Document and Entity information
Document and Entity information | 6 Months Ended |
Jun. 30, 2021 | |
Document and Entity Information [Abstract] | |
Entity Registrant Name | Deutsche Bank Aktiengesellschaft |
Entity Central Index Key | 0001159508 |
Current Fiscal Year End Date | --12-31 |
Document Type | 6-K |
Document Period End Date | Jun. 30, 2021 |
Document Fiscal Year Focus | 2021 |
Document Fiscal Period Focus | Q2 |
Amendment Flag | false |
Consolidated Statement of Incom
Consolidated Statement of Income - EUR (€) € in Millions | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2021 | Jun. 30, 2020 | Jun. 30, 2021 | Jun. 30, 2020 | ||
Consolidated Statement of Income [Line Items] | |||||
Interest and similar income | [1] | € 3,994 | € 4,527 | € 8,269 | € 10,018 |
Interest expense | 1,342 | 1,431 | 2,820 | 3,661 | |
Net interest income | [2] | 2,652 | 3,096 | 5,448 | 6,357 |
Provision for credit losses | 75 | 761 | 144 | 1,267 | |
Net interest income after provision for credit losses | 2,577 | 2,334 | 5,304 | 5,090 | |
Commissions and fee income | 2,574 | 2,227 | 5,313 | 4,666 | |
Net gains (losses) on financial assets/liabilities at fair value through profit or loss | 983 | 708 | 2,584 | 939 | |
Net gains (losses) on financial assets at amortized cost | 0 | 171 | 0 | 232 | |
Net gains (losses) on financial assets at fair value through other comprehensive income | 22 | 62 | 130 | 187 | |
Net income (loss) from equity method investments | 40 | 45 | 64 | 60 | |
Other income (loss) | (27) | 33 | 252 | 120 | |
Total noninterest income | 3,591 | 3,246 | 8,343 | 6,203 | |
Compensation and benefits | 2,551 | 2,645 | 5,183 | 5,334 | |
General and administrative expenses | 2,361 | 2,599 | 5,287 | 5,474 | |
Impairment of goodwill and other intangible assets | 0 | 0 | 0 | 0 | |
Restructuring activities | 86 | 123 | 102 | 197 | |
Total noninterest expenses | 4,998 | 5,367 | 10,572 | 11,006 | |
Profit (loss) before tax | 1,170 | 213 | 3,075 | 287 | |
Income tax expense (benefit) | 333 | 129 | 995 | 207 | |
Profit (loss) | 837 | 84 | 2,081 | 80 | |
Profit (loss) attributable to noncontrolling interests | 33 | 32 | 69 | 56 | |
Profit (loss) attributable to Deutsche Bank shareholders and additional equity components | € 804 | € 51 | € 2,012 | € 24 | |
[1] | Interest and similar income include € 3.2 billion € 3.6 billion € 6.6 billion € 7.7 billion | ||||
[2] | Prior year segmental information has been reclassified to the current structure. |
Consolidated Statement of Inc_2
Consolidated Statement of Income (Parenthetical) - EUR (€) € in Millions | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2021 | Jun. 30, 2020 | Jun. 30, 2021 | Jun. 30, 2020 | ||
Consolidated Statement of Income [Abstract] | |||||
Interest and similar income | [1] | € 3,994 | € 4,527 | € 8,269 | € 10,018 |
of which: calculated based on the effective interest rate method | € 3,200 | € 3,600 | € 6,600 | € 7,700 | |
[1] | Interest and similar income include € 3.2 billion € 3.6 billion € 6.6 billion € 7.7 billion |
Earnings per Common Share
Earnings per Common Share - € / shares | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2021 | Jun. 30, 2020 | Jun. 30, 2021 | Jun. 30, 2020 | ||
Earnings per share [Abstract] | |||||
Basic | [1],[2] | € 0.21 | € (0.14) | € 0.79 | € (0.15) |
Diluted | [1],[2] | € 0.21 | € (0.14) | € 0.77 | € (0.15) |
Number of shares in million [Abstract] | |||||
Denominator for basic earnings per share, weighted-average shares outstanding | 2,096.4 | 2,111 | 2,096.3 | 2,112.9 | |
Denominator for diluted earnings per share, adjusted weighted-average shares after assumed conversions | 2,141.8 | 2,111 | 2,137.9 | 2,112.9 | |
[1] | Due to the net loss situation for the three and six months ended June 30, 2020 potentially dilutive shares are generally not considered for the EPS 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 by € 68.4 million € 73.7 million | ||||
[2] | Earnings were adjusted by € 363 million € 349 million |
Earnings per Common Share (Pare
Earnings per Common Share (Parenthetical) - EUR (€) | 3 Months Ended | 6 Months Ended | |
Jun. 30, 2020 | Jun. 30, 2021 | Jun. 30, 2020 | |
Earnings per Common Share [Abstract] | |||
Earnings adjusted for coupons paid in April for Additional Tier 1 Notes, before tax | € 363,000,000 | € 349,000,000 | |
Increase of adjusted weighted average shares after assumed conversion | € 68,400,000 | € 73,700,000 |
Consolidated Statement of Compr
Consolidated Statement of Comprehensive Income - EUR (€) € in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2021 | Jun. 30, 2020 | Jun. 30, 2021 | Jun. 30, 2020 | |
Consolidated Statement of Comprehensive Income [Line Items] | ||||
Profit (loss) recognized in the income statement | € 837 | € 84 | € 2,081 | € 80 |
Other Comprehensive Income: Items that will not be reclassified to profit or loss [Abstract] | ||||
Remeasurement gains (losses) related to defined benefit plans, before tax | 287 | (207) | 499 | 159 |
Net fair value gains (losses) attributable to credit risk related to financial liabilities designated as at fair value through profit or loss, before tax | (17) | 93 | (12) | 124 |
Total of income tax related to items that will not be reclassified to profit or loss | (38) | 186 | (138) | (86) |
Items that are or may be reclassified to profit or loss: Financial assets at fair value through other comprehensive income [Abstract] | ||||
Unrealized net gains (losses) arising during the period, before tax | (74) | 217 | (325) | 391 |
Realized net (gains) losses arising during the period (reclassified to profit or loss), before tax | (22) | (62) | (130) | (187) |
Derivatives hedging variability of cash flows [Abstract] | ||||
Unrealized net gains (losses) arising during the period, before tax | (4) | (14) | 23 | (17) |
Realized net (gains) losses arising during the period (reclassified to profit or loss), before tax | (13) | (1) | (20) | (1) |
Assets classified as held for sale [Abstract] | ||||
Unrealized net gains (losses) arising during the period, before tax | 0 | 0 | 0 | 0 |
Realized net (gains) losses arising during the period (reclassified to profit or loss), before tax | 0 | 0 | 0 | 0 |
Foreign currency translation [Abstract] | ||||
Unrealized net gains (losses) arising during the period, before tax | (205) | (436) | 465 | (449) |
Realized net (gains) losses arising during the period (reclassified to profit or loss), before tax | (10) | 0 | (12) | 0 |
Equity Method Investments [Abstract] | ||||
Net gains (losses) arising during the period | (6) | 1 | (6) | 1 |
Total of income tax related to items that are or may be reclassified to profit or loss | 53 | (47) | 178 | (106) |
Other comprehensive income (loss), net of tax | (49) | (269) | 521 | (171) |
Total comprehensive income (loss), net of tax | 788 | (186) | 2,602 | (92) |
Attributable to [Abstract] | ||||
Noncontrolling interests | 27 | 13 | 96 | 47 |
Deutsche Bank shareholders and additional equity components | € 760 | € (198) | € 2,506 | € (138) |
Consolidated Balance Sheet
Consolidated Balance Sheet - EUR (€) € in Millions | Jun. 30, 2021 | Dec. 31, 2020 | |
Assets [Abstract] | |||
Cash and central bank balances | € 198,268 | € 166,208 | |
Interbank balances (w/o central banks) | 8,359 | 9,130 | |
Central bank funds sold and securities purchased under resale agreements | 8,519 | 8,533 | |
Securities borrowed | 33 | 0 | |
Financial assets at fair value through profit or loss [Abstract] | |||
Trading assets | 112,120 | 107,929 | |
Positive market values from derivative financial instruments | 273,890 | 343,493 | |
Non-trading financial assets mandatory at fair value through profit and loss | 83,412 | 76,121 | |
Financial assets designated at fair value through profit or loss | 90 | 437 | |
Total financial assets at fair value through profit or loss | 469,511 | 527,980 | |
Financial assets at fair value through other comprehensive income | 37,186 | 55,834 | |
Equity method investments | 1,110 | 901 | |
Loans at amortized cost | 440,747 | 426,691 | |
Property and equipment | 5,378 | 5,549 | |
Goodwill and other intangible assets | 6,846 | 6,725 | |
Other assets | [1] | 137,941 | 110,360 |
Assets for current tax | 1,036 | 986 | |
Deferred tax assets | 5,800 | 6,063 | |
Total assets | 1,320,734 | 1,324,961 | |
Liabilities and equity [Abstract] | |||
Deposits | 581,490 | 567,745 | |
Central bank funds purchased and securities sold under repurchase agreements | 3,144 | 2,325 | |
Securities loaned | 1,123 | 1,697 | |
Financial liabilities at fair value through profit or loss [Abstract] | |||
Trading liabilities | 56,121 | 44,316 | |
Negative market values from derivative financial instruments | 264,564 | 327,775 | |
Financial liabilities designated at fair value through profit or loss | 52,921 | 46,582 | |
Investment contract liabilities | 560 | 526 | |
Total financial liabilities at fair value through profit or loss | 374,167 | 419,199 | |
Other short-term borrowings | 3,428 | 3,553 | |
Other liabilities | [1] | 137,847 | 114,208 |
Provisions | 2,556 | 2,430 | |
Liabilities for current tax | 884 | 574 | |
Deferred tax liabilities | 507 | 561 | |
Long-term debt | 149,139 | 149,163 | |
Trust preferred securities | 1,044 | 1,321 | |
Total liabilities | 1,255,328 | 1,262,777 | |
Common shares, no par value, nominal value of EUR 2.56 | 5,291 | 5,291 | |
Additional paid-in capital | 40,460 | 40,606 | |
Retained earnings | 12,004 | 10,002 | |
Common shares in treasury, at cost | (28) | (7) | |
Accumulated other comprehensive income (loss), net of tax | (979) | (1,118) | |
Total shareholders equity | 56,748 | 54,774 | |
Additional equity components | 7,068 | 5,824 | |
Noncontrolling interests | 1,591 | 1,587 | |
Total equity | 65,406 | 62,184 | |
Total liabilities and equity | € 1,320,734 | € 1,324,961 | |
[1] | Includes non-current assets and disposal groups held for sale. |
Consolidated Statement of Chang
Consolidated Statement of Changes in Equity - EUR (€) € in Millions | Total equity [Member] | 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 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, 2019 | € 62,160 | € 5,291 | € 40,505 | € 9,644 | € (4) | € 45 | € 25 | € 14 | € 0 | € 336 | € 0 | € 421 | € 55,857 | € 4,665 | € 1,638 | |||||||||
Total comprehensive income (loss), net of tax | [3] | (199) | 0 | 0 | 24 | 0 | 113 | 91 | (13) | 0 | (460) | (1) | (270) | (246) | 0 | 47 | ||||||||
Gains (losses) attributable to Equity instruments designated at FVTOCI, net of tax | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |||||||||
Gains (losses) upon early ext. attributable to change in own credit risk of financial liabilities designated at FVTPL, net of tax | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |||||||||
Cash dividends paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |||||||||
Coupon on additional equity components, net of tax | (349) | 0 | 0 | (349) | [4] | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | (349) | [4] | 0 | 0 | |||||||
Remeasurement gains (losses) related to defined benefit plans, net of tax | 107 | 0 | 0 | 107 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 107 | 0 | (1) | |||||||||
Net change in share awards in the reporting period | (144) | 0 | (141) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | (141) | 0 | (3) | |||||||||
Treasury shares distributed under share-based compensation plans | 139 | 0 | 0 | 0 | 139 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 139 | 0 | 0 | |||||||||
Tax benefits related to share-based compensation plans | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |||||||||
Option premiums and other effects from options on common shares | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |||||||||
Purchases of treasury shares | (255) | 0 | 0 | 0 | (255) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | (255) | 0 | 0 | |||||||||
Sale of treasury shares | 64 | 0 | 0 | 0 | 64 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 64 | 0 | 0 | |||||||||
Net gains (losses) on treasury shares sold | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |||||||||
Other | 1,248 | 0 | 120 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 120 | 1,161 | [5] | (34) | ||||||||
Equity, Balance at Jun. 30, 2020 | 62,771 | 5,291 | 40,484 | 9,427 | (56) | 158 | 116 | 1 | 0 | (123) | (1) | 151 | 55,297 | 5,826 | 1,648 | |||||||||
Equity, Balance at Dec. 31, 2020 | 62,184 | 5,291 | 40,606 | 10,002 | (7) | 278 | 7 | 7 | 0 | (1,411) | (1) | (1,118) | 54,774 | 5,824 | 1,587 | |||||||||
Total comprehensive income (loss), net of tax | [3] | 2,245 | 0 | 0 | 2,012 | 0 | (322) | (8) | 1 | 0 | 475 | (6) | 139 | 2,151 | 0 | 94 | ||||||||
Gains (losses) attributable to Equity instruments designated at FVTOCI, net of tax | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |||||||||
Gains (losses) upon early ext. attributable to change in own credit risk of financial liabilities designated at FVTPL, net of tax | (2) | 0 | 0 | (2) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | (2) | 0 | 0 | |||||||||
Cash dividends paid | (79) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | (79) | |||||||||
Coupon on additional equity components, net of tax | (363) | 0 | 0 | (363) | [4] | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | (363) | [4] | 0 | 0 | |||||||
Remeasurement gains (losses) related to defined benefit plans, net of tax | 357 | 0 | 0 | 355 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 355 | 0 | 3 | |||||||||
Net change in share awards in the reporting period | (219) | 0 | (218) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | (218) | 0 | (2) | |||||||||
Treasury shares distributed under share-based compensation plans | 248 | 0 | 0 | 0 | 248 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 248 | 0 | 0 | |||||||||
Tax benefits related to share-based compensation plans | 15 | 0 | 15 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 15 | 0 | 0 | |||||||||
Option premiums and other effects from options on common shares | (50) | 0 | (50) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | (50) | 0 | 0 | |||||||||
Purchases of treasury shares | (289) | 0 | 0 | 0 | (289) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | (289) | 0 | 0 | |||||||||
Sale of treasury shares | 20 | 0 | 0 | 0 | 20 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 20 | 0 | 0 | |||||||||
Net gains (losses) on treasury shares sold | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |||||||||
Other | 1,340 | 0 | 107 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 107 | 1,243 | [5] | (11) | ||||||||
Equity, Balance at Jun. 30, 2021 | € 65,406 | € 5,291 | € 40,460 | € 12,004 | € (28) | € (44) | € (1) | € 8 | € 0 | € (935) | € (7) | € (979) | € 56,748 | € 7,068 | € 1,591 | |||||||||
[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] | Since 2019 tax impact is recognized in net income (loss) directly. | |||||||||||||||||||||||
[5] | Includes net proceeds from issuance, purchase and sale of Additional Equity Components. |
Consolidated Statement of Cash
Consolidated Statement of Cash Flows - EUR (€) € in Millions | 6 Months Ended | |||
Jun. 30, 2021 | Jun. 30, 2020 | |||
Consolidated Statement of Cash Flows [Line Items] | ||||
Profit (loss) | € 2,081 | € 80 | ||
Cash flows from operating activities: Adjustments to reconcile net income to net cash provided by (used in) operating activities [Abstract] | ||||
Provision for credit losses | 144 | 1,267 | ||
Restructuring activities | 102 | 197 | ||
Gain on sale of financial assets at fair value through other comprehensive income, equity method investments and other | (160) | (411) | ||
Deferred income taxes, net | 326 | (113) | ||
Impairment, depreciation and other amortization, and accretion | 1,598 | 952 | ||
Share of net income from equity method investments | (109) | (60) | ||
Income (loss) adjusted for noncash charges, credits and other items | 3,982 | 1,912 | ||
Adjustments for net change in operating assets and liabilities [Abstract] | ||||
Interest-earning time deposits with central banks and banks | 1,599 | (632) | ||
Central bank funds sold, securities purchased under resale agreements, securities borrowed | (18) | 7,374 | ||
Non-Trading financial assets mandatory at fair value through profit and loss | (5,821) | 3,506 | ||
Financial assets designated at fair value through profit or loss | 352 | (377) | ||
Loans at amortized cost | (12,908) | (7,511) | ||
Other assets | (30,090) | (43,497) | ||
Deposits | 12,927 | 762 | ||
Financial liabilities designated at fair value through profit or loss and investment contract liabilities | [1] | 5,936 | 3,483 | |
Central bank funds purchased, securities sold under repurchase agreements, securities loaned | 248 | 4,141 | ||
Other short-term borrowings | (126) | (1,229) | ||
Other liabilities | 24,841 | 40,054 | ||
Senior long-term debt | [2] | (980) | 17,332 | |
Trading assets and liabilities, positive and negative market values from derivative financial instruments, net | 14,096 | (1,045) | ||
Other, net | (332) | (59) | ||
Net cash provided by (used in) operating activities | 13,705 | 24,214 | ||
Cash flows from investing activities: Proceeds from [Abstract] | ||||
Sale of financial assets at fair value through other comprehensive income | 35,066 | 21,931 | ||
Maturities of financial assets at fair value through other comprehensive income | 11,862 | 19,190 | ||
Sale of debt securities held to collect at amortized cost | 42 | 6,663 | ||
Maturities of debt securities held to collect at amortized cost | 3,124 | 2,106 | ||
Sale of equity method investments | 17 | 29 | ||
Sale of property and equipment | 103 | 4 | ||
Purchase of [Abstract] | ||||
Financial assets at fair value through other comprehensive income | (28,991) | (41,614) | ||
Debt securities held to collect at amortized cost | (3,089) | (2,098) | ||
Equity method investments | (84) | (3) | ||
Property and equipment | (249) | (181) | ||
Net cash received in (paid for) business combinations/divestitures | 0 | 2 | ||
Other, net | (503) | (436) | ||
Net cash provided by (used in) investing activities | 17,299 | 5,593 | ||
Cash flows from financing activities [Abstract] | ||||
Issuances of subordinated long-term debt | 1,070 | [3] | 22 | |
Repayments and extinguishments of subordinated long-term debt | (25) | [3] | (1,131) | |
Issuances of trust preferred securities | 0 | [4] | 0 | |
Repayments and extinguishments of trust preferred securities | (4) | [4] | (711) | |
Principal portion of lease payments | (353) | (311) | ||
Common shares issued | 0 | 0 | ||
Purchases of treasury shares | (289) | (255) | ||
Sale of treasury shares | 20 | 52 | ||
Additional Equity Components (AT1) issued | 1,250 | 1,153 | ||
Purchases of Additional Equity Components (AT1) | (2,446) | (731) | ||
Sale of Additional Equity Components (AT1) | 2,450 | 723 | ||
Coupon on additional equity components, pre tax | (363) | (349) | ||
Dividends paid to noncontrolling interests | (79) | 0 | ||
Net change in noncontrolling interests | (11) | (34) | ||
Cash dividends paid to Deutsche Bank shareholders | 0 | 0 | ||
Other, net | 0 | 0 | ||
Net cash provided by (used in) financing activities | 1,221 | (1,572) | ||
Net effect of exchange rate changes on cash and cash equivalents | 442 | 472 | ||
Net increase (decrease) in cash and cash equivalents | 32,667 | 28,709 | ||
Cash and cash equivalents at beginning of period | 156,328 | 128,869 | ||
Cash and cash equivalents at end of period | 188,996 | 157,578 | ||
Net cash provided by (used in) operating activities include [Abstract] | ||||
Income taxes paid (received), net | 386 | 363 | ||
Interest paid | 2,808 | 4,403 | ||
Interest and dividends received [Abstract] | ||||
Interest received | 7,626 | 10,496 | ||
Dividend received | 173 | 245 | ||
Cash and cash equivalents comprise [Abstract] | ||||
Cash and central bank balances (not included Interest-earning time deposits with central banks) | 182,195 | 149,447 | ||
Interbank balances (w/o central banks) | 6,801 | 8,131 | ||
Total | € 188,996 | € 157,578 | ||
[1] | Included are senior long-term debt issuances of € 285 million € 1.0 billion € 612 million € 1.3 billion | |||
[2] | Included are issuances of € 18.4 billion € 37.0 billion € 19.4 billion € 20.1 billion | |||
[3] | Non-cash changes for Subordinated Long-Term Debt are € 27 million € 122 million € (96) million | |||
[4] | Non-cash changes for Trust Preferred Securities are € (273) million € (259) million |
Consolidated Statement of Cas_2
Consolidated Statement of Cash Flows (Parenthetical) - EUR (€) € in Millions | 6 Months Ended | |
Jun. 30, 2021 | Jun. 30, 2020 | |
Financial Liabilities Designated at Fair Value Through Profit or Loss and Investment Contract Liabilities [Abstract] | ||
of which: Senior long-term debt issuances | € 285 | € 1,000 |
of which: Repayments and extinguishments | 612 | 1,300 |
Senior long-term debt [Abstract] | ||
of which: Issuances | 18,400 | 37,000 |
of which: Repayments and extinguishments | 19,400 | € 20,100 |
Total non-cash changes for Subordinated Long Term Debt | 27 | |
of which: Driven by FX movements | 122 | |
of which: Driven by FV changes | (96) | |
Non-cash changes for Trust Preferred Securities | (273) | |
of which: Driven by FV Changes | € (259) |
Basis of Preparation - Impact o
Basis of Preparation - Impact of changes in accounting principles | 6 Months Ended |
Jun. 30, 2021 | |
Basis of Preparation of Financial Statements - Impact of changes in accounting principles [Abstract] | |
Disclosure of changes in accounting policies [text block] | Basis of preparation/impact of changes in accounting principles The consolidated interim financial statements of Deutsche Bank Aktiengesellschaft For purposes of the Group’s primary financial reporting outside the United States, the Group prepares its consolidated interim financial statements in accordance with IFRS as endorsed by the EU. For purposes of the Group’s consolidated interim financial statements prepared in accordance with IFRS as endorsed by the EU, the Group applies fair value hedge accounting for portfolio hedges of interest rate risk (fair value macro hedges) in accordance with the EU carve out version of IAS 39. The purpose of applying the EU carve out version of IAS 39 is to align the Group’s hedge accounting approach with its risk management practice and the accounting practice of its major European peers. Under the EU carve out version of IAS 39, fair value macro hedge accounting may be applied to core deposits and hedge ineffectiveness is only recognized when the revised estimate of the amount of cash flows in scheduled time buckets falls below the original designated amount of that bucket. If the revised amount of cash flows in scheduled time buckets is more than the original designated amount then there is no hedge ineffectiveness. Under IFRS as issued by the IASB, hedge accounting for fair value macro hedges cannot be applied to core deposits. In addition, under IFRS as issued by the IASB hedge ineffectiveness arises for all fair value macro hedge accounting relationships whenever the revised estimate of the amount of cash flows in scheduled time buckets is either more or less than the original designated amount of that bucket. For the three-month period ended June 30, 2021 € 5 million € 9 million € 55 million € 23 million € 321 million € 216 million € 77 million € 47 million 1 6 1 The Group’s consolidated interim financial statements are unaudited and include the consolidated balance sheet as of June 30, 2021, the related consolidated statements of income, comprehensive income, changes in equity and cash flows for the six-month period ended June 30, 2021 as well as other information (e.g. Basis of preparation/impact of changes in accounting principles). The Group’s consolidated interim financial statements should be read in conjunction with the audited consolidated financial statements of Deutsche Bank for the year ended December 31, 2020, for which the same accounting policies, critical accounting estimates and changes in accounting estimates have been applied with the exception of the newly adopted accounting pronouncements outlined in section “Recently adopted accounting pronouncements”. The preparation of financial information 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, especially in relation to the COVID-19 pandemic, and the results reported should not be regarded as necessarily indicative of results that may be expected for the entire year. |
Recently Adopted and New Accounting Pronouncements [text block] | Recently adopted accounting pronouncements The following are those accounting pronouncements which are relevant to the Group and which have been newly applied in the first six months of 2021. Interest Rate Benchmark Reform (Amendments to IFRS 9, IAS 39, IFRS 7, IFRS 4 and IFRS 16) On January 1, 2021, the Group adopted amendments to IFRS 9, “Financial Instruments”, IAS 39, “Financial Instruments: Recognition and Measurement“, IFRS 7, “Financial Instruments: Disclosures”, IFRS 4, “Insurance Contracts” and IFRS 16, “Leases” as Phase 2 of the IASB’s project addressing the potential effects from the reform of the Interbank Offered Rate (“IBOR”) on financial reporting. The Group adopted Phase 1 requirements on January 1, 2019. Although the path for IBOR transition is well progressed (including the timeline of IBOR cessation and for some contracts the replacement rate and spread adjustment), some uncertainties still remain such that the Phase 1 related reliefs continue to apply. The amendments in Phase 2 deal with replacement issues, therefore, they address issues that might affect financial reporting when an existing interest rate benchmark is actually replaced. This includes modification of financial assets, financial liabilities and lease liabilities as well as specific hedge accounting requirements. The amendments introduce a practical expedient for modifications required by the reform (modifications required as a direct consequence of the IBOR reform and made on an economically equivalent basis). These modifications are accounted for by updating the effective interest rate. All other modifications are accounted for using the current IFRS requirements. A similar practical expedient is introduced for lessee accounting applying IFRS 16, whereby when assessing the lease modification due to IBOR reform the discount rate used in calculating the revised carrying value of the lease liability is amended for the change in the benchmark rate only. In addition, under the amendments hedge accounting is not discontinued solely because of the IBOR reform. Hedging relationships (and related documentation) must be amended to reflect modifications to the hedged item, hedging instrument and hedged risk. Amended hedging relationships should meet all qualifying criteria to apply hedge accounting, including effectiveness requirements. The amendments also require additional disclosures that allow users to understand the nature and extent of risks arising from the IBOR reform to which the entity is exposed to and how the entity manages those risks. In addition, the entity’s progress in transitioning from IBORs to alternative benchmark rates, and how the entity is managing this transition requires disclosure. The Group established a Group-wide IBOR & EU Benchmark Regulation transition program in 2018, aimed at managing a smooth transition from LIBOR and other IBORs to the new Risk-free Rates (RFRs). The program is sponsored by the Chief Financial Officer and has senior representation from each division, region and infrastructure functions. The program has been focused on identifying and quantifying exposures to various interest rate benchmarks, providing the capability to trade products referencing alternative RFRs and evaluating existing contracts that reference IBORs. Progress updates are provided monthly to the Group’s IBOR Transition Steering Committee and the CFO. Oversight of the program to prepare for the transition has been a major focus along with activities across all three lines of defense to minimize risk and disruption to customers. The Group has significant exposure to IBORs predominantly in financial instruments and many of these contracts mature after 2021. The Group’s exposures from derivatives results from transactions that are entered into in order to make markets for its clients and hedge its risks as well as from loans and deposits, bonds and securitizations. The Group has detailed plans, processes and procedures in place to support the transition by their planned cessation date. As part of the program, the Group has undertaken a comprehensive risk assessment which is refreshed regularly and has identified key inherent risks and mitigating actions. Key risks include business strategic risk, legal and compliance risk, conduct risk, liquidity risk, market risk, credit risk, operational risk, transition risk, model risk, accounting, financial reporting and tax risk, information security and technology transformation risk. The Group continues to implement plans, aiming to mitigate the risks associated with the expected discontinuation of IBOR-referenced benchmark interest rates, including LIBOR. In this regards, the Group: – – – – The Group continues to develop infrastructure improvements and assess potential transition risk impacts alongside relevant stress scenarios. Where possible, the Group is proactively using the most effective fallback language available when conducting new transactions. Although the Group has significant exposure to IBORs predominantly in financial instruments, the amendments did not have a material impact on transition on the Group’s consolidated financial statements. As the industry transitions from IBOR to RFR, market liquidity is expected to reduce in IBOR based financial instruments and to increase in RFR based financial instruments. The valuation of financial instruments is accordingly expected to be derived with reference to RFRs. This is not expected to have a material impact on the Group’s consolidated income statement. In some jurisdictions and in some currencies there are multiple reference rates emerging that may be adopted in certain financial instruments. The Group examines these reference rates and will monitor market developments over time. IFRS 4 “Insurance Contracts” On January 1, 2021, the Group adopted amendments to IFRS 4 “Insurance Contracts” which extend the temporary exemption to apply IFRS 9 to annual periods beginning on or after January 1, 2023. The amendments did not have a material impact on the Group’s consolidated financial statements. New accounting pronouncements The following accounting pronouncements were not effective as of June 30, 2021 and therefore have not been applied in the first six months of 2021. 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, 2023. 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. These amendments have yet to be endorsed by the EU. In June 2020, the IASB issued amendments to IFRS 17 “Insurance Contracts” that address concerns and implementation challenges that were identified after IFRS 17 was published in 2017. The amendments are effective for annual periods beginning on or after January 1, 2023 with early adoption permitted. These amendments have yet to be endorsed by the EU. IFRS 16 “Leases” In March 2021, the IASB issued amendments to IFRS 16 “Leases” that extend the previously provided exemption for lessees from assessing whether a COVID-19-related rent concession is a lease modification to rent concessions for which any reduction in lease payments affects only payments originally due on or before June 30, 2022 (rather than only payments originally due on or before June 30, 2021). The amendments are effective for annual periods beginning on or after April 1, 2021 with early adoption permitted including financial statements not yet authorized for issue at March 31, 2021. The amendment is also available for interim reports. The amendments will not have any impact on the Group’s consolidated financial statements. These amendments have yet to be endorsed by the EU. IAS 37 “Provisions, Contingent Liabilities and Contingent Assets” In May 2020, the IASB issued amendments to IAS 37, “Provisions, Contingent Liabilities and Contingent Assets” to clarify what costs an entity considers in assessing whether a contract is onerous. The amendments specify that the ‘cost of fulfilling’ a contract comprises the ‘costs that relate directly to the contract’. Costs that relate directly to a contract can either be incremental costs of fulfilling that contract or an allocation of other costs that relate directly to fulfilling contracts. The amendments are effective for annual periods beginning on or after January 1, 2022 with early adoption permitted. The amendments will not have a material impact on the Group’s consolidated financial statements. IAS 12 “Income Taxes” In May 2021, the IASB issued amendments to IAS 12 “Income Taxes”. They change the deferred tax treatment related to assets and liabilities in a single transaction such that they introduce an exemption from the initial recognition exemption provided in IAS 12.15(b) and IAS 12.24. Accordingly, the initial recognition exemption does not apply to transactions in which both deductible and taxable temporary differences arise on initial recognition that result in the recognition of equal deferred tax assets and liabilities. The amendments will be effective for annual periods beginning on or after January 1, 2023 with early adoption permitted. The amendment will not have a material impact on the Group’s consolidated financial statements. These amendments have yet to be endorsed by the EU. IAS 1 “Presentation of Financial Statements” In January 2020 and July 2020, the IASB issued amendments to IAS 1 “Presentation of Financial Statements: Classification of Liabilities as Current or Non-Current”. They clarify that the classification of liabilities as current or non-current should be based on rights that are in existence at the end of the reporting period. The amendments also clarify that classification is unaffected by expectations about whether an entity will exercise its right to defer settlement of a liability and make clear that settlement refers to the transfer to the counterparty of cash, equity instruments, other assets or services. The amendments will be effective for annual periods beginning on or after January 1, 2023 with early adoption permitted. The amendment will not have a material impact on the Group’s consolidated financial statements. These amendments have yet to be endorsed by the EU. Improvements to IFRS 2018-2020 Cycles In May 2020, the IASB issued amendments to multiple IFRS standards, which resulted from the IASB’s annual improvement project for the 2018-2020 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 1 “First-time Adoption of International Financial Reporting Standards”, IFRS 9 “Financial Instruments”, IFRS 16 “Leases” and IAS 41 “Agriculture”. The amendments to IFRS 9 clarify which fees an entity includes when assessing whether to derecognize a financial liability. The amendments will be effective for annual periods beginning on or after January 1, 2022 with early adoption permitted. The amendments will not have a material impact on the Group’s consolidated financial statements. Business segments Commencing from first quarter of 2021, Corporate Bank reports revenues in three categories: Institutional Client Services, Corporate Treasury Services and Business Banking. Institutional Client Services comprises of Cash Management for Institutional clients, Trust and Agency Services, as well as Securities Services, all of which were previously reported under “Global Transaction Banking’. Corporate Treasury Services provides the full suite of Trade Finance and Lending, as well as Corporate Cash Management for large and mid-sized corporate clients, previously reported under ‘Global Transaction Banking’ and ‘Commercial Banking Germany’. Business Banking – previously reported under ‘Commercial Banking Germany’ - covers small corporates and entrepreneur clients and offers a largely standardized product suite. In addition, based on management decisions during the reporting period further divisional changes were introduced. The prior year segmental information is presented in the current structure. Commencing from the second quarter of 2021, Investment Bank presents CLO recovery gains and losses in its revenue category “Other”. Previously these gains and losses were presented in “FIC Sales & Trading” and “Origination & Advisory”. Prior period data has been reclassified. |
Impact of Deutsche Banks Transf
Impact of Deutsche Banks Transformation | 6 Months Ended |
Jun. 30, 2021 | |
Deutsche Banks Transformation [Abstract] | |
Impact of Deutsche Bank's transformation [text block] | Impact of Deutsche Bank’s transformation On July 7, 2019, Deutsche Bank announced a number of transformational measures relating to the Group’s businesses and its organization. The immediate and secondary impacts that these measures had on the Group’s operating results and financial position are disclosed below. Impairment and amortization of self-developed software In line with the transformation announcement, the Group reviewed current platform software and software under construction assigned to businesses subject to the transformation strategy. Accordingly, the reassessment of the respective recoverable amounts led to an impairment of self-developed software of € 0 million € 16 million € 0 million € 33 million In addition, the Group recorded amortization on software subject to the transformation strategy of € 25 million € 47 million € 50 million € 94 million Impairment of Right-of-Use assets and other related impacts The Group recognized impairments, accelerated or higher depreciation of Right-of-Use (RoU) assets, asset write downs and accelerated depreciation on leasehold improvements and furniture, onerous contracts provisions for non-lease costs, depreciation of capitalized reinstatement costs and other one-time relocation costs of € 39 million € 11 million € 101 million € 21 million Deferred tax asset valuation adjustments Each quarter, the Group re-evaluates its estimate related to deferred tax assets, including its assumptions about future profitability. In connection with the transformation the Group adjusted the estimate related to deferred tax assets in affected jurisdictions, such as the UK and the U.S., and recognized € 21 million € 30 million € 21 million € 35 million Restructuring and severance charges Starting with the announcement of the transformation of Deutsche Bank on July 7, 2019, we designated all restructuring expenses as related to the transformation announcement and the subsequent business re-organization and perimeter changes resulting in € 86 million € 123 million € 102 million € 197 million 275 In addition to these restructuring expenses, € 38 million € 62 million € 79 million € 76 million Other transformation related expenses As a result of the strategic transformation, the Group recognized other transformation related expenses including expenses for Audit, Accounting & Tax, consulting fees and IT consulting fees of € 35 million € 21 million € 64 million € 32 million |
Impact of Covid19
Impact of Covid19 | 6 Months Ended |
Jun. 30, 2021 | |
Impact of Covid 19 [Abstract] | |
Impact of Covid19 [text block] | Impact of COVID-19 In this section we provide information on COVID-19 related topics. Moratoria, government assistance and grants The following summarizes the impact on the Group of its participation in Moratoria, Government Assistance Programs and grants as well as ECB Targeted Longer-term Refinancing Operations related to COVID-19. Government and private sector debt moratoria During the first six months of 2021, the Group participated in both legislative and non-legislative moratoria schemes primarily in relation to its retail and commercial loan portfolios. Upon granting the moratoria, the carrying value of the loan was amended by scheduling out the new expected cash flows and discounting at the original effective interest rate. The difference in the carrying value was taken as a loss to Interest income in Profit and loss. The amount was not material to the Group. Government assistance via guarantees and sponsored lending for COVID-19 impacted borrowers After the outbreak of the COVID-19 pandemic, a number of states issued programs offering guarantee schemes for borrowers impacted by COVID-19. The Group has provided approximately € 4.5 billion € 0.3 billion Impact of ECB Targeted Longer-term Refinancing Operations (TLTRO III) The Governing Council of the ECB decided on a number of modifications to the terms and conditions of its Targeted Longer-Term Refinancing Operations III (TLTRO III)-refinancing program in order to support further the provision of credit to households and firms in the face of the current economic disruption and heightened uncertainty caused by the COVID-19 pandemic. The base interest rate under the TLTRO III-refinancing program is the average of the main refinancing operations rate with the exception of the period from June 24, 2020 to June 23, 2022, when a discount of 50 basis points applies (“base rate discount”). The applicable interest rate under the TLTRO III-refinancing program can further reduce by “new lending discounts” that apply if certain net lending thresholds are met. Accordingly, banks whose eligible net lending exceeds 0 % between March 1, 2020 and March 31, 2021 pay a rate 0.5 % lower than the average deposit facility rate for borrowings between June 24, 2020 and June 23, 2021. The interest rate outside of the period from June 24, 2020 to June 23, 2021 will be the average interest rate on the deposit facility (currently (0.5) %) with exception of the period from June 24, 2021 to June 23, 2022 when banks pay a rate 0.5 % lower than the average deposit facility rate for borrowings provided their eligible net lending exceeds 0 % between October 1, 2020 and December 31, 2021. The Group accounts for the base rate discount and the new lending discounts as government grant under IAS 20. The income from the government grant is presented in net interest income. The Group recognizes the benefit from the TLTRO III refinancing program in the period in which the grant is intended to compensate the Group for the related borrowing costs if it has established reasonable assurance that it will meet the relevant lending thresholds. As of June 30, 2021 the Group met the requirements for recognition of the base rate discount and the new lending discount for the period from June 24, 2020 to June 23, 2021. The Group applies an all-in rate of (1) % which, for the six-month periods ended June 30, 2021, resulted in interest income recognition of € 282 million € 40.8 billion Goodwill and other intangible assets Goodwill, indefinite and definite life intangible assets are tested for impairment annually in the fourth quarter or more frequently if there are indications that the carrying value may be impaired. Goodwill is tested for impairment purposes on cash-generating unit (CGU) level. Definite life intangible assets are generally tested on CGU level as they do not generate cash inflows that are largely independent of those from other assets. Indefinite life intangible assets are tested at the individual asset level. As of June 30, 2021, an assessment was performed to evaluate if there is an indication that impairment existed at that date. This assessment did not result in any indication of impairment of the Group’s goodwill or the indefinite life intangible asset related to retail investment management agreements (shown under unamortized intangible assets). As part of the assessment, the assumptions and their sensitivities of the annual goodwill impairment test were reviewed and did not indicate an impairment. In addition, the assessment included review of the main input parameters for the retail investment management agreement intangible valuation, and their sensitivities, and did not indicate an impairment either. |
Management Report - Segment Res
Management Report - Segment Results of Operations | 6 Months Ended |
Jun. 30, 2021 | |
Segment Results of Operations [Abstract] | |
Disclosure of Segment Results of Operations [text block] | Segment results Three months ended Jun 30, 2021 in € m. Corporate Investment Private Asset Capital Corporate & Total Net revenues 1,230 2,394 2,018 626 (24) (2) 6,243 Provision for credit losses (20) 2 117 1 (25) (1) 75 Noninterest expenses: Compensation and benefits 271 491 682 202 35 870 2,551 General and administrative expenses 729 844 1,162 192 223 (789) 2,361 Impairment of goodwill and other intangible assets 0 0 0 0 0 0 0 Restructuring activities 5 11 69 1 1 (0) 86 Total noninterest expenses 1,004 1,346 1,913 395 259 81 4,998 Noncontrolling interests 0 (2) 0 49 0 (47) 0 Profit (loss) before tax 246 1,047 (11) 180 (258) (34) 1,170 N/M – Not meaningful Three months ended Jun 30, 2020 in € m. Corporate Investment Private Asset Capital Corporate & Total Net revenues 1,341 2,676 1,960 549 (66) (118) 6,342 Provision for credit losses 144 364 225 (1) 29 1 761 Noninterest expenses: Compensation and benefits 260 464 728 204 45 944 2,645 General and administrative expenses 859 852 1,160 189 451 (912) 2,599 Impairment of goodwill and other intangible assets 0 0 0 0 0 0 0 Restructuring activities 0 11 104 7 (0) 1 123 Total noninterest expenses 1,120 1,327 1,992 400 496 34 5,367 Noncontrolling interests 0 6 (0) 36 (0) (42) 0 Profit (loss) before tax 78 979 (257) 114 (591) (110) 213 N/M – Not meaningful Prior year segmental information presented in the current structure Six months ended Jun 30, 2021 in € m. Corporate Investment Private Asset Capital Corporate & Total Net revenues 2,544 5,491 4,196 1,263 57 241 13,792 Provision for credit losses (40) 3 215 1 (32) (3) 144 Noninterest expenses: Compensation and benefits 545 982 1,401 418 75 1,762 5,183 General and administrative expenses 1,547 1,958 2,246 380 681 (1,524) 5,287 Impairment of goodwill and other intangible assets 0 0 0 0 0 0 0 Restructuring activities 17 12 71 2 1 (0) 102 Total noninterest expenses 2,109 2,951 3,718 800 757 237 10,572 Noncontrolling interests 0 (1) 0 98 0 (97) 0 Profit (loss) before tax 475 2,538 263 364 (668) 103 3,075 N/M – Not meaningful Six months ended Jun 30, 2020 in € m. Corporate Investment Private Asset Capital Corporate & Total Net revenues 2,666 5,030 4,127 1,068 (123) (207) 12,560 Provision for credit losses 250 607 364 (0) 43 5 1,267 Noninterest expenses: Compensation and benefits 541 959 1,467 376 97 1,894 5,334 General and administrative expenses 1,671 1,828 2,244 386 1,092 (1,749) 5,474 Impairment of goodwill and other intangible assets 0 0 0 0 0 0 0 Restructuring activities 5 15 166 10 1 0 197 Total noninterest expenses 2,217 2,802 3,877 774 1,190 145 11,006 Noncontrolling interests 0 5 (0) 70 (0) (75) 0 Profit (loss) before tax 199 1,616 (114) 224 (1,356) (282) 287 N/M – Not meaningful Prior year segmental information presented in the current structure Corporate Bank (CB) Three months ended Six months ended in € m. Jun 30, 2021 Jun 30, 2020 Absolute Change Jun 30, 2021 Jun 30, 2020 Absolute Change Net revenues: Corporate Treasury Services 728 813 (85) (10) 1,524 1,613 (89) (6) Institutional Client Services 322 336 (14) (4) 650 672 (22) (3) Business Banking 180 193 (13) (7) 370 381 (11) (3) Total net revenues 1,230 1,341 (111) (8) 2,544 2,666 (122) (5) Of which: Net interest income 543 822 (279) (34) 1,250 1,525 (275) (18) Commissions and fee income 534 512 22 4 1,081 1,043 38 4 Remaining income 153 8 146 N/M 213 98 114 116 Provision for credit losses (20) 144 (163) N/M (40) 250 (290) N/M Noninterest expenses: Compensation and benefits 271 260 11 4 545 541 4 1 General and administrative expenses 729 859 (130) (15) 1,547 1,671 (124) (7) Impairment of goodwill and other intangible assets 0 0 0 N/M 0 0 0 N/M Restructuring activities 5 0 4 N/M 17 5 12 N/M Total noninterest expenses 1,004 1,120 (115) (10) 2,109 2,217 (109) (5) Noncontrolling interests 0 0 0 N/M 0 0 0 N/M Profit (loss) before tax 246 78 168 N/M 475 199 276 139 Total assets (in € bn) 1 245 241 5 2 245 241 5 2 Loans (gross of allowance for loan losses, in € bn) 1 116 120 (4) (3) 116 120 (4) (3) Employees (front office full-time equivalent) 1 7,524 7,860 (336) (4) 7,524 7,860 (336) (4) N/M – Not meaningful Prior year segmental information presented in the current structure 1 As of quarter-end. Investment Bank (IB) Three months ended Six months ended in € m. Jun 30, 2021 Jun 30, 2020 Absolute Change Jun 30, 2021 Jun 30, 2020 Absolute Change Net revenues: Fixed Income, Currency (FIC) Sales & Trading 1,811 2,030 (220) (11) 4,280 3,884 396 10 Debt Origination 399 450 (51) (11) 785 811 (26) (3) Equity Origination 115 118 (4) (3) 313 136 177 131 Advisory 111 42 69 166 181 104 77 74 Origination & Advisory 624 610 14 2 1,279 1,051 228 22 Other (41) 36 (77) N/M (68) 95 (163) N/M Total net revenues 2,394 2,676 (283) (11) 5,491 5,030 461 9 Provision for credit losses 2 364 (362) (99) 3 607 (604) (100) Noninterest expenses: Compensation and benefits 491 464 26 6 982 959 23 2 General and administrative expenses 844 852 (7) (1) 1,958 1,828 129 7 Impairment of goodwill and other intangible assets 0 0 0 N/M 0 0 0 N/M Restructuring activities 11 11 0 1 12 15 (3) (19) Total noninterest expenses 1,346 1,327 19 1 2,951 2,802 150 5 Noncontrolling interests (2) 6 (8) N/M (1) 5 (6) N/M Profit (loss) before tax 1,047 979 68 7 2,538 1,616 921 57 Total assets (in € bn) 1 586 594 (8) (1) 586 594 (8) (1) Loans (gross of allowance for loan losses, in € bn) 1 75 80 (5) (6) 75 80 (5) (6) Employees (front office full-time equivalent) 1 4,212 4,270 (58) (1) 4,212 4,270 (58) (1) N/M – Not meaningful Prior year segmental information presented in the current structure Commencing from the second quarter of 2021, Investment Bank presents CLO recovery gains and losses in its revenue category “Other”. Previously these gains and losses were presented in “FIC Sales & Trading” and “Origination & Advisory”. Prior period data has been reclassified 1 As of quarter-end. Private Bank (PB) Three months ended Six months ended in € m. Jun 30, 2021 Jun 30, 2020 Absolute Change Jun 30, 2021 Jun 30, 2020 Absolute Change Net revenues: Private Bank Germany 1,198 1,210 (12) (1) 2,545 2,542 3 0 International Private Bank 820 750 70 9 1,651 1,585 66 4 IPB Personal Banking 1 213 187 26 14 442 407 35 9 Private Banking 2 607 563 44 8 1,209 1,178 31 3 Total net revenues 2,018 1,960 59 3 4,196 4,127 69 2 Of which: Net interest income 1,147 1,129 19 2 2,319 2,319 0 0 Commissions and fee income 737 679 58 9 1,626 1,525 101 7 Remaining income 134 152 (18) (12) 251 283 (32) (11) Provision for credit losses 117 225 (108) (48) 215 364 (149) (41) Noninterest expenses: Compensation and benefits 682 728 (46) (6) 1,401 1,467 (66) (4) General and administrative expenses 1,162 1,160 3 0 2,246 2,244 2 0 Impairment of goodwill and other intangible assets 0 0 0 N/M 0 0 0 N/M Restructuring activities 69 104 (36) (34) 71 166 (95) (57) Total noninterest expenses 1,913 1,992 (79) (4) 3,718 3,877 (159) (4) Noncontrolling interests 0 (0) 0 N/M 0 (0) 0 N/M Profit (loss) before tax (11) (257) 246 (96) 263 (114) 377 N/M Total assets (in € bn) 3 305 284 21 7 305 284 21 7 Loans (gross of allowance for loan losses, in € bn) 3 247 230 17 7 247 230 17 7 Assets under Management (in € bn) 3 535 471 64 14 535 471 64 14 Net flows (in € bn) 10 6 4 65 20 7 14 N/M Employees (front office full-time equivalent) 3 29,153 30,967 (1,815) (6) 29,153 30,967 (1,815) (6) N/M – Not meaningful Prior year segmental information presented in the current structure 1 Including small businesses in Italy, Spain and India. 2 Including small & mid caps in Italy, Spain and India. 3 As of quarter-end. Asset Management (AM) Three months ended Six months ended in € m. Jun 30, 2021 Jun 30, 2020 Absolute Change Jun 30, 2021 Jun 30, 2020 Absolute Change Net revenues: Management Fees 584 508 76 15 1,131 1,061 71 7 Performance and transaction fees 19 20 (1) (7) 58 37 21 56 Other 23 21 2 9 73 (30) 103 N/M Total net revenues 626 549 77 14 1,263 1,068 195 18 Provision for credit losses 1 (1) 2 N/M 1 (0) 1 N/M Noninterest expenses: Compensation and benefits 202 204 (1) (1) 418 376 42 11 General and administrative expenses 192 189 2 1 380 386 (6) (2) Impairment of goodwill and other intangible assets 0 0 0 N/M 0 0 (0) N/M Restructuring activities 1 7 (6) (88) 2 10 (9) (82) Total noninterest expenses 395 400 (5) (1) 800 774 27 3 Noncontrolling interests 49 36 13 37 98 70 27 39 Profit (loss) before tax 180 114 67 59 364 224 140 62 Total assets (in € bn) 1 10 10 0 3 10 10 0 3 Assets under Management (in € bn) 1 859 745 114 15 859 745 114 15 Net flows (in € bn) 20 9 11 127 21 6 14 N/M Employees (front office full-time equivalent) 1 3,953 3,901 52 1 3,953 3,901 52 1 N/M – Not meaningful Prior year segmental information presented in the current structure 1 As of quarter-end. Capital Release Unit (CRU) Three months ended Six months ended in € m. Jun 30, 2021 Jun 30, 2020 Absolute Change Jun 30, 2021 Jun 30, 2020 Absolute Change Net revenues (24) (66) 43 (64) 57 (123) 180 N/M Provision for credit losses (25) 29 (54) N/M (32) 43 (75) N/M Noninterest expenses: Compensation and benefits 35 45 (10) (21) 75 97 (22) (23) General and administrative expenses 223 451 (228) (51) 681 1,092 (412) (38) Impairment of goodwill and other intangible assets 0 0 0 N/M 0 0 0 N/M Restructuring activities 1 (0) 1 N/M 1 1 0 38 Total noninterest expenses 259 496 (237) (48) 757 1,190 (433) (36) Noncontrolling interests 0 (0) 0 N/M 0 (0) 0 N/M Profit (loss) before tax (258) (591) 334 (56) (668) (1,356) 689 (51) Total assets (in € bn) 1 167 265 (98) (37) 167 265 (98) (37) Employees (front office full-time equivalent) 1 420 536 (116) (22) 420 536 (116) (22) N/M – Not meaningful Prior year segmental information presented in the current structure 1 As of quarter-end. Corporate & Other (C&O) Three months ended Six months ended in € m. Jun 30, 2021 Jun 30, 2020 Absolute Change Jun 30, 2021 Jun 30, 2020 Absolute Change Net revenues (2) (118) 116 (99) 241 (207) 448 N/M Provision for credit losses (1) 1 (2) N/M (3) 5 (7) N/M Noninterest expenses: Compensation and benefits 870 944 (74) (8) 1,762 1,894 (133) (7) General and administrative expenses (789) (912) 122 (13) (1,524) (1,749) 224 (13) Impairment of goodwill and other intangible assets 0 0 0 N/M 0 0 0 N/M Restructuring activities (0) 1 (1) N/M (0) 0 (0) N/M Total noninterest expenses 81 34 47 140 237 145 92 63 Noncontrolling interests (47) (42) (5) 12 (97) (75) (21) 28 Profit (loss) before tax (34) (110) 76 (69) 103 (282) 385 N/M Employees (full-time equivalent) 1 38,535 39,289 (754) (2) 38,535 39,289 (754) (2) N/M – Not meaningful Prior year segmental information presented in the current structure 1 As of quarter-end. |
Net Interest Income and Net Gai
Net Interest Income and Net Gains (Losses) on Financial Assets/Liabilities at Fair Value through Profit or Loss | 6 Months Ended |
Jun. 30, 2021 | |
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 Three months ended Six months ended in € m. Jun 30, 2021 Jun 30, 2020 Jun 30, 2021 Jun 30, 2020 Net interest income 1 2,652 3,096 5,448 6,357 Trading income 1,2 820 1,030 2,281 792 Net gains (losses) on non-trading financial assets mandatory at fair value through profit or loss 175 143 202 64 Net gains (losses) on financial assets/liabilities designated at fair value through profit or loss (12) (466) 101 83 Total net gains (losses) on financial assets/liabilities at fair value through profit or loss 983 708 2,584 939 Total net interest income and net gains (losses) on financial assets/liabilities 3,635 3,803 8,033 7,296 Corporate Treasury Services 366 593 859 1,114 Institutional Client Services 78 84 167 183 Business Banking 131 141 270 272 Corporate Bank 575 818 1,297 1,569 FIC Sales & Trading 1,775 2,392 4,153 3,768 Remaining Products (7) 57 (39) 124 Investment Bank 1,768 2,449 4,114 3,892 Private Bank 1,208 1,137 2,487 2,374 Asset Management 56 25 135 (160) Capital Release Unit (18) (154) 51 41 Corporate & Other 45 (471) (51) (419) Total net interest income and net gains (losses) on financial assets/liabilities 3,635 3,803 8,033 7,296 1 Prior year segmental information has been reclassified to the current structure. 2 Trading income includes gains and losses from derivatives not qualifying for hedge accounting. Net interest income for the three months ended June 30, 2021 and June 30, 2020 included € 0 million € 16 million € 0 million € 32 million In addition, net interest income for three months ended June 30, 2021 and for six months ended June 30, 2021 included € 103 million € 282 million Interest and similar income included negative interest expense of € 255 million € 159 million € 605 million € 260 million In addition, interest expense included negative interest income of € 171 million € 131 million € 402 million € 253 million . |
Commission and Fee Income
Commission and Fee Income | 6 Months Ended |
Jun. 30, 2021 | |
Commissions and Fee Income [Abstract] | |
Disclosure of fee and commission income (expense) [text block] | Commissions and fee income Disaggregation of revenues by product type and business segment Three months ended Jun 30, 2021 in € m. Corporate Investment Private Asset Capital Corporate & Total Major type of services: Commissions for administration 59 10 65 6 1 (1) 141 Commissions for assets under management 4 0 88 844 (0) 0 936 Commissions for other securities 106 0 10 0 0 0 117 Underwriting and advisory fees 9 566 3 0 0 (15) 564 Brokerage fees 5 66 318 22 25 1 437 Commissions for local payments 112 1 151 0 0 3 267 Commissions for foreign commercial business 111 6 25 0 0 (1) 142 Commissions for foreign currency/exchange business 2 0 1 0 0 (0) 3 Commissions for loan processing and guarantees 135 79 74 0 2 0 290 Intermediary fees 2 (1) 191 0 0 2 194 Fees for sundry other customer services 62 128 12 27 (0) 1 230 Total fee and commissions income 608 855 940 899 27 (8) 3,321 Gross expense (747) Net fees and commissions 2,574 . Three months ended Jun 30, 2020 in € m. Corporate Investment Private Asset Capital Corporate & Total Major type of services: Commissions for administration 63 4 57 6 0 (1) 129 Commissions for assets under management 5 0 79 734 0 0 818 Commissions for other securities 110 (0) 8 0 0 0 117 Underwriting and advisory fees 5 418 3 0 0 (14) 413 Brokerage fees 2 60 256 20 31 5 375 Commissions for local payments 105 (2) 220 (0) 0 (1) 322 Commissions for foreign commercial business 99 6 26 0 0 (1) 130 Commissions for foreign currency/exchange business 1 0 2 0 0 (0) 2 Commissions for loan processing and guarantees 126 43 71 0 3 1 244 Intermediary fees 2 0 188 0 0 2 193 Fees for sundry other customer services 62 69 12 29 1 0 173 Total fee and commissions income 580 598 922 788 36 (6) 2,917 Gross expense (690) Net fees and commissions 2,227 Six months ended Jun 30, 2021 in € m. Corporate Investment Private Asset Capital Corporate & Total Major type of services: Commissions for administration 120 23 128 11 2 (2) 283 Commissions for assets under management 8 0 176 1,660 (0) 0 1,844 Commissions for other securities 201 (0) 21 1 0 0 222 Underwriting and advisory fees 21 1,151 9 0 (0) (30) 1,151 Brokerage fees 12 129 715 40 58 (0) 954 Commissions for local payments 221 2 385 0 0 4 612 Commissions for foreign commercial business 221 11 50 0 0 (1) 280 Commissions for foreign currency/exchange business 4 0 3 0 0 (0) 6 Commissions for loan processing and guarantees 275 130 151 0 3 2 560 Intermediary fees 7 1 387 0 0 6 402 Fees for sundry other customer services 134 242 23 59 2 2 461 Total fee and commissions income 1,223 1,689 2,046 1,771 65 (19) 6,776 Gross expense (1,463) Net fees and commissions 5,313 Six months ended Jun 30, 2020 in € m. Corporate Investment 1 Private Asset Capital Corporate & Total Major type of services: Commissions for administration 124 6 116 12 0 (1) 257 Commissions for assets under management 10 1 159 1,518 (0) 0 1,688 Commissions for other securities 185 0 16 0 0 0 202 Underwriting and advisory fees 15 859 8 0 (0) (15) 866 Brokerage fees 8 143 615 38 70 2 876 Commissions for local payments 227 0 475 (0) 0 (0) 701 Commissions for foreign commercial business 203 13 52 0 0 (1) 267 Commissions for foreign currency/exchange business 2 0 4 0 0 (0) 6 Commissions for loan processing and guarantees 247 94 153 0 5 3 501 Intermediary fees 7 1 313 0 0 7 328 Fees for sundry other customer services 138 131 21 61 3 0 353 Total fee and commissions income 1,166 1,247 1,932 1,629 78 (5) 6,046 Gross expense (1,380) Net fees and commissions 4,666 As of June 30, 2021 and June 30, 2020 the Group’s balance of receivables from commission and fee income was € 914 million € 964 million € 65 million € 69 million |
Gains and losses on derecogniti
Gains and losses on derecognition of Financial Assets measured at Amortized Cost | 6 Months Ended |
Jun. 30, 2021 | |
Gain and Losses on derecognition of Financial Assets at Amortized Cost [Abstract] | |
Disclosure - Gain and Losses on derecognition of Financial Assets at Amortized costs [text block] | Gains and losses on derecognition of financial assets measured at amortized cost For the six months ended June 30, 2021, the Group sold financial assets measured at amortized cost of € 42 million € 6,432 million The table below presents the gains and (losses) arising from derecognition of these securities. Three months ended Six months ended in € m. Jun 30, 2021 Jun 30, 2020 Jun 30, 2021 Jun 30, 2020 Gains 0 174 0 235 Losses 0 (3) 0 (3) Net gains (losses) from derecognition of securities measured at amortized cost 0 171 0 232 |
Restructuring
Restructuring | 6 Months Ended |
Jun. 30, 2021 | |
Restructuring [Abstract] | |
Disclosure of Restructuring [text block] | Restructuring Restructuring is primarily driven by the implementation of the Group’s strategic changes as announced in the third quarter 2019. We have defined and are in the process of implementing measures that aim to strengthen the bank, position it for growth and simplify its organizational set-up. The measures also aim 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. Net restructuring expense by division Three months ended Six months ended in € m. Jun 30, 2021 Jun 30, 2020 Jun 30, 2021 Jun 30, 2020 Corporate Bank 5 0 17 5 Investment Bank 11 11 12 15 Private Bank 69 104 71 166 Asset Management 1 7 2 10 Capital Release Unit 1 (0) 1 1 Corporate & Other (0) 1 (0) 0 Total Net Restructuring Charges 86 123 102 197 Net restructuring expense by type Three months ended Six months ended in € m. Jun 30, 2021 Jun 30, 2020 Jun 30, 2021 Jun 30, 2020 Restructuring – Staff related 65 127 83 201 Of which: Termination Payments 63 106 81 180 Retention Acceleration 2 20 2 20 Social Security (0) 1 (0) 1 Restructuring – Non Staff related 1 20 (4) 19 (4) Total net restructuring Charges 86 123 102 197 1 Contract costs, mainly related to real estate and technology. Provisions for restructuring amounted to € 666 million € 676 million During the six months ended June 30, 2021, 275 full-time equivalent staff were reduced as part of our restructuring program. These reductions were identified within: Full-time equivalent staff Three months ended Six months ended Corporate Bank 16 31 Investment Bank 0 10 Private Bank 70 165 Asset Management 1 11 Capital Release Unit 2 5 Infrastructure 18 53 Total full-time equivalent staff 106 275 |
Effective Tax Rate
Effective Tax Rate | 6 Months Ended |
Jun. 30, 2021 | |
Effective Tax Rate [Abstract] | |
Disclosure of effective tax rate [text block] | Effective tax rate 2021 to 2020 three months comparison Income tax expense in the current quarter was € 333 million (second quarter of 2020: € 129 million) and includes a tax benefit of € 20 million 28 % 61 % 2021 to 2020 six months comparison Income tax expense in the first six months of 2021 was € 995 million (first six months of 2020: € 207 million). The effective tax rate was 32 % 72 % |
Financial Instruments carried a
Financial Instruments carried at Fair Value | 6 Months Ended |
Jun. 30, 2021 | |
Financial Instruments carried at Fair Value [Abstract] | |
Disclosure of fair value of financial instruments [text block] | Financial instruments carried at fair value 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 placements; many commercial real estate (CRE) loans; illiquid loans; and some municipal bonds. Carrying value of the financial instruments held at fair value 1 Jun 30, 2021 Dec 31, 2020 in € m. Quoted Valuation Valuation Quoted Valuation Valuation Financial assets held at fair value: Trading assets 46,609 57,694 7,817 44,525 55,220 8,183 Trading securities 46,449 52,616 3,666 44,349 50,340 3,066 Other trading assets 160 5,077 4,152 176 4,880 5,117 Positive market values from derivative financial instruments 3,938 261,434 8,518 4,208 330,561 8,725 Non-trading financial assets mandatory at fair value through profit or loss 1,889 77,176 4,347 2,992 68,511 4,618 Financial assets designated at fair value through profit or loss 0 84 6 0 436 0 Financial assets at fair value through other comprehensive income 14,639 20,295 2,252 28,057 25,741 2,037 Other financial assets at fair value 72 6,069 2 4 93 9,238 2 20 Total financial assets held at fair value 67,147 422,752 22,943 79,875 489,707 23,583 Financial liabilities held at fair value: Trading liabilities 45,181 10,864 76 36,699 7,615 2 Trading securities 45,145 10,427 18 36,674 7,206 2 Other trading liabilities 35 437 58 25 409 0 Negative market values from derivative financial instruments 4,756 250,879 8,930 4,430 315,145 8,200 Financial liabilities designated at fair value through profit or loss 0 52,043 878 0 45,622 960 Investment contract liabilities 0 560 0 0 526 0 Other financial liabilities at fair value 16 3,814 2 (168) 3 799 3,573 2 (294) 3 Total financial liabilities held at fair value 49,952 318,160 9,717 41,929 372,480 8,867 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” of the Annual Report 2020. 2 Predominantly relates to derivatives qualifying for hedge accounting. 3 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. During the first quarter of 2021, the Group implemented a refinement to its levelling methodology with the effect that for certain trades where trade date profit was deferred, the fair value hierarchy classification is now based on current conditions rather than conditions that existed at the trade date. The impact of these changes was a movement from Level 3 to Level 2 of approximately € 1 billion € 200 million Until June 30, 2021 there were transfers from Level 2 to Level 1 on trading securities ( € 6 billion € 8 billion € 3 billion Valuation techniques The Group has an established valuation control framework which governs internal control standards, methodologies, valuation techniques and procedures over the valuation process and fair value measurement. 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 modeling 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 incorporating available observable inputs. The industry standard external 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 CDS 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, consensus pricing services 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 Some of the instruments 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 as gross assets and liabilities. 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 increase in the period is mainly due to purchases, gains and net transfers between Level 2 and Level 3 due to changes in the observability of input parameters used to value these instruments partially offset by sales and settlements. 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 include 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 decrease in assets during the period are driven by losses and settlements partially offset by net transfers between Level 2 and Level 3 due to changes in the observability of input parameters used to value these instruments and the increase in liabilities during the period are driven by net transfers between Level 2 and Level 3 due to changes in the observability of input parameters used to value these instruments partially offset by gains and 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 loans. The decrease in the period refers to sales and settlements partially offset by purchases, gains, issuances and net transfers between Level 2 and Level 3 due to changes in the observability of input parameters used to value these instruments. Non trading financial assets mandatory at fair value through profit or loss classified in Level 3 of fair value hierarchy consist of financial instruments included in other business model originated, acquired principally for the purpose of selling or repurchasing them in near future and unlisted equity instruments where there is no close proxy and the market is very illiquid. Additionally this classification includes any instrument for which the contractual cash flow characteristics are not SPPI. The decrease in the period is driven by sales, settlements and net transfers between Level 2 and Level 3 due to changes in the observability of input parameters used to value these instruments partially offset by purchases, issuances and gains. 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 are 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. The increase in assets during the period is driven by issuances. The decrease in liabilities during the period is driven by settlements partially offset by net transfers between Level 2 and Level 3 due to changes in the observability of input parameters used to value these instruments, issuances and gains. Financial assets at fair value through other comprehensive income include non-performing loan portfolios where there is no trading intent and the market is very illiquid. 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 partially offset by sales and settlements. Reconciliation of financial instruments classified in Level 3 Jun 30, 2021 in € m. Balance, Changes Total 1 Purchases Sales Issu- 2 Settle- 3 Transfers 4 Transfers 4 Balance, Financial assets Trading securities 3,066 0 394 1,709 (1,476) 0 (80) 663 (611) 3,666 Positive market 8,725 0 (275) 0 0 0 (465) 2,951 (2,418) 8,518 Other trading 5,117 0 114 497 (1,439) 390 (592) 542 (477) 4,152 Non-trading financial assets mandatory at fair value through profit or loss 4,618 0 229 218 (184) 132 (207) 47 (506) 4,347 Financial assets 0 0 0 0 0 5 0 0 0 6 Financial assets at fair value through other comprehensive income 2,037 0 37 5 43 (22) 338 (236) 274 (220) 2,252 Other financial 20 0 (2) 0 0 0 0 3 (17) 4 Total financial assets 23,583 0 496 6,7 2,468 (3,120) 865 (1,580) 4,479 (4,248) 22,943 Financial liabilities Trading securities 2 0 0 0 0 0 (2) 18 (0) 18 Negative market 8,200 0 (656) 0 0 0 (166) 3,016 (1,464) 8,930 Other trading 0 0 (6) 0 0 0 0 64 0 58 Financial liabilities 960 0 (12) 0 0 45 (202) 180 (93) 878 Other financial (294) 0 95 0 0 0 (8) 2 37 (168) Total financial 8,867 0 (579) 6,7 0 0 45 (378) 3,281 (1,520) 9,717 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 at fair value through other comprehensive income reported in the consolidated statement of income and unrealized net gains (losses) on financial assets at fair value through other comprehensive income 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 period 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 period 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 mandatory at fair value through OCI include a gain of € 7 million 6 This amount includes the effect of exchange rate changes. For total financial assets held at fair value this effect is a gain of € 168 million € 16 million 7 For assets, positive balances represent gains, negative balances represent losses. For liabilities, positive balances represent losses, negative balances represent gains. Jun 30, 2020 in € m. Balance, Changes in Total 1 Purchases Sales Issu- 2 Settle- 3 Transfers 4 Transfers 4 Balance, Financial assets Trading securities 3,430 0 (72) 1,101 (1,477) 0 (135) 610 (421) 3,035 Positive market 8,167 0 1,965 0 0 0 (307) 1,651 (1,560) 9,915 Other trading 6,137 0 (312) 490 (1,143) 919 (515) 660 (232) 6,004 Non-trading financial assets mandatory at fair value through profit or loss 5,278 0 (38) 161 (181) 199 (426) 667 (787) 4,872 Financial assets 7 0 0 0 0 0 0 0 (6) 1 Financial assets at fair value through other comprehensive income 1,050 0 (19) 5 292 0 0 (99) 333 (246) 1,311 Other financial 363 0 1 0 0 0 (1) 79 (194) 249 Total financial assets 24,431 0 1,525 6,7 2,044 (2,801) 1,118 (1,483) 4,000 (3,447) 25,387 Financial liabilities Trading securities 2 0 (0) 0 0 0 (0) 0 (2) 0 Negative market 6,652 0 1,521 0 0 0 3 1,273 (1,318) 8,131 Other trading 38 0 (1) 0 0 0 (9) 0 (28) 0 Financial liabilities 1,954 0 (40) 0 0 146 (509) 180 (208) 1,522 Other financial (34) 0 (221) 0 0 0 (1) 8 (44) (292) Total financial 8,612 0 1,259 6,7 0 0 146 (516) 1,462 (1,601) 9,361 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 at fair value through other comprehensive income reported in the consolidated statement of income and unrealized net gains (losses) on financial assets at fair value through other comprehensive income 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 period 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 period 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 mandatory at fair value through OCI include a loss of € 14 million 6 This amount includes the effect of exchange rate changes. For total financial assets held at fair value this effect is a loss of € 119 million € 12 million 7 For assets, positive balances represent gains, negative balances represent losses. For liabilities, positive balances represent losses, negative balances represent gains. Sensitivity analysis of unobservable parameters Where the value of financial instruments is dependent on unobservable parameter inputs, the precise level for these parameters at the balance sheet date might be drawn from a range of reasonably possible alternatives. In preparing the financial statements, appropriate levels for these unobservable input parameters are chosen so that they are consistent with prevailing market evidence and in line with the Group’s approach to valuation control detailed above. Were the Group to have marked the financial instruments concerned using parameter values drawn from the extremes of the ranges of reasonably possible alternatives, as of June 30, 2021 it could have increased fair value by as much as € 1.8 billion or decreased fair value by as much as € 1.3 billion. As of December 31, 2020 it could have increased fair value by as much as € 1.8 billion or decreased fair value by as much as € 1.4 billion. The changes in sensitive amounts from December 31, 2020 to June 30, 2021 were a reduction in positive fair value movement of € 63 million € 27 million € 23.6 billion € 22.9 billion The change in positive fair value movements from December 31, 2020 to June 30, 2021 represents a 3 % reduction and the change in negative fair value movements represents a 2 % reduction. These decreases are aligned with the 3 % reduction in Group Level 3 Assets. Our sensitivity calculation of unobservable parameters for Level 3 aligns to the approach used to assess valuation uncertainty for Prudent Valuation purposes. Prudent Valuation is a capital requirement for assets held at fair value. It provides a mechanism for quantifying and capitalizing valuation uncertainty in accordance with the European Commission Delegated Regulation (EU) 2016/101, which supplements Article 34 of Regulation (EU) No. 2019/876 (CRR), requiring institutions to apply a deduction from CET 1 the amount of any additional value adjustments on all assets measured at fair value calculated in accordance with Article 105(14). This utilizes exit price analysis performed for the relevant assets and liabilities in the Prudent Valuation assessment. This disclosure is intended to illustrate the potential impact of the relative uncertainty in the fair value of financial instruments for which valuation is dependent on unobservable input parameters. However, it is unlikely in practice that all unobservable parameters would be simultaneously at the extremes of their ranges of reasonably possible alternatives. For many of the financial instruments considered here, in particular derivatives, unobservable input parameters represent only a subset of the parameters required to price the financial instrument, the remainder being observable. Hence for these instruments the overall impact of moving the unobservable input parameters to the extremes of their ranges might be relatively small compared with the total fair value of the financial instrument. For other instruments, fair value is determined based on the price of the entire instrument, for example, by adjusting the fair value of a reasonable proxy instrument. In addition, all financial instruments are already carried at fair values which are inclusive of valuation adjustments for the cost to close out that instrument and hence already factor in uncertainty as it reflects itself in market pricing. Any negative impact of uncertainty calculated within this disclosure, then, will be over and above that already included in the fair value contained in the financial statements. Breakdown of the sensitivity analysis by type of instrument 1 Jun 30, 2021 Dec 31, 2020 in € m. Positive fair value Negative fair value Positive fair value Negative fair value Securities: Debt securities 435 326 287 201 2 Commercial mortgage-backed securities 12 21 9 22 Mortgage and other asset-backed securities 9 7 20 12 Corporate, sovereign and other debt securities 414 297 259 167 2 Equity securities 77 59 83 57 2 Derivatives: Credit 157 115 283 185 Equity 219 203 257 238 Interest related 307 269 306 266 Foreign exchange 35 30 37 32 Other 109 91 93 82 Loans: Loans 426 247 483 306 Other 0 0 0 0 Total 1,766 1,340 1,829 1,367 1 Where the exposure to an unobservable parameter is offset across different instruments then only the net impact is disclosed in the table. 2 Reassessment of trades have resulted a reclassification in Negative fair value movement from using reasonable possible alternatives in ‘Corporate, sovereign and other debt securities’ from ‘Equity securities’ Quantitative information about the sensitivity of significant unobservable The behavior of the unobservable parameters on Level 3 fair value measurement is not necessarily independent, and dynamic relationships often exist between the other unobservable parameters and the observable parameters. Such relationships, where material to the fair value of a given instrument, are explicitly captured via correlation parameters, or are otherwise controlled via pricing models or valuation techniques. Frequently, where a valuation technique utilizes more than one input, the choice of a certain input will bound the range of possible values for other inputs. In addition, broader market factors (such as interest rates, equity, credit or commodity indices or foreign exchange rates) can also have effects. The range of values shown below represents the highest and lowest inputs used to value the significant exposures within Level 3. The diversity of financial instruments that make up the disclosure is significant and therefore the ranges of certain parameters can be large. For example, the range of credit spreads on mortgage backed securities represents performing, more liquid positions with lower spreads than the less liquid, non-performing positions which will have higher credit spreads. As Level 3 contains the less liquid fair value instruments, the wide ranges of parameters seen is to be expected, as there is a high degree of pricing differentiation within each exposure type to capture the relevant market dynamics. There follows a brief description of each of the principle parameter types, along with a commentary on significant interrelationships between them. Credit Parameters are used to assess the creditworthiness of an exposure, by enabling the probability of default and resulting losses of a default to be represented. The credit spread is the primary reflection of creditworthiness and represents the premium or yield return above the benchmark reference instrument (typically LIBOR, or relevant Treasury Instrument, depending upon the asset being assessed), that a bond holder would require to allow for the credit quality difference between that entity and the reference benchmark. Higher credit spreads will indicate lower credit quality, and lead to a lower value for a given bond, or other loan-asset that is to be repaid to the Bank by the borrower. Recovery Rates represent an estimate of the amount a lender would receive in the case of a default of a loan, or a bond holder would receive in the case of default of the bond. Higher recovery rates will give a higher valuation for a given bond position, if other parameters are held constant. Constant Default Rate (CDR) and Constant Prepayment Rate (CPR) allow more complex loan and debt assets to be assessed, as these parameters estimate the ongoing defaults arising on scheduled repayments and coupons, or whether the borrower is making additional (usually voluntary) prepayments. These parameters are particularly relevant when forming a fair value opinion for mortgage or other types of lending, where repayments are delivered by the borrower through time, or where the borrower may pre-pay the loan (seen for example in some residential mortgages). Higher CDR will lead to lower valuation of a given loan or mortgage as the lender will ultimately receive less cash. Interest rates, credit spreads, inflation rates, foreign exchange rates and equity prices are referenced in some option instruments, or other complex derivatives, where the payoff a holder of the derivative will receive is dependent upon the behavior of these underlying references through time. Volatility parameters describe key attributes of option behavior by enabling the variability of returns of the underlying instrument to be assessed. This volatility is a measure of probability, with higher volatilities denoting higher probabilities of a particular outcome occurring. The underlying references (interest rates, credit spreads etc.) have an effect on the valuation of options, by describing the size of the return that can be expected from the option. Therefore the value of a given option is dependent upon the value of the underlying instrument, and the volatility of that instrument, representing the size of the payoff, and the probability of that payoff occurring. Where volatilities are high, the option holder will see a higher option value as there is greater probability of positive returns. A higher option value will also occur where the payoff described by the option is significant. Correlations are used to describe influential relationships between underlying references where a derivative or other instrument has more than one underlying reference. Behind some of these relationships, for example commodity correlation and interest rate-foreign exchange correlations, typically lie macroeconomic factors such as the impact of global demand on groups of commodities, or the pricing parity effect of interest rates on foreign exchange rates. More specific relationships can exist be |
Fair Value of Financial Instrum
Fair Value of Financial Instruments not carried at Fair Value | 6 Months Ended |
Jun. 30, 2021 | |
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 This section should be read in conjunction with Note 14 “Fair Value of Financial Instruments not carried at Fair Value” of the Group’s Annual Report 2020. 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 are consistent with those outlined in Note 13 “Financial Instruments carried at Fair Value” of the Group’s Annual Report 2020. 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. Estimated fair value of financial instruments not carried at fair value on the balance sheet 1 Jun 30, 2021 Dec 31, 2020 in € m. Carrying value Fair value Carrying value Fair value Financial assets: Cash and central bank balances 198,268 198,268 166,208 166,208 Interbank balances (w/o central banks) 8,359 8,359 9,130 9,132 Central bank funds sold and securities purchased under resale agreements 8,519 8,528 8,533 8,519 Securities borrowed 33 33 0 0 Loans 440,747 446,302 426,691 434,442 Other financial assets 120,688 120,930 94,069 94,393 Financial liabilities: Deposits 581,490 581,804 567,745 568,172 Central bank funds purchased and securities sold under repurchase 3,144 3,141 2,325 2,328 Securities loaned 1,123 1,123 1,697 1,697 Other short-term borrowings 3,428 3,430 3,553 3,556 Other financial liabilities 115,371 115,371 96,602 96,602 Long-term debt 149,139 151,534 149,163 150,691 Trust preferred securities 1,044 1,095 1,321 1,069 1 Amounts 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” of the Group’s Annual Report 2020. |
Shares Issued and Outstanding
Shares Issued and Outstanding | 6 Months Ended |
Jun. 30, 2021 | |
Shares Issued and Outstanding [Abstract] | |
Disclosure of Shares Issued and Outstanding [text block] | Shares issued and outstanding in million Jun 30, 2021 Dec 31, 2020 Shares issued 2,066.8 2,066.8 Shares in treasury 3.0 1.3 Of which: Buyback 3.0 1.3 Other 0.0 0.0 Shares outstanding 2,063.7 2,065.4 |
Allowance for Credit Losses
Allowance for Credit Losses | 6 Months Ended |
Jun. 30, 2021 | |
Allowance for Credit Losses [Abstract] | |
Disclosure of allowance for credit losses [text block] | Allowance for credit losses Development of allowance for credit losses for financial assets at amortized cost Six months ended Jun 30, 2021 Allowance for credit losses 5 in € m. Stage 1 Stage 2 Stage 3 Stage 3 POCI Total Balance, beginning of year 544 648 3,614 139 4,946 Movements in financial assets including new business (201) 101 237 17 154 Transfers due to changes in creditworthiness¹ 98 (113) 15 0 Changes due to modifications that did not result in Changes in models 0 0 0 0 0 Financial assets that have been derecognized during the period² 0 0 (226) 0 (226) Recovery of written off amounts 0 0 26 8 33 Foreign exchange and other changes 8 (3) (28) 2 (21) Balance, end of reporting period 448 634 3,638 166 4,886 Provision for credit losses excluding country risk 3,4 (104) (12) 252 17 154 1 Transfers due to changes in creditworthiness” shows the CLA Movements due to stage transfer prior to ECL remeasurement. 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. 4 Credit Loss Provision does include € 5 million 5 Allowance for credit losses does not include allowance for country risk amounting to € 4 million Six months ended Jun 30, 2020 Allowance for credit losses 5 in € m. Stage 1 Stage 2 Stage 3 Stage 3 POCI Total Balance, beginning of year 549 492 3,015 36 4,093 Movements in financial assets including new business 108 401 668 71 1,248 Transfers due to changes in creditworthiness¹ 39 (93) 54 0 Changes due to modifications that did not result in Changes in models 0 0 0 0 0 Financial assets that have been derecognized during the period² 0 0 (280) 0 (280) Recovery of written off amounts 0 0 23 0 23 Foreign exchange and other changes (14) (5) (43) 14 (47) Balance, end of reporting period 683 796 3,438 121 5,037 Provision for credit losses excluding country risk 3,4 148 308 722 71 1,248 1 Transfers due to changes in creditworthiness” shows the CLA Movements due to stage transfer prior to ECL remeasurement. 2 This position includes charge offs of allowance for credit losses. 3 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. 4 Credit Loss Provision does include € 42 million 5 Allowance for credit losses does not include allowance for country risk amounting to € 5 million Development of allowance for credit losses for off-balance sheet positions Six months ended Jun 30, 2021 Allowance for credit losses 3 in € m. Stage 1 Stage 2 Stage 3 Stage 3 POCI Total Balance, beginning of year 144 74 200 0 419 Movements including new business (41) 21 (3) 0 (23) Transfers due to changes in creditworthiness 1 (5) 1 4 0 Changes in models 0 0 0 0 0 Foreign exchange and other changes 2 5 (2) 0 4 Balance, end of reporting period 100 101 199 0 400 of which: Financial guarantees 64 61 143 0 268 Provision for credit losses excluding country risk 2 (46) 22 1 0 (23) 1 Transfers due to changes in creditworthiness” shows the CLA Movements due to stage transfer prior to ECL remeasurement. 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. 3 Allowance for credit losses does not include allowance for country risk amounting to € 5 million Six months ended Jun 30, 2020 Allowance for credit losses 3 in € m. Stage 1 Stage 2 Stage 3 Stage 3 POCI Total Balance, beginning of year 128 48 166 0 342 Movements including new business 1 33 2 0 35 Transfers due to changes in creditworthiness 1 (2) 0 1 0 Changes in models 0 0 0 0 0 Foreign exchange and other changes 7 8 11 0 26 Balance, end of reporting period 134 89 180 0 403 Provision for credit losses excluding country risk 2 (1) 33 4 0 35 1 Transfers due to changes in creditworthiness” shows the CLA Movements due to stage transfer prior to ECL remeasurement. 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. 3 Allowance for credit losses does not include allowance for country risk amounting to € 4 million |
Provisions
Provisions | 6 Months Ended |
Jun. 30, 2021 | |
Provisions [Abstract] | |
Disclosure of provisions [text block] | Provisions As of June 30, 2021, the Group recognized € 2.6 billion (December 31, 2020: € 2.4 billion) in provisions on its balance sheet. These relate to operational risk, civil litigation, regulatory enforcement, restructuring, allowances for credit related off-balance sheet positions and other matters, including bank levies. The consolidated financial statements contained in our Annual Report 2020 describe our provisions as of December 31, 2020, in Note 19 “Allowance for credit losses”, and Note 27 “Provisions”. Civil litigation and regulatory enforcement matters Within provisions as of June 30, 2021, the Group recognized provisions relating to civil litigation of € 0.5 billion € 0.4 billion € 0.4 billion € 0.5 billion For the matters for which a reliable estimate can be made, the Group currently estimates that, as of June 30, 2021, the aggregate future loss of which the possibility is more than remote but less than probable is approximately € 2.0 billion € 2.1 billion € 0.1 billion € 0.2 billion Note 27 “Provisions” to the consolidated financial statements contained in our Annual Report 2020 sets forth, in the section thereof captioned “Current Individual Proceedings”, descriptions as of the date of such consolidated financial statements 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. BGH. € 130 million |
Long-Term Debt
Long-Term Debt | 6 Months Ended |
Jun. 30, 2021 | |
Long-Term Debt and Trust Preferred Securities [Abstract] | |
Disclosure of Long-Term Debt [text block] | Long-term debt in € m. Jun 30, 2021 Dec 31, 2020 Senior debt: Bonds and notes Fixed rate 67,011 67,496 Floating rate 21,275 25,895 Other 52,112 48,103 Subordinated debt: Bonds and notes Fixed rate 7,102 6,049 Floating rate 1,346 1,303 Other 293 316 Total long-term debt 149,139 149,163 |
Credit related Commitments and
Credit related Commitments and Contingent Liabilities | 6 Months Ended |
Jun. 30, 2021 | |
Credit related Commitments and Contingent Liabilities [Abstract] | |
Disclosure of commitments and contingent liabilities [text block] | Credit related commitments and contingent liabilities Lending commitments and lending related contingent liabilities In the normal course of business the Group regularly enters into irrevocable lending commitments, including fronting commitments as well as contingent liabilities consisting of financial and performance guarantees, standby letters of credit and indemnity agreements on behalf of its customers. Under these contracts the Group is required to perform under an obligation agreement or to make payments to the beneficiary based on third party’s failure to meet its obligations. For these instruments it is not known to the Group in detail if, when and to what extent claims will be made. In the event that the Group has to pay out cash in respect of its fronting commitments, the Group would immediately seek reimbursement from the other syndicate lenders. The Group considers all the above instruments in monitoring the credit exposure and may require collateral to mitigate inherent credit risk. If the credit risk monitoring provides sufficient perception about a loss from an expected claim, a provision is established and recorded on the balance sheet. The following table shows the Group’s revocable lending commitments, irrevocable lending commitments and lending related contingent liabilities without considering collateral or provisions. It shows the maximum potential utilization of the Group in case all these liabilities entered into must be fulfilled. The table therefore does not show the expected future cash flows from these liabilities as many of them will expire without being drawn and arising claims will be honored by the customers or can be recovered from proceeds of arranged collateral. in € m. Jun 30, 2021 Dec 31, 2020 Irrevocable lending commitments 178,517 165,643 Revocable lending commitments 50,666 50,233 Contingent liabilities 52,738 47,978 Total 281,922 263,854 Click here to enter text. Other commitments and other contingent liabilities The following table shows the Group’s other irrevocable commitments and other contingent liabilities without considering collateral or provisions. It shows the maximum potential utilization of the Group in case all these liabilities entered into must be fulfilled. The table therefore does not show the expected future cash flows from these liabilities as many of them will expire without being drawn and arising claims will be honored by the customers or can be recovered from proceeds of arranged collateral. in € m. Jun 30, 2021 Dec 31, 2020 Other commitments 151 144 Other contingent liabilities 76 73 Total 227 217 Click here to enter text. Irrevocable payment commitments with regard to levies Irrevocable payment commitments related to bank levy according to Bank Recovery and Resolution Directive (BRRD), the Single Resolution Fund (SRF) and to the German deposit protection schemes amounted to € 1.0 billion € 915.6 million |
Related Party Transactions
Related Party Transactions | 6 Months Ended |
Jun. 30, 2021 | |
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: – – – 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 Group, directly or indirectly. The Group considers the members of the Management Board as currently mandated and the Supervisory Board of the parent company to constitute key management personnel for purposes of IAS 24. Among the Group’s transactions with key management personnel as of June 30, 2021, were loans and commitments of € 6 million € 20 million € 8 million € 21 million Transactions with subsidiaries, associates and joint ventures Transactions between Deutsche Bank AG and its subsidiaries meet the definition of related party transactions. If these transactions are eliminated on consolidation, they are not disclosed as related party transactions. 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 issued and guarantees granted in € m. Jun 30, 2021 Dec 31, 2020 Loans outstanding, beginning of period 214 228 Net movement in loans during the period 104 (19) Changes in the group of consolidated companies 0 0 Exchange rate changes/other (192) 5 Loans outstanding, end of period 1 126 214 Other credit risk related transactions: Allowance for loan losses 0 0 Provision for loan losses 0 0 Guarantees and commitments 130 42 1 There were no past due loans as of June 30, 2021 and December 31, 2020. For the above loans, the Group held collateral of € 5 million € 5 million Deposits received in € m. Jun 30, 2021 Dec 31, 2020 Deposits, beginning of period 49 58 Net movement in deposits during the period 1 (8) Changes in the group of consolidated companies 0 0 Exchange rate changes/other 0 (0) Deposits, end of period 50 49 Other transactions Trading assets and positive market values from derivative financial transactions with associated companies amounted to € 28 million € 1 million € 0 million € 0 million Other assets related to transactions with associated companies amounted to € 69 million € 55 million € 2 million € 2 million Transactions with pension plans The Group has business relationships with a number of pension plans pursuant to which it provides financial services, including investment management. Pension funds may hold or trade Deutsche Bank AG shares or securities. As of June 30, 2021, transactions with these plans were not material for the Group. |
Non-Current Assets and Disposal
Non-Current Assets and Disposal Groups Held for Sale | 6 Months Ended |
Jun. 30, 2021 | |
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 reported in Other assets and Other liabilities. This note provides further explanation on the nature and the financial impact of the non-current assets and disposal groups held for sale as of June 30, 2021. Non-current assets and disposal groups held for sale at the reporting date Total assets held for sale amounted to € 4.4 billion € 6.1 billion € 8.7 billion € 9.9 billion € 0 million Following on from its formation as a disposal group held for sale in the fourth quarter 2019, the transfer of the Global Prime Finance and Electronic Equities platform to BNP Paribas S.A. continues to remain on track. As of June 30, 2021, the respective disposal group established in CRU contains assets ( € 4.4 billion € 8.7 billion |
IBOR Transition
IBOR Transition | 6 Months Ended |
Jun. 30, 2021 | |
IBOR Transition [Abstract] | |
IBOR Transition [Text Block] | Interest rate benchmark reform In recent years, transactions in the unsecured short-term financing market, which IBOR interest rate benchmarks seek to measure, have significantly reduced. As a result, IBOR reform projects have been initiated under the leadership of the Financial Stability Board (FSB) and central bank working groups, which aim to create alternative and robust benchmark interest rates or so-called risk-free rates (“RFRs”). Some reforms are already effective while others are still to be implemented or are under consideration. In 2019, EURIBOR was reformed to comply with the EU financial benchmarks regulation and continues to be available. Effective October 2, 2019, the administrator of EONIA has changed the way it calculates EONIA, so that it is now based on the “€STR” euro short-term rate €STR. EONIA will cease to exist from January 3, 2022. In addition, on July 27, 2020 the discounting methodology of Euro denominated interest rate derivatives centrally cleared through LCH, EUREX and CME changed from EONIA to €STR. This change in discounting methodology impacted the fair value of the derivatives and was offset with a compensating cash payment or receipt so there was no value transfer or impact to the Group’s consolidated income statement. A similar change for USD denominated interest rate derivatives centrally cleared changed its discounting from Federal Funds Rate to SOFR occurred on October 19, 2020. The change in discounting to SOFR did not have a material impact to the Group’s consolidated income statement. In December 2020, the administrator of LIBOR consulted on its intention to cease publication of GBP, CHF, JPY, EUR and certain USD settings after December 31, 2021, and additionally, to cease publication of the remaining USD LIBOR settings after June 30, 2023. On March 5, 2021, the Financial Conduct Authority (FCA) announced, in line with the administrator’s earlier consultation, that most CHF, GBP, JPY and EUR LIBOR benchmarks, and some USD LIBOR benchmarks, would cease publication at the end of 2021. Three JPY LIBOR and three GBP LIBOR benchmarks will continue in ‘synthetic’ form for limited periods after 2021 but in such form will be non-representative of the market and unavailable for use in new products. The remaining USD LIBOR benchmarks will continue to be published until the end of June 2023, with a decision about whether to continue any of them in ‘synthetic’ and thus non-representative form to be taken closer to that date. The following table shows the notional values of financial instruments, external to the Group, which reference IBORs where it is expected that there will no longer be a requirement to quote IBOR rates. The table includes those financial instruments with a maturity date that extends past the date when the requirement to submit quotes is expected to end. For the IBOR rates disclosed below, the financial instruments maturity is past December 31, 2021, except for USD LIBOR referenced contracts with tenors other than 1-week or 2-months where the date is for those maturing after June 30, 2023. Jun 30,2021 in € m. USD IBOR GBP IBOR CHF IBOR JPY IBOR EONIA Other IBORs Multiple basis 1 Non-Derivative Financial assets: Bonds (floating rate notes) 394 - - - - - - Securitizations 80 16 - - - - - Syndicated Loans 24,739 3,702 907 39 - 365 - Repurchase agreements / Other Secured Lending 286 - - - - - - Loans / Advances (Total Limit) 10,223 3,513 168 150 1,279 454 - Retail / Commercial Mortgages 293 - - 53 - - - Other 998 143 - - - - - Derivative Financial assets: 2 Interest Rate Derivatives – Exchange Traded 15,987 81,621 2,396 - - - - Interest Rate Derivatives – OTC 1,561,120 740,229 71,273 499,656 286,856 34,061 5 Other OTC Derivatives 188,453 6,163 1,562 854 - 47 163,874 Total financial assets 1,802,574 835,387 76,307 500,753 288,135 34,927 163,879 Non-Derivative Financial liabilities: Bonds (floating rate notes) 6,376 758 - 21 - - - Securitizations 11 8 - - - - - Deposits 3,222 0 - 19 21,993 - - Other 35 2 - - - - - Derivative Financial liabilities: 2 Interest Rate Derivatives – OTC 1,552,468 762,906 67,577 478,371 300,901 31,696 1 Other OTC Derivatives 182,610 7,729 2,614 5,431 139 71 160,427 Total financial liabilities 1,744,722 771,403 70,191 483,843 323,033 31,767 160,428 Off-balance sheet: Loan Commitments 57,369 3,025 682 201 4 18,436 - Other Commitments 10 - - - - - - Financial Guarantees - - - - - - - Total off-balance sheet 57,380 3,025 682 201 4 18,436 - 1 Multiple basis relates to underlying contracts utilizing multiple benchmarks subject to reforms, (e.g. floating- floating interest rate swaps which have cash flows in GBP IBOR and USD IBOR). 2 The Group also has exposure to interest rate benchmark reform in respect of its cash collateral balances across some of its Credit Support Annex agreements. This exposure is not presented in the table due to its short term nature. |
Capital expenditures and divest
Capital expenditures and divestitures | 6 Months Ended |
Jun. 30, 2021 | |
Capital expenditures and divestitures [Abstract] | |
Disclosure of capital expenditures and divestitures [text block] | Capital expenditures and divestitures During the first half of 2021, the Group did not make any significant capital expenditures or divestitures. |
Events after the Reporting Peri
Events after the Reporting Period | 6 Months Ended |
Jun. 30, 2021 | |
Events after the Reporting Period [Abstract] | |
Disclosure of events after reporting period [text block] | Events after the reporting period After the reporting date no material events occurred which had a significant impact on our results of operations, financial position and net assets. |
Management Report - Segment R_2
Management Report - Segment Results of Operations (Tables) | 6 Months Ended |
Jun. 30, 2021 | |
Segment Results of Operations [Abstract] | |
Segment Results of Operations [text block table] | Segment results Three months ended Jun 30, 2021 in € m. Corporate Investment Private Asset Capital Corporate & Total Net revenues 1,230 2,394 2,018 626 (24) (2) 6,243 Provision for credit losses (20) 2 117 1 (25) (1) 75 Noninterest expenses: Compensation and benefits 271 491 682 202 35 870 2,551 General and administrative expenses 729 844 1,162 192 223 (789) 2,361 Impairment of goodwill and other intangible assets 0 0 0 0 0 0 0 Restructuring activities 5 11 69 1 1 (0) 86 Total noninterest expenses 1,004 1,346 1,913 395 259 81 4,998 Noncontrolling interests 0 (2) 0 49 0 (47) 0 Profit (loss) before tax 246 1,047 (11) 180 (258) (34) 1,170 N/M – Not meaningful Three months ended Jun 30, 2020 in € m. Corporate Investment Private Asset Capital Corporate & Total Net revenues 1,341 2,676 1,960 549 (66) (118) 6,342 Provision for credit losses 144 364 225 (1) 29 1 761 Noninterest expenses: Compensation and benefits 260 464 728 204 45 944 2,645 General and administrative expenses 859 852 1,160 189 451 (912) 2,599 Impairment of goodwill and other intangible assets 0 0 0 0 0 0 0 Restructuring activities 0 11 104 7 (0) 1 123 Total noninterest expenses 1,120 1,327 1,992 400 496 34 5,367 Noncontrolling interests 0 6 (0) 36 (0) (42) 0 Profit (loss) before tax 78 979 (257) 114 (591) (110) 213 N/M – Not meaningful Prior year segmental information presented in the current structure Six months ended Jun 30, 2021 in € m. Corporate Investment Private Asset Capital Corporate & Total Net revenues 2,544 5,491 4,196 1,263 57 241 13,792 Provision for credit losses (40) 3 215 1 (32) (3) 144 Noninterest expenses: Compensation and benefits 545 982 1,401 418 75 1,762 5,183 General and administrative expenses 1,547 1,958 2,246 380 681 (1,524) 5,287 Impairment of goodwill and other intangible assets 0 0 0 0 0 0 0 Restructuring activities 17 12 71 2 1 (0) 102 Total noninterest expenses 2,109 2,951 3,718 800 757 237 10,572 Noncontrolling interests 0 (1) 0 98 0 (97) 0 Profit (loss) before tax 475 2,538 263 364 (668) 103 3,075 N/M – Not meaningful Six months ended Jun 30, 2020 in € m. Corporate Investment Private Asset Capital Corporate & Total Net revenues 2,666 5,030 4,127 1,068 (123) (207) 12,560 Provision for credit losses 250 607 364 (0) 43 5 1,267 Noninterest expenses: Compensation and benefits 541 959 1,467 376 97 1,894 5,334 General and administrative expenses 1,671 1,828 2,244 386 1,092 (1,749) 5,474 Impairment of goodwill and other intangible assets 0 0 0 0 0 0 0 Restructuring activities 5 15 166 10 1 0 197 Total noninterest expenses 2,217 2,802 3,877 774 1,190 145 11,006 Noncontrolling interests 0 5 (0) 70 (0) (75) 0 Profit (loss) before tax 199 1,616 (114) 224 (1,356) (282) 287 N/M – Not meaningful Prior year segmental information presented in the current structure |
Segment Results of Operations, Corporate Bank [text block table] | Corporate Bank (CB) Three months ended Six months ended in € m. Jun 30, 2021 Jun 30, 2020 Absolute Change Jun 30, 2021 Jun 30, 2020 Absolute Change Net revenues: Corporate Treasury Services 728 813 (85) (10) 1,524 1,613 (89) (6) Institutional Client Services 322 336 (14) (4) 650 672 (22) (3) Business Banking 180 193 (13) (7) 370 381 (11) (3) Total net revenues 1,230 1,341 (111) (8) 2,544 2,666 (122) (5) Of which: Net interest income 543 822 (279) (34) 1,250 1,525 (275) (18) Commissions and fee income 534 512 22 4 1,081 1,043 38 4 Remaining income 153 8 146 N/M 213 98 114 116 Provision for credit losses (20) 144 (163) N/M (40) 250 (290) N/M Noninterest expenses: Compensation and benefits 271 260 11 4 545 541 4 1 General and administrative expenses 729 859 (130) (15) 1,547 1,671 (124) (7) Impairment of goodwill and other intangible assets 0 0 0 N/M 0 0 0 N/M Restructuring activities 5 0 4 N/M 17 5 12 N/M Total noninterest expenses 1,004 1,120 (115) (10) 2,109 2,217 (109) (5) Noncontrolling interests 0 0 0 N/M 0 0 0 N/M Profit (loss) before tax 246 78 168 N/M 475 199 276 139 Total assets (in € bn) 1 245 241 5 2 245 241 5 2 Loans (gross of allowance for loan losses, in € bn) 1 116 120 (4) (3) 116 120 (4) (3) Employees (front office full-time equivalent) 1 7,524 7,860 (336) (4) 7,524 7,860 (336) (4) N/M – Not meaningful Prior year segmental information presented in the current structure 1 As of quarter-end. |
Segment Results of Operations, Investment Bank [text block table] | Investment Bank (IB) Three months ended Six months ended in € m. Jun 30, 2021 Jun 30, 2020 Absolute Change Jun 30, 2021 Jun 30, 2020 Absolute Change Net revenues: Fixed Income, Currency (FIC) Sales & Trading 1,811 2,030 (220) (11) 4,280 3,884 396 10 Debt Origination 399 450 (51) (11) 785 811 (26) (3) Equity Origination 115 118 (4) (3) 313 136 177 131 Advisory 111 42 69 166 181 104 77 74 Origination & Advisory 624 610 14 2 1,279 1,051 228 22 Other (41) 36 (77) N/M (68) 95 (163) N/M Total net revenues 2,394 2,676 (283) (11) 5,491 5,030 461 9 Provision for credit losses 2 364 (362) (99) 3 607 (604) (100) Noninterest expenses: Compensation and benefits 491 464 26 6 982 959 23 2 General and administrative expenses 844 852 (7) (1) 1,958 1,828 129 7 Impairment of goodwill and other intangible assets 0 0 0 N/M 0 0 0 N/M Restructuring activities 11 11 0 1 12 15 (3) (19) Total noninterest expenses 1,346 1,327 19 1 2,951 2,802 150 5 Noncontrolling interests (2) 6 (8) N/M (1) 5 (6) N/M Profit (loss) before tax 1,047 979 68 7 2,538 1,616 921 57 Total assets (in € bn) 1 586 594 (8) (1) 586 594 (8) (1) Loans (gross of allowance for loan losses, in € bn) 1 75 80 (5) (6) 75 80 (5) (6) Employees (front office full-time equivalent) 1 4,212 4,270 (58) (1) 4,212 4,270 (58) (1) N/M – Not meaningful Prior year segmental information presented in the current structure Commencing from the second quarter of 2021, Investment Bank presents CLO recovery gains and losses in its revenue category “Other”. Previously these gains and losses were presented in “FIC Sales & Trading” and “Origination & Advisory”. Prior period data has been reclassified 1 As of quarter-end. |
Segment Results of Operations, Private Bank [text block table] | Private Bank (PB) Three months ended Six months ended in € m. Jun 30, 2021 Jun 30, 2020 Absolute Change Jun 30, 2021 Jun 30, 2020 Absolute Change Net revenues: Private Bank Germany 1,198 1,210 (12) (1) 2,545 2,542 3 0 International Private Bank 820 750 70 9 1,651 1,585 66 4 IPB Personal Banking 1 213 187 26 14 442 407 35 9 Private Banking 2 607 563 44 8 1,209 1,178 31 3 Total net revenues 2,018 1,960 59 3 4,196 4,127 69 2 Of which: Net interest income 1,147 1,129 19 2 2,319 2,319 0 0 Commissions and fee income 737 679 58 9 1,626 1,525 101 7 Remaining income 134 152 (18) (12) 251 283 (32) (11) Provision for credit losses 117 225 (108) (48) 215 364 (149) (41) Noninterest expenses: Compensation and benefits 682 728 (46) (6) 1,401 1,467 (66) (4) General and administrative expenses 1,162 1,160 3 0 2,246 2,244 2 0 Impairment of goodwill and other intangible assets 0 0 0 N/M 0 0 0 N/M Restructuring activities 69 104 (36) (34) 71 166 (95) (57) Total noninterest expenses 1,913 1,992 (79) (4) 3,718 3,877 (159) (4) Noncontrolling interests 0 (0) 0 N/M 0 (0) 0 N/M Profit (loss) before tax (11) (257) 246 (96) 263 (114) 377 N/M Total assets (in € bn) 3 305 284 21 7 305 284 21 7 Loans (gross of allowance for loan losses, in € bn) 3 247 230 17 7 247 230 17 7 Assets under Management (in € bn) 3 535 471 64 14 535 471 64 14 Net flows (in € bn) 10 6 4 65 20 7 14 N/M Employees (front office full-time equivalent) 3 29,153 30,967 (1,815) (6) 29,153 30,967 (1,815) (6) N/M – Not meaningful Prior year segmental information presented in the current structure 1 Including small businesses in Italy, Spain and India. 2 Including small & mid caps in Italy, Spain and India. 3 As of quarter-end. |
Segment Results of Operations, Asset Management [text block table] | Asset Management (AM) Three months ended Six months ended in € m. Jun 30, 2021 Jun 30, 2020 Absolute Change Jun 30, 2021 Jun 30, 2020 Absolute Change Net revenues: Management Fees 584 508 76 15 1,131 1,061 71 7 Performance and transaction fees 19 20 (1) (7) 58 37 21 56 Other 23 21 2 9 73 (30) 103 N/M Total net revenues 626 549 77 14 1,263 1,068 195 18 Provision for credit losses 1 (1) 2 N/M 1 (0) 1 N/M Noninterest expenses: Compensation and benefits 202 204 (1) (1) 418 376 42 11 General and administrative expenses 192 189 2 1 380 386 (6) (2) Impairment of goodwill and other intangible assets 0 0 0 N/M 0 0 (0) N/M Restructuring activities 1 7 (6) (88) 2 10 (9) (82) Total noninterest expenses 395 400 (5) (1) 800 774 27 3 Noncontrolling interests 49 36 13 37 98 70 27 39 Profit (loss) before tax 180 114 67 59 364 224 140 62 Total assets (in € bn) 1 10 10 0 3 10 10 0 3 Assets under Management (in € bn) 1 859 745 114 15 859 745 114 15 Net flows (in € bn) 20 9 11 127 21 6 14 N/M Employees (front office full-time equivalent) 1 3,953 3,901 52 1 3,953 3,901 52 1 N/M – Not meaningful Prior year segmental information presented in the current structure 1 As of quarter-end. |
Segment Results of Operations, Capital Release Unit [text block table] | Capital Release Unit (CRU) Three months ended Six months ended in € m. Jun 30, 2021 Jun 30, 2020 Absolute Change Jun 30, 2021 Jun 30, 2020 Absolute Change Net revenues (24) (66) 43 (64) 57 (123) 180 N/M Provision for credit losses (25) 29 (54) N/M (32) 43 (75) N/M Noninterest expenses: Compensation and benefits 35 45 (10) (21) 75 97 (22) (23) General and administrative expenses 223 451 (228) (51) 681 1,092 (412) (38) Impairment of goodwill and other intangible assets 0 0 0 N/M 0 0 0 N/M Restructuring activities 1 (0) 1 N/M 1 1 0 38 Total noninterest expenses 259 496 (237) (48) 757 1,190 (433) (36) Noncontrolling interests 0 (0) 0 N/M 0 (0) 0 N/M Profit (loss) before tax (258) (591) 334 (56) (668) (1,356) 689 (51) Total assets (in € bn) 1 167 265 (98) (37) 167 265 (98) (37) Employees (front office full-time equivalent) 1 420 536 (116) (22) 420 536 (116) (22) N/M – Not meaningful Prior year segmental information presented in the current structure 1 As of quarter-end. |
Segment Results of Operations, Corporate & Other [text block table] | Corporate & Other (C&O) Three months ended Six months ended in € m. Jun 30, 2021 Jun 30, 2020 Absolute Change Jun 30, 2021 Jun 30, 2020 Absolute Change Net revenues (2) (118) 116 (99) 241 (207) 448 N/M Provision for credit losses (1) 1 (2) N/M (3) 5 (7) N/M Noninterest expenses: Compensation and benefits 870 944 (74) (8) 1,762 1,894 (133) (7) General and administrative expenses (789) (912) 122 (13) (1,524) (1,749) 224 (13) Impairment of goodwill and other intangible assets 0 0 0 N/M 0 0 0 N/M Restructuring activities (0) 1 (1) N/M (0) 0 (0) N/M Total noninterest expenses 81 34 47 140 237 145 92 63 Noncontrolling interests (47) (42) (5) 12 (97) (75) (21) 28 Profit (loss) before tax (34) (110) 76 (69) 103 (282) 385 N/M Employees (full-time equivalent) 1 38,535 39,289 (754) (2) 38,535 39,289 (754) (2) N/M – Not meaningful Prior year segmental information presented in the current structure 1 As of quarter-end. |
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) | 6 Months Ended |
Jun. 30, 2021 | |
Net Interest Income and Net Gains (Losses) on Financial Assets/Liabilities at Fair Value through Profit or Loss [Abstract] | |
Net Interest Income and Net Gains (Losses) on Financial Assets/Liabilities at Fair Value through Profit or Loss [text block table] | Net interest income and net gains (losses) on financial Three months ended Six months ended in € m. Jun 30, 2021 Jun 30, 2020 Jun 30, 2021 Jun 30, 2020 Net interest income 1 2,652 3,096 5,448 6,357 Trading income 1,2 820 1,030 2,281 792 Net gains (losses) on non-trading financial assets mandatory at fair value through profit or loss 175 143 202 64 Net gains (losses) on financial assets/liabilities designated at fair value through profit or loss (12) (466) 101 83 Total net gains (losses) on financial assets/liabilities at fair value through profit or loss 983 708 2,584 939 Total net interest income and net gains (losses) on financial assets/liabilities 3,635 3,803 8,033 7,296 Corporate Treasury Services 366 593 859 1,114 Institutional Client Services 78 84 167 183 Business Banking 131 141 270 272 Corporate Bank 575 818 1,297 1,569 FIC Sales & Trading 1,775 2,392 4,153 3,768 Remaining Products (7) 57 (39) 124 Investment Bank 1,768 2,449 4,114 3,892 Private Bank 1,208 1,137 2,487 2,374 Asset Management 56 25 135 (160) Capital Release Unit (18) (154) 51 41 Corporate & Other 45 (471) (51) (419) Total net interest income and net gains (losses) on financial assets/liabilities 3,635 3,803 8,033 7,296 1 Prior year segmental information has been reclassified to the current structure. 2 Trading income includes gains and losses from derivatives not qualifying for hedge accounting. |
Commission and Fee Income (Tabl
Commission and Fee Income (Tables) | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2021 | Jun. 30, 2020 | Jun. 30, 2021 | Jun. 30, 2020 | |
Commissions and Fee Income [Abstract] | ||||
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 Three months ended Jun 30, 2021 in € m. Corporate Investment Private Asset Capital Corporate & Total Major type of services: Commissions for administration 59 10 65 6 1 (1) 141 Commissions for assets under management 4 0 88 844 (0) 0 936 Commissions for other securities 106 0 10 0 0 0 117 Underwriting and advisory fees 9 566 3 0 0 (15) 564 Brokerage fees 5 66 318 22 25 1 437 Commissions for local payments 112 1 151 0 0 3 267 Commissions for foreign commercial business 111 6 25 0 0 (1) 142 Commissions for foreign currency/exchange business 2 0 1 0 0 (0) 3 Commissions for loan processing and guarantees 135 79 74 0 2 0 290 Intermediary fees 2 (1) 191 0 0 2 194 Fees for sundry other customer services 62 128 12 27 (0) 1 230 Total fee and commissions income 608 855 940 899 27 (8) 3,321 Gross expense (747) Net fees and commissions 2,574 . | Three months ended Jun 30, 2020 in € m. Corporate Investment Private Asset Capital Corporate & Total Major type of services: Commissions for administration 63 4 57 6 0 (1) 129 Commissions for assets under management 5 0 79 734 0 0 818 Commissions for other securities 110 (0) 8 0 0 0 117 Underwriting and advisory fees 5 418 3 0 0 (14) 413 Brokerage fees 2 60 256 20 31 5 375 Commissions for local payments 105 (2) 220 (0) 0 (1) 322 Commissions for foreign commercial business 99 6 26 0 0 (1) 130 Commissions for foreign currency/exchange business 1 0 2 0 0 (0) 2 Commissions for loan processing and guarantees 126 43 71 0 3 1 244 Intermediary fees 2 0 188 0 0 2 193 Fees for sundry other customer services 62 69 12 29 1 0 173 Total fee and commissions income 580 598 922 788 36 (6) 2,917 Gross expense (690) Net fees and commissions 2,227 | Six months ended Jun 30, 2021 in € m. Corporate Investment Private Asset Capital Corporate & Total Major type of services: Commissions for administration 120 23 128 11 2 (2) 283 Commissions for assets under management 8 0 176 1,660 (0) 0 1,844 Commissions for other securities 201 (0) 21 1 0 0 222 Underwriting and advisory fees 21 1,151 9 0 (0) (30) 1,151 Brokerage fees 12 129 715 40 58 (0) 954 Commissions for local payments 221 2 385 0 0 4 612 Commissions for foreign commercial business 221 11 50 0 0 (1) 280 Commissions for foreign currency/exchange business 4 0 3 0 0 (0) 6 Commissions for loan processing and guarantees 275 130 151 0 3 2 560 Intermediary fees 7 1 387 0 0 6 402 Fees for sundry other customer services 134 242 23 59 2 2 461 Total fee and commissions income 1,223 1,689 2,046 1,771 65 (19) 6,776 Gross expense (1,463) Net fees and commissions 5,313 | Six months ended Jun 30, 2020 in € m. Corporate Investment 1 Private Asset Capital Corporate & Total Major type of services: Commissions for administration 124 6 116 12 0 (1) 257 Commissions for assets under management 10 1 159 1,518 (0) 0 1,688 Commissions for other securities 185 0 16 0 0 0 202 Underwriting and advisory fees 15 859 8 0 (0) (15) 866 Brokerage fees 8 143 615 38 70 2 876 Commissions for local payments 227 0 475 (0) 0 (0) 701 Commissions for foreign commercial business 203 13 52 0 0 (1) 267 Commissions for foreign currency/exchange business 2 0 4 0 0 (0) 6 Commissions for loan processing and guarantees 247 94 153 0 5 3 501 Intermediary fees 7 1 313 0 0 7 328 Fees for sundry other customer services 138 131 21 61 3 0 353 Total fee and commissions income 1,166 1,247 1,932 1,629 78 (5) 6,046 Gross expense (1,380) Net fees and commissions 4,666 |
Gains and Losses on derecogni_2
Gains and Losses on derecognition of Financial Assets at measured at Amortized Cost (Tables) | 6 Months Ended |
Jun. 30, 2021 | |
Gain and Losses on derecognition of Financial Assets at Amortized Cost [Abstract] | |
Gain and Losses on derecognition of Financial Assets at Amortized Cost [Table Text] | The table below presents the gains and (losses) arising from derecognition of these securities. Three months ended Six months ended in € m. Jun 30, 2021 Jun 30, 2020 Jun 30, 2021 Jun 30, 2020 Gains 0 174 0 235 Losses 0 (3) 0 (3) Net gains (losses) from derecognition of securities measured at amortized cost 0 171 0 232 |
Restructuring (Tables)
Restructuring (Tables) | 6 Months Ended |
Jun. 30, 2021 | |
Restructuring [Abstract] | |
Net Restructuring Expense by Division [text block table] | Net restructuring expense by division Three months ended Six months ended in € m. Jun 30, 2021 Jun 30, 2020 Jun 30, 2021 Jun 30, 2020 Corporate Bank 5 0 17 5 Investment Bank 11 11 12 15 Private Bank 69 104 71 166 Asset Management 1 7 2 10 Capital Release Unit 1 (0) 1 1 Corporate & Other (0) 1 (0) 0 Total Net Restructuring Charges 86 123 102 197 |
Net Restructuring by Type [text block table] | Net restructuring expense by type Three months ended Six months ended in € m. Jun 30, 2021 Jun 30, 2020 Jun 30, 2021 Jun 30, 2020 Restructuring – Staff related 65 127 83 201 Of which: Termination Payments 63 106 81 180 Retention Acceleration 2 20 2 20 Social Security (0) 1 (0) 1 Restructuring – Non Staff related 1 20 (4) 19 (4) Total net restructuring Charges 86 123 102 197 1 Contract costs, mainly related to real estate and technology. |
Organizational Changes [text block table] | Full-time equivalent staff Three months ended Six months ended Corporate Bank 16 31 Investment Bank 0 10 Private Bank 70 165 Asset Management 1 11 Capital Release Unit 2 5 Infrastructure 18 53 Total full-time equivalent staff 106 275 |
Financial Instruments carried_2
Financial Instruments carried at Fair Value (Tables) | 6 Months Ended | 12 Months Ended | |
Jun. 30, 2021 | Jun. 30, 2020 | Dec. 31, 2020 | |
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 Jun 30, 2021 Dec 31, 2020 in € m. Quoted Valuation Valuation Quoted Valuation Valuation Financial assets held at fair value: Trading assets 46,609 57,694 7,817 44,525 55,220 8,183 Trading securities 46,449 52,616 3,666 44,349 50,340 3,066 Other trading assets 160 5,077 4,152 176 4,880 5,117 Positive market values from derivative financial instruments 3,938 261,434 8,518 4,208 330,561 8,725 Non-trading financial assets mandatory at fair value through profit or loss 1,889 77,176 4,347 2,992 68,511 4,618 Financial assets designated at fair value through profit or loss 0 84 6 0 436 0 Financial assets at fair value through other comprehensive income 14,639 20,295 2,252 28,057 25,741 2,037 Other financial assets at fair value 72 6,069 2 4 93 9,238 2 20 Total financial assets held at fair value 67,147 422,752 22,943 79,875 489,707 23,583 Financial liabilities held at fair value: Trading liabilities 45,181 10,864 76 36,699 7,615 2 Trading securities 45,145 10,427 18 36,674 7,206 2 Other trading liabilities 35 437 58 25 409 0 Negative market values from derivative financial instruments 4,756 250,879 8,930 4,430 315,145 8,200 Financial liabilities designated at fair value through profit or loss 0 52,043 878 0 45,622 960 Investment contract liabilities 0 560 0 0 526 0 Other financial liabilities at fair value 16 3,814 2 (168) 3 799 3,573 2 (294) 3 Total financial liabilities held at fair value 49,952 318,160 9,717 41,929 372,480 8,867 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” of the Annual Report 2020. 2 Predominantly relates to derivatives qualifying for hedge accounting. | ||
Reconciliation of Financial Instruments Categorized in Level 3 [text block table] | Reconciliation of financial instruments classified in Level 3 Jun 30, 2021 in € m. Balance, Changes Total 1 Purchases Sales Issu- 2 Settle- 3 Transfers 4 Transfers 4 Balance, Financial assets Trading securities 3,066 0 394 1,709 (1,476) 0 (80) 663 (611) 3,666 Positive market 8,725 0 (275) 0 0 0 (465) 2,951 (2,418) 8,518 Other trading 5,117 0 114 497 (1,439) 390 (592) 542 (477) 4,152 Non-trading financial assets mandatory at fair value through profit or loss 4,618 0 229 218 (184) 132 (207) 47 (506) 4,347 Financial assets 0 0 0 0 0 5 0 0 0 6 Financial assets at fair value through other comprehensive income 2,037 0 37 5 43 (22) 338 (236) 274 (220) 2,252 Other financial 20 0 (2) 0 0 0 0 3 (17) 4 Total financial assets 23,583 0 496 6,7 2,468 (3,120) 865 (1,580) 4,479 (4,248) 22,943 Financial liabilities Trading securities 2 0 0 0 0 0 (2) 18 (0) 18 Negative market 8,200 0 (656) 0 0 0 (166) 3,016 (1,464) 8,930 Other trading 0 0 (6) 0 0 0 0 64 0 58 Financial liabilities 960 0 (12) 0 0 45 (202) 180 (93) 878 Other financial (294) 0 95 0 0 0 (8) 2 37 (168) Total financial 8,867 0 (579) 6,7 0 0 45 (378) 3,281 (1,520) 9,717 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 at fair value through other comprehensive income reported in the consolidated statement of income and unrealized net gains (losses) on financial assets at fair value through other comprehensive income 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 period 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 period 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 mandatory at fair value through OCI include a gain of € 7 million 6 This amount includes the effect of exchange rate changes. For total financial assets held at fair value this effect is a gain of € 168 million € 16 million 7 For assets, positive balances represent gains, negative balances represent losses. For liabilities, positive balances represent losses, negative balances represent gains. | Jun 30, 2020 in € m. Balance, Changes in Total 1 Purchases Sales Issu- 2 Settle- 3 Transfers 4 Transfers 4 Balance, Financial assets Trading securities 3,430 0 (72) 1,101 (1,477) 0 (135) 610 (421) 3,035 Positive market 8,167 0 1,965 0 0 0 (307) 1,651 (1,560) 9,915 Other trading 6,137 0 (312) 490 (1,143) 919 (515) 660 (232) 6,004 Non-trading financial assets mandatory at fair value through profit or loss 5,278 0 (38) 161 (181) 199 (426) 667 (787) 4,872 Financial assets 7 0 0 0 0 0 0 0 (6) 1 Financial assets at fair value through other comprehensive income 1,050 0 (19) 5 292 0 0 (99) 333 (246) 1,311 Other financial 363 0 1 0 0 0 (1) 79 (194) 249 Total financial assets 24,431 0 1,525 6,7 2,044 (2,801) 1,118 (1,483) 4,000 (3,447) 25,387 Financial liabilities Trading securities 2 0 (0) 0 0 0 (0) 0 (2) 0 Negative market 6,652 0 1,521 0 0 0 3 1,273 (1,318) 8,131 Other trading 38 0 (1) 0 0 0 (9) 0 (28) 0 Financial liabilities 1,954 0 (40) 0 0 146 (509) 180 (208) 1,522 Other financial (34) 0 (221) 0 0 0 (1) 8 (44) (292) Total financial 8,612 0 1,259 6,7 0 0 146 (516) 1,462 (1,601) 9,361 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 at fair value through other comprehensive income reported in the consolidated statement of income and unrealized net gains (losses) on financial assets at fair value through other comprehensive income 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 period 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 period 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 mandatory at fair value through OCI include a loss of € 14 million 6 This amount includes the effect of exchange rate changes. For total financial assets held at fair value this effect is a loss of € 119 million € 12 million 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 Jun 30, 2021 Dec 31, 2020 in € m. Positive fair value Negative fair value Positive fair value Negative fair value Securities: Debt securities 435 326 287 201 2 Commercial mortgage-backed securities 12 21 9 22 Mortgage and other asset-backed securities 9 7 20 12 Corporate, sovereign and other debt securities 414 297 259 167 2 Equity securities 77 59 83 57 2 Derivatives: Credit 157 115 283 185 Equity 219 203 257 238 Interest related 307 269 306 266 Foreign exchange 35 30 37 32 Other 109 91 93 82 Loans: Loans 426 247 483 306 Other 0 0 0 0 Total 1,766 1,340 1,829 1,367 1 Where the exposure to an unobservable parameter is offset across different instruments then only the net impact is disclosed in the table. 2 Reassessment of trades have resulted a reclassification in Negative fair value movement from using reasonable possible alternatives in ‘Corporate, sovereign and other debt securities’ from ‘Equity securities’ | ||
Quantitative Information about Fair Value (Level 3) 1 [text block table] | Financial instruments classified in Level 3 and quantitative information about unobservable inputs Jun 30, 2021 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 36 0 Price based Price 0 % 112 % Discounted cash flow Credit spread (bps) 80 1,220 Mortgage- and other asset-backed 108 0 Price based Price 0 % 105 % Discounted cash flow Credit spread (bps) 0 1,130 Recovery rate 60 % 100 % Constant default rate 0 % 3 % Constant prepayment rate 0 % 26 % Total mortgage- and other asset-backed 144 0 Debt securities and other debt 4,753 835 Price based Price 0 % 198 % Held for trading 3,148 18 Discounted cash flow Credit spread (bps) 12 542 Corporate, sovereign and other 3,148 Non-trading financial assets mandatory at fair value through profit or loss 1,432 Designated at fair value through profit or loss 0 817 Financial assets at fair value through other comprehensive income 173 Equity securities 1,046 0 Market approach Price per net asset value 0 % 106 % Held for trading 374 0 Enterprise value/EBITDA 5 17 Non-trading financial assets mandatory at fair value through profit or loss 672 Discounted cash flow Weighted average cost capital 8 % 20 % Price based Price 0 % 100 % Loans 6,978 58 Price based Price 0 % 326 % Held for trading 4,137 58 Discounted cash flow Credit spread (bps) 160 1,764 Non-trading financial assets mandatory at fair value through profit or loss 758 Recovery rate 10 % 85 % Designated at fair value through profit or loss 5 0 Financial assets at fair value through other comprehensive income 2,079 Loan commitments 0 2 Discounted cash flow Credit spread (bps) 6 3,038 Recovery rate 10 % 100 % Loan pricing model Utilization 0 % 100 % Other financial instruments 1,504 2 65 3 Discounted cash flow IRR 7 % 16 % Repo rate (bps.) (2) 300 Total non-derivative financial 14,425 961 1 Valuation technique(s) and subsequently the significant unobservable input(s) relate to the respective total position. 2 Other financial assets include € 15 million € 1.5 billion 3 Other financial liabilities include € 59 million € 6 million | Dec 31, 2020 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 28 0 Price based Price 0 % 114 % Discounted cash flow Credit spread (bps) 133 1,270 Mortgage- and other asset-backed 155 0 Price based Price 0 % 106 % Discounted cash flow Credit spread (bps) 109 1,295 Recovery rate 10 % 90 % Constant default rate 1 % 2 % Constant prepayment rate 1 % 25 % Total mortgage- and other asset-backed 183 0 Debt securities and other debt 4,625 769 Price based Price 0 % 200 % Held for trading 2,813 2 Discounted cash flow Credit spread (bps) 21 544 Corporate, sovereign and other 2,813 Non-trading financial assets mandatory at fair value through profit or loss 1,652 Designated at fair value through profit or loss 0 768 Financial assets at fair value through other comprehensive income 160 Equity securities 727 0 Market approach Price per net asset value 42 % 100 % Held for trading 70 0 Enterprise value/EBITDA 5 23 Non-trading financial assets mandatory at fair value through profit or loss 657 Discounted cash flow Weighted average cost capital 8 % 20 % Price based Price 0 % 108 % Loans 7,888 0 Price based Price 0 % 373 % Held for trading 5,101 0 Discounted cash flow Credit spread (bps) 51 2,233 Non-trading financial assets mandatory at fair value through profit or loss 910 Recovery rate 20 % 85 % Financial assets at fair value through other comprehensive income 1,877 Loan commitments 0 1 Discounted cash flow Credit spread (bps) 6 2,444 Recovery rate 25 % 100 % Loan pricing model Utilization 0 % 100 % Other financial instruments 1,432 2 198 3 Discounted cash flow IRR 7 % 16 % Repo rate (bps.) 0 75 Total non-derivative financial 14,854 968 1 2 Other financial assets include € 16 million € 1.4 billion 3 Other financial liabilities include € 192 million € 6 million | |
Quantitative Information about Fair Value (Level 3) 2 [text block table] | Jun 30, 2021 Fair value in € m. Assets Liabilities Valuation technique(s) Significant unobservable Range Financial instruments held at fair value: Market values from derivative financial Interest rate derivatives 4,963 4,526 Discounted cash flow Swap rate (bps) (70) 843 Inflation swap rate 0 % 3 % Constant default rate 0 % 15 % Constant prepayment rate 5 % 23 % Option pricing model Inflation volatility 0 % 9 % Interest rate volatility 0 % 22 % IR - IR correlation (25) % 99 % Hybrid correlation (70) % 100 % Credit derivatives 747 589 Discounted cash flow Credit spread (bps) 0 1,086 Recovery rate 0 % 40 % Correlation pricing Credit correlation 16 % 84 % Equity derivatives 777 2,265 Option pricing model Stock volatility 4 % 99 % Index volatility 8 % 81 % Index - index correlation 75 % 91 % Stock - stock correlation 41 % 60 % Stock Forwards 0 % 5 % Index Forwards 0 % 5 % FX derivatives 1,214 1,142 Option pricing model Volatility (17) % 33 % Quoted Vol 0 % 0 % Other derivatives 816 234 1 Discounted cash flow Credit spread (bps) – – Option pricing model Index volatility 0 % 98 % Commodity correlation 0 % 0 % Total market values from derivative 8,518 8,756 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, 2020 Fair value in € m. Assets Liabilities Valuation technique(s) Significant unobservable Range Financial instruments held at fair value: Market values from derivative financial Interest rate derivatives 4,708 4,025 Discounted cash flow Swap rate (bps) (77) 787 Inflation swap rate 1 % 3 % Constant default rate 0 % 10 % Constant prepayment rate 2 % 30 % Option pricing model Inflation volatility 0 % 8 % Interest rate volatility 0 % 19 % IR - IR correlation (25) % 97 % Hybrid correlation (70) % 100 % Credit derivatives 575 585 Discounted cash flow Credit spread (bps) 0 1,759 Recovery rate 0 % 77 % Correlation pricing Credit correlation 31 % 63 % Equity derivatives 800 1,916 Option pricing model Stock volatility 4 % 85 % Index volatility 17 % 75 % Index - index correlation 68 % 96 % Stock - stock correlation 41 % 67 % Stock Forwards 0 % 5 % Index Forwards 0 % 4 % FX derivatives 1,749 1,427 Option pricing model Volatility (16) % 42 % Quoted Vol 0 % 0 % Other derivatives 898 (54) 1 Discounted cash flow Credit spread (bps) – – Option pricing model Index volatility 0 % 113 % Commodity correlation 16 % 52 % Total market values from derivative 8,729 7,899 1 | |
Unrealized Gains or Losses on Level 3 Instruments Held or in Issue at the Reporting Date [text block table] | Six months ended in € m. Jun 30, 2021 Jun 30, 2020 Financial assets held at fair value: Trading securities 298 (30) Positive market values from derivative financial instruments 184 2,300 Other trading assets 64 (207) Non-trading financial assets mandatory at fair value through profit or loss 156 40 Financial assets designated at fair value through profit or loss 1 1 Financial assets at fair value through other comprehensive income 3 (0) Other financial assets at fair value (3) 8 Total financial assets held at fair value 702 2,111 Financial liabilities held at fair value: Trading securities 0 0 Negative market values from derivative financial instruments 159 (1,787) Other trading liabilities 6 0 Financial liabilities designated at fair value through profit or loss 14 41 Other financial liabilities at fair value (95) 219 Total financial liabilities held at fair value 84 (1,527) Total 785 584 | ||
Recognitions of Trade Date Profit [text block table] | in € m. Jun 30, 2021 Jun 30, 2020 Balance, beginning of year 454 441 New trades during the period 55 205 Amortization (77) (70) Matured trades (47) (85) Subsequent move to observability (0) (9) Exchange rate changes 1 (1) Balance, end of period 386 480 |
Fair Value of Financial Instr_2
Fair Value of Financial Instruments not carried at Fair Value (Tables) | 6 Months Ended |
Jun. 30, 2021 | |
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] | Estimated fair value of financial instruments not carried at fair value on the balance sheet 1 Jun 30, 2021 Dec 31, 2020 in € m. Carrying value Fair value Carrying value Fair value Financial assets: Cash and central bank balances 198,268 198,268 166,208 166,208 Interbank balances (w/o central banks) 8,359 8,359 9,130 9,132 Central bank funds sold and securities purchased under resale agreements 8,519 8,528 8,533 8,519 Securities borrowed 33 33 0 0 Loans 440,747 446,302 426,691 434,442 Other financial assets 120,688 120,930 94,069 94,393 Financial liabilities: Deposits 581,490 581,804 567,745 568,172 Central bank funds purchased and securities sold under repurchase 3,144 3,141 2,325 2,328 Securities loaned 1,123 1,123 1,697 1,697 Other short-term borrowings 3,428 3,430 3,553 3,556 Other financial liabilities 115,371 115,371 96,602 96,602 Long-term debt 149,139 151,534 149,163 150,691 Trust preferred securities 1,044 1,095 1,321 1,069 1 Amounts 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” of the Group’s Annual Report 2020. |
Shares Issued and Outstanding (
Shares Issued and Outstanding (Tables) | 6 Months Ended |
Jun. 30, 2021 | |
Shares Issued and Outstanding [Abstract] | |
Shares Issued and Outstanding [text block table] | Shares issued and outstanding in million Jun 30, 2021 Dec 31, 2020 Shares issued 2,066.8 2,066.8 Shares in treasury 3.0 1.3 Of which: Buyback 3.0 1.3 Other 0.0 0.0 Shares outstanding 2,063.7 2,065.4 |
Allowance for Credit Losses (Ta
Allowance for Credit Losses (Tables) | 6 Months Ended |
Jun. 30, 2021 | |
Allowance for Credit Losses [Abstract] | |
Allowance for Credit Losses [text block table] | Development of allowance for credit losses for financial assets at amortized cost Six months ended Jun 30, 2021 Allowance for credit losses 5 in € m. Stage 1 Stage 2 Stage 3 Stage 3 POCI Total Balance, beginning of year 544 648 3,614 139 4,946 Movements in financial assets including new business (201) 101 237 17 154 Transfers due to changes in creditworthiness¹ 98 (113) 15 0 Changes due to modifications that did not result in Changes in models 0 0 0 0 0 Financial assets that have been derecognized during the period² 0 0 (226) 0 (226) Recovery of written off amounts 0 0 26 8 33 Foreign exchange and other changes 8 (3) (28) 2 (21) Balance, end of reporting period 448 634 3,638 166 4,886 Provision for credit losses excluding country risk 3,4 (104) (12) 252 17 154 1 Transfers due to changes in creditworthiness” shows the CLA Movements due to stage transfer prior to ECL remeasurement. 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. 4 Credit Loss Provision does include € 5 million 5 Allowance for credit losses does not include allowance for country risk amounting to € 4 million Six months ended Jun 30, 2020 Allowance for credit losses 5 in € m. Stage 1 Stage 2 Stage 3 Stage 3 POCI Total Balance, beginning of year 549 492 3,015 36 4,093 Movements in financial assets including new business 108 401 668 71 1,248 Transfers due to changes in creditworthiness¹ 39 (93) 54 0 Changes due to modifications that did not result in Changes in models 0 0 0 0 0 Financial assets that have been derecognized during the period² 0 0 (280) 0 (280) Recovery of written off amounts 0 0 23 0 23 Foreign exchange and other changes (14) (5) (43) 14 (47) Balance, end of reporting period 683 796 3,438 121 5,037 Provision for credit losses excluding country risk 3,4 148 308 722 71 1,248 1 Transfers due to changes in creditworthiness” shows the CLA Movements due to stage transfer prior to ECL remeasurement. 2 This position includes charge offs of allowance for credit losses. 3 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. 4 Credit Loss Provision does include € 42 million 5 Allowance for credit losses does not include allowance for country risk amounting to € 5 million |
Allowance for Off-Balance Sheet Positions [text block table] | Development of allowance for credit losses for off-balance sheet positions Six months ended Jun 30, 2021 Allowance for credit losses 3 in € m. Stage 1 Stage 2 Stage 3 Stage 3 POCI Total Balance, beginning of year 144 74 200 0 419 Movements including new business (41) 21 (3) 0 (23) Transfers due to changes in creditworthiness 1 (5) 1 4 0 Changes in models 0 0 0 0 0 Foreign exchange and other changes 2 5 (2) 0 4 Balance, end of reporting period 100 101 199 0 400 of which: Financial guarantees 64 61 143 0 268 Provision for credit losses excluding country risk 2 (46) 22 1 0 (23) 1 Transfers due to changes in creditworthiness” shows the CLA Movements due to stage transfer prior to ECL remeasurement. 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. 3 Allowance for credit losses does not include allowance for country risk amounting to € 5 million Six months ended Jun 30, 2020 Allowance for credit losses 3 in € m. Stage 1 Stage 2 Stage 3 Stage 3 POCI Total Balance, beginning of year 128 48 166 0 342 Movements including new business 1 33 2 0 35 Transfers due to changes in creditworthiness 1 (2) 0 1 0 Changes in models 0 0 0 0 0 Foreign exchange and other changes 7 8 11 0 26 Balance, end of reporting period 134 89 180 0 403 Provision for credit losses excluding country risk 2 (1) 33 4 0 35 1 Transfers due to changes in creditworthiness” shows the CLA Movements due to stage transfer prior to ECL remeasurement. 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. |
Long-Term Debt (Tables)
Long-Term Debt (Tables) | 6 Months Ended |
Jun. 30, 2021 | |
Long-Term Debt and Trust Preferred Securities [Abstract] | |
Long-Term Debt [text block table] | Long-term debt in € m. Jun 30, 2021 Dec 31, 2020 Senior debt: Bonds and notes Fixed rate 67,011 67,496 Floating rate 21,275 25,895 Other 52,112 48,103 Subordinated debt: Bonds and notes Fixed rate 7,102 6,049 Floating rate 1,346 1,303 Other 293 316 Total long-term debt 149,139 149,163 |
Credit related Commitments an_2
Credit related Commitments and Contingent Liabilities (Tables) | 6 Months Ended |
Jun. 30, 2021 | |
Credit related Commitments and Contingent Liabilities [Abstract] | |
Commitments and Contingent Liabilities [text block table] | Click here to enter text. |
Other Commitments and Contingent Liabilities [text block table] | Click here to enter text. |
Related Party Transactions (Tab
Related Party Transactions (Tables) | 6 Months Ended |
Jun. 30, 2021 | |
Related Party Transactions [Abstract] | |
Loans Issued and Guarantees Granted (Transactions with Subsidiaries, Joint Ventures and Associates) [text block table] | Loans issued and guarantees granted in € m. Jun 30, 2021 Dec 31, 2020 Loans outstanding, beginning of period 214 228 Net movement in loans during the period 104 (19) Changes in the group of consolidated companies 0 0 Exchange rate changes/other (192) 5 Loans outstanding, end of period 1 126 214 Other credit risk related transactions: Allowance for loan losses 0 0 Provision for loan losses 0 0 Guarantees and commitments 130 42 1 There were no past due loans as of June 30, 2021 and December 31, 2020. For the above loans, the Group held collateral of € 5 million € 5 million |
Deposits Received (Transactions with Subsidiaries, Joint Ventures and Associates) [text block table] | Deposits received in € m. Jun 30, 2021 Dec 31, 2020 Deposits, beginning of period 49 58 Net movement in deposits during the period 1 (8) Changes in the group of consolidated companies 0 0 Exchange rate changes/other 0 (0) Deposits, end of period 50 49 |
IBOR Transition (Tables)
IBOR Transition (Tables) | 6 Months Ended |
Jun. 30, 2021 | |
IBOR Transition [Abstract] | |
IBOR Transition [Text Block Table] | 1 Multiple basis relates to underlying contracts utilizing multiple benchmarks subject to reforms, (e.g. floating- floating interest rate swaps which have cash flows in GBP IBOR and USD IBOR). 2 The Group also has exposure to interest rate benchmark reform in respect of its cash collateral balances across some of its Credit Support Annex agreements. This exposure is not presented in the table due to its short term nature. |
Basis of Preparation_impact of
Basis of Preparation/impact of changes in accounting principles - Basis of Preparation (Detail: Text Values) - EUR (€) € in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2021 | Jun. 30, 2020 | Jun. 30, 2021 | Jun. 30, 2020 | |
Application of the EU carve out version of IAS 39 [Abstract] | ||||
Positive impact on profit before tax | € (5) | € (55) | € (321) | € 77 |
Positive impact on profit after tax | € (9) | € (23) | € (216) | € 47 |
Basis of Preparation_impact o_2
Basis of Preparation/impact of changes in accounting principles - Parenthetical information Impact of COVID-19 (Detail: Text Values) € in Millions | 6 Months Ended |
Jun. 30, 2021EUR (€) | |
Government Assistance via Guarantees and Sponsored Lending for COVID-19 [Abstract] | |
Granted loans primarily offered to corporate and retail customers in Europe | € 4,500 |
of which qualified for derecognition | 300 |
Impact of ECB Targeted Longer-term Refinancing Operations (TLTRO III) [Abstract] | |
Interest Income | 282 |
Assets borrowed | € 40,800 |
Deutsche Bank's Transformation
Deutsche Bank's Transformation - Deutsche Banks Transformation (Detail: Text Values) - EUR (€) | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2021 | Jun. 30, 2020 | Jun. 30, 2021 | Jun. 30, 2020 | |
Software impairments [Abstract] | ||||
Impairment from reassessment | € 16,000,000 | € 33,000,000 | ||
Amortization on software | € 25,000,000 | 47,000,000 | € 50,000,000 | 94,000,000 |
Impairment of Right-of-Use assets and other related impacts | 39,000,000 | 11,000,000 | 101,000,000 | 21,000,000 |
Deferred tax asset adjustments | 21,000,000 | 30,000,000 | 21,000,000 | 35,000,000 |
Restructuring Expenses | 86,000,000 | 123,000,000 | € 102,000,000 | 197,000,000 |
Impacted FTE | 275 | |||
Severance payments | 38,000,000 | 62,000,000 | € 79,000,000 | 76,000,000 |
Other transformation related expenses including expenses for Audit, Accounting and Tax, consulting fees and IT consulting fees | € 35,000,000 | € 21,000,000 | € 64,000,000 | € 32,000,000 |
Segment Results - Segment Resul
Segment Results - Segment Results of Operations (Detail) - EUR (€) € in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2021 | Jun. 30, 2020 | Jun. 30, 2021 | Jun. 30, 2020 | |
Segment Results of Operations [Line Items] | ||||
Net revenues | € 6,243 | € 6,342 | € 13,792 | € 12,560 |
Provision for credit losses | 75 | 761 | 144 | 1,267 |
Noninterest expenses [Abstract] | ||||
Compensation and benefits | 2,551 | 2,645 | 5,183 | 5,334 |
General and administrative expenses | 2,361 | 2,599 | 5,287 | 5,474 |
Impairment of goodwill and other intangible assets | 0 | 0 | 0 | 0 |
Restructuring activities | 86 | 123 | 102 | 197 |
Total noninterest expenses | 4,998 | 5,367 | 10,572 | 11,006 |
Noncontrolling interests | 0 | 0 | 0 | 0 |
Profit (loss) before tax | 1,170 | 213 | 3,075 | 287 |
Corporate Bank [Member] | ||||
Segment Results of Operations [Line Items] | ||||
Net revenues | 1,230 | 1,341 | 2,544 | 2,666 |
Provision for credit losses | (20) | 144 | (40) | 250 |
Noninterest expenses [Abstract] | ||||
Compensation and benefits | 271 | 260 | 545 | 541 |
General and administrative expenses | 729 | 859 | 1,547 | 1,671 |
Impairment of goodwill and other intangible assets | 0 | 0 | 0 | 0 |
Restructuring activities | 5 | 0 | 17 | 5 |
Total noninterest expenses | 1,004 | 1,120 | 2,109 | 2,217 |
Noncontrolling interests | 0 | 0 | 0 | 0 |
Profit (loss) before tax | 246 | 78 | 475 | 199 |
Investment Bank [Member] | ||||
Segment Results of Operations [Line Items] | ||||
Net revenues | 2,394 | 2,676 | 5,491 | 5,030 |
Provision for credit losses | 2 | 364 | 3 | 607 |
Noninterest expenses [Abstract] | ||||
Compensation and benefits | 491 | 464 | 982 | 959 |
General and administrative expenses | 844 | 852 | 1,958 | 1,828 |
Impairment of goodwill and other intangible assets | 0 | 0 | 0 | 0 |
Restructuring activities | 11 | 11 | 12 | 15 |
Total noninterest expenses | 1,346 | 1,327 | 2,951 | 2,802 |
Noncontrolling interests | (2) | 6 | (1) | 5 |
Profit (loss) before tax | 1,047 | 979 | 2,538 | 1,616 |
Private Bank [Member] | ||||
Segment Results of Operations [Line Items] | ||||
Net revenues | 2,018 | 1,960 | 4,196 | 4,127 |
Provision for credit losses | 117 | 225 | 215 | 364 |
Noninterest expenses [Abstract] | ||||
Compensation and benefits | 682 | 728 | 1,401 | 1,467 |
General and administrative expenses | 1,162 | 1,160 | 2,246 | 2,244 |
Impairment of goodwill and other intangible assets | 0 | 0 | 0 | 0 |
Restructuring activities | 69 | 104 | 71 | 166 |
Total noninterest expenses | 1,913 | 1,992 | 3,718 | 3,877 |
Noncontrolling interests | 0 | 0 | 0 | 0 |
Profit (loss) before tax | (11) | (257) | 263 | (114) |
Asset Management [Member] | ||||
Segment Results of Operations [Line Items] | ||||
Net revenues | 626 | 549 | 1,263 | 1,068 |
Provision for credit losses | 1 | (1) | 1 | 0 |
Noninterest expenses [Abstract] | ||||
Compensation and benefits | 202 | 204 | 418 | 376 |
General and administrative expenses | 192 | 189 | 380 | 386 |
Impairment of goodwill and other intangible assets | 0 | 0 | 0 | 0 |
Restructuring activities | 1 | 7 | 2 | 10 |
Total noninterest expenses | 395 | 400 | 800 | 774 |
Noncontrolling interests | 49 | 36 | 98 | 70 |
Profit (loss) before tax | 180 | 114 | 364 | 224 |
Capital Release Unit [Member] | ||||
Segment Results of Operations [Line Items] | ||||
Net revenues | (24) | (66) | 57 | (123) |
Provision for credit losses | (25) | 29 | (32) | 43 |
Noninterest expenses [Abstract] | ||||
Compensation and benefits | 35 | 45 | 75 | 97 |
General and administrative expenses | 223 | 451 | 681 | 1,092 |
Impairment of goodwill and other intangible assets | 0 | 0 | 0 | 0 |
Restructuring activities | 1 | 0 | 1 | 1 |
Total noninterest expenses | 259 | 496 | 757 | 1,190 |
Noncontrolling interests | 0 | 0 | 0 | 0 |
Profit (loss) before tax | (258) | (591) | (668) | (1,356) |
Corporate & Other [Member] | ||||
Segment Results of Operations [Line Items] | ||||
Net revenues | (2) | (118) | 241 | (207) |
Provision for credit losses | (1) | 1 | (3) | 5 |
Noninterest expenses [Abstract] | ||||
Compensation and benefits | 870 | 944 | 1,762 | 1,894 |
General and administrative expenses | (789) | (912) | (1,524) | (1,749) |
Impairment of goodwill and other intangible assets | 0 | 0 | 0 | 0 |
Restructuring activities | 0 | 1 | 0 | 0 |
Total noninterest expenses | 81 | 34 | 237 | 145 |
Noncontrolling interests | (47) | (42) | (97) | (75) |
Profit (loss) before tax | € (34) | € (110) | € 103 | € (282) |
Segment Results - Corporate Div
Segment Results - Corporate Divisions - Corporate Bank (Detail) - Corporate Bank [Member] - EUR (€) € in Millions | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2021 | Jun. 30, 2020 | Jun. 30, 2021 | Jun. 30, 2020 | ||
Net revenues [Abstract] | |||||
Corporate Treasury Services | € 728 | € 813 | € 1,524 | € 1,613 | |
Institutional Client Services | 322 | 336 | 650 | 672 | |
Business Banking | 180 | 193 | 370 | 381 | |
Total net revenues | 1,230 | 1,341 | 2,544 | 2,666 | |
Of which [Abstract] | |||||
Net interest income | 543 | 822 | 1,250 | 1,525 | |
Commission and fee income | 534 | 512 | 1,081 | 1,043 | |
Remaining income | 153 | 8 | 213 | 98 | |
Provision for credit losses | (20) | 144 | (40) | 250 | |
Noninterest expenses [Abstract] | |||||
Compensation and benefits | 271 | 260 | 545 | 541 | |
General and administrative expenses | 729 | 859 | 1,547 | 1,671 | |
Impairment of goodwill and other intangible assets | 0 | 0 | 0 | 0 | |
Restructuring activities | 5 | 0 | 17 | 5 | |
Total noninterest expenses | 1,004 | 1,120 | 2,109 | 2,217 | |
Noncontrolling interests | 0 | 0 | 0 | 0 | |
Profit (loss) before tax | 246 | 78 | 475 | 199 | |
Total assets | [1] | 245,000 | 241,000 | 245,000 | 241,000 |
Loans gross of allowances for loan losses | [1] | € 116,000 | € 120,000 | € 116,000 | € 120,000 |
[1] | As of quarter-end. |
Segment Results - Corporate D_2
Segment Results - Corporate Divisions - Investment Bank (Detail) - Investment Bank [Member] - EUR (€) € in Thousands | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2021 | Jun. 30, 2020 | Jun. 30, 2021 | Jun. 30, 2020 | ||
Net revenues [Abstract] | |||||
Fixed Income, Currency (FIC) Sales & Trading | € 1,811,000 | € 2,030,000 | € 4,280,000 | € 3,884,000 | |
Equity Origination | 115,000 | 118,000 | 313,000 | 136,000 | |
Debt Origination | 399,000 | 450,000 | 785,000 | 811,000 | |
Advisory | 111,000 | 42,000 | 181,000 | 104,000 | |
Origination and Advisory | 624,000 | 610,000 | 1,279,000 | 1,051,000 | |
Other | (41,000) | 36,000 | (68,000) | 95,000 | |
Total net revenues | 2,394,000 | 2,676,000 | 5,491,000 | 5,030,000 | |
Provision for credit losses | 2,000 | 364,000 | 3,000 | 607,000 | |
Noninterest expenses [Abstract] | |||||
Compensation and benefits | 491,000 | 464,000 | 982,000 | 959,000 | |
General and administrative expenses | 844,000 | 852,000 | 1,958,000 | 1,828,000 | |
Impairment of goodwill and other intangible assets | 0 | 0 | 0 | 0 | |
Restructuring activities | 11,000 | 11,000 | 12,000 | 15,000 | |
Total noninterest expenses | 1,346,000 | 1,327,000 | 2,951,000 | 2,802,000 | |
Noncontrolling interests | (2,000) | 6,000 | (1,000) | 5,000 | |
Profit (loss) before tax | 1,047,000 | 979,000 | 2,538,000 | 1,616,000 | |
Total assets | [1] | 586,000,000 | 594,000,000 | 586,000,000 | 594,000,000 |
Loans gross of allowances for loan losses | [1] | € 75,000,000 | € 80,000,000 | € 75,000,000 | € 80,000,000 |
[1] | As of quarter-end. |
Segment Results - Corporate D_3
Segment Results - Corporate Divisions - Private Bank (Detail) - Private Bank [Member] - EUR (€) € in Millions | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2021 | Jun. 30, 2020 | Jun. 30, 2021 | Jun. 30, 2020 | ||
Net revenues [Abstract] | |||||
Private Bank Germany | € 1,198 | € 1,210 | € 2,545 | € 2,542 | |
International Private Bank | 820 | 750 | 1,651 | 1,585 | |
IPB Personal Banking | [1] | 213 | 187 | 442 | 407 |
Private Banking and Wealth Management | [2] | 607 | 563 | 1,209 | 1,178 |
Total net revenues | 2,018 | 1,960 | 4,196 | 4,127 | |
Of which [Abstract] | |||||
Net interest income | 1,147 | 1,129 | 2,319 | 2,319 | |
Commission and fee income | 737 | 679 | 1,626 | 1,525 | |
Remaining income | 134 | 152 | 251 | 283 | |
Provision for credit losses | 117 | 225 | 215 | 364 | |
Noninterest expenses [Abstract] | |||||
Compensation and benefits | 682 | 728 | 1,401 | 1,467 | |
General and administrative expenses | 1,162 | 1,160 | 2,246 | 2,244 | |
Impairment of goodwill and other intangible assets | 0 | 0 | 0 | 0 | |
Restructuring activities | 69 | 104 | 71 | 166 | |
Total noninterest expenses | 1,913 | 1,992 | 3,718 | 3,877 | |
Noncontrolling interests | 0 | 0 | 0 | 0 | |
Profit (loss) before tax | (11) | (257) | 263 | (114) | |
Total assets | 305,000 | 284,000 | 305,000 | 284,000 | |
Loans gross of allowances for loan losses | [3] | 247,000 | 230,000 | 247,000 | 230,000 |
Assets under Management | [3] | 535,000 | 471,000 | 535,000 | 471,000 |
Net flows | [3] | € 10,000 | € 6,000 | € 20,000 | € 7,000 |
[1] | Including small businesses in Italy, Spain and India. | ||||
[2] | Including small & mid caps in Italy, Spain and India. | ||||
[3] | As of quarter-end. |
Segment Results - Corporate D_4
Segment Results - Corporate Divisions - Asset Management (Detail) - Asset Management [Member] - EUR (€) € in Millions | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2021 | Jun. 30, 2020 | Jun. 30, 2021 | Jun. 30, 2020 | ||
Net revenues [Abstract] | |||||
Management Fees | € 584 | € 508 | € 1,131 | € 1,061 | |
Performance and transaction fees | 19 | 20 | 58 | 37 | |
Other | 23 | 21 | 73 | (30) | |
Total net revenues | 626 | 549 | 1,263 | 1,068 | |
Provision for credit losses | 1 | (1) | 1 | 0 | |
Noninterest expenses [Abstract] | |||||
Compensation and benefits | 202 | 204 | 418 | 376 | |
General and administrative expenses | 192 | 189 | 380 | 386 | |
Impairment of goodwill and other intangible assets | 0 | 0 | 0 | 0 | |
Restructuring activities | 1 | 7 | 2 | 10 | |
Total noninterest expenses | 395 | 400 | 800 | 774 | |
Noncontrolling interests | 49 | 36 | 98 | 70 | |
Profit (loss) before tax | 180 | 114 | 364 | 224 | |
Total assets | [1] | 10,000 | 10,000 | 10,000 | 10,000 |
Assets under Management | [1] | 859,000 | 745,000 | 859,000 | 745,000 |
Net flows | [1] | € 20,000 | € 9,000 | € 21,000 | € 6,000 |
[1] | As of quarter-end. |
Segment Results - Corporate D_5
Segment Results - Corporate Divisions - Capital Release Unit (Detail) - Capital Release Unit [Member] - EUR (€) € in Millions | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2021 | Jun. 30, 2020 | Jun. 30, 2021 | Jun. 30, 2020 | ||
Capital Release Unit [Line Items] | |||||
Net revenues | € (24) | € (66) | € 57 | € (123) | |
Provision for credit losses | (25) | 29 | (32) | 43 | |
Noninterest expenses [Abstract] | |||||
Compensation and benefits | 35 | 45 | 75 | 97 | |
General and administrative expenses | 223 | 451 | 681 | 1,092 | |
Impairment of goodwill and other intangible assets | 0 | 0 | 0 | 0 | |
Restructuring activities | 1 | 0 | 1 | 1 | |
Total noninterest expenses | 259 | 496 | 757 | 1,190 | |
Noncontrolling interests | 0 | 0 | 0 | 0 | |
Profit (loss) before tax | (258) | (591) | (668) | (1,356) | |
Total assets | [1] | € 167,000 | € 265,000 | € 167,000 | € 265,000 |
[1] | As of quarter-end. |
Segment Results - Corporate D_6
Segment Results - Corporate Divisions - Corporate & Other (Detail) - Corporate & Other [Member] - EUR (€) € in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2021 | Jun. 30, 2020 | Jun. 30, 2021 | Jun. 30, 2020 | |
Corporate & Other [Line Items] | ||||
Net revenues | € (2) | € (118) | € 241 | € (207) |
Provision for credit losses | (1) | 1 | (3) | 5 |
Noninterest expenses [Abstract] | ||||
Compensation and benefits | 870 | 944 | 1,762 | 1,894 |
General and administrative expenses | (789) | (912) | (1,524) | (1,749) |
Impairment of goodwill and other intangible assets | 0 | 0 | 0 | 0 |
Restructuring activities | 0 | 1 | 0 | 0 |
Total noninterest expenses | 81 | 34 | 237 | 145 |
Noncontrolling interests | (47) | (42) | (97) | (75) |
Profit (loss) before tax | € (34) | € (110) | € 103 | € (282) |
Segment Results - Corporate D_7
Segment Results - Corporate Divisions - Employees Only (Detail) | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2021 | Jun. 30, 2020 | Jun. 30, 2021 | Jun. 30, 2020 | ||
Corporate Bank [Member] | |||||
Segment Results of Operations [Line Items] | |||||
Number of Employees | [1] | 7,524 | 7,860 | 7,524 | 7,860 |
Investment Bank [Member] | |||||
Segment Results of Operations [Line Items] | |||||
Number of Employees | [2] | 4,212 | 4,270 | 4,212 | 4,270 |
Private Bank [Member] | |||||
Segment Results of Operations [Line Items] | |||||
Number of Employees | [3] | 29,153 | 30,967 | 29,153 | 30,967 |
Asset Management [Member] | |||||
Segment Results of Operations [Line Items] | |||||
Number of Employees | [4] | 3,953 | 3,901 | 3,953 | 3,901 |
Capital Release Unit [Member] | |||||
Segment Results of Operations [Line Items] | |||||
Number of Employees | [5] | 420 | 536 | 420 | 536 |
Corporate & Other [Member] | |||||
Segment Results of Operations [Line Items] | |||||
Number of Employees | [6] | 38,535 | 39,289 | 38,535 | 39,289 |
[1] | As of quarter-end. | ||||
[2] | As of quarter-end. | ||||
[3] | As of quarter-end. | ||||
[4] | As of quarter-end. | ||||
[5] | As of quarter-end. | ||||
[6] | As of quarter-end. |
Net Interest Income and Net G_3
Net Interest Income and Net Gains (Losses) on Financial Assets/Liabilities at Fair Value through Profit or Loss (Detail) - EUR (€) € in Millions | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2021 | Jun. 30, 2020 | Jun. 30, 2021 | Jun. 30, 2020 | ||
Net Interest Income and Net Gains (Losses) on Financial Assets/Liabilities at Fair Value through Profit or Loss [Line Items] | |||||
Net interest income | [1] | € 2,652 | € 3,096 | € 5,448 | € 6,357 |
Trading income | [1],[2] | 820 | 1,030 | 2,281 | 792 |
Net gains (losses) on non-trading financial assets mandatory at fair value through profit or loss | 175 | 143 | 202 | 64 | |
Net gains (losses) on financial assets/liabilities designated at fair value through profit or loss | (12) | (466) | 101 | 83 | |
Total net gains (losses) on financial assets/liabilities at fair value through profit or loss | 983 | 708 | 2,584 | 939 | |
Total net interest income and net gains (losses) on financial assets/liabilities at fair value through profit or loss | 3,635 | 3,803 | 8,033 | 7,296 | |
Corporate Treasury Services | 366 | 593 | 859 | 1,114 | |
Institutional Client Services | 78 | 84 | 167 | 183 | |
Business Banking | 131 | 141 | 270 | 272 | |
Corporate Bank | 575 | 818 | 1,297 | 1,569 | |
Investment Bank | 1,768 | 2,449 | 4,114 | 3,892 | |
FIC Sales & Trading | 1,775 | 2,392 | 4,153 | 3,768 | |
Remaining Products | (7) | 57 | (39) | 124 | |
Private Bank | 1,208 | 1,137 | 2,487 | 2,374 | |
Asset Management | 56 | 25 | 135 | (160) | |
Capital Release Unit | (18) | (154) | 51 | 41 | |
Corporate & Other | 45 | (471) | (51) | (419) | |
Total net interest income and net gains (losses) on financial assets/liabilities at fair value through profit or loss | € 3,635 | € 3,803 | € 8,033 | € 7,296 | |
[1] | Prior year segmental information has been reclassified to the current structure. | ||||
[2] | Trading income includes gains and losses from derivatives not qualifying for hedge accounting. |
Net Interest Income and Net G_4
Net Interest Income and Net Gains (Losses) on Financial Assets/Liabilities at Fair Value through P&L (Detail: Text Values) - EUR (€) € in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2021 | Jun. 30, 2020 | Jun. 30, 2021 | Jun. 30, 2020 | |
Net Interest Income [Abstract] | ||||
Net interest income related to government grants under the Targeted Longer-Term Refinancing Operations II (TLTRO II)-program | € 16 | € 32 | ||
Net interest income related to EU government grants under the Targeted Longer-Term Refinancing Operations III (TLTRO III) program | € 103 | € 282 | ||
Negative interest expense included in interest and similar income | 255 | 159 | 605 | 260 |
Negative interest income included in interest expense | € 171 | € 131 | € 402 | € 253 |
Commissions and Fee Income - Di
Commissions and Fee Income - Disaggregation of revenues by product type and business segment - based on IFRS 15 (Detail) - EUR (€) € in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2021 | Jun. 30, 2020 | Jun. 30, 2021 | Jun. 30, 2020 | |
Total Consolidated Segments [Domain Member] | ||||
Major type of services: [Abstract] | ||||
Commissions for administration | € 141 | € 129 | € 283 | € 257 |
Commissions for assets under management | 936 | 818 | 1,844 | 1,688 |
Commissions for other securities | 117 | 117 | 222 | 202 |
Underwriting and advisory fees | 564 | 413 | 1,151 | 866 |
Brokerage fees | 437 | 375 | 954 | 876 |
Commissions for local payments | 267 | 322 | 612 | 701 |
Commissions for foreign commercial business | 142 | 130 | 280 | 267 |
Commissions for foreign currency/exchange business | 3 | 2 | 6 | 6 |
Commissions for loan processing and guarantees | 290 | 244 | 560 | 501 |
Intermediary fees | 194 | 193 | 402 | 328 |
Fees for sundry other customer services | 230 | 173 | 461 | 353 |
Total fee and commissions income | 3,321 | 2,917 | 6,776 | 6,046 |
Gross expense | (747) | (690) | (1,463) | (1,380) |
Net fees and commissions | 2,574 | 2,227 | 5,313 | 4,666 |
Corporate Bank [Member] | ||||
Major type of services: [Abstract] | ||||
Commissions for administration | 59 | 63 | 120 | 124 |
Commissions for assets under management | 4 | 5 | 8 | 10 |
Commissions for other securities | 106 | 110 | 201 | 185 |
Underwriting and advisory fees | 9 | 5 | 21 | 15 |
Brokerage fees | 5 | 2 | 12 | 8 |
Commissions for local payments | 112 | 105 | 221 | 227 |
Commissions for foreign commercial business | 111 | 99 | 221 | 203 |
Commissions for foreign currency/exchange business | 2 | 1 | 4 | 2 |
Commissions for loan processing and guarantees | 135 | 126 | 275 | 247 |
Intermediary fees | 2 | 2 | 7 | 7 |
Fees for sundry other customer services | 62 | 62 | 134 | 138 |
Total fee and commissions income | 608 | 580 | 1,223 | 1,166 |
Investment Bank [Member] | ||||
Major type of services: [Abstract] | ||||
Commissions for administration | 10 | 4 | 23 | 6 |
Commissions for assets under management | 0 | 0 | 0 | 1 |
Commissions for other securities | 0 | 0 | 0 | 0 |
Underwriting and advisory fees | 566 | 418 | 1,151 | 859 |
Brokerage fees | 66 | 60 | 129 | 143 |
Commissions for local payments | 1 | (2) | 2 | 0 |
Commissions for foreign commercial business | 6 | 6 | 11 | 13 |
Commissions for foreign currency/exchange business | 0 | 0 | 0 | 0 |
Commissions for loan processing and guarantees | 79 | 43 | 130 | 94 |
Intermediary fees | (1) | 0 | 1 | 1 |
Fees for sundry other customer services | 128 | 69 | 242 | 131 |
Total fee and commissions income | 855 | 598 | 1,689 | 1,247 |
Private Bank [Member] | ||||
Major type of services: [Abstract] | ||||
Commissions for administration | 65 | 57 | 128 | 116 |
Commissions for assets under management | 88 | 79 | 176 | 159 |
Commissions for other securities | 10 | 8 | 21 | 16 |
Underwriting and advisory fees | 3 | 3 | 9 | 8 |
Brokerage fees | 318 | 256 | 715 | 615 |
Commissions for local payments | 151 | 220 | 385 | 475 |
Commissions for foreign commercial business | 25 | 26 | 50 | 52 |
Commissions for foreign currency/exchange business | 1 | 2 | 3 | 4 |
Commissions for loan processing and guarantees | 74 | 71 | 151 | 153 |
Intermediary fees | 191 | 188 | 387 | 313 |
Fees for sundry other customer services | 12 | 12 | 23 | 21 |
Total fee and commissions income | 940 | 922 | 2,046 | 1,932 |
Asset Management [Member] | ||||
Major type of services: [Abstract] | ||||
Commissions for administration | 6 | 6 | 11 | 12 |
Commissions for assets under management | 844 | 734 | 1,660 | 1,518 |
Commissions for other securities | 0 | 0 | 1 | 0 |
Underwriting and advisory fees | 0 | 0 | 0 | 0 |
Brokerage fees | 22 | 20 | 40 | 38 |
Commissions for local payments | 0 | 0 | 0 | 0 |
Commissions for foreign commercial business | 0 | 0 | 0 | 0 |
Commissions for foreign currency/exchange business | 0 | 0 | 0 | 0 |
Commissions for loan processing and guarantees | 0 | 0 | 0 | 0 |
Intermediary fees | 0 | 0 | 0 | 0 |
Fees for sundry other customer services | 27 | 29 | 59 | 61 |
Total fee and commissions income | 899 | 788 | 1,771 | 1,629 |
Capital Release Unit [Member] | ||||
Major type of services: [Abstract] | ||||
Commissions for administration | 1 | 0 | 2 | 0 |
Commissions for assets under management | 0 | 0 | 0 | 0 |
Commissions for other securities | 0 | 0 | 0 | 0 |
Underwriting and advisory fees | 0 | 0 | 0 | 0 |
Brokerage fees | 25 | 31 | 58 | 70 |
Commissions for local payments | 0 | 0 | 0 | 0 |
Commissions for foreign commercial business | 0 | 0 | 0 | 0 |
Commissions for foreign currency/exchange business | 0 | 0 | 0 | 0 |
Commissions for loan processing and guarantees | 2 | 3 | 3 | 5 |
Intermediary fees | 0 | 0 | 0 | 0 |
Fees for sundry other customer services | 0 | 1 | 2 | 3 |
Total fee and commissions income | 27 | 36 | 65 | 78 |
Corporate & Other [Member] | ||||
Major type of services: [Abstract] | ||||
Commissions for administration | (1) | (1) | (2) | (1) |
Commissions for assets under management | 0 | 0 | 0 | 0 |
Commissions for other securities | 0 | 0 | 0 | 0 |
Underwriting and advisory fees | (15) | (14) | (30) | (15) |
Brokerage fees | 1 | 5 | 0 | 2 |
Commissions for local payments | 3 | (1) | 4 | 0 |
Commissions for foreign commercial business | (1) | (1) | (1) | (1) |
Commissions for foreign currency/exchange business | 0 | 0 | 0 | 0 |
Commissions for loan processing and guarantees | 0 | 1 | 2 | 3 |
Intermediary fees | 2 | 2 | 6 | 7 |
Fees for sundry other customer services | 1 | 0 | 2 | 0 |
Total fee and commissions income | € (8) | € (6) | € (19) | € (5) |
Commissions and Fee Income - _2
Commissions and Fee Income - Disaggregation of revenues by product type and business segment - based on IFRS 15 (Detail: Text values) - EUR (€) € in Millions | Jun. 30, 2021 | Jun. 30, 2020 |
Disaggregation of revenues by product type and business segment - based on IFRS 15 [Abstract] | ||
Balance of receivables from commission and fee income | € 914 | € 964 |
Balance of contract liabilities associated to commission and fee income | € 65 | € 69 |
Gains and Losses on derecogni_3
Gains and Losses on derecognition of Financial Assets measured at Amortized Cost (Detail) - EUR (€) € in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2021 | Jun. 30, 2020 | Jun. 30, 2021 | Jun. 30, 2020 | |
Gain and Losses on derecognition of Financial Assets at Amortized Cost [Abstract] | ||||
Gains | € 0 | € 174 | € 0 | € 235 |
Losses | 0 | (3) | 0 | (3) |
Net gains (losses) from derecognition of securities measured at amortized cost | € 0 | € 171 | € 0 | € 232 |
Gains and Losses on derecogni_4
Gains and Losses on derecognition of Financial Assets measured at Amortized Cost (Detail: Text Value) - EUR (€) € in Millions | 6 Months Ended | |
Jun. 30, 2021 | Jun. 30, 2020 | |
Derecognition of Financial Assets at amortized cost [Abstract] | ||
Total Derecognition | € 42 | € 6,432 |
Restructuring - Net Restructuri
Restructuring - Net Restructuring Expense by Division (Detail) - EUR (€) € in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2021 | Jun. 30, 2020 | Jun. 30, 2021 | Jun. 30, 2020 | |
Corporate Bank [Member] | ||||
Net Restructuring Expense by Division [Line Items] | ||||
Total Net Restructuring Charges | € 5 | € 0 | € 17 | € 5 |
Investment Bank [Member] | ||||
Net Restructuring Expense by Division [Line Items] | ||||
Total Net Restructuring Charges | 11 | 11 | 12 | 15 |
Private Bank [Member] | ||||
Net Restructuring Expense by Division [Line Items] | ||||
Total Net Restructuring Charges | 69 | 104 | 71 | 166 |
Asset Management [Member] | ||||
Net Restructuring Expense by Division [Line Items] | ||||
Total Net Restructuring Charges | 1 | 7 | 2 | 10 |
Capital Release Unit [Member] | ||||
Net Restructuring Expense by Division [Line Items] | ||||
Total Net Restructuring Charges | 1 | 0 | 1 | 1 |
Corporate & Other [Member] | ||||
Net Restructuring Expense by Division [Line Items] | ||||
Total Net Restructuring Charges | 0 | 1 | 0 | 0 |
Total Net Restructuring Charges [Member] | ||||
Net Restructuring Expense by Division [Line Items] | ||||
Total Net Restructuring Charges | € 86 | € 123 | € 102 | € 197 |
Restructuring - Net Restructu_2
Restructuring - Net Restructuring Expense by Type (Detail) - EUR (€) € in Millions | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2021 | Jun. 30, 2020 | Jun. 30, 2021 | Jun. 30, 2020 | ||
Net Restructuring Expense by Type | |||||
Restructuring, Staff related | € 65 | € 127 | € 83 | € 201 | |
of which [Abstract] | |||||
Termination Payments | 63 | 106 | 81 | 180 | |
Retention Acceleration | 2 | 20 | 2 | 20 | |
Social Security | 0 | 1 | 0 | 1 | |
Restructuring, Non Staff related | [1] | 20 | (4) | 19 | (4) |
Total Net Restructuring Charges | € 86 | € 123 | € 102 | € 197 | |
[1] | Contract costs, mainly related to real estate and technology. |
Restructuring - Organizational
Restructuring - Organizational Changes (Detail) | 3 Months Ended | 6 Months Ended |
Jun. 30, 2021 | Jun. 30, 2021 | |
Corporate Bank [Member] | ||
Organizational Changes [Line Items] | ||
Total full-time equivalent staff | 16 | 31 |
Investment Bank [Member] | ||
Organizational Changes [Line Items] | ||
Total full-time equivalent staff | 0 | 10 |
Private Bank [Member] | ||
Organizational Changes [Line Items] | ||
Total full-time equivalent staff | 70 | 165 |
Asset Management [Member] | ||
Organizational Changes [Line Items] | ||
Total full-time equivalent staff | 1 | 11 |
Capital Release Unit [Member] | ||
Organizational Changes [Line Items] | ||
Total full-time equivalent staff | 2 | 5 |
Infrastructure [Member] | ||
Organizational Changes [Line Items] | ||
Total full-time equivalent staff | 18 | 53 |
Total full-time equivalent staff [Member] | ||
Organizational Changes [Line Items] | ||
Total full-time equivalent staff | 106 | 275 |
Restructuring - Net Restructu_3
Restructuring - Net Restructuring Expense by Division (Detail: Text Values) - EUR (€) € in Millions | Jun. 30, 2021 | Dec. 31, 2020 |
Net Restructuring Expense by Division | ||
Provisions for restructuring | € 666 | € 676 |
Effective Tax Rate (Detail_ Tex
Effective Tax Rate (Detail: Text Values) - EUR (€) € in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2021 | Jun. 30, 2020 | Jun. 30, 2021 | Jun. 30, 2020 | |
Effective Tax Rate [Abstract] | ||||
Effective tax rate | 28.00% | 61.00% | 32.00% | 72.00% |
Tax benefit as a result of the prospective increase in the UK tax rate from 27 percent to 33 percent, included in Income tax expense | € 20 | € 20 |
Financial Instruments carried_3
Financial Instruments carried at Fair Value - Carrying Value of The Financial Instruments held at Fair Value (Detail) - EUR (€) € in Millions | Jun. 30, 2021 | Dec. 31, 2020 | |
Quoted prices in active market (Level 1) | |||
Financial assets held at fair value: | |||
Trading assets | [1] | € 46,609 | € 44,525 |
Trading securities, assets | [1] | 46,449 | 44,349 |
Other trading assets | [1] | 160 | 176 |
Positive market values from derivative financial instruments | [1] | 3,938 | 4,208 |
Non-trading financial assets mandatory at fair value through profit and loss | [1] | 1,889 | 2,992 |
Financial assets designated at fair value through profit or loss | [1] | 0 | 0 |
Financial assets at fair value through other comprehensive income | [1] | 14,639 | 28,057 |
Other financial assets at fair value | [1] | 72 | 93 |
Total financial assets held at fair value | [1] | 67,147 | 79,875 |
Financial liabilities held at fair value: | |||
Trading liabilities | [1] | 45,181 | 36,699 |
Trading securities, liabilities | [1] | 45,145 | 36,674 |
Other trading liabilities | [1] | 35 | 25 |
Negative market values from derivative financial instruments | [1] | 4,756 | 4,430 |
Financial liabilities designated at fair value through profit or loss | [1] | 0 | 0 |
Investment contract liabilities | [1] | 0 | 0 |
Other financial liabilities at fair value | [1] | 16 | 799 |
Total financial liabilities held at fair value | [1] | 49,952 | 41,929 |
Valuation technique observable parameters (Level 2) | |||
Financial assets held at fair value: | |||
Trading assets | [1] | 57,694 | 55,220 |
Trading securities, assets | [1] | 52,616 | 50,340 |
Other trading assets | [1] | 5,077 | 4,880 |
Positive market values from derivative financial instruments | [1] | 261,434 | 330,561 |
Non-trading financial assets mandatory at fair value through profit and loss | [1] | 77,176 | 68,511 |
Financial assets designated at fair value through profit or loss | [1] | 84 | 436 |
Financial assets at fair value through other comprehensive income | [1] | 20,295 | 25,741 |
Other financial assets at fair value | [1],[2] | 6,069 | 9,238 |
Total financial assets held at fair value | [1] | 422,752 | 489,707 |
Financial liabilities held at fair value: | |||
Trading liabilities | [1] | 10,864 | 7,615 |
Trading securities, liabilities | [1] | 10,427 | 7,206 |
Other trading liabilities | [1] | 437 | 409 |
Negative market values from derivative financial instruments | [1] | 250,879 | 315,145 |
Financial liabilities designated at fair value through profit or loss | [1] | 52,043 | 45,622 |
Investment contract liabilities | [1] | 560 | 526 |
Other financial liabilities at fair value | [1],[2] | 3,814 | 3,573 |
Total financial liabilities held at fair value | [1] | 318,160 | 372,480 |
Valuation technique unobservable parameters (Level 3) | |||
Financial assets held at fair value: | |||
Trading assets | [1] | 7,817 | 8,183 |
Trading securities, assets | [1] | 3,666 | 3,066 |
Other trading assets | [1] | 4,152 | 5,117 |
Positive market values from derivative financial instruments | [1] | 8,518 | 8,725 |
Non-trading financial assets mandatory at fair value through profit and loss | [1] | 4,347 | 4,618 |
Financial assets designated at fair value through profit or loss | [1] | 6 | 0 |
Financial assets at fair value through other comprehensive income | [1] | 2,252 | 2,037 |
Other financial assets at fair value | [1] | 4 | 20 |
Total financial assets held at fair value | [1] | 22,943 | 23,583 |
Financial liabilities held at fair value: | |||
Trading liabilities | [1] | 76 | 2 |
Trading securities, liabilities | [1] | 18 | 2 |
Other trading liabilities | [1] | 58 | 0 |
Negative market values from derivative financial instruments | [1] | 8,930 | 8,200 |
Financial liabilities designated at fair value through profit or loss | [1] | 878 | 960 |
Investment contract liabilities | [1] | 0 | 0 |
Other financial liabilities at fair value | [1],[3] | (168) | (294) |
Total financial liabilities held at fair value | [1] | € 9,717 | € 8,867 |
[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” of the Annual Report 2020. | ||
[2] | Predominantly relates to derivatives qualifying for hedge accounting. | ||
[3] | 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. |
Financial Instruments carried_4
Financial Instruments carried at Fair Value - Carrying Value of The Financial Instruments held at Fair Value (Detail: Text Values) € in Millions | Jun. 30, 2021EUR (€) |
Carrying Value of The Financial Instruments held at Fair Value | |
Movement of Positive market values from derivative financial instruments from Level 3 to Level 2 due to refinement of levelling methodology | € 1,000 |
Movement of Negative market values from derivative financial instruments from Level 3 to Level 2 due to refinement of levelling methodology | 200 |
Transfers from Level 2 to Level 1 on trading securities (assets) | 6,000 |
Transfers from Level 2 to Level 1 on trading securities (liabilities) | 8,000 |
Transfers from Level 1 to Level 2 on trading securities (assets) | € 3,000 |
Financial Instruments carried_5
Financial Instruments carried at Fair Value - Reconciliation of Financial Instruments Categorized in Level 3 (Detail) - EUR (€) € in Millions | Jun. 30, 2021 | Jun. 30, 2020 | ||
Balance, beginning of period [Member] | ||||
Financial assets held at fair value [Abstract] | ||||
Trading securities, assets | € 3,066 | € 3,430 | ||
Positive market values from derivative financial instruments | 8,725 | 8,167 | ||
Other trading assets | 5,117 | 6,137 | ||
Non-trading financial assets mandatory at fair value through profit and loss | 4,618 | 5,278 | ||
Financial assets designated at fair value through profit or loss | 0 | 7 | ||
Financial assets at fair value through other comprehensive income | 2,037 | 1,050 | ||
Other financial assets at fair value | 20 | 363 | ||
Total financial assets held at fair value | 23,583 | 24,431 | ||
Financial liabilities held at fair value: | ||||
Trading securities, liabilities | 2 | 2 | ||
Negative market values from derivative financial instruments | 8,200 | 6,652 | ||
Other trading liabilities | 0 | 38 | ||
Financial liabilities designated at fair value through profit or loss | 960 | 1,954 | ||
Other financial liabilities at fair value | (294) | (34) | ||
Total financial liabilities held at fair value | 8,867 | 8,612 | ||
Changes in the group of consolidated companies [Member] | ||||
Financial assets held at fair value [Abstract] | ||||
Trading securities, assets | 0 | 0 | ||
Positive market values from derivative financial instruments | 0 | 0 | ||
Other trading assets | 0 | 0 | ||
Non-trading financial assets mandatory at fair value through profit and loss | 0 | 0 | ||
Financial assets designated at fair value through profit or loss | 0 | 0 | ||
Financial assets at fair value through other comprehensive income | 0 | 0 | ||
Other financial assets at fair value | 0 | 0 | ||
Total financial assets held at fair value | 0 | 0 | ||
Financial liabilities held at fair value: | ||||
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 | ||
Total gains/ losses [Member] | ||||
Financial assets held at fair value [Abstract] | ||||
Trading securities, assets | 394 | (72) | [1] | |
Positive market values from derivative financial instruments | (275) | 1,965 | [1] | |
Other trading assets | 114 | (312) | [1] | |
Non-trading financial assets mandatory at fair value through profit and loss | 229 | (38) | [1] | |
Financial assets designated at fair value through profit or loss | 0 | 0 | [1] | |
Financial assets at fair value through other comprehensive income | 37 | [2] | (19) | [1],[3] |
Other financial assets at fair value | (2) | 1 | [1] | |
Total financial assets held at fair value | 496 | [4],[5] | 1,525 | [1],[6],[7] |
Financial liabilities held at fair value: | ||||
Trading securities, liabilities | 0 | [8] | 0 | [1] |
Negative market values from derivative financial instruments | (656) | [8] | 1,521 | [1] |
Other trading liabilities | (6) | [8] | (1) | [1] |
Financial liabilities designated at fair value through profit or loss | (12) | [8] | (40) | [1] |
Other financial liabilities at fair value | 95 | [8] | (221) | [1] |
Total financial liabilities held at fair value | (579) | [4],[5] | 1,259 | [1],[6],[7] |
Purchases [Member] | ||||
Financial assets held at fair value [Abstract] | ||||
Trading securities, assets | 1,709 | 1,101 | ||
Positive market values from derivative financial instruments | 0 | 0 | ||
Other trading assets | 497 | 490 | ||
Non-trading financial assets mandatory at fair value through profit and loss | 218 | 161 | ||
Financial assets designated at fair value through profit or loss | 0 | 0 | ||
Financial assets at fair value through other comprehensive income | 43 | 292 | ||
Other financial assets at fair value | 0 | 0 | ||
Total financial assets held at fair value | 2,468 | 2,044 | ||
Financial liabilities held at fair value: | ||||
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 | (1,476) | (1,477) | ||
Positive market values from derivative financial instruments | 0 | 0 | ||
Other trading assets | (1,439) | (1,143) | ||
Non-trading financial assets mandatory at fair value through profit and loss | (184) | (181) | ||
Financial assets designated at fair value through profit or loss | 0 | 0 | ||
Financial assets at fair value through other comprehensive income | (22) | 0 | ||
Other financial assets at fair value | 0 | 0 | ||
Total financial assets held at fair value | (3,120) | (2,801) | ||
Financial liabilities held at fair value: | ||||
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 | 0 | [9] | 0 | [10] |
Positive market values from derivative financial instruments | 0 | [9] | 0 | [10] |
Other trading assets | 390 | [9] | 919 | [10] |
Non-trading financial assets mandatory at fair value through profit and loss | 132 | [9] | 199 | [10] |
Financial assets designated at fair value through profit or loss | 5 | [9] | 0 | [10] |
Financial assets at fair value through other comprehensive income | 338 | [9] | 0 | [10] |
Other financial assets at fair value | 0 | [9] | 0 | [10] |
Total financial assets held at fair value | 865 | [9] | 1,118 | [10] |
Financial liabilities held at fair value: | ||||
Trading securities, liabilities | 0 | [9] | 0 | [10] |
Negative market values from derivative financial instruments | 0 | [9] | 0 | [10] |
Other trading liabilities | 0 | [9] | 0 | [10] |
Financial liabilities designated at fair value through profit or loss | 45 | [9] | 146 | [10] |
Other financial liabilities at fair value | 0 | [9] | 0 | [10] |
Total financial liabilities held at fair value | 45 | [9] | 146 | [10] |
Settlements [Member] | ||||
Financial assets held at fair value [Abstract] | ||||
Trading securities, assets | (80) | [11] | (135) | [12] |
Positive market values from derivative financial instruments | (465) | [11] | (307) | [12] |
Other trading assets | (592) | [11] | (515) | [12] |
Non-trading financial assets mandatory at fair value through profit and loss | (207) | [11] | (426) | [12] |
Financial assets designated at fair value through profit or loss | 0 | [11] | 0 | [12] |
Financial assets at fair value through other comprehensive income | (236) | [11] | (99) | [12] |
Other financial assets at fair value | 0 | [11] | (1) | [12] |
Total financial assets held at fair value | (1,580) | [11] | (1,483) | [12] |
Financial liabilities held at fair value: | ||||
Trading securities, liabilities | (2) | [11] | 0 | [12] |
Negative market values from derivative financial instruments | (166) | [11] | 3 | [12] |
Other trading liabilities | 0 | [11] | (9) | [12] |
Financial liabilities designated at fair value through profit or loss | (202) | [11] | (509) | [12] |
Other financial liabilities at fair value | (8) | [11] | (1) | [12] |
Total financial liabilities held at fair value | (378) | [11] | (516) | [12] |
Transfers into Level 3 [Member] | ||||
Financial assets held at fair value [Abstract] | ||||
Trading securities, assets | 663 | [13] | 610 | [14] |
Positive market values from derivative financial instruments | 2,951 | [13] | 1,651 | [14] |
Other trading assets | 542 | [13] | 660 | [14] |
Non-trading financial assets mandatory at fair value through profit and loss | 47 | [13] | 667 | [14] |
Financial assets designated at fair value through profit or loss | 0 | [13] | 0 | [14] |
Financial assets at fair value through other comprehensive income | 274 | [13] | 333 | [14] |
Other financial assets at fair value | 3 | [13] | 79 | [14] |
Total financial assets held at fair value | 4,479 | [13] | 4,000 | [14] |
Financial liabilities held at fair value: | ||||
Trading securities, liabilities | 18 | [13] | 0 | [14] |
Negative market values from derivative financial instruments | 3,016 | [13] | 1,273 | [14] |
Other trading liabilities | 64 | [13] | 0 | [14] |
Financial liabilities designated at fair value through profit or loss | 180 | [13] | 180 | [14] |
Other financial liabilities at fair value | 2 | [13] | 8 | [14] |
Total financial liabilities held at fair value | 3,281 | [13] | 1,462 | [14] |
Transfers out of Level 3 [Member] | ||||
Financial assets held at fair value [Abstract] | ||||
Trading securities, assets | (611) | [13] | (421) | [14] |
Positive market values from derivative financial instruments | (2,418) | [13] | (1,560) | [14] |
Other trading assets | (477) | [13] | (232) | [14] |
Non-trading financial assets mandatory at fair value through profit and loss | (506) | [13] | (787) | [14] |
Financial assets designated at fair value through profit or loss | 0 | [13] | (6) | [14] |
Financial assets at fair value through other comprehensive income | (220) | [13] | (246) | [14] |
Other financial assets at fair value | (17) | [13] | (194) | [14] |
Total financial assets held at fair value | (4,248) | [13] | (3,447) | [14] |
Financial liabilities held at fair value: | ||||
Trading securities, liabilities | 0 | [13] | (2) | [14] |
Negative market values from derivative financial instruments | (1,464) | [13] | (1,318) | [14] |
Other trading liabilities | 0 | [13] | (28) | [14] |
Financial liabilities designated at fair value through profit or loss | (93) | [13] | (208) | [14] |
Other financial liabilities at fair value | 37 | [13] | (44) | [14] |
Total financial liabilities held at fair value | (1,520) | [13] | (1,601) | [14] |
Balance, end of period [Member] | ||||
Financial assets held at fair value [Abstract] | ||||
Trading securities, assets | 3,666 | 3,035 | ||
Positive market values from derivative financial instruments | 8,518 | 9,915 | ||
Other trading assets | 4,152 | 6,004 | ||
Non-trading financial assets mandatory at fair value through profit and loss | 4,347 | 4,872 | ||
Financial assets designated at fair value through profit or loss | 6 | 1 | ||
Financial assets at fair value through other comprehensive income | 2,252 | 1,311 | ||
Other financial assets at fair value | 4 | 249 | ||
Total financial assets held at fair value | 22,943 | 25,387 | ||
Financial liabilities held at fair value: | ||||
Trading securities, liabilities | 18 | 0 | ||
Negative market values from derivative financial instruments | 8,930 | 8,131 | ||
Other trading liabilities | 58 | 0 | ||
Financial liabilities designated at fair value through profit or loss | 878 | 1,522 | ||
Other financial liabilities at fair value | (168) | (292) | ||
Total financial liabilities held at fair value | € 9,717 | € 9,361 | ||
[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 at fair value through other comprehensive income reported in the consolidated statement of income and unrealized net gains (losses) on financial assets at fair value through other comprehensive income 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] | Total gains and losses on financial assets mandatory at fair value through OCI include a gain of € 7 million | |||
[3] | Total gains and losses on financial assets mandatory at fair value through OCI include a loss of € 14 million | |||
[4] | For assets, positive balances represent gains, negative balances represent losses. For liabilities, positive balances represent losses, negative balances represent gains. | |||
[5] | This amount includes the effect of exchange rate changes. For total financial assets held at fair value this effect is a gain of € 168 million € 16 million | |||
[6] | For assets, positive balances represent gains, negative balances represent losses. For liabilities, positive balances represent losses, negative balances represent gains. | |||
[7] | This amount includes the effect of exchange rate changes. For total financial assets held at fair value this effect is a loss of € 119 million € 12 million | |||
[8] | 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 at fair value through other comprehensive income reported in the consolidated statement of income and unrealized net gains (losses) on financial assets at fair value through other comprehensive income 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. | |||
[9] | 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. | |||
[10] | 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. | |||
[11] | 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. | |||
[12] | 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. | |||
[13] | Transfers in and transfers out of Level 3 are related to changes in observability of input parameters. During the period 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 period since the table is presented as if they have been transferred out at the beginning of the year. | |||
[14] | Transfers in and transfers out of Level 3 are related to changes in observability of input parameters. During the period 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 period since the table is presented as if they have been transferred out at the beginning of the year. |
Financial Instruments carried_6
Financial Instruments carried at Fair Value - Reconciliation of Financial Instruments Categorized in Level 3 (Detail: Text Values) - Total gains/ losses [Member] - EUR (€) € in Millions | 6 Months Ended | |
Jun. 30, 2021 | Jun. 30, 2020 | |
Financial assets at fair value through other comprehensive income [Abstract] | ||
of which gain (loss) recognized in other comprehensive income | € 7 | € (14) |
Financial assets held at fair value: | ||
of which effect of exchange rate changes | 168 | (119) |
Financial liabilities held at fair value: | ||
of which effect of exchange rate changes | € (16) | € 12 |
Financial Instruments carried_7
Financial Instruments carried at Fair Value - Sensitivity Analysis by Type of Instrument (Detail) - Valuation technique unobservable parameters (Level 3) - EUR (€) € in Millions | Jun. 30, 2021 | Dec. 31, 2020 | ||
Positive fair value movement from using reasonable possible alternatives [Member] | ||||
Securities: | ||||
Debt securities | [1] | € 435 | € 287 | |
Commercial mortgage-backed securities | [1] | 12 | 9 | |
Mortgage and other asset-backed securities | [1] | 9 | 20 | |
Corporate, sovereign and other debt securities | [1] | 414 | 259 | |
Equity securities | [1] | 77 | 83 | |
Derivatives [Abstract] | ||||
Credit | [1] | 157 | 283 | |
Equity | [1] | 219 | 257 | |
Interest related | [1] | 307 | 306 | |
Foreign exchange | [1] | 35 | 37 | |
Other | [1] | 109 | 93 | |
Loans [Abstract] | ||||
Loans | [1] | 426 | 483 | |
Other | [1] | 0 | 0 | |
Total | [1] | 1,766 | 1,829 | |
Negative fair value movement from using reasonable possible alternatives [Member] | ||||
Securities: | ||||
Debt securities | [1] | 326 | 201 | [2] |
Commercial mortgage-backed securities | [1] | 21 | 22 | |
Mortgage and other asset-backed securities | [1] | 7 | 12 | |
Corporate, sovereign and other debt securities | [1] | 297 | 167 | [2] |
Equity securities | [1] | 59 | 57 | [2] |
Derivatives [Abstract] | ||||
Credit | [1] | 115 | 185 | |
Equity | [1] | 203 | 238 | |
Interest related | [1] | 269 | 266 | |
Foreign exchange | [1] | 30 | 32 | |
Other | [1] | 91 | 82 | |
Loans [Abstract] | ||||
Loans | [1] | 247 | 306 | |
Other | [1] | 0 | 0 | |
Total | [1] | € 1,340 | € 1,367 | |
[1] | Where the exposure to an unobservable parameter is offset across different instruments then only the net impact is disclosed in the table. | |||
[2] | Reassessment of trades have resulted a reclassification in Negative fair value movement from using reasonable possible alternatives in ‘Corporate, sovereign and other debt securities’ from ‘Equity securities’ |
Financial Instruments carried_8
Financial Instruments carried at Fair Value - Sensitivity Analysis by Type of Instrument (Detail: Text Values) € in Millions | Jun. 30, 2021EUR (€) |
Changes in sensitive amounts from December 31, 2020 | |
Reduction in positive fair value movement | € 63 |
Reduction in negative fair value movement | 27 |
Level 3 assets as of December 31, 2020 | 23,600 |
Level 3 assets as of June 30, 2021 | € 22,900 |
Financial Instruments carried_9
Financial Instruments carried at Fair Value - Financial instruments classified in Level 3 and quantitative information about unobservable inputs (Detail) - Valuation technique unobservable parameters (Level 3) € in Millions | 6 Months Ended | 12 Months Ended | |||
Jun. 30, 2021EUR (€) | Dec. 31, 2020EUR (€) | ||||
Assets [Member] | Fair Value Level 3 | Fair Value Level 3 | |||||
Financial instruments held at fair value - Non-Derivative financial instruments held at fair value: Mortgage and other asset backed securities held for trading: | |||||
Commercial mortgage-backed securities | € 36 | € 28 | |||
Mortgage and other asset-backed securities | 108 | 155 | |||
Total mortgage- and other asset-backed securities | 144 | 183 | |||
Debt securities and other debt obligations [Abstract] | |||||
Debt securites and other debt obligations | 4,753 | 4,625 | |||
Equity securities [Abstract] | |||||
Equity securities | 1,046 | 727 | |||
Loans, at fair value [Abstract] | |||||
Loans, at Fair Value | 6,978 | 7,888 | |||
Loan commitments [Abstract] | |||||
Loan commitments (financial instruments) | 0 | 0 | |||
Other financial instruments [Abstract] | |||||
Other financial instruments | 1,504 | [1] | 1,432 | [2] | |
Total non-derivative financial instruments held at fair value | 14,425 | 14,854 | |||
Financial instruments held at fair value: Market values from derivative financial instruments: | |||||
Interest rates derivatives | 4,963 | 4,708 | |||
Credit derivatives | 747 | 575 | |||
Equity derivatives | 777 | 800 | |||
FX derivatives | 1,214 | 1,749 | |||
Other derivatives | 816 | 898 | |||
Total market values from derivative financial instruments | 8,518 | 8,729 | |||
Liabilities [Member] | Fair Value Level 3 | Fair Value Level 3 | |||||
Financial instruments held at fair value - Non-Derivative financial instruments held at fair value: 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 securities and other debt obligations [Abstract] | |||||
Debt securites and other debt obligations | 835 | 769 | |||
Equity securities [Abstract] | |||||
Equity securities | 0 | 0 | |||
Loans, at fair value [Abstract] | |||||
Loans, at Fair Value | 58 | 0 | |||
Loan commitments [Abstract] | |||||
Loan commitments (financial instruments) | 2 | 1 | |||
Other financial instruments [Abstract] | |||||
Other financial instruments | 65 | [3] | 198 | [4] | |
Total non-derivative financial instruments held at fair value | 961 | 968 | |||
Financial instruments held at fair value: Market values from derivative financial instruments: | |||||
Interest rates derivatives | 4,526 | 4,025 | |||
Credit derivatives | 589 | 585 | |||
Equity derivatives | 2,265 | 1,916 | |||
FX derivatives | 1,142 | 1,427 | |||
Other derivatives | [5] | 234 | (54) | ||
Total market values from derivative financial instruments | € 8,756 | € 7,899 | |||
Financial Instruments classified in Level 3, Valuation Techniques, Significant unobservable input, Range Bottom [Member] | Valuation technique(s) : Price based | Price, in percent [Member] | |||||
Financial instruments held at fair value - Non-Derivative financial instruments held at fair value: Mortgage and other asset backed securities held for trading: | |||||
Commercial Mortgage Backed Securities, significant unobservable input, percent | [6] | 0.00% | 0.00% | ||
Mortgage and other asset-backed securities, significant unobsevable input, percent | [6] | 0.00% | 0.00% | ||
Debt securities and other debt obligations [Abstract] | |||||
Debt securities and other debt obligations, significant unobservable input, percent | [6] | 0.00% | 0.00% | ||
Equity securities [Abstract] | |||||
Equity securities, significant unobservable input, percent | [6] | 0.00% | 0.00% | ||
Loans, at fair value [Abstract] | |||||
Loans, significant unobservable input, percent | [6] | 0.00% | 0.00% | ||
Financial Instruments classified in Level 3, Valuation Techniques, Significant unobservable input, Range Bottom [Member] | Valuation technique(s) : Discounted Cashflow | Credit Spread, in bps [Member] | |||||
Financial instruments held at fair value - Non-Derivative financial instruments held at fair value: Mortgage and other asset backed securities held for trading: | |||||
Commercial Mortgage Backed Securities, significant unobservable input, absolute | [6] | 80 | 133 | ||
Mortgage and other asset-backed securities, significant unobservable input, absolute | [6] | 0 | 109 | ||
Debt securities and other debt obligations [Abstract] | |||||
Debt securities and other debt obligations, significant unobservable input, absolute | [6] | 12 | 21 | ||
Loans, at fair value [Abstract] | |||||
Loans, significant unobservable input, absolute | [6] | 160 | 51 | ||
Loan commitments [Abstract] | |||||
Loan commitments, significant unobservable input, absolute | [6] | 6 | 6 | ||
Financial instruments held at fair value: Market values from derivative financial instruments: | |||||
Credit derivatives, significant unobservable input, absolute | [6] | 0 | 0 | ||
Other derivatives, significant unobservable input, absolute | [6] | 0 | 0 | ||
Financial Instruments classified in Level 3, Valuation Techniques, Significant unobservable input, Range Bottom [Member] | Valuation technique(s) : Discounted Cashflow | Recovery Rate, in percent [Member] | |||||
Financial instruments held at fair value - Non-Derivative financial instruments held at fair value: Mortgage and other asset backed securities held for trading: | |||||
Mortgage and other asset-backed securities, significant unobsevable input, percent | [6] | 60.00% | 10.00% | ||
Loans, at fair value [Abstract] | |||||
Loans, significant unobservable input, percent | [6] | 10.00% | 20.00% | ||
Loan commitments [Abstract] | |||||
Loan commitments, significant unobservable input, percent | [6] | 10.00% | 25.00% | ||
Financial instruments held at fair value: Market values from derivative financial instruments: | |||||
Credit derivatives, significant unobservable input, percent | [6] | 0.00% | 0.00% | ||
Financial Instruments classified in Level 3, Valuation Techniques, Significant unobservable input, Range Bottom [Member] | Valuation technique(s) : Discounted Cashflow | Constant Default Rate, in percent [Member] | |||||
Financial instruments held at fair value - Non-Derivative financial instruments held at fair value: Mortgage and other asset backed securities held for trading: | |||||
Mortgage and other asset-backed securities, significant unobsevable input, percent | [6] | 0.00% | 1.00% | ||
Financial instruments held at fair value: Market values from derivative financial instruments: | |||||
Interest rates derivatives, significant unobservable input, percent | [6] | 0.00% | 0.00% | ||
Financial Instruments classified in Level 3, Valuation Techniques, Significant unobservable input, Range Bottom [Member] | Valuation technique(s) : Discounted Cashflow | Constant Prepayment Rate, in percent [Member] | |||||
Financial instruments held at fair value - Non-Derivative financial instruments held at fair value: Mortgage and other asset backed securities held for trading: | |||||
Mortgage and other asset-backed securities, significant unobsevable input, percent | [6] | 0.00% | 1.00% | ||
Financial instruments held at fair value: Market values from derivative financial instruments: | |||||
Interest rates derivatives, significant unobservable input, percent | [6] | 5.00% | 2.00% | ||
Financial Instruments classified in Level 3, Valuation Techniques, Significant unobservable input, Range Bottom [Member] | Valuation technique(s) : Discounted Cashflow | Weighted Average Cost Capital, in percent [Member] | |||||
Equity securities [Abstract] | |||||
Equity securities, significant unobservable input, percent | [6] | 8.00% | 8.00% | ||
Financial Instruments classified in Level 3, Valuation Techniques, Significant unobservable input, Range Bottom [Member] | Valuation technique(s) : Discounted Cashflow | IRR, in percent [Member] | |||||
Other financial instruments [Abstract] | |||||
Other financial instruments, significant unobservable input, percent | [6] | 7.00% | 7.00% | ||
Financial Instruments classified in Level 3, Valuation Techniques, Significant unobservable input, Range Bottom [Member] | Valuation technique(s) : Discounted Cashflow | Repo Rate, in bps [Member] | |||||
Other financial instruments [Abstract] | |||||
Other financial instruments, significant unobservable input, absolute | [6] | (2) | 0 | ||
Financial Instruments classified in Level 3, Valuation Techniques, Significant unobservable input, Range Bottom [Member] | Valuation technique(s) : Discounted Cashflow | Swap rate, in bps [Member] | |||||
Financial instruments held at fair value: Market values from derivative financial instruments: | |||||
Interest rates derivatives, significant unobservable input, absolute | [6] | (70) | (77) | ||
Financial Instruments classified in Level 3, Valuation Techniques, Significant unobservable input, Range Bottom [Member] | Valuation technique(s) : Discounted Cashflow | Inflation Swap Rate, in percent [Member] | |||||
Financial instruments held at fair value: Market values from derivative financial instruments: | |||||
Interest rates derivatives, significant unobservable input, percent | [6] | 0.00% | 1.00% | ||
Financial Instruments classified in Level 3, Valuation Techniques, Significant unobservable input, Range Bottom [Member] | Valuation technique(s) : Market Approach | Price, in percent [Member] | |||||
Equity securities [Abstract] | |||||
Equity securities, significant unobservable input, percent | [6] | 0.00% | 42.00% | ||
Financial Instruments classified in Level 3, Valuation Techniques, Significant unobservable input, Range Bottom [Member] | Valuation technique(s) : Market Approach | Enterprise value EBITDA, multiple [Member] | |||||
Equity securities [Abstract] | |||||
Equity securities, significant unobservable input, absolute | [6] | 5 | 5 | ||
Financial Instruments classified in Level 3, Valuation Techniques, Significant unobservable input, Range Bottom [Member] | Loan pricing model | Utilization, in percent [Member] | |||||
Loan commitments [Abstract] | |||||
Loan commitments, significant unobservable input, percent | [6] | 0.00% | 0.00% | ||
Financial Instruments classified in Level 3, Valuation Techniques, Significant unobservable input, Range Bottom [Member] | Valuation technique(s) : option pricing model | Inflation Volatility, in percent [Member] | |||||
Financial instruments held at fair value: Market values from derivative financial instruments: | |||||
Interest rates derivatives, significant unobservable input, percent | [6] | 0.00% | 0.00% | ||
Financial Instruments classified in Level 3, Valuation Techniques, Significant unobservable input, Range Bottom [Member] | Valuation technique(s) : option pricing model | Interest Rate Volatility, in percent [Member] | |||||
Financial instruments held at fair value: Market values from derivative financial instruments: | |||||
Interest rates derivatives, significant unobservable input, percent | [6] | 0.00% | 0.00% | ||
Financial Instruments classified in Level 3, Valuation Techniques, Significant unobservable input, Range Bottom [Member] | Valuation technique(s) : option pricing model | IR correlation, in percent [member] | |||||
Financial instruments held at fair value: Market values from derivative financial instruments: | |||||
Interest rates derivatives, significant unobservable input, percent | [6] | (25.00%) | (25.00%) | ||
Financial Instruments classified in Level 3, Valuation Techniques, Significant unobservable input, Range Bottom [Member] | Valuation technique(s) : option pricing model | Hybrid correlation, in percent [Member] | |||||
Financial instruments held at fair value: Market values from derivative financial instruments: | |||||
Interest rates derivatives, significant unobservable input, percent | [6] | (70.00%) | (70.00%) | ||
Financial Instruments classified in Level 3, Valuation Techniques, Significant unobservable input, Range Bottom [Member] | Valuation technique(s) : option pricing model | Stock Volatility, in percent [Member] | |||||
Financial instruments held at fair value: Market values from derivative financial instruments: | |||||
Equity derivatives, significant unobservable input, percent | [6] | 4.00% | 4.00% | ||
Financial Instruments classified in Level 3, Valuation Techniques, Significant unobservable input, Range Bottom [Member] | Valuation technique(s) : option pricing model | Index Volatility, in percent [Member] | |||||
Financial instruments held at fair value: Market values from derivative financial instruments: | |||||
Equity derivatives, significant unobservable input, percent | [6] | 8.00% | 17.00% | ||
Other derivatives, significant unobservable input, percent | [6] | 0.00% | 0.00% | ||
Financial Instruments classified in Level 3, Valuation Techniques, Significant unobservable input, Range Bottom [Member] | Valuation technique(s) : option pricing model | Index Correlation [Member] | |||||
Financial instruments held at fair value: Market values from derivative financial instruments: | |||||
Equity derivatives, significant unobservable input, absolute | [6] | 75 | 68 | ||
Financial Instruments classified in Level 3, Valuation Techniques, Significant unobservable input, Range Bottom [Member] | Valuation technique(s) : option pricing model | Stock Correlation, in percent [Member] | |||||
Financial instruments held at fair value: Market values from derivative financial instruments: | |||||
Equity derivatives, significant unobservable input, percent | [6] | 41.00% | 41.00% | ||
Financial Instruments classified in Level 3, Valuation Techniques, Significant unobservable input, Range Bottom [Member] | Valuation technique(s) : option pricing model | Stock Forwards, in percent [Member] | |||||
Financial instruments held at fair value: Market values from derivative financial instruments: | |||||
Equity derivatives, significant unobservable input, percent | [6] | 0.00% | 0.00% | ||
Financial Instruments classified in Level 3, Valuation Techniques, Significant unobservable input, Range Bottom [Member] | Valuation technique(s) : option pricing model | Index Forwards, in percent [Member] | |||||
Financial instruments held at fair value: Market values from derivative financial instruments: | |||||
Equity derivatives, significant unobservable input, percent | [6] | 0.00% | 0.00% | ||
Financial Instruments classified in Level 3, Valuation Techniques, Significant unobservable input, Range Bottom [Member] | Valuation technique(s) : option pricing model | Volatility, in percent [Member] | |||||
Financial instruments held at fair value: Market values from derivative financial instruments: | |||||
FX derivatives, significant unobservable input, percent | [6] | (17.00%) | (16.00%) | ||
Financial Instruments classified in Level 3, Valuation Techniques, Significant unobservable input, Range Bottom [Member] | Valuation technique(s) : option pricing model | Commodity Correlation, in percent [Member] | |||||
Financial instruments held at fair value: Market values from derivative financial instruments: | |||||
Other derivatives, significant unobservable input, percent | [6] | 0.00% | 16.00% | ||
Financial Instruments classified in Level 3, Valuation Techniques, Significant unobservable input, Range Bottom [Member] | Correlation pricing model | Credit correlation, in percent [Member] | |||||
Financial instruments held at fair value: Market values from derivative financial instruments: | |||||
Credit derivatives, significant unobservable input, percent | [6] | 16.00% | 31.00% | ||
Financial Instruments classified in Level 3, Valuation Techniques, Significant unobservable input, Range Top [Member] | Valuation technique(s) : Price based | Price, in percent [Member] | |||||
Financial instruments held at fair value - Non-Derivative financial instruments held at fair value: Mortgage and other asset backed securities held for trading: | |||||
Commercial Mortgage Backed Securities, significant unobservable input, percent | [6] | 112.00% | 114.00% | ||
Mortgage and other asset-backed securities, significant unobsevable input, percent | [6] | 105.00% | 106.00% | ||
Debt securities and other debt obligations [Abstract] | |||||
Debt securities and other debt obligations, significant unobservable input, percent | [6] | 198.00% | 200.00% | ||
Equity securities [Abstract] | |||||
Equity securities, significant unobservable input, percent | [6] | 100.00% | 108.00% | ||
Loans, at fair value [Abstract] | |||||
Loans, significant unobservable input, percent | [6] | 326.00% | 373.00% | ||
Financial Instruments classified in Level 3, Valuation Techniques, Significant unobservable input, Range Top [Member] | Valuation technique(s) : Discounted Cashflow | Credit Spread, in bps [Member] | |||||
Financial instruments held at fair value - Non-Derivative financial instruments held at fair value: Mortgage and other asset backed securities held for trading: | |||||
Commercial Mortgage Backed Securities, significant unobservable input, absolute | [6] | 1,220 | 1,270 | ||
Mortgage and other asset-backed securities, significant unobservable input, absolute | [6] | 1,130 | 1,295 | ||
Debt securities and other debt obligations [Abstract] | |||||
Debt securities and other debt obligations, significant unobservable input, absolute | [6] | 542 | 544 | ||
Loans, at fair value [Abstract] | |||||
Loans, significant unobservable input, absolute | [6] | 1,764 | 2,233 | ||
Loan commitments [Abstract] | |||||
Loan commitments, significant unobservable input, absolute | [6] | 3,038 | 2,444 | ||
Financial instruments held at fair value: Market values from derivative financial instruments: | |||||
Credit derivatives, significant unobservable input, absolute | [6] | 1,086 | 1,759 | ||
Other derivatives, significant unobservable input, absolute | [6] | 0 | 0 | ||
Financial Instruments classified in Level 3, Valuation Techniques, Significant unobservable input, Range Top [Member] | Valuation technique(s) : Discounted Cashflow | Recovery Rate, in percent [Member] | |||||
Financial instruments held at fair value - Non-Derivative financial instruments held at fair value: Mortgage and other asset backed securities held for trading: | |||||
Mortgage and other asset-backed securities, significant unobsevable input, percent | [6] | 100.00% | 90.00% | ||
Loans, at fair value [Abstract] | |||||
Loans, significant unobservable input, percent | [6] | 85.00% | 85.00% | ||
Loan commitments [Abstract] | |||||
Loan commitments, significant unobservable input, percent | [6] | 100.00% | 100.00% | ||
Financial instruments held at fair value: Market values from derivative financial instruments: | |||||
Credit derivatives, significant unobservable input, percent | [6] | 40.00% | 77.00% | ||
Financial Instruments classified in Level 3, Valuation Techniques, Significant unobservable input, Range Top [Member] | Valuation technique(s) : Discounted Cashflow | Constant Default Rate, in percent [Member] | |||||
Financial instruments held at fair value - Non-Derivative financial instruments held at fair value: Mortgage and other asset backed securities held for trading: | |||||
Mortgage and other asset-backed securities, significant unobsevable input, percent | [6] | 3.00% | 2.00% | ||
Financial instruments held at fair value: Market values from derivative financial instruments: | |||||
Interest rates derivatives, significant unobservable input, percent | [6] | 15.00% | 10.00% | ||
Financial Instruments classified in Level 3, Valuation Techniques, Significant unobservable input, Range Top [Member] | Valuation technique(s) : Discounted Cashflow | Constant Prepayment Rate, in percent [Member] | |||||
Financial instruments held at fair value - Non-Derivative financial instruments held at fair value: Mortgage and other asset backed securities held for trading: | |||||
Mortgage and other asset-backed securities, significant unobsevable input, percent | [6] | 26.00% | 25.00% | ||
Financial instruments held at fair value: Market values from derivative financial instruments: | |||||
Interest rates derivatives, significant unobservable input, percent | [6] | 23.00% | 30.00% | ||
Financial Instruments classified in Level 3, Valuation Techniques, Significant unobservable input, Range Top [Member] | Valuation technique(s) : Discounted Cashflow | Weighted Average Cost Capital, in percent [Member] | |||||
Equity securities [Abstract] | |||||
Equity securities, significant unobservable input, percent | [6] | 20.00% | 20.00% | ||
Financial Instruments classified in Level 3, Valuation Techniques, Significant unobservable input, Range Top [Member] | Valuation technique(s) : Discounted Cashflow | IRR, in percent [Member] | |||||
Other financial instruments [Abstract] | |||||
Other financial instruments, significant unobservable input, percent | [6] | 16.00% | 16.00% | ||
Financial Instruments classified in Level 3, Valuation Techniques, Significant unobservable input, Range Top [Member] | Valuation technique(s) : Discounted Cashflow | Repo Rate, in bps [Member] | |||||
Other financial instruments [Abstract] | |||||
Other financial instruments, significant unobservable input, absolute | [6] | 300 | 75 | ||
Financial Instruments classified in Level 3, Valuation Techniques, Significant unobservable input, Range Top [Member] | Valuation technique(s) : Discounted Cashflow | Swap rate, in bps [Member] | |||||
Financial instruments held at fair value: Market values from derivative financial instruments: | |||||
Interest rates derivatives, significant unobservable input, absolute | [6] | 843 | 787 | ||
Financial Instruments classified in Level 3, Valuation Techniques, Significant unobservable input, Range Top [Member] | Valuation technique(s) : Discounted Cashflow | Inflation Swap Rate, in percent [Member] | |||||
Financial instruments held at fair value: Market values from derivative financial instruments: | |||||
Interest rates derivatives, significant unobservable input, percent | [6] | 3.00% | 3.00% | ||
Financial Instruments classified in Level 3, Valuation Techniques, Significant unobservable input, Range Top [Member] | Valuation technique(s) : Market Approach | Price, in percent [Member] | |||||
Equity securities [Abstract] | |||||
Equity securities, significant unobservable input, percent | [6] | 106.00% | 100.00% | ||
Financial Instruments classified in Level 3, Valuation Techniques, Significant unobservable input, Range Top [Member] | Valuation technique(s) : Market Approach | Enterprise value EBITDA, multiple [Member] | |||||
Equity securities [Abstract] | |||||
Equity securities, significant unobservable input, absolute | [6] | 17 | 23 | ||
Financial Instruments classified in Level 3, Valuation Techniques, Significant unobservable input, Range Top [Member] | Loan pricing model | Utilization, in percent [Member] | |||||
Loan commitments [Abstract] | |||||
Loan commitments, significant unobservable input, percent | [6] | 100.00% | 100.00% | ||
Financial Instruments classified in Level 3, Valuation Techniques, Significant unobservable input, Range Top [Member] | Valuation technique(s) : option pricing model | Inflation Volatility, in percent [Member] | |||||
Financial instruments held at fair value: Market values from derivative financial instruments: | |||||
Interest rates derivatives, significant unobservable input, percent | [6] | 9.00% | 8.00% | ||
Financial Instruments classified in Level 3, Valuation Techniques, Significant unobservable input, Range Top [Member] | Valuation technique(s) : option pricing model | Interest Rate Volatility, in percent [Member] | |||||
Financial instruments held at fair value: Market values from derivative financial instruments: | |||||
Interest rates derivatives, significant unobservable input, percent | [6] | 22.00% | 19.00% | ||
Financial Instruments classified in Level 3, Valuation Techniques, Significant unobservable input, Range Top [Member] | Valuation technique(s) : option pricing model | IR correlation, in percent [member] | |||||
Financial instruments held at fair value: Market values from derivative financial instruments: | |||||
Interest rates derivatives, significant unobservable input, percent | [6] | 99.00% | 97.00% | ||
Financial Instruments classified in Level 3, Valuation Techniques, Significant unobservable input, Range Top [Member] | Valuation technique(s) : option pricing model | Hybrid correlation, in percent [Member] | |||||
Financial instruments held at fair value: Market values from derivative financial instruments: | |||||
Interest rates derivatives, significant unobservable input, percent | [6] | 100.00% | 100.00% | ||
Financial Instruments classified in Level 3, Valuation Techniques, Significant unobservable input, Range Top [Member] | Valuation technique(s) : option pricing model | Stock Volatility, in percent [Member] | |||||
Financial instruments held at fair value: Market values from derivative financial instruments: | |||||
Equity derivatives, significant unobservable input, percent | [6] | 99.00% | 85.00% | ||
Financial Instruments classified in Level 3, Valuation Techniques, Significant unobservable input, Range Top [Member] | Valuation technique(s) : option pricing model | Index Volatility, in percent [Member] | |||||
Financial instruments held at fair value: Market values from derivative financial instruments: | |||||
Equity derivatives, significant unobservable input, percent | [6] | 81.00% | 75.00% | ||
Other derivatives, significant unobservable input, percent | [6] | 98.00% | 113.00% | ||
Financial Instruments classified in Level 3, Valuation Techniques, Significant unobservable input, Range Top [Member] | Valuation technique(s) : option pricing model | Index Correlation [Member] | |||||
Financial instruments held at fair value: Market values from derivative financial instruments: | |||||
Equity derivatives, significant unobservable input, absolute | [6] | 91 | 96 | ||
Financial Instruments classified in Level 3, Valuation Techniques, Significant unobservable input, Range Top [Member] | Valuation technique(s) : option pricing model | Stock Correlation, in percent [Member] | |||||
Financial instruments held at fair value: Market values from derivative financial instruments: | |||||
Equity derivatives, significant unobservable input, percent | [6] | 60.00% | 67.00% | ||
Financial Instruments classified in Level 3, Valuation Techniques, Significant unobservable input, Range Top [Member] | Valuation technique(s) : option pricing model | Stock Forwards, in percent [Member] | |||||
Financial instruments held at fair value: Market values from derivative financial instruments: | |||||
Equity derivatives, significant unobservable input, percent | [6] | 5.00% | 5.00% | ||
Financial Instruments classified in Level 3, Valuation Techniques, Significant unobservable input, Range Top [Member] | Valuation technique(s) : option pricing model | Index Forwards, in percent [Member] | |||||
Financial instruments held at fair value: Market values from derivative financial instruments: | |||||
Equity derivatives, significant unobservable input, percent | [6] | 5.00% | 4.00% | ||
Financial Instruments classified in Level 3, Valuation Techniques, Significant unobservable input, Range Top [Member] | Valuation technique(s) : option pricing model | Volatility, in percent [Member] | |||||
Financial instruments held at fair value: Market values from derivative financial instruments: | |||||
FX derivatives, significant unobservable input, percent | [6] | 33.00% | 42.00% | ||
Financial Instruments classified in Level 3, Valuation Techniques, Significant unobservable input, Range Top [Member] | Valuation technique(s) : option pricing model | Commodity Correlation, in percent [Member] | |||||
Financial instruments held at fair value: Market values from derivative financial instruments: | |||||
Other derivatives, significant unobservable input, percent | [6] | 0.00% | 52.00% | ||
Financial Instruments classified in Level 3, Valuation Techniques, Significant unobservable input, Range Top [Member] | Correlation pricing model | Credit correlation, in percent [Member] | |||||
Financial instruments held at fair value: Market values from derivative financial instruments: | |||||
Credit derivatives, significant unobservable input, percent | [6] | 84.00% | 63.00% | ||
Assets: Held for Trading [Member] | Fair Value Level 3 | Fair Value Level 3 | |||||
Debt securities and other debt obligations [Abstract] | |||||
Debt securites and other debt obligations | € 3,148 | € 2,813 | |||
Corporate, sovereign and other debt securities (held for trading) | 3,148 | 2,813 | |||
Equity securities [Abstract] | |||||
Equity securities | 374 | 70 | |||
Loans, at fair value [Abstract] | |||||
Loans, at Fair Value | 4,137 | 5,101 | |||
Assets: Non-Trading mandatory at fair value through profit or loss [Member] | Fair Value Level 3 | Fair Value Level 3 | |||||
Debt securities and other debt obligations [Abstract] | |||||
Debt securites and other debt obligations | 1,432 | 1,652 | |||
Equity securities [Abstract] | |||||
Equity securities | 672 | 657 | |||
Loans, at fair value [Abstract] | |||||
Loans, at Fair Value | 758 | 910 | |||
Assets: Designated at fair value through profit or loss [Member] | Fair Value Level 3 | Fair Value Level 3 | |||||
Debt securities and other debt obligations [Abstract] | |||||
Debt securites and other debt obligations | 0 | 0 | |||
Loans, at fair value [Abstract] | |||||
Loans, at Fair Value | 5 | ||||
Assets: At fair value through other comprehensive income [Member] | Fair Value Level 3 | Fair Value Level 3 | |||||
Debt securities and other debt obligations [Abstract] | |||||
Debt securites and other debt obligations | 173 | 160 | |||
Loans, at fair value [Abstract] | |||||
Loans, at Fair Value | 2,079 | 1,877 | |||
Liabilities: Held for Trading [Member] | Fair Value Level 3 | Fair Value Level 3 | |||||
Debt securities and other debt obligations [Abstract] | |||||
Debt securites and other debt obligations | 18 | 2 | |||
Equity securities [Abstract] | |||||
Equity securities | 0 | 0 | |||
Loans, at fair value [Abstract] | |||||
Loans, at Fair Value | 58 | 0 | |||
Liabilities: Designated at fair value through profit or loss [Member] | Fair Value Level 3 | Fair Value Level 3 | |||||
Debt securities and other debt obligations [Abstract] | |||||
Debt securites and other debt obligations | 817 | € 768 | |||
Loans, at fair value [Abstract] | |||||
Loans, at Fair Value | € 0 | ||||
[1] | Other financial assets include € 15 million € 1.5 billion | ||||
[2] | Other financial assets include € 16 million € 1.4 billion | ||||
[3] | Other financial liabilities include € 59 million € 6 million | ||||
[4] | Other financial liabilities include € 192 million € 6 million | ||||
[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. |
Financial Instruments carrie_10
Financial Instruments carried at Fair Value - Financial instruments classified in Level 3 and quantitative information about unobservable inputs (Detail: Text Values) - Valuation technique unobservable parameters (Level 3) - EUR (€) € in Millions | Jun. 30, 2021 | Dec. 31, 2020 |
Assets [Member] | ||
Included in other financial assets [Abstract] | ||
Other trading assets | € 15 | € 16 |
Other financial assets mandatory at fair value | 1,500 | 1,400 |
Liabilities [Member] | ||
Included in other financial liabilities [Abstract] | ||
Securities sold under repurchase agreements designated at fair value | 59 | 192 |
Other financial liabilities designated at fair value | € 6 | € 6 |
Financial Instruments carrie_11
Financial Instruments carried at Fair Value - 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 | Jun. 30, 2021 | Jun. 30, 2020 |
Financial assets held at fair value [Abstract] | ||
Trading securities, assets | € 298 | € (30) |
Positive market values from derivative financial instruments | 184 | 2,300 |
Other trading assets | 64 | (207) |
Non-trading financial assets mandatory at fair value through profit and loss | 156 | 40 |
Financial assets designated at fair value through profit or loss | 1 | 1 |
Financial assets at fair value through other comprehensive income | 3 | 0 |
Other financial assets at fair value | (3) | 8 |
Total financial assets held at fair value | 702 | 2,111 |
Financial liabilities held at fair value: | ||
Trading securities, liabilities | 0 | 0 |
Negative market values from derivative financial instruments | 159 | (1,787) |
Other trading liabilities | 6 | 0 |
Financial liabilities designated at fair value through profit or loss | 14 | 41 |
Other financial liabilities at fair value | (95) | 219 |
Total financial liabilities held at fair value | 84 | (1,527) |
Total | € 785 | € 584 |
Financial Instruments carrie_12
Financial Instruments carried at Fair Value - Recognition of Trade Date Profit (Detail) - EUR (€) € in Millions | 6 Months Ended | |
Jun. 30, 2021 | Jun. 30, 2020 | |
Recognitions of Trade Date Profit | ||
Balance, beginning of period | € 454 | € 441 |
New trades during the period | 55 | 205 |
Amortization | (77) | (70) |
Matured trades | (47) | (85) |
Subsequent move to observability | 0 | (9) |
Exchange rate changes | 1 | (1) |
Balance, end of period | € 386 | € 480 |
Fair Value of Financial Instr_3
Fair Value of Financial Instruments not carried at Fair Value - Estimated Fair Value of the Financial Instruments not carried at Fair Value (Detail) - EUR (€) € in Millions | Jun. 30, 2021 | Dec. 31, 2020 | |
Carrying value [Member] | |||
Financial assets: | |||
Cash and central bank balances | [1] | € 198,268 | € 166,208 |
Interbank balances (w/o central banks) | [1] | 8,359 | 9,130 |
Central bank funds sold and securities purchased under resale agreements | [1] | 8,519 | 8,533 |
Securities borrowed | [1] | 33 | 0 |
Loans | [1] | 440,747 | 426,691 |
Other financial assets | [1] | 120,688 | 94,069 |
Financial liabilities: | |||
Deposits | [1] | 581,490 | 567,745 |
Central bank funds purchased and securities sold under repurchase agreements | [1] | 3,144 | 2,325 |
Securities loaned | [1] | 1,123 | 1,697 |
Other short-term borrowings | [1] | 3,428 | 3,553 |
Other financial liabilities | [1] | 115,371 | 96,602 |
Long-term debt | [1] | 149,139 | 149,163 |
Trust preferred securities | [1] | 1,044 | 1,321 |
Fair value [Member] | |||
Financial assets: | |||
Cash and central bank balances | [1] | 198,268 | 166,208 |
Interbank balances (w/o central banks) | [1] | 8,359 | 9,132 |
Central bank funds sold and securities purchased under resale agreements | [1] | 8,528 | 8,519 |
Securities borrowed | [1] | 33 | 0 |
Loans | [1] | 446,302 | 434,442 |
Other financial assets | [1] | 120,930 | 94,393 |
Financial liabilities: | |||
Deposits | [1] | 581,804 | 568,172 |
Central bank funds purchased and securities sold under repurchase agreements | [1] | 3,141 | 2,328 |
Securities loaned | [1] | 1,123 | 1,697 |
Other short-term borrowings | [1] | 3,430 | 3,556 |
Other financial liabilities | [1] | 115,371 | 96,602 |
Long-term debt | [1] | 151,534 | 150,691 |
Trust preferred securities | [1] | € 1,095 | € 1,069 |
[1] | Amounts 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” of the Group’s Annual Report 2020. |
Shares Issued and Outstanding_2
Shares Issued and Outstanding (Detail) - Shares Issued and Outstanding [Member] - shares | Jun. 30, 2021 | Dec. 31, 2020 |
Shares Issued and Outstanding, in million [Line Items] | ||
Shares issued | 2,066.8 | 2,066.8 |
Shares in treasury | 3 | 1.3 |
of which [Abstract] | ||
Buyback | 3 | 1.3 |
Other | 0 | 0 |
Shares outstanding | 2,063.7 | 2,065.4 |
Allowance for Credit Losses on
Allowance for Credit Losses on Balance Sheet Positions (Detail) - Allowance for credit losses on balance sheet positions [Member] - EUR (€) € in Millions | 6 Months Ended | |||
Jun. 30, 2021 | [1] | Jun. 30, 2020 | [2] | |
Allowance Account for Credit Losses of Financial Assets [Member] | ||||
Allowance for Credit Losses [Line Items] | ||||
Allowance for loan losses, beginning of year | € 4,946 | € 4,093 | ||
Movements in financial assets including new business | 154 | 1,248 | ||
Transfers due to changes in creditworthiness | 0 | [3] | 0 | [4] |
Changes in models | 0 | 0 | ||
Financial assets that have been derecognized during the period | (226) | [5] | (280) | [6] |
Recovery of written off amounts | 33 | 23 | ||
Foreign exchange and other changes | (21) | (47) | ||
Allowance for loan losses, end of year | 4,886 | 5,037 | ||
Provision for Credit Losses excluding country risk | 154 | [7],[8] | 1,248 | [9],[10] |
Stage 1 [Member] | ||||
Allowance for Credit Losses [Line Items] | ||||
Allowance for loan losses, beginning of year | 544 | 549 | ||
Movements in financial assets including new business | (201) | 108 | ||
Transfers due to changes in creditworthiness | 98 | [3] | 39 | [4] |
Changes in models | 0 | 0 | ||
Financial assets that have been derecognized during the period | 0 | [5] | 0 | [6] |
Recovery of written off amounts | 0 | 0 | ||
Foreign exchange and other changes | 8 | (14) | ||
Allowance for loan losses, end of year | 448 | 683 | ||
Provision for Credit Losses excluding country risk | (104) | [7],[8] | 148 | [9],[10] |
Stage 2 [Member] | ||||
Allowance for Credit Losses [Line Items] | ||||
Allowance for loan losses, beginning of year | 648 | 492 | ||
Movements in financial assets including new business | 101 | 401 | ||
Transfers due to changes in creditworthiness | (113) | [3] | (93) | [4] |
Changes in models | 0 | 0 | ||
Financial assets that have been derecognized during the period | 0 | [5] | 0 | [6] |
Recovery of written off amounts | 0 | 0 | ||
Foreign exchange and other changes | (3) | (5) | ||
Allowance for loan losses, end of year | 634 | 796 | ||
Provision for Credit Losses excluding country risk | (12) | [7],[8] | 308 | [9],[10] |
Stage 3 [Member] | ||||
Allowance for Credit Losses [Line Items] | ||||
Allowance for loan losses, beginning of year | 3,614 | 3,015 | ||
Movements in financial assets including new business | 237 | 668 | ||
Transfers due to changes in creditworthiness | 15 | [3] | 54 | [4] |
Changes in models | 0 | 0 | ||
Financial assets that have been derecognized during the period | (226) | [5] | (280) | [6] |
Recovery of written off amounts | 26 | 23 | ||
Foreign exchange and other changes | (28) | (43) | ||
Allowance for loan losses, end of year | 3,638 | 3,438 | ||
Provision for Credit Losses excluding country risk | 252 | [7],[8] | 722 | [9],[10] |
Stage 3 POCI [Member] | ||||
Allowance for Credit Losses [Line Items] | ||||
Allowance for loan losses, beginning of year | 139 | 36 | ||
Movements in financial assets including new business | 17 | 71 | ||
Changes in models | 0 | 0 | ||
Financial assets that have been derecognized during the period | 0 | [5] | 0 | [6] |
Recovery of written off amounts | 8 | 0 | ||
Foreign exchange and other changes | 2 | 14 | ||
Allowance for loan losses, end of year | 166 | 121 | ||
Provision for Credit Losses excluding country risk | € 17 | [7],[8] | € 71 | [9],[10] |
[1] | Allowance for credit losses does not include allowance for country risk amounting to € 4 million | |||
[2] | Allowance for credit losses does not include allowance for country risk amounting to € 5 million | |||
[3] | Transfers due to changes in creditworthiness” shows the CLA Movements due to stage transfer prior to ECL remeasurement. | |||
[4] | Transfers due to changes in creditworthiness” shows the CLA Movements due to stage transfer prior to ECL remeasurement. | |||
[5] | This position includes charge offs of allowance for credit losses. | |||
[6] | This position includes charge offs of allowance for credit losses. | |||
[7] | Credit Loss Provision does include € 5 million | |||
[8] | 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. | |||
[9] | Credit Loss Provision does include € 42 million | |||
[10] | 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 Credit Losses off
Allowance for Credit Losses off Balance Sheet Positions (Detail) - Allowance for credit losses off balance sheet positions [Member] - EUR (€) € in Millions | 6 Months Ended | |||
Jun. 30, 2021 | Jun. 30, 2020 | [2] | ||
Allowance Account for Credit Losses of Financial Assets [Member] | ||||
Allowance for Credit Losses [Line Items] | ||||
Allowance off-balance sheet, beginning of year | € 419 | [1] | € 342 | |
Movements in financial assets including new business | (23) | [1] | 35 | |
Transfers due to changes in creditworthiness | 0 | [1],[3] | 0 | [4] |
Changes in models | 0 | [1] | 0 | |
Foreign exchange and other changes | 4 | [1] | 26 | |
Allowance off-balance sheet, end of year | 400 | [1] | 403 | |
of which: Financial guarantees | 268 | |||
Provision for Credit Losses excluding country risk | (23) | [1],[5] | 35 | [6] |
Stage 1 [Member] | ||||
Allowance for Credit Losses [Line Items] | ||||
Allowance off-balance sheet, beginning of year | 144 | [1] | 128 | |
Movements in financial assets including new business | (41) | [1] | 1 | |
Transfers due to changes in creditworthiness | (5) | [1],[3] | (2) | [4] |
Changes in models | 0 | [1] | 0 | |
Foreign exchange and other changes | 2 | [1] | 7 | |
Allowance off-balance sheet, end of year | 100 | [1] | 134 | |
of which: Financial guarantees | 64 | |||
Provision for Credit Losses excluding country risk | (46) | [1],[5] | (1) | [6] |
Stage 2 [Member] | ||||
Allowance for Credit Losses [Line Items] | ||||
Allowance off-balance sheet, beginning of year | 74 | [1] | 48 | |
Movements in financial assets including new business | 21 | [1] | 33 | |
Transfers due to changes in creditworthiness | 1 | [1],[3] | 0 | [4] |
Changes in models | 0 | [1] | 0 | |
Foreign exchange and other changes | 5 | [1] | 8 | |
Allowance off-balance sheet, end of year | 101 | [1] | 89 | |
of which: Financial guarantees | 61 | |||
Provision for Credit Losses excluding country risk | 22 | [1],[5] | 33 | [6] |
Stage 3 [Member] | ||||
Allowance for Credit Losses [Line Items] | ||||
Allowance off-balance sheet, beginning of year | 200 | [1] | 166 | |
Movements in financial assets including new business | (3) | [1] | 2 | |
Transfers due to changes in creditworthiness | 4 | [1],[3] | 1 | [4] |
Changes in models | 0 | [1] | 0 | |
Foreign exchange and other changes | (2) | [1] | 11 | |
Allowance off-balance sheet, end of year | 199 | [1] | 180 | |
of which: Financial guarantees | 143 | |||
Provision for Credit Losses excluding country risk | 1 | [1],[5] | 4 | [6] |
Stage 3 POCI [Member] | ||||
Allowance for Credit Losses [Line Items] | ||||
Allowance off-balance sheet, beginning of year | 0 | [1] | 0 | |
Movements in financial assets including new business | 0 | [1] | 0 | |
Changes in models | 0 | [1] | 0 | |
Foreign exchange and other changes | 0 | [1] | 0 | |
Allowance off-balance sheet, end of year | 0 | [1] | 0 | |
of which: Financial guarantees | 0 | |||
Provision for Credit Losses excluding country risk | € 0 | [1],[5] | € 0 | [6] |
[1] | Allowance for credit losses does not include allowance for country risk amounting to € 5 million | |||
[2] | Allowance for credit losses does not include allowance for country risk amounting to € 4 million | |||
[3] | Transfers due to changes in creditworthiness” shows the CLA Movements due to stage transfer prior to ECL remeasurement. | |||
[4] | Transfers due to changes in creditworthiness” shows the CLA Movements due to stage transfer prior to ECL remeasurement. | |||
[5] | 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. | |||
[6] | 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 Credit Losses (De
Allowance for Credit Losses (Detail: Text Values) - EUR (€) € in Millions | 6 Months Ended | |
Jun. 30, 2021 | Jun. 30, 2020 | |
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 | € 4 | € 5 |
Reimbursement gain included in Provision for credit losses excluding country risk | 5 | 42 |
Allowance for country risk not included in Allowance for credit losses for Off-balance Sheet Positions | € 5 | € 4 |
Allowance for Credit Losses For
Allowance for Credit Losses Forward Looking Information (Detail: Text Values) - EUR (€) € in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2021 | Jun. 30, 2020 | Jun. 30, 2021 | Jun. 30, 2020 | |
Information Credit Risk Management IFRS 9 subchapter [Abstract] | ||||
Provision for credit losses | € 75 | € 761 | € 144 | € 1,267 |
Provisions - Parenthetical Inf
Provisions - Parenthetical Information Note 29 Provisions (Detail: Text Values) - EUR (€) € in Millions | Jun. 30, 2021 | Dec. 31, 2020 |
Civil litigation matters [Abstract] | ||
Provisions | € 500 | € 400 |
Aggregate future loss, more than remote but less than probable | 2,000 | 2,100 |
Regulatory enforcement matters [Abstract] | ||
Provisions | 400 | 500 |
Aggregate future loss, more than remote but less than probable | 100 | € 200 |
BGH judgment (Voidness of certain clauses used in the Banks General Terms and Conditions) [Abstract] | ||
Civil litigation class provision | € 130 |
Long-Term Debt (Detail)
Long-Term Debt (Detail) - EUR (€) € in Millions | Jun. 30, 2021 | Dec. 31, 2020 |
Debt Seniority [Domain Member] | ||
By remaining maturities [Abstract] | ||
Total long-term debt | € 149,139 | € 149,163 |
Senior debt, Bonds and notes [Member] | ||
By remaining maturities [Abstract] | ||
Fixed rate | 67,011 | 67,496 |
Floating rate | 21,275 | 25,895 |
Other | 52,112 | 48,103 |
Subordinated debt, Bonds and notes [Member] | ||
By remaining maturities [Abstract] | ||
Fixed rate | 7,102 | 6,049 |
Floating rate | 1,346 | 1,303 |
Other | € 293 | € 316 |
Credit related Commitments an_3
Credit related Commitments and Contingent Liabilities - Credit Related Commitments and Contingent Liabilities (Detail) - EUR (€) € in Millions | Jun. 30, 2021 | Dec. 31, 2020 |
Commitments and Contingent Liabilities [Line Items] | ||
Irrevocable lending commitments | € 178,517 | € 165,643 |
Revocable lending commitments | 50,666 | 50,233 |
Contingent liabilities | 52,738 | 47,978 |
Total | € 281,922 | € 263,854 |
Credit related Commitments an_4
Credit related Commitments and Contingent Liabilities - Other Commitments and Contingent Liabilities (Detail) - EUR (€) € in Millions | 6 Months Ended | 12 Months Ended |
Jun. 30, 2021 | Dec. 31, 2020 | |
Other Commitments and Contingent Liabilities [Abstract] | ||
Other commitments | € 151 | € 144 |
Other contingent liabilities | 76 | 73 |
Total | € 227 | € 217 |
Credit related Commitments an_5
Credit related Commitments and Contingent Liabilities - Irrevocable payment commitments with regard to levies (Detail: Text Values) - EUR (€) € in Millions | 6 Months Ended | 12 Months Ended |
Jun. 30, 2021 | Dec. 31, 2020 | |
Commitments and Contingent Liabilities [Abstract] | ||
Irrevocable payment commitments related to bank levy according to Bank Recovery and Resolution Directive (BRRD), the Single Resolution Fund (SRF) and the German statutory deposit protection | € 1,000 | € 915.6 |
Related Party Transactions - Tr
Related Party Transactions - Transactions with Subsidiaries, Joint Ventures and Associates - Loans Issued and Guarantees Granted (Detail) - EUR (€) € in Millions | 6 Months Ended | 12 Months Ended | ||
Jun. 30, 2021 | Dec. 31, 2020 | |||
Loans (Transactions with Subsidiaries, Joint Ventures and Associates) | ||||
Loans outstanding, beginning of period | € 214 | [1] | € 228 | |
Movement in loans during the period | 104 | (19) | ||
Changes in the group of consolidated companies | 0 | 0 | ||
Exchange rate changes/other | (192) | 5 | ||
Loans outstanding, end of period | [1] | 126 | 214 | |
Other credit risk related transactions: | ||||
Allowance for loan losses | 0 | 0 | ||
Provision for loan losses | 0 | 0 | ||
Guarantees and commitments | € 130 | € 42 | ||
[1] | There were no past due loans as of June 30, 2021 and December 31, 2020. For the above loans, the Group held collateral of € 5 million € 5 million |
Related Party Transactions - _2
Related Party Transactions - Transactions with Subsidiaries, Joint Ventures and Associates - Deposits Received (Detail) - EUR (€) € in Millions | 6 Months Ended | 12 Months Ended |
Jun. 30, 2021 | Dec. 31, 2020 | |
Deposits (Transactions with Subsidiaries, Joint Ventures and Associates) | ||
Deposits, beginning of period | € 49 | € 58 |
Movement in deposits during the period | 1 | (8) |
Changes in the group of consolidated companies | 0 | 0 |
Exchange rate changes/other | 0 | 0 |
Deposits, end of period | € 50 | € 49 |
Related Party Transactions - Ke
Related Party Transactions - Key Mgm - Guarantees - Loans past due - Other Transactions (Detail: Text Values) - EUR (€) € in Millions | 6 Months Ended | 12 Months Ended |
Jun. 30, 2021 | Dec. 31, 2020 | |
Loans Issued and Guarantees Granted [Abstract] | ||
Key Management Loans and commitments | € 6 | € 8 |
Key Management Deposits | 20 | 21 |
Collateral held for loans outstanding | 5 | 5 |
Trading assets and positive market values from derivative financial transactions with associated companies | 28 | 1 |
Trading liabilities and negative market values from derivative financial transactions with associated companies | 0 | 0 |
Other assets related to transactions with associated companies | 69 | 55 |
Other liabilities related to transactions with associated companies | € 2 | € 2 |
Non-Current Assets and Dispos_2
Non-Current Assets and Disposal Groups Held for Sale - Components of Other Non-Current Assets and Disposal Groups Held for Sale (Detail: Text Values) - EUR (€) € in Millions | Jun. 30, 2021 | Dec. 31, 2020 |
Components of Other Non-Current Assets and Disposal Groups Held for Sale [Abstract] | ||
Total assets held for sale | € 4,400 | € 6,100 |
Liabilities included in disposal groups | 8,700 | 9,900 |
Unrealized net gains or losses relating to non-current assets and disposal groups classified as held for sale recognized directly in accumulated other comprehensive income (loss) | € 0 | |
Transfer of Global Prime Finance and Electronic Equities platform to BNP Paribas S.A. [Abstract] | ||
Assets held for sale established in CRU | 4,400 | |
Liabilities held for sale established in CRU | € 8,700 |
IBOR Transition (Detail)
IBOR Transition (Detail) € in Millions | Jun. 30, 2021EUR (€) | |
USD IBOR [Member] | ||
Interest Rate Benchmark Reform [Line Items] | ||
Total financial assets | € 1,802,574 | |
Non-Derivative Financial assets [Abstract] | ||
Bonds (FRN) | 394 | |
Securitisations | 80 | |
Syndicated Loans | 24,739 | |
Repos / Other Secured Lending | 286 | |
Loans / Advances (Total Limit) | 10,223 | |
Retail / Commercial Mortgages | 293 | |
Other | 998 | |
Derivative Financial assets [Abstract] | ||
Interest Rate Derivatives Exchange Traded | 15,987 | [1] |
Interest Rate Derivatives OTC | 1,561,120 | [1] |
Other OTC Derivatives | 188,453 | |
Total financial liabilities | 1,744,722 | |
Non-Derivative Financial liabilities [Abstract] | ||
Bonds (FRN) | 6,376 | |
Securitisations | 11 | |
Deposits | 3,222 | |
Other | 35 | |
Derivative Financial liabilities [Abstract] | ||
Interest Rate Derivatives OTC | 1,552,468 | |
Other OTC Derivatives | 182,610 | [1] |
Off-balance sheet [Abstract] | ||
Loan Commitments | 57,369 | |
Other Commitments | 10 | |
Finanical Guarantees | 0 | |
Total off-balance sheet | 57,380 | |
GBP IBOR [Member] | ||
Interest Rate Benchmark Reform [Line Items] | ||
Total financial assets | 835,387 | |
Non-Derivative Financial assets [Abstract] | ||
Bonds (FRN) | 0 | |
Securitisations | 16 | |
Syndicated Loans | 3,702 | |
Repos / Other Secured Lending | 0 | |
Loans / Advances (Total Limit) | 3,513 | |
Retail / Commercial Mortgages | 0 | |
Other | 143 | |
Derivative Financial assets [Abstract] | ||
Interest Rate Derivatives Exchange Traded | 81,621 | [1] |
Interest Rate Derivatives OTC | 740,229 | [1] |
Other OTC Derivatives | 6,163 | |
Total financial liabilities | 771,403 | |
Non-Derivative Financial liabilities [Abstract] | ||
Bonds (FRN) | 758 | |
Securitisations | 8 | |
Deposits | 0 | |
Other | 2 | |
Derivative Financial liabilities [Abstract] | ||
Interest Rate Derivatives OTC | 762,906 | |
Other OTC Derivatives | 7,729 | [1] |
Off-balance sheet [Abstract] | ||
Loan Commitments | 3,025 | |
Other Commitments | 0 | |
Finanical Guarantees | 0 | |
Total off-balance sheet | 3,025 | |
CHF IBOR [Member] | ||
Interest Rate Benchmark Reform [Line Items] | ||
Total financial assets | 76,307 | |
Non-Derivative Financial assets [Abstract] | ||
Bonds (FRN) | 0 | |
Securitisations | 0 | |
Syndicated Loans | 907 | |
Repos / Other Secured Lending | 0 | |
Loans / Advances (Total Limit) | 168 | |
Retail / Commercial Mortgages | 0 | |
Other | 0 | |
Derivative Financial assets [Abstract] | ||
Interest Rate Derivatives Exchange Traded | 2,396 | [1] |
Interest Rate Derivatives OTC | 71,273 | [1] |
Other OTC Derivatives | 1,562 | |
Total financial liabilities | 70,191 | |
Non-Derivative Financial liabilities [Abstract] | ||
Bonds (FRN) | 0 | |
Securitisations | 0 | |
Deposits | 0 | |
Other | 0 | |
Derivative Financial liabilities [Abstract] | ||
Interest Rate Derivatives OTC | 67,577 | |
Other OTC Derivatives | 2,614 | [1] |
Off-balance sheet [Abstract] | ||
Loan Commitments | 682 | |
Other Commitments | 0 | |
Finanical Guarantees | 0 | |
Total off-balance sheet | 682 | |
JPY IBOR [Member] | ||
Interest Rate Benchmark Reform [Line Items] | ||
Total financial assets | 500,753 | |
Non-Derivative Financial assets [Abstract] | ||
Bonds (FRN) | 0 | |
Securitisations | 0 | |
Syndicated Loans | 39 | |
Repos / Other Secured Lending | 0 | |
Loans / Advances (Total Limit) | 150 | |
Retail / Commercial Mortgages | 53 | |
Other | 0 | |
Derivative Financial assets [Abstract] | ||
Interest Rate Derivatives Exchange Traded | 0 | [1] |
Interest Rate Derivatives OTC | 499,656 | [1] |
Other OTC Derivatives | 854 | |
Total financial liabilities | 483,843 | |
Non-Derivative Financial liabilities [Abstract] | ||
Bonds (FRN) | 21 | |
Securitisations | 0 | |
Deposits | 19 | |
Other | 0 | |
Derivative Financial liabilities [Abstract] | ||
Interest Rate Derivatives OTC | 478,371 | |
Other OTC Derivatives | 5,431 | [1] |
Off-balance sheet [Abstract] | ||
Loan Commitments | 201 | |
Other Commitments | 0 | |
Finanical Guarantees | 0 | |
Total off-balance sheet | 201 | |
EONIA [Member] | ||
Interest Rate Benchmark Reform [Line Items] | ||
Total financial assets | 288,135 | |
Non-Derivative Financial assets [Abstract] | ||
Bonds (FRN) | 0 | |
Securitisations | 0 | |
Syndicated Loans | 0 | |
Repos / Other Secured Lending | 0 | |
Loans / Advances (Total Limit) | 1,279 | |
Retail / Commercial Mortgages | 0 | |
Other | 0 | |
Derivative Financial assets [Abstract] | ||
Interest Rate Derivatives Exchange Traded | 0 | [1] |
Interest Rate Derivatives OTC | 286,856 | [1] |
Other OTC Derivatives | 0 | |
Total financial liabilities | 323,033 | |
Non-Derivative Financial liabilities [Abstract] | ||
Bonds (FRN) | 0 | |
Securitisations | 0 | |
Deposits | 21,993 | |
Other | 0 | |
Derivative Financial liabilities [Abstract] | ||
Interest Rate Derivatives OTC | 300,901 | |
Other OTC Derivatives | 139 | [1] |
Off-balance sheet [Abstract] | ||
Loan Commitments | 4 | |
Other Commitments | 0 | |
Finanical Guarantees | 0 | |
Total off-balance sheet | 4 | |
Other IBORs [Member] | ||
Interest Rate Benchmark Reform [Line Items] | ||
Total financial assets | 34,927 | |
Non-Derivative Financial assets [Abstract] | ||
Bonds (FRN) | 0 | |
Securitisations | 0 | |
Syndicated Loans | 365 | |
Repos / Other Secured Lending | 0 | |
Loans / Advances (Total Limit) | 454 | |
Retail / Commercial Mortgages | 0 | |
Other | 0 | |
Derivative Financial assets [Abstract] | ||
Interest Rate Derivatives Exchange Traded | 0 | [1] |
Interest Rate Derivatives OTC | 34,061 | [1] |
Other OTC Derivatives | 47 | |
Total financial liabilities | 31,767 | |
Non-Derivative Financial liabilities [Abstract] | ||
Bonds (FRN) | 0 | |
Securitisations | 0 | |
Deposits | 0 | |
Other | 0 | |
Derivative Financial liabilities [Abstract] | ||
Interest Rate Derivatives OTC | 31,696 | |
Other OTC Derivatives | 71 | [1] |
Off-balance sheet [Abstract] | ||
Loan Commitments | 18,436 | |
Other Commitments | 0 | |
Finanical Guarantees | 0 | |
Total off-balance sheet | 18,436 | |
Multiple basis [Member] | ||
Interest Rate Benchmark Reform [Line Items] | ||
Total financial assets | 163,879 | [2] |
Non-Derivative Financial assets [Abstract] | ||
Bonds (FRN) | 0 | [2] |
Securitisations | 0 | [2] |
Syndicated Loans | 0 | [2] |
Repos / Other Secured Lending | 0 | [2] |
Loans / Advances (Total Limit) | 0 | [2] |
Retail / Commercial Mortgages | 0 | [2] |
Other | 0 | [2] |
Derivative Financial assets [Abstract] | ||
Interest Rate Derivatives Exchange Traded | 0 | [1],[2] |
Interest Rate Derivatives OTC | 5 | [1],[2] |
Other OTC Derivatives | 163,874 | [2] |
Total financial liabilities | 160,428 | [2] |
Non-Derivative Financial liabilities [Abstract] | ||
Bonds (FRN) | 0 | [2] |
Securitisations | 0 | [2] |
Deposits | 0 | [2] |
Other | 0 | [2] |
Derivative Financial liabilities [Abstract] | ||
Interest Rate Derivatives OTC | 1 | [2] |
Other OTC Derivatives | 160,427 | [1],[2] |
Off-balance sheet [Abstract] | ||
Loan Commitments | 0 | [2] |
Other Commitments | 0 | [2] |
Finanical Guarantees | 0 | [2] |
Total off-balance sheet | € 0 | [2] |
[1] | The Group also has exposure to interest rate benchmark reform in respect of its cash collateral balances across some of its Credit Support Annex agreements. This exposure is not presented in the table due to its short term nature. | |
[2] | Multiple basis relates to underlying contracts utilizing multiple benchmarks subject to reforms, (e.g. floating- floating interest rate swaps which have cash flows in GBP IBOR and USD IBOR). |