assets transferred in which the Group still accounts for the asset to the extent of its continuing involvement in € m. Dec 31, 2018 Dec 31, 2017 Carrying amount of the original assets transferred Trading securities 759 0 Financial assets designated at fair value through profit or loss 306 291 Non-trading financial assets mandatory at fair value through profit or loss 386 N/A Financial assets available for sale N/A 386 Carrying amount of the assets continued to be recognized Trading securities 35 0 Financial assets designated at fair value through profit or loss 15 15 Non-trading financial assets mandatory at fair value through profit or loss 43 N/A Financial assets available for sale N/A 96 Carrying amount of associated liabilities 117 54 |
Transferred Assets with on-going Involvement - Table I [text block table] | The impact on the Group’s Balance Sheet of on-going involvement associated with transferred assets derecognized in full Dec 31,2018 Dec 31,2017 in € m. Carrying Fair value Maximum Carrying Fair value Maximum Loans at amortized cost Securitization notes 372 372 372 270 270 270 Other 14 14 14 13 13 13 Total Loans at amortized cost 385 385 385 284 284 284 Financial assets held at Fair Value through the P&L Securitization notes 22 22 22 0 0 0 Non-standard Interest Rate, cross-currency or inflation-linked swap 5 5 5 36 36 36 Total Financial assets held at Fair Value through the P&L 27 27 27 36 36 36 Financial assets at fair value through other comprehensive income: Securitization notes 112 112 112 0 0 0 Other 0 0 0 0 0 0 Total Financial assets at fair value through other comprehensive income 112 112 112 0 0 0 Total financial assets representing on-going involvement 524 524 524 320 320 320 Financial liabilities held at Fair Value through P&L Non-standard Interest Rate, cross-currency or inflation-linked swap 61 61 0 67 67 0 Total financial liabilities representing on-going involvement 61 61 0 67 67 0 1 The maximum exposure to loss is defined as the carrying value plus the notional value of any undrawn loan commitments not recognized as liabilities. |
Transferred Assets with on-going Involvement - Table II [text block table] | The impact on the Group’s Statement of Income of on-going involvement associated with transferred assets derecognized in full Dec 31,2018 Dec 31,2017 in € m. Year-to- Cumulative Gain/(loss) Year-to- Cumulative Gain/(loss) Securitization notes 9 13 11 3 3 79 1 Non-standard Interest Rate, cross-currency or 21 268 0 46 510 0 Net gains/(losses) recognized from on-going 30 281 11 49 513 79 1 Typically, sales of assets into securitization vehicles were of assets that were classified as Fair Value through P&L, therefore any gain or loss on disposal is immaterial. |
Carrying Value of the Assets Pledged as Collateral [text block table] | Carrying value of the Group’s assets pledged as collateral for liabilities or contingent liabilities 1 in € m. Dec 31, 2018 Dec 31, 2017² Financial assets at fair value through profit or loss 41,816 54,134 Financial assets at fair value through other comprehensive income 4,274 N/A Financial assets available for sale N/A 6,469 Loans 75,641 71,404 Other 1,364 417 Total 123,095 132,423 1 Excludes assets pledged as collateral from transactions that do not result in liabilities or contingent liabilities. 2 Prior period results have been restated. |
Total assets pledged to creditors [text block table] | Total assets pledged to creditors available for sale or repledge 1 in € m. Dec 31, 2018 Dec 31, 2017² Financial assets at fair value through profit or loss 45,640 71,278 Financial assets at fair value through other comprehensive income 3,201 N/A Financial assets available for sale N/A 0 Loans 11 0 Total 48,851 71,278 1 Includes assets pledged as collateral from transactions that do not result in liabilities or contingent liabilities. 2 Prior period results have been restated. |
Collateral Received [text block table] | Transfer of Financial Assets , Assets Pledged and Received as Collateral The Group enters into transactions in which it transfers financial assets held on the balance sheet and as a result may either be eligible to derecognize the transferred asset in its entirety or must continue to recognize the transferred asset to the extent of any continuing involvement, depending on certain criteria. These criteria are discussed in Note 1 “ Significant Accounting Policies and Critical Accounting Estimates ”. Where financial assets are not eligible to be derecognized, the transfers are viewed as secured financing transactions, with any consideration received resulting in a corresponding liability. The Group is not entitled to use these financial assets for any other purposes. The most common transactions of this nature entered into by the Group are repurchase agreements, securities lending agreements and total return swaps, in which the Group retains substantially all of the associated credit, equity price, interest rate and foreign exchange risks and rewards associated with the assets as well as the associated income streams. Information on asset types and associated transactions that did not qualify for derecognition in € m. Dec 31, 2018 Dec 31, 2017¹ Carrying amount of transferred assets Trading securities not derecognized due to the following transactions: Repurchase agreements 33,980 43,025 Securities lending agreements 41,621 58,076 Total return swaps 1,835 2,390 Other 6,589 12,661 Total trading securities 84,025 116,153 Other trading assets 69 71 Non-trading financial assets mandatory at fair value through profit or loss 1,289 N/A Financial assets available for sale N/A 711 Financial assets at fair value through other comprehensive income 4,286 N/A Loans at amortized cost 2 408 131 Total 90,076 117,066 Carrying amount of associated liabilities 46,218 51,937 1 Prior year numbers have been restated following reassessments of certain repurchase transactions . 2 Loans where the associated liability is recourse only to the transferred assets had a carrying value and fair value of € 0 million at December 31, 2018 and € 108 million at December 31, 2017. The associated liabilities had the same carrying value and fair value which resulted in a net position of 0 . Carrying value of assets transferred in which the Group still accounts for the asset to the extent of its continuing involvement in € m. Dec 31, 2018 Dec 31, 2017 Carrying amount of the original assets transferred Trading securities 759 0 Financial assets designated at fair value through profit or loss 306 291 Non-trading financial assets mandatory at fair value through profit or loss 386 N/A Financial assets available for sale N/A 386 Carrying amount of the assets continued to be recognized Trading securities 35 0 Financial assets designated at fair value through profit or loss 15 15 Non-trading financial assets mandatory at fair value through profit or loss 43 N/A Financial assets available for sale N/A 96 Carrying amount of associated liabilities 117 54 The Group could retain some exposure to the future performance of a transferred asset either through new or existing contractual rights and obligations and still be eligible to derecognize the asset. This ongoing involvement will be recognized as a new instrument which may be different from the original financial asset that was transferred. Typical transactions include retaining senior notes of non-consolidated securitizations to which originated loans have been transferred; financing arrangements with structured entities to which the Group has sold a portfolio of assets; or sales of assets with credit-contingent swaps. The Group’s exposure to such transactions is not considered to be significant as any substantial retention of risks associated with the transferred asset will commonly result in an initial failure to derecognize. Transactions not considered to result in an ongoing involvement include normal warranties on fraudulent activities that could invalidate a transfer in the event of legal action, qualifying pass-through arrangements and standard trustee or administrative fees that are not linked to performance. The impact on the Group’s Balance Sheet of on-going involvement associated with transferred assets derecognized in full Dec 31,2018 Dec 31,2017 in € m. Carrying Fair value Maximum Carrying Fair value Maximum Loans at amortized cost Securitization notes 372 372 372 270 270 270 Other 14 14 14 13 13 13 Total Loans at amortized cost 385 385 385 284 284 284 Financial assets held at Fair Value through the P&L Securitization notes 22 22 22 0 0 0 Non-standard Interest Rate, cross-currency or inflation-linked swap 5 5 5 36 36 36 Total Financial assets held at Fair Value through the P&L 27 27 27 36 36 36 Financial assets at fair value through other comprehensive income: Securitization notes 112 112 112 0 0 0 Other 0 0 0 0 0 0 Total Financial assets at fair value through other comprehensive income 112 112 112 0 0 0 Total financial assets representing on-going involvement 524 524 524 320 320 320 Financial liabilities held at Fair Value through P&L Non-standard Interest Rate, cross-currency or inflation-linked swap 61 61 0 67 67 0 Total financial liabilities representing on-going involvement 61 61 0 67 67 0 1 The maximum exposure to loss is defined as the carrying value plus the notional value of any undrawn loan commitments not recognized as liabilities. The impact on the Group’s Statement of Income of on-going involvement associated with transferred assets derecognized in full Dec 31,2018 Dec 31,2017 in € m. Year-to- Cumulative Gain/(loss) Year-to- Cumulative Gain/(loss) Securitization notes 9 13 11 3 3 79 1 Non-standard Interest Rate, cross-currency or 21 268 0 46 510 0 Net gains/(losses) recognized from on-going 30 281 11 49 513 79 1 Typically, sales of assets into securitization vehicles were of assets that were classified as Fair Value through P&L, therefore any gain or loss on disposal is immaterial. The Group pledges assets primarily as collateral against secured funding and for repurchase agreements, securities borrowing agreements as well as other borrowing arrangements and for margining purposes on OTC derivative liabilities. Pledges are generally conducted under terms that are usual and customary for standard securitized borrowing contracts and other transactions described . Carrying value of the Group’s assets pledged as collateral for liabilities or contingent liabilities 1 in € m. Dec 31, 2018 Dec 31, 2017² Financial assets at fair value through profit or loss 41,816 54,134 Financial assets at fair value through other comprehensive income 4,274 N/A Financial assets available for sale N/A 6,469 Loans 75,641 71,404 Other 1,364 417 Total 123,095 132,423 1 Excludes assets pledged as collateral from transactions that do not result in liabilities or contingent liabilities. 2 Prior period results have been restated. Total assets pledged to creditors available for sale or repledge 1 in € m. Dec 31, 2018 Dec 31, 2017² Financial assets at fair value through profit or loss 45,640 71,278 Financial assets at fair value through other comprehensive income 3,201 N/A Financial assets available for sale N/A 0 Loans 11 0 Total 48,851 71,278 1 Includes assets pledged as collateral from transactions that do not result in liabilities or contingent liabilities. 2 Prior period results have been restated. The Group receives collateral primarily in reverse repurchase agreements, securities lending agreements, derivatives transactions, customer margin loans and other transactions. These transactions are generally conducted under terms that are usual and customary for standard secured lending activities and the other transactions described. The Group, as the secured party, has the right to sell or re-pledge such collateral, subject to the Group returning equivalent securities upon completion of the transaction. This right is used primarily to cover short sales, securities loaned and securities sold under repurchase agreements. Fair Value of collateral received in € m. Dec 31, 2018 Dec 31, 2017¹ Securities and other financial assets accepted as collateral 292,474 366,312 thereof: Collateral sold or repledged 240,365 308,970 1 Prior period results have been restated. |
Property and Equipment (Tables)
Property and Equipment (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Property and Equipment [Abstract] | |
Property and Equipment [text block table] | in € m. Owner Furniture and Leasehold Construction- Total Cost of acquisition: Balance as of January 1, 2017 1,516 2,406 2,820 240 6,982 Changes in the group of consolidated companies 0 (8 ) (1 ) 0 (9 ) Additions 12 165 117 191 485 Transfers 18 75 191 (288 ) (4 ) Reclassifications (to)/from “held for sale” (61 ) 0 0 0 (61 ) Disposals 96 97 291 0 484 Exchange rate changes (3 ) (67 ) (92 ) (4 ) (166 ) Balance as of December 31, 2017 1,387 2,473 2,743 139 6,743 Changes in the group of consolidated companies 0 141 (2 ) 0 139 Additions 11 150 155 150 465 Transfers (8 ) (4 ) 106 (147 ) (53 ) Reclassifications (to)/from “held for sale” (478 ) (30 ) (27 ) (2 ) (538 ) Disposals 134 291 144 0 569 Exchange rate changes 1 164 29 1 195 Balance as of December 31, 2018 778 2,602 2,860 142 6,382 Accumulated depreciation and impairment: Balance as of January 1, 2017 572 1,720 1,886 0 4,178 Changes in the group of consolidated companies 0 (8 ) (1 ) 0 (9 ) Depreciation 37 211 193 0 441 Impairment losses 15 3 2 0 19 Reversals of impairment losses 0 (1 ) 0 0 (1 ) Transfers 1 17 (22 ) 0 (4 ) Reclassifications (to)/from “held for sale” (0 ) 0 0 0 (0 ) Disposals 44 90 284 0 418 Exchange rate changes (1 ) (54 ) (72 ) 0 (128 ) Balance as of December 31, 2017 579 1,800 1,702 0 4,080 Changes in the group of consolidated companies (0 ) 28 (1 ) 0 27 Depreciation 28 206 197 0 430 Impairment losses 3 3 3 0 9 Reversals of impairment losses 37 0 0 0 37 Transfers (13 ) 48 (5 ) 0 30 Reclassifications (to)/from “held for sale” (215 ) (40 ) (22 ) 0 (277 ) Disposals 17 281 128 0 426 Exchange rate changes 1 99 24 0 125 Balance as of December 31, 2018 328 1,862 1,770 0 3,960 Carrying amount: Balance as of December 31, 2017 809 673 1,041 139 2,663 Balance as of December 31, 2018 450 740 1,090 142 2,421 |
Leases (Tables)
Leases (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Leases [Abstract] | |
Net Carrying Value for each Class of Leasing Assets [text block table] | Net Carrying Value of Leasing Assets Held under finance leases in € m. Dec 31, 2018 Dec 31, 2017 Land and buildings 28 14 Furniture and equipment 0 4 Other 0 0 Net carrying value 28 18 |
Future Minimum Lease Payments (Finance Leases) [text block table] | Future Minimum Lease Payments Required under the Group’s Finance Leases in € m. Dec 31, 2018 Dec 31, 2017 Future minimum lease payments: Not later than one year 19 8 Later than one year and not later than five years 34 20 Later than five years 65 70 Total future minimum lease payments 118 98 Less: Future interest charges 91 70 Present value of finance lease commitments 27 28 Future minimum lease payments to be received 5 0 Contingent rent recognized in the income statement¹ 0 0 1 The contingent rent is based on market interest rates, such as three months EURIBOR; below a certain rate the Group receives a rebate . |
Future Minimum Lease Payments (Operating Leases) [text block table] | Future Minimum Lease Payments Required under the Group’s Operating Leases in € m. Dec 31, 2018 Dec 31, 2017 Future minimum rental payments: Not later than one year 707 684 Later than one year and not later than five years 2,077 1,979 Later than five years 3,480 1,901 Total future minimum rental payments 6,264 4,564 Less: Future minimum rentals to be received 20 58 Net future minimum rental payments 6,244 4,506 |
Goodwill and Other Intangible_2
Goodwill and Other Intangible Assets (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Goodwill and Other Intangible Assets [Abstract] | |
Changes in Goodwill [text block table] | Goodwill allocated to cash-generating units in € m. Sales & Global Private and Postbank Wealth Asset Others Total Balance as of 0 532 0 0 564 3,006 1 4,103 Goodwill acquired during 0 0 0 0 0 0 0 0 Purchase accounting 0 0 0 0 0 0 0 0 Transfers 6 (6 ) 0 0 0 0 0 0 Reclassification from (to) 0 (3 ) 0 0 0 0 0 (3 ) Goodwill related to 0 0 0 0 0 (6 ) 0 (6 ) Impairment losses 1 (6 ) 0 0 0 0 0 0 (6 ) Exchange rate 0 (52 ) 0 0 (22 ) (231 ) 0 (306 ) Balance as of 0 471 0 0 541 2,768 1 3,782 Gross amount of goodwill 2,780 1,485 1,077 2,086 541 3,232 1 11,203 Accumulated impairment (2,780 ) (1,014 ) (1,077 ) (2,086 ) 0 (464 ) 0 (7,422 ) Balance as of 0 471 0 0 541 2,768 1 3,782 Goodwill acquired during 0 0 0 0 0 0 0 0 Purchase accounting 0 0 0 0 0 0 0 0 Transfers 0 0 0 0 0 0 0 0 Reclassification from (to) 0 0 0 0 (4 ) 0 0 (4 ) Goodwill related to 0 0 0 0 0 0 0 0 Impairment losses 1 0 0 0 0 0 0 0 0 Exchange rate 0 18 0 0 5 74 0 98 Balance as of 0 489 0 0 543 2,843 1 3,876 Gross amount of goodwill 2,889 1,539 1,076 2,086 543 3,314 1 11,449 Accumulated impairment (2,889 ) (1,051 ) (1,076 ) (2,086 ) 0 (471 ) 0 (7,573 ) 1 Impairment losses of goodwill are recorded as impairment of goodwill and other intangible assets in the income statement. |
Primary Cash-Generating Units [text block table] | Primary goodwill-carrying cash-generating units Discount rate (post-tax) 2018 2017 Global Transaction Banking & Corporate Finance 8.8 % 8.8 % Wealth Management 9.0 % 9.1 % Asset Management 9.7 % 10.0 % |
Changes of Other Intangible Assets by Asset Class [text block table] | C hanges of other intangible assets by asset classes for the years ended December 31, 201 8 , and December 31, 201 7 Purchased intangible assets Internally Total other Unamortized Amortized Amortized in € m. Retail Other Total Customer- Contract- Software Total Software Cost of acquisition/ Balance as of January 1, 2017 1,094 440 1,534 1,431 70 871 2,372 6,235 10,140 Additions 0 0 0 15 0 48 63 1,360 1,423 Changes in the group of 0 0 0 0 0 (35 ) (35 ) (171 ) (206 ) Disposals 0 0 0 0 0 21 21 121 142 Reclassifications from 0 0 0 (6 ) 0 0 (6 ) 0 (6 ) Transfers 0 (0 ) (0 ) 1 0 50 51 (42 ) 9 Exchange rate changes (131 ) (1 ) (132 ) (77 ) (0 ) (12 ) (89 ) (237 ) (457 ) Balance as of December 31, 2017 963 440 1,402 1,364 70 901 2,335 7,024 10,761 Additions 0 0 0 12 0 44 56 1,242 1,298 Changes in the group of 0 0 0 0 0 (0 ) (0 ) 0 (0 ) Disposals 0 0 0 0 0 126 126 725 851 Reclassifications from 0 0 0 0 0 (7 ) (7 ) (20 ) (27 ) Transfers 0 2 2 (3 ) 0 (213 ) (215 ) 190 (24 ) Exchange rate changes 48 0 48 10 0 5 15 102 165 Balance as of December 31, 2018 1,010 441 1,451 1,384 70 603 2,058 7,814 11,322 Accumulated amortization Balance as of January 1, 2017 276 424 700 1,363 65 715 2,143 2,418 5,261 Amortization for the year 0 0 0 34 4 27 65 870 935 1 Changes in the group of 0 0 0 0 0 (35 ) (35 ) (171 ) (206 ) Disposals 0 0 0 0 0 19 19 81 99 Reclassifications from 0 0 0 (4 ) 0 0 (4 ) 0 (4 ) Impairment losses 0 15 15 0 0 0 0 42 57 2 Reversals of impairment losses 0 0 0 0 0 0 0 0 0 Transfers 0 0 0 0 0 41 41 (35 ) 6 Exchange rate changes (33 ) (0 ) (33 ) (72 ) (0 ) (12 ) (84 ) (129 ) (246 ) Balance as of December 31, 2017 243 439 682 1,321 69 718 2,108 2,914 5,704 Amortization for the year 0 0 0 21 1 40 61 1,034 1,095 3 Changes in the group of 0 0 0 0 0 (0 ) (0 ) 0 (0 ) Disposals 0 0 0 0 0 125 125 724 850 Reclassifications from 0 0 0 0 0 (7 ) (7 ) (20 ) (27 ) Impairment losses 0 0 0 0 0 0 0 42 42 4 Reversals of impairment losses 0 0 0 0 0 0 0 0 0 Transfers 0 0 0 6 0 (136 ) (129 ) 139 10 Exchange rate changes 12 0 12 10 0 5 14 57 83 Balance as of December 31, 2018 255 439 694 1,358 70 494 1,922 3,442 6,057 Carrying amount: As of December 31, 2017 719 1 720 43 1 183 227 4,110 5,057 As of December 31, 2018 755 2 757 26 0 109 136 4,372 5,265 1 The € 935 million were included in general and administrative expenses . 2 Of which € 42 million were related to the impairment of self-developed software, recorded in general and administrative expenses , and € 15 million referring to the impairment of a non-amortizing trade-mark intangible asset which is included under impairment of goodwill and other intangible asset . 3 The € 1.1 b illion were included in general and administrative expenses . 4 The € 42 million were related to the impairment of self-developed software , recorded in general and administrative expenses . |
Useful Lives of Other Amortized Intangible Assets by Asset Class [text block table] | U seful lives of other amortized intangible assets by asset class Useful lives Internally generated intangible assets: Software up to 10 Purchased intangible assets: Customer-related intangible assets up to 20 Contract-based intangible assets up to 8 Other up to 80 |
Non-Current Assets and Dispos_2
Non-Current Assets and Disposal Groups Held for Sale (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Components of Other Non-Current Assets and Disposal Groups Held for Sale [Abstract] | |
Components of Other Non-Current Assets and Disposal Groups Held for Sale [text block table] | in € m. Dec 31, 2018 Cash, due and deposits with banks, Central bank funds sold and 8 Financial assets at fair value through profit or loss 3 Financial assets available for sale 0 Loans 2,564 Property and equipment 62 Other assets 42 Total assets classified as held for sale 2,679 Deposits, Central bank funds purchased and securities sold under resale agreements 874 Financial liabilities at fair value through profit or loss 4 Long-term debt 0 Other liabilities 364 Total liabilities classified as held for sale 1,242 |
Other Assets and Other Liabil_2
Other Assets and Other Liabilities (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Other Assets and Other Liabilities [Abstract] | |
Components of Other Assets/Liabilities [text block table] | Other Assets and Other Liabilities in € m. Dec 31, 2018 Dec 31, 2017 Other assets: Brokerage and securities related receivables Cash/margin receivables 42,827 46,519 Receivables from prime brokerage 3 12,638 Pending securities transactions past settlement date 3,654 3,929 Receivables from unsettled regular way trades 20,191 19,930 Total brokerage and securities related receivables 66,675 83,015 Debt Securities held to collect 5,184 N/A Accrued interest receivable 2,536 2,374 Assets held for sale 2,679 45 Other 16,371 16,057 Total other assets 93,444 101,491 in € m. Dec 31, 2018 Dec 31, 2017 Other liabilities: Brokerage and securities related payables Cash/margin payables 55,475 58,865 Payables from prime brokerage 15,495 25,042 Pending securities transactions past settlement date 2,228 2,562 Payables from unsettled regular way trades 17,510 20,274 Total brokerage and securities related payables 90,708 106,742 Accrued interest payable 2,486 2,623 Liabilities held for sale 1,242 16 Other 23,078 22,827 Total other liabilities 117,513 132,208 For further details on the assets and liabilities held for sale , please refer to Note 2 6 “Non-Current Assets and Disposal Groups Held for Sale”. |
Deposits (Tables)
Deposits (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Deposits [Abstract] | |
Components of Deposits [text block table] | in € m. Dec 31, 2018 Dec 31, 2017 Noninterest-bearing demand deposits 221,746 226,339 Interest-bearing deposits Demand deposits 126,280 133,280 Time deposits 130,039 133,952 Savings deposits 86,340 88,303 Total interest-bearing deposits 342,659 355,534 Total deposits 564,405 581,873 |
Provisions (Tables)
Provisions (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Provisions [Abstract] | |
Movements by Class of Provision [text block table] | Movements by Class of Provisions in € m. Operational Civil Regulatory Re- Other 1 Total 2 Balance as of January 1, 2017 309 2,014 5,607 741 952 9,622 Changes in the group of consolidated companies 0 (5 ) (0 ) (1 ) 5 (1 ) New provisions 84 745 306 601 847 2,584 Amounts used 53 1,611 3,576 458 763 6,461 Unused amounts reversed 49 134 711 182 118 1,194 Effects from exchange rate fluctuations/Unwind of discount (15 ) (86 ) (575 ) (4 ) (38 ) (718 ) Transfers (2 ) 193 (153 ) (0 ) 3 41 Balance as of January 1, 2018 275 1,115 897 696 889 3,873 Changes in the group of consolidated companies 0 0 0 1 (2 ) (2 ) New provisions 27 334 125 427 765 1,677 Amounts used 54 673 364 344 862 2,296 Unused amounts reversed 41 160 206 185 364 956 Effects from exchange rate fluctuations/Unwind of discount 5 42 41 (1 ) (1 ) 87 Transfers 2 25 6 (9 ) 9 33 Balance as of December 31, 2018 215 684 499 585 433 2,416 1 Figures have been restated to re flect the reclassification of € 1.0 billion and € 1.1 billion from Provisions to Deposits in the Group’s Con solidated Balance Sheet as of January 1, 2017 and January 1, 201 8 , respectively. See Note 1 “Significant Accounting Policies and Critical Accounting Estimate s ” for more details on the change in accounting policy impacting Home Savings Contracts. 2 For the remaining portion of provisions as disclosed on the consolidated balance sheet, please see Note 21 “Allowance for Credit Losses”, in which allowances for credit related off-balance sheet positions are disclosed. |
Credit related Commitments and
Credit related Commitments and Contingent Liabilities (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Credit related Commitments and Contingent Liabilities [Abstract] | |
Irrevocable lending commitments and lending related contingent liabilities [text block table] | Irrevocable lending commitments and lending related contingent liabilities in € m. Dec 31, 2018 Dec 31, 2017 Irrevocable lending commitments 167,722 158,253 Revocable lending commitments 44,327 45,867 Contingent liabilities 51,605 48,212 Total 263,654 252,331 |
Other Commitments and Contingent Liabilities [text block table] | Other commitments and other contingent liabilities in € m. Dec 31, 2018 Dec 31, 2017 Other commitments 130 82 Other contingent liabilities 74 5 Total 204 86 |
Other Short-Term Borrowings (Ta
Other Short-Term Borrowings (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Other Short-Term Borrowings [Abstract] | |
Components of Other Short-Term Borrowings [text block table] | in € m. Dec 31, 2018 Dec 31, 2017 Other short-term borrowings: Commercial paper 2,752 5,274 Other 11,406 13,137 Total other short-term borrowings 14,158 18,411 |
Long-Term Debt and Trust Pref_2
Long-Term Debt and Trust Preferred Securities (Table) | 12 Months Ended |
Dec. 31, 2018 | |
Long-Term Debt and Trust Preferred Securities [Abstract] | |
Long-Term Debt by Contractual Maturity [text block table] | Long-Term Debt by Earliest Contractual Maturity in € m. Due in Due in Due in Due in Due in Due after Total Total Senior debt: Bonds and notes: Fixed rate 16,275 10,510 18,483 6,949 6,898 18,779 77,894 76,285 Floating rate 8,002 4,540 5,347 3,553 2,321 6,732 30,495 33,210 Subordinated debt: Bonds and notes: Fixed rate 2,057 1,135 0 0 30 2,075 5,297 5,493 Floating rate 24 180 0 0 1,202 14 1,420 1,738 Other 20,958 6,263 1,335 557 1,087 6,777 36,977 42,988 Total long-term debt 47,317 22,627 25,164 11,060 11,538 34,377 152,083 159,715 |
Fixed and Floating Rate Trust Preferred Securities [text block table] | Trust Preferred Securities 1 in € m. Dec 31, 2018 Dec 31, 2017 Fixed rate 2,194 4,462 Floating rate 975 1,030 Total trust preferred securities 3,168 5,491 1 P erpetual instruments, redeemable at specific future dates at the Group’s option. |
Maturity Analysis of the earlie
Maturity Analysis of the earliest contractual undiscounted cash flows of Financial Liabilities (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Maturity Analysis of the earliest contractual undiscounted cash flows of Financial Liabilities [Abstract] | |
Maturity Analysis of Financial Liabilities (IFRS) [text block table] | Dec 31, 2018 in € m. On demand Due within Due between Due between Due after Noninterest bearing deposits 221,746 0 0 0 0 Interest bearing deposits 126,416 137,089 47,258 21,683 12,059 Trading liabilities 1 59,922 0 0 0 0 Negative market values from derivative financial 1 301,487 0 0 0 0 Financial liabilities designated at fair value 16,438 25,838 7,895 2,760 5,724 Investment contract liabilities 2 0 0 512 0 0 Negative market values from derivative financial 3 0 609 502 505 306 Central bank funds purchased 252 0 0 0 0 Securities sold under repurchase agreements 3,151 963 508 1 0 Securities loaned 3,358 3 0 0 0 Other short-term borrowings 11,067 2,258 1,622 0 0 Long-term debt 3 34,449 16,268 80,028 36,085 Trust preferred securities 0 36 3,306 0 0 Other financial liabilities 96,573 2,762 1,201 369 60 Off-balance sheet loan commitments 167,722 0 0 0 0 Financial guarantees 22,502 0 0 0 0 Total 4 1,030,639 204,008 79,073 105,346 54,234 1 Trading liabilities and derivatives not qualifying for hedge accounting balances are recorded at fair value. The Group believe s that this best represents the cash flow that would have to be paid if these positions had to be closed out. Trading liabilities and derivatives not qualifying for hedge accounting balances are shown within “ on demand ” which Group’s management believes most accurately reflects the short-term nature of trading activities. The contractual maturity of the instruments may however extend over significantly longer periods. 2 These are investment contracts where the policy terms and conditions result in their redemption value equaling fair value. 3 Derivatives designated for hedge accounting are recorded at fair value and are shown in the time bucket at which the hedged relationship is expected to terminate. 4 The balances in the table do not agree to the numbers in the Group’s balance sheet as the cash flows included in the table are undiscounted. This analysis represents the worst case scenario for the Group if the Group w as required to repay all liabilities earlier than expected. The Group believe s that the likelihood of such an event occurring is remote. Dec 31, 2017 in € m. On demand Due within Due between Due between Due after Noninterest bearing deposits 226,339 0 0 0 0 Interest bearing deposits 133,378 146,204 45,816 19,194 12,510 Trading liabilities 1 71,457 0 0 0 0 Negative market values from derivative financial 1 342,726 0 0 0 0 Financial liabilities designated at fair value 29,207 29,360 4,847 2,599 5,951 Investment contract liabilities 2 0 0 574 0 0 Negative market values from derivative financial 3 0 69 336 672 218 Central bank funds purchased 174 83 0 0 0 Securities sold under repurchase agreements 14,152 2,525 1,348 491 23 Securities loaned 6,684 3 0 0 1 Other short-term borrowings 11,859 2,326 3,600 0 0 Long-term debt 4 7,409 41,820 78,063 41,926 Trust preferred securities 0 1,710 3,328 688 0 Other financial liabilities 112,961 3,483 554 373 4 Off-balance sheet loan commitments 153,700 0 0 0 0 Financial guarantees 19,883 0 0 0 0 Total 4 1,122,525 193,172 102,223 102,080 60,632 1 Trading liabilities and derivatives not qualifying for hedge accounting balances are recorded at fair value. The Group believe s that this best represents the cash flow that would have to be paid if these positions had to be closed out. Trading liabilities and derivatives not qualifying for hedge accounting balances are shown within “ on demand ” which Group’s management believes most accurately reflects the short-term nature of trading activities. The contractual maturity of the instruments may however extend over significantly longer periods. . 2 These are investment contracts where the policy terms and conditions result in their redemption value equaling fair value. 3 Derivatives designated for hedge accounting are recorded at fair value and are shown in the time bucket at which the hedged relationship is expected to terminate. 4 The balances in the table do not agree to the numbers in the Group’s balance sheet as the cash flows included in the table are undiscounted. This analysis represents the worst case scenario for the Group if the Group w as required to repay all liabilities earlier than expected. The Group believe s that the likelihood of such an event occurring is remote. |
Common Shares (Tables)
Common Shares (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Common Shares [Abstract] | |
Common Shares [text block table] | Number of shares Issued and Treasury shares Outstanding Common shares, January 1, 2017 1,379,273,131 (203,442 ) 1,379,069,689 Shares issued under share-based compensation plans 0 0 0 Capital increase 687,500,000 0 687,500,000 Shares purchased for treasury 0 (490,690,358 ) (490,690,358 ) Shares sold or distributed from treasury 0 490,522,710 490,522,710 Common shares, December 31, 2017 2,066,773,131 (371,090 ) 2,066,402,041 Shares issued under share-based compensation plans 0 0 0 Capital increase 0 0 0 Shares purchased for treasury 0 (372,179,750 ) (372,179,750 ) Shares sold or distributed from treasury 0 371,206,696 371,206,696 Common shares, December 31, 2018 2,066,773,131 (1,344,144 ) 2,065,428,987 |
Dividends [text block table] | 2018 2017 2016² Cash dividends declared (in € m.) 227,000,000 227,000,000 227,000,000 Cash dividends declared per common share (in €) 0.11 0.11 0.11 1 Cash dividends for 2018 is based on the number of shares issued as of December 31, 2018. 2 Dividends for 2016 and 2015 were approved by th e annual general meeting in 2017 and were paid simultaneously in 2017 . |
Employee Benefits (Tables)
Employee Benefits (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Employee Benefits [Abstract] | |
Activity for Share Plans [text block table] | Share units Weighted-average Balance as of December 31, 2016 90,292 € 20.22 Balance as of December 31, 2017 137,541 € 14.78 Balance as of December 31, 2018 153,117 € 11.15 |
DWS Share based Plans [text block table] | Grant date Measurement Grant date Measurement PSU PSU SAR SAR Units 1,272 1,248 2,224 2,192 Fair value € 14.56 € 14.18 € 3.95 € 3.35 Share price € 23.75 € 23.37 € 23.75 € 23.37 Exercise price N/A N/A € 24.65 € 24.65 Expected volatility (weighted-average) 36 % 35 % 36 % 35 % Expected life (weighted-averag, in years) 5 5 6 6 Expected dividends (in % of income) 65 % 65 % 65 % 65 % Risk-free interest rate (based on government funds) 0 % 0 % 0 % 0 % |
Breakdown of Benefit Obligation [text block table] | Dec 31, 2018 in € m. Germany UK U.S. Other Total Defined benefit obligation related to Active plan participants 4,599 593 337 623 6,152 Participants in deferred status 2,210 2,286 500 97 5,093 Participants in payment status 5,144 989 500 242 6,875 Total defined benefit obligation 11,953 3,868 1,337 962 18,120 Fair value of plan assets 10,877 4,884 1,074 892 17,727 Funding ratio (in %) 91 % 126 % 80 % 93 % 98 % Dec 31, 2017 in € m. Germany UK U.S. Other Total Defined benefit obligation related to Active plan participants 4,823 688 363 640 6,514 Participants in deferred status 2,196 2,583 536 93 5,408 Participants in payment status 5,071 905 502 246 6,724 Total defined benefit obligation 12,090 4,176 1,401 979 18,646 Fair value of plan assets 11,003 5,202 1,091 915 18,211 Funding ratio (in %) 91 % 125 % 78 % 93 % 98 % |
Benefits Expected to be paid by the Retirement Benefit Plans (Impact on Cashflows) [text block table] | in € m. Germany UK U.S. Other Total Actual benefit payments 2018 437 176 114 76 803 Benefits expected to be paid 2019 439 115 81 66 701 Benefits expected to be paid 2020 448 92 76 59 675 Benefits expected to be paid 2021 460 98 82 59 699 Benefits expected to be paid 2022 480 106 82 61 729 Benefits expected to be paid 2023 498 116 86 60 760 Benefits expected to be paid 2024 – 2028 2,747 694 455 321 4,217 Weighted average duration of defined benefit 14 22 11 12 15 |
Actuarial Assumptions [text block table] | Dec 31, 2018 Dec 31, 2017 Germany UK U.S. 1 Other Germany UK U.S. 1 Other Discount rate (in %) 1.7 % 2.7 % 4.2 % 2.6 % 1.7 % 2.5 % 3.5 % 2.5 % Rate of price inflation (in %) 1.6 % 3.5 % 2.2 % 1.9 % 1.8 % 3.5 % 2.2 % 2.0 % Rate of nominal increase in 2.1 % 4.0 % 2.3 % 2.9 % 2.3 % 4.5 % 2.3 % 3.1 % Rate of nominal increase for 1.5 % 3.3 % 2.2 % 1.0 % 1.7 % 3.3 % 2.2 % 1.1 % Assumed life expectancy For a male aged 65 20.0 23.5 22.2 21.8 19.3 23.6 22.2 21.7 For a female aged 65 23.6 25.4 23.7 24.1 23.3 25.4 23.7 24.1 For a male aged 45 22.8 24.8 23.7 23.3 21.9 24.9 23.8 23.1 For a female aged 45 25.8 26.8 25.2 25.6 25.8 26.9 25.2 25.6 Mortality tables applied Richttafeln Heubeck 2018G SAPS (S2) Light with CMI 2017 projections RP2014 White- collar with MP2018 projections Country specific tables Richttafeln Heubeck 2005G SAPS (S1) Light with CMI 2016 projections RP2014 White- collar with MP 2017 projections Country specific tables 1 Cash balance interest crediting rate in line with the 30-year US government bond yield . |
Reconciliation in Movement of Liabilities and Assets - Impact on Balance Sheet [text block table] | Reconciliation in Movement of Liabilities and Assets – Impact on Financial Statements 2018 in € m. Germany UK U.S. Other Total Change in the present value of the defined benefit obligation: Balance, beginning of year 12,090 4,176 1,401 979 18,646 Defined benefit cost recognized in Profit & Loss Current service cost 204 30 17 45 296 Interest cost 203 104 49 23 379 Past service cost and gain or loss arising from settlements (33 ) 18 0 (1 ) (16 ) Defined benefit cost recognized in Other Comprehensive Income Actuarial gain or loss arising from changes in financial (135 ) (187 ) (89 ) (23 ) (434 ) Actuarial gain or loss arising from changes in demographic assumptions 98 1 (48 ) (3 ) (2 ) 45 Actuarial gain or loss arising from experience (38 ) (7 ) 11 4 (30 ) Cash flow and other changes Contributions by plan participants 3 0 0 16 19 Benefits paid (437 ) (176 ) (114 ) (76 ) (803 ) Payments in respect to settlements 0 0 0 (11 ) (11 ) Acquisitions/Divestitures (2 ) 0 0 0 (2 ) Exchange rate changes 0 (42 ) 65 8 31 Other 0 0 0 0 0 Balance, end of year 11,953 3,868 1,337 962 18,120 thereof: Unfunded 0 10 193 112 315 Funded 11,953 3,858 1,144 850 17,805 Change in fair value of plan assets: Balance, beginning of year 11,003 5,202 1,091 915 18,211 Defined benefit cost recognized in Profit & Loss Interest income 187 130 38 20 375 Defined benefit cost recognized in Other Comprehensive Income Return from plan assets less interest income (351 ) (218 ) (53 ) (33 ) (655 ) Cash flow and other changes Contributions by plan participants 3 0 0 16 19 Contributions by the employer 473 0 52 33 558 Benefits paid 2 (437 ) (175 ) (102 ) (53 ) (767 ) Payments in respect to settlements 0 0 0 (12 ) (12 ) Acquisitions/Divestitures (1 ) 0 0 (1 ) (2 ) Exchange rate changes 0 (53 ) 52 7 6 Other 0 0 0 0 0 Plan administration costs 0 (2 ) (4 ) 0 (6 ) Balance, end of year 10,877 4,884 1,074 892 17,727 Funded status, end of year (1,076 ) 1,016 (263 ) (70 ) (393 ) Change in irrecoverable surplus (asset ceiling) Balance, beginning of year 0 0 0 (44 ) (44 ) Interest cost 0 0 0 0 0 Changes in irrecoverable surplus 0 0 0 20 20 Exchange rate changes 0 0 0 (1 ) (1 ) Balance, end of year 0 0 0 (25 ) (25 ) Net asset (liability) recognized (1,076 ) 1,016 (263 ) (95 ) (418 ) 3 1 Resulting predominantly from updated mortality assumptions (Heubeck 2018G instead of Heubeck 2005G) 2 For funded plans only. 3 Thereof € 1,097 million recognized in Other assets and € 1,515 million in Other liabilities . 2017 in € m. Germany UK U.S. Other Total Change in the present value of the defined benefit obligation: Balance, beginning of year 11,978 4,496 1,548 1,091 19,113 Defined benefit cost recognized in Profit & Loss Current service cost 213 34 21 50 318 Interest cost 202 114 56 25 397 Past service cost and gain or loss arising from settlements 34 4 0 (11 ) 27 Defined benefit cost recognized in Other Comprehensive Income Actuarial gain or loss arising from changes in financial 76 (43 ) 65 3 101 Actuarial gain or loss arising from changes in demographic 0 (16 ) (6 ) (11 ) (33 ) Actuarial gain or loss arising from experience (3 ) (17 ) 5 (9 ) (24 ) Cash flow and other changes Contributions by plan participants 3 0 0 15 18 Benefits paid (413 ) (245 ) (99 ) (83 ) (840 ) Payments in respect to settlements 0 0 0 (26 ) (26 ) Acquisitions/Divestitures 0 0 0 0 0 Exchange rate changes 0 (151 ) (189 ) (63 ) (403 ) Other 0 0 0 (2 ) (2 ) Balance, end of year 12,090 4,176 1,401 979 18,646 thereof: Unfunded 2 12 195 116 325 Funded 12,088 4,164 1,206 863 18,321 Change in fair value of plan assets: Balance, beginning of year 10,975 5,352 1,219 973 18,519 Defined benefit cost recognized in Profit & Loss Interest income 187 135 44 22 388 Defined benefit cost recognized in Other Comprehensive Income Return from plan assets less interest income (187 ) 144 32 32 21 Cash flow and other changes Contributions by plan participants 3 0 0 15 18 Contributions by the employer 438 0 31 22 491 Benefits paid 1 (413 ) (244 ) (86 ) (63 ) (806 ) Payments in respect to settlements 0 0 0 (26 ) (26 ) Acquisitions/Divestitures 0 0 0 0 0 Exchange rate changes 0 (183 ) (147 ) (58 ) (388 ) Other 0 0 0 (1 ) (1 ) Plan administration costs 0 (2 ) (2 ) (1 ) (5 ) Balance, end of year 11,003 5,202 1,091 915 18,211 Funded status, end of year (1,087 ) 1,026 (310 ) (64 ) (435 ) Change in irrecoverable surplus (asset ceiling) Balance, beginning of year 0 0 0 0 0 Interest cost 0 0 0 0 0 Changes in irrecoverable surplus 0 0 0 (46 ) (46 ) Exchange rate changes 0 0 0 2 2 Balance, end of year 0 0 0 (44 ) (44 ) Net asset (liability) recognized (1,087 ) 1,026 (310 ) (108 ) (479 ) 2 1 For funded plans only 2 Thereof € 1,113 million recognized in Other assets and € 1,592 million in Other liabilities. |
Plan Asset Allocation [text block table] | The following table shows the asset allocation of the Group’s funded defined benefit plans to key asset classes, i.e. exposures include physical securities in discretely managed portfolios and underlying asset allocations of any commingled funds used to invest plan assets. Asset amounts in the following table include both “quoted” (i.e. Level 1 asse ts in accordance with IFRS 13 – amounts invested in markets where the fair value can be determined directly from prices which are quoted in active, liquid markets) and “other” (i.e. Level 2 and 3 assets in accordance with IFRS 13) assets. Dec 31, 2018 Dec 31, 2017 in € m. Germany UK U.S. Other Total Germany UK U.S. Other Total Cash and cash equivalents 1,138 715 (12 ) 77 1,918 1,260 419 26 74 1,779 Equity instruments 1 1,148 571 107 60 1,886 1,265 582 118 68 2,033 Investment-grade bonds 2 Government 1,975 699 428 153 3,255 2,212 1,167 367 161 3,907 Non-government bonds 5,196 2,805 405 217 8,623 5,189 2,447 472 175 8,283 Non-investment-grade bonds Government 175 0 1 19 195 177 0 0 14 191 Non-government bonds 166 80 14 22 282 610 70 20 37 737 Structured products 39 6 52 16 113 41 402 51 26 520 Insurance 0 0 0 16 16 0 0 0 27 27 Alternatives Real estate 285 52 0 58 395 232 117 0 56 405 Commodities 53 0 0 0 53 48 24 0 0 72 Private equity 54 0 0 11 65 58 0 0 0 58 Other 3 1,419 22 0 243 1,684 788 36 0 274 1,098 Derivatives (Market Value) Interest rate (192 ) 129 13 (6 ) (56 ) (191 ) 4 148 37 (4 ) (10 ) Credit 13 0 82 0 95 (155 ) (1 ) 0 (1 ) (157 ) Inflation (608 ) (194 ) 0 5 (797 ) (544 ) 4 (210 ) 0 6 (748 ) Foreign exchange 14 (1 ) 0 1 14 10 1 0 2 13 Other 2 0 (16 ) 0 (14 ) 3 0 0 0 3 Total fair value of plan assets 10,877 4,884 1,074 892 17,727 11,003 5,202 1,091 915 18,211 1 Allocation of equity exposure is broadly in line with the typical index in the respective market, e.g. the equity portfolio’s benchmark of the UK retirement benefit plans is the MSCI All Countries World Index. 2 Investment-grade means BBB and above. Average credit rating exposure for the Group’s main plans is around A. 3 Amongst others this position contain s commingled funds which could not be segregated into the other asset categories. In particular the incre ase from 2017 to 2018 is caused by such positions. 4 Comparative 2017 figures have been changed retrospectively to be in line with the current assignment of assets to the derivative categories. The following table sets out the Group’s funded defined benefit plan assets only invested in “quoted” assets, i.e. Level 1 assets in acco rdance with IFRS 13 . Dec 31, 2018 Dec 31, 2017 in € m. Germany UK U.S. Other Total Germany UK U.S. Other Total Cash and cash equivalents 1,162 30 (16 ) 40 1,216 1,251 22 24 28 1,325 Equity instruments 1 1,015 571 107 49 1,742 1,154 582 118 58 1,912 Investment-grade bonds 2 Government 1,013 695 423 52 2,183 1,190 1,163 362 73 2,788 Non-government bonds 0 0 0 0 0 0 0 0 0 0 Non-investment-grade bonds Government 0 0 0 2 2 1 0 0 0 1 Non-government bonds 0 0 0 0 0 0 0 0 0 0 Structured products 0 0 0 0 0 0 0 0 0 0 Insurance 0 0 0 0 0 0 0 0 0 0 Alternatives Real estate 0 0 0 0 0 0 0 0 0 0 Commodities 0 0 0 0 0 0 0 0 0 0 Private equity 0 0 0 0 0 0 0 0 0 0 Other 0 0 0 0 0 0 0 0 0 0 Derivatives (Market Value) Interest rate 0 0 (17 ) 0 (17 ) 1 0 6 0 7 Credit 0 0 0 0 0 0 (1 ) 0 0 (1 ) Inflation 0 0 0 0 0 0 0 0 0 0 Foreign exchange 0 (1 ) 0 0 (1 ) 0 1 0 0 1 Other 2 0 0 0 2 3 0 0 0 3 Total fair value of quoted 3,192 1,295 497 143 5,127 3,600 1,767 510 159 6,036 1 Allocation of equity exposure is broadly in line with the typical index in the respective market, e.g. the equity portfolio’s benchmark of the UK retirement benefit plans is the MSCI All Countries World Index. 2 Investment-grade means BBB and above. Average credit rating exposure for the Group’s main plans is around A. |
Regional Asset Break Down [text block table] | Dec 31, 2018 in € m. Germany United United Other Other Emerging Total Cash and cash equivalents 141 701 65 953 29 29 1,918 Equity instruments 252 108 708 360 363 95 1,886 Government bonds 870 574 474 650 249 438 3,255 Government bonds 0 0 0 4 24 167 195 Non-government bonds 718 2,129 2,023 2,984 1 657 112 8,623 Non-government bonds 4 65 13 186 5 9 282 Structured products 38 21 52 2 0 0 113 Subtotal 2,023 3,598 3,335 5,139 1,327 850 16,272 Share (in %) 12 % 22 % 20 % 32 % 8 % 5 % 100 % Other asset categories 1,455 Fair value of plan assets 17,727 1 Majority of this amount relates to bonds of French, Dutch and Italian corporate bonds. Dec 31, 2017 in € m. Germany United United Other Other Emerging Total Cash and cash equivalents 294 126 96 1,204 16 43 1,779 Equity instruments 349 83 802 317 336 146 2,033 Government bonds 1,057 1,087 397 627 253 486 3,907 Government bonds 0 0 0 9 23 159 191 Non-government bonds 575 1,890 2,196 2,607 1 906 109 8,283 Non-government bonds 4 44 20 640 19 10 737 Structured products 41 422 51 1 5 0 520 Subtotal 2,320 3,652 3,562 5,405 1,558 953 17,450 Share (in %) 13 % 21 % 20 % 31 % 9 % 5 % 100 % Other asset categories 761 Fair value of plan assets 18,211 1 Majority of this amount relates to bonds of French, Dutch and Italian corporate bonds. |
Sensitivity Analysis on Funded Status [text block table] | Dec 31, 2018 Dec 31, 2017 in € m. Germany UK U.S. Other Germany UK U.S. Other Discount rate (–50 bp): (Increase) in DBO (840 ) (430 ) (40 ) (50 ) (875 ) (465 ) (40 ) (55 ) Expected increase in plan assets 1 235 435 35 20 215 505 35 25 Expected net impact on funded status (de-) increase (605 ) 5 (5 ) (30 ) (660 ) 40 (5 ) (30 ) Discount rate (+50 bp): Decrease in DBO 785 385 25 50 810 420 30 50 Expected (decrease) in plan assets 1 (235 ) (435 ) (35 ) (20 ) (215 ) (505 ) (35 ) (25 ) Expected net impact on funded status (de-) increase 550 (50 ) (10 ) 30 595 (85 ) (5 ) 25 Credit spread (–50 bp): (Increase) in DBO (840 ) (430 ) (75 ) (55 ) (875 ) (465 ) (85 ) (60 ) Expected increase in plan assets 1 220 125 20 10 150 125 20 10 Expected net impact on funded status (de-) increase (620 ) (305 ) (55 ) (45 ) (725 ) (340 ) (65 ) (50 ) Credit spread (+50 bp): Decrease in DBO 785 385 70 50 810 420 80 55 Expected (decrease) in plan assets 1 (220 ) (125 ) (20 ) (10 ) (150 ) (125 ) (20 ) (10 ) Expected net impact on funded status (de-) increase 565 260 50 40 660 295 60 45 Rate of price inflation (–50 bp): 2 Decrease in DBO 335 325 0 20 345 345 0 20 Expected (decrease) in plan assets 1 (190 ) (270 ) 0 (10 ) (180 ) (310 ) 0 (10 ) Expected net impact on funded status (de-) increase 145 55 0 10 165 35 0 10 Rate of price inflation (+50 bp): 2 (Increase) in DBO (345 ) (360 ) 0 (20 ) (360 ) (375 ) 0 (25 ) Expected increase in plan assets 1 190 270 0 10 180 310 0 10 Expected net impact on funded status (de-) increase (155 ) (90 ) 0 (10 ) (180 ) (65 ) 0 (15 ) Rate of real increase in future compensation Decrease in DBO, net impact on funded status 60 10 0 10 70 15 0 15 Rate of real increase in future compensation (Increase) in DBO, net impact on funded status (60 ) (10 ) 0 (15 ) (70 ) (15 ) 0 (15 ) Longevity improvements by 10 %: 3 (Increase) in DBO, net impact on funded status (295 ) (110 ) (25 ) (10 ) (305 ) (130 ) (25 ) (15 ) 1 Expected changes in the fair value of plan assets contain the simulated impact from the biggest plans in Germany, the UK, the U.S., Channel Islands, Switzerland and Belgium which cover over 99 % of the total fair value of plan assets. The fair value of plan assets for other plans is assumed to be unchanged for this presentation. 2 Incorporates sensitivity to changes in pension benefits to the extent linked to the price inflation assumption . 3 Estimated to be equivalent to an increase of around 1 year in overall life expectancy. |
Expected Cash Flows [text block table] | in € m. Expected contributions to Defined benefit plan assets BVV Pension fund for Postbank's postal civil servants Other defined contribution plans Expected benefit payments for unfunded defined benefit plans Expected total cash flow related to post-employment benefits |
Expenses for Defined Benefit Plans (Impact on Expense) [text block table] | in € m. 2018 2017 2016 Expenses for defined benefit plans: Service cost 280 345 272 Net interest cost (income) 4 9 (11 ) Total expenses defined benefit plans 284 354 261 Expenses for defined contribution plans: BVV 62 66 50 Pension fund for Postbank’s postal civil servants 88 93 95 Other defined contribution plans 271 281 284 Total expenses for defined contribution plans 421 440 429 Total expenses for post-employment benefit plans 705 794 690 Employer contributions to mandatory German social security pension plan 236 243 237 Expenses for share-based payments, equity settled 1 560 535 620 Expenses for share-based payments, cash settled 1 1 22 3 Expenses for cash retention plans 1 481 363 487 Expenses for severance payments 2 137 94 149 1 Including expenses for new hire awards and the acceleration of expenses not yet amortized due to the discontinuation of employment including those amounts which are recognized as part of the Group’s restructuring expenses. 2 Excluding the acceleration of expenses for deferred compensation awards not yet amortized. |
Income Taxes (Tables)
Income Taxes (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Income Taxes [Abstract] | |
Components of Income Tax Expense (Benefit) [text block table] | in € m. 2018 2017 Current tax expense (benefit): Tax expense (benefit) for current year 733 874 Adjustments for prior years (20 ) (145 ) Total current tax expense (benefit) 713 729 Deferred tax expense (benefit): Origination and reversal of temporary difference, unused tax losses and tax credits 316 (113 ) Effect of changes in tax law and/or tax rate (6 ) 1,437 Adjustments for prior years (34 ) (90 ) Total deferred tax expense (benefit) 276 1,234 Total income tax expense (benefit) 989 1,963 |
Analysis of the Difference between the Amount (Expected Tax Expense at Domestic Income Tax Rate vs. Actual Income Tax Expense) [text block table] | Difference between applying German statutory (domestic) income tax rate and actual income tax expense/(benefit) in € m. 2018 2017 2016 Expected tax expense (benefit) at domestic income tax rate of 31.3% (31.3% for 2017 and 31.3% for 2016) 416 384 (254 ) Foreign rate differential 8 (37 ) (38 ) Tax-exempt gains on securities and other income (209 ) (431 ) (599 ) Loss (income) on equity method investments (19 ) (21 ) (19 ) Nondeductible expenses 340 540 1,074 Impairments of goodwill 0 0 250 Changes in recognition and measurement of deferred tax assets 1 253 159 (45 ) Effect of changes in tax law and/or tax rate (6 ) 1,437 (3 ) Effect related to share-based payments 133 14 66 Effect of policyholder tax 0 0 23 Other 1 73 (82 ) 91 Actual income tax expense (benefit) 989 1,963 546 1 Current and deferred tax expense/(benefit) relating to prior years are mainly reflected in the line items “Changes in recognition and measurement of deferred tax assets” and “Other”. |
Income Tax Charged or Credited to Equity [text block table] | Income taxes charged or credited to equity (other comprehensive income/additional paid in capital) in € m. 2018 2017 2016 Actuarial gains/losses related to defined benefit plans 18 (23 ) 344 Net fair value gains (losses) attributable to credit risk related to financial (8 ) 0 0 Financial assets available for sale: Unrealized net gains/losses arising during the period 0 4 20 Net gains/losses reclassified to profit or loss 0 99 81 Financial assets mandatory at fair value through other comprehensive income: Unrealized net gains/losses arising during the period 48 0 0 Realized net gains/losses arising during the period (reclassified to profit or loss) 86 0 0 Derivatives hedging variability of cash flows: Unrealized net gains/losses arising during the period 1 4 (14 ) Net gains/losses reclassified to profit or loss 0 42 1 Other equity movement: Unrealized net gains/losses arising during the period 91 2 (71 ) Net gains/losses reclassified to profit or loss 2 (5 ) 100 Income taxes (charged) credited to other comprehensive income 238 123 461 Other income taxes (charged) credited to equity 1 73 93 |
Major Components of Gross Deferred Income Tax Assets and Liabilities [text block table] | Major components of the Group’s gross deferred tax assets and liabilities in € m. Dec 31, 2018 1 Dec 31, 2017 1 Deferred tax assets: Unused tax losses 2,934 2,985 Unused tax credits 160 387 Deductible temporary differences: Trading activities, including derivatives 2,986 3,514 Employee benefits, including equity settled share based payments 2,140 2,208 Loans and borrowings, including allowance for loans 795 1,015 Fair value OCI (IFRS 9) 33 5 Intangible Assets 119 119 Accrued interest expense 1,133 180 Other assets 886 759 Other provisions 180 271 Other liabilities 21 42 Total deferred tax assets pre offsetting 11,387 11,485 Deferred tax liabilities: Taxable temporary differences: Trading activities, including derivatives 3,038 3,794 Employee benefits, including equity settled share based payments 312 266 Loans and borrowings, including allowance for loans 345 144 Fair value OCI (IFRS 9) 52 89 Intangible Assets 453 336 Other assets 344 270 Other provisions 85 83 Other liabilities 40 50 Total deferred tax liabilities pre offsetting 4,669 5,032 1 Following the IFRS 9 int roduction the presentation was changed and a more granular break down related to th e type of tem porary differences is provided. Compara tives were adjusted accordingly . |
After Offsetting, Deferred Tax Assets and Liabilities [text block table] | Deferred tax assets and liabilities, after offsetting in € m. Dec 31, 2018 Dec 31, 2017 Presented as deferred tax assets 7,230 6,799 Presented as deferred tax liabilities 512 346 Net deferred tax assets 6,718 6,453 |
Items where no Deferred Tax Assets were recognized [text block table] | Items for which no deferred tax assets were recognized in € m. Dec 31, 2018¹ Dec 31, 2017¹ Deductible temporary differences (9 ) (34 ) Not expiring (5,738 ) (4,875 ) Expiring in subsequent period (52 ) (19 ) Expiring after subsequent period (289 ) (450 ) Unused tax losses (6,079 ) (5,344 ) Expiring after subsequent period 0 (11 ) Unused tax credits (1 ) (12 ) 1 Amounts in the table refer to deductible temporary differences, unused tax losses and tax credits for federal income tax purposes. |
Derivatives (Tables)
Derivatives (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Derivatives [Abstract] | |
Value of Derivatives held as Fair Value Hedges [text block table] | Derivatives held as fair value hedges Dec 31, 2018 2018 Dec 31, 2017 in € m. Assets Liabilities Nominal Fair Value Assets Liabilities Derivatives held as fair value hedges 5,462 975 156,025 (557 ) 5,936 562 2018 in € m. Hedge Result of fair value hedges 37 |
Fair Value Hedges [text block table] | Financial instruments designated as fair value hedges Dec 31, 2018 2018 Carrying amount of Financial Accumulated amount of Accumulated amount of Fair Value in € m. Assets Liabilities Assets Liabilities Assets Liabilities Financial assets at fair value through other comprehensive income 16,900 0 326 0 (35 ) 0 (31 ) Loans at amortized cost 8,794 0 59 0 1 0 118 Long-term debt 0 87,356 0 2,292 0 369 506 Other Assets/ Liabilities 0 0 0 0 0 0 0 |
Value of Derivatives held as Cash Flow Hedges [text block table] | Derivatives held as cash flow hedges Dec 31, 2018 2018 Dec 31, 2017 in € m. Assets Liabilities Nominal Fair Value Assets Liabilities Derivatives held as cash flow hedges 29 1 3,689 (0 ) 37 3 |
Cash Flow Hedge Balances [text block table] | Cash flow hedge b alances in € m. Dec 31, 2018 Dec 31, 2017 Dec 31, 2016 Reported in Equity 1 25 28 198 thereof relates to terminated programs 0 0 0 Gains (losses) posted to equity for the year ended (3 ) (34 ) 62 Gains (losses) removed from equity for the year ended 0 136 2 thereof relates to terminated programs 0 0 0 Changes of hedged item's value used for hedge effectiveness 0 0 0 Ineffectiveness recorded within P&L 0 0 (17 ) 1 Reported in equity refers to accumulated other comprehensive income as presented in the Consolidated Balance Sheet . |
Value of Derivatives held as Net Investment Hedges [text block table] | Derivatives held as n et i nvestment hedges Dec 31, 2018 2018 Dec 31, 2017 in € m. Assets Liabilities Nominal amount Fair Value Assets Liabilities Derivatives held as net investment hedges 718 1,710 43,456 (1,380 ) 612 904 2018 in € m. Fair value changes 1 Hedge Result of net investment hedges 1,742 (345 ) 1 Reported in equity refers to accumulated other comprehensive income as presented in the Consolidated Balance Sheet |
Profile of NIH hedging instruments [text block table] | Profile of derivatives held as net i nvestment hedges in € m. Within 1 year 1–3 years 3–5 years Over 5 years As of December 31, 2018 Nominal amount Foreign exchange forwards 28,808 110 13 0 Nominal amount Foreign exchange swaps 3,972 5,601 1,982 2,970 Total 32,780 5,711 1,995 2,970 |
Related Party Transactions (Tab
Related Party Transactions (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Related Party Transactions [Abstract] | |
Compensation Expense of Key Management Personnel [text block table] | C ompensation expe nse of key management personnel in € m. 2018 2017 2016 Short-term employee benefits 41 39 40 Post-employment benefits 10 10 9 Other long-term benefits 2 7 7 Termination benefits 32 3 0 Share-based payment 2 22 12 Total 87 81 68 |
Loans (Transactions with Subsidiaries, Joint Ventures and Associates) [text block table] | Loans in € m. 2018 2017 Loans outstanding, beginning of year 256 297 Movement in loans during the period 1 (21 ) (26 ) Changes in the group of consolidated companies 0 (1 ) Exchange rate changes/other (7 ) (15 ) Loans outstanding, end of year 2 228 256 Other credit risk related transactions: Allowance for loan losses 0 0 Provision for loan losses 0 0 Guarantees and commitments 3 9 1 Net impact of loans issued and loans repayment during the year is shown as “Movement in loans during the period”. 2 Loans past due were € 0 million as of December 31, 2018 and € 0 million as of December 31, 2017. For the total loans the Group held collateral of € 14 million and € 14 million as of December 31, 2018 and December 31, 2017, respectively. |
Deposits (Transactions with Subsidiaries, Joint Ventures and Associates) [text block table] | Deposits in € m. 2018 2017 Deposits outstanding, beginning of year 67 87 Movement in deposits during the period 1 2 (15 ) Changes in the group of consolidated companies 0 (0 ) Exchange rate changes/other (0 ) (4 ) Deposits outstanding, end of year 68 67 1 Net impact of deposits received and deposits repaid during the year is shown as “Movement in deposits during the period”. |
Summary of Transactions with Related Party Pension Plans [text block table] | T ransactions with rela ted party pension plans in € m. 2018 2017 Equity shares issued by the Group held in plan assets 1 0 Other assets 0 0 Fees paid from plan assets to asset managers of the Group 24 25 Market value of derivatives with a counterparty of the Group (692 ) (737 ) Notional amount of derivatives with a counterparty of the Group 7,325 10,150 |
Information on Subsidiaries (Ta
Information on Subsidiaries (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Information on Subsidiaries [Abstract] | |
Subsidiaries with significant non-controlling interests [text block table] | Subsidiaries with significant non-controlling interests Dec 31, 2018 Dec 31, 2017 DWS Group GmbH & Co. KGaA Proportion of ownership interests and voting rights held by non-controlling interests 20.51 % 0 % Place of business Global Global in € m Dec 31, 2018 Dec 31, 2017 Net income attributable to non-controlling interests 58 0 Accumulated non-controlling interests of the subsidiary 1,355 0 Dividends paid to non-controlling interests 0 0 Summarised financial information: Total assets 10,694 11,226 Total liabilities 4,155 4,860 Total net revenues 2,259 2,509 Net income (loss) 391 634 Total comprehensive income (loss), net of tax 589 604 |
Carrying Amounts of Assets and Liabilities to which Restrictions Apply [text block table] | Restricted assets Dec 31, 2018 Dec 31, 2017 in € m. Total Restricted Total Restricted Interest-earning deposits with banks 176,022 188 210,481 772 Financial assets at fair value through profit or loss 573,344 48,320 636,970 58,210 Financial assets available for sale N/A N/A 49,397 9,915 Financial assets at fair value through other comprehensive income 51,182 4,375 N/A N/A Loans at amortized cost 400,297 76,573 401,699 71,971 Other 147,293 1,991 176,186 13,594 Total 1,348,137 131,447 1,474,732 154,462 |
Structured Entities (Tables)
Structured Entities (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Structured Entities [Abstract] | |
Carrying amounts of assets & liabilities recognised in its financial statements relating to DBs interests [text block table] | Carrying amounts and size relating to Deutsche Bank’s interests Dec 31, 2018 in € m. Repacka- Third Party Securiti- Funds Total Assets Cash and central bank balances 0 0 0 0 0 Interbank balances (w/o central banks) 1 14 0 28 43 Central bank funds sold and securities 0 508 8 1,397 1,913 Securities Borrowed 0 0 0 461 461 Total financial assets at fair value 342 4,578 5,956 77,166 88,041 Trading assets 244 3,480 4,567 9,297 17,587 Positive market values 98 571 122 6,516 7,308 Non-trading financial assets mandatory at fair value through profit or loss 0 0 0 0 0 Financial assets designated at fair 0 526 1,266 61,353 63,145 Financial assets at fair value through other comprehensive income 0 286 240 832 1,358 Financial assets available for sale N/A N/A N/A N/A N/A Loans at amortized cost 220 40,552 27,322 8,370 76,464 Other assets 5 519 216 10,464 11,203 Total assets 568 46,456 33,741 98,719 179,483 Liabilities Total financial liabilities at fair value 102 56 3 15,482 15,644 Negative market values 102 56 3 15,482 15,644 Other short-term borrowings 0 0 0 6,596 6,596 Total liabilities 102 56 3 22,078 22,240 Off-balance sheet exposure 0 4,363 9,524 3,028 16,915 Total 466 50,762 43,261 79,668 174,158 Size of structured entity 2,514 60,525 284,181 2,970,958 Dec 31, 2017 in € m. Repacka- Third Party Securiti- Funds Total Assets Cash and central bank balances 0 0 0 0 0 Interbank balances (w/o central banks) 63 0 0 270 333 Central bank funds sold and securities 105 229 18 1,827 2,178 Securities Borrowed 0 13 0 11,065 11,078 Total financial assets at fair value 569 4,057 5,445 60,057 70,128 Trading assets 349 3,490 5,130 12,380 21,349 Positive market values 175 553 105 8,670 9,504 Non-trading financial assets mandatory at fair value through profit or loss N/A N/A N/A N/A N/A Financial assets designated at fair 44 13 210 39,007 39,275 Financial assets at fair value through other comprehensive income N/A N/A N/A N/A N/A Financial assets available for sale 0 1,039 384 730 2,153 Loans at amortized cost 146 37,352 18,533 18,050 74,081 Other assets 50 192 173 21,087 21,502 Total assets 934 42,882 24,552 113,085 181,453 Liabilities Total financial liabilities at fair value 120 73 41 13,486 13,720 Negative market values 120 73 41 13,486 13,720 Other short-term borrowings 0 0 0 9,533 9,533 Total liabilities 120 73 41 23,019 23,253 Off-balance sheet exposure 0 10,079 9,256 8,377 1 27,712 1 Total 814 52,888 33,767 98,443 1 185,912 1 Size of structured entity 6,833 90,664 281,826 2,181,810 1 The comparatives have been adjusted . |
Regulatory Capital Information
Regulatory Capital Information (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Regulatory Capital Information [Abstract] | |
Transitional template for regulatory capital RWA and capital ratios [text block table] | Own Funds Template (incl. RWA and c apital r atios) Dec 31, 2018 Dec 31, 2017 in € m. CRR/CRD 4 1 CRR/CRD 4 Common Equity Tier 1 (CET 1) capital: instruments and reserves Capital instruments, related share premium accounts and other reserves 2 45,515 45,195 Retained earnings 16,297 17,977 Accumulated other comprehensive income (loss), net of tax 382 660 Independently reviewed interim profits net of any foreseeable charge or dividend 3 0 (751 ) Other 2 846 33 Common Equity Tier 1 (CET 1) capital before regulatory adjustments 63,041 63,114 Common Equity Tier 1 (CET 1) capital: regulatory adjustments Additional value adjustments (negative amount) (1,504 ) (1,204 ) Other prudential filters (other than additional value adjustments) (329 ) (74 ) Goodwill and other intangible assets (net of related tax liabilities) (negative amount) (8,566 ) (6,715 ) Deferred tax assets that rely on future profitability excluding those arising from (2,758 ) (2,403 ) Negative amounts resulting from the calculation of expected loss amounts 4 (367 ) (408 ) Defined benefit pension fund assets (negative amount) (1,111 ) (900 ) Direct, indirect and synthetic holdings by an institution of own CET 1 instruments (negative amount) (25 ) (117 ) Direct, indirect and synthetic holdings by the institution of the CET 1 instruments of financial sector entities where the institution has a significant investment in those entities (amount above the 10 % / 15 % thresholds and net of eligible short positions) (negative amount) 0 0 Deferred tax assets arising from temporary differences (net of related tax liabilities where the conditions in Art. 38 (3) CRR are met) (amount above the 10 % / 15 % thresholds) (negative amount) 0 0 Other regulatory adjustments 5 (895 ) (485 ) Total regulatory adjustments to Common Equity Tier 1 (CET 1) capital (15,555 ) (12,306 ) Common Equity Tier 1 (CET 1) capital 47,486 50,808 Additional Tier 1 (AT1) capital: instruments Capital instruments and the related share premium accounts 4,676 4,676 Amount of qualifying items referred to in Art. 484 (4) CRR and the related share 3,009 3,904 Additional Tier 1 (AT1) capital before regulatory adjustments 7,685 8,579 Additional Tier 1 (AT1) capital: regulatory adjustments Direct, indirect and synthetic holdings by an institution of own AT1 instruments (negative amount) (80 ) (26 ) Residual amounts deducted from AT1 capital with regard to deduction from CET 1 capital during the transitional period pursuant to Art. 472 CRR N/M (1,730 ) Other regulatory adjustments 0 0 Total regulatory adjustments to Additional Tier 1 (AT1) capital (80 ) (1,756 ) Additional Tier 1 (AT1) capital 7,604 6,823 Tier 1 capital (T1 = CET 1 + AT1) 55,091 57,631 Tier 2 (T2) capital 6,202 6,384 Total capital (TC = T1 + T2) 61,292 64,016 Total risk-weighted assets 350,432 343,316 Common Equity Tier 1 capital ratio (as a percentage of risk-weighted assets) 13.6 14.8 Tier 1 capital ratio (as a percentage of risk-weighted assets) 15.7 16.8 Total capital ratio (as a percentage of risk-weighted assets) 17.5 18.6 N/M – Not meaningful 1 With effect from January 1, 2018, the CRR/CRD 4 “transitional” (or “phase-in”) rules under which CET 1 regulatory adjustments were phased in have reached a rate of 100 % , together with the 100 % phase-out rate of minority interest only recognizable under the transitional rules. 2 Our IPO of DWS led to a € 0.9 billion CET 1 contribution which is reflected in ‘Capital instruments, related share premium accounts and other reserves’ at € 0.1 billion and minority interest in ‘Other’ at € 0.8 billion . 3 No interim profits to be recognized as per ECB Decision (EU) 2015/656 in accordance with the Article 26(2) of Regulation (EU) No 575/2013 (ECB/2015/4) . 4 Based on Article 159 CRR and recent guidance provided by EBA (Q&A 2017_3426) published on January 18, 2019 only unearned credit spread additional value adjustments are used as specific credit risk adjustments. 5 Includes € 0.6 billion capital deduction effective from January 2018 onwards, based on ECB guidance and following the EBA Guidelines on irrevocable payment commitments related to the Single Resolution Fund and the Deposit Guarantee Scheme. Further includes capital deduction of € 0.3 billion that was imposed on Deutsche Bank effective from October 2016 onwards based on a notification by the ECB pursuant to Article 16(1)(c) and 16(2)(d) of Regulation (EU) No 1024/2013. |
Reconciliation of Shareholders Equity to Regulatory Capital [text block table] | Reconciliation of shareholders’ equity to regulatory capital CRR/CRD 4 in € m. Dec 31, 2018 Dec 31, 2017 Total shareholders’ equity per accounting balance sheet 1 62,495 63,174 Deconsolidation/Consolidation of entities (33 ) (58 ) Of which: Additional paid-in capital (12 ) (6 ) Retained earnings (150 ) (228 ) Accumulated other comprehensive income (loss), net of tax 130 176 Total shareholders' equity per regulatory balance sheet 62,462 63,116 Minority Interests (amount allowed in consolidated CET 1) 1 846 33 Accrual for dividend and AT1 coupons 2 (267 ) 0 Reversal of deconsolidation/consolidation of the position Accumulated other comprehensive income (loss), 0 (35 ) Common Equity Tier 1 (CET 1) capital before regulatory adjustments 63,041 63,114 Additional value adjustments (1,504 ) (1,204 ) Other prudential filters (other than additional value adjustments) (329 ) (74 ) Regulatory adjustments relating to unrealized gains and losses pursuant to Art. 467 and 468 CRR 0 (144 ) Goodwill and other intangible assets (net of related tax liabilities) (8,566 ) (6,715 ) Deferred tax assets that rely on future profitability (2,758 ) (2,403 ) Defined benefit pension fund assets (1,111 ) (900 ) Direct, indirect and synthetic holdings by the institution of the CET 1 instruments of financial sector entities 0 0 Other regulatory adjustments (1,287 ) (866 ) Common Equity Tier 1 capital 47,486 50,808 1 Our IPO of DWS led to a € 0.9 billion CET 1 contribution which is reflected in the ‘Total shareholders’ equity per accounting balance sheet’ at € 0.1 billion and ‘Minority interests’ at € 0.8 billion . 2 No interim profits to be recognized as per ECB Decision (EU) 2015/656 in accordance with the Article 26(2) of Regulation (EU) No 575/2013 (ECB/2015/4) . |
Condensed Deutsche Bank AG (D_2
Condensed Deutsche Bank AG (Deutsche Bank AG) Financial Information (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Condensed Deutsche Bank AG (Parent Company only) Financial Information [Abstract] | |
Condensed Statement of Income (Parent Company only) [text block table] | Condensed Statement of Income in € m. 2018 2017 2016 Interest income, excluding dividends from subsidiaries 16,326 15,339 14,247 Dividends received from subsidiaries: Bank subsidiaries 2,511 1,185 1,042 Nonbank subsidiaries 2,064 1,962 2,935 Interest expense 9,700 9,575 7,947 Net interest and dividend income 11,201 8,912 10,278 Provision for credit losses 102 675 872 Net interest and dividend income after provision for credit losses 11,099 8,237 9,406 Noninterest income: Commissions and fee income 3,223 3,721 4,145 Net gains (losses) on financial assets/liabilities at fair value through profit or loss 1,436 2,789 1,791 Other income (loss) 1 (344 ) (744 ) (606 ) Total noninterest income 4,315 5,766 5,330 Noninterest expenses: Compensation and benefits 4,921 5,123 5,137 General and administrative expenses 6,070 6,347 7,524 Services provided by (to) affiliates, net 1,670 1,426 1,263 Impairment of goodwill and other intangible assets 0 6 14 Total noninterest expenses 12,661 12,902 13,938 Income (loss) before income taxes 2,753 1,101 797 Income tax expense (benefit) (122 ) (90 ) 161 Net income (loss) attributable to Deutsche Bank shareholders and additional equity components 2,875 1,191 636 1 Includes net gains (losses) on financial assets mandatory at fair value through other comprehensive income (in 2017 and 2016 on financial assets available for sale) and impairments/write-ups on investments in subsidiaries . Condensed Statement of Comprehensive Income in € m. 2018 2017 2016 Net income (loss) attributable to Deutsche Bank shareholders and additional equity components 2,875 1,191 636 Other comprehensive income (loss), net of tax 102 (2,486 ) 360 Total comprehensive income (loss), net of tax 2,977 (1,295 ) 996 |
Condensed Balance Sheet (Parent Company only) [text block table] | Condensed Balance Sheet in € m. Dec 31, 2018 Dec 31, 2017 Assets: Cash and central bank balances: 140,841 176,661 Interbank balances (w/o central banks): Bank subsidiaries 19,543 27,110 Other 5,037 5,801 Central bank funds sold, securities purchased under resale agreements, securities borrowed: Bank subsidiaries 1,135 4,170 Nonbank subsidiaries 39,415 36,287 Other 8,454 10,497 Financial assets at fair value through profit or loss: Bank subsidiaries 5,573 6,508 Nonbank subsidiaries 3,973 5,010 Other 492,156 550,182 Financial assets at fair value through other comprehensive income 38,450 0 Financial assets available for sale 0 28,441 Investments in associates 288 290 Investment in subsidiaries: Bank subsidiaries 20,155 12,242 Nonbank subsidiaries 28,117 36,170 Loans: Bank subsidiaries 31,393 37,974 Nonbank subsidiaries 47,156 52,687 Other 150,153 151,912 Other assets: Bank subsidiaries 3,352 1,480 Nonbank subsidiaries 16,427 11,145 Other 77,570 90,263 Total assets 1,129,187 1,244,828 Liabilities and equity: Deposits: Bank subsidiaries 64,413 81,504 Nonbank subsidiaries 19,745 20,562 Other 287,444 307,162 Central bank funds purchased, securities sold under repurchase agreements and securities loaned: Bank subsidiaries 654 640 Nonbank subsidiaries 35,587 29,129 Other 7,491 16,766 Financial liabilities at fair value through profit or loss: Bank subsidiaries 5,078 5,423 Nonbank subsidiaries 2,461 2,531 Other 378,940 439,264 Other short-term borrowings: Bank subsidiaries 158 195 Nonbank subsidiaries 2,414 424 Other 13,672 17,766 Other liabilities: Bank subsidiaries 1,447 851 Nonbank subsidiaries 10,020 8,067 Other 100,413 107,830 Long-term debt 134,872 144,998 Total liabilities 1,064,808 1,183,113 Total shareholders’ equity 59,704 57,039 Additional equity components 4,675 4,675 Total equity 64,379 61,715 Total liabilities and equity 1,129,187 1,244,828 |
Condensed Statement of Cash Flows (Parent Company only) [text block table] | Condensed Statement of Cash Flows in € m. 2018 2017 2016 Net cash provided by (used in) operating activities (47,850 ) 40,931 25,873 Cash flows from investing activities: Proceeds from: Sale of financial assets at fair value through other comprehensive income 11,592 N/A N/A Maturities of financial assets at fair value through other comprehensive income 23,572 N/A N/A Sale of debt securities held to collect at amortized cost 93 N/A N/A Maturities of debt securities held to collect at amortized cost 58 N/A N/A Sale of financial assets available for sale N/A 7,627 22,205 Maturities of financial assets available for sale N/A 3,433 4,530 Maturities of securities held to maturity N/A 0 0 Sale of equity method investments 5 65 12 Sale of property and equipment 13 39 8 Purchase of: Financial assets at fair value through other comprehensive income (34,586 ) N/A N/A Debt Securities held to collect at amortized cost (129 ) N/A N/A Financial assets available for sale N/A (9,741 ) (15,150 ) Securities held to maturity N/A 0 0 Investments in associates 0 0 (11 ) Property and equipment (212 ) (261 ) (284 ) Net change in investments in subsidiaries 289 (2,222 ) (1,619 ) Other, net (1,024 ) (1,129 ) (1,360 ) Net cash provided by (used in) investing activities (329 ) (2,189 ) 8,331 Cash flows from financing activities: Issuances of subordinated long-term debt 10 865 792 Repayments and extinguishments of subordinated long-term debt (253 ) (45 ) (102 ) Issuances of trust preferred securities 0 0 1 Repayments and extinguishments of trust preferred securities 0 0 (2 ) Common shares issued 0 8,037 0 Purchases of treasury shares (4,119 ) (7,912 ) (5,256 ) Sale of treasury shares 3,925 7,471 4,979 Additional Equity Components (AT1) issued 0 0 0 Purchases of Additional Equity Components (AT1) (123 ) (149 ) (129 ) Sale of Additional Equity Components (AT1) 120 160 124 Coupon on additional equity components, pre tax (315 ) (335 ) (333 ) Cash dividends paid (227 ) (392 ) 0 Net cash provided by (used in) financing activities (982 ) 7,700 74 Net effect of exchange rate changes on cash and cash equivalents 1,243 (3,499 ) 187 Net increase (decrease) in cash and cash equivalents (47,918 ) 42,943 34,465 Cash and cash equivalents at beginning of period 187,759 144,816 110,351 Cash and cash equivalents at end of period 139,841 187,759 144,816 Net cash provided by (used in) operating activities include Income taxes paid (received), net (224 ) 258 (974 ) Interest paid 9,793 9,563 7,871 Interest received 19,660 15,308 14,346 Dividends received 2,957 4,098 1 1,800 1 Cash and cash equivalents comprise Cash and central bank balances (not included Interest-earning time deposits with central banks) 127,871 175,463 119,213 Interbank balances (w/o central banks) 11,970 12,296 25,603 Total 139,841 187,759 144,816 1 Prior year data adjusted due to refinement in the methodology. |
Parent Company Long-Term Debt (Parent Company only) [text block table] | Parent Company’s Long-Term Debt by Remaining Maturities By remaining maturities Due in Due in Due in Due in Due in Due after Total Total in € m. Senior debt: Bonds and notes: Fixed rate 13,916 7,502 14,632 6,227 5,960 13,815 62,053 59,517 Floating rate 8,061 4,540 5,339 3,553 2,321 6,844 30,658 33,142 Subordinated debt Bonds and notes: Fixed rate 3,239 1,135 0 0 0 2,858 7,232 9,769 Floating rate 0 180 0 0 1,202 476 1,858 1,934 Other 20,809 2,206 1,324 490 838 7,404 33,072 40,636 Total long-term debt 46,025 15,563 21,295 10,271 10,321 31,396 134,872 144,998 |
SEC Registered Trust Preferre_2
SEC Registered Trust Preferred Securities (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
SEC Registered Trust Preferred Securities [Abstract] | |
Issuance of Trust Preferred Securities [text block table] | Issuances of SEC Registered Trust Preferred Securities Trust LLC Issuance Date Next Parent Long-term Debt 1 Deutsche Bank Contingent Capital Trust II Deutsche Bank May 23, 2007 May 23, 2019 € 699 million Deutsche Bank Contingent Capital Trust V Deutsche Bank May 9, 2008 2 March 30, 2019 € 1,210 million 1 Amount of long term-debt of the Parent Company represented by the Debt Obligations issued by Deutsche Bank AG to the applicable LLC and amount of Trust Preferred Securities of Deutsche Bank AG Consolidated represented by the Trust Preferred Securities issued by the respective Trust as of December 31, 2018. 2 On March 30, 2010 Deutsche Bank AG additionally issued an amount of U.S.$ 120 million . |
Key Metrics (Detail)
Key Metrics (Detail) | Dec. 31, 2018EUR (€) | |
IAS 39 [Member] | ||
Key Ratios [Line Items] | ||
IFRS Total shareholders equity | € 63,174 | |
Common Equity Tier 1 capital fully loaded | 48,300 | |
Risk-weighted assets | 344 | |
Tier 1 Capital fully loaded | € 52,921 | |
CET 1 ratio fully loaded | 14.00% | |
CRD 4 leverage exposure measure (spot value at reporting date) | € 1,395 | |
Leverage Ratio fully loaded | 4.00% | |
Leverage Ratio phase-in | 4.10% | |
IFRS 9 [Member] | ||
Key Ratios [Line Items] | ||
IFRS Total shareholders equity | € 62,503 | [1] |
Common Equity Tier 1 capital fully loaded | 47,907 | [1] |
Risk-weighted assets | 345 | [1] |
Tier 1 Capital fully loaded | € 52,528 | [1] |
CET 1 ratio fully loaded | 14.00% | [1] |
CRD 4 leverage exposure measure (spot value at reporting date) | € 1,395 | [1] |
Leverage Ratio fully loaded | 4.00% | [1] |
Leverage Ratio phase-in | 4.10% | |
Impact [Member] | ||
Key Ratios [Line Items] | ||
IFRS Total shareholders equity | € (671) | |
Common Equity Tier 1 capital fully loaded | (393) | |
Risk-weighted assets | 1 | |
Tier 1 Capital fully loaded | € (393) | |
CET 1 ratio fully loaded | (13.00%) | [2] |
CRD 4 leverage exposure measure (spot value at reporting date) | € 0 | |
Leverage Ratio fully loaded | (3.00%) | [2] |
Leverage Ratio phase-in | (3.00%) | |
[1] | Pro forma. | |
[2] | In bps. |
Key Metrics (Detail_ Text Value
Key Metrics (Detail: Text Values) - Impact [Member] | Dec. 31, 2018EUR (€) |
Key Ratios [Line Items] | |
IFRS Total shareholders equity | € (671,000,000) |
of which: tax benefit | € 199,000,000 |
Impact on Regulatory Capital, R
Impact on Regulatory Capital, RWA, and Leverage Exposure 1 Fully Loaded (Detail) - Fully loaded [Member] € in Millions | Dec. 31, 2018EUR (€) | |
Total shareholders equity [Member] | ||
Impact on Regulatory Capital, RWA, and Leverage Exposure 1 [Line Items] | ||
Balance, beginning of period | € 63,174 | |
IFRS 9 changes from | (870) | |
Classification and Measurement | (193) | |
Impairments | (677) | |
Tax effects from | 199 | |
Classification and Measurement | 65 | |
Impairments | 134 | |
IFRS 9 impact net of tax | (671) | |
Changes to regulatory deductions | ||
Balance, end of period | 62,503 | [1] |
Common EquityTier 1 capital fully loaded [Member] | ||
Impact on Regulatory Capital, RWA, and Leverage Exposure 1 [Line Items] | ||
Balance, beginning of period | 48,300 | |
IFRS 9 changes from | (870) | |
Classification and Measurement | (193) | |
Impairments | (677) | |
Tax effects from | 199 | |
Classification and Measurement | 65 | |
Impairments | 134 | |
IFRS 9 impact net of tax | (671) | |
Changes to regulatory deductions | ||
Negative amounts from the calculation of expected loss amounts | 278 | |
Balance, end of period | 47,907 | [1] |
Tier 1 Capital fully loaded [Member] | ||
Impact on Regulatory Capital, RWA, and Leverage Exposure 1 [Line Items] | ||
Balance, beginning of period | 52,921 | |
IFRS 9 changes from | (870) | |
Classification and Measurement | (193) | |
Impairments | (677) | |
Tax effects from | 199 | |
Classification and Measurement | 65 | |
Impairments | 134 | |
IFRS 9 impact net of tax | (671) | |
Changes to regulatory deductions | ||
Negative amounts from the calculation of expected loss amounts | 278 | |
Balance, end of period | € 52,528 | [1] |
[1] | Pro forma. |
Impact on Regulatory Capital,_2
Impact on Regulatory Capital, RWA, and Leverage Exposure 1 Fully loaded (Detail: Text Values) | Dec. 31, 2018 |
Fully loaded [Member] | Common EquityTier 1 capital fully loaded [Member] | |
Impact on Regulatory Capital, RWA, and Leverage Exposure 1 [Line Items] | |
Phase-in percentage according to CRR transitional rules considered in pro forma view | 80.00% |
Impact on Regulatory Capital,_3
Impact on Regulatory Capital, RWA, and Leverage Exposure 2 Fully Loaded (Detail) - Fully loaded [Member] € in Billions | Dec. 31, 2018EUR (€) | |
Risk Weighted Assets [Member] | ||
Impact on Regulatory Capital, RWA, and Leverage Exposure 2 [Line Items] | ||
Balance, beginning of period | € 344 | |
Changes from | 0 | |
DTA RWA / Change of Total Assets | 1 | |
SA RWA/ Lower Deductions | 0 | |
Balance, end of period | € 345 | [1] |
Ratios, beginning of period | 14.00% | |
Ratios, end of period | 13.90% | [1] |
Changes in bps | (13) | |
Leverage Exposure [Member] | ||
Impact on Regulatory Capital, RWA, and Leverage Exposure 2 [Line Items] | ||
Balance, beginning of period | € 1,395 | |
Changes from | 0 | |
DTA RWA / Change of Total Assets | (1) | |
SA RWA/ Lower Deductions | 0 | |
Balance, end of period | € 1,395 | [1] |
Ratios, beginning of period | 3.80% | |
Ratios, end of period | 3.80% | [1] |
Changes in bps | (3) | |
[1] | Pro forma. |
Impact on Regulatory Capital,_4
Impact on Regulatory Capital, RWA, and Leverage Exposure 1 Transitional rules (Detail) - Transitional rules [Member] € in Millions | Dec. 31, 2018EUR (€) | |
Total shareholders equity [Member] | ||
Impact on Regulatory Capital, RWA, and Leverage Exposure 1 [Line Items] | ||
Balance, beginning of period | € 63,174 | |
IFRS 9 changes from | (870) | |
Classification and Measurement | (193) | |
Impairments | (677) | |
Tax effects from | 199 | |
Classification and Measurement | 65 | |
Impairments | 134 | |
IFRS 9 impact net of tax | (671) | |
Changes to regulatory deductions | ||
Balance, end of period | 62,503 | [1] |
Common EquityTier 1 capital fully loaded [Member] | ||
Impact on Regulatory Capital, RWA, and Leverage Exposure 1 [Line Items] | ||
Balance, beginning of period | 50,808 | |
IFRS 9 changes from | (870) | |
Classification and Measurement | (193) | |
Impairments | (677) | |
Tax effects from | 199 | |
Classification and Measurement | 65 | |
Impairments | 134 | |
IFRS 9 impact net of tax | (671) | |
Changes to regulatory deductions | ||
Negative amounts from the calculation of expected loss amounts | 223 | |
Balance, end of period | 50,359 | [1],[2] |
Tier 1 Capital fully loaded [Member] | ||
Impact on Regulatory Capital, RWA, and Leverage Exposure 1 [Line Items] | ||
Balance, beginning of period | 57,631 | |
IFRS 9 changes from | (870) | |
Classification and Measurement | (193) | |
Impairments | (677) | |
Tax effects from | 199 | |
Classification and Measurement | 65 | |
Impairments | 134 | |
IFRS 9 impact net of tax | (671) | |
Changes to regulatory deductions | ||
Negative amounts from the calculation of expected loss amounts | 278 | |
Balance, end of period | € 57,238 | [1] |
[1] | Pro forma. | |
[2] | Pro forma view considering 80% phase-in according to CRR transitional rules. |
Impact on Regulatory Capital,_5
Impact on Regulatory Capital, RWA, and Leverage Exposure 2 Transitional rules (Detail) - Transitional rules [Member] € in Billions | Dec. 31, 2018EUR (€) | |
Risk Weighted Assets [Member] | ||
Impact on Regulatory Capital, RWA, and Leverage Exposure 2 [Line Items] | ||
Balance, beginning of period | € 343 | |
Changes from | 0 | |
DTA RWA / Change of Total Assets | 1 | |
SA RWA/ Lower Deductions | 0 | |
Balance, end of period | € 344 | [1] |
Ratios, beginning of period | 14.80% | |
Ratios, end of period | 14.60% | [1] |
Changes in bps | (15) | |
Leverage Exposure [Member] | ||
Impact on Regulatory Capital, RWA, and Leverage Exposure 2 [Line Items] | ||
Balance, beginning of period | € 1,396 | |
Changes from | 0 | |
DTA RWA / Change of Total Assets | 0 | |
SA RWA/ Lower Deductions | 0 | |
Balance, end of period | € 1,396 | [1] |
Ratios, beginning of period | 4.10% | |
Ratios, end of period | 4.10% | [1] |
Changes in bps | (3) | |
[1] | Pro forma. |
Credit Risk Profile by Business
Credit Risk Profile by Business Division (Detail) - EUR (€) € in Millions | Dec. 31, 2018 | Dec. 31, 2017 |
Credit Risk Profile by Business Division [Line Items] | ||
Loans under credit risk profile | € 433,832 | € 423,984 |
Off-balance sheet under credit risk profile | 263,654 | 252,331 |
OTC derivates under credit risk profile | 27,417 | 31,430 |
Debt securities under credit risk profile | 142,857 | 142,986 |
Repo and repostyle transactions under credit risk profile | 81,467 | 104,800 |
Total credit risk profile | 949,227 | 955,531 |
Corporate & Investment Bank [Member] | ||
Credit Risk Profile by Business Division [Line Items] | ||
Loans under credit risk profile | 164,163 | 153,473 |
Off-balance sheet under credit risk profile | 217,203 | 206,021 |
OTC derivates under credit risk profile | 27,028 | 30,993 |
Debt securities under credit risk profile | 90,062 | 86,272 |
Repo and repostyle transactions under credit risk profile | 76,032 | 99,335 |
Total credit risk profile | 574,488 | 576,094 |
Private & Commercial Bank [Member] | ||
Credit Risk Profile by Business Division [Line Items] | ||
Loans under credit risk profile | 269,384 | 270,398 |
Off-balance sheet under credit risk profile | 45,969 | 46,082 |
OTC derivates under credit risk profile | 353 | 422 |
Debt securities under credit risk profile | 12,387 | 14,421 |
Repo and repostyle transactions under credit risk profile | 260 | 835 |
Total credit risk profile | 328,353 | 332,158 |
Asset Management [Member] | ||
Credit Risk Profile by Business Division [Line Items] | ||
Loans under credit risk profile | 68 | 87 |
Off-balance sheet under credit risk profile | 131 | 69 |
OTC derivates under credit risk profile | 0 | 0 |
Debt securities under credit risk profile | 419 | 106 |
Repo and repostyle transactions under credit risk profile | 0 | 0 |
Total credit risk profile | 618 | 262 |
Corporate & Other [Member] | ||
Credit Risk Profile by Business Division [Line Items] | ||
Loans under credit risk profile | 216 | 26 |
Off-balance sheet under credit risk profile | 351 | 159 |
OTC derivates under credit risk profile | 37 | 15 |
Debt securities under credit risk profile | 39,989 | 42,187 |
Repo and repostyle transactions under credit risk profile | 5,175 | 4,630 |
Total credit risk profile | € 45,768 | € 47,017 |
Classification and Measurement
Classification and Measurement (Detail) € in Millions | Dec. 31, 2018EUR (€) |
IFRS 9 Transition closing balance [Member] | |
Fair value through profit or loss [Abstract] | |
From Available for Sale (IAS 39) | € 0 |
From Amortized Cost (IAS 39) | 0 |
To Amortised Cost (IFRS 9) | 0 |
To Fair Value through Other Comprehensive Income (IRFS 9) | 0 |
Total Fair Value through Profit or Loss | 636,970 |
Financial assets at fair value through other comprehensive income [Abstract] | |
From Available for Sale (IAS 39) | 0 |
From Amortized Cost (IAS 39) | 0 |
From Fair Value through Profit or Loss (IAS 39) | 0 |
To Amortised Cost (IFRS 9) | 0 |
To Fair Value through Profit or Loss (IFRS 9) | 0 |
Total financial assets at fair value through other comprehensive income | 0 |
Amortised Cost [Abstract] | |
From Amortized Cost (IAS 39) | 0 |
From Available for Sale (IAS 39) | 0 |
From Fair Value through Profit or Loss (IAS 39) | 0 |
To Fair Value through Other Comprehensive Income | 0 |
To Fair Value through Profit or Loss (IFRS 9) | 0 |
Total Amortised Cost | 780,721 |
Tax Assets | 8,396 |
Available for Sale (IAS 39) | 49,397 |
Held to Maturity (IAS 39) | 3,170 |
Total Financial Asset balances affected by IFRS 9, Reclassifications and Remeasurements | 1,478,654 |
Reclassifications [Member] | |
Fair value through profit or loss [Abstract] | |
From Available for Sale (IAS 39) | 2,535 |
From Amortized Cost (IAS 39) | 41,914 |
To Amortised Cost (IFRS 9) | (5,900) |
To Fair Value through Other Comprehensive Income (IRFS 9) | (6,508) |
Total Fair Value through Profit or Loss | 32,041 |
Financial assets at fair value through other comprehensive income [Abstract] | |
From Available for Sale (IAS 39) | 41,219 |
From Amortized Cost (IAS 39) | 9,943 |
From Fair Value through Profit or Loss (IAS 39) | 6,508 |
To Amortised Cost (IFRS 9) | 0 |
To Fair Value through Profit or Loss (IFRS 9) | 0 |
Total financial assets at fair value through other comprehensive income | 57,671 |
Amortised Cost [Abstract] | |
From Amortized Cost (IAS 39) | 0 |
From Available for Sale (IAS 39) | 5,642 |
From Fair Value through Profit or Loss (IAS 39) | 5,900 |
To Fair Value through Other Comprehensive Income | (6,773) |
To Fair Value through Profit or Loss (IFRS 9) | (41,914) |
Total Amortised Cost | (37,145) |
Tax Assets | 0 |
Available for Sale (IAS 39) | (49,397) |
Held to Maturity (IAS 39) | (3,170) |
Total Financial Asset balances affected by IFRS 9, Reclassifications and Remeasurements | 0 |
Remeasurement [Member] | |
Fair value through profit or loss [Abstract] | |
From Available for Sale (IAS 39) | (3) |
From Amortized Cost (IAS 39) | (3) |
To Amortised Cost (IFRS 9) | 0 |
To Fair Value through Other Comprehensive Income (IRFS 9) | 0 |
Total Fair Value through Profit or Loss | (6) |
Financial assets at fair value through other comprehensive income [Abstract] | |
From Available for Sale (IAS 39) | (104) |
From Amortized Cost (IAS 39) | 64 |
From Fair Value through Profit or Loss (IAS 39) | 0 |
To Amortised Cost (IFRS 9) | 0 |
To Fair Value through Profit or Loss (IFRS 9) | 0 |
Total financial assets at fair value through other comprehensive income | (40) |
Amortised Cost [Abstract] | |
From Amortized Cost (IAS 39) | 0 |
From Available for Sale (IAS 39) | 24 |
From Fair Value through Profit or Loss (IAS 39) | (184) |
To Fair Value through Other Comprehensive Income | 0 |
To Fair Value through Profit or Loss (IFRS 9) | 0 |
Total Amortised Cost | (159) |
Tax Assets | 230 |
Available for Sale (IAS 39) | 0 |
Held to Maturity (IAS 39) | 0 |
Total Financial Asset balances affected by IFRS 9, Reclassifications and Remeasurements | 24 |
IFRS 9 Transition opening balance [Member] | |
Fair value through profit or loss [Abstract] | |
From Available for Sale (IAS 39) | 0 |
From Amortized Cost (IAS 39) | 0 |
To Amortised Cost (IFRS 9) | 0 |
To Fair Value through Other Comprehensive Income (IRFS 9) | 0 |
Total Fair Value through Profit or Loss | 669,004 |
Financial assets at fair value through other comprehensive income [Abstract] | |
From Available for Sale (IAS 39) | 0 |
From Amortized Cost (IAS 39) | 0 |
From Fair Value through Profit or Loss (IAS 39) | 0 |
To Amortised Cost (IFRS 9) | 0 |
To Fair Value through Profit or Loss (IFRS 9) | 0 |
Total financial assets at fair value through other comprehensive income | 57,631 |
Amortised Cost [Abstract] | |
From Amortized Cost (IAS 39) | 0 |
From Available for Sale (IAS 39) | 0 |
From Fair Value through Profit or Loss (IAS 39) | 0 |
To Fair Value through Other Comprehensive Income | 0 |
To Fair Value through Profit or Loss (IFRS 9) | 0 |
Total Amortised Cost | 743,417 |
Tax Assets | 8,626 |
Available for Sale (IAS 39) | 0 |
Held to Maturity (IAS 39) | 0 |
Total Financial Asset balances affected by IFRS 9, Reclassifications and Remeasurements | € 1,478,678 |
Impairment (Detail)
Impairment (Detail) € in Millions | Dec. 31, 2018EUR (€) |
IAS 39 Allowance for On-and Off- Balance Sheet positions | |
Financial assets at fair value through profit or loss [Abstract] | |
From Available for Sale (IAS 39) | € 0 |
From Amortized Cost (IAS 39) | 0 |
To amortised cost (IFRS 9) | 0 |
To Fair Value through Other Comprehensive Income (IRFS 9) | 0 |
Total financial assets at fair value through profit or loss | 0 |
Financial assets at fair value through other comprehensive income [Abstract] | |
From Available for Sale (IAS 39) | 0 |
From amortised cost (IAS 39) | 0 |
From Fair Value through Profit or Loss (IAS 39) | 0 |
To Amortised Cost (IFRS 9) | 0 |
To Fair Value through Profit or Loss (IFRS 9) | 0 |
Total financial assets at fair value through other comprehensive income | 0 |
Amortised Cost [Abstract] | |
From Amortized Cost (IAS 39) | 3,856 |
From Available for Sale (IAS 39) | 0 |
From Fair Value through Profit or Loss (IAS 39) | 0 |
To Fair Value through Other Comprehensive Income | 10 |
To Fair Value through Profit or Loss (IFRS 9) | 55 |
Total Amortised Cost | 3,921 |
Total On Balance Sheet Positions affected by IFRS 9 ECL Model | 3,921 |
Off Balance Sheet | 285 |
Total On- and Off Balance Sheet Positions affected by IFRS 9 ECL Model | 4,207 |
Changes due to reclassifications | |
Financial assets at fair value through profit or loss [Abstract] | |
From Available for Sale (IAS 39) | 0 |
From Amortized Cost (IAS 39) | 0 |
To amortised cost (IFRS 9) | 0 |
To Fair Value through Other Comprehensive Income (IRFS 9) | 0 |
Total financial assets at fair value through profit or loss | 0 |
Financial assets at fair value through other comprehensive income [Abstract] | |
From Available for Sale (IAS 39) | 0 |
From amortised cost (IAS 39) | 0 |
From Fair Value through Profit or Loss (IAS 39) | 0 |
To Amortised Cost (IFRS 9) | 0 |
To Fair Value through Profit or Loss (IFRS 9) | 0 |
Total financial assets at fair value through other comprehensive income | 0 |
Amortised Cost [Abstract] | |
From Amortized Cost (IAS 39) | 0 |
From Available for Sale (IAS 39) | 0 |
From Fair Value through Profit or Loss (IAS 39) | 0 |
To Fair Value through Other Comprehensive Income | (10) |
To Fair Value through Profit or Loss (IFRS 9) | (55) |
Total Amortised Cost | (65) |
Total On Balance Sheet Positions affected by IFRS 9 ECL Model | (65) |
Off Balance Sheet | 0 |
Total On- and Off Balance Sheet Positions affected by IFRS 9 ECL Model | (65) |
Changes due to the introduction of the IFRS 9 ECL model | |
Financial assets at fair value through profit or loss [Abstract] | |
From Available for Sale (IAS 39) | 0 |
From Amortized Cost (IAS 39) | 0 |
To amortised cost (IFRS 9) | 0 |
To Fair Value through Other Comprehensive Income (IRFS 9) | 0 |
Total financial assets at fair value through profit or loss | 0 |
Financial assets at fair value through other comprehensive income [Abstract] | |
From Available for Sale (IAS 39) | 12 |
From amortised cost (IAS 39) | 0 |
From Fair Value through Profit or Loss (IAS 39) | 0 |
To Amortised Cost (IFRS 9) | 0 |
To Fair Value through Profit or Loss (IFRS 9) | 0 |
Total financial assets at fair value through other comprehensive income | 12 |
Amortised Cost [Abstract] | |
From Amortized Cost (IAS 39) | 737 |
From Available for Sale (IAS 39) | 0 |
From Fair Value through Profit or Loss (IAS 39) | 9 |
To Fair Value through Other Comprehensive Income | 0 |
To Fair Value through Profit or Loss (IFRS 9) | 0 |
Total Amortised Cost | 746 |
Total On Balance Sheet Positions affected by IFRS 9 ECL Model | 758 |
Off Balance Sheet | (6) |
Total On- and Off Balance Sheet Positions affected by IFRS 9 ECL Model | 753 |
IFRS 9 Allowance for On-and Off- Balance Sheet Positions | |
Financial assets at fair value through profit or loss [Abstract] | |
From Available for Sale (IAS 39) | 0 |
From Amortized Cost (IAS 39) | 0 |
To amortised cost (IFRS 9) | 0 |
To Fair Value through Other Comprehensive Income (IRFS 9) | 0 |
Total financial assets at fair value through profit or loss | 0 |
Financial assets at fair value through other comprehensive income [Abstract] | |
From Available for Sale (IAS 39) | 12 |
From amortised cost (IAS 39) | 0 |
From Fair Value through Profit or Loss (IAS 39) | 0 |
To Amortised Cost (IFRS 9) | 0 |
To Fair Value through Profit or Loss (IFRS 9) | 0 |
Total financial assets at fair value through other comprehensive income | 12 |
Amortised Cost [Abstract] | |
From Amortized Cost (IAS 39) | 4,594 |
From Available for Sale (IAS 39) | 0 |
From Fair Value through Profit or Loss (IAS 39) | 9 |
To Fair Value through Other Comprehensive Income | 0 |
To Fair Value through Profit or Loss (IFRS 9) | 0 |
Total Amortised Cost | 4,603 |
Total On Balance Sheet Positions affected by IFRS 9 ECL Model | 4,615 |
Off Balance Sheet | 280 |
Total On- and Off Balance Sheet Positions affected by IFRS 9 ECL Model | € 4,894 |
DBs Ownership Interest followin
DBs Ownership Interest following Initial Public Offering of DWS Shares (Detail) | 12 Months Ended |
Dec. 31, 2018EUR (€) | |
DBs Ownership Interest following Initial Public Offering of DWS Shares [Abstract] | |
Deutsche Banks ownership interest at the time of the IPO | € 5,991 |
Net decrease in Deutsche Banks ownership interests | (1,229) |
Deutsche Banks share of net income or loss | 239 |
Deutsche Banks share of other comprehensive income | 149 |
Deutsche Banks share of other equity changes | 37 |
Deutsche Banks ownership interest at the end of the period | 5,187 |
Excess Amount from the IPO | 73 |
Total Effect on Shareholders Equity from a Change in DB Ownership Interest in DWS, at the end of the reporting period | € 5,260 |
DBs Ownership Interest follow_2
DBs Ownership Interest following Initial Public Offering of DWS Shares (Detail: Text Values) | Dec. 31, 2018EUR (€)€ / sharesshares |
DBs Ownership Interest following Initial Public Offering of DWS Shares [Abstract] | |
Total placement volume of DWS shares | 44,500,000 |
Included: over-allotments (greenshoe) of shares | 4,500,000 |
Share price offered in the IPO as announced on March 22, 2018 in EUR per share | € / shares | € 32.5 |
Number of DWS shares sold as of March 31, 2018, in shares | 40,000,000 |
Market capitalization of DWS based on the placement price | € | € 6,500,000,000 |
Gross proceeds from placement of DWS shares | € | € 1,300,000,000 |
Proportion of outside shareholders in DWS after placement, in percent | 20.00% |
Carrying amount of DWS net assets in the Groups consolidated financial statements on the date of the IPO | € | € 6,000,000,000 |
Alloction of shares out of the total greenshoe volume of 4.5 million shares to new shareholders by the end of the stabilization period (April 20, 2018), in shares | 1,018,128 |
Proportion of outside shareholders in DWS by the end of the stabilization period, in percent | 21.00% |
Assets and liabilities disposed
Assets and liabilities disposed (Detail) - EUR (€) € in Millions | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Assets and liabilities disposed | |||
Cash and cash equivalents | € 50 | € 47 | € 0 |
All remaining assets | 4,619 | 848 | 14,858 |
Total assets disposed | 4,669 | 895 | 14,858 |
Total liabilities disposed | € 6,035 | € 814 | € 12,250 |
Assets and liabilities dispos_2
Assets and liabilities disposed (Detail: Text Values) - EUR (€) € in Millions | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Assets and liabilities disposed | |||
Total cash consideration received for dispositions of subsidiaries/businesses | € 398 | € 129 | € 2,023 |
of which: in cash | € 164 | € 129 | € 2,023 |
Management Report - Segment Res
Management Report - Segment Results of Operations (Detail) - EUR (€) € in Millions | 12 Months Ended | ||||||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |||||
Segment Results of Operations [Line Items] | |||||||
Net revenues | € 25,316 | € 26,447 | € 30,014 | ||||
Provision for credit losses | 525 | 525 | 1,383 | ||||
Noninterest expenses [Abstract] | |||||||
Compensation and benefits | 11,814 | 12,253 | 11,874 | ||||
General and administrative expenses | 11,286 | 11,973 | 15,454 | ||||
Policyholder benefits and claims | 0 | 0 | 374 | ||||
Impairment of goodwill and other intangible assets | 0 | 21 | 1,256 | ||||
Restructuring activities | 360 | 447 | 484 | ||||
Total noninterest expenses | 23,461 | 24,695 | 29,442 | ||||
Noncontrolling interests | 0 | 0 | 0 | ||||
Income (loss) before income taxes | € 1,330 | € 1,228 | € (810) | ||||
Cost/income ratio | 92.70% | 93.40% | 98.10% | ||||
Assets | € 1,348,137 | € 1,474,732 | € 1,590,546 | ||||
Additions to non-current assets | 1,647 | 1,803 | 2,019 | ||||
Risk-weighted assets | [1] | 350,432 | 344,212 | 357,518 | |||
CRD 4 leverage exposure measure (spot value at reporting date) | 1,272,926 | 1,394,886 | 1,347,653 | ||||
Average shareholders equity | € 62,610 | € 63,926 | € 62,082 | ||||
Post-tax return on average tangible shareholders equity | [2] | 0.50% | (1.40%) | (2.70%) | |||
Post-tax return on average shareholders equity | [2] | 0.40% | (1.20%) | (2.30%) | |||
Includes, Net Interest | |||||||
Net interest income | € 13,192 | € 12,378 | € 14,707 | ||||
Net income (loss) from equity method investments | 219 | 137 | 455 | ||||
Includes, Equity Method | |||||||
Equity method investments | 879 | 866 | 1,027 | ||||
Corporate & Investment Bank [Member] | |||||||
Segment Results of Operations [Line Items] | |||||||
Net revenues | 13,046 | 14,227 | 16,764 | ||||
Provision for credit losses | 120 | 213 | 816 | ||||
Noninterest expenses [Abstract] | |||||||
Compensation and benefits | 3,970 | 4,364 | 4,062 | ||||
General and administrative expenses | 8,115 | 8,441 | 9,280 | ||||
Policyholder benefits and claims | 0 | 0 | 0 | ||||
Impairment of goodwill and other intangible assets | 0 | 6 | 285 | ||||
Restructuring activities | 287 | 81 | 299 | ||||
Total noninterest expenses | 12,372 | 12,892 | 13,926 | ||||
Noncontrolling interests | 24 | 26 | 49 | ||||
Income (loss) before income taxes | € 530 | € 1,096 | € 1,973 | ||||
Cost/income ratio | 94.80% | 90.60% | 83.10% | ||||
Assets | [3] | € 988,531 | € 1,127,028 | € 1,201,894 | |||
Additions to non-current assets | 514 | 125 | 22 | ||||
Risk-weighted assets | [1],[4] | 236,306 | 231,574 | 237,596 | |||
CRD 4 leverage exposure measure (spot value at reporting date) | 892,653 | 1,029,946 | 954,203 | ||||
Average shareholders equity | [5] | € 43,427 | € 44,197 | € 40,312 | |||
Post-tax return on average tangible shareholders equity | 0.90% | 1.80% | [2] | 3.40% | [2] | ||
Post-tax return on average shareholders equity | [2] | 0.90% | 1.60% | 3.20% | |||
Includes, Net Interest | |||||||
Net interest income | € 3,574 | € 4,104 | € 6,314 | ||||
Net income (loss) from equity method investments | 170 | 81 | 138 | ||||
Includes, Equity Method | |||||||
Equity method investments | 556 | 553 | 698 | ||||
Private & Commercial Bank [Member] | |||||||
Segment Results of Operations [Line Items] | |||||||
Net revenues | 10,158 | 10,178 | 11,090 | ||||
Provision for credit losses | 406 | 313 | 439 | ||||
Noninterest expenses [Abstract] | |||||||
Compensation and benefits | 4,001 | 4,027 | 4,075 | ||||
General and administrative expenses | 4,867 | 5,012 | 4,888 | ||||
Policyholder benefits and claims | 0 | 0 | 0 | ||||
Impairment of goodwill and other intangible assets | 0 | 12 | 0 | ||||
Restructuring activities | 55 | 360 | 141 | ||||
Total noninterest expenses | 8,923 | 9,411 | 9,104 | ||||
Noncontrolling interests | 0 | (12) | 0 | ||||
Income (loss) before income taxes | € 829 | € 465 | € 1,547 | ||||
Cost/income ratio | 87.80% | 92.50% | 82.10% | ||||
Assets | [6] | € 343,704 | € 333,069 | € 329,869 | |||
Additions to non-current assets | 516 | 551 | 480 | ||||
Risk-weighted assets | [1],[7] | 87,709 | 87,472 | 86,082 | |||
CRD 4 leverage exposure measure (spot value at reporting date) | 354,584 | 344,087 | 342,424 | ||||
Average shareholders equity | [8] | € 14,514 | € 14,943 | € 14,371 | |||
Post-tax return on average tangible shareholders equity | 4.80% | [2] | 2.40% | 8.00% | [2] | ||
Post-tax return on average shareholders equity | [2] | 4.10% | 2.40% | 7.00% | |||
Includes, Net Interest | |||||||
Net interest income | € 6,077 | € 5,875 | € 6,201 | ||||
Net income (loss) from equity method investments | 2 | 3 | 5 | ||||
Includes, Equity Method | |||||||
Equity method investments | 78 | 91 | 23 | ||||
Asset Management [Member] | |||||||
Segment Results of Operations [Line Items] | |||||||
Net revenues | 2,186 | 2,532 | 3,015 | ||||
Provision for credit losses | (1) | (1) | 1 | ||||
Noninterest expenses [Abstract] | |||||||
Compensation and benefits | 787 | 812 | 737 | ||||
General and administrative expenses | 929 | 978 | 1,026 | ||||
Policyholder benefits and claims | 0 | 0 | 374 | ||||
Impairment of goodwill and other intangible assets | 0 | 3 | 1,021 | ||||
Restructuring activities | 19 | 6 | 47 | ||||
Total noninterest expenses | 1,735 | 1,799 | 3,205 | ||||
Noncontrolling interests | 85 | 1 | 0 | ||||
Income (loss) before income taxes | € 367 | € 732 | € (190) | ||||
Cost/income ratio | 79.40% | 71.10% | 106.30% | ||||
Assets | [9] | € 10,030 | € 8,050 | € 12,300 | |||
Additions to non-current assets | 43 | 60 | 1 | ||||
Risk-weighted assets | [1],[10] | 10,365 | 8,432 | 8,960 | |||
CRD 4 leverage exposure measure (spot value at reporting date) | 5,044 | 2,870 | 3,126 | ||||
Average shareholders equity | [11] | € 4,669 | € 4,687 | € 4,460 | |||
Post-tax return on average tangible shareholders equity | 17.80% | [2] | 0.00% | 71.00% | [2] | ||
Post-tax return on average shareholders equity | [2] | 5.70% | 10.40% | (2.80%) | |||
Includes, Net Interest | |||||||
Net interest income | € (52) | € (19) | € 326 | ||||
Net income (loss) from equity method investments | 41 | 44 | 44 | ||||
Includes, Equity Method | |||||||
Equity method investments | 240 | 211 | 203 | ||||
Non-Core Operations Unit [Member] | |||||||
Segment Results of Operations [Line Items] | |||||||
Net revenues | 0 | 0 | (382) | ||||
Provision for credit losses | 0 | 0 | 128 | ||||
Noninterest expenses [Abstract] | |||||||
Compensation and benefits | 0 | 0 | 68 | ||||
General and administrative expenses | 0 | 0 | 2,659 | ||||
Policyholder benefits and claims | 0 | ||||||
Impairment of goodwill and other intangible assets | 0 | 0 | (49) | ||||
Restructuring activities | 0 | 0 | 4 | ||||
Total noninterest expenses | 0 | 0 | 2,682 | ||||
Noncontrolling interests | 0 | 0 | (4) | ||||
Income (loss) before income taxes | 0 | 0 | (3,187) | ||||
Assets | [12] | 0 | 0 | 5,523 | |||
Additions to non-current assets | 0 | ||||||
Risk-weighted assets | [13] | 0 | 0 | 9,174 | [1] | ||
CRD 4 leverage exposure measure (spot value at reporting date) | 7,882 | ||||||
Average shareholders equity | [14] | 0 | 0 | 690 | |||
Includes, Net Interest | |||||||
Net interest income | 142 | ||||||
Net income (loss) from equity method investments | 269 | ||||||
Includes, Equity Method | |||||||
Equity method investments | 98 | ||||||
Corporate & Other [Member] | |||||||
Segment Results of Operations [Line Items] | |||||||
Net revenues | (73) | (489) | (473) | ||||
Provision for credit losses | 0 | 0 | 0 | ||||
Noninterest expenses [Abstract] | |||||||
Compensation and benefits | 3,055 | 3,050 | 2,931 | ||||
General and administrative expenses | (2,624) | (2,458) | (2,398) | ||||
Policyholder benefits and claims | 0 | 0 | 0 | ||||
Impairment of goodwill and other intangible assets | 0 | 0 | 0 | ||||
Restructuring activities | 0 | 0 | (7) | ||||
Total noninterest expenses | 431 | 593 | 525 | ||||
Noncontrolling interests | (109) | (16) | (46) | ||||
Income (loss) before income taxes | (396) | (1,066) | (952) | ||||
Assets | [15] | 5,872 | 6,586 | 40,959 | |||
Additions to non-current assets | 575 | 1,067 | 1,517 | ||||
Risk-weighted assets | [1],[16] | 16,053 | 16,734 | 15,706 | |||
CRD 4 leverage exposure measure (spot value at reporting date) | 20,644 | 17,983 | 40,018 | ||||
Average shareholders equity | 0 | 99 | 2,249 | ||||
Includes, Net Interest | |||||||
Net interest income | 3,592 | 2,418 | 1,724 | ||||
Net income (loss) from equity method investments | 6 | 9 | (1) | ||||
Includes, Equity Method | |||||||
Equity method investments | € 5 | € 10 | € 4 | ||||
[1] | Risk-weighted assets and capital ratios are based upon CRR/CRD4 fully-loaded. | ||||||
[2] | The post-tax return on average tangible shareholders equity and average shareholders equity at the Group level reflects the reported effective tax rate for the Group, which was 74%for the year ended December31, 2018. For the post-tax return on average tangible shareholders equity and average shareholders equity of the segments, the Group effective tax rate was adjusted to exclude the impact of permanent differences not attributed to the segments, so that the segment tax rates were 28% for the year ended December31, 2018. | ||||||
[3] | Segment assets represent consolidated view, i.e., the amounts do not include intersegment balances. | ||||||
[4] | Risk-weighted assets and capital ratios are based upon CRR/CRD 4 fully-loaded. | ||||||
[5] | See Measurement of Segment Profit or Loss above for a description of how average shareholders' equity is allocated to the divisions. | ||||||
[6] | Segment assets represent consolidated view, i.e., the amounts do not include intersegment balances. | ||||||
[7] | Risk-weighted assets and capital ratios are based upon CRR/CRD 4 fully-loaded. | ||||||
[8] | See Measurement of Segment Profit or Loss above for a description of how average shareholders' equity is allocated to the divisions. | ||||||
[9] | Segment assets represent consolidated view, i.e., the amounts do not include intersegment balances. | ||||||
[10] | Risk-weighted assets and capital ratios are based upon CRR/CRD 4 fully-loaded. | ||||||
[11] | See Measurement of Segment Profit or Loss above for a description of how average shareholders' equity is allocated to the divisions. | ||||||
[12] | Segment assets represent consolidated view, i.e., the amounts do not include intersegment balances. | ||||||
[13] | Risk-weighted assets and capital ratios are based upon CRR/CRD 4 fully-loaded. | ||||||
[14] | See Measurement of Segment Profit or Loss above for a description of how average shareholders' equity is allocated to the divisions. | ||||||
[15] | Assets in C&O reflect residual Treasury assets not allocated to the business segments as well as Corporate assets, such as deferred tax assets and central clearing accounts, outside the management responsibility of the business segments. | ||||||
[16] | Risk weighted assets are based upon CRR/CRD4 fully-loaded. Risk-weighted assets in C&O reflect Treasury and Corporate assets outside the management responsibility of the business segments, primarily the Groups deferred tax assets. |
Management Report - Segment R_2
Management Report - Segment Results of Operations (Detail: Text Values) - Segment Results of Operations, Text Values [Member] | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Segment Results of Operations [Line Items] | |||
Effective tax rate for the Group, reflected in the post-tax return on average tangible shareholders equity and average shareholders equity at the Group level | 74.00% | 160.00% | (67.00%) |
Effective tax rate for the group adjusted to exclude the impact of permanent differences not attributed to the segments, reflected in the post-tax return on average tangible shareholders equity and average shareholders equity of the segments | 28.00% | 33.00% | 35.00% |
Management Report - Corporate D
Management Report - Corporate Divisions - Corporate & Investment Bank (Detail) - Corporate & Investment Bank [Member] - EUR (€) € in Millions | 12 Months Ended | |||||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | ||||
Net revenues [Abstract] | ||||||
Global Transaction Banking | € 3,834 | € 3,917 | € 4,419 | |||
Equity Origination | 362 | 396 | 405 | |||
Debt Origination | 1,081 | 1,327 | 1,393 | |||
Advisory | 493 | 508 | 495 | |||
Origination and Advisory | 1,935 | 2,232 | 2,292 | |||
Sales & Trading (Equity) | 1,957 | 2,233 | 2,751 | |||
Sales & Trading (FIC) | 5,361 | 6,447 | 7,066 | |||
Sales & Trading | 7,317 | 8,680 | 9,817 | |||
Other | (40) | (601) | 235 | |||
Total net revenues | 13,046 | 14,227 | 16,764 | |||
Provision for credit losses | 120 | 213 | 816 | |||
Noninterest expenses [Abstract] | ||||||
Compensation and benefits | 3,970 | 4,364 | 4,062 | |||
General and administrative expenses | 8,115 | 8,441 | 9,280 | |||
Impairment of goodwill and other intangible assets | 0 | 6 | 285 | |||
Restructuring activities | 287 | 81 | 299 | |||
Total noninterest expenses | 12,372 | 12,892 | 13,926 | |||
Noncontrolling interests | 24 | 26 | 49 | |||
Income (loss) before income taxes | € 530 | € 1,096 | € 1,973 | |||
Cost/income ratio | 94.80% | 90.60% | 83.10% | |||
Assets | [1] | € 988,531 | € 1,127,028 | € 1,201,894 | ||
Risk-weighted assets | [2],[3] | 236,306 | 231,574 | 237,596 | ||
Average shareholders equity | [4] | € 43,427 | € 44,197 | € 40,312 | ||
Post-tax return on average tangible shareholders equity | 0.90% | 1.80% | [5] | 3.40% | [5] | |
Post-tax return on average shareholders equity | [5] | 0.90% | 1.60% | 3.20% | ||
[1] | Segment assets represent consolidated view, i.e., the amounts do not include intersegment balances. | |||||
[2] | Risk-weighted assets and capital ratios are based upon CRR/CRD 4 fully-loaded. | |||||
[3] | Risk-weighted assets and capital ratios are based upon CRR/CRD4 fully-loaded. | |||||
[4] | See Measurement of Segment Profit or Loss above for a description of how average shareholders' equity is allocated to the divisions. | |||||
[5] | The post-tax return on average tangible shareholders equity and average shareholders equity at the Group level reflects the reported effective tax rate for the Group, which was 74%for the year ended December31, 2018. For the post-tax return on average tangible shareholders equity and average shareholders equity of the segments, the Group effective tax rate was adjusted to exclude the impact of permanent differences not attributed to the segments, so that the segment tax rates were 28% for the year ended December31, 2018. |
Management Report - Corporate_2
Management Report - Corporate Divisions - Private & Commercial Bank (Detail) - Private & Commercial Bank [Member] - EUR (€) € in Millions | 12 Months Ended | |||||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | ||||
Net revenues [Abstract] | ||||||
Private & Commercial Business (Germany) | € 6,802 | € 6,583 | € 6,873 | |||
Private and Commercial Business (International) | [1] | 1,439 | 1,455 | 1,466 | ||
Wealth Management | 1,746 | 2,021 | 1,720 | |||
Exited Businesses | [2] | 170 | 119 | 1,031 | ||
Total net revenues | 10,158 | 10,178 | 11,090 | |||
thereof [Abstract] | ||||||
Net interest income | 6,077 | 5,875 | 6,201 | |||
Commission and fee income | 3,143 | 3,367 | 3,395 | |||
Remaining income | 937 | 935 | 1,494 | |||
Provision for credit losses | 406 | 313 | 439 | |||
Noninterest expenses [Abstract] | ||||||
Compensation and benefits | 4,001 | 4,027 | 4,075 | |||
General and administrative expenses | 4,867 | 5,012 | 4,888 | |||
Impairment of goodwill and other intangible assets | 0 | 12 | 0 | |||
Restructuring activities | 55 | 360 | 141 | |||
Total noninterest expenses | 8,923 | 9,411 | 9,104 | |||
Noncontrolling interests | 0 | (12) | 0 | |||
Income (loss) before income taxes | € 829 | € 465 | € 1,547 | |||
Cost/income ratio | 87.80% | 92.50% | 82.10% | |||
Assets | [3] | € 343,704 | € 333,069 | € 329,869 | ||
Risk-weighted assets | [4],[5] | 87,709 | 87,472 | 86,082 | ||
Average shareholders equity | [6] | € 14,514 | € 14,943 | € 14,371 | ||
Post-tax return on average tangible shareholders equity | 4.80% | [7] | 2.40% | 8.00% | [7] | |
Post-tax return on average shareholders equity | [7] | 4.10% | 2.40% | 7.00% | ||
[1] | Covers operations in Belgium, India, Italy and Spain. | |||||
[2] | Covers operations in Poland and Portugal as well as Private Client Services (PCS) and Hua Xia in historical periods. | |||||
[3] | Segment assets represent consolidated view, i.e., the amounts do not include intersegment balances. | |||||
[4] | Risk-weighted assets and capital ratios are based upon CRR/CRD 4 fully-loaded. | |||||
[5] | Risk-weighted assets and capital ratios are based upon CRR/CRD4 fully-loaded. | |||||
[6] | See Measurement of Segment Profit or Loss above for a description of how average shareholders' equity is allocated to the divisions. | |||||
[7] | The post-tax return on average tangible shareholders equity and average shareholders equity at the Group level reflects the reported effective tax rate for the Group, which was 74%for the year ended December31, 2018. For the post-tax return on average tangible shareholders equity and average shareholders equity of the segments, the Group effective tax rate was adjusted to exclude the impact of permanent differences not attributed to the segments, so that the segment tax rates were 28% for the year ended December31, 2018. |
Management Report - Corporate_3
Management Report - Corporate Divisions - Asset Management (Detail) - Asset Management [Member] - EUR (€) € in Millions | 12 Months Ended | |||||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | ||||
Net revenues [Abstract] | ||||||
Management Fees | € 2,115 | € 2,247 | € 2,190 | |||
Performance and transaction fees | 91 | 199 | 220 | |||
Other revenues | (20) | 86 | 209 | |||
Mark-to-market movements on policyholder positions in Abbey Life | 0 | 0 | 396 | |||
Total net revenues | 2,186 | 2,532 | 3,015 | |||
Provision for credit losses | (1) | (1) | 1 | |||
Noninterest expenses [Abstract] | ||||||
Compensation and benefits | 787 | 812 | 737 | |||
General and administrative expenses | 929 | 978 | 1,026 | |||
Policyholder benefits and claims | 0 | 0 | 374 | |||
Impairment of goodwill and other intangible assets | 0 | 3 | 1,021 | |||
Restructuring activities | 19 | 6 | 47 | |||
Total noninterest expenses | 1,735 | 1,799 | 3,205 | |||
Noncontrolling interests | 85 | 1 | 0 | |||
Income (loss) before income taxes | € 367 | € 732 | € (190) | |||
Cost/income ratio | 79.40% | 71.10% | 106.30% | |||
Assets | [1] | € 10,030 | € 8,050 | € 12,300 | ||
Risk-weighted assets | [2],[3] | 10,365 | 8,432 | 8,960 | ||
Average shareholders equity | [4] | € 4,669 | € 4,687 | € 4,460 | ||
Post-tax return on average tangible shareholders equity | 17.80% | [5] | 0.00% | 71.00% | [5] | |
Post-tax return on average shareholders equity | [5] | 5.70% | 10.40% | (2.80%) | ||
[1] | Segment assets represent consolidated view, i.e., the amounts do not include intersegment balances. | |||||
[2] | Risk-weighted assets and capital ratios are based upon CRR/CRD 4 fully-loaded. | |||||
[3] | Risk-weighted assets and capital ratios are based upon CRR/CRD4 fully-loaded. | |||||
[4] | See Measurement of Segment Profit or Loss above for a description of how average shareholders' equity is allocated to the divisions. | |||||
[5] | The post-tax return on average tangible shareholders equity and average shareholders equity at the Group level reflects the reported effective tax rate for the Group, which was 74%for the year ended December31, 2018. For the post-tax return on average tangible shareholders equity and average shareholders equity of the segments, the Group effective tax rate was adjusted to exclude the impact of permanent differences not attributed to the segments, so that the segment tax rates were 28% for the year ended December31, 2018. |
Management Report - Corporate_4
Management Report - Corporate Divisions - Non-Core Operations Unit (Detail) - Non-Core Operations Unit [Member] - EUR (€) € in Millions | 12 Months Ended | ||||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |||
Non-Core Operations Unit [Line Items] | |||||
Net revenues | € 0 | € 0 | € (382) | ||
thereof [Abstract] | |||||
Net interest income and net gains (losses) on financial assets/liabilities at fair value through profit or loss | 0 | 0 | (1,307) | ||
Provision for credit losses | 0 | 0 | 128 | ||
Noninterest expenses [Abstract] | |||||
Compensation and benefits | 0 | 0 | 68 | ||
General and administrative expenses | 0 | 0 | 2,659 | ||
Policyholder benefits and claims | 0 | 0 | 0 | ||
Impairment of goodwill and other intangible assets | 0 | 0 | (49) | ||
Restructuring activities | 0 | 0 | 4 | ||
Total noninterest expenses | 0 | 0 | 2,682 | ||
Noncontrolling interests | 0 | 0 | (4) | ||
Income (loss) before income taxes | 0 | 0 | (3,187) | ||
Assets | [1] | 0 | 0 | 5,523 | |
Risk-weighted assets | [2] | 0 | 0 | 9,174 | [3] |
Average shareholders equity | [4] | € 0 | € 0 | € 690 | |
[1] | Segment assets represent consolidated view, i.e., the amounts do not include intersegment balances. | ||||
[2] | Risk-weighted assets and capital ratios are based upon CRR/CRD 4 fully-loaded. | ||||
[3] | Risk-weighted assets and capital ratios are based upon CRR/CRD4 fully-loaded. | ||||
[4] | See Measurement of Segment Profit or Loss above for a description of how average shareholders' equity is allocated to the divisions. |
Management Report - Corporate_5
Management Report - Corporate Divisions - Corporate & Other (Detail) - Corporate & Other [Member] - EUR (€) € in Millions | 12 Months Ended | |||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | ||
Consolidations & Adjustments [Line Items] | ||||
Net revenues | € (73) | € (489) | € (473) | |
Provision for credit losses | 0 | 0 | 0 | |
Noninterest expenses [Abstract] | ||||
Compensation and benefits | 3,055 | 3,050 | 2,931 | |
General and administrative expenses | (2,624) | (2,458) | (2,398) | |
Policyholder benefits and claims | 0 | 0 | 0 | |
Impairment of goodwill and other intangible assets | 0 | 0 | 0 | |
Restructuring activities | 0 | 0 | (7) | |
Total noninterest expenses | 431 | 593 | 525 | |
Noncontrolling interests | (109) | (16) | (46) | |
Income (loss) before income taxes | (396) | (1,066) | (952) | |
Assets | [1] | 5,872 | 6,586 | 40,959 |
Risk-weighted assets | [2],[3] | 16,053 | 16,734 | 15,706 |
Average shareholders equity | € 0 | € 99 | € 2,249 | |
[1] | Assets in C&O reflect residual Treasury assets not allocated to the business segments as well as Corporate assets, such as deferred tax assets and central clearing accounts, outside the management responsibility of the business segments. | |||
[2] | Risk weighted assets are based upon CRR/CRD4 fully-loaded. Risk-weighted assets in C&O reflect Treasury and Corporate assets outside the management responsibility of the business segments, primarily the Groups deferred tax assets. | |||
[3] | Risk-weighted assets and capital ratios are based upon CRR/CRD4 fully-loaded. |
Entity-Wide Disclosures by Geog
Entity-Wide Disclosures by Geographic Area (Detail) - EUR (€) € in Millions | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Total countries [Domain Member] | |||
Entity-Wide Disclosures by Geographic Area [Line Items] | |||
Net revenues | € 25,316 | € 26,447 | € 30,014 |
Total countries [Domain Member] | Corporate & Other [Member] | |||
Entity-Wide Disclosures by Geographic Area [Line Items] | |||
Net revenues | (73) | (489) | (473) |
Germany [Member] | |||
Entity-Wide Disclosures by Geographic Area [Line Items] | |||
Net revenues | 9,727 | 9,737 | 10,604 |
Germany [Member] | Corporate & Investment Bank [Member] | |||
Entity-Wide Disclosures by Geographic Area [Line Items] | |||
Net revenues | 1,400 | 1,503 | 1,924 |
Germany [Member] | Private & Commercial Bank [Member] | |||
Entity-Wide Disclosures by Geographic Area [Line Items] | |||
Net revenues | 7,342 | 7,225 | 7,571 |
Germany [Member] | Asset Management [Member] | |||
Entity-Wide Disclosures by Geographic Area [Line Items] | |||
Net revenues | 985 | 1,009 | 888 |
Germany [Member] | Non-Core Operations Unit [Member] | |||
Entity-Wide Disclosures by Geographic Area [Line Items] | |||
Net revenues | 0 | 0 | 221 |
UK [Member] | |||
Entity-Wide Disclosures by Geographic Area [Line Items] | |||
Net revenues | 3,659 | 4,286 | 4,895 |
UK [Member] | Corporate & Investment Bank [Member] | |||
Entity-Wide Disclosures by Geographic Area [Line Items] | |||
Net revenues | 3,338 | 3,818 | 4,298 |
UK [Member] | Private & Commercial Bank [Member] | |||
Entity-Wide Disclosures by Geographic Area [Line Items] | |||
Net revenues | 26 | 34 | 83 |
UK [Member] | Asset Management [Member] | |||
Entity-Wide Disclosures by Geographic Area [Line Items] | |||
Net revenues | 294 | 434 | 836 |
UK [Member] | Non-Core Operations Unit [Member] | |||
Entity-Wide Disclosures by Geographic Area [Line Items] | |||
Net revenues | 0 | 0 | (322) |
Rest of Europe, Middle East and Africa [Member] | |||
Entity-Wide Disclosures by Geographic Area [Line Items] | |||
Net revenues | 3,404 | 3,770 | 4,425 |
Rest of Europe, Middle East and Africa [Member] | Corporate & Investment Bank [Member] | |||
Entity-Wide Disclosures by Geographic Area [Line Items] | |||
Net revenues | 1,124 | 1,268 | 1,545 |
Rest of Europe, Middle East and Africa [Member] | Private & Commercial Bank [Member] | |||
Entity-Wide Disclosures by Geographic Area [Line Items] | |||
Net revenues | 1,901 | 2,037 | 2,360 |
Rest of Europe, Middle East and Africa [Member] | Asset Management [Member] | |||
Entity-Wide Disclosures by Geographic Area [Line Items] | |||
Net revenues | 379 | 465 | 497 |
Rest of Europe, Middle East and Africa [Member] | Non-Core Operations Unit [Member] | |||
Entity-Wide Disclosures by Geographic Area [Line Items] | |||
Net revenues | 0 | 0 | 23 |
Americas [Member] | |||
Entity-Wide Disclosures by Geographic Area [Line Items] | |||
Net revenues | 5,445 | 5,881 | 6,827 |
Americas [Member] | Corporate & Investment Bank [Member] | |||
Entity-Wide Disclosures by Geographic Area [Line Items] | |||
Net revenues | 4,671 | 4,999 | 5,929 |
Americas [Member] | Private & Commercial Bank [Member] | |||
Entity-Wide Disclosures by Geographic Area [Line Items] | |||
Net revenues | 362 | 390 | 625 |
Americas [Member] | Asset Management [Member] | |||
Entity-Wide Disclosures by Geographic Area [Line Items] | |||
Net revenues | 413 | 491 | 578 |
Americas [Member] | Non-Core Operations Unit [Member] | |||
Entity-Wide Disclosures by Geographic Area [Line Items] | |||
Net revenues | 0 | 0 | (305) |
Asia/Pacific [Member] | |||
Entity-Wide Disclosures by Geographic Area [Line Items] | |||
Net revenues | 3,154 | 3,263 | 3,736 |
Asia/Pacific [Member] | Corporate & Investment Bank [Member] | |||
Entity-Wide Disclosures by Geographic Area [Line Items] | |||
Net revenues | 2,513 | 2,639 | 3,069 |
Asia/Pacific [Member] | Private & Commercial Bank [Member] | |||
Entity-Wide Disclosures by Geographic Area [Line Items] | |||
Net revenues | 526 | 491 | 451 |
Asia/Pacific [Member] | Asset Management [Member] | |||
Entity-Wide Disclosures by Geographic Area [Line Items] | |||
Net revenues | 114 | 133 | 216 |
Asia/Pacific [Member] | Non-Core Operations Unit [Member] | |||
Entity-Wide Disclosures by Geographic Area [Line Items] | |||
Net revenues | € 0 | € 0 | € 1 |
Entity-Wide Disclosures by Ge_2
Entity-Wide Disclosures by Geographic Area (Detail: Text Values) - EUR (€) € in Millions | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Entity-Wide Disclosures by Geographic Area [Abstract] | |||
Percentage of revenues moved from category Financing to Sales & Trading (FIC) on 2017 basis, more than: | 95.00% | ||
Infrastructure expenses relating to shareholder activities no longer allocated to segments, instead reported under Corporate & Other (C&O) | € 422 | € 371 | |
Increase of net interest income in CIB due to presentation of tax-exempt securities as fully taxable, offsetted by reversal in C&O | € 42 | € 114 | € 126 |
Net Interest Income (Detail)
Net Interest Income (Detail) - EUR (€) € in Millions | 12 Months Ended | |||||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | ||||
Interest and similar income: | ||||||
Interest income on cash and central bank balances | [1] | € 1,860 | € 1,070 | € 433 | ||
Interest income on interbank balances (w/o central banks) | [1] | 223 | 245 | 252 | ||
Central bank funds sold and securities purchased under resale agreements | [1] | 221 | 292 | 359 | ||
Interest income on financial assets available for sale | 1,083 | [1] | 1,313 | [1] | ||
Dividend income on financial assets available for sale | 88 | [1] | 205 | [1] | ||
Loans | [1] | 12,992 | 12,004 | 12,311 | ||
Interest income on securities held to maturity | 68 | [1] | 67 | [1] | ||
Other | [1] | 497 | 1,406 | 1,417 | ||
Total Interest and similar income from assets at amortized cost | [1] | 15,793 | 16,256 | 16,357 | ||
Interest income from assets at fair value through other comprehensive income | 1,014 | |||||
Total Interest and similar income not at fair value through profit or loss | [1] | 16,807 | 16,256 | 16,357 | ||
Financial assets at fair value through profit or loss | [1] | 7,985 | 7,286 | 8,786 | ||
Total interest and similar income | [2] | 24,793 | 23,542 | [3] | 25,143 | [3] |
Interest expense: | ||||||
Interest-bearing deposits | [1] | 3,122 | 2,833 | 2,583 | ||
Central bank funds purchased and securities sold under repurchase agreements | [1] | 379 | 431 | 255 | ||
Other short-term borrowings | [1] | 139 | 135 | 179 | ||
Long-term debt | [1] | 1,981 | 1,795 | 1,759 | ||
Trust preferred securities | [1] | 234 | 413 | 437 | ||
Other | [1] | 1,923 | 1,500 | 1,083 | ||
Total Interest expense not at fair value through profit or loss | [1] | 7,778 | 7,107 | 6,295 | ||
Financial liabilities at fair value through profit or loss | [1] | 3,822 | 4,058 | 4,141 | ||
Total interest expense | 11,601 | 11,164 | 10,436 | |||
Net interest income | € 13,192 | € 12,378 | € 14,707 | |||
[1] | Prior period comparatives for gross interest income and gross interest expense have been restated. The restatements did not affect net interest income. EUR550million and EUR493million for year ended December 31, 2017 and 2016 were restated. | |||||
[2] | Interest and similar income included EUR16.8billion for the year ended December31, 2018 calculated based on effective interest method. | |||||
[3] | Interest and similar income included EUR16.8billion for the year ended December31, 2018 calculated based on effective interest method. |
Net Interest Income (Detail_ Te
Net Interest Income (Detail: Text Values) - EUR (€) € in Millions | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Reclassification [Abstract] | |||
From "interest and similar income" | € 550 | € 493 | |
To "interest expense" | 550 | 493 | |
Net Interest Income [Abstract] | |||
Government grants under the (TLTRO II) program included in Other interest income | € 93 | 116 | |
Interest income recorded on impaired financial assets | € 0 | € 61 | € 63 |
Net Gains (Losses) on Financi_3
Net Gains (Losses) on Financial Assets/Liabilities at Fair Value through Profit or Loss (Detail) - Net Gains (Losses) on Financial Assets/Liabilities at Fair Value through Profit or Loss [Member] - EUR (€) € in Millions | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Total Fair Value [Domain Member] | |||
Breakdown by financial asset/liability category [Abstract] | |||
Total net gains (losses) on financial assets/liabilities at fair value through profit or loss | € 1,332 | € 2,926 | € 1,401 |
Trading Fair Value [Member] | |||
Net Gains (Losses) on Financial Assets/Liabilities at Fair Value through Profit or Loss [Line Items] | |||
Total Sales & Trading | 3,209 | 5,200 | 4,150 |
Sales & Trading (equity) | 407 | 1,142 | 588 |
Sales & Trading (FIC) | 2,802 | 4,058 | 3,562 |
Other trading income | (3,157) | (1,826) | (3,603) |
Total trading income | 52 | 3,374 | 547 |
Non-Trading Fair Value [Member] | |||
Breakdown by financial assets/ liability category [Abstract] | |||
Debt securities | (77) | ||
Equity securities | 159 | ||
Loans and loan commitments | 77 | ||
Deposits | 27 | ||
Other non-trading finacial assets mandatory at fair value through profit and loss | 26 | ||
Total net gains (losses) on non-trading financial assets mandatory at fair value through profit or loss | 212 | ||
Designated Fair Value [Member] | |||
Breakdown by financial assets/ liability category [Abstract] | |||
Loans and loan commitments | 7 | (32) | (109) |
Deposits | 19 | (30) | (28) |
Breakdown by financial asset/liability category [Abstract] | |||
Securities purchased/sold under resale/repurchase agreements | 4 | 3 | (3) |
Securities borrowed/loaned | 0 | (1) | 1 |
Long-term debt | 1,118 | (398) | 303 |
Other financial assets/liabilities designated at fair value through profit or loss | (79) | 10 | 691 |
Total net gains (losses) on financial assets/liabilities designated at fair value through profit or loss | € 1,069 | € (448) | € 854 |
Combined Net Interest Income an
Combined Net Interest Income and Net Gains (Losses) on Financial Assets/Liabilities at Fair Value through Profit or Loss (Detail) - EUR (€) € in Millions | 12 Months Ended | |||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | ||
Combined Net Interest Income and Net Gains (Losses) on Financial Assets/Liabilities at Fair Value through Profit or Loss [Line Items] | ||||
Net interest income | € 13,192 | € 12,378 | € 14,707 | |
Trading income | [1] | 52 | 3,374 | 547 |
Net gains (losses) on non-trading financial assets mandatory at fair value through profit or loss | 212 | |||
Net gains (losses) on financial assets/liabilities designated at fair value through profit or loss | 1,069 | (448) | 854 | |
Total net gains (losses) on financial assets/liabilities at fair value through profit or loss | 1,332 | 2,926 | 1,401 | |
Total net interest income and net gains (losses) on financial assets/liabilities at fair value through profit or loss | 14,524 | 15,304 | 16,108 | |
Corporate & Investment Bank | 7,905 | 8,651 | 10,774 | |
Total Sales & Trading | 6,541 | 7,868 | 9,092 | |
Sales & Trading (Equity) | 1,514 | 1,516 | 1,931 | |
Sales & Trading (FIC) | 5,027 | 6,351 | 7,161 | |
Global Transaction Banking | 1,869 | 1,932 | 2,097 | |
Remaining Products | (504) | (1,148) | (415) | |
Private & Commercial Bank | 6,283 | 6,158 | 6,420 | |
Asset Management | (89) | 30 | 365 | |
Corporate & Other | 425 | 464 | (144) | |
Total net interest income and net gains (losses) on financial assets/liabilities at fair value through profit or loss | € 14,524 | € 15,304 | € 16,108 | |
[1] | Trading income includes gains and losses from derivatives not qualifying for hedge accounting. |
Commission and Fee Income and E
Commission and Fee Income and Expense (Detail) - EUR (€) € in Millions | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Commission and fee income and expense: | |||
Commission and fee income | € 12,921 | € 14,102 | € 14,999 |
Commission and fee expense | 2,882 | 3,100 | 3,255 |
Net commissions and fee income | € 10,039 | € 11,002 | € 11,744 |
Disaggregation of revenues by p
Disaggregation of revenues by product type and business segment - based on IFRS 15 (Detail) € in Millions | 12 Months Ended |
Dec. 31, 2018EUR (€) | |
Total Consolidated Segments [Domain Member] | |
Major type of services: [Abstract] | |
Commissions for administration | € 568 |
Commissions for assets under management | 3,436 |
Commissions for other securities | 335 |
Underwriting and advisory fees | 1,696 |
Brokerage fees | 2,238 |
Commissions for local payments | 1,460 |
Commissions for foreign commercial business | 621 |
Commissions for foreign currency/exchange business | 15 |
Commissions for loan processing and guarantees | 981 |
Intermediary fees | 493 |
Fees for sundry other customer services | 1,076 |
Total fee and commissions income | 12,921 |
Gross expense | (2,882) |
Net fees and commissions | 10,039 |
Corporate & Investment Bank [Member] | |
Major type of services: [Abstract] | |
Commissions for administration | 292 |
Commissions for assets under management | 45 |
Commissions for other securities | 302 |
Underwriting and advisory fees | 1,708 |
Brokerage fees | 1,223 |
Commissions for local payments | 414 |
Commissions for foreign commercial business | 485 |
Commissions for foreign currency/exchange business | 7 |
Commissions for loan processing and guarantees | 690 |
Intermediary fees | 3 |
Fees for sundry other customer services | 730 |
Total fee and commissions income | 5,898 |
Private & Commercial Bank [Member] | |
Major type of services: [Abstract] | |
Commissions for administration | 257 |
Commissions for assets under management | 261 |
Commissions for other securities | 30 |
Underwriting and advisory fees | 17 |
Brokerage fees | 933 |
Commissions for local payments | 1,047 |
Commissions for foreign commercial business | 137 |
Commissions for foreign currency/exchange business | 8 |
Commissions for loan processing and guarantees | 291 |
Intermediary fees | 478 |
Fees for sundry other customer services | 229 |
Total fee and commissions income | 3,688 |
Asset Management [Member] | |
Major type of services: [Abstract] | |
Commissions for administration | 22 |
Commissions for assets under management | 3,131 |
Commissions for other securities | 2 |
Underwriting and advisory fees | (1) |
Brokerage fees | 82 |
Commissions for local payments | 0 |
Commissions for foreign commercial business | 0 |
Commissions for foreign currency/exchange business | 0 |
Commissions for loan processing and guarantees | 0 |
Intermediary fees | 0 |
Fees for sundry other customer services | 117 |
Total fee and commissions income | 3,352 |
Corporate & Other [Member] | |
Major type of services: [Abstract] | |
Commissions for administration | (3) |
Commissions for assets under management | 0 |
Commissions for other securities | 0 |
Underwriting and advisory fees | (28) |
Brokerage fees | 0 |
Commissions for local payments | (1) |
Commissions for foreign commercial business | (1) |
Commissions for foreign currency/exchange business | 0 |
Commissions for loan processing and guarantees | 1 |
Intermediary fees | 12 |
Fees for sundry other customer services | 0 |
Total fee and commissions income | € (18) |
Disaggregation of revenues by_2
Disaggregation of revenues by product type and business segment - based on IFRS 15 (Detail: Text Values) - EUR (€) € in Millions | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Total commissions and fee income and expenses prior to adoption of IFRS 15: | ||
Commissions and fees for Fiduciary activities | € 4,320 | € 4,287 |
Commissions, brokers fees, mark-ups on securities underwriting and other securities activities | 2,985 | 3,305 |
Fees for other customer services | 3,698 | € 4,152 |
Balance of receivables from commission and fee income | 839 | |
Balance of contract liabilities associated to commission and fee income | € 74 |
Net Gains (Losses) on Financi_4
Net Gains (Losses) on Financial Assets Available for Sale (Detail) - EUR (€) € in Millions | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Net gains (losses) on financial assets available for sale [Abstract] | |||
Net gains (losses) on debt securities: | |||
Net gains (losses) from disposal | € 115 | € 230 | |
Impairments | (1) | (1) | |
Net gains (losses) on equity securities: | |||
Net gains (losses) from disposal/remeasurement | 219 | 96 | |
Impairments | (1) | (17) | |
Net gains (losses) on loans: | |||
Net gains (losses) from disposal | 45 | 21 | |
Impairments | (8) | (15) | |
Reversal of impairments | 0 | 0 | |
Net gains (losses) on other equity interests: | |||
Net gains (losses) from disposal | 137 | 348 | |
Impairments | (27) | (9) | |
Total net gains (losses) on financial assets available for sale | € 479 | € 653 |
Other Income (Detail)
Other Income (Detail) - EUR (€) € in Millions | 12 Months Ended | |||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | ||
Other Income [Abstract] | ||||
Net gains (losses) on disposal of loans | € (4) | € 19 | € (128) | |
Insurance premiums | [1] | 3 | 4 | 89 |
Net income (loss) from hedge relationships qualifying for hedge accounting | (497) | (609) | (370) | |
Consolidated investments | 0 | 0 | 362 | |
Remaining other income | [2] | 712 | 112 | 1,100 |
Total other income (loss) | € 215 | € (475) | € 1,053 | |
[1] | Net of reinsurance premiums paid. The development is primarily driven by Abbey Life Assurance Company Limited which has been sold in 2016. | |||
[2] | Includes net gains (losses) of EUR141million, EUR-81million and EUR744million for the years ended December31, 2018, 2017 and 2016, respectively, that are related to non-current assets and disposal groups held for sale. |
Other Income (Detail_ Text Valu
Other Income (Detail: Text Values) - EUR (€) € in Millions | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Other Income [Abstract] | |||
Net gains related to non-current assets and disposal groups held for sale | € 141 | € (81) | € 744 |
General and Administrative Ex_3
General and Administrative Expenses (Detail) - EUR (€) € in Millions | 12 Months Ended | |||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | ||
General and administrative expenses [Abstract] | ||||
IT costs | [1] | € 3,822 | € 3,816 | € 3,872 |
Regulatory, Tax and Insurance | [2],[3] | 1,545 | 1,489 | 1,421 |
Occupancy, furniture and equipment expenses | 1,723 | 1,849 | 1,972 | |
Professional service fees | [1] | 1,530 | 1,750 | 2,305 |
Banking and transaction charges | 753 | 744 | 664 | |
Communication and data services | 636 | 686 | 761 | |
Travel and representation expenses | 347 | 405 | 450 | |
Marketing expenses | 278 | 309 | 285 | |
Other expenses | [4] | 652 | 925 | 3,390 |
Total general and administrative expenses | € 11,286 | € 11,973 | € 15,454 | |
[1] | Prior year numbers have been restated to reflect a shift from IT costs to professional service fees due to a change in the organizational structure. | |||
[2] | Includes bank levy of EUR690million in 2018, EUR596million in 2017 and EUR547million in 2016. | |||
[3] | Regulatory, Tax & Insurance which comprises Bank levy and Insurance and Deposit protection has been presented separately in order to provide further transparency. In the Annual Report for the year ended December 31, 2017, these expenses were included within Other expenses. | |||
[4] | Includes litigation related expenses of EUR88million in 2018, EUR213million in 2017 and EUR 2.4billion in 2016. See Note 29 Provisions, for more detail on litigation. |
General and Administrative Ex_4
General and Administrative Expenses (Detail: Text Values) - EUR (€) € in Millions | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Regulatory, Tax & Insurance [Abstract] | |||
thereof: bank levy | € 690 | € 596 | € 547 |
Other expenses [Abstract] | |||
thereof: litigation related net expenses | 88 | 213 | 2,428 |
thereof: litigation related net credit | € 0 | € 0 | € 0 |
Net Restructuring Expense by Di
Net Restructuring Expense by Division (Detail) - EUR (€) € in Millions | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Corporate & Investment Bank [Member] | |||
Net Restructuring Expense by Division [Line Items] | |||
Total Net Restructuring Charges | € 287 | € 81 | € 299 |
Private & Commercial Bank [Member] | |||
Net Restructuring Expense by Division [Line Items] | |||
Total Net Restructuring Charges | 55 | 360 | 141 |
Asset Management [Member] | |||
Net Restructuring Expense by Division [Line Items] | |||
Total Net Restructuring Charges | 19 | 6 | 47 |
Non-Core Operations Unit [Member] | |||
Net Restructuring Expense by Division [Line Items] | |||
Total Net Restructuring Charges | 0 | 0 | 4 |
Total Net Restructuring Charges [Member] | |||
Net Restructuring Expense by Division [Line Items] | |||
Total Net Restructuring Charges | € 360 | € 447 | € 484 |
Net Restructuring Expense by _2
Net Restructuring Expense by Division (Detail: Text Values) - EUR (€) € in Millions | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 |
Net Restructuring Expense by Division | |||
Provisions for restructuring | € 585 | € 696 | € 741 |
Net Restructuring by Type (Deta
Net Restructuring by Type (Detail) - EUR (€) € in Millions | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Net Restructuring by Type | |||
Restructuring, Staff related | € 367 | € 430 | € 491 |
thereof [Abstract] | |||
Termination Payments | 248 | 402 | 432 |
Retention Acceleration | 113 | 26 | 54 |
Social Security | 6 | 2 | 5 |
Restructuring, Non Staff related | (6) | 17 | (7) |
Total Net Restructuring Charges | € 360 | € 447 | € 484 |
Organizational Changes (Detail)
Organizational Changes (Detail) | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Corporate & Investment Bank [Member] | |||
Organizational Changes [Line Items] | |||
Full-time equivalent staff, Organizational Changes | 1,002.17 | 502 | 356 |
Private & Commercial Bank [Member] | |||
Organizational Changes [Line Items] | |||
Full-time equivalent staff, Organizational Changes | 767.08 | 1,054 | 453 |
Asset Management [Member] | |||
Organizational Changes [Line Items] | |||
Full-time equivalent staff, Organizational Changes | 92.43 | 38 | 101 |
Infrastructure/Regional Management [Member] | |||
Organizational Changes [Line Items] | |||
Full-time equivalent staff, Organizational Changes | 1,138.01 | 451 | 541 |
Total full-time equivalent staff [Member] | |||
Organizational Changes [Line Items] | |||
Full-time equivalent staff, Organizational Changes | 2,999.69 | 2,045 | 1,451 |
Computation of Earnings per Sha
Computation of Earnings per Share (Detail) - EUR (€) € in Millions | 12 Months Ended | |||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | ||
Computation of Earnings per Share [Line Items] | ||||
Net income (loss) attributable to Deutsche Bank shareholders, numerator for basic earnings per share | [1] | € 267 | € (1,049) | € (1,678) |
Effect of dilutive securities [Abstract] | ||||
Forwards and options | 0 | 0 | 0 | |
Convertible debt | 0 | 0 | 0 | |
Net income (loss) attributable to Deutsche Bank shareholders after assumed conversions, numerator for diluted earnings per share | [1] | € 267 | € (1,049) | € (1,678) |
Number of shares in million [Abstract] | ||||
Weighted-average shares outstanding, denominator for basic earnings per share | [2] | 2,102.2 | 1,967.7 | 1,555.3 |
Effect of dilutive securities: | ||||
Forwards | 0 | 0 | 0 | |
Employee stock compensation options | 0 | 0 | 0 | |
Deferred shares | 0 | 0 | 0 | |
Other (including trading options) | 0 | 0 | 0 | |
Dilutive potential common shares | 0 | 0 | 0 | |
Adjusted weighted-average shares after assumed conversions, denominator for diluted earnings per share | [2],[3] | 2,102.2 | 1,967.7 | 1,555.3 |
[1] | Earnings were adjusted by EUR292million and EUR298million and EUR276million net of tax for the coupons paid on Additional Tier 1 Notes in April 2018, April 2017 and April 2016. | |||
[2] | The number of average basic and diluted shares outstanding has been adjusted for all periods before April 2017 in order to reflect the effect of the bonus component of subscription rights issued in April 2017 in connection with the capital increase. | |||
[3] | Due to the net loss situation for 2018, 2017 and 2016 potentially dilutive shares are generally not considered for the earnings per share calculation, because to do so would decrease the net loss per share. Under a net income situation however, the number of adjusted weighted average shares after assumed conversion would have been increased by53million shares for 2018,62million shares for 2017 and27million shares for 2016. |
Computation of Earnings per S_2
Computation of Earnings per Share in Euro (Detail) - € / shares | 12 Months Ended | |||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | ||
Earnings per share [Abstract] | ||||
Basic earnings per share | [1],[2] | € (0.01) | € (0.53) | € (1.08) |
Diluted earnings per share | [1],[2] | € (0.01) | € (0.53) | € (1.08) |
[1] | Earnings were adjusted by EUR292and EUR298 and EUR276million net of tax for the coupons paid on Additional Tier 1 Notes in April 2018, April 2017 and April 2016. In accordance with IAS33 the coupons paid on Additional Tier1 Notes are not attributable to Deutsche Bank shareholders and therefore need to be deducted in the calculation. This adjustment created a net loss situation for Earnings per Common Share for 2018. | |||
[2] | The number of average basic and diluted shares outstanding has been adjusted for all periods before April 2017 in order to reflect the effect of the bonus component of subscription rights issued in April 2017 in connection with the capital increase. |
Computation of Earnings per S_3
Computation of Earnings per Share in Euro (Detail: Text Values) - EUR (€) € in Millions | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Computation of Earnings per Share [Abstract] | |||
Earnings adjustment for coupons paid on Additional Tier 1 Notes in April, net of tax | € 292 | € 298 | € 276 |
Outstanding and Not Included in
Outstanding and Not Included in the Calculation of Diluted Earnings per Share (Detail) - Outstanding and Not Included in the Calculation of Diluted Earnings per Share [Member] - shares | 12 Months Ended | |||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | ||
Outstanding and Not Included in the Calculation of Diluted Earnings per Share [Line Items] | ||||
Call options sold | [1] | 0 | 0 | 0 |
Employee stock compensation options | [1] | 0 | 0 | 0 |
Deferred shares | [1] | 108.8 | 104.4 | 69.6 |
[1] | Not included in the calculation of diluted earnings per share, because to do so would have been anti-dilutive. |
Financial Assets at Fair Valu_3
Financial Assets at Fair Value through Profit and Loss (Detail) - EUR (€) € in Millions | Dec. 31, 2018 | Dec. 31, 2017 | |
Trading Financial Assets [Member] | |||
Financial Assets at Fair Value through Profit and Loss [Line Items] | |||
Trading securities, assets | € 140,720 | € 173,196 | |
Other trading assets | [1] | 12,017 | 11,466 |
Total trading assets | 152,738 | 184,661 | |
Positive market values from derivative financial instruments | 320,058 | 361,032 | |
Total trading financial assets | 472,796 | 545,693 | |
Non-Trading Fair Value [Member] | |||
Financial Assets at Fair Value through Profit and Loss [Line Items] | |||
Securities purchased under resale agreements | 44,543 | ||
Securities borrowed | 24,210 | ||
Loans | 12,741 | ||
Other financial assets mandatory at fair value through profit or loss | 18,951 | ||
Total non-trading financial assets mandatory at fair value through profit or loss | 100,444 | ||
Designated Fair Value [Member] | |||
Financial Assets at Fair Value through Profit and Loss [Line Items] | |||
Securities purchased under resale agreements | 0 | 57,843 | |
Securities borrowed | 0 | 20,254 | |
Loans | 0 | 4,802 | |
Other financial assets mandatory at fair value through profit or loss | 104 | 8,377 | |
Total financial assets designated at fair value through profit or loss | 104 | 91,276 | |
Total financial assets at fair value through profit or loss | € 573,344 | € 636,970 | |
[1] | Includes traded loans of EUR11.5billion and EUR10.9billion at December 31, 2018 and 2017 respectively. |
Financial Assets at Fair Valu_4
Financial Assets at Fair Value through Profit and Loss (Detail: Text Values) - EUR (€) € in Millions | Dec. 31, 2018 | Dec. 31, 2017 |
Financial Assets at Fair Value through Profit and Loss [Abstract] | ||
Traded loans included in "Other trading assets" | € 11,500 | € 10,900 |
Group's maximum exposure to credit risk on drawn loans, including securities purchased under resale agreements and securities borrowed | € 0 | € 82,899 |
Financial Liabilities at Fair V
Financial Liabilities at Fair Value through Profit and Loss (Detail) - EUR (€) € in Millions | Dec. 31, 2018 | Dec. 31, 2017 |
Trading liabilities: | ||
Trading securities, liabilities | € 59,629 | € 71,148 |
Other trading liabilities | 295 | 314 |
Total trading liabilities | 59,924 | 71,462 |
Negative market values from derivative financial instruments | 301,487 | 342,726 |
Total trading financial liabilities | 361,411 | 414,189 |
Financial liabilities designated at fair value through profit or loss: | ||
Securities sold under repurchase agreements | 46,254 | 53,840 |
Loan commitments | 0 | 8 |
Long-term debt | 5,607 | 6,439 |
Other financial liabilities designated at fair value through profit or loss | 1,895 | 3,587 |
Total financial liabilities designated at fair value through profit or loss | 53,757 | 63,874 |
Investment contract liabilities | 512 | 574 |
Total financial liabilities at fair value through profit or loss | € 415,680 | € 478,636 |
Changes in fair value of financ
Changes in fair value of financial assets attributable to movements in counterparty credit risk (Detail) - Changes in fair value of of financial assets attributable to movements in couterparty credit risk [Member] - EUR (€) | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Changes in fair value of financial assets attributable to movements in couterparty credit risk [line items] | ||
Notional value of financial assets exposed to credit risk | € 0 | |
Annual change in the fair value reflected in the Statement of Income | 0 | |
Cumulative change in the fair value | 0 | |
Notional of credit derivatives used to mitigate credit risk | 0 | |
Annual change in the fair value reflected in the Statement of Income | 0 | |
Cumulative change in the fair value | € 0 |
Changes in fair value of loans
Changes in fair value of loans and loan commitments attributable to movements in couterparty credit risk (Detail) - EUR (€) € in Millions | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | [1],[2] | |
Loans [Member] | |||
Changes in fair value of loans and loan commitments attributable to movements in couterparty credit risk [line items] | |||
Notional value of loans and loan commitments exposed to credit risk | € 2,865 | ||
Annual change in the fair value reflected in the Statement of Income | 7 | ||
Cumulative change in the fair value | 10 | [3] | |
Notional of credit derivatives used to mitigate credit risk | 536 | ||
Annual change in the fair value reflected in the Statement of Income | 0 | ||
Cumulative change in the fair value | 1 | [3] | |
Loan commitments [Member] | |||
Changes in fair value of loans and loan commitments attributable to movements in couterparty credit risk [line items] | |||
Notional value of loans and loan commitments exposed to credit risk | 1,973 | ||
Annual change in the fair value reflected in the Statement of Income | 14 | ||
Cumulative change in the fair value | 30 | [3] | |
Notional of credit derivatives used to mitigate credit risk | 4,728 | ||
Annual change in the fair value reflected in the Statement of Income | (42) | ||
Cumulative change in the fair value | € (46) | [3] | |
[1] | Determined using valuation models that exclude the fair value impact associated with market risk. | ||
[2] | Where the loans are over-collateralized there is no material movement in valuation during the year or cumulatively due to movements in counterparty credit risk. | ||
[3] | Changes are attributable to loans and loan commitments held at reporting date, which may differ from those held in prior periods. No adjustments are made to prior year to reflect differences in the underlying population. |
Changes in fair value of fina_2
Changes in fair value of financial liabilities attributable to movements in the Groups credit risk (Detail) - EUR (€) € in Millions | 12 Months Ended | |||
Dec. 31, 2018 | Dec. 31, 2017 | |||
Presented in Other comprehensive Income [Member] | ||||
Changes in Fair Value of Financial Liabilities Designated at Fair Value through Profit or Loss [Line Items] | ||||
Cumulative change in the fair value | € (49) | [1] | ||
Presented in Statement of income [Member] | ||||
Changes in Fair Value of Financial Liabilities Designated at Fair Value through Profit or Loss [Line Items] | ||||
Annual change in the fair value | [1] | 0 | 60 | |
Cumulative change in the fair value | [1] | € 0 | € 72 | |
[1] | The fair value of a financial liability incorporates the credit risk of that financial liability. Changes in the fair value of financial liabilities issued by consolidated structured entities have been excluded as this is not related to the Groups credit risk but to that of the legally isolated structured entity, which is dependent on the collateral it holds. |
Transfers of the cumulative gai
Transfers of the cumulative gains or losses within equity during the period (Detail) - EUR (€) € in Millions | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Transfers of the cumulative gains or losses within equity during the period [Abstract] | ||
Cumulative gains or losses within equity during the period | € 0 |
Amounts realized on derecogniti
Amounts realized on derecognition of liabilities designated at FVtPL (Detail) - EUR (€) € in Millions | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Amounts realized on derecognition of liabilities designated at FVtPL [Abstract] | ||
Amount presented in other comprehensive income realized at derecognition | € (3) |
Excess of the Contractual Amoun
Excess of the Contractual Amount Repayable at Maturity over the Carrying Value of Financial Liabilities (Detail) - EUR (€) € in Millions | Dec. 31, 2018 | Dec. 31, 2017 | |
Excess of the Contractual Amount Repayable at Maturity over the Carrying Value of Financial Liabilities | |||
Including undrawn loan commitments | [1],[2] | € 2,545 | € 6,088 |
Excluding undrawn loan commitments | [1] | € 2,536 | € 2,073 |
[1] | Assuming the liability is extinguished at the earliest contractual maturity that the Group can be required to repay. When the amount payable is not fixed, it is determined by reference to conditions existing at the reporting date. | ||
[2] | The contractual cash flows at maturity for undrawn loan commitments assume full drawdown of the facility. |
Carrying Value of The Financial
Carrying Value of The Financial Instruments held at Fair Value (Detail) - EUR (€) € in Millions | Dec. 31, 2018 | Dec. 31, 2017 | |||
Quoted prices in active market (Level 1) | |||||
Financial assets held at fair value: | |||||
Trading assets | [1] | € 75,415 | € 106,075 | ||
Trading securities, assets | [1] | 75,210 | 105,792 | ||
Other trading assets | [1] | 205 | 283 | ||
Positive market values from derivative financial instruments | [1] | 10,140 | 12,280 | ||
Non-trading financial assets mandatory at fair value through profit and loss | 8,288 | [1] | |||
Financial assets designated at fair value through profit or loss | [1] | 104 | 6,547 | ||
Financial assets mandatory at fair value through other comprehensive income | 32,517 | [1] | |||
Financial assets available for sale | 29,579 | [1] | |||
Other financial assets at fair value | [1] | 42 | 0 | ||
Total financial assets held at fair value | [1] | 126,505 | 154,480 | ||
Financial liabilities held at fair value: | |||||
Trading liabilities | [1] | 42,548 | 53,644 | ||
Trading securities, liabilities | [1] | 42,547 | 53,644 | ||
Other trading liabilities | [1] | 1 | 0 | ||
Negative market values from derivative financial instruments | [1] | 9,638 | 9,163 | ||
Financial liabilities designated at fair value through profit or loss | [1] | 119 | 4 | ||
Investment contract liabilities | [1] | 0 | 0 | ||
Other financial liabilities at fair value | [1] | 201 | 0 | ||
Total financial liabilities held at fair value | [1] | 52,505 | 62,810 | ||
Valuation technique observable parameters (Level 2) | |||||
Financial assets held at fair value: | |||||
Trading assets | [1] | 67,560 | 69,543 | ||
Trading securities, assets | [1] | 61,424 | 62,770 | ||
Other trading assets | [1] | 6,136 | 6,773 | ||
Positive market values from derivative financial instruments | [1] | 301,609 | 341,413 | ||
Non-trading financial assets mandatory at fair value through profit and loss | 86,090 | [1] | |||
Financial assets designated at fair value through profit or loss | [1] | 0 | 83,242 | ||
Financial assets mandatory at fair value through other comprehensive income | 18,397 | [1] | |||
Financial assets available for sale | 15,713 | [1] | |||
Other financial assets at fair value | [1],[2] | 2,779 | 3,258 | ||
Total financial assets held at fair value | [1] | 476,435 | 513,169 | ||
Financial liabilities held at fair value: | |||||
Trading liabilities | [1] | 17,361 | 17,817 | ||
Trading securities, liabilities | [1] | 17,082 | 17,503 | ||
Other trading liabilities | [1] | 279 | 314 | ||
Negative market values from derivative financial instruments | [1] | 285,561 | 327,572 | ||
Financial liabilities designated at fair value through profit or loss | [1] | 51,617 | 62,426 | ||
Investment contract liabilities | [1] | 512 | 574 | ||
Other financial liabilities at fair value | [1],[2] | 2,658 | 2,559 | [3] | |
Total financial liabilities held at fair value | [1] | 357,709 | 410,948 | ||
Valuation technique unobservable parameters (Level 3) | |||||
Financial assets held at fair value: | |||||
Trading assets | [1] | 9,763 | 9,043 | ||
Trading securities, assets | [1] | 4,086 | 4,634 | ||
Other trading assets | [1] | 5,676 | 4,409 | ||
Positive market values from derivative financial instruments | [1] | 8,309 | 7,340 | ||
Non-trading financial assets mandatory at fair value through profit and loss | 6,066 | [1] | |||
Financial assets designated at fair value through profit or loss | [1] | 0 | 1,488 | ||
Financial assets mandatory at fair value through other comprehensive income | 268 | [1] | |||
Financial assets available for sale | 4,104 | [1] | |||
Other financial assets at fair value | [1] | 207 | 47 | ||
Total financial assets held at fair value | [1] | 24,614 | 22,022 | ||
Financial liabilities held at fair value: | |||||
Trading liabilities | [1] | 15 | 2 | ||
Trading securities, liabilities | [1] | 0 | 2 | ||
Other trading liabilities | [1] | 15 | 0 | ||
Negative market values from derivative financial instruments | [1] | 6,289 | 5,992 | ||
Financial liabilities designated at fair value through profit or loss | [1] | 2,021 | 1,444 | ||
Investment contract liabilities | [1] | 0 | 0 | ||
Other financial liabilities at fair value | [1],[4] | (611) | (298) | ||
Total financial liabilities held at fair value | [1] | € 7,714 | € 7,139 | ||
[1] | Amounts in this table are generally presented on a gross basis, in line with the Groups accounting policy regarding offsetting of financial instruments, as described in Note 1 Significant Accounting Policies and Critical Accounting Estimates. | ||||
[2] | Predominantly relates to derivatives qualifying for hedge accounting. | ||||
[3] | Restatement undertaken represents pure reclass from Note 14 Fair Value of Financial Instruments not carried at Fair Value to Note 13 Financial Instruments carried at Fair Value- no change in amounts. Amounts are carried at fair value. | ||||
[4] | Relates to derivatives which are embedded in contracts where the host contract is held at amortized cost but for which the embedded derivative is separated. The separated embedded derivatives may have a positive or a negative fair value but have been presented in this table to be consistent with the classification of the host contract. The separated embedded derivatives are held at fair value on a recurring basis and have been split between the fair value hierarchy classifications. |
Reconciliation of Financial Ins
Reconciliation of Financial Instruments Categorized in Level 3 (Detail) - EUR (€) € in Millions | Dec. 31, 2018 | Dec. 31, 2017 | |||
Balance, beginning of period [Member] | |||||
Financial assets held at fair value [Abstract] | |||||
Trading securities, assets | € 4,148 | € 5,012 | |||
Positive market values from derivative financial instruments | 7,340 | 9,798 | |||
Other trading assets | 4,426 | 5,674 | |||
Non-trading financial assets mandatory at fair value through profit and loss | 4,573 | ||||
Financial assets designated at fair value through profit or loss | 91 | 1,601 | |||
Financial assets mandatory at fair value through other comprehensive income | 231 | ||||
Financial assets available for sale | 4,153 | ||||
Other financial assets at fair value | 47 | 33 | |||
Total financial assets held at fair value | 20,855 | [1] | 26,271 | ||
Financial liabilities held at fair value Abstract, Gains or Losses | |||||
Trading securities, liabilities | 2 | 52 | |||
Negative market values from derivative financial instruments | 5,992 | 8,857 | |||
Other trading liabilities | 0 | 0 | |||
Financial liabilities designated at fair value through profit or loss | 1,444 | 2,229 | |||
Other financial liabilities at fair value | (298) | (848) | |||
Total financial liabilities held at fair value | 7,139 | 10,290 | |||
Changes in the group of consolidated companies [Member] | |||||
Financial assets held at fair value [Abstract] | |||||
Trading securities, assets | 6 | (1) | |||
Positive market values from derivative financial instruments | 0 | 0 | |||
Other trading assets | 0 | (7) | |||
Non-trading financial assets mandatory at fair value through profit and loss | 3 | ||||
Financial assets designated at fair value through profit or loss | 0 | 0 | |||
Financial assets mandatory at fair value through other comprehensive income | 3 | ||||
Financial assets available for sale | (40) | ||||
Other financial assets at fair value | 0 | 0 | |||
Total financial assets held at fair value | 12 | (47) | |||
Financial liabilities held at fair value Abstract, Gains or Losses | |||||
Trading securities, liabilities | 0 | 0 | |||
Negative market values from derivative financial instruments | 0 | (5) | |||
Other trading liabilities | 0 | 0 | |||
Financial liabilities designated at fair value through profit or loss | 0 | (7) | |||
Other financial liabilities at fair value | 0 | 0 | |||
Total financial liabilities held at fair value | 0 | (12) | |||
Total gains/ losses [Member] | |||||
Financial assets held at fair value [Abstract] | |||||
Trading securities, assets | [2] | 105 | (153) | ||
Positive market values from derivative financial instruments | [2] | 718 | (610) | ||
Other trading assets | [2] | 233 | (283) | ||
Non-trading financial assets mandatory at fair value through profit and loss | [2] | 426 | |||
Financial assets designated at fair value through profit or loss | [2] | 4 | (78) | ||
Financial assets mandatory at fair value through other comprehensive income | [2],[3] | (4) | |||
Financial assets available for sale | [2],[4] | 205 | |||
Other financial assets at fair value | [2] | 0 | 33 | ||
Total financial assets held at fair value | [2],[5] | 1,481 | (886) | ||
Financial liabilities held at fair value Abstract, Gains or Losses | |||||
Trading securities, liabilities | [2] | (1) | (6) | ||
Negative market values from derivative financial instruments | [2] | 531 | (64) | ||
Other trading liabilities | [2] | (1) | 0 | ||
Financial liabilities designated at fair value through profit or loss | [2] | (121) | (128) | ||
Other financial liabilities at fair value | [2] | (299) | 268 | ||
Total financial liabilities held at fair value | [2],[5] | 110 | [6] | 69 | [7] |
Purchases [Member] | |||||
Financial assets held at fair value [Abstract] | |||||
Trading securities, assets | 2,146 | 2,144 | |||
Positive market values from derivative financial instruments | 0 | 0 | |||
Other trading assets | 981 | 2,095 | |||
Non-trading financial assets mandatory at fair value through profit and loss | 3,627 | ||||
Financial assets designated at fair value through profit or loss | 0 | 807 | |||
Financial assets mandatory at fair value through other comprehensive income | 260 | ||||
Financial assets available for sale | 722 | ||||
Other financial assets at fair value | 0 | 0 | |||
Total financial assets held at fair value | 7,014 | 5,768 | |||
Financial liabilities held at fair value Abstract, Gains or Losses | |||||
Trading securities, liabilities | 0 | 0 | |||
Negative market values from derivative financial instruments | 0 | 0 | |||
Other trading liabilities | 0 | 0 | |||
Financial liabilities designated at fair value through profit or loss | 0 | 0 | |||
Other financial liabilities at fair value | 0 | 0 | |||
Total financial liabilities held at fair value | 0 | 0 | |||
Sales [Member] | |||||
Financial assets held at fair value [Abstract] | |||||
Trading securities, assets | (1,908) | (1,660) | |||
Positive market values from derivative financial instruments | 0 | 0 | |||
Other trading assets | (2,027) | (2,328) | |||
Non-trading financial assets mandatory at fair value through profit and loss | (567) | ||||
Financial assets designated at fair value through profit or loss | 0 | (118) | |||
Financial assets mandatory at fair value through other comprehensive income | (162) | ||||
Financial assets available for sale | (249) | ||||
Other financial assets at fair value | 0 | 0 | |||
Total financial assets held at fair value | (4,664) | (4,356) | |||
Financial liabilities held at fair value Abstract, Gains or Losses | |||||
Trading securities, liabilities | 0 | 0 | |||
Negative market values from derivative financial instruments | 0 | 0 | |||
Other trading liabilities | 0 | 0 | |||
Financial liabilities designated at fair value through profit or loss | 0 | 0 | |||
Other financial liabilities at fair value | 0 | 0 | |||
Total financial liabilities held at fair value | 0 | 0 | |||
Issuances [Member] | |||||
Financial assets held at fair value [Abstract] | |||||
Trading securities, assets | [8] | 0 | 0 | ||
Positive market values from derivative financial instruments | [8] | 0 | 0 | ||
Other trading assets | [8] | 3,055 | 636 | ||
Non-trading financial assets mandatory at fair value through profit and loss | [8] | 1,013 | |||
Financial assets designated at fair value through profit or loss | [8] | 0 | 63 | ||
Financial assets mandatory at fair value through other comprehensive income | [8] | 0 | |||
Financial assets available for sale | [8] | 0 | |||
Other financial assets at fair value | [8] | 0 | 0 | ||
Total financial assets held at fair value | [8] | 4,068 | 699 | ||
Financial liabilities held at fair value Abstract, Gains or Losses | |||||
Trading securities, liabilities | [8] | 0 | 0 | ||
Negative market values from derivative financial instruments | [8] | 0 | 0 | ||
Other trading liabilities | [8] | 0 | 0 | ||
Financial liabilities designated at fair value through profit or loss | [8] | 692 | 146 | ||
Other financial liabilities at fair value | [8] | 0 | 0 | ||
Total financial liabilities held at fair value | [8] | 692 | 146 | ||
Settlements [Member] | |||||
Financial assets held at fair value [Abstract] | |||||
Trading securities, assets | [9] | (481) | (818) | ||
Positive market values from derivative financial instruments | [9] | (137) | (1,889) | ||
Other trading assets | [9] | (1,241) | (1,803) | ||
Non-trading financial assets mandatory at fair value through profit and loss | [9] | (3,128) | |||
Financial assets designated at fair value through profit or loss | [9] | (22) | (710) | ||
Financial assets mandatory at fair value through other comprehensive income | [9] | (6) | |||
Financial assets available for sale | [9] | (1,206) | |||
Other financial assets at fair value | [9] | 0 | (26) | ||
Total financial assets held at fair value | [9] | (5,015) | (6,453) | ||
Financial liabilities held at fair value Abstract, Gains or Losses | |||||
Trading securities, liabilities | [9] | 0 | (46) | ||
Negative market values from derivative financial instruments | [9] | (522) | (1,827) | ||
Other trading liabilities | [9] | 16 | 0 | ||
Financial liabilities designated at fair value through profit or loss | [9] | (270) | (564) | ||
Other financial liabilities at fair value | [9] | 38 | 286 | ||
Total financial liabilities held at fair value | [9] | (738) | (2,151) | ||
Transfers into Level 3 [Member] | |||||
Financial assets held at fair value [Abstract] | |||||
Trading securities, assets | [10] | 897 | 772 | ||
Positive market values from derivative financial instruments | [10] | 1,940 | 2,298 | ||
Other trading assets | [10] | 506 | 950 | ||
Non-trading financial assets mandatory at fair value through profit and loss | [10] | 411 | |||
Financial assets designated at fair value through profit or loss | [10] | 0 | 58 | ||
Financial assets mandatory at fair value through other comprehensive income | [10] | 2 | |||
Financial assets available for sale | [10] | 539 | |||
Other financial assets at fair value | [10] | 207 | 7 | ||
Total financial assets held at fair value | [10] | 3,963 | 4,624 | ||
Financial liabilities held at fair value Abstract, Gains or Losses | |||||
Trading securities, liabilities | [10] | 0 | 1 | ||
Negative market values from derivative financial instruments | [10] | 1,319 | 924 | ||
Other trading liabilities | [10] | 0 | 0 | ||
Financial liabilities designated at fair value through profit or loss | [10] | 408 | 154 | ||
Other financial liabilities at fair value | [10] | (29) | (18) | ||
Total financial liabilities held at fair value | [10] | 1,699 | 1,061 | ||
Transfers out of Level 3 [Member] | |||||
Financial assets held at fair value [Abstract] | |||||
Trading securities, assets | [10] | (826) | (662) | ||
Positive market values from derivative financial instruments | [10] | (1,551) | (2,257) | ||
Other trading assets | [10] | (257) | (524) | ||
Non-trading financial assets mandatory at fair value through profit and loss | [10] | (292) | |||
Financial assets designated at fair value through profit or loss | [10] | (72) | (134) | ||
Financial assets mandatory at fair value through other comprehensive income | [10] | (55) | |||
Financial assets available for sale | [10] | (21) | |||
Other financial assets at fair value | [10] | (47) | 0 | ||
Total financial assets held at fair value | [10] | (3,100) | (3,598) | ||
Financial liabilities held at fair value Abstract, Gains or Losses | |||||
Trading securities, liabilities | [10] | (1) | 0 | ||
Negative market values from derivative financial instruments | [10] | (1,031) | (1,892) | ||
Other trading liabilities | [10] | 0 | 0 | ||
Financial liabilities designated at fair value through profit or loss | [10] | (134) | (387) | ||
Other financial liabilities at fair value | [10] | (23) | 15 | ||
Total financial liabilities held at fair value | [10] | (1,189) | (2,265) | ||
Balance, end of period [Member] | |||||
Financial assets held at fair value [Abstract] | |||||
Trading securities, assets | 4,086 | 4,634 | |||
Positive market values from derivative financial instruments | 8,309 | 7,340 | |||
Other trading assets | 5,676 | 4,409 | |||
Non-trading financial assets mandatory at fair value through profit and loss | 6,066 | ||||
Financial assets designated at fair value through profit or loss | 0 | 1,488 | |||
Financial assets mandatory at fair value through other comprehensive income | 268 | ||||
Financial assets available for sale | 4,104 | ||||
Other financial assets at fair value | 207 | 47 | |||
Total financial assets held at fair value | 24,614 | 22,022 | |||
Financial liabilities held at fair value Abstract, Gains or Losses | |||||
Trading securities, liabilities | 0 | 2 | |||
Negative market values from derivative financial instruments | 6,289 | 5,992 | |||
Other trading liabilities | 15 | 0 | |||
Financial liabilities designated at fair value through profit or loss | 2,021 | 1,444 | |||
Other financial liabilities at fair value | (611) | (298) | |||
Total financial liabilities held at fair value | € 7,714 | € 7,139 | |||
[1] | Opening balances have been restated due to reassessment of trades due to IFRS 9. | ||||
[2] | Total gains and losses predominantly relate to net gains (losses) on financial assets/liabilities at fair value through profit or loss reported in the consolidated statement of income. The balance also includes net gains (losses) on financial assets available for sale reported in the consolidated statement of income and unrealized net gains (losses) on financial assets available for sale and exchange rate changes reported in other comprehensive income, net of tax. Further, certain instruments are hedged with instruments in Level 1 or Level 2 but the table above does not include the gains and losses on these hedging instruments. Additionally, both observable and unobservable parameters may be used to determine the fair value of an instrument classified within Level 3 of the fair value hierarchy; the gains and losses presented below are attributable to movements in both the observable and unobservable parameters. | ||||
[3] | Total gains and losses on financial assets at fair value through other comprehensive income include a loss of EUR8million recognized in other comprehensive income, net of tax, and a loss of EUR4million recognized in the income statement presented in net gains (losses). | ||||
[4] | Total gains and losses on available for sale include a gain of EUR94million recognized in other comprehensive income, net of tax, and a loss of EUR8million recognized in the income statement presented in net gains (losses) on financial assets available for sale. | ||||
[5] | For assets positive balances represent gains, negative balances represent losses. For liabilities positive balances represent losses, negative balances represent gains. | ||||
[6] | This amount includes the effect of exchange rate changes. For total financial assets held at fair value this effect is a gain of EUR136million and for total financial liabilities held at fair value this is a loss of EUR33million. The effect of exchange rate changes is reported in other comprehensive income, net of tax. | ||||
[7] | This amount includes the effect of exchange rate changes. For total financial assets held at fair value this effect is a loss of EUR565million and for total financial liabilities held at fair value this is a gain of EUR123million. The effect of exchange rate changes is reported in other comprehensive income, net of tax. | ||||
[8] | Issuances relate to the cash amount received on the issuance of a liability and the cash amount paid on the primary issuance of a loan to a borrower. | ||||
[9] | Settlements represent cash flows to settle the asset or liability. For debt and loan instruments this includes principal on maturity, principal amortizations and principal repayments. For derivatives all cash flows are presented in settlements. | ||||
[10] | Transfers in and transfers out of Level 3 are related to changes in observability of input parameters. During the year they are recorded at their fair value at the beginning of year. For instruments transferred into Level 3 the table shows the gains and losses and cash flows on the instruments as if they had been transferred at the beginning of the year. Similarly for instruments transferred out of Level 3 the table does not show any gains or losses or cash flows on the instruments during the year since the table is presented as if they have been transferred out at the beginning of the year. |
Reconciliation of Financial I_2
Reconciliation of Financial Instruments Categorized in Level 3 (Detail: Text Values) - Total gains/ losses [Member] - EUR (€) € in Millions | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Financial assets at fair value through other comprehensive income [Abstract] | ||
therein gain (loss) recognized in other comprehensive income, net of tax | € (8) | € 94 |
therein gain (loss) recognized in the income statement presented in net gains (losses), net of tax | (4) | (8) |
Financial assets held at fair value: | ||
therein effect of exchange rate changes | 136 | (565) |
Financial liabilities held at fair value: | ||
therein effect of exchange rate changes | € (33) | € 123 |
Sensitivity Analysis by Type of
Sensitivity Analysis by Type of Instrument (Detail) - Valuation technique unobservable parameters (Level 3) - EUR (€) € in Millions | Dec. 31, 2018 | Dec. 31, 2017 | |
Positive fair value movement from using reasonable possible alternatives [Member] | |||
Securities: | |||
Debt securities | [1] | € 179 | € 126 |
Commercial mortgage-backed securities | [1] | 5 | 6 |
Mortgage and other asset-backed securities | [1] | 38 | 26 |
Corporate, sovereign and other debt securities | [1] | 136 | 94 |
Equity securities | [1] | 84 | 95 |
Derivatives [Abstract] | |||
Credit | [1] | 151 | 155 |
Equity | [1] | 257 | 164 |
Interest related | [1] | 346 | 340 |
Foreign exchange | [1] | 49 | 65 |
Other | [1] | 106 | 106 |
Loans [Abstract] | |||
Loans | [1] | 475 | 504 |
Loan commitments | [1] | 0 | 0 |
Other | [1] | 0 | 0 |
Total | [1] | 1,647 | 1,556 |
Negative fair value movement from using reasonable possible alternatives [Member] | |||
Securities: | |||
Debt securities | [1] | 118 | 90 |
Commercial mortgage-backed securities | [1] | 4 | 6 |
Mortgage and other asset-backed securities | [1] | 37 | 28 |
Corporate, sovereign and other debt securities | [1] | 77 | 56 |
Equity securities | [1] | 67 | 67 |
Derivatives [Abstract] | |||
Credit | [1] | 116 | 125 |
Equity | [1] | 207 | 138 |
Interest related | [1] | 206 | 173 |
Foreign exchange | [1] | 26 | 12 |
Other | [1] | 89 | 73 |
Loans [Abstract] | |||
Loans | [1] | 219 | 320 |
Loan commitments | [1] | 0 | 0 |
Other | [1] | 0 | 0 |
Total | [1] | € 1,046 | € 999 |
[1] | Where the exposure to an unobservable parameter is offset across different instruments then only the net impact is disclosed in the table. |
Quantitative Information about
Quantitative Information about Fair Value (Level 3) (Detail) - Valuation technique unobservable parameters (Level 3) - EUR (€) € in Millions | 12 Months Ended | ||||
Dec. 31, 2018 | Dec. 31, 2017 | ||||
Assets [Member] | |||||
Mortgage and other asset backed securities held for trading: | |||||
Commercial mortgage-backed securities | € 66 | € 79 | |||
Mortgage and other asset-backed securities | 745 | 714 | |||
Total mortgage- and other asset-backed securities | 811 | 793 | |||
Debt securites and other debt obligations | 3,876 | 3,870 | |||
Debt securities and other debt obligations, held for trading | 3,037 | 3,559 | |||
Corporate, sovereign and other debt securities (held for trading) | 3,037 | 3,559 | |||
Debt securities and other debt obligations, available for sale | 267 | ||||
Debt securities and other debt obligations, Non-trading financial assets mandatory at fair value through profit or loss | 726 | ||||
Debt securities and other debt obligations, designated at fair value | 0 | 44 | |||
Debt securities and other debt obligations, Mandatory at fair value through OCI | 114 | ||||
Equity securities | 1,244 | 913 | |||
Equity securities, held for trading | 239 | 282 | |||
Equity securities, Non-trading financial assets mandatory at fair value through profit or loss | 1,005 | ||||
Equity securities, available for sale | 480 | ||||
Equity securities, designated at fair value through P/L | 151 | ||||
Loans | 7,167 | 7,397 | |||
Loans, held for trading | 5,651 | 4,376 | |||
Loans, Non-trading financial assets mandatory at fair value through profit or loss | 1,362 | ||||
Loans, Designated at fair value through profit or loss | 0 | 338 | |||
Loans, Available-for-sale | 2,684 | ||||
Loan commitments (financial instruments) | 0 | 0 | |||
Other financial instruments | 2,999 | [1] | 1,710 | [2] | |
Total non-derivative financial instruments held at fair value | 16,097 | 14,683 | |||
Market values from derivative financial instruments: | |||||
Interest rates derivatives | 4,264 | 4,466 | |||
Credit derivatives | 638 | 630 | |||
Equity derivatives | 1,583 | 728 | |||
FX derivatives | 1,034 | 1,113 | |||
Other derivatives | 997 | 402 | |||
Total market values from derivative financial instruments | 8,516 | 7,340 | |||
Liabilities [Member] | |||||
Mortgage and other asset backed securities held for trading: | |||||
Commercial mortgage-backed securities | 0 | 0 | |||
Mortgage and other asset-backed securities | 0 | 0 | |||
Total mortgage- and other asset-backed securities | 0 | 0 | |||
Debt securites and other debt obligations | 1,764 | 1,307 | |||
Debt securities and other debt obligations, held for trading | 0 | 2 | |||
Debt securities and other debt obligations, designated at fair value | 1,764 | 1,305 | |||
Equity securities | 0 | 0 | |||
Equity securities, held for trading | 0 | 0 | |||
Loans | 15 | 0 | |||
Loans, held for trading | 15 | 0 | |||
Loans, Designated at fair value through profit or loss | 0 | ||||
Loan commitments (financial instruments) | 0 | 8 | |||
Other financial instruments | 257 | [3] | 131 | [4] | |
Total non-derivative financial instruments held at fair value | 2,037 | 1,446 | |||
Market values from derivative financial instruments: | |||||
Interest rates derivatives | 2,568 | 2,250 | |||
Credit derivatives | 964 | 909 | |||
Equity derivatives | 1,498 | 1,347 | |||
FX derivatives | 1,005 | 1,058 | |||
Other derivatives | [5] | (357) | 129 | ||
Total market values from derivative financial instruments | € 5,677 | € 5,693 | |||
Financial Instruments classified in Level 3, Valuation Techniques, Significant unobservable input, Range Bottom [Member] | |||||
Mortgage and other asset backed securities held for trading: | |||||
Commercial mortgage-backed securities, Price based valuation, Price | [6] | 0.00% | 0.00% | ||
Commercial mortgage-backed securities, Discounted cash flow valuation, Credit spread (bps) | [6] | 97 | 136 | ||
Mortgage and other asset-backed securities, Price based valuation, Price | [6] | 0.00% | 0.00% | ||
Mortgage and other asset-backed securities, Discounted cash flow valuation, Credit spread (bps) | [6] | 26 | 12 | ||
Mortgage and other asset-backed securities, Discounted cash flow valuation, Recovery rate | [6] | 0.00% | 0.00% | ||
Mortgage and other asset-backed securities, Discounted cash flow valuation, Constant default rate | [6] | 0.00% | 0.00% | ||
Mortgage and other asset-backed securities, Discounted cash flow valuation, Constant prepayment rate | [6] | 0.00% | 0.00% | ||
Debt securites and other debt obligations, Price based valuation, Price | [6] | 0.00% | 0.00% | ||
Debt securuties and other debt obligations, Discounted cash flow valuation, Credit spread (bps) | 5 | 34.33 | |||
Equity securities, Market approach valuation, Price per net asset value | [6] | 70.00% | 60.00% | ||
Equity securities, Market approach valuation, Enterprise value / EBITDA (multiple) | 5.5 | 1 | |||
Equity securities, available-for-sale, Discounted cash flow valuation, Weighted average cost capital | 7.00% | 8.00% | |||
Loans, Priced based valuation, Price | [6] | 0.00% | 0.00% | ||
Loans, Discounted cash flow valuation, Credit spread (bps) | 39.6 | 190 | |||
Loans, Discounted cash flow, Constant default rate | € 0 | ||||
Loans, Discounted cash flow valuation, Recovery rate | 35.00% | 40.00% | |||
Loan Commitments, Discounted cash flow valuation, Credit spread (bps) | [6] | 29.83 | 5 | ||
Loan Commitments, Discounted cash flow valuation, Recovery rate | [6] | 25.00% | 37.00% | ||
Loan Commitment, Loan Pricing Model Valuation, Utilization | [6] | 0.00% | 0.00% | ||
Other financial instruments, Discounted cash flow valuation, IRR | [6] | 3.00% | 1.00% | ||
Other financial instruments, Discounted cash flow valuation, Repo rate (bps) | [6] | 65 | 224 | ||
Market values from derivative financial instruments: | |||||
Interest rate derivatives, Discounted cash flow valuation, Swap rate (bps) | [6] | (124) | (72) | ||
Interest rate derivatives, Discounted cash flow valuation, Inflation swap rate | [6] | 1.00% | (3.00%) | ||
Interest rate derivatives, Discounted cash flow valuation, Constant default rate | [6] | 0.00% | 0.00% | ||
Interest rate derivatives, Discounted cash flow valuation, Constant prepayment rate | [6] | 2.00% | 2.00% | ||
Interest rate derivatives, Option pricing model valuation, Inflation volatility | [6] | 0.00% | 0.00% | ||
Interest rate derivatives, Option pricing model valuation, Interest rate volatility | [6] | 0.00% | 0.00% | ||
Interest rate derivatives, Option pricing model valuation, IR - IR correlation | [6] | (30.00%) | (25.00%) | ||
Interest rate derivatives, Option pricing model valuation, Hybrid correlation | [6] | (59.00%) | (85.00%) | ||
Credit derivatives, Discounted cash flow valuation, Credit spread (bps) | [6] | 0 | 0 | ||
Credit derivatives, Discounted cash flow valuation, Recovery rate | [6] | 0.00% | 0.00% | ||
Credit derivatives, Correlation pricing model valuation, Credit correlation | [6] | 25.00% | 37.00% | ||
Equity derivatives, Option pricing model valuation, Stock volatility | [6] | 4.00% | 6.00% | ||
Equity derivatives, Option pricing model valuation, Index volatility | [6] | 11.00% | 7.00% | ||
Equity derivatives, Option pricing model valuation, Index - index-correlation | [6] | 73.00% | |||
Equity derivatives, Option pricing model valuation, Stock - stock correlation | [6] | 2.00% | 2.00% | ||
Equity derivatives, Option pricing model valuation, Stock forwards | [6] | 0.00% | 0.00% | ||
Equity derivatives, Option pricing model valuation, Index forwards | [6] | 0.00% | 0.00% | ||
FX derivatives, Option pricing model valuation, Volatilty | [6] | (6.00%) | (6.00%) | ||
Other derivatives, Option pricing model valuation, Index volatilty | [6] | 5.00% | 0.00% | ||
Other derivatives, Option pricing model valuation, Commodity correlation | [6] | 0.00% | 10.00% | ||
Financial Instruments classified in Level 3, Valuation Techniques, Significant unobservable input, Range Top [Member] | |||||
Mortgage and other asset backed securities held for trading: | |||||
Commercial mortgage-backed securities, Price based valuation, Price | [6] | 120.00% | 102.00% | ||
Commercial mortgage-backed securities, Discounted cash flow valuation, Credit spread (bps) | [6] | 1,444 | 2,217 | ||
Mortgage and other asset-backed securities, Price based valuation, Price | [6] | 102.00% | 102.00% | ||
Mortgage and other asset-backed securities, Discounted cash flow valuation, Credit spread (bps) | [6] | 2,203 | 2,000 | ||
Mortgage and other asset-backed securities, Discounted cash flow valuation, Recovery rate | [6] | 90.00% | 90.00% | ||
Mortgage and other asset-backed securities, Discounted cash flow valuation, Constant default rate | [6] | 16.00% | 25.00% | ||
Mortgage and other asset-backed securities, Discounted cash flow valuation, Constant prepayment rate | [6] | 42.00% | 29.00% | ||
Debt securites and other debt obligations, Price based valuation, Price | [6] | 148.00% | 176.00% | ||
Debt securuties and other debt obligations, Discounted cash flow valuation, Credit spread (bps) | 582.45 | 499.6 | |||
Equity securities, Market approach valuation, Price per net asset value | [6] | 100.00% | 100.00% | ||
Equity securities, Market approach valuation, Enterprise value / EBITDA (multiple) | 17 | 14.1 | |||
Equity securities, available-for-sale, Discounted cash flow valuation, Weighted average cost capital | 20.00% | 20.00% | |||
Loans, Priced based valuation, Price | [6] | 341.00% | 161.00% | ||
Loans, Discounted cash flow valuation, Credit spread (bps) | 930 | 1,578 | |||
Loans, Discounted cash flow, Constant default rate | € 0 | ||||
Loans, Discounted cash flow valuation, Recovery rate | 40.00% | 40.00% | |||
Loan Commitments, Discounted cash flow valuation, Credit spread (bps) | [6] | 2,864.39 | 261 | ||
Loan Commitments, Discounted cash flow valuation, Recovery rate | [6] | 75.00% | 75.00% | ||
Loan Commitment, Loan Pricing Model Valuation, Utilization | [6] | 100.00% | 100.00% | ||
Other financial instruments, Discounted cash flow valuation, IRR | [6] | 46.00% | 24.00% | ||
Other financial instruments, Discounted cash flow valuation, Repo rate (bps) | [6] | 387 | 254 | ||
Market values from derivative financial instruments: | |||||
Interest rate derivatives, Discounted cash flow valuation, Swap rate (bps) | [6] | 2,316 | 1,036 | ||
Interest rate derivatives, Discounted cash flow valuation, Inflation swap rate | [6] | 6.00% | 11.00% | ||
Interest rate derivatives, Discounted cash flow valuation, Constant default rate | [6] | 35.00% | 16.00% | ||
Interest rate derivatives, Discounted cash flow valuation, Constant prepayment rate | [6] | 43.00% | 38.00% | ||
Interest rate derivatives, Option pricing model valuation, Inflation volatility | [6] | 5.00% | 5.00% | ||
Interest rate derivatives, Option pricing model valuation, Interest rate volatility | [6] | 31.00% | 103.00% | ||
Interest rate derivatives, Option pricing model valuation, IR - IR correlation | [6] | 90.00% | 100.00% | ||
Interest rate derivatives, Option pricing model valuation, Hybrid correlation | [6] | 75.00% | 90.00% | ||
Credit derivatives, Discounted cash flow valuation, Credit spread (bps) | [6] | 1,541.41 | 17,956.66 | ||
Credit derivatives, Discounted cash flow valuation, Recovery rate | [6] | 80.00% | 94.00% | ||
Credit derivatives, Correlation pricing model valuation, Credit correlation | [6] | 85.00% | 90.00% | ||
Equity derivatives, Option pricing model valuation, Stock volatility | [6] | 96.00% | 90.00% | ||
Equity derivatives, Option pricing model valuation, Index volatility | [6] | 79.00% | 53.00% | ||
Equity derivatives, Option pricing model valuation, Index - index-correlation | [6] | 100.00% | |||
Equity derivatives, Option pricing model valuation, Stock - stock correlation | [6] | 89.00% | 93.00% | ||
Equity derivatives, Option pricing model valuation, Stock forwards | [6] | 63.00% | 7.00% | ||
Equity derivatives, Option pricing model valuation, Index forwards | [6] | 5.00% | 95.00% | ||
FX derivatives, Option pricing model valuation, Volatilty | [6] | 34.00% | 31.00% | ||
Other derivatives, Option pricing model valuation, Index volatilty | [6] | 92.00% | 79.00% | ||
Other derivatives, Option pricing model valuation, Commodity correlation | [6] | 0.00% | 75.00% | ||
[1] | Other financial assets include EUR26million of other trading assets and EUR3.0billion of other financial assets mandatory at fair value. | ||||
[2] | Other financial assets include EUR34million of other trading assets, EUR956million of other financial assets designated at fair value and EUR674million other financial assets available for sale. | ||||
[3] | Other financial liabilities include EUR185million of securities sold under repurchase agreements designated at fair value and EUR72million of other financial liabilities designated at fair value. | ||||
[4] | Other financial liabilities include EUR131million of securities sold under repurchase agreements designated at fair value. | ||||
[5] | Includes derivatives which are embedded in contracts where the host contract is held at amortized cost but for which the embedded derivative is separated. | ||||
[6] | Valuation technique(s) and subsequently the significant unobservable input(s) relate to the respective total position. |
Quantitative Information abou_2
Quantitative Information about Fair Value (Level 3) (Detail: Text Values) - Valuation technique unobservable parameters (Level 3) - EUR (€) € in Millions | Dec. 31, 2018 | Dec. 31, 2017 |
Assets [Member] | ||
Included in other financial assets [Abstract] | ||
Other trading assets | € 26 | € 34 |
Other financial assets designated at fair value | 0 | 956 |
Other financial assets mandatory at fair value through profit or loss | 3,000 | |
Other financial assets available for sale | 674 | |
Liabilities [Member] | ||
Included in other financial liabilities [Abstract] | ||
Securities sold under repurchase agreements designated at fair value | 185 | € 131 |
Other financial liabilities designated at fair value | € 72 |
Unrealized Gains or Losses on L
Unrealized Gains or Losses on Level 3 Instruments held or in Issue at the Reporting Date (Detail) - Unrealized Gains or Losses [Member] - Valuation technique unobservable parameters (Level 3) - EUR (€) € in Millions | Dec. 31, 2018 | Dec. 31, 2017 |
Financial assets held at fair value [Abstract] | ||
Trading securities, assets | € 46 | € (15) |
Positive market values from derivative financial instruments | 1,152 | 171 |
Other trading assets | 136 | 55 |
Non-trading financial assets mandatory at fair value through profit and loss | 354 | |
Financial assets designated at fair value through profit or loss | 0 | 2 |
Financial assets mandatory at fair value through other comprehensive income | 2 | |
Financial assets available for sale | 123 | |
Other financial assets at fair value | 2 | 33 |
Total financial assets held at fair value | 1,692 | 368 |
Financial liabilities held at fair value: | ||
Trading securities, liabilities | 0 | 3 |
Negative market values from derivative financial instruments | (849) | (740) |
Other trading liabilities | 0 | 0 |
Financial liabilities designated at fair value through profit or loss | 124 | 4 |
Other financial liabilities at fair value | 294 | (249) |
Total financial liabilities held at fair value | (431) | (981) |
Total | € 1,261 | € (613) |
Recognitions of Trade Date Prof
Recognitions of Trade Date Profit (Detail) - EUR (€) € in Millions | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | ||
Recognitions of Trade Date Profit | |||
Balance, beginning of year | € 690 | € 916 | |
Balance, Recognitions of Trade Date Profit IFRS 9 | [1] | 596 | |
New trades during the period | 226 | 277 | |
Amortization | (126) | (282) | |
Matured trades | (126) | (140) | |
Subsequent move to observability | (42) | (71) | |
Exchange rate changes | 2 | (11) | |
Balance, end of year | € 531 | € 690 | |
[1] | Opening balances have been restated due to reassessment of trades due to IFRS 9. |
Estimated Fair Value of the Fin
Estimated Fair Value of the Financial Instruments not carried at Fair Value (Detail) - EUR (€) € in Millions | Dec. 31, 2018 | Dec. 31, 2017 | ||
Carrying value [Member] | ||||
Financial assets: | ||||
Cash and central bank balances | [1] | € 188,731 | € 225,655 | |
Interbank balances (w/o central banks) | [1] | 8,881 | 9,265 | |
Central bank funds sold and securities purchased under resale agreements | [1] | 8,222 | 9,971 | |
Securities borrowed | [1] | 3,396 | 16,732 | |
Loans | [1] | 400,297 | 401,699 | |
Securities held to maturity | [1] | 0 | 3,170 | |
Other financial assets | [1] | 80,089 | 88,936 | |
Financial liabilities: | ||||
Deposits | [1] | 564,405 | 580,812 | |
Central bank funds purchased and securities sold under repurchase agreements | [1] | 4,867 | 18,105 | |
Securities loaned | [1] | 3,359 | 6,688 | |
Other short-term borrowings | [1] | 14,158 | 18,411 | |
Other financial liabilities | [1] | 100,683 | 116,101 | [2] |
Long-term debt | [1] | 152,083 | 159,715 | |
Trust preferred securities | [1] | 3,168 | 5,491 | |
Fair value [Member] | ||||
Financial assets: | ||||
Cash and central bank balances | [1] | 188,731 | 225,655 | |
Interbank balances (w/o central banks) | [1] | 8,881 | 9,265 | |
Central bank funds sold and securities purchased under resale agreements | [1] | 8,223 | 9,973 | |
Securities borrowed | [1] | 3,396 | 16,732 | |
Loans | [1] | 395,900 | 403,842 | |
Securities held to maturity | [1] | 0 | 3,238 | |
Other financial assets | [1] | 80,193 | 88,939 | |
Financial liabilities: | ||||
Deposits | [1] | 564,637 | 580,945 | |
Central bank funds purchased and securities sold under repurchase agreements | [1] | 4,867 | 18,103 | |
Securities loaned | [1] | 3,359 | 6,688 | |
Other short-term borrowings | [1] | 14,159 | 18,412 | |
Other financial liabilities | [1] | 100,683 | 116,101 | [2] |
Long-term debt | [1] | 149,128 | 161,829 | |
Trust preferred securities | [1] | 3,114 | 5,920 | |
Quoted prices in active market (Level 1) | ||||
Financial assets: | ||||
Cash and central bank balances | [1] | 188,731 | 225,655 | |
Interbank balances (w/o central banks) | [1] | 78 | 76 | |
Central bank funds sold and securities purchased under resale agreements | [1] | 0 | 0 | |
Securities borrowed | [1] | 0 | 0 | |
Loans | [1] | 0 | 0 | |
Securities held to maturity | [1] | 0 | 3,238 | |
Other financial assets | [1] | 850 | 0 | |
Financial liabilities: | ||||
Deposits | [1] | 516 | 2,108 | |
Central bank funds purchased and securities sold under repurchase agreements | [1] | 0 | 0 | |
Securities loaned | [1] | 0 | 0 | |
Other short-term borrowings | [1] | 0 | 0 | |
Other financial liabilities | [1] | 1,816 | 1,875 | |
Long-term debt | [1] | 0 | 0 | |
Trust preferred securities | [1] | 0 | 0 | |
Valuation technique observable parameters (Level 2) | ||||
Financial assets: | ||||
Cash and central bank balances | [1] | 0 | 0 | |
Interbank balances (w/o central banks) | [1] | 8,804 | 9,189 | |
Central bank funds sold and securities purchased under resale agreements | [1] | 8,223 | 9,973 | |
Securities borrowed | [1] | 3,396 | 16,732 | |
Loans | [1] | 10,870 | 24,643 | |
Securities held to maturity | [1] | 0 | 0 | |
Other financial assets | [1] | 79,343 | 88,939 | |
Financial liabilities: | ||||
Deposits | [1] | 563,850 | 578,837 | |
Central bank funds purchased and securities sold under repurchase agreements | [1] | 4,867 | 18,103 | |
Securities loaned | [1] | 3,359 | 6,688 | |
Other short-term borrowings | [1] | 14,159 | 18,412 | |
Other financial liabilities | [1] | 98,866 | 114,226 | [2] |
Long-term debt | [1] | 140,961 | 152,838 | |
Trust preferred securities | [1] | 3,114 | 5,920 | |
Valuation technique unobservable parameters (Level 3) | ||||
Financial assets: | ||||
Cash and central bank balances | [1] | 0 | 0 | |
Interbank balances (w/o central banks) | [1] | 0 | 0 | |
Central bank funds sold and securities purchased under resale agreements | [1] | 0 | 0 | |
Securities borrowed | [1] | 0 | 0 | |
Loans | [1] | 385,029 | 379,199 | |
Securities held to maturity | [1] | 0 | 0 | |
Other financial assets | [1] | 1 | 0 | |
Financial liabilities: | ||||
Deposits | [1] | 272 | 0 | |
Central bank funds purchased and securities sold under repurchase agreements | [1] | 0 | 0 | |
Securities loaned | [1] | 0 | 0 | |
Other short-term borrowings | [1] | 0 | 0 | |
Other financial liabilities | [1] | 1 | 0 | |
Long-term debt | [1] | 8,167 | 8,991 | |
Trust preferred securities | [1] | € 0 | € 0 | |
[1] | Amounts generally presented on a gross basis, in line with the Groups accounting policy regarding offsetting of financial instruments as described in Note 1 Significant Accounting Policies and Critical Accounting Estimates. | |||
[2] | Restatement undertaken represents pure reclass from Note 14 Fair Value of Financial Instruments not carried at Fair Value to Note 13 Financial Instruments carried at Fair Value. |
Financial Assets Available fo_3
Financial Assets Available for Sale (Detail) - EUR (€) € in Millions | Dec. 31, 2018 | Dec. 31, 2017 |
Debt securities [Abstract]: | ||
German government | € 8,131 | |
U.S. Treasury and U.S. government agencies | 8,092 | |
U.S. local (municipal) governments | 2,436 | |
Other foreign governments | 19,275 | |
Corporates | 6,775 | |
Other asset-backed securities | 1 | |
Mortgage-backed securities, including obligations of U.S. federal agencies | 11 | |
Other debt securities | 359 | |
Total debt securities | 45,081 | |
Equity securities: | ||
Equity shares | 897 | |
Investment certificates and mutual funds | 97 | |
Total equity securities | 994 | |
Other equity interests | 636 | |
Loans | 2,685 | |
Total financial assets available for sale | € 49,397 |
Financial Assets at FV through
Financial Assets at FV through OCI (Detail: Text Values) - EUR (€) € in Millions | Dec. 31, 2018 | Dec. 31, 2017 |
Financial assets at fair value through OCI [Abstract] | ||
Fair value of financial assets at Fair value through Other Comprehensive Income (FVOCI) subject to impairment | € 51,000 | € 48,000 |
of which: Allowance for credit losses against these assets | € 12 | € 13 |
Financial assets at fair valu_5
Financial assets at fair value through OCI (Detail) - Financial assets at fair value through OCI [Member] - EUR (€) € in Millions | Dec. 31, 2018 | Dec. 31, 2017 |
Financial assets at fair value through OCI [Line Items] | ||
Securities purchased under resale agreement | € 1,097 | |
Debt securities [Abstract]: | ||
German government | 7,705 | |
U.S. Treasury and U.S. government agencies | 13,118 | |
U.S. local (municipal) governments | 101 | |
Other foreign governments | 18,152 | |
Corporates | 5,606 | |
Other asset-backed securities | 27 | |
Mortgage-backed securities, including obligations of U.S. federal agencies | 103 | |
Other debt securities | 181 | |
Total debt securities | 44,993 | |
Loans | 5,092 | |
Total financial assets mandatory at fair value through other comprehensive income | € 51,182 |
Financial Instruments Held to_3
Financial Instruments Held to Maturity (Detail) - EUR (€) € in Millions | Dec. 31, 2018 | Dec. 31, 2017 |
Carrying value (CV) [Member] | ||
Debt securities reclassified: | ||
G7 Government bonds | € 423 | |
Other Government, supranational and agency bonds | 2,747 | |
Total financial assets reclassified to Held-to-Maturity | 3,170 | |
Fair value (FV) [Member] | ||
Debt securities reclassified: | ||
G7 Government bonds | 434 | |
Other Government, supranational and agency bonds | 2,804 | |
Total financial assets reclassified to Held-to-Maturity | € 3,238 |
Significant Investments (Detail
Significant Investments (Detail) | 12 Months Ended | ||||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |||
Huarong Rongde Asset Management Company Ltd [Member] | |||||
Significant Investments [Line Items] | |||||
Principal place of business | Beijing, China | ||||
Nature of relationship | Strategic Investion | ||||
Ownership percentage | 40.70% | 40.70% | [1] | 40.70% | |
Harvest Fund Management Co., LTD [Member] | |||||
Significant Investments [Line Items] | |||||
Principal place of business | Sanghai, China | ||||
Nature of relationship | Strategic Investion | ||||
Ownership percentage | 30.00% | [2] | 30.00% | [3] | |
[1] | Due to the difference in reporting timelines for the Group and Huarong Rongde Asset Management Company Limited Equity method accounting was performed for December 2018 based on December 2017 PRC GAAP audited financials and for December 2017 based on December 2016 PRC GAAP audited financials. | ||||
[2] | December 2018 numbers are based on 2018 unaudited financials | ||||
[3] | December 2017 numbers are based on 2017 audited financials |
Summarised financial informatio
Summarised financial information on Huarong Rongde Asset Management Company Ltd (Detail) - Huarong Rongde Asset Management Company Ltd [Member] - EUR (€) € in Millions | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | ||
Summarised financial information on Huarong Rongde Asset Management Company Ltd [Line Items] | |||
Total net revenues | € 197 | [1] | € 193 |
Net income (loss) | 157 | [1] | 146 |
Other comprehensive income | (19) | [1] | (2) |
Total comprehensive income (loss), net of tax | 138 | [1],[2] | 143 |
Total assets | 7,058 | [1] | 5,243 |
Total liabilities | 5,579 | [1] | 4,052 |
Noncontrolling interests | 739 | [1] | 534 |
Net assets of the equity method investee | € 740 | [3] | € 657 |
[1] | Due to the difference in reporting timelines for the Group and Huarong Rongde Asset Management Company Limited Equity method accounting was performed for December 2018 based on December 2017 PRC GAAP audited financials and for December 2017 based on December 2016 PRC GAAP audited financials. | ||
[2] | The Group received dividends from Huarong Rongde Asset Management Company Limited of EUR17million during the reporting period 2018 (2017: EUR23million) | ||
[3] | Due to the difference in reporting timelines for the Group and Huarong Rongde Asset Management Company Limited Equity method accounting was performed for December 2018 based on December 2017 PRC GAAP audited financials and for December 2017 based on December 2016 PRC GAAP audited financials. |
Reconciliation of total net ass
Reconciliation of total net assets of Huarong Rongde Asset Management Company Ltd to the Groups carrying amount (Detail) - Huarong Rongde Asset Management Company Ltd [Member] - EUR (€) € in Millions | Dec. 31, 2018 | Dec. 31, 2017 | [1] | Dec. 31, 2016 |
Reconciliation of total net assets of Huarong Rongde Asset Management Company Ltd to the Groups carrying amount [Line Items] | ||||
Net assets of the equity method investee | € 740 | € 657 | ||
Groups ownership percentage on the investees equity | 40.70% | 40.70% | 40.70% | |
Groups share of net assets | € 301 | € 268 | ||
Goodwill | 0 | 0 | ||
Intangible Assets | 0 | 0 | ||
Other adjustments | (17) | (22) | ||
Carrying amount | € 284 | [2] | € 246 | |
[1] | Due to the difference in reporting timelines for the Group and Huarong Rongde Asset Management Company Limited Equity method accounting was performed for December 2018 based on December 2017 PRC GAAP audited financials and for December 2017 based on December 2016 PRC GAAP audited financials. | |||
[2] | There is no impairment loss in 2018 and 2017 |
Summarised financial informat_2
Summarised financial information on Harvest Fund Management Co., LTD (Detail) - Harvest Fund Management Co., LTD [Member] - EUR (€) € in Millions | 12 Months Ended | ||||
Dec. 31, 2018 | Dec. 31, 2017 | ||||
Summarised financial information on Harvest Fund Management Co., LTD [Line Items] | |||||
Total net revenues | € 597 | [1] | € 537 | [2] | |
Net income (loss) | 162 | [1] | 152 | [2] | |
Other comprehensive income | 1 | [1] | (1) | [2] | |
Total comprehensive income (loss), net of tax | [3] | 163 | [1] | 150 | [2] |
Total assets | 1,123 | [1] | 1,448 | [2] | |
Total liabilities | 398 | 853 | |||
Noncontrolling interests | 45 | [1] | 24 | [2] | |
Net assets of the equity method investee | € 681 | [4] | € 571 | [5] | |
[1] | December 2018 numbers are based on 2018 unaudited financials | ||||
[2] | December 2017 numbers are based on 2017 audited financials | ||||
[3] | The Group received dividends from Harvest Fund Management Co., Ltd. of EUR12million during the reporting period 2018 (2017: EUR7million) | ||||
[4] | December 2018 numbers are based on 2018 unaudited financials | ||||
[5] | December 2017 numbers are based on 2017 audited financials |
Reconciliation of total net a_2
Reconciliation of total net assets of Harvest Fund Management Co., LTD to the Groups carrying amount (Detail) - Harvest Fund Management Co., LTD [Member] - EUR (€) € in Millions | Dec. 31, 2018 | [1] | Dec. 31, 2017 | [2] | |
Reconciliation of total net assets of Harvest Fund Management Co., LTD to the Groups carrying amount [Line Items] | |||||
Net assets of the equity method investee | € 681 | € 571 | |||
Groups ownership percentage on the investees equity | 30.00% | 30.00% | |||
Groups share of net assets | € 204 | € 171 | |||
Goodwill | 17 | 16 | |||
Intangible Assets | 14 | 14 | |||
Other adjustments | 1 | 4 | |||
Carrying amount | [3] | € 236 | € 205 | ||
[1] | December 2018 numbers are based on 2018 unaudited financials | ||||
[2] | December 2017 numbers are based on 2017 audited financials | ||||
[3] | There is no impairment loss in 2018 (EUR1million in 2017) |
Equity Method Investments - Inf
Equity Method Investments - Information on the Groups Share in Associates and Joint Ventures individually immaterial (Detail: Text Values) € in Millions | Dec. 31, 2018EUR (€) | Dec. 31, 2017EUR (€) |
Information on the Groups Share in Associates and Joint Ventures individually immaterial [Abstract] | ||
Number of associates Deutsche Bank Group holds interests | 65 | 77 |
Number of jointly controlled entities Deutsche Bank Group holds interests | € 13 | € 13 |
Investment in Huarong Rongde Asset Management Company Ltd | ||
Dividends received | 17 | 23 |
Impairment | 0 | 0 |
Investment in Harvest Fund Management Co., LTD | ||
Dividends received | 12 | 7 |
Impairment | € 0 | € 1 |
Information on the Groups Share
Information on the Groups Share in Associates and Joint Ventures individually immaterial (Detail) - Information on the Groups Share in Associates and Joint Ventures individually immaterial [Member] - EUR (€) € in Millions | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Information on the Groups Share in Associates and Joint Ventures individually immaterial [Line Items] | ||
Equity method investments | € 359 | € 415 |
Aggregated amount of the Group's share of profit (loss) from continuing operations | 30 | 35 |
Aggregated amount of the Group's share of post-tax profit (loss) from discontinued operations | 0 | 0 |
Aggregated amount of the Group's share of other comprehensive income | (8) | (33) |
Aggregated amount of the Group's share of total comprehensive income | € 22 | € 2 |
Offsetting Assets IAS 39 (Detai
Offsetting Assets IAS 39 (Details) - IAS 39 [Member] € in Millions | Dec. 31, 2017EUR (€) | |
Gross amounts of financial assets [Member] | ||
Offsetting Financial Assets [Line Items] | ||
Central bank funds sold and securities purchased under resale agreements (enforceable) | € 8,136 | |
Central bank funds sold and securities purchased under resale agreements (non-enforceable) | 2,290 | |
Securities borrowed (enforceable) | 14,987 | |
Securities borrowed (non-enforceable) | 1,744 | |
Financial assets at fair value through profit or loss [Abstract] | ||
Trading assets | 185,127 | |
Positive market values from derivative financial instruments (enforceable) | 363,859 | |
Positive market values from derivative financial instruments (non-enforceable) | 15,410 | |
Financial assets designated at fair value through profit or loss (enforceable) | 125,869 | |
Financial assets designated at fair value through profit or loss (non-enforceable) | 29,411 | |
Total financial assets at fair value through profit or loss | 719,676 | |
Loans | 401,699 | |
Other assets | 112,023 | |
Of which: Positive market values from derivatives qualifying for hedge accounting (enforceable) | 3,859 | |
Remaining assets not subject to netting | 307,869 | |
Total assets | 1,568,425 | |
Gross amounts set off on the balance sheet [Member] | ||
Offsetting Financial Assets [Line Items] | ||
Central bank funds sold and securities purchased under resale agreements (enforceable) | (455) | |
Central bank funds sold and securities purchased under resale agreements (non-enforceable) | 0 | |
Securities borrowed (enforceable) | 0 | |
Securities borrowed (non-enforceable) | 0 | |
Financial assets at fair value through profit or loss [Abstract] | ||
Trading assets | (465) | |
Positive market values from derivative financial instruments (enforceable) | (18,237) | |
Positive market values from derivative financial instruments (non-enforceable) | 0 | |
Financial assets designated at fair value through profit or loss (enforceable) | (64,003) | |
Financial assets designated at fair value through profit or loss (non-enforceable) | 0 | |
Total financial assets at fair value through profit or loss | (82,706) | |
Loans | 0 | |
Other assets | (10,531) | |
Of which: Positive market values from derivatives qualifying for hedge accounting (enforceable) | (706) | |
Remaining assets not subject to netting | 0 | |
Total assets | (93,692) | |
Net amounts of financial assets presented on the balance sheet [Member] | ||
Offsetting Financial Assets [Line Items] | ||
Central bank funds sold and securities purchased under resale agreements (enforceable) | 7,681 | |
Central bank funds sold and securities purchased under resale agreements (non-enforceable) | 2,290 | |
Securities borrowed (enforceable) | 14,987 | |
Securities borrowed (non-enforceable) | 1,744 | |
Financial assets at fair value through profit or loss [Abstract] | ||
Trading assets | 184,661 | |
Positive market values from derivative financial instruments (enforceable) | 345,622 | |
Positive market values from derivative financial instruments (non-enforceable) | 15,410 | |
Financial assets designated at fair value through profit or loss (enforceable) | 61,865 | |
Financial assets designated at fair value through profit or loss (non-enforceable) | 29,411 | |
Total financial assets at fair value through profit or loss | 636,970 | |
Loans | 401,699 | |
Other assets | 101,491 | |
Of which: Positive market values from derivatives qualifying for hedge accounting (enforceable) | 3,153 | |
Remaining assets not subject to netting | 307,869 | |
Total assets | 1,474,732 | |
Impact of Master Netting Agreements [Member] | ||
Offsetting Financial Assets [Line Items] | ||
Central bank funds sold and securities purchased under resale agreements (enforceable) | 0 | |
Central bank funds sold and securities purchased under resale agreements (non-enforceable) | 0 | |
Securities borrowed (enforceable) | 0 | |
Securities borrowed (non-enforceable) | 0 | |
Financial assets at fair value through profit or loss [Abstract] | ||
Trading assets | 0 | |
Positive market values from derivative financial instruments (enforceable) | (285,421) | |
Positive market values from derivative financial instruments (non-enforceable) | 0 | |
Financial assets designated at fair value through profit or loss (enforceable) | (728) | |
Financial assets designated at fair value through profit or loss (non-enforceable) | 0 | |
Total financial assets at fair value through profit or loss | (286,149) | |
Loans | 0 | |
Other assets | (29,854) | |
Of which: Positive market values from derivatives qualifying for hedge accounting (enforceable) | (2,461) | |
Remaining assets not subject to netting | 0 | |
Total assets | (316,003) | |
Cash collateral [Member] | ||
Offsetting Financial Assets [Line Items] | ||
Central bank funds sold and securities purchased under resale agreements (enforceable) | 0 | |
Central bank funds sold and securities purchased under resale agreements (non-enforceable) | 0 | |
Securities borrowed (enforceable) | 0 | |
Securities borrowed (non-enforceable) | 0 | |
Financial assets at fair value through profit or loss [Abstract] | ||
Trading assets | (81) | |
Positive market values from derivative financial instruments (enforceable) | (41,842) | |
Positive market values from derivative financial instruments (non-enforceable) | (1,811) | |
Financial assets designated at fair value through profit or loss (enforceable) | (773) | |
Financial assets designated at fair value through profit or loss (non-enforceable) | 0 | |
Total financial assets at fair value through profit or loss | (44,508) | |
Loans | (12,642) | |
Other assets | (569) | |
Of which: Positive market values from derivatives qualifying for hedge accounting (enforceable) | (565) | |
Remaining assets not subject to netting | (390) | |
Total assets | (58,109) | |
Financial instrument collateral [Member] | ||
Offsetting Financial Assets [Line Items] | ||
Central bank funds sold and securities purchased under resale agreements (enforceable) | (7,675) | [1] |
Central bank funds sold and securities purchased under resale agreements (non-enforceable) | (2,239) | [1] |
Securities borrowed (enforceable) | (14,093) | [1] |
Securities borrowed (non-enforceable) | (1,661) | [1] |
Financial assets at fair value through profit or loss [Abstract] | ||
Trading assets | (86) | [1] |
Positive market values from derivative financial instruments (enforceable) | (7,868) | [1] |
Positive market values from derivative financial instruments (non-enforceable) | (1,276) | [1] |
Financial assets designated at fair value through profit or loss (enforceable) | (56,410) | [1] |
Financial assets designated at fair value through profit or loss (non-enforceable) | (20,534) | [1] |
Total financial assets at fair value through profit or loss | (86,174) | [1] |
Loans | (40,775) | [1] |
Other assets | (94) | [1] |
Of which: Positive market values from derivatives qualifying for hedge accounting (enforceable) | (94) | [1] |
Remaining assets not subject to netting | (70) | [1] |
Total assets | (152,782) | [1] |
Net amount [Member] | ||
Offsetting Financial Assets [Line Items] | ||
Central bank funds sold and securities purchased under resale agreements (enforceable) | 7 | |
Central bank funds sold and securities purchased under resale agreements (non-enforceable) | 51 | |
Securities borrowed (enforceable) | 894 | |
Securities borrowed (non-enforceable) | 83 | |
Financial assets at fair value through profit or loss [Abstract] | ||
Trading assets | 184,495 | |
Positive market values from derivative financial instruments (enforceable) | 10,490 | |
Positive market values from derivative financial instruments (non-enforceable) | 12,323 | |
Financial assets designated at fair value through profit or loss (enforceable) | 3,954 | |
Financial assets designated at fair value through profit or loss (non-enforceable) | 8,876 | |
Total financial assets at fair value through profit or loss | 220,138 | |
Loans | 348,282 | |
Other assets | 70,975 | |
Of which: Positive market values from derivatives qualifying for hedge accounting (enforceable) | 33 | |
Remaining assets not subject to netting | 307,409 | |
Total assets | € 947,839 | |
[1] | Excludes real estate and other non-financial instrument collateral. |
Offsetting Assets IFRS 9 (Detai
Offsetting Assets IFRS 9 (Details) - IFRS 9 [Member] € in Millions | Dec. 31, 2018EUR (€) | |
Gross amounts of financial assets [Member] | ||
Offsetting Financial Assets [Line Items] | ||
Central bank funds sold and securities purchased under resale agreements (enforceable) | € 8,194 | |
Central bank funds sold and securities purchased under resale agreements (non-enforceable) | 2,656 | |
Securities borrowed (enforceable) | 3,157 | |
Securities borrowed (non-enforceable) | 239 | |
Financial assets at fair value through profit or loss (enforceable) | 435,306 | |
Of which: Positive market values from derivative financial instruments (enforceable) | 324,348 | |
Financial assets at fair value through profit or loss (non-enforceable) | 211,323 | |
Of which: Positive market values from derivative financial instruments (non-enforceable) | 14,978 | |
Total financial assets at fair value through profit or loss | 646,629 | |
Loans at amortized cost | 400,297 | |
Other assets | 107,633 | |
Of which: Positive market values from derivatives qualifying for hedge accounting (enforceable) | 3,451 | |
Remaining assets subject to netting | 1,097 | |
Remaining assets not subject to netting | 268,338 | |
Total assets | 1,438,241 | |
Gross amounts set off on the balance sheet [Member] | ||
Offsetting Financial Assets [Line Items] | ||
Central bank funds sold and securities purchased under resale agreements (enforceable) | (2,629) | |
Central bank funds sold and securities purchased under resale agreements (non-enforceable) | 0 | |
Securities borrowed (enforceable) | 0 | |
Securities borrowed (non-enforceable) | 0 | |
Financial assets at fair value through profit or loss (enforceable) | (73,286) | |
Of which: Positive market values from derivative financial instruments (enforceable) | (19,269) | |
Financial assets at fair value through profit or loss (non-enforceable) | 0 | |
Of which: Positive market values from derivative financial instruments (non-enforceable) | 0 | |
Total financial assets at fair value through profit or loss | (73,286) | |
Loans at amortized cost | 0 | |
Other assets | (14,189) | |
Of which: Positive market values from derivatives qualifying for hedge accounting (enforceable) | (423) | |
Remaining assets subject to netting | 0 | |
Remaining assets not subject to netting | 0 | |
Total assets | (90,104) | |
Net amounts of financial assets presented on the balance sheet [Member] | ||
Offsetting Financial Assets [Line Items] | ||
Central bank funds sold and securities purchased under resale agreements (enforceable) | 5,565 | |
Central bank funds sold and securities purchased under resale agreements (non-enforceable) | 2,656 | |
Securities borrowed (enforceable) | 3,157 | |
Securities borrowed (non-enforceable) | 239 | |
Financial assets at fair value through profit or loss (enforceable) | 362,020 | |
Of which: Positive market values from derivative financial instruments (enforceable) | 305,080 | |
Financial assets at fair value through profit or loss (non-enforceable) | 211,323 | |
Of which: Positive market values from derivative financial instruments (non-enforceable) | 14,978 | |
Total financial assets at fair value through profit or loss | 573,344 | |
Loans at amortized cost | 400,297 | |
Other assets | 93,444 | |
Of which: Positive market values from derivatives qualifying for hedge accounting (enforceable) | 3,028 | |
Remaining assets subject to netting | 1,097 | |
Remaining assets not subject to netting | 268,338 | |
Total assets | 1,348,137 | |
Impact of Master Netting Agreements [Member] | ||
Offsetting Financial Assets [Line Items] | ||
Central bank funds sold and securities purchased under resale agreements (enforceable) | 0 | |
Central bank funds sold and securities purchased under resale agreements (non-enforceable) | 0 | |
Securities borrowed (enforceable) | 0 | |
Securities borrowed (non-enforceable) | 0 | |
Financial assets at fair value through profit or loss (enforceable) | (250,476) | |
Of which: Positive market values from derivative financial instruments (enforceable) | (250,231) | |
Financial assets at fair value through profit or loss (non-enforceable) | 0 | |
Of which: Positive market values from derivative financial instruments (non-enforceable) | 0 | |
Total financial assets at fair value through profit or loss | (250,476) | |
Loans at amortized cost | 0 | |
Other assets | (29,073) | |
Of which: Positive market values from derivatives qualifying for hedge accounting (enforceable) | (2,347) | |
Remaining assets subject to netting | 0 | |
Remaining assets not subject to netting | 0 | |
Total assets | (279,550) | |
Cash collateral [Member] | ||
Offsetting Financial Assets [Line Items] | ||
Central bank funds sold and securities purchased under resale agreements (enforceable) | 0 | |
Central bank funds sold and securities purchased under resale agreements (non-enforceable) | 0 | |
Securities borrowed (enforceable) | 0 | |
Securities borrowed (non-enforceable) | 0 | |
Financial assets at fair value through profit or loss (enforceable) | (39,006) | |
Of which: Positive market values from derivative financial instruments (enforceable) | (38,731) | |
Financial assets at fair value through profit or loss (non-enforceable) | (1,858) | |
Of which: Positive market values from derivative financial instruments (non-enforceable) | (1,858) | |
Total financial assets at fair value through profit or loss | (40,864) | |
Loans at amortized cost | (13,505) | |
Other assets | (522) | |
Of which: Positive market values from derivatives qualifying for hedge accounting (enforceable) | (520) | |
Remaining assets subject to netting | 0 | |
Remaining assets not subject to netting | (227) | |
Total assets | (55,118) | |
Financial instrument collateral [Member] | ||
Offsetting Financial Assets [Line Items] | ||
Central bank funds sold and securities purchased under resale agreements (enforceable) | (5,565) | [1] |
Central bank funds sold and securities purchased under resale agreements (non-enforceable) | (2,169) | [1] |
Securities borrowed (enforceable) | (3,055) | [1] |
Securities borrowed (non-enforceable) | (239) | [1] |
Financial assets at fair value through profit or loss (enforceable) | (63,733) | [1] |
Of which: Positive market values from derivative financial instruments (enforceable) | (6,682) | [1] |
Financial assets at fair value through profit or loss (non-enforceable) | (12,013) | [1] |
Of which: Positive market values from derivative financial instruments (non-enforceable) | (1,277) | [1] |
Total financial assets at fair value through profit or loss | (75,746) | [1] |
Loans at amortized cost | (39,048) | [1] |
Other assets | (92) | [1] |
Of which: Positive market values from derivatives qualifying for hedge accounting (enforceable) | (92) | [1] |
Remaining assets subject to netting | (621) | [1] |
Remaining assets not subject to netting | (1,540) | [1] |
Total assets | (128,075) | [1] |
Net amount [Member] | ||
Offsetting Financial Assets [Line Items] | ||
Central bank funds sold and securities purchased under resale agreements (enforceable) | 0 | |
Central bank funds sold and securities purchased under resale agreements (non-enforceable) | 488 | |
Securities borrowed (enforceable) | 102 | |
Securities borrowed (non-enforceable) | 0 | |
Financial assets at fair value through profit or loss (enforceable) | 8,805 | |
Of which: Positive market values from derivative financial instruments (enforceable) | 9,436 | |
Financial assets at fair value through profit or loss (non-enforceable) | 197,452 | |
Of which: Positive market values from derivative financial instruments (non-enforceable) | 11,843 | |
Total financial assets at fair value through profit or loss | 206,257 | |
Loans at amortized cost | 347,743 | |
Other assets | 63,757 | |
Of which: Positive market values from derivatives qualifying for hedge accounting (enforceable) | 69 | |
Remaining assets subject to netting | 475 | |
Remaining assets not subject to netting | 266,571 | |
Total assets | € 885,394 | |
[1] | Excludes real estate and other non-financial instrument collateral. |
Offsetting Liabilities IAS 39 (
Offsetting Liabilities IAS 39 (Detail) - IAS 39 [Member] | Dec. 31, 2017EUR (€) |
Gross amounts of financial liabilities [Member] | |
Offsetting Financial Liabilities [Line Items] | |
Deposits | € 581,873 |
Central bank funds purchased and securities sold under repurchase agreements (enforceable) | 13,318 |
Central bank funds purchased and securities sold under repurchase agreements (non-enforceable) | 5,242 |
Securities loaned (enforceable) | 6,688 |
Securities loaned (non-enforceable) | 0 |
Financial liabilities at fair value through profit or loss [Abstract] | |
Trading liabilities | 72,106 |
Negative market values from derivative financial instruments (enforceable) | 347,496 |
Negative market values from derivative financial instruments (non-enforceable) | 13,158 |
Financial liabilities designated at fair value through profit or loss (enforceable) | 104,594 |
Financial liabilities designated at fair value through profit or loss (non-enforceable) | 23,214 |
Total financial liabilities at fair value through profit or loss | 560,568 |
Other liabilities | 143,514 |
Of which: Negative market values from derivatives qualifying for hedge accounting (enforceable) | 1,841 |
Remaining liabilities not subject to netting | 189,122 |
Total liabilities | 1,500,326 |
Gross amounts set off on the balance sheet [Member] | |
Offsetting Financial Liabilities [Line Items] | |
Deposits | 0 |
Central bank funds purchased and securities sold under repurchase agreements (enforceable) | (455) |
Central bank funds purchased and securities sold under repurchase agreements (non-enforceable) | 0 |
Securities loaned (enforceable) | 0 |
Securities loaned (non-enforceable) | 0 |
Financial liabilities at fair value through profit or loss [Abstract] | |
Trading liabilities | (643) |
Negative market values from derivative financial instruments (enforceable) | (17,928) |
Negative market values from derivative financial instruments (non-enforceable) | 0 |
Financial liabilities designated at fair value through profit or loss (enforceable) | (63,360) |
Financial liabilities designated at fair value through profit or loss (non-enforceable) | 0 |
Total financial liabilities at fair value through profit or loss | (81,932) |
Other liabilities | (11,306) |
Of which: Negative market values from derivatives qualifying for hedge accounting (enforceable) | (547) |
Remaining liabilities not subject to netting | 0 |
Total liabilities | (93,692) |
Net amounts of financial liabilities presented on the balance sheet [Member] | |
Offsetting Financial Liabilities [Line Items] | |
Deposits | 581,873 |
Central bank funds purchased and securities sold under repurchase agreements (enforceable) | 12,863 |
Central bank funds purchased and securities sold under repurchase agreements (non-enforceable) | 5,242 |
Securities loaned (enforceable) | 6,688 |
Securities loaned (non-enforceable) | 0 |
Financial liabilities at fair value through profit or loss [Abstract] | |
Trading liabilities | 71,462 |
Negative market values from derivative financial instruments (enforceable) | 329,568 |
Negative market values from derivative financial instruments (non-enforceable) | 13,158 |
Financial liabilities designated at fair value through profit or loss (enforceable) | 41,234 |
Financial liabilities designated at fair value through profit or loss (non-enforceable) | 23,214 |
Total financial liabilities at fair value through profit or loss | 478,636 |
Other liabilities | 132,208 |
Of which: Negative market values from derivatives qualifying for hedge accounting (enforceable) | 1,294 |
Remaining liabilities not subject to netting | 189,122 |
Total liabilities | 1,406,633 |
Impact of Master Netting Agreements [Member] | |
Offsetting Financial Liabilities [Line Items] | |
Deposits | 0 |
Central bank funds purchased and securities sold under repurchase agreements (enforceable) | 0 |
Central bank funds purchased and securities sold under repurchase agreements (non-enforceable) | 0 |
Securities loaned (enforceable) | 0 |
Securities loaned (non-enforceable) | 0 |
Financial liabilities at fair value through profit or loss [Abstract] | |
Trading liabilities | 0 |
Negative market values from derivative financial instruments (enforceable) | (286,720) |
Negative market values from derivative financial instruments (non-enforceable) | 0 |
Financial liabilities designated at fair value through profit or loss (enforceable) | (728) |
Financial liabilities designated at fair value through profit or loss (non-enforceable) | 0 |
Total financial liabilities at fair value through profit or loss | (287,448) |
Other liabilities | (44,815) |
Of which: Negative market values from derivatives qualifying for hedge accounting (enforceable) | (1,162) |
Remaining liabilities not subject to netting | 0 |
Total liabilities | (332,263) |
Cash collateral [Member] | |
Offsetting Financial Liabilities [Line Items] | |
Deposits | 0 |
Central bank funds purchased and securities sold under repurchase agreements (enforceable) | 0 |
Central bank funds purchased and securities sold under repurchase agreements (non-enforceable) | 0 |
Securities loaned (enforceable) | 0 |
Securities loaned (non-enforceable) | 0 |
Financial liabilities at fair value through profit or loss [Abstract] | |
Trading liabilities | 0 |
Negative market values from derivative financial instruments (enforceable) | (25,480) |
Negative market values from derivative financial instruments (non-enforceable) | (1,913) |
Financial liabilities designated at fair value through profit or loss (enforceable) | 0 |
Financial liabilities designated at fair value through profit or loss (non-enforceable) | 1,111 |
Total financial liabilities at fair value through profit or loss | (26,282) |
Other liabilities | (31) |
Of which: Negative market values from derivatives qualifying for hedge accounting (enforceable) | (31) |
Remaining liabilities not subject to netting | 0 |
Total liabilities | (26,314) |
Financial instrument collateral [Member] | |
Offsetting Financial Liabilities [Line Items] | |
Deposits | 0 |
Central bank funds purchased and securities sold under repurchase agreements (enforceable) | (12,863) |
Central bank funds purchased and securities sold under repurchase agreements (non-enforceable) | (4,985) |
Securities loaned (enforceable) | (6,688) |
Securities loaned (non-enforceable) | 0 |
Financial liabilities at fair value through profit or loss [Abstract] | |
Trading liabilities | 0 |
Negative market values from derivative financial instruments (enforceable) | (6,124) |
Negative market values from derivative financial instruments (non-enforceable) | (615) |
Financial liabilities designated at fair value through profit or loss (enforceable) | (40,506) |
Financial liabilities designated at fair value through profit or loss (non-enforceable) | (13,646) |
Total financial liabilities at fair value through profit or loss | (60,891) |
Other liabilities | (87) |
Of which: Negative market values from derivatives qualifying for hedge accounting (enforceable) | (87) |
Remaining liabilities not subject to netting | 0 |
Total liabilities | (85,514) |
Net amount [Member] | |
Offsetting Financial Liabilities [Line Items] | |
Deposits | 581,873 |
Central bank funds purchased and securities sold under repurchase agreements (enforceable) | 0 |
Central bank funds purchased and securities sold under repurchase agreements (non-enforceable) | 257 |
Securities loaned (enforceable) | 0 |
Securities loaned (non-enforceable) | 0 |
Financial liabilities at fair value through profit or loss [Abstract] | |
Trading liabilities | 71,462 |
Negative market values from derivative financial instruments (enforceable) | 11,244 |
Negative market values from derivative financial instruments (non-enforceable) | 10,630 |
Financial liabilities designated at fair value through profit or loss (enforceable) | 0 |
Financial liabilities designated at fair value through profit or loss (non-enforceable) | 10,679 |
Total financial liabilities at fair value through profit or loss | 104,015 |
Other liabilities | 87,275 |
Of which: Negative market values from derivatives qualifying for hedge accounting (enforceable) | 15 |
Remaining liabilities not subject to netting | 189,122 |
Total liabilities | € 962,542 |
Offsetting Liabilities IFRS 9 (
Offsetting Liabilities IFRS 9 (Details) - IFRS 9 [Member] | Dec. 31, 2018EUR (€) |
Gross amounts of financial liabilities [Member] | |
Offsetting Financial Liabilities [Line Items] | |
Deposits | € 564,405 |
Central bank funds purchased and securities sold under repurchase agreements (enforceable) | 7,145 |
Central bank funds purchased and securities sold under repurchase agreements (non-enforceable) | 1,399 |
Securities loaned (enforceable) | 3,164 |
Securities loaned (non-enforceable) | 195 |
Financial liabilities at fair value through profit or loss (enforceable) | 399,625 |
Of which: Negative market values from derivative financial instruments (enforceable) | 309,401 |
Financial liabilities at fair value through profit or loss (non-enforceable) | 87,524 |
Of which: Negative market values from derivative financial instruments (non-enforceable) | 11,064 |
Total financial liabilities at fair value through profit or loss | 487,149 |
Other liabilities | 132,470 |
Of which: Negative market values from derivatives qualifying for hedge accounting (enforceable) | 2,537 |
Remaining liabilities not subject to netting | 173,577 |
Total liabilities | 1,369,503 |
Gross amounts set off on the balance sheet [Member] | |
Offsetting Financial Liabilities [Line Items] | |
Deposits | 0 |
Central bank funds purchased and securities sold under repurchase agreements (enforceable) | (3,677) |
Central bank funds purchased and securities sold under repurchase agreements (non-enforceable) | 0 |
Securities loaned (enforceable) | 0 |
Securities loaned (non-enforceable) | 0 |
Financial liabilities at fair value through profit or loss (enforceable) | (71,469) |
Of which: Negative market values from derivative financial instruments (enforceable) | (18,978) |
Financial liabilities at fair value through profit or loss (non-enforceable) | 0 |
Of which: Negative market values from derivative financial instruments (non-enforceable) | 0 |
Total financial liabilities at fair value through profit or loss | (71,469) |
Other liabilities | (14,957) |
Of which: Negative market values from derivatives qualifying for hedge accounting (enforceable) | (615) |
Remaining liabilities not subject to netting | 0 |
Total liabilities | (90,104) |
Net amounts of financial liabilities presented on the balance sheet [Member] | |
Offsetting Financial Liabilities [Line Items] | |
Deposits | 564,405 |
Central bank funds purchased and securities sold under repurchase agreements (enforceable) | 3,468 |
Central bank funds purchased and securities sold under repurchase agreements (non-enforceable) | 1,399 |
Securities loaned (enforceable) | 3,164 |
Securities loaned (non-enforceable) | 195 |
Financial liabilities at fair value through profit or loss (enforceable) | 328,156 |
Of which: Negative market values from derivative financial instruments (enforceable) | 290,423 |
Financial liabilities at fair value through profit or loss (non-enforceable) | 87,524 |
Of which: Negative market values from derivative financial instruments (non-enforceable) | 11,064 |
Total financial liabilities at fair value through profit or loss | 415,680 |
Other liabilities | 117,513 |
Of which: Negative market values from derivatives qualifying for hedge accounting (enforceable) | 1,922 |
Remaining liabilities not subject to netting | 173,577 |
Total liabilities | 1,279,400 |
Impact of Master Netting Agreements [Member] | |
Offsetting Financial Liabilities [Line Items] | |
Deposits | 0 |
Central bank funds purchased and securities sold under repurchase agreements (enforceable) | 0 |
Central bank funds purchased and securities sold under repurchase agreements (non-enforceable) | 0 |
Securities loaned (enforceable) | 0 |
Securities loaned (non-enforceable) | 0 |
Financial liabilities at fair value through profit or loss (enforceable) | (251,495) |
Of which: Negative market values from derivative financial instruments (enforceable) | (250,908) |
Financial liabilities at fair value through profit or loss (non-enforceable) | 0 |
Of which: Negative market values from derivative financial instruments (non-enforceable) | 0 |
Total financial liabilities at fair value through profit or loss | (251,495) |
Other liabilities | (42,260) |
Of which: Negative market values from derivatives qualifying for hedge accounting (enforceable) | (1,670) |
Remaining liabilities not subject to netting | 0 |
Total liabilities | (293,755) |
Cash collateral [Member] | |
Offsetting Financial Liabilities [Line Items] | |
Deposits | 0 |
Central bank funds purchased and securities sold under repurchase agreements (enforceable) | 0 |
Central bank funds purchased and securities sold under repurchase agreements (non-enforceable) | 0 |
Securities loaned (enforceable) | 0 |
Securities loaned (non-enforceable) | 0 |
Financial liabilities at fair value through profit or loss (enforceable) | (25,232) |
Of which: Negative market values from derivative financial instruments (enforceable) | (25,232) |
Financial liabilities at fair value through profit or loss (non-enforceable) | (2,301) |
Of which: Negative market values from derivative financial instruments (non-enforceable) | (1,494) |
Total financial liabilities at fair value through profit or loss | (27,533) |
Other liabilities | (73) |
Of which: Negative market values from derivatives qualifying for hedge accounting (enforceable) | (71) |
Remaining liabilities not subject to netting | 0 |
Total liabilities | (27,606) |
Financial instrument collateral [Member] | |
Offsetting Financial Liabilities [Line Items] | |
Deposits | 0 |
Central bank funds purchased and securities sold under repurchase agreements (enforceable) | (3,468) |
Central bank funds purchased and securities sold under repurchase agreements (non-enforceable) | (1,140) |
Securities loaned (enforceable) | (3,164) |
Securities loaned (non-enforceable) | (164) |
Financial liabilities at fair value through profit or loss (enforceable) | (40,935) |
Of which: Negative market values from derivative financial instruments (enforceable) | (4,805) |
Financial liabilities at fair value through profit or loss (non-enforceable) | (11,268) |
Of which: Negative market values from derivative financial instruments (non-enforceable) | (573) |
Total financial liabilities at fair value through profit or loss | (52,204) |
Other liabilities | (158) |
Of which: Negative market values from derivatives qualifying for hedge accounting (enforceable) | (158) |
Remaining liabilities not subject to netting | 0 |
Total liabilities | (60,297) |
Net amount [Member] | |
Offsetting Financial Liabilities [Line Items] | |
Deposits | 564,405 |
Central bank funds purchased and securities sold under repurchase agreements (enforceable) | 0 |
Central bank funds purchased and securities sold under repurchase agreements (non-enforceable) | 259 |
Securities loaned (enforceable) | 0 |
Securities loaned (non-enforceable) | 31 |
Financial liabilities at fair value through profit or loss (enforceable) | 10,493 |
Of which: Negative market values from derivative financial instruments (enforceable) | 9,478 |
Financial liabilities at fair value through profit or loss (non-enforceable) | 73,955 |
Of which: Negative market values from derivative financial instruments (non-enforceable) | 8,996 |
Total financial liabilities at fair value through profit or loss | 84,448 |
Other liabilities | 75,022 |
Of which: Negative market values from derivatives qualifying for hedge accounting (enforceable) | 23 |
Remaining liabilities not subject to netting | 173,577 |
Total liabilities | € 897,742 |
Components of Loans by Industry
Components of Loans by Industry Classification IAS39 (Detail) - IAS 39 [Member] € in Millions | Dec. 31, 2017EUR (€) |
Components of Loans by Industry Classification [Line Items] | |
Financial intermediation | € 52,204 |
Manufacturing | 27,478 |
thereof [Abstract] | |
Basic metals and fabricated metal products | 4,211 |
Electrical and optical equipment | 3,386 |
Transport equipment | 3,374 |
Chemicals and chemical products | 3,623 |
Machinery and equipment | 3,191 |
Food products | 2,907 |
Households, excluding mortgages | 36,524 |
Households - mortgages | 150,205 |
Public sector | 13,711 |
Wholesale and retail trade | 19,252 |
Commercial real estate activities | 29,247 |
Lease financing | 384 |
Fund management activities | 18,708 |
Other | 58,167 |
thereof: | |
Renting of machinery and other business activities | 26,559 |
Transport, storage and communication | 9,243 |
Mining and quarrying of energy-producing materials | 2,553 |
Electricity, gas and water supply | 3,552 |
Gross loans | 405,879 |
(Deferred expense)/unearned income | 259 |
Loans less (deferred expense)/unearned income | 405,621 |
Less: Allowance for loan losses | 3,921 |
Total loans | € 401,699 |
Components of Loans by Indust_2
Components of Loans by Industry Classification IFRS 9 (Detail) - IFRS 9 [Member] € in Millions | Dec. 31, 2018EUR (€) |
Components of Loans by Industry Classification [Line Items] | |
Agriculture, forestry and fishing | € 655 |
Mining and quarrying | 3,699 |
Manufacturing | 30,966 |
Electricity, gas, steam and air conditioning supply | 3,555 |
Water supply, sewerage, waste management and remediation activities | 895 |
Construction | 4,421 |
Wholesale and retail trade, repair of motor vehicles and motorcycles | 21,871 |
Transport and storage | 6,548 |
Accommodation and food service activities | 2,094 |
Information and communication | 5,281 |
Financial and insurance activities | 93,886 |
Real estate activities | 35,153 |
Professional, scientific and technical activities | 7,020 |
Administrative and support service activities | 7,921 |
Public administration and defense, compulsory social security | 10,752 |
Education | 698 |
Human health services and social work activities | 3,618 |
Arts, entertainment and recreation | 951 |
Other service activities | 5,328 |
Activities of households as employers, undifferentiated goods- and services-producing activities of households for own use | 188,494 |
Activities of extraterritorial organizations and bodies | 25 |
Gross loans | 433,832 |
(Deferred expense)/unearned income | 254 |
Loans less (deferred expense)/unearned income | 433,578 |
Less: Allowance for loan losses | 4,247 |
Total loans | € 429,331 |
Allowance for Credit Losses (De
Allowance for Credit Losses (Detail: Text Values) € in Millions | 12 Months Ended |
Dec. 31, 2018EUR (€) | |
Allowance for Credit Losses on/off Balance Sheet Positions [Abstract] | |
Allowance for country risk not included in Allowance for credit losses for Financial Assets at Amortized Cost | € 6 |
Allowance for country risk not included in Allowance for credit losses for Off-balance Sheet Positions | 5 |
Allowance for credit losses for financial assets at fair value through OCI [Abstract] | |
beginning of year | 12 |
end of year | € 13 |
Development of allowance for cr
Development of allowance for credit losses in the reporting period, Allowance for Credit Losses (Detail) - Allowance for Credit Losses € in Millions | 12 Months Ended | |
Dec. 31, 2018EUR (€) | ||
Total Stages [Member] | ||
Development of exposures and allowance for credit losses in the reporting period [Line Items] | ||
Balance, beginning of year | € 4,596 | [1] |
Movements in financial assets including new business | 507 | [1] |
Transfers due to changes in creditworthiness | 0 | [1] |
Changes due to modifications that did not result in derecognition | ||
Changes in models | 0 | [1] |
Financial assets that have been derecognized during the period | (995) | [1],[2] |
Recovery of written off amounts | 172 | [1] |
Foreign exchange and other changes | (21) | [1] |
Balance, end of reporting period | 4,259 | [1] |
Provision for Credit Losses excluding country risk | 507 | [1],[3] |
Stage 1 [Member] | ||
Development of exposures and allowance for credit losses in the reporting period [Line Items] | ||
Balance, beginning of year | 462 | [1] |
Movements in financial assets including new business | (132) | [1] |
Transfers due to changes in creditworthiness | 199 | [1] |
Changes due to modifications that did not result in derecognition | ||
Changes in models | 0 | [1] |
Financial assets that have been derecognized during the period | (6) | [1],[2] |
Recovery of written off amounts | 0 | [1] |
Foreign exchange and other changes | (14) | [1] |
Balance, end of reporting period | 509 | [1] |
Provision for Credit Losses excluding country risk | 66 | [1],[3] |
Stage 2 [Member] | ||
Development of exposures and allowance for credit losses in the reporting period [Line Items] | ||
Balance, beginning of year | 494 | [1] |
Movements in financial assets including new business | 215 | [1] |
Transfers due to changes in creditworthiness | (137) | [1] |
Changes due to modifications that did not result in derecognition | ||
Changes in models | 0 | [1] |
Financial assets that have been derecognized during the period | (17) | [1],[2] |
Recovery of written off amounts | 0 | [1] |
Foreign exchange and other changes | (54) | [1] |
Balance, end of reporting period | 501 | [1] |
Provision for Credit Losses excluding country risk | 78 | [1],[3] |
Stage 3 [Member] | ||
Development of exposures and allowance for credit losses in the reporting period [Line Items] | ||
Balance, beginning of year | 3,638 | [1] |
Movements in financial assets including new business | 440 | [1] |
Transfers due to changes in creditworthiness | (62) | [1] |
Changes due to modifications that did not result in derecognition | ||
Changes in models | 0 | [1] |
Financial assets that have been derecognized during the period | (972) | [1],[2] |
Recovery of written off amounts | 172 | [1] |
Foreign exchange and other changes | 30 | [1] |
Balance, end of reporting period | 3,247 | [1] |
Provision for Credit Losses excluding country risk | 379 | [1],[3] |
Stage 3 POCI [Member] | ||
Development of exposures and allowance for credit losses in the reporting period [Line Items] | ||
Balance, beginning of year | 3 | [1] |
Movements in financial assets including new business | (17) | [1] |
Transfers due to changes in creditworthiness | ||
Changes due to modifications that did not result in derecognition | ||
Changes in models | 0 | [1] |
Financial assets that have been derecognized during the period | 0 | [1],[2] |
Recovery of written off amounts | 0 | [1] |
Foreign exchange and other changes | 17 | [1] |
Balance, end of reporting period | 3 | [1] |
Provision for Credit Losses excluding country risk | € (17) | [1],[3] |
[1] | Allowance for credit losses does not include allowance for country risk amounting to EUR 6 million as of Dec. 31, 2018. | |
[2] | This position includes charge offs of allowance for credit losses. | |
[3] | Movements in financial assets including new business, transfers due to changes in creditworthiness and changes in models add up to Provision for Credit Losses excluding country risk. |
Intro AQ Section (Detail)
Intro AQ Section (Detail) - EUR (€) € in Millions | Dec. 31, 2018 | Dec. 31, 2017 | |
Total Stages [Member] | Amortized Cost [Member] | |||
Intro AQ Section //Mapping auf RFT [Line Items] | |||
Gross Carrying Amount | [1] | € 678,787 | |
Allowance for Credit Losses | [1],[2] | 4,259 | |
Total Stages [Member] | Fair Value through OCI [Member] | |||
Intro AQ Section //Mapping auf RFT [Line Items] | |||
Allowance for Credit Losses | 13 | ||
Fair value | 51,182 | ||
Notional Amount | € 0 | ||
Total Stages [Member] | Off-balance sheet [Member] | |||
Intro AQ Section //Mapping auf RFT [Line Items] | |||
Allowance for Credit Losses | [3] | 289 | |
Notional Amount | 262,659 | ||
Stage 1 [Member] | Amortized Cost [Member] | |||
Intro AQ Section //Mapping auf RFT [Line Items] | |||
Gross Carrying Amount | [1] | 637,037 | |
Allowance for Credit Losses | [1],[2] | 509 | |
Stage 1 [Member] | Fair Value through OCI [Member] | |||
Intro AQ Section //Mapping auf RFT [Line Items] | |||
Allowance for Credit Losses | 11 | ||
Fair value | 50,932 | ||
Notional Amount | 0 | ||
Stage 1 [Member] | Off-balance sheet [Member] | |||
Intro AQ Section //Mapping auf RFT [Line Items] | |||
Allowance for Credit Losses | [3] | 132 | |
Notional Amount | 252,039 | ||
Stage 2 [Member] | Amortized Cost [Member] | |||
Intro AQ Section //Mapping auf RFT [Line Items] | |||
Gross Carrying Amount | [1] | 32,335 | |
Allowance for Credit Losses | [1],[2] | 501 | |
Stage 2 [Member] | Fair Value through OCI [Member] | |||
Intro AQ Section //Mapping auf RFT [Line Items] | |||
Allowance for Credit Losses | 1 | ||
Fair value | 247 | ||
Notional Amount | 0 | ||
Stage 2 [Member] | Off-balance sheet [Member] | |||
Intro AQ Section //Mapping auf RFT [Line Items] | |||
Allowance for Credit Losses | [3] | 73 | |
Notional Amount | 10,021 | ||
Stage 3 [Member] | Amortized Cost [Member] | |||
Intro AQ Section //Mapping auf RFT [Line Items] | |||
Gross Carrying Amount | [1] | 7,452 | |
Allowance for Credit Losses | [1],[2] | 3,247 | |
Stage 3 [Member] | Fair Value through OCI [Member] | |||
Intro AQ Section //Mapping auf RFT [Line Items] | |||
Allowance for Credit Losses | 0 | ||
Fair value | 2 | ||
Notional Amount | 0 | ||
Stage 3 [Member] | Off-balance sheet [Member] | |||
Intro AQ Section //Mapping auf RFT [Line Items] | |||
Allowance for Credit Losses | [3] | 84 | |
Notional Amount | 599 | ||
Stage 3 POCI [Member] | Amortized Cost [Member] | |||
Intro AQ Section //Mapping auf RFT [Line Items] | |||
Gross Carrying Amount | [1] | 1,963 | |
Allowance for Credit Losses | [1],[2] | 3 | |
Stage 3 POCI [Member] | Fair Value through OCI [Member] | |||
Intro AQ Section //Mapping auf RFT [Line Items] | |||
Allowance for Credit Losses | 0 | ||
Fair value | 1 | ||
Notional Amount | € 0 | ||
Stage 3 POCI [Member] | Off-balance sheet [Member] | |||
Intro AQ Section //Mapping auf RFT [Line Items] | |||
Allowance for Credit Losses | [3] | 0 | |
Notional Amount | € 0 | ||
[1] | Financial Assets at Amortized Cost consist of: Loans at Amortized Cost, Cash and central bank balances, Interbank balances (w/o central banks), Central bank funds sold and securities purchased under resale agreements, Securities borrowed and certain subcategories of Other assets. | ||
[2] | Allowance for credit losses do not include allowance for country risk amounting to EUR 6 million as of Dec 31, 2018. | ||
[3] | Allowance for credit losses do not include allowance for country risk amounting to EUR 5 million as of Dec 31, 2018. |
Off-balance sheet lending commi
Off-balance sheet lending commitments and guarantee business, Allowance for Credit Losses (Detail) - Allowance for Credit Losses € in Millions | 12 Months Ended | |
Dec. 31, 2018EUR (€) | ||
Total Stages [Member] | ||
Off-balance sheet lending commitments and guarantee business [Line Items] | ||
Balance, beginning of year | € 272 | [1] |
Movements in financial assets including new business | 18 | [1] |
Transfers due to changes in creditworthiness | 0 | [1] |
Changes in models | ||
Foreign exchange and other changes | 0 | [1] |
Balance, end of reporting period | 289 | [1] |
Provision for Credit Losses excluding country risk | 18 | [1],[2] |
Stage 1 [Member] | ||
Off-balance sheet lending commitments and guarantee business [Line Items] | ||
Balance, beginning of year | 117 | [1] |
Movements in financial assets including new business | 0 | [1] |
Transfers due to changes in creditworthiness | 2 | [1] |
Changes in models | ||
Foreign exchange and other changes | 14 | [1] |
Balance, end of reporting period | 132 | [1] |
Provision for Credit Losses excluding country risk | 1 | [1],[2] |
Stage 2 [Member] | ||
Off-balance sheet lending commitments and guarantee business [Line Items] | ||
Balance, beginning of year | 36 | [1] |
Movements in financial assets including new business | 31 | [1] |
Transfers due to changes in creditworthiness | 0 | [1] |
Changes in models | ||
Foreign exchange and other changes | 6 | [1] |
Balance, end of reporting period | 73 | [1] |
Provision for Credit Losses excluding country risk | 31 | [1],[2] |
Stage 3 [Member] | ||
Off-balance sheet lending commitments and guarantee business [Line Items] | ||
Balance, beginning of year | 119 | [1] |
Movements in financial assets including new business | (13) | [1] |
Transfers due to changes in creditworthiness | (2) | [1] |
Changes in models | ||
Foreign exchange and other changes | (20) | [1] |
Balance, end of reporting period | 84 | [1] |
Provision for Credit Losses excluding country risk | (15) | [1],[2] |
Stage 3 POCI [Member] | ||
Off-balance sheet lending commitments and guarantee business [Line Items] | ||
Balance, beginning of year | 0 | [1] |
Movements in financial assets including new business | 0 | [1] |
Transfers due to changes in creditworthiness | ||
Changes in models | ||
Foreign exchange and other changes | 0 | [1] |
Balance, end of reporting period | 0 | [1] |
Provision for Credit Losses excluding country risk | € 0 | [1],[2] |
[1] | Allowance for credit losses does not include allowance for country risk amounting to EUR 5 million as of December 31, 2018. | |
[2] | The above table breaks down the impact on provision for credit losses from movements in financial assets including new business, transfers due to changes in creditworthiness and changes in models. |
Allowance for Loans Losses (Det
Allowance for Loans Losses (Detail) - EUR (€) € in Millions | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Individually assessed [Member] | |||
Allowance for Loans Losses [Line Items] | |||
Allowance for loan losses, beginning of year | € 1,766 | € 2,071 | € 2,252 |
Provision for loan losses | 0 | 299 | 743 |
Net charge-offs: | 0 | (487) | (894) |
Charge-offs | 0 | (541) | (979) |
Recoveries | 0 | 54 | 85 |
Other changes | 0 | (117) | (30) |
Allowance for loan losses, end of year | 0 | 1,766 | 2,071 |
Collectively assessed [Member] | |||
Allowance for Loans Losses [Line Items] | |||
Allowance for loan losses, beginning of year | 2,155 | 2,475 | 2,776 |
Provision for loan losses | 0 | 253 | 604 |
Net charge-offs: | 0 | (532) | (870) |
Charge-offs | 0 | (605) | (972) |
Recoveries | 0 | 73 | 101 |
Other changes | 0 | (41) | (35) |
Allowance for loan losses, end of year | 0 | 2,155 | 2,475 |
Total [Member] | |||
Allowance for Loans Losses [Line Items] | |||
Allowance for loan losses, beginning of year | 3,921 | 4,546 | 5,028 |
Provision for loan losses | 0 | 552 | 1,347 |
Net charge-offs: | 0 | (1,019) | (1,764) |
Charge-offs | 0 | (1,146) | (1,951) |
Recoveries | 0 | 127 | 187 |
Other changes | 0 | (158) | (65) |
Allowance for loan losses, end of year | € 0 | € 3,921 | € 4,546 |
Allowance for Off-Balance Sheet
Allowance for Off-Balance Sheet Positions (Detail) - EUR (€) € in Millions | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Individually assessed [Member] | ||
Allowance for Off-Balance Sheet Positions [Line Items] | ||
Allowance off-balance sheet, beginning of year | € 162 | € 144 |
Provision for off-balance sheet positions | (23) | 24 |
Usage | 0 | 0 |
Other changes | (18) | (5) |
Allowance off-balance sheet, end of year | 122 | 162 |
Collectively assessed [Member] | ||
Allowance for Off-Balance Sheet Positions [Line Items] | ||
Allowance off-balance sheet, beginning of year | 183 | 168 |
Provision for off-balance sheet positions | (4) | 12 |
Usage | 0 | 0 |
Other changes | (16) | 3 |
Allowance off-balance sheet, end of year | 163 | 183 |
Total [Member] | ||
Allowance for Off-Balance Sheet Positions [Line Items] | ||
Allowance off-balance sheet, beginning of year | 346 | 312 |
Provision for off-balance sheet positions | (27) | 36 |
Usage | 0 | 0 |
Other changes | (34) | (2) |
Allowance off-balance sheet, end of year | € 285 | € 346 |
Information on the Asset Types
Information on the Asset Types and the Associated Transactions (Detail) - Information on the Asset Types and the Associated Transactions [Member] - EUR (€) € in Millions | Dec. 31, 2018 | Dec. 31, 2017 | ||
Trading securities not derecognized due to the following transactions: | ||||
Repurchase agreements | € 33,980 | € 43,025 | [1] | |
Securities lending agreements | 41,621 | 58,076 | [1] | |
Total return swaps | 1,835 | 2,390 | [1] | |
Other | 6,589 | 12,661 | [1] | |
Total trading securities, assets | 84,025 | 116,153 | [1] | |
Other trading assets | 69 | 71 | [1] | |
Non-trading financial assets mandatory at fair value through profit and loss | 1,289 | |||
Financial assets available for sale | 711 | [1] | ||
Financial assets at fair value through other comprehensive income | 4,286 | |||
Loans at amortized cost | [2] | 408 | 131 | [1] |
Total | 90,076 | 117,066 | [1] | |
Carrying amount of associated liabilities | € 46,218 | € 51,937 | [1] | |
[1] | Prior year numbers have been restated following reassessments of certain repurchase transactions. | |||
[2] | Loans where the associated liability is recourse only to the transferred assets had a carrying value and fair value of EUR0million at December 31, 2018 and EUR108million at December 31, 2017. The associated liabilities had the same carrying value and fair value which resulted in a net position of 0. |
Information on the Asset Type_2
Information on the Asset Types and the Associated Transactions (Detail: Text Values) - EUR (€) € in Millions | Dec. 31, 2018 | Dec. 31, 2017 |
Loans where associated liability is recourse only to transferred assets [Abstract] | ||
Carrying value | € 0 | € 108 |
Fair value | 0 | 108 |
Net position of associated liabilities | € 0 | € 0 |
Continuing Involvement Accounti
Continuing Involvement Accounting (Detail) - Continuing Involvement Accounting [Member] - EUR (€) € in Millions | Dec. 31, 2018 | Dec. 31, 2017 |
Financial Assets Transferred Continuing Involvement Original assets [Member] | ||
Continuing Involvemnt Accounting [Line Items] | ||
Trading securities, assets | € 759 | € 0 |
Financial assets at fair value through profit or loss | 306 | 291 |
Non-trading financial assets mandatory at fair value through profit and loss | 386 | |
Financial assets available for sale | 386 | |
Financial Assets Transferred Continuing Involvement assets still recognised [Member] | ||
Continuing Involvemnt Accounting [Line Items] | ||
Trading securities, assets | 35 | 0 |
Financial assets at fair value through profit or loss | 15 | 15 |
Non-trading financial assets mandatory at fair value through profit and loss | 43 | |
Financial assets available for sale | 96 | |
Continuing Involvement Accounting, Associated Liabilities [Member] | ||
Continuing Involvemnt Accounting [Line Items] | ||
Carrying amount of associated liabilities | € 117 | € 54 |
Transferred Assets with on-goin
Transferred Assets with on-going Involvement I (Detail) - The impact on the Groups Balance Sheet of on-going involvement associated with transferred assets derecognized in full [Member] - EUR (€) € in Millions | Dec. 31, 2018 | Dec. 31, 2017 | |
Carrying value [Member] | |||
Loans | |||
Securitization notes | € 372 | € 270 | |
Other | 14 | 13 | |
Total loans | 385 | 284 | |
Financial assets held at Fair Value through the P&L: | |||
Securitization notes | 22 | 0 | |
Non-standard Interest Rate, cross-currency or inflation-linked swap | 5 | 36 | |
Total financial assets at fair value through profit or loss | 27 | 36 | |
Financial assets at fair value through other comprehensive income [Abstract] | |||
Securitization notes | 112 | 0 | |
Other | 0 | 0 | |
Total financial assets at fair value through other comprehensive income | 112 | 0 | |
Total financial assets representing on-going involvement | 524 | 320 | |
Financial liabilities held at Fair Value through the P&L: | |||
Non-standard Interest Rate, cross-currency or inflation-linked swap | 61 | 67 | |
Total financial liabilities representing on-going involvement | 61 | 67 | |
Fair value [Member] | |||
Loans | |||
Securitization notes | 372 | 270 | |
Other | 14 | 13 | |
Total loans | 385 | 284 | |
Financial assets held at Fair Value through the P&L: | |||
Securitization notes | 22 | 0 | |
Non-standard Interest Rate, cross-currency or inflation-linked swap | 5 | 36 | |
Total financial assets at fair value through profit or loss | 27 | 36 | |
Financial assets at fair value through other comprehensive income [Abstract] | |||
Securitization notes | 112 | 0 | |
Other | 0 | 0 | |
Total financial assets at fair value through other comprehensive income | 112 | 0 | |
Total financial assets representing on-going involvement | 524 | 320 | |
Financial liabilities held at Fair Value through the P&L: | |||
Non-standard Interest Rate, cross-currency or inflation-linked swap | 61 | 67 | |
Total financial liabilities representing on-going involvement | 61 | 67 | |
Maximum Exposure to Loss [Member] | |||
Loans | |||
Securitization notes | [1] | 372 | 270 |
Other | [1] | 14 | 13 |
Total loans | [1] | 385 | 284 |
Financial assets held at Fair Value through the P&L: | |||
Securitization notes | [1] | 22 | 0 |
Non-standard Interest Rate, cross-currency or inflation-linked swap | [1] | 5 | 36 |
Total financial assets at fair value through profit or loss | [1] | 27 | 36 |
Financial assets at fair value through other comprehensive income [Abstract] | |||
Securitization notes | [1] | 112 | 0 |
Other | [1] | 0 | 0 |
Total financial assets at fair value through other comprehensive income | [1] | 112 | 0 |
Total financial assets representing on-going involvement | [1] | 524 | 320 |
Financial liabilities held at Fair Value through the P&L: | |||
Non-standard Interest Rate, cross-currency or inflation-linked swap | [1] | 0 | 0 |
Total financial liabilities representing on-going involvement | [1] | € 0 | € 0 |
[1] | The maximum exposure to loss is defined as the carrying value plus the notional value of any undrawn loan commitments not recognized as liabilities. |
Transfers of Financial Assets -
Transfers of Financial Assets - Transferred Assets with on-going Involvement II (Detail) - EUR (€) € in Millions | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | ||
Year-to- date P&L [Member] | |||
Transferred Assets with on-going Involvement II [line items] | |||
Securitization notes | € 9 | € 3 | |
Non-standard Interest Rate, cross-currency or inflation-linked swap | 21 | 46 | |
Net gains/(losses) recognized from on-going involvement in derecognized assets | 30 | 49 | |
Cumulative P&L [Member] | |||
Transferred Assets with on-going Involvement II [line items] | |||
Securitization notes | 13 | 3 | |
Non-standard Interest Rate, cross-currency or inflation-linked swap | 268 | 510 | |
Net gains/(losses) recognized from on-going involvement in derecognized assets | 281 | 513 | |
Gain/(loss) on disposal [Member] | |||
Transferred Assets with on-going Involvement II [line items] | |||
Securitization notes | 11 | 79 | [1] |
Non-standard Interest Rate, cross-currency or inflation-linked swap | 0 | 0 | |
Net gains/(losses) recognized from on-going involvement in derecognized assets | € 11 | € 79 | |
[1] | Typically, sales of assets into securitization vehicles were of assets that were classified as Fair Value through P&L, therefore any gain or loss on disposal is immaterial. |
Carrying value of the Groups as
Carrying value of the Groups assets pledged as collateral for liabilities or contingent liabilities (Detail) - Carrying Value of the Assets Pledged as Collateral [Member] - EUR (€) € in Millions | Dec. 31, 2018 | Dec. 31, 2017 | |||
Carrying Value of the Assets Pledged as Collateral [Line Items] | |||||
Financial assets at fair value through profit or loss | [1] | € 41,816 | € 54,134 | [2] | |
Financial assets at fair value through other comprehensive income | 4,274 | [1] | |||
Financial assets available for sale | 6,469 | [1],[2] | |||
Loans | [1] | 75,641 | 71,404 | [2] | |
Other | [1] | 1,364 | 417 | [2] | |
Total | [1] | € 123,095 | € 132,423 | [2] | |
[1] | Excludes assets pledged as collateral from transactions that do not result in liabilities or contingent liabilities. | ||||
[2] | Prior period results have been restated. |
Total assets pledged to credito
Total assets pledged to creditors available for sale or repledge (Detail) - Total assets pledged to creditors [Member] - EUR (€) € in Millions | Dec. 31, 2018 | Dec. 31, 2017 | [2] | |
Total assets pledged to creditors [Line Items] | ||||
Financial assets at fair value through profit or loss | [1] | € 45,640 | € 71,278 | |
Financial assets at fair value through other comprehensive income | [1] | 3,201 | 0 | |
Financial assets available for sale | 0 | [1] | ||
Loans | [1] | 11 | 0 | |
Total | [1] | € 48,851 | € 71,278 | |
[1] | Includes assets pledged as collateral from transactions that do not result in liabilities or contingent liabilities. | |||
[2] | Prior period results have been restated. |
Fair Value of collateral receiv
Fair Value of collateral received (Detail) - EUR (€) € in Millions | Dec. 31, 2018 | Dec. 31, 2017 | [1] |
Collateral Received | |||
Securities and other financial assets accepted as collateral | € 292,474 | € 366,312 | |
thereof [Abstract] | |||
collateral sold or repledged | € 240,365 | € 308,970 | |
[1] | Prior period results have been restated. |
Property and Equipment (Detail)
Property and Equipment (Detail) - EUR (€) € in Millions | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Carrying value [Member] | ||
Property and Equipment [Line Items] | ||
Property and equipment, beginning of period | € 2,663 | |
Property and equipment, end of period | 2,421 | € 2,663 |
Cost of acquisition [Member] | ||
Property and Equipment [Line Items] | ||
Property and equipment, beginning of period | 6,743 | 6,982 |
Changes in the group of consolidated companies | 139 | (9) |
Additions | 465 | 485 |
Transfers | (53) | (4) |
Reclassifications (to)/from "held for sale" | (538) | (61) |
Disposals | 569 | 484 |
Exchange rate changes | 195 | (166) |
Property and equipment, end of period | 6,382 | 6,743 |
Accumulated depreciation and impairment [Member] | ||
Property and Equipment [Line Items] | ||
Accumulated depreciation and impairment, beginning of period | 4,080 | 4,178 |
Changes in the group of consolidated companies | 27 | (9) |
Transfers | 30 | (4) |
Reclassifications (to)/from "held for sale" | (277) | 0 |
Disposals | 426 | 418 |
Exchange rate changes | 125 | (128) |
Depreciation | 430 | 441 |
Impairment losses | 9 | 19 |
Reversals of impairment losses | 37 | (1) |
Accumulated depreciation and impairment, end of period | 3,960 | 4,080 |
Owner occupied properties [Member] | Carrying value [Member] | ||
Property and Equipment [Line Items] | ||
Property and equipment, beginning of period | 809 | |
Property and equipment, end of period | 450 | 809 |
Owner occupied properties [Member] | Cost of acquisition [Member] | ||
Property and Equipment [Line Items] | ||
Property and equipment, beginning of period | 1,387 | 1,516 |
Changes in the group of consolidated companies | 0 | 0 |
Additions | 11 | 12 |
Transfers | (8) | 18 |
Reclassifications (to)/from "held for sale" | (478) | (61) |
Disposals | 134 | 96 |
Exchange rate changes | 1 | (3) |
Property and equipment, end of period | 778 | 1,387 |
Owner occupied properties [Member] | Accumulated depreciation and impairment [Member] | ||
Property and Equipment [Line Items] | ||
Accumulated depreciation and impairment, beginning of period | 579 | 572 |
Changes in the group of consolidated companies | 0 | 0 |
Transfers | (13) | 1 |
Reclassifications (to)/from "held for sale" | (215) | 0 |
Disposals | 17 | 44 |
Exchange rate changes | 1 | (1) |
Depreciation | 28 | 37 |
Impairment losses | 3 | 15 |
Reversals of impairment losses | 37 | 0 |
Accumulated depreciation and impairment, end of period | 328 | 579 |
Furniture and equipment [Member] | Carrying value [Member] | ||
Property and Equipment [Line Items] | ||
Property and equipment, beginning of period | 673 | |
Property and equipment, end of period | 740 | 673 |
Furniture and equipment [Member] | Cost of acquisition [Member] | ||
Property and Equipment [Line Items] | ||
Property and equipment, beginning of period | 2,473 | 2,406 |
Changes in the group of consolidated companies | 141 | (8) |
Additions | 150 | 165 |
Transfers | (4) | 75 |
Reclassifications (to)/from "held for sale" | (30) | 0 |
Disposals | 291 | 97 |
Exchange rate changes | 164 | (67) |
Property and equipment, end of period | 2,602 | 2,473 |
Furniture and equipment [Member] | Accumulated depreciation and impairment [Member] | ||
Property and Equipment [Line Items] | ||
Accumulated depreciation and impairment, beginning of period | 1,800 | 1,720 |
Changes in the group of consolidated companies | 28 | (8) |
Transfers | 48 | 17 |
Reclassifications (to)/from "held for sale" | (40) | 0 |
Disposals | 281 | 90 |
Exchange rate changes | 99 | (54) |
Depreciation | 206 | 211 |
Impairment losses | 3 | 3 |
Reversals of impairment losses | 0 | (1) |
Accumulated depreciation and impairment, end of period | 1,862 | 1,800 |
Leasehold improvements [Member] | Carrying value [Member] | ||
Property and Equipment [Line Items] | ||
Property and equipment, beginning of period | 1,041 | |
Property and equipment, end of period | 1,090 | 1,041 |
Leasehold improvements [Member] | Cost of acquisition [Member] | ||
Property and Equipment [Line Items] | ||
Property and equipment, beginning of period | 2,743 | 2,820 |
Changes in the group of consolidated companies | (2) | (1) |
Additions | 155 | 117 |
Transfers | 106 | 191 |
Reclassifications (to)/from "held for sale" | (27) | 0 |
Disposals | 144 | 291 |
Exchange rate changes | 29 | (92) |
Property and equipment, end of period | 2,860 | 2,743 |
Leasehold improvements [Member] | Accumulated depreciation and impairment [Member] | ||
Property and Equipment [Line Items] | ||
Accumulated depreciation and impairment, beginning of period | 1,702 | 1,886 |
Changes in the group of consolidated companies | (1) | (1) |
Transfers | (5) | (22) |
Reclassifications (to)/from "held for sale" | (22) | 0 |
Disposals | 128 | 284 |
Exchange rate changes | 24 | (72) |
Depreciation | 197 | 193 |
Impairment losses | 3 | 2 |
Reversals of impairment losses | 0 | 0 |
Accumulated depreciation and impairment, end of period | 1,770 | 1,702 |
Construction-in-progress [Member] | Carrying value [Member] | ||
Property and Equipment [Line Items] | ||
Property and equipment, beginning of period | 139 | |
Property and equipment, end of period | 142 | 139 |
Construction-in-progress [Member] | Cost of acquisition [Member] | ||
Property and Equipment [Line Items] | ||
Property and equipment, beginning of period | 139 | 240 |
Changes in the group of consolidated companies | 0 | 0 |
Additions | 150 | 191 |
Transfers | (147) | (288) |
Reclassifications (to)/from "held for sale" | (2) | 0 |
Disposals | 0 | 0 |
Exchange rate changes | 1 | (4) |
Property and equipment, end of period | 142 | 139 |
Construction-in-progress [Member] | Accumulated depreciation and impairment [Member] | ||
Property and Equipment [Line Items] | ||
Accumulated depreciation and impairment, beginning of period | 0 | 0 |
Changes in the group of consolidated companies | 0 | 0 |
Transfers | 0 | 0 |
Reclassifications (to)/from "held for sale" | 0 | 0 |
Disposals | 0 | 0 |
Exchange rate changes | 0 | 0 |
Depreciation | 0 | 0 |
Impairment losses | 0 | 0 |
Reversals of impairment losses | 0 | 0 |
Accumulated depreciation and impairment, end of period | € 0 | € 0 |
Property and Equipment (Detail_
Property and Equipment (Detail: Text Values) - EUR (€) € in Millions | Dec. 31, 2018 | Dec. 31, 2017 |
Property and Equipment [Abstract] | ||
Carrying value of items of property and equipment on which there is a restriction on sale | € 42 | € 40 |
Commitments for the acquisition of property and equipment | € 273 | € 41 |
Net Carrying Value for each Cla
Net Carrying Value for each Class of Leasing Assets (Detail) - Net Carrying Value for each Class of Leasing Assets [Member] - EUR (€) € in Millions | Dec. 31, 2018 | Dec. 31, 2017 |
Net Carrying Value for each Class of Leasing Assets [Line Items] | ||
Land and buildings | € 28 | € 14 |
Furniture and equipment | 0 | 4 |
Net Carrying Value for each Class of Leasing Assets, Other | 0 | 0 |
Net carrying value | € 28 | € 18 |
Net Carrying Value for each C_2
Net Carrying Value for each Class of Leasing Assets (Detail: Text Values) € in Millions | 12 Months Ended |
Dec. 31, 2018EUR (€) | |
Net Carrying Value for each Class of Leasing Assets [Abstract] | |
Total future minimum rental payments for the Group headquarters in Frankfurt am Main that was sold and leased back on December 1, 2011 | € 441 |
Leaseback arrangement for the entire headquarter in month | 181 |
Rental payments for lease and sublease agreements | 747 |
thereof [Abstract] | |
Charges for minimum lease payments | 769 |
Sublease rentals received | € 20 |
Future Minimum Lease Payments (
Future Minimum Lease Payments (Finance Leases) (Detail) - EUR (€) € in Millions | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | ||
Future minimum lease payments: | |||
Not later than one year | € 19 | € 8 | |
Later than one year and not later than five years | 34 | 20 | |
Later than five years | 65 | 70 | |
Total future minimum lease payments | 118 | 98 | |
Less: Future interest charges | 91 | 70 | |
Present value of finance lease commitments | 27 | 28 | |
Future minimum lease payments to be received | 5 | 0 | |
Contingent rent recognized in the income statement | [1] | € 0 | € 0 |
[1] | The contingent rent is based on market interest rates, such as three months EURIBOR; below a certain rate the Group receives a rebate. |
Future Minimum Lease Payments_2
Future Minimum Lease Payments (Operating Leases) (Detail) - EUR (€) € in Millions | Dec. 31, 2018 | Dec. 31, 2017 |
Future minimum rental payments: | ||
Not later than one year | € 707 | € 684 |
Later than one year and not later than five years | 2,077 | 1,979 |
Later than five years | 3,480 | 1,901 |
Total future minimum rental payments | 6,264 | 4,564 |
Less: Future minimum rentals to be received | 20 | 58 |
Net future minimum rental payments | € 6,244 | € 4,506 |
Changes in Goodwill (Detail)
Changes in Goodwill (Detail) - EUR (€) € in Millions | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | ||
Changes in Goodwill [Line Items] | |||
Goodwill, balance, period start | € 3,782 | € 4,103 | |
Goodwill acquired during the year | 0 | 0 | |
Purchase accounting adjustments | 0 | 0 | |
Transfers | 0 | 0 | |
Reclassification from (to) held for sale | (4) | (3) | |
Goodwill related to dispositions without being classified as held for sale | 0 | (6) | |
Impairment losses | [1] | 0 | (6) |
Exchange rate changes/other | 98 | (306) | |
Goodwill, balance, period end | 3,876 | 3,782 | |
Gross amount of goodwill | 11,449 | 11,203 | |
Accumulated impairment losses | (7,573) | (7,422) | |
Sales & Trading [Member] | |||
Changes in Goodwill [Line Items] | |||
Goodwill, balance, period start | 0 | 0 | |
Goodwill acquired during the year | 0 | 0 | |
Purchase accounting adjustments | 0 | 0 | |
Transfers | 0 | 6 | |
Reclassification from (to) held for sale | 0 | 0 | |
Goodwill related to dispositions without being classified as held for sale | 0 | 0 | |
Impairment losses | [1] | 0 | (6) |
Exchange rate changes/other | 0 | 0 | |
Goodwill, balance, period end | 0 | 0 | |
Gross amount of goodwill | 2,889 | 2,780 | |
Accumulated impairment losses | (2,889) | (2,780) | |
Global Transaction Banking Global Capital Markets Corporate Finance [Member] | |||
Changes in Goodwill [Line Items] | |||
Goodwill, balance, period start | 471 | 532 | |
Goodwill acquired during the year | 0 | 0 | |
Purchase accounting adjustments | 0 | 0 | |
Transfers | 0 | (6) | |
Reclassification from (to) held for sale | 0 | (3) | |
Goodwill related to dispositions without being classified as held for sale | 0 | 0 | |
Impairment losses | [1] | 0 | 0 |
Exchange rate changes/other | 18 | (52) | |
Goodwill, balance, period end | 489 | 471 | |
Gross amount of goodwill | 1,539 | 1,485 | |
Accumulated impairment losses | (1,051) | (1,014) | |
Private & Commercial Bank [Member] | |||
Changes in Goodwill [Line Items] | |||
Goodwill, balance, period start | 0 | 0 | |
Goodwill acquired during the year | 0 | 0 | |
Purchase accounting adjustments | 0 | 0 | |
Transfers | 0 | 0 | |
Reclassification from (to) held for sale | 0 | 0 | |
Goodwill related to dispositions without being classified as held for sale | 0 | 0 | |
Impairment losses | [1] | 0 | 0 |
Exchange rate changes/other | 0 | 0 | |
Goodwill, balance, period end | 0 | 0 | |
Gross amount of goodwill | 1,076 | 1,077 | |
Accumulated impairment losses | (1,076) | (1,077) | |
Wealth Management [Member] | |||
Changes in Goodwill [Line Items] | |||
Goodwill, balance, period start | 0 | 0 | |
Goodwill acquired during the year | 0 | 0 | |
Purchase accounting adjustments | 0 | 0 | |
Transfers | 0 | 0 | |
Reclassification from (to) held for sale | 0 | 0 | |
Goodwill related to dispositions without being classified as held for sale | 0 | 0 | |
Impairment losses | [1] | 0 | 0 |
Exchange rate changes/other | 0 | 0 | |
Goodwill, balance, period end | 0 | 0 | |
Gross amount of goodwill | 2,086 | 2,086 | |
Accumulated impairment losses | (2,086) | (2,086) | |
Postbank [Member] | |||
Changes in Goodwill [Line Items] | |||
Goodwill, balance, period start | 541 | 564 | |
Goodwill acquired during the year | 0 | 0 | |
Purchase accounting adjustments | 0 | 0 | |
Transfers | 0 | 0 | |
Reclassification from (to) held for sale | (4) | 0 | |
Goodwill related to dispositions without being classified as held for sale | 0 | 0 | |
Impairment losses | [1] | 0 | 0 |
Exchange rate changes/other | 5 | (22) | |
Goodwill, balance, period end | 543 | 541 | |
Gross amount of goodwill | 543 | 541 | |
Accumulated impairment losses | 0 | 0 | |
Asset Management [Member] | |||
Changes in Goodwill [Line Items] | |||
Goodwill, balance, period start | 2,768 | 3,006 | |
Goodwill acquired during the year | 0 | 0 | |
Purchase accounting adjustments | 0 | 0 | |
Transfers | 0 | 0 | |
Reclassification from (to) held for sale | 0 | 0 | |
Goodwill related to dispositions without being classified as held for sale | 0 | (6) | |
Impairment losses | [1] | 0 | 0 |
Exchange rate changes/other | 74 | (231) | |
Goodwill, balance, period end | 2,843 | 2,768 | |
Gross amount of goodwill | 3,314 | 3,232 | |
Accumulated impairment losses | (471) | (464) | |
Others [Member] | |||
Changes in Goodwill [Line Items] | |||
Goodwill, balance, period start | 1 | 1 | |
Goodwill acquired during the year | 0 | 0 | |
Purchase accounting adjustments | 0 | 0 | |
Transfers | 0 | 0 | |
Reclassification from (to) held for sale | 0 | 0 | |
Goodwill related to dispositions without being classified as held for sale | 0 | 0 | |
Impairment losses | [1] | 0 | 0 |
Exchange rate changes/other | 0 | 0 | |
Goodwill, balance, period end | 1 | 1 | |
Gross amount of goodwill | 1 | 1 | |
Accumulated impairment losses | € 0 | € 0 | |
[1] | Impairment losses of goodwill are recorded as impairment of goodwill and other intangible assets in the income statement. |
Changes in Goodwill (Detail_ Te
Changes in Goodwill (Detail: Text Values) - Goodwill Parenthetical [Member] € in Millions | 12 Months Ended |
Dec. 31, 2016EUR (€) | |
Changes in Goodwill [Line Items] | |
Impairment losses | € 785 |
Sale of Abbey Life [Abstract] | |
Impairment of goodwill | 500 |
Impairment of value of business acquired (VOBA) | 515 |
Asset Management [Member] | |
Changes in Goodwill [Line Items] | |
Impairment losses | 500 |
Transfers | (285) |
Sale of Abbey Life [Abstract] | |
Impairment of goodwill | 500 |
Impairment of value of business acquired (VOBA) | 515 |
S&T [Member] | |
Changes in Goodwill [Line Items] | |
Impairment losses | 285 |
Transfers | € 285 |
Primary Cash-Generating Units (
Primary Cash-Generating Units (Detail) | Dec. 31, 2018 | Dec. 31, 2017 |
Global Transaction Banking & Corporate Finance [Member] | ||
Primary Cash-Generating Units [Line Items] | ||
Discount rate (post-tax) | 8.80% | 8.80% |
Wealth Management [Member] | ||
Primary Cash-Generating Units [Line Items] | ||
Discount rate (post-tax) | 9.00% | 9.10% |
Asset Management [Member] | ||
Primary Cash-Generating Units [Line Items] | ||
Discount rate (post-tax) | 9.70% | 10.00% |
Primary Cash-Generating Units_2
Primary Cash-Generating Units (Detail: Text Values) | Dec. 31, 2018 | Dec. 31, 2017 |
Primary Cash-Generating Units | ||
Constant long-term growth rate of up to | 3.10% | 3.20% |
Changes of Other Intangible Ass
Changes of Other Intangible Assets by Asset Class (Detail) - EUR (€) € in Millions | 12 Months Ended | |||
Dec. 31, 2018 | Dec. 31, 2017 | |||
Total other intangible assets [Member] | Carrying value [Member] | ||||
Changes of Other Intangible Assets by Asset Class [Line Items] | ||||
Carrying amount, As of | € 5,265 | € 5,057 | ||
Total other intangible assets [Member] | Cost of acquisition/manufacture [Member] | ||||
Changes of Other Intangible Assets by Asset Class [Line Items] | ||||
Cost of acquisition/manufacture, Balance as of | 10,761 | 10,140 | ||
Additions | 1,298 | 1,423 | ||
Changes in the group of consolidated companies | 0 | (206) | ||
Disposals | 851 | 142 | ||
Reclassifications from (to) held for sale | (27) | (6) | ||
Transfers | (24) | 9 | ||
Exchange rate changes | 165 | (457) | ||
Cost of acquisition/manufacture, Balance as of | 11,322 | 10,761 | ||
Total other intangible assets [Member] | Accumulated amortization and impairment [Member] | ||||
Changes of Other Intangible Assets by Asset Class [Line Items] | ||||
Amortization for the year | 1,095 | [1] | 935 | [2] |
Changes in the group of consolidated companies | 0 | (206) | ||
Disposals | 850 | 99 | ||
Reclassifications from (to) held for sale | (27) | (4) | ||
Impairment losses | 42 | [3] | 57 | [4] |
Reversals of impairment losses | 0 | 0 | ||
Transfers | 10 | 6 | ||
Exchange rate changes | 83 | (246) | ||
Accumulated amortization and impairment, Balance as of | 5,704 | 5,261 | ||
Accumulated amortization and impairment, Balance as of | 6,057 | 5,704 | ||
Total unamortized purchased intangible assets [Member] | Carrying value [Member] | ||||
Changes of Other Intangible Assets by Asset Class [Line Items] | ||||
Carrying amount, As of | 757 | 720 | ||
Total unamortized purchased intangible assets [Member] | Cost of acquisition/manufacture [Member] | ||||
Changes of Other Intangible Assets by Asset Class [Line Items] | ||||
Cost of acquisition/manufacture, Balance as of | 1,402 | 1,534 | ||
Additions | 0 | 0 | ||
Changes in the group of consolidated companies | 0 | 0 | ||
Disposals | 0 | 0 | ||
Reclassifications from (to) held for sale | 0 | 0 | ||
Transfers | 2 | 0 | ||
Exchange rate changes | 48 | (132) | ||
Cost of acquisition/manufacture, Balance as of | 1,451 | 1,402 | ||
Total unamortized purchased intangible assets [Member] | Accumulated amortization and impairment [Member] | ||||
Changes of Other Intangible Assets by Asset Class [Line Items] | ||||
Amortization for the year | 0 | 0 | ||
Changes in the group of consolidated companies | 0 | 0 | ||
Disposals | 0 | 0 | ||
Reclassifications from (to) held for sale | 0 | 0 | ||
Impairment losses | 0 | 15 | ||
Reversals of impairment losses | 0 | 0 | ||
Transfers | 0 | 0 | ||
Exchange rate changes | 12 | (33) | ||
Accumulated amortization and impairment, Balance as of | 682 | 700 | ||
Accumulated amortization and impairment, Balance as of | 694 | 682 | ||
Purchased unamortized retail investment management agreements [Member] | Carrying value [Member] | ||||
Changes of Other Intangible Assets by Asset Class [Line Items] | ||||
Carrying amount, As of | 755 | 719 | ||
Purchased unamortized retail investment management agreements [Member] | Cost of acquisition/manufacture [Member] | ||||
Changes of Other Intangible Assets by Asset Class [Line Items] | ||||
Cost of acquisition/manufacture, Balance as of | 963 | 1,094 | ||
Additions | 0 | 0 | ||
Changes in the group of consolidated companies | 0 | 0 | ||
Disposals | 0 | 0 | ||
Reclassifications from (to) held for sale | 0 | 0 | ||
Transfers | 0 | 0 | ||
Exchange rate changes | 48 | (131) | ||
Cost of acquisition/manufacture, Balance as of | 1,010 | 963 | ||
Purchased unamortized retail investment management agreements [Member] | Accumulated amortization and impairment [Member] | ||||
Changes of Other Intangible Assets by Asset Class [Line Items] | ||||
Amortization for the year | 0 | 0 | ||
Changes in the group of consolidated companies | 0 | 0 | ||
Disposals | 0 | 0 | ||
Reclassifications from (to) held for sale | 0 | 0 | ||
Impairment losses | 0 | 0 | ||
Reversals of impairment losses | 0 | 0 | ||
Transfers | 0 | 0 | ||
Exchange rate changes | 12 | (33) | ||
Accumulated amortization and impairment, Balance as of | 243 | 276 | ||
Accumulated amortization and impairment, Balance as of | 255 | 243 | ||
Purchased unamortized other intangible assets [Member] | Carrying value [Member] | ||||
Changes of Other Intangible Assets by Asset Class [Line Items] | ||||
Carrying amount, As of | 2 | 1 | ||
Purchased unamortized other intangible assets [Member] | Cost of acquisition/manufacture [Member] | ||||
Changes of Other Intangible Assets by Asset Class [Line Items] | ||||
Cost of acquisition/manufacture, Balance as of | 440 | 440 | ||
Additions | 0 | 0 | ||
Changes in the group of consolidated companies | 0 | 0 | ||
Disposals | 0 | 0 | ||
Reclassifications from (to) held for sale | 0 | 0 | ||
Transfers | 2 | 0 | ||
Exchange rate changes | 0 | (1) | ||
Cost of acquisition/manufacture, Balance as of | 441 | 440 | ||
Purchased unamortized other intangible assets [Member] | Accumulated amortization and impairment [Member] | ||||
Changes of Other Intangible Assets by Asset Class [Line Items] | ||||
Amortization for the year | 0 | 0 | ||
Changes in the group of consolidated companies | 0 | 0 | ||
Disposals | 0 | 0 | ||
Reclassifications from (to) held for sale | 0 | 0 | ||
Impairment losses | 0 | 15 | ||
Reversals of impairment losses | 0 | 0 | ||
Transfers | 0 | 0 | ||
Exchange rate changes | 0 | 0 | ||
Accumulated amortization and impairment, Balance as of | 439 | 424 | ||
Accumulated amortization and impairment, Balance as of | 439 | 439 | ||
Total amortized purchased intangible assets [Member] | Carrying value [Member] | ||||
Changes of Other Intangible Assets by Asset Class [Line Items] | ||||
Carrying amount, As of | 136 | 227 | ||
Total amortized purchased intangible assets [Member] | Cost of acquisition/manufacture [Member] | ||||
Changes of Other Intangible Assets by Asset Class [Line Items] | ||||
Cost of acquisition/manufacture, Balance as of | 2,335 | 2,372 | ||
Additions | 56 | 63 | ||
Changes in the group of consolidated companies | 0 | (35) | ||
Disposals | 126 | 21 | ||
Reclassifications from (to) held for sale | (7) | (6) | ||
Transfers | (215) | 51 | ||
Exchange rate changes | 15 | (89) | ||
Cost of acquisition/manufacture, Balance as of | 2,058 | 2,335 | ||
Total amortized purchased intangible assets [Member] | Accumulated amortization and impairment [Member] | ||||
Changes of Other Intangible Assets by Asset Class [Line Items] | ||||
Amortization for the year | 61 | 65 | ||
Changes in the group of consolidated companies | 0 | (35) | ||
Disposals | 125 | 19 | ||
Reclassifications from (to) held for sale | (7) | (4) | ||
Impairment losses | 0 | 0 | ||
Reversals of impairment losses | 0 | 0 | ||
Transfers | (129) | 41 | ||
Exchange rate changes | 14 | (84) | ||
Accumulated amortization and impairment, Balance as of | 2,108 | 2,143 | ||
Accumulated amortization and impairment, Balance as of | 1,922 | 2,108 | ||
Purchased amortized customer-related intangible assets [Member] | Carrying value [Member] | ||||
Changes of Other Intangible Assets by Asset Class [Line Items] | ||||
Carrying amount, As of | 26 | 43 | ||
Purchased amortized customer-related intangible assets [Member] | Cost of acquisition/manufacture [Member] | ||||
Changes of Other Intangible Assets by Asset Class [Line Items] | ||||
Cost of acquisition/manufacture, Balance as of | 1,364 | 1,431 | ||
Additions | 12 | 15 | ||
Changes in the group of consolidated companies | 0 | 0 | ||
Disposals | 0 | 0 | ||
Reclassifications from (to) held for sale | 0 | (6) | ||
Transfers | (3) | 1 | ||
Exchange rate changes | 10 | (77) | ||
Cost of acquisition/manufacture, Balance as of | 1,384 | 1,364 | ||
Purchased amortized customer-related intangible assets [Member] | Accumulated amortization and impairment [Member] | ||||
Changes of Other Intangible Assets by Asset Class [Line Items] | ||||
Amortization for the year | 21 | 34 | ||
Changes in the group of consolidated companies | 0 | 0 | ||
Disposals | 0 | 0 | ||
Reclassifications from (to) held for sale | 0 | (4) | ||
Impairment losses | 0 | 0 | ||
Reversals of impairment losses | 0 | 0 | ||
Transfers | 6 | 0 | ||
Exchange rate changes | 10 | (72) | ||
Accumulated amortization and impairment, Balance as of | 1,321 | 1,363 | ||
Accumulated amortization and impairment, Balance as of | 1,358 | 1,321 | ||
Purchased amortized value of business acquired [Member] | Carrying value [Member] | ||||
Changes of Other Intangible Assets by Asset Class [Line Items] | ||||
Carrying amount, As of | 0 | 0 | ||
Purchased amortized value of business acquired [Member] | Cost of acquisition/manufacture [Member] | ||||
Changes of Other Intangible Assets by Asset Class [Line Items] | ||||
Cost of acquisition/manufacture, Balance as of | 0 | 0 | ||
Additions | 0 | 0 | ||
Changes in the group of consolidated companies | 0 | 0 | ||
Disposals | 0 | 0 | ||
Reclassifications from (to) held for sale | 0 | 0 | ||
Transfers | 0 | 0 | ||
Exchange rate changes | 0 | 0 | ||
Cost of acquisition/manufacture, Balance as of | 0 | 0 | ||
Purchased amortized value of business acquired [Member] | Accumulated amortization and impairment [Member] | ||||
Changes of Other Intangible Assets by Asset Class [Line Items] | ||||
Amortization for the year | 0 | 0 | ||
Changes in the group of consolidated companies | 0 | 0 | ||
Disposals | 0 | 0 | ||
Reclassifications from (to) held for sale | 0 | 0 | ||
Impairment losses | 0 | 0 | ||
Reversals of impairment losses | 0 | 0 | ||
Transfers | 0 | 0 | ||
Exchange rate changes | 0 | 0 | ||
Accumulated amortization and impairment, Balance as of | 0 | 0 | ||
Accumulated amortization and impairment, Balance as of | 0 | 0 | ||
Purchased amortized contract-based intangible assets [Member] | Carrying value [Member] | ||||
Changes of Other Intangible Assets by Asset Class [Line Items] | ||||
Carrying amount, As of | 0 | 1 | ||
Purchased amortized contract-based intangible assets [Member] | Cost of acquisition/manufacture [Member] | ||||
Changes of Other Intangible Assets by Asset Class [Line Items] | ||||
Cost of acquisition/manufacture, Balance as of | 70 | 70 | ||
Additions | 0 | 0 | ||
Changes in the group of consolidated companies | 0 | 0 | ||
Disposals | 0 | 0 | ||
Reclassifications from (to) held for sale | 0 | 0 | ||
Transfers | 0 | 0 | ||
Exchange rate changes | 0 | 0 | ||
Cost of acquisition/manufacture, Balance as of | 70 | 70 | ||
Purchased amortized contract-based intangible assets [Member] | Accumulated amortization and impairment [Member] | ||||
Changes of Other Intangible Assets by Asset Class [Line Items] | ||||
Amortization for the year | 1 | 4 | ||
Changes in the group of consolidated companies | 0 | 0 | ||
Disposals | 0 | 0 | ||
Reclassifications from (to) held for sale | 0 | 0 | ||
Impairment losses | 0 | 0 | ||
Reversals of impairment losses | 0 | 0 | ||
Transfers | 0 | 0 | ||
Exchange rate changes | 0 | 0 | ||
Accumulated amortization and impairment, Balance as of | 69 | 65 | ||
Accumulated amortization and impairment, Balance as of | 70 | 69 | ||
Purchased amortized software and other [Member] | Carrying value [Member] | ||||
Changes of Other Intangible Assets by Asset Class [Line Items] | ||||
Carrying amount, As of | 109 | 183 | ||
Purchased amortized software and other [Member] | Cost of acquisition/manufacture [Member] | ||||
Changes of Other Intangible Assets by Asset Class [Line Items] | ||||
Cost of acquisition/manufacture, Balance as of | 901 | 871 | ||
Additions | 44 | 48 | ||
Changes in the group of consolidated companies | 0 | (35) | ||
Disposals | 126 | 21 | ||
Reclassifications from (to) held for sale | (7) | 0 | ||
Transfers | (213) | 50 | ||
Exchange rate changes | 5 | (12) | ||
Cost of acquisition/manufacture, Balance as of | 603 | 901 | ||
Purchased amortized software and other [Member] | Accumulated amortization and impairment [Member] | ||||
Changes of Other Intangible Assets by Asset Class [Line Items] | ||||
Amortization for the year | 40 | 27 | ||
Changes in the group of consolidated companies | 0 | (35) | ||
Disposals | 125 | 19 | ||
Reclassifications from (to) held for sale | (7) | 0 | ||
Impairment losses | 0 | 0 | ||
Reversals of impairment losses | 0 | 0 | ||
Transfers | (136) | 41 | ||
Exchange rate changes | 5 | (12) | ||
Accumulated amortization and impairment, Balance as of | 718 | 715 | ||
Accumulated amortization and impairment, Balance as of | 494 | 718 | ||
Internally generated amortized software [Member] | Carrying value [Member] | ||||
Changes of Other Intangible Assets by Asset Class [Line Items] | ||||
Carrying amount, As of | 4,372 | 4,110 | ||
Internally generated amortized software [Member] | Cost of acquisition/manufacture [Member] | ||||
Changes of Other Intangible Assets by Asset Class [Line Items] | ||||
Cost of acquisition/manufacture, Balance as of | 7,024 | 6,235 | ||
Additions | 1,242 | 1,360 | ||
Changes in the group of consolidated companies | 0 | (171) | ||
Disposals | 725 | 121 | ||
Reclassifications from (to) held for sale | (20) | 0 | ||
Transfers | 190 | (42) | ||
Exchange rate changes | 102 | (237) | ||
Cost of acquisition/manufacture, Balance as of | 7,814 | 7,024 | ||
Internally generated amortized software [Member] | Accumulated amortization and impairment [Member] | ||||
Changes of Other Intangible Assets by Asset Class [Line Items] | ||||
Amortization for the year | 1,034 | 870 | ||
Changes in the group of consolidated companies | 0 | (171) | ||
Disposals | 724 | 81 | ||
Reclassifications from (to) held for sale | (20) | 0 | ||
Impairment losses | 42 | 42 | ||
Reversals of impairment losses | 0 | 0 | ||
Transfers | 139 | (35) | ||
Exchange rate changes | 57 | (129) | ||
Accumulated amortization and impairment, Balance as of | 2,914 | 2,418 | ||
Accumulated amortization and impairment, Balance as of | € 3,442 | € 2,914 | ||
[1] | The EUR1.1billion were included in general and administrative expenses. | |||
[2] | The EUR935million were included in general and administrative expenses. | |||
[3] | TheEUR42million were related to the impairment of self-developed software, recorded in general and administrative expenses. | |||
[4] | Of which EUR42million were related to the impairment of self-developed software, recorded in general and administrative expenses, and EUR15million referring to the impairment of a non-amortizing trade-mark intangible asset which is included under impairment of goodwill and other intangible asset. |
Useful Lives of Other Amortized
Useful Lives of Other Amortized Intangible Assets by Asset Class (Detail) - Useful lives in years up to [Member] | Dec. 31, 2018 |
Internally generated intangible assets: | |
Software | 10 |
Purchased intangible assets: | |
Customer-related intangible assets | 20 |
Contract-based intangible assets | 8 |
Other | 80 |
Parenthetical Information Note
Parenthetical Information Note 25 Other Amortizing Intangible Assets (Detail: Text Values) - EUR (€) € in Millions | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Parenthetical Information Note 25 Other Amortizing Intangible Assets [Line Items] | |||
Impairment losses | € 42 | € 57 | € 580 |
Thereof: impairments related to self-developed software | 42 | 42 | 60 |
Thereof: impairments of an unamortized trademark | 15 | ||
Thereof: write-off of the Value of business acquired (VOBA) | 515 | ||
Increase of amortizing other intangible assets, net | 171 | 291 | |
Mainly driven by [Abstract] | |||
Positive exchange rate changes | 82 | 113 | 327 |
Additions to internally generated intangible assets | 1,200 | 1,400 | |
Offsetting amortization expenses | 1,100 | 935 | 1,500 |
Thereof: scheduled consumption of capitalized software | € 1,100 | € 897 | 815 |
Reclassification from (to) held for sale in advance of the sale of the investment in Maher Terminals Port Elizabeth | 497 | ||
Thereof: contract-based intangible assets | € 679 |
Parenthetical Information Not_2
Parenthetical Information Note 25 Other Unamortizing Intangible Assets (Detail: Text Values) - EUR (€) € in Millions | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Retail investment management agreements [Abstract] | ||
Assets, related to the Groups U.S. retail mutual fund business, aquired in 2002, calculated at fair value less costs of disposal | € 755 | € 719 |
Discount rates (cost of equity) applied in the calculation in 2017 | 11.00% | |
Discount rates (cost of equity) applied in the calculation in 2018 | 4.00% | |
Terminal value growth rate applied for 2017 is up to | 4.00% | |
Terminal value growth rate applied for 2018 is up to | 38200.00% | |
Trademarks [Abstract] | ||
Postbank trademark, acquired in 2010 | € 410 | |
Postbank trademark, after finalizing the purchase price allocation in 2011 | 27 | |
Postbank trademark, write-off in third quarter 2015 | 6 | |
Sal. Oppenheim trademark, acquired in 2010 | 6 | |
Sal. Oppenheim trademark, write-down in fourth quarter 2015 | 15 | |
Asset Management [Member] | ||
Retail investment management agreements [Abstract] | ||
Assets, related to the Groups U.S. retail mutual fund business, aquired in 2002, calculated at fair value less costs of disposal | € 755 | € 719 |
Discount rates (cost of equity) applied in the calculation in 2017 | 11.00% | |
Discount rates (cost of equity) applied in the calculation in 2018 | 4.00% | |
Terminal value growth rate applied for 2017 is up to | 4.00% | |
WM [Member] | ||
Trademarks [Abstract] | ||
Sal. Oppenheim trademark, acquired in 2010 | € 6 | |
Sal. Oppenheim trademark, write-down in fourth quarter 2015 | 15 | |
Postbank [Member] | ||
Trademarks [Abstract] | ||
Postbank trademark, acquired in 2010 | 410 | |
Postbank trademark, after finalizing the purchase price allocation in 2011 | € 410 |
Parenthetical Information Not_3
Parenthetical Information Note 26 (Detail: Text Values) € in Millions | Dec. 31, 2017EUR (€) |
Corporate & Investment Bank [Member] | |
Disposal of ale of Argentine subsidiary Deutsche Bank S.A. to Banco Comafi S.A. [Abstract] | |
Overall pre-tax loss | € (190) |
Asset Management [Member] | |
Disposal of fund administration and custody business of Sal. Oppenheim Luxembourg | |
Impairment before disposal | € (5) |
Components of Other Non-Current
Components of Other Non-Current Assets and Disposal Groups Held for Sale (Detail) - Components of Other Non-Current Assets and Disposal Groups Held for Sale [Member] - EUR (€) € in Millions | Dec. 31, 2018 | Dec. 31, 2017 |
Other assets [Member] | ||
Components of Other Non-Current Assets and Disposal Groups Held for Sale [Line Items] | ||
Cash, due and deposits with banks, Central bank funds sold and securities purchased under resale agreements | € 8 | € 0 |
Financial assets at fair value through profit or loss | 3 | 0 |
Financial assets available for sale | 0 | 4 |
Loans | 2,564 | 0 |
Property and equipment | 62 | 15 |
Other assets | 42 | 26 |
Assets classified as held for sale | 2,679 | 45 |
Other liabilities [Member] | ||
Components of Other Non-Current Assets and Disposal Groups Held for Sale [Line Items] | ||
Deposits, Central bank funds purchased and securities sold under resale agreements | 874 | 0 |
Financial liabilities at fair value through profit or loss | 4 | 0 |
Long-term debt | 0 | 0 |
Other liabilities | 364 | 16 |
Total liabilities classified as held for sale | € 1,242 | € 16 |
Components of Other Non-Curre_2
Components of Other Non-Current Assets and Disposal Groups Held for Sale (Detail: Text Values) € in Millions | Dec. 31, 2018EUR (€) |
Designated sale of Portuguese Private and Commercial Clients business [Abstract] | |
Valuation resulted in the recognition of a pre-tax loss | € 53 |
Thereof recorded in other income | 40 |
Thereof recorded in general and administrative expense | 13 |
Disposal of Polish Private & Commercial Bank business [Abstract] | |
pre-tax loss | 157 |
Additional net year-to-date pretax charges | € 17 |
Components of Other Assets (Det
Components of Other Assets (Detail) - EUR (€) € in Millions | Dec. 31, 2018 | Dec. 31, 2017 |
Brokerage and securities related receivables [Abstracts] | ||
Cash/margin receivables | € 42,827 | € 46,519 |
Receivables from prime brokerage | 3 | 12,638 |
Pending securities transactions past settlement date | 3,654 | 3,929 |
Receivables from unsettled regular way trades | 20,191 | 19,930 |
Total brokerage and securities related receivables | 66,675 | 83,015 |
Debt securities held to collect | 5,184 | |
Accrued interest receivable | 2,536 | 2,374 |
Assets held for sale | 2,679 | 45 |
Other | 16,371 | 16,057 |
Total other assets | € 93,444 | € 101,491 |
Components of Other Liabilities
Components of Other Liabilities (Detail) - EUR (€) € in Millions | Dec. 31, 2018 | Dec. 31, 2017 |
Brokerage and securities related payables [Abstract] | ||
Cash/margin payables | € 55,475 | € 58,865 |
Payables from prime brokerage | 15,495 | 25,042 |
Pending securities transactions past settlement date | 2,228 | 2,562 |
Payables from unsettled regular way trades | 17,510 | 20,274 |
Total brokerage and securities related payables | 90,708 | 106,742 |
Accrued interest payable | 2,486 | 2,623 |
Liabilities held for sale | 1,242 | 16 |
Other | 23,078 | 22,827 |
Total other liabilities | € 117,513 | € 132,208 |
Components of Deposits (Detail)
Components of Deposits (Detail) - EUR (€) € in Millions | Dec. 31, 2018 | Dec. 31, 2017 |
Components of Deposits [Line Items] | ||
Noninterest-bearing demand deposits | € 221,746 | € 226,339 |
Interest-bearing deposits [Abstract] | ||
Demand deposits | 126,280 | 133,280 |
Time deposits | 130,039 | 133,952 |
Savings deposits | 86,340 | 88,303 |
Total interest-bearing deposits | 342,659 | 355,534 |
Total deposits | € 564,405 | € 581,873 |
Movements by Class of Provision
Movements by Class of Provision (Detail) - EUR (€) € in Millions | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | ||
Operational Risk [Member] | |||
Movements by Class of Provision [Line Items] | |||
Balance as of, start period | € 275 | € 309 | |
Changes in the group of consolidated companies | 0 | 0 | |
New provisions | 27 | 84 | |
Amounts used | 54 | 53 | |
Unused amounts reversed | 41 | 49 | |
Effects from exchange rate fluctuations/ Unwind of discount | 5 | (15) | |
Transfers | 2 | (2) | |
Balance as of, end period | 215 | 275 | |
Civil Litigations [Member] | |||
Movements by Class of Provision [Line Items] | |||
Balance as of, start period | 1,115 | 2,014 | |
Changes in the group of consolidated companies | 0 | (5) | |
New provisions | 334 | 745 | |
Amounts used | 673 | 1,611 | |
Unused amounts reversed | 160 | 134 | |
Effects from exchange rate fluctuations/ Unwind of discount | 42 | (86) | |
Transfers | 25 | 193 | |
Balance as of, end period | 684 | 1,115 | |
Regulatory Enforcement [Member] | |||
Movements by Class of Provision [Line Items] | |||
Balance as of, start period | 897 | 5,607 | |
Changes in the group of consolidated companies | 0 | 0 | |
New provisions | 125 | 306 | |
Amounts used | 364 | 3,576 | |
Unused amounts reversed | 206 | 711 | |
Effects from exchange rate fluctuations/ Unwind of discount | 41 | (575) | |
Transfers | 6 | (153) | |
Balance as of, end period | 499 | 897 | |
Restructuring [Member] | |||
Movements by Class of Provision [Line Items] | |||
Balance as of, start period | 696 | 741 | |
Changes in the group of consolidated companies | 1 | (1) | |
New provisions | 427 | 601 | |
Amounts used | 344 | 458 | |
Unused amounts reversed | 185 | 182 | |
Effects from exchange rate fluctuations/ Unwind of discount | (1) | (4) | |
Transfers | (9) | 0 | |
Balance as of, end period | 585 | 696 | |
Other [Member] | |||
Movements by Class of Provision [Line Items] | |||
Balance as of, start period | [1] | 889 | 952 |
Changes in the group of consolidated companies | [1] | (2) | 5 |
New provisions | [1] | 765 | 847 |
Amounts used | [1] | 862 | 763 |
Unused amounts reversed | [1] | 364 | 118 |
Effects from exchange rate fluctuations/ Unwind of discount | [1] | (1) | (38) |
Transfers | [1] | 9 | 3 |
Balance as of, end period | [1] | 433 | 889 |
Total [Member] | |||
Movements by Class of Provision [Line Items] | |||
Balance as of, start period | [2] | 3,873 | 9,622 |
Changes in the group of consolidated companies | [2] | (2) | (1) |
New provisions | [2] | 1,677 | 2,584 |
Amounts used | [2] | 2,296 | 6,461 |
Unused amounts reversed | [2] | 956 | 1,194 |
Effects from exchange rate fluctuations/ Unwind of discount | [2] | 87 | (718) |
Transfers | [2] | 33 | 41 |
Balance as of, end period | [2] | € 2,416 | € 3,873 |
[1] | Figures have been restated to reflect the reclassification of EUR1.0billion and EUR1.1billion from Provisions to Deposits in the Groups Consolidated Balance Sheet as of January1, 2017 and January1, 2018, respectively. See Note1 Significant Accounting Policies and Critical Accounting Estimates for more details on the change in accounting policy impacting Home Savings Contracts. | ||
[2] | For the remaining portion of provisions as disclosed on the consolidated balance sheet, please see Note21 Allowance for Credit Losses, in which allowances for credit related off-balance sheet positions are disclosed. |
Parenthetical Information Not_4
Parenthetical Information Note 29 Provisions (Detail: Text Values) | 12 Months Ended | |||||||
Dec. 31, 2018EUR (€)€ / sharesshares | Dec. 31, 2018USD ($)shares | Dec. 31, 2018GBP (£)shares | Dec. 31, 2017EUR (€) | Dec. 31, 2017USD ($) | Dec. 31, 2017CHF (SFr) | Dec. 31, 2017BRL (R$) | Dec. 31, 2018USD ($)shares | |
Estimated aggregated future loss (more than remote but less than probable) [Abstract] | ||||||||
Civil Litigation matters | € | € 2,493,000,000 | € 2,400,000,000 | ||||||
Regulatory enfocement matters | € | 174,000,000 | 300,000,000 | ||||||
FX Investigations & Litigations [Abstract] | ||||||||
DB Brazil Settlement on 7th Dec 2016 in BRL | R$ | R$ 51000000 | |||||||
Civil monetary penalty agreement (Board of Governors of the Federal Reserve System) in U.S. D | $ 137,000,000 | |||||||
Civil monetary penalty agreement (New York State Department of Financial Services) in U.S. D | $ 205,000,000 | |||||||
Final order approval of a settlement related to manipulated benchmark- and spot rates in U.S. D | 190,000,000 | |||||||
Interbank Offered Rates Matters [Abstract] | ||||||||
Payment to European Commission in relation to anticompetitive conduct in the trading od interest rate derivatives (as reported in 2013) in EUR | € | € 725,000,000 | |||||||
DB agreement to pay for misconduct concerning to LIBOR settlement to DOJ & CFTC (as reported in 2015) in U.S. D | 2,175,000,000 | |||||||
DB agreement to pay for misconduct concerning to LIBOR settlement to FCA (as reported in 2015) in GBP | £ | £ 226,800,000 | |||||||
Fine payment by DB Group Services (UK) Ltd. in U.S. D | $ 150,000,000 | |||||||
Fine payment to Swiss Competition Commission (WEKO) pursuant to a settlement agreement in relation to Yen LIBOR in CHF | SFr | SFr 5,400,000 | |||||||
Payment of settlement with US State attornys investigation in interbank offered rates in U.S. D | 220,000,000 | |||||||
Settlement agreement on July 13, 2017 as part of the U.S. dollar LIBOR MDL asserting claims based on alleged transactions in Eurodollar futures and options in U.S. D | 80,000,000 | |||||||
Payment of settlement agreement on Feb 13, 2018 as part of the U.S. dollar LIBOR MDL asserting claims based on on alleged transactions in U.S. dollar LIBOR-linked financial instruments in U.S. D | 240,000,000 | |||||||
Payment for alleging manipulation of Yen LIBOR and Euroyen TIBOR pending in the SDNY in U.S. D | 77,000,000 | |||||||
Payment for alleging manipulation of EURIBOR pending in the SDNY in U.S. D | 170,000,000 | |||||||
Mortgage-Related and Asset-Backed Securities Matters and Investigation [Abstract] | ||||||||
Payment of a civil monetary penalty for RMBS claims from 2005 to 2007 (settlement with DOJ) in U.S. D | 3,100,000,000 | |||||||
Agreed consumer releif for RMBS claims from 2005 to 2007 (settlement with DOJ) in U.S. D | 4,100,000,000 | |||||||
Settlement with Maryland Attorney General of payment for RMBS and CDO businesses from 2002 to 2009 in U.S. D mn. | 15,000,000 | |||||||
Agreed consumer relief settlement with Maryland Attorney General (to be allocated from the overall U.S.D 4.1 billion consumer relief obligation agreed to as part of Deutsche Banks settlement with the DOJ) in U.S. D | $ 80,000,000 | |||||||
Postbank Voluntary Public Takeover Offer [Abstract] | ||||||||
Takeover offer for Postbank shareholder in EUR per share | € / shares | € 25 | |||||||
Total number of shares accepted in takeover in shares | shares | 48,200,000 | 48,200,000 | ||||||
Claim (raised in 2010 by Effecten-Spiegel AG) for raising the takeover share price offer to EUR per share | € / shares | € 57.25 | |||||||
Claim (raised in 2014 by additional former shareholders of Postbank) for raising the takeover share price offer in EUR per share | € / shares | 57.25 | |||||||
Increase of takeover share price offer to shareholders which have accepted the takeover in EUR per share | € / shares | 32.25 | |||||||
Additional claims (raised in 2017) for raising the takeover share price offer to EUR per share | € / shares | € 64.25 | |||||||
Total payment claims against Deutsche Bank in relation to Postbank takeover (excluding interest) | € | € 700,000,000 | |||||||
Further Proceedings Relating to the Postbank Takeover [Abstract] | ||||||||
Postbank's cash compensation with respect to P&L transfer agreement in EUR per share | € / shares | € 25.18 | |||||||
Acceptance of Postbank's cash compensation with respect to P&L transfer agreement in shares | shares | 500,000 | 500,000 | 500,000 | |||||
Squeeze out compensation in EUR per share | € / shares | € 35.05 | |||||||
Number of shares squeezed-out in shares | shares | 7,000,000 | 7,000,000 | 7,000,000 | |||||
Investigations into the Banks anti-money laundering (AML) control function in its investment banking division [Abstract] | ||||||||
Settlement agreement with DFS to pay civil monetary penalties in U.S. D | $ 425,000,000 | |||||||
Settlement agreement with FCA to pay civil monetary penalties in GBP | £ | £ 163,000,000 | |||||||
Payment of penalty for AML issues identified by the Federal Reserve in U.S. D | $ 41,000,000 | |||||||
Sovereign, Supranational and Agency Bonds (SSA) Investigations and Litigations [Abstract] | ||||||||
Agreement with U.S. District Court for the Southern District of New York to settle the actions (alleging violations of U.S. antitrust law and common law related to alleged manipulation of the secondary trading market for SSA bonds) in U.S. D | $ 48,500,000 | |||||||
Other Provisions [Abstract] | ||||||||
Restatedment to reflect the reclassification from Provisions to Deposits in the Groups Consolidated Balance Sheet | € | € 1,000,000,000 | € 1,100,000,000 |
Commitments and Contingent Liab
Commitments and Contingent Liabilities (Detail) - EUR (€) € in Millions | Dec. 31, 2018 | Dec. 31, 2017 |
Commitments and Contingent Liabilities [Line Items] | ||
Irrevocable lending commitments | € 167,722 | € 158,253 |
Revocable lending commitments | 44,327 | 45,867 |
Contingent liabilities | 51,605 | 48,212 |
Total | € 263,654 | € 252,331 |
Commitments and Contingent Li_2
Commitments and Contingent Liabilities (Detail: Text Values) - EUR (€) € in Millions | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Commitments and Contingent Liabilities [Abstract] | ||
Irrevocable payment commitments related to bank levy | € 595 | € 412 |
Other Commitments and Contingen
Other Commitments and Contingent Liabilities (Detail) - EUR (€) € in Millions | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Other Commitments and Contingent Liabilities [Abstract] | ||
Other commitments | € 130 | € 82 |
Other contingent liabilities | 74 | 5 |
Total | € 204 | € 86 |
Components of Other Short-Term
Components of Other Short-Term Borrowings (Detail) - EUR (€) € in Millions | Dec. 31, 2018 | Dec. 31, 2017 |
Other short-term borrowings [Abstract] | ||
Commercial paper | € 2,752 | € 5,274 |
Other | 11,406 | 13,137 |
Total other short-term borrowings | € 14,158 | € 18,411 |
Long-Term Debt by Contractual M
Long-Term Debt by Contractual Maturity (Detail) - EUR (€) € in Millions | Dec. 31, 2018 | Dec. 31, 2017 |
Total [Domain Member] | Debt Seniority [Domain Member] | ||
By remaining maturities [Abstract] | ||
Other Long-Term Debt by Contractual Maturity | € 36,977 | € 42,988 |
Long-term debt | 152,083 | 159,715 |
Total [Domain Member] | Senior debt, Bonds and notes [Member] | ||
By remaining maturities [Abstract] | ||
Fixed rate | 77,894 | 76,285 |
Floating rate | 30,495 | 33,210 |
Total [Domain Member] | Subordinated debt, Bonds and notes [Member] | ||
By remaining maturities [Abstract] | ||
Fixed rate | 5,297 | 5,493 |
Floating rate | 1,420 | € 1,738 |
Due in 2019 [Member] | Debt Seniority [Domain Member] | ||
By remaining maturities [Abstract] | ||
Other Long-Term Debt by Contractual Maturity | 20,958 | |
Long-term debt | 47,317 | |
Due in 2019 [Member] | Senior debt, Bonds and notes [Member] | ||
By remaining maturities [Abstract] | ||
Fixed rate | 16,275 | |
Floating rate | 8,002 | |
Due in 2019 [Member] | Subordinated debt, Bonds and notes [Member] | ||
By remaining maturities [Abstract] | ||
Fixed rate | 2,057 | |
Floating rate | 24 | |
Due in 2020 [Member] | Debt Seniority [Domain Member] | ||
By remaining maturities [Abstract] | ||
Other Long-Term Debt by Contractual Maturity | 6,263 | |
Long-term debt | 22,627 | |
Due in 2020 [Member] | Senior debt, Bonds and notes [Member] | ||
By remaining maturities [Abstract] | ||
Fixed rate | 10,510 | |
Floating rate | 4,540 | |
Due in 2020 [Member] | Subordinated debt, Bonds and notes [Member] | ||
By remaining maturities [Abstract] | ||
Fixed rate | 1,135 | |
Floating rate | 180 | |
Due in 2021 [Member] | Debt Seniority [Domain Member] | ||
By remaining maturities [Abstract] | ||
Other Long-Term Debt by Contractual Maturity | 1,335 | |
Long-term debt | 25,164 | |
Due in 2021 [Member] | Senior debt, Bonds and notes [Member] | ||
By remaining maturities [Abstract] | ||
Fixed rate | 18,483 | |
Floating rate | 5,347 | |
Due in 2021 [Member] | Subordinated debt, Bonds and notes [Member] | ||
By remaining maturities [Abstract] | ||
Fixed rate | 0 | |
Floating rate | 0 | |
Due in 2022 [Member] | Debt Seniority [Domain Member] | ||
By remaining maturities [Abstract] | ||
Other Long-Term Debt by Contractual Maturity | 557 | |
Long-term debt | 11,060 | |
Due in 2022 [Member] | Senior debt, Bonds and notes [Member] | ||
By remaining maturities [Abstract] | ||
Fixed rate | 6,949 | |
Floating rate | 3,553 | |
Due in 2022 [Member] | Subordinated debt, Bonds and notes [Member] | ||
By remaining maturities [Abstract] | ||
Fixed rate | 0 | |
Floating rate | 0 | |
Due in 2023 [Member] | Debt Seniority [Domain Member] | ||
By remaining maturities [Abstract] | ||
Other Long-Term Debt by Contractual Maturity | 1,087 | |
Long-term debt | 11,538 | |
Due in 2023 [Member] | Senior debt, Bonds and notes [Member] | ||
By remaining maturities [Abstract] | ||
Fixed rate | 6,898 | |
Floating rate | 2,321 | |
Due in 2023 [Member] | Subordinated debt, Bonds and notes [Member] | ||
By remaining maturities [Abstract] | ||
Fixed rate | 30 | |
Floating rate | 1,202 | |
Due after 2023 [Member] | Debt Seniority [Domain Member] | ||
By remaining maturities [Abstract] | ||
Other Long-Term Debt by Contractual Maturity | 6,777 | |
Long-term debt | 34,377 | |
Due after 2023 [Member] | Senior debt, Bonds and notes [Member] | ||
By remaining maturities [Abstract] | ||
Fixed rate | 18,779 | |
Floating rate | 6,732 | |
Due after 2023 [Member] | Subordinated debt, Bonds and notes [Member] | ||
By remaining maturities [Abstract] | ||
Fixed rate | 2,075 | |
Floating rate | € 14 |
Fixed and Floating Rate Trust P
Fixed and Floating Rate Trust Preferred Securities (Detail) - EUR (€) € in Millions | Dec. 31, 2018 | Dec. 31, 2017 | |
Fixed and Floating Rate Trust Preferred Securities [Abstract] | |||
Fixed rate | [1] | € 2,194 | € 4,462 |
Floating rate | [1] | 975 | 1,030 |
Total trust preferred securities | [1] | € 3,168 | € 5,491 |
[1] | Perpetual instruments, redeemable at specific future dates at the Groups option. |
Maturity Analysis of Financia_2
Maturity Analysis of Financial Liabilities (IFRS) (Detail) - EUR (€) € in Millions | Dec. 31, 2018 | Dec. 31, 2017 | |
On demand [Member] | |||
Maturity Analysis of Financial Liabilities (IFRS) [Line Items] | |||
Noninterest bearing deposits | € 221,746 | € 226,339 | |
Interest-bearing deposits | 126,416 | 133,378 | |
Trading liabilities | [1] | 59,922 | 71,457 |
Negative market values from derivative financial instruments | [1] | 301,487 | 342,726 |
Financial liabilities designated at fair value through profit or loss | 16,438 | 29,207 | |
Investment contract liabilities | [2] | 0 | 0 |
Negative market values from derivative financial instruments qualifying for hedge accounting | [3] | 0 | 0 |
Central bank funds purchased | 252 | 174 | |
Securities sold under repurchase agreements, Financial Liabilities | 3,151 | 14,152 | |
Securities loaned | 3,358 | 6,684 | |
Other short-term borrowings | 11,067 | 11,859 | |
Long-term debt | 3 | 4 | |
Trust preferred securities | 0 | 0 | |
Other financial liabilities | 96,573 | 112,961 | |
Off-balance sheet loan commitments | 167,722 | 153,700 | |
Financial guarantees | 22,502 | 19,883 | |
Total | [4] | 1,030,639 | 1,122,525 |
Due within 3 months [Member] | |||
Maturity Analysis of Financial Liabilities (IFRS) [Line Items] | |||
Noninterest bearing deposits | 0 | 0 | |
Interest-bearing deposits | 137,089 | 146,204 | |
Trading liabilities | [1] | 0 | 0 |
Negative market values from derivative financial instruments | [1] | 0 | 0 |
Financial liabilities designated at fair value through profit or loss | 25,838 | 29,360 | |
Investment contract liabilities | [2] | 0 | 0 |
Negative market values from derivative financial instruments qualifying for hedge accounting | [3] | 609 | 69 |
Central bank funds purchased | 0 | 83 | |
Securities sold under repurchase agreements, Financial Liabilities | 963 | 2,525 | |
Securities loaned | 3 | 3 | |
Other short-term borrowings | 2,258 | 2,326 | |
Long-term debt | 34,449 | 7,409 | |
Trust preferred securities | 36 | 1,710 | |
Other financial liabilities | 2,762 | 3,483 | |
Off-balance sheet loan commitments | 0 | 0 | |
Financial guarantees | 0 | 0 | |
Total | [4] | 204,008 | 193,172 |
Due between 3 and 12 months [Member] | |||
Maturity Analysis of Financial Liabilities (IFRS) [Line Items] | |||
Noninterest bearing deposits | 0 | 0 | |
Interest-bearing deposits | 47,258 | 45,816 | |
Trading liabilities | [1] | 0 | 0 |
Negative market values from derivative financial instruments | [1] | 0 | 0 |
Financial liabilities designated at fair value through profit or loss | 7,895 | 4,847 | |
Investment contract liabilities | [2] | 512 | 574 |
Negative market values from derivative financial instruments qualifying for hedge accounting | [3] | 502 | 336 |
Central bank funds purchased | 0 | 0 | |
Securities sold under repurchase agreements, Financial Liabilities | 508 | 1,348 | |
Securities loaned | 0 | 0 | |
Other short-term borrowings | 1,622 | 3,600 | |
Long-term debt | 16,268 | 41,820 | |
Trust preferred securities | 3,306 | 3,328 | |
Other financial liabilities | 1,201 | 554 | |
Off-balance sheet loan commitments | 0 | 0 | |
Financial guarantees | 0 | 0 | |
Total | [4] | 79,073 | 102,223 |
Due between 1 and 5 years [Member] | |||
Maturity Analysis of Financial Liabilities (IFRS) [Line Items] | |||
Noninterest bearing deposits | 0 | 0 | |
Interest-bearing deposits | 21,683 | 19,194 | |
Trading liabilities | [1] | 0 | 0 |
Negative market values from derivative financial instruments | [1] | 0 | 0 |
Financial liabilities designated at fair value through profit or loss | 2,760 | 2,599 | |
Investment contract liabilities | [2] | 0 | 0 |
Negative market values from derivative financial instruments qualifying for hedge accounting | [3] | 505 | 672 |
Central bank funds purchased | 0 | 0 | |
Securities sold under repurchase agreements, Financial Liabilities | 1 | 491 | |
Securities loaned | 0 | 0 | |
Other short-term borrowings | 0 | 0 | |
Long-term debt | 80,028 | 78,063 | |
Trust preferred securities | 0 | 688 | |
Other financial liabilities | 369 | 373 | |
Off-balance sheet loan commitments | 0 | 0 | |
Financial guarantees | 0 | 0 | |
Total | [4] | 105,346 | 102,080 |
Due after 5 years [Member] | |||
Maturity Analysis of Financial Liabilities (IFRS) [Line Items] | |||
Noninterest bearing deposits | 0 | 0 | |
Interest-bearing deposits | 12,059 | 12,510 | |
Trading liabilities | [1] | 0 | 0 |
Negative market values from derivative financial instruments | [1] | 0 | 0 |
Financial liabilities designated at fair value through profit or loss | 5,724 | 5,951 | |
Investment contract liabilities | [2] | 0 | 0 |
Negative market values from derivative financial instruments qualifying for hedge accounting | [3] | 306 | 218 |
Central bank funds purchased | 0 | 0 | |
Securities sold under repurchase agreements, Financial Liabilities | 0 | 23 | |
Securities loaned | 0 | 1 | |
Other short-term borrowings | 0 | 0 | |
Long-term debt | 36,085 | 41,926 | |
Trust preferred securities | 0 | 0 | |
Other financial liabilities | 60 | 4 | |
Off-balance sheet loan commitments | 0 | 0 | |
Financial guarantees | 0 | 0 | |
Total | [4] | € 54,234 | € 60,632 |
[1] | Trading liabilities and derivatives not qualifying for hedge accounting balances are recorded at fair value. The Group believes that this best represents the cash flow that would have to be paid if these positions had to be closed out. Trading liabilities and derivatives not qualifying for hedge accounting balances are shown within on demand which Groups management believes most accurately reflects the short-term nature of trading activities. The contractual maturity of the instruments may however extend over significantly longer periods. | ||
[2] | These are investment contracts where the policy terms and conditions result in their redemption value equaling fair value. | ||
[3] | Derivatives designated for hedge accounting are recorded at fair value and are shown in the time bucket at which the hedged relationship is expected to terminate. | ||
[4] | The balances in the table do not agree to the numbers in the Groups balance sheet as the cash flows included in the table are undiscounted. This analysis represents the worst case scenario for the Group if the Group was required to repay all liabilities earlier than expected. The Group believes that the likelihood of such an event occurring is remote. |
Common Shares (Detail)
Common Shares (Detail) | 12 Months Ended | |
Dec. 31, 2018EUR (€)shares | Dec. 31, 2017EUR (€)shares | |
Issued and fully paid [Member] | ||
Number of shares [line items] | ||
Common shares, beginning balance | 2,066,773,131 | 1,379,273,131 |
Shares issued under share-based compensation plans | € | 0 | 0 |
Capital increase | 0 | 687,500,000 |
Shares purchased for treasury | 0 | 0 |
Shares sold or distributed from treasury | 0 | 0 |
Common shares, ending balance | 2,066,773,131 | 2,066,773,131 |
Treasury shares [Member] | ||
Number of shares [line items] | ||
Common shares, beginning balance | (371,090) | (203,442) |
Shares issued under share-based compensation plans | € | 0 | 0 |
Capital increase | 0 | 0 |
Shares purchased for treasury | (372,179,750) | (490,690,358) |
Shares sold or distributed from treasury | 371,206,696 | 490,522,710 |
Common shares, ending balance | (1,344,144) | (371,090) |
Outstanding [Member] | ||
Number of shares [line items] | ||
Common shares, beginning balance | 2,066,402,041 | 1,379,069,689 |
Shares issued under share-based compensation plans | € | 0 | 0 |
Capital increase | 0 | 687,500,000 |
Shares purchased for treasury | (372,179,750) | (490,690,358) |
Shares sold or distributed from treasury | 371,206,696 | 490,522,710 |
Common shares, ending balance | 2,065,428,987 | 2,066,402,041 |
Dividends (Detail)
Dividends (Detail) - EUR (€) | 12 Months Ended | |||||
Dec. 31, 2018 | [1],[2] | Dec. 31, 2017 | [3] | Dec. 31, 2016 | [3],[4] | |
Dividends | ||||||
Cash dividends declared | € 227,000,000 | € 227,000,000 | € 227,000,000 | |||
Cash dividends declared per common share (in EUR per share) | € 0.11 | € 0.11 | € 0.11 | |||
[1] | Cash dividend for 2017 is based on the number of shares issued as of December31,2017. | |||||
[2] | Cash dividends for 2018 is based on the number of shares issued as of December31,2018. | |||||
[3] | Dividends for 2016 and 2015 were approved by the annual general meeting in 2017 and were paid simultaneously in 2017. | |||||
[4] | Dividends for 2016 and 2015 were approved by the annual general meeting in 2017 and were paid simultaneously in 2017. |
Parenthetical Information Not_5
Parenthetical Information Note 34 (Detail: Text Values) | Dec. 31, 2018EUR (€)€ / shares |
Parenthetical Information Note 34 | |
Nominal value of each share derived by dividing the total amount of share capital by the number of shares | € / shares | € 2.56 |
Authorized capital available to the Management Board | € 2,560,000,000 |
Authorized capital to increase share capital by issuing new share for cash and noncash | 512,000,000 |
Authorized capital to increase share capital by issuing new share for cash | 2,048,000,000 |
Conditional Capital with expiration date for the issuance of conversion and/or option rights by April 30, 2017 | 512,000,000 |
Conditional Capital with expiration date for the issuance of conversion and/or option rights by April 30, 2019 | € 51,200,000 |
Employee Benefits - Activity fo
Employee Benefits - Activity for Share Plans (Detail) - EUR (€) | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 |
Share units (in thousands) [Member] | |||
Activity for Share Plans [line items] | |||
Balance as of | € 153,117 | € 137,541 | € 90,292 |
Weighted-average grant date fair value per unit [Member] | |||
Activity for Share Plans [line items] | |||
Balance as of | € 11.15 | € 14.78 | € 20.22 |
Employee Benefits - DWS Share b
Employee Benefits - DWS Share based Plans (Detail) | Dec. 31, 2018EUR (€) |
PSU [Member] | Grant date 15 September 2018 [Member] | |
DWS Share based Plans [Line Items] | |
Units | € 1,272 |
Fair value | 14.56 |
Share price | 23.75 |
Exercise price | |
Expected volatility (weighted-average, in percent) | 36.00% |
Expected life (weighted-average, in years) | 5 |
Expected dividends (in percent of income) | 65.00% |
Risk-free interest rate (based on government funds, in percent) | 0.00% |
PSU [Member] | Measurement date 31 December 2018 [Member] | |
DWS Share based Plans [Line Items] | |
Units | € 1,248 |
Fair value | 14.18 |
Share price | 23.37 |
Exercise price | |
Expected volatility (weighted-average, in percent) | 35.00% |
Expected life (weighted-average, in years) | 4.7 |
Expected dividends (in percent of income) | 65.00% |
Risk-free interest rate (based on government funds, in percent) | 0.00% |
SAR [Member] | Grant date 15 September 2018 [Member] | |
DWS Share based Plans [Line Items] | |
Units | € 2,224 |
Fair value | 3.95 |
Share price | 23.75 |
Exercise price | € 25 |
Expected volatility (weighted-average, in percent) | 36.00% |
Expected life (weighted-average, in years) | 6.3 |
Expected dividends (in percent of income) | 65.00% |
Risk-free interest rate (based on government funds, in percent) | 0.00% |
SAR [Member] | Measurement date 31 December 2018 [Member] | |
DWS Share based Plans [Line Items] | |
Units | € 2,192 |
Fair value | 3.35 |
Share price | 23.37 |
Exercise price | € 25 |
Expected volatility (weighted-average, in percent) | 35.00% |
Expected life (weighted-average, in years) | 6 |
Expected dividends (in percent of income) | 65.00% |
Risk-free interest rate (based on government funds, in percent) | 0.00% |
Post-employment Benefit Plans -
Post-employment Benefit Plans - Breakdown of Benefit Obligation (Detail) - EUR (€) € in Millions | Dec. 31, 2018 | Dec. 31, 2017 |
Total countries [Domain Member] | ||
Defined benefit obligation related to | ||
Active plan participants | € 6,152 | € 6,514 |
Participants in deferred status | 5,093 | 5,408 |
Participants in payment status | 6,875 | 6,724 |
Defined benefit obligation | 18,120 | 18,646 |
Fair value of plan assets | € 17,727 | € 18,211 |
Funding ratio (in %) | 97.80% | 97.70% |
Germany [Member] | ||
Defined benefit obligation related to | ||
Active plan participants | € 4,599 | € 4,823 |
Participants in deferred status | 2,210 | 2,196 |
Participants in payment status | 5,144 | 5,071 |
Defined benefit obligation | 11,953 | 12,090 |
Fair value of plan assets | € 10,877 | € 11,003 |
Funding ratio (in %) | 91.00% | 91.00% |
UK [Member] | ||
Defined benefit obligation related to | ||
Active plan participants | € 593 | € 688 |
Participants in deferred status | 2,286 | 2,583 |
Participants in payment status | 989 | 905 |
Defined benefit obligation | 3,868 | 4,176 |
Fair value of plan assets | € 4,884 | € 5,202 |
Funding ratio (in %) | 126.30% | 124.60% |
US [Member] | ||
Defined benefit obligation related to | ||
Active plan participants | € 337 | € 363 |
Participants in deferred status | 500 | 536 |
Participants in payment status | 500 | 502 |
Defined benefit obligation | 1,337 | 1,401 |
Fair value of plan assets | € 1,074 | € 1,091 |
Funding ratio (in %) | 80.30% | 77.90% |
Other [Member] | ||
Defined benefit obligation related to | ||
Active plan participants | € 623 | € 640 |
Participants in deferred status | 97 | 93 |
Participants in payment status | 242 | 246 |
Defined benefit obligation | 962 | 979 |
Fair value of plan assets | € 892 | € 915 |
Funding ratio (in %) | 92.70% | 93.50% |
Employee Benefits - Benefits Ex
Employee Benefits - Benefits Expected to be paid by the Retirement Benefit Plans (Impact on Cashflows) (Detail) | 12 Months Ended |
Dec. 31, 2018EUR (€) | |
Benefits Expected to be paid by the Retirement Benefit Plans (Impact on Cashflows) [Domain Member] | Total countries [Domain Member] | |
Benefits Expected to be paid by the Retirement Benefit Plans (Impact on Cashflows) [Line Items] | |
Weighted average duration of defined benefit obligation (in years) | 15 |
Benefits Expected to be paid by the Retirement Benefit Plans (Impact on Cashflows) [Domain Member] | Germany [Member] | |
Benefits Expected to be paid by the Retirement Benefit Plans (Impact on Cashflows) [Line Items] | |
Weighted average duration of defined benefit obligation (in years) | 14 |
Benefits Expected to be paid by the Retirement Benefit Plans (Impact on Cashflows) [Domain Member] | UK [Member] | |
Benefits Expected to be paid by the Retirement Benefit Plans (Impact on Cashflows) [Line Items] | |
Weighted average duration of defined benefit obligation (in years) | 22 |
Benefits Expected to be paid by the Retirement Benefit Plans (Impact on Cashflows) [Domain Member] | US [Member] | |
Benefits Expected to be paid by the Retirement Benefit Plans (Impact on Cashflows) [Line Items] | |
Weighted average duration of defined benefit obligation (in years) | 11 |
Benefits Expected to be paid by the Retirement Benefit Plans (Impact on Cashflows) [Domain Member] | Other [Member] | |
Benefits Expected to be paid by the Retirement Benefit Plans (Impact on Cashflows) [Line Items] | |
Weighted average duration of defined benefit obligation (in years) | 12 |
Actual benefit payments 2018 | Total countries [Domain Member] | |
Benefits Expected to be paid by the Retirement Benefit Plans (Impact on Cashflows) [Line Items] | |
Benefits Expected to be paid by the Retirement Benefit Plans | € 803,000,000 |
Actual benefit payments 2018 | Germany [Member] | |
Benefits Expected to be paid by the Retirement Benefit Plans (Impact on Cashflows) [Line Items] | |
Benefits Expected to be paid by the Retirement Benefit Plans | 437,000,000 |
Actual benefit payments 2018 | UK [Member] | |
Benefits Expected to be paid by the Retirement Benefit Plans (Impact on Cashflows) [Line Items] | |
Benefits Expected to be paid by the Retirement Benefit Plans | 176,000,000 |
Actual benefit payments 2018 | US [Member] | |
Benefits Expected to be paid by the Retirement Benefit Plans (Impact on Cashflows) [Line Items] | |
Benefits Expected to be paid by the Retirement Benefit Plans | 114,000,000 |
Actual benefit payments 2018 | Other [Member] | |
Benefits Expected to be paid by the Retirement Benefit Plans (Impact on Cashflows) [Line Items] | |
Benefits Expected to be paid by the Retirement Benefit Plans | 76,000,000 |
Benefits expected to be paid 2019 | Total countries [Domain Member] | |
Benefits Expected to be paid by the Retirement Benefit Plans (Impact on Cashflows) [Line Items] | |
Benefits Expected to be paid by the Retirement Benefit Plans | 701,000,000 |
Benefits expected to be paid 2019 | Germany [Member] | |
Benefits Expected to be paid by the Retirement Benefit Plans (Impact on Cashflows) [Line Items] | |
Benefits Expected to be paid by the Retirement Benefit Plans | 439,000,000 |
Benefits expected to be paid 2019 | UK [Member] | |
Benefits Expected to be paid by the Retirement Benefit Plans (Impact on Cashflows) [Line Items] | |
Benefits Expected to be paid by the Retirement Benefit Plans | 115,000,000 |
Benefits expected to be paid 2019 | US [Member] | |
Benefits Expected to be paid by the Retirement Benefit Plans (Impact on Cashflows) [Line Items] | |
Benefits Expected to be paid by the Retirement Benefit Plans | 81,000,000 |
Benefits expected to be paid 2019 | Other [Member] | |
Benefits Expected to be paid by the Retirement Benefit Plans (Impact on Cashflows) [Line Items] | |
Benefits Expected to be paid by the Retirement Benefit Plans | 66,000,000 |
Benefits expected to be paid 2020 | Total countries [Domain Member] | |
Benefits Expected to be paid by the Retirement Benefit Plans (Impact on Cashflows) [Line Items] | |
Benefits Expected to be paid by the Retirement Benefit Plans | 675,000,000 |
Benefits expected to be paid 2020 | Germany [Member] | |
Benefits Expected to be paid by the Retirement Benefit Plans (Impact on Cashflows) [Line Items] | |
Benefits Expected to be paid by the Retirement Benefit Plans | 448,000,000 |
Benefits expected to be paid 2020 | UK [Member] | |
Benefits Expected to be paid by the Retirement Benefit Plans (Impact on Cashflows) [Line Items] | |
Benefits Expected to be paid by the Retirement Benefit Plans | 92,000,000 |
Benefits expected to be paid 2020 | US [Member] | |
Benefits Expected to be paid by the Retirement Benefit Plans (Impact on Cashflows) [Line Items] | |
Benefits Expected to be paid by the Retirement Benefit Plans | 76,000,000 |
Benefits expected to be paid 2020 | Other [Member] | |
Benefits Expected to be paid by the Retirement Benefit Plans (Impact on Cashflows) [Line Items] | |
Benefits Expected to be paid by the Retirement Benefit Plans | 59,000,000 |
Benefits expected to be paid 2021 | Total countries [Domain Member] | |
Benefits Expected to be paid by the Retirement Benefit Plans (Impact on Cashflows) [Line Items] | |
Benefits Expected to be paid by the Retirement Benefit Plans | 699,000,000 |
Benefits expected to be paid 2021 | Germany [Member] | |
Benefits Expected to be paid by the Retirement Benefit Plans (Impact on Cashflows) [Line Items] | |
Benefits Expected to be paid by the Retirement Benefit Plans | 460,000,000 |
Benefits expected to be paid 2021 | UK [Member] | |
Benefits Expected to be paid by the Retirement Benefit Plans (Impact on Cashflows) [Line Items] | |
Benefits Expected to be paid by the Retirement Benefit Plans | 98,000,000 |
Benefits expected to be paid 2021 | US [Member] | |
Benefits Expected to be paid by the Retirement Benefit Plans (Impact on Cashflows) [Line Items] | |
Benefits Expected to be paid by the Retirement Benefit Plans | 82,000,000 |
Benefits expected to be paid 2021 | Other [Member] | |
Benefits Expected to be paid by the Retirement Benefit Plans (Impact on Cashflows) [Line Items] | |
Benefits Expected to be paid by the Retirement Benefit Plans | 59,000,000 |
Benefits expected to be paid 2022 | Total countries [Domain Member] | |
Benefits Expected to be paid by the Retirement Benefit Plans (Impact on Cashflows) [Line Items] | |
Benefits Expected to be paid by the Retirement Benefit Plans | 729,000,000 |
Benefits expected to be paid 2022 | Germany [Member] | |
Benefits Expected to be paid by the Retirement Benefit Plans (Impact on Cashflows) [Line Items] | |
Benefits Expected to be paid by the Retirement Benefit Plans | 480,000,000 |
Benefits expected to be paid 2022 | UK [Member] | |
Benefits Expected to be paid by the Retirement Benefit Plans (Impact on Cashflows) [Line Items] | |
Benefits Expected to be paid by the Retirement Benefit Plans | 106,000,000 |
Benefits expected to be paid 2022 | US [Member] | |
Benefits Expected to be paid by the Retirement Benefit Plans (Impact on Cashflows) [Line Items] | |
Benefits Expected to be paid by the Retirement Benefit Plans | 82,000,000 |
Benefits expected to be paid 2022 | Other [Member] | |
Benefits Expected to be paid by the Retirement Benefit Plans (Impact on Cashflows) [Line Items] | |
Benefits Expected to be paid by the Retirement Benefit Plans | 61,000,000 |
Benefits expected to be paid 2023 | Total countries [Domain Member] | |
Benefits Expected to be paid by the Retirement Benefit Plans (Impact on Cashflows) [Line Items] | |
Benefits Expected to be paid by the Retirement Benefit Plans | 760,000,000 |
Benefits expected to be paid 2023 | Germany [Member] | |
Benefits Expected to be paid by the Retirement Benefit Plans (Impact on Cashflows) [Line Items] | |
Benefits Expected to be paid by the Retirement Benefit Plans | 498,000,000 |
Benefits expected to be paid 2023 | UK [Member] | |
Benefits Expected to be paid by the Retirement Benefit Plans (Impact on Cashflows) [Line Items] | |
Benefits Expected to be paid by the Retirement Benefit Plans | 116,000,000 |
Benefits expected to be paid 2023 | US [Member] | |
Benefits Expected to be paid by the Retirement Benefit Plans (Impact on Cashflows) [Line Items] | |
Benefits Expected to be paid by the Retirement Benefit Plans | 86,000,000 |
Benefits expected to be paid 2023 | Other [Member] | |
Benefits Expected to be paid by the Retirement Benefit Plans (Impact on Cashflows) [Line Items] | |
Benefits Expected to be paid by the Retirement Benefit Plans | 60,000,000 |
Benefits expected to be paid 2024 to 2028 | Total countries [Domain Member] | |
Benefits Expected to be paid by the Retirement Benefit Plans (Impact on Cashflows) [Line Items] | |
Benefits Expected to be paid by the Retirement Benefit Plans | 4,217,000,000 |
Benefits expected to be paid 2024 to 2028 | Germany [Member] | |
Benefits Expected to be paid by the Retirement Benefit Plans (Impact on Cashflows) [Line Items] | |
Benefits Expected to be paid by the Retirement Benefit Plans | 2,747,000,000 |
Benefits expected to be paid 2024 to 2028 | UK [Member] | |
Benefits Expected to be paid by the Retirement Benefit Plans (Impact on Cashflows) [Line Items] | |
Benefits Expected to be paid by the Retirement Benefit Plans | 694,000,000 |
Benefits expected to be paid 2024 to 2028 | US [Member] | |
Benefits Expected to be paid by the Retirement Benefit Plans (Impact on Cashflows) [Line Items] | |
Benefits Expected to be paid by the Retirement Benefit Plans | 455,000,000 |
Benefits expected to be paid 2024 to 2028 | Other [Member] | |
Benefits Expected to be paid by the Retirement Benefit Plans (Impact on Cashflows) [Line Items] | |
Benefits Expected to be paid by the Retirement Benefit Plans | € 321,000,000 |
Employee Benefits - Actuarial A
Employee Benefits - Actuarial Assumptions (Detail) | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | ||
Germany [Member] | |||
Actuarial Assumptions [line items] | |||
Discount rate (in %) | 1.70% | 1.70% | |
Rate of price inflation (in %) | 1.60% | 1.80% | |
Rate of nominal increase in future compensation levels (in %) | 2.10% | 2.30% | |
Rate of nominal increase for pensions in payment (in %) | 1.50% | 1.70% | |
Assumed life expectancy at age 65 | |||
For a male aged 65 at measurement date | 20 | 19.3 | |
For a female aged 65 at measurement date | 23.6 | 23.3 | |
For a male aged 45 at measurement date | 22.8 | 21.9 | |
For a female aged 45 at measurement date | 25.8 | 25.8 | |
UK [Member] | |||
Actuarial Assumptions [line items] | |||
Discount rate (in %) | 2.70% | 2.50% | |
Rate of price inflation (in %) | 3.50% | 3.50% | |
Rate of nominal increase in future compensation levels (in %) | 4.00% | 4.50% | |
Rate of nominal increase for pensions in payment (in %) | 3.30% | 3.30% | |
Assumed life expectancy at age 65 | |||
For a male aged 65 at measurement date | 23.5 | 23.6 | |
For a female aged 65 at measurement date | 25.4 | 25.4 | |
For a male aged 45 at measurement date | 24.8 | 24.9 | |
For a female aged 45 at measurement date | 26.8 | 26.9 | |
US [Member] | |||
Actuarial Assumptions [line items] | |||
Discount rate (in %) | [1] | 4.20% | 3.50% |
Rate of price inflation (in %) | [1] | 2.20% | 2.20% |
Rate of nominal increase in future compensation levels (in %) | [1] | 2.30% | 2.30% |
Rate of nominal increase for pensions in payment (in %) | [1] | 2.20% | 2.20% |
Assumed life expectancy at age 65 | |||
For a male aged 65 at measurement date | [1] | 22.2 | 22.2 |
For a female aged 65 at measurement date | [1] | 23.7 | 23.7 |
For a male aged 45 at measurement date | [1] | 23.7 | 23.8 |
For a female aged 45 at measurement date | [1] | 25.2 | 25.2 |
Other [Member] | |||
Actuarial Assumptions [line items] | |||
Discount rate (in %) | 2.60% | 2.50% | |
Rate of price inflation (in %) | 1.90% | 2.00% | |
Rate of nominal increase in future compensation levels (in %) | 2.90% | 3.10% | |
Rate of nominal increase for pensions in payment (in %) | 1.00% | 1.10% | |
Assumed life expectancy at age 65 | |||
For a male aged 65 at measurement date | 21.8 | 21.7 | |
For a female aged 65 at measurement date | 24.1 | 24.1 | |
For a male aged 45 at measurement date | 23.3 | 23.1 | |
For a female aged 45 at measurement date | 25.6 | 25.6 | |
[1] | Cash balance interest crediting rate in line with the 30-year US government bond yield. |
Employee Benefits - Reconciliat
Employee Benefits - Reconciliation in Movement of Liabilities and Assets - Impact on Balance Sheet (Detail) - EUR (€) € in Millions | 12 Months Ended | ||||
Dec. 31, 2018 | Dec. 31, 2017 | ||||
Total countries [Domain Member] | Reconciliation in Movement of Liabilities and Assets, Impact on Balance Sheet, Grouping [Domain Member] | |||||
thereof, Reconciliation | |||||
Funded status, end of year | € (393) | € (435) | |||
Net asset (liability) recognized | (418) | [1] | (479) | [2] | |
Total countries [Domain Member] | Change in the present value of the defined benefit obligation [Member] | |||||
Reconciliation in Movement of Liabilities and Assets, Impact on Balance Sheet [line items] | |||||
Change in the present value of the defined benefit obligation: Balance, beginning of year | 18,646 | 19,113 | |||
Defined benefit cost recognized in Profit & Loss [Abstract] | |||||
Current service cost | 296 | 318 | |||
Interest cost | 379 | 397 | |||
Past service cost and gain or loss arising from settlements | (16) | 27 | |||
Defined benefit cost recognized in Other Comprehensive Income [Abstract] | |||||
Actuarial gain or loss arising from changes in financial assumptions | (434) | 101 | |||
Actuarial gain or loss arising from changes in demographic assumptions | 45 | (33) | |||
Actuarial gain or loss arising from experience | (30) | (24) | |||
Cash flow and other changes [Abstract] | |||||
Contributions by plan participants | 19 | 18 | |||
Benefits paid | (803) | (840) | |||
Payments in respect to settlements | (11) | (26) | |||
Acquisitions/Divestitures, Cashflows and other changes | (2) | 0 | |||
Exchange rate changes | 31 | (403) | |||
Other, Cash Flow and Other Changes | 0 | (2) | |||
Change in the present value of the defined benefit obligation: Balance, end of year | 18,120 | 18,646 | |||
thereof, Reconciliation | |||||
Unfunded | 315 | 325 | |||
Funded | 17,805 | 18,321 | |||
Total countries [Domain Member] | Change in fair value of plan assets [Member] | |||||
Defined benefit cost recognized in Profit & Loss [Abstract] | |||||
Interest income | 375 | 388 | |||
Cash flow and other changes [Abstract] | |||||
Contributions by plan participants | 19 | 18 | |||
Benefits paid | [3] | (767) | (806) | ||
Payments in respect to settlements | (12) | (26) | |||
Acquisitions/Divestitures, Cashflows and other changes | (2) | 0 | |||
Exchange rate changes | 6 | (388) | |||
Other, Cash Flow and Other Changes | 0 | (1) | |||
thereof, Reconciliation | |||||
Change in fair value of plan assets: Balance, beginning of year | 18,211 | 18,519 | |||
Return from plan assets less interest income | (655) | 21 | |||
Contributions by the employer | 558 | 491 | |||
Plan administration costs | (6) | (5) | |||
Change in fair value of plan assets: Balance, end of year | 17,727 | 18,211 | |||
Total countries [Domain Member] | Change in irrecoverable surplus (asset ceiling) [Member] | |||||
Defined benefit cost recognized in Profit & Loss [Abstract] | |||||
Interest cost | 0 | 0 | |||
Cash flow and other changes [Abstract] | |||||
Exchange rate changes | (1) | 2 | |||
thereof, Reconciliation | |||||
Change in irrecoverable surplus (asset ceiling): Balance, beginning of year | (44) | 0 | |||
Changes in irrecoverable surplus | 20 | (46) | |||
Change in irrecoverable surplus (asset ceiling): Balance, end of year | (25) | (44) | |||
Germany [Member] | Reconciliation in Movement of Liabilities and Assets, Impact on Balance Sheet, Grouping [Domain Member] | |||||
thereof, Reconciliation | |||||
Funded status, end of year | (1,076) | (1,087) | |||
Net asset (liability) recognized | (1,076) | (1,087) | |||
Germany [Member] | Change in the present value of the defined benefit obligation [Member] | |||||
Reconciliation in Movement of Liabilities and Assets, Impact on Balance Sheet [line items] | |||||
Change in the present value of the defined benefit obligation: Balance, beginning of year | 12,090 | 11,978 | |||
Defined benefit cost recognized in Profit & Loss [Abstract] | |||||
Current service cost | 204 | 213 | |||
Interest cost | 203 | 202 | |||
Past service cost and gain or loss arising from settlements | (33) | 34 | |||
Defined benefit cost recognized in Other Comprehensive Income [Abstract] | |||||
Actuarial gain or loss arising from changes in financial assumptions | (135) | 76 | |||
Actuarial gain or loss arising from changes in demographic assumptions | 98 | [4] | 0 | ||
Actuarial gain or loss arising from experience | (38) | (3) | |||
Cash flow and other changes [Abstract] | |||||
Contributions by plan participants | 3 | 3 | |||
Benefits paid | (437) | (413) | |||
Payments in respect to settlements | 0 | 0 | |||
Acquisitions/Divestitures, Cashflows and other changes | (2) | 0 | |||
Exchange rate changes | 0 | 0 | |||
Other, Cash Flow and Other Changes | 0 | 0 | |||
Change in the present value of the defined benefit obligation: Balance, end of year | 11,953 | 12,090 | |||
thereof, Reconciliation | |||||
Unfunded | 0 | 2 | |||
Funded | 11,953 | 12,088 | |||
Germany [Member] | Change in fair value of plan assets [Member] | |||||
Defined benefit cost recognized in Profit & Loss [Abstract] | |||||
Interest income | 187 | 187 | |||
Cash flow and other changes [Abstract] | |||||
Contributions by plan participants | 3 | 3 | |||
Benefits paid | [3] | (437) | (413) | ||
Payments in respect to settlements | 0 | 0 | |||
Acquisitions/Divestitures, Cashflows and other changes | (1) | 0 | |||
Exchange rate changes | 0 | 0 | |||
Other, Cash Flow and Other Changes | 0 | 0 | |||
thereof, Reconciliation | |||||
Change in fair value of plan assets: Balance, beginning of year | 11,003 | 10,975 | |||
Return from plan assets less interest income | (351) | (187) | |||
Contributions by the employer | 473 | 438 | |||
Plan administration costs | 0 | 0 | |||
Change in fair value of plan assets: Balance, end of year | 10,877 | 11,003 | |||
Germany [Member] | Change in irrecoverable surplus (asset ceiling) [Member] | |||||
Defined benefit cost recognized in Profit & Loss [Abstract] | |||||
Interest cost | 0 | 0 | |||
Cash flow and other changes [Abstract] | |||||
Exchange rate changes | 0 | 0 | |||
thereof, Reconciliation | |||||
Change in irrecoverable surplus (asset ceiling): Balance, beginning of year | 0 | 0 | |||
Changes in irrecoverable surplus | 0 | 0 | |||
Change in irrecoverable surplus (asset ceiling): Balance, end of year | 0 | 0 | |||
UK [Member] | Reconciliation in Movement of Liabilities and Assets, Impact on Balance Sheet, Grouping [Domain Member] | |||||
thereof, Reconciliation | |||||
Funded status, end of year | 1,016 | 1,026 | |||
Net asset (liability) recognized | 1,016 | 1,026 | |||
UK [Member] | Change in the present value of the defined benefit obligation [Member] | |||||
Reconciliation in Movement of Liabilities and Assets, Impact on Balance Sheet [line items] | |||||
Change in the present value of the defined benefit obligation: Balance, beginning of year | 4,176 | 4,496 | |||
Defined benefit cost recognized in Profit & Loss [Abstract] | |||||
Current service cost | 30 | 34 | |||
Interest cost | 104 | 114 | |||
Past service cost and gain or loss arising from settlements | 18 | 4 | |||
Defined benefit cost recognized in Other Comprehensive Income [Abstract] | |||||
Actuarial gain or loss arising from changes in financial assumptions | (187) | (43) | |||
Actuarial gain or loss arising from changes in demographic assumptions | (48) | (16) | |||
Actuarial gain or loss arising from experience | (7) | (17) | |||
Cash flow and other changes [Abstract] | |||||
Contributions by plan participants | 0 | 0 | |||
Benefits paid | (176) | (245) | |||
Payments in respect to settlements | 0 | 0 | |||
Acquisitions/Divestitures, Cashflows and other changes | 0 | 0 | |||
Exchange rate changes | (42) | (151) | |||
Other, Cash Flow and Other Changes | 0 | 0 | |||
Change in the present value of the defined benefit obligation: Balance, end of year | 3,868 | 4,176 | |||
thereof, Reconciliation | |||||
Unfunded | 10 | 12 | |||
Funded | 3,858 | 4,164 | |||
UK [Member] | Change in fair value of plan assets [Member] | |||||
Defined benefit cost recognized in Profit & Loss [Abstract] | |||||
Interest income | 130 | 135 | |||
Cash flow and other changes [Abstract] | |||||
Contributions by plan participants | 0 | 0 | |||
Benefits paid | [3] | (175) | (244) | ||
Payments in respect to settlements | 0 | 0 | |||
Acquisitions/Divestitures, Cashflows and other changes | 0 | 0 | |||
Exchange rate changes | (53) | (183) | |||
Other, Cash Flow and Other Changes | 0 | 0 | |||
thereof, Reconciliation | |||||
Change in fair value of plan assets: Balance, beginning of year | 5,202 | 5,352 | |||
Return from plan assets less interest income | (218) | 144 | |||
Contributions by the employer | 0 | 0 | |||
Plan administration costs | (2) | (2) | |||
Change in fair value of plan assets: Balance, end of year | 4,884 | 5,202 | |||
UK [Member] | Change in irrecoverable surplus (asset ceiling) [Member] | |||||
Defined benefit cost recognized in Profit & Loss [Abstract] | |||||
Interest cost | 0 | 0 | |||
Cash flow and other changes [Abstract] | |||||
Exchange rate changes | 0 | 0 | |||
thereof, Reconciliation | |||||
Change in irrecoverable surplus (asset ceiling): Balance, beginning of year | 0 | 0 | |||
Changes in irrecoverable surplus | 0 | 0 | |||
Change in irrecoverable surplus (asset ceiling): Balance, end of year | 0 | 0 | |||
US [Member] | Reconciliation in Movement of Liabilities and Assets, Impact on Balance Sheet, Grouping [Domain Member] | |||||
thereof, Reconciliation | |||||
Funded status, end of year | (263) | (310) | |||
Net asset (liability) recognized | (263) | (310) | |||
US [Member] | Change in the present value of the defined benefit obligation [Member] | |||||
Reconciliation in Movement of Liabilities and Assets, Impact on Balance Sheet [line items] | |||||
Change in the present value of the defined benefit obligation: Balance, beginning of year | 1,401 | 1,548 | |||
Defined benefit cost recognized in Profit & Loss [Abstract] | |||||
Current service cost | 17 | 21 | |||
Interest cost | 49 | 56 | |||
Past service cost and gain or loss arising from settlements | 0 | 0 | |||
Defined benefit cost recognized in Other Comprehensive Income [Abstract] | |||||
Actuarial gain or loss arising from changes in financial assumptions | (89) | 65 | |||
Actuarial gain or loss arising from changes in demographic assumptions | (3) | (6) | |||
Actuarial gain or loss arising from experience | 11 | 5 | |||
Cash flow and other changes [Abstract] | |||||
Contributions by plan participants | 0 | 0 | |||
Benefits paid | (114) | (99) | |||
Payments in respect to settlements | 0 | 0 | |||
Acquisitions/Divestitures, Cashflows and other changes | 0 | 0 | |||
Exchange rate changes | 65 | (189) | |||
Other, Cash Flow and Other Changes | 0 | 0 | |||
Change in the present value of the defined benefit obligation: Balance, end of year | 1,337 | 1,401 | |||
thereof, Reconciliation | |||||
Unfunded | 193 | 195 | |||
Funded | 1,144 | 1,206 | |||
US [Member] | Change in fair value of plan assets [Member] | |||||
Defined benefit cost recognized in Profit & Loss [Abstract] | |||||
Interest income | 38 | 44 | |||
Cash flow and other changes [Abstract] | |||||
Contributions by plan participants | 0 | 0 | |||
Benefits paid | [3] | (102) | (86) | ||
Payments in respect to settlements | 0 | 0 | |||
Acquisitions/Divestitures, Cashflows and other changes | 0 | 0 | |||
Exchange rate changes | 52 | (147) | |||
Other, Cash Flow and Other Changes | 0 | 0 | |||
thereof, Reconciliation | |||||
Change in fair value of plan assets: Balance, beginning of year | 1,091 | 1,219 | |||
Return from plan assets less interest income | (53) | 32 | |||
Contributions by the employer | 52 | 31 | |||
Plan administration costs | (4) | (2) | |||
Change in fair value of plan assets: Balance, end of year | 1,074 | 1,091 | |||
US [Member] | Change in irrecoverable surplus (asset ceiling) [Member] | |||||
Defined benefit cost recognized in Profit & Loss [Abstract] | |||||
Interest cost | 0 | 0 | |||
Cash flow and other changes [Abstract] | |||||
Exchange rate changes | 0 | 0 | |||
thereof, Reconciliation | |||||
Change in irrecoverable surplus (asset ceiling): Balance, beginning of year | 0 | 0 | |||
Changes in irrecoverable surplus | 0 | 0 | |||
Change in irrecoverable surplus (asset ceiling): Balance, end of year | 0 | 0 | |||
Other [Member] | Reconciliation in Movement of Liabilities and Assets, Impact on Balance Sheet, Grouping [Domain Member] | |||||
thereof, Reconciliation | |||||
Funded status, end of year | (70) | (64) | |||
Net asset (liability) recognized | (95) | (108) | |||
Other [Member] | Change in the present value of the defined benefit obligation [Member] | |||||
Reconciliation in Movement of Liabilities and Assets, Impact on Balance Sheet [line items] | |||||
Change in the present value of the defined benefit obligation: Balance, beginning of year | 979 | 1,091 | |||
Defined benefit cost recognized in Profit & Loss [Abstract] | |||||
Current service cost | 45 | 50 | |||
Interest cost | 23 | 25 | |||
Past service cost and gain or loss arising from settlements | (1) | (11) | |||
Defined benefit cost recognized in Other Comprehensive Income [Abstract] | |||||
Actuarial gain or loss arising from changes in financial assumptions | (23) | 3 | |||
Actuarial gain or loss arising from changes in demographic assumptions | (2) | (11) | |||
Actuarial gain or loss arising from experience | 4 | (9) | |||
Cash flow and other changes [Abstract] | |||||
Contributions by plan participants | 16 | 15 | |||
Benefits paid | (76) | (83) | |||
Payments in respect to settlements | (11) | (26) | |||
Acquisitions/Divestitures, Cashflows and other changes | 0 | 0 | |||
Exchange rate changes | 8 | (63) | |||
Other, Cash Flow and Other Changes | 0 | (2) | |||
Change in the present value of the defined benefit obligation: Balance, end of year | 962 | 979 | |||
thereof, Reconciliation | |||||
Unfunded | 112 | 116 | |||
Funded | 850 | 863 | |||
Other [Member] | Change in fair value of plan assets [Member] | |||||
Defined benefit cost recognized in Profit & Loss [Abstract] | |||||
Interest income | 20 | 22 | |||
Cash flow and other changes [Abstract] | |||||
Contributions by plan participants | 16 | 15 | |||
Benefits paid | [3] | (53) | (63) | ||
Payments in respect to settlements | (12) | (26) | |||
Acquisitions/Divestitures, Cashflows and other changes | (1) | 0 | |||
Exchange rate changes | 7 | (58) | |||
Other, Cash Flow and Other Changes | 0 | (1) | |||
thereof, Reconciliation | |||||
Change in fair value of plan assets: Balance, beginning of year | 915 | 973 | |||
Return from plan assets less interest income | (33) | 32 | |||
Contributions by the employer | 33 | 22 | |||
Plan administration costs | 0 | (1) | |||
Change in fair value of plan assets: Balance, end of year | 892 | 915 | |||
Other [Member] | Change in irrecoverable surplus (asset ceiling) [Member] | |||||
Defined benefit cost recognized in Profit & Loss [Abstract] | |||||
Interest cost | 0 | 0 | |||
Cash flow and other changes [Abstract] | |||||
Exchange rate changes | (1) | 2 | |||
thereof, Reconciliation | |||||
Change in irrecoverable surplus (asset ceiling): Balance, beginning of year | (44) | 0 | |||
Changes in irrecoverable surplus | 20 | (46) | |||
Change in irrecoverable surplus (asset ceiling): Balance, end of year | € (25) | € (44) | |||
[1] | Thereof EUR1,097million recognized in Other assets and EUR1,515million in Other liabilities. | ||||
[2] | Thereof EUR1,113million recognized in Other assets and EUR1,592million in Other liabilities. | ||||
[3] | For funded plans only. | ||||
[4] | Resulting predominantly from updated mortality assumptions (Heubeck 2018G instead of Heubeck 2005G) |
Employee Benefits - Plan Asset
Employee Benefits - Plan Asset Allocation (Detail) - EUR (€) € in Millions | Dec. 31, 2018 | Dec. 31, 2017 | ||
Total countries [Domain Member] | ||||
Plan Asset Allocation [line items] | ||||
Cash and cash equivalents | € 1,918 | € 1,779 | ||
Equity instruments | [1] | 1,886 | 2,033 | |
Investment-grade bonds | ||||
Government | [2] | 3,255 | 3,907 | |
Non-government bonds | [2] | 8,623 | 8,283 | |
Non-investment-grade bonds | ||||
Government | 195 | 191 | ||
Non-government bonds | 282 | 737 | ||
Structured products | 113 | 520 | ||
Insurance | 16 | 27 | ||
Alternatives | ||||
Real estate | 395 | 405 | ||
Commodities | 53 | 72 | ||
Private equity | 65 | 58 | ||
Other | [3] | 1,684 | 1,098 | |
Derivatives (Market Value) [Abstract] | ||||
Interest rate | (56) | (10) | ||
Credit | 95 | (157) | ||
Inflation | (797) | (748) | ||
Foreign exchange | 14 | 13 | ||
Other | (14) | 3 | ||
Total fair value of plan assets | 17,727 | 18,211 | ||
Germany [Member] | ||||
Plan Asset Allocation [line items] | ||||
Cash and cash equivalents | 1,138 | 1,260 | ||
Equity instruments | [1] | 1,148 | 1,265 | |
Investment-grade bonds | ||||
Government | [2] | 1,975 | 2,212 | |
Non-government bonds | [2] | 5,196 | 5,189 | |
Non-investment-grade bonds | ||||
Government | 175 | 177 | ||
Non-government bonds | 166 | 610 | ||
Structured products | 39 | 41 | ||
Insurance | 0 | 0 | ||
Alternatives | ||||
Real estate | 285 | 232 | ||
Commodities | 53 | 48 | ||
Private equity | 54 | 58 | ||
Other | [3] | 1,419 | 788 | |
Derivatives (Market Value) [Abstract] | ||||
Interest rate | (192) | (191) | [4] | |
Credit | 13 | (155) | ||
Inflation | (608) | (544) | [4] | |
Foreign exchange | 14 | 10 | ||
Other | 2 | 3 | ||
Total fair value of plan assets | 10,877 | 11,003 | ||
UK [Member] | ||||
Plan Asset Allocation [line items] | ||||
Cash and cash equivalents | 715 | 419 | ||
Equity instruments | [1] | 571 | 582 | |
Investment-grade bonds | ||||
Government | [2] | 699 | 1,167 | |
Non-government bonds | [2] | 2,805 | 2,447 | |
Non-investment-grade bonds | ||||
Government | 0 | 0 | ||
Non-government bonds | 80 | 70 | ||
Structured products | 6 | 402 | ||
Insurance | 0 | 0 | ||
Alternatives | ||||
Real estate | 52 | 117 | ||
Commodities | 0 | 24 | ||
Private equity | 0 | 0 | ||
Other | [3] | 22 | 36 | |
Derivatives (Market Value) [Abstract] | ||||
Interest rate | 129 | 148 | ||
Credit | 0 | (1) | ||
Inflation | (194) | (210) | ||
Foreign exchange | (1) | 1 | ||
Other | 0 | 0 | ||
Total fair value of plan assets | 4,884 | 5,202 | ||
US [Member] | ||||
Plan Asset Allocation [line items] | ||||
Cash and cash equivalents | (12) | 26 | ||
Equity instruments | [1] | 107 | 118 | |
Investment-grade bonds | ||||
Government | [2] | 428 | 367 | |
Non-government bonds | [2] | 405 | 472 | |
Non-investment-grade bonds | ||||
Government | 1 | 0 | ||
Non-government bonds | 14 | 20 | ||
Structured products | 52 | 51 | ||
Insurance | 0 | 0 | ||
Alternatives | ||||
Real estate | 0 | 0 | ||
Commodities | 0 | 0 | ||
Private equity | 0 | 0 | ||
Other | [3] | 0 | 0 | |
Derivatives (Market Value) [Abstract] | ||||
Interest rate | 13 | 37 | ||
Credit | 82 | 0 | ||
Inflation | 0 | 0 | ||
Foreign exchange | 0 | 0 | ||
Other | (16) | 0 | ||
Total fair value of plan assets | 1,074 | 1,091 | ||
Other countries [Member] | ||||
Plan Asset Allocation [line items] | ||||
Cash and cash equivalents | 77 | 74 | ||
Equity instruments | [1] | 60 | 68 | |
Investment-grade bonds | ||||
Government | [2] | 153 | 161 | |
Non-government bonds | [2] | 217 | 175 | |
Non-investment-grade bonds | ||||
Government | 19 | 14 | ||
Non-government bonds | 22 | 37 | ||
Structured products | 16 | 26 | ||
Insurance | 16 | 27 | ||
Alternatives | ||||
Real estate | 58 | 56 | ||
Commodities | 0 | 0 | ||
Private equity | 11 | 0 | ||
Other | [3] | 243 | 274 | |
Derivatives (Market Value) [Abstract] | ||||
Interest rate | (6) | (4) | ||
Credit | 0 | (1) | ||
Inflation | 5 | 6 | ||
Foreign exchange | 1 | 2 | ||
Other | 0 | 0 | ||
Total fair value of plan assets | € 892 | € 915 | ||
[1] | Allocation of equity exposure is broadly in line with the typical index in the respective market, e.g. the equity portfolios benchmark of the UK retirement benefit plans is the MSCI All Countries World Index. | |||
[2] | Investment-grade means BBB and above. Average credit rating exposure for the Groups main plans is around A. | |||
[3] | Amongst others this position contains commingled funds which could not be segregated into the other asset categories. In particular the increase from 2017 to 2018 is caused by such positions. | |||
[4] | Comparative 2017 figures have been changed retrospectively to be in line with the current assignment of assets to the derivative categories. |
Employee Benefits - Plan Asse_2
Employee Benefits - Plan Asset Allocation Level 1 (Detail) - Level 1 of Fair Value Hierarchy [Member] - EUR (€) € in Millions | Dec. 31, 2018 | Dec. 31, 2017 | |
Total countries [Domain Member] | |||
Plan Asset Allocation [line items] | |||
Cash and cash equivalents | € 1,216 | € 1,325 | |
Equity instruments | [1] | 1,742 | 1,912 |
Investment-grade bonds | |||
Government | [2] | 2,183 | 2,788 |
Non-government bonds | [2] | 0 | 0 |
Non-investment-grade bonds | |||
Government | 2 | 1 | |
Non-government bonds | 0 | 0 | |
Structured products | 0 | 0 | |
Insurance | 0 | 0 | |
Alternatives | |||
Real estate | 0 | 0 | |
Commodities | 0 | 0 | |
Private equity | 0 | 0 | |
Other | 0 | 0 | |
Derivatives (Market Value) [Abstract] | |||
Interest rate | (17) | 7 | |
Credit | 0 | (1) | |
Inflation | 0 | 0 | |
Foreign exchange | (1) | 1 | |
Other | 2 | 3 | |
Total fair value of quoted plan assets | 5,127 | 6,036 | |
Germany [Member] | |||
Plan Asset Allocation [line items] | |||
Cash and cash equivalents | 1,162 | 1,251 | |
Equity instruments | [1] | 1,015 | 1,154 |
Investment-grade bonds | |||
Government | [2] | 1,013 | 1,190 |
Non-government bonds | [2] | 0 | 0 |
Non-investment-grade bonds | |||
Government | 0 | 1 | |
Non-government bonds | 0 | 0 | |
Structured products | 0 | 0 | |
Insurance | 0 | 0 | |
Alternatives | |||
Real estate | 0 | 0 | |
Commodities | 0 | 0 | |
Private equity | 0 | 0 | |
Other | 0 | 0 | |
Derivatives (Market Value) [Abstract] | |||
Interest rate | 0 | 1 | |
Credit | 0 | 0 | |
Inflation | 0 | 0 | |
Foreign exchange | 0 | 0 | |
Other | 2 | 3 | |
Total fair value of quoted plan assets | 3,192 | 3,600 | |
UK [Member] | |||
Plan Asset Allocation [line items] | |||
Cash and cash equivalents | 30 | 22 | |
Equity instruments | [1] | 571 | 582 |
Investment-grade bonds | |||
Government | [2] | 695 | 1,163 |
Non-government bonds | [2] | 0 | 0 |
Non-investment-grade bonds | |||
Government | 0 | 0 | |
Non-government bonds | 0 | 0 | |
Structured products | 0 | 0 | |
Insurance | 0 | 0 | |
Alternatives | |||
Real estate | 0 | 0 | |
Commodities | 0 | 0 | |
Private equity | 0 | 0 | |
Other | 0 | 0 | |
Derivatives (Market Value) [Abstract] | |||
Interest rate | 0 | 0 | |
Credit | 0 | (1) | |
Inflation | 0 | 0 | |
Foreign exchange | (1) | 1 | |
Other | 0 | 0 | |
Total fair value of quoted plan assets | 1,295 | 1,767 | |
US [Member] | |||
Plan Asset Allocation [line items] | |||
Cash and cash equivalents | (16) | 24 | |
Equity instruments | [1] | 107 | 118 |
Investment-grade bonds | |||
Government | [2] | 423 | 362 |
Non-government bonds | [2] | 0 | 0 |
Non-investment-grade bonds | |||
Government | 0 | 0 | |
Non-government bonds | 0 | 0 | |
Structured products | 0 | 0 | |
Insurance | 0 | 0 | |
Alternatives | |||
Real estate | 0 | 0 | |
Commodities | 0 | 0 | |
Private equity | 0 | 0 | |
Other | 0 | 0 | |
Derivatives (Market Value) [Abstract] | |||
Interest rate | (17) | 6 | |
Credit | 0 | 0 | |
Inflation | 0 | 0 | |
Foreign exchange | 0 | 0 | |
Other | 0 | 0 | |
Total fair value of quoted plan assets | 497 | 510 | |
Other countries [Member] | |||
Plan Asset Allocation [line items] | |||
Cash and cash equivalents | 40 | 28 | |
Equity instruments | [1] | 49 | 58 |
Investment-grade bonds | |||
Government | [2] | 52 | 73 |
Non-government bonds | [2] | 0 | 0 |
Non-investment-grade bonds | |||
Government | 2 | 0 | |
Non-government bonds | 0 | 0 | |
Structured products | 0 | 0 | |
Insurance | 0 | 0 | |
Alternatives | |||
Real estate | 0 | 0 | |
Commodities | 0 | 0 | |
Private equity | 0 | 0 | |
Other | 0 | 0 | |
Derivatives (Market Value) [Abstract] | |||
Interest rate | 0 | 0 | |
Credit | 0 | 0 | |
Inflation | 0 | 0 | |
Foreign exchange | 0 | 0 | |
Other | 0 | 0 | |
Total fair value of quoted plan assets | € 143 | € 159 | |
[1] | Allocation of equity exposure is broadly in line with the typical index in the respective market, e.g. the equity portfolios benchmark of the UK retirement benefit plans is the MSCI All Countries World Index. | ||
[2] | Investment-grade means BBB and above. Average credit rating exposure for the Groups main plans is around A. |
Employee Benefits - Regional As
Employee Benefits - Regional Asset Break Down (Detail) - EUR (€) € in Millions | Dec. 31, 2018 | Dec. 31, 2017 | |
Total countries [Domain Member] | |||
Regional Asset Break Down [line items] | |||
Cash and cash equivalents, Plan Asset Allocation | € 1,918 | € 1,779 | |
Equity instruments | 1,886 | 2,033 | |
Government bonds (investment-grade and above) | 3,255 | 3,907 | |
Government bonds (non-investment-grade) | 195 | 191 | |
Non-government bonds (investment-grade and above) | 8,623 | 8,283 | |
Non-government bonds (non-investment-grade) | 282 | 737 | |
Structured products, Regional Asset Break Down | 113 | 520 | |
Subtotal | € 16,272 | € 17,450 | |
Share (in %) | 100.00% | 100.00% | |
Regional Asset Break Down, Other | € 1,455 | € 761 | |
Fair value of plan assets | 17,727 | 18,211 | |
Germany [Member] | |||
Regional Asset Break Down [line items] | |||
Cash and cash equivalents, Plan Asset Allocation | 141 | 294 | |
Equity instruments | 252 | 349 | |
Government bonds (investment-grade and above) | 870 | 1,057 | |
Government bonds (non-investment-grade) | 0 | 0 | |
Non-government bonds (investment-grade and above) | 718 | 575 | |
Non-government bonds (non-investment-grade) | 4 | 4 | |
Structured products, Regional Asset Break Down | 38 | 41 | |
Subtotal | € 2,023 | € 2,320 | |
Share (in %) | 12.4324% | 13.2951% | |
UK [Member] | |||
Regional Asset Break Down [line items] | |||
Cash and cash equivalents, Plan Asset Allocation | € 701 | € 126 | |
Equity instruments | 108 | 83 | |
Government bonds (investment-grade and above) | 574 | 1,087 | |
Government bonds (non-investment-grade) | 0 | 0 | |
Non-government bonds (investment-grade and above) | 2,129 | 1,890 | |
Non-government bonds (non-investment-grade) | 65 | 44 | |
Structured products, Regional Asset Break Down | 21 | 422 | |
Subtotal | € 3,598 | € 3,652 | |
Share (in %) | 22.1116% | 20.9284% | |
US [Member] | |||
Regional Asset Break Down [line items] | |||
Cash and cash equivalents, Plan Asset Allocation | € 65 | € 96 | |
Equity instruments | 708 | 802 | |
Government bonds (investment-grade and above) | 474 | 397 | |
Government bonds (non-investment-grade) | 0 | 0 | |
Non-government bonds (investment-grade and above) | 2,023 | 2,196 | |
Non-government bonds (non-investment-grade) | 13 | 20 | |
Structured products, Regional Asset Break Down | 52 | 51 | |
Subtotal | € 3,335 | € 3,562 | |
Share (in %) | 20.4953% | 20.4126% | |
Other Eurozone [Member] | |||
Regional Asset Break Down [line items] | |||
Cash and cash equivalents, Plan Asset Allocation | € 953 | € 1,204 | |
Equity instruments | 360 | 317 | |
Government bonds (investment-grade and above) | 650 | 627 | |
Government bonds (non-investment-grade) | 4 | 9 | |
Non-government bonds (investment-grade and above) | [1] | 2,984 | 2,607 |
Non-government bonds (non-investment-grade) | 186 | 640 | |
Structured products, Regional Asset Break Down | 2 | 1 | |
Subtotal | € 5,139 | € 5,405 | |
Share (in %) | 31.5819% | 30.9742% | |
Other developed countries [Member] | |||
Regional Asset Break Down [line items] | |||
Cash and cash equivalents, Plan Asset Allocation | € 29 | € 16 | |
Equity instruments | 363 | 336 | |
Government bonds (investment-grade and above) | 249 | 253 | |
Government bonds (non-investment-grade) | 24 | 23 | |
Non-government bonds (investment-grade and above) | 657 | 906 | |
Non-government bonds (non-investment-grade) | 5 | 19 | |
Structured products, Regional Asset Break Down | 0 | 5 | |
Subtotal | € 1,327 | € 1,558 | |
Share (in %) | 8.1551% | 8.9284% | |
Emerging markets [Member] | |||
Regional Asset Break Down [line items] | |||
Cash and cash equivalents, Plan Asset Allocation | € 29 | € 43 | |
Equity instruments | 95 | 146 | |
Government bonds (investment-grade and above) | 438 | 486 | |
Government bonds (non-investment-grade) | 167 | 159 | |
Non-government bonds (investment-grade and above) | 112 | 109 | |
Non-government bonds (non-investment-grade) | 9 | 10 | |
Structured products, Regional Asset Break Down | 0 | 0 | |
Subtotal | € 850 | € 953 | |
Share (in %) | 5.2237% | 5.4613% | |
[1] | Majority of this amount relates to bonds of French, Dutch and Italian corporate bonds. |
Employee Benefits - Sensitivity
Employee Benefits - Sensitivity Analysis on Funded Status (Detail) - EUR (€) € in Millions | Dec. 31, 2018 | Dec. 31, 2017 | |
Germany [Member] | Discount rate (-50 bp) [Member] | |||
Sensitivity Analysis on Funded Status [line items] | |||
(Increase) in DBO | € (840) | € (875) | |
Expected increase in plan assets | [1] | 235 | 215 |
Expected net impact on funded status (de-) increase | (605) | (660) | |
Germany [Member] | Discount rate (+50 bp) [Member] | |||
Sensitivity Analysis on Funded Status [line items] | |||
Decrease in DBO | 785 | 810 | |
Expected (decrease) in plan assets | [1] | (235) | (215) |
Expected net impact on funded status (de-) increase | 550 | 595 | |
Germany [Member] | Credit spread (-50 bp) [Member] | |||
Sensitivity Analysis on Funded Status [line items] | |||
(Increase) in DBO | (840) | (875) | |
Expected increase in plan assets | [1] | 220 | 150 |
Expected net impact on funded status (de-) increase | (620) | (725) | |
Germany [Member] | Credit spread (+50 bp) [Member] | |||
Sensitivity Analysis on Funded Status [line items] | |||
Decrease in DBO | 785 | 810 | |
Expected (decrease) in plan assets | [1] | (220) | (150) |
Expected net impact on funded status (de-) increase | 565 | 660 | |
Germany [Member] | Rate of price inflation (-50 bp) [Member] | |||
Sensitivity Analysis on Funded Status [line items] | |||
Decrease in DBO | [2] | 335 | 345 |
Expected (decrease) in plan assets | [1],[2] | (190) | (180) |
Expected net impact on funded status (de-) increase | [2] | 145 | 165 |
Germany [Member] | Rate of price inflation (+50 bp) [Member] | |||
Sensitivity Analysis on Funded Status [line items] | |||
(Increase) in DBO | [2] | (345) | (360) |
Expected increase in plan assets | [1],[2] | 190 | 180 |
Expected net impact on funded status (de-) increase | [2] | (155) | (180) |
Germany [Member] | Rate of real increase in future compensation levels (-50 bp) [Member] | |||
Sensitivity Analysis on Funded Status [line items] | |||
Decrease in DBO, net impact on funded status | 60 | 70 | |
Germany [Member] | Rate of real increase in future compensation levels (+50 bp) [Member] | |||
Sensitivity Analysis on Funded Status [line items] | |||
(Increase) in DBO, net impact on funded status | (60) | (70) | |
Germany [Member] | Longevity improvements by 10 percent [Member] | |||
Sensitivity Analysis on Funded Status [line items] | |||
(Increase) in DBO, net impact on funded status | [3] | (295) | (305) |
UK [Member] | Discount rate (-50 bp) [Member] | |||
Sensitivity Analysis on Funded Status [line items] | |||
(Increase) in DBO | (430) | (465) | |
Expected increase in plan assets | [1] | 435 | 505 |
Expected net impact on funded status (de-) increase | 5 | 40 | |
UK [Member] | Discount rate (+50 bp) [Member] | |||
Sensitivity Analysis on Funded Status [line items] | |||
Decrease in DBO | 385 | 420 | |
Expected (decrease) in plan assets | [1] | (435) | (505) |
Expected net impact on funded status (de-) increase | (50) | (85) | |
UK [Member] | Credit spread (-50 bp) [Member] | |||
Sensitivity Analysis on Funded Status [line items] | |||
(Increase) in DBO | (430) | (465) | |
Expected increase in plan assets | [1] | 125 | 125 |
Expected net impact on funded status (de-) increase | (305) | (340) | |
UK [Member] | Credit spread (+50 bp) [Member] | |||
Sensitivity Analysis on Funded Status [line items] | |||
Decrease in DBO | 385 | 420 | |
Expected (decrease) in plan assets | [1] | (125) | (125) |
Expected net impact on funded status (de-) increase | 260 | 295 | |
UK [Member] | Rate of price inflation (-50 bp) [Member] | |||
Sensitivity Analysis on Funded Status [line items] | |||
Decrease in DBO | [2] | 325 | 345 |
Expected (decrease) in plan assets | [1],[2] | (270) | (310) |
Expected net impact on funded status (de-) increase | [2] | 55 | 35 |
UK [Member] | Rate of price inflation (+50 bp) [Member] | |||
Sensitivity Analysis on Funded Status [line items] | |||
(Increase) in DBO | [2] | (360) | (375) |
Expected increase in plan assets | [1],[2] | 270 | 310 |
Expected net impact on funded status (de-) increase | [2] | (90) | (65) |
UK [Member] | Rate of real increase in future compensation levels (-50 bp) [Member] | |||
Sensitivity Analysis on Funded Status [line items] | |||
Decrease in DBO, net impact on funded status | 10 | 15 | |
UK [Member] | Rate of real increase in future compensation levels (+50 bp) [Member] | |||
Sensitivity Analysis on Funded Status [line items] | |||
(Increase) in DBO, net impact on funded status | (10) | (15) | |
UK [Member] | Longevity improvements by 10 percent [Member] | |||
Sensitivity Analysis on Funded Status [line items] | |||
(Increase) in DBO, net impact on funded status | [3] | (110) | (130) |
US [Member] | Discount rate (-50 bp) [Member] | |||
Sensitivity Analysis on Funded Status [line items] | |||
(Increase) in DBO | (40) | (40) | |
Expected increase in plan assets | [1] | 35 | 35 |
Expected net impact on funded status (de-) increase | (5) | (5) | |
US [Member] | Discount rate (+50 bp) [Member] | |||
Sensitivity Analysis on Funded Status [line items] | |||
Decrease in DBO | 25 | 30 | |
Expected (decrease) in plan assets | [1] | (35) | (35) |
Expected net impact on funded status (de-) increase | (10) | (5) | |
US [Member] | Credit spread (-50 bp) [Member] | |||
Sensitivity Analysis on Funded Status [line items] | |||
(Increase) in DBO | (75) | (85) | |
Expected increase in plan assets | [1] | 20 | 20 |
Expected net impact on funded status (de-) increase | (55) | (65) | |
US [Member] | Credit spread (+50 bp) [Member] | |||
Sensitivity Analysis on Funded Status [line items] | |||
Decrease in DBO | 70 | 80 | |
Expected (decrease) in plan assets | [1] | (20) | (20) |
Expected net impact on funded status (de-) increase | 50 | 60 | |
US [Member] | Rate of price inflation (-50 bp) [Member] | |||
Sensitivity Analysis on Funded Status [line items] | |||
Decrease in DBO | [2] | 0 | 0 |
Expected (decrease) in plan assets | [1],[2] | 0 | 0 |
Expected net impact on funded status (de-) increase | [2] | 0 | 0 |
US [Member] | Rate of price inflation (+50 bp) [Member] | |||
Sensitivity Analysis on Funded Status [line items] | |||
(Increase) in DBO | [2] | 0 | 0 |
Expected increase in plan assets | [1],[2] | 0 | 0 |
Expected net impact on funded status (de-) increase | [2] | 0 | 0 |
US [Member] | Rate of real increase in future compensation levels (-50 bp) [Member] | |||
Sensitivity Analysis on Funded Status [line items] | |||
Decrease in DBO, net impact on funded status | 0 | 0 | |
US [Member] | Rate of real increase in future compensation levels (+50 bp) [Member] | |||
Sensitivity Analysis on Funded Status [line items] | |||
(Increase) in DBO, net impact on funded status | 0 | 0 | |
US [Member] | Longevity improvements by 10 percent [Member] | |||
Sensitivity Analysis on Funded Status [line items] | |||
(Increase) in DBO, net impact on funded status | [3] | (25) | (25) |
Other [Member] | Discount rate (-50 bp) [Member] | |||
Sensitivity Analysis on Funded Status [line items] | |||
(Increase) in DBO | (50) | (55) | |
Expected increase in plan assets | [1] | 20 | 25 |
Expected net impact on funded status (de-) increase | (30) | (30) | |
Other [Member] | Discount rate (+50 bp) [Member] | |||
Sensitivity Analysis on Funded Status [line items] | |||
Decrease in DBO | 50 | 50 | |
Expected (decrease) in plan assets | [1] | (20) | (25) |
Expected net impact on funded status (de-) increase | 30 | 25 | |
Other [Member] | Credit spread (-50 bp) [Member] | |||
Sensitivity Analysis on Funded Status [line items] | |||
(Increase) in DBO | (55) | (60) | |
Expected increase in plan assets | [1] | 10 | 10 |
Expected net impact on funded status (de-) increase | (45) | (50) | |
Other [Member] | Credit spread (+50 bp) [Member] | |||
Sensitivity Analysis on Funded Status [line items] | |||
Decrease in DBO | 50 | 55 | |
Expected (decrease) in plan assets | [1] | (10) | (10) |
Expected net impact on funded status (de-) increase | 40 | 45 | |
Other [Member] | Rate of price inflation (-50 bp) [Member] | |||
Sensitivity Analysis on Funded Status [line items] | |||
Decrease in DBO | [2] | 20 | 20 |
Expected (decrease) in plan assets | [1],[2] | (10) | (10) |
Expected net impact on funded status (de-) increase | [2] | 10 | 10 |
Other [Member] | Rate of price inflation (+50 bp) [Member] | |||
Sensitivity Analysis on Funded Status [line items] | |||
(Increase) in DBO | [2] | (20) | (25) |
Expected increase in plan assets | [1],[2] | 10 | 10 |
Expected net impact on funded status (de-) increase | [2] | (10) | (15) |
Other [Member] | Rate of real increase in future compensation levels (-50 bp) [Member] | |||
Sensitivity Analysis on Funded Status [line items] | |||
Decrease in DBO, net impact on funded status | 10 | 15 | |
Other [Member] | Rate of real increase in future compensation levels (+50 bp) [Member] | |||
Sensitivity Analysis on Funded Status [line items] | |||
(Increase) in DBO, net impact on funded status | (15) | (15) | |
Other [Member] | Longevity improvements by 10 percent [Member] | |||
Sensitivity Analysis on Funded Status [line items] | |||
(Increase) in DBO, net impact on funded status | [3] | € (10) | € (15) |
[1] | Expected changes in the fair value of plan assets contain the simulated impact from the biggest plans in Germany, the UK, the U.S., Channel Islands, Switzerland and Belgium which cover over 99% of the total fair value of plan assets. The fair value of plan assets for other plans is assumed to be unchanged for this presentation. | ||
[2] | Incorporates sensitivity to changes in pension benefits to the extent linked to the price inflation assumption. | ||
[3] | Estimated to be equivalent to an increase of around 1 year in overall life expectancy. |
Expected Cash Flows (Detail)
Expected Cash Flows (Detail) - Total [Member] € in Millions | 12 Months Ended |
Dec. 31, 2019EUR (€) | |
Expected contributions to | |
Defined benefit plan assets, Expected Cash Flows next year | € 500 |
BVV, Expected Cash Flows | 65 |
Pension fund for Postbank's postal civil servants, Expected Cash Flows | 85 |
Other defined contribution plans, Expected Cash Flows | 280 |
Expected benefit payments for unfunded defined benefit plans, Expected Cash Flows | 30 |
Expected cash flow related to post-employment benefits, Expected Cash Flows | € 960 |
Employee Benefits - Expenses fo
Employee Benefits - Expenses for Defined Benefit Plans (Impact on Expense) (Detail) - EUR (€) € in Millions | 12 Months Ended | |||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | ||
Expenses for defined benefit plans: | ||||
Service cost | € 280 | € 345 | € 272 | |
Net interest cost (income) | 4 | 9 | (11) | |
Total expenses defined benefit plans | 284 | 354 | 261 | |
Expenses for defined contribution plans: | ||||
BVV | 62 | 66 | 50 | |
Pension fund for Postbanks postal civil servants | 88 | 93 | 95 | |
Other defined contribution plans | 271 | 281 | 284 | |
Total expenses for defined contribution plans | 421 | 440 | 429 | |
Total expenses for post-employment benefit plans | 705 | 794 | 690 | |
Employer contributions to mandatory German social security pension plan | 236 | 243 | 237 | |
Expenses for share-based payments: | ||||
Expenses for share-based payments, equity settled | [1] | 560 | 535 | 620 |
Expenses for share-based payments, cash settled | [1] | 1 | 22 | 3 |
Expenses for cash retention plans | [1] | 481 | 363 | 487 |
Expenses for severance payments | [2] | € 137 | € 94 | € 149 |
[1] | Including expenses for new hire awards and the acceleration of expenses not yet amortized due to the discontinuation of employment including those amounts which are recognized as part of the Groups restructuring expenses. | |||
[2] | Excluding the acceleration of expenses for deferred compensation awards not yet amortized. |
Additional Parenthetical Inform
Additional Parenthetical Information Note 35 (Detail: Text Values) - EUR (€) € in Millions | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 |
Additional Parenthtical Information [Abstract] | |||
Liability raised due to share-based payment transactions in cash | € 12 | € 23 | € 15 |
Grant volume of outstanding share awards | 1,700 | ||
thereof [Abstract] | |||
Recognized as compensation expense | 1,200 | ||
Not yet recognized | € 500 | ||
Shares issued to plan participants in February 2019, resulting from the vesting of DB Equity Plan awards granted in prior years (in shares) | 4.4 | ||
of which: vesting cycles under the cash plan variant of this DB Equity Plan for February 2019 (in units) | 160,000 | ||
Shares issued to plan participants in March 2019, resulting from the vesting of DB Equity Plan awards granted in prior years (in shares) | 9.1 | ||
of which: vesting cycles under the cash plan variant of this DB Equity Plan for March 2019 (in units) | 160,000 | ||
DWS Share based Plans [Abstract] | |||
Grant volume of outstanding share awards (approximately) | 23 | ||
of which: recognized as compensation expense | 4 | ||
of which: compensation expense for deferred share-based compensation not yet recognized (approximately) | 19 | ||
Total defined benefit obligation for post-employment medical plans | € 192 | 196 | € 196 |
Range of defined benefit obligation by plan assets in percent [Abstract] | |||
Bottom of Range | 90.00% | ||
Top of Range | 100.00% | ||
Other assets recognized in Net asset (liability) recognized | € 1,097 | 1,113 | |
Other liabilities recognized in Net asset (liability) recognized | 1,515 | 1,592 | |
Derivative transactions with Group entities with negative market value included in plan assets | € 692 | € 737 |
Income Taxes - Components of In
Income Taxes - Components of Income Tax Expense (Benefit) (Detail) - EUR (€) € in Millions | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Current tax expense (benefit): | |||
Tax expense (benefit) for current year | € 733 | € 874 | € 881 |
Adjustments for prior years | (20) | (145) | (23) |
Total current tax expense (benefit) | 713 | 729 | 858 |
Deferred tax expense (benefit): | |||
Origination and reversal of temporary difference, unused tax losses and tax credits | 316 | (113) | (276) |
Effect of changes in tax law and/or tax rate | (6) | 1,437 | (3) |
Adjustments for prior years | (34) | (90) | (33) |
Total deferred tax expense (benefit) | 276 | 1,234 | (312) |
Total income tax expense (benefit) | € 989 | € 1,963 | € 546 |
Income Taxes - Components of _2
Income Taxes - Components of Income Tax Expense (Benefit) (Detail: Text Values) - EUR (€) € in Millions | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Components of Income Tax Expense (Benefit) | |||
Income tax expense (benefit) for policyholder tax attributable to policyholder earnings | € 23 | ||
Total current tax expense benefits from previously unrecognized tax losses, tax credits and deductible temporary differences | € 5 | 7 | |
Reduction/(increase) of total deferred tax benefit due to previously unrecognized tax losses (tax credits/deductible tem-porary differences) and the reversal of previous write-downs of deferred tax assets and expenses arising from write-downs of deferred tax assets | € (253) | € (163) | € (38) |
Domestic income tax rate used for calculating deferred tax assets and liabilities | 31.30% | 31.30% | 31.30% |
From DB Group recognized deferred tax assets for entities which suffer a loss | € 6,500 | € 5,900 | |
Temporary differences associated with the Group's parent company's investments in subsidiaries, branches and associates and interests in joint ventures of which no deferred tax liabilities were recognized | € 27 | € 72 |
Income Taxes - Analysis of the
Income Taxes - Analysis of the Difference between the Amount (Expected Tax Expense at Domestic Income Tax Rate vs. Actual Income Tax Expense) (Detail) - EUR (€) € in Millions | 12 Months Ended | |||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | ||
Analysis of the Difference between the Amount (Expected Tax Expense at Domestic Income Tax Rate vs. Actual Income Tax Expense) | ||||
Expected tax expense (benefit) at domestic income tax rate of 31.3 % (31.3 % for 2017 and 2016) | € 416 | € 384 | € (254) | |
Foreign rate differential | 8 | (37) | (38) | |
Tax-exempt gains on securities and other income | (209) | (431) | (599) | |
Loss (income) on equity method investments | (19) | (21) | (19) | |
Nondeductible expenses | 340 | 540 | 1,074 | |
Impairments of goodwill | 0 | 0 | 250 | |
Changes in recognition and measurement of deferred tax assets | [1] | 253 | 159 | (45) |
Effect of changes in tax law and/or tax rate | (6) | 1,437 | (3) | |
Effect related to share-based payments | 133 | 14 | 66 | |
Effect of policyholder tax | 0 | 0 | 23 | |
Other | [1] | 73 | (82) | 91 |
Actual income tax expense (benefit) | € 989 | € 1,963 | € 546 | |
[1] | Current and deferred tax expense/(benefit) relating to prior years are mainly reflected in the line items Changes in recognition and measurement of deferred tax assets and Other. |
Income Taxes - Income Tax Charg
Income Taxes - Income Tax Charged or Credited to Equity (Detail) - EUR (€) € in Millions | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Income Tax Charged or Credited to Equity | |||
Actuarial gains/losses related to defined benefit plans | € 18 | € (23) | € 344 |
Net fair value gains (losses) attributable to credit risk related to financial liabilities designated as at fair value through profit or loss | (8) | 0 | 0 |
Financial assets available for sale: | |||
Unrealized net gains/losses arising during the period | 0 | 4 | 20 |
Net gains/losses reclassified to profit or loss | 0 | 99 | 81 |
Financial assets mandatory at fair value through other comprehensive income: | |||
Unrealized net gains/losses arising during the period | 48 | 0 | 0 |
Realized net gains/losses arising during the period (reclassified to profit or loss) | 86 | 0 | 0 |
Derivatives hedging variability of cash flows: | |||
Unrealized net gains/losses arising during the period | 1 | 4 | (14) |
Net gains/losses reclassified to profit or loss | 0 | 42 | 1 |
Other equity movement: | |||
Unrealized net gains/losses arising during the period | 91 | 2 | (71) |
Net gains/losses reclassified to profit or loss | 2 | (5) | 100 |
Income taxes (charged) credited to other comprehensive income | 238 | 123 | 461 |
Other income taxes (charged) credited to equity | € 1 | € 73 | € 93 |
Income Taxes - Major Components
Income Taxes - Major Components of Gross Deferred Income Tax Assets and Liabilities (Detail) - EUR (€) € in Millions | Dec. 31, 2018 | Dec. 31, 2017 | |
Deferred tax assets: | |||
Unused tax losses | [1] | € 2,934 | € 2,985 |
Unused tax credits | [1] | 160 | 387 |
Deductible temporary differences: | |||
Trading activities | [1] | 2,986 | 3,514 |
Employee benefits, including equity settled share based payments | [1] | 2,140 | 2,208 |
Loans and borrowings, including allowance for loans | [1] | 795 | 1,015 |
Fair value OCI (IFRS 9) | [1] | 33 | 5 |
Intangible Assets | [1] | 119 | 119 |
Accrued interest expense | [1] | 1,133 | 180 |
Other assets | [1] | 886 | 759 |
Other provisions | [1] | 180 | 271 |
Other liabilities | [1] | 21 | 42 |
Total deferred tax assets pre offsetting | [1] | 11,387 | 11,485 |
Taxable temporary differences: | |||
Trading activities, including derivatives | [1] | 3,038 | 3,794 |
Employee benefits, including equity settled share based payments | [1] | 312 | 266 |
Loans and borrowings, including allowance for loans, Taxable temporary differences | [1] | 345 | 144 |
Fair value OCI (IFRS 9) | [1] | 52 | 89 |
Intangible Assets | [1] | 453 | 336 |
Other assets | [1] | 344 | 270 |
Other provisions | [1] | 85 | 83 |
Other liabilities | [1] | 40 | 50 |
Total deferred tax liabilities pre offsetting | [1] | € 4,669 | € 5,032 |
[1] | Following the IFRS 9 introduction the presentation was changed and a more granular break down related to the type of temporary differences is provided. Comparatives were adjusted accordingly. |
Income Taxes - After Offsetting
Income Taxes - After Offsetting, Deferred Tax Assets and Liabilities (Detail) - EUR (€) € in Millions | Dec. 31, 2018 | Dec. 31, 2017 |
After Offsetting, Deferred Tax Assets and Liabilities | ||
Presented as deferred tax assets | € 7,230 | € 6,799 |
Presented as deferred tax liabilities | 512 | 346 |
Net deferred tax assets | € 6,718 | € 6,453 |
Income Taxes - Items where no D
Income Taxes - Items where no Deferred Tax Assets were recognized (Detail) - EUR (€) € in Millions | Dec. 31, 2018 | Dec. 31, 2017 | |
Items where no Deferred Tax Assets were recognized | |||
Deductible temporary differences | [1] | € (9) | € (34) |
Not expiring | [1] | (5,738) | (4,875) |
Expiring in subsequent period | [1] | (52) | (19) |
Expiring after subsequent period | [1] | (289) | (450) |
Unused tax losses | [1] | (6,079) | (5,344) |
Expiring after subsequent period | [1] | 0 | (11) |
Unused tax credits | [1] | € (1) | € (12) |
[1] | Amounts in the table refer to deductible temporary differences, unused tax losses and tax credits for federal income tax purposes. |
Derivatives - Value of Derivati
Derivatives - Value of Derivatives held as Fair Value Hedges (Detail) - Derivatives held as Fair Value Hedges [Member] - EUR (€) € in Millions | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Value of Derivatives held as Fair Value Hedges [line items] | ||
Assets | € 5,462 | € 5,936 |
Liabilities | 975 | € 562 |
Nominal amount | 156,025 | |
Fair value changes used for hedge effectiveness | (557) | |
Hedge ineffectiveness | € 37 |
Derivatives - Fair Value Hedges
Derivatives - Fair Value Hedges (Detail) € in Millions | Dec. 31, 2018EUR (€) |
Carrying amount of Financial instruments designated as fair value hedges [Member] | Assets [Member] | |
Fair Value Hedges [Line Items] | |
Financial assets at fair value through other comprehensive income | € 16,900 |
Loans at amortized cost | 8,794 |
Long-term debt | 0 |
Other Assets/ Liabilities | 0 |
Carrying amount of Financial instruments designated as fair value hedges [Member] | Liabilities [Member] | |
Fair Value Hedges [Line Items] | |
Financial assets at fair value through other comprehensive income | 0 |
Loans at amortized cost | 0 |
Long-term debt | 87,356 |
Other Assets/ Liabilities | 0 |
Accumulated amount of fair value hedge adjustments - Total [Member] | Assets [Member] | |
Fair Value Hedges [Line Items] | |
Financial assets at fair value through other comprehensive income | 326 |
Loans at amortized cost | 59 |
Long-term debt | 0 |
Other Assets/ Liabilities | 0 |
Accumulated amount of fair value hedge adjustments - Total [Member] | Liabilities [Member] | |
Fair Value Hedges [Line Items] | |
Financial assets at fair value through other comprehensive income | 0 |
Loans at amortized cost | 0 |
Long-term debt | 2,292 |
Other Assets/ Liabilities | 0 |
Accumulated amount of fair value hedge adjustments - Terminated hedge relationships [Member] | Assets [Member] | |
Fair Value Hedges [Line Items] | |
Financial assets at fair value through other comprehensive income | (35) |
Loans at amortized cost | 1 |
Long-term debt | 0 |
Other Assets/ Liabilities | 0 |
Accumulated amount of fair value hedge adjustments - Terminated hedge relationships [Member] | Liabilities [Member] | |
Fair Value Hedges [Line Items] | |
Financial assets at fair value through other comprehensive income | 0 |
Loans at amortized cost | 0 |
Long-term debt | 369 |
Other Assets/ Liabilities | 0 |
Fair Value changes used for hedge effectiveness [Member] | Hedged Items [Domain Member] | |
Fair Value Hedges [Line Items] | |
Financial assets at fair value through other comprehensive income | (31) |
Loans at amortized cost | 118 |
Long-term debt | 506 |
Other Assets/ Liabilities | € 0 |
Derivatives - Value of Deriva_2
Derivatives - Value of Derivatives held as Cash Flow Hedges (Detail) - Derivatives held as Cash Flow Hedges [Member] - EUR (€) € in Millions | Dec. 31, 2018 | Dec. 31, 2017 |
Value of Derivatives held as Cash Flow Hedges [line items] | ||
Assets | € 29 | € 37 |
Liabilities | 1 | € 3 |
Nominal amount | 3,689 | |
Fair value changes used for hedge effectiveness | € 0 |
Derivatives - Cash Flow Hedges
Derivatives - Cash Flow Hedges Schedule (Period expected to occur and to affect the Income Statement) (Detail) - EUR (€) € in Millions | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Within 1 year [Member] | ||
As of | ||
Cash inflows from assets | € 0 | € 28 |
Cash outflows from liabilities | 0 | 0 |
Net cash flows | 0 | 28 |
1-3 years | ||
As of | ||
Cash inflows from assets | 0 | 18 |
Cash outflows from liabilities | 0 | 0 |
Net cash flows | 0 | 18 |
3-5 years | ||
As of | ||
Cash inflows from assets | 0 | 0 |
Cash outflows from liabilities | 0 | 13 |
Net cash flows | 0 | (13) |
Over 5 years | ||
As of | ||
Cash inflows from assets | 0 | 0 |
Cash outflows from liabilities | 0 | 0 |
Net cash flows | € 0 | € 0 |
Derivatives - Cash Flow Hedge B
Derivatives - Cash Flow Hedge Balances (Detail) - EUR (€) € in Millions | 12 Months Ended | |||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | ||
Cash Flow Hedge Balances | ||||
Reported in Equity | [1] | € 25 | € 28 | € 198 |
thereof relates to terminated programs | 0 | 0 | 0 | |
Gains (losses) posted to equity for the year ended | (3) | (34) | 62 | |
Gains (losses) removed from equity for the year ended | 0 | 136 | 2 | |
Ineffectiveness recorded within P&L | € 0 | € 0 | € (17) | |
[1] | Reported in equity refers to accumulated other comprehensive income as presented in the Consolidated Balance Sheet. |
Derivatives - Cash Flow Hedge_2
Derivatives - Cash Flow Hedge Balances (Detail: Text Values) € in Millions | 12 Months Ended | ||
Dec. 31, 2018EUR (€) | Dec. 31, 2017EUR (€) | Dec. 31, 2016EUR (€) | |
Cash Flow Hedge Balances | |||
Gains (losses) recognized on the hedging instruments | € (557) | € (1,589) | € (600) |
Gains (losses) on the hedged items, which were attributable to the hedged risk | 593 | 1,252 | 1,000 |
Losses recognized due to hedge ineffectiveness which includes the forward points element of the hedging instruments | € 345 | € 348 | € 437 |
Average foreign currency rate for the Groups foreign currency Euro/USD swap portfolio | 0.82 |
Derivatives - Value of Deriva_3
Derivatives - Value of Derivatives held as Net Investment Hedges (Detail) - Derivatives Held as Net Investment Hedges [Member] - EUR (€) € in Millions | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | ||
Value of Derivatives held as Net Investment Hedges [Line Items] | |||
Assets | € 718 | € 612 | |
Liabilities | 1,710 | € 904 | |
Nominal amount | 43,456 | ||
Fair value changes used for hedge effectiveness | (1,380) | ||
Fair value changes recognised in Equity | [1] | 1,742 | |
Hedge ineffectiveness | € (345) | ||
[1] | Reported in equity refers to accumulated other comprehensive income as presented in the Consolidated Balance Sheet |
Derivatives - Profile of NIH he
Derivatives - Profile of NIH hedging instruments (Detail) € in Millions | Dec. 31, 2018EUR (€) |
Within 1 year [Member] | |
As of | |
Nominal amount Foreign exchange forwards | € 28,808 |
Nominal amount Foreign exchange swaps | 3,972 |
Total | 32,780 |
1-3 years | |
As of | |
Nominal amount Foreign exchange forwards | 110 |
Nominal amount Foreign exchange swaps | 5,601 |
Total | 5,711 |
3-5 years | |
As of | |
Nominal amount Foreign exchange forwards | 13 |
Nominal amount Foreign exchange swaps | 1,982 |
Total | 1,995 |
Over 5 years | |
As of | |
Nominal amount Foreign exchange forwards | 0 |
Nominal amount Foreign exchange swaps | 2,970 |
Total | € 2,970 |
Related Party Transactions - Co
Related Party Transactions - Compensation Expense of Key Management Personnel (Detail) - EUR (€) € in Millions | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Compensation Expense of Key Management Personnel [Abstract] | |||
Short-term employee benefits | € 41 | € 39 | € 40 |
Post-employment benefits | 10 | 10 | 9 |
Other long-term benefits | 2 | 7 | 7 |
Termination benefits | 32 | 3 | 0 |
Share-based payment | 2 | 22 | 12 |
Total | € 87 | € 81 | € 68 |
Related Party Transactions - _2
Related Party Transactions - Compensation Expense of Key Management Personnel (Detail: Text Values) - EUR (€) € in Millions | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Compensation Expense of Key Management Personnel [Abstract] | |||
Aggregated compensation for employee representatives and former management board members on the Supervisory Board paid for their services as employees of Deutsche Bank or status as former employees (retirement, pension and deferred compensation) | € 1 | € 1 | € 1 |
Issued loans and commitments to key management personnel | 45 | 48 | |
Received deposits from key management personnel | 34 | 123 | |
Loans past due from transactions with subsidiaries, joint ventures and associates | 0 | 0 | |
Collaterals held for loans from transactions with subsidiaries, joint ventures and associates | 14 | 14 | |
Trading assets and positive market values from derivative financial transactions with associated companies | 2 | 6 | |
Trading liabilities and negative market values from derivative financial transactions with associated companies | 0 | € 0 | |
Remeasurement gain due to discontinuation of significant influence over the equity method investment in TradeWeb Markets LLC | € 84 |
Related Party Transactions - Tr
Related Party Transactions - Transactions with Subsidiaries, Joint Ventures and Associates - Loans (Detail) - EUR (€) € in Millions | 12 Months Ended | |||
Dec. 31, 2018 | Dec. 31, 2017 | |||
Loans (Transactions with Subsidiaries, Joint Ventures and Associates) | ||||
Loans outstanding, beginning of year | € 256 | [1] | € 297 | |
Movement in loans during the period | [2] | (21) | (26) | |
Changes in the group of consolidated companies | 0 | (1) | ||
Exchange rate changes/other | (7) | (15) | ||
Loans outstanding, end of year | [1] | 228 | 256 | |
Other credit risk related transactions: | ||||
Allowance for loan losses | 0 | 0 | ||
Provision for loan losses | 0 | 0 | ||
Guarantees and commitments | € 3 | € 9 | ||
[1] | Loans past due were EUR0million as of December 31, 2018 and EUR0million as of December 31, 2017. For the total loans the Group held collateral of EUR14million and EUR14million as of December 31, 2018 and December 31, 2017, respectively. | |||
[2] | Net impact of loans issued and loans repayment during the year is shown as Movement in loans during the period. |
Related Party Transactions - _3
Related Party Transactions - Transactions with Subsidiaries, Joint Ventures and Associates - Deposits (Detail) - EUR (€) € in Millions | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | ||
Deposits (Transactions with Subsidiaries, Joint Ventures and Associates) | |||
Deposits outstanding, beginning of year | € 67 | € 87 | |
Movement in deposits during the period | [1] | 2 | (15) |
Changes in the group of consolidated companies | 0 | 0 | |
Exchange rate changes/other | 0 | (4) | |
Deposits outstanding, end of year | € 68 | € 67 | |
[1] | Net impact of deposits received and deposits repaid during the year is shown as Movement in deposits during the period. |
Related Party Transactions - Su
Related Party Transactions - Summary of Transactions with Related Party Pension Plans (Detail) - EUR (€) € in Millions | Dec. 31, 2018 | Dec. 31, 2017 |
Summary of Transactions with Related Party Pension Plans | ||
Equity shares issued by the Group held in plan assets | € 1 | € 0 |
Other assets | 0 | 0 |
Fees paid from plan assets to asset managers of the Group | 24 | 25 |
Market value of derivatives with a counterparty of the Group | (692) | (737) |
Notional amount of derivatives with a counterparty of the Group | € 7,325 | € 10,150 |
Subsidiaries with significant n
Subsidiaries with significant non-controlling interests (Detail) - DWS Group GmbH and Co. KGaA [Member] - EUR (€) | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Subsidiaries with significant non-controlling interests [Line Items] | ||
Proportion of ownership interests and voting rights held by non-controlling interests | 20.51% | 0.00% |
Net income (loss) attributable to noncontrolling interests | € 58 | € 0 |
Accumulated non-controlling interests of the subsidiary | 1,355 | 0 |
Dividends paid to noncontrolling interests | 0 | 0 |
Summarised financial information [Abstract] | ||
Total assets | 10,694 | 11,226 |
Total liabilities | 4,155 | 4,860 |
Total net revenues | 2,259 | 2,509 |
Net income (loss) | 391 | 634 |
Total comprehensive income (loss), net of tax | € 589 | € 604 |
Information on Subsidiaries - C
Information on Subsidiaries - Carrying Amounts of Assets and Liabilities to which Restrictions Apply (Detail) - EUR (€) € in Millions | Dec. 31, 2018 | Dec. 31, 2017 |
Total assets [Member] | ||
Carrying Amounts of Assets and Liabilities to which Restrictions Apply [line items] | ||
Interest-earning deposits with banks | € 176,022 | € 210,481 |
Financial assets at fair value through profit or loss | 573,344 | 636,970 |
Financial assets available for sale | 49,397 | |
Financial assets at fair value through other comprehensive income | 51,182 | |
Loans | 400,297 | 401,699 |
Other | 147,293 | 176,186 |
Total | 1,348,137 | 1,474,732 |
Restricted assets [Member] | ||
Carrying Amounts of Assets and Liabilities to which Restrictions Apply [line items] | ||
Interest-earning deposits with banks | 188 | 772 |
Financial assets at fair value through profit or loss | 48,320 | 58,210 |
Financial assets available for sale | 9,915 | |
Financial assets at fair value through other comprehensive income | 4,375 | |
Loans | 76,573 | 71,971 |
Other | 1,991 | 13,594 |
Total | € 131,447 | € 154,462 |
Information on Subsidiaries - P
Information on Subsidiaries - Parenthetical Information Note 39 (Detail: Text Values) | Dec. 31, 2018EUR (€) | Dec. 31, 2017EUR (€) |
Information on Subsidiaries [Abstract] | ||
Number of consolidated entities in the Group | 707 | 845 |
Number of consolidated structured entities in the Group | 251 | 305 |
Number of entities controlled by the Group are directly or indirectly held by the Group at 100 % of the ownership interests (share of capital) | 506 | 612 |
Number of consolidated entities third parties also hold ownership interests (noncontrolling interests) | 201 | 233 |
Restricted liquidity reserves in EUR b. | € 35 | € 24 |
Structured Entities - Carrying
Structured Entities - Carrying amounts of assets & liabilities recognised in its financial statements relating to DBs interests (Detail) - EUR (€) € in Millions | Dec. 31, 2018 | Dec. 31, 2017 | |
Repackaging and Investment Entities [Member] | |||
Assets [Abstract] | |||
Cash and central bank balances | € 0 | € 0 | |
Interbank balances (w/o central banks) | 1 | 63 | |
Central bank funds sold and securities purchased under resale agreements | 0 | 105 | |
Securities borrowed | 0 | 0 | |
Total financial assets at fair value through profit or loss | 342 | 569 | |
Trading assets | 244 | 349 | |
Positive market values from derivative financial instruments | 98 | 175 | |
Financial assets designated at fair value through profit or loss | 0 | 44 | |
Financial assets at fair value through other comprehensive income | 0 | ||
Financial assets available for sale | 0 | ||
Loans | 220 | 146 | |
Other assets | 5 | 50 | |
Total assets | 568 | 934 | |
Liabilities [Abstract] | |||
Total financial liabilities at fair value through profit or loss | 102 | 120 | |
Negative market values from derivative financial instruments | 102 | 120 | |
Other short-term borrowings | 0 | 0 | |
Total liabilities | 102 | 120 | |
Off-balance sheet exposure | 0 | 0 | |
Total | 466 | 814 | |
Size of structured entity | 2,514 | 6,833 | |
Third Party Funding Entities [Member] | |||
Assets [Abstract] | |||
Cash and central bank balances | 0 | 0 | |
Interbank balances (w/o central banks) | 14 | 0 | |
Central bank funds sold and securities purchased under resale agreements | 508 | 229 | |
Securities borrowed | 0 | 13 | |
Total financial assets at fair value through profit or loss | 4,578 | 4,057 | |
Trading assets | 3,480 | 3,490 | |
Positive market values from derivative financial instruments | 571 | 553 | |
Financial assets designated at fair value through profit or loss | 526 | 13 | |
Financial assets at fair value through other comprehensive income | 286 | ||
Financial assets available for sale | 1,039 | ||
Loans | 40,552 | 37,352 | |
Other assets | 519 | 192 | |
Total assets | 46,456 | 42,882 | |
Liabilities [Abstract] | |||
Total financial liabilities at fair value through profit or loss | 56 | 73 | |
Negative market values from derivative financial instruments | 56 | 73 | |
Other short-term borrowings | 0 | 0 | |
Total liabilities | 56 | 73 | |
Off-balance sheet exposure | 4,363 | 10,079 | |
Total | 50,762 | 52,888 | |
Size of structured entity | 60,525 | 90,664 | |
Securitizations [Member] | |||
Assets [Abstract] | |||
Cash and central bank balances | 0 | 0 | |
Interbank balances (w/o central banks) | 0 | 0 | |
Central bank funds sold and securities purchased under resale agreements | 8 | 18 | |
Securities borrowed | 0 | 0 | |
Total financial assets at fair value through profit or loss | 5,956 | 5,445 | |
Trading assets | 4,567 | 5,130 | |
Positive market values from derivative financial instruments | 122 | 105 | |
Financial assets designated at fair value through profit or loss | 1,266 | 210 | |
Financial assets at fair value through other comprehensive income | 240 | ||
Financial assets available for sale | 384 | ||
Loans | 27,322 | 18,533 | |
Other assets | 216 | 173 | |
Total assets | 33,741 | 24,552 | |
Liabilities [Abstract] | |||
Total financial liabilities at fair value through profit or loss | 3 | 41 | |
Negative market values from derivative financial instruments | 3 | 41 | |
Other short-term borrowings | 0 | 0 | |
Total liabilities | 3 | 41 | |
Off-balance sheet exposure | 9,524 | 9,256 | |
Total | 43,261 | 33,767 | |
Size of structured entity | 284,181 | 281,826 | |
Funds [Member] | |||
Assets [Abstract] | |||
Cash and central bank balances | 0 | 0 | |
Interbank balances (w/o central banks) | 28 | 270 | |
Central bank funds sold and securities purchased under resale agreements | 1,397 | 1,827 | |
Securities borrowed | 461 | 11,065 | |
Total financial assets at fair value through profit or loss | 77,166 | 60,057 | |
Trading assets | 9,297 | 12,380 | |
Positive market values from derivative financial instruments | 6,516 | 8,670 | |
Financial assets designated at fair value through profit or loss | 61,353 | 39,007 | |
Financial assets at fair value through other comprehensive income | 832 | ||
Financial assets available for sale | 730 | ||
Loans | 8,370 | 18,050 | |
Other assets | 10,464 | 21,087 | |
Total assets | 98,719 | 113,085 | |
Liabilities [Abstract] | |||
Total financial liabilities at fair value through profit or loss | 15,482 | 13,486 | |
Negative market values from derivative financial instruments | 15,482 | 13,486 | |
Other short-term borrowings | 6,596 | 9,533 | |
Total liabilities | 22,078 | 23,019 | |
Off-balance sheet exposure | 3,028 | 8,377 | [1] |
Total | 79,668 | 98,443 | [1] |
Size of structured entity | 2,970,958 | 2,181,810 | |
Total [Member] | |||
Assets [Abstract] | |||
Cash and central bank balances | 0 | 0 | |
Interbank balances (w/o central banks) | 43 | 333 | |
Central bank funds sold and securities purchased under resale agreements | 1,913 | 2,178 | |
Securities borrowed | 461 | 11,078 | |
Total financial assets at fair value through profit or loss | 88,041 | 70,128 | |
Trading assets | 17,587 | 21,349 | |
Positive market values from derivative financial instruments | 7,308 | 9,504 | |
Financial assets designated at fair value through profit or loss | 63,145 | 39,275 | |
Financial assets at fair value through other comprehensive income | 1,358 | ||
Financial assets available for sale | 2,153 | ||
Loans | 74,081 | ||
Other assets | 11,203 | 21,502 | |
Total assets | 179,483 | 181,453 | |
Liabilities [Abstract] | |||
Total financial liabilities at fair value through profit or loss | 15,644 | 13,720 | |
Negative market values from derivative financial instruments | 15,644 | 13,720 | |
Other short-term borrowings | 6,596 | 9,533 | |
Total liabilities | 22,240 | 23,253 | |
Off-balance sheet exposure | 16,915 | 27,712 | [1] |
Total | € 174,158 | € 185,912 | [1] |
[1] | The comparatives have been adjusted. |
Structured Entities - Parenthet
Structured Entities - Parenthetical Information Note 40 (Detail: Text Values) - EUR (€) € in Millions | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Structured Entities [Abstract] | ||
Notional value of liquidity facilities and guarantees provided to consolidated funds | € 2,957 | € 7,238 |
Notional related to positive replacement values of derivatives to unconsolidated structured entities | 371,714 | 327,000 |
Notional related to negative replacement values of derivatives to unconsolidated structured entities | 1,310,721 | 1,146,000 |
Notional related to off balance sheet commitments to unconsolidated structured entities | 16,915 | 27,711 |
Total trading assets | 17,587 | 21,300 |
thereof [Abstract] | ||
Securitizations | 4,567 | 5,100 |
Funds structured entities | 9,297 | 12,400 |
Loans consisting of investments in securitization tranches and financing to Third party funding entities | 76,469 | 74,100 |
Other assets primarily consisting of prime brokerage receivables and cash margin balances | 11,203 | 21,500 |
Gross revenues from sponsored entities where the Group did not hold an interest | (220) | 56 |
Aggregated carrying amounts of assets transferred to sponsored unconsolidated structured entities for securitization | 4,100 | 2,100 |
Aggregated carrying amounts of assets transferred to sponsored unconsolidated structured entities for repackaging and investment entities | € 2,369 | € 26 |
Current and Non-Current Asset_2
Current and Non-Current Assets (actual & previous) (Detail) - EUR (€) € in Millions | Dec. 31, 2018 | Dec. 31, 2017 |
Amounts recovered or settled within one year [Member] | ||
Current and Non-Current Assets (actual & previous) [Line Items] | ||
Cash and central bank balances | € 188,691 | € 225,537 |
Interbank balances (w/o central banks) | 8,282 | 8,681 |
Central bank funds sold and securities purchased under resale agreements | 5,861 | 9,216 |
Securities borrowed | 3,396 | 16,710 |
Financial assets at fair value through profit or loss | 536,367 | 623,075 |
Financial assets at fair value through other comprehensive income | 16,725 | |
Financial assets available for sale | 9,882 | |
Equity method investments | 0 | 0 |
Loans | 110,828 | 113,190 |
Securities held to maturity | 0 | |
Property and equipment | 0 | 0 |
Goodwill and other intangible assets | 0 | 0 |
Other assets | 82,588 | 95,383 |
Assets for current tax | 396 | 840 |
Total assets before deferred tax assets | 953,134 | 1,102,514 |
Amounts recovered or settled after one year [Member] | ||
Current and Non-Current Assets (actual & previous) [Line Items] | ||
Cash and central bank balances | 40 | 118 |
Interbank balances (w/o central banks) | 599 | 585 |
Central bank funds sold and securities purchased under resale agreements | 2,361 | 755 |
Securities borrowed | 0 | 22 |
Financial assets at fair value through profit or loss | 36,977 | 13,895 |
Financial assets at fair value through other comprehensive income | 34,457 | |
Financial assets available for sale | 39,514 | |
Equity method investments | 879 | 866 |
Loans | 289,468 | 288,510 |
Securities held to maturity | 3,170 | |
Property and equipment | 2,421 | 2,663 |
Goodwill and other intangible assets | 9,141 | 8,839 |
Other assets | 10,856 | 6,108 |
Assets for current tax | 574 | 375 |
Total assets before deferred tax assets | 387,774 | 365,419 |
Total [Member] | ||
Current and Non-Current Assets (actual & previous) [Line Items] | ||
Cash and central bank balances | 188,732 | 225,655 |
Interbank balances (w/o central banks) | 8,881 | 9,265 |
Central bank funds sold and securities purchased under resale agreements | 8,222 | 9,971 |
Securities borrowed | 3,396 | 16,732 |
Financial assets at fair value through profit or loss | 573,344 | 636,970 |
Financial assets at fair value through other comprehensive income | 51,182 | |
Financial assets available for sale | 49,397 | |
Equity method investments | 879 | 866 |
Loans | 400,297 | 401,699 |
Securities held to maturity | 3,170 | |
Property and equipment | 2,421 | 2,663 |
Goodwill and other intangible assets | 9,141 | 8,839 |
Other assets | 93,444 | 101,491 |
Assets for current tax | 970 | 1,215 |
Total assets before deferred tax assets | 1,340,907 | 1,467,933 |
Deferred tax assets | 7,230 | 6,799 |
Total assets | € 1,348,137 | € 1,474,732 |
Current and Non-Current Liabili
Current and Non-Current Liabilities (actual & previous) (Detail) - EUR (€) € in Millions | Dec. 31, 2018 | Dec. 31, 2017 |
Amounts recovered or settled within one year [Member] | ||
Current and Non-Current Liabilities (actual & previous) [Line Items] | ||
Deposits | € 531,700 | € 550,987 |
Central bank funds purchased and securities sold under repurchase agreements | 4,866 | 17,591 |
Securities loaned | 3,359 | 6,688 |
Financial liabilities at fair value through profit or loss | 410,409 | 473,165 |
Other short-term borrowings | 14,158 | 18,411 |
Other liabilities | 115,511 | 127,388 |
Provisions | 2,711 | 4,158 |
Liabilities for current tax | 286 | 366 |
Long-term debt | 47,317 | 46,403 |
Trust preferred securities | 3,168 | 4,825 |
Total liabilities before deferred tax liabilities | 1,133,485 | 1,249,981 |
Amounts recovered or settled after one year [Member] | ||
Current and Non-Current Liabilities (actual & previous) [Line Items] | ||
Deposits | 32,705 | 30,886 |
Central bank funds purchased and securities sold under repurchase agreements | 1 | 515 |
Securities loaned | 0 | 1 |
Financial liabilities at fair value through profit or loss | 5,271 | 5,471 |
Other short-term borrowings | 0 | 0 |
Other liabilities | 2,002 | 4,820 |
Provisions | 0 | 0 |
Liabilities for current tax | 658 | 635 |
Long-term debt | 104,766 | 113,313 |
Trust preferred securities | 0 | 666 |
Total liabilities before deferred tax liabilities | 145,403 | 156,306 |
Total [Member] | ||
Current and Non-Current Liabilities (actual & previous) [Line Items] | ||
Deposits | 564,405 | 581,873 |
Central bank funds purchased and securities sold under repurchase agreements | 4,867 | 18,105 |
Securities loaned | 3,359 | 6,688 |
Financial liabilities at fair value through profit or loss | 415,680 | 478,636 |
Other short-term borrowings | 14,158 | 18,411 |
Other liabilities | 117,513 | 132,208 |
Provisions | 2,711 | 4,158 |
Liabilities for current tax | 944 | 1,001 |
Long-term debt | 152,083 | 159,715 |
Trust preferred securities | 3,168 | 5,491 |
Total liabilities before deferred tax liabilities | 1,278,887 | 1,406,287 |
Deferred tax liabilities | 512 | 346 |
Total liabilities | € 1,279,400 | € 1,406,633 |
Parenthetical Information Regul
Parenthetical Information Regulatory Capital (Detail: Text Values) € in Millions, ¥ in Millions, $ in Millions | 12 Months Ended | |||
Dec. 31, 2018EUR (€)shares | Dec. 31, 2017shares | Dec. 31, 2018JPY (¥)shares | Dec. 31, 2018USD ($)shares | |
Parenthetical Information Regulatory Capital [Abstract] | ||||
Recognition cap in 2018 | 40.00% | 40.00% | 40.00% | |
Cap decrease from 2019 to 2020 per year | 10.00% | |||
Buy-back of shares (in shares) [Abstract] | ||||
Approval from the Annual General Meeting (AGM) | shares | 206.7 | 206.7 | 206.7 | 206.7 |
Thereof: can be purchased by using derivatives | shares | 103.3 | 103.3 | 103.3 | 103.3 |
Included: derivatives with a maturity exceeding 18 months | shares | 41.3 | 41.3 | 41.3 | 41.3 |
Buy-back of shares end of period AGM | shares | 9.3 | 22.8 | ||
Thereof: through exercise of call options | shares | 4.4 | |||
Number of shares held in Treasury from buybacks as of 2018 AGM | shares | 1.3 | 1.3 | 1.3 | |
Number of shares held in Treasury from buybacks as of end of period | shares | 1.2 | 1.2 | 1.2 | |
Capital increase [Abstract] | ||||
Authorized capital available to the Management Board | € 2,560 | |||
Authorized capital available to the Management Board in shares | shares | 1,000 | 1,000 | 1,000 | |
Conditional capital against cash | € 512 | |||
Conditional capital against cash in shares | shares | 200 | 200 | 200 | |
Additional conditional capital for equity compensation | € 51 | |||
Additional conditional capital for equity compensation in shares | shares | 20 | 20 | 20 | |
Authorized issuance of participatory notes and other Hybrid Debt Securities qualify as Additional Tier 1 capital with an equivalent value in EUR | € 8,000 | |||
Hybrid Tier 1 capital instruments [Abstract] | ||||
Reduction at the beginning of each financial year (phase out) | 10.00% | |||
Reduction at the beginning of each financial year (phase out) | € 1,300 | |||
Eligible Additional Tier1 instruments | 7,600 | |||
Thereof: newly issued AT1 Notes | 4,600 | |||
Thereof: legacy Hybrid Tier 1 instruments recognizable during the transition period | 3,000 | |||
Additional Tier 1 instruments recognized under fully loaded CRR/CRD 4 rules | 4,600 | |||
Notional amount redeemed legacy Hybrid Tier 1 instrument (1) | 1,000 | |||
Eligible equivalent amount of redeemed legacy Hybrid Tier 1 instrument (1) | 1,600 | |||
Notional amount of redeemed legacy Hybrid Tier 1 instrument in U.S. Dollar (2) | $ | $ 2,000 | |||
Eligible equivalent amount of redeemed legacy Hybrid Tier 1 instrument (2) | 1,000 | |||
Tier 2 capital instruments [Abstract] | ||||
Total Tier 2 capital instruments recognized during the transition period under CRR/CRD 4 | 6,200 | |||
Gross notional value of Tier 2 capital instruments | 7,500 | |||
Tier 2 instruments recognized under fully loaded CRR/CRD 4 rules | 9,200 | |||
Thereof: legacy Hybrid Tier 1 capital instruments only recognizable as Additional Tier 1 capital during the transitional period | 3,000 | |||
Notional amount of redeemed Tier 2 capital instrument (1) in JPY | ¥ | ¥ 21,000 | |||
Eligible equivalent amount of redeemed Tier 2 capital instrument (1) | 100 | |||
Notional amount of redeemed Tier 2 capital instrument (2) | ¥ | ¥ 3,000 | |||
Eligible equivalent amount of redeemed Tier 2 capital instrument (2) | € 0 | |||
Phased in rate of CET 1 regulatory adjustments under CRR/CRD 4 | 100.00% | 100.00% | 100.00% | |
Phase-out rate of minority interest only recognizable under the transitional rules | 100.00% | 100.00% | 100.00% | |
DWS IPO [Abstract] | ||||
CET 1 contribution reflected in Capital instruments | € 900 | |||
Thereof: Related share premium accounts and other reserves | 100 | |||
Thereof: minority interest in Other | 800 | |||
Other regulatory adjustments under CRR/CRD 4 | 895 | |||
Including: capital deduction effective from January 2018 onwards, based on ECB guidance and following the EBA Guidelines on irrevocable payment commitments related to the Single Resolution Fund and the Deposit Guarantee Scheme | 600 | |||
Including: capital deduction effective from October 2016 onwards based on a notification by the ECB pursuant to Article 16(1)(c), 16(2)(b) and (j) of Regulation (EU) No 1024/2013 | € 300 |
Management Report - Risk and Ca
Management Report - Risk and Capital Performance - Own Funds Template, incl. RWA and capital ratios (Detail) - CCR/CRD 4 [Member] - EUR (€) € in Millions | 12 Months Ended | |||
Dec. 31, 2018 | [2] | Dec. 31, 2017 | ||
Common Equity Tier 1 (CET 1) capital: instruments and reserves [Abstract] | ||||
Capital instruments and the related share premium accounts | [1] | € 45,515 | € 45,195 | |
Retained earnings | 16,297 | 17,977 | ||
Accumulated other comprehensive income (loss), net of tax | 382 | 660 | ||
Independently reviewed interim profits net of any foreseeable charge or dividend | [3] | 0 | (751) | |
Other | [1] | 846 | 33 | |
Common Equity Tier 1 (CET 1) capital before regulatory adjustments | 63,041 | 63,114 | ||
Common Equity Tier 1 (CET 1) capital: regulatory adjustments [Abstract] | ||||
Additional value adjustments (negative amount) | (1,504) | (1,204) | ||
Other prudential filters (other than additional value adjustments) | (329) | (74) | ||
Goodwill and other intangible assets (net of related tax liabilities) (negative amount) | (8,566) | (6,715) | ||
Deferred tax assets that rely on future profitability excluding those arising from temporary differences (net of related tax liabilities where the conditions in Art. 38 (3) CRR are met) (negative amount) | (2,758) | (2,403) | ||
Negative amounts resulting from the calculation of expected loss amounts | [4] | (367) | (408) | |
Defined benefit pension fund assets (negative amount) | (1,111) | (900) | ||
Direct, indirect and synthetic holdings by an institution of own CET 1 instruments (negative amount) | (25) | (117) | ||
Direct, indirect and synthetic holdings by the institution of the CET 1 instruments of financial sector entities where the institution has a significant investment in those entities (amount above the 10 % / 15 % thresholds and net of eligible short positions) (negative amount) | 0 | 0 | ||
Deferred tax assets arising from temporary differences (net of related tax liabilities where the conditions in Art. 38 (3) CRR are met) (amount above the 10 % / 15 % thresholds) (negative amount) | 0 | 0 | ||
Other regulatory adjustments | [5] | (895) | (485) | |
Total regulatory adjustments to Common Equity Tier 1 (CET 1) capital | (15,555) | (12,306) | ||
Common Equity Tier 1 (CET 1) capital | 47,486 | 50,808 | ||
Additional Tier 1 (AT1) capital: instruments [Abstract] | ||||
Capital instruments and the related share premium accounts | 4,676 | 4,676 | ||
Amount of qualifying items referred to in Art. 484 (4) CRR and the related share premium accounts subject to phase out from AT1 | 3,009 | 3,904 | ||
Additional Tier 1 (AT1) capital before regulatory adjustments | 7,685 | 8,579 | ||
Additional Tier 1 (AT1) capital: regulatory adjustments [Abstract] | ||||
Direct, indirect and synthetic holdings by an institution of own AT1 instruments (negative amount) | (80) | (26) | ||
Residual amounts deducted from AT1 capital with regard to deduction from CET 1 capital during the transitional period pursuant to Art. 472 CRR | 0 | (1,730) | ||
Other regulatory adjustments | 0 | 0 | ||
Total regulatory adjustments to Additional Tier 1 (AT1) capital | (80) | (1,756) | ||
Additional Tier 1 (AT1) capital | 7,604 | 6,823 | ||
Tier 1 capital (T1 = CET 1 + AT1) | 55,091 | 57,631 | ||
Tier 2 (T2) capital | 6,202 | 6,384 | ||
Total Capital | 61,292 | 64,016 | ||
Total risk-weighted assets | 350,432 | 343,316 | ||
Capital ratios [Abstract] | ||||
Common Equity Tier 1 capital ratio (as a percentage of risk-weighted assets) | 14 | 15 | ||
Tier 1 capital ratio (as a percentage of risk-weighted assets) | 16 | 17 | ||
Total capital ratio (as a percentage of risk-weighted assets) | € 17 | € 19 | ||
[1] | Our IPO of DWS led to a EUR0.9billion CET 1 contribution which is reflected in Capital instruments, related share premium accounts and other reserves at EUR0.1billion and minority interest in Other at EUR0.8billion. | |||
[2] | With effect from January1, 2018, the CRR/CRD4 transitional (or phase-in) rules under which CET1 regulatory adjustments were phased in have reached a rate of 100%, together with the 100% phase-out rate of minority interest only recognizable under the transitional rules. | |||
[3] | No interim profits to be recognized as per ECB Decision (EU) 2015/656 in accordance with the Article26(2) of Regulation (EU) No575/2013 (ECB/2015/4). | |||
[4] | Based on Article 159 CRR and recent guidance provided by EBA (Q&A 2017_3426) published on January 18, 2019 only unearned credit spread additional value adjustments are used as specific credit risk adjustments. | |||
[5] | Includes EUR0.6billion capital deduction effective from January 2018 onwards, based on ECB guidance and following the EBA Guidelines on irrevocable payment commitments related to the Single Resolution Fund and the Deposit Guarantee Scheme. Further includes capital deduction of EUR0.3billion that was imposed on Deutsche Bank effective from October 2016 onwards based on a notification by the ECB pursuant to Article 16(1)(c) and 16(2)(d) of Regulation (EU) No 1024/2013. |
Management Report - Risk and _2
Management Report - Risk and Capital Performance - Reconciliation of Shareholders Equity to Regulatory Capital (Detail) - Reconciliation of Shareholders Equity to Regulatory Capital [Member] - EUR (€) € in Millions | Dec. 31, 2018 | Dec. 31, 2017 | |
Reconciliation of Shareholders Equity to Regulatory Capital [Line Items] | |||
Total shareholders equity per accounting balance sheet | [1] | € 62,495 | € 63,174 |
Deconsolidation Consolidation of entities | (33) | (58) | |
thereof [Abstract] | |||
Additional paid-in capital | (12) | (6) | |
Retained earnings | (150) | (228) | |
Accumulated other comprehensive income (loss), net of tax | 130 | 176 | |
Total shareholders' equity per regulatory balance sheet | 62,462 | 63,116 | |
Noncontrolling interest based on transitional rules | [1] | 846 | 33 |
Accrual for dividend and AT1 coupons | [2] | (267) | 0 |
Reversal of deconsolidation/consolidation of the position Accumulated other comprehensive income (loss), net of tax, during transitional period | 0 | (35) | |
Common Equity Tier 1 (CET 1) capital before regulatory adjustments | 63,041 | 63,114 | |
Additional value adjustments | (1,504) | (1,204) | |
Other prudential filters (other than additional value adjustments) | (329) | (74) | |
Regulatory adjustments relating to unrealized gains and losses pursuant to Art. 467 and 468 CRR | 0 | (144) | |
Goodwill and other intangible assets (net of related tax liabilities) | (8,566) | (6,715) | |
Deferred tax assets that rely on future profitability | (2,758) | (2,403) | |
Defined benefit pension fund assets | (1,111) | (900) | |
Direct, indirect and synthetic holdings by the institution of the CET 1 instruments of financial sector entities where the institution has a significant investment in those entities | 0 | 0 | |
Other regulatory adjustments | (1,287) | (866) | |
Common Equity Tier 1 capital | € 47,486 | € 50,808 | |
[1] | Our IPO of DWS led to a EUR 0.9 billion CET 1 contribution which is reflected in the Total shareholders equity per accounting balance sheet at EUR 0.1 billion and Minority interests at EUR 0.8 billion. | ||
[2] | No interim profits to be recognized as per ECB Decision (EU) 2015/656 in accordance with the Article26(2) of Regulation (EU) No575/2013 (ECB/2015/4). |
Condensed Statement of Comprehe
Condensed Statement of Comprehensive Income (Deutsche Bank Parent) (Detail) - Deutsche Bank AG (Parent) [Member] - EUR (€) € in Millions | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Condensed Statement of Comprehensive Income (Deutsche Bank Parent) [Line Items] | |||
Net income (loss) attributable to Deutsche Bank shareholders and additional equity components | € 2,875 | € 1,191 | € 636 |
Other comprehensive income (loss), net of tax | 102 | (2,486) | 360 |
Total comprehensive income (loss), net of tax | € 2,977 | € (1,295) | € 996 |
Condensed Statement of Income (
Condensed Statement of Income (Deutsche Bank Parent) (Detail) - Deutsche Bank AG (Parent) [Member] - EUR (€) € in Millions | 12 Months Ended | |||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | ||
Condensed Statement of Income (Deutsche Bank Parent) [Line Items] | ||||
Interest income, excluding dividends from subsidiaries | € 16,326 | € 15,339 | € 14,247 | |
Dividends received from [Abstract] | ||||
Dividends received from bank subsidiaries | 2,511 | 1,185 | 1,042 | |
Dividends received from nonbank subsidiaries | 2,064 | 1,962 | 2,935 | |
Interest expense | 9,700 | 9,575 | 7,947 | |
Net interest and dividend income | 11,201 | 8,912 | 10,278 | |
Provision for credit losses | 102 | 675 | 872 | |
Net interest and dividend income after provision for credit losses | 11,099 | 8,237 | 9,406 | |
Noninterest income [Abstract] | ||||
Commissions and fee income | 3,223 | 3,721 | 4,145 | |
Net gains (losses) on financial assets/liabilities at fair value through profit or loss | 1,436 | 2,789 | 1,791 | |
Other income (loss) | [1] | (344) | (744) | (606) |
Total noninterest income | 4,315 | 5,766 | 5,330 | |
Noninterest expenses [Abstract] | ||||
Compensation and benefits | 4,921 | 5,123 | 5,137 | |
General and administrative expenses | 6,070 | 6,347 | 7,524 | |
Services provided by (to) affiliates, net | 1,670 | 1,426 | 1,263 | |
Impairment of goodwill and other intangible assets | 0 | 6 | 14 | |
Total noninterest expenses | 12,661 | 12,902 | 13,938 | |
Income (loss) before income taxes | 2,753 | 1,101 | 797 | |
Income tax expense (benefit) | (122) | (90) | 161 | |
Net income (loss) attributable to Deutsche Bank shareholders and additional equity components | € 2,875 | € 1,191 | € 636 | |
[1] | Includes net gains (losses) on financial assets mandatory at fair value through other comprehensive income (in 2017 and 2016 on financial assets available for sale) and impairments/write-ups on investments in subsidiaries. |
Condensed Balance Sheet (Deutsc
Condensed Balance Sheet (Deutsche Bank Parent) (Detail) - Deutsche Bank AG (Parent) [Member] - EUR (€) € in Millions | Dec. 31, 2018 | Dec. 31, 2017 |
Assets [Abstract] | ||
Cash and central bank balances | € 140,841 | € 176,661 |
Financial assets available for sale | 0 | 28,441 |
Investments in associates | 288 | 290 |
Total assets | 1,129,187 | 1,244,828 |
Liabilities and equity [Abstract] | ||
Long-term debt | 134,872 | 144,998 |
Total liabilities | 1,064,808 | 1,183,113 |
Total shareholders equity | 59,704 | 57,039 |
Additional equity components | 4,675 | 4,675 |
Total equity | 64,379 | 61,715 |
Total liabilities and equity | 1,129,187 | 1,244,828 |
Bank subsidiaries [Member] | ||
Assets [Abstract] | ||
Interbank balances (w/o central banks) | 19,543 | 27,110 |
Central bank funds sold and securities purchased under resale agreements | 1,135 | 4,170 |
Financial assets at fair value through profit or loss | 5,573 | 6,508 |
Investment in subsidiaries | 20,155 | 12,242 |
Loans | 31,393 | 37,974 |
Other assets | 3,352 | 1,480 |
Liabilities and equity [Abstract] | ||
Deposits | 64,413 | 81,504 |
Central bank funds purchased, securities sold under repurchase agreements and securities loaned | 654 | 640 |
Financial liabilities at fair value through profit or loss | 5,078 | 5,423 |
Other short-term borrowings | 158 | 195 |
Other liabilities | 1,447 | 851 |
Nonbank subsidiaries [Member] | ||
Assets [Abstract] | ||
Central bank funds sold and securities purchased under resale agreements | 39,415 | 36,287 |
Financial assets at fair value through profit or loss | 3,973 | 5,010 |
Investment in subsidiaries | 28,117 | 36,170 |
Loans | 47,156 | 52,687 |
Other assets | 16,427 | 11,145 |
Liabilities and equity [Abstract] | ||
Deposits | 19,745 | 20,562 |
Central bank funds purchased, securities sold under repurchase agreements and securities loaned | 35,587 | 29,129 |
Financial liabilities at fair value through profit or loss | 2,461 | 2,531 |
Other short-term borrowings | 2,414 | 424 |
Other liabilities | 10,020 | 8,067 |
Other subsidiaries [Member] | ||
Assets [Abstract] | ||
Interbank balances (w/o central banks) | 5,037 | 5,801 |
Central bank funds sold and securities purchased under resale agreements | 8,454 | 10,497 |
Financial assets at fair value through profit or loss | 492,156 | 550,182 |
Loans | 150,153 | 151,912 |
Other assets | 77,570 | 90,263 |
Liabilities and equity [Abstract] | ||
Deposits | 287,444 | 307,162 |
Central bank funds purchased, securities sold under repurchase agreements and securities loaned | 7,491 | 16,766 |
Financial liabilities at fair value through profit or loss | 378,940 | 439,264 |
Other short-term borrowings | 13,672 | 17,766 |
Other liabilities | € 100,413 | € 107,830 |
Condensed Statement of Cash Flo
Condensed Statement of Cash Flows (Deutsche Bank Parent) (Detail) - Deutsche Bank AG (Parent) [Member] - EUR (€) € in Millions | 12 Months Ended | ||||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |||
Condensed Statement of Cash Flows (Deutsche Bank Parent) [Line Items] | |||||
Net cash provided by (used in) operating activities | € (47,850) | € 40,931 | € 25,873 | ||
Proceeds from [Abstract] | |||||
Sale of financial assets at fair value through other comprehensive income | 11,592 | ||||
Maturities of financial assets at fair value through other comprehensive income | 23,572 | ||||
Sale of debt securities held to collect at AC | 93 | ||||
Maturities of debt securities held to collect at AC | 58 | ||||
Sale of financial assets available for sale | 7,627 | 22,205 | |||
Maturities of financial assets available for sale | 3,433 | 4,530 | |||
Maturities of securities held to maturity | 0 | 0 | |||
Sale of investments in associates | 5 | 65 | 12 | ||
Sale of property and equipment | 13 | 39 | 8 | ||
Purchase of [Abstract] | |||||
Financial assets at fair value through other comprehensive income | (34,586) | ||||
Debt Securities held to collect at amortized cost | (129) | ||||
Financial assets available for sale | (9,741) | (15,150) | |||
Securities held to maturity | 0 | 0 | |||
Investments in associates | 0 | 0 | (11) | ||
Property and equipment | (212) | (261) | (284) | ||
Net change in investments in subsidiaries | 289 | (2,222) | (1,619) | ||
Other, net | (1,024) | (1,129) | (1,360) | ||
Net cash provided by (used in) investing activities | (329) | (2,189) | 8,331 | ||
Cash flows from financing activities [Abstract] | |||||
Issuances of subordinated long-term debt | 10 | 865 | 792 | ||
Repayments and extinguishments of subordinated long-term debt | (253) | (45) | (102) | ||
Common shares issued | 0 | 8,037 | 0 | ||
Purchases of treasury shares | (4,119) | (7,912) | (5,256) | ||
Sale of treasury shares | 3,925 | 7,471 | 4,979 | ||
Additional Equity Components (AT1) issued | 0 | 0 | 0 | ||
Purchases of Additional Equity Components (AT1) | (123) | (149) | (129) | ||
Sale of Additional Equity Components (AT1) | 120 | 160 | 124 | ||
Coupon on additional equity components, pre tax | (315) | (335) | (333) | ||
Cash dividends paid | (227) | (392) | 0 | ||
Net cash provided by (used in) financing activities | (982) | 7,700 | 74 | ||
Net effect of exchange rate changes on cash and cash equivalents | 1,243 | (3,499) | 187 | ||
Net increase (decrease) in cash and cash equivalents | (47,918) | 42,943 | 34,465 | ||
Cash and cash equivalents at beginning of period | 187,759 | 144,816 | 110,351 | ||
Cash and cash equivalents at end of period | 139,841 | 187,759 | 144,816 | ||
Net cash provided by (used in) operating activities include [Abstract] | |||||
Income taxes paid (received), net | (224) | 258 | (974) | ||
Interest paid | 9,793 | 9,563 | 7,871 | ||
Interest received | 19,660 | 15,308 | 14,346 | ||
Dividend received | 2,957 | 4,098 | [1] | 1,800 | [1] |
Cash and cash equivalents comprise [Abstract] | |||||
Cash and central bank balances (not included Interest-earning time deposits with central banks) | 127,871 | 175,463 | 119,213 | ||
Interbank balances (w/o central banks) (not included: time deposits with banks) | 11,970 | 12,296 | 25,603 | ||
Total | € 139,841 | € 187,759 | € 144,816 | ||
[1] | Prior year data adjusted due to refinement in the methodology. |
Deutsche Bank Parent Long-Term
Deutsche Bank Parent Long-Term Debt (Detail) - Deutsche Bank AG (Parent) [Member] - EUR (€) € in Millions | Dec. 31, 2018 | Dec. 31, 2017 |
Total Dec 31 [Domain Member] | Debt Seniority [Domain Member] | ||
By remaining maturities [Abstract] | ||
Other | € 33,072 | € 40,636 |
Total long-term debt | 134,872 | 144,998 |
Total Dec 31 [Domain Member] | Senior debt, Bonds and notes [Member] | ||
By remaining maturities [Abstract] | ||
Fixed rate | 62,053 | 59,517 |
Floating rate | 30,658 | 33,142 |
Total Dec 31 [Domain Member] | Subordinated debt, Bonds and notes [Member] | ||
By remaining maturities [Abstract] | ||
Fixed rate | 7,232 | 9,769 |
Floating rate | 1,858 | € 1,934 |
Due in 2019 [Member] | Debt Seniority [Domain Member] | ||
By remaining maturities [Abstract] | ||
Other | 20,809 | |
Total long-term debt | 46,025 | |
Due in 2019 [Member] | Senior debt, Bonds and notes [Member] | ||
By remaining maturities [Abstract] | ||
Fixed rate | 13,916 | |
Floating rate | 8,061 | |
Due in 2019 [Member] | Subordinated debt, Bonds and notes [Member] | ||
By remaining maturities [Abstract] | ||
Fixed rate | 3,239 | |
Floating rate | 0 | |
Due in 2020 [Member] | Debt Seniority [Domain Member] | ||
By remaining maturities [Abstract] | ||
Other | 2,206 | |
Total long-term debt | 15,563 | |
Due in 2020 [Member] | Senior debt, Bonds and notes [Member] | ||
By remaining maturities [Abstract] | ||
Fixed rate | 7,502 | |
Floating rate | 4,540 | |
Due in 2020 [Member] | Subordinated debt, Bonds and notes [Member] | ||
By remaining maturities [Abstract] | ||
Fixed rate | 1,135 | |
Floating rate | 180 | |
Due in 2021 [Member] | Debt Seniority [Domain Member] | ||
By remaining maturities [Abstract] | ||
Other | 1,324 | |
Total long-term debt | 21,295 | |
Due in 2021 [Member] | Senior debt, Bonds and notes [Member] | ||
By remaining maturities [Abstract] | ||
Fixed rate | 14,632 | |
Floating rate | 5,339 | |
Due in 2021 [Member] | Subordinated debt, Bonds and notes [Member] | ||
By remaining maturities [Abstract] | ||
Fixed rate | 0 | |
Floating rate | 0 | |
Due in 2022 [Member] | Debt Seniority [Domain Member] | ||
By remaining maturities [Abstract] | ||
Other | 490 | |
Total long-term debt | 10,271 | |
Due in 2022 [Member] | Senior debt, Bonds and notes [Member] | ||
By remaining maturities [Abstract] | ||
Fixed rate | 6,227 | |
Floating rate | 3,553 | |
Due in 2022 [Member] | Subordinated debt, Bonds and notes [Member] | ||
By remaining maturities [Abstract] | ||
Fixed rate | 0 | |
Floating rate | 0 | |
Due in 2023 [Member] | Debt Seniority [Domain Member] | ||
By remaining maturities [Abstract] | ||
Other | 838 | |
Total long-term debt | 10,321 | |
Due in 2023 [Member] | Senior debt, Bonds and notes [Member] | ||
By remaining maturities [Abstract] | ||
Fixed rate | 5,960 | |
Floating rate | 2,321 | |
Due in 2023 [Member] | Subordinated debt, Bonds and notes [Member] | ||
By remaining maturities [Abstract] | ||
Fixed rate | 0 | |
Floating rate | 1,202 | |
Due after 2023 [Member] | Debt Seniority [Domain Member] | ||
By remaining maturities [Abstract] | ||
Other | 7,404 | |
Total long-term debt | 31,396 | |
Due after 2023 [Member] | Senior debt, Bonds and notes [Member] | ||
By remaining maturities [Abstract] | ||
Fixed rate | 13,815 | |
Floating rate | 6,844 | |
Due after 2023 [Member] | Subordinated debt, Bonds and notes [Member] | ||
By remaining maturities [Abstract] | ||
Fixed rate | 2,858 | |
Floating rate | € 476 |
Issuance of Trust Preferred Sec
Issuance of Trust Preferred Securities (Detail) | Dec. 31, 2018EUR (€) |
Trust: Deutsche Bank Contigent Capital Trust II; LLC: Deutsche Bank Contingent Capital LLC II; Issuance Date: May 23, 2007; Earliest Redemptiom Date: May 23, 2017 [Member] | |
Issuance of Trust Preferred Securities [Line Items] | |
Long-term debt | € 699 |
Trust: Deutsche Bank Contigent Capital Trust V; LLC: Deutsche Bank Contingent Capital LLC V; Issuance Date: May 9, 2008; Earliest Redemption Date: June30, 2018 [Member] | |
Issuance of Trust Preferred Securities [Line Items] | |
Long-term debt | € 1,210 |
Issuance of Trust Preferred S_2
Issuance of Trust Preferred Securities (Detail: Text Values) | Dec. 31, 2018EUR (€) |
Trust: Deutsche Bank Contigent Capital Trust V; LLC: Deutsche Bank Contingent Capital LLC V; Issuance Date: May 9, 2008; Earliest Redemption Date: June30, 2018 [Member] | |
Issuance of Trust Preferred Securities [Line Items] | |
Additional issuance | € 120 |
Corporate Governance Statement
Corporate Governance Statement - Principal Accounting Fees and Services (Detail) - EUR (€) € in Millions | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Accountant Fees | ||
Audit fees | € 60 | € 51 |
Audit-related fees | 12 | 18 |
Tax-related fees | 5 | 4 |
All other fees | 1 | 0 |
Total fees | € 78 | € 73 |
Maximum Exposure to Credit Risk
Maximum Exposure to Credit Risk IFRS 9 (Detail) - IFRS 9 [Member] € in Millions | Dec. 31, 2018EUR (€) | |
Maximum exposure to credit risk [Member] | ||
Financial assets at amortized cost [Abstract] | ||
Cash and central bank balances | € 188,736 | [1],[2] |
Interbank balances (w/o central banks) | 8,885 | [1],[2] |
Central bank funds sold and securities purchased under resale agreements | 8,222 | [1],[2] |
Securities borrowed | 3,396 | [1],[2] |
Loans | 404,537 | [1],[2] |
Other assets subject to credit risk | 71,899 | [1],[2],[3],[4] |
Securities held to maturity | ||
Total financial assets at amortized cost | 685,676 | [1],[2] |
Trading assets | 96,966 | [2],[5] |
Positive market values from derivative financial instruments | 320,058 | [2],[5] |
Non-trading financial assets mandatory at fair value through profit or loss | 97,771 | [2],[5] |
of which [Abstract] | ||
Securities purchased under resale agreement | 44,543 | [2],[5] |
Securities borrowed | 24,210 | [2],[5] |
Loans | 12,741 | [2],[5] |
Financial assets designated at fair value through profit or loss | 104 | [2],[5] |
Financial assets available for sale | ||
Total financial assets at fair value through profit or loss | 514,899 | [2],[5] |
Financial assets at fair value through other comprehensive income | 51,182 | [2] |
of which [Abstract] | ||
Securities purchased under resale agreement | 1,097 | [2] |
Securities borrowed | 0 | [2] |
Loans | 5,092 | [2] |
Financial guarantees and other credit related contingent liabilities | 51,605 | [2],[6] |
Revocable and irrevocable lending commitments and other credit related commitments | 212,049 | [2],[6] |
Total off-balance sheet | 263,654 | [2] |
Maximum exposure to credit risk | 1,515,410 | [2] |
Subject to Impairment [Member] | ||
Financial assets at amortized cost [Abstract] | ||
Cash and central bank balances | 188,736 | [1] |
Interbank balances (w/o central banks) | 8,885 | [1] |
Central bank funds sold and securities purchased under resale agreements | 8,222 | [1] |
Securities borrowed | 3,396 | [1] |
Loans | 404,537 | [1] |
Other assets subject to credit risk | 65,010 | [1],[3],[4] |
Securities held to maturity | ||
Total financial assets at amortized cost | 678,787 | [1] |
of which [Abstract] | ||
Financial assets available for sale | ||
Financial assets at fair value through other comprehensive income | 51,182 | |
of which [Abstract] | ||
Securities purchased under resale agreement | 1,097 | |
Securities borrowed | 0 | |
Loans | 5,092 | |
Financial guarantees and other credit related contingent liabilities | 51,605 | [6] |
Revocable and irrevocable lending commitments and other credit related commitments | 211,055 | [6] |
Total off-balance sheet | 262,659 | |
Maximum exposure to credit risk | 992,628 | |
Netting [Member] | ||
Financial assets at amortized cost [Abstract] | ||
Other assets subject to credit risk | 29,073 | [1],[3],[4] |
Securities held to maturity | ||
Total financial assets at amortized cost | 29,073 | [1] |
Positive market values from derivative financial instruments | 250,231 | [5] |
Non-trading financial assets mandatory at fair value through profit or loss | 245 | [5] |
of which [Abstract] | ||
Securities purchased under resale agreement | 245 | [5] |
Financial assets available for sale | ||
Total financial assets at fair value through profit or loss | 250,476 | [5] |
of which [Abstract] | ||
Maximum exposure to credit risk | 279,550 | |
Collateral [Member] | ||
Financial assets at amortized cost [Abstract] | ||
Cash and central bank balances | 0 | [1] |
Interbank balances (w/o central banks) | 4 | [1] |
Central bank funds sold and securities purchased under resale agreements | 7,734 | [1] |
Securities borrowed | 0 | [1] |
Loans | 224,353 | [1] |
Other assets subject to credit risk | 3,199 | [1],[3],[4] |
Securities held to maturity | ||
Total financial assets at amortized cost | 235,290 | [1] |
Trading assets | 677 | [5] |
Positive market values from derivative financial instruments | 48,548 | [5] |
Non-trading financial assets mandatory at fair value through profit or loss | 67,385 | [5] |
of which [Abstract] | ||
Securities purchased under resale agreement | 43,258 | [5] |
Securities borrowed | 24,003 | [5] |
Loans | 125 | [5] |
Financial assets designated at fair value through profit or loss | 0 | [5] |
Financial assets available for sale | ||
Total financial assets at fair value through profit or loss | 116,610 | [5] |
Financial assets at fair value through other comprehensive income | 1,488 | |
of which [Abstract] | ||
Securities purchased under resale agreement | 621 | |
Securities borrowed | 0 | |
Loans | 450 | |
Financial guarantees and other credit related contingent liabilities | 3,375 | [6] |
Revocable and irrevocable lending commitments and other credit related commitments | 16,418 | [6] |
Total off-balance sheet | 19,793 | |
Maximum exposure to credit risk | 373,181 | |
Guarantees and Credit derivatives [Member] | ||
Financial assets at amortized cost [Abstract] | ||
Interbank balances (w/o central banks) | 0 | [1],[7] |
Loans | 16,582 | [1],[7] |
Other assets subject to credit risk | 79 | [1],[3],[4],[7] |
Securities held to maturity | ||
Total financial assets at amortized cost | 16,661 | [1],[7] |
Trading assets | 155 | [5],[7] |
Positive market values from derivative financial instruments | 82 | [5],[7] |
Non-trading financial assets mandatory at fair value through profit or loss | 0 | [5],[7] |
of which [Abstract] | ||
Securities purchased under resale agreement | 0 | [5],[7] |
Securities borrowed | 0 | [5],[7] |
Loans | 0 | [5],[7] |
Financial assets designated at fair value through profit or loss | 0 | [5],[7] |
Financial assets available for sale | ||
Total financial assets at fair value through profit or loss | 237 | [5],[7] |
Financial assets at fair value through other comprehensive income | 520 | [7] |
of which [Abstract] | ||
Securities purchased under resale agreement | 0 | [7] |
Securities borrowed | 0 | [7] |
Loans | 104 | [7] |
Financial guarantees and other credit related contingent liabilities | 5,291 | [6],[7] |
Revocable and irrevocable lending commitments and other credit related commitments | 4,734 | [6],[7] |
Total off-balance sheet | 10,025 | [7] |
Maximum exposure to credit risk | 27,443 | [7] |
Total credit enhancements [Member] | ||
Financial assets at amortized cost [Abstract] | ||
Cash and central bank balances | 0 | [1] |
Interbank balances (w/o central banks) | 4 | [1] |
Central bank funds sold and securities purchased under resale agreements | 7,734 | [1] |
Securities borrowed | 0 | [1] |
Loans | 240,934 | [1] |
Other assets subject to credit risk | 32,352 | [1],[3],[4] |
Securities held to maturity | ||
Total financial assets at amortized cost | 281,024 | [1] |
Trading assets | 831 | [5] |
Positive market values from derivative financial instruments | 298,861 | [5] |
Non-trading financial assets mandatory at fair value through profit or loss | 67,630 | [5] |
of which [Abstract] | ||
Securities purchased under resale agreement | 43,503 | [5] |
Securities borrowed | 24,003 | [5] |
Loans | 125 | [5] |
Financial assets designated at fair value through profit or loss | 0 | [5] |
Financial assets available for sale | ||
Total financial assets at fair value through profit or loss | 367,323 | [5] |
Financial assets at fair value through other comprehensive income | 2,008 | |
of which [Abstract] | ||
Securities purchased under resale agreement | 621 | |
Securities borrowed | 0 | |
Loans | 554 | |
Financial guarantees and other credit related contingent liabilities | 8,666 | [6] |
Revocable and irrevocable lending commitments and other credit related commitments | 21,152 | [6] |
Total off-balance sheet | 29,818 | |
Maximum exposure to credit risk | € 680,173 | |
[1] | All amounts at gross value before deductions of allowance for credit losses. | |
[2] | Does not include credit derivative notional sold (EUR415,967million) and credit derivative notional bought protection. | |
[3] | All amounts at amortized cost (gross) except for qualifying hedge derivatives, which are reflected at Fair value through P&L. | |
[4] | Includes Asset Held for Sale regardless of accounting classification. | |
[5] | Excludes equities, other equity interests and commodities. | |
[6] | Figures are reflected at notional amounts. | |
[7] | Bought Credit protection is reflected with the notional of the underlying. |
Parenthetical Information Credi
Parenthetical Information Credit Exposure (Detail:Text Values) - EUR (€) € in Millions | Dec. 31, 2018 | Dec. 31, 2017 |
Credit Exposure [Abstract] | ||
Credit derivative notional sold and credit derivative notional bought protection, not included in Maximum exposure to credit risk | € 415,967 | € 828,804 |
Revocable commitments not included | 45,100 | |
Traded bonds included in "Trading assets" | € 85,200 | € 87,264 |
thereof: | ||
Investment-Grade in % (more than) | 79.00% | 82.00% |
Investment grade of debt securities included in "Financial assets available for sale" in % (more than) | 98.00% | |
Stage 3 and stage 3 POCI loans at amortized cost | € 9,100 | |
Stage 3 and stage 3 POCI loans at fair value through OCI | 1 | |
Stage 3 and stage 3 POCI off-balance sheet exposure | 599 | |
Stage 3 and stage 3 POCI debt securities at amortized cost | 73 | |
Stage 3 and stage 3 POCI debt securities at fair value through OCI | 2 | |
Stage 3 and stage 3 POCI repo and repo-style transactions at amortized cost | 0 | |
Stage 3 and stage 3 POCI repo and repo-style transactions at fair value through OCI | 0 | |
Impaired loans included in "Loans" | € 6,200 | |
(Revocable*2018 and) irrevocable lending commitments related to consumer credit exposure | € 10,100 | |
Real estate other than commercial | 63,400 | |
Transport, storage and communication, Credit exposure | 28,200 | |
Other community and personal social services | 14,100 | |
Electricity, gas and water supply, Credit exposure | 12,800 | |
Construction, Credit exposure | 11,700 | |
Mining and quarrying, Credit exposure | € 10,000 |
Risk Report - Credit Risk Exp_2
Risk Report - Credit Risk Exposure - Maximum Exposure to Credit Risk IAS 39 (Detail) - IAS 39 [Member] € in Millions | Dec. 31, 2017EUR (€) | [1] |
Maximum exposure to credit risk [Member] | ||
Maximum Exposure to Credit Risk [Line Items] | ||
Cash and central bank balances | € 225,655 | [2] |
Interbank balances (w/o central banks) | 9,265 | [2] |
Central bank funds sold and securities purchased under resale agreements | 9,971 | [2] |
Securities borrowed | 16,732 | [2] |
Financial assets at fair value through profit or loss | 550,313 | [2] |
Trading assets | 98,730 | [2] |
Positive market values from derivative financial instruments | 361,032 | [2] |
Financial assets designated at fair value through profit or loss | 90,551 | [2] |
thereof [Abstract] | ||
Securities purchased under resale agreements | 57,843 | [2] |
Securities borrowed | 20,254 | [2] |
Financial assets available for sale | 47,766 | [2],[3] |
Loans | 405,621 | [2],[4] |
Securities held to maturity | 3,170 | [2] |
Other assets subject to credit risk | 66,900 | [2] |
Financial guarantees and other credit related contingent liabilities | 48,212 | [2],[5] |
Irrevocable lending commitments and other credit related commitments | 158,253 | [2],[5] |
Maximum exposure to credit risk | 1,541,858 | [2] |
Netting [Member] | ||
Maximum Exposure to Credit Risk [Line Items] | ||
Financial assets at fair value through profit or loss | 286,149 | |
Positive market values from derivative financial instruments | 285,421 | |
Financial assets designated at fair value through profit or loss | 728 | |
thereof [Abstract] | ||
Securities purchased under resale agreements | 728 | |
Other assets subject to credit risk | 29,854 | |
Maximum exposure to credit risk | 316,003 | |
Collateral [Member] | ||
Maximum Exposure to Credit Risk [Line Items] | ||
Cash and central bank balances | 0 | |
Interbank balances (w/o central banks) | 0 | |
Central bank funds sold and securities purchased under resale agreements | 9,914 | |
Securities borrowed | 15,755 | |
Financial assets at fair value through profit or loss | 136,650 | |
Trading assets | 2,635 | |
Positive market values from derivative financial instruments | 52,797 | |
Financial assets designated at fair value through profit or loss | 81,218 | |
thereof [Abstract] | ||
Securities purchased under resale agreements | 56,566 | |
Securities borrowed | 20,034 | |
Financial assets available for sale | 559 | [3] |
Loans | 211,578 | [4] |
Other assets subject to credit risk | 1,514 | |
Financial guarantees and other credit related contingent liabilities | 4,024 | [5] |
Irrevocable lending commitments and other credit related commitments | 7,544 | [5] |
Maximum exposure to credit risk | 387,538 | |
Guarantees and Credit derivatives [Member] | ||
Maximum Exposure to Credit Risk [Line Items] | ||
Interbank balances (w/o central banks) | 7 | [6] |
Financial assets at fair value through profit or loss | 265 | [6] |
Trading assets | 146 | [6] |
Positive market values from derivative financial instruments | 119 | [6] |
Financial assets designated at fair value through profit or loss | 0 | [6] |
thereof [Abstract] | ||
Securities purchased under resale agreements | 0 | [6] |
Securities borrowed | 0 | [6] |
Financial assets available for sale | 0 | [3],[6] |
Loans | 20,063 | [4],[6] |
Other assets subject to credit risk | 56 | [6] |
Financial guarantees and other credit related contingent liabilities | 6,579 | [5],[6] |
Irrevocable lending commitments and other credit related commitments | 1,759 | [5],[6] |
Maximum exposure to credit risk | 28,730 | [6] |
Total credit enhancements [Member] | ||
Maximum Exposure to Credit Risk [Line Items] | ||
Cash and central bank balances | 0 | |
Interbank balances (w/o central banks) | 7 | |
Central bank funds sold and securities purchased under resale agreements | 9,914 | |
Securities borrowed | 15,755 | |
Financial assets at fair value through profit or loss | 423,065 | |
Trading assets | 2,781 | |
Positive market values from derivative financial instruments | 338,338 | |
Financial assets designated at fair value through profit or loss | 81,946 | |
thereof [Abstract] | ||
Securities purchased under resale agreements | 57,294 | |
Securities borrowed | 20,034 | |
Financial assets available for sale | 559 | [3] |
Loans | 231,641 | [4] |
Other assets subject to credit risk | 31,424 | |
Financial guarantees and other credit related contingent liabilities | 10,604 | [5] |
Irrevocable lending commitments and other credit related commitments | 9,303 | [5] |
Maximum exposure to credit risk | € 732,271 | |
[1] | All amounts at carrying value unless otherwise indicated. | |
[2] | Does not include credit derivative notional sold (EUR828,804million) and credit derivative notional bought protection. | |
[3] | Excludes equities, other equity interests and commodities. | |
[4] | Gross loans less deferred expense/unearned income before deductions of allowance for loan losses | |
[5] | Figures are reflected at notional amounts. Revocable commitments not included in the year were EUR45.1billion | |
[6] | Bought credit protection is reflected with the notional of the underlying |
Credit Risk Exposure and Risk C
Credit Risk Exposure and Risk Concentrations/ Amortized Cost (Detail) € in Millions | Dec. 31, 2018EUR (€) |
Total [Member] | Total [Member] | |
Credit Risk Exposure and Risk Concentrations/ Amortized Cost [Line Items] | |
Gross Carrying Amount | € 678,787 |
Allowance for Credit Losses | 4,259 |
Total [Member] | Stage 1 [Member] | |
Credit Risk Exposure and Risk Concentrations/ Amortized Cost [Line Items] | |
Gross Carrying Amount | 637,037 |
Allowance for Credit Losses | 509 |
Total [Member] | Stage 2 [Member] | |
Credit Risk Exposure and Risk Concentrations/ Amortized Cost [Line Items] | |
Gross Carrying Amount | 32,335 |
Allowance for Credit Losses | 501 |
Total [Member] | Stage 3 [Member] | |
Credit Risk Exposure and Risk Concentrations/ Amortized Cost [Line Items] | |
Gross Carrying Amount | 7,452 |
Allowance for Credit Losses | 3,247 |
Total [Member] | Stage 3 POCI [Member] | |
Credit Risk Exposure and Risk Concentrations/ Amortized Cost [Line Items] | |
Gross Carrying Amount | 1,963 |
Allowance for Credit Losses | 3 |
iAAA-iAA [Member] | Total [Member] | |
Credit Risk Exposure and Risk Concentrations/ Amortized Cost [Line Items] | |
Gross Carrying Amount | 238,229 |
Allowance for Credit Losses | 3 |
iAAA-iAA [Member] | Stage 1 [Member] | |
Credit Risk Exposure and Risk Concentrations/ Amortized Cost [Line Items] | |
Gross Carrying Amount | 235,913 |
Allowance for Credit Losses | 2 |
iAAA-iAA [Member] | Stage 2 [Member] | |
Credit Risk Exposure and Risk Concentrations/ Amortized Cost [Line Items] | |
Gross Carrying Amount | 2,315 |
Allowance for Credit Losses | 0 |
iAAA-iAA [Member] | Stage 3 [Member] | |
Credit Risk Exposure and Risk Concentrations/ Amortized Cost [Line Items] | |
Gross Carrying Amount | 0 |
Allowance for Credit Losses | 0 |
iAAA-iAA [Member] | Stage 3 POCI [Member] | |
Credit Risk Exposure and Risk Concentrations/ Amortized Cost [Line Items] | |
Gross Carrying Amount | 0 |
Allowance for Credit Losses | 0 |
iA [Member] | Total [Member] | |
Credit Risk Exposure and Risk Concentrations/ Amortized Cost [Line Items] | |
Gross Carrying Amount | 84,606 |
Allowance for Credit Losses | 7 |
iA [Member] | Stage 1 [Member] | |
Credit Risk Exposure and Risk Concentrations/ Amortized Cost [Line Items] | |
Gross Carrying Amount | 81,579 |
Allowance for Credit Losses | 6 |
iA [Member] | Stage 2 [Member] | |
Credit Risk Exposure and Risk Concentrations/ Amortized Cost [Line Items] | |
Gross Carrying Amount | 3,027 |
Allowance for Credit Losses | 1 |
iA [Member] | Stage 3 [Member] | |
Credit Risk Exposure and Risk Concentrations/ Amortized Cost [Line Items] | |
Gross Carrying Amount | 0 |
Allowance for Credit Losses | 0 |
iA [Member] | Stage 3 POCI [Member] | |
Credit Risk Exposure and Risk Concentrations/ Amortized Cost [Line Items] | |
Gross Carrying Amount | 0 |
Allowance for Credit Losses | 0 |
iBBB [Member] | Total [Member] | |
Credit Risk Exposure and Risk Concentrations/ Amortized Cost [Line Items] | |
Gross Carrying Amount | 141,104 |
Allowance for Credit Losses | 43 |
iBBB [Member] | Stage 1 [Member] | |
Credit Risk Exposure and Risk Concentrations/ Amortized Cost [Line Items] | |
Gross Carrying Amount | 138,596 |
Allowance for Credit Losses | 36 |
iBBB [Member] | Stage 2 [Member] | |
Credit Risk Exposure and Risk Concentrations/ Amortized Cost [Line Items] | |
Gross Carrying Amount | 2,508 |
Allowance for Credit Losses | 8 |
iBBB [Member] | Stage 3 [Member] | |
Credit Risk Exposure and Risk Concentrations/ Amortized Cost [Line Items] | |
Gross Carrying Amount | 0 |
Allowance for Credit Losses | 0 |
iBBB [Member] | Stage 3 POCI [Member] | |
Credit Risk Exposure and Risk Concentrations/ Amortized Cost [Line Items] | |
Gross Carrying Amount | 0 |
Allowance for Credit Losses | 0 |
iBB [Member] | Total [Member] | |
Credit Risk Exposure and Risk Concentrations/ Amortized Cost [Line Items] | |
Gross Carrying Amount | 146,318 |
Allowance for Credit Losses | 238 |
iBB [Member] | Stage 1 [Member] | |
Credit Risk Exposure and Risk Concentrations/ Amortized Cost [Line Items] | |
Gross Carrying Amount | 137,768 |
Allowance for Credit Losses | 177 |
iBB [Member] | Stage 2 [Member] | |
Credit Risk Exposure and Risk Concentrations/ Amortized Cost [Line Items] | |
Gross Carrying Amount | 8,318 |
Allowance for Credit Losses | 61 |
iBB [Member] | Stage 3 [Member] | |
Credit Risk Exposure and Risk Concentrations/ Amortized Cost [Line Items] | |
Gross Carrying Amount | 0 |
Allowance for Credit Losses | 0 |
iBB [Member] | Stage 3 POCI [Member] | |
Credit Risk Exposure and Risk Concentrations/ Amortized Cost [Line Items] | |
Gross Carrying Amount | 232 |
Allowance for Credit Losses | 0 |
iB [Member] | Total [Member] | |
Credit Risk Exposure and Risk Concentrations/ Amortized Cost [Line Items] | |
Gross Carrying Amount | 46,114 |
Allowance for Credit Losses | 426 |
iB [Member] | Stage 1 [Member] | |
Credit Risk Exposure and Risk Concentrations/ Amortized Cost [Line Items] | |
Gross Carrying Amount | 35,725 |
Allowance for Credit Losses | 239 |
iB [Member] | Stage 2 [Member] | |
Credit Risk Exposure and Risk Concentrations/ Amortized Cost [Line Items] | |
Gross Carrying Amount | 10,378 |
Allowance for Credit Losses | 187 |
iB [Member] | Stage 3 [Member] | |
Credit Risk Exposure and Risk Concentrations/ Amortized Cost [Line Items] | |
Gross Carrying Amount | 0 |
Allowance for Credit Losses | 0 |
iB [Member] | Stage 3 POCI [Member] | |
Credit Risk Exposure and Risk Concentrations/ Amortized Cost [Line Items] | |
Gross Carrying Amount | 11 |
Allowance for Credit Losses | 0 |
iCCC and below [Member] | Total [Member] | |
Credit Risk Exposure and Risk Concentrations/ Amortized Cost [Line Items] | |
Gross Carrying Amount | 22,416 |
Allowance for Credit Losses | 3,542 |
iCCC and below [Member] | Stage 1 [Member] | |
Credit Risk Exposure and Risk Concentrations/ Amortized Cost [Line Items] | |
Gross Carrying Amount | 7,456 |
Allowance for Credit Losses | 49 |
iCCC and below [Member] | Stage 2 [Member] | |
Credit Risk Exposure and Risk Concentrations/ Amortized Cost [Line Items] | |
Gross Carrying Amount | 5,788 |
Allowance for Credit Losses | 243 |
iCCC and below [Member] | Stage 3 [Member] | |
Credit Risk Exposure and Risk Concentrations/ Amortized Cost [Line Items] | |
Gross Carrying Amount | 7,452 |
Allowance for Credit Losses | 3,247 |
iCCC and below [Member] | Stage 3 POCI [Member] | |
Credit Risk Exposure and Risk Concentrations/ Amortized Cost [Line Items] | |
Gross Carrying Amount | 1,720 |
Allowance for Credit Losses | € 3 |
Credit Risk Profile by Region I
Credit Risk Profile by Region IFRS 9 (Detail) - IFRS 9 [Member] € in Millions | Dec. 31, 2018EUR (€) | |
Total countries [Domain Member] | Credit Risk Profile [Domain Member] | ||
Credit Risk Profile by Region [Line Items] | ||
Total | € 949,227 | |
Total countries [Domain Member] | at amortized cost [Member] | ||
Credit Risk Profile by Region [Line Items] | ||
Loans | 404,537 | |
Debt securities | 5,199 | |
Repo and repo-style transactions | 11,618 | [1],[2] |
Total countries [Domain Member] | at fair value through P/L [Member] | ||
Credit Risk Profile by Region [Line Items] | ||
Loans | 11,462 | |
OTC derivatives | 27,417 | |
Debt securities | 92,664 | |
Repo and repo-style transactions | 68,752 | [1] |
Total countries [Domain Member] | Designated / mandatory at fair value through P/L [Member] | ||
Credit Risk Profile by Region [Line Items] | ||
Loans | 12,741 | |
Total countries [Domain Member] | at fair value through OCI [Member] | ||
Credit Risk Profile by Region [Line Items] | ||
Loans | 5,092 | |
Debt securities | 44,993 | |
Repo and repo-style transactions | 1,097 | [1],[3] |
Total countries [Domain Member] | Revocable and irrevocable lending commitments [Member] | ||
Credit Risk Profile by Region [Line Items] | ||
Off-balance sheet | 212,049 | |
Total countries [Domain Member] | Contingent liabilities [Member] | ||
Credit Risk Profile by Region [Line Items] | ||
Off-balance sheet | 51,605 | |
Europe [Member] | Credit Risk Profile [Domain Member] | ||
Credit Risk Profile by Region [Line Items] | ||
Total | 553,638 | |
Europe [Member] | at amortized cost [Member] | ||
Credit Risk Profile by Region [Line Items] | ||
Loans | 293,979 | |
Debt securities | 4,467 | |
Repo and repo-style transactions | 4,394 | [1],[2] |
Europe [Member] | at fair value through P/L [Member] | ||
Credit Risk Profile by Region [Line Items] | ||
Loans | 3,829 | |
OTC derivatives | 16,390 | |
Debt securities | 36,459 | |
Repo and repo-style transactions | 14,342 | [1] |
Europe [Member] | Designated / mandatory at fair value through P/L [Member] | ||
Credit Risk Profile by Region [Line Items] | ||
Loans | 9,905 | |
Europe [Member] | at fair value through OCI [Member] | ||
Credit Risk Profile by Region [Line Items] | ||
Loans | 1,785 | |
Debt securities | 24,922 | |
Repo and repo-style transactions | 316 | [1],[3] |
Europe [Member] | Revocable and irrevocable lending commitments [Member] | ||
Credit Risk Profile by Region [Line Items] | ||
Off-balance sheet | 111,675 | |
Europe [Member] | Contingent liabilities [Member] | ||
Credit Risk Profile by Region [Line Items] | ||
Off-balance sheet | 31,174 | |
Germany [Member] | Credit Risk Profile [Domain Member] | ||
Credit Risk Profile by Region [Line Items] | ||
Total | 303,352 | |
Germany [Member] | at amortized cost [Member] | ||
Credit Risk Profile by Region [Line Items] | ||
Loans | 207,429 | |
Debt securities | 1,443 | |
Repo and repo-style transactions | 925 | [1],[2] |
Germany [Member] | at fair value through P/L [Member] | ||
Credit Risk Profile by Region [Line Items] | ||
Loans | 497 | |
OTC derivatives | 1,403 | |
Debt securities | 6,685 | |
Repo and repo-style transactions | 899 | [1] |
Germany [Member] | Designated / mandatory at fair value through P/L [Member] | ||
Credit Risk Profile by Region [Line Items] | ||
Loans | 304 | |
Germany [Member] | at fair value through OCI [Member] | ||
Credit Risk Profile by Region [Line Items] | ||
Loans | 390 | |
Debt securities | 9,597 | |
Repo and repo-style transactions | 2 | [1],[3] |
Germany [Member] | Revocable and irrevocable lending commitments [Member] | ||
Credit Risk Profile by Region [Line Items] | ||
Off-balance sheet | 61,587 | |
Germany [Member] | Contingent liabilities [Member] | ||
Credit Risk Profile by Region [Line Items] | ||
Off-balance sheet | 12,193 | |
UK [Member] | Credit Risk Profile [Domain Member] | ||
Credit Risk Profile by Region [Line Items] | ||
Total | 46,608 | |
UK [Member] | at amortized cost [Member] | ||
Credit Risk Profile by Region [Line Items] | ||
Loans | 5,553 | |
Debt securities | 182 | |
Repo and repo-style transactions | 966 | [1],[2] |
UK [Member] | at fair value through P/L [Member] | ||
Credit Risk Profile by Region [Line Items] | ||
Loans | 671 | |
OTC derivatives | 5,766 | |
Debt securities | 14,552 | |
Repo and repo-style transactions | 4,379 | [1] |
UK [Member] | Designated / mandatory at fair value through P/L [Member] | ||
Credit Risk Profile by Region [Line Items] | ||
Loans | 1,331 | |
UK [Member] | at fair value through OCI [Member] | ||
Credit Risk Profile by Region [Line Items] | ||
Loans | 278 | |
Debt securities | 2,499 | |
Repo and repo-style transactions | 0 | [1],[3] |
UK [Member] | Revocable and irrevocable lending commitments [Member] | ||
Credit Risk Profile by Region [Line Items] | ||
Off-balance sheet | 7,304 | |
UK [Member] | Contingent liabilities [Member] | ||
Credit Risk Profile by Region [Line Items] | ||
Off-balance sheet | 3,127 | |
France [Member] | Credit Risk Profile [Domain Member] | ||
Credit Risk Profile by Region [Line Items] | ||
Total | 20,157 | |
France [Member] | at amortized cost [Member] | ||
Credit Risk Profile by Region [Line Items] | ||
Loans | 2,415 | |
Debt securities | 714 | |
Repo and repo-style transactions | 0 | [1],[2] |
France [Member] | at fair value through P/L [Member] | ||
Credit Risk Profile by Region [Line Items] | ||
Loans | 123 | |
OTC derivatives | 826 | |
Debt securities | 3,061 | |
Repo and repo-style transactions | 3,681 | [1] |
France [Member] | Designated / mandatory at fair value through P/L [Member] | ||
Credit Risk Profile by Region [Line Items] | ||
Loans | 212 | |
France [Member] | at fair value through OCI [Member] | ||
Credit Risk Profile by Region [Line Items] | ||
Loans | 81 | |
Debt securities | 1,559 | |
Repo and repo-style transactions | 0 | [1],[3] |
France [Member] | Revocable and irrevocable lending commitments [Member] | ||
Credit Risk Profile by Region [Line Items] | ||
Off-balance sheet | 5,025 | |
France [Member] | Contingent liabilities [Member] | ||
Credit Risk Profile by Region [Line Items] | ||
Off-balance sheet | 2,460 | |
Luxembourg [Member] | Credit Risk Profile [Domain Member] | ||
Credit Risk Profile by Region [Line Items] | ||
Total | 29,796 | |
Luxembourg [Member] | at amortized cost [Member] | ||
Credit Risk Profile by Region [Line Items] | ||
Loans | 7,543 | |
Debt securities | 167 | |
Repo and repo-style transactions | 89 | [1],[2] |
Luxembourg [Member] | at fair value through P/L [Member] | ||
Credit Risk Profile by Region [Line Items] | ||
Loans | 533 | |
OTC derivatives | 933 | |
Debt securities | 1,332 | |
Repo and repo-style transactions | 1,206 | [1] |
Luxembourg [Member] | Designated / mandatory at fair value through P/L [Member] | ||
Credit Risk Profile by Region [Line Items] | ||
Loans | 6,920 | |
Luxembourg [Member] | at fair value through OCI [Member] | ||
Credit Risk Profile by Region [Line Items] | ||
Loans | 41 | |
Debt securities | 3,474 | |
Repo and repo-style transactions | 0 | [1],[3] |
Luxembourg [Member] | Revocable and irrevocable lending commitments [Member] | ||
Credit Risk Profile by Region [Line Items] | ||
Off-balance sheet | 6,682 | |
Luxembourg [Member] | Contingent liabilities [Member] | ||
Credit Risk Profile by Region [Line Items] | ||
Off-balance sheet | 875 | |
Italy [Member] | Credit Risk Profile [Domain Member] | ||
Credit Risk Profile by Region [Line Items] | ||
Total | 35,563 | |
Italy [Member] | at amortized cost [Member] | ||
Credit Risk Profile by Region [Line Items] | ||
Loans | 21,363 | |
Debt securities | 249 | |
Repo and repo-style transactions | 578 | [1],[2] |
Italy [Member] | at fair value through P/L [Member] | ||
Credit Risk Profile by Region [Line Items] | ||
Loans | 373 | |
OTC derivatives | 1,174 | |
Debt securities | 2,707 | |
Repo and repo-style transactions | 1,040 | [1] |
Italy [Member] | Designated / mandatory at fair value through P/L [Member] | ||
Credit Risk Profile by Region [Line Items] | ||
Loans | 99 | |
Italy [Member] | at fair value through OCI [Member] | ||
Credit Risk Profile by Region [Line Items] | ||
Loans | 0 | |
Debt securities | 1,146 | |
Repo and repo-style transactions | 0 | [1],[3] |
Italy [Member] | Revocable and irrevocable lending commitments [Member] | ||
Credit Risk Profile by Region [Line Items] | ||
Off-balance sheet | 3,417 | |
Italy [Member] | Contingent liabilities [Member] | ||
Credit Risk Profile by Region [Line Items] | ||
Off-balance sheet | 3,416 | |
Netherlands [Member] | Credit Risk Profile [Domain Member] | ||
Credit Risk Profile by Region [Line Items] | ||
Total | 25,130 | |
Netherlands [Member] | at amortized cost [Member] | ||
Credit Risk Profile by Region [Line Items] | ||
Loans | 7,968 | |
Debt securities | 592 | |
Repo and repo-style transactions | 0 | [1],[2] |
Netherlands [Member] | at fair value through P/L [Member] | ||
Credit Risk Profile by Region [Line Items] | ||
Loans | 125 | |
OTC derivatives | 1,984 | |
Debt securities | 1,785 | |
Repo and repo-style transactions | 179 | [1] |
Netherlands [Member] | Designated / mandatory at fair value through P/L [Member] | ||
Credit Risk Profile by Region [Line Items] | ||
Loans | 41 | |
Netherlands [Member] | at fair value through OCI [Member] | ||
Credit Risk Profile by Region [Line Items] | ||
Loans | 384 | |
Debt securities | 1,219 | |
Repo and repo-style transactions | 0 | [1],[3] |
Netherlands [Member] | Revocable and irrevocable lending commitments [Member] | ||
Credit Risk Profile by Region [Line Items] | ||
Off-balance sheet | 9,384 | |
Netherlands [Member] | Contingent liabilities [Member] | ||
Credit Risk Profile by Region [Line Items] | ||
Off-balance sheet | 1,470 | |
Spain [Member] | Credit Risk Profile [Domain Member] | ||
Credit Risk Profile by Region [Line Items] | ||
Total | 27,504 | |
Spain [Member] | at amortized cost [Member] | ||
Credit Risk Profile by Region [Line Items] | ||
Loans | 16,729 | |
Debt securities | 168 | |
Repo and repo-style transactions | 379 | [1],[2] |
Spain [Member] | at fair value through P/L [Member] | ||
Credit Risk Profile by Region [Line Items] | ||
Loans | 320 | |
OTC derivatives | 931 | |
Debt securities | 2,146 | |
Repo and repo-style transactions | 529 | [1] |
Spain [Member] | Designated / mandatory at fair value through P/L [Member] | ||
Credit Risk Profile by Region [Line Items] | ||
Loans | 57 | |
Spain [Member] | at fair value through OCI [Member] | ||
Credit Risk Profile by Region [Line Items] | ||
Loans | 67 | |
Debt securities | 504 | |
Repo and repo-style transactions | 0 | [1],[3] |
Spain [Member] | Revocable and irrevocable lending commitments [Member] | ||
Credit Risk Profile by Region [Line Items] | ||
Off-balance sheet | 2,507 | |
Spain [Member] | Contingent liabilities [Member] | ||
Credit Risk Profile by Region [Line Items] | ||
Off-balance sheet | 3,167 | |
Ireland [Member] | Credit Risk Profile [Domain Member] | ||
Credit Risk Profile by Region [Line Items] | ||
Total | 13,370 | |
Ireland [Member] | at amortized cost [Member] | ||
Credit Risk Profile by Region [Line Items] | ||
Loans | 5,792 | |
Debt securities | 91 | |
Repo and repo-style transactions | 0 | [1],[2] |
Ireland [Member] | at fair value through P/L [Member] | ||
Credit Risk Profile by Region [Line Items] | ||
Loans | 230 | |
OTC derivatives | 772 | |
Debt securities | 920 | |
Repo and repo-style transactions | 1,277 | [1] |
Ireland [Member] | Designated / mandatory at fair value through P/L [Member] | ||
Credit Risk Profile by Region [Line Items] | ||
Loans | 324 | |
Ireland [Member] | at fair value through OCI [Member] | ||
Credit Risk Profile by Region [Line Items] | ||
Loans | 166 | |
Debt securities | 215 | |
Repo and repo-style transactions | 0 | [1],[3] |
Ireland [Member] | Revocable and irrevocable lending commitments [Member] | ||
Credit Risk Profile by Region [Line Items] | ||
Off-balance sheet | 3,430 | |
Ireland [Member] | Contingent liabilities [Member] | ||
Credit Risk Profile by Region [Line Items] | ||
Off-balance sheet | 153 | |
Switzerland [Member] | Credit Risk Profile [Domain Member] | ||
Credit Risk Profile by Region [Line Items] | ||
Total | 14,139 | |
Switzerland [Member] | at amortized cost [Member] | ||
Credit Risk Profile by Region [Line Items] | ||
Loans | 5,960 | |
Debt securities | 40 | |
Repo and repo-style transactions | 112 | [1],[2] |
Switzerland [Member] | at fair value through P/L [Member] | ||
Credit Risk Profile by Region [Line Items] | ||
Loans | 31 | |
OTC derivatives | 251 | |
Debt securities | 560 | |
Repo and repo-style transactions | 316 | [1] |
Switzerland [Member] | Designated / mandatory at fair value through P/L [Member] | ||
Credit Risk Profile by Region [Line Items] | ||
Loans | 127 | |
Switzerland [Member] | at fair value through OCI [Member] | ||
Credit Risk Profile by Region [Line Items] | ||
Loans | 208 | |
Debt securities | 119 | |
Repo and repo-style transactions | 0 | [1],[3] |
Switzerland [Member] | Revocable and irrevocable lending commitments [Member] | ||
Credit Risk Profile by Region [Line Items] | ||
Off-balance sheet | 3,996 | |
Switzerland [Member] | Contingent liabilities [Member] | ||
Credit Risk Profile by Region [Line Items] | ||
Off-balance sheet | 2,419 | |
Poland [Member] | Credit Risk Profile [Domain Member] | ||
Credit Risk Profile by Region [Line Items] | ||
Total | 6,144 | |
Poland [Member] | at amortized cost [Member] | ||
Credit Risk Profile by Region [Line Items] | ||
Loans | 3,135 | |
Debt securities | 0 | |
Repo and repo-style transactions | 0 | [1],[2] |
Poland [Member] | at fair value through P/L [Member] | ||
Credit Risk Profile by Region [Line Items] | ||
Loans | 0 | |
OTC derivatives | 53 | |
Debt securities | 130 | |
Repo and repo-style transactions | 0 | [1] |
Poland [Member] | Designated / mandatory at fair value through P/L [Member] | ||
Credit Risk Profile by Region [Line Items] | ||
Loans | 5 | |
Poland [Member] | at fair value through OCI [Member] | ||
Credit Risk Profile by Region [Line Items] | ||
Loans | 0 | |
Debt securities | 2,387 | |
Repo and repo-style transactions | 0 | [1],[3] |
Poland [Member] | Revocable and irrevocable lending commitments [Member] | ||
Credit Risk Profile by Region [Line Items] | ||
Off-balance sheet | 301 | |
Poland [Member] | Contingent liabilities [Member] | ||
Credit Risk Profile by Region [Line Items] | ||
Off-balance sheet | 132 | |
Belgium [Member] | Credit Risk Profile [Domain Member] | ||
Credit Risk Profile by Region [Line Items] | ||
Total | 4,935 | |
Belgium [Member] | at amortized cost [Member] | ||
Credit Risk Profile by Region [Line Items] | ||
Loans | 988 | |
Debt securities | 139 | |
Repo and repo-style transactions | 0 | [1],[2] |
Belgium [Member] | at fair value through P/L [Member] | ||
Credit Risk Profile by Region [Line Items] | ||
Loans | 2 | |
OTC derivatives | 264 | |
Debt securities | 542 | |
Repo and repo-style transactions | 0 | [1] |
Belgium [Member] | Designated / mandatory at fair value through P/L [Member] | ||
Credit Risk Profile by Region [Line Items] | ||
Loans | 53 | |
Belgium [Member] | at fair value through OCI [Member] | ||
Credit Risk Profile by Region [Line Items] | ||
Loans | 84 | |
Debt securities | 481 | |
Repo and repo-style transactions | 0 | [1],[3] |
Belgium [Member] | Revocable and irrevocable lending commitments [Member] | ||
Credit Risk Profile by Region [Line Items] | ||
Off-balance sheet | 1,986 | |
Belgium [Member] | Contingent liabilities [Member] | ||
Credit Risk Profile by Region [Line Items] | ||
Off-balance sheet | 395 | |
Other Europe [Member] | Credit Risk Profile [Domain Member] | ||
Credit Risk Profile by Region [Line Items] | ||
Total | 26,938 | |
Other Europe [Member] | at amortized cost [Member] | ||
Credit Risk Profile by Region [Line Items] | ||
Loans | 9,104 | |
Debt securities | 682 | |
Repo and repo-style transactions | 1,344 | [1],[2] |
Other Europe [Member] | at fair value through P/L [Member] | ||
Credit Risk Profile by Region [Line Items] | ||
Loans | 924 | |
OTC derivatives | 2,033 | |
Debt securities | 2,038 | |
Repo and repo-style transactions | 836 | [1] |
Other Europe [Member] | Designated / mandatory at fair value through P/L [Member] | ||
Credit Risk Profile by Region [Line Items] | ||
Loans | 431 | |
Other Europe [Member] | at fair value through OCI [Member] | ||
Credit Risk Profile by Region [Line Items] | ||
Loans | 85 | |
Debt securities | 1,724 | |
Repo and repo-style transactions | 315 | [1],[3] |
Other Europe [Member] | Revocable and irrevocable lending commitments [Member] | ||
Credit Risk Profile by Region [Line Items] | ||
Off-balance sheet | 6,057 | |
Other Europe [Member] | Contingent liabilities [Member] | ||
Credit Risk Profile by Region [Line Items] | ||
Off-balance sheet | 1,366 | |
North America [Member] | Credit Risk Profile [Domain Member] | ||
Credit Risk Profile by Region [Line Items] | ||
Total | 280,306 | |
North America [Member] | at amortized cost [Member] | ||
Credit Risk Profile by Region [Line Items] | ||
Loans | 65,716 | |
Debt securities | 237 | |
Repo and repo-style transactions | 1,942 | [1],[2] |
North America [Member] | at fair value through P/L [Member] | ||
Credit Risk Profile by Region [Line Items] | ||
Loans | 4,383 | |
OTC derivatives | 8,011 | |
Debt securities | 34,356 | |
Repo and repo-style transactions | 45,548 | [1] |
North America [Member] | Designated / mandatory at fair value through P/L [Member] | ||
Credit Risk Profile by Region [Line Items] | ||
Loans | 2,365 | |
North America [Member] | at fair value through OCI [Member] | ||
Credit Risk Profile by Region [Line Items] | ||
Loans | 2,311 | |
Debt securities | 14,491 | |
Repo and repo-style transactions | 0 | [1],[3] |
North America [Member] | Revocable and irrevocable lending commitments [Member] | ||
Credit Risk Profile by Region [Line Items] | ||
Off-balance sheet | 91,672 | |
North America [Member] | Contingent liabilities [Member] | ||
Credit Risk Profile by Region [Line Items] | ||
Off-balance sheet | 9,274 | |
US [Member] | Credit Risk Profile [Domain Member] | ||
Credit Risk Profile by Region [Line Items] | ||
Total | 241,186 | |
US [Member] | at amortized cost [Member] | ||
Credit Risk Profile by Region [Line Items] | ||
Loans | 53,195 | |
Debt securities | 220 | |
Repo and repo-style transactions | 1,275 | [1],[2] |
US [Member] | at fair value through P/L [Member] | ||
Credit Risk Profile by Region [Line Items] | ||
Loans | 4,036 | |
OTC derivatives | 6,196 | |
Debt securities | 33,112 | |
Repo and repo-style transactions | 30,428 | [1] |
US [Member] | Designated / mandatory at fair value through P/L [Member] | ||
Credit Risk Profile by Region [Line Items] | ||
Loans | 2,358 | |
US [Member] | at fair value through OCI [Member] | ||
Credit Risk Profile by Region [Line Items] | ||
Loans | 2,209 | |
Debt securities | 13,915 | |
Repo and repo-style transactions | 0 | [1],[3] |
US [Member] | Revocable and irrevocable lending commitments [Member] | ||
Credit Risk Profile by Region [Line Items] | ||
Off-balance sheet | 85,445 | |
US [Member] | Contingent liabilities [Member] | ||
Credit Risk Profile by Region [Line Items] | ||
Off-balance sheet | 8,797 | |
Cayman Islands [Member] | Credit Risk Profile [Domain Member] | ||
Credit Risk Profile by Region [Line Items] | ||
Total | 20,937 | |
Cayman Islands [Member] | at amortized cost [Member] | ||
Credit Risk Profile by Region [Line Items] | ||
Loans | 2,562 | |
Debt securities | 0 | |
Repo and repo-style transactions | 655 | [1],[2] |
Cayman Islands [Member] | at fair value through P/L [Member] | ||
Credit Risk Profile by Region [Line Items] | ||
Loans | 55 | |
OTC derivatives | 756 | |
Debt securities | 631 | |
Repo and repo-style transactions | 14,094 | [1] |
Cayman Islands [Member] | Designated / mandatory at fair value through P/L [Member] | ||
Credit Risk Profile by Region [Line Items] | ||
Loans | 7 | |
Cayman Islands [Member] | at fair value through OCI [Member] | ||
Credit Risk Profile by Region [Line Items] | ||
Loans | 0 | |
Debt securities | 9 | |
Repo and repo-style transactions | 0 | [1],[3] |
Cayman Islands [Member] | Revocable and irrevocable lending commitments [Member] | ||
Credit Risk Profile by Region [Line Items] | ||
Off-balance sheet | 2,151 | |
Cayman Islands [Member] | Contingent liabilities [Member] | ||
Credit Risk Profile by Region [Line Items] | ||
Off-balance sheet | 17 | |
Canada [Member] | Credit Risk Profile [Domain Member] | ||
Credit Risk Profile by Region [Line Items] | ||
Total | 7,707 | |
Canada [Member] | at amortized cost [Member] | ||
Credit Risk Profile by Region [Line Items] | ||
Loans | 2,181 | |
Debt securities | 0 | |
Repo and repo-style transactions | 0 | [1],[2] |
Canada [Member] | at fair value through P/L [Member] | ||
Credit Risk Profile by Region [Line Items] | ||
Loans | 48 | |
OTC derivatives | 828 | |
Debt securities | 419 | |
Repo and repo-style transactions | 847 | [1] |
Canada [Member] | Designated / mandatory at fair value through P/L [Member] | ||
Credit Risk Profile by Region [Line Items] | ||
Loans | 0 | |
Canada [Member] | at fair value through OCI [Member] | ||
Credit Risk Profile by Region [Line Items] | ||
Loans | 102 | |
Debt securities | 556 | |
Repo and repo-style transactions | 0 | [1],[3] |
Canada [Member] | Revocable and irrevocable lending commitments [Member] | ||
Credit Risk Profile by Region [Line Items] | ||
Off-balance sheet | 2,649 | |
Canada [Member] | Contingent liabilities [Member] | ||
Credit Risk Profile by Region [Line Items] | ||
Off-balance sheet | 76 | |
Other North America [Member] | Credit Risk Profile [Domain Member] | ||
Credit Risk Profile by Region [Line Items] | ||
Total | 10,476 | |
Other North America [Member] | at amortized cost [Member] | ||
Credit Risk Profile by Region [Line Items] | ||
Loans | 7,778 | |
Debt securities | 17 | |
Repo and repo-style transactions | 12 | [1],[2] |
Other North America [Member] | at fair value through P/L [Member] | ||
Credit Risk Profile by Region [Line Items] | ||
Loans | 244 | |
OTC derivatives | 232 | |
Debt securities | 194 | |
Repo and repo-style transactions | 178 | [1] |
Other North America [Member] | Designated / mandatory at fair value through P/L [Member] | ||
Credit Risk Profile by Region [Line Items] | ||
Loans | 0 | |
Other North America [Member] | at fair value through OCI [Member] | ||
Credit Risk Profile by Region [Line Items] | ||
Loans | 0 | |
Debt securities | 10 | |
Repo and repo-style transactions | 0 | [1],[3] |
Other North America [Member] | Revocable and irrevocable lending commitments [Member] | ||
Credit Risk Profile by Region [Line Items] | ||
Off-balance sheet | 1,427 | |
Other North America [Member] | Contingent liabilities [Member] | ||
Credit Risk Profile by Region [Line Items] | ||
Off-balance sheet | 384 | |
Asia/Pacific [Member] | Credit Risk Profile [Domain Member] | ||
Credit Risk Profile by Region [Line Items] | ||
Total | 98,632 | |
Asia/Pacific [Member] | at amortized cost [Member] | ||
Credit Risk Profile by Region [Line Items] | ||
Loans | 38,176 | |
Debt securities | 495 | |
Repo and repo-style transactions | 4,567 | [1],[2] |
Asia/Pacific [Member] | at fair value through P/L [Member] | ||
Credit Risk Profile by Region [Line Items] | ||
Loans | 1,794 | |
OTC derivatives | 2,391 | |
Debt securities | 19,343 | |
Repo and repo-style transactions | 8,625 | [1] |
Asia/Pacific [Member] | Designated / mandatory at fair value through P/L [Member] | ||
Credit Risk Profile by Region [Line Items] | ||
Loans | 471 | |
Asia/Pacific [Member] | at fair value through OCI [Member] | ||
Credit Risk Profile by Region [Line Items] | ||
Loans | 863 | |
Debt securities | 5,037 | |
Repo and repo-style transactions | 226 | [1],[3] |
Asia/Pacific [Member] | Revocable and irrevocable lending commitments [Member] | ||
Credit Risk Profile by Region [Line Items] | ||
Off-balance sheet | 7,052 | |
Asia/Pacific [Member] | Contingent liabilities [Member] | ||
Credit Risk Profile by Region [Line Items] | ||
Off-balance sheet | 9,591 | |
Japan [Member] | Credit Risk Profile [Domain Member] | ||
Credit Risk Profile by Region [Line Items] | ||
Total | 14,545 | |
Japan [Member] | at amortized cost [Member] | ||
Credit Risk Profile by Region [Line Items] | ||
Loans | 1,682 | |
Debt securities | 63 | |
Repo and repo-style transactions | 2,752 | [1],[2] |
Japan [Member] | at fair value through P/L [Member] | ||
Credit Risk Profile by Region [Line Items] | ||
Loans | 37 | |
OTC derivatives | 362 | |
Debt securities | 3,142 | |
Repo and repo-style transactions | 5,808 | [1] |
Japan [Member] | Designated / mandatory at fair value through P/L [Member] | ||
Credit Risk Profile by Region [Line Items] | ||
Loans | 0 | |
Japan [Member] | at fair value through OCI [Member] | ||
Credit Risk Profile by Region [Line Items] | ||
Loans | 123 | |
Debt securities | 8 | |
Repo and repo-style transactions | 0 | [1],[3] |
Japan [Member] | Revocable and irrevocable lending commitments [Member] | ||
Credit Risk Profile by Region [Line Items] | ||
Off-balance sheet | 334 | |
Japan [Member] | Contingent liabilities [Member] | ||
Credit Risk Profile by Region [Line Items] | ||
Off-balance sheet | 236 | |
Australia [Member] | Credit Risk Profile [Domain Member] | ||
Credit Risk Profile by Region [Line Items] | ||
Total | 9,366 | |
Australia [Member] | at amortized cost [Member] | ||
Credit Risk Profile by Region [Line Items] | ||
Loans | 1,224 | |
Debt securities | 0 | |
Repo and repo-style transactions | 19 | [1],[2] |
Australia [Member] | at fair value through P/L [Member] | ||
Credit Risk Profile by Region [Line Items] | ||
Loans | 177 | |
OTC derivatives | 358 | |
Debt securities | 3,977 | |
Repo and repo-style transactions | 523 | [1] |
Australia [Member] | Designated / mandatory at fair value through P/L [Member] | ||
Credit Risk Profile by Region [Line Items] | ||
Loans | 417 | |
Australia [Member] | at fair value through OCI [Member] | ||
Credit Risk Profile by Region [Line Items] | ||
Loans | 11 | |
Debt securities | 510 | |
Repo and repo-style transactions | 0 | [1],[3] |
Australia [Member] | Revocable and irrevocable lending commitments [Member] | ||
Credit Risk Profile by Region [Line Items] | ||
Off-balance sheet | 2,016 | |
Australia [Member] | Contingent liabilities [Member] | ||
Credit Risk Profile by Region [Line Items] | ||
Off-balance sheet | 135 | |
India [Member] | Credit Risk Profile [Domain Member] | ||
Credit Risk Profile by Region [Line Items] | ||
Total | 14,948 | |
India [Member] | at amortized cost [Member] | ||
Credit Risk Profile by Region [Line Items] | ||
Loans | 7,355 | |
Debt securities | 267 | |
Repo and repo-style transactions | 0 | [1],[2] |
India [Member] | at fair value through P/L [Member] | ||
Credit Risk Profile by Region [Line Items] | ||
Loans | 188 | |
OTC derivatives | 115 | |
Debt securities | 2,172 | |
Repo and repo-style transactions | 79 | [1] |
India [Member] | Designated / mandatory at fair value through P/L [Member] | ||
Credit Risk Profile by Region [Line Items] | ||
Loans | 18 | |
India [Member] | at fair value through OCI [Member] | ||
Credit Risk Profile by Region [Line Items] | ||
Loans | 3 | |
Debt securities | 1,849 | |
Repo and repo-style transactions | 61 | [1],[3] |
India [Member] | Revocable and irrevocable lending commitments [Member] | ||
Credit Risk Profile by Region [Line Items] | ||
Off-balance sheet | 782 | |
India [Member] | Contingent liabilities [Member] | ||
Credit Risk Profile by Region [Line Items] | ||
Off-balance sheet | 2,061 | |
China [Member] | Credit Risk Profile [Domain Member] | ||
Credit Risk Profile by Region [Line Items] | ||
Total | 9,192 | |
China [Member] | at amortized cost [Member] | ||
Credit Risk Profile by Region [Line Items] | ||
Loans | 4,530 | |
Debt securities | 0 | |
Repo and repo-style transactions | 0 | [1],[2] |
China [Member] | at fair value through P/L [Member] | ||
Credit Risk Profile by Region [Line Items] | ||
Loans | 60 | |
OTC derivatives | 399 | |
Debt securities | 2,124 | |
Repo and repo-style transactions | 614 | [1] |
China [Member] | Designated / mandatory at fair value through P/L [Member] | ||
Credit Risk Profile by Region [Line Items] | ||
Loans | 0 | |
China [Member] | at fair value through OCI [Member] | ||
Credit Risk Profile by Region [Line Items] | ||
Loans | 18 | |
Debt securities | 0 | |
Repo and repo-style transactions | 0 | [1],[3] |
China [Member] | Revocable and irrevocable lending commitments [Member] | ||
Credit Risk Profile by Region [Line Items] | ||
Off-balance sheet | 346 | |
China [Member] | Contingent liabilities [Member] | ||
Credit Risk Profile by Region [Line Items] | ||
Off-balance sheet | 1,101 | |
Singapore [Member] | Credit Risk Profile [Domain Member] | ||
Credit Risk Profile by Region [Line Items] | ||
Total | 11,242 | |
Singapore [Member] | at amortized cost [Member] | ||
Credit Risk Profile by Region [Line Items] | ||
Loans | 6,136 | |
Debt securities | 114 | |
Repo and repo-style transactions | 0 | [1],[2] |
Singapore [Member] | at fair value through P/L [Member] | ||
Credit Risk Profile by Region [Line Items] | ||
Loans | 238 | |
OTC derivatives | 192 | |
Debt securities | 1,403 | |
Repo and repo-style transactions | 325 | [1] |
Singapore [Member] | Designated / mandatory at fair value through P/L [Member] | ||
Credit Risk Profile by Region [Line Items] | ||
Loans | 0 | |
Singapore [Member] | at fair value through OCI [Member] | ||
Credit Risk Profile by Region [Line Items] | ||
Loans | 109 | |
Debt securities | 671 | |
Repo and repo-style transactions | 0 | [1],[3] |
Singapore [Member] | Revocable and irrevocable lending commitments [Member] | ||
Credit Risk Profile by Region [Line Items] | ||
Off-balance sheet | 1,063 | |
Singapore [Member] | Contingent liabilities [Member] | ||
Credit Risk Profile by Region [Line Items] | ||
Off-balance sheet | 992 | |
Hong Kong [Member] | Credit Risk Profile [Domain Member] | ||
Credit Risk Profile by Region [Line Items] | ||
Total | 6,746 | |
Hong Kong [Member] | at amortized cost [Member] | ||
Credit Risk Profile by Region [Line Items] | ||
Loans | 4,026 | |
Debt securities | 0 | |
Repo and repo-style transactions | 0 | [1],[2] |
Hong Kong [Member] | at fair value through P/L [Member] | ||
Credit Risk Profile by Region [Line Items] | ||
Loans | 203 | |
OTC derivatives | 138 | |
Debt securities | 520 | |
Repo and repo-style transactions | 11 | [1] |
Hong Kong [Member] | Designated / mandatory at fair value through P/L [Member] | ||
Credit Risk Profile by Region [Line Items] | ||
Loans | 0 | |
Hong Kong [Member] | at fair value through OCI [Member] | ||
Credit Risk Profile by Region [Line Items] | ||
Loans | 17 | |
Debt securities | 222 | |
Repo and repo-style transactions | 0 | [1],[3] |
Hong Kong [Member] | Revocable and irrevocable lending commitments [Member] | ||
Credit Risk Profile by Region [Line Items] | ||
Off-balance sheet | 1,023 | |
Hong Kong [Member] | Contingent liabilities [Member] | ||
Credit Risk Profile by Region [Line Items] | ||
Off-balance sheet | 586 | |
Other Asia/Pacific [Member] | Credit Risk Profile [Domain Member] | ||
Credit Risk Profile by Region [Line Items] | ||
Total | 32,594 | |
Other Asia/Pacific [Member] | at amortized cost [Member] | ||
Credit Risk Profile by Region [Line Items] | ||
Loans | 13,223 | |
Debt securities | 51 | |
Repo and repo-style transactions | 1,797 | [1],[2] |
Other Asia/Pacific [Member] | at fair value through P/L [Member] | ||
Credit Risk Profile by Region [Line Items] | ||
Loans | 893 | |
OTC derivatives | 827 | |
Debt securities | 6,006 | |
Repo and repo-style transactions | 1,266 | [1] |
Other Asia/Pacific [Member] | Designated / mandatory at fair value through P/L [Member] | ||
Credit Risk Profile by Region [Line Items] | ||
Loans | 37 | |
Other Asia/Pacific [Member] | at fair value through OCI [Member] | ||
Credit Risk Profile by Region [Line Items] | ||
Loans | 582 | |
Debt securities | 1,777 | |
Repo and repo-style transactions | 165 | [1],[3] |
Other Asia/Pacific [Member] | Revocable and irrevocable lending commitments [Member] | ||
Credit Risk Profile by Region [Line Items] | ||
Off-balance sheet | 1,489 | |
Other Asia/Pacific [Member] | Contingent liabilities [Member] | ||
Credit Risk Profile by Region [Line Items] | ||
Off-balance sheet | 4,480 | |
Other countries [Member] | Credit Risk Profile [Domain Member] | ||
Credit Risk Profile by Region [Line Items] | ||
Total | 16,651 | |
Other countries [Member] | at amortized cost [Member] | ||
Credit Risk Profile by Region [Line Items] | ||
Loans | 6,667 | |
Debt securities | 0 | |
Repo and repo-style transactions | 714 | [1],[2] |
Other countries [Member] | at fair value through P/L [Member] | ||
Credit Risk Profile by Region [Line Items] | ||
Loans | 1,456 | |
OTC derivatives | 625 | |
Debt securities | 2,506 | |
Repo and repo-style transactions | 237 | [1] |
Other countries [Member] | Designated / mandatory at fair value through P/L [Member] | ||
Credit Risk Profile by Region [Line Items] | ||
Loans | 0 | |
Other countries [Member] | at fair value through OCI [Member] | ||
Credit Risk Profile by Region [Line Items] | ||
Loans | 132 | |
Debt securities | 543 | |
Repo and repo-style transactions | 555 | [1],[3] |
Other countries [Member] | Revocable and irrevocable lending commitments [Member] | ||
Credit Risk Profile by Region [Line Items] | ||
Off-balance sheet | 1,651 | |
Other countries [Member] | Contingent liabilities [Member] | ||
Credit Risk Profile by Region [Line Items] | ||
Off-balance sheet | € 1,566 | |
[1] | Before reflection of collateral and limited to securities purchased under resale agreements and securities borrowed | |
[2] | Includes stage 3 and stage 3 POCI repo and repo-style transactions at amortized cost amounting to EUR0 as of December 31, 2018 | |
[3] | Includes stage 3 and stage 3 POCI repo and repo-style transactions at fair value through OCI amounting to EUR0 as of December 31, 2018. |
Risk Report - Credit Risk Exp_3
Risk Report - Credit Risk Exposure - Credit Risk Profile by Region IAS39 (Detail) - IAS 39 [Member] € in Millions | Dec. 31, 2017EUR (€) | |
Total countries [Domain Member] | ||
Credit Risk Profile by Region [Line Items] | ||
Loans | € 405,621 | |
Irrevocable lending commitments | 158,253 | |
Contingent liabilities | 48,212 | |
OTC derivatives | 31,430 | [1] |
Traded Loans | 10,876 | |
Traded Bonds | 87,264 | |
Debt securities | 48,251 | [2] |
Repo and repo-style transactions | 104,800 | [3] |
Total | 894,707 | |
Europe [Member] | ||
Credit Risk Profile by Region [Line Items] | ||
Loans | 299,937 | |
Irrevocable lending commitments | 65,739 | |
Contingent liabilities | 27,574 | |
OTC derivatives | 18,353 | [1] |
Traded Loans | 3,149 | |
Traded Bonds | 33,120 | |
Debt securities | 35,304 | [2] |
Repo and repo-style transactions | 26,648 | [3] |
Total | 509,825 | |
Germany [Member] | ||
Credit Risk Profile by Region [Line Items] | ||
Loans | 199,867 | |
Irrevocable lending commitments | 27,483 | |
Contingent liabilities | 10,739 | |
OTC derivatives | 1,661 | [1] |
Traded Loans | 146 | |
Traded Bonds | 4,912 | |
Debt securities | 12,414 | [2] |
Repo and repo-style transactions | 3,421 | [3] |
Total | 260,644 | |
UK [Member] | ||
Credit Risk Profile by Region [Line Items] | ||
Loans | 6,895 | |
Irrevocable lending commitments | 5,748 | |
Contingent liabilities | 1,514 | |
OTC derivatives | 5,849 | [1] |
Traded Loans | 190 | |
Traded Bonds | 9,668 | |
Debt securities | 864 | [2] |
Repo and repo-style transactions | 10,123 | [3] |
Total | 40,851 | |
France [Member] | ||
Credit Risk Profile by Region [Line Items] | ||
Loans | 2,651 | |
Irrevocable lending commitments | 8,265 | |
Contingent liabilities | 1,266 | |
OTC derivatives | 1,231 | [1] |
Traded Loans | 242 | |
Traded Bonds | 3,096 | |
Debt securities | 3,597 | [2] |
Repo and repo-style transactions | 3,442 | [3] |
Total | 23,788 | |
Luxembourg [Member] | ||
Credit Risk Profile by Region [Line Items] | ||
Loans | 15,983 | |
Irrevocable lending commitments | 2,858 | |
Contingent liabilities | 484 | |
OTC derivatives | 1,102 | [1] |
Traded Loans | 247 | |
Traded Bonds | 1,017 | |
Debt securities | 6,142 | [2] |
Repo and repo-style transactions | 711 | [3] |
Total | 28,544 | |
Italy [Member] | ||
Credit Risk Profile by Region [Line Items] | ||
Loans | 21,836 | |
Irrevocable lending commitments | 1,642 | |
Contingent liabilities | 3,657 | |
OTC derivatives | 1,750 | [1] |
Traded Loans | 497 | |
Traded Bonds | 4,167 | |
Debt securities | 642 | [2] |
Repo and repo-style transactions | 820 | [3] |
Total | 35,012 | |
Netherlands [Member] | ||
Credit Risk Profile by Region [Line Items] | ||
Loans | 8,304 | |
Irrevocable lending commitments | 6,498 | |
Contingent liabilities | 1,627 | |
OTC derivatives | 2,292 | [1] |
Traded Loans | 493 | |
Traded Bonds | 2,022 | |
Debt securities | 2,793 | [2] |
Repo and repo-style transactions | 82 | [3] |
Total | 24,112 | |
Spain [Member] | ||
Credit Risk Profile by Region [Line Items] | ||
Loans | 13,250 | |
Irrevocable lending commitments | 1,866 | |
Contingent liabilities | 3,046 | |
OTC derivatives | 704 | [1] |
Traded Loans | 227 | |
Traded Bonds | 2,188 | |
Debt securities | 946 | [2] |
Repo and repo-style transactions | 987 | [3] |
Total | 23,213 | |
Ireland [Member] | ||
Credit Risk Profile by Region [Line Items] | ||
Loans | 4,415 | |
Irrevocable lending commitments | 1,843 | |
Contingent liabilities | 481 | |
OTC derivatives | 972 | [1] |
Traded Loans | 272 | |
Traded Bonds | 1,022 | |
Debt securities | 655 | [2] |
Repo and repo-style transactions | 2,673 | [3] |
Total | 12,333 | |
Switzerland [Member] | ||
Credit Risk Profile by Region [Line Items] | ||
Loans | 6,922 | |
Irrevocable lending commitments | 2,324 | |
Contingent liabilities | 2,488 | |
OTC derivatives | 313 | [1] |
Traded Loans | 65 | |
Traded Bonds | 644 | |
Debt securities | 163 | [2] |
Repo and repo-style transactions | 416 | [3] |
Total | 13,336 | |
Poland [Member] | ||
Credit Risk Profile by Region [Line Items] | ||
Loans | 7,871 | |
Irrevocable lending commitments | 807 | |
Contingent liabilities | 234 | |
OTC derivatives | 26 | [1] |
Traded Loans | 36 | |
Traded Bonds | 296 | |
Debt securities | 1,820 | [2] |
Repo and repo-style transactions | 0 | [3] |
Total | 11,089 | |
Belgium [Member] | ||
Credit Risk Profile by Region [Line Items] | ||
Loans | 1,177 | |
Irrevocable lending commitments | 1,280 | |
Contingent liabilities | 405 | |
OTC derivatives | 352 | [1] |
Traded Loans | 12 | |
Traded Bonds | 601 | |
Debt securities | 1,574 | [2] |
Repo and repo-style transactions | 0 | [3] |
Total | 5,401 | |
Other Europe [Member] | ||
Credit Risk Profile by Region [Line Items] | ||
Loans | 10,765 | |
Irrevocable lending commitments | 5,124 | |
Contingent liabilities | 1,633 | |
OTC derivatives | 2,099 | [1] |
Traded Loans | 723 | |
Traded Bonds | 3,486 | |
Debt securities | 3,696 | [2] |
Repo and repo-style transactions | 3,975 | [3] |
Total | 31,500 | |
North America [Member] | ||
Credit Risk Profile by Region [Line Items] | ||
Loans | 64,086 | |
Irrevocable lending commitments | 85,358 | |
Contingent liabilities | 10,031 | |
OTC derivatives | 10,015 | [1] |
Traded Loans | 5,129 | |
Traded Bonds | 31,636 | |
Debt securities | 10,986 | [2] |
Repo and repo-style transactions | 56,776 | [3] |
Total | 274,017 | |
US [Member] | ||
Credit Risk Profile by Region [Line Items] | ||
Loans | 53,795 | |
Irrevocable lending commitments | 80,776 | |
Contingent liabilities | 9,489 | |
OTC derivatives | 8,036 | [1] |
Traded Loans | 4,750 | |
Traded Bonds | 29,972 | |
Debt securities | 10,623 | [2] |
Repo and repo-style transactions | 44,659 | [3] |
Total | 242,101 | |
Cayman Islands [Member] | ||
Credit Risk Profile by Region [Line Items] | ||
Loans | 2,312 | |
Irrevocable lending commitments | 1,951 | |
Contingent liabilities | 52 | |
OTC derivatives | 700 | [1] |
Traded Loans | 103 | |
Traded Bonds | 1,041 | |
Debt securities | 17 | [2] |
Repo and repo-style transactions | 9,162 | [3] |
Total | 15,336 | |
Canada [Member] | ||
Credit Risk Profile by Region [Line Items] | ||
Loans | 838 | |
Irrevocable lending commitments | 1,564 | |
Contingent liabilities | 110 | |
OTC derivatives | 1,092 | [1] |
Traded Loans | 87 | |
Traded Bonds | 272 | |
Debt securities | 346 | [2] |
Repo and repo-style transactions | 1,688 | [3] |
Total | 5,996 | |
Other North America [Member] | ||
Credit Risk Profile by Region [Line Items] | ||
Loans | 7,141 | |
Irrevocable lending commitments | 1,068 | |
Contingent liabilities | 380 | |
OTC derivatives | 187 | [1] |
Traded Loans | 190 | |
Traded Bonds | 351 | |
Debt securities | 0 | [2] |
Repo and repo-style transactions | 1,267 | [3] |
Total | 10,584 | |
Asia/Pacific [Member] | ||
Credit Risk Profile by Region [Line Items] | ||
Loans | 34,469 | |
Irrevocable lending commitments | 4,447 | |
Contingent liabilities | 8,967 | |
OTC derivatives | 2,254 | [1] |
Traded Loans | 1,735 | |
Traded Bonds | 20,319 | |
Debt securities | 1,025 | [2] |
Repo and repo-style transactions | 19,909 | [3] |
Total | 93,126 | |
Japan [Member] | ||
Credit Risk Profile by Region [Line Items] | ||
Loans | 1,093 | |
Irrevocable lending commitments | 276 | |
Contingent liabilities | 349 | |
OTC derivatives | 366 | [1] |
Traded Loans | 66 | |
Traded Bonds | 4,760 | |
Debt securities | 15 | [2] |
Repo and repo-style transactions | 10,354 | [3] |
Total | 17,278 | |
Australia [Member] | ||
Credit Risk Profile by Region [Line Items] | ||
Loans | 1,477 | |
Irrevocable lending commitments | 1,076 | |
Contingent liabilities | 128 | |
OTC derivatives | 277 | [1] |
Traded Loans | 310 | |
Traded Bonds | 3,716 | |
Debt securities | 588 | [2] |
Repo and repo-style transactions | 1,453 | [3] |
Total | 9,026 | |
India [Member] | ||
Credit Risk Profile by Region [Line Items] | ||
Loans | 7,034 | |
Irrevocable lending commitments | 717 | |
Contingent liabilities | 1,645 | |
OTC derivatives | 219 | [1] |
Traded Loans | 86 | |
Traded Bonds | 3,973 | |
Debt securities | 0 | [2] |
Repo and repo-style transactions | 1,517 | [3] |
Total | 15,191 | |
China [Member] | ||
Credit Risk Profile by Region [Line Items] | ||
Loans | 4,393 | |
Irrevocable lending commitments | 378 | |
Contingent liabilities | 1,195 | |
OTC derivatives | 263 | [1] |
Traded Loans | 2 | |
Traded Bonds | 836 | |
Debt securities | 0 | [2] |
Repo and repo-style transactions | 3,130 | [3] |
Total | 10,198 | |
Singapore [Member] | ||
Credit Risk Profile by Region [Line Items] | ||
Loans | 4,946 | |
Irrevocable lending commitments | 419 | |
Contingent liabilities | 794 | |
OTC derivatives | 177 | [1] |
Traded Loans | 75 | |
Traded Bonds | 927 | |
Debt securities | 0 | [2] |
Repo and repo-style transactions | 220 | [3] |
Total | 7,559 | |
Hong Kong [Member] | ||
Credit Risk Profile by Region [Line Items] | ||
Loans | 4,224 | |
Irrevocable lending commitments | 385 | |
Contingent liabilities | 598 | |
OTC derivatives | 144 | [1] |
Traded Loans | 551 | |
Traded Bonds | 399 | |
Debt securities | 2 | [2] |
Repo and repo-style transactions | 45 | [3] |
Total | 6,348 | |
Other Asia/Pacific [Member] | ||
Credit Risk Profile by Region [Line Items] | ||
Loans | 11,300 | |
Irrevocable lending commitments | 1,197 | |
Contingent liabilities | 4,259 | |
OTC derivatives | 808 | [1] |
Traded Loans | 644 | |
Traded Bonds | 5,707 | |
Debt securities | 419 | [2] |
Repo and repo-style transactions | 3,190 | [3] |
Total | 27,526 | |
Other countries [Member] | ||
Credit Risk Profile by Region [Line Items] | ||
Loans | 7,130 | |
Irrevocable lending commitments | 2,708 | |
Contingent liabilities | 1,639 | |
OTC derivatives | 808 | [1] |
Traded Loans | 862 | |
Traded Bonds | 2,190 | |
Debt securities | 936 | [2] |
Repo and repo-style transactions | 1,466 | [3] |
Total | € 17,739 | |
[1] | Includes the effect of netting agreements and cash collateral received where applicable. Excludes derivatives qualifying for hedge accounting. | |
[2] | Includes debt securities on financial assets available for sale and securities held to maturity | |
[3] | Before reflection of collateral and limited to securities purchased under resale agreements and securities borrowed |
Risk Report - Sovereign Credit
Risk Report - Sovereign Credit Risk Exposure to Certain Eurozone Countries (Detail) - EUR (€) € in Millions | Dec. 31, 2018 | Dec. 31, 2017 |
Total countries [Domain Member] | ||
Sovereign Credit Risk Exposure to GIIPS Countries [Line Items] | ||
Direct Sovereign exposure | € 5,583 | € 5,040 |
Net Notional of CDS referencing sovereign debt | (1,028) | (1,938) |
Net sovereign exposure | 4,555 | 3,102 |
Memo Item: Net fair value of CDS referencing sovereign debt | 90 | 84 |
Greece [Member] | ||
Sovereign Credit Risk Exposure to GIIPS Countries [Line Items] | ||
Direct Sovereign exposure | 53 | 55 |
Net Notional of CDS referencing sovereign debt | (18) | (17) |
Net sovereign exposure | 35 | 38 |
Memo Item: Net fair value of CDS referencing sovereign debt | 0 | 0 |
Ireland [Member] | ||
Sovereign Credit Risk Exposure to GIIPS Countries [Line Items] | ||
Direct Sovereign exposure | 334 | 709 |
Net Notional of CDS referencing sovereign debt | 5 | 9 |
Net sovereign exposure | 339 | 717 |
Memo Item: Net fair value of CDS referencing sovereign debt | 0 | 0 |
Italy [Member] | ||
Sovereign Credit Risk Exposure to GIIPS Countries [Line Items] | ||
Direct Sovereign exposure | 3,627 | 2,834 |
Net Notional of CDS referencing sovereign debt | (1,089) | (1,818) |
Net sovereign exposure | 2,538 | 1,016 |
Memo Item: Net fair value of CDS referencing sovereign debt | 58 | 49 |
Portugal [Member] | ||
Sovereign Credit Risk Exposure to GIIPS Countries [Line Items] | ||
Direct Sovereign exposure | (204) | (227) |
Net Notional of CDS referencing sovereign debt | 82 | 3 |
Net sovereign exposure | (122) | (223) |
Memo Item: Net fair value of CDS referencing sovereign debt | 5 | 0 |
Spain [Member] | ||
Sovereign Credit Risk Exposure to GIIPS Countries [Line Items] | ||
Direct Sovereign exposure | 1,773 | 1,669 |
Net Notional of CDS referencing sovereign debt | (8) | (115) |
Net sovereign exposure | 1,766 | 1,554 |
Memo Item: Net fair value of CDS referencing sovereign debt | € 27 | € 35 |
Risk Report - Asset Quality - N
Risk Report - Asset Quality - Non-impaired past due loans at amortized cost by past due status (Detail) - Non-impaired past due loans [Member] € in Millions | Dec. 31, 2017EUR (€) |
Total [Member] | |
Nonimpaired Past Due Loan Exposure [Line Items] | |
Loans | € 4,255 |
Loans less than 30 days past due | |
Nonimpaired Past Due Loan Exposure [Line Items] | |
Loans | 2,747 |
Loans 30 or more but less than 60 days past due | |
Nonimpaired Past Due Loan Exposure [Line Items] | |
Loans | 482 |
Loans 60 or more but less than 90 days past due | |
Nonimpaired Past Due Loan Exposure [Line Items] | |
Loans | 250 |
Loans 90 days or more past due | |
Nonimpaired Past Due Loan Exposure [Line Items] | |
Loans | € 776 |
Risk Report - Aggregated Value
Risk Report - Aggregated Value of Collateral - with the fair values of collateral capped at loan outstanding - held against our non-impaired past due loans (Detail) - Aggregated Value of Collateral (Loans Past Due but Not Impaired) [Member] € in Millions | Dec. 31, 2017EUR (€) |
Aggregated Value of Collateral (Loans Past Due but Not Impaired) [Line Items] | |
Financial and other collateral | € 2,364 |
Guarantees received | 148 |
Total | € 2,512 |
Risk Report - Impaired loans, a
Risk Report - Impaired loans, allowance for loan losses and coverage ratios by business division (Detail) € in Millions | 12 Months Ended |
Dec. 31, 2017EUR (€) | |
Total Consolidated Segments [Domain Member] | |
Impaired Loans, Allowance and Coverage Ratio by Business Division [Line Items] | |
Impaired loans | € 6,234 |
Loan loss allowance | € 3,921 |
Impaired loan coverage ratio in % | 63.00% |
Corporate & Investment Bank [Member] | |
Impaired Loans, Allowance and Coverage Ratio by Business Division [Line Items] | |
Impaired loans | € 2,517 |
Loan loss allowance | € 1,565 |
Impaired loan coverage ratio in % | 62.00% |
Private & Commercial Bank [Member] | |
Impaired Loans, Allowance and Coverage Ratio by Business Division [Line Items] | |
Impaired loans | € 3,717 |
Loan loss allowance | € 2,355 |
Impaired loan coverage ratio in % | 63.00% |
Asset Management [Member] | |
Impaired Loans, Allowance and Coverage Ratio by Business Division [Line Items] | |
Impaired loans | € 0 |
Loan loss allowance | 0 |
Non-Core Operations Unit [Member] | |
Impaired Loans, Allowance and Coverage Ratio by Business Division [Line Items] | |
Impaired loans | 0 |
Loan loss allowance | 0 |
thereof: assets reclassified to loans and receivables according to IAS 39 [Member] | |
Impaired Loans, Allowance and Coverage Ratio by Business Division [Line Items] | |
Impaired loans | 0 |
Loan loss allowance | 0 |
Corporate & Other [Member] | |
Impaired Loans, Allowance and Coverage Ratio by Business Division [Line Items] | |
Impaired loans | 1 |
Loan loss allowance | € 1 |
Risk Report - Impaired Loans by
Risk Report - Impaired Loans by Industry Sector (Detail: Text Values) - EUR (€) € in Millions | Dec. 31, 2018 | Dec. 31, 2017 |
Total Impaired Loans [Member] | ||
Impaired Loans by Industry Sector [Line Items] | ||
Transportation, storage and communication | € 0 | € 808 |
Real estate, renting and business activities | 0 | 482 |
Construction | 0 | 378 |
Mining and quarrying | 0 | 169 |
Total loan loss allowance [Member] | ||
Impaired Loans by Industry Sector [Line Items] | ||
Transportation, storage and communication | 0 | 469 |
Real estate, renting and business activities | 0 | 234 |
Construction | 0 | 144 |
Mining and quarrying | € 0 | € 116 |
Risk Report - Impaired loans,_2
Risk Report - Impaired loans, allowance for loan losses and coverage ratios by industry (Detail) € in Millions | Dec. 31, 2017EUR (€) | |
Total Impaired Loans [Member] | ||
Impaired Loans by Industry Sector [Line Items] | ||
Financial intermediation | € 129 | |
Fund management activities | 16 | |
Manufacturing | 685 | |
Wholesale and retail trade | 521 | |
Households, excluding mortgages | 2,388 | |
Commercial real estate activities | 376 | |
Public sector | 74 | |
Other | 2,046 | [1] |
Total | 6,234 | |
Individually assessed [Member] | ||
Impaired Loans by Industry Sector [Line Items] | ||
Financial intermediation | 121 | |
Fund management activities | 8 | |
Manufacturing | 520 | |
Wholesale and retail trade | 333 | |
Households, excluding mortgages | 155 | |
Commercial real estate activities | 345 | |
Public sector | 74 | |
Other | 1,792 | [1] |
Total | 3,348 | |
Collectively assessed [Member] | ||
Impaired Loans by Industry Sector [Line Items] | ||
Financial intermediation | 8 | |
Fund management activities | 8 | |
Manufacturing | 165 | |
Wholesale and retail trade | 188 | |
Households, excluding mortgages | 2,233 | |
Commercial real estate activities | 30 | |
Public sector | 0 | |
Other | 254 | [1] |
Total | 2,886 | |
Total loan loss allowance [Member] | ||
Impaired Loans by Industry Sector [Line Items] | ||
Financial intermediation | 44 | |
Fund management activities | 4 | |
Manufacturing | 635 | |
Wholesale and retail trade | 394 | |
Households, excluding mortgages | 1,526 | |
Commercial real estate activities | 168 | |
Public sector | 17 | |
Other | 1,132 | [1] |
Total | 3,921 | |
Individually assessed allowance [Member] | ||
Impaired Loans by Industry Sector [Line Items] | ||
Financial intermediation | 1 | |
Fund management activities | 1 | |
Manufacturing | 439 | |
Wholesale and retail trade | 211 | |
Households, excluding mortgages | 153 | |
Commercial real estate activities | 115 | |
Public sector | 6 | |
Other | 840 | [1] |
Total | 1,766 | |
Collectively assessed allowance for impaired loans [Member] | ||
Impaired Loans by Industry Sector [Line Items] | ||
Financial intermediation | 3 | |
Fund management activities | 0 | |
Manufacturing | 146 | |
Wholesale and retail trade | 156 | |
Households, excluding mortgages | 1,290 | |
Commercial real estate activities | 11 | |
Public sector | 0 | |
Other | 139 | [1] |
Total | 1,745 | |
Collectively assessed allowance for non-impaired loans [Member] | ||
Impaired Loans by Industry Sector [Line Items] | ||
Financial intermediation | 40 | |
Fund management activities | 3 | |
Manufacturing | 51 | |
Wholesale and retail trade | 27 | |
Households, excluding mortgages | 83 | |
Commercial real estate activities | 42 | |
Public sector | 12 | |
Other | 153 | [1] |
Total | € 410 | |
Impaired loan coverage ratio in % [Member] | ||
Impaired Loans by Industry Sector [Line Items] | ||
Financial intermediation coverage ratio | 34.00% | |
Fund management activities coverage ratio | 24.00% | |
Manufacturing coverage ratio | 93.00% | |
Wholesale and retail trade coverage ratio | 76.00% | |
Households coverage ratio | 64.00% | |
Commercial real estate activities coverage ratio | 45.00% | |
Public sector coverage ratio | 24.00% | |
Other coverage ratio | 55.00% | [1] |
Total coverage ratio | 63.00% | |
[1] | Thereof: Transportation, storage and communication - Total Impaired Loans EUR808million/Total Loan loss allowance EUR469million, Real estate; renting and business activities - EUR482million/ EUR234million, Construction: EUR378million/ EUR144million, Mining and quarrying - EUR169million/ EUR116million. |
Risk Report - Impaired loans _2
Risk Report - Impaired loans by region (Detail) € in Millions | Dec. 31, 2017EUR (€) |
Total Impaired Loans [Member] | Total countries [Domain Member] | |
Impaired Loans by Region [Line Items] | |
Impaired loans | € 6,234 |
Total Impaired Loans [Member] | Germany [Member] | |
Impaired Loans by Region [Line Items] | |
Impaired loans | 2,266 |
Total Impaired Loans [Member] | Western Europe (excluding Germany) [Member] | |
Impaired Loans by Region [Line Items] | |
Impaired loans | 2,892 |
Total Impaired Loans [Member] | Eastern Europe [Member] | |
Impaired Loans by Region [Line Items] | |
Impaired loans | 168 |
Total Impaired Loans [Member] | North America [Member] | |
Impaired Loans by Region [Line Items] | |
Impaired loans | 498 |
Total Impaired Loans [Member] | Central and South America [Member] | |
Impaired Loans by Region [Line Items] | |
Impaired loans | 70 |
Total Impaired Loans [Member] | Asia/Pacific [Member] | |
Impaired Loans by Region [Line Items] | |
Impaired loans | 292 |
Total Impaired Loans [Member] | Africa [Member] | |
Impaired Loans by Region [Line Items] | |
Impaired loans | 49 |
Total Impaired Loans [Member] | Other [Member] | |
Impaired Loans by Region [Line Items] | |
Impaired loans | 0 |
Individually assessed [Member] | Total countries [Domain Member] | |
Impaired Loans by Region [Line Items] | |
Impaired loans | 3,348 |
Individually assessed [Member] | Germany [Member] | |
Impaired Loans by Region [Line Items] | |
Impaired loans | 953 |
Individually assessed [Member] | Western Europe (excluding Germany) [Member] | |
Impaired Loans by Region [Line Items] | |
Impaired loans | 1,471 |
Individually assessed [Member] | Eastern Europe [Member] | |
Impaired Loans by Region [Line Items] | |
Impaired loans | 45 |
Individually assessed [Member] | North America [Member] | |
Impaired Loans by Region [Line Items] | |
Impaired loans | 497 |
Individually assessed [Member] | Central and South America [Member] | |
Impaired Loans by Region [Line Items] | |
Impaired loans | 70 |
Individually assessed [Member] | Asia/Pacific [Member] | |
Impaired Loans by Region [Line Items] | |
Impaired loans | 264 |
Individually assessed [Member] | Africa [Member] | |
Impaired Loans by Region [Line Items] | |
Impaired loans | 48 |
Individually assessed [Member] | Other [Member] | |
Impaired Loans by Region [Line Items] | |
Impaired loans | 0 |
Collectively assessed [Member] | Total countries [Domain Member] | |
Impaired Loans by Region [Line Items] | |
Impaired loans | 2,886 |
Collectively assessed [Member] | Germany [Member] | |
Impaired Loans by Region [Line Items] | |
Impaired loans | 1,312 |
Collectively assessed [Member] | Western Europe (excluding Germany) [Member] | |
Impaired Loans by Region [Line Items] | |
Impaired loans | 1,422 |
Collectively assessed [Member] | Eastern Europe [Member] | |
Impaired Loans by Region [Line Items] | |
Impaired loans | 123 |
Collectively assessed [Member] | North America [Member] | |
Impaired Loans by Region [Line Items] | |
Impaired loans | 1 |
Collectively assessed [Member] | Central and South America [Member] | |
Impaired Loans by Region [Line Items] | |
Impaired loans | 0 |
Collectively assessed [Member] | Asia/Pacific [Member] | |
Impaired Loans by Region [Line Items] | |
Impaired loans | 28 |
Collectively assessed [Member] | Africa [Member] | |
Impaired Loans by Region [Line Items] | |
Impaired loans | 0 |
Collectively assessed [Member] | Other [Member] | |
Impaired Loans by Region [Line Items] | |
Impaired loans | 0 |
Total loan loss allowance [Member] | Total countries [Domain Member] | |
Impaired Loans by Region [Line Items] | |
Impaired loans | 3,921 |
Total loan loss allowance [Member] | Germany [Member] | |
Impaired Loans by Region [Line Items] | |
Impaired loans | 1,527 |
Total loan loss allowance [Member] | Western Europe (excluding Germany) [Member] | |
Impaired Loans by Region [Line Items] | |
Impaired loans | 1,749 |
Total loan loss allowance [Member] | Eastern Europe [Member] | |
Impaired Loans by Region [Line Items] | |
Impaired loans | 147 |
Total loan loss allowance [Member] | North America [Member] | |
Impaired Loans by Region [Line Items] | |
Impaired loans | 170 |
Total loan loss allowance [Member] | Central and South America [Member] | |
Impaired Loans by Region [Line Items] | |
Impaired loans | 35 |
Total loan loss allowance [Member] | Asia/Pacific [Member] | |
Impaired Loans by Region [Line Items] | |
Impaired loans | 272 |
Total loan loss allowance [Member] | Africa [Member] | |
Impaired Loans by Region [Line Items] | |
Impaired loans | 10 |
Total loan loss allowance [Member] | Other [Member] | |
Impaired Loans by Region [Line Items] | |
Impaired loans | 11 |
Individually assessed allowance [Member] | Total countries [Domain Member] | |
Impaired Loans by Region [Line Items] | |
Impaired loans | 1,766 |
Individually assessed allowance [Member] | Germany [Member] | |
Impaired Loans by Region [Line Items] | |
Impaired loans | 600 |
Individually assessed allowance [Member] | Western Europe (excluding Germany) [Member] | |
Impaired Loans by Region [Line Items] | |
Impaired loans | 815 |
Individually assessed allowance [Member] | Eastern Europe [Member] | |
Impaired Loans by Region [Line Items] | |
Impaired loans | 45 |
Individually assessed allowance [Member] | North America [Member] | |
Impaired Loans by Region [Line Items] | |
Impaired loans | 67 |
Individually assessed allowance [Member] | Central and South America [Member] | |
Impaired Loans by Region [Line Items] | |
Impaired loans | 14 |
Individually assessed allowance [Member] | Asia/Pacific [Member] | |
Impaired Loans by Region [Line Items] | |
Impaired loans | 223 |
Individually assessed allowance [Member] | Africa [Member] | |
Impaired Loans by Region [Line Items] | |
Impaired loans | 1 |
Individually assessed allowance [Member] | Other [Member] | |
Impaired Loans by Region [Line Items] | |
Impaired loans | 0 |
Collectively assessed allowance for impaired loans [Member] | Total countries [Domain Member] | |
Impaired Loans by Region [Line Items] | |
Impaired loans | 1,745 |
Collectively assessed allowance for impaired loans [Member] | Germany [Member] | |
Impaired Loans by Region [Line Items] | |
Impaired loans | 823 |
Collectively assessed allowance for impaired loans [Member] | Western Europe (excluding Germany) [Member] | |
Impaired Loans by Region [Line Items] | |
Impaired loans | 822 |
Collectively assessed allowance for impaired loans [Member] | Eastern Europe [Member] | |
Impaired Loans by Region [Line Items] | |
Impaired loans | 92 |
Collectively assessed allowance for impaired loans [Member] | North America [Member] | |
Impaired Loans by Region [Line Items] | |
Impaired loans | 0 |
Collectively assessed allowance for impaired loans [Member] | Central and South America [Member] | |
Impaired Loans by Region [Line Items] | |
Impaired loans | 0 |
Collectively assessed allowance for impaired loans [Member] | Asia/Pacific [Member] | |
Impaired Loans by Region [Line Items] | |
Impaired loans | 8 |
Collectively assessed allowance for impaired loans [Member] | Africa [Member] | |
Impaired Loans by Region [Line Items] | |
Impaired loans | 0 |
Collectively assessed allowance for impaired loans [Member] | Other [Member] | |
Impaired Loans by Region [Line Items] | |
Impaired loans | 0 |
Collectively assessed allowance for non-impaired loans [Member] | Total countries [Domain Member] | |
Impaired Loans by Region [Line Items] | |
Impaired loans | 410 |
Collectively assessed allowance for non-impaired loans [Member] | Germany [Member] | |
Impaired Loans by Region [Line Items] | |
Impaired loans | 104 |
Collectively assessed allowance for non-impaired loans [Member] | Western Europe (excluding Germany) [Member] | |
Impaired Loans by Region [Line Items] | |
Impaired loans | 113 |
Collectively assessed allowance for non-impaired loans [Member] | Eastern Europe [Member] | |
Impaired Loans by Region [Line Items] | |
Impaired loans | 11 |
Collectively assessed allowance for non-impaired loans [Member] | North America [Member] | |
Impaired Loans by Region [Line Items] | |
Impaired loans | 102 |
Collectively assessed allowance for non-impaired loans [Member] | Central and South America [Member] | |
Impaired Loans by Region [Line Items] | |
Impaired loans | 21 |
Collectively assessed allowance for non-impaired loans [Member] | Asia/Pacific [Member] | |
Impaired Loans by Region [Line Items] | |
Impaired loans | 41 |
Collectively assessed allowance for non-impaired loans [Member] | Africa [Member] | |
Impaired Loans by Region [Line Items] | |
Impaired loans | 9 |
Collectively assessed allowance for non-impaired loans [Member] | Other [Member] | |
Impaired Loans by Region [Line Items] | |
Impaired loans | € 11 |
Impaired loan coverage ratio in % [Member] | Total countries [Domain Member] | |
Impaired Loans by Region [Line Items] | |
Impaired loans by region, coverage ratio in % | 63.00% |
Impaired loan coverage ratio in % [Member] | Germany [Member] | |
Impaired Loans by Region [Line Items] | |
Impaired loans by region, coverage ratio in % | 67.00% |
Impaired loan coverage ratio in % [Member] | Western Europe (excluding Germany) [Member] | |
Impaired Loans by Region [Line Items] | |
Impaired loans by region, coverage ratio in % | 60.00% |
Impaired loan coverage ratio in % [Member] | Eastern Europe [Member] | |
Impaired Loans by Region [Line Items] | |
Impaired loans by region, coverage ratio in % | 88.00% |
Impaired loan coverage ratio in % [Member] | North America [Member] | |
Impaired Loans by Region [Line Items] | |
Impaired loans by region, coverage ratio in % | 34.00% |
Impaired loan coverage ratio in % [Member] | Central and South America [Member] | |
Impaired Loans by Region [Line Items] | |
Impaired loans by region, coverage ratio in % | 50.00% |
Impaired loan coverage ratio in % [Member] | Asia/Pacific [Member] | |
Impaired Loans by Region [Line Items] | |
Impaired loans by region, coverage ratio in % | 93.00% |
Impaired loan coverage ratio in % [Member] | Africa [Member] | |
Impaired Loans by Region [Line Items] | |
Impaired loans by region, coverage ratio in % | 20.00% |
Impaired loan coverage ratio in % [Member] | Other [Member] | |
Impaired Loans by Region [Line Items] | |
Impaired loans by region, coverage ratio in % | 0.00% |
Risk Report - Collateral held a
Risk Report - Collateral held against impaired loans, with fair values capped at transactional outstanding (Detail) - Aggregated Value of Collateral (Impaired Loans) [Member] € in Millions | Dec. 31, 2017EUR (€) | |
Aggregated Value of Collateral (Impaired Loans) [Line Items] | ||
Financial and other collateral | € 1,757 | [1] |
Guarantees received | 309 | |
Total collateral held for impaired loans | € 2,066 | |
[1] | Defaulted mortgage loans secured by residential real estate properties, where the loan agreement has been terminated/cancelled are generally subject to formal foreclosure proceedings |
Risk Report - Financial assets
Risk Report - Financial assets available for sale breakdown (Detail) € in Millions | Dec. 31, 2017EUR (€) |
Financial assets available for sale breakdown [Line Items] | |
Financial assets non-impaired past due available for sale | € 1,538 |
thereof [Abstract] | |
Less than 30 days past due | 176 |
30 or more but less than 60 days past due | 23 |
60 or more but less than 90 days past due | 138 |
90 days or more past due | 1,201 |
Impaired financial assets available for sale | 157 |
Accumulated impairment for financial assets available for sale | € 113 |
Impaired financial assets available for sale coverage ratio in % | 71.00% |
Collateral held against impaired financial assets available for sale | € 17 |
thereof: | |
Financial and other collateral | 17 |
Guarantees received | € 0 |
Exposures by Business Division
Exposures by Business Division (Detail) € in Millions | Dec. 31, 2018EUR (€) |
Total Consolidated Segments [Domain Member] | Total Stages [Member] | |
Amortized Cost Exposures by Business Division [Line Items] | |
Gross Carrying Amount | € 678,787 |
Allowance for Credit Losses | 4,259 |
Total Consolidated Segments [Domain Member] | Stage 1 [Member] | |
Amortized Cost Exposures by Business Division [Line Items] | |
Gross Carrying Amount | 637,037 |
Allowance for Credit Losses | 509 |
Total Consolidated Segments [Domain Member] | Stage 2 [Member] | |
Amortized Cost Exposures by Business Division [Line Items] | |
Gross Carrying Amount | 32,335 |
Allowance for Credit Losses | 501 |
Total Consolidated Segments [Domain Member] | Stage 3 [Member] | |
Amortized Cost Exposures by Business Division [Line Items] | |
Gross Carrying Amount | 7,452 |
Allowance for Credit Losses | 3,247 |
Total Consolidated Segments [Domain Member] | Stage 3 POCI [Member] | |
Amortized Cost Exposures by Business Division [Line Items] | |
Gross Carrying Amount | 1,963 |
Allowance for Credit Losses | 3 |
Corporate & Investment Bank [Member] | Total Stages [Member] | |
Amortized Cost Exposures by Business Division [Line Items] | |
Gross Carrying Amount | 345,429 |
Allowance for Credit Losses | 1,183 |
Corporate & Investment Bank [Member] | Stage 1 [Member] | |
Amortized Cost Exposures by Business Division [Line Items] | |
Gross Carrying Amount | 327,094 |
Allowance for Credit Losses | 184 |
Corporate & Investment Bank [Member] | Stage 2 [Member] | |
Amortized Cost Exposures by Business Division [Line Items] | |
Gross Carrying Amount | 14,241 |
Allowance for Credit Losses | 99 |
Corporate & Investment Bank [Member] | Stage 3 [Member] | |
Amortized Cost Exposures by Business Division [Line Items] | |
Gross Carrying Amount | 2,403 |
Allowance for Credit Losses | 896 |
Corporate & Investment Bank [Member] | Stage 3 POCI [Member] | |
Amortized Cost Exposures by Business Division [Line Items] | |
Gross Carrying Amount | 1,692 |
Allowance for Credit Losses | 3 |
Private & Commercial Bank [Member] | Total Stages [Member] | |
Amortized Cost Exposures by Business Division [Line Items] | |
Gross Carrying Amount | 321,547 |
Allowance for Credit Losses | 3,071 |
Private & Commercial Bank [Member] | Stage 1 [Member] | |
Amortized Cost Exposures by Business Division [Line Items] | |
Gross Carrying Amount | 299,003 |
Allowance for Credit Losses | 321 |
Private & Commercial Bank [Member] | Stage 2 [Member] | |
Amortized Cost Exposures by Business Division [Line Items] | |
Gross Carrying Amount | 17,226 |
Allowance for Credit Losses | 400 |
Private & Commercial Bank [Member] | Stage 3 [Member] | |
Amortized Cost Exposures by Business Division [Line Items] | |
Gross Carrying Amount | 5,047 |
Allowance for Credit Losses | 2,350 |
Private & Commercial Bank [Member] | Stage 3 POCI [Member] | |
Amortized Cost Exposures by Business Division [Line Items] | |
Gross Carrying Amount | 271 |
Allowance for Credit Losses | 0 |
Asset Management [Member] | Total Stages [Member] | |
Amortized Cost Exposures by Business Division [Line Items] | |
Gross Carrying Amount | 2,303 |
Allowance for Credit Losses | 1 |
Asset Management [Member] | Stage 1 [Member] | |
Amortized Cost Exposures by Business Division [Line Items] | |
Gross Carrying Amount | 1,998 |
Allowance for Credit Losses | 0 |
Asset Management [Member] | Stage 2 [Member] | |
Amortized Cost Exposures by Business Division [Line Items] | |
Gross Carrying Amount | 304 |
Allowance for Credit Losses | 0 |
Asset Management [Member] | Stage 3 [Member] | |
Amortized Cost Exposures by Business Division [Line Items] | |
Gross Carrying Amount | 2 |
Allowance for Credit Losses | 0 |
Asset Management [Member] | Stage 3 POCI [Member] | |
Amortized Cost Exposures by Business Division [Line Items] | |
Gross Carrying Amount | 0 |
Allowance for Credit Losses | 0 |
Corporate & Other [Member] | Total Stages [Member] | |
Amortized Cost Exposures by Business Division [Line Items] | |
Gross Carrying Amount | 9,508 |
Allowance for Credit Losses | 5 |
Corporate & Other [Member] | Stage 1 [Member] | |
Amortized Cost Exposures by Business Division [Line Items] | |
Gross Carrying Amount | 8,943 |
Allowance for Credit Losses | 3 |
Corporate & Other [Member] | Stage 2 [Member] | |
Amortized Cost Exposures by Business Division [Line Items] | |
Gross Carrying Amount | 564 |
Allowance for Credit Losses | 1 |
Corporate & Other [Member] | Stage 3 [Member] | |
Amortized Cost Exposures by Business Division [Line Items] | |
Gross Carrying Amount | 1 |
Allowance for Credit Losses | 1 |
Corporate & Other [Member] | Stage 3 POCI [Member] | |
Amortized Cost Exposures by Business Division [Line Items] | |
Gross Carrying Amount | 0 |
Allowance for Credit Losses | € 0 |
Financial Assets and Allowances
Financial Assets and Allowances by Industry Sector Allowance for Credit Losses (Detail) - Allowance for Credit Losses € in Millions | Dec. 31, 2018EUR (€) |
Total Stages [Member] | |
Financial Assets and Allowance at Amortized Cost by Industry Sector [Line Items] | |
Agriculture, forestry and fishing | € 24 |
Mining and quarrying | 15 |
Manufacturing | 498 |
Electricity, gas, steam and air conditioning supply | 24 |
Water supply, sewerage, waste management and remediation activities | 7 |
Construction | 254 |
Wholesale and retail trade, repair of motor vehicles and motorcycles | 440 |
Transport and storage | 214 |
Accommodation and food service activities | 23 |
Information and communication | 48 |
Financial and insurance activities | 274 |
Real estate activities | 128 |
Professional, scientific and technical activities | 98 |
Administrative and support service activities | 25 |
Public administration and defense, compulsory social security | 16 |
Education | 9 |
Human health services and social work activities | 18 |
Arts, entertainment and recreation | 7 |
Other service activities | 51 |
Activities of households as employers, undifferentiated goods- and services-producing activities of households for own use | 2,088 |
Activities of extraterritorial organizations and bodies | 0 |
Total | 4,259 |
Stage 1 [Member] | |
Financial Assets and Allowance at Amortized Cost by Industry Sector [Line Items] | |
Agriculture, forestry and fishing | 1 |
Mining and quarrying | 8 |
Manufacturing | 25 |
Electricity, gas, steam and air conditioning supply | 3 |
Water supply, sewerage, waste management and remediation activities | 0 |
Construction | 4 |
Wholesale and retail trade, repair of motor vehicles and motorcycles | 19 |
Transport and storage | 7 |
Accommodation and food service activities | 3 |
Information and communication | 8 |
Financial and insurance activities | 81 |
Real estate activities | 35 |
Professional, scientific and technical activities | 7 |
Administrative and support service activities | 8 |
Public administration and defense, compulsory social security | 4 |
Education | 1 |
Human health services and social work activities | 7 |
Arts, entertainment and recreation | 2 |
Other service activities | 9 |
Activities of households as employers, undifferentiated goods- and services-producing activities of households for own use | 276 |
Activities of extraterritorial organizations and bodies | 0 |
Total | 509 |
Stage 2 [Member] | |
Financial Assets and Allowance at Amortized Cost by Industry Sector [Line Items] | |
Agriculture, forestry and fishing | 2 |
Mining and quarrying | 1 |
Manufacturing | 24 |
Electricity, gas, steam and air conditioning supply | 16 |
Water supply, sewerage, waste management and remediation activities | 0 |
Construction | 4 |
Wholesale and retail trade, repair of motor vehicles and motorcycles | 18 |
Transport and storage | 6 |
Accommodation and food service activities | 2 |
Information and communication | 13 |
Financial and insurance activities | 33 |
Real estate activities | 17 |
Professional, scientific and technical activities | 8 |
Administrative and support service activities | 3 |
Public administration and defense, compulsory social security | 7 |
Education | 0 |
Human health services and social work activities | 5 |
Arts, entertainment and recreation | 0 |
Other service activities | 4 |
Activities of households as employers, undifferentiated goods- and services-producing activities of households for own use | 336 |
Activities of extraterritorial organizations and bodies | 0 |
Total | 501 |
Stage 3 [Member] | |
Financial Assets and Allowance at Amortized Cost by Industry Sector [Line Items] | |
Agriculture, forestry and fishing | 21 |
Mining and quarrying | 5 |
Manufacturing | 449 |
Electricity, gas, steam and air conditioning supply | 5 |
Water supply, sewerage, waste management and remediation activities | 7 |
Construction | 244 |
Wholesale and retail trade, repair of motor vehicles and motorcycles | 403 |
Transport and storage | 201 |
Accommodation and food service activities | 17 |
Information and communication | 27 |
Financial and insurance activities | 153 |
Real estate activities | 84 |
Professional, scientific and technical activities | 83 |
Administrative and support service activities | 19 |
Public administration and defense, compulsory social security | 5 |
Education | 7 |
Human health services and social work activities | 5 |
Arts, entertainment and recreation | 5 |
Other service activities | 34 |
Activities of households as employers, undifferentiated goods- and services-producing activities of households for own use | 1,473 |
Activities of extraterritorial organizations and bodies | 0 |
Total | 3,247 |
Stage 3 POCI [Member] | |
Financial Assets and Allowance at Amortized Cost by Industry Sector [Line Items] | |
Agriculture, forestry and fishing | 0 |
Mining and quarrying | 0 |
Manufacturing | 1 |
Electricity, gas, steam and air conditioning supply | 0 |
Water supply, sewerage, waste management and remediation activities | 0 |
Construction | 1 |
Wholesale and retail trade, repair of motor vehicles and motorcycles | 0 |
Transport and storage | 0 |
Accommodation and food service activities | 0 |
Information and communication | 0 |
Financial and insurance activities | 7 |
Real estate activities | (9) |
Professional, scientific and technical activities | 0 |
Administrative and support service activities | (4) |
Public administration and defense, compulsory social security | 0 |
Education | 0 |
Human health services and social work activities | 0 |
Arts, entertainment and recreation | 0 |
Other service activities | 4 |
Activities of households as employers, undifferentiated goods- and services-producing activities of households for own use | 4 |
Activities of extraterritorial organizations and bodies | 0 |
Total | € 3 |
Financial Assets and Allowanc_2
Financial Assets and Allowances by Industry Sector Gross Carrying Amount (Detail) - Gross Carrying Amount [Member] € in Millions | Dec. 31, 2018EUR (€) |
Total Stages [Member] | |
Financial Assets and Allowance at Amortized Cost by Industry Sector [Line Items] | |
Agriculture, forestry and fishing | € 631 |
Mining and quarrying | 3,390 |
Manufacturing | 28,836 |
Electricity, gas, steam and air conditioning supply | 3,839 |
Water supply, sewerage, waste management and remediation activities | 796 |
Construction | 3,823 |
Wholesale and retail trade, repair of motor vehicles and motorcycles | 20,572 |
Transport and storage | 5,728 |
Accommodation and food service activities | 2,014 |
Information and communication | 4,774 |
Financial and insurance activities | 330,400 |
Real estate activities | 36,748 |
Professional, scientific and technical activities | 9,008 |
Administrative and support service activities | 7,374 |
Public administration and defense, compulsory social security | 13,224 |
Education | 638 |
Human health services and social work activities | 3,468 |
Arts, entertainment and recreation | 856 |
Other service activities | 8,617 |
Activities of households as employers, undifferentiated goods- and services-producing activities of households for own use | 193,878 |
Activities of extraterritorial organizations and bodies | 173 |
Total | 678,787 |
Stage 1 [Member] | |
Financial Assets and Allowance at Amortized Cost by Industry Sector [Line Items] | |
Agriculture, forestry and fishing | 533 |
Mining and quarrying | 2,970 |
Manufacturing | 26,695 |
Electricity, gas, steam and air conditioning supply | 3,476 |
Water supply, sewerage, waste management and remediation activities | 777 |
Construction | 3,108 |
Wholesale and retail trade, repair of motor vehicles and motorcycles | 19,119 |
Transport and storage | 4,314 |
Accommodation and food service activities | 1,692 |
Information and communication | 4,443 |
Financial and insurance activities | 318,867 |
Real estate activities | 33,166 |
Professional, scientific and technical activities | 8,169 |
Administrative and support service activities | 7,091 |
Public administration and defense, compulsory social security | 12,054 |
Education | 612 |
Human health services and social work activities | 3,246 |
Arts, entertainment and recreation | 818 |
Other service activities | 7,788 |
Activities of households as employers, undifferentiated goods- and services-producing activities of households for own use | 177,927 |
Activities of extraterritorial organizations and bodies | 173 |
Total | 637,037 |
Stage 2 [Member] | |
Financial Assets and Allowance at Amortized Cost by Industry Sector [Line Items] | |
Agriculture, forestry and fishing | 38 |
Mining and quarrying | 273 |
Manufacturing | 1,291 |
Electricity, gas, steam and air conditioning supply | 286 |
Water supply, sewerage, waste management and remediation activities | 10 |
Construction | 289 |
Wholesale and retail trade, repair of motor vehicles and motorcycles | 859 |
Transport and storage | 875 |
Accommodation and food service activities | 166 |
Information and communication | 286 |
Financial and insurance activities | 10,526 |
Real estate activities | 2,801 |
Professional, scientific and technical activities | 498 |
Administrative and support service activities | 189 |
Public administration and defense, compulsory social security | 1,089 |
Education | 19 |
Human health services and social work activities | 209 |
Arts, entertainment and recreation | 24 |
Other service activities | 486 |
Activities of households as employers, undifferentiated goods- and services-producing activities of households for own use | 12,121 |
Activities of extraterritorial organizations and bodies | 0 |
Total | 32,335 |
Stage 3 [Member] | |
Financial Assets and Allowance at Amortized Cost by Industry Sector [Line Items] | |
Agriculture, forestry and fishing | 60 |
Mining and quarrying | 147 |
Manufacturing | 783 |
Electricity, gas, steam and air conditioning supply | 77 |
Water supply, sewerage, waste management and remediation activities | 10 |
Construction | 338 |
Wholesale and retail trade, repair of motor vehicles and motorcycles | 593 |
Transport and storage | 539 |
Accommodation and food service activities | 35 |
Information and communication | 46 |
Financial and insurance activities | 373 |
Real estate activities | 380 |
Professional, scientific and technical activities | 151 |
Administrative and support service activities | 62 |
Public administration and defense, compulsory social security | 81 |
Education | 8 |
Human health services and social work activities | 12 |
Arts, entertainment and recreation | 14 |
Other service activities | 104 |
Activities of households as employers, undifferentiated goods- and services-producing activities of households for own use | 3,639 |
Activities of extraterritorial organizations and bodies | 1 |
Total | 7,452 |
Stage 3 POCI [Member] | |
Financial Assets and Allowance at Amortized Cost by Industry Sector [Line Items] | |
Agriculture, forestry and fishing | 0 |
Mining and quarrying | 0 |
Manufacturing | 66 |
Electricity, gas, steam and air conditioning supply | 0 |
Water supply, sewerage, waste management and remediation activities | 0 |
Construction | 88 |
Wholesale and retail trade, repair of motor vehicles and motorcycles | 0 |
Transport and storage | 0 |
Accommodation and food service activities | 121 |
Information and communication | 0 |
Financial and insurance activities | 633 |
Real estate activities | 401 |
Professional, scientific and technical activities | 190 |
Administrative and support service activities | 32 |
Public administration and defense, compulsory social security | 1 |
Education | 0 |
Human health services and social work activities | 2 |
Arts, entertainment and recreation | 0 |
Other service activities | 239 |
Activities of households as employers, undifferentiated goods- and services-producing activities of households for own use | 191 |
Activities of extraterritorial organizations and bodies | 0 |
Total | € 1,963 |
Financial Assets and Allowanc_3
Financial Assets and Allowances by Region (Detail) € in Millions | Dec. 31, 2018EUR (€) |
Total countries [Domain Member] | Total [Member] | |
Financial Assets and Allowance by Region [Line Items] | |
Gross Carrying Amount | € 678,787 |
Allowance for Credit Losses | 4,259 |
Total countries [Domain Member] | Stage 1 [Member] | |
Financial Assets and Allowance by Region [Line Items] | |
Gross Carrying Amount | 637,037 |
Allowance for Credit Losses | 509 |
Total countries [Domain Member] | Stage 2 [Member] | |
Financial Assets and Allowance by Region [Line Items] | |
Gross Carrying Amount | 32,335 |
Allowance for Credit Losses | 501 |
Total countries [Domain Member] | Stage 3 [Member] | |
Financial Assets and Allowance by Region [Line Items] | |
Gross Carrying Amount | 7,452 |
Allowance for Credit Losses | 3,247 |
Total countries [Domain Member] | Stage 3 POCI [Member] | |
Financial Assets and Allowance by Region [Line Items] | |
Gross Carrying Amount | 1,963 |
Allowance for Credit Losses | 3 |
Germany [Member] | Total [Member] | |
Financial Assets and Allowance by Region [Line Items] | |
Gross Carrying Amount | 307,488 |
Allowance for Credit Losses | 1,825 |
Germany [Member] | Stage 1 [Member] | |
Financial Assets and Allowance by Region [Line Items] | |
Gross Carrying Amount | 291,850 |
Allowance for Credit Losses | 247 |
Germany [Member] | Stage 2 [Member] | |
Financial Assets and Allowance by Region [Line Items] | |
Gross Carrying Amount | 12,247 |
Allowance for Credit Losses | 275 |
Germany [Member] | Stage 3 [Member] | |
Financial Assets and Allowance by Region [Line Items] | |
Gross Carrying Amount | 3,088 |
Allowance for Credit Losses | 1,303 |
Germany [Member] | Stage 3 POCI [Member] | |
Financial Assets and Allowance by Region [Line Items] | |
Gross Carrying Amount | 303 |
Allowance for Credit Losses | 0 |
Western Europe (excluding Germany) [Member] | Total [Member] | |
Financial Assets and Allowance by Region [Line Items] | |
Gross Carrying Amount | 131,736 |
Allowance for Credit Losses | 1,907 |
Western Europe (excluding Germany) [Member] | Stage 1 [Member] | |
Financial Assets and Allowance by Region [Line Items] | |
Gross Carrying Amount | 119,622 |
Allowance for Credit Losses | 122 |
Western Europe (excluding Germany) [Member] | Stage 2 [Member] | |
Financial Assets and Allowance by Region [Line Items] | |
Gross Carrying Amount | 7,499 |
Allowance for Credit Losses | 175 |
Western Europe (excluding Germany) [Member] | Stage 3 [Member] | |
Financial Assets and Allowance by Region [Line Items] | |
Gross Carrying Amount | 3,072 |
Allowance for Credit Losses | 1,604 |
Western Europe (excluding Germany) [Member] | Stage 3 POCI [Member] | |
Financial Assets and Allowance by Region [Line Items] | |
Gross Carrying Amount | 1,543 |
Allowance for Credit Losses | 5 |
Eastern Europe [Member] | Total [Member] | |
Financial Assets and Allowance by Region [Line Items] | |
Gross Carrying Amount | 6,798 |
Allowance for Credit Losses | 47 |
Eastern Europe [Member] | Stage 1 [Member] | |
Financial Assets and Allowance by Region [Line Items] | |
Gross Carrying Amount | 6,309 |
Allowance for Credit Losses | 5 |
Eastern Europe [Member] | Stage 2 [Member] | |
Financial Assets and Allowance by Region [Line Items] | |
Gross Carrying Amount | 401 |
Allowance for Credit Losses | 4 |
Eastern Europe [Member] | Stage 3 [Member] | |
Financial Assets and Allowance by Region [Line Items] | |
Gross Carrying Amount | 88 |
Allowance for Credit Losses | 38 |
Eastern Europe [Member] | Stage 3 POCI [Member] | |
Financial Assets and Allowance by Region [Line Items] | |
Gross Carrying Amount | 0 |
Allowance for Credit Losses | 0 |
North America [Member] | Total [Member] | |
Financial Assets and Allowance by Region [Line Items] | |
Gross Carrying Amount | 155,446 |
Allowance for Credit Losses | 147 |
North America [Member] | Stage 1 [Member] | |
Financial Assets and Allowance by Region [Line Items] | |
Gross Carrying Amount | 147,300 |
Allowance for Credit Losses | 66 |
North America [Member] | Stage 2 [Member] | |
Financial Assets and Allowance by Region [Line Items] | |
Gross Carrying Amount | 7,572 |
Allowance for Credit Losses | 32 |
North America [Member] | Stage 3 [Member] | |
Financial Assets and Allowance by Region [Line Items] | |
Gross Carrying Amount | 554 |
Allowance for Credit Losses | 48 |
North America [Member] | Stage 3 POCI [Member] | |
Financial Assets and Allowance by Region [Line Items] | |
Gross Carrying Amount | 20 |
Allowance for Credit Losses | 1 |
Central and South America [Member] | Total [Member] | |
Financial Assets and Allowance by Region [Line Items] | |
Gross Carrying Amount | 5,430 |
Allowance for Credit Losses | 31 |
Central and South America [Member] | Stage 1 [Member] | |
Financial Assets and Allowance by Region [Line Items] | |
Gross Carrying Amount | 4,717 |
Allowance for Credit Losses | 7 |
Central and South America [Member] | Stage 2 [Member] | |
Financial Assets and Allowance by Region [Line Items] | |
Gross Carrying Amount | 558 |
Allowance for Credit Losses | 2 |
Central and South America [Member] | Stage 3 [Member] | |
Financial Assets and Allowance by Region [Line Items] | |
Gross Carrying Amount | 155 |
Allowance for Credit Losses | 22 |
Central and South America [Member] | Stage 3 POCI [Member] | |
Financial Assets and Allowance by Region [Line Items] | |
Gross Carrying Amount | 0 |
Allowance for Credit Losses | 0 |
Asia/Pacific [Member] | Total [Member] | |
Financial Assets and Allowance by Region [Line Items] | |
Gross Carrying Amount | 59,315 |
Allowance for Credit Losses | 237 |
Asia/Pacific [Member] | Stage 1 [Member] | |
Financial Assets and Allowance by Region [Line Items] | |
Gross Carrying Amount | 55,490 |
Allowance for Credit Losses | 32 |
Asia/Pacific [Member] | Stage 2 [Member] | |
Financial Assets and Allowance by Region [Line Items] | |
Gross Carrying Amount | 3,353 |
Allowance for Credit Losses | 9 |
Asia/Pacific [Member] | Stage 3 [Member] | |
Financial Assets and Allowance by Region [Line Items] | |
Gross Carrying Amount | 374 |
Allowance for Credit Losses | 200 |
Asia/Pacific [Member] | Stage 3 POCI [Member] | |
Financial Assets and Allowance by Region [Line Items] | |
Gross Carrying Amount | 98 |
Allowance for Credit Losses | (4) |
Africa [Member] | Total [Member] | |
Financial Assets and Allowance by Region [Line Items] | |
Gross Carrying Amount | 2,544 |
Allowance for Credit Losses | 42 |
Africa [Member] | Stage 1 [Member] | |
Financial Assets and Allowance by Region [Line Items] | |
Gross Carrying Amount | 1,996 |
Allowance for Credit Losses | 7 |
Africa [Member] | Stage 2 [Member] | |
Financial Assets and Allowance by Region [Line Items] | |
Gross Carrying Amount | 470 |
Allowance for Credit Losses | 4 |
Africa [Member] | Stage 3 [Member] | |
Financial Assets and Allowance by Region [Line Items] | |
Gross Carrying Amount | 78 |
Allowance for Credit Losses | 31 |
Africa [Member] | Stage 3 POCI [Member] | |
Financial Assets and Allowance by Region [Line Items] | |
Gross Carrying Amount | 0 |
Allowance for Credit Losses | 0 |
Other countries [Member] | Total [Member] | |
Financial Assets and Allowance by Region [Line Items] | |
Gross Carrying Amount | 10,031 |
Allowance for Credit Losses | 24 |
Other countries [Member] | Stage 1 [Member] | |
Financial Assets and Allowance by Region [Line Items] | |
Gross Carrying Amount | 9,753 |
Allowance for Credit Losses | 22 |
Other countries [Member] | Stage 2 [Member] | |
Financial Assets and Allowance by Region [Line Items] | |
Gross Carrying Amount | 234 |
Allowance for Credit Losses | 0 |
Other countries [Member] | Stage 3 [Member] | |
Financial Assets and Allowance by Region [Line Items] | |
Gross Carrying Amount | 43 |
Allowance for Credit Losses | 1 |
Other countries [Member] | Stage 3 POCI [Member] | |
Financial Assets and Allowance by Region [Line Items] | |
Gross Carrying Amount | 0 |
Allowance for Credit Losses | € 0 |
Collateral Obtained (Detail_ Te
Collateral Obtained (Detail: Text Values) € in Millions | Dec. 31, 2018EUR (€) |
Collateral Obtained [Abstract] | |
Carrying amount of foreclosed residential real estate properties | € 62 |
Collateral held against credit-
Collateral held against credit-impaired financial assets (Detail) - Collateral held against credit-impaired financial assets at Amortized Cost [Member] - Financial Assets at Amortized Cost (Stage 3) [Member] € in Millions | Dec. 31, 2018EUR (€) |
Collateral held against credit-impaired financial assets at Amortized Cost [Line Items] | |
Gross Carrying Amount | € 7,452 |
Collateral | 2,714 |
Guarantees | € 221 |
Risk Report - Collateral obtain
Risk Report - Collateral obtained during the reporting periods (Detail) - EUR (€) € in Millions | Dec. 31, 2018 | Dec. 31, 2017 | ||
Collateral Obtained [Abstract] | ||||
Commercial real estate | € 7 | € 9 | ||
Residential real estate | 57 | [1] | 63 | [2] |
Other | 0 | 0 | ||
Total collateral obtained during the reporting period | € 64 | € 72 | ||
[1] | Carrying amount of foreclosed residential real estate properties amounted to EUR62million as of December 31, 2018 and EUR67million as of December 31, 2017. | |||
[2] | Carrying amount of foreclosed residential real estate properties amounted to EUR 67 million as of December 31, 2017. |
Risk Report - Trading Market Ri
Risk Report - Trading Market Risk Exposures - Value-at Risk of Trading Units by Risk Type (Detail) - EUR (€) € in Millions | Dec. 31, 2018 | Dec. 31, 2017 |
Total [Member] | ||
Value-at Risk of Trading Units by Risk Type [line items] | ||
Period-end, Value-at Risk of Trading Units by Risk Type | € 32.1 | € 29.1 |
Diversification effect [Member] | ||
Value-at Risk of Trading Units by Risk Type [line items] | ||
Period-end, Value-at Risk of Trading Units by Risk Type | (26.9) | (22.5) |
Interest Rate Risk [Member] | ||
Value-at Risk of Trading Units by Risk Type [line items] | ||
Period-end, Value-at Risk of Trading Units by Risk Type | 14.1 | 21.4 |
Credit Spread Risk [Member] | ||
Value-at Risk of Trading Units by Risk Type [line items] | ||
Period-end, Value-at Risk of Trading Units by Risk Type | 22.3 | 14.4 |
Equity Price Risk [Member] | ||
Value-at Risk of Trading Units by Risk Type [line items] | ||
Period-end, Value-at Risk of Trading Units by Risk Type | 13 | 10.1 |
Foreign Exchange Risk [Member] | ||
Value-at Risk of Trading Units by Risk Type [line items] | ||
Period-end, Value-at Risk of Trading Units by Risk Type | 9.2 | 4.9 |
Commodity Price Risk [Member] | ||
Value-at Risk of Trading Units by Risk Type [line items] | ||
Period-end, Value-at Risk of Trading Units by Risk Type | € 0.3 | € 0.7 |
Risk Report - Trading Market _2
Risk Report - Trading Market Risk Exposures - Average, Maximum and Minimum Stressed Value-at-Risk by Risk Type (Detail) - EUR (€) € in Thousands | Dec. 31, 2018 | Dec. 31, 2017 | |
Total [Member] | |||
Stressed Value-at-Risk (average, maximum, minumum) [line items] | |||
Period-end, Stressed Value-at-Risk (average, maximum, minumum) | € 96,200 | € 85,600 | |
Diversification effect [Member] | |||
Stressed Value-at-Risk (average, maximum, minumum) [line items] | |||
Period-end, Stressed Value-at-Risk (average, maximum, minumum) | (75,300) | (81,000) | |
Interest Rate Risk [Member] | |||
Stressed Value-at-Risk (average, maximum, minumum) [line items] | |||
Period-end, Stressed Value-at-Risk (average, maximum, minumum) | 57,600 | 67,800 | |
Credit Spread Risk [Member] | |||
Stressed Value-at-Risk (average, maximum, minumum) [line items] | |||
Period-end, Stressed Value-at-Risk (average, maximum, minumum) | 70,100 | 64,300 | |
Equity Price Risk [Member] | |||
Stressed Value-at-Risk (average, maximum, minumum) [line items] | |||
Period-end, Stressed Value-at-Risk (average, maximum, minumum) | 21,300 | 19,900 | |
Foreign Exchange Risk [Member] | |||
Stressed Value-at-Risk (average, maximum, minumum) [line items] | |||
Period-end, Stressed Value-at-Risk (average, maximum, minumum) | [1] | 21,700 | 12,600 |
Commodity Price Risk [Member] | |||
Stressed Value-at-Risk (average, maximum, minumum) [line items] | |||
Period-end, Stressed Value-at-Risk (average, maximum, minumum) | € 700 | € 1,900 | |
[1] | Includes value-at-risk from gold and other precious metal positions. |
Risk Report - Trading Market _3
Risk Report - Trading Market Risk Exposures - Average, Maximum and Minimum Incremental Risk Charge of Trading Units (with a 99.9 % confidence level and one-year capital horizon) (Detail) - EUR (€) € in Thousands | Dec. 31, 2018 | Dec. 31, 2017 |
Total [Member] | ||
Incremental Risk Charge (average, maximum, minimum) [line items] | ||
Period-end | € 805,400 | € 789,600 |
Global Credit Trading [Member] | ||
Incremental Risk Charge (average, maximum, minimum) [line items] | ||
Period-end | 383,600 | 540,100 |
Core Rates [Member] | ||
Incremental Risk Charge (average, maximum, minimum) [line items] | ||
Period-end | 388,600 | 133,200 |
Fixed Income & Currencies APAC [Member] | ||
Incremental Risk Charge (average, maximum, minimum) [line items] | ||
Period-end | 188,000 | 142,300 |
Emerging Markets, Debt [Member] | ||
Incremental Risk Charge (average, maximum, minimum) [line items] | ||
Period-end | 5,800 | 19,900 |
Other [Member] | ||
Incremental Risk Charge (average, maximum, minimum) [line items] | ||
Period-end | € (160,500) | € (45,900) |
Risk Report - Trading Market _4
Risk Report - Trading Market Risk Exposures - Average, Maximum and Minimum Comprehensive Risk Measure of Trading Units (with a 99.9 % confidence level and one-year capital horizon) (Detail) - EUR (€) € in Thousands | Dec. 31, 2018 | Dec. 31, 2017 |
Comprehensive Risk Measure (average, maximum, minimum) | ||
Period-end | € 0 | € 4,400 |
Risk Report - Liquidity Risk Ex
Risk Report - Liquidity Risk Exposure - Global All Currency Stress Testing Results (Detail) - EUR (€) € in Billions | Dec. 31, 2018 | Dec. 31, 2017 |
Funding Gap [Member] | ||
Global All Currency Stress Testing Results [line items] | ||
Combined | € 231 | € 318 |
Gap Closure [Member] | ||
Global All Currency Stress Testing Results [line items] | ||
Combined | 279 | 351 |
Net Liquidity Position [Member] | ||
Global All Currency Stress Testing Results [line items] | ||
Combined | € 48 | € 33 |
Development of exposures in the
Development of exposures in the reporting period, Gross Carrying Amount (Detail) - Gross Carrying Amount [Member] € in Millions | 12 Months Ended |
Dec. 31, 2018EUR (€) | |
Total Stages [Member] | |
Development of exposures and allowance for credit losses in the reporting period [Line Items] | |
Balance, beginning of year | € 703,756 |
Movements in financial assets including new business | 35,914 |
Transfers due to changes in creditworthiness | 0 |
Changes due to modifications that did not result in derecognition | (227) |
Changes in models | |
Financial assets that have been derecognized during the period | (69,863) |
Recovery of written off amounts | 146 |
Foreign exchange and other changes | 9,060 |
Balance, end of the reporting period | 678,787 |
Stage 1 [Member] | |
Development of exposures and allowance for credit losses in the reporting period [Line Items] | |
Balance, beginning of year | 663,707 |
Movements in financial assets including new business | 29,175 |
Transfers due to changes in creditworthiness | 1,240 |
Changes due to modifications that did not result in derecognition | (11) |
Changes in models | |
Financial assets that have been derecognized during the period | (65,682) |
Recovery of written off amounts | 0 |
Foreign exchange and other changes | 8,608 |
Balance, end of the reporting period | 637,037 |
Stage 2 [Member] | |
Development of exposures and allowance for credit losses in the reporting period [Line Items] | |
Balance, beginning of year | 30,305 |
Movements in financial assets including new business | 5,743 |
Transfers due to changes in creditworthiness | (2,344) |
Changes due to modifications that did not result in derecognition | (8) |
Changes in models | |
Financial assets that have been derecognized during the period | (1,766) |
Recovery of written off amounts | 0 |
Foreign exchange and other changes | 405 |
Balance, end of the reporting period | 32,335 |
Stage 3 [Member] | |
Development of exposures and allowance for credit losses in the reporting period [Line Items] | |
Balance, beginning of year | 7,726 |
Movements in financial assets including new business | 1,058 |
Transfers due to changes in creditworthiness | 1,104 |
Changes due to modifications that did not result in derecognition | (208) |
Changes in models | |
Financial assets that have been derecognized during the period | (2,411) |
Recovery of written off amounts | 146 |
Foreign exchange and other changes | 37 |
Balance, end of the reporting period | 7,452 |
Stage 3 POCI [Member] | |
Development of exposures and allowance for credit losses in the reporting period [Line Items] | |
Balance, beginning of year | 2,019 |
Movements in financial assets including new business | (61) |
Transfers due to changes in creditworthiness | |
Changes due to modifications that did not result in derecognition | 0 |
Changes in models | |
Financial assets that have been derecognized during the period | (4) |
Recovery of written off amounts | 0 |
Foreign exchange and other changes | 10 |
Balance, end of the reporting period | € 1,963 |
Modified Assets Amortized Cost
Modified Assets Amortized Cost (Detail) - Modified Assets Amortized Cost [Member] € in Millions | 12 Months Ended |
Dec. 31, 2018EUR (€) | |
Total Stages [Member] | |
Modified Assets Amortized Cost [Line Items] | |
Amortized cost carrying amount prior to modification | € 241 |
Net modification gain/losses recognized | (227) |
Stage 1 [Member] | |
Modified Assets Amortized Cost [Line Items] | |
Amortized cost carrying amount prior to modification | 11 |
Net modification gain/losses recognized | (11) |
Stage 2 [Member] | |
Modified Assets Amortized Cost [Line Items] | |
Amortized cost carrying amount prior to modification | 8 |
Net modification gain/losses recognized | (8) |
Stage 3 [Member] | |
Modified Assets Amortized Cost [Line Items] | |
Amortized cost carrying amount prior to modification | 222 |
Net modification gain/losses recognized | (208) |
Stage 3 POCI [Member] | |
Modified Assets Amortized Cost [Line Items] | |
Amortized cost carrying amount prior to modification | 0 |
Net modification gain/losses recognized | € 0 |
Off-balance sheet lending com_2
Off-balance sheet lending commitments and guarantee business, Nomainal Amount (Detail) - Nominal amount [Member] € in Millions | 12 Months Ended | |
Dec. 31, 2018EUR (€) | ||
Total Stages [Member] | ||
Off-balance sheet lending commitments and guarantee business [Line Items] | ||
Balance, beginning of year | € 252,129 | [1] |
Movements in financial assets including new business | 9,496 | |
Transfers due to changes in creditworthiness | 0 | |
Changes in models | ||
Financial assets that have been derecognized during the period | 0 | |
Foreign exchange and other changes | 1,035 | |
Balance, end of reporting period | 262,659 | |
Stage 1 [Member] | ||
Off-balance sheet lending commitments and guarantee business [Line Items] | ||
Balance, beginning of year | 243,566 | [1] |
Movements in financial assets including new business | 6,765 | |
Transfers due to changes in creditworthiness | 752 | |
Changes in models | ||
Financial assets that have been derecognized during the period | 0 | |
Foreign exchange and other changes | 957 | |
Balance, end of reporting period | 252,039 | |
Stage 2 [Member] | ||
Off-balance sheet lending commitments and guarantee business [Line Items] | ||
Balance, beginning of year | 7,114 | [1] |
Movements in financial assets including new business | 3,923 | |
Transfers due to changes in creditworthiness | (1,089) | |
Changes in models | ||
Financial assets that have been derecognized during the period | 0 | |
Foreign exchange and other changes | 73 | |
Balance, end of reporting period | 10,021 | |
Stage 3 [Member] | ||
Off-balance sheet lending commitments and guarantee business [Line Items] | ||
Balance, beginning of year | 1,448 | [1] |
Movements in financial assets including new business | (1,191) | |
Transfers due to changes in creditworthiness | 338 | |
Changes in models | ||
Financial assets that have been derecognized during the period | 0 | |
Foreign exchange and other changes | 4 | |
Balance, end of reporting period | 599 | |
Stage 3 POCI [Member] | ||
Off-balance sheet lending commitments and guarantee business [Line Items] | ||
Balance, beginning of year | 0 | [1] |
Movements in financial assets including new business | 0 | |
Transfers due to changes in creditworthiness | ||
Changes in models | ||
Financial assets that have been derecognized during the period | 0 | |
Foreign exchange and other changes | 0 | |
Balance, end of reporting period | € 0 | |
[1] | Revocable commitments were included in impairment relevant exposures in Q4 2018. As a consequence, Balance, beginning of year was restated compared to our interim reports 2018. |
Credit Risk Profile by Industry
Credit Risk Profile by Industry Sector IAS 39 (Detail) - IAS 39 [Member] € in Millions | Dec. 31, 2017EUR (€) | |
Total | ||
Credit Risk Profile by Industry Sector [Line Items] | ||
Financial intermediation | € 245,536 | |
Fund management activities | 27,426 | |
Manufacturing | 85,172 | |
Wholesale and retail trade | 36,905 | |
Households, excluding mortgages | 197,805 | |
Commercial real estate activities | 38,806 | |
Public sector | 108,597 | |
Other | 154,459 | [1] |
Total | 894,707 | |
Loans [Member] | ||
Credit Risk Profile by Industry Sector [Line Items] | ||
Financial intermediation | 52,087 | [2] |
Fund management activities | 18,668 | [2] |
Manufacturing | 27,569 | [2] |
Wholesale and retail trade | 19,246 | [2] |
Households, excluding mortgages | 186,687 | [2] |
Commercial real estate activities | 29,180 | [2] |
Public sector | 13,510 | [2] |
Other | 58,674 | [1],[2] |
Total | 405,621 | [2] |
Irrevocable lending commitments [Member] | ||
Credit Risk Profile by Industry Sector [Line Items] | ||
Financial intermediation | 31,839 | [3] |
Fund management activities | 6,213 | [3] |
Manufacturing | 38,450 | [3] |
Wholesale and retail trade | 10,684 | [3] |
Households, excluding mortgages | 9,975 | [3] |
Commercial real estate activities | 4,343 | [3] |
Public sector | 844 | [3] |
Other | 55,904 | [1],[3] |
Total | 158,253 | [3] |
Contingent liabilities [Member] | ||
Credit Risk Profile by Industry Sector [Line Items] | ||
Financial intermediation | 9,407 | |
Fund management activities | 173 | |
Manufacturing | 14,893 | |
Wholesale and retail trade | 5,623 | |
Households, excluding mortgages | 671 | |
Commercial real estate activities | 508 | |
Public sector | 138 | |
Other | 16,799 | [1] |
Total | 48,212 | |
OTC derivatives [Member] | ||
Credit Risk Profile by Industry Sector [Line Items] | ||
Financial intermediation | 17,991 | [4] |
Fund management activities | 1,232 | [4] |
Manufacturing | 1,347 | [4] |
Wholesale and retail trade | 413 | [4] |
Households, excluding mortgages | 398 | [4] |
Commercial real estate activities | 1,185 | [4] |
Public sector | 3,510 | [4] |
Other | 5,353 | [1],[4] |
Total | 31,430 | [4] |
Traded Loans [Member] | ||
Credit Risk Profile by Industry Sector [Line Items] | ||
Financial intermediation | 1,635 | |
Fund management activities | 306 | |
Manufacturing | 628 | |
Wholesale and retail trade | 388 | |
Households, excluding mortgages | 74 | |
Commercial real estate activities | 2,080 | |
Public sector | 611 | |
Other | 5,154 | [1] |
Total | 10,876 | |
Traded Bonds [Member] | ||
Credit Risk Profile by Industry Sector [Line Items] | ||
Financial intermediation | 16,982 | |
Fund management activities | 737 | |
Manufacturing | 1,991 | |
Wholesale and retail trade | 501 | |
Households, excluding mortgages | 0 | |
Commercial real estate activities | 1,468 | |
Public sector | 54,989 | |
Other | 10,596 | [1] |
Total | 87,264 | |
Debt securities [Member] | ||
Credit Risk Profile by Industry Sector [Line Items] | ||
Financial intermediation | 15,590 | [5] |
Fund management activities | 53 | [5] |
Manufacturing | 294 | [5] |
Wholesale and retail trade | 50 | [5] |
Households, excluding mortgages | 0 | [5] |
Commercial real estate activities | 1 | [5] |
Public sector | 30,301 | [5] |
Other | 1,963 | [1],[5] |
Total | 48,251 | [5] |
Repo and repo-style transactions [Member] | ||
Credit Risk Profile by Industry Sector [Line Items] | ||
Financial intermediation | 100,006 | [6] |
Fund management activities | 44 | [6] |
Manufacturing | 0 | [6] |
Wholesale and retail trade | 0 | [6] |
Households, excluding mortgages | 0 | [6] |
Commercial real estate activities | 41 | [6] |
Public sector | 4,694 | [6] |
Other | 16 | [1],[6] |
Total | € 104,800 | [6] |
[1] | Major industries within Other were: Real estate other than commercial (EUR 63.4 billion), Transport; storage and communication (EUR 28.2 billion), Other community and personal social services (EUR 14.1 billion), Electricity; gas and water supply (EUR 12.8 billion), Construction (EUR 11.7 billion) and Mining and quarrying (EUR 10.0 billion). | |
[2] | Includes impaired loans amounting to EUR6.2billion as of December31, 2017 | |
[3] | Includes irrevocable lending commitments related to consumer credit exposure of EUR10.1 billion as of December31, 2017. | |
[4] | Includes the effect of netting agreements and cash collateral received where applicable. Excludes derivatives qualifying for hedge accounting. | |
[5] | Includes debt securities on financial assets available for sale and securities held to maturity. | |
[6] | Before reflection of collateral and limited to securities purchased under resale agreements and securities borrowed. |
Credit Risk Profile by Indust_2
Credit Risk Profile by Industry Sector IFRS 9 (Detail) - IFRS 9 [Member] € in Millions | Dec. 31, 2018EUR (€) | |
Total | Credit Risk Profile [Domain Member] | ||
Credit Risk Profile by Industry Sector [Line Items] | ||
Agriculture, forestry and fishing | € 1,251 | |
Mining and quarrying | 12,113 | |
Manufacturing | 91,389 | |
Electricity, gas, steam and air conditioning supply | 11,527 | |
Water supply, sewerage, waste management and remediation activities | 1,670 | |
Construction | 11,165 | |
Wholesale and retail trade, repair of motor vehicles and motorcycles | 41,938 | |
Transport and storage | 14,308 | |
Accommodation and food service activities | 4,254 | |
Information and communication | 26,810 | |
Financial and insurance activities | 312,035 | |
Real estate activities | 43,903 | |
Professional, scientific and technical activities | 13,275 | |
Administrative and support service activities | 14,599 | |
Public administration and defense, compulsory social security | 108,165 | |
Education | 1,275 | |
Human health services and social work activities | 6,381 | |
Arts, entertainment and recreation | 2,273 | |
Other service activities | 11,371 | |
Activities of households as employers, undifferentiated goods- and services-producing activities of households for own use | 218,735 | |
Activities of extraterritorial organizations and bodies | 790 | |
Total | 949,227 | |
Loans [Member] | at amortized cost [Member] | ||
Credit Risk Profile by Industry Sector [Line Items] | ||
Agriculture, forestry and fishing | 640 | [1] |
Mining and quarrying | 2,995 | [1] |
Manufacturing | 28,342 | [1] |
Electricity, gas, steam and air conditioning supply | 3,210 | [1] |
Water supply, sewerage, waste management and remediation activities | 867 | [1] |
Construction | 3,902 | [1] |
Wholesale and retail trade, repair of motor vehicles and motorcycles | 20,293 | [1] |
Transport and storage | 5,774 | [1] |
Accommodation and food service activities | 2,026 | [1] |
Information and communication | 4,372 | [1] |
Financial and insurance activities | 77,628 | [1] |
Real estate activities | 33,432 | [1] |
Professional, scientific and technical activities | 6,590 | [1] |
Administrative and support service activities | 7,381 | [1] |
Public administration and defense, compulsory social security | 8,917 | [1] |
Education | 698 | [1] |
Human health services and social work activities | 3,483 | [1] |
Arts, entertainment and recreation | 859 | [1] |
Other service activities | 4,720 | [1] |
Activities of households as employers, undifferentiated goods- and services-producing activities of households for own use | 188,407 | [1] |
Activities of extraterritorial organizations and bodies | 1 | [1] |
Total | 404,537 | [1] |
Loans [Member] | at fair value through P/L [Member] | ||
Credit Risk Profile by Industry Sector [Line Items] | ||
Agriculture, forestry and fishing | 15 | |
Mining and quarrying | 563 | |
Manufacturing | 786 | |
Electricity, gas, steam and air conditioning supply | 284 | |
Water supply, sewerage, waste management and remediation activities | 28 | |
Construction | 495 | |
Wholesale and retail trade, repair of motor vehicles and motorcycles | 488 | |
Transport and storage | 647 | |
Accommodation and food service activities | 40 | |
Information and communication | 505 | |
Financial and insurance activities | 3,530 | |
Real estate activities | 1,538 | |
Professional, scientific and technical activities | 239 | |
Administrative and support service activities | 338 | |
Public administration and defense, compulsory social security | 1,160 | |
Education | 1 | |
Human health services and social work activities | 104 | |
Arts, entertainment and recreation | 71 | |
Other service activities | 520 | |
Activities of households as employers, undifferentiated goods- and services-producing activities of households for own use | 85 | |
Activities of extraterritorial organizations and bodies | 25 | |
Total | 11,462 | |
Loans [Member] | Designated / mandatory at fair value through P/L [Member] | ||
Credit Risk Profile by Industry Sector [Line Items] | ||
Agriculture, forestry and fishing | 0 | |
Mining and quarrying | 0 | |
Manufacturing | 7 | |
Electricity, gas, steam and air conditioning supply | 57 | |
Water supply, sewerage, waste management and remediation activities | 0 | |
Construction | 0 | |
Wholesale and retail trade, repair of motor vehicles and motorcycles | 215 | |
Transport and storage | 48 | |
Accommodation and food service activities | 0 | |
Information and communication | 29 | |
Financial and insurance activities | 11,845 | |
Real estate activities | 88 | |
Professional, scientific and technical activities | 0 | |
Administrative and support service activities | 169 | |
Public administration and defense, compulsory social security | 203 | |
Education | 0 | |
Human health services and social work activities | 0 | |
Arts, entertainment and recreation | 0 | |
Other service activities | 77 | |
Activities of households as employers, undifferentiated goods- and services-producing activities of households for own use | 2 | |
Activities of extraterritorial organizations and bodies | 0 | |
Total | 12,741 | |
Loans [Member] | at fair value through OCI [Member] | ||
Credit Risk Profile by Industry Sector [Line Items] | ||
Agriculture, forestry and fishing | 0 | [2] |
Mining and quarrying | 141 | [2] |
Manufacturing | 1,831 | [2] |
Electricity, gas, steam and air conditioning supply | 3 | [2] |
Water supply, sewerage, waste management and remediation activities | 0 | [2] |
Construction | 25 | [2] |
Wholesale and retail trade, repair of motor vehicles and motorcycles | 875 | [2] |
Transport and storage | 79 | [2] |
Accommodation and food service activities | 28 | [2] |
Information and communication | 374 | [2] |
Financial and insurance activities | 882 | [2] |
Real estate activities | 95 | [2] |
Professional, scientific and technical activities | 190 | [2] |
Administrative and support service activities | 34 | [2] |
Public administration and defense, compulsory social security | 472 | [2] |
Education | 0 | [2] |
Human health services and social work activities | 31 | [2] |
Arts, entertainment and recreation | 21 | [2] |
Other service activities | 10 | [2] |
Activities of households as employers, undifferentiated goods- and services-producing activities of households for own use | 0 | [2] |
Activities of extraterritorial organizations and bodies | 0 | [2] |
Total | 5,092 | [2] |
Off-balance sheet [Member] | Revocable and irrevocable lending commitments [Member] | ||
Credit Risk Profile by Industry Sector [Line Items] | ||
Agriculture, forestry and fishing | 541 | [3] |
Mining and quarrying | 6,094 | [3] |
Manufacturing | 45,296 | [3] |
Electricity, gas, steam and air conditioning supply | 4,908 | [3] |
Water supply, sewerage, waste management and remediation activities | 399 | [3] |
Construction | 3,638 | [3] |
Wholesale and retail trade, repair of motor vehicles and motorcycles | 14,380 | [3] |
Transport and storage | 5,059 | [3] |
Accommodation and food service activities | 1,761 | [3] |
Information and communication | 17,277 | [3] |
Financial and insurance activities | 62,739 | [3] |
Real estate activities | 5,375 | [3] |
Professional, scientific and technical activities | 4,172 | [3] |
Administrative and support service activities | 4,835 | [3] |
Public administration and defense, compulsory social security | 978 | [3] |
Education | 76 | [3] |
Human health services and social work activities | 1,862 | [3] |
Arts, entertainment and recreation | 873 | [3] |
Other service activities | 2,406 | [3] |
Activities of households as employers, undifferentiated goods- and services-producing activities of households for own use | 29,372 | [3] |
Activities of extraterritorial organizations and bodies | 7 | [3] |
Total | 212,049 | [3] |
Off-balance sheet [Member] | Contingent liabilities [Member] | ||
Credit Risk Profile by Industry Sector [Line Items] | ||
Agriculture, forestry and fishing | 40 | |
Mining and quarrying | 1,505 | |
Manufacturing | 11,985 | |
Electricity, gas, steam and air conditioning supply | 1,563 | |
Water supply, sewerage, waste management and remediation activities | 155 | |
Construction | 2,089 | |
Wholesale and retail trade, repair of motor vehicles and motorcycles | 5,058 | |
Transport and storage | 920 | |
Accommodation and food service activities | 195 | |
Information and communication | 2,061 | |
Financial and insurance activities | 22,191 | |
Real estate activities | 221 | |
Professional, scientific and technical activities | 1,708 | |
Administrative and support service activities | 451 | |
Public administration and defense, compulsory social security | 48 | |
Education | 18 | |
Human health services and social work activities | 124 | |
Arts, entertainment and recreation | 38 | |
Other service activities | 708 | |
Activities of households as employers, undifferentiated goods- and services-producing activities of households for own use | 522 | |
Activities of extraterritorial organizations and bodies | 6 | |
Total | 51,605 | |
OTC derivatives [Member] | at fair value through P/L [Member] | ||
Credit Risk Profile by Industry Sector [Line Items] | ||
Agriculture, forestry and fishing | 5 | [4] |
Mining and quarrying | 210 | [4] |
Manufacturing | 1,378 | [4] |
Electricity, gas, steam and air conditioning supply | 452 | [4] |
Water supply, sewerage, waste management and remediation activities | 181 | [4] |
Construction | 338 | [4] |
Wholesale and retail trade, repair of motor vehicles and motorcycles | 317 | [4] |
Transport and storage | 1,017 | [4] |
Accommodation and food service activities | 158 | [4] |
Information and communication | 793 | [4] |
Financial and insurance activities | 17,415 | [4] |
Real estate activities | 1,084 | [4] |
Professional, scientific and technical activities | 47 | [4] |
Administrative and support service activities | 628 | [4] |
Public administration and defense, compulsory social security | 2,088 | [4] |
Education | 362 | [4] |
Human health services and social work activities | 239 | [4] |
Arts, entertainment and recreation | 13 | [4] |
Other service activities | 157 | [4] |
Activities of households as employers, undifferentiated goods- and services-producing activities of households for own use | 347 | [4] |
Activities of extraterritorial organizations and bodies | 188 | [4] |
Total | 27,417 | [4] |
Debt securities [Member] | at amortized cost [Member] | ||
Credit Risk Profile by Industry Sector [Line Items] | ||
Agriculture, forestry and fishing | 0 | [5] |
Mining and quarrying | 119 | [5] |
Manufacturing | 472 | [5] |
Electricity, gas, steam and air conditioning supply | 374 | [5] |
Water supply, sewerage, waste management and remediation activities | 5 | [5] |
Construction | 35 | [5] |
Wholesale and retail trade, repair of motor vehicles and motorcycles | 87 | [5] |
Transport and storage | 100 | [5] |
Accommodation and food service activities | 21 | [5] |
Information and communication | 168 | [5] |
Financial and insurance activities | 2,771 | [5] |
Real estate activities | 84 | [5] |
Professional, scientific and technical activities | 23 | [5] |
Administrative and support service activities | 38 | [5] |
Public administration and defense, compulsory social security | 797 | [5] |
Education | 0 | [5] |
Human health services and social work activities | 0 | [5] |
Arts, entertainment and recreation | 0 | [5] |
Other service activities | 43 | [5] |
Activities of households as employers, undifferentiated goods- and services-producing activities of households for own use | 0 | [5] |
Activities of extraterritorial organizations and bodies | 62 | [5] |
Total | 5,199 | [5] |
Debt securities [Member] | at fair value through P/L [Member] | ||
Credit Risk Profile by Industry Sector [Line Items] | ||
Agriculture, forestry and fishing | 9 | |
Mining and quarrying | 481 | |
Manufacturing | 1,245 | |
Electricity, gas, steam and air conditioning supply | 631 | |
Water supply, sewerage, waste management and remediation activities | 36 | |
Construction | 585 | |
Wholesale and retail trade, repair of motor vehicles and motorcycles | 224 | |
Transport and storage | 608 | |
Accommodation and food service activities | 25 | |
Information and communication | 724 | |
Financial and insurance activities | 18,102 | |
Real estate activities | 1,928 | |
Professional, scientific and technical activities | 306 | |
Administrative and support service activities | 160 | |
Public administration and defense, compulsory social security | 63,468 | |
Education | 121 | |
Human health services and social work activities | 474 | |
Arts, entertainment and recreation | 398 | |
Other service activities | 2,691 | |
Activities of households as employers, undifferentiated goods- and services-producing activities of households for own use | 0 | |
Activities of extraterritorial organizations and bodies | 448 | |
Total | 92,664 | |
Debt securities [Member] | at fair value through OCI [Member] | ||
Credit Risk Profile by Industry Sector [Line Items] | ||
Agriculture, forestry and fishing | 0 | [6] |
Mining and quarrying | 5 | [6] |
Manufacturing | 47 | [6] |
Electricity, gas, steam and air conditioning supply | 45 | [6] |
Water supply, sewerage, waste management and remediation activities | 0 | [6] |
Construction | 59 | [6] |
Wholesale and retail trade, repair of motor vehicles and motorcycles | 1 | [6] |
Transport and storage | 55 | [6] |
Accommodation and food service activities | 0 | [6] |
Information and communication | 505 | [6] |
Financial and insurance activities | 16,219 | [6] |
Real estate activities | 23 | [6] |
Professional, scientific and technical activities | 0 | [6] |
Administrative and support service activities | 0 | [6] |
Public administration and defense, compulsory social security | 27,892 | [6] |
Education | 0 | [6] |
Human health services and social work activities | 63 | [6] |
Arts, entertainment and recreation | 0 | [6] |
Other service activities | 26 | [6] |
Activities of households as employers, undifferentiated goods- and services-producing activities of households for own use | 0 | [6] |
Activities of extraterritorial organizations and bodies | 54 | [6] |
Total | 44,993 | [6] |
Repo and repo-style transactions [Member] | at amortized cost [Member] | ||
Credit Risk Profile by Industry Sector [Line Items] | ||
Agriculture, forestry and fishing | 0 | [7],[8] |
Mining and quarrying | 0 | [7],[8] |
Manufacturing | 0 | [7],[8] |
Electricity, gas, steam and air conditioning supply | 0 | [7],[8] |
Water supply, sewerage, waste management and remediation activities | 0 | [7],[8] |
Construction | 0 | [7],[8] |
Wholesale and retail trade, repair of motor vehicles and motorcycles | 0 | [7],[8] |
Transport and storage | 0 | [7],[8] |
Accommodation and food service activities | 0 | [7],[8] |
Information and communication | 0 | [7],[8] |
Financial and insurance activities | 10,668 | [7],[8] |
Real estate activities | 6 | [7],[8] |
Professional, scientific and technical activities | 0 | [7],[8] |
Administrative and support service activities | 434 | [7],[8] |
Public administration and defense, compulsory social security | 510 | [7],[8] |
Education | 0 | [7],[8] |
Human health services and social work activities | 0 | [7],[8] |
Arts, entertainment and recreation | 0 | [7],[8] |
Other service activities | 0 | [7],[8] |
Activities of households as employers, undifferentiated goods- and services-producing activities of households for own use | 0 | [7],[8] |
Activities of extraterritorial organizations and bodies | 0 | [7],[8] |
Total | 11,618 | [7],[8] |
Repo and repo-style transactions [Member] | at fair value through P/L [Member] | ||
Credit Risk Profile by Industry Sector [Line Items] | ||
Agriculture, forestry and fishing | 0 | [7] |
Mining and quarrying | 0 | [7] |
Manufacturing | 0 | [7] |
Electricity, gas, steam and air conditioning supply | 0 | [7] |
Water supply, sewerage, waste management and remediation activities | 0 | [7] |
Construction | 0 | [7] |
Wholesale and retail trade, repair of motor vehicles and motorcycles | 0 | [7] |
Transport and storage | 0 | [7] |
Accommodation and food service activities | 0 | [7] |
Information and communication | 0 | [7] |
Financial and insurance activities | 66,949 | [7] |
Real estate activities | 28 | [7] |
Professional, scientific and technical activities | 0 | [7] |
Administrative and support service activities | 131 | [7] |
Public administration and defense, compulsory social security | 1,631 | [7] |
Education | 0 | [7] |
Human health services and social work activities | 0 | [7] |
Arts, entertainment and recreation | 0 | [7] |
Other service activities | 13 | [7] |
Activities of households as employers, undifferentiated goods- and services-producing activities of households for own use | 0 | [7] |
Activities of extraterritorial organizations and bodies | 0 | [7] |
Total | 68,752 | [7] |
Repo and repo-style transactions [Member] | at fair value through OCI [Member] | ||
Credit Risk Profile by Industry Sector [Line Items] | ||
Agriculture, forestry and fishing | 0 | [7],[9] |
Mining and quarrying | 0 | [7],[9] |
Manufacturing | 0 | [7],[9] |
Electricity, gas, steam and air conditioning supply | 0 | [7],[9] |
Water supply, sewerage, waste management and remediation activities | 0 | [7],[9] |
Construction | 0 | [7],[9] |
Wholesale and retail trade, repair of motor vehicles and motorcycles | 0 | [7],[9] |
Transport and storage | 0 | [7],[9] |
Accommodation and food service activities | 0 | [7],[9] |
Information and communication | 0 | [7],[9] |
Financial and insurance activities | 1,097 | [7],[9] |
Real estate activities | 0 | [7],[9] |
Professional, scientific and technical activities | 0 | [7],[9] |
Administrative and support service activities | 0 | [7],[9] |
Public administration and defense, compulsory social security | 0 | [7],[9] |
Education | 0 | [7],[9] |
Human health services and social work activities | 0 | [7],[9] |
Arts, entertainment and recreation | 0 | [7],[9] |
Other service activities | 0 | [7],[9] |
Activities of households as employers, undifferentiated goods- and services-producing activities of households for own use | 0 | [7],[9] |
Activities of extraterritorial organizations and bodies | 0 | [7],[9] |
Total | € 1,097 | [7],[9] |
[1] | Includes stage 3 and stage 3 POCI loans at amortized cost amounting to EUR 9.1 billion as of December 31, 2018. | |
[2] | Includes stage 3 and stage 3 POCI loans at fair value through OCI amounting to EUR 1 million as of December 31, 2018 | |
[3] | Includes stage 3 and stage 3 POCI off-balance sheet exposure amounting to EUR 599 million as of December 31, 2018. | |
[4] | Includes the effect of netting agreements and cash collateral received where applicable. Excludes derivatives qualifying for hedge accounting | |
[5] | Includes stage 3 and stage 3 POCI debt securities at amortized cost amounting to EUR 73 million as of December 31, 2018. | |
[6] | Includes stage 3 and stage 3 POCI debt securities at fair value through OCI amounting to EUR 2 million as of December 31, 2018. | |
[7] | Before reflection of collateral and limited to securities purchased under resale agreements and securities borrowed | |
[8] | Includes stage 3 and stage 3 POCI repo and repo-style transactions at amortized cost amounting to EUR 0 as of December 31, 2018. | |
[9] | Includes stage 3 and stage 3 POCI repo and repo-style transactions at fair value through OCI amounting to EUR 0 as of December 31, 2018. |
Risk Report - Nontrading Market
Risk Report - Nontrading Market Risk Exposures - Economic Capital Usage by risk type (Detail) - Economic capital usage [Member] - EUR (€) € in Millions | Dec. 31, 2018 | Dec. 31, 2017 |
Carrying Value and Economic Capital Usage for Nontrading Market Risk Portfolios [line items] | ||
Interest rate risk | € 1,416 | € 1,743 |
Credit spread risk | 271 | 722 |
Equity and investment risk | 1,239 | 1,431 |
Foreign exchange risk | 1,713 | 1,509 |
Pension risk | 1,588 | 1,174 |
Guaranteed funds risk | 68 | 49 |
Nontrading market risk portfolios | € 6,295 | € 6,628 |
Parenthetical Information Liqui
Parenthetical Information Liquidity Risk Management (Detail: Text Values) - 12 months ended Dec. 31, 2018 £ in Billions, $ in Billions | USD ($) | GBP (£) |
U.S. dollar [Member] | ||
Liquidity Risk Management [Line Items] | ||
Maximum short position in any time bucket (more than 1 year to more than 10 years) | $ | $ 10 | |
GBP [Member] | ||
Liquidity Risk Management [Line Items] | ||
Maximum short position in any time bucket (more than 1 year to more than 10 years) | £ | £ 5 |
Financial Assets at Amortized C
Financial Assets at Amortized Cost (Detail: Text Values) € in Millions | Dec. 31, 2018EUR (€) |
Financial assets at amortized cost subject to impairment [Abstract] | |
YoY increase (decrease) mainly driven by Stage 1 | € (25,000) |
YoY increase (decrease) mainly driven by Stage 1, in percent | (4.00%) |
YoY increase (decrease) of Stage 1 exposures driven by Cash and central bank balances due to reductions in deposits and short-term borrowings | € (27,000) |
YoY increase (decrease) of Stage 1 exposures driven by Cash and central bank balances due to reductions in deposits and short-term borrowings, in percent | (4.00%) |
YoY increase (decrease) of Stage 2 exposures driven by Loans at amortized cost in CIB | € 2,000 |
YoY increase (decrease) of Stage 2 exposures driven by Loans at amortized cost in CIB, in percent | 7.00% |
YoY increase (decrease) of Stage 3 exposures driven by CIB, mainly reflecting de-risking activities in our shipping portfolio | € (274) |
YoY increase (decrease) of Stage 3 exposures driven by CIB, mainly reflecting de-risking activities in our shipping portfolio, in percent | (4.00%) |
Allowance for credit losses against financial assets at amortized cost subject to impairment [Abstract] | |
YoY increase (decrease) mainly driven by Stage 3 | € (338) |
YoY increase (decrease) mainly driven by Stage 3, in percent | (7.00%) |
YoY increase (decrease) of Stage 1 allowances driven by additional provisions in CIB to reflect for a weakening macro-economic outlook as well as a one-off adjustment to the calculation methodology on certain loans on which we hold insurance protection | € 47 |
YoY increase (decrease) of Stage 1 allowances driven by additional provisions in CIB to reflect for a weakening macro-economic outlook as well as a one-off adjustment to the calculation methodology on certain loans on which we hold insurance protection, in percent | 10.00% |
YoY increase (decrease) of Stage 3 allowances driven by CIB, where charge offs partly related to de-risking activities in our shipping portfolio overcompensated additional provisions | € (391) |
YoY increase (decrease) of Stage 3 allowances driven by CIB, where charge offs partly related to de-risking activities in our shipping portfolio overcompensated additional provisions, in percent | (11.00%) |
Existing commitments to lend additional funds to debtors with Stage 3 financial assets at amortized cost | € 117 |
Not recognize allowance for credit losses against Financial assets at amortized cost in Stage 3 | € 373 |
Legal Claims (Detail_ Text Valu
Legal Claims (Detail: Text Values) € in Millions | Dec. 31, 2018EUR (€) |
Legal Claims [Abstract] | |
Amounts outstanding on financial assets written off and still subject to enforcement activity | € 224 |
Parenthetical Information Liq_2
Parenthetical Information Liquidity Risk Exposure (Detail: Text Values) € in Billions | Dec. 31, 2018EUR (€) | Dec. 31, 2017 |
Trading range 5 year CDS [Abstract] | ||
Bottom of range in bps | 65 | |
Top of range in bps | 224 | |
At year end in bps | 208 | |
Trading range 2.375 % EUR benchmark bond maturing Jan. 2022 [Abstract] | ||
Bottom of range | 51 | |
Top of range | 259 | |
At year end | 230 | |
Funding plan | € 0 | |
Funding sources [Abstract] | ||
Senior non-preferred plain-vanilla issuance | 9.4 | |
Senior preferred plain-vanilla issuance | 1 | |
Covered bond Issuance | 2.5 | |
Other senior preferred structured issuance | 6.9 | |
Total | 19.8 | |
Thereof emitted in Euro | 8.3 | |
Thereof emitted in USD | 9.7 | |
Thereof emitted in GBP | 0.3 | |
Thereof emitted in other currencies | 1.5 | |
Investor base for issuances [Abstract] | ||
Asset managers and pension funds | 40.00% | |
Retail customers | 19.00% | |
Banks | 8.00% | |
Governments and agencies | 5.00% | |
Insurance companies | 3.00% | |
Other institutional investors | 18.00% | |
Geographical distribution of Funding sources [Abstract] | ||
Germany | 20.00% | |
Rest of Europe | 35.00% | |
US | 25.00% | |
Asia/Pacific | 15.00% | |
Others | 5.00% | |
Average spread of DB issuance over 3 months Euribor in bps | 60 | 71 |
Issuing volume of Funding sources [Abstract] | ||
First quarter | 10.8 | |
Second quarter | 3 | |
Third quarter | 3.2 | |
Fourth quarter | 2.8 |
Parenthetical Information Liq_3
Parenthetical Information Liquidity Risk Exposure II (Detail: Text Values) - EUR (€) € in Billions | Dec. 31, 2018 | Dec. 31, 2017 |
External funding sources [Abstract] | ||
Capital Markets and Equity, percent | 7210.00% | |
Total external funding | € 944 | € 1,016 |
External Funding mainly due [Abstract] | ||
Balances decrease in secured funding and shorts | € 40 | |
Balances decrease in secured funding and shorts, percent | 55.20% | |
Decrease in unsecured wholesale funding | € 16 | |
Decrease in unsecured wholesale funding, percent | 22.70% | |
Decrease in Transaction Banking deposits | € 8 | |
Decrease in Transaction Banking deposits, percent | 11.40% | |
Increase in retail business | € 7 | |
Increase in retail business, percent | 9.80% | |
Decrease in Capital Markets and Equity volume | € 3 | |
Decrease in Capital Markets and Equity volume, percent | 4.60% | |
Overall proportion of our most stable funding sources (comprising capital markets and equity, retail, and transac-tion banking) in percent | 77.50% | 72.00% |
Derivatives & settlement balances | € 325 | € 369 |
Add back for netting effect for Margin & Prime Brokerage cash balances (shown on a net basis) | 51 | 59 |
Other non funding liabilities | € 28 | € 30 |