Document and Entity information
Document and Entity information | 12 Months Ended |
Dec. 31, 2021shares | |
Document and Entity Information [Abstract] | |
Entity Registrant Name | Deutsche Bank Aktiengesellschaft |
Entity Central Index Key | 0001159508 |
Entity Current Reporting Status | Yes |
Current Fiscal Year End Date | --12-31 |
Entity Filer Category | Large Accelerated Filer |
Entity Well Know Seasoned Issuer | Yes |
Document Type | 20-F |
Document Period End Date | Dec. 31, 2021 |
Document Fiscal Year Focus | 2021 |
Document Fiscal Period Focus | FY |
Amendment Flag | false |
Entity Common Stock, Shares Outstanding | 2,066,094,183 |
Entity Shell Company | false |
Entity Voluntary Filers | No |
Entity Interactive Data Current | Yes |
Icfr Auditor Attestation Flag | true |
Auditor Name | Ernst & Young GmbH Wirtschaftsprüfungsgesellschaft |
Auditor Location | Eschborn/Frankfurt am Main, Germany |
Auditor Firm ID | 1251 |
Consolidated Statement of Incom
Consolidated Statement of Income - EUR (€) € in Millions | 12 Months Ended | |||||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | ||||
Consolidated Statement of Income [Line Items] | ||||||
Interest and similar income | [1] | € 16,773 | € 17,954 | € 25,208 | ||
Interest expense | 5,655 | 6,405 | 11,458 | |||
Net interest income | 11,117 | 11,548 | 13,749 | |||
Provision for credit losses | 515 | 1,792 | 723 | |||
Net interest income after provision for credit losses | 10,602 | 9,756 | 13,026 | |||
Commissions and fee income | 10,934 | 9,424 | 9,520 | |||
Net gains (losses) on financial assets/liabilities at fair value through profit or loss | 3,139 | 2,332 | 193 | |||
Net gains (losses) on derecognition of financial assets measured at amortized cost | 1 | 311 | 3 | |||
Net gains (losses) on financial assets at fair value through other comprehensive income | 237 | 323 | 260 | |||
Net income (loss) from equity method investments | 98 | 120 | 110 | |||
Other income (loss) | 13 | (48) | [2] | (671) | [2] | |
Total noninterest income | 14,421 | 12,463 | 9,416 | |||
Compensation and benefits | 10,418 | 10,471 | 11,142 | |||
General and administrative expenses | 10,821 | 10,259 | 12,253 | |||
Impairment of goodwill and other intangible assets | 5 | 0 | 1,037 | |||
Restructuring activities | 261 | 485 | 644 | |||
Total noninterest expenses | 21,505 | 21,216 | 25,076 | |||
Profit (loss) before income taxes | 3,518 | 1,003 | (2,634) | |||
Income tax expense (benefit) | 923 | 391 | 2,630 | |||
Profit (loss) | 2,595 | 612 | (5,265) | |||
Profit (loss) attributable to noncontrolling interests | 144 | 129 | 125 | |||
Profit (loss) attributable to Deutsche Bank shareholders and additional equity components | € 2,451 | € 483 | € (5,390) | |||
[1] | Interest and similar income included € 13.4 billion € 14.1 billion € 18.0 billion | |||||
[2] | Prior years' comparatives aligned to presentation in the current year. |
Consolidated Statement of Inc_2
Consolidated Statement of Income (Parenthetical) - EUR (€) € in Millions | 12 Months Ended | |||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | ||
Consolidated Statement of Income [Abstract] | ||||
Interest and similar income | [1] | € 16,773 | € 17,954 | € 25,208 |
of which: based on Effective Interest Rate Method | € 13,400 | € 14,100 | € 18,000 | |
[1] | Interest and similar income included € 13.4 billion € 14.1 billion € 18.0 billion |
Earnings per Common Share
Earnings per Common Share - € / shares shares in Millions | 12 Months Ended | |||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | ||
Earnings per share [Abstract] | ||||
Basic | [1] | € 1 | € 0.06 | € (2.71) |
Diluted | [1] | € 0.97 | € 0.06 | € (2.71) |
Number of shares in million [Abstract] | ||||
Denominator for basic earnings per share, weighted-average shares outstanding | 2,096.5 | 2,108.2 | 2,110 | |
Denominator for diluted earnings per share, adjusted weighted-average shares after assumed conversions | [2] | 2,143.2 | 2,170.1 | 2,110 |
[1] | Earnings were adjusted by € 363 million € 349 million € 330 million | |||
[2] | Due to the net loss situation for 2019 potentially dilutive shares are generally not considered for the earnings per share calculation, because to do so would decrease the net loss per share. Under a net income situation however, the number of adjusted weighted average shares after assumed conversion would have been increased by 60 million |
Earnings per Common Share (Pare
Earnings per Common Share (Parenthetical) - EUR (€) € in Millions | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Earnings per Common Share [Abstract] | |||
Earnings adjustment for cupons paid on Additional Tier 1 Notes in April, before tax | € 363 | € 349 | € 330 |
Consolidated Statement of Compr
Consolidated Statement of Comprehensive Income - EUR (€) € in Millions | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Consolidated Statement of Comprehensive Income [Line Items] | |||
Profit (loss) recognized in the income statement | € 2,595 | € 612 | € (5,265) |
Other comprehensive income, Items that will not be reclassified to profit or loss [Abstract] | |||
Remeasurement gains (losses) related to defined benefit plans, before tax | 804 | 149 | (1,396) |
Net fair value gains (losses) attributable to credit risk related to financial liabilities designated as at fair value through profit or loss, before tax | (15) | (24) | (3) |
Total of income tax related to items that will not be reclassified to profit or loss | (202) | 82 | 403 |
Items that are or may be reclassified to profit or loss, Financial assets at fair value through other comprehensive income | |||
Unrealized net gains (losses) arising during the period, before tax | (351) | 676 | 309 |
Realized net (gains) losses arising during the period (reclassified to profit or loss), before tax | 237 | 323 | 260 |
Derivatives hedging variability of cash flows [Abstract] | |||
Unrealized net gains (losses) arising during the period, before tax | 1 | (14) | (2) |
Realized net (gains) losses arising during the period (reclassified to profit or loss), before tax | (54) | 4 | (2) |
Assets classified as held for sale [Abstract] | |||
Unrealized net gains (losses) arising during the period, before tax | 0 | 0 | 0 |
Realized net (gains) losses arising during the period (reclassified to profit or loss), before tax | 0 | 0 | 0 |
Foreign currency translation [Abstract] | |||
Unrealized net gains (losses) arising during the period, before tax | 1,117 | (1,819) | (20) |
Realized net (gains) losses arising during the period (reclassified to profit or loss), before tax | (14) | 6 | (9) |
Equity Method Investments [Abstract] | |||
Net gains (losses) arising during the period | (5) | 1 | (22) |
Total of income tax related to items that are or may be reclassified to profit or loss | 286 | (122) | 193 |
Other comprehensive income (loss), net of tax | 1,329 | (1,385) | (809) |
Total comprehensive income (loss), net of tax | 3,924 | (774) | (6,073) |
Attributable to [Abstract] | |||
Noncontrolling interests | 212 | 59 | 136 |
Deutsche Bank shareholders and additional equity components | € 3,713 | € (833) | € (6,209) |
Consolidated Balance Sheet
Consolidated Balance Sheet - EUR (€) € in Millions | Dec. 31, 2021 | Dec. 31, 2020 | |
Assets [Abstract] | |||
Cash and central bank balances | € 192,021 | € 166,208 | |
Interbank balances (w/o central banks) | 7,342 | 9,130 | |
Central bank funds sold and securities purchased under resale agreements | 8,368 | 8,533 | |
Securities borrowed | 63 | 0 | |
Financial assets at fair value through profit or loss [Abstract] | |||
Trading assets | 102,396 | 107,929 | |
Positive market values from derivative financial instruments | 299,732 | 343,493 | |
Non-trading financial assets mandatory at fair value through profit and loss | 88,965 | 76,121 | |
Financial assets designated at fair value through profit or loss | 140 | 437 | |
Total financial assets at fair value through profit or loss | 491,233 | 527,980 | |
Financial assets at fair value through other comprehensive income | 28,979 | 55,834 | |
Equity method investments | 1,091 | 901 | |
Loans at amortized cost | 472,069 | 426,691 | |
Property and equipment | 5,536 | 5,549 | |
Goodwill and other intangible assets | 6,824 | 6,725 | |
Other assets | [1] | 103,784 | 110,360 |
Assets for current tax | 1,214 | 986 | |
Deferred tax assets | 6,180 | 6,063 | |
Total assets | 1,324,705 | 1,324,961 | |
Liabilities and equity [Abstract] | |||
Deposits | 604,396 | 567,745 | |
Central bank funds purchased and securities sold under repurchase agreements | 747 | 2,325 | |
Securities loaned | 24 | 1,697 | |
Financial liabilities at fair value through profit or loss [Abstract] | |||
Trading liabilities | 54,718 | 44,316 | |
Negative market values from derivative financial instruments | 287,109 | 327,775 | |
Financial liabilities designated at fair value through profit or loss | 58,468 | 46,582 | |
Investment contract liabilities | 562 | 526 | |
Total financial liabilities at fair value through profit or loss | 400,857 | 419,199 | |
Other short-term borrowings | 4,034 | 3,553 | |
Other liabilities | 97,795 | 114,208 | |
Provisions | 2,641 | 2,430 | |
Liabilities for current tax | 600 | 574 | |
Deferred tax liabilities | 498 | 561 | |
Long-term debt | 144,485 | 149,163 | |
Trust preferred securities | [2] | 528 | 1,321 |
Total liabilities | 1,256,606 | 1,262,777 | |
Common shares, no par value, nominal value of EUR 2.56 | 5,291 | 5,291 | |
Additional paid-in capital | 40,580 | 40,606 | |
Retained earnings | 12,680 | 10,002 | |
Common shares in treasury, at cost | (6) | (7) | |
Accumulated other comprehensive income (loss), net of tax | (449) | (1,118) | |
Total shareholders equity | 58,096 | 54,774 | |
Additional equity components | 8,305 | 5,824 | |
Noncontrolling interests | 1,698 | 1,587 | |
Total equity | 68,099 | 62,184 | |
Total liabilities and equity | € 1,324,705 | € 1,324,961 | |
[1] | Includes non-current assets and disposal groups held for sale | ||
[2] | Perpetual instruments, redeemable at specific future dates at the Group’s option. |
Consolidated Statement of Chang
Consolidated Statement of Changes in Equity - EUR (€) € in Millions | Total equity [Member] | Common shares (no par value) [Member] | Capital Reserve [Member] | Common shares in treasury, at cost [Member] | Unrealized net gains (losses) on derivatives hedging variability of cash flows, 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] | Retained earnings [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 assets classified as held for sale, net of tax [Member] | [1] | Foreign currency translation, net of tax [Member] | [1] | Additional equity components [Member] | [3] | Noncontrolling interests [Member] | ||
Equity, Balance at Dec. 31, 2018 | € 68,737 | € 5,291 | € 40,252 | € (15) | € 17 | € 15 | € 253 | [2] | € 62,495 | € 16,714 | € (34) | € 28 | € 0 | € 228 | € 4,675 | € 1,568 | |||||||
Equity, Balance (IFRS 9) at Dec. 31, 2018 | 68,601 | 5,291 | 40,252 | (15) | 17 | 15 | 253 | [2] | 62,358 | 16,578 | (34) | 28 | 0 | 228 | 4,675 | 1,568 | |||||||
IFRS 9 Introduction Impact | [2] | (137) | 0 | 0 | 0 | 0 | 0 | 0 | (136) | (136) | 0 | 0 | 0 | 0 | 0 | 0 | |||||||
Total comprehensive income (loss), net of tax | (5,079) | 0 | 0 | 0 | (3) | (15) | 168 | [2] | (5,222) | (5,390) | 79 | (2) | 0 | 108 | 0 | 142 | |||||||
Gains (losses) attributable to equity instruments designated as at fair value through other comprehensive income, net of tax | 0 | 0 | 0 | 0 | 0 | 0 | 0 | [2] | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |||||||
Gains (losses) upon early extinguishment attributable to change in own credit risk of financial liabilities designated as at fair value through profit and loss, net of tax | 0 | 0 | 0 | 0 | 0 | 0 | 0 | [2] | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |||||||
Cash dividends paid | (286) | 0 | 0 | 0 | 0 | 0 | 0 | [2] | (227) | (227) | 0 | 0 | 0 | 0 | 0 | (59) | |||||||
Coupon on additional equity components | (330) | 0 | 0 | 0 | 0 | 0 | 0 | [2] | (330) | (330) | 0 | 0 | 0 | 0 | 0 | 0 | |||||||
Remeasurement gains (losses) related to defined benefit plans, net of tax | (994) | 0 | 0 | 0 | 0 | 0 | 0 | [2] | (987) | (987) | 0 | 0 | 0 | 0 | 0 | (7) | |||||||
Net change in share awards in the reporting period | 119 | 0 | 118 | 0 | 0 | 0 | 0 | [2] | 118 | 0 | 0 | 0 | 0 | 0 | 0 | 2 | |||||||
Treasury shares distributed under share-based compensation plans | 185 | 0 | 0 | 185 | 0 | 0 | 0 | [2] | 185 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |||||||
Tax benefits related to share-based compensation plans | 0 | 0 | 0 | 0 | 0 | 0 | 0 | [2] | 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 | [2] | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |||||||
Purchases of treasury shares | (1,359) | 0 | 0 | (1,359) | 0 | 0 | 0 | [2] | (1,359) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |||||||
Sale of treasury shares | 1,185 | 0 | 0 | 1,185 | 0 | 0 | 0 | [2] | 1,185 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |||||||
Net gains (losses) on treasury shares sold | 3 | 0 | 3 | 0 | 0 | 0 | 0 | [2] | 3 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |||||||
Other | 114 | 0 | 133 | 0 | 0 | 0 | 0 | [2] | 133 | 0 | 0 | 0 | 0 | 0 | (10) | (9) | |||||||
Equity, Balance at Dec. 31, 2019 | 62,160 | 5,291 | 40,505 | (4) | 14 | 0 | 421 | [2] | 55,857 | 9,644 | 45 | 25 | 0 | 336 | 4,665 | 1,638 | |||||||
Total comprehensive income (loss), net of tax | [2] | (999) | 0 | 0 | 0 | (7) | (1) | (1,539) | (1,056) | 483 | 233 | (18) | 0 | (1,747) | 0 | 57 | |||||||
Gains (losses) attributable to equity instruments designated as at fair value through other comprehensive income, net of tax | 0 | 0 | 0 | 0 | 0 | 0 | 0 | [2] | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |||||||
Gains (losses) upon early extinguishment attributable to change in own credit risk of financial liabilities designated as at fair value through profit and loss, net of tax | 0 | 0 | 0 | 0 | 0 | 0 | 0 | [2] | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |||||||
Cash dividends paid | (77) | 0 | 0 | 0 | 0 | 0 | 0 | [2] | 0 | 0 | 0 | 0 | 0 | 0 | 0 | (77) | |||||||
Coupon on additional equity components | (349) | 0 | 0 | 0 | 0 | 0 | 0 | [2] | (349) | (349) | 0 | 0 | 0 | 0 | 0 | 0 | |||||||
Remeasurement gains (losses) related to defined benefit plans, net of tax | 225 | 0 | 0 | 0 | 0 | 0 | 0 | [2] | 223 | 223 | 0 | 0 | 0 | 0 | 0 | 2 | |||||||
Net change in share awards in the reporting period | (135) | 0 | (131) | 0 | 0 | 0 | 0 | [2] | (131) | 0 | 0 | 0 | 0 | 0 | 0 | (4) | |||||||
Treasury shares distributed under share-based compensation plans | 208 | 0 | 0 | 208 | 0 | 0 | 0 | [2] | 208 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |||||||
Tax benefits related to share-based compensation plans | 11 | 0 | 11 | 0 | 0 | 0 | 0 | [2] | 11 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |||||||
Option premiums and other effects from options on common shares | 0 | 0 | 0 | 0 | 0 | 0 | 0 | [2] | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |||||||
Purchases of treasury shares | (279) | 0 | 0 | (279) | 0 | 0 | 0 | [2] | (279) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |||||||
Sale of treasury shares | 68 | 0 | 0 | 68 | 0 | 0 | 0 | [2] | 68 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |||||||
Net gains (losses) on treasury shares sold | 0 | 0 | 0 | 0 | 0 | 0 | 0 | [2] | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |||||||
Other | 1,352 | 0 | 221 | 0 | 0 | 0 | 0 | [2] | 221 | 0 | 0 | 0 | 0 | 0 | 1,159 | [4] | (28) | ||||||
Equity, Balance at Dec. 31, 2020 | 62,184 | 5,291 | 40,606 | (7) | 7 | (1) | (1,118) | [2] | 54,774 | 10,002 | 278 | 7 | 0 | (1,411) | 5,824 | 1,587 | |||||||
Total comprehensive income (loss), net of tax | [2] | 3,325 | 0 | 0 | 0 | (40) | (5) | 667 | 3,118 | 2,451 | (403) | (13) | 0 | 1,128 | 0 | 207 | |||||||
Gains (losses) attributable to equity instruments designated as at fair value through other comprehensive income, net of tax | 0 | 0 | 0 | 0 | 0 | 0 | 0 | [2] | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |||||||
Gains (losses) upon early extinguishment attributable to change in own credit risk of financial liabilities designated as at fair value through profit and loss, net of tax | 0 | 0 | 0 | 0 | 0 | 0 | 2 | [2] | 0 | (2) | 0 | 2 | 0 | 0 | 0 | 0 | |||||||
Cash dividends paid | (85) | 0 | 0 | 0 | 0 | 0 | 0 | [2] | 0 | 0 | 0 | 0 | 0 | 0 | 0 | (85) | |||||||
Coupon on additional equity components | (363) | 0 | 0 | 0 | 0 | 0 | 0 | [2] | (363) | (363) | 0 | 0 | 0 | 0 | 0 | 0 | |||||||
Remeasurement gains (losses) related to defined benefit plans, net of tax | 597 | 0 | 0 | 0 | 0 | 0 | 0 | [2] | 592 | 592 | 0 | 0 | 0 | 0 | 0 | 4 | |||||||
Net change in share awards in the reporting period | (101) | 0 | (99) | 0 | 0 | 0 | 0 | [2] | (99) | 0 | 0 | 0 | 0 | 0 | 0 | (2) | |||||||
Treasury shares distributed under share-based compensation plans | 312 | 0 | 0 | 312 | 0 | 0 | 0 | [2] | 312 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |||||||
Tax benefits related to share-based compensation plans | 29 | 0 | 29 | 0 | 0 | 0 | 0 | [2] | 29 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |||||||
Option premiums and other effects from options on common shares | (50) | 0 | (50) | 0 | 0 | 0 | 0 | [2] | (50) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |||||||
Purchases of treasury shares | (346) | 0 | 0 | (346) | 0 | 0 | 0 | [2] | (346) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |||||||
Sale of treasury shares | 35 | 0 | 0 | 35 | 0 | 0 | 0 | [2] | 35 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |||||||
Net gains (losses) on treasury shares sold | 0 | 0 | 0 | 0 | 0 | 0 | 0 | [2] | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |||||||
Other | 2,562 | 0 | 94 | 0 | 0 | 0 | 0 | [2] | 94 | 0 | 0 | 0 | 0 | 0 | 2,481 | (13) | |||||||
Equity, Balance at Dec. 31, 2021 | € 68,099 | € 5,291 | € 40,580 | € (6) | € (33) | € (6) | € (449) | [2] | € 58,096 | € 12,680 | € (124) | € (3) | € 0 | € (282) | € 8,305 | € 1,698 | |||||||
[1] | Excluding unrealized net gains (losses) from equity method investments | ||||||||||||||||||||||
[2] | Excluding remeasurement gains (losses) related to defined benefit plans, net of tax. | ||||||||||||||||||||||
[3] | Includes Additional Tier 1 Notes, which constitute unsecured and subordinated notes of Deutsche Bank and are classified as equity in accordance with IFRS. | ||||||||||||||||||||||
[4] | Includes net proceeds from issuance, purchase and sale of Additional Equity Components. |
Consolidated Statement of Cash
Consolidated Statement of Cash Flows - EUR (€) € in Millions | 12 Months Ended | ||||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |||
Consolidated Statement of Cash Flows [Line Items] | |||||
Net income (loss) | € 2,595 | € 612 | € (5,265) | ||
Cash flows from operating activities, Adjustments to reconcile net income to net cash provided by (used in) operating activities [Abstract] | |||||
Provision for credit losses | 515 | 1,792 | 723 | ||
Restructuring activities | 261 | 485 | 644 | ||
Gain on sale of financial assets at fair value through other comprehensive income, equity method investments and other | (276) | (665) | (277) | ||
Impairment, depreciation and other amortization, and accretion | 3,169 | 1,896 | 3,993 | ||
Share of net income from equity method investments | (197) | (103) | (104) | ||
Deferred Income Taxes 2020, net | (301) | ||||
Deferred tax expense (benefit) | 62 | (302) | 1,868 | ||
Income (loss) adjusted for noncash charges, credits and other items | 6,129 | 3,717 | 1,582 | ||
Adjustments for net change in operating assets and liabilities [Abstract] | |||||
Interest-earning time deposits with central banks and banks | 97 | (1,202) | (1,203) | ||
Central bank funds sold, securities purchased under resale agreements, securities borrowed | 102 | 5,688 | (2,529) | ||
Non-Trading financial assets mandatory at fair value through profit and loss | (12,124) | 8,597 | 11,403 | ||
Financial assets designated at fair value through profit or loss | 309 | (430) | 101 | ||
Loans at amortized cost | (42,707) | (780) | (27,335) | ||
Other assets | 8,046 | (11,743) | 7,464 | ||
Deposits | 34,625 | (2,159) | 6,432 | ||
Financial liabilities designated at fair value through profit or loss and investment contract liabilities | [1] | 11,144 | (3,233) | (3,766) | |
Central bank funds purchased, securities sold under repurchase agreements, securities loaned | (3,249) | 678 | (4,871) | ||
Other short-term borrowings | 477 | (1,638) | (8,954) | ||
Other liabilities | (17,823) | 7,030 | (16,563) | ||
Senior long-term debt | [2] | (6,191) | 13,282 | (16,112) | |
Trading assets and liabilities, positive and negative market values from derivative financial instruments, net | 19,598 | 9,854 | 22,559 | ||
Other, net | (1,386) | 3,075 | (8,657) | ||
Net cash provided by (used in) operating activities | (2,952) | 30,736 | (40,449) | ||
Income taxes paid (received), net | 1,031 | 805 | 945 | ||
Interest paid | 5,769 | 7,062 | 11,493 | ||
Interest received | 15,981 | 18,645 | 23,748 | ||
Dividend received | 364 | 307 | 1,309 | ||
Cash flows from investing activities, Proceeds from [Abstract] | |||||
Sale of financial assets at fair value through other comprehensive income | 52,131 | 38,325 | 23,721 | ||
Maturities of financial assets at fair value through other comprehensive income | 21,424 | 32,964 | 40,806 | ||
Sale of debt securities held to collect at amortized cost | 67 | 10,110 | 390 | ||
Maturities of debt securities held to collect at amortized cost | 5,468 | 4,890 | 964 | ||
Sale of equity method investments | 23 | 69 | 9 | ||
Sale of property and equipment | 114 | 24 | 92 | ||
Purchase of [Abstract] | |||||
Financial assets at fair value through other comprehensive income | (46,801) | (82,709) | (56,568) | ||
Debt Securities held to collect at amortized cost | (7,166) | (4,011) | (20,134) | ||
Equity method investments | (100) | (3) | (17) | ||
Property and equipment | (550) | (512) | (327) | ||
Net cash received in (paid for) business combinations/divestitures | (5) | 5 | 1,762 | ||
Other, net | (1,010) | (1,045) | (978) | ||
Net cash provided by (used in) investing activities | 23,595 | (1,892) | (10,280) | ||
Cash flows from financing activities [Abstract] | |||||
Issuances of subordinated long-term debt | 1,146 | [3] | 1,684 | 47 | |
Repayments and extinguishments of subordinated long-term debt | (42) | [3] | (1,168) | (152) | |
Issuances of trust preferred securities | 0 | [4] | 0 | 0 | |
Repayments and extinguishments of trust preferred securities | (504) | [4] | (676) | (1,235) | |
Principal portion of lease payments | (679) | (653) | (659) | ||
Common shares issued | 0 | 0 | 0 | ||
Purchases of treasury shares | (346) | (279) | (1,359) | ||
Sale of treasury shares | 35 | 76 | 1,191 | ||
Additional Equity Components (AT1) issued | 2,500 | 1,153 | 0 | ||
Purchases of Additional Equity Components (AT1) | (2,662) | (792) | (131) | ||
Sale of Additional Equity Components (AT1) | 2,642 | 798 | 121 | ||
Coupon on additional equity components, pre tax | (363) | (349) | (330) | ||
Dividends paid to noncontrolling interests | (85) | (77) | (59) | ||
Net change in noncontrolling interests | (13) | (28) | (9) | ||
Cash dividends paid to Deutsche Bank shareholders | 0 | 0 | (227) | ||
Other, net | 0 | 0 | 0 | ||
Net cash provided by (used in) financing activities | 1,630 | (311) | (2,802) | ||
Net effect of exchange rate changes on cash and cash equivalents | 1,345 | (1,074) | 1,578 | ||
Net increase (decrease) in cash and cash equivalents | 23,618 | 27,459 | (51,953) | ||
Cash and cash equivalents at beginning of period | 156,328 | 128,869 | 180,822 | ||
Cash and cash equivalents at end of period | 179,946 | 156,328 | 128,869 | ||
Cash and cash equivalents comprise [Abstract] | |||||
Cash and central bank balances (not included Interest-earning time deposits with central banks) | 174,089 | 149,323 | 121,412 | ||
Interbank balances (w/o central banks) | 5,857 | 7,006 | 7,457 | ||
Cash and cash equivalents | € 179,946 | € 156,328 | € 128,869 | ||
[1] | Included are senior long-term debt issuances of € 1.3 billion € 2.3 billion € 1.0 billion € 3.5 billion | ||||
[2] | Included are issuances of € 33.6 billion € 67.4 billion € 39.5 billion € 51.4 billion | ||||
[3] | Non-cash changes for Subordinated Long Term Debt are € 123 million € 293 million € (179) million | ||||
[4] | Non-cash changes for Trust Preferred Securities are € (289) million € (267) million |
Consolidated Statement of Cas_2
Consolidated Statement of Cash Flows (Parenthetical) - EUR (€) € in Millions | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | ||
Consolidated Statement of Cash Flows [Abstract] | |||
Financial liabilities designated at fair value through profit or loss and investment contract liabilities | [1] | € 11,144 | € (3,233) |
of which: Senior long-term debt issuances | 1,300 | 2,300 | |
of which: Repayments and extinguishments | 1,000 | 3,500 | |
Senior long-term debt | [2] | (6,191) | 13,282 |
of which: Issuances | 33,600 | 67,400 | |
of which: Repayments and extinguishments | 39,500 | € 51,400 | |
Total non-cash changes for Subordinated Long Term Debt | 123 | ||
of which: Driven by FV changes | 293 | ||
of which: Driven by FX movements | (179) | ||
Non-cash changes for Trust Preferred Securities | (289) | ||
of which: Driven by FV Changes | € (267) | ||
[1] | Included are senior long-term debt issuances of € 1.3 billion € 2.3 billion € 1.0 billion € 3.5 billion | ||
[2] | Included are issuances of € 33.6 billion € 67.4 billion € 39.5 billion € 51.4 billion |
Significant Accounting Policies
Significant Accounting Policies and Critical Accounting Estimates | 12 Months Ended |
Dec. 31, 2021 | |
Significant Accounting Policies and Critical Accounting Estimates [Abstract] | |
Significant Accounting Policies and Critical Accounting Estimates | Notes to the consolidated financial statements 01 – Basis of accounting Deutsche Bank Aktiengesellschaft, Frankfurt am Main (“Deutsche Bank” or the “Parent”) is a stock corporation organized under the laws of the Federal Republic of Germany. Deutsche Bank together with all entities in which Deutsche Bank has a controlling financial interest (collectively the “Group”, “Deutsche Bank” or “DB”) is a global provider of a full range of corporate and investment banking, private clients and asset management products and services. The accompanying consolidated financial statements are stated in euros, the presentation currency of the Group. All financial information presented in million euros has been rounded to the nearest million. The consolidated financial statements have been prepared in accordance with International Financial Reporting Standards (“IFRS”) as issued by the International Accounting Standards Board (“IASB”). EU carve-out For purposes of the Group’s primary financial reporting outside the United States, the Group prepares its consolidated financial statements in accordance with IFRS as endorsed by the EU. For purposes of the Group’s consolidated 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 financial year ended December 31, 2021, the application of the EU carve-out version of IAS 39 had a negative impact of € 128 million € 85 million € 180 million € 12 million The Group’s regulatory capital and ratios thereof are also reported on the basis of the EU carve-out version of IAS 39. The impact on profit also impacts the calculation of the CET1 capital ratio. For the financial year ended December 31, 2021, application of the EU carve-out had a negative impact on the CET1 capital ratio of about 2 1 IFRS 7 disclosures Disclosures about the nature and the extent of risks arising from financial instruments as required by IFRS 7, “Financial Instruments: Disclosures” are set forth in the Risk Report section of the Management Report and are an integral part of the Consolidated Financial Statements. These audited disclosures are marked in light blue in the Risk Report. COVID-19 and Climate risk related disclosures – – – – The impact from Climate risk on the Group’s financial statements is reflected as follows: – – Change in accounting estimates In the second quarter 2021, the Group refined one of the process-related Stage 2 triggers in the Group’s ECL model. Financial assets added to the watchlist for discretionary reasons are now transferred to Stage 2, whereas prior to this change only assets added to the watchlist for mandatory reasons were transferred to Stage 2. The methodology change resulted in an increase of the Group’s allowance for loan losses of € 60 million In the third quarter 2021, the Group introduced refinements to its IFRS 9 expected credit loss (ECL) model to reflect a new regulatory definition of default. This new definition of default lead to transactions being migrated to Stage 3. As loss expectations to the underlying transactions are not expected to materially change, a recalibration of the Loss Given Default (LGD) factor in the ECL model is required. Starting in the third quarter 2021, the Group recorded a management overlay to adjust for the expected LGD recalibration impact that will be implemented in the ECL model in 2022. Therefore, while the implementation of the new definition of default is a change in estimate, the overall effect is immaterial when considered together with the management overlay. For further details please refer to Risk Report and the section “IFRS 9 impairment”. In the fourth quarter 2021, a revised discount curve methodology that provides improved data quality for the determination of the underlying bond universe was approved for use in the UK. The Group’s adoption of this methodology resulted in a net actuarial gain of around € 45 million Critical accounting estimates The preparation of financial statements under IFRS requires management to make estimates and assumptions for certain categories of assets and liabilities. These estimates and assumptions affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the balance sheet date, and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from management’s estimates, especially in relation to the COVID-19 pandemic. The Group’s significant accounting policies are described in “Significant Accounting Policies”. Certain of the Group’s accounting policies require critical accounting estimates that involve complex and subjective judgments and the use of assumptions, some of which may be for matters that are inherently uncertain and susceptible to change. Such critical accounting estimates could change from period to period and may have a material impact on the Group’s financial condition, changes in financial condition or results of operations. Critical accounting estimates could also involve estimates where management could have reasonably used another estimate in the current accounting period. The Group has identified the following significant accounting policies that involve critical accounting estimates: – – – – – – – – Significant accounting policies The following is a description of the significant accounting policies of the Group. Except for the changes in accounting policies and changes in accounting estimates described previously and noted below these policies have been consistently applied for 2019, 2020 and 2021. Principles of consolidation The financial information in the Consolidated Financial Statements includes the parent company, Deutsche Bank AG, together with its consolidated subsidiaries, including certain structured entities presented as a single economic unit. Subsidiaries The Group’s subsidiaries are those entities which it directly or indirectly controls. Control over an entity is evidenced by the Group’s ability to exercise its power in order to affect any variable returns that the Group is exposed to through its involvement with the entity. The Group sponsors the formation of structured entities and interacts with structured entities sponsored by third parties for a variety of reasons, including allowing clients to hold investments in separate legal entities, allowing clients to invest jointly in alternative assets, for asset securitization transactions, and for buying or selling credit protection. When assessing whether to consolidate an entity, the Group evaluates a range of control factors, namely: – – – – – Where voting rights are relevant, the Group is deemed to have control where it holds, directly or indirectly, more than half of the voting rights over an entity unless there is evidence that another investor has the practical ability to unilaterally direct the relevant activities. Potential voting rights that are deemed to be substantive are also considered when assessing control. Likewise, the Group also assesses existence of control where it does not control the majority of the voting power but has the practical ability to unilaterally direct the relevant activities. This may arise in circumstances where the size and dispersion of holdings of the shareholders give the Group the power to direct the activities of the investee. The Group reassesses the consolidation status at least at every quarterly reporting date. Therefore, any changes in the structure leading to a change in one or more of the control factors, require reassessment when they occur. This includes changes in decision making rights, changes in contractual arrangements, changes in the financing, ownership or capital structure as well as changes following a trigger event which was anticipated in the original documentation. All intercompany transactions, balances and unrealized gains on transactions between Group companies are eliminated on consolidation. Consistent accounting policies are applied throughout the Group for the purposes of consolidation. Issuances of a subsidiary’s stock to third parties are treated as non-controlling interests. Profit or loss attributable to non-controlling interests are reported separately in the Consolidated Statement of Income and Consolidated Statement of Comprehensive Income. At the date that control of a subsidiary is lost, the Group: a) derecognizes the assets (including attributable goodwill) and liabilities of the subsidiary at their carrying amounts, b) derecognizes the carrying amount of any non-controlling interests in the former subsidiary, c) recognizes the fair value of the consideration received and any distribution of the shares of the subsidiary, d) recognizes any investment retained in the former subsidiary at its fair value and e) recognizes any resulting difference of the above items as a gain or loss in the income statement. Any amounts recognized in prior periods in other comprehensive income in relation to that subsidiary would be reclassified to the Consolidated Statement of Income or transferred directly to retained earnings if required by other IFRSs. Associates Investments in associates are accounted for under the equity method of accounting. An associate is an entity in which the Group has significant influence, but not a controlling interest, over the operating and financial management policy decisions of the entity. Significant influence is generally presumed when the Group holds between 20 % 50 % 20 % Under the equity method of accounting, the Group’s investments in associates and jointly controlled entities are initially recorded at cost including any directly related transaction costs incurred in acquiring the associate, and subsequently increased (or decreased) to reflect both the Group’s pro-rata share of the post-acquisition net income (or loss) of the associate or jointly controlled entity and other movements included directly in the equity of the associate or jointly controlled entity. The Group’s share of the results of associates is adjusted to conform to the accounting policies of the Group and is reported in the Consolidated Statement of Income as Net income (loss) from equity method investments. The Group’s share in the associate’s profits and losses resulting from intercompany sales is eliminated on consolidation. Goodwill arising on the acquisition of an associate or a jointly controlled entity is included in the carrying value of the investment. As goodwill is not reported separately it is not specifically tested for impairment. Rather, the entire equity method investment is tested for impairment at each balance sheet date. If there is objective evidence of impairment, an impairment test is performed by comparing the investment’s recoverable amount, which is the higher of its value in use and fair value less costs to sell, with its carrying amount. An impairment loss recognized in prior periods is only reversed if there has been a positive change in the estimates used to determine the investment’s recoverable amount since the last impairment loss was recognized. If this is the case the carrying amount of the investment is increased to its higher recoverable amount. The increased carrying amount of the investment in the associate attributable to a reversal of an impairment loss shall not exceed the carrying amount that would have been determined had no impairment loss been recognized for the investment in prior years. At the date that the Group ceases to have significant influence over the associate or jointly controlled entity the Group recognizes a gain or loss on the disposal of the equity method investment equal to the difference between the sum of the fair value of any retained investment and the proceeds from disposing of the associate and the carrying amount of the investment. Amounts recognized in prior periods in other comprehensive income in relation to the associate are accounted for on the same basis as would have been required if the investee had directly disposed of the related assets or liabilities. Critical accounting estimates: Foreign currency translation The Consolidated Financial Statements are prepared in euro, which is the presentation currency of the Group. Various entities in the Group use a different functional currency, being the currency of the primary economic environment in which the entity operates. An entity records foreign currency revenues, expenses, gains and losses in its functional currency using the exchange rates prevailing at the dates of recognition. Monetary assets and liabilities denominated in currencies other than the entity’s functional currency are translated at the period end closing rate. Foreign exchange gains and losses resulting from the translation and settlement of these items are recognized in the Consolidated Statement of Income as net gains (losses) on financial assets/liabilities at fair value through profit or loss in order to align the translation amounts with those recognized from foreign currency related transactions (derivatives) which hedge these monetary assets and liabilities. Non-monetary items that are measured at historical cost are translated using the historical exchange rate at the date of the transaction. Translation differences on non-monetary items which are held at fair value through profit or loss are recognized in profit or loss. For purposes of translation into the presentation currency, assets and liabilities of foreign operations are translated at the period end closing rate and items of income and expense are translated into euros at the rates prevailing on the dates of the transactions, or average rates of exchange where these approximate actual rates. The exchange differences arising on the translation of a foreign operation are included in other comprehensive income. For foreign operations that are subsidiaries, the amount of exchange differences attributable to any non-controlling interests is recognized in non-controlling interests. Upon disposal of a foreign subsidiary and associate (which results in loss of control or significant influence over that operation) the total cumulative exchange differences recognized in other comprehensive income are reclassified to profit or loss. Upon partial disposal of a foreign operation that is a subsidiary and which does not result in loss of control, the proportionate share of cumulative exchange differences is reclassified from other comprehensive income to non-controlling interests as this is deemed a transaction with equity holders. For a partial disposal of an associate which does not result in a loss of significant influence, the proportionate share of cumulative exchange differences is reclassified from other comprehensive income to profit or loss. Interest, commissions and fees Net interest income The estimated future cash flows used in the EIR calculation include those determined by all of the contractual terms of the asset or liability, all fees (including commissions) that are considered to be integral to the effective interest rate, direct and incremental transaction costs and all other premiums or discounts. However, if the financial instrument is carried at fair value through profit or loss, any associated fees are recognized in trading income when the instrument is initially recognized, provided there are no significant unobservable inputs used in determining its fair value. If a financial asset is credit impaired, interest revenue is calculated by applying the effective interest rate to the amortized cost amount. The amortized cost amount of a financial asset is the gross carrying amount of a financial asset after adjusting for any impairment allowance. For assets which are initially recognized as purchased or credit impaired, interest revenue is calculated through the use of a credit-adjusted effective interest rate which takes into consideration expected credit losses. The Group presents negative interest paid on interest-bearing assets as interest expense, and interest revenue received from interest-bearing liabilities as interest income. The Group presents interest income and expense calculated using the EIR method separately in the Group’s consolidated statement of income. Commissions and fee income Accordingly, after a contract with a customer has been identified in the first step, the second step is to identify the performance obligation – or a series of distinct performance obligations – provided to the customer. The Group must examine whether the service is capable of being distinct and is actually distinct within the context of the contract. A promised service is distinct if the customer can benefit from the service either on its own or together with other resources that are readily available to the customer, and the promise to transfer the service to the customer is separately identifiable from other promises in the contract. The amount of income is measured on the basis of the contractually agreed transaction price for the performance obligation defined in the contract. If a contract includes a variable consideration, the Group estimates the amount of consideration to which it will be entitled in exchange for transferring the promised goods or services to a customer. Income is recognized in profit and loss when the identified performance obligation has been satisfied. The Group does not present information about its remaining performance obligations if it is part of a contract that has an original expected duration of one year or less. The Group determines the stand-alone selling price at contract inception of a distinct service underlying each performance obligation in the contract and allocates the transaction price in proportion to those stand-alone selling prices. The stand-alone selling price is the price at which DB would sell a promised service separately to a customer on an unbundled basis. The best evidence of a stand-alone selling price is the observable price of a service when the Group sells that service separately in similar circumstances and to similar customers. If the Group does not sell the service to a customer separately, it estimates the stand-alone selling price at an amount using a suitable method, for example, in loan syndication transactions the Group applies the requirements for recognition of trade day profit and considers the price at which other market participants provide the same service on an unbundled basis. As such when estimating a stand-alone selling price, the Group considers all information (including market conditions) that is reasonably available to it. In doing so, the Group maximizes the use of observable inputs and applies estimation methods consistently in similar circumstances. The Group provides asset management services that give rise to asset management and performance fees and constitute a single performance obligation. The asset management and performance fee components are variable considerations such that at each reporting date the Group estimates the fee amount to which it will be entitled in exchange for transferring the promised services to the customer. The benefits arising from the asset management services are simultaneously received and consumed by the customer over time. The Group recognizes revenue over time by measuring the progress towards complete satisfaction of that performance obligation, subject to the removal of any uncertainty as to whether it is highly probable that a significant reversal in the cumulative amount of revenue recognized would occur or not. For the management fee component this is the end of the monthly or quarterly service period. For performance fees this date is when any uncertainty related to the performance component has been fully removed. Loan commitment fees related to commitments that are accounted for off balance sheet are recognized in commissions and fee income over the life of the commitment if it is unlikely that the Group will enter into a specific lending arrangement. If it is probable that the Group will enter into a specific lending arrangement, the loan commitment fee is deferred until the origination of a loan and recognized as an adjustment to the loan’s effective interest rate. Commissions and Fee Income predominantly earned from services that are received and consumed by the customer over time: Administration, assets under management, foreign commercial business, loan processing and guarantees sundry other customer services. The Group recognizes revenue from these services over time by measuring the progress towards complete satisfaction of that performance obligation, subject to the removal of any uncertainty as to whether it is highly probable that a significant reversal in the cumulative amount of revenue recognized would occur or not. Commissions and Fee Income predominantly earned from providing services at a point in time or transaction-type services include: other securities, underwriting and advisory fees, brokerage fees, local payments, foreign currency/ exchange business and intermediary fees. Expenses that are directly related and incremental to the generation of Commissions and Fee Income are presented net in Commissions and Fee Income in the Consolidated Statement of Income. This includes income and associated expense where the Group contractually owns the performance obligation (i.e. as Principal) in relation to the service that gives rise to the revenue and associated expense. In contrast, it does not include situations where the Group does not contractually own the performance obligation and is acting as agent. The determination of whether the Group is acting as principal or agent is based on the contractual terms of the underlying service arrangement. The gross Commissions and Fee Income and Expense amounts are disclosed in “Note 6 – Commissions and Fee Income”. Financial assets – – – The assessment of business model requires judgment based on facts and circumstances upon initial recognition. As part of this assessment, the Group considers quantitative factors (e.g., the expected frequency and volume of sales) and qualitative factors such as how the performance of the business model and the financial assets held within that business model are evaluated and reported to the Group’s key management personnel. In addition to taking into consideration the risks that affect the performance of the business model and the financial assets held within that business model, in particular, the way in which those market and credit risks are managed; and how managers of the business are compensated (e.g., whether the compensation is based on the fair value of the assets managed or on the contractual cash flows collected). This assessment results in an asset being classified in either a Hold to Collect, Hold to Collect and Sell or Other business model. If the Group holds a financial asset either in a Hold to Collect or a Hold to Collect and Sell business model, then an assessment at initial recognition to determine whether the contractual cash flows of the financial asset are Solely Payments of Principal and Interest on the principal amount outstanding at initial recognition is required to determine the business model classification. Contractual cash flows, that are SPPI on the principal amount outstanding, are consistent with a basic lending arrangement. Interest in a basic lending arrangement is consideration for the time value of money and the credit risk associated with the principal amount outstanding during a particular period of time. It can also include consideration for other basic lending risks (e.g., liquidity risk) and costs (e.g., administrative costs) associated with holding the financial asset for a particular period of time; and a profit margin that is consistent with a basic lending arrangement. Financial assets at fair value through profit or loss Financial assets are classified at fair value through profit or loss if they are held in the Other business model because they are either held for trading or because they do not meet the criteria for Hold to Collect or Hold to Collect and Sell. In addition, it includes financial assets that meet the criteria for Hold to Collect or Hold to Collect and Sell business model, but the financial asset fails SPPI or where the Group designated the financial assets under the fair value option. Financial assets classified as Financial assets at fair value through profit or loss are measured at fair value with realized and unrealized gains and losses included in Net gains (losses) on financial assets/liabilities at fair value through profit or loss. Interest on interest earning assets such as trading loans and debt securities and dividends on equity instruments are presented in Interest and Similar Income. Financial assets classified at fair value through profit or loss are recognized or derecognized on trade date. Trade date is the date on which the Group commits to purchase or sell the asset. Trading assets Non-trading financial assets mandatory at fair value through profit and loss – Financial assets designated at fair value through profit or loss Financial assets at fair value through other comprehensive income A financial asset shall be classified and measured at Fair Value through Other Comprehensive Income (“FVOCI”), if the financial asset is held in a Hold to Collect and Sell business model and the contractual cash flows are SPPI, unless designated under the fair value option. Under FVOCI, a financial asset is measured at its fair value with any changes being recognized in Other Comprehensive Income (”OCI”) and is assessed for impairment under the IFRS 9 expected credit loss model where provisions are recorded through profit or loss are recognized based on expectations of potential credit losses. The Group’s impairment policy is described further in the section “Impairment of Loans and Provision for Off-Balance Sheet Positions (IFRS 9)”. The foreign currency translation effect for FVOCI assets is recognized in profit or loss, as is the interest component by using the effective interest method. The amortization of premiums and accretion of discounts are recorded in net interest income. Realized gains and losses are reported in net gains (losses) on financial assets at FVOCI. Generally, the weighted-average cost method is used to determine the cost of FVOCI financial assets. Financial assets classified as FVOCI are recognized or derecognized on trade date. Trade date is the date on which the Group commits to purchase or sell the asset. It is possible to designate non-trading equity instruments as FVOCI. However, this category is expected to have limited usage by the Group and has not been used to date. Financial assets at amortized cost A financial asset is classified and subsequently measured at amortized cost if the financial asset is held in a Hold to Collect business model and the contractual cash flows are SPPI. Under this measurement category, the financial asset is measured at fair value at initial recognition. Subsequently the carrying amount is reduced for principal payments, plus or minus the cumulative amortization using the effective interest method. The financial asset is assessed for impairment under the IFRS 9 expected credit loss model where provisions are recognized based on expectations of potential credit losses. The Group’s impairment of financial instruments policy is described further in the section “Impairment of Loans and Provision for Off-Balance Sheet Positions (IFRS 9)”. Financial assets measured at amortized cost are recognized on a settlement date basis. Financial Assets at amortized cost include predominately Loans at amortized cost, Central bank funds sold and securities purchased under resale agreements, Securities borrowed and certain receivables presented in Other Assets. When the terms of a financial asset are renegotiated or modified and the modification does not result in derecognition, a gain or loss is recognized in the income statement as the difference between the original contractual cash flows and the modified cash flows discounted at the original effective interest rate. The modified financial asset will continue to accrued interest at its original EIR. When a modification results in derecognition the original instrument is derecognized and the new instrument recognized at fair value. Non-credit related or commercial renegotiations where an obligor has not experienced a significant increase in credit risk since origination, and has a readily exercisable right to early terminate the financial asset results in derecognition of the original agreement and recognition of a new financial asset based on the newly negotiated commercial terms. For credit related modifications (i.e. those modifications due to significant increase in credit risk since inception) or those where the obligor does not have the readily exercisable right to early terminate, the Group assesses whether the modified terms result in the financial asset being significantly modified and therefore derecognized. This assessment includes a quantitative assessment of the impact of the change in cash flows from the modification of contractual terms and additionally, where necessary, a qualitative assessment of the impact of the change in the contractual terms. Where these modifications are not concluded to be significant, the financial asset is not derecognized and is accounted for as a modification as described above. If the changes are concluded to be significant, the old instrument is derecognized and a new instrument recognized. The Group then recognizes a credit loss allowance based on 12-month expected credit losses. However, if following a modification that results in a derecognition of the original financial asset, there is evidence that the new financial asset is credit-impaired on initial recognition; then the new financial asset should be recognized as an originated credit-impaired financial asset and initially classified in Stage 3 (refer to section “Impairment of Loans and Provision for Off-Balance Sheet Positions” below). When the terms of a financial liability are renegotiated or modified then the Group assesses whether the modified terms result in the financial liability being significantly modified and therefore derecognized. This assessment includes a quantitative assessment of the impact of the change in cash flows from the modification of contractual terms and additionally, where necessary, a qualitative assessment of the impact of the change in the contractual terms. Where these modifications are not concluded to be significant, the financial liability is not derecognized and a gain or loss is recognized in the income statement as the difference between the original contractual cash flows and the modified cash flows discounted at the original effective interest rate. Where there is derecognition the original financial liability is derecognized and the new liability recognized at its fair value. Loan commitments Loan commitments remain off-balance sheet, unless allocated to the Other business model and presented as derivatives held for trading. The Group does not recognize and measure changes in fair value of off-balance sheet loan commitments that result from changes in market interest rates or credit spreads. However, as specified in the sections “Impairment of Loans and Provision for Off-Balance Sheet Positions” below, these off-balance sheet loan commitments are in scope of the IFRS 9 impairment model. Financial |
Recently Adopted and New Accoun
Recently Adopted and New Accounting Pronouncements | 12 Months Ended |
Dec. 31, 2021 | |
Recently Adopted and New Accounting Pronouncements [Abstract] | |
Recently Adopted and New Accounting Pronouncements [text block] | 02 – The following are those accounting pronouncements which are relevant to the Group and which have been adopted during 2021 in the preparation of these consolidated financial statements. 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 London Interbank Offered Rate (“LIBOR”) and Eonia (together “IBOR”) on financial reporting. The Group adopted Phase 1 requirements on January 1, 2019. Phase 1 continues to apply for certain USD LIBOR tenors where cessation is not due before June 2023. 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 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 the 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 IBOR 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 IBOR 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 function. 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 IBOR. 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 and financial markets. The Group has significant exposure to IBORs predominantly in financial instruments and many of these contracts mature after the cessation dates for each benchmark. The Group’s exposures from derivatives result from transactions that are entered 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 transformation risk assessment which is refreshed regularly and has identified key inherent risks and mitigating actions to improve the control environment. 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 remaining risks associated with the expected discontinuation of IBOR-referenced benchmark interest rates. In this regard, the Group: – – – – 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. In 2021, the Group made positive progress in its transition activities, particularly in IBORs that ceased publication January 3, 2022. Specifically for these IBORs the Group: – – – – – – 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 continues to examine 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. IFRS 16 “Leases” On August 30, 2021, the Group adopted 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 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 December 31, 2021 and therefore have not been applied in preparing these consolidated financial statements. 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. 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. In December 2021, the IASB issued amendments to IFRS 17 “Insurance Contracts” that is a narrow-scope amendment to the transition requirements of IFRS 17 for entities that first apply IFRS 17 and IFRS 9 at the same time. The amendments (if elected) will be applicable when IFRS 17 is first applied. 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 the 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. These comprise 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. |
Acquisitions and Dispositions
Acquisitions and Dispositions | 12 Months Ended |
Dec. 31, 2021 | |
Acquisitions and Dispositions [Abstract] | |
Acquisitions and Dispositions [text block] | 03 – In the third quarter 2021, the Group completed the acquisition of 100 % € 5 million € 3 million € 5 million During the years 2020 and 2019, the Group did not undertake any acquisitions accounted for as business combinations. The Group finalized several dispositions of subsidiaries/businesses during 2021, 2020 and 2019. These disposals were mainly comprised of businesses the Group had previously classified as held for sale, including the completion of the transfer of the Global Prime Finance & Electronic Equities platform to BNP Paribas in 2021, the sale of Postbank Systems AG in 2020 and the sale of the Private & Commercial Clients business in Portugal in 2019. For more detail, please refer to Note 24 “Non-Current Assets and Disposal Groups Held for Sale”. The total consideration received for these dispositions (thereof in cash) in 2021, 2020 and 2019 was € 34 million € 0 million € 7 million € 7 million € 1.8 billion € 1.8 billion in € m. 2021 2020 2019 Cash and cash equivalents 0 2 0 All remaining assets 3,507 7 2,713 Total assets disposed 3,507 9 2,714 Total liabilities disposed 8,102 79 1,003 |
Business Segments and Related I
Business Segments and Related Information | 12 Months Ended |
Dec. 31, 2021 | |
Business Segments and Related Information [Abstract] | |
Disclosure of entity's operating segments [text block] | 04 – Business segments The Group’s segment reporting follows the organizational structure as reflected in its internal management reporting systems, which are the basis for assessing the financial performance of the business segments and for allocating resources to the business segments. The bank’s business operations are organized under the divisional structure comprising the following corporate divisions: – – – – – – The segmental information for the corporate divisions PB, AM, CRU and C&O remained unchanged in its scope and the related segment information is outlined below. There was a change compared to the prior year presentation related to CB as well as IB which is described in the below section. From the first quarter 2021 reporting onwards, the Corporate Bank reports revenues in the 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 multinational and German 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 in Germany and offers a holistic, largely standardized product suite. The prior years' segmental information is presented in the current structure. The Investment Bank combines Deutsche Bank’s Fixed Income, Currency (FIC) Sales & Trading and, Origination & Advisory, as well as Deutsche Bank Research. Commencing from the second quarter of 2021, the Investment Bank presented CLO recovery gains and losses in its revenue category “Other”. Previously these gains and losses were presented in “FIC Sales & Trading” and “Origination & Advisory”. The prior years' segmental information is presented in the current structure. The Private Bank includes Private Bank Germany and International Private Bank. The division covers personal and private clients, wealthy individuals, entrepreneurs and families. The international businesses also provide services to commercial clients. Asset Management operates under the DWS brand. Asset Management provides investment solutions to individual investors and institutions with a diversified range of Active, Passive and Alternative Asset Management products and services. Capital Release Unit includes the remaining assets transferred in from Equities Sales & Trading business, lower yielding fixed income positions, particularly in Rates, former CIB Non-Strategic portfolio as well as a legacy loan portfolio from the former Private & Commercial Bank in Poland. In the fourth quarter of 2021, the bank concluded the transition of Deutsche Bank’s Prime Finance and Electronic Equities platform to BNP Paribas. Corporate & Other includes revenues, costs and resources held centrally that are not allocated to the individual business segments as well as valuation and timing differences from different accounting methods used for management reporting and IFRS. In addition, based on management decisions during the reporting period further divisional changes were introduced. The prior years' segmental information is presented in the current structure. Measurement of segment profit or loss Segment reporting requires a presentation of the segment results based on management reporting methods, including a reconciliation between the results of the business segments and the consolidated financial statements, which is presented in the “Segmental Results of Operations” section within this note. The information provided about each segment is based on internal management reporting about segment profit or loss, assets and other information which is regularly reviewed by the chief operating decision maker. Segment assets are presented in the Group’s internal management reporting based on a consolidated view, i.e., the amounts do not include intersegment balances. The Group`s internal management reporting does not consider segment liabilities or interest expense separately. Similarly, depreciation and amortization, tax expenses and other comprehensive income are not presented separately internally and are therefore not disclosed here. Non-IFRS compliant accounting methods used in the Group’s management reporting represent either valuation or classification differences. The largest valuation differences relate to measurement at fair value in management reporting versus measurement at amortized cost under IFRS and to the recognition of trading results from own shares in revenues in management reporting (in IB) and in equity under IFRS. The major classification difference relates to noncontrolling interest, which represents the net share of minority shareholders in revenues, provision for credit losses, noninterest expenses and income tax expenses. Noncontrolling interest is reported as a component of the profit before tax of the businesses in management reporting (with a reversal in C&O) and a component of net income appropriation under IFRS. Since the Group’s business activities are diverse in nature and its operations are integrated, certain estimates and judgments have been made to apportion revenue and expense items among the business segments. The management reporting systems allocate the Group’s external net interest income according to the value of funding consumed or provided by each business segment’s activities, in accordance with the bank’s internal funds transfer pricing (“FTP”) framework. Furthermore, to retain comparability with those competitors that have legally independent units with their own equity funding, the Group allocates a net notional interest benefit on its consolidated capital, in line with each segment’s proportion of average shareholders’ equity. Management uses certain measures for equity and related ratios as part of its internal reporting system because it believes that these measures provide it with a useful indication of the financial performance of the business segments. The Group discloses such measures to provide investors and analysts with further insight into how management operates the Group’s businesses and to enable them to better understand the Group’s results. These measures include allocation of average shareholder’s equity. Funds Transfer Pricing In the third quarter of 2019, the FTP framework was changed in order to enhance its effectiveness as a management tool, as well as to better support funding cost optimization. The new FTP framework aims to more accurately allocate funding costs and benefits to the firm’s business divisions in a risk-adjusted and uniform manner across the Group. The methodology changes do not impact overall group funding costs, however, the framework results in a re-allocation of costs and benefits between segments. This re-allocation resulted in a benefit to the trading businesses, partially offset by a reduction in funding benefits to the Private Bank (PB) and Corporate Bank (CB) versus the prior methodology. As part of the introduction of the new framework, a decision was made to hold certain transitional costs in Corporate & Others (C&O), which will reduce over time, reflecting the long dated nature of liabilities. The impact of the new FTP framework for the first half of 2019 would have been a positive impact on the results of IB and CRU of approximately € 140 million € 30 million € 20 million € 30 million € 120 million Allocation of Average Shareholder’s Equity Shareholders’ equity is fully allocated to the Group’s segments based on the regulatory capital demand of each segment. Regulatory capital demand reflects the combined contribution of each segment to the Groups’ Common Equity Tier 1 ratio, the Groups’ Leverage ratio and the Group’s Capital Loss under Stress. Contributions in each of the three dimensions are weighted to reflect their relative importance and level of constraint for the Group. Contributions to the Common Equity Tier 1 ratio and the Leverage ratio are measured through Risk Weighted Assets (RWA) and Leverage Ratio Exposure. The Group’s Capital Loss under Stress is a measure of the Group’s overall economic risk exposure under a defined stress scenario. Goodwill and other intangible assets are directly attributed to the Group’s segments in order to allow the determination of allocated tangible shareholders’ equity and the respective returns. Shareholders’ equity and tangible shareholders’ equity is allocated on a monthly basis and averaged across quarters and for the full year US Tax Exempt Securities Net interest income as a component of net revenues, profit (loss) before tax and related ratios are presented on a fully taxable-equivalent basis for US tax-exempt securities for the Investment Bank. This enables management to measure performance of taxable and tax-exempt securities on a comparable basis. This presentation resulted in an increase in Investment Bank net interest income of € 40 million € 45 million € 35 million 21 % Infrastructure Full-time Employees realignment In the third quarter of 2021, approximately 9,000 Segmental results of operations The following tables present the results of the Group’s business segments, including the reconciliation to the consolidated results of operations under IFRS. 2021 in € m. Corporate Investment Private Asset Management Capital Corporate & Total Net revenues 1 5,150 9,631 8,234 2,708 26 (211) 25,538 Provision for credit losses (3) 104 446 5 (42) 5 515 Noninterest expenses Compensation and benefits 1,447 2,199 2,810 822 128 3,012 10,418 General and administrative expenses 2,659 3,583 4,440 840 1,306 (2,008) 10,821 Impairment of goodwill and other intangible assets 5 0 0 0 0 0 5 Restructuring activities 42 47 173 2 (2) (0) 261 Total noninterest expenses 4,153 5,830 7,423 1,664 1,432 1,004 21,505 Noncontrolling interests 0 (17) 0 223 0 (206) 0 Profit (loss) before tax 1,000 3,715 366 816 (1,364) (1,014) 3,518 Cost/income ratio 81% 61% 90% 61% N/M N/M 84% Assets 2 245,716 615,906 310,496 10,387 131,775 10,425 1,324,705 Additions to non-current assets 17 6 149 32 1 1,734 1,939 Risk-weighted assets 65,406 140,600 85,366 14,415 28,059 17,783 351,629 Leverage exposure (fully loaded) 3 299,892 530,361 320,692 10,678 38,830 22,761 1,124,667 Average allocated shareholders' equity 10,301 24,181 12,663 4,815 4,473 104 56,537 Post-tax return on average shareholders’ equity 4 6 % 10 % 1 % 12 % (23) % N/M 4 % Post-tax return on average tangible shareholders’ equity 4 7 % 11 % 1 % 30 % (23) % N/M 4 % 1 Net interest income 2,605 3,332 4,601 (5) 58 526 11,117 Net income (loss) from equity method investments 3 (34) 40 81 7 1 98 2 Equity method investments 72 462 180 349 25 4 1,091 N/M – Not meaningful 3 The Group leverage exposure is presented excluding certain Euro-based exposures facing Eurosystem central banks based on the ECB-decision (EU) 2020/1306 and after having obtained permission from the ECB. The segmental leverage exposures are presented without that deduction. 4 26 % 28 % 2020 in € m. Corporate Investment Private Asset Management Capital Corporate & Total Net revenues 1 5,146 9,286 8,126 2,229 (225) (552) 24,011 Provision for credit losses 364 690 711 2 29 (4) 1,792 Noninterest expenses Compensation and benefits 1,402 2,081 2,863 740 168 3,217 10,471 General and administrative expenses 2,813 3,323 4,238 763 1,774 (2,652) 10,259 Impairment of goodwill and other intangible assets 0 0 0 0 0 0 0 Restructuring activities 28 14 413 22 5 3 485 Total noninterest expenses 4,243 5,418 7,513 1,526 1,947 568 21,216 Noncontrolling interests 0 11 0 157 (0) (169) 0 Profit (loss) before tax 539 3,166 (99) 544 (2,200) (947) 1,003 Cost/income ratio 82 % 58 % 92 % 68 % N/M N/M 88 % Assets 2 237,675 573,536 296,596 9,453 197,667 10,035 1,324,961 Additions to non-current assets 10 4 202 32 0 3,174 3,423 Risk-weighted assets 57,483 128,292 77,074 9,997 34,415 21,690 328,951 Leverage exposure (fully loaded) 3 273,959 476,097 307,746 4,695 71,726 29,243 1,078,268 Average allocated shareholders' equity 9,945 22,911 11,553 4,757 6,166 (23) 55,308 Post-tax return on average shareholders’ equity 4 3 % 9 % (1) % 8 % (26) % N/M 0 % Post-tax return on average tangible shareholders’ equity 4 3 % 10 % (1) % 21 % (27) % N/M 0 % 1 Net interest income 2,883 3,325 4,499 1 61 779 11,548 Net income (loss) from equity method investments 3 22 23 63 9 1 120 2 Equity method investments 69 399 60 304 67 4 901 N/M – Not meaningful Prior year segmental information presented in the current structure. 3 The Group leverage exposure is presented excluding certain Euro-based exposures facing Eurosystem central banks based on the ECB-decision (EU) 2020/1306 and after having obtained permission from the ECB. The segmental leverage exposures are presented without that deduction. 4 39 % 28 % 2019 in € m. Corporate Investment Private Asset Management Capital Corporate & Total Net revenues 1 5,247 7,023 8,239 2,332 217 107 23,165 Provision for credit losses 284 110 344 1 (14) (0) 723 Noninterest expenses Compensation and benefits 1,419 2,156 2,971 832 359 3,406 11,142 General and administrative expenses 2,829 4,073 4,517 851 2,898 (2,916) 12,253 Impairment of goodwill and other intangible assets 492 0 545 0 0 0 1,037 Restructuring activities 137 169 125 29 143 41 644 Total noninterest expenses 4,877 6,397 8,159 1,711 3,400 531 25,076 Noncontrolling interests 0 20 (0) 152 1 (173) 0 Profit (loss) before tax 86 496 (263) 468 (3,170) (251) (2,634) Cost/income ratio 93 % 91 % 99 % 73 % N/M N/M 108 % Assets 2 228,846 501,591 270,334 9,936 259,224 27,743 1,297,674 Additions to non-current assets 9 1 167 27 0 1,117 1,322 Risk-weighted assets 58,993 116,367 74,032 9,527 45,874 19,223 324,015 Leverage exposure (fully loaded) 270,836 432,066 282,575 4,643 126,905 51,016 1,168,040 Average allocated shareholders' equity 10,340 21,736 11,663 4,865 7,253 4,314 60,170 Post-tax return on average shareholders’ equity 3 (0) % 1 % (2) % 7 % (32) % N/M (10) % Post-tax return on average tangible shareholders’ equity 3 (0) % 1 % (2) % 18 % (33) % N/M (11) % 1 Net interest income 2,635 2,709 4,838 (39) 85 3,520 13,749 Net income (loss) from equity method investments 3 32 14 49 12 1 110 2 Equity method investments 66 412 82 276 90 4 929 N/M – Not meaningful Prior year segmental information presented in the current structure. 3 (100) % 28 % Corporate Bank 2021 increase (decrease) 2020 increase (decrease) in € m. 2021 2020 2019 in € m. in % in € m. in % Net revenues Corporate Treasury Services 3,130 3,125 3,077 5 0 48 2 Institutional Client Services 1,294 1,274 1,405 20 2 (131) (9) Business Banking 726 747 765 (21) (3) (18) (2) Total net revenues 5,150 5,146 5,247 4 0 (101) (2) Of which: Net interest income 2,605 2,883 2,635 (278) (10) 248 9 Commissions and fee income 2,203 2,078 2,192 125 6 (114) (5) Remaining income 343 185 420 158 85 (235) (56) Provision for credit losses (3) 364 284 (367) N/M 80 28 Noninterest expenses Compensation and benefits 1,447 1,402 1,419 46 3 (17) (1) General and administrative expenses 2,659 2,813 2,829 (154) (5) (16) (1) Impairment of goodwill and other intangible assets 5 0 492 5 N/M (492) N/M Restructuring activities 42 28 137 13 47 (108) (79) Total noninterest expenses 4,153 4,243 4,877 (90) (2) (634) (13) Noncontrolling interests 0 0 0 0 N/M 0 N/M Profit (loss) before tax 1,000 539 86 461 86 453 N/M Total assets (in € bn) 1 246 238 229 8 3 9 4 Loans (gross of allowance for loan losses, in € bn) 122 115 119 8 7 (5) (4) Employees (full-time equivalent) 13,265 13,320 13,471 (55) (0) (151) (1) N/M – Not meaningful Prior year segmental information presented in the current structure. 1 Segment assets represent consolidated view, i.e., the amounts do not include intersegment balances. Investment Bank 2021 increase (decrease) 2020 increase (decrease) in € m. 2021 2020 2019 in € m. in % in € m. in % Net revenues Fixed Income, Currency (FIC) Sales & Trading 7,063 7,074 5,524 (11) (0) 1,550 28 Debt Origination 1,573 1,500 1,117 73 5 383 34 Equity Origination 544 369 148 174 47 221 149 Advisory 491 244 370 247 101 (126) (34) Origination & Advisory 2,608 2,114 1,635 494 23 479 29 Other (40) 99 (136) (139) N/M 235 N/M Total net revenues 9,631 9,286 7,023 345 4 2,263 32 Provision for credit losses 104 690 110 (587) (85) 581 N/M Noninterest expenses Compensation and benefits 2,199 2,081 2,156 118 6 (75) (3) General and administrative expenses 3,583 3,323 4,073 260 8 (750) (18) Impairment of goodwill and other intangible assets 0 0 0 0 N/M 0 N/M Restructuring activities 47 14 169 33 N/M (155) (92) Total noninterest expenses 5,830 5,418 6,397 411 8 (979) (15) Noncontrolling interests (17) 11 20 (29) N/M (8) (41) Profit (loss) before tax 3,715 3,166 496 549 17 2,670 N/M Total assets (in € bn) 1 616 574 502 42 7 72 14 Loans (gross of allowance for loan losses, in € bn) 93 69 75 24 34 (6) (8) Employees (full-time equivalent) 7,202 7,584 7,494 (382) (5) 90 1 N/M – Not meaningful Prior year segmental information presented in the current structure 1 Segment assets represent consolidated view, i.e., the amounts do not include intersegment balances. Private Bank 2021 increase (decrease) 2020 increase (decrease) in € m. 2021 2020 2019 in € m. in % in € m. in % Net revenues: Private Bank Germany 5,008 4,989 5,109 19 0 (120) (2) International Private Bank 3,226 3,136 3,130 90 3 7 0 IPB Personal Banking 1 908 870 905 38 4 (34) (4) IPB Private Banking 2 2,318 2,266 2,225 52 2 41 2 Total net revenues 8,234 8,126 8,239 109 1 (113) (1) Of which: Net interest income 4,601 4,499 4,838 102 2 (339) (7) Commissions and fee income 3,207 3,052 2,866 155 5 187 7 Remaining income 426 574 534 (148) (26) 40 7 Provision for credit losses 446 711 344 (265) (37) 367 107 Noninterest expenses: Compensation and benefits 2,810 2,863 2,971 (53) (2) (108) (4) General and administrative expenses 4,440 4,238 4,517 202 5 (280) (6) Impairment of goodwill and other intangible assets 0 0 545 0 N/M (545) N/M Restructuring activities 173 413 125 (240) (58) 287 N/M Total noninterest expenses 7,423 7,513 8,159 (91) (1) (645) (8) Noncontrolling interests 0 0 (0) (0) (87) 1 N/M Profit (loss) before tax 366 (99) (263) 465 N/M 164 (62) Total assets (in € bn) 3 310 297 270 14 5 26 10 Loans (gross of allowance for loan losses, in € bn) 254 237 227 17 7 10 5 Assets under Management (in € bn) 4 553 493 482 59 12 11 2 Net flows (in € bn) 30 16 4 14 88 12 N/M Employees (full-time equivalent) 28,100 29,764 31,421 (1,665) (6) (1,657) (5) 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 Segment assets represent consolidated view, i.e., the amounts do not include intersegment balances 4 Asset Management 2021 increase (decrease) 2020 increase (decrease) in € m. 2021 2020 2019 in € m. in % in € m. in % Net revenues Management Fees 2,370 2,136 2,141 233 11 (5) (0) Performance and transaction fees 212 90 201 122 135 (111) (55) Other 126 3 (10) 123 N/M 13 N/M Total net revenues 2,708 2,229 2,332 478 21 (103) (4) Provision for credit losses 5 2 1 3 148 1 59 Noninterest expenses Compensation and benefits 822 740 832 82 11 (92) (11) General and administrative expenses 840 763 851 77 10 (88) (10) Impairment of goodwill and other intangible assets 0 0 0 (0) N/M 0 N/M Restructuring activities 2 22 29 (20) (92) (6) (22) Total noninterest expenses 1,664 1,526 1,711 138 9 (185) (11) Noncontrolling interests 223 157 152 66 42 5 4 Profit (loss) before tax 816 544 468 272 50 76 16 Total assets (in € bn) 1 10 9 10 1 10 (0) (5) Assets under Management (in € bn) 928 793 768 135 17 25 3 Net flows (in € bn) 48 30 25 17 N/M 5 N/M Employees (full-time equivalent) 4,072 3,926 3,925 146 4 1 0 N/M – Not meaningful Prior year segmental information presented in the current structure. 1 Segment assets represent consolidated view, i.e., the amounts do not include intersegment balances. Capital Release Unit 2021 increase (decrease) 2020 increase (decrease) in € m. 2021 2020 2019 in € m. in % in € m. in % Net revenues 26 (225) 217 251 N/M (442) N/M Provision for credit losses (42) 29 (14) (70) N/M 43 N/M Noninterest expenses Compensation and benefits 128 168 359 (40) (24) (191) (53) General and administrative expenses 1,306 1,774 2,898 (468) (26) (1,124) (39) Impairment of goodwill and other intangible assets 0 0 0 0 N/M 0 N/M Restructuring activities (2) 5 143 (7) N/M (139) (97) Total noninterest expenses 1,432 1,947 3,400 (515) (26) (1,453) (43) Noncontrolling interests - (0) 1 0 N/M (1) N/M Profit (loss) before tax (1,364) (2,200) (3,170) 836 (38) 970 (31) Total assets (in € bn) 1 132 198 259 (66) (33) (62) (24) Employees (full-time equivalent) 267 478 614 (211) (44) (136) (22) N/M – Not meaningful Prior year segmental information presented in the current structure. 1 Segment assets represent consolidated view, i.e., the amounts do not include intersegment balances. Corporate & Other (C&O) 2021 increase (decrease) 2020 increase (decrease) in € m. 2021 2020 2019 in € m. in % in € m. in % Net revenues (211) (552) 107 340 (62) (659) N/M Provision for credit losses 5 (4) (0) 9 N/M (3) N/M Noninterest expenses Compensation and benefits 3,012 3,217 3,406 (206) (6) (188) (6) General and administrative expenses (2,008) (2,652) (2,916) 644 (24) 263 (9) Impairment of goodwill and other intangible assets 0 0 0 0 N/M 0 N/M Restructuring activities (0) 3 41 (3) N/M (38) (93) Total noninterest expenses 1,004 568 531 436 77 37 7 Noncontrolling interests (206) (169) (173) (37) 22 3 (2) Profit (loss) before tax (1,014) (947) (251) (68) 7 (696) N/M Employees (full-time equivalent) 30,064 29,587 30,672 477 2 (1,085) (4) N/M – Not meaningful Prior year segmental information presented in the current structure. Entity-wide disclosures The Group’s Entity-Wide Disclosures include net revenues from internal and external counterparties. Excluding revenues from internal counterparties would require disproportionate IT investment and is not in line with the Bank's management approach. For details of the net revenue components please see “Management Report: Operating and Financial Review: Results of Operations: Corporate Divisions”. The following table presents total net revenues (before provisions for credit losses) by geographic area for the years ended December 31, 2021, 2020 and 2019, respectively. The information presented for CB, IB, PB, AM and CRU has been classified based primarily on the location of the Group’s office in which the revenues are recorded. The information for C&O is presented on a global level only, as management responsibility for C&O is held centrally. in € m. 2021 2020 2019 Germany: Corporate Bank 2,593 2,538 2,444 Investment Bank 450 431 364 Private Bank 5,481 5,456 5,562 Asset Management 1,385 992 1,054 Capital Release Unit 4 23 80 Total Germany 9,914 9,441 9,504 UK: Corporate Bank 144 110 207 Investment Bank 3,642 3,552 2,244 Private Bank (2) 31 29 Asset Management 336 292 345 Capital Release Unit (122) (383) (181) Total UK 3,997 3,602 2,645 Rest of Europe, Middle East and Africa: Corporate Bank 900 934 846 Investment Bank 255 358 292 Private Bank 1,783 1,682 1,676 Asset Management 286 344 380 Capital Release Unit 26 35 99 Total Rest of Europe, Middle East and Africa 3,249 3,355 3,293 Americas (primarily United States): Corporate Bank 750 768 951 Investment Bank 3,904 3,285 2,701 Private Bank 364 362 379 Asset Management 537 465 437 Capital Release Unit 41 50 88 Total Americas 5,596 4,929 4,556 Asia/Pacific: Corporate Bank 764 796 798 Investment Bank 1,381 1,660 1,421 Private Bank 608 594 593 Asset Management 163 136 116 Capital Release Unit 77 49 130 Total Asia/Pacific 2,993 3,236 3,059 Corporate and Other (211) (552) 107 Consolidated net revenues 1 25,538 24,011 23,165 1 Consolidated net revenues comprise interest and similar income, interest expenses and total noninterest income (including net commission and fee income). Revenues are attributed to countries based on the location in which the Group’s booking office is located. The location of a transaction on the Group’s books is sometimes different from the location of the headquarters or other offices of a customer and different from the location of the Group’s personnel who entered into or facilitated the transaction. Where the Group records a transaction involving its staff and customers and other third parties in different locations frequently depends on other considerations, such as the nature of the transaction, regulatory considerations and transaction processing considerations. |
Net Interest Income and Net Gai
Net Interest Income and Net Gains (Losses) on Financial Assets/Liabilities at Fair Value through Profit or Loss | 12 Months Ended |
Dec. 31, 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] | 05 – Net interest income in € m. 2021 2020 2019 Interest and similar income: Interest income on cash and central bank balances 160 321 1,762 Interest income on interbank balances (w/o central banks) 67 325 293 Central bank funds sold and securities purchased under resale agreements 273 318 340 Loans 10,650 11,586 13,760 Other 1 1,747 896 824 Total Interest and similar income from assets measured at amortized cost 12,897 13,446 16,979 Interest income on financial assets at fair value through other comprehensive income 501 635 1,023 Total interest and similar income calculated using the effective interest method 13,399 14,081 18,002 Financial assets at fair value through profit or loss 1 3,374 3,873 7,205 Total interest and similar income 16,773 17,954 25,208 Thereof: negative interest expense on financial liabilities 1,217 636 372 Interest expense: Interest-bearing deposits 1,456 2,065 3,643 Central bank funds purchased and securities sold under repurchase agreements 148 169 367 Other short-term borrowings 71 62 163 Long-term debt 1,484 1,612 2,002 Trust preferred securities 3 42 187 Other 876 807 1,667 Total interest expense measured at amortized cost 4,036 4,758 8,030 Financial liabilities at fair value through profit or loss 1,619 1,648 3,429 Total interest expense 5,655 6,405 11,458 Thereof: negative interest income on financial assets 786 582 743 Net interest income 11,117 11,548 13,749 1 Prior years' comparatives aligned to presentation in the current year. € 0 million € 43 million € 93 million Impact of ECB Targeted Longer-term Refinancing Operations (TLTRO III) 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 0 % 0.5 % (0.5) % 0.5 % 0 % As of December 31, 2021, the Group has borrowed € 44.7 billion € 37.5 billion (1) % € 494 million € 86 million Net gains (losses) on financial assets/liabilities at fair value through profit or loss in € m. 2021 2020 2019 Trading income (loss): FIC Sales and Trading 2,780 3,457 2,563 Other trading income (loss) (827) (1,360) (2,366) Total trading income (loss) 1,954 2,097 197 Net gains (losses) on non-trading financial assets mandatory at fair value through profit or loss: Breakdown by financial assets category: Debt Securities 95 5 72 Equity Securities 812 114 271 Loans and loan commitments 18 (38) 28 Deposits 2 (9) (19) Others non-trading financial assets mandatory at fair value through profit and loss 180 203 25 Total net gains (losses) on non-trading financial assets mandatory at fair value through profit or loss: 1,106 276 377 Net gains (losses) on financial assets/liabilities designated at fair value through profit or loss: Breakdown by financial asset/liability category: Loans and loan commitments 11 15 (9) Deposits 5 (1) (0) Long-term debt 48 (71) (386) Other financial assets/liabilities designated at fair value through profit or loss 15 16 15 Total net gains (losses) on financial assets/liabilities designated at fair value through profit or loss 79 (40) (381) Total net gains (losses) on financial assets/liabilities at fair value through profit or loss 3,139 2,332 193 Combined net interest income and net gains (losses) on financial assets/liabilities at fair value through profit or loss in € m. 2021 2020 2019 Net interest income 11,117 11,548 13,749 Trading income (loss) 1 1,954 2,097 197 Net gains (losses) on non-trading financial assets mandatory at fair value through profit or loss 1,106 276 377 Net gains (losses) on financial assets/liabilities designated at fair value through profit or loss 79 (40) (381) Total net gains (losses) on financial assets/liabilities at fair value through profit or loss 3,139 2,332 193 Total net interest income and net gains (losses) on financial assets/liabilities at fair value 2 14,256 13,880 13,942 Corporate Treasury Services 1,814 2,073 1,757 Institutional Client Services 326 311 405 Business Banking 526 555 556 Corporate Bank 2,666 2,939 2,718 FIC Sales & Trading 6,917 6,991 5,696 Remaining Products (26) 202 (253) Investment Bank 6,891 7,193 5,442 Private Bank Germany 3,114 2,956 3,292 International Private Bank 1,733 1,693 1,699 Private Bank 4,847 4,648 4,991 Asset Management 246 (98) 87 Capital Release Unit (18) (33) 155 Corporate & Other (375) (768) 549 Total net interest income and net gains (losses) on financial assets/liabilities at fair value 14,256 13,880 13,942 1 Prior year segmental information presented in the current structure. 2 The Group’s trading and risk management businesses include significant activities in interest rate instruments and related derivatives. Under IFRS, interest and similar income earned from trading instruments and financial instruments designated at fair value through profit or loss (i.e., coupon and dividend income), and the costs of funding net trading positions, are part of net interest income. The Group’s trading activities can periodically shift income to either net interest income or to net gains (losses) of financial assets/liabilities at fair value through profit or loss depending on a variety of factors, including risk management strategies. The above table combines net interest income and net gains (losses) of financial assets/liabilities at fair value through profit or loss by business division. |
Commission and Fee Income
Commission and Fee Income | 12 Months Ended |
Dec. 31, 2021 | |
Commissions and Fee Income [Abstract] | |
Disclosure of fee and commission income (expense) [text block] | 06 – in € m. 2021 2020 2019 Commission and fee income and expense: Commission and fee income 13,730 12,044 12,283 Commission and fee expense 2,796 2,620 2,763 Net commissions and fee income 10,934 9,424 9,520 Disaggregation of revenues by product type and business segment Dec 31,2021 in € m. Corporate Investment Private Asset Capital Corporate & Total Major type of services: Commissions for administration 231 27 259 21 4 (2) 539 Commissions for assets under management 16 1 369 3,570 (0) 0 3,956 Commissions for other securities 423 (0) 43 1 0 0 467 Underwriting and advisory fees 35 2,258 12 0 (0) (41) 2,264 Brokerage fees 22 246 1,302 96 118 (0) 1,784 Commissions for local payments 441 4 864 0 0 10 1,320 Commissions for foreign commercial business 456 23 95 0 (0) (2) 572 Commissions for foreign currency/exchange business 11 0 5 0 0 (0) 16 Commissions for loan processing and guarantees 564 279 305 0 5 5 1,157 Intermediary fees 12 3 617 0 0 11 644 Fees for sundry other customer services 282 562 40 121 4 2 1,011 Total fee and commissions income 2,494 3,403 3,910 3,809 132 (18) 13,730 Gross expense (2,796) Net fees and commissions 10,934 Dec 31,2020 in € m. Corporate Investment Private Asset Capital Corporate & Total Major type of services: Commissions for administration 245 17 235 23 1 (3) 518 Commissions for assets under management 19 1 319 3,090 (0) 0 3,429 Commissions for other securities 365 0 35 0 0 0 401 Underwriting and advisory fees 29 1,688 13 0 1 (42) 1,688 Brokerage fees 21 357 1,103 72 113 (1) 1,665 Commissions for local payments 436 (2) 951 (0) 0 8 1,394 Commissions for foreign commercial business 409 25 104 0 0 (3) 536 Commissions for foreign currency/exchange business 4 0 6 0 0 (0) 11 Commissions for loan processing and guarantees 529 210 305 0 7 7 1,058 Intermediary fees 9 2 579 1 1 12 604 Fees for sundry other customer services 276 289 39 131 4 1 741 Total fee and commissions income 2,344 2,588 3,689 3,317 127 (20) 12,044 Gross expense (2,620) Net fees and commissions 9,424 Prior year segmental information presented in the current structure. Fee and commission income and gross expense have been restated by € 182 million for 2020. The reclassifications did not affect net fee and commission income. Dec 31,2019 in € m. Corporate Investment Private Asset Capital Corporate & Total Major type of services: Commissions for administration 251 8 234 23 5 (0) 521 Commissions for assets under management 22 1 304 3,219 1 1 3,547 Commissions for other securities 330 (0) 28 1 1 0 359 Underwriting and advisory fees 29 1,568 15 0 61 (17) 1,656 Brokerage fees 13 253 930 81 470 4 1,751 Commissions for local payments 497 0 974 (0) 1 2 1,474 Commissions for foreign commercial business 455 26 106 0 0 (1) 586 Commissions for foreign currency/exchange business 7 0 7 0 0 0 15 Commissions for loan processing and guarantees 497 189 281 0 16 5 989 Intermediary fees 35 2 486 0 1 11 535 Fees for sundry other customer services 297 349 54 127 23 0 850 Total fee and commissions income 2,433 2,395 3,419 3,451 578 7 12,283 Gross expense (2,763) Net fees and commissions 9,520 Prior year segmental information presented in the current structure. € 244 million € 66 million As of December 31, 2021, and December 31, 2020, the Group’s balance of receivables from commission and fee income was € 834 million € 876 million € 70 million € 65 million |
Gain and Losses on Derecognitio
Gain and Losses on Derecognition of Financial Assets at Amortized Cost | 12 Months Ended |
Dec. 31, 2021 | |
Gain and Losses on derecognition of Financial Assets at Amortized Cost [Abstract] | |
Disclosure on Gain and Losses on derecognition of Financial Assets at Amortized Cost [text block] | 07 – For the twelve months ended December 31, 2021, the Group sold financial assets measured at amortized cost of € 539 million € 10 billion € 390 million The table below presents the gains and (losses) arising from derecognition of these securities. in € m. 2021 2020¹ 2019¹ Gains 15 344 5 Losses (15) (33) (2) Net gains (losses) from derecognition of financial assets measured at amortized cost 1 311 3 1 Prior years' comparatives aligned to presentation in the current year. |
Other Income
Other Income | 12 Months Ended |
Dec. 31, 2021 | |
Other Income [Abstract] | |
Disclosure of other operating income [text block] | 08 – in € m. 2021 2020² 2019² Other income (loss): Insurance premiums 3 3 3 Net income (loss) from hedge relationships qualifying for hedge accounting 195 (214) (635) Remaining other income (loss) 1 (185) 162 (40) Total other income (loss) 13 (48) (671) 1 Includes net gains (losses) of € 10 million € -59 million € 4 million 2 Prior years' comparatives aligned to presentation in the current year. |
General and Administrative Expe
General and Administrative Expenses | 12 Months Ended |
Dec. 31, 2021 | |
General and administrative expenses [Abstract] | |
Disclosure of general and administrative expense [text block] | 09 – in € m. 2021 2020 2019 General and administrative expenses: Information Technology 4,321 3,862 5,011 Occupancy, furniture and equipment expenses 1,727 1,724 1,693 Regulatory, Tax & Insurance 1 1,395 1,407 1,440 Professional services 2 924 977 1,142 Banking Services and outsourced operations 2 946 967 969 Market Data and Research Services 347 376 421 Travel expenses 46 76 256 Marketing expenses 178 174 251 Other expenses 3 938 697 1,070 Total general and administrative expenses 10,821 10,259 12,253 1 Includes bank levy of € 553 million € 633 million € 622 million 2 Prior years' comparatives aligned to presentation in the current year. 3 Includes litigation related expenses of € 466 million € 158 million € 473 million |
Restructuring
Restructuring | 12 Months Ended |
Dec. 31, 2021 | |
Restructuring [Abstract] | |
Disclosure of Restructuring [text block] | 10 – 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 in € m. 2021 2020 2019 Corporate Bank 42 28 137 Investment Bank 47 14 169 Private Bank 173 413 125 Asset Management 2 22 29 Capital Release Unit (2) 5 143 Corporate & Other (0) 3 41 Total Net Restructuring Charges 261 485 644 Net restructuring by type in € m. 2021 2020 2019 Restructuring – Staff related 241 479 641 thereof: Termination Benefits 224 441 476 Retention Acceleration 16 36 156 Social Security 1 1 9 Restructuring – Non Staff related 21 6 2 Total Net Restructuring Charges 261 485 644 Provisions for restructuring amounted to € 582 million € 676 million € 684 million During 2021, 1,362 1,447 2,564 Organizational changes Full-time equivalent staff 2021 2020 2019 Corporate Bank 228 303 138 Investment Bank 149 100 626 Private Bank 776 630 731 Asset Management 10 48 136 Capital Release Unit 13 69 514 Infrastructure 186 297 419 Total full-time equivalent staff 1,362 1,447 2,564 |
Earnings per Common Share_2
Earnings per Common Share | 12 Months Ended |
Dec. 31, 2021 | |
Earnings per share [Abstract] | |
Disclosure of earnings per share [text block] | 11 – Basic earnings per share amounts are computed by dividing net income (loss) attributable to Deutsche Bank shareholders by the average number of common shares outstanding during the year. The average number of common shares outstanding is defined as the average number of common shares issued, reduced by the average number of shares in treasury and by the average number of shares that will be acquired under physically-settled forward purchase contracts, and increased by undistributed vested shares awarded under deferred share plans. Diluted earnings per share assumes the conversion into common shares of outstanding securities or other contracts to issue common stock, such as share options, convertible debt, unvested deferred share awards and forward contracts. The aforementioned instruments are only included in the calculation of diluted earnings per share if they are dilutive in the respective reporting period. Computation of basic and diluted earnings per share in € m. 2021 2020 2019 Net income (loss) attributable to Deutsche Bank shareholders and additional equity components 2,451 483 (5,390) Coupons paid on additional equity components (363) (349) (330) Net income (loss) attributable to Deutsche Bank shareholders – 2,088 135 (5,719) Effect of dilutive securities 0 0 0 Net income (loss) attributable to Deutsche Bank shareholders after assumed 2,088 135 (5,719) Number of shares in million Weighted-average shares outstanding – denominator for basic earnings per share 2,096.5 2,108.2 2,110.0 Effect of dilutive securities: Forwards 0.0 0.0 0.0 Employee stock compensation options 0.0 0.0 0.0 Deferred shares 46.6 62.0 0.0 Other (including trading options) 0.0 0.0 0.0 Dilutive potential common shares 0.0 0.0 0.0 Adjusted weighted-average shares after assumed conversions – 2,143.2 2,170.1 2,110.0 Earnings per share in € 2021 2020 2019 Basic earnings per share 1.00 0.06 (2.71) Diluted earnings per share 0.97 0.06 (2.71) Due to the net loss situation for 2019 potentially dilutive shares are generally not considered for the earnings per share calculation, because to do so would have been anti-dilutive and hence decreased the net loss per share. Instruments outstanding and not included in the calculation of diluted earnings per share 1 Number of shares in m. 2021 2020 2019 Call options sold 0.0 0.0 0.0 Employee stock compensation options 0.0 0.0 0.0 Deferred shares 0.0 0.0 117.6 |
Financial Assets_Liabilities at
Financial Assets/Liabilities at Fair Value through Profit or Loss | 12 Months Ended |
Dec. 31, 2021 | |
Financial Assets/Liabilities at Fair Value through Profit or Loss [Abstract] | |
Disclosure of financial instruments at fair value through profit or loss [text block] | Notes to the consolidated balance sheet 12 – in € m. Dec 31, 2021 Dec 31, 2020 Financial assets classified as held for trading: Trading assets: Trading securities 92,536 97,756 Other trading assets 1 9,860 10,173 Total trading assets 102,396 107,929 Positive market values from derivative financial instruments 299,732 343,493 Total financial assets classified as held for trading 402,128 451,422 Non-trading financial assets mandatory at fair value through profit or loss: Securities purchased under resale agreements 59,931 46,057 Securities borrowed 18,355 17,009 Loans 895 2,192 Other financial assets mandatory at fair value through profit or loss 9,784 10,864 Total Non-trading financial assets mandatory at fair value through profit or loss 88,965 76,121 Financial assets designated at fair value through profit or loss: Loans 139 437 Other financial assets designated at fair value through profit or loss 0 0 Total financial assets designated at fair value through profit or loss 140 437 Total financial assets at fair value through profit or loss 491,233 527,980 1 Includes traded loans of € 9.2 billion € 8.3 billion in € m. Dec 31, 2021 Dec 31, 2020 Financial liabilities classified as held for trading: Trading liabilities: Trading securities 54,235 43,882 Other trading liabilities 483 434 Total trading liabilities 54,718 44,316 Negative market values from derivative financial instruments 287,109 327,775 Total financial liabilities classified as held for trading 341,827 372,090 Financial liabilities designated at fair value through profit or loss: Securities sold under repurchase agreements 53,364 41,636 Loan commitments 7 2 Long-term debt 3,699 3,374 Other financial liabilities designated at fair value through profit or loss 1,397 1,570 Total financial liabilities designated at fair value through profit or loss 58,468 46,582 Investment contract liabilities 562 526 Total financial liabilities at fair value through profit or loss 400,857 419,199 Financial assets & liabilities designated at fair value through profit or loss The Group has designated various lending relationships at fair value through profit or loss. Lending facilities consist of drawn loan assets and undrawn irrevocable loan commitments. The maximum exposure to credit risk on a drawn loan is its fair value. The Group’s maximum exposure to credit risk on drawn loans was € 139 million € 437 million The credit risk on the securities purchased under resale agreements and securities borrowed designated under the fair value option is mitigated by the holding of collateral. The valuation of these instruments takes into account the credit enhancement in the form of the collateral received. As such there is no material movement during the year or cumulatively due to movements in counterparty credit risk on these instruments. Changes in fair value of financial assets attributable to movements in counterparty credit risk in € m. Dec 31, 2021 Dec 31, 2020 Notional value of financial assets exposed to credit risk 136 439 Annual change in the fair value reflected in the Statement of Income 1 (8) Cumulative change in the fair value 0 (8) Notional of credit derivatives used to mitigate credit risk 98 166 Annual change in the fair value reflected in the Statement of Income 0 8 Cumulative change in the fair value 0 8 Changes in fair value of financial liabilities attributable to movements in the Group’s credit risk 1 in € m. Dec 31, 2021 Dec 31, 2020 Presented in Other comprehensive Income Cumulative change in the fair value 7 (12) Presented in Statement of income Annual change in the fair value reflected in the Statement of Income 0 0 Cumulative change in the fair value 0 0 1 The fair value of a financial liability incorporates the credit risk of that financial liability. Changes in the fair value of financial liabilities issued by consolidated structured entities have been excluded as this is not related to the Group’s credit risk but to that of the legally isolated structured entity, which is dependent on the collateral it holds. Transfers of the cumulative gains or losses within equity during the period in € m. Dec 31, 2021 Dec 31, 2020 Cumulative gains or losses within equity during the period 0 0 Amounts realized on derecognition of liabilities designated at fair value through profit or loss in € m. Dec 31, 2021 Dec 31, 2020 Amount presented in other comprehensive income realized at derecognition 0 0 The excess of the contractual amount repayable at maturity over the carrying value of financial liabilities 1 in € m. Dec 31, 2021 Dec 31, 2020 Including undrawn loan commitments² 2,943 963 Excluding undrawn loan commitments 607 159 1 Assuming the liability is extinguished at the earliest contractual maturity that the Group can be required to repay. When the amount payable is not fixed, it is determined by reference to conditions existing at the reporting date. 2 The contractual cash flows at maturity for undrawn loan commitments assume full drawdown of the facility. |
Financial Instruments carried a
Financial Instruments carried at Fair Value | 12 Months Ended |
Dec. 31, 2021 | |
Financial Instruments carried at Fair Value [Abstract] | |
Disclosure of fair value of financial instruments [text block] | 13 – Valuation Methods and Control The Group has an established valuation control framework which governs internal control standards, methodologies, and procedures over the valuation process. Prices Quoted in Active Markets – Valuation Techniques For some financial instruments a rate or other parameter, rather than a price, is quoted. Where this is the case then the market rate or parameter is used as an input to a valuation model to determine fair value. For some instruments, modelling techniques follow industry standard models, for example, discounted cash flow analysis and standard option pricing models. These models are dependent upon estimated future cash flows, discount factors and volatility levels. For more complex or unique instruments, more sophisticated modelling techniques are required, and may rely upon assumptions or more complex parameters such as correlations, prepayment speeds, default rates and loss severity. Frequently, valuation models require multiple parameter inputs. Where possible, parameter inputs are based on observable data or are derived from the prices of relevant instruments traded in active markets. Where observable data is not available for parameter inputs, then other market information is considered. For example, indicative broker quotes and consensus pricing information are used to support parameter inputs where they are available. Where no observable information is available to support parameter inputs then they are based on other relevant sources of information such as prices for similar transactions, historic data, economic fundamentals, and research information, with appropriate adjustment to reflect the terms of the actual instrument being valued and current market conditions. Valuation Adjustments Where complex valuation models are used, or where less-liquid positions are being valued, then bid-offer levels for those positions may not be available directly from the market, and therefore for the close-out cost of these positions, models and parameters must be estimated. When these adjustments are designed, the Group closely examines the valuation risks associated with the model as well as the positions themselves, and the resulting adjustments are closely monitored on an ongoing basis. Counterparty Credit Valuation Adjustments (CVAs) are required to cover expected credit losses to the extent that the valuation technique does not already include an expected credit loss factor relating to the non-performance risk of the counterparty. The CVA amount is applied to all relevant over-the-counter (OTC) derivatives, and is determined by assessing the potential credit exposure to a given counterparty and taking into account any collateral held, the effect of any relevant netting arrangements, expected loss given default and the probability of default, based on available market information, including Credit Default Swap (CDS) spreads. Where counterparty CDS spreads are not available, relevant proxies are used. The fair value of the Group’s financial liabilities at fair value through profit or loss (i.e., OTC derivative liabilities and issued note liabilities designated at fair value through profit or loss) incorporates valuation adjustments to measure the change in the Group’s own credit risk (i.e. Debt Valuation Adjustments (DVA) for Derivatives and Own Credit Adjustment (OCA) for structured notes). For derivative liabilities the Group considers its own creditworthiness by assessing all counterparties’ expected future exposure to the Group, taking into account any collateral posted by the Group, the effect of relevant netting arrangements, the probability of default of the Group, based on the Group’s market CDS level and the expected loss given default, taking into account the seniority of derivative claims under resolution (statutory subordination). Issued note liabilities are discounted utilizing the spread at which similar instruments would be issued or bought back at the measurement date as this reflects the value from the perspective of a market participant who holds the identical item as an asset. This spread is further parameterized into a market level of funding component and an idiosyncratic own credit component. Under IFRS 9 the change in the own credit component is reported under Other Comprehensive Income (OCI). When determining CVA and DVA, additional adjustments are made where appropriate to achieve fair value, due to the expected loss estimate of a particular arrangement, or where the credit risk being assessed differs in nature to that described by the available CDS instrument. Funding Valuation Adjustments (FVA) are required to incorporate the market implied funding costs into the fair value of derivative positions. The FVA reflects a discounting spread applied to uncollateralized and partially collateralized derivatives and is determined by assessing the market-implied funding costs on both assets and liabilities. Where there is uncertainty in the assumptions used within a modelling technique, an additional adjustment is taken to calibrate the model price to the expected market price of the financial instrument. Typically, such transactions have bid-offer levels which are less observable, and these adjustments aim to estimate the bid-offer by computing the liquidity-premium associated with the transaction. Where a financial instrument is of sufficient complexity that the cost of closing it out would be higher than the cost of closing out its component risks, then an additional adjustment is taken to reflect this. IFRS requires the Group to use the assumptions that market participants would use when pricing the asset or liability. Where relevant, these assumptions may include assumptions about climate change. The Group has not made material adjustment to fair value for climate change beyond that already priced into market inputs Valuation Control Results of the valuation control process are collected and analyzed as part of a standard monthly reporting cycle. Variances of differences outside of preset and approved tolerance levels are escalated both within the Finance function and with Senior Business Management for review, resolution and, if required, adjustment. For instruments where fair value is determined from valuation models, the assumptions and techniques used within the models are independently validated by an independent specialist model validation group that is part of the Group’s Risk Management function. Quotes for transactions and parameter inputs are obtained from a number of third party sources including exchanges, pricing service providers, firm broker quotes and consensus pricing services. Price sources are examined and assessed to determine the quality of fair value information they represent, with greater emphasis given to those possessing greater valuation certainty and relevance. The results are compared against actual transactions in the market to ensure the model valuations are calibrated to market prices. Price and parameter inputs to models, assumptions and valuation adjustments are verified against independent sources. Where they cannot be verified to independent sources due to lack of observable information, the estimate of fair value is subject to procedures to assess its reasonableness. Such procedures include performing revaluation using independently generated models (including where existing models are independently recalibrated), assessing the valuations against appropriate proxy instruments and other benchmarks, and performing extrapolation techniques. Assessment is made as to whether the valuation techniques produce fair value estimates that are reflective of market levels by calibrating the results of the valuation models against market transactions where possible. 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 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 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 These include: more-complex OTC derivatives; distressed debt; highly-structured bonds; illiquid asset-backed securities (ABS); illiquid CDO’s (cash and synthetic); 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 Dec 31, 2021 Dec 31, 2020 in € m. Quoted Valuation Valuation Quoted Valuation Valuation Financial assets held at fair value: Trading assets 51,020 42,561 8,815 44,525 55,220 8,183 Trading securities 50,814 38,108 3,614 44,349 50,340 3,066 Other trading assets 206 4,453 5,201 176 4,880 5,117 Positive market values from derivative financial instruments 4,354 286,337 9,042 4,208 330,561 8,725 Non-trading financial assets mandatory at fair value through profit or loss 2,764 81,304 4,896 2,992 68,511 4,618 Financial assets designated at fair value through profit or loss 0 91 49 0 436 0 Financial assets at fair value through other comprehensive income 13,375 13,302 2,302 28,057 25,741 2,037 Other financial assets at fair value 98 928 2 78 93 9,238 2 20 Total financial assets held at fair value 71,611 424,524 25,182 79,875 489,707 23,583 Financial liabilities held at fair value: Trading liabilities 48,364 6,272 83 36,699 7,615 2 Trading securities 48,363 5,838 33 36,674 7,206 2 Other trading liabilities 0 434 49 25 409 0 Negative market values from derivative financial instruments 5,208 272,121 9,781 4,430 315,145 8,200 Financial liabilities designated at fair value through profit or loss 0 56,728 1,740 0 45,622 960 Investment contract liabilities 0 562 0 0 526 0 Other financial liabilities at fair value 5 3,025 2 (179) 3 799 3,573 2 (294) 3 Total financial liabilities held at fair value 53,576 338,707 11,424 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”. 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. € 1 billion € 200 million During the fourth quarter of 2021, the Group implemented a refinement to its levelling methodology for certain loan portfolios to provide more reliable information. The change resulted in increase of Level 3 for “Other trading assets” and “Non-trading financial assets mandatory at fair value through profit or loss” by approximately € 2.0 billion Until December 31, 2021 there were transfers from Level 2 to Level 1 on trading securities ( € 5 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 Mortgage- and Other Asset-Backed Securities (MBS/ABS) Where no reliable external pricing is available, ABS are valued, where applicable, using either relative value analysis which is performed based on similar transactions observable in the market, or industry-standard valuation models making largest possible use of available observable inputs. The industry standard models calculate principal and interest payments for a given deal based on assumptions that can be independently price tested. The inputs include prepayment speeds, loss assumptions (timing and severity) and a discount rate (spread, yield or discount margin). These inputs/assumptions are derived from actual transactions, external market research and market indices where appropriate. Loans 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 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 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 Some of the financial assets and financial liabilities in Level 3 of the fair value hierarchy have identical or similar offsetting exposures to the unobservable input. However, according to IFRS they are required to be presented gross. Trading Securities Positive and Negative Market Values from Derivative Instruments 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 increase in assets during the year are driven by 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 settlements. The increase in liabilities during the year are driven by losses 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 settlement. Other Trading Instruments Non-trading financial assets mandatory at fair value through profit or loss Financial Assets/Liabilities designated at Fair Value through Profit or Loss 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 year is driven by issuances. The increase in liabilities during the year is driven by issuances, losses 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 settlements. Financial assets at fair value through other comprehensive income Reconciliation of financial instruments classified in Level 3 Dec 31, 2021 in € m. Balance, Changes Total 1 Purchases Sales Issu- 2 Settle- 3 Transfers 4 Transfers 4 Balance, Financial assets held at Trading securities 3,066 (2) (263) 3,183 (2,445) 0 (106) 766 (585) 3,614 Positive market values 8,725 0 890 0 0 0 (727) 2,938 (2,783) 9,042 Other trading assets 5,117 0 237 500 (2,194) 2,868 (1,635) 714 (406) 5,201 Non-trading financial assets mandatory at fair value through profit or loss 4,618 0 425 493 (288) 243 (733) 1,064 (926) 4,896 Financial assets designated at fair value through profit or loss 0 0 (0) 0 0 48 0 0 0 49 Financial assets at fair value through other comprehensive income 2,037 0 61 5 53 (150) 662 (560) 350 (150) 2,302 Other financial assets at 20 0 2 0 0 0 (17) 0 74 78 Total financial assets held 23,583 (2) 1,351 6,7 4,229 (5,076) 3,821 (3,777) 5,831 (4,777) 25,182 Financial liabilities held Trading securities 2 0 0 0 0 0 (0) 33 (2) 33 Negative market values 8,200 0 509 0 0 0 (367) 3,059 (1,620) 9,781 Other trading liabilities 0 0 (15) 0 0 0 0 64 0 49 Financial liabilities 960 0 911 0 0 96 (314) 198 (112) 1,740 Other financial liabilities (294) 0 (12) 0 0 0 33 13 81 (179) Total financial liabilities 8,867 0 1,393 6,7 0 0 96 (647) 3,367 (1,652) 11,424 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 year they are recorded at their fair value at the beginning of year. For instruments transferred into Level 3 the table shows the gains and losses and cash flows on the instruments as if they had been transferred at the beginning of the year. Similarly, for instruments transferred out of Level 3 the table does not show any gains or losses or cash flows on the instruments during the year since the table is presented as if they have been transferred out at the beginning of the year. 5 Total gains and losses on financial assets at fair value through other comprehensive income include a loss of € 13 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 € 447 million € 44 million 7 For assets positive balances represent gains, negative balances represent losses. For liabilities positive balances represent losses, negative balances represent gains. Dec 31, 2020 in € m. Balance, Changes Total 1 Purchases Sales Issu- 2 Settle- 3 Transfers 4 Transfers 4 Balance, Financial assets held at Trading securities 3,430 (79) (101) 2,134 (1,628) 11 (423) 333 (612) 3,066 Positive market values 8,167 (1) 1,422 0 0 0 (833) 1,541 (1,572) 8,725 Other trading assets 6,137 0 (423) 1,188 (2,712) 1,855 (1,207) 710 (433) 5,117 Non-trading financial assets mandatory at fair value through profit or loss 5,278 0 (256) 389 (394) 347 (811) 852 (786) 4,618 Financial assets designated at fair value through profit or loss 7 0 (1) 0 0 6 (12) 0 0 0 Financial assets at fair value through other comprehensive income 1,050 0 (66) 5 127 (50) 718 (182) 618 (177) 2,037 Other financial assets at 363 0 (9) 0 0 0 4 (147) (191) 20 Total financial assets held 24,431 (79) 567 6,7 3,839 (4,784) 2,937 (3,463) 3,906 (3,771) 23,583 Financial liabilities held at Trading securities 2 0 (2) 0 0 0 1 0 (0) 2 Negative market values 6,652 0 2,108 0 0 0 (365) 1,420 (1,615) 8,200 Other trading liabilities 38 0 (1) 0 0 0 (9) 0 (28) 0 Financial liabilities 1,954 0 55 0 0 186 (763) 215 (687) 960 Other financial liabilities (34) 0 26 0 0 0 (16) (187) (83) (294) Total financial liabilities 8,612 0 2,185 6,7 0 0 186 (1,151) 1,448 (2,413) 8,867 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 year they are recorded at their fair value at the beginning of year. For instruments transferred into Level 3 the table shows the gains and losses and cash flows on the instruments as if they had been transferred at the beginning of the year. Similarly, for instruments transferred out of Level 3 the table does not show any gains or losses or cash flows on the instruments during the year since the table is presented as if they have been transferred out at the beginning of the year. 5 Total gains and losses on financial assets at fair value through other comprehensive income include a gain of € 11 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 € 495 million € 66 million 7 For assets positive balances represent gains, negative balances represent losses. For liabilities positive balances represent losses, negative balances represent gains. 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 then as of December 31, 2021 it could have increased fair value by as much as € 1.7 billion € 1.2 billion € 1.8 billion € 1.4 billion The changes in sensitive amounts from December 31, 2020 to December 31, 2021 were a reduction in positive fair value movement of € 90 million € 152 million € 1.6 billion € 2.6 billion 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 as a deduction from CET 1 for the amount of any additional valuation 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. The downside sensitivity may be limited in some cases where the fair value is already demonstrably prudent. 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. Hence, the estimates disclosed above are likely to be greater than the true uncertainty in fair value at the balance sheet date. Furthermore, the disclosure is neither predictive nor indicative of future movements in fair value. 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 Dec 31, 2021 Dec 31, 2020 in € m. Positive fair value Negative fair value Positive fair value Negative fair value Securities: Debt securities 267 256 287 201 2 Commercial mortgage-backed securities 18 15 9 22 Mortgage and other asset-backed securities 13 9 20 12 Corporate, sovereign and other debt securities 236 233 259 167 2 Equity securities 94 65 83 57 2 Derivatives: Credit 163 109 283 185 Equity 105 100 257 238 Interest related 409 232 306 266 Foreign Exchange 34 31 37 32 Other 98 82 93 82 Loans: Loans 570 340 483 306 Other 0 0 0 0 Total 1,739 1,215 1,829 1,367 1 2 Reassessment of trades have resulted a reclassification in Positive and 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 Inputs 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 then 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 principal 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 holder or lender 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. |
Fair Value of Financial Instrum
Fair Value of Financial Instruments not carried at Fair Value | 12 Months Ended |
Dec. 31, 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] | 14 – Financial instruments not carried at fair value are not managed on a fair value basis. For these instruments fair values are calculated for disclosure purposes only and do not impact the Group balance sheet or income statement. Additionally, since the instruments generally do not trade there is significant management judgment required to determine these fair values. For the following financial instruments which are predominantly short-term the carrying value represents a reasonable estimate of the fair value: Assets Liabilities Cash and central bank balances Deposits Interbank balances (w/o central banks) Central bank funds purchased and securities sold under repurchase agreements Central bank funds sold and securities purchased under resale agreements Securities loaned Securities borrowed Other short-term borrowings Other financial assets Other financial liabilities For retail lending portfolios with a large number of homogenous loans (e.g. residential mortgages), the fair value is calculated for each product type by discounting the portfolio’s contractual cash flows using the Group’s new loan rates for lending to issuers of similar credit quality. Key inputs for retail mortgages are the difference between historic and current product margins and the estimated prepayment rates. Capitalized broker fees included in the carrying value are considered to also be at fair value. The fair value of the corporate lending portfolio is estimated by discounting the loan till its maturity based on loan specific credit spreads and funding costs for the Group. For long-term debt and trust preferred securities, fair value is determined from quoted market prices, where available. Where quoted market prices are not available, fair value is estimated using a valuation technique that discounts the remaining contractual cash flows at a rate at which an instrument with similar characteristics is quoted in the market. Estimated fair value of financial instruments not carried at fair value on the balance sheet 1 Dec 31, 2021 in € m. Carrying value Fair value Quoted Valuation Valuation Financial assets: Cash and central bank balances 192,021 192,021 192,021 0 0 Interbank balances (w/o central banks) 7,342 7,342 0 7,342 0 Central bank funds sold and securities 8,368 8,429 0 7,651 778 Securities borrowed 63 63 0 63 0 Loans 472,069 476,674 0 13,682 462,991 Other financial assets 94,588 94,732 9,048 85,335 349 Financial liabilities: Deposits 604,396 604,645 307 604,338 0 Central bank funds purchased and securities 747 745 0 745 0 Securities loaned 24 24 0 24 0 Other short-term borrowings 4,034 4,035 0 4,010 25 Other financial liabilities 81,047 81,047 2,023 79,023 0 Long-term debt 144,485 146,871 0 141,189 5,683 Trust preferred securities 528 587 0 587 0 Dec 31, 2020 in € m. Carrying value Fair value Quoted Valuation Valuation Financial assets: Cash and central bank balances 166,208 166,208 166,208 0 0 Interbank balances (w/o central banks) 9,130 9,132 866 8,266 0 Central bank funds sold and securities 8,533 8,519 0 7,694 825 Securities borrowed 0 0 0 0 0 Loans 426,691 434,442 0 13,253 421,189 Other financial assets 94,069 94,393 7,714 86,049 629 Financial liabilities: Deposits 567,745 568,172 66 568,105 0 Central bank funds purchased and securities 2,325 2,328 0 2,328 0 Securities loaned 1,697 1,697 0 1,697 0 Other short-term borrowings 3,553 3,556 0 3,540 15 Other financial liabilities 96,602 96,602 1,902 94,700 0 Long-term debt 149,163 150,691 0 144,130 6,560 Trust preferred securities 1,321 1,069 0 1,069 0 1 Amounts generally presented on a gross basis, in line with the Group’s accounting policy regarding offsetting of financial instruments as described in Note 1 “Significant Accounting Policies and Critical Accounting Estimates”. For loans, the difference between fair value and carrying value is due to the effect of product margin movements since initial recognition. For long-term debt and trust preferred securities, the difference between fair value and carrying value is due to the effect of changes in the rates at which the Group could issue debt with similar maturity and subordination at the balance sheet date compared to when the instrument was issued. |
Financial assets at fair value
Financial assets at fair value through other comprehensive income | 12 Months Ended |
Dec. 31, 2021 | |
Financial assets at fair value through other comprehensive income [Abstract] | |
Disclosure of Financial assets at fair value through other comprehensive income [text block] | 15 – in € m. Dec 31, 2021 Dec 31, 2020 Securities purchased under resale agreement 1,231 1,543 Debt securities: German government 876 10,245 U.S. Treasury and U.S. government agencies 8,770 9,221 U.S. local (municipal) governments 253 251 Other foreign governments 10,965 26,308 Corporates 604 2,272 Other asset-backed securities 0 31 Mortgage-backed securities, including obligations of U.S. federal agencies 714 636 Other debt securities 1,194 692 Total debt securities 23,377 49,656 Loans 4,370 4,635 Total financial assets at fair value through other comprehensive income 28,979 55,834 |
Equity Method Investments
Equity Method Investments | 12 Months Ended |
Dec. 31, 2021 | |
Equity Method Investments [Abstract] | |
Disclosure of investments accounted for using equity method [text block] | 16 – Investments in associates and jointly controlled entities are accounted for using the equity method of accounting. The Group holds interests in 59 60 10 11 Significant investments as of December 31, 2021 1 Investment Principal place of business Nature of relationship Ownership percentage Huarong Rongde Asset Management Company Limited Beijing, China Strategic Investment 40.7 % Harvest Fund Management Co., Ltd. Shanghai, China Strategic Investment 30.0 % 1 The Group has significant influence over these investees through its holding percentage and representation on the board seats. Summarized financial information on Huarong Rongde Asset Management Company Limited 1 in € m. Dec 31, 2020 Dec 31, 2019 Total net revenues 76 97 Net income 54 62 Other comprehensive income 0 54 Total comprehensive income 2 54 116 in € m. Dec 31, 2020 Dec 31, 2019 Current assets 2,979 2,323 Non-Current assets 247 804 Total assets 3,226 3,127 Current liabilities 1,273 1,157 Non-Current liabilities 1,180 1,274 Total liabilities 2,453 2,431 Noncontrolling Interest 0 (3) Net assets of the equity method investee 773 699 1 Due to the difference in reporting timelines for the Group and Huarong Rongde Asset Management Company Limited Equity method accounting was performed for December 2021 based on December 2020 PRC GAAP audited financials and for December 2020 based on December 2019 PRC GAAP audited financials. 2 The Group received dividends from Huarong Rongde Asset Management Company Limited of € 0 million € 9 million Reconciliation of total net assets of Huarong Rongde Asset Management Company Limited to the Group’s carrying amount 1 in € m. Dec 31, 2020 Dec 31, 2019 Net assets of the equity method investee 773 699 Group's ownership percentage on the investee's equity 40.7 % 40.7 % Group's share of net assets 315 284 Goodwill 0 0 Intangible Assets 0 0 Other adjustments (97) (9) Carrying amount 2 218 275 1 Due to the difference in reporting timelines for the Group and Huarong Rongde Asset Management Company Limited Equity method accounting was performed for December 2021 based on December 2020 PRC GAAP audited financials and for December 2020 based on December 2019 PRC GAAP audited financials. 2 There is impairment loss of € 97 million € 0 million Summarized financial information on Harvest Fund Management Co., Ltd. in € m. Dec 31, 2021¹ Dec 31, 2020² Total net revenues 1,147 842 Net income 295 224 Other comprehensive income (1) (5) Total comprehensive income 3 294 219 in € m. Dec 31, 2021 Dec 31, 2020 Current assets 1,291 1,015 Non-Current assets 966 804 Total assets 2,257 1,819 Current liabilities 1,006 760 Non-Current liabilities 192 169 Total liabilities 1,197 929 Noncontrolling Interest 35 23 Net assets of the equity method investee 1,024 867 1 December 2021 numbers are based on 2021 unaudited financials 2 December 2020 numbers are based on 2020 audited financials. 3 The Group received dividends from Harvest Fund Management Co., Ltd. of € 68 million € 21 million € 6 million Reconciliation of total net assets of Harvest Fund Management Co., Ltd.to the Group’s carrying amount in € m. Dec 31, 2021¹ Dec 31, 2020² Net assets of the equity method investee 1,024 867 Group's ownership percentage on the investee's equity 30 % 30 % Group's share of net assets 307 260 Goodwill 17 16 Intangible Assets 15 14 Other adjustments 1 0 Carrying amount 3 341 290 1 December 2021 numbers are based on 2021 unaudited financials. 2 December 2020 numbers are based on 2020 audited financials. 3 There is no impairment loss in 2021 ( € 0 million Aggregated financial information on the Group’s share in associates and joint ventures that are individually immaterial in € m. Dec 31, 2021 Dec 31, 2020 Carrying amount of all associates that are individually immaterial to the Group 532 337 Aggregated amount of the Group's share of profit (loss) from continuing operations 87 20 Aggregated amount of the Group's share of post-tax profit (loss) from discontinued operations 0 0 Aggregated amount of the Group's share of other comprehensive income (6) (10) Aggregated amount of the Group's share of total comprehensive income 81 10 |
Offsetting Financial Assets and
Offsetting Financial Assets and Financial Liabilities | 12 Months Ended |
Dec. 31, 2021 | |
Offsetting Financial Assets and Financial Liabilities [Abstract] | |
Disclosure of offsetting of financial assets and financial liabilities [text block] | 17 – The Group is eligible to present certain financial assets and financial liabilities on a net basis on the balance sheet pursuant to criteria described in Note 1 “Significant Accounting Policies and Critical Accounting Estimates: Offsetting Financial Instruments”. The following tables provide information on the impact of offsetting on the consolidated balance sheet, as well as the financial impact of netting for instruments subject to an enforceable master netting arrangement or similar agreement as well as available cash and financial instrument collateral. Assets Dec 31, 2021 Amounts not set off on the balance sheet in € m. Gross Gross Net Impact of Cash Financial Net amount Central bank funds sold and securities purchased 14,449 (8,532) 5,917 0 0 (5,667) 251 Central bank funds sold and securities purchased 2,451 0 2,451 0 0 (2,403) 48 Securities borrowed (enforceable) 63 0 63 0 0 (63) 0 Securities borrowed (non-enforceable) 0 0 0 0 0 0 0 Financial assets at fair value through profit or loss (enforceable) 471,208 (117,093) 354,116 (240,588) (33,953) (71,766) 7,809 Of which: Positive market values from derivative financial instruments (enforceable) 296,606 (12,044) 284,562 (238,412) (33,950) (4,516) 7,685 Financial assets at fair value through profit or loss (non-enforceable) 137,118 0 137,118 0 (2,026) (12,124) 122,968 Of which: Positive market values from derivative financial instruments (non-enforceable) 15,170 0 15,170 0 (1,963) (1,263) 11,944 Total financial assets at fair value through profit 608,326 (117,093) 491,233 (240,588) (35,978) (83,890) 130,777 Loans at amortized cost 472,069 0 472,069 0 (12,271) (60,794) 399,004 Other assets 109,097 (5,313) 103,784 (30,639) (101) (63) 72,981 Of which: Positive market values from derivatives qualifying for hedge accounting (enforceable) 1,126 (21) 1,105 (881) (101) (63) 60 Remaining assets subject to netting 1,231 0 1,231 0 0 0 1,231 Remaining assets not subject to netting 247,956 0 247,956 0 (141) (2,320) 245,495 Total assets 1,455,642 (130,937) 1,324,705 (271,227) (48,492) (155,200) 849,786 1 Excludes real estate and other non-financial instrument collateral. Liabilities Dec 31, 2021 Amounts not set off on the balance sheet in € m. Gross Gross Net Impact of Cash Financial Net amount Deposits 604,396 0 604,396 0 0 0 604,396 Central bank funds purchased and securities sold 9,275 (8,532) 743 0 0 (743) 0 Central bank funds purchased and securities sold 4 0 4 0 0 0 4 Securities loaned (enforceable) 22 0 22 0 0 (22) 0 Securities loaned (non-enforceable) 2 0 2 0 0 (2) 0 Financial liabilities at fair value through profit or loss (enforceable) 497,741 (117,796) 379,945 (240,381) (27,607) (50,690) 61,267 Of which: Negative market values from derivative financial instruments (enforceable) 289,380 (13,246) 276,134 (237,915) (27,607) (4,063) 6,549 Financial liabilities at fair value through profit or loss (non-enforceable) 20,913 0 20,913 0 (1,261) (4,658) 14,994 Of which: Negative market values from derivative financial instruments (non-enforceable) 10,975 0 10,975 0 (1,261) (157) 9,556 Total financial liabilities at fair value through profit 518,653 (117,796) 400,857 (240,381) (28,868) (55,347) 76,261 Other liabilities 102,405 (4,609) 97,795 (38,677) (49) (2) 59,067 Of which: Negative market values from derivatives qualifying for hedge accounting (enforceable) 1,479 (13) 1,466 (1,378) (49) (2) 37 Remaining liabilities not subject to netting 152,786 0 152,786 0 0 0 152,786 Total liabilities 1,387,544 (130,937) 1,256,606 (279,058) (28,918) (56,117) 892,514 Assets Dec 31, 2020 Amounts not set off on the balance sheet in € m. Gross Gross Net Impact of Cash Financial Net amount Central bank funds sold and securities purchased 8,234 (2,863) 5,371 0 0 (5,319) 53 Central bank funds sold and securities purchased 3,161 0 3,161 0 0 (2,855) 307 Securities borrowed (enforceable) 0 0 0 0 0 0 0 Securities borrowed (non-enforceable) 0 0 0 0 0 0 0 Financial assets at fair value through profit or loss (enforceable) 463,397 (84,554) 378,843 (263,518) (45,066) (58,410) 11,849 Of which: Positive market values from derivative financial instruments (enforceable) 336,976 (12,557) 324,419 (262,525) (45,048) (5,162) 11,684 Financial assets at fair value through profit or loss (non-enforceable) 149,137 0 149,137 0 (1,098) (12,790) 135,249 Of which: Positive market values from derivative financial instruments (non-enforceable) 19,074 0 19,074 0 (1,003) (1,116) 16,955 Total financial assets at fair value through profit 612,534 (84,554) 527,980 (263,518) (46,164) (71,200) 147,099 Loans at amortized cost 426,691 0 426,691 0 (12,129) (52,571) 361,991 Other assets 120,531 (10,170) 110,360 (43,277) (412) (90) 66,581 Of which: Positive market values from derivatives qualifying for hedge accounting (enforceable) 3,286 (21) 3,265 (2,607) (411) (90) 156 Remaining assets subject to netting 1,543 0 1,543 0 0 0 1,543 Remaining assets not subject to netting 249,854 0 249,854 0 (384) (2,768) 246,703 Total assets 1,422,549 (97,587) 1,324,961 (306,795) (59,089) (134,803) 824,275 1 Excludes real estate and other non-financial instrument collateral. Liabilities Dec 31, 2020 Amounts not set off on the balance sheet in € m. Gross Gross Net Impact of Cash Financial Net amount Deposits 567,745 0 567,745 0 0 0 567,745 Central bank funds purchased and securities sold 4,586 (2,263) 2,323 0 0 (2,323) 0 Central bank funds purchased and securities sold 3 0 3 0 0 (2) 1 Securities loaned (enforceable) 1,686 0 1,686 0 0 (1,686) 0 Securities loaned (non-enforceable) 11 0 11 0 0 (2) 9 Financial liabilities at fair value through profit or loss (enforceable) 480,029 (86,803) 393,226 (265,150) (34,846) (41,642) 51,589 Of which: Negative market values from derivative financial instruments (enforceable) 326,692 (14,715) 311,976 (264,042) (34,846) (5,816) 7,273 Financial liabilities at fair value through profit or loss (non-enforceable) 25,972 0 25,972 0 (1,875) (6,184) 17,914 Of which: Negative market values from derivative financial instruments (non-enforceable) 15,798 0 15,798 0 (1,875) (166) 13,757 Total financial liabilities at fair value through profit 506,002 (86,803) 419,199 (265,150) (36,721) (47,826) 69,502 Other liabilities 122,730 (8,521) 114,208 (49,534) (121) (6) 64,547 Of which: Negative market values from derivatives qualifying for hedge accounting (enforceable) 1,315 (36) 1,279 (1,090) (121) (6) 62 Remaining liabilities not subject to netting 157,602 0 157,602 0 (2) (1) 157,599 Total liabilities 1,360,364 (97,587) 1,262,777 (314,684) (36,844) (51,845) 859,403 For 2020, other assets included € 1.4 billion € 1.9 billion The column ‘Gross amounts set off on the balance sheet’ discloses the amounts offset in accordance with all the criteria described in Note 1 “Significant Accounting Policies and Critical Accounting Estimates: Offsetting Financial Instruments”. The column ‘Impact of Master Netting Agreements’ discloses the amounts that are subject to master netting agreements but were not offset because they did not meet the net settlement/simultaneous settlement criteria; or because the rights of set off are conditional upon the default of the counterparty only. The amounts presented for other assets and other liabilities include cash margin receivables and payables respectively. The columns ‘Cash collateral’ and ‘Financial instrument collateral’ disclose the cash and financial instrument collateral amounts received or pledged in relation to the total amounts of assets and liabilities, including those that were not offset. Non-enforceable master netting agreements or similar agreements refer to contracts executed in jurisdictions where the rights of set off may not be upheld under the local bankruptcy laws. The cash collateral received against the positive market values of derivatives and the cash collateral pledged towards the negative mark-to-market values of derivatives are booked within the ‘Other liabilities’ and ‘Other assets’ balances respectively. The Cash and Financial instrument collateral amounts disclosed reflect their fair values. The rights of set off relating to the cash and financial instrument collateral are conditional upon the default of the counterparty. |
Loans
Loans | 12 Months Ended |
Dec. 31, 2021 | |
Loans [Abstract] | |
Disclosure of loans [text block] | 18 – The entire loan book presented includes loans classified at amortized cost, loans at fair value through other comprehensive income and loans at fair value through profit and loss. The below table gives an overview of our loan exposure by industry, and is based on the NACE code of the counterparty. NACE (Nomenclature des Activités Économiques dans la Communauté Européenne) is a standard European industry classification system. Loans by industry classification in € m. Dec 31, 2021 Dec 31, 2020 Agriculture, forestry and fishing 647 637 Mining and quarrying 3,006 3,145 Manufacturing 36,820 28,040 Electricity, gas, steam and air conditioning supply 4,819 3,765 Water supply, sewerage, waste management and remediation activities 681 681 Construction 4,651 4,708 Wholesale and retail trade, repair of motor vehicles and motorcycles 22,444 22,023 Transport and storage 6,067 6,382 Accommodation and food service activities 2,272 2,514 Information and communication 7,387 6,240 Financial and insurance activities 111,239 90,220 Real estate activities 43,220 37,946 Professional, scientific and technical activities 7,022 7,946 Administrative and support service activities 10,324 9,568 Public administration and defense, compulsory social security 7,076 7,413 Education 225 205 Human health services and social work activities 4,005 3,530 Arts, entertainment and recreation 1,068 951 Other service activities 5,261 6,165 Activities of households as employers, undifferentiated goods- and services-producing activities of households for own use 213,186 205,028 Activities of extraterritorial organizations and bodies 1 1 Gross loans 491,421 447,107 (Deferred expense)/unearned income 227 394 Loans less (deferred expense)/unearned income 491,194 446,712 Less: Allowance for loan losses 4,779 4,823 Total loans 486,416 441,889 |
Allowance for Credit Losses
Allowance for Credit Losses | 12 Months Ended |
Dec. 31, 2021 | |
Allowance for Credit Losses [Abstract] | |
Disclosure of allowance for credit losses [text block] | 19 – The allowance for credit losses consists of allowance for financial assets at amortized cost, financial assets at fair value through OCI and off-balance sheet lending commitments and guarantee business. Development of allowance for credit losses for financial assets at amortized cost Dec 31, 2021 Allowance for Credit Losses³ in € Stage 1 Stage 2 Stage 3 Stage 3 POCI⁴ Total Balance, beginning of year 544 648 3,614 139 4,946 Movements in financial assets including new business and credit extensions (245) 85 615 26 480 Transfers due to changes in creditworthiness 138 (197) 58 N/M 0 Changes due to modifications that did not result in N/M N/M N/M N/M N/M Changes in models 0 0 0 0 0 Financial assets that have been derecognized during the period² 0 0 (561) (5) (566) Recovery of written off amounts 0 0 55 23 78 Foreign exchange and other changes 3 (4) (41) (0) (43) Balance, end of reporting period 440 532 3,740 182 4,895 Provision for Credit Losses excluding country risk¹ (107) (112) 673 26 480 1 Movements in financial assets including new business, transfers due to changes in creditworthiness and changes in models add up to Provision for Credit Losses excluding country risk. 2 This position includes charge offs of allowance for credit losses. 3 Allowance for credit losses does not include allowance for country risk amounting to € 4 million 4 The total amount of undiscounted expected credit losses at initial recognition on financial assets that are purchased or originated credit-impaired initially recognized during the reporting period was € 0 million € 50 million Development of allowance for credit losses for financial assets at amortized cost Dec 31, 2020 Allowance for Credit Losses³ in € Stage 1 Stage 2 Stage 3 Stage 3 POCI⁴ Total Balance, beginning of year 549 492 3,015 36 4,093 Movements in financial assets including new business and credit extensions (44) 309 1,348 72 1,686 Transfers due to changes in creditworthiness 77 (125) 49 N/M 0 Changes due to modifications that did not result in N/M N/M N/M N/M N/M Changes in models 0 0 0 0 0 Financial assets that have been derecognized during the period² 0 0 (781) 0 (781) Recovery of written off amounts 0 0 58 0 58 Foreign exchange and other changes (38) (28) (75) 31 (110) Balance, end of reporting period 544 648 3,614 139 4,946 Provision for Credit Losses excluding country risk¹ 33 184 1,397 72 1,686 1 Movements in financial assets including new business, transfers due to changes in creditworthiness and changes in models add up to Provision for Credit Losses excluding country risk. 2 This position includes charge offs of allowance for credit losses. 3 Allowance for credit losses does not include allowance for country risk amounting to € 5 million 4 The total amount of undiscounted expected credit losses at initial recognition on financial assets that are purchased or originated credit-impaired initially recognized during the reporting period was € 50 million € 0 million Development of allowance for credit losses for financial assets at amortized cost Dec 31, 2019 Allowance for Credit Losses³ in € Stage 1 Stage 2 Stage 3 Stage 3 POCI⁴ Total Balance, beginning of year 509 501 3,247 3 4,259 Movements in financial assets including new business and credit extensions (57) 102 550 40 636 Transfers due to changes in creditworthiness 120 (106) (14) 0 Changes due to modifications that did not result in N/M N/M N/M N/M N/M Changes in models 0 0 0 0 0 Financial assets that have been derecognized during the period² 0 0 (872) (26) (898) Recovery of written off amounts 0 0 96 0 96 Foreign exchange and other changes (22) (4) 8 18 0 Balance, end of reporting period 549 492 3,015 36 4,093 Provision for Credit Losses excluding country risk¹ 62 (4) 536 40 636 1 Movements in financial assets including new business, transfers due to changes in creditworthiness and changes in models add up to Provision for Credit Losses excluding country risk. 2 This position includes charge offs of allowance for credit losses. 3 Allowance for credit losses does not include allowance for country risk amounting to € 3 million 4 The total amount of undiscounted expected credit losses at initial recognition on financial assets that are purchased or originated credit-impaired initially recognized during the reporting period was € 0 million Allowance for credit losses for financial assets at fair value through OCI 1 Dec 31, 2021 Allowance for Credit Losses in € m. Stage 1 Stage 2 Stage 3 Stage 3 POCI Total Fair Value through OCI 15 10 16 0 41 1 € 20 million € 41 million Dec 31, 2020 Allowance for Credit Losses in € m. Stage 1 Stage 2 Stage 3 Stage 3 POCI Total Fair Value through OCI 12 6 2 0 20 1 € 35 million € 20 million Dec 31, 2019 Allowance for Credit Losses in € m. Stage 1 Stage 2 Stage 3 Stage 3 POCI Total Fair Value through OCI 16 9 10 0 35 1 € 13 million 2019 € 35 million Development of allowance for credit losses for off-balance sheet positions Dec 31, 2021 Allowance for Credit Losses 2 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 (43) 38 18 0 13 Transfers due to changes in creditworthiness 3 (5) 2 0 0 Changes in models 0 0 0 0 0 Foreign exchange and other changes 3 3 6 0 12 Balance, end of reporting period 108 111 225 0 443 of which: Financial guarantees 69 64 164 0 297 Provision for Credit Losses excluding country risk 1 (40) 33 19 0 13 1 The above table breaks down the impact on provision for credit losses from movements in financial assets including new business, transfers due to changes in creditworthiness and changes in models. 2 Allowance for credit losses does not include allowance for country risk amounting to € 6 million Development of allowance for credit losses for off-balance sheet positions Dec 31, 2020 Allowance for Credit Losses 2 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 13 21 41 0 75 Transfers due to changes in creditworthiness 0 0 (1) 0 0 Changes in models 0 0 0 0 0 Foreign exchange and other changes 3 4 (6) 0 1 Balance, end of reporting period 144 74 200 0 419 of which: Financial guarantees 99 43 115 0 257 Provision for Credit Losses excluding country risk 1 13 22 40 0 75 1 The above table breaks down the impact on provision for credit losses from movements in financial assets including new business, transfers due to changes in creditworthiness and changes in models. 2 Allowance for credit losses does not include allowance for country risk amounting to € 4 million Development of allowance for credit losses for off-balance sheet positions Dec 31, 2019 Allowance for Credit Losses 2 in € m. Stage 1 Stage 2 Stage 3 Stage 3 POCI Total Balance, beginning of year 132 73 84 0 289 Movements including new business (13) (5) 88 0 70 Transfers due to changes in creditworthiness 9 (12) 3 0 0 Changes in models 0 0 0 0 0 Foreign exchange and other changes (1) (7) (9) 0 (17) Balance, end of reporting period 128 48 166 0 342 of which: Financial guarantees 89 30 143 0 262 Provision for Credit Losses excluding country risk 1 (4) (17) 90 0 70 1 The above table breaks down the impact on provision for credit losses from movements in financial assets including new business, transfers due to changes in creditworthiness and changes in models. 2 Allowance for credit losses does not include allowance for country risk amounting to € 4 million |
Transfers of Financial Assets
Transfers of Financial Assets | 12 Months Ended |
Dec. 31, 2021 | |
Transfers of Financial Assets [Abstract] | |
Disclosure of transfers of financial assets [text block] | 20 – The Group enters into transactions in which it transfers financial assets held on the balance sheet and as a result may either be eligible to derecognize the transferred asset in its entirety or must continue to recognize the transferred asset to the extent of any continuing involvement, depending on certain criteria. These criteria are discussed in Note 1 “Significant Accounting Policies and Critical Accounting Estimates”. Where financial assets are not eligible to be derecognized, the transfers are viewed as secured financing transactions, with any consideration received resulting in a corresponding liability. The Group is not entitled to use these financial assets for any other purposes. The most common transactions of this nature entered into by the Group are repurchase agreements, securities lending agreements and total return swaps, in which the Group retains substantially all of the associated credit, equity price, interest rate and foreign exchange risks and rewards associated with the assets as well as the associated income streams. Information on asset types and associated transactions that did not qualify for derecognition in € m. Dec 31, 2021 Dec 31, 2020 Carrying amount of transferred assets Trading securities not derecognized due to the following transactions: Repurchase agreements 44,898 40,654 Securities lending agreements 5,444 8,951 Total return swaps 1,766 1,319 Other 4,028 5,028 Total trading securities 56,136 55,953 Other trading assets 244 215 2 Non-trading financial assets mandatory at fair value through profit or loss 760 666 Financial assets at fair value through other comprehensive income 5,642 5,951 Loans at amortized cost 1 13 210 Others 481 72 Total 63,276 63,066 2 Carrying amount of associated liabilities 57,522 53,348 ¹ Loans where the associated liability is recourse only to the transferred assets had NIL carrying value and fair value as at December 31, 2021 and December 31, 2020. The associated liabilities had the same carrying value and fair value which resulted in a net position of 0 2 Prior year numbers have been restated following the reassessment of one trade. Carrying value of assets transferred in which the Group still accounts for the asset to the extent of its continuing involvement in € m. Dec 31, 2021 Dec 31, 2020 Carrying amount of the original assets transferred Trading securities 1,050 1,039 Financial assets designated at fair value through profit or loss 0 0 Non-trading financial assets mandatory at fair value through profit or loss 308 673 Carrying amount of the assets continued to be recognized Trading securities 61 64 1 Financial assets designated at fair value through profit or loss 0 0 Non-trading financial assets mandatory at fair value through profit or loss 15 17 Carrying amount of associated liabilities 102 122 1 ¹ Prior year numbers have been restated following the reassessment of one trade The Group could retain some exposure to the future performance of a transferred asset either through new or existing contractual rights and obligations and still be eligible to derecognize the asset. This ongoing involvement will be recognized as a new instrument which may be different from the original financial asset that was transferred. Typical transactions include retaining senior notes of non-consolidated securitizations to which originated loans have been transferred; financing arrangements with structured entities to which the Group has sold a portfolio of assets; or sales of assets with credit-contingent swaps. The Group’s exposure to such transactions is not considered to be significant as any substantial retention of risks associated with the transferred asset will commonly result in an initial failure to derecognize. Transactions not considered to result in an ongoing involvement include normal warranties on fraudulent activities that could invalidate a transfer in the event of legal action, qualifying pass-through arrangements and standard trustee or administrative fees that are not linked to performance. The impact on the Group’s Balance Sheet of on-going involvement associated with transferred assets derecognized in full Dec 31,2021 Dec 31,2020 in € m. Carrying Fair value Maximum Carrying Fair value Maximum Loans at amortized cost Securitization notes 283 302 302 254 271 271 Other 0 0 0 7 7 7 Total loans at amortized cost 283 302 302 261 279 279 Financial assets held at fair value through profit or loss Securitization notes 29 29 29 28 28 28 Non-standard Interest Rate, cross-currency or inflation-linked swap 465 465 465 0 0 0 Total financial assets held at fair value through profit or loss 494 494 494 28 28 28 Financial assets at fair value through other comprehensive income: Securitization notes 709 713 713 624 645 645 Other 0 0 0 0 0 0 Total financial assets at fair value through other comprehensive income 709 713 713 624 645 645 Total financial assets representing on-going involvement 1,486 1,509 1,509 913 951 951 Financial liabilities held at fair value through profit or loss Non-standard Interest Rate, cross-currency or inflation-linked swap 8 8 0 11 11 0 Total financial liabilities representing on-going involvement 8 8 0 11 11 0 1 The maximum exposure to loss is defined as the carrying value plus the notional value of any undrawn loan commitments not recognized as liabilities. The impact on the Group’s Statement of Income of on-going involvement associated with transferred assets derecognized in full Dec 31,2021 Dec 31,2020 in € m. Year-to- Cumulative Gain/(loss) Year-to- Cumulative Gain/(loss) Securitization notes 31 81 48 22 49 99 Non-standard Interest Rate, cross-currency or 41 41 0 (1) (1) 0 Net gains/(losses) recognized from on-going 72 123 48 21 48 99 The Group pledges assets primarily as collateral against secured funding and for repurchase agreements, securities borrowing agreements as well as other borrowing arrangements and for margining purposes on OTC derivative liabilities. Pledges are generally conducted under terms that are usual and customary for standard securitized borrowing contracts and other transactions described. Carrying value of the Group’s assets pledged as collateral for liabilities or contingent liabilities 1 in € m. Dec 31, 2021 Dec 31, 2020 Financial assets at fair value through profit or loss 51,165 47,553 Financial assets at fair value through other comprehensive income 6,395 7,858 Loans 79,485 77,433 Other 611 1,257 Total 137,656 134,101 1 Excludes assets pledged as collateral from transactions that do not result in liabilities or contingent liabilities. Total assets pledged to creditors available for sale or repledge 1 in € m. Dec 31, 2021 Dec 31, 2020 Financial assets at fair value through profit or loss 48,426 44,210 Financial assets at fair value through other comprehensive income 5,252 4,911 Loans 2,073 2,232 Other 481 72 Total 56,233 51,426 1 Includes assets pledged as collateral from transactions that do not result in liabilities or contingent liabilities. The Group receives collateral primarily in reverse repurchase agreements, securities lending agreements, derivatives transactions, customer margin loans and other transactions. These transactions are generally conducted under terms that are usual and customary for standard secured lending activities and the other transactions described. The Group, as the secured party, has the right to sell or re-pledge such collateral, subject to the Group returning equivalent securities upon completion of the transaction. This right is used primarily to cover short sales, securities loaned and securities sold under repurchase agreements. Fair Value of collateral received in € m. Dec 31, 2021 Dec 31, 2020 Securities and other financial assets accepted as collateral 260,003 237,157 Of which: Collateral sold or repledged 222,232 199,346 |
Property and Equipment
Property and Equipment | 12 Months Ended |
Dec. 31, 2021 | |
Property and Equipment [Abstract] | |
Disclosure of Property and Equipment [text block] | 21 – in € m. Owner occupied properties Furniture and equipment Leasehold improvements Construction-in-progress Property and equipment owned (IAS 16) Right-of-use for leased assets (IFRS 16) Total Cost of acquisition: Balance as of January 1, 2020 656 2,380 2,961 155 6,153 3,533 9,686 Changes in the group of consolidated companies 0 (1) 0 0 (1) (1) (3) Additions 2 128 47 335 512 1,806 2,317 Transfers 8 173 43 (97) 127 (388) (261) Reclassifications (to)/from “held for sale” (73) (65) 0 (1) (139) (0) (139) Disposals 2 223 96 0 321 41 362 Exchange rate changes (4) (50) (58) (5) (117) (64) (181) Balance as of December 31, 2020 587 2,343 2,897 387 6,214 4,844 11,058 Changes in the group of consolidated companies (1) 0 0 0 (1) 0 (1) Additions 0 113 46 391 550 254 804 Transfers 58 (8) 354 (321) 83 367 451 Reclassifications (to)/from “held for sale” (131) (16) (94) (1) (241) 0 (241) Disposals 0 187 146 79 412 165 578 Exchange rate changes 1 38 45 21 105 139 244 Balance as of December 31, 2021 514 2,283 3,102 398 6,297 5,439 11,737 Accumulated depreciation and impairment: Balance as of January 1, 2020 325 1,841 1,927 0 4,093 663 4,756 Changes in the group of consolidated companies 0 (1) 0 0 (1) 0 (1) Depreciation 16 171 187 0 373 648 1,021 Impairment losses 5 2 8 0 16 77 93 Reversals of impairment losses 3 0 0 0 3 10 12 Transfers 2 145 2 0 149 5 153 Reclassifications (to)/from “held for sale” (25) (53) 0 0 (78) 0 (78) Disposals 1 206 89 0 296 11 307 Exchange rate changes (3) (42) (45) 0 (90) (24) (114) Balance as of December 31, 2020 317 1,856 1,989 0 4,163 1,347 5,510 Changes in the group of consolidated companies (1) 0 0 0 (1) 0 (1) Depreciation 16 140 204 0 360 631 991 Impairment losses 12 7 39 1 59 99 158 Reversals of impairment losses 0 0 0 0 0 18 18 Transfers 57 16 10 0 84 2 85 Reclassifications (to)/from “held for sale” (115) (15) (62) 0 (191) 0 (191) Disposals 0 178 125 0 303 133 436 Exchange rate changes 1 34 39 0 74 29 103 Balance as of December 31, 2021 288 1,860 2,095 1 4,244 1,957 6,201 Carrying amount: Balance as of December 31, 2020 270 487 908 387 2,051 3,497 5,549 Balance as of December 31, 2021 226 423 1,007 398 2,054 3,482 5,536 Depreciation expenses, impairment losses and reversal of impairment losses on property and equipment are recorded within general and administrative expenses for the income statement. The carrying value of items of property and equipment on which there is a restriction on sale was € 22 million € 23 million Commitments for the acquisition of property and equipment were € 35 million € 27 million The Group leases many assets including land and buildings, vehicles and IT equipment for which it records right-of-use assets. During 2021, additions to right-of-use assets amounted to € 254 million € 631 million € 3.5 billion € 3.5 billion € 11 million |
Leases
Leases | 12 Months Ended |
Dec. 31, 2021 | |
Leases [Abstract] | |
Disclosure of leases [text block] | 22 – The Group’s disclosures are as a lessee under lease arrangements covering property and equipment. The Group has applied judgement in presenting related information pursuant to IFRS 16 in a manner that it considers to be most relevant to an understanding of its financial performance and position. The Group leases many assets including land and buildings, vehicles and IT equipment. The Group is a lessee for the majority of its offices and branches under long-term rental agreements. Most of the lease contracts are made under usual terms and conditions, which means they include options to extend the lease by a defined amount of time, price adjustment clauses and escalation clauses in line with general office rental market conditions. However, the lease agreements do not include any clauses that impose any restriction on the Group’s ability to pay dividends, engage in debt financing transactions or enter into further lease agreements. As of December 31, 2021 (December 31, 2020), the Group recorded right-of-use assets on its balance sheet with a carrying amount of € 3.5 billion € 3.5 billion € 3.5 billion € 3.5 billion € 11 million € 12 million Corresponding to the recognition of the right-of-use assets, as of December 31, 2021 (December 31, 2020), the Group recorded lease liabilities on its balance sheet with a carrying amount of € 4.0 billion € 4.0 billion € 495 million During 2021 and 2020, interest expenses recorded from the compounding of the lease liabilities amounted to € 86 million € 79 million Expenses recognized in 2021 (2020) relating to short-term leases and leases of low-value assets, for which the Group decided to apply the recognition exemption under IFRS 16 (and thus not to record right-of-use assets and corresponding lease liabilities on the balance sheet), amounted to € 2 million € 7 million € 0 million € 2 million Income recorded in 2021 (2020) from the subletting of right-of-use assets totaled € 34 million € 24 million The total cash outflow for leases for 2021 (2020) was € 767 million € 729 million € 754 million € 708 million € 679 million € 653 million € 87 million € 77 million Total future cash outflows to which the Group as a lessee is potentially exposed, that are not reflected in the measurement of the lease liabilities, mainly include potential payment exposures arising from extension options (2021: € 5.3 billion € 1.1 billion Future cash outflows to which the Group is potentially exposed that are not reflected in the measurement of lease liabilities Dec 31, 2021 Dec 31, 2020 Future cash outflows not reflected in lease liabilities: Not later than one year 10 50 Later than one year and not later than five years 539 791 Later than five years 5,849 5,097 Future cash outflows not reflected in lease liabilities 6,398 5,938 |
Goodwill and Other Intangible A
Goodwill and Other Intangible Assets | 12 Months Ended |
Dec. 31, 2021 | |
Goodwill and Other Intangible Assets [Abstract] | |
Disclosure of intangible assets and goodwill [text block] | 23 – Changes in Goodwill The changes in the carrying amount of goodwill, as well as gross amounts and accumulated impairment losses of goodwill, for the years ended December 31, 2021, and December 31, 2020, are shown below by cash-generating units (“CGU”). The Group’s business operations are organized under the following divisional structure: the Core Bank, which includes the Corporate Bank (“CB”), Investment Bank (“IB”), Private Bank (“PB”) and Asset Management (“AM”) corporate divisions and the Capital Release Unit (“CRU”). The CB, IB, PB and the AM corporate divisions as well as the CRU each are considered cash-generating units (CGUs). Please also refer to Note 4 “Business Segments and Related Information” for more information regarding changes in the presentation of segment disclosures. Goodwill allocated to cash-generating units in € m. Investment Bank Corporate Bank Asset Private Bank Total Balance as of January 1, 2020 0 0 2,881 0 2,881 Goodwill acquired during the year 0 0 0 0 0 Purchase accounting adjustments 0 0 0 0 0 Transfers 0 0 0 0 0 Reclassification from (to) “held for sale” 0 0 0 0 0 Goodwill related to dispositions without being classified as “held for sale” 0 0 0 0 0 Impairment losses 1 0 0 0 0 0 Exchange rate changes/other 0 0 (142) 0 (142) Balance as of December 31, 2020 0 0 2,739 0 2,739 Gross amount of goodwill 3,608 569 3,197 3,698 11,073 Accumulated impairment losses (3,608) (569) (458) (3,698) (8,334) Balance as of January 1, 2021 0 0 2,739 0 2,739 Goodwill acquired during the year 0 5 0 0 5 Purchase accounting adjustments 0 0 0 0 0 Transfers 0 0 0 0 0 Reclassification from (to) “held for sale” 0 0 (56) 0 (56) Goodwill related to dispositions without being classified as “held for sale” 0 0 0 0 0 Impairment losses 1 0 (5) 0 0 (5) Exchange rate changes/other 0 0 123 0 123 Balance as of December 31, 2021 0 0 2,806 0 2,806 Gross amount of goodwill 3,854 602 3,295 3,716 11,467 Accumulated impairment losses (3,854) (602) (489) (3,716) (8,662) 1 Impairment losses of goodwill are recorded as impairment of goodwill and other intangible assets in the income statement. Changes in goodwill in 2021 mainly included the reclassification of € 56 million € 5 million Changes in goodwill in 2020 solely related to foreign exchange rate movements of AM goodwill held in non-Group currencies. Changes in goodwill in 2019 were mainly driven by the transformational measures relating to the Group’s businesses and its reorganization. Triggered by the impact of a lowered outlook on business plans driven both by adjustments to macro-economic factors as well as by the impact of strategic decisions in preparation of the transformation announcement, in the second quarter 2019 the Group reviewed the recoverable amounts of its CGUs in the then existing structure. This review resulted in a short-fall of the recoverable amounts against the then existing respective CGUs carrying amounts for WM within the former Private & Commercial Bank (“PCB”) corporate division and GTB & CF within the former Corporate & Investment Bank (“CIB”) corporate division. With a recoverable amount of approximately € 1.9 billion € 545 million € 10.2 billion € 491 million € 1.0 billion € 545 million € 491 million Goodwill Impairment Test For the purposes of impairment testing, goodwill acquired in a business combination is allocated to CGUs. On the basis as described in Note 1 “Significant Accounting Policies and Critical Accounting Estimates”, the Group’s primary CGUs are as outlined above. Goodwill is tested for impairment annually in the fourth quarter by comparing the recoverable amount of each goodwill-carrying CGU with its carrying amount. In addition, in accordance with IAS 36, the Group tests goodwill whenever a triggering event is identified. The recoverable amount is the higher of a CGU’s fair value less costs of disposal and its value in use. Following the aforementioned write-off of goodwill in the former GTB & CF CGUs in the second quarter 2019 and the derecognition of ring-fenced goodwill included in the disposal of a nonintegrated subsidiary recorded in the third quarter 2019, the AM CGU was the only goodwill carrying CGU to be tested for annual impairment in 2019, 2020 and 2021. The annual goodwill impairment tests conducted in these periods did not result in an impairment loss on the Group’s primary goodwill-carrying CGU as the recoverable amounts of the AM CGU were higher than the respective carrying amounts. A review of the Group’s strategy or certain political or global risks for the banking industry, uncertainties regarding the implementation of already adopted regulation and the introduction of legislation that is already under discussion could result in an impairment of goodwill in the future. Carrying Amount The carrying amount of a primary CGU is derived using a capital allocation model based on the Shareholders’ Equity Allocation Framework of the Group (please refer to Note 4, “Business Segments and Related Information” for more details). The allocation uses the Group’s total equity at the date of valuation, including Additional Tier 1 Notes (“AT1 Notes”), which constitute unsecured and subordinated notes of Deutsche Bank and which are classified as Additional equity components in accordance with IFRS. Total equity is adjusted for an add-on adjustment for goodwill attributable to noncontrolling interests. Recoverable Amount The Group determines the recoverable amounts of its primary CGUs on the basis of the higher of value in use and fair value less costs of disposal (Level 3 of the fair value hierarchy). It employs a discounted cash flow (DCF) model, which reflects the specifics of the banking business and its regulatory environment. The model calculates the present value of the estimated future earnings that are distributable to shareholders after fulfilling the respective regulatory capital requirements. The recoverable amounts also include the fair value of the AT1 Notes, allocated to the primary CGUs consistent to their treatment in the carrying amount. The DCF model uses earnings projections and respective capitalization assumptions based on five-year financial plans as well as longer term expectations on the impact of regulatory developments, which are discounted to their present value. Estimating future earnings and capital requirements involves judgment and the consideration of past and current performances as well as expected developments in the respective markets, and in the overall macroeconomic and regulatory environments. Earnings projections beyond the initial five-year period are, where applicable, adjusted to derive a sustainable level. In case of a going concern, the cash flow to equity is assumed to increase by or converge towards a constant long-term growth rate for the AM CGU of up to 2.7 % 3.1 % Key Assumptions and Sensitivities Key Assumptions: 9.1 % 9.8 % Management determined the values for the key assumptions in the following table based on a combination of internal and external analysis. Estimates for efficiency and the cost reduction program are based on progress made to date and scheduled future projects and initiatives. Primary goodwill- carrying cash-generating unit Description of key assumptions Uncertainty associated with key assumptions and potential events/circumstances that could have a negative effect Asset Management — — — — — — — — — — Sensitivities 32 % € 2.1 billion Change in certain key assumptions to cause the recoverable amount to equal the carrying amount AM Discount rate (post tax) increase from 9.1 % to 11.3 % Change in projected future earnings in each period by 21.1 % Long term growth rate N/M N/M – Not meaningful, as a rate of 0 % would still lead to a recoverable amount in excess of the carrying amount. Other Intangible Assets Changes of other intangible assets by asset classes for the years ended December 31, 2021 and December 31, 2020 Purchased intangible assets Internally Total other Unamortized Amortized Amortized in € m. Retail Other Total Customer- Contract- Software Total Software Cost of acquisition/ Balance as of 1,030 442 1,472 1,403 70 625 2,098 7,512 11,082 Additions 0 0 0 5 0 138 143 911 1,054 Changes in the group of 0 0 0 0 0 0 0 0 0 Disposals 0 0 0 0 0 5 5 390 394 Reclassifications from 0 0 0 0 0 (37) (37) (9) (46) Transfers 0 0 0 0 0 60 60 21 81 Exchange rate changes (85) (1) (86) (53) 0 (2) (55) (136) (277) Balance as of 945 441 1,386 1,356 70 778 2,204 7,910 11,499 Additions 0 0 0 13 0 22 35 1,106 1,141 Changes in the group of 0 0 0 0 0 0 0 5 4 Disposals 0 0 0 0 0 12 12 86 98 Reclassifications from 0 0 0 0 0 0 0 (40) (40) Transfers 0 0 0 (5) 0 0 (5) (1) (6) Exchange rate changes 71 1 72 34 0 1 35 125 231 Balance as of 1,017 440 1,457 1,398 70 789 2,257 9,018 12,732 Accumulated amortization Balance as of 260 440 700 1,384 70 528 1,982 4,254 6,935 Amortization for the year 0 0 0 8 0 37 45 994 1,040 1 Changes in the group of 0 0 0 0 0 0 0 0 0 Disposals 0 0 0 0 0 3 3 385 388 Reclassifications from 0 0 0 0 0 (33) (33) (8) (41) Impairment losses 0 0 0 0 0 0 0 50 51 2 Reversals of impairment 0 0 0 0 0 0 0 2 2 3 Transfers 0 0 0 0 0 106 106 (22) 84 Exchange rate changes (22) 0 (22) (52) 0 (2) (54) (88) (165) Balance as of 239 439 678 1,340 70 633 2,043 4,793 7,513 Amortization for the year 0 0 0 6 0 37 43 974 1,017 4 Changes in the group of 0 0 0 0 0 0 0 0 (1) Disposals 0 0 0 0 0 12 12 85 97 Reclassifications from 0 0 0 0 0 0 0 (9) (9) Impairment losses 0 0 0 3 0 0 3 149 152 5 Reversals of impairment 0 0 0 0 0 0 0 0 0 Transfers 0 0 0 0 0 3 3 0 2 Exchange rate changes 18 0 18 34 0 1 35 83 136 Balance as of 257 439 696 1,383 70 662 2,115 5,904 8,714 Carrying amount: As of December 31, 2020 706 2 708 16 0 145 161 3,117 3,986 As of December 31, 2021 760 1 761 15 0 128 143 3,114 4,018 1 € 1.0 billion 2 € 51 million 3 € 2 million 4 € 1.0 billion 5 € 152 million € 149 million € 3 million Amortizing Intangible Assets In 2021, amortizing other intangible assets remained nearly unchanged, decreasing only slightly by net € 21 million € 1.0 billion € 1.0 billion € 149 million € 1.1 billion € 42 million In 2020, amortizing other intangible assets decreased by € 161 million € 1.0 billion € 1.0 billion € 50 million € 1.1 billion € 112 million In 2019, amortizing other intangible assets decreased by a net € 1.1 billion € 1.3 billion € 1.2 billion € 937 million € 1.0 billion € 26 million Other intangible assets with finite useful lives are generally amortized over their useful lives based on the straight-line method. Useful lives of other amortized intangible assets by asset class Useful lives Internally generated intangible assets: Software up to 10 Purchased intangible assets: Customer-related intangible assets up to 20 Other up to 10 Unamortized Intangible Assets Within this asset class, the Group recognizes certain contract-based and marketing-related intangible assets, which are deemed to have an indefinite useful life. In particular, the asset class comprises the below detailed investment management agreements related to retail mutual funds and certain trademarks. Due to the specific nature of these intangible assets, market prices are ordinarily not observable and, therefore, the Group values such assets based on the income approach, using a post-tax DCF-methodology. Retail investment management agreements: These assets, amounting to € 760 million , relate to the Group’s U.S. retail mutual fund business and are allocated to the AM CGU. Retail investment management agreements are contracts that give AM the exclusive right to manage a variety of mutual funds for a specified period. Since these contracts are easily renewable, the cost of renewal is minimal, and they have a long history of renewal, these agreements are not expected to have a foreseeable limit on the contract period. Therefore, the rights to manage the associated assets under management are expected to generate cash flows for an indefinite period of time. This intangible asset was recorded at fair value based upon a valuation provided by a third party at the date of acquisition of Zurich Scudder Investments, Inc. in 2002. The recoverable amount was calculated as fair value less costs of disposal using the multi-period excess earnings method and the fair value measurement was categorized as Level 3 in the fair value hierarchy and is essentially flat compared to the carrying amount. The key assumptions in determining the fair value less costs of disposal include the asset mix, the flows forecast, the effective fee rate and discount rate as well as the terminal value growth rate. The discount rate (cost of equity) applied in the calculation was 9.8 % in 2021 ( 10.3 % in 2020). The terminal value growth rate applied for 2021 is 4.1 % (for 2020 4.1 % ). The reviews of the valuations for the years 2021 and 2020 neither resulted in any impairment nor a reversal of prior impairments. |
Non-Current Assets and Disposal
Non-Current Assets and Disposal Groups Held for Sale | 12 Months Ended |
Dec. 31, 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] | 24 – in € m. Dec 31, 2021 Dec 31, 2020 Cash and bank balances 6 0 Financial assets at fair value through profit or loss 0 6,086 Property and equipment 9 11 Goodwill and other intangible assets 88 0 Other assets 296 0 Total assets classified as held for sale 398 6,097 Financial liabilities at fair value through profit or loss 0 2,000 Other liabilities 252 7,850 Total liabilities classified as held for sale 252 9,850 As of December 31, 2021, and December 31, 2020, no unrealized gains (losses) relating to non-current assets classified as held for sale were recognized directly in accumulated other comprehensive income (loss) (net of tax). DWS Partners with BlackFin to Unlock Full Potential of Digital Investment Platform IKS In September 2021, DWS Group (“DWS”) and BlackFin Capital Partners (“BlackFin”) have agreed on a long-term strategic partnership to jointly evolve the digital investment platform into a platform eco system that provides comprehensive digital investment solutions and services to distribution partners, institutional investors and retail clients. It was agreed that DWS will transfer its digital investment platform into a joint venture with BlackFin, maintaining a stake of 30 % Transfer of Global Prime Finance & Electronic Equities platform to BNP Paribas completed As part of the Group’s strategic transformation and restructuring plans announced on July 7, 2019, the Management Board of Deutsche Bank had announced the exit of the Equities Sales & Trading business. In this context, Deutsche Bank had entered into an agreement with BNP Paribas S.A. (“BNP Paribas “) to provide continuity of service to its prime finance and electronic equities clients, with a view to transferring technology and staff to BNP Paribas and to continue to operate the platform until clients are migrated to BNP Paribas, with revenues transferred to BNP Paribas and certain costs to be refunded to Deutsche Bank. On November 14, 2019, BNP Paribas and Deutsche Bank announced that the agreement to refer clients and to transfer technology and key staff from the respective businesses to BNP Paribas had received the necessary approvals and was therefore considered unconditional. The revenue transfer and cost reimbursement arrangement commenced on December 1, 2019. Accordingly, in the fourth quarter 2019, the assets ( € 5.0 billion € 9.6 billion € 6.1 billion € 9.9 billion The Group and BNP Paribas have announced on January 5, 2022 that the transfer of clients, technology and key staff from Deutsche Bank’s Global Prime Finance and Electronic Equities businesses to BNP Paribas has been successfully completed by the end of 2021, in line with the targeted timeline. With this, Deutsche Bank has achieved a key milestone in its ongoing transformation. Agreement to sell the Italian financial advisors network to Zurich Italy In August 2021, Deutsche Bank and Zurich Insurance Group Italy (“Zurich Italy”) have reached an agreement wherein Zurich Italy will acquire Deutsche Bank’s Financial Advisors Network in Italy. The transaction is subject to outstanding substantive regulatory approvals and therefore was not considered a disposal group held for sale at year-end 2021. Closing is expected for the second half of 2022. Disposals in 2020 Division Disposal 1,500 Financial impact € (120) million € (104) million € (16) million Date of disposal |
Other Assets and Other Liabilit
Other Assets and Other Liabilities | 12 Months Ended |
Dec. 31, 2021 | |
Other Assets and Other Liabilities [Abstract] | |
Disclosure of Other Assets and Other Liabilities [text block] | 25 – in € m. Dec 31, 2021 Dec 31, 2020 Brokerage and securities related receivables Cash/margin receivables 48,675 58,714 Receivables from prime brokerage 5 41 Pending securities transactions past settlement date 3,579 2,752 Receivables from unsettled regular way trades 19,236 13,057 Total brokerage and securities related receivables 71,495 74,564 Debt Securities held to collect 14,800 12,587 Accrued interest receivable 2,084 1,656 Assets held for sale 398 6,097 Other 15,007 15,456 Total other assets 103,784 110,360 in € m. Dec 31, 2021 Dec 31, 2020 Brokerage and securities related payables Cash/margin payables 52,875 66,259 Payables from prime brokerage 583 271 Pending securities transactions past settlement date 1,549 1,612 Payables from unsettled regular way trades 15,158 11,668 Total brokerage and securities related payables 70,165 79,810 Accrued interest payable 1,625 1,740 Liabilities held for sale 252 9,850 Lease liabilities 3,965 3,974 Other 21,788 18,834 Total other liabilities 97,795 114,208 For further details on the assets and liabilities held for sale, please refer to Note 24 “Non-Current Assets and Disposal Groups Held for Sale”. |
Deposits
Deposits | 12 Months Ended |
Dec. 31, 2021 | |
Deposits [Abstract] | |
Disclosure of Deposits [text block] | 26 – in € m. Dec 31, 2021 Dec 31, 2020 Noninterest-bearing demand deposits 226,091 220,501 Interest-bearing deposits Demand deposits 167,807 154,704 Time deposits 122,478 106,551 Savings deposits 88,021 85,989 Total interest-bearing deposits 378,306 347,244 Total deposits 604,396 567,745 |
Provisions
Provisions | 12 Months Ended |
Dec. 31, 2021 | |
Provisions [Abstract] | |
Disclosure of provisions [text block] | 27 – Movements by Class of Provisions in € m. Operational Civil Regulatory Re- Other Total 1 Balance as of January 1, 2020 119 544 543 684 384 2,276 Changes in the group of consolidated companies 0 0 (0) (0) (3) (4) New provisions 20 107 183 553 505 1,368 Amounts used 11 182 165 641 401 1,400 Unused amounts reversed 39 106 27 105 84 361 Effects from exchange rate fluctuations/Unwind of discount 0 (9) (41) 4 (15) (60) Transfers (0) 0 (1) 181 8 189 Balance as of December 31, 2020 89 355 492 676 396 2,007 Changes in the group of consolidated companies 0 0 0 0 2 2 New provisions 62 475 110 302 641 1,590 Amounts used 2 112 113 339 470 1,036 Unused amounts reversed 106 78 40 58 151 434 Effects from exchange rate fluctuations/Unwind of discount 0 6 26 1 7 40 Transfers (0) (1) 0 (0) 24 22 Balance as of December 31, 2021 42 644 475 582 448 2,192 1 For the remaining portion of provisions as disclosed on the consolidated balance sheet, please see Note 19 “Allowance for Credit Losses”, in which allowances for credit related off-balance sheet positions are disclosed. Classes of Provisions Operational Risk Civil Litigation Regulatory Enforcement Restructuring Other Provisions and Contingent Liabilities The Group recognizes a provision for potential loss only when there is a present obligation arising from a past event that is probable to result in an economic outflow that can be reliably estimated. Where a reliable estimate cannot be made for such an obligation, no provision is recognized and the obligation is deemed a contingent liability. Contingent liabilities also include possible obligations for which the possibility of future economic outflow is more than remote but less than probable. Where a provision has been taken for a particular claim, no contingent liability is recorded; for matters or sets of matters consisting of more than one claim, however, provisions may be recorded for some claims, and contingent liabilities (or neither a provision nor a contingent liability) may be recorded for others. The Group operates in a legal and regulatory environment that exposes it to significant litigation risks. As a result, the Group is involved in litigation, arbitration and regulatory proceedings and investigations in Germany and in a number of jurisdictions outside Germany, including the United States. In recent years, regulation and supervision in a number of areas have increased, and regulators, governmental bodies and others have sought to subject financial services providers to increasing oversight and scrutiny, which in turn has led to additional regulatory investigations and enforcement actions which are often followed by civil litigation. In determining for which of the claims the possibility of a loss is probable, or less than probable but more than remote, and then estimating the possible loss for those claims, the Group takes into consideration a number of factors, including but not limited to the nature of the claim and its underlying facts, the procedural posture and litigation history of each case, rulings by the courts or tribunals, the Group’s experience and the experience of others in similar cases (to the extent this is known to the Group), prior settlement discussions, settlements by others in similar cases (to the extent this is known to the Group), available indemnities and the opinions and views of legal counsel and other experts. The provisions the Group has recognized for civil litigation and regulatory enforcement matters as of December 31, 2021 and December 31, 2020 are set forth in the table above. For some matters for which the Group believes an outflow of funds is probable, no provisions were recognized as the Group could not reliably estimate the amount of the potential outflow. For the matters for which a reliable estimate can be made, the Group currently estimates that, as of December 31, 2021, the aggregate future loss of which the possibility is more than remote but less than probable is approximately € 1.7 billion € 2.1 billion € 0.1 billion € 0.2 billion This estimated possible loss, as well as any provisions taken, is based upon currently available information and is subject to significant judgment and a variety of assumptions, variables and known and unknown uncertainties. These uncertainties may include inaccuracies in or incompleteness of the information available to the Group, particularly at the preliminary stages of matters, and assumptions by the Group as to future rulings of courts or other tribunals or the likely actions or positions taken by regulators or adversaries may prove incorrect. Moreover, estimates of possible loss for these matters are often not amenable to the use of statistical or other quantitative analytical tools frequently used in making judgments and estimates, and are subject to even greater degrees of uncertainty than in many other areas where the Group must exercise judgment and make estimates. The estimated possible loss, as well as any provisions taken, can be and often are substantially less than the amount initially requested by regulators or adversaries or the maximum potential loss that could be incurred were the matters to result in a final adjudication adverse to the Group. Moreover, in several regions in which the Group operates, an adversary often is not required to set forth the amount it is seeking, and where it is, the amount may not be subject to the same requirements that generally apply to pleading factual allegations or legal claims. The matters for which the Group determines that the possibility of a future loss is more than remote will change from time to time, as will the matters as to which a reliable estimate can be made and the estimated possible loss for such matters. Actual results may prove to be significantly higher or lower than the estimate of possible loss in those matters where such an estimate was made. In addition, loss may be incurred in matters with respect to which the Group believed the likelihood of loss was remote. In particular, the estimated aggregate possible loss does not represent the Group’s potential maximum loss exposure for those matters. The Group may settle litigation or regulatory proceedings or investigations prior to a final judgment or determination of liability. It may do so to avoid the cost, management efforts or negative business, regulatory or reputational consequences of continuing to contest liability, even when the Group believes it has valid defenses to liability. It may also do so when the potential consequences of failing to prevail would be disproportionate to the costs of settlement. Furthermore, the Group may, for similar reasons, reimburse counterparties for their losses even in situations where it does not believe that it is legally compelled to do so. Current Individual Proceedings Set forth below are descriptions of civil litigation and regulatory enforcement matters or groups of matters for which the Group has taken material provisions, or for which there are material contingent liabilities that are more than remote, or for which there is the possibility of material business or reputational risk; similar matters are grouped together and some matters consist of a number of proceedings or claims. The disclosed matters include matters for which the possibility of a loss is more than remote but for which the Group cannot reliably estimate the possible loss. Sets of matters are presented in English-language alphabetical order based on the titles the Group has used for them. Anti-Money Laundering Matters Involving Former Correspondent Banking Relationships. Additionally, on September 24 and 25, 2019, based on a search warrant issued by the Local Court ( Amtsgericht € 13.5 million On July 7, 2020, the New York State Department of Financial Services (DFS) issued a Consent Order, finding that Deutsche Bank violated New York State banking laws in connection with its relationships with three former Deutsche Bank clients--Danske Bank’s Estonia branch, Jeffrey Epstein and FBME Bank--and imposing a U.S.$ 150 million The remaining investigations are understood to be ongoing. On July 15, 2020, Deutsche Bank was named as a defendant in a securities class action filed in the U.S. District Court for the District of New Jersey, alleging that the Bank made material misrepresentations regarding the effectiveness of its anti-money laundering (AML) controls and related remediation. The complaint cites allegations regarding control deficiencies raised in the DFS Consent Order related to the Bank’s relationships with Danske Bank’s Estonia branch, Jeffrey Epstein and FBME Bank. On September 30, 2020, the plaintiff filed an amended complaint that included additional allegations regarding the effectiveness of the Bank’s AML controls. On December 28, 2020, the court appointed lead plaintiff and lead counsel. Lead plaintiff filed a second amended complaint on March 1, 2021. On April 23, 2021, the Bank filed a motion to transfer the action, or in the alternative, to dismiss the second amended complaint. Briefing on the motion concluded on July 1, 2021. The Group has not established a provision or contingent liability with respect to the remaining investigations and civil action. BGH. Verbraucher Verbraucher € 130 million Cum-ex Investigations and Litigations. The Public Prosecutor in Cologne ( Staatsanwaltschaft Köln In May 2021, Deutsche Bank learned through an information request received by Deutsche Oppenheim Family Office AG (“DOAG”) as legal successor of Sal. Oppenheim jr. & Cie. AG & Co. KGaA (“Sal. Oppenheim”) that the CPP in 2021 opened a criminal investigation proceeding in relation to cum-ex transactions against unknown former personnel of Sal. Oppenheim. DOAG provided the requested information on September 13 and October 15, 2021. Deutsche Bank acted as participant in and filed withholding tax refund claims through the electronic refund procedure ( elektronisches Datenträgerverfahren Bundeszentralamt für Steuern € 49 million € 2.1 million € 2.1 million € 2.1 million By letter dated February 26, 2018, The Bank of New York Mellon SA/NV (“BNY”) informed Deutsche Bank of its intention to seek indemnification for potential cum-ex related tax liabilities incurred by BHF Asset Servicing GmbH (“BAS”) and/or Frankfurter Service Kapitalanlage-GmbH (“Service KAG”, now named BNY Mellon Service Kapitalanlage-Gesellschaft mbH). Deutsche Bank had acquired BAS and Service KAG as part of the acquisition of Sal. Oppenheim in 2010 and sold them to BNY in the same year. BNY estimates the potential tax liability to amount to up to € 120 million 6 % On February 6, 2019, the Regional Court ( Landgericht € 250 million € 166 million € 84 million € 176 million € 166 million € 10 million Steuerschuldner Oberlandesgericht € 86 million € 63 million € 23 million € 54 million Oberlandesgericht Nichtzulassungsbeschwerde On January 25, 2021, the Regional Court ( Landgericht Gesamtschuldner € 61 million € 49 million inter alia sittenwidriges Geschäftsmodell Streitverkündung On February 26, 2021, the Regional Court ( Landgericht Steuerbescheinigungen The Group has not disclosed whether it has established a provision or contingent liability with respect to these matters because it has concluded that such disclosure can be expected to prejudice seriously their outcome. FX Investigations and Litigations. On October 19, 2016, the U.S. Commodity Futures Trading Commission (CFTC), Division of Enforcement, issued a letter (“CFTC Letter”) notifying Deutsche Bank that the CFTC Division of Enforcement “is not taking any further action at this time and has closed the investigation of Deutsche Bank” regarding foreign exchange. As is customary, the CFTC Letter states that the CFTC Division of Enforcement “maintains the discretion to decide to reopen the investigation at any time in the future.” The CFTC Letter has no binding impact on other regulatory and law enforcement agency investigations regarding Deutsche Bank’s foreign exchange trading and practices. On December 7, 2016, it was announced that Deutsche Bank reached an agreement with CADE, the Brazilian antitrust enforcement agency, to settle an investigation into conduct by a former Brazil-based Deutsche Bank trader. As part of that settlement, Deutsche Bank paid a fine of BRL € 51 million On February 13, 2017, the U.S. Department of Justice (DOJ), Criminal Division, Fraud Section, issued a letter (“DOJ Letter”) notifying Deutsche Bank that the DOJ has closed its criminal inquiry “concerning possible violations of federal criminal law in connection with the foreign exchange markets.” As is customary, the DOJ Letter states that the DOJ may reopen its inquiry if it obtains additional information or evidence regarding the inquiry. The DOJ Letter has no binding impact on other regulatory and law enforcement agency investigations regarding Deutsche Bank’s foreign exchange trading and practices. On April 20, 2017, it was announced that Deutsche Bank AG, DB USA Corporation and Deutsche Bank AG New York Branch reached an agreement with the Board of Governors of the Federal Reserve System to settle an investigation into Deutsche Bank’s foreign exchange trading and practices. Under the terms of the settlement, Deutsche Bank entered into a cease-and-desist order, and agreed to pay a civil monetary penalty of U.S.$ 137 million On June 20, 2018, it was announced that Deutsche Bank AG and Deutsche Bank AG New York Branch reached an agreement with the New York State Department of Financial Services (DFS) to settle an investigation into Deutsche Bank’s foreign exchange trading and sales practices. Under the terms of the settlement, Deutsche Bank entered into a consent order, and agreed to pay a civil monetary penalty of U.S.$ 205 million Investigations conducted by certain other regulatory agencies are ongoing, and Deutsche Bank has cooperated with these investigations. On February 25, 2020, plaintiffs in the “Indirect Purchasers” action pending in the U.S. District Court for the Southern District of New York ( Contant, et al Bank of America Corp., et al. U.S.$ 10 million Allianz, et al. v. Bank of America Corporation, et al. In re Foreign Exchange Benchmark Rates Antitrust Litigation Deutsche Bank also has been named as a defendant in two Canadian class proceedings brought in the provinces of Ontario and Quebec. Filed on September 10, 2015, these class actions assert factual allegations similar to those made in the consolidated action in the United States and seek damages pursuant to the Canadian Competition Act as well as other causes of action. Plaintiffs’ motion for class certification in the Ontario action was granted on April 14, 2020. On July 2, 2021, Deutsche Bank entered an agreement to settle the Canadian class proceedings. The settlement agreement was approved by the Ontario Superior Court of Justice on September 23, 2021, and the Quebec Superior Court of Justice on October 20, 2021. Deutsche Bank has also been named as a defendant in an amended and consolidated class action filed in Israel. This action asserts factual allegations similar to those made in the consolidated action in the United States and seeks damages pursuant to Israeli antitrust law as well as other causes of action. This action is in preliminary stages. On November 10, 2020, Deutsche Bank was named in an action issued in the UK High Court of Justice (Commercial Court) brought by The ECU Group PLC. The proceedings have now settled on confidential terms. On November 11, 2020, Deutsche Bank was named in an action issued in the UK High Court of Justice (Commercial Court) brought by many of the same plaintiffs who brought Allianz, et al. v. Bank of America Corporation, et al. Allianz, et al. v. Bank of America Corporation, et al. On May 4, 2021, Deutsche Bank S.A. – Banco Alemao was named in a civil antitrust action brought in the São Paulo Civil Court of Central Jurisdiction by the Association of Brazilian Exporters (AEB) against certain FX dealers and affiliated financial institutions in Brazil. This action asserts factual allegations based on conduct investigated by CADE and seeks damages pursuant to Brazilian antitrust law. Deutsche Bank has not yet been served. The Group has not disclosed whether it has established a provision or contingent liability with respect to these matters because it has concluded that such disclosure can be expected to seriously prejudice its outcome. Interbank and Dealer Offered Rates Matters. Regulatory and Law Enforcement Matters. As previously reported, Deutsche Bank paid € 725 million Also as previously reported, on April 23, 2015, Deutsche Bank entered into separate settlements with the DOJ, the CFTC, the UK Financial Conduct Authority (FCA), and the New York State Department of Financial Services (DFS) to resolve investigations into misconduct concerning the setting of LIBOR, EURIBOR, and TIBOR. Under the terms of these agreements, Deutsche Bank paid penalties of U.S.$ 2.175 billion GBP 226.8 million Also, as previously reported, on March 20, 2017, Deutsche Bank paid CHF 5.4 million On October 25, 2017, Deutsche Bank entered into a settlement with a working group of U.S. state attorneys general resolving their interbank offered rate investigation. Among other conditions, Deutsche Bank made a settlement payment of U.S. $ 220 million Other investigations of Deutsche Bank concerning the setting of various interbank and/or dealer offered rates remain ongoing. The Group has not disclosed whether it has established a provision or contingent liability with respect to the remaining investigations because it has concluded that such disclosure can be expected to seriously prejudice its outcome. Overview of Civil Litigations. Claims for damages for all 27 of the U.S. civil actions discussed have been asserted under various legal theories, including violations of the U.S. Commodity Exchange Act, federal and state antitrust laws, the U.S. Racketeer Influenced and Corrupt Organizations Act, and other federal and state laws. The Group has not disclosed whether it has established a provision or contingent liability with respect to these matters because it has concluded that such disclosure can be expected to prejudice seriously their outcome. U.S. dollar LIBOR Following a series of decisions in the U.S. dollar LIBOR MDL between March 2013 and March 2019 narrowing their claims, plaintiffs are currently asserting antitrust claims, claims under the U.S. Commodity Exchange Act and U.S. Securities Exchange Act and state law fraud, contract, unjust enrichment and other tort claims. The court has also issued decisions dismissing certain plaintiffs’ claims for lack of personal jurisdiction and on statute of limitations grounds. On December 20, 2016, the district court issued a ruling dismissing certain antitrust claims while allowing others to proceed. Multiple plaintiffs have filed appeals of the district court’s December 20, 2016 ruling to the U.S. Court of Appeals for the Second Circuit, and those appeals proceeded in parallel with the ongoing proceedings in the district court. On December 30, 2021, the Second Circuit affirmed the district court’s decision on antitrust standing grounds but reversed the court’s decision on personal jurisdiction grounds, and it remanded the cases to the district court for further proceedings. On July 29, 2020, Deutsche Bank executed a settlement agreement with plaintiffs in the amount of U.S. $ 425 thousand The Berkshire Bank Bank of America On March 5, 2021, Deutsche Bank and the plaintiffs in a non-class action pending as part of the U.S. dollar LIBOR MDL ( Amabile Bank of America Corporation On December 8, 2021, Deutsche Bank and the plaintiffs in four non-class actions pending as part of the U.S. dollar LIBOR MDL (the Schwab actions) stipulated to the dismissal of plaintiffs’ claims against Deutsche Bank. The court dismissed plaintiffs’ claims on December 10, 2021. On February 3, 2022, Deutsche Bank and the plaintiffs in two non-class actions pending as part of the U.S. dollar LIBOR MDL (the Philadelphia actions) stipulated to the dismissal of plaintiffs’ claims against Deutsche Bank. The court dismissed plaintiffs’ claims on February 4, 2022. In January and March 2019, plaintiffs filed three putative class action complaints in the SDNY against several financial institutions, alleging that the defendants, members of the panel of banks that provided U.S. dollar LIBOR submissions, the organization that administers LIBOR, and their affiliates, conspired to suppress U.S. dollar LIBOR submissions from February 1, 2014 through the present. These actions were subsequently consolidated under In re ICE LIBOR Antitrust Litigation In August 2020, plaintiffs filed a non-class action in the U.S. District Court for the Northern District of California against several financial institutions, alleging that U.S. dollar LIBOR has been suppressed through the present. On November 10, 2020, plaintiffs moved the court for a preliminary and permanent injunction; briefing of that motion is complete. On November 11, 2020, certain defendants moved to transfer the action to the SDNY; briefing of that motion is complete. On May 24, 2021, plaintiffs filed a motion for an order to show cause why the court should not order plaintiffs’ previously requested injunction. Defendants moved to strike the motion. On June 3, 2021, the court issued an order (i) denying defendants’ motion to transfer the action to the SDNY, (ii) denying defendants’ motion to strike plaintiffs’ May 24 motion and (iii) setting a hearing for the injunction motions for September 9, 2021. On December 23, 2021, the court issued a written decision denying the injunction motions. On September 9, 2021, the court held a hearing on the injunction motions and tentatively denied the motions. On September 30, 2021, defendants moved to dismiss the complaint. The motions to dismiss are now fully briefed. This action is not part of the U.S. dollar LIBOR MDL. There is a further UK civil action regarding U.S. dollar LIBOR brought by the U.S. Federal Deposit Insurance Corporation (FDIC), in which a claim for damages has been asserted pursuant to Article 101 of The Treaty on the Functioning of the European Union, Section 2 of Chapter 1 of the UK Competition Act 1998 and U.S. state laws. In January 2022, following a ruling issued by the U.S. Court of Appeals for the Second Circuit in relation to USD LIBOR antitrust claims, the FDIC has requested the defendant banks consider a short stay of the UK LIBOR proceedings, pending resolution of an application to reinstate these either in part or full in the US. A further class action regarding LIBOR has been filed in Argentina seeking damages for losses allegedly suffered by holders of Argentine bonds with interest rates based on LIBOR. Deutsche Bank is defending this action. SIBOR and SOR. GBP LIBOR. CHF LIBOR. Spanish EURIBOR Claims. € 1 million 10 % Investigations Into Referral Hiring Practices and Certain Business Relationships and Precious Metals. U.S. $ 16 million U.S. $ 80 million U.S. $ 8 million U. S. $ 6 million U.S. $ 43 million Jeffrey Epstein Investigations. On July 7, 2020, the New York State Department of Financial Services (DFS) issued a Consent Order, finding that Deutsche Bank violated New York State banking laws in connection with its relationships with three former Deutsche Bank clients, Danske Bank’s Estonia branch, Jeffrey Epstein and FBME Bank, and imposing a U.S. $ 150 million The Group has not established a provision or contingent liability with respect to the Jeffrey Epstein investigations and civil action. The remaining investigations relating to Jeffrey Epstein are understood to be ongoing. Mortgage-Related and Asset-Backed Securities Matters and Investigation. Regulatory and Governmental Matters. Deutsche On December 23, 2016, Deutsche Bank announced that it reached a settlement-in-principle with the DOJ to resolve potential claims related to its RMBS business conducted from 2005 to 2007. The settlement became final and was announced by the DOJ on January 17, 2017. Under the settlement, Deutsche Bank paid a civil monetary penalty of U.S. $ 3.1 billion U.S. $ 4.1 billion In September 2016, Deutsche Bank received administrative subpoenas from the Maryland Attorney General seeking information concerning Deutsche Bank’s RMBS and CDO businesses from 2002 to 2009. On June 1, 2017, Deutsche Bank and the Maryland Attorney General reached a settlement to resolve the matter for U.S. $ 15 million U.S. $ 80 million U.S. $ 4.1 billion On July 8, 2020, the DOJ-appointed monitor released his final report, validating that Deutsche Bank has fulfilled its U.S.$ 4.1 billion consumer relief obligations in its entirety, inclusive of the U.S. $ 80 million The Group has recorded provisions with respect to some of the outstanding regulatory investigations but not others. The Group has not disclosed the amount of these provisions because it has concluded that such disclosure can be expected to seriously prejudice the resolution of these matters. Issuer and Underwriter Civil Litigation. Deutsche Bank is a defendant in a class action relating to its role as one of the underwriters of six RMBS offerings issued by Novastar Mortgage Corporation. No specific damages are alleged in the complaint. The lawsuit was brought by plaintiffs representing a class of investors who purchased certificates in those offerings. The parties reached a settlement to resolve the matter for a total of U.S. $ 165 million Deutsche Bank is a defendant in an action related to RMBS offerings brought by the U.S. Federal Deposit Insurance Corporation (FDIC) as receiver for Citizens National Bank and Strategic Capital Bank (alleging an unspecified amount in damages against all defendants). In this action, the appellate court reinstated claims previously dismissed on statute of limitations grounds and petitions for rehearing and certiorari to the U.S. Supreme Court were denied. On July 31, 2017, the FDIC filed a second amended complaint, which defendants moved to dismiss on September 14, 2017. On October 18, 2019, defendants’ motion to dismiss was denied. Discovery is ongoing. In June 2014, HSBC, as trustee, brought an action in New York state court against Deutsche Bank to revive a prior action, alleging that Deutsche Bank failed to repurchase mortgage loans in the ACE Securities Corp. 2006-SL2 RMBS offering. The revival action was stayed during the pendency of an appeal of the dismissal of a separate action wherein HSBC, as trustee, brought an action against Deutsche Bank alleging breaches of representations and warranties made by Deutsche Bank concerning the mortgage loans in the same offering. On March 29, 2016, the court dismissed the revival action. Plaintiff appealed and on July 8, 2019, plaintiff filed its opening appellate brief. On November 19, 2019, the appellate court affirmed the dismissal. On December 19, 2019, plaintiff filed a motion to appeal to the New York Court of Appeals in the appeals court, which was denied on February 13, 2020. On March 16, 2020, plaintiff petitioned the New York Court of Appeals for leave to appeal, which was granted on September 1, 2020. The appeal has been fully briefed and remains pending. Deutsche Bank is a defendant in cases concerning two RMBS trusts that were brought initially by RMBS investors and subsequently by HSBC, as trustee, in New York state court. The cases allege breaches of loan-level representations and warranties in the ACE Securities Corp. 2006-FM1 and ACE Securities Corp. 2007-ASAP1 RMBS offerings, respectively. Both cases were dismissed on statute of limitations grounds by the trial court on March 28, 2018. Plaintiff appealed the dismissals. On April 25, 2019, the First Department affirmed the dismissals on claims for breach of representations and warranties and for breach of the implied covenant of good faith and fair dealing, but reversed the denial of the motions for leave to file amended complaints alleging failure to notify the trustee of alleged representations and warranty breaches. HSBC filed amended complaints on April 30, 2019, and Deutsche Bank filed its answers on June 3, 2019. Discovery is ongoing. On October 25, 2019, plaintiffs filed two complaints seeking to revive, under Section 205(a) of the New York Civil Practice Law and Rules, the breach of representations and warranties claims as to which dismissal was affirmed in the case concerning ACE 2006-FM1. On December 16, 2019, Deutsche Bank moved to dismiss these actions. In the actions against Deutsche Bank solely as an underwriter of other issuers’ RMBS offerings, Deutsche Bank has contractual rights to indemnification from the issuers, but those indemnity rights may in whole or in part prove effectively unenforceable where the issuers are now or may in the future be in bankruptcy or otherwise defunct. Trustee Civil Litigation. The four lawsuits include actions by (a) the National Credit Union Administration Board (“NCUA”), as an investor in 18 trusts that allegedly suffered total realized collateral losses of more than U.S.$ 3.7 billion; (b) certain CDOs (collectively, “Phoenix Light”) that hold RMBS certificates issued by 43 RMBS trusts, and seeking “hundreds of millions of dollars in damages”; (c) Commerzbank AG, as an investor in 50 RMBS trusts, seeking “hundreds of millions of dollars in losses”; and (d) IKB International, S.A. in Liquidation and IKB Deutsche Industriebank A.G. (collectively, “IKB”), as an investor in 22 RMBS trusts, seeking more than U.S.$ 268 million of damages. In the NCUA case, DBNTC’s motion to dismiss the amended complaint was granted in part and denied in part, dismissing NCUA’s tort claims but preserving its breach-of-contract claims. On January 27, 2021, the court in the IKB case granted in part and denied in part the Trustees’ motion to dismiss, dismissing certain of IKB’s claims but allowing most of its breach of contract and tort claims to go forward; on May 10, 2021, the Trustees filed a notice of appeal regarding certain aspects of that order and, on May 20, 2021, IKB filed a notice of cross-appeal with respect to other aspects of that order. Discovery is ongoing. On February 8, 2022, the court in the Phoenix Light case granted DBNTC’s and DBTCA’s motion for summary judgment, denied Phoenix Light’s motion for summary judgment, and dismissed the action. On February 8, 2022, the court in the Commerzbank case granted in part and denied in part DBNTC’s and DBTCA’s motion for summary judgment, dismissing all of the tort claims and dismissing the breach of contract claim relating to many of the trusts, and denied Commerzbank’s motion for summary judgment in its entirety. The Group has established contingent liabilities with respect to certain of these matters, but the Group has not disclosed the amounts because it has concluded that such disclosure can be expected to seriously prejudice the outcome of these matters. Polish Mortgage Matters. € 250 million 2,000 The Group has established a portfolio provision to cover potential losses from the existing and potential litigation related to mortgage loans in foreign currency. The amount of the portfolio provision is approximately € 165 million Postbank Voluntary Public Takeover Offer . € 25 48.2 million In November 2010, a former shareholder of Postbank, Effecten-Spiegel AG, which had accepted the takeover offer, brought a claim against Deutsche Bank alleging that the offer price was too low and was not determined in accordance with the applicable German laws. The plaintiff alleges that Deutsche Bank had been obliged to make a mandatory takeover offer for all shares in Postbank, at the latest, in 2009 as the voting rights of Deutsche Post AG in Postbank had to be attributed to Deutsche Bank pursuant to Section 30 of the German Takeover Act. Based thereon, the plaintiff alleges that the consideration offered by Deutsche Bank for the shares in Postbank in the 2010 voluntary takeover offer needed to be raised to € 57.25 The Regional Court Cologne (Landgericht) Starting in 2014, additional former shareholders of Postbank, who accepted the 2010 tender offer, brought similar claims as Effecten-Spiegel AG against Deutsche Bank which are pending with the Regional Court Cologne and the Higher Regional Court of Cologne, respectively. On October 20, 2017, the Regional Court Cologne handed down a decision granting the claims in a total of 14 cases which were combined in one proceeding. The Regional Court Cologne took the view that Deutsche Bank was obliged to make a mandatory takeover offer already in 2008 so that the appropriate consideration to be offered in the takeover offer should |
Credit related Commitments and
Credit related Commitments and Contingent Liabilities | 12 Months Ended |
Dec. 31, 2021 | |
Credit related Commitments and Contingent Liabilities [Abstract] | |
Disclosure of commitments and contingent liabilities [text block] | 28 – Irrevocable 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. Irrevocable lending commitments and lending related contingent liabilities in € m. Dec 31, 2021 Dec 31, 2020 Irrevocable lending commitments 177,334 165,643 Revocable lending commitments 49,798 50,233 Contingent liabilities 59,394 47,978 Total 286,525 263,854 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. Other commitments and other contingent liabilities in € m. Dec 31, 2021 Dec 31, 2020 Other commitments 163 144 Other contingent liabilities 77 73 Total 240 217 Government Assistance In the course of its business, the Group regularly applies for and receives government support by means of Export Credit Agency (“ECA”) guarantees covering transfer and default risks for the financing of exports and investments into Emerging Markets and to a lesser extent, developed markets for Structured Trade & Export Finance and short- and medium-term Trade Finance business. Almost all export-oriented states have established such ECAs to support their domestic exporters. The ECAs act in the name and on behalf of the government of their respective country and are either constituted directly as governmental departments or organized as private companies vested with the official mandate of the government to act on its behalf. Terms and conditions of such ECA guarantees are broadly similar due to the fact that most of the ECAs act within the scope of the Organization for Economic Cooperation and Development (“OECD”) consensus rules. The OECD consensus rules, an intergovernmental agreement of the OECD member states, define benchmarks intended to ensure that a fair competition between different exporting nations will take place. In some countries dedicated funding programs with governmental support are offered for ECA-covered financings. The Group makes use of such programs to assist its clients in the financing of exported goods and services. In certain financings, the Group also receives government guarantees from national and international governmental institutions as collateral to support financings in the interest of the respective governments. The majority of such ECA guarantees received by the Group were issued either by Korean Export Credit Agencies (Korea Trade Insurance Corporation and The Export-Import Bank of Korea) acting on behalf of the Republic of Korea, by the Euler-Hermes Kreditversicherungs-AG acting on behalf of the Federal Republic of Germany, by the UK Export Finance Agency acting on behalf of the United Kingdom of Great Britain and Northern Ireland or by the Italian Export Credit Agency (SACE S.p.A.) acting on behalf of the Italian Republic. 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 the German deposit protection amounted to € 1,078.8 million € 915.6 million |
Other Short-Term Borrowings
Other Short-Term Borrowings | 12 Months Ended |
Dec. 31, 2021 | |
Other Short-Term Borrowings [Abstract] | |
Disclosure of Other Short-Term Borrowings [text block] | 29 – in € m. Dec 31, 2021 Dec 31, 2020 Other short-term borrowings: Commercial paper 1,840 1,748 Other 2,194 1,804 Total other short-term borrowings 4,034 3,553 |
Long-Term Debt and Trust Prefer
Long-Term Debt and Trust Preferred Securities | 12 Months Ended |
Dec. 31, 2021 | |
Long-Term Debt and Trust Preferred Securities [Abstract] | |
Disclosure of Long-Term Debt and Trust Preferred Securities [text block] | 30 – Long-Term Debt by Earliest Contractual Maturity in € m. Due in Due in Due in Due in Due in Due after Total Total Senior debt: Bonds and notes: Fixed rate 9,053 11,529 10,179 5,791 9,986 16,909 63,446 66,402 1 Floating rate 3,134 1,373 2,327 3,243 3,234 4,871 18,182 26,990 1 Other 37,217 3,597 6,853 791 752 4,749 53,960 48,103 Subordinated debt: Bonds and notes: Fixed rate 14 33 74 2,623 1,967 2,479 7,191 6,049 Floating rate 0 1,197 21 194 0 0 1,412 1,303 Other 15 103 88 0 42 46 293 316 Total long-term debt 49,434 17,832 19,542 12,643 15,980 29,054 144,485 149,163 1 Prior years' comparatives aligned to presentation in the current year. The Group did not have any defaults of principal, interest or other breaches with respect to its liabilities in 2021 and 2020. Trust Preferred Securities 1 in € m. Dec 31, 2021 Dec 31, 2020 Fixed rate 0 269 Floating rate 528 1,052 Total trust preferred securities 528 1,321 1 Perpetual instruments, redeemable at specific future dates at the Group’s option. |
Maturity Analysis of Financial
Maturity Analysis of Financial Liabilities | 12 Months Ended |
Dec. 31, 2021 | |
Maturity Analysis of the earliest contractual undiscounted cash flows of Financial Liabilities [Abstract] | |
Disclosure of maturity analysis of the earliest contractual undiscounted cash flows of Financial Liabilities [text block] | 31 – Dec 31, 2021 in € m. On demand Due within Due between Due between Due after Noninterest bearing deposits 226,091 0 0 0 0 Interest bearing deposits 169,144 118,909 71,020 12,195 10,015 Trading liabilities 1 54,676 0 0 0 0 Negative market values from derivative financial 1 287,109 0 0 0 0 Financial liabilities designated at fair value 30,911 7,582 16,764 2,249 2,438 Investment contract liabilities 2 0 0 562 0 0 Negative market values from derivative financial 3 0 678 423 286 79 Central bank funds purchased 0 0 0 0 0 Securities sold under repurchase agreements 227 33 40 448 8 Securities loaned 24 0 0 0 0 Other short-term borrowings 2,676 953 607 0 0 Long-term debt 0 36,692 14,770 71,239 31,449 Trust preferred securities 0 0 529 0 0 Lease liabilities 37 142 503 1,750 2,082 Other financial liabilities 78,311 3,225 337 456 12 Off-balance sheet loan commitments 175,114 0 0 0 0 Financial guarantees 24,024 0 0 0 0 Total 4 1,048,344 168,213 105,556 88,623 46,083 1 Trading liabilities and derivatives not qualifying for hedge accounting balances are recorded at fair value. The Group believes that this best represents the cash flow that would have to be paid if these positions had to be closed out. Trading liabilities and derivatives not qualifying for hedge accounting balances are shown within “on demand” which Group’s management believes most accurately reflects the short-term nature of trading activities. The contractual maturity of the instruments may however extend over significantly longer periods. 2 These are investment contracts where the policy terms and conditions result in their redemption value equaling fair value. 3 Derivatives designated for hedge accounting are recorded at fair value and are shown in the time bucket at which the hedged relationship is expected to terminate. 4 The balances in the table do not agree to the numbers in the Group’s balance sheet as the cash flows included in the table are undiscounted. This analysis represents the worst case scenario for the Group if the Group was required to repay all liabilities earlier than expected. The Group believes that the likelihood of such an event occurring is remote. Dec 31, 2020 in € m. On demand Due within Due between Due between Due after Noninterest bearing deposits 220,501 0 0 0 0 Interest bearing deposits 154,777 105,566 64,729 13,815 10,230 Trading liabilities 1 44,289 0 0 0 0 Negative market values from derivative financial 1 327,775 0 0 0 0 Financial liabilities designated at fair value 23,692 16,204 3,451 2,127 2,095 Investment contract liabilities 2 0 0 526 0 0 Negative market values from derivative financial 3 0 354 66 319 541 Central bank funds purchased 0 0 0 0 0 Securities sold under repurchase agreements 1,815 17 0 504 1 Securities loaned 1,697 0 0 0 0 Other short-term borrowings 1,385 919 1,530 0 0 Long-term debt 1 14,430 48,164 68,130 31,637 Trust preferred securities 0 0 1,345 0 0 Lease liabilities 49 128 522 1,804 2,064 Other financial liabilities 86,618 2,565 225 501 16 Off-balance sheet loan commitments 164,843 0 0 0 0 Financial guarantees 20,337 0 0 0 0 Total 4 1,047,779 140,182 120,556 87,200 46,584 1 Trading liabilities and derivatives not qualifying for hedge accounting balances are recorded at fair value. The Group believes that this best represents the cash flow that would have to be paid if these positions had to be closed out. Trading liabilities and derivatives not qualifying for hedge accounting balances are shown within “on demand” which Group’s management believes most accurately reflects the short-term nature of trading activities. The contractual maturity of the instruments may however extend over significantly longer periods. 2 These are investment contracts where the policy terms and conditions result in their redemption value equaling fair value. 3 Derivatives designated for hedge accounting are recorded at fair value and are shown in the time bucket at which the hedged relationship is expected to terminate. 4 The balances in the table do not agree to the numbers in the Group’s balance sheet as the cash flows included in the table are undiscounted. This analysis represents the worst case scenario for the Group if the Group was required to repay all liabilities earlier than expected. The Group believes that the likelihood of such an event occurring is remote. |
Common Shares
Common Shares | 12 Months Ended |
Dec. 31, 2021 | |
Common Shares [Abstract] | |
Common shares [text block] | 32 – Deutsche Bank’s share capital consists of common shares issued in registered form without par value. Under German law, each share represents an equal stake in the subscribed capital. Therefore, each share has a nominal value of € 2.56 Number of shares Issued and Treasury shares Outstanding Common shares, January 1, 2020 2,066,773,131 (671,357) 2,066,101,774 Shares issued under share-based compensation plans 0 0 0 Capital increase 0 0 0 Shares purchased for treasury 0 (35,058,705) (35,058,705) Shares sold or distributed from treasury 0 34,383,896 34,383,896 Common shares, December 31, 2020 2,066,773,131 (1,346,166) 2,065,426,965 Shares issued under share-based compensation plans 0 0 0 Capital increase 0 0 0 Shares purchased for treasury 0 (35,979,884) (35,979,884) Shares sold or distributed from treasury 0 36,647,102 36,647,102 Common shares, December 31, 2021 2,066,773,131 (678,948) 2,066,094,183 There are no issued ordinary shares that have not been fully paid. Shares purchased for treasury mainly consist of shares purchased with the intention of being resold in the short-term as well as held by the Group for a period of time. In addition, the Group has bought back shares for equity compensation purposes. All such transactions were recorded in shareholders’ equity and no revenues and expenses were recorded in connection with these activities. Treasury stock held as of year-end will mainly be used for future share-based compensation. Authorized Capital The Management Board is authorized to increase the share capital by issuing new shares for cash consideration. As of December 31, 2021, Deutsche Bank AG had authorized but unissued capital of € 2,560,000,000 Authorized capital Consideration Pre-emptive rights Expiration date € 512,000,000 Cash May be excluded pursuant to Section 186 (3) sentence 4 of the Stock Corporation Act and may be excluded in so far as it is necessary to grant pre-emptive rights to the holders of option rights, convertible bonds and convertible participatory rights April 30, 2026 € 2,048,000,000 Cash May be excluded in so far as it is necessary to grant pre-emptive rights to the holders of option rights, convertible bonds and convertible participatory rights. April 30, 2026 Conditional Capital The Management Board is authorized to issue once or more than once, participatory notes that are linked with conversion rights or option rights and/or convertible bonds and/or bonds with warrants. The participatory notes, convertible bonds or bonds with warrants may also be issued by affiliated companies of Deutsche Bank AG. For this purpose share capital was increased conditionally upon exercise of these conversion and/or exchange rights or upon mandatory conversion. Conditional capital Purpose of conditional capital Expiration date € 512,000,000 May be used if holders of conversion or option rights that are linked with participatory notes or convertible bonds or bonds with warrants make use of their conversion or option rights or holders with conversion obligations of convertible participatory notes or convertible bonds fulfill their obligation to convert. April 30, 2022 € 51,200,000 May be used to fulfill options that are awarded on or before the expiration date and will only be used to the extent that holders of issued options make use of their right to receive shares and shares are not delivered out of treasury shares April 30, 2022 Dividends The following table presents the amount of dividends proposed or declared for the years ended December 31, 2021, 2020 and 2019, respectively. 2021 2020 2019 Cash dividends declared (in € ) 413,000,000 0 0 Cash dividends declared per common share (in €) 0.20 0.00 0.00 No dividends have been declared since the balance sheet date. |
Employee Benefits
Employee Benefits | 12 Months Ended |
Dec. 31, 2021 | |
Employee Benefits [Abstract] | |
Disclosure of employee benefits [text block] | 33 – The Group made grants of share-based compensation under the DB Equity Plan. This plan represents a contingent right to receive Deutsche Bank common shares after a specified period of time. The award recipient is not entitled to receive dividends during the vesting period of the award. The share awards granted under the terms and conditions of the DB Equity Plan may be forfeited fully or partly if the recipient voluntarily terminates employment before the end of the relevant vesting period (or release period for Upfront Awards). Vesting usually continues after termination of employment in cases such as redundancy or retirement. Deferred share awards are subject to forfeiture provisions and performance conditions until release. In countries where legal or other restrictions hinder the delivery of shares, a cash plan variant of the DB Equity Plan was used for granting awards, and for employees of certain legal entities, deferred equity is replaced with restricted shares due to local regulatory requirements. Please note that this table does not cover awards granted to the Management Board, and from 2018 this table does not cover AIFMD/UCITS MRTs, or DWS Share-Based Compensation Payments, please refer to separate DWS section that covers grants to this population. The following table sets forth the basic terms of these share plans: Grant year(s) Deutsche Bank Equity Plan Vesting schedule Eligibility 2019-2021 Annual Award 1/4: 12 months 1 Select employees as 1/4: 24 months 1 annual performance-based 1/4: 36 months 1 compensation 1/4: 48 months 1 (CB/IB/CRU and InstVV MRTs in an MBU) 2 Annual Award 1/3: 12 months 1 Select employees as 1/3: 24 months 1 annual performance-based 1/3: 36 months 1 compensation (non-CB/IB/CRU) 2 Annual Award 1/5: 12 months 1 Select employees as 1/5: 24 months 1 annual performance-based 1/5: 36 months 1 compensation (Senior Management) 1/5: 48 months 1 1/5: 60 months 1 Retention/New Hire Individual specification Select employees to attract and Annual Award – Upfront Vesting immediately at grant 3 Regulated employees 2017 -2018 Annual Award 1/4: 12 months 1 Select employees as 1/4: 24 months 1 annual performance-based 1/4: 36 months 1 compensation 1/4: 48 months 1 Or cliff vesting after 54 months 1 Members of Senior Leadership Cadre Retention/New Hire Individual specification Select employees to attract and retain the best talent Key Retention Plan (KRP) 4 1/2: 50 months 3 Material Risk Takers (MRTs) 1/2: 62 months 3 Cliff vesting after 43 months Non-Material Risk Takers (non-MRTs) 2016 Key Position Award (KPA) 5 Cliff-vesting after 4 years 3 Select employees as annual retention 1 2 3 4 5 Furthermore, the Group offers a broad-based employee share ownership plan entitled Global Share Purchase Plan (“GSPP”). The GSPP offers employees in specific countries the opportunity to purchase Deutsche Bank shares in monthly installments over one year. At the end of the purchase cycle, the Group matches the acquired stock in a ratio of one to one up to a maximum of ten free shares, provided that the employee remains at Deutsche Bank Group for another year. In total, about 11,838 18 The Group has other local share-based compensation plans, none of which, individually or in the aggregate, are material to the consolidated financial statements. The following table sets out the movements in share award units, including grants under the cash plan variant of the DB Equity Plan. Share units (in thousands) 2021 2020¹ Balance outstanding as of January 01 119,206 169,590 Granted 50,554 45,269 Released (43,206) (32,693) Forfeited (4,537) (62,518) Other movements (200) (441) Balance outstanding as of December 31 121,818 119,206 1 The DB Equity Plan includes awards with share price hurdles under both the Key Position Award and the Key Retention Plan. The share price hurdle condition for both plans was measured during 2020 and was not met. As a result approximately 56 million share units were forfeited. In accordance with IFRS 2 the forfeiture due to a market performance condition did not result in a reversal to the recorded expense. The following table sets out key information regarding awards granted, released and remaining in the year. 2021 2020 Weighted average fair value per award granted in year Weighted average share price at release in year Weighted average remaining contractual life in years Weighted average fair value per award granted in the year Weighted average share price at release in year Weighted average remaining contractual life in years DB Equity Plan € 9.25 € 10.58 2 € 7.20 € 7.79 2 Share-based payment transactions resulting in a cash payment give rise to a liability, which amounted to approximately € 8 million € 8 million The grant volume of outstanding share awards was approximately € 0.9 billion € 0.9 billion € 0.7 billion € 0.7 billion € 0.2 billion € 0.2 billion DWS Share-Based Compensation Plans The DWS Group made grants of share-based compensation under the DWS Equity Plan. This plan represents a contingent right to receive a cash payment by referencing to the value of DWS shares during a specified time period. In September 2018 one-off IPO related awards under the DWS Stock Appreciation Rights (SAR) Plan were granted to all DWS employees. A limited number of DWS senior managers were granted a one-off IPO-related Performance Share Unit (PSU) under the DWS Equity Plan instead. For members of the Executive Board, one-off IPO-related awards under the DWS Equity Plan were granted in January 2019. The DWS SAR Plan represents a contingent right to receive a cash payment equal to any appreciation (or gain) in the value of a set number of notional DWS shares over a fixed period of time. This award does not provide any entitlement to receive DWS shares, voting rights or associated dividends. The DWS Equity Plan is a phantom share plan representing a contingent right to receive a cash payment by referencing to the value of DWS shares during a specified period of time. The award recipient for any share-based compensation plan is not entitled to receive dividends during the vesting period of the award. The share awards granted under the terms and conditions of any share-based compensation plan are forfeited fully or partly if the recipient voluntarily terminates employment before the end of the relevant vesting period (or the end of the retention period for Upfront Awards). Vesting usually continues after termination of employment in cases such as redundancy or retirement. The following table sets forth the basic terms of the DWS share-based plans: Grant year(s) Award Type Vesting schedule Eligibility 2021 Annual Awards 1/4: 12 months 1 Select employees as annual 1/4: 24 months 1 performance-based 1/4: 36 months 1 compensation (InstVV MRTs) 1/4: 48 months 1 Annual Awards 1/3: 12 months 1 Select employees as annual 1/3: 24 months 1 performance-based 1/3: 36 months 1 compensation (non-InstVV MRTs) Annual Awards (Senior Management) 1/5: 12 months 1 Members of the Executive Board 1/5: 24 months 1 1/5: 36 months 1 1/5: 48 months 1 1/5: 60 months 1 Annual Award - Upfront Vesting immediately at grant 1 Regulated employees Retention/New Hire Individual specification Select employees to attract and retain the best talent 2019-2020 Annual Awards 1/3: 12 months 1 Select employees as annual performance-based 1/3: 24 months 1 compensation 1/3: 36 months 1 Annual Awards (Senior Management) 1/5: 12 months 1 Members of the Executive Board 1/5: 24 months 1 1/5: 36 months 1 1/5: 48 months 1 1/5: 60 months 1 Annual Award - Upfront Vesting immediately at grant 1 Regulated employees Retention/New Hire Individual specification Select employees to attract and retain the best talent Performance Share Unit (PSU) Award 1/3: March 2022 1 Members of the Executive Board (one-off IPO related award granted in 2019) 1/3: March 2023 1 1/3: March 2024 1 2018 Retention/New Hire Individual specification Select employees to attract and retain the best talent Performance Share Unit (PSU) Award 1/3: March 2022 1 Select Senior Managers (one-off IPO related award ) 1 1/3: March 2023 1 1/3: March 2024 1 SAR Award (one-off IPO related award) For non-MRTs: 3 all DWS employees 2 For MRTs: 1,3 1 Depending on their individual regulatory status, a six months retention period (AIFMD/UCITS MRTs) or a 12-months retention period (InstVV MRTs) applies after vesting. 2 Unless the employee received PSU Award. 3 In 2020, two Early Exercise windows were offered to non-MRTs leading to accelerated vesting and exercise upon acceptance. For outstanding awards, a 4-year exercise period applies following vesting/retention period. The following table sets out the movements in share award units. DWS Equity Plan DWS SAR Plan 2021 2020 2021 2020 Share units (in thousands) Number of Awards Number of Awards Number of Awards Weighted-average exercise price Number of Awards Weighted-average exercise price Outstanding at beginning of year 2,418 2,040 1,254 € 24.65 2,087 € 24.65 Granted 709 805 0 - 0 - Issued or Exercised (583) (368) (256) € 24.65 (766) € 24.65 Forfeited (110) (54) (14) € 24.65 (52) € 24.65 Expired 0 0 (36) € 24.65 0 - Other Movements (18) (6) 0 € 24.65 (14) € 24.65 Outstanding at end of year 2,415 2,418 948 € 24.65 1,254 € 24.65 Of which, exercisable 0 0 739 - 0 - The following table sets out key information regarding awards granted, released and remaining in the year. 2021 2020 Weighted average fair value per award granted in year Weighted average share price at release/ exercise in year Weighted average remaining contractual life in years Weighted average fair value per award granted in the year Weighted average share price at release/ exercise in year Weighted average remaining contractual life in years DWS Equity Plan € 30.44 € 37.24 2 € 29.07 € 34.88 2 DWS SAR Plan n/a € 39.59 4 n/a € 31.95 5 The fair value of outstanding share-based awards was approximately € 83 million € 85 million € 69 million € 61 million € 29 million € 21 million € 14 million € 25 million The fair value of the DWS SAR Plan awards have been measured using the generalized Black-Scholes model. The liabilities incurred are re-measured at the end of each reporting period until settlement. The principal inputs being the market value on reporting date, discounted for any dividends foregone over the holding periods of the award, and adjustment for expected and actual levels of vesting which includes estimating the number of eligible employees leaving the Group and number of employees eligible for early retirement. The inputs used in the measurement of the fair values at grant date and measurement date of the DWS SAR Plan awards were as follows. Measurement date Measurement date Units (in thousands) 948 1,254 Fair value € 10.99 € 10.68 Share price € 35.48 € 34.80 Exercise price € 24.65 € 24.65 Expected volatility (weighted-average) 32% 33% Expected life (weighted-average) in years 4 5 Expected dividends (% of income) 65% 65% Post-employment Benefit Plans Nature of Plans The Group sponsors a number of post-employment benefit plans on behalf of its employees, both defined contribution plans and defined benefit plans. The Group’s plans are accounted for based on the nature and substance of the plan. Generally, for defined benefit plans the value of a participant’s accrued benefit is based on each employee’s remuneration and length of service; contributions to defined contribution plans are typically based on a percentage of each employee’s remuneration. The rest of this note focuses predominantly on the Group’s defined benefit plans. The Group’s defined benefit plans are primarily described on a geographical basis, reflecting differences in the nature and risks of benefits, as well as in the respective regulatory environments. In particular, the requirements set by local regulators can vary significantly and determine the design and financing of the benefit plans to a certain extent. Key information is also shown based on participant status, which provides a broad indication of the maturity of the Group’s obligations. Dec 31, 2021 in € m. Germany UK U.S. Other Total Defined benefit obligation related to Active plan participants 4,626 632 243 635 6,136 Participants in deferred status 2,535 3,020 564 118 6,237 Participants in payment status 5,936 1,277 544 274 8,031 Total defined benefit obligation 13,097 4,929 1,351 1,027 20,404 Fair value of plan assets 12,642 6,019 1,148 1,079 20,888 Funding ratio (in %) 97 % 122 % 85 % 1 105 % 102 % 1 US Total defined benefit obligation is inclusive of the unfunded US Medicare Plan ( € 170 million 97 % Dec 31, 2020 in € m. Germany UK U.S. Other Total Defined benefit obligation related to Active plan participants 4,950 706 236 648 6,540 Participants in deferred status 2,639 2,876 561 111 6,187 Participants in payment status 5,943 1,335 530 272 8,080 Total defined benefit obligation 13,532 4,917 1,327 1,031 20,807 Fair value of plan assets 12,658 5,705 1,107 987 20,457 Funding ratio (in %) 94 % 116 % 83 % 1 96 % 98 % 1 US Total defined benefit obligation is inclusive of the unfunded US Medicare Plan ( € 168 million 96 % The majority of the Group’s defined benefit plan obligations relate to Germany, the United Kingdom and the United States. Within the other countries, the largest obligation relates to Switzerland. In Germany and some continental European countries, post-employment benefits are usually agreed on a collective basis with respective employee workers councils, unions or their equivalent. The Group’s main pension plans are governed by boards of trustees, fiduciaries or their equivalent. Post-employment benefits can form an important part of an employee’s total remuneration. The Group’s approach is that their design shall be attractive to employees in the respective market, but sustainable for the Group to provide over the longer term. At the same time, the Group tries to limit its risks related to provision of such benefits. Consequently, the Group has moved to offer defined contribution plans in many locations over recent years. In the past the Group typically offered pension plans based on final pay prior to retirement. These types of benefits still form a significant part of the pension obligations for participants in deferred and payment status. Currently, in Germany and the United States, the main defined benefit pension plans for active staff are cash account type plans where the Group credits an annual amount to individual accounts based on an employee’s current compensation. Dependent on the plan rules, the accounts increase either at a fixed interest rate or participate in market movements of certain underlying investments to limit the investment risk for the Group. Sometimes, in particular in Germany, there is a guaranteed benefit amount within the plan rules, e.g. payment of at least the amounts contributed. Upon retirement, beneficiaries may usually opt for a lump sum, a fixed number of annual instalments or for conversion of the accumulated account balance into a life annuity. This conversion is often based on market conditions and mortality assumptions at retirement. The Group also sponsors retirement and termination indemnity plans in several countries, as well as some post-employment medical plans for a number of current and retired employees, mainly in the United States. The post-employment medical plans typically pay fixed percentages of medical expenses of eligible retirees after a set deductible has been met. In the United States, once a retiree is eligible for Medicare, the Group contributes to a Health Reimbursement Account and the retiree is no longer eligible for the Group’s medical program. The Group’s total defined benefit obligation for post-employment medical plans was € 201 million € 202 million The following amounts of expected benefit payments from the Group’s defined benefit plans include benefits attributable to employees’ past and estimated future service and include both amounts paid from the Group’s external pension trusts and paid directly by the Group in respect of unfunded plans. in € m. Germany UK U.S. Other Total Actual benefit payments 2021 477 134 87 67 765 Benefits expected to be paid 2022 515 235 78 66 894 Benefits expected to be paid 2023 523 133 79 64 799 Benefits expected to be paid 2024 542 143 80 67 832 Benefits expected to be paid 2025 560 161 81 63 865 Benefits expected to be paid 2026 577 165 83 63 888 Benefits expected to be paid 2027 – 2031 3,119 961 410 323 4,813 Weighted average duration of defined benefit 14 20 11 12 15 In Germany, the Group is a member of the BVV Versicherungsverein des Bankgewerbes a.G. (BVV) together with other financial institutions. The BVV offers retirement benefits to eligible employees in Germany as a complement to post-employment benefit promises of the Group. Both employers and employees contribute on a regular basis to the BVV. The BVV provides annuities of a fixed amount to individuals on retirement and increases these fixed amounts if surplus assets arise within the plan. According to legislation in Germany, the employer is ultimately liable for providing the benefits to its employees. An increase in benefits may also arise due to additional obligations to retirees for the effects of inflation. BVV is a multi-employer defined benefit plan. However, in line with industry practice, the Group accounts for it as a defined contribution plan since insufficient information is available to identify assets and liabilities relating to the Group’s current and former employees, primarily because the BVV does not fully allocate plan assets to beneficiaries nor to member companies. Governance and Risk The Group maintains a Pensions Committee to oversee its pension and related risks on a global basis. This Committee meets quarterly and reports directly to the Senior Executive Compensation Committee. Within this context, the Group develops and maintains guidelines for governance and risk management, including funding, asset allocation and actuarial assumption setting. During and after acquisitions or changes in the external environment (e.g., legislation, taxation), topics such as the general plan design or potential plan amendments are considered. Any plan changes follow a process requiring approval by Group Human Resources and, above a certain threshold, also of the Pensions Committee. Pension risk management is embedded in the Group’s risk management organization, with strong focus on market risks given importance of capital market developments (e.g., interest rate, credit spread, price inflation) for the value of plan assets and liabilities, hence IFRS and regulatory capital. Risk management thereby encompasses regular measurement, monitoring and reporting of risks via specific metrics, as well as a risk control framework, e.g. via the establishment of risk limits or thresholds as applicable. Risk management activities also include the consideration, review and measurement of other financial risks, e.g. risks from demographic and other actuarial assumptions (e.g., longevity risk) but also the assessment of model, valuation and other non-financial risks. In the Group’s key pension countries, the Group’s largest post-employment benefit plan risk exposures relate to potential changes in credit spreads, interest rates, price inflation and longevity, that are partially mitigated through the investment strategy adopted. To the extent that pension plans are funded, the assets held mitigate some of the liability risks, but introduce investment risk. Overall, the Group seeks to minimize the impact of pensions on the Group’s financial position from market movements, subject to balancing the trade-offs involved in financing post-employment benefits, regulatory capital and constraints from local funding or accounting requirements. Funding The Group maintains various external pension trusts to fund the majority of its defined benefit plan obligations. The Group’s funding principle is to maintain funding of the defined benefit obligation by plan assets within a range of 90 % 100 % For many of the externally funded defined benefit plans there are local minimum funding requirements. The Group can decide on any additional plan contributions, with reference to the Group’s funding principle. There are some locations, e.g. the United Kingdom, where the trustees and the Group jointly agree contribution levels. In most countries the Group expects to receive an economic benefit from any plan surpluses of plan assets compared to defined benefit obligations, typically by way of reduced future contributions. Given the relatively high funding level and the investment strategy adopted in the Group’s key funded defined benefit plans, any minimum funding requirements that may apply are not expected to place the Group under any material adverse cash strain in the short term. With reference to the Group’s funding principle, the Group considers not re-claiming benefits paid from the Group’s assets as an equivalent to making cash contributions into the external pension trusts during the year. For post-retirement medical plans, the Group accrues for obligations over the period of employment and pays the benefits from Group assets when the benefits become due. Actuarial Methodology and Assumptions December 31 is the measurement date for all plans. All plans are valued by independent qualified actuaries using the projected unit credit method. A Group policy provides guidance to ensure consistency globally on setting actuarial assumptions which are finally determined by the Group’s Pensions Committee. Senior management of the Group is regularly informed of movements and changes in key actuarial assumptions. The key actuarial assumptions applied in determining the defined benefit obligations at December 31 are presented below in the form of weighted averages. Dec 31, 2021 Dec 31, 2020 Germany UK U.S. 1 Other Germany UK U.S. 1 Other Discount rate (in %) 1.10 % 1.86 % 2.73 % 1.92 % 0.60 % 1.26 % 2.31 % 1.51 % Rate of price inflation (in %) 2.19 % 3.73 % 2.30 % 1.88 % 1.29 % 3.22 % 2.10 % 1.54 % Rate of nominal increase in 2.42 % 4.23 % 2.40 % 2.69 % 1.79 % 3.72 % 2.20 % 2.57 % Rate of nominal increase for 2.10 % 3.49 % 2.30 % 1.05 % 1.19 % 3.08 % 2.10 % 0.86 % Assumed life expectancy For a male aged 65 21.3 23.5 21.9 22.0 21.2 23.5 21.8 22.0 For a female aged 65 23.5 25.1 23.3 24.0 23.5 25.0 23.2 24.2 For a male aged 45 22.6 24.6 23.3 23.4 22.5 24.5 23.2 23.3 For a female aged 45 24.6 26.5 24.7 25.4 24.6 26.4 24.5 25.6 Mortality tables applied Modified SAPS (S3) PRI-2012 Country Modified SAPS (S3) PRI-2012 Country 1 Cash balance interest crediting rate in line with the 30-year US government bond yield For the Group’s most significant pension plans in the key countries, the discount rate used at each measurement date is set based on a high quality corporate bond yield curve, which is derived using a bond universe sourced from reputable third-party market data providers, and reflects the timing, amount and currency of the future expected benefit payments for the respective plan. In Q4 2021, a revised discount curve methodology that provides improved data quality for the determination of the underlying bond universe was approved for use in the UK. The adoption of this methodology resulted in around € 45 million The price inflation assumptions in the Eurozone and the United Kingdom are set with reference to market measures of inflation based on inflation swap rates in those markets at each measurement date. For other countries, the price inflation assumptions are typically based on long term forecasts by Consensus Economics Inc. The assumptions for the increases in future compensation levels and for increases to pensions in payment are developed separately for each plan, where relevant. Each is set based on the price inflation assumption and reflecting the Group’s reward structure or policies in each market, as well as relevant local statutory and plan-specific requirements. Among other assumptions, mortality assumptions can be significant in measuring the Group’s obligations under its defined benefit plans. These assumptions have been set in accordance with current best estimate in the respective countries. Future potential improvements in longevity have been considered and included where appropriate. In the financial year ended December 31, 2020, the Group recognized a € 48 million Reconciliation in Movement of Liabilities and Assets – Impact on Financial Statements 2021 in € m. Germany UK U.S. Other Total Change in the present value of the defined benefit obligation: Balance, beginning of year 13,532 4,917 1,327 1,031 20,807 Defined benefit cost recognized in Profit & Loss Current service cost 177 23 10 40 250 Interest cost 80 63 31 16 190 Past service cost and gain or loss arising from settlements 28 (15) 0 (1) 12 Defined benefit cost recognized in Other Comprehensive Income Actuarial gain or loss arising from changes in financial (319) (220) (50) (21) (610) Actuarial gain or loss arising from changes in demographic assumptions 0 (5) 3 (14) (16) Actuarial gain or loss arising from experience 75 (16) 20 1 80 Cash flow and other changes Contributions by plan participants 1 0 0 14 15 Benefits paid (477) (134) (87) (67) (765) Payments in respect to settlements 0 0 0 0 0 Acquisitions/Divestitures 0 0 0 0 0 Exchange rate changes 0 316 97 28 441 Other 0 0 0 0 0 Balance, end of year 13,097 4,929 1,351 1,027 20,404 thereof: Unfunded 0 14 197 90 301 Funded 13,097 4,915 1,154 937 20,103 Change in fair value of plan assets: Balance, beginning of year 12,658 5,705 1,107 987 20,457 Defined benefit cost recognized in Profit & Loss Interest income 76 74 26 14 190 Defined benefit cost recognized in Other Comprehensive Income Return from plan assets less interest income 243 5 7 46 301 Cash flow and other changes Contributions by plan participants 1 0 0 14 15 Contributions by the employer 141 0 4 32 177 Benefits paid 1 (477) (134) (75) (52) (738) Payments in respect to settlements 0 0 0 0 0 Acquisitions/Divestitures 0 0 0 0 0 Exchange rate changes 0 374 82 39 495 Other 0 0 0 0 0 Plan administration costs 0 (5) (3) (1) (9) Balance, end of year 12,642 6,019 1,148 1,079 20,888 Funded status, end of year (455) 1,090 (203) 52 484 Change in irrecoverable surplus (asset ceiling) Balance, beginning of year 0 0 0 (38) (38) Interest cost 0 0 0 0 0 Changes in irrecoverable surplus 0 0 0 (48) (48) Exchange rate changes 0 0 0 (4) (4) Balance, end of year 0 0 0 (90) (90) Net asset (liability) recognized (455) 1,090 (203) (38) 394 2 1 For funded plans only. 2 Thereof € 1,207 million € 813 million 2020 in € m. Germany UK U.S. Other Total Change in the present value of the defined benefit obligation: Balance, beginning of year 13,270 4,687 1,418 1,043 20,418 Defined benefit cost recognized in Profit & Loss Current service cost 200 28 12 42 282 Interest cost 122 85 43 18 268 Past service cost and gain or loss arising from settlements (22) 1 11 0 0 (11) Defined benefit cost recognized in Other Comprehensive Income Actuarial gain or loss arising from changes in financial 536 600 75 39 1,250 Actuarial gain or loss arising from changes in demographic 110 (11) (9) 2 92 Actuarial gain or loss arising from experience (73) (68) 3 (14) (152) Cash flow and other changes Contributions by plan participants 4 0 0 15 19 Benefits paid (456) (160) (96) (80) (792) Payments in respect to settlements 0 0 0 0 0 Acquisitions/Divestitures (158) 2 0 0 0 (158) Exchange rate changes 0 (255) (119) (36) (410) Other (1) 0 0 2 1 Balance, end of year 13,532 4,917 1,327 1,031 20,807 thereof: Unfunded 0 15 195 105 315 Funded 13,532 4,902 1,132 926 20,492 Change in fair value of plan assets: Balance, beginning of year 11,915 5,615 1,143 982 19,655 Defined benefit cost recognized in Profit & Loss Interest income 111 101 34 17 263 Defined benefit cost recognized in Other Comprehensive Income Return from plan assets less interest income 777 456 60 42 1,335 Cash flow and other changes Contributions by plan participants 4 0 0 15 19 Contributions by the employer 444 0 56 28 528 Benefits paid 3 (456) (159) (84) (65) (764) Payments in respect to settlements 0 0 0 0 0 Acquisitions/Divestitures (137) 2 0 0 0 (137) Exchange rate changes 0 (303) (99) (31) (433) Other 0 0 0 0 0 Plan administration costs 0 (5) (3) (1) (9) Balance, end of year 12,658 5,705 1,107 987 20,457 Funded status, end of year (874) 788 (220) (44) (350) Change in irrecoverable surplus (asset ceiling) Balance, beginning of year 0 0 0 (40) (40) Interest cost 0 0 0 0 0 Changes in irrecoverable surplus 0 0 0 2 2 Exchange rate changes 0 0 0 0 0 Balance, end of year 0 0 0 (38) (38) Net asset (liability) recognized (874) 788 (220) (82) (388) 4 1 Contains a past service credit of € 48 million due to the introduction of a capital option for a specific plan sponsored by former Postbank 2 Postbank Systems AG 3 For funded plans only. 4 Thereof € 877 million recognized in Other assets and € 1,265 million in Other liabilities There are no reimbursement rights for the Group. Investment Strategy The Group’s investment objective is to protect the Group from adverse impacts of its defined benefit pension plans on key financial metrics. The primary focus is to protect the plans’ IFRS funded status in the case of adverse market scenarios. In 2021, there has been a shift in the investment strategy in selected markets to balance competing key financial metrics. Investment managers manage pension assets in line with investment mandates or guidelines as agreed with the pension plans’ trustees and investment committees. For key defined benefit plans for which the Group aims to protect the IFRS funded status, the Group applies a liability driven investment (LDI) approach. Risks from mismatches between fluctuations in the present value of the defined benefit obligations and plan assets due to capital market movements are minimized, subject to balancing relevant trade-offs. This is achieved by allocating plan assets closely to the market risk factor exposures of the pension liability to interest rates, credit spreads and inflation. Thereby, plan assets broadly reflect the underlying risk profile and currency of the pension obligations. Where the desired hedging level for market risks cannot be achieved with physical instruments (i.e., corporate and government bonds), derivatives are employed. Derivative overlays mainly include interest rate, inflation swaps and credit default swaps. Other instruments are also used, such as interest rate futures and options. In practice, a completely hedged approach is impractical, for instance because of insufficient market depth for ultra-long-term corporate bonds, as well as liquidity and cost considerations. Therefore, plan assets contain further return-seeking asset categories such as equity, real estate, high yield bonds or emerging markets bonds to create long-term value and achieve diversification benefits. In 2020, the Group entered into two buy-in transactions with a third party insurer to de-risk € 1.2 billion of exposure to the UK defined benefit pension schemes funded from existing assets, with no additional employer contribution required. The recognition of the insurance policies as qualifying plan assets in Q1 and Q4 negatively impacted Other Comprehensive Income in the Group’s financial statement by approximately € 115 million and € 60 million, respectively. Plan asset allocation to key asset classes The following table shows the asset allocation of the Group’s funded defined benefit plans to key asset classes, i.e. exposures include physical securities in discretely managed portfolios and underlying asset allocations of any commingled funds used to invest plan assets. Asset amounts in the following table include both “quoted” (i.e., Level 1 assets in accordance with IFRS 13 – amounts invested in markets where the fair value can be determined directly from prices which are quoted in active, liquid markets) and “other” (i.e., Level 2 and 3 assets in accordance with IFRS 13) assets. Dec 31, 2021 Dec 31, 2020 in € m. Germany UK U.S. Other Total Germany UK U.S. Other Total Cash and cash equivalents 930 321 56 78 1,385 290 504 67 57 918 Equity instruments 1 1,220 348 151 209 1,928 899 609 126 57 1,691 Investment-grade bonds 2 Government 2,524 1,918 436 207 5,085 2,829 1,048 422 167 4,466 Non-government bonds 5,386 1,894 379 336 7,995 6,144 2,034 387 258 8,823 Non-investment-grade bonds Government 137 1 1 1 140 99 2 1 18 120 Non-government bonds 423 142 33 55 653 236 107 37 28 408 Securitized and other Debt Investments 839 124 79 7 1,049 1 122 73 0 196 Insurance 1 1,256 0 10 1,267 1 1,248 0 13 1,262 Alternatives Real estate 5 |
Income Taxes
Income Taxes | 12 Months Ended |
Dec. 31, 2021 | |
Income Taxes [Abstract] | |
Disclosure of income tax [text block] | 34 – in € m. 2021 2020 2019 Current tax expense (benefit): Tax expense (benefit) for current year 847 739 757 Adjustments for prior years 14 (46) 5 Total current tax expense (benefit) 861 693 762 Deferred tax expense (benefit): Origination and reversal of temporary differences, unused tax losses and tax credits 108 (224) (71) Effect of changes in tax law and/or tax rate (26) (11) (9) Adjustments for prior years (20) (67) 1,948 Total deferred tax expense (benefit) 62 (302) 1,868 Total income tax expense (benefit) 923 391 2,630 € 242 million € 96 million € 2,785 million Difference between applying German statutory (domestic) income tax rate and actual income tax expense/(benefit) in € m. 2021 2020 2019 Expected tax expense (benefit) at domestic income tax rate of 31.3% (31.3% for 2020 and 31.3% for 2019) 1,101 314 (825) Foreign rate differential (89) (39) 170 Tax-exempt gains on securities and other income (183) (181) (191) Loss (income) on equity method investments (11) (18) (19) Nondeductible expenses 287 293 326 Impairments of goodwill 1 0 269 Changes in recognition and measurement of deferred tax assets 1 (227) 96 2,785 Effect of changes in tax law and/or tax rate (26) (11) (9) Effect related to share-based payments 1 (29) 54 Other 1 69 (34) 70 Actual income tax expense (benefit) 923 391 2,630 1 Current and deferred tax expense/(benefit) relating to prior years are mainly reflected in the line items “Changes in recognition and measurement of deferred tax assets” and “Other”. The Group is under continuous examinations by tax authorities in various jurisdictions. “Other” in the preceding table includes the effects of these examinations by the tax authorities. The domestic income tax rate, including corporate tax, solidarity surcharge, and trade tax, used for calculating deferred tax assets and liabilities was 31.3 % Income taxes credited or charged to equity (other comprehensive income/additional paid in capital) in € m. 2021 2020 2019 Actuarial gains (losses) related to defined benefit plans (207 ) 76 402 Net fair value gains (losses) attributable to credit risk related to financial 5 6 1 Financial assets mandatory at fair value through other comprehensive income: Unrealized net gains (losses) arising during the period 111 (204) (42) Realized net gains (losses) arising during the period (reclassified to profit or loss) 68 84 71 Derivatives hedging variability of cash flows: Unrealized net gains (losses) arising during the period (2) 4 1 Net gains (losses) reclassified to profit or loss 15 (1) 1 Other equity movement: Unrealized net gains (losses) arising during the period 88 (19) 162 Net gains (losses) reclassified to profit or loss 6 14 0 Income taxes credited (charged) to other comprehensive income 84 (40) 596 Other income taxes credited (charged) to equity 45 11 (11) Major components of the Group’s gross deferred tax assets and liabilities in € m. Dec 31, 2021 Dec 31, 2020 Deferred tax assets: Unused tax losses 1,653 1,476 Unused tax credits 2 0 Deductible temporary differences: Trading activities, including derivatives 1,869 2,905 Employee benefits, including equity settled share based payments 2,533 2,457 Accrued interest expense 1,428 1,122 Loans and borrowings, including allowance for loans 892 1,069 Leases 857 806 Intangible Assets 52 214 Fair value OCI (IFRS 9) 53 1 Other assets 515 560 Other provisions 110 122 Other liabilities 10 4 Total deferred tax assets pre offsetting 9,974 10,736 Deferred tax liabilities: Taxable temporary differences: Trading activities, including derivatives 1,770 2,658 Employee benefits, including equity settled share based payments 296 183 Loans and borrowings, including allowance for loans 538 501 Leases 774 712 Intangible Assets 501 560 Fair value OCI (IFRS 9) 76 144 Other assets 214 350 Other provisions 82 79 Other liabilities 41 47 Total deferred tax liabilities pre offsetting 4,292 5,234 Deferred tax assets and liabilities, after offsetting in € m. Dec 31, 2021 Dec 31, 2020 Presented as deferred tax assets 6,180 6,063 Presented as deferred tax liabilities 498 561 Net deferred tax assets 5,682 5,502 The change in the balance of deferred tax assets and deferred tax liabilities might not equal the deferred tax expense/(benefit). In general, this is due to (1) deferred taxes that are booked directly to equity, (2) the effects of exchange rate changes on tax assets and liabilities denominated in currencies other than euro, (3) the acquisition and disposal of entities as part of ordinary activities and (4) the reclassification of deferred tax assets and liabilities which are presented on the face of the balance sheet as components of other assets and liabilities. Items for which no deferred tax assets were recognized in € m. Dec 31, 2021¹ Dec 31, 2020¹ Deductible temporary differences (988) (2,204) Not expiring (10,331) (9,982) Expiring in subsequent period 0 (138) Expiring after subsequent period (5,811) (4,702) Unused tax losses (16,142) (14,822) Expiring after subsequent period (20) (56) Unused tax credits (21) (58) 1 Amounts in the table refer to deductible temporary differences, unused tax losses and tax credits for federal income tax purposes. Deferred tax assets were not recognized on these items because it is not probable that future taxable profit will be available against which the unused tax losses, unused tax credits and deductible temporary differences can be utilized. As of December 31, 2021 and December 31, 2020, the Group recognized deferred tax assets of € 5.4 billion € 5.1 billion As of December 31, 2021 and December 31, 2020, the Group had temporary differences associated with the Group’s parent company’s investments in subsidiaries, branches and associates and interests in joint ventures of € 242 million € 254 million |
Derivatives
Derivatives | 12 Months Ended |
Dec. 31, 2021 | |
Derivatives [Abstract] | |
Disclosure of derivative financial instruments [text block] | 35 – Derivative financial instruments and hedging activities Derivative contracts used by the Group include swaps, futures, forwards, options and other similar types of contracts. In the normal course of business, the Group enters into a variety of derivative transactions for sales, market-making and risk management purposes. The Group’s objectives in using derivative instruments are to meet customers’ risk management needs and to manage the Group’s exposure to risks. Derivatives held for sales and market-making purposes Sales and market-making The majority of the Group’s derivatives transactions relate to sales and market-making activities. Sales activities include the structuring and marketing of derivative products to customers to enable them to take, transfer, modify or reduce current or expected risks. Market-making involves quoting bid and offer prices to other market participants, enabling revenue to be generated based on spreads and volume. Risk management The Group uses derivatives in order to reduce its exposure to market risks as part of its asset and liability management. This is achieved by entering into derivatives that hedge specific portfolios of fixed rate financial instruments and forecast transactions as well as strategic hedging against overall balance sheet exposures. The Group actively manages interest rate risk through, among other things, the use of derivative contracts. Utilization of derivative financial instruments is modified from time to time within prescribed limits in response to changing market conditions, as well as to changes in the characteristics and mix of the related assets and liabilities. The Group applies hedge accounting if derivatives meet the specific criteria described in Note 1 “Significant Accounting Policies and Critical Accounting Estimates”. In fair value hedge relationship, the Group uses primarily interest rate swaps and options, in order to protect itself against movements in the fair value of fixed-rate financial instruments due to movements in market interest rates. In a cash flow hedge relationship, the Group uses interest rate swaps in order to protect itself against exposure to variability in interest rates. The Group enters into foreign exchange forwards and swaps for hedges of translation adjustments resulting from translating the financial statements of net investments in foreign operations into the reporting currency of the parent at period end spot rates. Interest rate risk The Group uses interest rate swaps and options to manage its exposure to interest rate risk by modifying the re-pricing characteristics of existing and/or forecasted assets and liabilities, including funding and investment activities. The interest rate swaps and options are designated in either a fair value hedge or a cash flow hedge. For fair value hedges, the Group uses interest rate swaps and options contracts to manage the fair value movements of fixed rate financial instruments due to changes in benchmark interest. For cash flow hedges, we use interest rate swaps to manage the exposure to cash flow variability of our variable rate instruments as a result of changes in benchmark interest rates. The Group manages its interest rate risk exposure on a portfolio basis with frequent changes in the portfolio due to the origination of new loans and bonds, repayments of existing loans and bonds, issuance of new funding liabilities and repayment of existing funding liabilities. Accordingly, a dynamic hedging accounting approach is adopted for the portfolio, in which individual hedge relationships are designated and de-designated on a more frequent basis (e.g. on a monthly basis). The Group assesses and measures hedge effectiveness of a hedging relationship based on the change in the fair value or cash flows of the derivative hedging instrument relative to the change in the fair value or cash flows of the hedged item attributable to the hedged risk. Potential sources of ineffectiveness can be attributed to differences between hedging instruments and hedged items: – – – Foreign exchange risk The Group manages its foreign currency risk (including U.S. dollar and British pound) from investments in foreign operation through net investment hedges using a combination of foreign exchange forwards and swaps as hedging instruments. As the investments in foreign operations are only hedged to the extent of the notional amount of the hedging derivative instrument the Group generally does not expect to incur significant ineffectiveness on hedges of net investments in foreign operations. Potential sources of ineffectiveness are limited to situations where derivatives with a non-zero fair value at inception date of the hedging relationship are used as hedging instrument, or where the spot foreign currency risk has been designated as hedged risk, resulting in mismatch in terms with the hedged item. Hedge Accounting and Interest Rate Benchmarks The table below shows the Group’s Hedge accounting relationships impacted by the IASB Benchmark Reform amendments Dec 31, 2021 Dec 31, 2020 in € m. Notional Notional Fair value hedge CHF LIBOR 0 493 GBP LIBOR 0 2,073 JPY LIBOR 0 1,383 USD LIBOR 20,298 20,877 Derivatives held as fair value hedges Dec 31, 2021 2021 Dec 31, 2020 2020 in € m. Assets Liabilities Nominal Fair Value Assets Liabilities Nominal Fair Value Derivatives held as fair value hedges 3,713 1,000 78,176 (1,454) 5,845 1,362 87,937 882 2021 2020 in € m. Hedge Hedge Result of fair value hedges 139 (175) Financial instruments designated as fair value hedges Dec 31, 2021 2021 Carrying amount of Financial Accumulated amount of Accumulated amount of Fair Value in € m. Assets Liabilities Assets Liabilities Assets Liabilities Financial assets at fair value through 12,397 0 (221) 0 4 0 (724) Bonds at amortized cost 582 0 5 0 2 0 (12) Long-term debt 0 62,294 0 1,595 0 302 2,329 Deposits 0 0 0 0 0 0 0 Loans at amortized cost 0 0 0 0 0 0 0 Dec 31, 2020 2020 Carrying amount of Financial Accumulated amount of Accumulated amount of Fair Value in € m. Assets Liabilities Assets Liabilities Assets Liabilities Financial assets at fair value through 25,568 0 100 0 2 0 12 Bonds at amortized cost 831 0 22 0 4 0 63 Long-term debt 0 57,883 0 4,196 0 629 (1,132) Deposits 0 0 0 0 0 0 0 Loans at amortized cost 0 0 0 0 0 0 0 Cash flow hedge accounting Derivatives held as cash flow hedges Dec 31, 2021 2021 Dec 31, 2020 2020 in € m. Assets Liabilities Nominal Fair Value Assets Liabilities Nominal Fair Value Derivatives held as cash flow hedges 49 43 7,451 (75) 79 0 6,171 (14) Cash flow hedge balances in € m. Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Reported in Equity 1 (42) 11 21 thereof relates to terminated programs 0 0 0 Gains (losses) posted to equity for the year ended 1 (14) (2) Gains (losses) removed from equity for the year ended (54) 4 (2) thereof relates to terminated programs 0 0 0 Changes of hedged item's value used for hedge effectiveness 66 (7) 0 Ineffectiveness recorded within P&L 25 (12) 0 1 Reported in equity refers to accumulated other comprehensive income as presented in the Consolidated Balance Sheet. In accordance with IAS 39.96 the gains and losses posted to equity in a cash flow hedge relationship is the lesser of cumulative gain or loss on the hedging instrument from the inception of the hedge and the cumulative change in fair value of the expected future cash flows on the hedged item from inception of the hedge. As a result, changes of the hedged item’s value used for hedge effectiveness are not fully recorded in equity if it exceeds the hedging instrument’s fair value changes used for hedge effectiveness. Consequently, hedge ineffectiveness recorded within P&L does not always reconcile to the difference between the changes of the hedged item’s value used for hedge effectiveness and the hedging instrument’s fair value changes used for hedge effectiveness. As of December 31, 2021 the longest term cash flow hedge matures in 2025. The financial instruments designated as cash flow hedges are recognized as Loans at amortized cost in the Group’s Consolidated Balance Sheet. Net investment hedge accounting Derivatives held as net investment hedges Dec 31, 2021 2021 Dec 31, 2020 2020 in € m. Assets Liabilities Nominal amount Fair Value Assets Liabilities Nominal amount Fair Value Derivatives held as net investment hedges 227 1,093 39,087 (1,707) 1,617 408 40,277 1,933 2021 2020 in € m. Fair value changes 1 Hedge Fair value changes 1 Hedge Result of net investment hedges 1,892 (179) (1,415) (186) 1 Reported in equity refers to accumulated other comprehensive income as presented in the Consolidated Balance Sheet. Profile of derivatives held as net investment hedges in € m. Within 1 year 1–3 years 3–5 years Over 5 years As of December 31, 2021 Nominal amount Foreign exchange forwards 38,965 103 16 3 Nominal amount Foreign exchange swaps 0 0 0 0 Total 38,965 103 16 3 As of December 31, 2020 Nominal amount Foreign exchange forwards 40,217 60 0 0 Nominal amount Foreign exchange swaps 0 0 0 0 Total 40,217 60 0 0 The Group uses a foreign exchange forward strategy. As indicated in the above table, the vast majority of forward contracts mature within the year. The Group did not calculate an average foreign currency rate because the amount of contracts that mature after 1 year are not material. |
Related Party Transactions
Related Party Transactions | 12 Months Ended |
Dec. 31, 2021 | |
Related Party Transactions [Abstract] | |
Disclosure of related party [text block] | 36 – Parties are considered to be related if one party has the ability to directly or indirectly control the other party or exercise significant influence over the other party in making financial or operational decisions. The Group’s related parties include: – – – Key management personnel are those persons having authority and responsibility for planning, directing and controlling the activities of Deutsche Bank, directly or indirectly. The Group considers the members of the Management Board and of the Supervisory Board of the parent company to constitute key management personnel for purposes of IAS 24. Compensation expense of key management personnel in € m. 2021 2020 2019 Short-term employee benefits 36 30 32 Post-employment benefits 7 7 6 Other long-term benefits 10 2 6 Termination benefits 6 0 34 Share-based payment 15 8 21 Total 74 47 99 The above table does not contain compensation that employee representatives and former board members on the Supervisory Board have received. The aggregated compensation paid to such members for their services as employees of Deutsche Bank or status as former employees (retirement, pension and deferred compensation) amounted to € 1 million € 1 million € 1 million Among the Group’s transactions with key management personnel as of December 31, 2021 were loans and commitments of € 8 million € 13 million € 8 million € 21 million In addition, the Group provides banking services, such as payment and account services as well as investment advice, to key management personnel. 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 in € m. 2021 2020 Loans outstanding, beginning of year 214 228 Net movement in loans during the period 159 (19) Changes in the group of consolidated companies 0 0 Exchange rate changes/other (193) 5 Loans outstanding, end of year 1 181 214 Other credit risk related transactions: Allowance for loan losses 0 0 Provision for loan losses 0 0 Guarantees and commitments 28 42 1 Loans past due were € 0 million € 0 million € 0 million € 5 million Deposits in € m. 2021 2020 Deposits outstanding, beginning of year 49 58 Net movement in deposits during the period 14 (8) Changes in the group of consolidated companies 0 0 Exchange rate changes/other 0 (0) Deposits outstanding, end of year 63 49 Trading assets and positive market values from derivative financial transactions with associated companies amounted to € 2 million € 1 million € 0 million € 0 million Other assets related to transactions with associated companies amounted to € 42 million € 55 million € 1 million € 2 million Under IFRS, post-employment benefit plans are considered related parties. The Group has business relationships with a number of its pension plans pursuant to which it provides financial services to these plans, including investment management services. The Group’s pension funds may hold or trade Deutsche Bank shares or securities. Transactions with related party pension plans in € m. 2021 2020 Equity shares issued by the Group held in plan assets 23 1 Other assets 17 24 Fees paid from plan assets to asset managers of the Group 22 24 Market value of derivatives with a counterparty of the Group 765 306 Notional amount of derivatives with a counterparty of the Group 12,309 14,623 |
Information on Subsidiaries
Information on Subsidiaries | 12 Months Ended |
Dec. 31, 2021 | |
Information on Subsidiaries [Abstract] | |
Disclosure of subsidiaries [text block] | 37 – Composition of the Group Deutsche Bank AG is the direct or indirect holding company for the Group’s subsidiaries. The Group consists of 563 628 225 242 376 420 187 208 Subsidiaries with material non-controlling interests Dec 31, 2021 Dec 31, 2020 DWS Group GmbH & Co. KGaA Proportion of ownership interests and voting rights held by non-controlling interests 20.51 % 20.51 % Place of business Global Global in € m Dec 31, 2021 Dec 31, 2020 Net income attributable to non-controlling interests 161 117 Accumulated non-controlling interests of the subsidiary 1,545 1,412 Dividends paid to non-controlling interests 74 69 Summarized financial information: Total assets 11,611 10,448 Total liabilities 4,166 3,685 Total net revenues 2,720 2,237 Net income (loss) 782 558 Total comprehensive income (loss), net of tax 1,064 259 Significant restrictions to access or use the Group’s assets Statutory, contractual or regulatory requirements as well as protective rights of noncontrolling interests might restrict the ability of the Group to access and transfer assets freely to or from other entities within the Group and to settle liabilities of the Group. The following restrictions impact the Group’s ability to use assets: – – – Restricted assets Dec 31, 2021 Dec 31, 2020 in € m. Total Restricted Total Restricted Interest-earning deposits with banks 180,942 196 152,143 153 Financial assets at fair value through profit or loss 491,233 55,325 527,980 52,494 Financial assets at fair value through other comprehensive income 28,979 6,648 55,834 8,110 Loans at amortized cost 472,069 79,764 426,691 78,144 Other 151,482 3,233 162,313 3,316 Total 1,324,705 145,166 1,324,961 142,217 The table above excludes assets that are not encumbered at an individual entity level but which may be subject to restrictions in terms of their transferability within the Group. Such restrictions may be based on local connected lending requirements or similar regulatory restrictions. In this situation, it is not feasible to identify individual balance sheet items that cannot be transferred. This is also the case for regulatory minimum liquidity requirements. The Group identifies the volume of liquidity reserves in excess of local stress liquidity outflows. The aggregate amount of such liquidity reserves that are considered restricted for this purpose is € 25.5 billion € 43.5 billion |
Structured Entities
Structured Entities | 12 Months Ended |
Dec. 31, 2021 | |
Structured Entities [Abstract] | |
Disclosure of Structured entities [text block] | 38 – Nature, purpose and extent of the Group’s interests in structured entities The Group engages in various business activities with structured entities which are designed to achieve a specific business purpose. A structured entity is one that has been set up so that any voting rights or similar rights are not the dominant factor in deciding who controls the entity. An example is when voting rights relate only to administrative tasks and the relevant activities are directed by contractual arrangements. A structured entity often has some or all of the following features or attributes: – – – – The principal uses of structured entities are to provide clients with access to specific portfolios of assets and to provide market liquidity for clients through securitizing financial assets. Structured entities may be established as corporations, trusts or partnerships. Structured entities generally finance the purchase of assets by issuing debt and equity securities that are collateralized by and/or indexed to the assets held by the structured entities. The debt and equity securities issued by structured entities may include tranches with varying levels of subordination. Structured entities are consolidated when the substance of the relationship between the Group and the structured entities indicate that the structured entities are controlled by the Group, as discussed in Note 1 “Significant Accounting Policies and Critical Accounting Estimates”. Consolidated structured entities The Group has contractual arrangements which may require it to provide financial support to the following types of consolidated structured entities. Securitization vehicles The Group uses securitization vehicles for funding purchase of diversified pool of assets. The Group provides financial support to these entities in the form of liquidity facility. As of December 31, 2021, and December 31, 2020, there were no outstanding loan commitments to these entities. Funds The Group may provide funding and liquidity facility or guarantees to funds consolidated by the group. As of December 31, 2021 and December 31, 2020, the notional value of the liquidity facilities and guarantees provided by the Group to such funds was € 1.2 billion € 1.0 billion Deutsche Bank did not provide non-contractual support during the year to consolidated structured entities. Unconsolidated structured entities These are entities which are not consolidated because the Group does not control them through voting rights, contract, funding agreements, or other means. The extent of the Group’s interests to unconsolidated structured entities will vary depending on the type of structured entities. Below is a description of the Group’s involvements in unconsolidated structured entities by type. Repackaging and investment entities Repackaging and investment entities are established to meet clients’ investment needs through the combination of securities and derivatives. These entities are not consolidated by the Group because the Group does not have power to influence the returns obtained from the entities. These entities are usually set up to provide a certain investment return pre-agreed with the investor, and the Group is not able to change the investment strategy or return during the life of the transaction. Third party funding entities The Group provides funding to structured entities that hold a variety of assets. These entities may take the form of funding entities, trusts and private investment companies. The funding is collateralized by the asset in the structured entities. The group’s involvement involves predominantly both lending and loan commitments. The vehicles used in these transactions are controlled by the borrowers where the borrowers have the ability to decide whether to post additional margin or collateral in respect of the financing. In such cases, where borrowers can decide to continue or terminate the financing, the borrowers will consolidate the vehicle. Securitization Vehicles The Group establishes securitization vehicles which purchase diversified pools of assets, including fixed income securities, corporate loans, and asset-backed securities (predominantly commercial and residential mortgage-backed securities and credit card receivables). The vehicles fund these purchases by issuing multiple tranches of debt and equity securities, the repayment of which is linked to the performance of the assets in the vehicles. The Group may transfer assets to these securitization vehicles and provides financial support to these entities in the form of liquidity facilities. The Group also invests and provides liquidity facilities to third party sponsored securitization vehicles. The securitization vehicles that are not consolidated into the Group are those where the Group does not hold the power or ability to unilaterally remove the servicer or special servicer who has been delegated power over the activities of the entity. Funds The Group establishes structured entities to accommodate client requirements to hold investments in specific assets. The Group also invests in funds that are sponsored by third parties. A group entity may act as fund manager, custodian or some other capacity and provide funding and liquidity facilities to both group sponsored and third party funds. The funding provided is collateralized by the underlying assets held by the fund. The Group does not consolidate funds when Deutsche Bank is deemed agent or when another third party investor has the ability to direct the activities of the fund. Other These are Deutsche Bank sponsored or third party structured entities that do not fall into any criteria above. These entities are not consolidated by the Group when the Group does not hold power over the decision making of these entities. Income derived from involvement with structured entities The Group earns management fees and, occasionally, performance-based fees for its investment management service in relation to funds. Interest income is recognized on the funding provided to structured entities. Any trading revenue as a result of derivatives with structured entities and from the movements in the value of notes held in these entities is recognized in ‘Net gains/losses on financial assets/liabilities held at fair value through profit and loss’. Interests in unconsolidated structured entities The Group’s interests in unconsolidated structured entities refer to contractual and non-contractual involvement that exposes the Group to variability of returns from the performance of the structured entities. Examples of interests in unconsolidated structured entities include debt or equity investments, liquidity facilities, guarantees and certain derivative instruments in which the Group is absorbing variability of returns from the structured entities. Interests in unconsolidated structured entities exclude instruments which introduce variability of returns into the structured entities. For example, when the Group purchases credit protection from an unconsolidated structured entity whose purpose and design is to pass through credit risk to investors, the Group is providing the variability of returns to the entity rather than absorbing variability. The purchased credit protection is therefore not considered as an interest for the purpose of the table below. Maximum exposure to unconsolidated structured entities The maximum exposure to loss is determined by considering the nature of the interest in the unconsolidated structured entity. The maximum exposure for loans and trading instruments is reflected by their carrying amounts in the consolidated balance sheet. The maximum exposure for derivatives and off balance sheet commitments such as guarantees, liquidity facilities and loan commitments under IFRS 12, as interpreted by the Group, is reflected by the notional amounts. Such amounts or their development do not reflect the economic risks faced by the Group because they do not take into account the effects of collateral or hedges nor the probability of such losses being incurred. At December 31, 2021, the notional related to the positive and negative replacement values of derivatives and off balance sheet commitments were € 104 billion € 296 billion € 22 billion € 78 billion € 238 billion € 16 billion Size of structured entities The Group provides a different measure for size of structured entities depending on their type. The following measures have been considered as appropriate indicators for evaluating the size of structured entities: – – – – – – – – For Third party funding entities, size information is not publicly available, therefore the Group has disclosed the greater of the collateral the Group has received/pledged or the notional of the exposure the Group has to the entity. Based on the above definitions, the total size of structured entities is € 2,168 billion € 1,251 billion € 1,878 billion € 1,088 billion The following table shows, by type of structured entity, the carrying amounts of the Group’s interests recognized in the consolidated statement of financial position as well as the maximum exposure to loss resulting from these interests. The carrying amounts presented below do not reflect the true variability of returns faced by the Group because they do not take into account the effects of collateral or hedges. Carrying amounts and size relating to Deutsche Bank’s interests Dec 31, 2021 in € m. Repacka- Third Party Securiti- Funds Total Assets Cash and central bank balances 0 0 0 0 0 Interbank balances (w/o central banks) 1 0 0 11 12 Central bank funds sold and securities 0 0 82 1,593 1,675 Securities Borrowed 0 0 0 0 0 Total financial assets at fair value 328 7,860 4,923 44,192 57,303 Trading assets 172 4,825 3,243 3,980 12,220 Positive market values 156 300 9 2,671 3,135 Non-trading financial assets mandatory at fair value through profit or loss 0 2,735 1,671 37,542 41,948 Financial assets designated at fair 0 0 0 0 0 Financial assets at fair value through other comprehensive income 0 298 1,043 530 1,871 Loans at amortized cost 1,089 60,338 26,406 15,245 103,079 Other assets 4 575 3,333 12,202 16,114 Total assets 1,422 69,072 35,787 73,773 180,054 Liabilities Total financial liabilities at fair value 74 185 20 8,721 9,000 Negative market values 74 185 20 8,721 9,000 Other short-term borrowings 0 0 0 0 0 Other liabilities 0 0 0 13 13 Total liabilities 74 185 20 8,734 9,013 Off-balance sheet exposure 0 7,765 10,093 3,683 21,541 Total 1,348 76,652 45,861 68,722 192,582 Dec 31, 2020 in € m. Repacka- Third Party Securiti- Funds Total Assets Cash and central bank balances 0 0 0 0 0 Interbank balances (w/o central banks) 1 0 0 12 13 Central bank funds sold and securities 0 126 0 1,901 2,027 Securities Borrowed 0 0 0 0 0 Total financial assets at fair value 340 6,368 4,428 50,316 61,452 Trading assets 181 4,134 2,408 4,304 11,027 Positive market values 158 154 31 3,635 3,977 Non-trading financial assets mandatory at fair value through profit or loss 0 2,080 1,990 42,377 46,448 Financial assets designated at fair 0 0 0 0 0 Financial assets at fair value through other comprehensive income 0 333 457 270 1,060 Loans at amortized cost 165 46,867 27,638 10,270 84,939 Other assets 51 400 3,065 20,499 24,015 Total assets 557 54,096 35,587 83,267 173,508 Liabilities Total financial liabilities at fair value 92 58 10 11,191 11,351 Negative market values 92 58 10 11,191 11,351 Other short-term borrowings 0 0 0 0 0 Other liabilities 0 0 0 1,815 1,815 Total liabilities 92 58 10 13,006 13,166 Off-balance sheet exposure 0 5,889 8,279 1,944 16,112 Total 466 59,927 43,856 72,205 176,453 Trading assets –Total trading assets as of December 31, 2021 and December 31, 2020 of € 12.2 billion € 11.0 billion € 3.2 billion € 2.4 billion € 4.0 billion € 4.3 billion Non-trading financial assets mandatory at fair value through profit or loss – Reverse repurchase agreements to Funds comprise the majority of the interests in this category and are collateralized by the underlying securities. Loans – Loans as of December 31, 2021 and December 31, 2020 consist of € 103.1 billion € 84.9 billion Other assets – Other assets as of December 31, 2021 and December 31, 2020 of € 16.1 billion € 24.0 billion Pending Receivables – Pending Receivable balances are not included in this disclosure note due to the fact that these balances arise from typical customer supplier relationships out of e.g. brokerage type activities and their inherent volatility would not provide users of the financial statements with effective information about Deutsche Bank’s exposures to structured entities. Financial support Deutsche Bank did not provide non-contractual support during the year to unconsolidated structured entities. Sponsored unconsolidated structured entities where the Group has no interest as of December 31, 2021 and December 31, 2020. As a sponsor, the Group is involved in the legal set up and marketing of the entity and supports the entity in different ways, namely: – – – – The Group is also deemed a sponsor for a structured entity if market participants would reasonably associate the entity with the Group. Additionally, the use of the Deutsche Bank name for the structured entity indicates that the Group has acted as a sponsor. The gross revenues from sponsored entities where the Group did not hold an interest as of December 31, 2021 and December 31, 2020 were € 254 million € (134) million € 3.2 billion € 1.4 billion € 1.4 billion € 1.2 billion |
Current and Non-Current Assets
Current and Non-Current Assets and Liabilities | 12 Months Ended |
Dec. 31, 2021 | |
Current and Non-Current Assets and Liabilities [Abstract] | |
Disclosure of Current and Non-Current Assets and Liabilities [text block] | 39 – Asset and liability line items by amounts recovered or settled within or after one year Asset items as of December 31, 2021 Amounts recovered or settled Total in € m. within one year after one year Dec 31, 2021 Cash and central bank balances 192,012 9 192,021 Interbank balances (w/o central banks) 7,318 24 7,342 Central bank funds sold and securities purchased under resale agreements 5,904 2,465 8,368 Securities borrowed 63 0 63 Financial assets at fair value through profit or loss 483,183 8,050 491,233 Financial assets at fair value through other comprehensive income 6,995 21,984 28,979 Equity method investments 0 1,091 1,091 Loans at amortized cost 133,266 338,803 472,069 Property and equipment 0 5,536 5,536 Goodwill and other intangible assets 0 6,824 6,824 Other assets 87,654 16,130 103,784 Assets for current tax 717 497 1,214 Total assets before deferred tax assets 917,111 401,414 1,318,525 Deferred tax assets 6,180 Total assets 1,324,705 Liability items as of December 31, 2021 Amounts recovered or settled Total in € m. within one year after one year Dec 31, 2021 Deposits 582,924 21,472 604,396 Central bank funds purchased and securities sold under repurchase agreements 297 450 747 Securities loaned 24 0 24 Financial liabilities at fair value through profit or loss 398,204 2,653 400,857 Other short-term borrowings 4,034 0 4,034 Other liabilities 96,138 1,658 97,795 Provisions 2,641 0 2,641 Liabilities for current tax 411 189 600 Long-term debt 49,434 95,051 144,485 Trust preferred securities 528 0 528 Total liabilities before deferred tax liabilities 1,134,635 121,473 1,256,108 Deferred tax liabilities 498 Total liabilities 1,256,606 Asset items as of December 31, 2020 Amounts recovered or settled Total in € m. within one year after one year Dec 31, 2020 Cash and central bank balances 166,208 0 166,208 Interbank balances (w/o central banks) 9,120 11 9,130 Central bank funds sold and securities purchased under resale agreements 4,728 3,805 8,533 Securities borrowed 0 0 0 Financial assets at fair value through profit or loss 515,653 12,327 527,980 Financial assets at fair value through other comprehensive income 14,393 41,441 55,834 Equity method investments 0 901 901 Loans at amortized cost 111,588 315,103 426,691 Property and equipment 0 5,549 5,549 Goodwill and other intangible assets 0 6,725 6,725 Other assets 94,685 15,675 110,360 Assets for current tax 300 686 986 Total assets before deferred tax assets 916,674 402,223 1,318,898 Deferred tax assets 6,063 Total assets 1,324,961 Liability items as of December 31, 2020 Amounts recovered or settled Total in € m. within one year after one year Dec 31, 2020 Deposits 544,383 23,362 567,745 Central bank funds purchased and securities sold under repurchase agreements 1,830 495 2,325 Securities loaned 1,698 0 1,698 Financial liabilities at fair value through profit or loss 416,042 3,157 419,199 Other short-term borrowings 3,553 0 3,553 Other liabilities 112,617 1,591 114,208 Provisions 2,430 0 2,430 Liabilities for current tax 328 246 574 Long-term debt 59,613 89,550 149,163 Trust preferred securities 1,321 0 1,321 Total liabilities before deferred tax liabilities 1,143,814 118,402 1,262,216 Deferred tax liabilities 561 Total liabilities 1,262,777 |
Events after the Reporting Peri
Events after the Reporting Period | 12 Months Ended |
Dec. 31, 2021 | |
Events after the Reporting Period [Abstract] | |
Disclosure of events after reporting period [text block] | On February 24, 2022, Russia commenced a large-scale invasion against Ukraine. In response, the West has moved to impose broad-based sanctions targeting Russia, including but not limited to certain Russian banks and the Russian Central Bank, companies, parliamentary members and members of the Russian elite and their families. It is possible that additional sanctions and other measures may be imposed in the future. Developments with regards to the military conflict are fast moving and the extent of any financial and non-financial impact on the Group is currently not known. As of December 31, 2021, the Group’s operating subsidiary in Russia, OOO "Deutsche Bank" (DB Moscow), had capital of € 0.2 billion € 1.5 billion € 0.5 billion 1,600 5 % As of December 31, 2021, the Group’s loan exposure to Russia amounted to € 1.4 billion 0.3 % € 0.6 billion € 1.0 billion € 0.5 billion The Group has managed its market risk to Russia by performing regular risk assessments of its risk profile. To mitigate a broader contagion risk, action was taken was to reduce direct exposure prior to and immediately after events unfolded. This was achieved by entering into additional hedges and selective de-risking. The Group continues to closely monitor the situation by performing further contagion stress testing on different scenarios, with a key focus on potential reactions from the Central Bank of Russia. The Group’s financial and non-financial exposure to Ukraine is not material but is being closely monitored. Overall, the potential financial and non-financial impact of the ongoing situation on the Group will depend on how the crisis unfolds. The crisis and its impact on local and global economic conditions could impact our ability to generate revenues or meet our financial targets, increase our costs, negatively impact specific portfolios, result in higher-than-expected credit losses or potential impairments of assets, and potentially have a negative impact on our operations in Russia or Ukraine. Given the uncertainty of the situation, it is currently not possible to estimate any future impact on the financial statements. |
Regulatory Capital Information
Regulatory Capital Information | 12 Months Ended |
Dec. 31, 2021 | |
Regulatory Capital Information [Abstract] | |
Disclosure of regulatory capital [text block] | General definitions This section refers to the capital adequacy of the group of entities consolidated for banking regulatory purposes pursuant to the CRR and the German Banking Act (“Kreditwesengesetz” or “KWG”). Therein not included are insurance companies or companies outside the finance sector. The total own funds pursuant to the effective regulations as of year-end 2021 comprises Tier 1 and Tier 2 (T2) capital. Tier 1 capital is subdivided into Common Equity Tier 1 (CET 1) capital and Additional Tier 1 (AT1) capital. Common Equity Tier 1 (CET 1) capital consists primarily of common share capital (reduced by own holdings) including related share premium accounts, retained earnings (including losses for the financial year, if any) and accumulated other comprehensive income, subject to regulatory adjustments (i.e. prudential filters and deductions), as well as minority interests qualifying for inclusion in consolidated CET1 capital. Prudential filters for CET 1 capital, according to Articles 32 to 35 CRR, include (i) securitization gains on sale, (ii) cash flow hedges and changes in the value of own liabilities, and (iii) additional value adjustments. CET 1 capital deductions for instance includes (i) intangible assets (exceeding their prudential value), (ii) deferred tax assets that rely on future profitability, (iii) negative amounts resulting from the calculation of expected loss amounts, (iv) net defined benefit pension fund assets, (v) reciprocal cross holdings in the capital of financial sector entities and, (vi) significant and non-significant investments in the capital (CET 1, AT1, T2) of financial sector entities above certain thresholds. All items not deducted (i.e., amounts below the threshold) are subject to risk-weighting. Additional Tier 1 (AT1) capital consists of AT1 capital instruments and related share premium accounts as well as noncontrolling interests qualifying for inclusion in consolidated AT1 capital. To qualify as AT1 capital under CRR/CRD, instruments must have principal loss absorption through a conversion to common shares or a write-down mechanism allocating losses at a trigger point and must also meet further requirements (perpetual with no incentive to redeem; institution must have full dividend/coupon discretion at all times, etc.). Tier 2 (T2) capital comprises eligible capital instruments, the related share premium accounts and subordinated long-term debt, certain loan loss provisions and noncontrolling interests that qualify for inclusion in consolidated T2 capital. To qualify as T2 capital, capital instruments or subordinated debt must have an original maturity of at least five years. Moreover, eligible capital instruments may inter alia not contain an incentive to redeem, a right of investors to accelerate repayment, or a credit sensitive dividend feature We present in this report certain figures based on the CRR definition of own fund instruments applicable for Additional Tier 1 (AT1) capital and Tier 2 (T2) capital and figures based thereon, (including Tier 1, Total Capital and Leverage Ratio) on a “fully loaded” basis. We calculate such “fully loaded” figures excluding the transitional arrangements for own fund instruments as provided in the currently applicable CRR/CRD. Our CET1 and RWA figures include the transitional impacts from the IFRS 9 add-back also in the “fully-loaded” figures given it is an immaterial difference. Transitional arrangements are applicable for AT1 and T2 instruments. Capital instruments issued on or prior to December 31, 2011, that no longer qualify as AT1 or T2 capital under the fully loaded CRR/CRD as currently applicable are subject to grandfathering rules during the transitional period and are being phased out from 2013 to 2022 with their recognition capped at 20 % 10 % The current CRR as applicable since June 27, 2019 provides further grandfathering rules for AT1 and T2 instruments issued prior to June 27, 2019. Thereunder, AT1 and T2 instruments issued through special purpose entities are grandfathered until December 31, 2021. Beyond 2021, transitional arrangements only exist for AT1 and T2 instruments which continue to qualify until June 26, 2025 even if they do not meet certain new requirements that apply since June 27, 2019. We have immaterial amounts of such instruments outstanding at yearend 2021, which practically removes the difference between “fully loaded” and “transitional” AT1 and T2 instruments starting from January 1, 2022. We believe that these “fully loaded” calculations provide useful information to investors as they reflect our progress against known future regulatory capital standards. Many of our competitors have been describing calculations on a “fully loaded” basis, however, our competitors’ assumptions and estimates regarding “fully loaded” calculations may vary such that, our “fully loaded” measures may not be comparable with similarly labelled measures used by our competitors. Capital instruments Our Management Board received approval from the 2020 Annual General Meeting to buy back up to 206.7 million 103.3 million 41.3 million 28.7 million 3.7 million The 2021 Annual General Meeting granted our Management Board the approval to buy back up to 206.7 million 103.3 million 41.3 million 4.0 million 24.0 million 0.7 million € 2,560 million 1,000 million € 512 million 200 million € 51.2 million 20 million € 8.0 billion Our legacy Hybrid Tier 1 capital instruments (substantially all noncumulative trust preferred securities) are not recognized under fully loaded CRR/CRD rules as Additional Tier 1 capital, mainly because they have no write-down or equity conversion feature. During the transitional phase-out period the maximum recognizable amount of Additional Tier 1 instruments from Basel 2.5 compliant issuances as of December 31, 2012 will be reduced at the beginning of each financial year by 10 % € 1.3 billion € 8.9 billion € 8.3 billion € 0.6 billion € 2.5 billion € 0.5 billion The total of our Tier 2 capital instruments as of December 31, 2021 recognized during the transition period under CRR/CRD was € 7.4 billion € 8.8 billion € 7.3 billion € 8.7 billion U.S.$ 1.25 billion € 1.1 billion € 0.3 billion Minimum capital requirements and additional capital buffers Failure to meet minimum capital requirements can result in supervisory measures such as restrictions of profit distributions or limitations on certain businesses such as lending. We complied with the regulatory capital adequacy requirements in 2021. Details on regulatory capital Own Funds Template (incl. RWA and capital ratios) in € m. Dec 31, 2021 Dec 31, 2020³ Common Equity Tier 1 (CET 1) capital: instruments and reserves Capital instruments, related share premium accounts and other reserves 45,864 45,890 Retained earnings 10,506 9,784 Accumulated other comprehensive income (loss), net of tax (444) (1,118) Independently reviewed interim profits net of any foreseeable charge or dividend 1 1,379 253 Other 910 805 Common Equity Tier 1 (CET 1) capital before regulatory adjustments 58,215 55,613 Common Equity Tier 1 (CET 1) capital: regulatory adjustments Additional value adjustments (negative amount) (1,812) (1,430) Other prudential filters (other than additional value adjustments) (14) (112) Goodwill and other intangible assets (net of related tax liabilities) (negative amount) (4,897) (4,635) Deferred tax assets that rely on future profitability excluding those arising from (1,466) (1,353) Negative amounts resulting from the calculation of expected loss amounts (573) (99) Defined benefit pension fund assets (net of related tax liabilities) (negative amount) (991) (772) Direct, indirect and synthetic holdings by an institution of own CET 1 instruments (negative amount) 0 0 Direct, indirect and synthetic holdings by the institution of the CET 1 instruments of financial sector entities where the institution has a significant investment in those entities (amount above the 10 % / 15 % thresholds and net of eligible short positions) (negative amount) 0 0 Deferred tax assets arising from temporary differences (net of related tax liabilities where the conditions in Art. 38 (3) CRR are met) (amount above the 10 % / 15 % thresholds) (negative amount) (151) (75) Other regulatory adjustments 2 (1,805) (2,252) Total regulatory adjustments to Common Equity Tier 1 (CET 1) capital (11,709) (10,728) Common Equity Tier 1 (CET 1) capital 46,506 44,885 Additional Tier 1 (AT1) capital: instruments Capital instruments and the related share premium accounts 8,328 5,828 Amount of qualifying items referred to in Art. 484 (4) CRR and the related share 600 1,100 Additional Tier 1 (AT1) capital before regulatory adjustments 8,928 6,928 Additional Tier 1 (AT1) capital: regulatory adjustments Direct, indirect and synthetic holdings by an institution of own AT1 instruments (60) (80) Residual amounts deducted from AT1 capital with regard to deduction from CET 1 capital during the transitional period pursuant to Art. 472 CRR N/M Other regulatory adjustments 0 0 Total regulatory adjustments to Additional Tier 1 (AT1) capital (60) (80) Additional Tier 1 (AT1) capital 8,868 6,848 Tier 1 capital (T1 = CET 1 + AT1) 55,375 51,734 Tier 2 (T2) capital 7,358 6,944 Total capital (TC = T1 + T2) 62,732 58,677 Total risk-weighted assets 351,629 328,951 Common Equity Tier 1 capital ratio (as a percentage of risk-weighted assets) 13.2 13.6 Tier 1 capital ratio (as a percentage of risk-weighted assets) 15.7 15.7 Total capital ratio (as a percentage of risk-weighted assets) 17.8 17.8 1 Full year profit is recognized as per ECB Decision (EU) 2015/656 in accordance with the Article 26(2) of Regulation (EU) No 575/2013 (ECB/2015/4). 2 Includes capital deductions of € 1.1 billion € 0.9 billion € 0.7 billion € 0.7 billion € 17 million € 39 million € 54 million € 0.7 billion 3 The Common Equity Tier 1 capital for December 31, 2020 has been updated to reflect a dividend payment of zero for the financial year 2020 Reconciliation of shareholders’ equity to Own Funds CRR/CRD in € m. Dec 31, 2021 Dec 31, 2020 ³ Total shareholders’ equity per accounting balance sheet (IASB IFRS) 58,096 54,774 Difference between equity per IASB IFRS / EU IFRS 4 (68) 12 Total shareholders’ equity per accounting balance sheet (EU IFRS) 58,027 54,786 Deconsolidation/Consolidation of entities 265 265 Of which: Additional paid-in capital 0 0 Retained earnings 265 265 Accumulated other comprehensive income (loss), net of tax 0 0 Total shareholders' equity per regulatory balance sheet 58,292 55,050 Minority Interests (amount allowed in consolidated CET 1) 910 805 AT1 coupon and shareholder dividend deduction 1 (987) (242) Common Equity Tier 1 (CET 1) capital before regulatory adjustments 58,215 55,613 Additional value adjustments (1,812) (1,430) Other prudential filters (other than additional value adjustments) (14) (112) Goodwill and other intangible assets (net of related tax liabilities) (negative amount) (4,897) (4,635) Deferred tax assets that rely on future profitability (1,617) (1,428) Defined benefit pension fund assets (net of related tax liabilities) (negative amount) (991) (772) Direct, indirect and synthetic holdings by the institution of the CET 1 instruments of financial sector entities 0 0 Other regulatory adjustments 2 (2,378) (2,351) Common Equity Tier 1 capital 46,506 44,885 1 Full year profit is recognized as per ECB Decision (EU) 2015/656 in accordance with the Article 26(2) of Regulation (EU) No 575/2013 (ECB/2015/4) 2 Includes capital deductions of € 1.1 billion € 0.9 billion € 0.7 billion € 0.7 billion € 0.6 billion € 0.1 billion € 17 million € 39 million € 54 million € 0.7 billion 3 The Common Equity Tier 1 capital for December 31, 2020 has been updated to reflect a dividend payment of zero for the financial year 2020 4 Differences in “equity per balance sheet” result entirely from deviations in profit (loss) after taxes due to the application of EU carve-out rules as set forth in the chapter "Basis of preparation/impact of changes in accounting principles". These rules were initially applied in the first quarter 2020 |
Impact of Deutsche Banks Transf
Impact of Deutsche Banks Transformation | 12 Months Ended |
Dec. 31, 2021 | |
Impact of Deutsche Banks Transformation [Abstract] | |
Impact of Deutsche Banks Transformation [text block] | 42 – The information presented in this Note refers to a number of transformational measures relating to the Group’s businesses and its organization Deutsche Bank announced on July 7, 2019. The immediate and secondary impacts that these measures had on the Group’s operating results and financial position are disclosed below. 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 € 131 million € 36 million € 131 million In addition, the Group recorded amortization on software and other related impacts subject to the transformation strategy of € 451 million € 178 million € 451 million € 350 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 € 269 million € 201 million 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 € 0 million € 37 million 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 € 261 million € 485 million 1,362 1,447 In addition to these restructuring expenses, € 209 million € 203 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 € 152 million € 75 million |
Condensed Deutsche Bank AG (Deu
Condensed Deutsche Bank AG (Deutsche Bank AG) Financial Information | 12 Months Ended |
Dec. 31, 2021 | |
Condensed Deutsche Bank AG (Parent Company only) Financial Information [Abstract] | |
Disclosure of Condensed Deutsche Bank AG (Parent Company only) Financial Information [text block] | 44 – In May 2020 the former subsidiary DB Privat- und Firmenkundenbank AG was merged with Deutsche Bank AG effective retrospectively as of January 1, 2020. The comparative data in the subsequent tables was not adjusted. Condensed statement of income in € m. 2021 2020 2019 Interest income, excluding dividends from subsidiaries 13,830 15,301 17,402 Dividends received from subsidiaries: Bank subsidiaries 356 166 914 Nonbank subsidiaries 893 859 608 Interest expense 5,120 6,274 9,810 Net interest and dividend income 9,959 10,052 9,114 Provision for credit losses 317 1,444 3,118 Net interest and dividend income after provision for credit losses 9,642 8,608 5,996 Noninterest income: Commissions and fee income 4,987 4,414 2,957 Net gains (losses) on financial assets/liabilities at fair value through profit or loss 2,151 1,709 132 Other income (loss) 1 (105) 1,506 (11,912) Total noninterest income 7,034 7,629 (8,824) Noninterest expenses: Compensation and benefits 5,395 5,641 4,760 General and administrative expenses 7,427 6,950 7,735 Services provided by (to) affiliates, net 2,097 2,730 1,328 Impairment of goodwill and other intangible assets 0 0 75 Total noninterest expenses 14,918 15,321 13,898 Income (loss) before income taxes 1,757 916 (16,725) Income tax expense (benefit) 213 (34) 1,357 Net income (loss) attributable to Deutsche Bank shareholders and additional equity components 1,544 950 (18,083) 1 Condensed statement of comprehensive income in € m. 2021 2020 2019 Net income (loss) attributable to Deutsche Bank shareholders and additional equity components 1,544 950 (18,083) Other comprehensive income (loss), net of tax 130 (172) (440) Total comprehensive income (loss), net of tax 1,674 778 (18,523) Condensed balance sheet in € m. Dec 31, 2021 Dec 31, 2020 Assets: Cash and central bank balances: 153,899 138,716 Interbank balances (w/o central banks): Bank subsidiaries 13,265 13,980 Other 4,742 4,668 Central bank funds sold, securities purchased under resale agreements, securities borrowed: Bank subsidiaries 0 0 Nonbank subsidiaries 39,253 29,165 Other 7,552 7,715 Financial assets at fair value through profit or loss: Bank subsidiaries 1,083 1,533 Nonbank subsidiaries 1,234 1,360 Other 430,102 468,875 Financial assets at fair value through other comprehensive income 48,612 74,931 Investments in associates 236 183 Investment in subsidiaries: Bank subsidiaries 6,592 6,563 Nonbank subsidiaries 21,725 23,229 Loans: Bank subsidiaries 34,817 26,893 Nonbank subsidiaries 36,351 38,095 Other 352,176 313,011 Other assets: Bank subsidiaries 1,396 1,095 Nonbank subsidiaries 12,616 11,798 Other 92,967 108,194 Total assets 1,258,617 1,270,004 Liabilities and equity: Deposits: Bank subsidiaries 25,927 21,470 Nonbank subsidiaries 16,460 15,396 Other 497,726 474,012 Central bank funds purchased, securities sold under repurchase agreements and securities loaned: Bank subsidiaries 570 895 Nonbank subsidiaries 48,891 36,566 Other 762 3,751 Financial liabilities at fair value through profit or loss: Bank subsidiaries 1,493 2,003 Nonbank subsidiaries 859 559 Other 365,005 387,389 Other short-term borrowings: Bank subsidiaries 27 37 Nonbank subsidiaries 956 1,440 Other 3,789 3,313 Other liabilities: Bank subsidiaries 1,028 1,125 Nonbank subsidiaries 5,291 6,285 Other 77,702 100,571 Long-term debt 162,108 169,007 Total liabilities 1,208,592 1,223,819 Total shareholders’ equity 41,720 40,361 Additional equity components 8,305 5,824 Total equity 50,025 46,185 Total liabilities and equity 1,258,617 1,270,004 Condensed statement of cash flows in € m. 2021 2020 2019 Net cash provided by (used in) operating activities (12,829) 20,605 (41,369) Cash flows from investing activities: Proceeds from: Sale of financial assets at fair value through other comprehensive income 49,020 37,446 14,075 Maturities of financial assets at fair value through other comprehensive income 18,646 29,093 36,236 Sale of debt securities held to collect at amortized cost 30 8,239 350 Maturities of debt securities held to collect at amortized cost 4,743 3,960 195 Sale of equity method investments 21 30 0 Sale of property and equipment 93 12 12 Purchase of: Financial assets at fair value through other comprehensive income (42,011) (75,890) (47,705) Debt Securities held to collect at amortized cost (5,922) (3,359) (19,320) Investments in associates (8) (3) (1) Property and equipment (464) (387) (266) Net change in investments in subsidiaries 1,516 3,427 1,149 Other, net (965) (927) (861) Net cash provided by (used in) investing activities 24,698 1,642 (16,136) Cash flows from financing activities: Issuances of subordinated long-term debt 1,099 1,668 25 Repayments and extinguishments of subordinated long-term debt (25) (1,120) (11) Issuances of trust preferred securities 0 0 0 Repayments and extinguishments of trust preferred securities 0 0 0 Principal portion of lease payments (462) (479) (362) Common shares issued 0 0 0 Purchases of treasury shares (346) (279) (1,359) Sale of treasury shares 35 76 1,181 Additional Equity Components (AT1) issued 2,500 1,153 0 Purchases of Additional Equity Components (AT1) (1,230) (709) (88) Sale of Additional Equity Components (AT1) 1,210 721 77 Coupon on additional equity components, pre tax (363) (349) (330) Cash dividends paid 0 0 (227) Net cash provided by (used in) financing activities 2,417 681 (1,094) Net effect of exchange rate changes on cash and cash equivalents 755 (799) 1,163 Net increase (decrease) in cash and cash equivalents 15,042 47,295 (57,436) thereof: Group internal merger 0 25,166 0 Cash and cash equivalents at beginning of period 129,699 82,405 139,841 Cash and cash equivalents at end of period 144,741 129,699 82,405 Net cash provided by (used in) operating activities include Income taxes paid (received), net 13 916 280 Interest paid 5,182 6,324 10,054 Interest received 13,288 15,905 14,786 Dividends received 1,468 724 4,217 Cash and cash equivalents comprise Cash and central bank balances (not included Interest-earning time deposits with central banks) 138,800 124,549 75,180 Interbank balances (w/o central banks) 5,941 5,151 7,225 Total 144,741 129,699 82,405 Parent company’s long-term debt by earliest contractual maturity Due in Due in Due in Due in Due in Due after Total Total in € m. Senior debt: Bonds and notes: Fixed rate 9,053 11,038 9,182 5,295 9,987 16,915 61,469 62,296 1 Floating rate 3,135 1,373 2,327 3,243 3,235 4,871 18,184 27,991 1 Other 37,246 1,044 999 935 814 31,511 72,549 69,254 Subordinated debt Bonds and notes: Fixed rate 14 0 64 2,623 1,967 2,488 7,157 6,047 Floating rate 600 1,197 21 194 0 455 2,467 2,846 Other 15 93 88 0 42 46 283 571 Total long-term debt 50,063 14,744 12,680 12,290 16,045 56,286 162,108 169,007 1 |
IBOR Benchmark Reform
IBOR Benchmark Reform | 12 Months Ended |
Dec. 31, 2021 | |
IBOR Transition [Abstract] | |
IBOR Transition [Text Block] | 43 Many of the reforms are now effective while others are well progressed. In 2019, EURIBOR was reformed to comply with the EU financial benchmarks regulation and continues to be available. EONIA ceased to exist from January 3, 2022 and has been replaced by the “€STR” euro short-term rate €STR. Publication of IBOR settings for all tenors of GBP LIBOR, CHF LIBOR, EUR LIBOR and JPY LIBOR ceased on January 3, 2022. Three JPY LIBOR and three GBP LIBOR benchmarks will continue in ‘synthetic’ form for limited periods but are not available for use in new products. For USD LIBOR, publication of settings for 1-week and 2-months USD LIBOR has ended as of December 31, 2021. Five remaining USD LIBOR settings will continue to be published until the end of June 2023 although they are generally not available for use in new products. A decision about whether to continue any of the USD LIBOR settings in ‘synthetic’, and thus non-representative, form will 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 maturity date of the financial instruments maturity is after 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. Interest Rate Benchmark (IBOR) Reform 2021 in € m. USD LIBOR GBP LIBOR CHF LIBOR JPY LIBOR EONIA Other IBORs Multiple basis 1 Non-Derivative Financial assets: Bonds (floating rate notes) 400 - - - - - - Securitizations 98 37 - - - - - Syndicated Loans 35,312 552 11 1 - 71 - Repurchase agreements / Other Secured Lending 308 - - - - - - Loans / Advances (Total Limit) 27,091 4,926 171 58 363 398 - Retail / Commercial Mortgages 395 - - - - - - Other 982 90 - 7 173 - - Derivative Financial assets: 2 Interest Rate Derivatives – Exchange Traded 80,264 - - - - - - Interest Rate Derivatives – OTC 2,546,602 345,222 44,657 521,581 9,042 40,493 5 Other OTC Derivatives 202,554 6,080 2,408 1,946 0 10 167,045 Total financial assets 2,894,005 356,907 47,246 523,593 9,578 40,971 167,050 Non-Derivative Financial liabilities: Bonds (floating rate notes) 6,561 - - - - - - Repos / Other Secured Lending 6 - - - 2 - - Deposits 10,809 - - - 664 - - Other 26 41 - - 22 - - Derivative Financial liabilities: 2 Interest Rate Derivatives – Exchange Traded 3,374 - - - - - - Interest Rate Derivatives – OTC 2,469,906 315,253 44,058 498,993 7,150 38,569 2 Other OTC Derivatives 196,083 6,177 1,384 3,578 0 81 144,215 Total financial liabilities 2,686,766 321,471 45,442 502,571 7,840 38,650 144,217 Off-balance sheet: Loan Commitments 73,152 498 40 95 1,954 33 - Other Commitments 13 - - - - - - Other - - - - 9 - - Total off-balance sheet 73,166 498 40 95 1,963 33 - 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 The table above shows the exposure to legacy IBORs based upon the contractual terms and the reference rate that currently applies. All the positions referencing GBP LIBOR, CHF LIBOR, JPY LIBOR, EUR LIBOR, EONIA and those USD LIBOR tenors ceasing in early 2022 have either effective fall back provisions in place which will result in the benchmark rate on these products changing to an alternative reference rate when the respective IBOR ceases on January 3, 2022, or are expected to utilize GBP and JPY synthetic IBOR in 2022 as the transition arrangements are finalized. The Group IBOR program is tracking such contracts that are expected to utilize GBP and JPY synthetic LIBOR in 2022. The notional value of these positions amounts to approximately € 1.15 billion |
Risk Report - Risk and Capital
Risk Report - Risk and Capital Framework | 12 Months Ended |
Dec. 31, 2021 | |
Risk and Capital Framework [Abstract] | |
Risk Management Principles [text block] | – – – – – – – – – – |
Risk Governance paragraph 1 [text block] | Risk governance Our operations throughout the world are regulated and supervised by relevant authorities in each of the jurisdictions in which we conduct business. Such regulation focuses on licensing, capital adequacy, liquidity, risk concentration, conduct of business as well as organizational and reporting requirements. The European Central Bank (the “ECB”) in connection with the competent authorities of EU countries which joined the Single Supervisory Mechanism via the Joint Supervisory Team act in cooperation as our primary supervisors to monitor our compliance with the German Banking Act and other applicable laws and regulations. Several layers of management provide cohesive risk governance: – – – – – Risk management governance structure of the Deutsche Bank Group |
Risk Governance paragraph 2 [text block] | The following functional committees are central to the management of risk at Deutsche Bank: – – – – – – – Our Chief Risk Officer (CRO), who is a member of the Management Board, has Group-wide, supra-divisional responsibility for establishing a risk management framework with appropriate identification, measurement, monitoring, mitigation and reporting of liquidity, credit, market, enterprise, model and non-financial risks (including operational and reputational). However, frameworks for certain risks are established by other functions as per the business allocation plan. The CRO has direct management responsibility for the CRO function. Risk management & control duties in the CRO function are generally assigned to specialized risk management units focusing on the management of – – – These specialized risk management units generally handle the following core tasks: – – – – – Chief Risk Officers for each business division, having a holistic view of the respective business, challenge and influence the divisions’ strategies, risk awareness and ownership as well as their adherence to risk appetite. Responsibility for Compliance and Anti-Financial Crime has transferred from the Chief Risk Officer to the Chief Administrative Officer in the first half of 2021. While operating independently from each other and the business divisions, our Finance and Risk functions have the joint responsibility to quantify and verify the risk that we assume. |
Risk Report - Risk Management
Risk Report - Risk Management | 12 Months Ended |
Dec. 31, 2021 | |
Risk Management [Abstract] | |
Risk Identification and Assessment [text block] | Risk identification and assessment We regularly identify risks to our business’ and infrastructure’s operations, including under stressed conditions. This assessment incorporates input from both 1 st nd Regular updates to the risk inventory are reported to senior management for review and challenge, and subsequently inform key risk management processes. These include the development of stress scenarios tailored to Deutsche Bank’s risk profile, and informing risk appetite setting and monitoring. Risks in the inventory are also mapped to risks in |
Credit Risk Management [Abstract] | |
Credit Risk Framework [text block] | Credit Risk framework Credit Risk arises from all transactions where actual, contingent or potential claims against any counterparty, borrower, obligor or issuer (which we refer to collectively as “counterparties”) exist, including those claims that we plan to distribute. These transactions are typically part of our non-trading lending activities (such as loans and contingent liabilities) as well as our direct trading activity with clients (such as OTC derivatives). These also include traded bonds and debt securities. Carrying values of equity investments are also disclosed in our Credit Risk section. We manage the respective positions within our market risk and credit risk frameworks. Based on the Risk Type Taxonomy, Credit Risk is grouped into four material categories, namely default / migration risk, transaction / settlement risk (exposure risk), mitigation risk and credit concentration risk. This is complemented by a regular risk identification and materiality assessment. – – – – We manage our credit risk using the following philosophy and principles: – – – – – – – – – – – |
IFRS 9 Impairment [text block] | IFRS 9 Impairment Description of IFRS 9 Model and Methodology In the following section, the Group provides an overview of the IFRS 9 impairment framework which includes descriptions of key decisions taken in relation to critical accounting estimates and judgements, along with methodologies and definitions applied in the IFRS 9 impairment model. The impairment requirements of IFRS 9 apply to all credit exposures that are measured at amortized cost or fair value through other comprehensive income and to off balance sheet lending commitments, such as loan commitments and financial guarantees. For purposes of our impairment approach, we refer to these instruments as financial assets. The Group determines its allowance for credit losses in accordance with IFRS 9 as follows: – – – – – The IFRS 9 impairment approach is an integral part of the Group’s Credit Risk Management procedures. The estimation of Expected Credit Losses (ECL’s) is either performed via the automated, parameter based ECL calculation using the Group’s ECL model or determined by Credit Officers. In both cases, the calculation takes place for each financial asset individually. Similarly, the determination of the need to transfer between stages is made on an individual asset basis. The Group’s ECL model is used to calculate the allowance for credit losses for all financial assets in Stage 1 and Stage 2, as well as for Stage 3 in the homogeneous portfolio (i.e. retail and small business loans with similar credit risk characteristics). For financial assets in our non-homogeneous portfolio in Stage 3 and for POCI assets, the allowance for credit losses is determined by Credit Officers. The Group uses three main components to measure ECL. These are Probability of Default (PD), Loss Given Default (LGD) and Exposure at Default (EAD). The Group leverages existing parameters used for determination of capital demand under the Basel Internal Ratings Based Approach and internal risk management practices as much as possible to calculate ECL. These parameters are adjusted where necessary to comply with IFRS 9 requirements (e.g. use of point in time ratings and removal of downturn add-ons in the regulatory parameters). Incorporating forecasts of future economic conditions into the measurement of expected credit losses influences the allowance for credit losses in Stage 1 and 2. In order to calculate lifetime expected credit losses, the Group’s calculation derives the corresponding lifetime PDs from migration matrices that reflect economic forecasts. At initial recognition, financial assets are reflected in Stage 1, unless the financial assets are POCI. If there is a significant increase in credit risk, the financial asset is transferred to Stage 2. A significant increase in credit risk is determined by using rating-related and process-related indicators. The assignment of financial assets to Stage 3 is based on the status of the borrower being in default. If a borrower is in default, then all financial assets of the borrower are transferred to Stage 3. Rating-related Stage 2 indicators: The Group compares a borrower’s lifetime PD at the reporting date with lifetime PD expectations at the date of initial recognition to determine if there was a significant change in the borrower’s PDs and all of its transactions in the scope of IFRS 9 impairment. Based on historically observed migration behavior and a sampling of different economic scenarios, a lifetime PD distribution is obtained. A quantile of this distribution, which is defined for each counterparty class, is chosen as the lifetime PD threshold. If the remaining lifetime PD of a transaction according to current expectations exceeds this threshold, the financial asset has incurred a significant increase in credit risk and is transferred to Stage 2. The quantiles used to define Stage 2 thresholds are determined using expert judgment, are validated annually and have not changed as a result of COVID ‑ Process-related Stage 2 Indicators: Process-related indicators are derived via the use of existing risk management indicators, which in Management’s view represent situations where the credit risk of financial assets has significantly increased. These include borrowers being added to a credit watchlist, being transferred to workout status, payments being 30 days or more past due or in forbearance (except for certain COVID-19 related forbearance measures as described further below). As long as the conditions for one or more of the process-related or rating-related indicators is fulfilled and the borrower of the financial asset has not met the definition of default, the asset will remain in Stage 2. If the Stage 2 indicators are no longer fulfilled and the financial asset is not defaulted, the financial asset transfers back to Stage 1. In case of performing forborne financial assets, the probation period in line with regulatory guidance amounts to 2 years before the financial asset is reclassified to Stage 1. In the second quarter of 2021, the Group refined one of the process-related Stage 2 triggers. Financial assets added to the watchlist for discretionary reasons are now transferred to Stage 2, whereas prior to this change only assets added to the watchlist for mandatory reasons were transferred to Stage 2. This methodology change, which represents a change in estimate, resulted in an increase of the Group’s allowance for credit losses of € 60 million If the borrower defaults, all transactions of the borrower are allocated to Stage 3. If at a later date the borrower is no longer in default, the curing criteria according to regulatory guidance is applied (including probation periods), which are at least 3 months or 1 year in case of distressed restructurings. Once the regulatory cure period or criteria has been met, the borrower will cease to be classified as defaulted and its assets will be transferred back to Stage 2 or Stage 1. In the third quarter of 2021, the Group obtained ECB approval and completed the rollout of the latest regulatory guidance on the definition of default, which consists of two EBA guidelines. One guideline comprises an EBA technical standard regarding the materiality threshold for credit obligations past due (implemented with ECB regulation (EU) 2018/1845) and the second guideline covers the application of the definition of default. Both new requirements are jointly referred to as EBA Guidelines on definition of default. These EBA Guidelines replaced the definition of default under Basel II and mainly impacted ECL for specific portfolios within the Private Bank. The impact of the change in estimate was not material. The expected credit loss calculation for Stage 3 distinguishes between transactions in homogeneous and non-homogenous portfolios, and POCI financial assets. For transactions that are in Stage 3 and in a homogeneous portfolio, the Group uses a parameter based automated approach to determine the credit loss allowance per transaction. For these transactions, the LGD parameters are partially modelled to be time dependent, i.e. consider the declining recovery expectation as time elapses after default. The allowance for credit losses for financial assets in our non-homogeneous portfolios in Stage 3, as well as for POCI assets are determined by Credit Officers. This allows Credit Officers to consider currently available information and recovery expectations specific to the borrowers and the financial assets at the reporting date. Estimation Techniques for Key Input Factors The first key input factor in the Group ECL calculation is the one-year PD for borrowers which is derived from our internal rating systems. The Group assigns a PD to each borrower credit exposure based on a 21-grade master rating scale for all of our exposure. The borrower ratings assigned are derived based on internally developed rating models which specify consistent and distinct customer-relevant criteria and assign a rating grade based on a specific set of criteria as given for a certain customer. The set of criteria is generated from information sets relevant for the respective customer segments including general customer behavior, financial and external data. The methods in use range from statistical scoring models to expert-based models taking into account the relevant available quantitative and qualitative information. Expert-based models are usually applied for borrowers in the exposure classes “Central governments and central banks”, “Institutions” and “Corporates” with the exception of those “Corporates” segments for which a sufficient data basis is available for statistical scoring models. For the latter as well as for the retail segment statistical scoring or hybrid models combining both approaches are commonly used. Quantitative rating methodologies are developed based on applicable statistical modelling techniques, such as logistic regression. One-year PDs are extended to multi-year PD curves using through-the-cycle (TTC) matrices and macroeconomic forecasts. Based on economic scenarios centered around the macroeconomic baseline forecast, TTC matrices are first transformed into point-in-time (PIT) rating migration matrices, typically for a two-year period. The calculation of the PIT matrices leverages a link between macroeconomic variables and the default and rating behavior of borrowers, which is derived from historical macroeconomic variables (MEV) and rating time series through regression techniques. In a final step, multi-year PD curves are derived from PIT rating migration matrices for periods where reasonable and supportable forecasts are available and extrapolated based on TTC rating migration matrices beyond those periods. The second key input into the ECL calculation is the LGD parameter, which is defined as the likely loss intensity in case of a borrower’s default. It provides an estimation of the exposure that cannot be recovered in a default event and therefore captures the severity of a loss. Conceptually, LGD estimates are independent of a borrower’s probability of default. The LGD models applied in stages 1 and 2, which are based on regulatory LGD models but adjusted for IFRS 9 requirements (removal of downturn-add-on and removal of indirect costs of workout), ensure that the main drivers for losses (i.e. different levels and quality of collateralization and customer or product types or seniority of facility) are reflected as risk drivers in LGD estimates. In our LGD models we assign collateral type specific LGD parameters to the collateralized exposure (collateral value after application of haircuts). The LGD setting for defaulted homogeneous portfolios are partially dependent on time after default and are either calibrated based on the Group’s multi-decade loss and recovery experience using statistical methods or for less significant portfolios certain LGD model input parameters (e.g. cure rates) are determined by expert judgement. The third key input is the Exposure at Default (EAD) over the lifetime of a financial asset which is modelled taking into account expected repayment profiles (e.g. linear amortization, annuities, bullet loan structures). Prepayment options are not modelled for all portfolios as they are not deemed material. We apply specific Credit Conversion Factors (CCFs) in order to calculate an EAD value. Conceptually, the EAD is defined as the expected amount of the credit exposure to a borrower at the time of its default. In instances where a transaction involves an unused limit, a percentage share of this unused limit is added to the outstanding amount in order to appropriately reflect the expected outstanding amount in case of a borrower’s default. This reflects the assumption that for commitments, the utilization at the time of default might be higher than the current outstanding balance. In case a transaction involves an additional contingent component (i.e., guarantees) a further percentage share is applied as part of the CCF model in order to estimate the amount of guarantees drawn in case of default. The calibrations of such parameters are based on internal historical data and are either based on empirical analysis or supported by expert judgement and consider borrower and product type specifics. Where supervisory CCF values need to be applied for regulatory purposes, internal estimates are used for IFRS 9. Expected Lifetime IFRS 9 requires the determination of lifetime expected credit losses for which the expected lifetime of a financial asset is a key input factor. Lifetime expected credit losses represent default events over the expected life of a financial asset. The Group measures expected credit losses considering the risk of default over the maximum contractual period (including any borrower’s extension options) over which the Group is exposed to credit risk. Retail overdrafts, credit card facilities and certain corporate revolving facilities typically include both a loan and an undrawn commitment component. The expected lifetime of such on-demand facilities exceeds their contractual life as they are typically cancelled only when the Group becomes aware of an increase in credit risk. The expected lifetime is estimated by taking into consideration historical information and the Group’s Credit Risk Management actions such as credit limit reductions and facility cancellation. Where such facilities are subject to an individual review by Credit Risk Management, the lifetime for calculating expected credit losses is 12 months. For facilities not subject to individual review by Credit Risk Management, we apply a lifetime for calculating expected credit losses of 24 months. Interest Rate used in the IFRS 9 model In the context of the ECL calculation, the Group applies in line with IFRS 9 an approximation of the effective interest rate (EIR), which is usually the contractual interest rate (CIR). The CIR is deemed to be an appropriate approximation, as the interest rate is consistently used in the ECL model, interest recognition and for discounting of the ECL and does not materially differ from the EIR. Consideration of Collateralization in IFRS 9 Expected Credit Loss Calculation The ECL model projects the level of collateralization for each point in time in the life of a financial asset. At the reporting date, the model uses the existing collateral distribution process applied in DB’s Economic Capital model. In this model, the liquidation value of each eligible collateral is allocated to relevant financial assets to distinguish between collateralized and uncollateralized parts of each financial asset. In the ECL calculation, the Group subsequently applies the aforementioned LGDs for secured and unsecured exposures to derive the ECL for the secured and unsecured part of the exposure separately. Certain financial guarantee contracts are integral to the financial assets guaranteed. In such cases, the financial guarantee is considered as collateral for the financial asset and the benefit of the guarantee is used to mitigate the ECL of the guaranteed financial asset. Forward Looking Information Under IFRS 9, the allowance for credit losses is based on reasonable and supportable forward-looking information available without undue cost or effort, which takes into consideration past events, current conditions and forecasts of future economic conditions. To incorporate forward looking information into the Group’s allowance for credit losses, we use two key elements: – – The general use of forward-looking information, including macro-economic factors, as well as adjustments taking into account extraordinary factors (e.g. COVID-19), are monitored by the Group's Risk and Finance Credit Loss Provision Forum. At a minimum, the Group updates its forecasts for macro-economic factors on a quarterly basis and reviews aspects of potential model imprecision (e.g. MEV parameters outside the historic range used for model calibration, if not already included in the model) as part of an MEV monitoring framework to assess the necessity of corrective measures in the form of overlays. As described earlier, the Group’s approach to reflect macroeconomic variables in the calculation of the ECL estimate is to incorporate forecasts for the next two years, using eight discrete quarterly observations. After the period of eight quarters, the Group constructs forecasts based on macro-economic variables and their historic trends. In the second quarter of 2021: Deutsche Bank implemented a refinement of its forward-looking information model which introduced a more granular approach to its portfolio segmentation to better reflect the key risk drivers in material portfolios. This change in estimate resulted in an increase of the Group’s allowance for credit losses of € 31 million The table below contains the MEVs which incorporate forward-looking information in our ECL model as of December 31, 2021, which includes the more granular approach implemented in second quarter 2021. Forward-looking information applied December 31, 2021¹ ² Year 1 Year 2 Commodity - Gold 1,764.58 1,696.51 Commodity - WTI 73.19 68.21 Credit - CDX Emerging Markets 231.80 268.64 Credit - CDX High Yield 353.42 399.62 Credit - CDX IG 59.53 63.98 Credit - High Yield Index 3.95 4.46 Credit - ITX Europe 125 61.37 69.93 Equity - MSCI Asia 1,543 1,514 Equity - Nikkei 29,673 30,764 Equity - S&P500 4,777 5,033 GDP - Developing Asia 3.78 % 6.26 % GDP - Emerging Markets 3.72 % 5.38 % GDP - Eurozone 4.67 % 2.91 % GDP - Germany 3.35 % 2.86 % GDP - Italy 5.17 % 2.33 % GDP - USA 4.46 % 2.79 % Real Estate Prices - US CRE Index 348.86 377.26 Unemployment - Eurozone 7.41 % 7.07 % Unemployment - Germany 3.13 % 2.83 % Unemployment - Italy 9.18 % 8.92 % Unemployment - Japan 2.73 % 2.53 % Unemployment - Spain 14.26 % 13.66 % Unemployment - USA 4.05 % 3.68 % 1 MEV as of 31 December 2021; MEV outside the calibrated range were adjusted either in the model or via a management overlay as discussed further below. 2 Year 1 equals fourth quarter of 2021 to third quarter of 2022, Year 2 equals fourth quarter of 2022 to third quarter of 2023. During the height of the COVID-19 pandemic in 2020, it was management’s opinion that the most representative approach for estimating ECL was to reduce the weight of short-term forecasts and derive adjusted model inputs based on longer term averages. For this reason, the Group applied an overlay to its standard IFRS 9 model in 2020. The overlay, which reduced the provision by € 104 million December 31. 2020¹ ² Year 1 Year 2 Year 3 Credit - ITX Europe 125 52.81 − − FX - EUR/USD 1.20 − − GDP Eurozone 1.38 % 4.37 % 2.32 % GDP Germany 1.54 % 4.01 % 2.08 % GDP Italy 1.92 % 3.80 % 1.93 % GDP USA 2.80 % 3.35 % 2.29 % Rate - US Treasury 2y 0.17 % – − Unemployment - Eurozone 8.86 % 8.35 % 7.94 % Unemployment - Germany 4.30 % 3.95 % 3.72 % Unemployment - Italy 10.65 % 10.38 % 9.85 % Unemployment - Spain 17.89 % 16.32 % 15.49 % Unemployment - USA 6.40 % 5.19 % 4.46 % 1 Rates, FX and credit spreads as per December 7 release; GDP, unemployment forecasts updated per December 16. 2 Year 1 equals fourth quarter of 2020 to third quarter of 2021, Year 2 equals fourth quarter of 2021 to third quarter of 2022. Management overlays Management regularly reviews key inputs into the ECL calculation and discusses aspects of potential model imprecision to assess the necessity of corrective measures in the form of overlays. In the following section, the Group provides details on its management overlays recorded as of December 31, 2020 and developments until December 31, 2021. Development of overlays from December 31, 2020 to December 31, 2021 in € m. (unless stated otherwise) Overlays as of December 31, 2020 Discontinued overlays New Overlays Overlays as of December 31, 2021 Overlay description Impact on 3y averaging of specific MEVs All financial assets in Stage 1 and 2 (104) 104 0 0 COVID-19 related downside risks All financial assets in Stage 1 and 2 130 (130) 0 0 Construction Risk following increased prices for building materials Mortgage portfolios in Private Bank in Stage 1 and 2 0 0 15 15 Model calibration (MEV outside calibrated range of the FLI model) All financial assets in Stage 1 and 2 0 0 56 56 Recalibrations required due to the new Definition of Default Financial assets primarily in Private Bank in Stage 3 0 0 (57) (57) Total 26 (26) 14 14 The Group applied the following overlays to its IFRS 9 model output as of December 31, 2021 and December 31, 2020. – – € 130 million – € 15 million – € 56 million – € 57 million Model Sensitivity Macroeconomic Variables The sensitivity of our model with respect to potential changes in projections for key MEVs is shown in the below table, which provides ECL impacts for Stages 1 and 2 from downward and upward shifts applied separately to each group of MEVs. Each of these groups consists of MEVs from the same category: – – – – – – The tables below present the impact of upward and downward shifts to each of the MEV groups and impact on the ECL provision as of December 31, 2021. Note the sensitivity analysis only includes the impact of the aggregated MEV group (i.e. potential correlation between different MEV groups or the impact of management overlays is not taken into consideration). As the Group refined its forward-looking information model in 2021 to include a more granular approach to its portfolio segmentation, the prior year information is not directly comparable as 2020 is based on a less granular approach. ECL for Stage 3 is not affected and not reflected in the following tables as its modelling is independent of the macroeconomic scenarios IFRS 9 – Sensitivities of Forward-Looking Information – Group Level December 31, 2021 Upward sensitivity Downward sensitivity Upward shift ECL impact Downward shift ECL impact GDP growth rates 1pp (49.4) (1)pp 55.5 Unemployment rates (0.5)pp (23.8) 0.5pp 25.4 Real estate prices 5% (3.9) (5)% 4.2 Equities 10% (7.2) (10)% 9.4 Credit spreads (40)% (20.9) 40% 23.5 Commodities¹ 10% (15.0) (10)% 16.2 1 Here the sign of the shift applies to oil prices changes. Gold price changes have the opposite sign. 1pp (percentage point), e.g. GDP shifts from 3 % to 4 % // 1 % (percentage change), e.g. Real estate price shifts from 100 to 101. December 31, 2020 Upward sensitivity Downward sensitivity Upward shift ECL impact Downward shift ECL impact GDP growth rates 1pp (93.5) (1)pp 99.1 Unemployment rates (0.5)pp (49.9) 0.5pp 56.4 At divisional level, the analysis was only performed for the period ended December 31, 2021 and revealed GDP growth rates, credit spreads and commodities prices to be the dominant factors for the Investment Bank, whereas the model sensitivity for the Corporate Bank and Private Bank is mainly associated with changes in GDP growth rates and unemployment rates. The model sensitivity table for the Private Bank shows GDP growth rates and unemployment rates only, as the key MEVs relevant to the underlying portfolios. IFRS 9 – Sensitivities of Forward-Looking Information applied on Stage 1 and Stage 2 - Corporate Bank December 31, 2021 Upward sensitivity Downward sensitivity Upward shift ECL impact Downward shift ECL impact GDP growth rates 1pp (12.5) (1)pp 13.7 Unemployment rates (0.5)pp (8.9) 0.5pp 9.6 Real estate prices 5% (0.5) (5)% 0.5 Credit spreads (40)% (4.3) 40% 4.9 Commodities¹ 10% (4.5) (10)% 5.0 ¹ Here the sign of the shift applies to oil prices changes. Gold price changes have the opposite sign. IFRS 9 – Sensitivities of Forward-Looking Information applied on Stage 1 and Stage 2 - Investment Bank December 31, 2021 Upward sensitivity Downward sensitivity Upward shift ECL impact Downward shift ECL impact GDP growth rates 1pp (24.5) (1)pp 27.7 Unemployment rates (0.5)pp (3.7) 0.5pp 4.2 Real estate prices 5% (3.4) (5)% 3.6 Equities 10% (2.4) (10)% 3.1 Credit spreads (40)% (14.4) 40% 15.8 Commodities¹ 10% (10.1) (10)% 10.8 ¹ Here the sign of the shift applies to oil prices changes. Gold price changes have the opposite sign. IFRS 9 – Sensitivities of Forward-Looking Information applied on Stage 1 and Stage 2 - Private Bank December 31, 2021 Upward sensitivity Downward sensitivity Upward shift ECL impact Downward shift ECL impact GDP growth rates 1pp (10.0) (1)pp 10.7 Unemployment rates (0.5)pp (9.7) 0.5pp 9.8 Impact of Lifetime Expected Credit Losses for Stage 1 borrowers As described earlier, the Group uses a mixture of quantitative and qualitative criteria to determine Significant Increase in Credit Risk which require, for affected borrowers, a move to lifetime ECL (Stage 2). If for all Stage 1 borrowers Deutsche Bank were to record lifetime expected credit losses, the Group’s allowance for credit losses amounting to € 5.4 billion 44 % 41 % Stage 3 LGD setting The Group’s allowance for credit losses in Stage 3 for the homogeneous portfolios amounts to € 2.2 billion € 1.9 billion 1 % € 20 million IFRS 9 Model results Based on the above described IFRS 9 model and overlays applied, the Group reported a provision for credit losses of € 515 million € 1.8 billion As discussed above, the Group has applied various management overlays both in 2021 and 2020 to address the downside risks related to COVID-19, but also to address potential model imprecisions driven by a high volatility in MEV’s. € 3 million € 364 million € 104 million € 690 million ‑ € 446 million € 711 million The Group has assessed credit risks and its concentrations related to climate-related risks and how those risks affect the amounts recognized in the Allowance for Credit Losses which are deemed to be immaterial at the end of December 31, 2021. For details on the Group’s accounting policy related to IFRS 9 Impairment, please refer to Note 1 - Significant Accounting Policies and Critical Accounting Estimates of the Consolidated Financial Statements. |
IFRS 9 Application EBA Guidance Default Forbearance IFRS 9 COVID-19 [text block] | IFRS 9 - Application of EBA guidance regarding Default, Forbearance and IFRS 9 in light of COVID-19 measures EBA’s “Statement on the application of the prudential framework regarding Default, Forbearance and IFRS 9 in light of COVID ‑ EBA is further of the view that the public and private moratoria, as a response to COVID-19 pandemic, do not have to be automatically classified as forbearance if the moratoria are not borrower specific, based on the applicable national law or on an industry or sector-wide private initiative agreed and applied broadly by relevant credit institutions. Deutsche Bank has introduced this guidance into its internal risk management processes. |
Legislative and non-legislative moratoria and public guarantee schemes in light of COVID-19 pandemic [text block] | Legislative and non-legislative moratoria and public guarantee schemes in light of COVID-19 pandemic In 2020, the European Banking Association (EBA) issued a “Statement on the application of the prudential framework regarding Default, Forbearance and IFRS 9 in light of COVID-19 measures”, along with guidance on legislative and non-legislative moratoria. The following table provides an overview of active and expired loans and advances subject to EBA-compliant moratoria, loans and advances subject to COVID-19 related forbearance measures and newly originated loans and advances subject to a public guarantee scheme in the context of the COVID-19 pandemic as of December 31, 2021 and December 31, 2020. Overview of active and expired moratoria, forbearance measures and guarantee schemes in light of COVID-19 pandemic Dec 31, 2021 Dec 31, 2020 in € m. Loans and advances subject to EBA-compliant moratoria Loans and advances subject to COVID-19-related forbearance measures Newly originated loans and advances subject to public guarantee schemes in the context of the COVID-19 crisis 1 Loans and advances subject to EBA-compliant moratoria Other loans and advances subject to COVID-19-related forbearance measures Newly originated loans and advances subject to public guarantee schemes in the context of the COVID-19 crisis Corporate Bank 519 2,466 2,322 610 2,956 2,362 Investment Bank 108 3,501 60 107 4,353 60 Private Bank 6,357 928 1,570 7,499 1,114 1,124 Capital Release Unit 384 2 0 433 0 0 Total 7,368 6,897 3,952 8,649 8,424 3,546 1 Excluding € 0.3 billion € 0.3 billion Breakdown of COVID-19 related measures by stages Dec 31, 2021 Legislative and non-legislative Moratoria COVID-19 related forbearance measures Public guarantee schemes in € m. Gross Carrying Amount Expected Credit Losses Gross Carrying Amount Expected Credit Losses Gross Carrying Amount Expected Credit Losses Stage 1 5,381 (10) 3,330 (6) 3,079 (2) Stage 2 1,288 (30) 2,602 (31) 770 (9) Stage 3 698 (162) 965 (122) 103 (14) Total 7,368 (202) 6,897 (158) 3,952 (25) Dec 31, 2020 Legislative and non-legislative Moratoria COVID-19 related forbearance measures Public guarantee schemes in € m. Gross Carrying Amount Expected Credit Losses Gross Carrying Amount Expected Credit Losses Gross Carrying Amount Expected Credit Losses Stage 1 6,464 (23) 5,746 (18) 3,135 (3) Stage 2 1,872 (63) 1,994 (54) 360 (4) Stage 3 313 (69) 684 (80) 51 (4) Total 8,649 (155) 8,424 (152) 3,546 (11) COVID-19 related forbearance measures: As of December 31, 2021, COVID-19 forbearance measures have been granted to € 6.9 billion 84 % EBA-compliant moratoria can be divided into legislative moratoria, which are instituted by the Government and non-legislative moratoria granted by a group of financial institutions. EBA-compliant moratoria: The moratorium for SMEs and Corporates in Italy was originally scheduled to end on September 30, 2020, but has been further extended until December 2021. Also, the Spanish government extended the legislative Spanish moratoria for SMEs and Corporates until the end of 2021. Non-legislative moratoria: The non-legislative moratoria launched in Italy to support consumer finance clients from January 2021 until the end of March 2021 have all expired. During 2021, the number of clients and volumes under moratoria have significantly reduced due to repayments, from peak levels in the second quarter 2020. As of December 31, 2021, nearly all moratoria have expired, those that are still active are well below € 30 million 95 % Newly originated loans and advances subject to a public guarantee scheme: The Group has originated approximately € 4.2 billion € 2.1 billion € 0.3 billion € 1.6 billion € 0.5 billion 99 % |
Measuring credit risk paragraph 1 [text block] | Measuring Credit Risk Credit Risk is measured by credit rating, regulatory and internal capital demand and key credit metrics mentioned below. The credit rating is an essential part of the Bank’s underwriting and credit process and builds the basis for risk appetite determination on a counterparty and portfolio level, credit decision and transaction pricing as well the determination of regulatory capital demand for credit risk. Each counterparty must be rated and each rating has to be reviewed at least annually. Ongoing monitoring of counterparties helps keep ratings up-to-date. There must be no credit limit without a credit rating. For each credit rating the appropriate rating approach has to be applied and the derived credit rating has to be established in the relevant systems. Different rating approaches have been established to best reflect the specific characteristics of exposure classes, including central governments and central banks, institutions, corporates and retail. Counterparties in our non-homogenous portfolios are rated by our independent Credit Risk Management function. Country risk related ratings are provided by ERM Risk Research. Our rating analysis is based on a combination of qualitative and quantitative factors. When rating a counterparty we apply in-house assessment methodologies, scorecards and our 21-grade rating scale for evaluating the credit-worthiness of our counterparties. |
Measuring credit risk paragraph 2 [text block] | Besides the credit rating, which is a key component we apply for managing our credit portfolio, including transaction approval and the setting of risk appetite, we establish credit limits for all credit exposures. Credit limits set forth maximum credit exposures we are willing to assume over specified periods. In determining the credit limit for a counterparty, we consider the counterparty’s credit quality by reference to our internal credit rating. Credit limits and credit exposures are both measured on a gross and net basis where net is derived by deducting hedges and certain collateral from respective gross figures. For derivatives, we look at current market values and the potential future exposure over the relevant time horizon which is based upon our legal agreements with the counterparty. We also take into consideration the risk-return characteristics of individual transactions and portfolios. Risk-Return metrics explain the development of client revenues as well as capital consumption. |
Managing and Mitigation of credit risk paragraph 1 [text block] | Managing and mitigation of Credit Risk Managing Credit Risk on counterparty level Credit-related counterparties are principally allocated to credit officers within credit teams which are organized by types of counterparty (such as financial institutions, corporates or private individuals) or economic area (e.g., emerging markets) and supported by dedicated rating analyst teams where deemed necessary. The individual credit officers have the relevant expertise and experience to manage the credit risks associated with these counterparties and their associated credit related transactions. For retail clients, credit decision making and credit monitoring is highly automated for efficiency reasons. Credit Risk Management has full oversight of the respective processes and tools used in these highly automated retail credit processes. It is the responsibility of each credit officer to undertake ongoing credit monitoring for their allocated portfolio of counterparties. We also have procedures in place intended to identify at an early stage credit exposures for which there may be an increased risk of loss. In instances where we have identified counterparties where there is a concern that the credit quality has deteriorated or appears likely to deteriorate to the point where they present a heightened risk of loss in default, the respective exposure is generally placed on a “watchlist”. We aim to identify counterparties that, on the basis of the application of our risk management tools, demonstrate the likelihood of problems well in advance in order to effectively manage the credit exposure and minimize potential losses. The objective of this early warning system is to address potential problems while adequate options for action are still available. This early risk detection is a tenet of our credit culture and is intended to ensure that greater attention is paid to such exposures. Credit limits are established by the Credit Risk Management function via the execution of assigned credit authorities. This also applies to settlement risk that must fall within limits pre-approved by Credit Risk Management considering risk appetite and in a manner that reflects expected settlement patterns for the subject counterparty. Credit approvals are documented by the signing of the credit report by the respective credit authority holders and retained for future reference. Credit authority is generally assigned to individuals as personal credit authority according to the individual’s professional qualification, experience and training. All assigned credit authorities are reviewed on a periodic basis to help ensure that they are commensurate with the individual performance of the authority holder. Where an individual’s personal authority is insufficient to establish required credit limits, the transaction is referred to a higher credit authority holder or where necessary to an appropriate credit committee. Where personal and committee authorities are insufficient to establish appropriate limits, the case is referred to the Management Board for approval. Mitigation of Credit Risk on counterparty level In addition to determining counterparty credit quality and our risk appetite, we also use various credit risk mitigation techniques to optimize credit exposure and reduce potential credit losses. Credit risk mitigants are applied in the following forms: – – – – – Collateral We regularly agree on collateral to be received from customers that are subject to credit risk or to be provided by third parties agreed by legally effective and enforceable contracts, documented by a written and reasoned legal opinion. Collateral is credit protection in the form of (funded) assigned or pledged assets or (unfunded) third-party obligations that serves to mitigate the inherent risk of credit loss in an exposure, by either substituting the counterparty default risk or improving recoveries in the event of a default. We generally take all types of valuable and eligible collateral for our respective businesses but may limit accepted collateral types for specific businesses or regions as customary in the respective market or driven by purpose of efficiency. While collateral can be an alternative source of repayment, it does not replace the necessity of high quality underwriting standards and a thorough assessment of the debt service ability of the counterparty in line with CRR Article 194 (9). We segregate collateral received into the following two types: – – Our processes seek to ensure that the collateral we accept for risk mitigation purposes is of high quality. This includes processes to generally ensure legally effective and enforceable documentation for realizable and measurable collateral assets which are evaluated within the on-boarding process by dedicated internal appraisers or teams with the respective qualification, skills and experience or adequate external valuers mandated in regulated processes. The applied valuations follow generally accepted valuation methods or models. Ongoing correctness of values is monitored by collateral type specific appropriate frequent and event-driven reviews considering relevant risk parameters. Revaluations are applied in cases of identified probable material deterioration and future monitoring may be adjusted respectively. The assessment of the suitability of collateral for a specific transaction is part of the credit decision and must be undertaken in a conservative way, including collateral haircuts that are applied. We have collateral type specific haircuts in place which are regularly reviewed and approved. In this regard, we strive to avoid “wrong-way” risk characteristics where the counterparty’s risk is positively correlated with the risk of deterioration in the collateral value. For guarantee collateral, the process for the analysis of the guarantor’s creditworthiness is aligned to the credit assessment process for counterparties. The valuation of collateral is considered under a liquidation scenario. Liquidation value is equal to the expected proceeds of collateral monetization/realization in a base case scenario, wherein a fair price is achieved through careful preparation and orderly liquidation of the collateral. Collateral can either move in value over time (dynamic value) or not (static value). The dynamic liquidation value generally includes a safety margin or haircut over realizable value to address liquidity and marketability aspects. The Group assigns a liquidation value to eligible collateral, based on, among other things: – – – – – – – Collateral haircut settings are typically based on available historic internal and/or external recovery data (expert opinions may also be used, where appropriate). They also incorporate a forward-looking component in the form of collection and valuation forecast provided by experts within Risk Management. Considering the expected proceeds from the liquidation of the different collateral types, respective value fluctuations, market specific liquidation costs and time applied haircuts vary between 0 to 100 %. When data is not sufficiently available or inconclusive, more conservative haircuts than otherwise used must be applied. Haircut settings are reviewed at least annually. |
Managing and Mitigation of credit risk paragraph 2 [text block] | In order to reduce the credit risk resulting from OTC derivative transactions, where CCP clearing is not available, we regularly seek the execution of standard master agreements (such as master agreements for derivatives published by the International Swaps and Derivatives Association, Inc. (ISDA) or the German Master Agreement for Financial Derivative Transactions) with our counterparties. A master agreement allows for the close-out netting of rights and obligations arising under derivative transactions that have been entered into under such a master agreement upon the counterparty’s default, resulting in a single net claim owed by or to the counterparty. Payment netting may be agreed from time to time with our counterparties for multiple transactions having the same payment dates (e.g., foreign exchange transactions) pursuant to the terms of master agreements which can, reduce our settlement risk. In our risk measurement and risk assessment processes we apply close-out netting only to the extent we have concluded that the master agreement is legally valid and enforceable in all relevant jurisdictions and the recognition of close-out netting has been approved in accordance with the Bank’s Netting Policies. We also enter into credit support annexes (CSAs) to master agreements in order to further reduce our derivatives-related credit risk. These annexes generally provide risk mitigation through periodic, usually daily, margining of the covered exposure. The CSAs also provide for the right to terminate the related derivative transactions upon the counterparty’s failure to honor a margin call. As with netting, when we believe the annex is enforceable, we reflect this in our exposure measurement. |
Managing and Mitigation of credit risk paragraph 3 [text block] | Concentrations within Credit Risk mitigation Concentrations within credit risk mitigations taken may occur if a number of guarantors and credit derivative providers with similar economic characteristics are engaged in comparable activities with changes in economic or industry conditions affecting their ability to meet contractual obligations. Concentration risk may also occur in collateral portfolios (e.g. multiple claims and receivables against third parties) which are considered conservatively within the valuation process and/or on-site inspections where applicable. We use a range of tools and metrics to monitor our credit risk mitigating activities and associated concentrations. |
Managing and Mitigation of credit risk paragraph 4 [text block] | Managing Credit Risk on portfolio level Enterprise Risk & Credit Risk Portfolio Management (ER & CR PM) sets the framework for the management of concentration risks at a portfolio level. This includes strategically setting, monitoring and reviewing credit risk appetites across various dimensions such as Group, Division, Business Unit, Legal Entity, Branch, Asset Class, Country, and Industry level that need to be considered in the context of credit approvals. In addition, ER & CR PM also provides a comprehensive and holistic view of the Bank’s risk profile across risk types. On a portfolio level, significant concentrations of credit risk could result from having material exposures to a number of counterparties with similar economic characteristics, or who are engaged in comparable activities, where these similarities may cause their ability to meet contractual obligations to be affected in the same manner by changes in economic or industry conditions. Our portfolio management framework supports a comprehensive assessment of concentrations within our credit risk portfolio in order to keep concentrations within acceptable levels. Industry risk management To manage industry risk, we have grouped our corporate and financial institutions counterparties into various industry sub-portfolios. Portfolios are regularly reviewed with the frequency of review dependent on portfolio size and risk profile as well as risk developments. Larger / riskier portfolios are reviewed at least on an annual basis. Reviews highlight industry developments and risks to our credit portfolio, review cross-risk concentration risks, analyze the risk/reward profile of the portfolio and incorporate the results of an economic downside stress test. Finally, this analysis is used to define the credit strategies for the portfolio in question. In our Industry Limit framework, thresholds are established for aggregate credit limits to counterparties within each industry sub-portfolio. For risk management purposes, the aggregation of limits across industry sectors follows an internal risk view that does not have to be congruent with NACE (Nomenclature des Activities Economiques dans la Communate Europeenne) code-based view applied elsewhere in this report. Regular overviews are prepared for the Enterprise Risk Committee to discuss recent developments and to agree on actions where necessary. Beyond credit risk, our Industry Risk Framework comprises of thresholds for Traded Credit Positions while key non-financial risks are closely monitored. Country risk management Avoiding undue concentrations from a regional perspective is also an integral part of our credit risk management framework. In order to achieve this, country risk thresholds are applied to Emerging Markets as well as selected Developed Markets countries (based on internal country risk ratings). Emerging Markets are divided into regions. Similar to industry risk, country portfolios are regularly reviewed with the frequency of review dependent on portfolio size and risk profile as well as risk developments. Larger / riskier portfolios are reviewed at least on an annual basis. These reviews assess key macroeconomic developments and outlook, review portfolio composition and quality, cross-risk concentration risks and analyze the risk/reward profile of the portfolio. Based on this, country risk appetite and strategies are set. In our Country Risk Framework, thresholds are established for counterparty credit risk exposures in each country to manage the aggregated credit risk subject to country-specific economic and political events. These thresholds cover exposures to entities incorporated locally and subsidiaries of foreign multinational corporations as well as companies with significant economic or operational dependence on a specific country even though they are incorporated externally. In addition, gap risk thresholds are set to control the risk of loss due to intra-country wrong-way risk exposure. As such, for risk management purposes, the aggregation of exposures across countries follows an internal risk view that may differ from the geographical exposure view applied elsewhere in this report. Beyond credit risk, our Country Risk Framework comprises thresholds for trading positions in Emerging Markets and selective Developed Markets that measure the aggregate market value of traded credit risk positions. For Emerging Markets, thresholds are also set to measure the Profit and Loss impact under specific country stress scenarios on trading positions across the Bank’s portfolio. Furthermore, thresholds are set for capital and intra-group funding exposure of Deutsche Bank entities in above countries given the transfer risk inherent in these cross-border positions. Key non-financial risks are closely monitored. Our country risk ratings represent a key tool in our management of country risk. They include: – – All sovereign and transfer risk ratings are reviewed, at least on an annual basis. Product/Asset class specific risk management Complementary to our counterparty, industry and country risk approach, we focus on product/asset class specific risk concentrations and set limits or thresholds where required for risk management purposes. Specific risk limits are set in particular if a concentration of transactions of a specific type might lead to significant losses under certain conditions. In this respect, correlated losses might result from disruptions of the functioning of financial markets, significant moves in market parameters to which the respective product is sensitive, macroeconomic default scenarios or other factors. Specific focus is put on transactions with underwriting risks where we underwrite commitments with the intention to sell down or distribute part of the risk to third parties. These commitments include the undertaking to provide bank loans for syndication into the debt capital market and bridge loans for the issuance of notes. The inherent risks of being unsuccessful in the distribution of the facilities or the placement of the notes, comprise of a delayed distribution, funding of the underlying loans as well as a pricing risk as some underwriting commitments are additionally exposed to market risk in the form of widening credit spreads. Where applicable, we dynamically hedge this credit spread risk to be within the approved market risk limit framework. A major asset class, in which Deutsche Bank is active in underwriting, is leverage lending, which we mainly execute through our Leveraged Debt Capital Markets (LDCM) business unit. The business model is a fee-based‚ originate to distribute approach focused on the distribution of largely unfunded underwriting commitments into the capital market. The aforementioned risks regarding distribution and credit spread movement apply to this business unit, however, are managed under a range of specific notional as well as market risk limits. The latter require the business to also hedge its underwriting pipeline against market dislocations. The fee-based model of our LDCM business unit includes a restrictive approach to single-name risk concentrations retained on Deutsche Bank‘s balance sheet, which results in a diversified overall portfolio without any material concentrations. The resulting longer-term on-balance sheet portfolio is also subject to a comprehensive credit limit and hedging framework. Deutsche Bank also assumes underwriting risk with respect to Commercial Real Estate (CRE) loans, primarily in the CRE business unit in the Investment Bank where loans may be originated with the intent to securitize in the capital markets or syndicate to other lenders. The aforementioned inherent underwriting risks such as delayed distribution and pricing risk are managed through notional caps, market risk limits and hedging against the risk of market dislocations. In addition to underwriting risk, we also focus on concentration of transactions with specific risk dynamics (including risk to commercial real estate and risk from securitization positions). In addition, our Private Bank and certain Corporate Bank businesses are managed via product-specific strategies setting our risk appetite for portfolios with similar credit risk characteristics, such as the retail portfolios of mortgages and consumer finance products as well as products for business clients. Here risk analyses are performed on portfolio level including further breakdown into Business Units as well as Countries / Regions. Analysis for individual clients is of secondary importance. In Wealth Management, target levels are set for global concentrations along products as well as based on type and liquidity of collateral. |
Focus Industries in light of COVID-19 Pandemic [text block] | Focus Industries in light of COVID-19 Pandemic The recovery of the global economy has accelerated along with progress of COVID-19-vaccination in 2021 in key economies, which is expected to continue supporting corporate earnings. However, there continues to be a significant dispersion in the recovery between sectors with certain industries seeing more persistent impacts from the COVID-19 pandemic and the surge of infections due to the global spread of the Omicron variant. As oil and gas prices have increased above pre-COVID-19 levels in the 2 nd Key focus sectors accounted for approximately 8 % 27 % – € 31 billion € 27 billion 7 % € 19 billion € 6 billion € 6 billion 59 % – € 4 billion € 4 billion – € 3 billion € 3 billion – € 2 billion € 2 billion |
Market Risk Management [Abstract] | |
Market Risk Framework [text block] | Market Risk Management Market Risk framework The vast majority of our businesses are subject to market risk, defined as the potential for change in the market value of our trading and invested positions. Risk can arise from changes in interest rates, credit spreads, foreign exchange rates, equity prices, commodity prices and other relevant parameters, such as market volatility and market implied default probabilities. The market risk can affect accounting, economic and regulatory views of our exposure. Market Risk Management is part of our independent Risk function and sits within the Market and Valuations Risk Management group. One of the primary objectives of Market Risk Management is to ensure that our business units’ risk exposure is within the approved risk appetite commensurate with its defined strategy. To achieve this objective, Market Risk Management works closely together with risk takers (“the business units”) and other control and support groups. We distinguish between three substantially different types of market risk: – – – Market Risk Management governance is designed and established to promote oversight of all market risks, effective decision-making and timely escalation to senior management. Market Risk Management defines and implements a framework to systematically identify, assess, monitor and report our market risk. Market risk managers identify market risks through active portfolio analysis and engagement with the business units. |
Trading Market Risk [text block] | Trading Market Risk Our primary mechanism to manage trading market risk is the application of our risk appetite framework of which the limit framework is a key component. Our Management Board, supported by Market Risk Management, sets group-wide value-at-risk, economic capital and portfolio stress testing limits for market risk in the trading book. Market Risk Management allocates this overall appetite to our Corporate Divisions and their individual business units based on established and agreed business plans. We also have business aligned heads within Market Risk Management who establish business unit limits, by allocating the limit down to individual portfolios, geographical regions and types of market risks. Value-at-risk, economic capital and portfolio stress testing limits are used for managing all types of market risk at an overall portfolio level. As an additional and important complementary tool for managing certain portfolios or risk types, Market Risk Management performs risk analysis and business specific stress testing. Limits are also set on sensitivity and concentration/liquidity, exposure, business-level stress testing and event risk scenarios, taking into consideration business plans and the risk vs return assessment. Business units are responsible for adhering to the limits against which exposures are monitored and reported. The market risk limits set by Market Risk Management are monitored on a daily, weekly and monthly basis, dependent on the risk management tool being used. |
Value-at-Risk [text block] | Internally developed Market Risk Models VaR is a quantitative measure of the potential loss (in value) of Fair Value positions due to market movements that should not be exceeded in a defined period of time and with a defined confidence level. Our value-at-risk for the trading businesses is based on our own internal model. In October 1998, the German Banking Supervisory Authority (now the BaFin) approved our internal model for calculating the regulatory market risk capital for our general and specific market risks based on a sensitivity based Monte Carlo approach. In October 2020, the ECB approved a significant change to our VaR model, now a Historical Simulation approach predominantly utilizing full revaluation, although some portfolios remain on a sensitivity based approach. The new approach is used for both Risk Management and capital requirements. The new approach provides more accurate modelling of our risks, enhances our analysis capabilities and provides a more effective tool for risk management. Aside from enabling a more accurate view of market risk, the implementation of Historical Simulation VaR has brought about an even closer alignment of our market risk systems and models to our end of day pricing. Risk management VaR is calibrated to a 99 % confidence level and a one day holding period. This means we estimate there is a 1 in 100 chance that a mark-to-market loss from our trading positions will be at least as large as the reported VaR. For regulatory capital purposes, our VaR model is calibrated to a 99 % confidence interval and a ten day holding period. The calculation employs a Historical Simulation technique that uses one year of historical market data as input and observed correlations between the risk factors during this one year period. Our VaR model is designed to take into account a comprehensive set of risk factors across all asset classes. Key risk factors are swap/government curves, index and issuer-specific credit curves, single equity and index prices, foreign exchange rates, commodity prices as well as their implied volatilities. To help ensure completeness in the risk coverage, second order risk factors, e.g. money market basis, implied dividends, option-adjusted spreads and precious metals lease rates are also considered in the VaR calculation. The list of risk factors include in the VaR model is reviewed regularly and enhanced as part of ongoing model performance reviews. The model incorporates both linear and, especially for derivatives, nonlinear impacts predominantly through a full revaluation approach but it also utilizes a sensitivity-based approach for certain portfolios. The full revaluation approach uses the historical changes to risk factors as input to pricing functions. Whilst this approach is computationally expensive, it does yield a more accurate view of market risk for nonlinear positions, especially under stressed scenarios. The sensitivity based approach uses sensitivities to underlying risk factors in combination with historical changes to those risk factors. For each business unit a separate VaR is calculated for each risk type, e.g. interest rate risk, credit spread risk, equity risk, foreign exchange risk and commodity risk. “Diversification effect” reflects the fact that the total VaR on a given day will be lower than the sum of the VaR relating to the individual risk types. Simply adding the VaR figures of the individual risk types to arrive at an aggregate VaR would imply the assumption that the losses in all risk types occur simultaneously. The VaR enables us to apply a consistent measure across our fair value exposures. It allows a comparison of risk in different businesses, and also provides a means of aggregating and netting positions within a portfolio to reflect correlations and offsets between different asset classes. Furthermore, it facilitates comparisons of our market risk both over time and against our daily trading results. When using VaR results a number of considerations should be taken into account. These include: – – – th – – |
Stressed Value-at-Risk [text block] | Stressed Value-at-Risk Stressed Value-at-Risk (SVaR) calculates a stressed value-at-risk measure based on a one year period of significant market stress. We calculate a stressed value-at-risk measure using a 99 % confidence level. Stressed VaR is calculated with a holding period of ten days. Our SVaR calculation utilizes the same systems, trade information and processes as those used for the calculation of value-at-risk. The only difference is that historical market data and observed correlations from a period of significant financial stress (i.e., characterized by high volatilities) is used as an input for the Historical Simulation |
Incremental Risk Charge [text block] | Incremental Risk Charge Incremental Risk Charge captures default and credit rating migration risks for credit-sensitive positions in the trading book. We use a Monte Carlo Simulation for calculating incremental risk charge as the 99.9 % quantile of the portfolio loss distribution over a one-year capital horizon under a constant position approach and for allocating contributory incremental risk charge to individual positions. |
Nontrading Market Risk [text block] | Nontrading Market Risk Nontrading market risk arises primarily from activities outside of our trading units, in our banking book, and from certain off-balance sheet items, embedding considerations of different accounting treatments of transactions. Significant market risk factors the Group is exposed to and are overseen by risk management groups in that area are: – – |
Nontrading Market Risk Economic Capital [text block] | Nontrading Market Risk Economic Capital Nontrading market risk economic capital is calculated either by applying the standard traded market risk EC methodology or through the use of non-traded market risk models that are specific to each risk class and which consider, among other factors, historically observed market moves, the liquidity of each asset class, and changes in client’s behavior in relation to products with behavioral optionalities |
Liquidity Risk Management [Abstract] | |
Liquidity Risk Management Framework [text block] | Liquidity Risk Management Liquidity risk arises from our potential inability to meet payment obligations when they come due or without incurring excessive costs. The group liquidity risk management framework should ensure that the guidance and controls are established within DB Group to fulfil its payment obligations at all times (including intraday) and can manage its liquidity and funding risks within the MB approved Risk Appetite, when executing the Bank’s strategy. The framework considers relevant and significant drivers of liquidity risk, whether on-balance sheet or off-balance sheet. Liquidity Risk Management framework The bank’s liquidity risk management principles are documented in the globally applicable “Liquidity Risk Management Policy” (LRMP) and adheres to the 8 key risk management practices (Risk governance, Risk Organization (3 LoD), Risk Culture, Risk Appetite and strategy, Risk Identification and assessment, Mitigation and controls, Risk measurement and reporting, Stress planning and execution). All additional policies and procedures (both global and local) issued by the liquidity risk management functions further define the requirements specific to liquidity risk practices. They are subordinate to this policy and subject to the standards it sets forth. The liquidity managing functions are organized in alignment with the three lines of defense structure set forth in the “Risk Management Policy – Deutsche Bank Group”. Lines of Business and Treasury comprise the first line of defense (“1LoD”) –responsible for executing the steps needed to manage the Bank’s liquidity position. Risk comprises the second line of defense (“2LoD”) – responsible for providing independent risk oversight, challenge, and validation of activities conducted by the 1LoD including establishing the Risk Appetite and Group level control standards. Group Audit comprises the third line of defense (“3LoD”) - responsible for overseeing the activities of both the 1LoD and 2LoD.The individual roles and responsibilities within the Liquidity Risk Management Framework have been laid out and documented in the Global Responsibility Matrix which was designed to provide clarity and transparency across all involved stakeholders. In accordance with the ECB’s SREP (and revised ILAAP requirement issued in November 2018), Deutsche Bank has implemented an Internal Liquidity Adequacy Assessment Process (ILAAP), which is reviewed at least annually and approved by the Management Board. Liquidity Risk Management (LRM) undertakes ongoing oversight on activities conducted within the mandate of Treasury Liquidity Management (TSY-LM) to most effectively manage the liquidity of the group and steer business activities, while ensuring the bank’s Risk Appetite is adhered to. The ILAAP provides comprehensive documentation and assessment of the Bank’s Liquidity Risk Management framework, which includes: identifying the key liquidity and funding risks to which the Group is exposed; describing how these risks are identified, monitored and measured; and describing the techniques and resources used to manage and mitigate these risks. The Management Board defines the liquidity and funding risk strategy for the Bank as well as the risk appetite, based on recommendations made by the Group Asset and Liability Committee (ALCO) and Group Risk Committee (GRC). The Management Board reviews and approves the risk appetite at least annually. The risk appetite is applied to the Group and Key Liquidity Entities (KLE) e.g. DB AG to monitor and control liquidity risk as well as the Bank’s long-term funding and issuance plan. The Bank’s Liquidity Risk Appetite, which is defined through qualitative principles and supporting quantitative metrics, is laid out in the “Risk Appetite Statement – DB Group” and is subject to the standards set in the “Risk Appetite Policy – DB Group”. This Risk Appetite Statement is further underpinned by the Liquidity Risk Controls Framework consisting of Risk Appetite Limits, as well as a suite of Non-Risk Appetite Limits, Thresholds and Early Warning Indicators (EWI) defined in the Liquidity Risk Controls Policy. Deutsche Bank has a dedicated Stress Testing and Risk Appetite Framework set by LRM, which ensures the Bank’s liquidity position is balanced across the Group, its KLEs and across currencies. Treasury manages liquidity and funding, in accordance with the Management Board-approved risk appetite across a range of relevant metrics and implements a number of tools including business level limits, to ensure compliance. As such, Treasury works closely with LRM and business divisions to identify, analyze and monitor underlying liquidity risk characteristics within business portfolios. These parties are engaged in regular dialogue regarding changes in the Bank’s liquidity position arising from business activities and market circumstances. Furthermore, the Bank ensures at the level of each liquidity relevant entity that all local liquidity metrics are managed in compliance with the defined risk appetite. Local liquidity surpluses are pooled in DB AG hubs and local liquidity shortfalls can be met through support from DB AG hubs. Transfers of liquidity capacity between entities are subject to the approval framework outlined in the “Intercompany Funding Policy” involving the Group’s liquidity steering function as well as the local liquidity managers considering the LCR, NSFR (Pillar 1) and sNLP (Pillar 2), available surplus that resides in entities with restriction to transfer liquidity to other group entities, for example due to regulatory lending requirements, is considered to be trapped and as such not counted in the calculation of the consolidated group liquidity surplus. The Management Board is informed about the Bank’s performance against the key liquidity metrics, including the Risk Appetite and internal and market indicators, via a weekly Liquidity Dashboard. Liquidity & Treasury Reporting & Analysis (LTRA) has overall accountability for the accurate and timely production of both external regulatory liquidity reporting and the internal management reporting of liquidity risk for DB Group. In addition, LTRA is responsible for the development of management information systems (MIS) and related analysis necessary for supporting the liquidity risk framework and its governance for Treasury and LRM. As part of the annual strategic planning process, Treasury projects the development of the key liquidity and funding metrics including the USD currency exposure based on anticipated business activity to ensure that the strategic plan remains aligned with the Bank’s Risk Appetite. Deutsche Bank has a wide range of funding sources, including retail and institutional deposits, unsecured and secured wholesale funding and debt issuance in the capital markets. Group ALCo is the Bank’s decisive governing body mandated by the Management Board to optimize the sourcing and deployment of the Bank’s balance sheet and financial resources in line with the Management Board risk appetite and strategy. As such, it has the overarching responsibility to define, approve and optimize the Bank`s funding strategy. Deutsche Bank’s Group Contingency Funding Plan (CFP) outlines how the bank would respond to an actual or anticipated liquidity stress event. It includes a decisive set of actions that can be taken to raise cash and recover the bank’s key liquidity metrics in times of liquidity stress. The CFP includes a clear governance structure and well-defined liquidity risk indicators to ensure timely and effective decision-making, communication, and coordination during a liquidity stress event. Deutsche Bank has established the Financial Resource Management Council (FRMC) which is responsible for oversight of capital and liquidity across contingency, recovery, and resolution scenarios in a crisis situation. |
Short-term liquidity and wholesale funding [text block] | Short-term liquidity and wholesale funding Deutsche Bank tracks all contractual cash flows from wholesale funding sources on a daily basis, over a 12-month horizon. For this purpose, the Bank considers wholesale funding to include unsecured liabilities largely raised by Treasury Markets Pool, as well as secured liabilities primarily raised by the Investment Bank Division. Wholesale funding counterparties typically include corporates, banks and other financial institutions, governments and sovereigns. The Group has implemented a set of limits to restrict the Bank’s exposure to wholesale counterparties, which have historically demonstrated the most susceptibility to market stress. The wholesale funding limits are monitored daily and apply to the total combined currency amount of all wholesale funding currently outstanding, both secured and unsecured with specific tenor limits. Liquidity Reserves constitute the primary mitigants against potential stress in the short-term. The tables in the section “Liquidity Risk Exposure: Funding Diversification” show the contractual maturity of the Bank’s short-term wholesale funding and capital markets issuance. |
Liquidity stress testing and scenario analysis [text block] | Liquidity stress testing and scenario analysis Global internal liquidity stress testing and scenario analysis is used for measuring liquidity risk and evaluating the Group’s short-term liquidity position within the liquidity framework. This complements the daily operational cash management process. The long-term liquidity strategy based on contractual and behavioral modelled cash flow information is represented by a long-term metric known as the Funding Matrix (refer to Funding Risk Management below). The global liquidity stress testing process is managed by Treasury in accordance with the Management Board approved risk appetite. Treasury is responsible for the design of the overall methodology, the choice of liquidity risk drivers and the determination of appropriate assumptions (parameters) to translate input data into stress testing output. LRM is responsible for the definition of the stress scenarios. Under the principles laid out by Model Risk Management, LRM performs the independent validation of liquidity risk models and non-model estimates. LTRA is responsible for implementing these methodologies and performing the stress test calculation in conjunction with Treasury, LRM and IT. Stress testing and scenario analysis are used to evaluate the impact of sudden and severe stress events on the Group’s liquidity position. Deutsche Bank has selected four scenarios to calculate the Group’s stressed Net Liquidity Position (“sNLP”). These scenarios are designed to capture potential outcomes which may be experienced by Deutsche Bank during periods of idiosyncratic and/or market-wide stress and are designed to be both plausible and sufficiently severe as to materially impact the Group’s liquidity position. The most severe scenario assesses the potential consequences of a combined market-wide and idiosyncratic stress event, including downgrades of our credit rating. Under each of the scenarios the impact of a liquidity stress event over different time horizons and across multiple liquidity risk drivers, covering all business lines, product areas and balance sheet is considered. The output from scenario analysis feeds the Group Wide Stress Test, which considers the impact of scenarios on all risk stripes. In addition, potential funding requirements from contingent liquidity risks which might arise under stress, including drawdowns on credit facilities, increased collateral requirements under derivative agreements, and outflows from deposits with a contractual rating linked trigger are included in the analysis. Subsequently Countermeasures, which are the actions the Group would take to counterbalance the outflows incurred during a stress event, are taken into consideration. Those countermeasures include utilizing the Bank’s Liquidity Reserve and generating liquidity from other unencumbered, marketable assets without causing any material impact on the Bank’s business model. Stress testing is conducted at a global level and for defined Key Liquidity Entities covering an eight-week stress horizon which is considered the most critical time span during a liquidity crisis and, where, on a Group level, liquidity is actively steered and assessed. In addition to the consolidated currency stress test, stress tests for material currencies (EUR, USD and GBP) are performed. On a global level and in the U.S. liquidity stress tests cover a 12 months period. Additionally we also monitor the stress test results over a 12 month period with specific risk limits if required by local regulators. Ad-hoc analysis may be conducted to reflect the impact of potential downside events that could affect the Bank such as the COVID-19 pandemic. Relevant stress assumptions are applied to reflect liquidity flows from risk drivers and on-balance sheet and off-balance sheet products. The suite of stress testing scenarios and assumptions are reviewed on a regular basis and are updated when enhancements are made to stress testing methodologies. Complementing daily liquidity stress testing, the Bank also conducts regular Group Wide Stress Testing (GWST) run by Enterprise Risk Management (ERM) analyzing liquidity risks in conjunction with the other defined risk types and evaluating their impact and interplay to both capital and liquidity positions as described in Risk and Capital Framework Stress testing. The tables in the section “Liquidity Risk Exposure: Stress Testing and Scenario Analysis” show the results of the internal global liquidity stress test under the various scenarios. |
Funding Risk Management [text block] | Funding Risk Management Deutsche Bank’s primary internal tool for monitoring and managing longer term funding risk is the Funding Matrix. The Funding Matrix assesses the Group’s structural funding profile over a time horizon beyond one year. To produce the Funding Matrix, all funding-relevant assets and liabilities are mapped into time buckets corresponding to their contractual or modeled maturities. This allows the Group to identify expected excesses and shortfalls in term liabilities over assets in each time bucket, facilitating the management of potential liquidity exposures. The liquidity profile is based on contractual cash flow information. If the contractual maturity profile of a product does not adequately reflect the liquidity profile, it is replaced by modeling assumptions. Short-term balance sheet items (<1yr) or matched funded structures (asset and liabilities directly matched with no liquidity risk) are excluded from the term analysis. The bottom-up assessment by individual business line is combined with a top-down reconciliation against the Group’s IFRS balance sheet. From the cumulative term profile of assets and liabilities beyond 1 year, long-funded surpluses or short-funded gaps in the Group’s maturity structure can be identified. The cumulative profile is thereby built up starting from the greater than 10-year bucket down to the greater than 1-year bucket. The strategic liquidity planning process, which incorporates the development of funding supply and demand across business units, together with the Bank’s targeted key liquidity and funding metrics, provides the key input parameter for our annual capital markets issuance plan. Upon approval by the Management Board the capital markets issuance plan establishes issuance targets for securities by tenor, volume, currency and instrument. |
Funding Diversification Management [text block] | Funding Diversification Diversification of the Group’s funding profile in terms of investor types, regions and products is an important element of the liquidity risk management framework. The Bank has minimum risk appetite levels for most stable funding sources stemming from capital markets issuances and equity, as well as from retail, and transaction banking clients. Other customer deposits, secured funding and short positions are additional sources of funding. Unsecured wholesale funding represents unsecured wholesale liabilities sourced primarily by the Treasury Pool Management team. Given the relatively short-term nature of these liabilities, they are predominantly used to fund liquid trading assets. For diversifying our refinancing activities, Deutsche Bank holds a license to issue mortgage Pfandbriefe and maintains a program to issue structured covered bonds. Additionally, the Group continues to run a program for the purpose of issuing covered bonds under Spanish law (Cedulas). DB Group has also participated in ECB’s TLTRO III program. Under the Green Financing Framework Deutsche Bank has issued its first U.S.$ 800 million U.S.$ 400 million The chart “Liquidity Risk Exposure: Funding Diversification” shows the composition of external funding sources that contribute to the liquidity risk position, both in EUR billion and as a percentage of our total external funding sources. |
Liquidity reserves [text block] | Liquidity Reserves Liquidity Reserves comprise available cash and cash equivalents, unencumbered highly liquid securities (including government and agency bonds and government guarantees) and other unencumbered central bank eligible assets. Certain intraday requirements and Mandatory Minimum Reserves are directly deducted in the calculation of the Liquidity Reserves while other intraday outflows are represented in the Group’s internal liquidity model. |
Disclosure of Risk Concentration and Risk Diversification [text block] | Portfolio concentration risk Risk concentrations refer to clusters of the same or similar risk drivers within specific risk types (intra-risk concentrations in credit, market, operational and strategic risks) as well as across different risk types (inter-risk concentrations). They occur within and across counterparties, businesses, regions/countries, industries and products. The management and monitoring of risk concentrations is achieved through a quantitative and qualitative approach, as follows: – – |
Risk Report - Risk Performance
Risk Report - Risk Performance | 12 Months Ended |
Dec. 31, 2021 | |
Maximum Exposure to Credit Risk | |
Maximum Exposure to Credit Risk [text block] | Maximum Exposure to Credit Risk The maximum exposure to credit risk table shows the direct exposure before consideration of associated collateral held and other credit enhancements (netting and hedges) that do not qualify for offset in our financial statements for the periods specified. The netting credit enhancement component includes the effects of legally enforceable netting agreements as well as the offset of negative mark-to-markets from derivatives against pledged cash collateral. The collateral credit enhancement component mainly includes real estate, collateral in the form of cash as well as securities-related collateral. In relation to collateral we apply internally determined haircuts and additionally cap all collateral values at the level of the respective collateralized exposure. Maximum Exposure to Credit Risk Dec 31, 2021 Credit Enhancements in € m. Maximum 1 Subject to Netting Collateral Guarantees 2 Total credit Financial assets at amortized cost 3 Cash and central bank balances 192,025 192,025 − 0 − 0 Interbank balances (w/o central banks) 7,345 7,345 − 0 0 0 Central bank funds sold and securities purchased under resale agreements 8,370 8,370 − 8,070 − 8,070 Securities borrowed 63 63 − 63 − 63 Loans 476,827 476,827 − 247,109 33,353 280,462 Other assets subject to credit risk 4,5 83,313 79,361 30,639 709 206 31,555 Total financial assets at amortized cost 3 767,942 763,990 30,639 255,951 33,559 320,149 Financial assets at fair value through profit or loss 6 Trading assets 97,080 − − 2,217 1,091 3,308 Positive market values from derivative financial instruments 299,732 − 238,412 41,692 37 280,140 Non-trading financial assets mandatory at fair value through profit or loss 87,873 − 2,176 75,960 187 78,324 Of which: Securities purchased under resale agreement 59,931 − 2,176 57,755 0 59,931 Securities borrowed 18,355 − − 17,978 0 17,978 Loans 895 − − 190 187 378 Financial assets designated at fair value through profit or loss 140 − − 0 82 82 Total financial assets at fair value through profit or loss 484,825 − 240,588 119,869 1,398 361,854 Financial assets at fair value through OCI 28,979 28,979 0 1,480 891 2,371 Of which: Securities purchased under resale agreement 1,231 1,231 − 0 0 0 Securities borrowed 0 0 − 0 0 0 Loans 4,370 4,370 − 1,480 891 2,371 Total financial assets at fair value through OCI 28,979 28,979 − 1,480 891 2,371 Financial guarantees and other credit related contingent liabilities 7 59,394 59,394 − 3,077 6,857 9,934 Revocable and irrevocable lending commitments and other credit related commitments 7 227,132 226,454 − 18,545 5,888 24,433 Total off-balance sheet 286,525 285,848 − 21,622 12,746 34,368 Maximum exposure to credit risk 1,568,272 1,078,817 271,227 398,922 48,593 718,742 1 Does not include credit derivative notional sold ( € 491,407 million 2 Bought Credit protection is reflected with the notional of the underlying 3 All amounts at gross value before deductions of allowance for credit losses. 4 All amounts at amortized cost (gross) except for qualifying hedge derivatives, which are reflected at Fair value through P&L 5 Includes Asset Held for Sale regardless of accounting classification. 6 Excludes equities, other equity interests and commodities. 7 Figures are reflected at notional amounts. Dec 31, 2020 Credit Enhancements in € m. Maximum 1 Subject to Netting Collateral Guarantees 2 Total credit Financial assets at amortized cost 3 Cash and central bank balances 166,211 166,211 − 0 − 0 Interbank balances (w/o central banks) 9,132 9,132 − 0 0 0 Central bank funds sold and securities purchased under resale agreements 8,535 8,535 − 8,173 − 8,173 Securities borrowed 0 0 − 0 − 0 Loans 431,503 431,503 − 228,513 30,119 258,632 Other assets subject to credit risk 4,5 96,355 85,106 43,277 902 55 44,234 Total financial assets at amortized cost 3 711,736 700,487 43,277 237,588 30,174 311,039 Financial assets at fair value through profit or loss 6 Trading assets 94,757 − − 2,998 1,248 4,246 Positive market values from derivative financial instruments 343,493 − 262,525 52,329 83 314,937 Non-trading financial assets mandatory at fair value through profit or loss 75,116 − 993 62,036 244 63,273 Of which: Securities purchased under resale agreement 46,057 − 993 44,967 0 45,960 Securities borrowed 17,009 − − 16,730 0 16,730 Loans 2,192 − − 272 244 516 Financial assets designated at fair value through profit or loss 437 − − 0 0 0 Total financial assets at fair value through profit or loss 513,803 − 263,518 117,363 1,575 382,456 Financial assets at fair value through OCI 55,834 55,834 0 1,581 1,153 2,734 Of which: Securities purchased under resale agreement 1,543 1,543 − 0 0 0 Securities borrowed 0 0 − 0 0 0 Loans 4,635 4,635 − 1,581 1,153 2,734 Total financial assets at fair value through OCI 55,834 55,834 − 1,581 1,153 2,734 Financial guarantees and other credit related contingent liabilities 7 47,978 47,978 − 2,327 6,157 8,484 Revocable and irrevocable lending commitments and other credit related commitments 7 215,877 214,898 − 15,345 5,779 21,124 Total off-balance sheet 263,855 262,876 − 17,672 11,936 29,608 Maximum exposure to credit risk 1,545,228 1,019,197 306,795 374,204 44,838 725,837 1 Does not include credit derivative notional sold ( € 395,636 million 2 Bought Credit protection is reflected with the notional of the underlying. 3 All amounts at gross value before deductions of allowance for credit losses. 4 All amounts at amortized cost (gross) except for qualifying hedge derivatives, which are reflected at Fair value through P&L. 5 Includes Asset Held for Sale regardless of accounting classification. 6 Excludes equities, other equity interests and commodities. 7 Figures are reflected at notional amounts. |
Maximum Credit Exposure Paragraph [text block] | Included in the category of trading assets as of December 31, 2021, were traded bonds of € 85.5 billion € 83.5 billion 83 % 84 % Credit Enhancements are split into three categories: netting, collateral and guarantees / credit derivatives. Haircuts, parameter setting for regular margin calls as well as expert judgments for collateral valuation are employed to prevent market developments from leading to a build-up of uncollateralized exposures. All categories are monitored and reviewed regularly. Overall credit enhancements received are diversified and of adequate quality being largely cash, highly rated government bonds and third-party guarantees mostly from well rated banks and insurance companies. These financial institutions are domiciled mainly in European countries and the United States. Furthermore, we have collateral pools of highly liquid assets and mortgages (principally consisting of residential properties mainly in Germany) for the homogeneous retail portfolio. |
Main Credit Exposure [Abstract] | |
Main Credit Exposure Categories by Geographical Region [text block] | Main credit exposure categories by geographical region Dec 31, 2021 Loans Off-balance sheet OTC derivatives in € m. at amortized cost 1 trading - Designated / at fair value 2 Revocable 3 Contingent at fair value 4 Europe 342,179 3,411 702 1,365 129,396 35,814 13,525 Of which: Germany 236,139 407 20 173 73,087 14,388 1,535 United Kingdom 6,331 529 243 297 8,851 2,796 4,480 France 3,581 59 2 55 6,840 2,179 925 Luxembourg 14,195 517 82 53 7,393 713 646 Italy 24,316 227 9 0 3,484 4,510 398 Netherlands 9,383 137 102 384 8,391 2,237 1,226 Spain 16,283 246 0 43 3,215 3,464 668 Ireland 4,652 262 234 72 2,687 210 549 Switzerland 13,083 34 0 110 6,156 2,710 145 Poland 2,293 0 0 16 401 116 14 Belgium 1,426 5 0 76 1,724 578 212 Russian Federation⁸ 806 54 0 51 629 209 27 Ukraine⁸ 109 441 9 0 0 3 22 0 Other Europe⁸ , 9,583 492 10 37 6,535 1,683 2,700 North America 87,628 3,904 132 2,060 87,172 9,411 7,853 Of which: U.S. 73,007 3,156 91 1,836 82,800 8,685 6,839 Cayman Islands 5,709 157 3 0 1,555 80 396 Canada 935 291 0 200 1,977 419 218 Other North America 7,976 301 37 24 839 227 401 Asia/Pacific 40,093 944 185 874 9,151 12,786 2,605 Of which: Japan 1,921 62 108 48 608 519 656 Australia 2,112 264 25 0 2,248 532 257 India 7,948 4 6 18 920 3,440 95 China 5,606 9 0 42 480 1,913 554 Singapore 5,750 127 23 135 1,157 1,566 157 Hong Kong 3,146 89 0 51 1,258 752 181 Other Asia/Pacific 13,610 390 23 581 2,480 4,064 706 Other geographical areas 6,926 931 16 71 1,414 1,383 163 Total 476,827 9,189 1,035 4,370 227,132 59,394 24,146 Dec 31, 2021 Debt Securities Repo and repo-style transactions 7 Total in € m. at amortized cost 5 at fair value at fair value 6 at amortized cost at fair value at fair value Europe 3,464 45,063 7,578 2,745 32,525 484 618,251 Of which: Germany 548 7,152 932 274 3,301 32 337,987 United Kingdom 951 8,604 1,151 571 8,824 0 43,628 France 0 6,482 1,411 5 12,910 0 34,448 Luxembourg 57 2,471 497 0 971 0 27,594 Italy 314 3,655 315 85 729 0 38,042 Netherlands 212 2,157 51 29 38 0 24,347 Spain 74 7,193 199 1,126 500 0 33,012 Ireland 1,143 1,264 3 2 3,158 0 14,237 Switzerland 3 583 4 0 140 0 22,968 Poland 0 73 1,870 0 76 0 4,859 Belgium 33 1,932 805 0 7 0 6,798 Russian Federation⁸ 0 14 36 0 0 0 1,826 Ukraine⁸ 0 2 29 0 0 0 606 Other Europe⁸ , 130 3,481 274 653 1,870 452 27,900 North America 8,618 26,899 10,363 2,551 38,688 0 285,278 Of which: U.S. 8,600 25,959 10,059 517 26,173 0 247,722 Cayman Islands 0 238 0 2,034 11,679 0 21,851 Canada 0 476 235 0 834 0 5,586 Other North America 18 225 69 0 3 0 10,119 Asia/Pacific 2,718 21,369 5,053 2,868 7,000 508 106,154 Of which: Japan 25 2,951 556 0 3,672 0 11,127 Australia 1,597 1,726 510 0 515 0 9,787 India 617 5,067 944 0 253 360 19,670 China 16 1,576 560 0 594 0 11,349 Singapore 9 860 246 0 107 0 10,136 Hong Kong 213 742 246 0 184 0 6,861 Other Asia/Pacific 242 8,447 1,990 2,868 1,675 147 37,224 Other geographical areas 49 2,037 384 268 72 240 13,954 Total 14,849 95,367 23,377 8,433 78,286 1,231 1,023,637 1 Includes stage 3 and stage 3 POCI loans at amortized cost amounting to € 12.4 billion 2 Includes stage 3 and stage 3 POCI loans at fair value through OCI amounting to € 28.1 million 3 Includes stage 3 and stage 3 POCI off-balance sheet exposure amounting to € 2.6 billion 4 Includes the effect of netting agreements and cash collateral received where applicable. Excludes derivatives qualifying for hedge accounting. 5 Includes stage 3 and stage 3 POCI debt securities at amortized cost amounting to € 368.2 million 6 Includes stage 3 and stage 3 POCI debt securities at fair value through OCI amounting to € 15.8 million 7 Before reflection of collateral and limited to securities purchased under resale agreements and securities borrowed. 8 9 10 € 2 million Dec 31, 2020 Loans Off-balance sheet OTC derivatives in € m. at amortized cost 1 trading - Designated / at fair value 2 Revocable 3 Contingent at fair value 4 Europe 317,281 3,092 1,519 1,615 128,440 29,529 20,283 Of which: Germany 224,274 340 57 347 75,531 12,195 1,715 United Kingdom 5,796 160 341 64 9,820 2,327 7,102 France 3,460 65 33 187 6,103 1,383 1,331 Luxembourg 10,097 546 252 0 4,839 1,251 701 Italy 23,442 340 66 0 3,600 3,888 1,854 Netherlands 9,679 79 222 554 9,890 1,727 1,942 Spain 17,134 304 0 28 3,755 2,763 1,094 Ireland 4,173 190 200 127 2,023 200 465 Switzerland 6,817 39 19 150 4,518 1,762 268 Poland 2,421 0 1 0 374 128 17 Belgium 1,133 4 0 53 1,566 679 295 Russian Federation⁸ 665 74 0 57 382 239 17 Ukraine⁸ 280 425 0 0 17 11 0 Other Europe⁸ 7,910 527 327 46 6,021 976 3,480 North America 73,742 3,266 841 1,896 78,079 7,430 9,420 Of which: U.S. 61,137 2,926 784 1,792 73,215 7,033 8,496 Cayman Islands 3,790 113 3 0 2,131 25 246 Canada 887 37 0 91 1,790 47 303 Other North America 7,928 191 54 13 943 326 374 Asia/Pacific 34,194 1,248 237 992 7,813 9,960 2,766 Of which: Japan 1,385 17 0 89 415 483 312 Australia 1,525 258 36 35 1,785 367 542 India 6,355 54 21 32 1,110 2,253 149 China 4,764 6 149 46 684 1,780 658 Singapore 5,309 210 30 28 918 685 248 Hong Kong 2,872 109 0 61 986 671 186 Other Asia/Pacific 11,984 593 0 702 1,914 3,721 670 Other geographical areas 6,286 734 31 133 1,545 1,059 460 Total 431,503 8,339 2,629 4,635 215,877 47,978 32,928 Dec 31, 2020 Debt Securities Repo and repo-style transactions 7 Total in € m. at amortized cost 5 at fair value at fair value 6 at amortized cost at fair value at fair value Europe 2,468 46,446 31,902 2,180 21,696 498 606,947 Of which: Germany 544 8,252 10,467 263 1,078 10 335,074 United Kingdom 890 7,980 2,776 0 11,352 0 48,607 France 2 8,136 5,216 0 5,981 0 31,898 Luxembourg 41 2,509 1,412 0 819 0 22,466 Italy 117 5,908 1,496 108 478 0 41,297 Netherlands 112 3,486 118 0 33 0 27,843 Spain 0 3,053 3,088 1,077 500 0 32,796 Ireland 680 1,415 136 0 396 0 10,004 Switzerland 4 637 4 0 79 0 14,299 Poland 0 112 1,993 0 0 0 5,047 Belgium 40 1,575 1,616 0 5 0 6,966 Russian Federation⁸ 0 42 34 0 0 0 1,510 Ukraine⁸ 0 8 17 0 0 0 758 Other Europe⁸ 38 3,334 3,529 731 975 488 28,381 North America 7,727 27,547 11,798 2,780 31,907 0 256,433 Of which: U.S. 7,351 26,408 11,197 1,814 29,370 0 231,523 Cayman Islands 359 567 0 885 2,086 0 10,206 Canada 0 417 543 0 451 0 4,567 Other North America 16 155 58 81 0 0 10,137 Asia/Pacific 2,431 19,246 5,740 3,353 9,426 646 98,052 Of which: Japan 64 2,807 25 0 6,283 0 11,881 Australia 1,545 2,535 860 0 659 0 10,149 India 349 3,284 2,047 0 128 396 16,177 China 0 3,012 309 0 421 0 11,830 Singapore 78 2,067 472 0 105 0 10,152 Hong Kong 207 725 286 60 12 0 6,175 Other Asia/Pacific 188 4,816 1,740 3,293 1,817 250 31,689 Other geographical areas 0 2,107 216 223 37 399 13,229 Total 12,625 95,347 49,656 8,535 63,066 1,543 974,661 1 Includes stage 3 and stage 3 POCI loans at amortized cost amounting to € 11.9 billion 2 Includes stage 3 and stage 3 POCI loans at fair value through OCI amounting to € 90.3 million 3 Includes stage 3 and stage 3 POCI off-balance sheet exposure amounting to € 2.6 billion 4 5 Includes stage 3 and stage 3 POCI debt securities at amortized cost amounting to € 360.4 million 6 Includes stage 3 and stage 3 POCI debt securities at fair value through OCI amounting to € 15.1 million 7 8 Our largest concentration of credit risk within loans from a regional perspective is in our home market Germany, with a significant share in households, which includes the majority of our mortgage lending and home loan business. Within OTC derivatives, tradable assets as well as repo and repo-style transactions, our largest concentrations from a regional perspective were in Europe and North America . |
Asset Quality [Abstract] | |
Asset Quality Excluding Forborne and Collateral [text block] | Overview of financial assets subject to impairment The following tables provide an overview of the exposure amount and allowance for credit losses by financial asset class broken down into stages as per IFRS 9 requirements. Overview of financial assets subject to impairment Dec 31, 2021 Dec 31, 2020 in € m. Stage 1 Stage 2 Stage 3 Stage 3 Total Stage 1 Stage 2 Stage 3 Stage 3 Total Amortized cost¹ Gross carrying amount 711,021 40,653 11,326 1,297 764,298 651,637 35,372 10,655 1,729 699,393 Allowance for credit losses² 440 532 3,740 182 4,895 544 648 3,614 139 4,946 of which Loans Gross carrying amount 425,342 38,809 10,653 1,272 476,077 385,117 34,537 10,138 1,710 431,501 Allowance for credit losses² 421 530 3,627 177 4,754 522 647 3,506 133 4,808 Fair value through OCI Fair value 28,609 326 44 0 28,979 55,566 163 105 0 55,834 Allowance for credit losses 15 10 16 0 41 12 6 2 0 20 Off-balance sheet Notional amount 268,857 14,498 2,582 11 285,948 251,545 8,723 2,587 1 262,856 Allowance for credit losses³ 108 111 225 0 443 144 74 200 0 419 1 Financial Assets at Amortized Cost consist of: Loans at Amortized Cost, Cash and central bank balances, Interbank balances (w/o central banks), Central bank funds sold and securities purchased under resale agreements, Securities borrowed and certain subcategories of Other assets 2 Allowance for credit losses do not include allowance for country risk amounting to € 4 million € 5 million 3 Allowance for credit losses do not include allowance for country risk amounting to € 6 million € 4 million Financial assets at amortized cost Development of exposures in the current reporting period Dec 31, 2021 Gross carrying amount in € m. Stage 1 Stage 2 Stage 3 Stage 3 POCI Total Balance, beginning of year 651,637 35,372 10,655 1,729 699,393 Movements in financial assets including new business and credit extensions 79,619 7,507 305 (101) 87,330 Transfers due to changes in creditworthiness (155) (1,109) 1,264 0 0 Changes due to modifications that did not result in (1) (0) (16) 0 (17) Changes in models Financial assets that have been derecognized during the period (34,157) (1,891) (1,271) (372) (37,691) Recovery of written off amounts 0 0 55 23 78 Foreign exchange and other changes 14,078 774 333 19 15,204 Balance, end of reporting period 711,021 40,653 11,326 1,297 764,298 Financial assets at amortized cost subject to impairment remained increased by € 64 billion 9 % Stage 1 exposures increased by € 58 billion 9 % Stage 2 exposures increased by € 5 billion 15 % Stage 3 exposures slightly increased by € 240 million 2 % Development of exposures in the previous reporting period Dec 31, 2020 Gross carrying amount in € m. Stage 1 Stage 2 Stage 3 Stage 3 POCI Total Balance, beginning of year 645,967 24,680 7,531 2,150 680,328 Movements in financial assets including new business and credit extensions 79,284 8,215 3,304 (166) 90,637 Transfers due to changes in creditworthiness (7,462) 5,543 1,919 0 0 Changes due to modifications that did not result in (0) (3) (31) 0 (34) Changes in models 0 0 0 0 0 Financial assets that have been derecognized during the period (48,990) (2,268) (1,910) (263) (53,430) Recovery of written off amounts 0 0 58 0 58 Foreign exchange and other changes (17,162) (795) (216) 7 (18,165) Balance, end of reporting period 651,637 35,372 10,655 1,729 699,393 € 19 billion 3 % Stage 1 exposures slightly increased by € 6 billion 1 % Stage 2 exposures increased by € 11 billion 43 % Stage 3 exposures increased by € 2,703 million 28 % Development of allowance for credit losses in the current reporting period Dec 31, 2021 Allowance for Credit Losses ³ in € m. Stage 1 Stage 2 Stage 3 Stage 3 POCI⁴ Total Balance, beginning of year 544 648 3,614 139 4,946 Movements in financial assets including new business and credit extensions (245) 85 615 26 480 Transfers due to changes in creditworthiness 138 (197) 58 N/M 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 (561) (5) (566) Recovery of written off amounts 0 0 55 23 78 Foreign exchange and other changes 3 (4) (41) (0) (43) Balance, end of reporting period 440 532 3,740 182 4,895 Provision for Credit Losses excluding country risk ¹ (107) (112) 673 26 480 1 Movements in financial assets including new business, transfers due to changes in creditworthiness and changes in models add up to Provision for Credit Losses excluding country risk. 2 This position includes charge offs of allowance for credit losses. 3 Allowance for credit losses does not include allowance for country risk amounting to € 4 million 4 The total amount of undiscounted expected credit losses at initial recognition on financial assets that are purchased or originated credit-impaired initially recognized during the reporting period was € 0 million € 50 million € 51 million 1 % Stage 1 allowances decreased by € 104 million 19 % Stage 2 allowances decreased by € 117 million 18 % Stage 3 allowances increased by € 169 million 5 % Our Stage 3 coverage ratio (defined as Allowance for credit losses in Stage 3 (excluding POCI) divided by Financial assets at amortized cost in Stage 3 (excluding POCI)) amounted to 33 % 34 % Due to the positive macroeconomic outlook, transfers from stage 1 and transfers into stage 2 due to changes in creditworthiness declined in 2021 on a year-over-year basis. Accordingly, the improved macroeconomic parameters resulted in higher net allowance charges in stage 1 as well as higher net releases of allowance in stage 2, due to changes in creditworthiness in the full year 2021. In 2021, transfers into stage 3 went down compared to 2020 and resulted mostly from transfers from stage 2. This reduction was driven by the diminished impact from COVID-19, which was partly offset by the introduction of the new definition of default by EBA in 2021. There has been a moderate increase in net allowance charges in stage 3 due to changes in creditworthiness in 2021. Development of allowance for credit losses in the previous reporting period Dec 31, 2020 Allowance for Credit Losses³ in € m. Stage 1 Stage 2 Stage 3 Stage 3 POCI⁴ Total Balance, beginning of year 549 492 3,015 36 4,093 Movements in financial assets including new business and credit extensions (44) 309 1,348 72 1,686 Transfers due to changes in creditworthiness 77 (125) 49 N/M 0 Changes due to modifications that did not result in N/M N/M N/M N/M N/M Changes in models 0 0 0 0 0 Financial assets that have been derecognized during the period² 0 0 (781) 0 (781) Recovery of written off amounts 0 0 58 0 58 Foreign exchange and other changes (38) (28) (75) 31 (110) Balance, end of reporting period 544 648 3,614 139 4,946 Provision for Credit Losses excluding country risk¹ 33 184 1,397 72 1,686 1 Movements in financial assets including new business, transfers due to changes in creditworthiness and changes in models add up to Provision for Credit Losses excluding country risk. 2 This position includes charge offs of allowance for credit losses. 3 Allowance for credit losses does not include allowance for country risk amounting to € 5 million 4 The total amount of undiscounted expected credit losses at initial recognition on financial assets that are purchased or originated credit-impaired initially recognized during the reporting period was € 50 million € 0 million € 853 million 21 % Stage 1 allowances € 5 million 1 % Stage 2 allowances € 156 million 32 % Stage 3 allowances € 702 million 23 % Financial assets at amortized cost by business division Dec 31, 2021 Gross Carrying Amount¹ Allowance for Credit Losses in € m. Stage 1 Stage 2 Stage 3 Stage 3 Total Stage 1 Stage 2 Stage 3 Stage 3 Total Corporate Bank 116,332 10,165 2,113 0 128,611 56 83 901 0 1,040 Investment Bank 147,177 9,783 2,487 1,264 160,711 106 78 356 182 723 Private Bank 235,067 19,526 6,496 33 261,122 269 365 2,383 0 3,018 Asset Management 2,218 58 0 0 2,276 1 1 0 0 2 Capital Release Unit 2,743 210 212 0 3,165 2 1 99 0 103 Corporate & Other 207,485 910 18 0 208,413 6 3 1 0 10 Total 711,021 40,653 11,326 1,297 764,298 440 532 3,740 182 4,895 1 Gross Carrying Amount numbers per business division are reported after a reallocation of cash balances from business divisions to Corporate & Other. Dec 31, 2020 Gross Carrying Amount Allowance for Credit Losses in € m. Stage 1 Stage 2 Stage 3 Stage 3 Total Stage 1 Stage 2 Stage 3 Stage 3 Total Corporate Bank 109,484 7,747 2,305 0 119,537 85 106 1,052 0 1,244 Investment Bank 134,634 5,832 2,023 1,459 143,948 139 92 290 139 659 Private Bank 216,412 21,328 5,954 270 243,964 311 446 2,098 0 2,855 Asset Management 2,131 57 0 0 2,188 1 1 0 0 1 Capital Release Unit 4,463 303 372 0 5,138 4 4 174 0 182 Corporate & Other 184,512 105 1 0 184,618 5 (0) 0 0 5 Total 651,637 35,372 10,655 1,729 699,393 544 648 3,614 139 4,946 Financial assets at amortized cost by industry sector The below table gives an overview of our asset quality by industry and is based on the NACE code of the counterparty. NACE (Nomenclature des Activités Économiques dans la Communauté Européenne) is a standard European industry classification system. The information below is not fully congruent to the internal risk view applied in the section “Focus industries in light of COVID-19 pandemic”. Dec 31, 2021 Gross Carrying Amount Allowance for Credit Losses in € m. Stage 1 Stage 2 Stage 3 Stage 3 Total Stage 1 Stage 2 Stage 3 Stage 3 Total Agriculture, forestry and fishing 544 73 29 0 646 1 1 11 0 12 Mining and quarrying 2,771 95 63 0 2,929 3 0 13 0 17 Manufacturing 31,776 3,466 957 97 36,296 24 36 481 3 543 Electricity, gas, steam and air conditioning supply 4,414 174 117 0 4,705 2 2 41 0 45 Water supply, sewerage, waste management and remediation activities 580 51 50 0 680 1 2 8 0 11 Construction 3,672 375 271 128 4,446 8 5 178 (1) 190 Wholesale and retail trade, repair of motor vehicles and motorcycles 19,582 1,355 747 32 21,717 18 19 397 3 436 Transport and storage 4,513 862 378 29 5,782 12 12 72 (0) 96 Accommodation and food service activities 1,356 769 122 18 2,265 1 9 62 (2) 70 Information and communication 6,431 257 157 16 6,860 10 4 98 0 112 Financial and insurance activities 359,874 6,711 1,756 491 368,832 94 48 322 54 519 Real estate activities 34,827 5,339 1,115 271 41,551 16 22 97 55 190 Professional, scientific and technical activities 6,017 751 225 34 7,027 6 9 107 0 122 Administrative and support service activities 9,477 1,767 467 24 11,736 11 21 132 4 167 Public administration and defense, compulsory social security 18,174 2,073 49 0 20,295 5 11 5 0 21 Education 190 34 5 0 228 0 1 2 0 3 Human health services and social work activities 3,620 331 105 0 4,056 4 6 18 0 28 Arts, entertainment and recreation 690 371 11 1 1,073 2 3 3 1 8 Other service activities 8,564 920 225 140 9,850 6 12 39 49 107 Activities of households as employers, undifferentiated goods- and services-producing activities of households for own use 193,909 14,880 4,477 16 213,282 218 309 1,653 16 2,196 Activities of extraterritorial organizations and bodies 40 0 1 0 41 0 0 1 0 1 Total 711,021 40,653 11,326 1,297 764,298 440 532 3,740 182 4,895 Dec 31, 2020 Gross Carrying Amount Allowance for Credit Losses in € m. Stage 1 Stage 2 Stage 3 Stage 3 Total Stage 1 Stage 2 Stage 3 Stage 3 Total Agriculture, forestry and fishing 538 69 39 0 646 1 1 12 0 14 Mining and quarrying 2,808 115 162 0 3,085 4 4 98 0 106 Manufacturing 23,245 2,518 1,024 138 26,925 32 42 479 3 557 Electricity, gas, steam and air conditioning supply 3,268 276 117 0 3,661 3 2 35 0 40 Water supply, sewerage, waste management and remediation activities 573 52 57 0 681 1 2 9 0 12 Construction 3,706 304 271 169 4,450 6 7 193 6 212 Wholesale and retail trade, repair of motor vehicles and motorcycles 19,049 1,066 830 46 20,991 21 20 516 2 558 Transport and storage 4,760 710 387 12 5,869 20 18 93 0 131 Accommodation and food service activities 1,871 445 90 24 2,429 5 8 22 0 35 Information and communication 5,482 207 131 0 5,820 12 4 95 0 111 Financial and insurance activities 316,950 6,336 1,159 551 324,996 88 64 285 37 474 Real estate activities 38,993 2,089 824 293 42,200 32 22 94 42 190 Professional, scientific and technical activities 6,295 1,049 223 198 7,765 8 15 97 5 125 Administrative and support service activities 8,966 1,365 409 47 10,787 14 22 88 1 125 Public administration and defense, compulsory social security 16,648 593 229 0 17,469 8 5 11 0 24 Education 179 23 3 0 205 0 1 1 0 2 Human health services and social work activities 3,104 347 15 1 3,468 4 6 7 0 17 Arts, entertainment and recreation 874 78 9 1 961 3 1 3 0 8 Other service activities 10,548 823 180 215 11,766 13 12 21 40 86 Activities of households as employers, undifferentiated goods- and services- producing activities of households for own use 183,728 16,906 4,496 34 205,164 270 393 1,453 2 2,120 Activities of extraterritorial organizations and bodies 52 0 1 0 53 0 0 1 0 1 Total 651,637 35,372 10,655 1,729 699,393 544 648 3,614 139 4,946 Financial assets at amortized cost by region Dec 31, 2021 Gross Carrying Amount Allowance for Credit Losses in € m. Stage 1 Stage 2 Stage 3 Stage 3 Total Stage 1 Stage 2 Stage 3 Stage 3 Total Germany 317,217 17,941 3,581 33 338,773 191 298 1,653 14 2,156 Western Europe 134,187 9,224 3,652 937 148,000 134 156 1,610 150 2,050 Eastern Europe 6,818 494 99 0 7,412 2 4 53 0 59 North America 174,574 8,853 2,131 145 185,703 53 55 180 16 304 Central and South America 3,908 206 197 7 4,318 3 0 13 2 18 Asia/Pacific 58,984 2,351 1,518 137 62,990 45 8 227 2 282 Africa 2,081 1,319 39 0 3,439 3 11 1 0 16 Other 13,252 263 110 38 13,664 10 0 2 (2) 11 Total 711,021 40,653 11,326 1,297 764,298 440 532 3,740 182 4,895 Dec 31, 2020 Gross Carrying Amount Allowance for Credit Losses in € m. Stage 1 Stage 2 Stage 3 Stage 3 Total Stage 1 Stage 2 Stage 3 Stage 3 Total Germany 293,760 17,709 3,840 270 315,580 252 356 1,438 52 2,098 Western Europe 130,592 7,639 3,188 1,103 142,522 152 215 1,603 77 2,048 Eastern Europe 5,175 214 90 0 5,480 7 2 42 0 51 North America 144,876 6,303 2,079 105 153,362 77 57 225 7 366 Central and South America 3,731 146 374 7 4,258 4 4 32 0 40 Asia/Pacific 57,197 2,691 973 219 61,081 31 13 273 2 318 Africa 2,617 218 11 0 2,845 5 1 1 0 7 Other 13,689 453 99 24 14,265 15 1 0 (0) 16 Total 651,637 35,372 10,655 1,729 699,393 544 648 3,614 139 4,946 Financial assets at amortized cost by rating class Dec 31, 2021 Gross Carrying Amount Allowance for Credit Losses in € m. Stage 1 Stage 2 Stage 3 Stage 3 Total Stage 1 Stage 2 Stage 3 Stage 3 Total iAAA–iAA 257,805 471 0 0 258,276 2 0 0 0 2 iA 99,418 1,325 0 9 100,753 6 1 0 0 7 iBBB 163,434 3,938 0 0 167,371 39 12 0 0 51 iBB 152,040 11,898 0 0 163,938 150 71 0 0 221 iB 33,572 17,942 0 16 51,530 205 253 0 6 463 iCCC and below 4,752 5,079 11,326 1,272 22,430 39 195 3,740 177 4,151 Total 711,021 40,653 11,326 1,297 764,298 440 532 3,740 182 4,895 Dec 31, 2020 Gross Carrying Amount Allowance for Credit Losses in € m. Stage 1 Stage 2 Stage 3 Stage 3 Total Stage 1 Stage 2 Stage 3 Stage 3 Total iAAA–iAA 225,226 538 0 0 225,764 1 0 0 0 1 iA 88,250 734 0 0 88,983 5 0 0 0 5 iBBB 150,519 2,662 0 0 153,181 43 9 0 0 52 iBB 146,701 11,891 0 0 158,592 202 76 0 0 279 iB 36,167 13,674 0 0 49,841 240 251 0 0 492 iCCC and below 4,774 5,874 10,655 1,729 23,032 54 310 3,614 139 4,117 Total 651,637 35,372 10,655 1,729 699,393 544 648 3,614 139 4,946 Our existing commitments to lend additional funds to debtors with Stage 3 financial assets at amortized cost amounted to € 384 million € 446 million as of December 31, 2020. Collateral held against financial assets at amortized cost in stage 3 Dec 31, 2021 Dec 31, 2020 in € m. Gross Carrying Collateral Guarantees Gross Carrying Collateral Guarantees Financial Assets at Amortized Cost (Stage 3) 11,326 4,140 496 10,655 3,753 558 1 Stage 3 consists here only of non-POCI assets. In 2021, collateral and guarantees held against financial assets at amortized cost in stage 3 increased by € 325 million 8 % Due to full collateralization we did not recognize an allowance for credit losses against Financial assets at amortized cost in Stage 3 for € 1,130 million € 625 million Modified Assets at Amortized Cost A financial asset is considered modified when its contractual cash flows are renegotiated or otherwise modified. Renegotiation or modification may or may not lead to derecognition of the old and recognition of the new financial instrument. This section covers modified financial assets that have not been derecognized. Under IFRS 9, when the terms of a Financial Asset are renegotiated or modified and the modification does not result in derecognition, a gain or loss is recognized in the income statement as the difference between the original contractual cash flows and the modified cash flows discounted at the original effective interest rate (EIR). For modified financial assets the determination of whether the asset’s credit risk has increased significantly reflects the comparison of: – – The following table provides the overview of modified financial assets at amortized cost in the reporting periods broken down into IFRS 9 stages. Modified Assets at Amortized Cost Dec 31, 2021 Dec 31, 2020 in € m. Stage 1 Stage 2 Stage 3 Stage 3 Total Stage 1 Stage 2 Stage 3 Stage 3 Total Amortized cost carrying amount prior to modification 0 22 17 0 40 0 81 73 0 153 Net modification gain/losses recognized (1) 0 (16) 0 (16) 0 2 (30) 0 (29) In 2021, we have observed the decrease of € 113 million 74 % In 2021, we have not observed any amounts of modified assets that have been upgraded to stage 1. We have not observed any subsequent re-deterioration of those assets into stages 2 and 3. In 2020, we have observed immaterial amounts of modified assets that have been upgraded to stage 1. We have not observed any subsequent re-deterioration of those assets into stages 2 and 3. Financial Assets at Fair value through Other Comprehensive Income The fair value of financial assets at Fair value through Other Comprehensive Income (FVOCI) subject to impairment was € 29 billion € 56 billion € 41 million € 20 million Off-balance sheet lending commitments and guarantee business The following tables provide an overview of the nominal amount and credit loss allowance for our off-balance sheet financial asset class broken down into stages as per IFRS 9 requirements . Development of nominal amount in the current reporting period Dec 31, 2021 Nominal Amount in € m. Stage 1 Stage 2 Stage 3 Stage 3 POCI Total Balance, beginning of year 251,545 8,723 2,587 1 262,856 Movements including new business 11,197 3,236 (273) 10 14,170 Transfers due to changes in creditworthiness (2,177) 2,019 158 0 0 Changes in models 0 0 0 0 0 Foreign exchange and other changes 8,292 521 110 0 8,923 Balance, end of reporting period 268,857 14,498 2,582 11 285,948 of which: Financial guarantees 55,477 2,975 1,036 0 59,488 Development of nominal amount in the previous reporting period Dec 31, 2020 Nominal Amount in € m. Stage 1 Stage 2 Stage 3 Stage 3 POCI Total Balance, beginning of year 251,930 5,864 1,424 0 259,218 Movements including new business 16,918 (2,786) 126 1 14,259 Transfers due to changes in creditworthiness (7,247) 6,101 1,146 0 0 Changes in models 0 0 0 0 0 Foreign exchange and other changes (10,056) (455) (110) 0 (10,622) Balance, end of reporting period 251,545 8,723 2,587 1 262,856 of which: Financial guarantees 45,064 1,887 1,031 0 47,982 Development of allowance for credit losses in the current reporting period Dec 31, 2021 Allowance for Credit Losses 2 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 (43) 38 18 0 13 Transfers due to changes in creditworthiness 3 (5) 2 0 0 Changes in models 0 0 0 0 0 Foreign exchange and other changes 3 3 6 0 12 Balance, end of reporting period 108 111 225 0 443 of which: Financial guarantees 69 64 164 0 297 Provision for Credit Losses excluding country risk 1 (40) 33 19 0 13 1 The above table breaks down the impact on provision for credit losses from movements in financial assets including new business, transfers due to changes in creditworthiness and changes in models 2 Allowance for credit losses does not include allowance for country risk amounting to € 6 million Development of allowance for credit losses in the previous reporting period Dec 31, 2020 Allowance for Credit Losses 2 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 13 21 41 0 75 Transfers due to changes in creditworthiness 0 0 (1) 0 0 Changes in models 0 0 0 0 0 Foreign exchange and other changes 3 4 (6) 0 1 Balance, end of reporting period 144 74 200 0 419 of which: Financial guarantees 99 43 115 0 257 Provision for Credit Losses excluding country risk 1 13 22 40 0 75 1 The above table breaks down the impact on provision for credit losses from movements in financial assets including new business, transfers due to changes in creditworthiness and changes in models. 2 Allowance for credit losses does not include allowance for country risk amounting to € 4 million . Legal Claims Assets subject to enforcement activity consist of assets, which have been fully or partially written off and the Group still continues to pursue recovery of the asset. Such enforcement activity comprises for example cases where the bank continues to devote resources (e.g. our Legal Department/CRM workout unit) towards recovery, either via legal channels or third party recovery agents. Enforcement activity also applies to cases where the Bank maintains outstanding and unsettled legal claims. This is irrespective of whether amounts are expected to be recovered and the recovery timeframe. It may be common practice in certain jurisdictions for recovery cases to span several years. Amounts outstanding on financial assets that were written off during the reporting period and are still subject to enforcement activity amounted to € 234 million € 295 million |
Asset Quality Collateral [text block] | Collateral Obtained We obtain collateral on the balance sheet only in certain cases by either taking possession of collateral held as security or by calling upon other credit enhancements. Collateral obtained is made available for sale in an orderly fashion or through public auctions, with the proceeds used to repay or reduce outstanding indebtedness. Generally we do not occupy obtained properties for our business use. The residential real estate collateral obtained in 2020 refers predominantly to our exposures in Spain. Collateral Obtained during the reporting period in € m. 2021 2020² Commercial real estate 0 15 Residential real estate 1 2 43 Other 0 3 Total collateral obtained during the reporting period 2 60 1 Carrying amount of foreclosed residential real estate properties amounted to € 67 million € 89 million 2 Numbers have been restated compared to prior year disclosure The collateral obtained, as shown in the table above, excludes collateral recorded as a result of consolidating securitization trusts under IFRS 10. In 2021 the Group obtained € 46 million € 54 million |
Trading Market Risk Exposures [Abstract] | |
Value-at-Risk Metrics of Trading Units of Deutsche Bank Group [text block] | The tables and graph below present the Historic Simulation value-at-risk metrics calculated with a 99 % confidence level and a one-day holding period for our trading units. Value-at-Risk of our Trading Units by Risk Type¹ Total Diversification Interest rate Credit spread Equity price Foreign exchange Commodity price in € m. 2021 2020 2021 2020 2021 2020 2021 2020 2021 2020 2021 2020 2021 2020 Average 37.5 58.9 (37.2) (44.0) 23.1 17.9 27.9 53.6 13.0 15.5 9.5 13.3 1.1 2.7 Maximum 69.0 133.3 (21.0) (10.2) 38.5 36.3 60.3 117.1 20.1 30.8 25.2 32.3 7.9 8.8 Minimum 27.7 25.6 (76.9) (84.4) 11.3 8.1 17.5 17.9 6.8 5.3 4.4 4.5 0.3 0.4 Period-end 31.1 48.1 (27.0) (72.2) 16.6 27.1 24.1 55.4 8.3 13.5 8.1 22.5 1.0 1.8 1 Figures for 2021 as of December 31, 2021. Figures for 2020 as of December 31, 2020. 2 |
Regulatory Measures Incremental Risk Charge [text block] | For regulatory reporting purposes, the incremental risk charge for the respective reporting dates represents the higher of the spot value at the reporting dates, and their preceding 12-week average calculation Average, Maximum and Minimum Incremental Risk Charge of Trading Units (with a 99.9 % confidence level and one-year capital horizon) 1,2,3, Total Credit Trading Core Rates Emerging Markets Other 4 in € m. 2021 2020 2021 2020 2021 2020 2021 2020 2021 2020 Average 436.6 591.4 118.1 100.2 211.4 347.4 188.3 242.6 (81.2) (98.7) Maximum 604.1 688.8 154.6 147.4 574.5 631.6 267.9 324.9 59.1 (70.0) Minimum 292.5 537.3 62.5 50.0 60.1 263.1 84.4 62.8 (224.9) (147.6) Period-end 292.5 560.4 85.4 124.8 78.0 283.6 133.1 250.4 (4.0) (98.5) 1 Amounts show the bands within which the values fluctuated during the 12-weeks preceding December 31, 2021 and December 31, 2020, respectively 2 Business line breakdowns have been updated for 2021 reporting to better reflect the current business structure. 3 All liquidity horizons are set to 12 months. 4 Other includes Capital Release Unit. |
Disclosure of Nontrading Market Risk Exposure [text block] | Nontrading Market Risk Exposures Economic Capital Usage for Nontrading Market Risk The following table shows the Nontrading Market Risk economic capital usage by risk type Economic Capital Usage by risk type. Economic capital usage in € m. Dec 31, 2021 Dec 31, 2020 Interest rate risk 1,853 4,062 Credit spread risk 21 92 Equity and Investment risk 1,031 1,885 Foreign exchange risk 1,509 1,682 Pension risk 1,128 934 Guaranteed funds risk 85 41 Total nontrading market risk portfolios 5,628 8,696 The economic capital figures do take into account diversification benefits between the different risk types. Economic Capital Usage for Nontrading Market Risk totaled € 5.6 billion € 3.1 billion – € 1,853 million € 4,062 million – € 21 million € 92 million – € 1,031 million € 1,885 million – € 1,509 million € 1,682 million – € 1,128 million € 934 million – € 85 million € 41 million |
Disclosure of Liquidity Risk Exposure [Abstract] | |
Funding Markets and Capital Issuance [text block] | Funding Markets and Capital Markets Issuance |
Funding Diversification Performance [text block] | Funding Diversification In 2021, total external funding increased by € 52.2 billion € 886.2 billion € 938.4 billion € 17.8 billion € 12.7 billion € 25.0 billion € 5.9 billion € 9.8 billion With the disclosure of the regulatory Net Stable Funding Ratio starting in the second quarter of 2021, DB has discontinued the disclosure of the internal Most Stable Funding Ratio (MSFR). Composition of External Funding Sources 1 Reference: Reconciliation to total balance sheet of € 1,324.7 billion € 1,325.3 billion € 306.8 billion € 348.2 billion € 49.0 billion € 63.4 billion € 30.5 billion € 27.4 billion |
Significant Accounting Polici_2
Significant Accounting Policies (Policies) | 12 Months Ended |
Dec. 31, 2021 | |
Significant Accounting Policies [Abstract] | |
Principles of Consolidation [text block] | Principles of consolidation The financial information in the Consolidated Financial Statements includes the parent company, Deutsche Bank AG, together with its consolidated subsidiaries, including certain structured entities presented as a single economic unit. Subsidiaries The Group’s subsidiaries are those entities which it directly or indirectly controls. Control over an entity is evidenced by the Group’s ability to exercise its power in order to affect any variable returns that the Group is exposed to through its involvement with the entity. The Group sponsors the formation of structured entities and interacts with structured entities sponsored by third parties for a variety of reasons, including allowing clients to hold investments in separate legal entities, allowing clients to invest jointly in alternative assets, for asset securitization transactions, and for buying or selling credit protection. When assessing whether to consolidate an entity, the Group evaluates a range of control factors, namely: – – – – – Where voting rights are relevant, the Group is deemed to have control where it holds, directly or indirectly, more than half of the voting rights over an entity unless there is evidence that another investor has the practical ability to unilaterally direct the relevant activities. Potential voting rights that are deemed to be substantive are also considered when assessing control. Likewise, the Group also assesses existence of control where it does not control the majority of the voting power but has the practical ability to unilaterally direct the relevant activities. This may arise in circumstances where the size and dispersion of holdings of the shareholders give the Group the power to direct the activities of the investee. The Group reassesses the consolidation status at least at every quarterly reporting date. Therefore, any changes in the structure leading to a change in one or more of the control factors, require reassessment when they occur. This includes changes in decision making rights, changes in contractual arrangements, changes in the financing, ownership or capital structure as well as changes following a trigger event which was anticipated in the original documentation. All intercompany transactions, balances and unrealized gains on transactions between Group companies are eliminated on consolidation. Consistent accounting policies are applied throughout the Group for the purposes of consolidation. Issuances of a subsidiary’s stock to third parties are treated as non-controlling interests. Profit or loss attributable to non-controlling interests are reported separately in the Consolidated Statement of Income and Consolidated Statement of Comprehensive Income. At the date that control of a subsidiary is lost, the Group: a) derecognizes the assets (including attributable goodwill) and liabilities of the subsidiary at their carrying amounts, b) derecognizes the carrying amount of any non-controlling interests in the former subsidiary, c) recognizes the fair value of the consideration received and any distribution of the shares of the subsidiary, d) recognizes any investment retained in the former subsidiary at its fair value and e) recognizes any resulting difference of the above items as a gain or loss in the income statement. Any amounts recognized in prior periods in other comprehensive income in relation to that subsidiary would be reclassified to the Consolidated Statement of Income or transferred directly to retained earnings if required by other IFRSs. Associates Investments in associates are accounted for under the equity method of accounting. An associate is an entity in which the Group has significant influence, but not a controlling interest, over the operating and financial management policy decisions of the entity. Significant influence is generally presumed when the Group holds between 20 % 50 % 20 % Under the equity method of accounting, the Group’s investments in associates and jointly controlled entities are initially recorded at cost including any directly related transaction costs incurred in acquiring the associate, and subsequently increased (or decreased) to reflect both the Group’s pro-rata share of the post-acquisition net income (or loss) of the associate or jointly controlled entity and other movements included directly in the equity of the associate or jointly controlled entity. The Group’s share of the results of associates is adjusted to conform to the accounting policies of the Group and is reported in the Consolidated Statement of Income as Net income (loss) from equity method investments. The Group’s share in the associate’s profits and losses resulting from intercompany sales is eliminated on consolidation. Goodwill arising on the acquisition of an associate or a jointly controlled entity is included in the carrying value of the investment. As goodwill is not reported separately it is not specifically tested for impairment. Rather, the entire equity method investment is tested for impairment at each balance sheet date. If there is objective evidence of impairment, an impairment test is performed by comparing the investment’s recoverable amount, which is the higher of its value in use and fair value less costs to sell, with its carrying amount. An impairment loss recognized in prior periods is only reversed if there has been a positive change in the estimates used to determine the investment’s recoverable amount since the last impairment loss was recognized. If this is the case the carrying amount of the investment is increased to its higher recoverable amount. The increased carrying amount of the investment in the associate attributable to a reversal of an impairment loss shall not exceed the carrying amount that would have been determined had no impairment loss been recognized for the investment in prior years. At the date that the Group ceases to have significant influence over the associate or jointly controlled entity the Group recognizes a gain or loss on the disposal of the equity method investment equal to the difference between the sum of the fair value of any retained investment and the proceeds from disposing of the associate and the carrying amount of the investment. Amounts recognized in prior periods in other comprehensive income in relation to the associate are accounted for on the same basis as would have been required if the investee had directly disposed of the related assets or liabilities. Critical accounting estimates: |
Foreign Currency Translation [text block] | Foreign currency translation The Consolidated Financial Statements are prepared in euro, which is the presentation currency of the Group. Various entities in the Group use a different functional currency, being the currency of the primary economic environment in which the entity operates. An entity records foreign currency revenues, expenses, gains and losses in its functional currency using the exchange rates prevailing at the dates of recognition. Monetary assets and liabilities denominated in currencies other than the entity’s functional currency are translated at the period end closing rate. Foreign exchange gains and losses resulting from the translation and settlement of these items are recognized in the Consolidated Statement of Income as net gains (losses) on financial assets/liabilities at fair value through profit or loss in order to align the translation amounts with those recognized from foreign currency related transactions (derivatives) which hedge these monetary assets and liabilities. Non-monetary items that are measured at historical cost are translated using the historical exchange rate at the date of the transaction. Translation differences on non-monetary items which are held at fair value through profit or loss are recognized in profit or loss. For purposes of translation into the presentation currency, assets and liabilities of foreign operations are translated at the period end closing rate and items of income and expense are translated into euros at the rates prevailing on the dates of the transactions, or average rates of exchange where these approximate actual rates. The exchange differences arising on the translation of a foreign operation are included in other comprehensive income. For foreign operations that are subsidiaries, the amount of exchange differences attributable to any non-controlling interests is recognized in non-controlling interests. Upon disposal of a foreign subsidiary and associate (which results in loss of control or significant influence over that operation) the total cumulative exchange differences recognized in other comprehensive income are reclassified to profit or loss. Upon partial disposal of a foreign operation that is a subsidiary and which does not result in loss of control, the proportionate share of cumulative exchange differences is reclassified from other comprehensive income to non-controlling interests as this is deemed a transaction with equity holders. For a partial disposal of an associate which does not result in a loss of significant influence, the proportionate share of cumulative exchange differences is reclassified from other comprehensive income to profit or loss. |
Interest, Commissions and Fees [text block] | Interest, commissions and fees Net interest income The estimated future cash flows used in the EIR calculation include those determined by all of the contractual terms of the asset or liability, all fees (including commissions) that are considered to be integral to the effective interest rate, direct and incremental transaction costs and all other premiums or discounts. However, if the financial instrument is carried at fair value through profit or loss, any associated fees are recognized in trading income when the instrument is initially recognized, provided there are no significant unobservable inputs used in determining its fair value. If a financial asset is credit impaired, interest revenue is calculated by applying the effective interest rate to the amortized cost amount. The amortized cost amount of a financial asset is the gross carrying amount of a financial asset after adjusting for any impairment allowance. For assets which are initially recognized as purchased or credit impaired, interest revenue is calculated through the use of a credit-adjusted effective interest rate which takes into consideration expected credit losses. The Group presents negative interest paid on interest-bearing assets as interest expense, and interest revenue received from interest-bearing liabilities as interest income. The Group presents interest income and expense calculated using the EIR method separately in the Group’s consolidated statement of income. Commissions and fee income Accordingly, after a contract with a customer has been identified in the first step, the second step is to identify the performance obligation – or a series of distinct performance obligations – provided to the customer. The Group must examine whether the service is capable of being distinct and is actually distinct within the context of the contract. A promised service is distinct if the customer can benefit from the service either on its own or together with other resources that are readily available to the customer, and the promise to transfer the service to the customer is separately identifiable from other promises in the contract. The amount of income is measured on the basis of the contractually agreed transaction price for the performance obligation defined in the contract. If a contract includes a variable consideration, the Group estimates the amount of consideration to which it will be entitled in exchange for transferring the promised goods or services to a customer. Income is recognized in profit and loss when the identified performance obligation has been satisfied. The Group does not present information about its remaining performance obligations if it is part of a contract that has an original expected duration of one year or less. The Group determines the stand-alone selling price at contract inception of a distinct service underlying each performance obligation in the contract and allocates the transaction price in proportion to those stand-alone selling prices. The stand-alone selling price is the price at which DB would sell a promised service separately to a customer on an unbundled basis. The best evidence of a stand-alone selling price is the observable price of a service when the Group sells that service separately in similar circumstances and to similar customers. If the Group does not sell the service to a customer separately, it estimates the stand-alone selling price at an amount using a suitable method, for example, in loan syndication transactions the Group applies the requirements for recognition of trade day profit and considers the price at which other market participants provide the same service on an unbundled basis. As such when estimating a stand-alone selling price, the Group considers all information (including market conditions) that is reasonably available to it. In doing so, the Group maximizes the use of observable inputs and applies estimation methods consistently in similar circumstances. The Group provides asset management services that give rise to asset management and performance fees and constitute a single performance obligation. The asset management and performance fee components are variable considerations such that at each reporting date the Group estimates the fee amount to which it will be entitled in exchange for transferring the promised services to the customer. The benefits arising from the asset management services are simultaneously received and consumed by the customer over time. The Group recognizes revenue over time by measuring the progress towards complete satisfaction of that performance obligation, subject to the removal of any uncertainty as to whether it is highly probable that a significant reversal in the cumulative amount of revenue recognized would occur or not. For the management fee component this is the end of the monthly or quarterly service period. For performance fees this date is when any uncertainty related to the performance component has been fully removed. Loan commitment fees related to commitments that are accounted for off balance sheet are recognized in commissions and fee income over the life of the commitment if it is unlikely that the Group will enter into a specific lending arrangement. If it is probable that the Group will enter into a specific lending arrangement, the loan commitment fee is deferred until the origination of a loan and recognized as an adjustment to the loan’s effective interest rate. Commissions and Fee Income predominantly earned from services that are received and consumed by the customer over time: Administration, assets under management, foreign commercial business, loan processing and guarantees sundry other customer services. The Group recognizes revenue from these services over time by measuring the progress towards complete satisfaction of that performance obligation, subject to the removal of any uncertainty as to whether it is highly probable that a significant reversal in the cumulative amount of revenue recognized would occur or not. Commissions and Fee Income predominantly earned from providing services at a point in time or transaction-type services include: other securities, underwriting and advisory fees, brokerage fees, local payments, foreign currency/ exchange business and intermediary fees. Expenses that are directly related and incremental to the generation of Commissions and Fee Income are presented net in Commissions and Fee Income in the Consolidated Statement of Income. This includes income and associated expense where the Group contractually owns the performance obligation (i.e. as Principal) in relation to the service that gives rise to the revenue and associated expense. In contrast, it does not include situations where the Group does not contractually own the performance obligation and is acting as agent. The determination of whether the Group is acting as principal or agent is based on the contractual terms of the underlying service arrangement. The gross Commissions and Fee Income and Expense amounts are disclosed in “Note 6 – Commissions and Fee Income”. |
Financial Assets [text block] | Financial assets – – – The assessment of business model requires judgment based on facts and circumstances upon initial recognition. As part of this assessment, the Group considers quantitative factors (e.g., the expected frequency and volume of sales) and qualitative factors such as how the performance of the business model and the financial assets held within that business model are evaluated and reported to the Group’s key management personnel. In addition to taking into consideration the risks that affect the performance of the business model and the financial assets held within that business model, in particular, the way in which those market and credit risks are managed; and how managers of the business are compensated (e.g., whether the compensation is based on the fair value of the assets managed or on the contractual cash flows collected). This assessment results in an asset being classified in either a Hold to Collect, Hold to Collect and Sell or Other business model. If the Group holds a financial asset either in a Hold to Collect or a Hold to Collect and Sell business model, then an assessment at initial recognition to determine whether the contractual cash flows of the financial asset are Solely Payments of Principal and Interest on the principal amount outstanding at initial recognition is required to determine the business model classification. Contractual cash flows, that are SPPI on the principal amount outstanding, are consistent with a basic lending arrangement. Interest in a basic lending arrangement is consideration for the time value of money and the credit risk associated with the principal amount outstanding during a particular period of time. It can also include consideration for other basic lending risks (e.g., liquidity risk) and costs (e.g., administrative costs) associated with holding the financial asset for a particular period of time; and a profit margin that is consistent with a basic lending arrangement. Financial assets at fair value through profit or loss Financial assets are classified at fair value through profit or loss if they are held in the Other business model because they are either held for trading or because they do not meet the criteria for Hold to Collect or Hold to Collect and Sell. In addition, it includes financial assets that meet the criteria for Hold to Collect or Hold to Collect and Sell business model, but the financial asset fails SPPI or where the Group designated the financial assets under the fair value option. Financial assets classified as Financial assets at fair value through profit or loss are measured at fair value with realized and unrealized gains and losses included in Net gains (losses) on financial assets/liabilities at fair value through profit or loss. Interest on interest earning assets such as trading loans and debt securities and dividends on equity instruments are presented in Interest and Similar Income. Financial assets classified at fair value through profit or loss are recognized or derecognized on trade date. Trade date is the date on which the Group commits to purchase or sell the asset. Trading assets Non-trading financial assets mandatory at fair value through profit and loss – Financial assets designated at fair value through profit or loss Financial assets at fair value through other comprehensive income A financial asset shall be classified and measured at Fair Value through Other Comprehensive Income (“FVOCI”), if the financial asset is held in a Hold to Collect and Sell business model and the contractual cash flows are SPPI, unless designated under the fair value option. Under FVOCI, a financial asset is measured at its fair value with any changes being recognized in Other Comprehensive Income (”OCI”) and is assessed for impairment under the IFRS 9 expected credit loss model where provisions are recorded through profit or loss are recognized based on expectations of potential credit losses. The Group’s impairment policy is described further in the section “Impairment of Loans and Provision for Off-Balance Sheet Positions (IFRS 9)”. The foreign currency translation effect for FVOCI assets is recognized in profit or loss, as is the interest component by using the effective interest method. The amortization of premiums and accretion of discounts are recorded in net interest income. Realized gains and losses are reported in net gains (losses) on financial assets at FVOCI. Generally, the weighted-average cost method is used to determine the cost of FVOCI financial assets. Financial assets classified as FVOCI are recognized or derecognized on trade date. Trade date is the date on which the Group commits to purchase or sell the asset. It is possible to designate non-trading equity instruments as FVOCI. However, this category is expected to have limited usage by the Group and has not been used to date. Financial assets at amortized cost A financial asset is classified and subsequently measured at amortized cost if the financial asset is held in a Hold to Collect business model and the contractual cash flows are SPPI. Under this measurement category, the financial asset is measured at fair value at initial recognition. Subsequently the carrying amount is reduced for principal payments, plus or minus the cumulative amortization using the effective interest method. The financial asset is assessed for impairment under the IFRS 9 expected credit loss model where provisions are recognized based on expectations of potential credit losses. The Group’s impairment of financial instruments policy is described further in the section “Impairment of Loans and Provision for Off-Balance Sheet Positions (IFRS 9)”. Financial assets measured at amortized cost are recognized on a settlement date basis. Financial Assets at amortized cost include predominately Loans at amortized cost, Central bank funds sold and securities purchased under resale agreements, Securities borrowed and certain receivables presented in Other Assets. When the terms of a financial asset are renegotiated or modified and the modification does not result in derecognition, a gain or loss is recognized in the income statement as the difference between the original contractual cash flows and the modified cash flows discounted at the original effective interest rate. The modified financial asset will continue to accrued interest at its original EIR. When a modification results in derecognition the original instrument is derecognized and the new instrument recognized at fair value. Non-credit related or commercial renegotiations where an obligor has not experienced a significant increase in credit risk since origination, and has a readily exercisable right to early terminate the financial asset results in derecognition of the original agreement and recognition of a new financial asset based on the newly negotiated commercial terms. For credit related modifications (i.e. those modifications due to significant increase in credit risk since inception) or those where the obligor does not have the readily exercisable right to early terminate, the Group assesses whether the modified terms result in the financial asset being significantly modified and therefore derecognized. This assessment includes a quantitative assessment of the impact of the change in cash flows from the modification of contractual terms and additionally, where necessary, a qualitative assessment of the impact of the change in the contractual terms. Where these modifications are not concluded to be significant, the financial asset is not derecognized and is accounted for as a modification as described above. If the changes are concluded to be significant, the old instrument is derecognized and a new instrument recognized. The Group then recognizes a credit loss allowance based on 12-month expected credit losses. However, if following a modification that results in a derecognition of the original financial asset, there is evidence that the new financial asset is credit-impaired on initial recognition; then the new financial asset should be recognized as an originated credit-impaired financial asset and initially classified in Stage 3 (refer to section “Impairment of Loans and Provision for Off-Balance Sheet Positions” below). When the terms of a financial liability are renegotiated or modified then the Group assesses whether the modified terms result in the financial liability being significantly modified and therefore derecognized. This assessment includes a quantitative assessment of the impact of the change in cash flows from the modification of contractual terms and additionally, where necessary, a qualitative assessment of the impact of the change in the contractual terms. Where these modifications are not concluded to be significant, the financial liability is not derecognized and a gain or loss is recognized in the income statement as the difference between the original contractual cash flows and the modified cash flows discounted at the original effective interest rate. Where there is derecognition the original financial liability is derecognized and the new liability recognized at its fair value. |
Loan Commitments [text block] | Loan commitments Loan commitments remain off-balance sheet, unless allocated to the Other business model and presented as derivatives held for trading. The Group does not recognize and measure changes in fair value of off-balance sheet loan commitments that result from changes in market interest rates or credit spreads. However, as specified in the sections “Impairment of Loans and Provision for Off-Balance Sheet Positions” below, these off-balance sheet loan commitments are in scope of the IFRS 9 impairment model. |
Financial Liabilities [text block] | Financial liabilities Under IFRS 9 financial liabilities are measured at amortized cost using the effective interest method, except for financial liabilities at fair value through profit or loss. Financial liabilities at fair value through profit or loss Financial liabilities at fair value through profit or loss include Trading Liabilities, Financial Liabilities Designated at Fair Value through Profit or Loss and Non-Participating Investment Contracts (“Investment Contracts”). Under IFRS 9 they are carried at fair value with realized and unrealized gains and losses included in net gains (losses) on financial assets and liabilities at fair value through profit or loss. For financial liabilities designated at fair value through profit and loss the fair value movements attributable to the Group’s own credit component for fair value movements is recognized in Other Comprehensive Income. Financial liabilities classified at fair value through profit or loss are recognized or derecognized on trade date. Trade date is the date on which the Group commits to issue or repurchase the financial liability. Interest on interest paying liabilities are presented in interest expense for financial instruments at fair value through profit or loss. Trading liabilities - Financial liabilities designated at fair value through profit or loss - Investment contracts - Embedded derivatives Some hybrid financial liability contracts contain both a derivative and a non-derivative component. In such cases, the derivative component is termed an embedded derivative, with the non-derivative component representing the host financial liability contract. If the economic characteristics and risks of embedded derivatives are not closely related to those of the host financial liability contract and the hybrid financial liability contract itself is not carried at fair value through profit or loss, the embedded derivative is bifurcated and reported at fair value, with gains and losses recognized in net gains (losses) on financial assets/liabilities at fair value through profit or loss. The host financial liability contract will continue to be accounted for in accordance with the appropriate accounting standard. The carrying amount of an embedded derivative is reported in the same Consolidated balance sheet line item as the host financial liability contract. Certain hybrid financial liability instruments have been designated at fair value through profit or loss using the fair value option. Financial liabilities at amortized cost Financial liabilities measured at amortized cost include long-term and short-term debt issued which are initially measured at fair value, which is the consideration received, net of transaction costs incurred. Repurchases of issued debt in the market are treated as extinguishments and any related gain or loss is recorded in the Consolidated Statement of Income. A subsequent sale of own bonds in the market is treated as a reissuance of debt. Financial liabilities measured at amortized cost are recognized on a settlement date basis. |
Offsetting of Financial Instruments [text block] | Offsetting of financial instruments Financial assets and liabilities are offset, with the net amount presented in the Consolidated balance sheet, only if the Group holds a currently enforceable legal right to set off the recognized amounts and there is an intention to settle on a net basis or to realize an asset and settle the liability simultaneously. The legal right to set off the recognized amounts must be enforceable in both the normal course of business and in the event of default, insolvency or bankruptcy of both the Group and its counterparty. In all other situations they are presented gross. When financial assets and financial liabilities are offset in the Consolidated balance sheet, the associated income and expense items will also be offset in the Consolidated Statement of Income, unless specifically prohibited by an applicable accounting standard. The majority of the offsetting applied by the Group relates to derivatives and repurchase and reverse repurchase agreements. A significant portion of offsetting is applied to interest rate derivatives and related cash margin balances, which are cleared through central clearing parties. For further information please refer to Note 17 “Offsetting Financial Assets and Financial Liabilities”. |
Determination of Fair Value [text block] | Determination of fair value Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an arm’s length transaction between market participants at the measurement date. The fair value of instruments that are quoted in active markets is determined using the quoted prices where they represent those at which regularly and recently occurring transactions take place. The Group measures certain portfolios of financial assets and financial liabilities on the basis of their net risk exposures when the following criteria are met: – – – This portfolio valuation approach is consistent with how the Group manages its net exposures to market and counterparty credit risks. Critical accounting estimates In reaching estimates of fair value management judgment needs to be exercised. The areas requiring significant management judgment are identified, documented and reported to senior management as part of the valuation control process and the standard monthly reporting cycle. The specialist model validation and valuation control groups focus attention on the areas of subjectivity and judgment. The level of management judgment required in establishing fair value of financial instruments for which there is a quoted price in an active market is usually minimal. Similarly there is little subjectivity or judgment required for instruments valued using valuation models which are standard across the industry and where all parameter inputs are quoted in active markets. The level of subjectivity and degree of management judgment required is more significant for those instruments valued using specialized and sophisticated models and where some or all of the parameter inputs are less liquid or less observable. Management judgment is required in the selection and application of appropriate parameters, assumptions and modelling techniques. In particular, where data are obtained from infrequent market transactions then extrapolation and interpolation techniques must be applied. Where no market data are available for a particular instrument then pricing inputs are determined by assessing other relevant sources of information such as historical data, fundamental analysis of the economics of the transaction and proxy information from similar transactions, and making appropriate adjustment to reflect the actual instrument being valued and current market conditions. Where different valuation techniques indicate a range of possible fair values for an instrument then management has to decide what point within the range of estimates appropriately represents the fair value. Further, some valuation adjustments may require the exercise of management judgment to achieve fair value. Financial assets and liabilities carried at fair value are required to be disclosed according to the inputs to the valuation method that are used to determine their fair value. Specifically, segmentation is required between those valued using quoted market prices in an active market (level 1), valuation techniques based on observable parameters (level 2) and valuation techniques using significant unobservable parameters (level 3). Management judgment is required in determining the category to which certain instruments should be allocated. This specifically arises when the valuation is determined by a number of parameters, some of which are observable and others are not. Further, the classification of an instrument can change over time to reflect changes in market liquidity and therefore price transparency. The Group provides a sensitivity analysis of the impact upon the level 3 financial instruments of using a reasonably possible alternative for the unobservable parameter. The determination of reasonably possible alternatives requires significant management judgment. For financial instruments measured at amortized cost (which include loans, deposits and short and long term debt issued) the Group discloses the fair value. Generally there is limited or no trading activity in these instruments and therefore the fair value determination requires significant management judgment. For further discussion of the valuation methods and controls and quantitative disclosures with respect to the determination of fair value, please refer to Note 13 “Financial Instruments carried at Fair Value” and Note 14 “Fair Value of Financial Instruments not carried at Fair Value”. |
Recognition of Trade Date Profit [text block] | Recognition of trade date profit Trade date profit is recognized if the fair value of the financial instrument measured at fair value through profit or loss is obtained from a quoted market price in an active market, or otherwise evidenced by comparison to other observable current market transactions or based on a valuation technique incorporating observable market data. If there are significant unobservable inputs used in the valuation technique, the financial instrument is recognized at the transaction price and any profit implied from the valuation technique at trade date is deferred. Using systematic methods, the deferred amount is recognized over the period between trade date and the date when the market is expected to become observable, or over the life of the trade (whichever is shorter). Such methodology is used because it reflects the changing economic and risk profile of the instrument as the market develops or as the instrument itself progresses to maturity. Any remaining trade date deferred profit is recognized in the Consolidated Statement of Income when the transaction becomes observable. In the rare circumstances that a trade date loss arises, it would be recognized at inception of the transaction to the extent that it is probable that a loss has been incurred and a reliable estimate of the loss amount can be made. Critical Accounting Estimates |
Derivatives and Hedge Accounting [text block] | Derivatives and hedge accounting Derivatives are used to manage exposures to interest rate, foreign currency, credit and other market price risks, including exposures arising from forecast transactions. All freestanding contracts that are considered derivatives for accounting purposes are carried at fair value on the Consolidated balance sheet regardless of whether they are held for trading or non-trading purposes. The changes in fair value on derivatives held for trading are included in net gains (losses) on financial assets/liabilities at fair value through profit or loss. Hedge accounting IFRS 9 includes an accounting policy choice to defer the adoption of IFRS 9 hedge accounting and to continue with IAS 39 hedge accounting. The Group decided to exercise this accounting policy choice and did not adopt IFRS 9 hedge accounting as of January 1, 2018. For accounting purposes there are three possible types of hedges: (1) hedges of changes in the fair value of assets, liabilities or unrecognized firm commitments (fair value hedges); (2) hedges of the variability of future cash flows from highly probable forecast transactions and floating rate assets and liabilities (cash flow hedges); and (3) hedges of the translation adjustments resulting from translating the functional currency financial statements of foreign operations into the presentation currency of the parent (hedges of net investments in foreign operations). When hedge accounting is applied, the Group designates and documents the relationship between the hedging instrument and the hedged item as well as its risk management objective and strategy for undertaking the hedging transactions and the nature of the risk being hedged. This documentation includes a description of how the Group will assess the hedging instrument’s effectiveness in offsetting the exposure to changes in the hedged item’s fair value or cash flows attributable to the hedged risk. Hedge effectiveness is assessed at inception and throughout the term of each hedging relationship. Hedge effectiveness is always assessed, even when the terms of the derivative and hedged item are matched. For hedges of changes in fair value, the changes in the fair value of the hedged asset, liability or unrecognized firm commitment, or a portion thereof, attributable to the risk being hedged, are recognized in the Consolidated Statement of Income along with changes in the entire fair value of the derivative. When hedging interest rate risk, any interest accrued or paid on both the derivative and the hedged item is reported in interest income or expense and the unrealized gains and losses from the hedge accounting fair value adjustments are reported in other revenue. Hedge ineffectiveness is reported in other revenue and is measured as the net effect of changes in the fair value of the hedging instrument and changes in the fair value of the hedged item arising from changes in the market rate or price related to the risk(s) being hedged. If a fair value hedge of a debt instrument is discontinued prior to the instrument’s maturity because the derivative is terminated or the relationship is de-designated, any remaining interest rate-related fair value adjustments made to the carrying amount of the debt instrument (basis adjustments) are amortized to interest income or expense over the remaining term of the original hedging relationship. For other types of fair value adjustments and whenever a fair value hedged asset or liability is sold or otherwise derecognized, any basis adjustments are included in the calculation of the gain or loss on derecognition. For hedges of variability in future cash flows, there is no change to the accounting for the hedged item and the derivative is carried at fair value, with changes in value reported initially in other comprehensive income to the extent the hedge is effective. These amounts initially recorded in other comprehensive income are subsequently reclassified into the Consolidated Statement of Income in the same periods during which the forecast transaction affects the Consolidated Statement of Income. Thus, for hedges of interest rate risk, the amounts are amortized into interest income or expense at the same time as the interest is accrued on the hedged transaction. Hedge ineffectiveness is recorded in other income and is measured as changes in the excess (if any) in the absolute cumulative change in fair value of the actual hedging derivative over the absolute cumulative change in the fair value of the hypothetically perfect hedge. When hedges of variability in cash flows attributable to interest rate risk are discontinued, amounts remaining in accumulated other comprehensive income are amortized to interest income or expense over the remaining life of the original hedge relationship, unless the hedged transaction is no longer expected to occur in which case the amount will be reclassified into other income immediately. When hedges of variability in cash flows attributable to other risks are discontinued, the related amounts in accumulated other comprehensive income are reclassified into either the same Consolidated Statement of Income caption and period as profit or loss from the forecast transaction, or into other income when the forecast transaction is no longer expected to occur. For hedges of the translation adjustments resulting from translating the functional currency financial statements of foreign operations (hedges of net investments in foreign operations) into the functional currency of the parent, the portion of the change in fair value of the derivative due to changes in the spot foreign exchange rates is recorded as a foreign currency translation adjustment in other comprehensive income to the extent the hedge is effective; the remainder is recorded as other income in the Consolidated Statement of Income. Changes in fair value of the hedging instrument relating to the effective portion of the hedge are subsequently recognized in profit or loss on disposal of the foreign operations. Hedging derivatives are reported as other assets and other liabilities. In the event that a derivative is subsequently de-designated from a hedging relationship, it is transferred to financial assets/liabilities at fair value through profit or loss. |
Impairment of loans and provision for off-balance sheet Positions [text block] | Impairment of loans and provision for off-balance sheet positions The impairment requirements of IFRS 9 apply to all credit exposures that are measured at amortized cost or FVOCI, and to off balance sheet lending commitments such as loan commitments and financial guarantees. For purposes of the impairment policy below, these instruments are referred to as (“Financial Assets”) The determination of impairment losses under IFRS 9 uses an expected credit loss (“ECL”) model, where allowances are taken upon initial recognition of the Financial Asset, based on expectations of potential credit losses at the time of initial recognition. Staged approach to the determination of expected credit losses IFRS 9 states a three stage approach to impairment for Financial Assets that are not credit impaired at the date of origination or purchase. This approach is summarized as follows: – – – 100 % Significant increase in credit risk When determining whether the credit risk (i.e., risk of default) of a Financial Asset has increased significantly since initial recognition, the Group considers reasonable and supportable information that is relevant and available without undue cost or effort. This includes quantitative and qualitative information based on the Group’s historical experience, credit risk assessment and forward-looking information (including macro-economic factors). The assessment of significant credit deterioration is key in determining when to move from measuring an allowance based on 12-month ECLs to one that is based on lifetime ECLs (i.e., transfer from Stage 1 to Stage 2). The Group’s framework for determining if there has been a significant increase in credit risk aligns with the internal Credit Risk Management (“CRM”) process and utilizes: – – These indicators are discussed further in section “IFRS 9 Impairment Approach” in the Risk Report. Credit impaired financial assets in Stage 3 The Group has aligned its definition of credit impaired under IFRS 9 to when a Financial Asset has defaulted for regulatory purposes, according to the Capital Requirements Regulation under Art. 178. The determination of whether a Financial Asset is credit impaired and therefore in Stage 3 focusses exclusively on default risk, without taking into consideration the effects of credit risk mitigants such as collateral or guarantees. Specifically, a Financial Asset is credit impaired and in Stage 3 when: – – For Financial Assets considered to be credit impaired, the ECL allowance covers the amount of loss the Group is expected to suffer. The estimation of ECLs is done on a case-by-case basis for non-homogeneous portfolios, or by applying portfolio based parameters to individual Financial Assets in these portfolios via the Group’s ECL model for homogeneous portfolios. This estimate includes the use of discounted cash flows that are adjusted for scenarios. Forecasts of future economic conditions when calculating ECLs are considered. The lifetime expected losses are estimated based on the probability-weighted present value of the difference between the contractual cash flows that are due to the Group under the contract; and the cash flows that the Group expects to receive. A Financial Asset can be classified as credit impaired in Stage 3 but without an allowance for credit losses (i.e., no impairment loss is expected). This may be due to the value of collateral. The Group’s engine based ECL calculation is conducted on a monthly basis, whereas the case-by-case assessment of ECL in Stage 3 for non-homogeneous portfolio has to be performed at least on a quarterly basis. Purchased or originated credit impaired financial assets in Stage 3 A Financial Asset is considered purchased or originated credit-impaired if there is objective evidence of impairment at the time of initial recognition. Such credit impaired Financial Assets are termed POCI Financial Assets. POCI Financial Assets are measured to reflect lifetime expected credit losses, and all subsequent changes in lifetime expected credit losses, whether positive or negative, are recognized in the income statement as a component of the provision for credit losses. POCI Financial Assets can only be classified in Stage 3 over the life of the Financial Asset. Write-offs The Group reduces the gross carrying amount of a Financial Asset when there is no reasonable expectation of recovery. Write-offs can relate to a Financial Asset in its entirety, or to a portion of it, and constitute a derecognition event. The Group considers all relevant information in making this determination, including but not limited to: – – – Write-offs can take place before legal actions against the borrower to recover the debt have been concluded, and a write-off does not involve the Group forfeiting its legal right to recover the debt. Interest Rate used in the IFRS 9 model In the context of the ECL calculation, the Group applies in line with IFRS 9 an approximation of the EIR, which is usually the contractual interest rate (“CIR”) and which does not materially differ from the EIR. The CIR is deemed to be an appropriate approximation, as the interest rate is consistently used in the ECL model, interest recognition and for discounting of the ECL. Collateral for financial assets considered in the impairment analysis IFRS 9 requires cash flows expected from collateral and other credit enhancement to be reflected in the ECL calculation. The following are key aspects with respect to collateral and guarantees: – – – These concepts are outlined in more detail in section “IFRS 9 Impairment Approach” in the Risk Report. Critical accounting estimates In assessing assets for impairments, management judgment is required, particularly in projecting forward looking information and scenarios in particular in circumstances of economic and financial uncertainty, when developments and changes to expected cash flows can occur both with greater rapidity and less predictability. The actual amount of the future cash flows and their timing may differ from the estimates used by management and consequently may cause actual losses to differ from reported allowances. For those non-homogeneous loans in Stage 3 the determination of the impairment allowance often requires the use of considerable judgment concerning such matters as local economic conditions, the financial performance of the counterparty and the value of any collateral held, for which there may not be a readily accessible market. The determination of the expected credit losses in Stages 1 and 2 and for homogeneous loans in Stage 3 is calculated using the Group’s ECL model. The model incorporates numerous estimates and judgments. The Group performs a regular review of the model and underlying data and assumptions. The probability of defaults, loss recovery rates and judgments concerning ability of borrowers in foreign countries to transfer the foreign currency necessary to comply with debt repayments, amongst other things, are incorporated into this review. – – – The quantitative disclosures are provided in Note 18 “Loans” and Note 19 “Allowance for credit losses”. |
Derecognition of Financial Assets and Liabilities [text block] | Derecognition of financial assets and liabilities Financial asset derecognition A financial asset is considered for derecognition when the contractual rights to the cash flows from the financial asset expire, or the Group has either transferred the contractual right to receive the cash flows from that asset, or has assumed an obligation to pay those cash flows to one or more recipients, subject to certain criteria. The Group derecognizes a transferred financial asset if it transfers substantially all the risks and rewards of ownership. The Group enters into transactions in which it transfers previously recognized financial assets but retains substantially all the associated risks and rewards of those assets; for example, a sale to a third party in which the Group enters into a concurrent total return swap with the same counterparty. These types of transactions are accounted for as secured financing transactions. In transactions in which substantially all the risks and rewards of ownership of a financial asset are neither retained nor transferred, the Group derecognizes the transferred asset if control over that asset is not retained, i.e., if the transferee has the practical ability to sell the transferred asset. The rights and obligations retained in the transfer are recognized separately as assets and liabilities, as appropriate. If control over the asset is retained, the Group continues to recognize the asset to the extent of its continuing involvement, which is determined by the extent to which it remains exposed to changes in the value of the transferred asset. The derecognition criteria are also applied to the transfer of part of an asset, rather than the asset as a whole, or to a group of similar financial assets in their entirety, when applicable. If transferring a part of an asset, such part must be a specifically identified cash flow, a fully proportionate share of the asset, or a fully proportionate share of a specifically-identified cash flow. If an existing financial asset is replaced by another asset from the same counterparty on substantially different terms, or if the terms of the financial asset are substantially modified (due to forbearance measures or otherwise), the existing financial asset is derecognized and a new asset is recognized. Any difference between the respective carrying amounts is recognized in the Consolidated Statement of Income. Securitization The Group securitizes various consumer and commercial financial assets, which is achieved via the transfer of these assets to a structured entity, which issues securities to investors to finance the acquisition of the assets. Financial assets awaiting securitization are classified and measured as appropriate under the policies in the “Financial Assets and Liabilities” section. If the structured entity is not consolidated then the transferred assets may qualify for derecognition in full or in part, under the policy on derecognition of financial assets. Synthetic securitization structures typically involve derivative financial instruments for which the policies in the “Derivatives and Hedge Accounting” section would apply. Those transfers that do not qualify for derecognition may be reported as secured financing or result in the recognition of continuing involvement liabilities. The investors and the securitization vehicles generally have no recourse to the Group’s other assets in cases where the issuers of the financial assets fail to perform under the original terms of those assets. Interests in the securitized financial assets may be retained in the form of senior or subordinated tranches, interest only strips or other residual interests (collectively referred to as “retained interests”). Provided the Group’s retained interests do not result in consolidation of a structured entity, nor in continued recognition of the transferred assets, these interests are typically recorded in financial assets at fair value through profit or loss and carried at fair value. Consistent with the valuation of similar financial instruments, the fair value of retained tranches or the financial assets is initially and subsequently determined using market price quotations where available or internal pricing models that utilize variables such as yield curves, prepayment speeds, default rates, loss severity, interest rate volatilities and spreads. The assumptions used for pricing are based on observable transactions in similar securities and are verified by external pricing sources, where available. Where observable transactions in similar securities and other external pricing sources are not available, management judgment must be used to determine fair value. The Group may also periodically hold interests in securitized financial assets and record them at amortized cost. In situations where the Group has a present obligation (either legal or constructive) to provide financial support to an unconsolidated securitization entity a provision will be created if the obligation can be reliably measured and it is probable that there will be an outflow of economic resources required to settle it. When an asset is derecognized a gain or loss equal to the difference between the consideration received and the carrying amount of the transferred asset is recorded. When a part of an asset is derecognized, gains or losses on securitization depend in part on the carrying amount of the transferred financial assets, allocated between the financial assets derecognized and the retained interests based on their relative fair values at the date of the transfer. Derecognition of financial liabilities A financial liability is derecognized when the obligation under the liability is discharged or cancelled or expires. If an existing financial liability is replaced by another from the same lender on substantially different terms, or the terms of the existing liability are substantially modified, such an exchange or modification is treated as a derecognition of the original liability and the recognition of a new liability, and the difference in the respective carrying amounts is recognized in the Consolidated Statement of Income. Repurchase and reverse repurchase agreements Securities purchased under resale agreements (“reverse repurchase agreements”) and securities sold under agreements to repurchase (“repurchase agreements”) are treated as collateralized financings and are recognized initially at fair value, being the amount of cash disbursed and received, respectively. The party disbursing the cash takes possession of the securities serving as collateral for the financing and having a market value equal to, or in excess of, the principal amount loaned. The securities received under reverse repurchase agreements and securities delivered under repurchase agreements are not recognized on, or derecognized from, the balance sheet, because the risks and rewards of ownership are not obtained nor relinquished. Securities delivered under repurchase agreements which are not derecognized from the balance sheet and where the counterparty has the right by contract or custom to sell or repledge the collateral are disclosed in Note 20 “Transfer of Financial Assets, Assets Pledged and Received as Collateral”. The Group allocates reverse repurchase portfolios that are managed on a fair value basis to the other business model under IFRS 9 and classifies them as “Non-trading financial assets mandatory at fair value through profit or loss”. Interest earned on reverse repurchase agreements and interest incurred on repurchase agreements is reported as interest income and interest expense, respectively. Securities borrowed and securities loaned Securities borrowed transactions generally require the Group to deposit cash with the securities lender. In a securities loaned transaction, the Group generally receives either cash collateral, in an amount equal to or in excess of the market value of securities loaned, or securities. The Group monitors the fair value of securities borrowed and securities loaned and additional collateral is disbursed or obtained, if necessary. The securities borrowed are not themselves recognized in the financial statements. If they are sold to third parties, the obligation to return the securities is recorded as a financial liability at fair value through profit or loss and any subsequent gain or loss is included in the Consolidated Statement of Income in net gains (losses) on financial assets/liabilities at fair value through profit or loss. Securities lent to counterparties are also retained on the Consolidated balance sheet. The Group records the amount of cash advanced or received as securities borrowed and securities loaned, respectively, in the Consolidated balance sheet. Fees received or paid are reported in interest income and interest expense, respectively. Securities lent to counterparties which are not derecognized from the Consolidated balance sheet and where the counterparty has the right by contract or custom to sell or repledge the collateral are disclosed in Note 20 “Transfer of Financial Assets, Assets Pledged and Received as Collateral”. |
Goodwill and Other Intangible Assets [text block] | Goodwill and other intangible assets Goodwill arises on the acquisition of subsidiaries and associates and represents the excess of the aggregate of the cost of an acquisition and any non-controlling interests in the acquiree over the fair value of the identifiable net assets acquired at the date of the acquisition. For the purpose of calculating goodwill, fair values of acquired assets, liabilities and contingent liabilities are determined by reference to market values or by discounting expected future cash flows to present value. This discounting is either performed using market rates or by using risk-free rates and risk-adjusted expected future cash flows. Any non-controlling interests in the acquiree are measured either at fair value or at the non-controlling interests’ proportionate share of the acquiree’s identifiable net assets (this is determined for each business combination). Goodwill on the acquisition of subsidiaries is capitalized and reviewed for impairment annually or more frequently if there are indications that impairment may have occurred. For the purposes of impairment testing, goodwill acquired in a business combination is allocated to cash-generating units (“CGUs”), which are the smallest identifiable groups of assets that generate cash inflows largely independent of the cash inflows from other assets or groups of assets and that are expected to benefit from the synergies of the combination and considering the business level at which goodwill is monitored for internal management purposes. In identifying whether cash inflows from an asset (or a group of assets) are largely independent of the cash inflows from other assets (or groups of assets) various factors are considered, including how management monitors the entity’s operations or makes decisions about continuing or disposing of the entity’s assets and operations. If goodwill has been allocated to a CGU and an operation within that unit is disposed of, the attributable goodwill is included in the carrying amount of the operation when determining the gain or loss on its disposal. Corporate assets are allocated to a CGU when the allocation can be done on a reasonable and consistent basis. If this is not possible, the individual CGU is tested without the corporate assets. They are then tested on the level of the minimum collection of CGUs to which they can be allocated on a reasonable and consistent basis. Intangible assets are recognized separately from goodwill when they are separable or arise from contractual or other legal rights and their fair value can be measured reliably. Intangible assets that have a finite useful life are stated at cost less any accumulated amortization and accumulated impairment losses. Customer-related intangible assets that have a finite useful life are amortized over periods of between 1 and 20 years on a straight-line basis based on their expected useful life. These assets are tested for impairment and their useful lives reaffirmed at least annually. Certain intangible assets have an indefinite useful life and hence are not amortized, but are tested for impairment at least annually or more frequently if events or changes in circumstances indicate that impairment may have occurred. Costs related to software developed or obtained for internal use are capitalized if it is probable that future economic benefits will flow to the Group and the cost can be measured reliably. Capitalized costs are amortized using the straight-line method over the asset’s useful life which is deemed to be either three, five or ten years. Eligible costs include external direct costs for materials and services, as well as payroll and payroll-related costs for employees directly associated with an internal-use software project. Overhead costs, as well as costs incurred during the research phase or after software is ready for use, are expensed as incurred. Capitalized software costs are tested for impairment either annually if still under development or any time when there is an indication of impairment once the software is in use. Critical accounting estimates The quantitative disclosures are provided in Note 23 “Goodwill and other intangible assets”. |
Provisions [text block] | Provisions Provisions are recognized if the Group has a present legal or constructive obligation as a result of past events, if it is probable that an outflow of resources will be required to settle the obligation, and a reliable estimate can be made of the amount of the obligation. The amount recognized as a provision is the best estimate of the consideration required to settle the present obligation as of the balance sheet date, taking into account the risks and uncertainties surrounding the obligation. If the effect of the time value of money is material, provisions are discounted and measured at the present value of the expenditure expected to be required to settle the obligation, using a pre-tax rate that reflects the current market assessments of the time value of money and the risks specific to the obligation. The increase in the provision due to the passage of time is recognized as interest expense. When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party (for example, because the obligation is covered by an insurance policy), an asset is recognized if it is virtually certain that reimbursement will be received. If the Group has a contract that is onerous, the present obligation under the contract is recognized and measured as a provision. An onerous contract is a contract in which the unavoidable costs of meeting the obligations under the contract exceed the economic benefits expected to be received under it. Critical accounting estimates Contingencies in respect of legal matters are subject to many uncertainties and the outcome of individual matters is not predictable with assurance. Significant judgment is required in assessing probability and making estimates in respect of contingencies, and the Group’s final liability may ultimately be materially different. The Group’s total liability in respect of litigation, arbitration and regulatory proceedings is determined on a case-by-case basis and represents an estimate of probable losses after considering, among other factors, the progress of each case, the Group’s experience and the experience of others in similar cases, and the opinions and views of legal counsel. Predicting the outcome of the Group’s litigation matters is inherently difficult, particularly in cases in which claimants seek substantial or indeterminate damages. See Note 27 “Provisions” for further information on the uncertainties from the Group’s judicial, regulatory and arbitration proceedings. |
Income Taxes [text block] | Income taxes The Group recognizes the current and deferred tax consequences of transactions that have been included in the consolidated financial statements using the provisions of the respective jurisdictions’ tax laws. Current and deferred taxes are recognized in profit or loss except to the extent that the tax relates to items that are recognized directly in equity or other comprehensive income in which case the related tax is recognized either directly in equity or other comprehensive income accordingly. Deferred tax assets and liabilities are recognized for future tax consequences attributable to temporary differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases, unused tax losses and unused tax credits. Deferred tax assets are recognized only to the extent that it is probable that sufficient taxable profit will be available against which those unused tax losses, unused tax credits and deductible temporary differences can be utilized. Deferred tax assets and liabilities are measured based on the tax rates that are expected to apply in the period that the asset is realized or the liability is settled, based on tax rates and tax laws that have been enacted or substantively enacted at the balance sheet date. Current tax assets and liabilities are offset when (1) they arise from the same tax reporting entity or tax group of reporting entities, (2) the legally enforceable right to offset exists and (3) they are intended to be settled net or realized simultaneously. Deferred tax assets and liabilities are offset when the legally enforceable right to offset current tax assets and liabilities exists and the deferred tax assets and liabilities relate to income taxes levied by the same taxing authority on either the same tax reporting entity or tax group of reporting entities. Deferred tax liabilities are provided on taxable temporary differences arising from investments in subsidiaries, branches and associates and interests in joint ventures except when the timing of the reversal of the temporary difference is controlled by the Group and it is probable that the difference will not reverse in the foreseeable future. Deferred income tax assets are provided on deductible temporary differences arising from such investments only to the extent that it is probable that the differences will reverse in the foreseeable future and sufficient taxable income will be available against which those temporary differences can be utilized. Deferred tax related to fair value remeasurement of financial assets classified as FVTOCI, cash flow hedges and other items, which are charged or credited directly to other comprehensive income, is also credited or charged directly to other comprehensive income and subsequently recognized in the Consolidated Statement of Income once the underlying transaction or event to which the deferred tax relates is recognized in the Consolidated Statement of Income. For share-based payment transactions, the Group may receive a tax deduction related to the compensation paid in shares. The amount deductible for tax purposes may differ from the cumulative compensation expense recorded. At any reporting date, the Group must estimate the expected future tax deduction based on the current share price. The associated current and deferred tax consequences are recognized as income or expense in the consolidated statement of Income for the period. If the amount deductible, or expected to be deductible, for tax purposes exceeds the cumulative compensation expense, the excess tax benefit is recognized directly in equity. Critical accounting estimates The Group believes that the accounting estimate related to the deferred tax assets is a critical accounting estimate because the underlying assumptions can change from period to period and requires significant management judgment. For example, tax law changes or variances in future projected operating performance could result in a change of the deferred tax asset. If the Group was not able to realize all or part of its net deferred tax assets in the future, an adjustment to its deferred tax assets would be charged to income tax expense or directly to equity in the period such determination was made. If the Group was to recognize previously unrecognized deferred tax assets in the future, an adjustment to its deferred tax asset would be credited to income tax expense or directly to equity in the period such determination was made. The use of estimates is also important in determining provisions for potential losses that may arise from uncertain income tax positions. The Group estimates and provides for potential losses that may arise out of uncertain income tax positions, in accordance with IAS 12, “Income Taxes” and IFRIC 23, “Uncertainty over Income Tax Treatment”. Significant judgment is required in making these estimates and the Group’s final liabilities may ultimately be materially different. For further information on the Group’s deferred taxes (including quantitative disclosures on recognized deferred tax assets) see Note 34 “Income Taxes”. |
Business Combinations and Noncontrolling Interests [text block] | Business combinations and non-controlling Interests The Group uses the acquisition method to account for business combinations. At the date the Group obtains control of the subsidiary, the cost of an acquisition is measured at the fair value of the consideration given, including any cash or non-cash consideration (equity instruments) transferred, any contingent consideration, any previously held equity interest in the acquiree and liabilities incurred or assumed. The excess of the aggregate of the cost of an acquisition and any non-controlling interests in the acquiree over the Group’s share of the fair value of the identifiable net assets acquired is recorded as goodwill. If the aggregate of the acquisition cost and any non-controlling interests is below the fair value of the identifiable net assets (negative goodwill), a gain is reported in other income. Acquisition-related costs are recognized as expenses in the period in which they are incurred. In business combinations achieved in stages (“step acquisitions”), a previously held equity interest in the acquiree is remeasured to its acquisition-date fair value and the resulting gain or loss, if any, is recognized in profit or loss. Amounts recognized in prior periods in other comprehensive income associated with the previously held investment would be recognized on the same basis as would be required if the Group had directly disposed of the previously held equity interest. Non-controlling interests are shown in the consolidated balance sheet as a separate component of equity, which is distinct from the Group’s shareholders’ equity. The net income attributable to non-controlling interests is separately disclosed on the face of the Consolidated Statement of Income. Changes in the ownership interest in subsidiaries which do not result in a change of control are treated as transactions between equity holders and are reported in additional paid-in capital (“APIC”). |
Non-Current Assets Held for Sale [text block] | Non-current assets held for sale Individual non-current assets (and disposal groups) are classified as held for sale if they are available for immediate sale in their present condition subject only to the customary sales terms of such assets (and disposal groups) and their sale is considered highly probable. For a sale to be highly probable, management must be committed to a sales plan and be actively looking for a buyer and has no substantive regulatory approvals outstanding. Furthermore, the assets (and disposal groups) must be actively marketed at a reasonable sales price in relation to their current fair value and the sale should be expected to be completed within one year. Non-current non-financial assets (and disposal groups) which meet the criteria for held for sale classification are measured at the lower of their carrying amount and fair value less costs of disposal and are presented within “Other assets” and “Other liabilities” in the balance sheet. Financial assets and liabilities meeting the criteria continue to be measured in accordance with IFRS 9. The comparatives are not represented when non-current assets (and disposal groups) are classified as held for sale. If the disposal group contains financial instruments, no adjustment to their carrying amounts is permitted. |
Property and Equipment [text block] | Property and equipment Property and equipment includes own-use properties, leasehold improvements, furniture and equipment and software (operating systems only). Right-of-use assets are presented together with property and equipment on the Group’s consolidated balance sheet. Own-use properties are carried at cost less accumulated depreciation and accumulated impairment losses. Depreciation is generally recognized using the straight-line method over the estimated useful lives of the assets. The range of estimated useful lives is 25 to 50 years for property and 3 to 10 years for furniture and equipment (including initial improvements to purchased buildings). Leasehold improvements are capitalized and subsequently depreciated on a straight-line basis over the shorter of the term of the lease and the estimated useful life of the improvement, which generally ranges from 3 to 25 years. Depreciation of property and equipment is included in general and administrative expenses. Maintenance and repairs are also charged to general and administrative expenses. Gains and losses on disposals are included in other income. Property and equipment are assessed for any indication of impairment at each quarterly reporting date. If such indication exists, the recoverable amount, which is the higher of fair value less costs of disposal and value in use, must be estimated and an impairment charge is recorded to the extent the recoverable amount is less than its carrying amount. Value in use is the present value of the future cash flows expected to be derived from the asset. After the recognition of impairment of an asset, the depreciation charge is adjusted in future periods to reflect the asset’s revised carrying amount. If an impairment is later reversed, the depreciation charge is adjusted prospectively. |
Financial Guarantees [text block] | Financial guarantees Financial guarantee contracts are contracts that require the issuer to make specified payments to reimburse the holder for a loss it incurs because a specified debtor fails to make payments when due in accordance with the terms of a debt instrument. Financial guarantees written The Group has chosen to apply the fair value option to certain written financial guarantees that are managed on a fair value basis. Financial guarantees that the Group has not designated at fair value are recognized initially at fair value on the date the guarantee is given. Subsequent to initial recognition, the Group’s liabilities under such guarantees are measured at the higher of the amount initially recognized, less cumulative amortization, and the best estimate of the expenditure required to settle any financial obligation as of the balance sheet date. These estimates are determined based on experience with similar transactions and history of past losses, and management’s determination of the best estimate. Any increase in the liability relating to guarantees is recorded in the Consolidated Statement of Income in provision for credit losses. Financial guarantees purchased Purchased financial guarantees result in reimbursements under IAS 37 to the extent that the financial guarantee is entered into to mitigate the credit exposure from debt instruments with HTC or HTC&S business models. This results in recognition of a reimbursement asset for subsequent increases in the expected credit losses, to the extent it is virtually certain that the purchased financial guarantee will reimburse the Group for the loss incurred. Accordingly, when the credit risk of the borrower significantly deteriorates a reimbursement asset is recognized equal to the life-time expected credit losses and is presented as Other Assets in the Group’s Consolidated Balance Sheet. The corresponding reimbursement gain is recognized as a reduction in the Provision for credit losses in the Group’s Consolidated Statement of Income. Purchased financial guarantees entered into to mitigate credit exposure from debt instruments allocated to HTC or HTC&S business models may also be embedded in Collateralized Loan Obligations (CLO’s) issued by the Group. Such embedded guarantees are not accounted for separately as a reimbursement asset and instead accounted as part of the CLO’s liability held at amortized cost. The Group regularly revises its estimated contractual redemption payment (including the benefit of such embedded guarantees) from the CLO when the credit risk of a borrower covered by the embedded financial guarantee in the CLO significantly deteriorates. The revision is based on the life-time expected credit losses of the debt instrument (to the extent covered by the CLO). Purchased financial guarantees entered into to mitigate credit exposure from debt instruments included in the Other business model are accounted for at fair value through profit or loss. |
Leasing Transactions [text block] | Leasing transactions The Group enters into lease contracts, predominantly for land and buildings, as a lessee. Other categories are company cars and technical/IT equipment. The Group assesses at contract inception whether a contract is, or contains, a lease. That is, if the contract conveys the right to control the use of an identified asset for a period of time in exchange for consideration. The Group applies a single recognition and measurement approach for all leases with a term of more than 12 months, unless the underlying asset is of low value. As a lessee, at the lease commencement date, the Group recognizes a right-of-use asset representing its right to use the underlying leased asset and a lease liability representing its obligation to make lease payments. The right-of-use asset is measured at cost, less any accumulated depreciation and impairment losses, and adjusted for any re-measurement of lease liabilities. The cost of right-of-use assets includes the amount of lease liabilities, adjusted for any lease payments made at or before the commencement date, plus any initial direct costs incurred and an estimate of costs to dismantle and remove the underlying asset or to restore the site on which it is located, less any lease incentives received. Right-of-use assets are depreciated on a straight-line basis over the lease term. The lease liability is measured at the present value of lease payments to be made over the lease term. The lease payments include fixed payments (including in substance fixed payments) less any lease incentives receivable and variable lease payments that depend on an index or a rate. Variable lease payments that do not depend on an index or a rate are recognized as expenses in the period in which the event or condition that triggers the payment occurs. In calculating the present value of lease payments, the Group uses its incremental borrowing rate at the lease commencement date because the interest rate implicit in the lease is not readily determinable. After the commencement date, the amount of lease liabilities is increased to reflect the accretion of interest and reduced for the lease payments made. In addition, the carrying amount of lease liabilities is re-measured if there is a modification, a change in the lease term or a change in the lease payments (e.g., changes to future payments resulting from a change in an index or rate used to determine such lease payments). Right-of-use assets are assessed for any indication of impairment at each quarterly reporting date. If such indication exists, the recoverable amount, which is the fair value less costs of disposal, must be estimated and an impairment charge is recorded to the extent the recoverable amount is less than its carrying amount. As right-of-use assets do not have independently generated cash flows to calculate its value in use, the Group considers any sublease income that could reasonably be earned. After the recognition of impairment of an asset, the depreciation charge is adjusted in future periods to reflect the asset’s revised carrying amount. If an impairment is later reversed, the depreciation charge is adjusted prospectively. The Group presents right-of-use assets “Property and Equipment” and lease liabilities in “Other Liabilities”. The Group applies the short-term lease recognition exemption to its short-term leases, i.e., those leases that have a lease term of 12 months or less from the commencement date. It also applies the lease of low-value assets recognition exemption to leases of technical/IT equipment that are considered to be low value. Lease payments on short-term leases and leases of low value assets are recognized as expense on a straight-line basis over the lease term. |
Employee Benefits [text block] | Employee benefits Pension benefits The Group provides a number of pension plans. In addition to defined contribution plans, there are retirement benefit plans accounted for as defined benefit plans. The assets of all the Group’s defined contribution plans are held in independently administered funds. Contributions are generally determined as a percentage of salary and are expensed based on employee services rendered, generally in the year of contribution. All retirement benefit plans accounted for as defined benefit plans are valued using the projected unit-credit method to determine the present value of the defined benefit obligation and the related service costs. Under this method, the determination is based on actuarial calculations which include assumptions about demographics, salary increases and interest and inflation rates. Actuarial gains and losses are recognized in other comprehensive income and presented in equity in the period in which they occur. The majority of the Group’s benefit plans is funded. For the Group’s most significant pension plans in the key countries, the discount rate used at each measurement date is set based on a high quality corporate bond yield curve – derived based on bond universe information sourced from reputable third-party index data providers and rating agencies – reflecting the timing, amount and currency of the future expected benefit payments for the respective plan. Other post-employment benefits In addition, the Group maintains unfunded contributory post-employment medical plans for a number of current and retired employees who are mainly located in the United States. These plans pay stated percentages of eligible medical and dental expenses of retirees after a stated deductible has been met. The Group funds these plans on a cash basis as benefits are due. Analogous to retirement benefit plans these plans are valued using the projected unit-credit method. Actuarial gains and losses are recognized in full in the period in which they occur in other comprehensive income and presented in equity. Refer to Note 33 “Employee benefits” for further information on the accounting for pension benefits and other post-employment benefits. Termination benefits Termination benefits arise when employment is terminated by the Group before the normal retirement date or whenever an employee accepts voluntary redundancy in exchange for these benefits. The Group recognizes termination benefits as a liability and an expense if the Group is demonstrably committed to a detailed formal plan without realistic possibility of withdrawal. In the case of an offer made to encourage voluntary redundancy, termination benefits are measured based on the number of employees expected to accept the offer. Benefits falling due more than twelve months after the end of the reporting period are discounted to their present value. The discount rate is determined by reference to market yields on high-quality corporate bonds. Share-based compensation Compensation expense for awards classified as equity instruments is measured at the grant date based on the fair value of the share-based award. For share awards, the fair value is the quoted market price of the share reduced by the present value of the expected dividends that will not be received by the employee and adjusted for the effect, if any, of restrictions beyond the vesting date. In case an award is modified such that its fair value immediately after modification exceeds its fair value immediately prior to modification, a remeasurement takes place and the resulting increase in fair value is recognized as additional compensation expense. The Group records the offsetting amount to the recognized compensation expense in additional paid-in capital (“APIC”). Compensation expense is recorded on a straight-line basis over the period in which employees perform services to which the awards relate or over the period of the tranches for those awards delivered in tranches. Estimates of expected forfeitures are periodically adjusted in the event of actual forfeitures or for changes in expectations. The timing of expense recognition relating to grants which, due to early retirement provisions, include a nominal but non-substantive service period are accelerated by shortening the amortization period of the expense from the grant date to the date when the employee meets the eligibility criteria for the award, and not the vesting date. For awards that are delivered in tranches, each tranche is considered a separate award and amortized separately. Compensation expense for share-based awards payable in cash is remeasured to fair value at each balance sheet date and recognized over the vesting period in which the related employee services are rendered. The related obligations are included in other liabilities until paid. |
Government Grants [text block] | Government Grants The Group recognizes income from government grants when there is reasonable assurance that it will receive the grant and will comply with the conditions attached to the grant. The benefit is recognized in the period in which the grant is intended to compensate the Group for related costs and presented as a reduction of the related expense. The Group considers the European Central Bank (ECB) as a government or similar body for the purposes of IAS 20. The effective interest rate for borrowings under the ECB’s Targeted Longer-Term Refinancing Operations III (“TLTRO III”)-refinancing program is determined based on the applicable ECB refinancing rates outside of TLTRO III. The Group accounts for the benefit as a government grant. The TLTRO III refinancing program is intended to stimulate credit creation in the Eurozone area by incentivizing lending by participating banks to non-financial corporations and households. The size of the benefit depends on the amounts borrowed and on meeting the various lending performance thresholds. During 2021, the IFRS Interpretations Committee (IFRS IC) received a request to clarify how to account for TLTRO III but, as of the date of these financial statements, has not yet published its final view on this matter. The Group has closely monitored the IFRS IC deliberations on this topic and the Group’s assessment of TLTRO III. In this respect while DB awaits the final agenda decision from the IFRS IC deliberations it does not expect a material impact from the decision. For further information on the benefit recognized by the Group from the TLTRO III refinancing program see Note 5 “Net interest income and net gains (losses) on financial assets/liabilities at fair value through profit or loss”. |
Obligations to Purchase Common Shares [text block] | Obligations to purchase common shares Forward purchases of Deutsche Bank shares, and written put options where Deutsche Bank shares are the underlying, are reported as obligations to purchase common shares if the number of shares is fixed and physical settlement for a fixed amount of cash is required. At inception, the obligation is recorded at the present value of the settlement amount of the forward or option. For forward purchases and written put options of Deutsche Bank shares, a corresponding charge is made to shareholders’ equity and reported as equity classified as an obligation to purchase common shares. The liabilities are accounted for on an accrual basis, and interest costs, which consist of time value of money and dividends, on the liability are reported as interest expense. Upon settlement of such forward purchases and written put options, the liability is extinguished and the charge to equity is reclassified to common shares in treasury. Deutsche Bank common shares subject to such forward contracts are not considered to be outstanding for purposes of basic earnings per share calculations, but are for dilutive earnings per share calculations to the extent that they are, in fact, dilutive. Option and forward contracts on Deutsche Bank shares are classified as equity if the number of shares is fixed and physical settlement is required. All other contracts in which Deutsche Bank shares are the underlying are recorded as financial assets or liabilities at fair value through profit or loss. |
Consolidated Statement of Cash Flows [text block] | Consolidated statement of cash flows For purposes of the consolidated statement of cash flows, the Group’s cash and cash equivalents include highly liquid investments that are readily convertible into cash and which are subject to an insignificant risk of change in value. Such investments include cash and balances at central banks and demand deposits with banks. The Group’s assignment of cash flows to the operating, investing or financing category depends on the business model (“management approach”). For the Group the primary operating activity is to manage financial assets and financial liabilities. Therefore, the issuance and management of long-term borrowings is a core operating activity which is different than for a non-financial company, where borrowing is not a principal revenue producing activity and thus is part of the financing category. The Group views the issuance of senior long-term debt as an operating activity. Senior long-term debt comprises structured notes and asset-backed securities, which are designed and executed by the Corporate Bank and Investment Bank business line segments and which are revenue generating activities. The other component is debt issued by Treasury, which is considered interchangeable with other funding sources; all of the funding costs are allocated to business activities to establish their profitability. Cash flows related to subordinated long-term debt and trust preferred securities are viewed differently than those related to senior-long term debt because they are managed as an integral part of the Group’s capital, primarily to meet regulatory capital requirements. As a result they are not interchangeable with other operating liabilities, but can only be interchanged with equity and thus are considered part of the financing category. The amounts shown in the consolidated statement of cash flows do not precisely match the movements in the consolidated balance sheet from one period to the next as they exclude non-cash items such as movements due to foreign exchange translation and movements due to changes in the group of consolidated companies. Movements in balances carried at fair value through profit or loss represent all changes affecting the carrying value. This includes the effects of market movements and cash inflows and outflows. The movements in balances carried at fair value are usually presented in operating cash flows. |
Risk Report - Credit Risk Manag
Risk Report - Credit Risk Management IFRS 9 (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Credit Risk Management [Abstract] | |
Forward-looking information applied [table text block] | Forward-looking information applied December 31, 2021¹ ² Year 1 Year 2 Commodity - Gold 1,764.58 1,696.51 Commodity - WTI 73.19 68.21 Credit - CDX Emerging Markets 231.80 268.64 Credit - CDX High Yield 353.42 399.62 Credit - CDX IG 59.53 63.98 Credit - High Yield Index 3.95 4.46 Credit - ITX Europe 125 61.37 69.93 Equity - MSCI Asia 1,543 1,514 Equity - Nikkei 29,673 30,764 Equity - S&P500 4,777 5,033 GDP - Developing Asia 3.78 % 6.26 % GDP - Emerging Markets 3.72 % 5.38 % GDP - Eurozone 4.67 % 2.91 % GDP - Germany 3.35 % 2.86 % GDP - Italy 5.17 % 2.33 % GDP - USA 4.46 % 2.79 % Real Estate Prices - US CRE Index 348.86 377.26 Unemployment - Eurozone 7.41 % 7.07 % Unemployment - Germany 3.13 % 2.83 % Unemployment - Italy 9.18 % 8.92 % Unemployment - Japan 2.73 % 2.53 % Unemployment - Spain 14.26 % 13.66 % Unemployment - USA 4.05 % 3.68 % 1 MEV as of 31 December 2021; MEV outside the calibrated range were adjusted either in the model or via a management overlay as discussed further below. 2 Year 1 equals fourth quarter of 2021 to third quarter of 2022, Year 2 equals fourth quarter of 2022 to third quarter of 2023. December 31. 2020¹ ² Year 1 Year 2 Year 3 Credit - ITX Europe 125 52.81 − − FX - EUR/USD 1.20 − − GDP Eurozone 1.38 % 4.37 % 2.32 % GDP Germany 1.54 % 4.01 % 2.08 % GDP Italy 1.92 % 3.80 % 1.93 % GDP USA 2.80 % 3.35 % 2.29 % Rate - US Treasury 2y 0.17 % – − Unemployment - Eurozone 8.86 % 8.35 % 7.94 % Unemployment - Germany 4.30 % 3.95 % 3.72 % Unemployment - Italy 10.65 % 10.38 % 9.85 % Unemployment - Spain 17.89 % 16.32 % 15.49 % Unemployment - USA 6.40 % 5.19 % 4.46 % 1 Rates, FX and credit spreads as per December 7 release; GDP, unemployment forecasts updated per December 16. 2 Year 1 equals fourth quarter of 2020 to third quarter of 2021, Year 2 equals fourth quarter of 2021 to third quarter of 2022. |
Development of overlays from previous year to current year [table text block] | Development of overlays from December 31, 2020 to December 31, 2021 in € m. (unless stated otherwise) Overlays as of December 31, 2020 Discontinued overlays New Overlays Overlays as of December 31, 2021 Overlay description Impact on 3y averaging of specific MEVs All financial assets in Stage 1 and 2 (104) 104 0 0 COVID-19 related downside risks All financial assets in Stage 1 and 2 130 (130) 0 0 Construction Risk following increased prices for building materials Mortgage portfolios in Private Bank in Stage 1 and 2 0 0 15 15 Model calibration (MEV outside calibrated range of the FLI model) All financial assets in Stage 1 and 2 0 0 56 56 Recalibrations required due to the new Definition of Default Financial assets primarily in Private Bank in Stage 3 0 0 (57) (57) Total 26 (26) 14 14 |
Sensitivities of forward-looking information Group [Abstract] | |
Sensitivities of forward-looking information Group [table text block] | IFRS 9 – Sensitivities of Forward-Looking Information – Group Level December 31, 2021 Upward sensitivity Downward sensitivity Upward shift ECL impact Downward shift ECL impact GDP growth rates 1pp (49.4) (1)pp 55.5 Unemployment rates (0.5)pp (23.8) 0.5pp 25.4 Real estate prices 5% (3.9) (5)% 4.2 Equities 10% (7.2) (10)% 9.4 Credit spreads (40)% (20.9) 40% 23.5 Commodities¹ 10% (15.0) (10)% 16.2 1 Here the sign of the shift applies to oil prices changes. Gold price changes have the opposite sign. 1pp (percentage point), e.g. GDP shifts from 3 % to 4 % // 1 % (percentage change), e.g. Real estate price shifts from 100 to 101. December 31, 2020 Upward sensitivity Downward sensitivity Upward shift ECL impact Downward shift ECL impact GDP growth rates 1pp (93.5) (1)pp 99.1 Unemployment rates (0.5)pp (49.9) 0.5pp 56.4 |
Sensitivities of forward-looking information on Stage 1 and Stage 2 Corporate Bank [table text block] | IFRS 9 – Sensitivities of Forward-Looking Information applied on Stage 1 and Stage 2 - Corporate Bank December 31, 2021 Upward sensitivity Downward sensitivity Upward shift ECL impact Downward shift ECL impact GDP growth rates 1pp (12.5) (1)pp 13.7 Unemployment rates (0.5)pp (8.9) 0.5pp 9.6 Real estate prices 5% (0.5) (5)% 0.5 Credit spreads (40)% (4.3) 40% 4.9 Commodities¹ 10% (4.5) (10)% 5.0 ¹ Here the sign of the shift applies to oil prices changes. Gold price changes have the opposite sign. |
Sensitivities of forward-looking information on Stage 1 and Stage 2 Investment Bank [table text block] | IFRS 9 – Sensitivities of Forward-Looking Information applied on Stage 1 and Stage 2 - Investment Bank December 31, 2021 Upward sensitivity Downward sensitivity Upward shift ECL impact Downward shift ECL impact GDP growth rates 1pp (24.5) (1)pp 27.7 Unemployment rates (0.5)pp (3.7) 0.5pp 4.2 Real estate prices 5% (3.4) (5)% 3.6 Equities 10% (2.4) (10)% 3.1 Credit spreads (40)% (14.4) 40% 15.8 Commodities¹ 10% (10.1) (10)% 10.8 ¹ Here the sign of the shift applies to oil prices changes. Gold price changes have the opposite sign. |
Sensitivities of forward-looking information on Stage 1 and Stage 2 Private Bank [table text block] | IFRS 9 – Sensitivities of Forward-Looking Information applied on Stage 1 and Stage 2 - Private Bank December 31, 2021 Upward sensitivity Downward sensitivity Upward shift ECL impact Downward shift ECL impact GDP growth rates 1pp (10.0) (1)pp 10.7 Unemployment rates (0.5)pp (9.7) 0.5pp 9.8 |
Legislative and non-legislative moratoria and public guarantee schemes in light of COVID-19 Pandemic [Abstract] | |
Overview of active and expired moratoria, forbearance measures and guarantee schemes in light of COVID-19 pandemic [table text block] | Overview of active and expired moratoria, forbearance measures and guarantee schemes in light of COVID-19 pandemic Dec 31, 2021 Dec 31, 2020 in € m. Loans and advances subject to EBA-compliant moratoria Loans and advances subject to COVID-19-related forbearance measures Newly originated loans and advances subject to public guarantee schemes in the context of the COVID-19 crisis 1 Loans and advances subject to EBA-compliant moratoria Other loans and advances subject to COVID-19-related forbearance measures Newly originated loans and advances subject to public guarantee schemes in the context of the COVID-19 crisis Corporate Bank 519 2,466 2,322 610 2,956 2,362 Investment Bank 108 3,501 60 107 4,353 60 Private Bank 6,357 928 1,570 7,499 1,114 1,124 Capital Release Unit 384 2 0 433 0 0 Total 7,368 6,897 3,952 8,649 8,424 3,546 1 Excluding € 0.3 billion € 0.3 billion |
Breakdown of COVID-19 related measures by stages [table text block] | Breakdown of COVID-19 related measures by stages Dec 31, 2021 Legislative and non-legislative Moratoria COVID-19 related forbearance measures Public guarantee schemes in € m. Gross Carrying Amount Expected Credit Losses Gross Carrying Amount Expected Credit Losses Gross Carrying Amount Expected Credit Losses Stage 1 5,381 (10) 3,330 (6) 3,079 (2) Stage 2 1,288 (30) 2,602 (31) 770 (9) Stage 3 698 (162) 965 (122) 103 (14) Total 7,368 (202) 6,897 (158) 3,952 (25) Dec 31, 2020 Legislative and non-legislative Moratoria COVID-19 related forbearance measures Public guarantee schemes in € m. Gross Carrying Amount Expected Credit Losses Gross Carrying Amount Expected Credit Losses Gross Carrying Amount Expected Credit Losses Stage 1 6,464 (23) 5,746 (18) 3,135 (3) Stage 2 1,872 (63) 1,994 (54) 360 (4) Stage 3 313 (69) 684 (80) 51 (4) Total 8,649 (155) 8,424 (152) 3,546 (11) |
Risk Report - Credit Risk Expos
Risk Report - Credit Risk Exposure (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Credit Risk Exposure [Abstract] | |
Main Credit Exposure Categories by Industry Sectors [text block table] | Main Credit Exposure Categories by Industry Sectors The below tables give an overview of our credit exposure by industry based on the NACE code of the counterparty. NACE (Nomenclature des Activités Économiques dans la Communauté Européenne) is a standard European industry classification system and does not have to be congruent with an internal risk based view applied elsewhere in this report. Dec 31, 2021 Loans Off-balance sheet OTC derivatives in € m. at amortized 1 trading - Designated / at fair value 2 Revocable and 3 Contingent at fair value 4 Agriculture, forestry and fishing 645 2 0 0 593 36 3 Mining and quarrying 2,783 190 0 33 5,220 1,893 32 Manufacturing 35,404 348 26 1,042 51,706 11,612 5,034 Electricity, gas, steam and air conditioning supply 4,548 226 46 0 5,068 2,807 360 Water supply, sewerage, waste management and remediation activities 681 0 0 0 484 175 67 Construction 4,374 234 2 40 2,939 2,714 256 Wholesale and retail trade, repair of motor vehicles and motorcycles 21,285 196 34 930 16,368 7,135 298 Transport and storage 5,330 334 87 316 5,729 947 515 Accommodation and food service activities 2,259 5 0 8 1,308 136 7 Information and communication 6,363 286 80 658 13,837 2,896 924 Financial and insurance activities 106,343 3,219 578 1,099 65,114 24,361 13,369 Real estate activities 40,629 2,478 30 83 6,486 208 822 Professional, scientific and technical activities 6,959 63 0 0 5,245 2,147 85 Administrative and support service activities 9,759 472 71 22 5,114 816 496 Public administration and defense, compulsory social security 6,183 757 12 124 2,519 105 1,037 Education 225 0 0 0 132 56 255 Human health services and social work activities 3,869 111 25 0 1,646 141 157 Arts, entertainment and recreation 1,062 6 0 0 1,899 88 56 Other service activities 4,941 262 44 14 4,790 810 91 Activities of households as employers, undifferentiated goods- and services-producing activities of households for own use 213,184 0 0 1 30,934 311 253 Activities of extraterritorial organizations and bodies 1 0 0 0 0 2 31 Total 476,827 9,189 1,035 4,370 227,132 59,394 24,146 Dec 31, 2021 Debt Securities Repo and repo-style transactions 7 Total in € m. at amortized cost 5 at fair value at fair value 6 at amortized cost at fair value at fair value Agriculture, forestry and fishing 0 12 0 0 0 0 1,291 Mining and quarrying 4 371 2 0 0 0 10,529 Manufacturing 4 1,746 37 0 0 0 106,960 Electricity, gas, steam and air conditioning supply 15 601 1 0 0 0 13,669 Water supply, sewerage, waste management and remediation activities 0 22 0 0 0 0 1,429 Construction 60 456 10 0 0 0 11,086 Wholesale and retail trade, repair of motor vehicles and motorcycles 6 335 2 0 0 0 46,589 Transport and storage 306 888 1 0 0 0 14,452 Accommodation and food service activities 0 91 0 0 0 0 3,814 Information and communication 78 1,007 9 0 0 0 26,137 Financial and insurance activities 3,542 18,588 4,511 8,428 76,317 1,231 326,701 Real estate activities 381 2,405 129 0 0 0 53,650 Professional, scientific and technical activities 28 176 157 0 0 0 14,860 Administrative and support service activities 27 323 3 0 0 0 17,103 Public administration and defense, compulsory social security 10,185 63,108 18,216 0 1,957 0 104,203 Education 0 275 0 0 0 0 942 Human health services and social work activities 0 468 0 0 0 0 6,417 Arts, entertainment and recreation 0 131 0 0 0 0 3,241 Other service activities 174 2,693 14 5 12 0 13,849 Activities of households as employers, undifferentiated goods- and services-producing activities of households for own use 0 0 0 0 0 0 244,683 Activities of extraterritorial organizations and bodies 40 1,671 287 0 0 0 2,032 Total 14,849 95,367 23,377 8,433 78,286 1,231 1,023,637 1 Includes stage 3 and stage 3 POCI loans at amortized cost amounting to € 12.4 billion 2 Includes stage 3 and stage 3 POCI loans at fair value through OCI amounting to € 28.1 million 3 Includes stage 3 and stage 3 POCI off-balance sheet exposure amounting to € 2.6 billion 4 Includes the effect of netting agreements and cash collateral received where applicable. Excludes derivatives qualifying for hedge accounting. 5 Includes stage 3 and stage 3 POCI debt securities at amortized cost amounting to € 368.2 million 6 Includes stage 3 and stage 3 POCI debt securities at fair value through OCI amounting to € 15.8 million 7 Before reflection of collateral and limited to securities purchased under resale agreements and securities borrowed. Dec 31, 2020 Loans Off-balance sheet OTC derivatives in € m. at amortized cost 1 trading - Designated / at fair value 2 Revocable and 3 Contingent at fair value 4 Agriculture, forestry and fishing 637 0 0 0 544 40 3 Mining and quarrying 2,871 250 8 15 5,148 1,370 34 Manufacturing 26,050 525 354 1,111 52,722 10,314 4,677 Electricity, gas, steam and air conditioning supply 3,419 295 51 0 5,080 1,783 614 Water supply, sewerage, waste management and remediation activities 681 0 0 0 396 156 80 Construction 4,440 243 2 22 2,672 2,490 438 Wholesale and retail trade, repair of motor vehicles and motorcycles 20,697 330 83 913 15,672 5,025 614 Transport and storage 5,575 427 69 312 5,235 978 715 Accommodation and food service activities 2,427 60 0 27 1,203 158 27 Information and communication 5,525 308 3 404 14,030 2,072 887 Financial and insurance activities 84,724 2,860 1,823 813 56,024 19,467 18,042 Real estate activities 36,571 989 46 339 5,776 312 1,401 Professional, scientific and technical activities 7,707 228 0 12 4,919 1,915 147 Administrative and support service activities 9,112 333 66 56 4,266 453 672 Public administration and defense, compulsory social security 6,139 828 13 433 2,983 93 3,094 Education 205 0 0 0 126 14 459 Human health services and social work activities 3,436 68 26 0 2,373 127 484 Arts, entertainment and recreation 929 22 0 0 1,105 59 30 Other service activities 5,353 551 84 177 4,305 877 131 Activities of households as employers, undifferentiated goods- and services-producing activities of households for own use 205,004 22 0 2 31,298 272 325 Activities of extraterritorial organizations and bodies 1 0 0 0 0 2 54 Total 431,503 8,339 2,629 4,635 215,877 47,978 32,928 Dec 31, 2020 Debt Securities Repo and repo-style transactions 7 Total in € m. at amortized cost 5 at fair value at fair value 6 at amortized cost at fair value at fair value Agriculture, forestry and fishing 0 6 0 0 0 0 1,230 Mining and quarrying 0 354 2 0 0 0 10,053 Manufacturing 0 995 39 0 0 0 96,788 Electricity, gas, steam and air conditioning supply 0 437 1 0 0 0 11,679 Water supply, sewerage, waste management and remediation activities 0 40 0 0 0 0 1,354 Construction 0 565 70 0 0 0 10,944 Wholesale and retail trade, repair of motor vehicles and motorcycles 0 213 2 0 0 0 43,548 Transport and storage 203 811 26 0 0 0 14,351 Accommodation and food service activities 0 63 0 0 0 0 3,964 Information and communication 8 514 5 0 0 0 23,756 Financial and insurance activities 3,167 20,866 8,114 8,428 61,801 1,543 287,672 Real estate activities 333 3,047 109 0 0 0 48,924 Professional, scientific and technical activities 25 105 25 8 0 0 15,091 Administrative and support service activities 36 270 3 99 0 0 15,367 Public administration and defense, compulsory social security 8,670 61,459 40,574 0 1,089 0 125,374 Education 0 120 21 0 0 0 945 Human health services and social work activities 0 473 0 0 0 0 6,987 Arts, entertainment and recreation 31 83 0 0 0 0 2,258 Other service activities 110 3,654 162 0 176 0 15,580 Activities of households as employers, undifferentiated goods- and services-producing activities of households for own use 0 0 0 0 0 0 236,923 Activities of extraterritorial organizations and bodies 40 1,272 503 0 0 0 1,873 Total 12,625 95,347 49,656 8,535 63,066 1,543 974,661 1 Includes stage 3 and stage 3 POCI loans at amortized cost amounting to € 11.9 billion 2 Includes stage 3 and stage 3 POCI loans at fair value through OCI amounting to € 90.3 million 3 Includes stage 3 and stage 3 POCI off-balance sheet exposure amounting to € 2.6 billion 4 Includes the effect of netting agreements and cash collateral received where applicable. Excludes derivatives qualifying for hedge accounting. 5 Includes stage 3 and stage 3 POCI debt securities at amortized cost amounting to € 360.4 million 6 Includes stage 3 and stage 3 POCI debt securities at fair value through OCI amounting to € 15.1 million 7 Before reflection of collateral and limited to securities purchased under resale agreements and securities borrowed. |
Main credit exposure categories by geographical region [text block table] | Main credit exposure categories by geographical region Dec 31, 2021 Loans Off-balance sheet OTC derivatives in € m. at amortized cost 1 trading - Designated / at fair value 2 Revocable 3 Contingent at fair value 4 Europe 342,179 3,411 702 1,365 129,396 35,814 13,525 Of which: Germany 236,139 407 20 173 73,087 14,388 1,535 United Kingdom 6,331 529 243 297 8,851 2,796 4,480 France 3,581 59 2 55 6,840 2,179 925 Luxembourg 14,195 517 82 53 7,393 713 646 Italy 24,316 227 9 0 3,484 4,510 398 Netherlands 9,383 137 102 384 8,391 2,237 1,226 Spain 16,283 246 0 43 3,215 3,464 668 Ireland 4,652 262 234 72 2,687 210 549 Switzerland 13,083 34 0 110 6,156 2,710 145 Poland 2,293 0 0 16 401 116 14 Belgium 1,426 5 0 76 1,724 578 212 Russian Federation⁸ 806 54 0 51 629 209 27 Ukraine⁸ 109 441 9 0 0 3 22 0 Other Europe⁸ , 9,583 492 10 37 6,535 1,683 2,700 North America 87,628 3,904 132 2,060 87,172 9,411 7,853 Of which: U.S. 73,007 3,156 91 1,836 82,800 8,685 6,839 Cayman Islands 5,709 157 3 0 1,555 80 396 Canada 935 291 0 200 1,977 419 218 Other North America 7,976 301 37 24 839 227 401 Asia/Pacific 40,093 944 185 874 9,151 12,786 2,605 Of which: Japan 1,921 62 108 48 608 519 656 Australia 2,112 264 25 0 2,248 532 257 India 7,948 4 6 18 920 3,440 95 China 5,606 9 0 42 480 1,913 554 Singapore 5,750 127 23 135 1,157 1,566 157 Hong Kong 3,146 89 0 51 1,258 752 181 Other Asia/Pacific 13,610 390 23 581 2,480 4,064 706 Other geographical areas 6,926 931 16 71 1,414 1,383 163 Total 476,827 9,189 1,035 4,370 227,132 59,394 24,146 Dec 31, 2021 Debt Securities Repo and repo-style transactions 7 Total in € m. at amortized cost 5 at fair value at fair value 6 at amortized cost at fair value at fair value Europe 3,464 45,063 7,578 2,745 32,525 484 618,251 Of which: Germany 548 7,152 932 274 3,301 32 337,987 United Kingdom 951 8,604 1,151 571 8,824 0 43,628 France 0 6,482 1,411 5 12,910 0 34,448 Luxembourg 57 2,471 497 0 971 0 27,594 Italy 314 3,655 315 85 729 0 38,042 Netherlands 212 2,157 51 29 38 0 24,347 Spain 74 7,193 199 1,126 500 0 33,012 Ireland 1,143 1,264 3 2 3,158 0 14,237 Switzerland 3 583 4 0 140 0 22,968 Poland 0 73 1,870 0 76 0 4,859 Belgium 33 1,932 805 0 7 0 6,798 Russian Federation⁸ 0 14 36 0 0 0 1,826 Ukraine⁸ 0 2 29 0 0 0 606 Other Europe⁸ , 130 3,481 274 653 1,870 452 27,900 North America 8,618 26,899 10,363 2,551 38,688 0 285,278 Of which: U.S. 8,600 25,959 10,059 517 26,173 0 247,722 Cayman Islands 0 238 0 2,034 11,679 0 21,851 Canada 0 476 235 0 834 0 5,586 Other North America 18 225 69 0 3 0 10,119 Asia/Pacific 2,718 21,369 5,053 2,868 7,000 508 106,154 Of which: Japan 25 2,951 556 0 3,672 0 11,127 Australia 1,597 1,726 510 0 515 0 9,787 India 617 5,067 944 0 253 360 19,670 China 16 1,576 560 0 594 0 11,349 Singapore 9 860 246 0 107 0 10,136 Hong Kong 213 742 246 0 184 0 6,861 Other Asia/Pacific 242 8,447 1,990 2,868 1,675 147 37,224 Other geographical areas 49 2,037 384 268 72 240 13,954 Total 14,849 95,367 23,377 8,433 78,286 1,231 1,023,637 1 Includes stage 3 and stage 3 POCI loans at amortized cost amounting to € 12.4 billion 2 Includes stage 3 and stage 3 POCI loans at fair value through OCI amounting to € 28.1 million 3 Includes stage 3 and stage 3 POCI off-balance sheet exposure amounting to € 2.6 billion 4 Includes the effect of netting agreements and cash collateral received where applicable. Excludes derivatives qualifying for hedge accounting. 5 Includes stage 3 and stage 3 POCI debt securities at amortized cost amounting to € 368.2 million 6 Includes stage 3 and stage 3 POCI debt securities at fair value through OCI amounting to € 15.8 million 7 Before reflection of collateral and limited to securities purchased under resale agreements and securities borrowed. 8 9 10 € 2 million Dec 31, 2020 Loans Off-balance sheet OTC derivatives in € m. at amortized cost 1 trading - Designated / at fair value 2 Revocable 3 Contingent at fair value 4 Europe 317,281 3,092 1,519 1,615 128,440 29,529 20,283 Of which: Germany 224,274 340 57 347 75,531 12,195 1,715 United Kingdom 5,796 160 341 64 9,820 2,327 7,102 France 3,460 65 33 187 6,103 1,383 1,331 Luxembourg 10,097 546 252 0 4,839 1,251 701 Italy 23,442 340 66 0 3,600 3,888 1,854 Netherlands 9,679 79 222 554 9,890 1,727 1,942 Spain 17,134 304 0 28 3,755 2,763 1,094 Ireland 4,173 190 200 127 2,023 200 465 Switzerland 6,817 39 19 150 4,518 1,762 268 Poland 2,421 0 1 0 374 128 17 Belgium 1,133 4 0 53 1,566 679 295 Russian Federation⁸ 665 74 0 57 382 239 17 Ukraine⁸ 280 425 0 0 17 11 0 Other Europe⁸ 7,910 527 327 46 6,021 976 3,480 North America 73,742 3,266 841 1,896 78,079 7,430 9,420 Of which: U.S. 61,137 2,926 784 1,792 73,215 7,033 8,496 Cayman Islands 3,790 113 3 0 2,131 25 246 Canada 887 37 0 91 1,790 47 303 Other North America 7,928 191 54 13 943 326 374 Asia/Pacific 34,194 1,248 237 992 7,813 9,960 2,766 Of which: Japan 1,385 17 0 89 415 483 312 Australia 1,525 258 36 35 1,785 367 542 India 6,355 54 21 32 1,110 2,253 149 China 4,764 6 149 46 684 1,780 658 Singapore 5,309 210 30 28 918 685 248 Hong Kong 2,872 109 0 61 986 671 186 Other Asia/Pacific 11,984 593 0 702 1,914 3,721 670 Other geographical areas 6,286 734 31 133 1,545 1,059 460 Total 431,503 8,339 2,629 4,635 215,877 47,978 32,928 Dec 31, 2020 Debt Securities Repo and repo-style transactions 7 Total in € m. at amortized cost 5 at fair value at fair value 6 at amortized cost at fair value at fair value Europe 2,468 46,446 31,902 2,180 21,696 498 606,947 Of which: Germany 544 8,252 10,467 263 1,078 10 335,074 United Kingdom 890 7,980 2,776 0 11,352 0 48,607 France 2 8,136 5,216 0 5,981 0 31,898 Luxembourg 41 2,509 1,412 0 819 0 22,466 Italy 117 5,908 1,496 108 478 0 41,297 Netherlands 112 3,486 118 0 33 0 27,843 Spain 0 3,053 3,088 1,077 500 0 32,796 Ireland 680 1,415 136 0 396 0 10,004 Switzerland 4 637 4 0 79 0 14,299 Poland 0 112 1,993 0 0 0 5,047 Belgium 40 1,575 1,616 0 5 0 6,966 Russian Federation⁸ 0 42 34 0 0 0 1,510 Ukraine⁸ 0 8 17 0 0 0 758 Other Europe⁸ 38 3,334 3,529 731 975 488 28,381 North America 7,727 27,547 11,798 2,780 31,907 0 256,433 Of which: U.S. 7,351 26,408 11,197 1,814 29,370 0 231,523 Cayman Islands 359 567 0 885 2,086 0 10,206 Canada 0 417 543 0 451 0 4,567 Other North America 16 155 58 81 0 0 10,137 Asia/Pacific 2,431 19,246 5,740 3,353 9,426 646 98,052 Of which: Japan 64 2,807 25 0 6,283 0 11,881 Australia 1,545 2,535 860 0 659 0 10,149 India 349 3,284 2,047 0 128 396 16,177 China 0 3,012 309 0 421 0 11,830 Singapore 78 2,067 472 0 105 0 10,152 Hong Kong 207 725 286 60 12 0 6,175 Other Asia/Pacific 188 4,816 1,740 3,293 1,817 250 31,689 Other geographical areas 0 2,107 216 223 37 399 13,229 Total 12,625 95,347 49,656 8,535 63,066 1,543 974,661 1 Includes stage 3 and stage 3 POCI loans at amortized cost amounting to € 11.9 billion 2 Includes stage 3 and stage 3 POCI loans at fair value through OCI amounting to € 90.3 million 3 Includes stage 3 and stage 3 POCI off-balance sheet exposure amounting to € 2.6 billion 4 5 Includes stage 3 and stage 3 POCI debt securities at amortized cost amounting to € 360.4 million 6 Includes stage 3 and stage 3 POCI debt securities at fair value through OCI amounting to € 15.1 million 7 8 |
Maximum Exposure to Credit Risk [text block table] | Maximum Exposure to Credit Risk Dec 31, 2021 Credit Enhancements in € m. Maximum 1 Subject to Netting Collateral Guarantees 2 Total credit Financial assets at amortized cost 3 Cash and central bank balances 192,025 192,025 − 0 − 0 Interbank balances (w/o central banks) 7,345 7,345 − 0 0 0 Central bank funds sold and securities purchased under resale agreements 8,370 8,370 − 8,070 − 8,070 Securities borrowed 63 63 − 63 − 63 Loans 476,827 476,827 − 247,109 33,353 280,462 Other assets subject to credit risk 4,5 83,313 79,361 30,639 709 206 31,555 Total financial assets at amortized cost 3 767,942 763,990 30,639 255,951 33,559 320,149 Financial assets at fair value through profit or loss 6 Trading assets 97,080 − − 2,217 1,091 3,308 Positive market values from derivative financial instruments 299,732 − 238,412 41,692 37 280,140 Non-trading financial assets mandatory at fair value through profit or loss 87,873 − 2,176 75,960 187 78,324 Of which: Securities purchased under resale agreement 59,931 − 2,176 57,755 0 59,931 Securities borrowed 18,355 − − 17,978 0 17,978 Loans 895 − − 190 187 378 Financial assets designated at fair value through profit or loss 140 − − 0 82 82 Total financial assets at fair value through profit or loss 484,825 − 240,588 119,869 1,398 361,854 Financial assets at fair value through OCI 28,979 28,979 0 1,480 891 2,371 Of which: Securities purchased under resale agreement 1,231 1,231 − 0 0 0 Securities borrowed 0 0 − 0 0 0 Loans 4,370 4,370 − 1,480 891 2,371 Total financial assets at fair value through OCI 28,979 28,979 − 1,480 891 2,371 Financial guarantees and other credit related contingent liabilities 7 59,394 59,394 − 3,077 6,857 9,934 Revocable and irrevocable lending commitments and other credit related commitments 7 227,132 226,454 − 18,545 5,888 24,433 Total off-balance sheet 286,525 285,848 − 21,622 12,746 34,368 Maximum exposure to credit risk 1,568,272 1,078,817 271,227 398,922 48,593 718,742 1 Does not include credit derivative notional sold ( € 491,407 million 2 Bought Credit protection is reflected with the notional of the underlying 3 All amounts at gross value before deductions of allowance for credit losses. 4 All amounts at amortized cost (gross) except for qualifying hedge derivatives, which are reflected at Fair value through P&L 5 Includes Asset Held for Sale regardless of accounting classification. 6 Excludes equities, other equity interests and commodities. 7 Figures are reflected at notional amounts. Dec 31, 2020 Credit Enhancements in € m. Maximum 1 Subject to Netting Collateral Guarantees 2 Total credit Financial assets at amortized cost 3 Cash and central bank balances 166,211 166,211 − 0 − 0 Interbank balances (w/o central banks) 9,132 9,132 − 0 0 0 Central bank funds sold and securities purchased under resale agreements 8,535 8,535 − 8,173 − 8,173 Securities borrowed 0 0 − 0 − 0 Loans 431,503 431,503 − 228,513 30,119 258,632 Other assets subject to credit risk 4,5 96,355 85,106 43,277 902 55 44,234 Total financial assets at amortized cost 3 711,736 700,487 43,277 237,588 30,174 311,039 Financial assets at fair value through profit or loss 6 Trading assets 94,757 − − 2,998 1,248 4,246 Positive market values from derivative financial instruments 343,493 − 262,525 52,329 83 314,937 Non-trading financial assets mandatory at fair value through profit or loss 75,116 − 993 62,036 244 63,273 Of which: Securities purchased under resale agreement 46,057 − 993 44,967 0 45,960 Securities borrowed 17,009 − − 16,730 0 16,730 Loans 2,192 − − 272 244 516 Financial assets designated at fair value through profit or loss 437 − − 0 0 0 Total financial assets at fair value through profit or loss 513,803 − 263,518 117,363 1,575 382,456 Financial assets at fair value through OCI 55,834 55,834 0 1,581 1,153 2,734 Of which: Securities purchased under resale agreement 1,543 1,543 − 0 0 0 Securities borrowed 0 0 − 0 0 0 Loans 4,635 4,635 − 1,581 1,153 2,734 Total financial assets at fair value through OCI 55,834 55,834 − 1,581 1,153 2,734 Financial guarantees and other credit related contingent liabilities 7 47,978 47,978 − 2,327 6,157 8,484 Revocable and irrevocable lending commitments and other credit related commitments 7 215,877 214,898 − 15,345 5,779 21,124 Total off-balance sheet 263,855 262,876 − 17,672 11,936 29,608 Maximum exposure to credit risk 1,545,228 1,019,197 306,795 374,204 44,838 725,837 1 Does not include credit derivative notional sold ( € 395,636 million 2 Bought Credit protection is reflected with the notional of the underlying. 3 All amounts at gross value before deductions of allowance for credit losses. 4 All amounts at amortized cost (gross) except for qualifying hedge derivatives, which are reflected at Fair value through P&L. 5 Includes Asset Held for Sale regardless of accounting classification. 6 Excludes equities, other equity interests and commodities. 7 Figures are reflected at notional amounts. |
Risk Report - Asset Quality (Ta
Risk Report - Asset Quality (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Asset Quality [Abstract] | |
Overview of financial assets subject to impairment [text block table] | Overview of financial assets subject to impairment Dec 31, 2021 Dec 31, 2020 in € m. Stage 1 Stage 2 Stage 3 Stage 3 Total Stage 1 Stage 2 Stage 3 Stage 3 Total Amortized cost¹ Gross carrying amount 711,021 40,653 11,326 1,297 764,298 651,637 35,372 10,655 1,729 699,393 Allowance for credit losses² 440 532 3,740 182 4,895 544 648 3,614 139 4,946 of which Loans Gross carrying amount 425,342 38,809 10,653 1,272 476,077 385,117 34,537 10,138 1,710 431,501 Allowance for credit losses² 421 530 3,627 177 4,754 522 647 3,506 133 4,808 Fair value through OCI Fair value 28,609 326 44 0 28,979 55,566 163 105 0 55,834 Allowance for credit losses 15 10 16 0 41 12 6 2 0 20 Off-balance sheet Notional amount 268,857 14,498 2,582 11 285,948 251,545 8,723 2,587 1 262,856 Allowance for credit losses³ 108 111 225 0 443 144 74 200 0 419 1 Financial Assets at Amortized Cost consist of: Loans at Amortized Cost, Cash and central bank balances, Interbank balances (w/o central banks), Central bank funds sold and securities purchased under resale agreements, Securities borrowed and certain subcategories of Other assets 2 Allowance for credit losses do not include allowance for country risk amounting to € 4 million € 5 million 3 Allowance for credit losses do not include allowance for country risk amounting to € 6 million € 4 million |
Financial Assets at amortized cost - Development of exposures in the reporting period [text block table] | Development of exposures in the current reporting period Dec 31, 2021 Gross carrying amount in € m. Stage 1 Stage 2 Stage 3 Stage 3 POCI Total Balance, beginning of year 651,637 35,372 10,655 1,729 699,393 Movements in financial assets including new business and credit extensions 79,619 7,507 305 (101) 87,330 Transfers due to changes in creditworthiness (155) (1,109) 1,264 0 0 Changes due to modifications that did not result in (1) (0) (16) 0 (17) Changes in models Financial assets that have been derecognized during the period (34,157) (1,891) (1,271) (372) (37,691) Recovery of written off amounts 0 0 55 23 78 Foreign exchange and other changes 14,078 774 333 19 15,204 Balance, end of reporting period 711,021 40,653 11,326 1,297 764,298 Development of exposures in the previous reporting period Dec 31, 2020 Gross carrying amount in € m. Stage 1 Stage 2 Stage 3 Stage 3 POCI Total Balance, beginning of year 645,967 24,680 7,531 2,150 680,328 Movements in financial assets including new business and credit extensions 79,284 8,215 3,304 (166) 90,637 Transfers due to changes in creditworthiness (7,462) 5,543 1,919 0 0 Changes due to modifications that did not result in (0) (3) (31) 0 (34) Changes in models 0 0 0 0 0 Financial assets that have been derecognized during the period (48,990) (2,268) (1,910) (263) (53,430) Recovery of written off amounts 0 0 58 0 58 Foreign exchange and other changes (17,162) (795) (216) 7 (18,165) Balance, end of reporting period 651,637 35,372 10,655 1,729 699,393 |
Financial Assets at amortized cost - Development of allowance for credit losses in the reporting period [text block table] | Development of allowance for credit losses in the current reporting period Dec 31, 2021 Allowance for Credit Losses ³ in € m. Stage 1 Stage 2 Stage 3 Stage 3 POCI⁴ Total Balance, beginning of year 544 648 3,614 139 4,946 Movements in financial assets including new business and credit extensions (245) 85 615 26 480 Transfers due to changes in creditworthiness 138 (197) 58 N/M 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 (561) (5) (566) Recovery of written off amounts 0 0 55 23 78 Foreign exchange and other changes 3 (4) (41) (0) (43) Balance, end of reporting period 440 532 3,740 182 4,895 Provision for Credit Losses excluding country risk ¹ (107) (112) 673 26 480 1 Movements in financial assets including new business, transfers due to changes in creditworthiness and changes in models add up to Provision for Credit Losses excluding country risk. 2 This position includes charge offs of allowance for credit losses. 3 Allowance for credit losses does not include allowance for country risk amounting to € 4 million 4 The total amount of undiscounted expected credit losses at initial recognition on financial assets that are purchased or originated credit-impaired initially recognized during the reporting period was € 0 million € 50 million Dec 31, 2020 Allowance for Credit Losses³ in € m. Stage 1 Stage 2 Stage 3 Stage 3 POCI⁴ Total Balance, beginning of year 549 492 3,015 36 4,093 Movements in financial assets including new business and credit extensions (44) 309 1,348 72 1,686 Transfers due to changes in creditworthiness 77 (125) 49 N/M 0 Changes due to modifications that did not result in N/M N/M N/M N/M N/M Changes in models 0 0 0 0 0 Financial assets that have been derecognized during the period² 0 0 (781) 0 (781) Recovery of written off amounts 0 0 58 0 58 Foreign exchange and other changes (38) (28) (75) 31 (110) Balance, end of reporting period 544 648 3,614 139 4,946 Provision for Credit Losses excluding country risk¹ 33 184 1,397 72 1,686 1 Movements in financial assets including new business, transfers due to changes in creditworthiness and changes in models add up to Provision for Credit Losses excluding country risk. 2 This position includes charge offs of allowance for credit losses. 3 Allowance for credit losses does not include allowance for country risk amounting to € 5 million 4 The total amount of undiscounted expected credit losses at initial recognition on financial assets that are purchased or originated credit-impaired initially recognized during the reporting period was € 50 million € 0 million |
Financial Assets at amortized cost by business division [text block table] | Financial assets at amortized cost by business division Dec 31, 2021 Gross Carrying Amount¹ Allowance for Credit Losses in € m. Stage 1 Stage 2 Stage 3 Stage 3 Total Stage 1 Stage 2 Stage 3 Stage 3 Total Corporate Bank 116,332 10,165 2,113 0 128,611 56 83 901 0 1,040 Investment Bank 147,177 9,783 2,487 1,264 160,711 106 78 356 182 723 Private Bank 235,067 19,526 6,496 33 261,122 269 365 2,383 0 3,018 Asset Management 2,218 58 0 0 2,276 1 1 0 0 2 Capital Release Unit 2,743 210 212 0 3,165 2 1 99 0 103 Corporate & Other 207,485 910 18 0 208,413 6 3 1 0 10 Total 711,021 40,653 11,326 1,297 764,298 440 532 3,740 182 4,895 1 Gross Carrying Amount numbers per business division are reported after a reallocation of cash balances from business divisions to Corporate & Other. Dec 31, 2020 Gross Carrying Amount Allowance for Credit Losses in € m. Stage 1 Stage 2 Stage 3 Stage 3 Total Stage 1 Stage 2 Stage 3 Stage 3 Total Corporate Bank 109,484 7,747 2,305 0 119,537 85 106 1,052 0 1,244 Investment Bank 134,634 5,832 2,023 1,459 143,948 139 92 290 139 659 Private Bank 216,412 21,328 5,954 270 243,964 311 446 2,098 0 2,855 Asset Management 2,131 57 0 0 2,188 1 1 0 0 1 Capital Release Unit 4,463 303 372 0 5,138 4 4 174 0 182 Corporate & Other 184,512 105 1 0 184,618 5 (0) 0 0 5 Total 651,637 35,372 10,655 1,729 699,393 544 648 3,614 139 4,946 |
Financial Assets at amortized cost by industry sector [text block table] | Financial assets at amortized cost by industry sector The below table gives an overview of our asset quality by industry and is based on the NACE code of the counterparty. NACE (Nomenclature des Activités Économiques dans la Communauté Européenne) is a standard European industry classification system. The information below is not fully congruent to the internal risk view applied in the section “Focus industries in light of COVID-19 pandemic”. Dec 31, 2021 Gross Carrying Amount Allowance for Credit Losses in € m. Stage 1 Stage 2 Stage 3 Stage 3 Total Stage 1 Stage 2 Stage 3 Stage 3 Total Agriculture, forestry and fishing 544 73 29 0 646 1 1 11 0 12 Mining and quarrying 2,771 95 63 0 2,929 3 0 13 0 17 Manufacturing 31,776 3,466 957 97 36,296 24 36 481 3 543 Electricity, gas, steam and air conditioning supply 4,414 174 117 0 4,705 2 2 41 0 45 Water supply, sewerage, waste management and remediation activities 580 51 50 0 680 1 2 8 0 11 Construction 3,672 375 271 128 4,446 8 5 178 (1) 190 Wholesale and retail trade, repair of motor vehicles and motorcycles 19,582 1,355 747 32 21,717 18 19 397 3 436 Transport and storage 4,513 862 378 29 5,782 12 12 72 (0) 96 Accommodation and food service activities 1,356 769 122 18 2,265 1 9 62 (2) 70 Information and communication 6,431 257 157 16 6,860 10 4 98 0 112 Financial and insurance activities 359,874 6,711 1,756 491 368,832 94 48 322 54 519 Real estate activities 34,827 5,339 1,115 271 41,551 16 22 97 55 190 Professional, scientific and technical activities 6,017 751 225 34 7,027 6 9 107 0 122 Administrative and support service activities 9,477 1,767 467 24 11,736 11 21 132 4 167 Public administration and defense, compulsory social security 18,174 2,073 49 0 20,295 5 11 5 0 21 Education 190 34 5 0 228 0 1 2 0 3 Human health services and social work activities 3,620 331 105 0 4,056 4 6 18 0 28 Arts, entertainment and recreation 690 371 11 1 1,073 2 3 3 1 8 Other service activities 8,564 920 225 140 9,850 6 12 39 49 107 Activities of households as employers, undifferentiated goods- and services-producing activities of households for own use 193,909 14,880 4,477 16 213,282 218 309 1,653 16 2,196 Activities of extraterritorial organizations and bodies 40 0 1 0 41 0 0 1 0 1 Total 711,021 40,653 11,326 1,297 764,298 440 532 3,740 182 4,895 Dec 31, 2020 Gross Carrying Amount Allowance for Credit Losses in € m. Stage 1 Stage 2 Stage 3 Stage 3 Total Stage 1 Stage 2 Stage 3 Stage 3 Total Agriculture, forestry and fishing 538 69 39 0 646 1 1 12 0 14 Mining and quarrying 2,808 115 162 0 3,085 4 4 98 0 106 Manufacturing 23,245 2,518 1,024 138 26,925 32 42 479 3 557 Electricity, gas, steam and air conditioning supply 3,268 276 117 0 3,661 3 2 35 0 40 Water supply, sewerage, waste management and remediation activities 573 52 57 0 681 1 2 9 0 12 Construction 3,706 304 271 169 4,450 6 7 193 6 212 Wholesale and retail trade, repair of motor vehicles and motorcycles 19,049 1,066 830 46 20,991 21 20 516 2 558 Transport and storage 4,760 710 387 12 5,869 20 18 93 0 131 Accommodation and food service activities 1,871 445 90 24 2,429 5 8 22 0 35 Information and communication 5,482 207 131 0 5,820 12 4 95 0 111 Financial and insurance activities 316,950 6,336 1,159 551 324,996 88 64 285 37 474 Real estate activities 38,993 2,089 824 293 42,200 32 22 94 42 190 Professional, scientific and technical activities 6,295 1,049 223 198 7,765 8 15 97 5 125 Administrative and support service activities 8,966 1,365 409 47 10,787 14 22 88 1 125 Public administration and defense, compulsory social security 16,648 593 229 0 17,469 8 5 11 0 24 Education 179 23 3 0 205 0 1 1 0 2 Human health services and social work activities 3,104 347 15 1 3,468 4 6 7 0 17 Arts, entertainment and recreation 874 78 9 1 961 3 1 3 0 8 Other service activities 10,548 823 180 215 11,766 13 12 21 40 86 Activities of households as employers, undifferentiated goods- and services- producing activities of households for own use 183,728 16,906 4,496 34 205,164 270 393 1,453 2 2,120 Activities of extraterritorial organizations and bodies 52 0 1 0 53 0 0 1 0 1 Total 651,637 35,372 10,655 1,729 699,393 544 648 3,614 139 4,946 |
Financial Assets at amortized cost by region [text block table] | Financial assets at amortized cost by region Dec 31, 2021 Gross Carrying Amount Allowance for Credit Losses in € m. Stage 1 Stage 2 Stage 3 Stage 3 Total Stage 1 Stage 2 Stage 3 Stage 3 Total Germany 317,217 17,941 3,581 33 338,773 191 298 1,653 14 2,156 Western Europe 134,187 9,224 3,652 937 148,000 134 156 1,610 150 2,050 Eastern Europe 6,818 494 99 0 7,412 2 4 53 0 59 North America 174,574 8,853 2,131 145 185,703 53 55 180 16 304 Central and South America 3,908 206 197 7 4,318 3 0 13 2 18 Asia/Pacific 58,984 2,351 1,518 137 62,990 45 8 227 2 282 Africa 2,081 1,319 39 0 3,439 3 11 1 0 16 Other 13,252 263 110 38 13,664 10 0 2 (2) 11 Total 711,021 40,653 11,326 1,297 764,298 440 532 3,740 182 4,895 Dec 31, 2020 Gross Carrying Amount Allowance for Credit Losses in € m. Stage 1 Stage 2 Stage 3 Stage 3 Total Stage 1 Stage 2 Stage 3 Stage 3 Total Germany 293,760 17,709 3,840 270 315,580 252 356 1,438 52 2,098 Western Europe 130,592 7,639 3,188 1,103 142,522 152 215 1,603 77 2,048 Eastern Europe 5,175 214 90 0 5,480 7 2 42 0 51 North America 144,876 6,303 2,079 105 153,362 77 57 225 7 366 Central and South America 3,731 146 374 7 4,258 4 4 32 0 40 Asia/Pacific 57,197 2,691 973 219 61,081 31 13 273 2 318 Africa 2,617 218 11 0 2,845 5 1 1 0 7 Other 13,689 453 99 24 14,265 15 1 0 (0) 16 Total 651,637 35,372 10,655 1,729 699,393 544 648 3,614 139 4,946 |
Financial Assets at amortized cost by rating class [text block table] | Financial assets at amortized cost by rating class Dec 31, 2021 Gross Carrying Amount Allowance for Credit Losses in € m. Stage 1 Stage 2 Stage 3 Stage 3 Total Stage 1 Stage 2 Stage 3 Stage 3 Total iAAA–iAA 257,805 471 0 0 258,276 2 0 0 0 2 iA 99,418 1,325 0 9 100,753 6 1 0 0 7 iBBB 163,434 3,938 0 0 167,371 39 12 0 0 51 iBB 152,040 11,898 0 0 163,938 150 71 0 0 221 iB 33,572 17,942 0 16 51,530 205 253 0 6 463 iCCC and below 4,752 5,079 11,326 1,272 22,430 39 195 3,740 177 4,151 Total 711,021 40,653 11,326 1,297 764,298 440 532 3,740 182 4,895 Dec 31, 2020 Gross Carrying Amount Allowance for Credit Losses in € m. Stage 1 Stage 2 Stage 3 Stage 3 Total Stage 1 Stage 2 Stage 3 Stage 3 Total iAAA–iAA 225,226 538 0 0 225,764 1 0 0 0 1 iA 88,250 734 0 0 88,983 5 0 0 0 5 iBBB 150,519 2,662 0 0 153,181 43 9 0 0 52 iBB 146,701 11,891 0 0 158,592 202 76 0 0 279 iB 36,167 13,674 0 0 49,841 240 251 0 0 492 iCCC and below 4,774 5,874 10,655 1,729 23,032 54 310 3,614 139 4,117 Total 651,637 35,372 10,655 1,729 699,393 544 648 3,614 139 4,946 |
Collateral held against Financial Assets at amortized in stage 3 [text block table] | Collateral held against financial assets at amortized cost in stage 3 Dec 31, 2021 Dec 31, 2020 in € m. Gross Carrying Collateral Guarantees Gross Carrying Collateral Guarantees Financial Assets at Amortized Cost (Stage 3) 11,326 4,140 496 10,655 3,753 558 1 Stage 3 consists here only of non-POCI assets. |
Modified assets at amortized cost [text block table] | Modified Assets at Amortized Cost Dec 31, 2021 Dec 31, 2020 in € m. Stage 1 Stage 2 Stage 3 Stage 3 Total Stage 1 Stage 2 Stage 3 Stage 3 Total Amortized cost carrying amount prior to modification 0 22 17 0 40 0 81 73 0 153 Net modification gain/losses recognized (1) 0 (16) 0 (16) 0 2 (30) 0 (29) |
Off-balance sheet development of nominal [text block table] | Development of nominal amount in the current reporting period Dec 31, 2021 Nominal Amount in € m. Stage 1 Stage 2 Stage 3 Stage 3 POCI Total Balance, beginning of year 251,545 8,723 2,587 1 262,856 Movements including new business 11,197 3,236 (273) 10 14,170 Transfers due to changes in creditworthiness (2,177) 2,019 158 0 0 Changes in models 0 0 0 0 0 Foreign exchange and other changes 8,292 521 110 0 8,923 Balance, end of reporting period 268,857 14,498 2,582 11 285,948 of which: Financial guarantees 55,477 2,975 1,036 0 59,488 Development of nominal amount in the previous reporting period Dec 31, 2020 Nominal Amount in € m. Stage 1 Stage 2 Stage 3 Stage 3 POCI Total Balance, beginning of year 251,930 5,864 1,424 0 259,218 Movements including new business 16,918 (2,786) 126 1 14,259 Transfers due to changes in creditworthiness (7,247) 6,101 1,146 0 0 Changes in models 0 0 0 0 0 Foreign exchange and other changes (10,056) (455) (110) 0 (10,622) Balance, end of reporting period 251,545 8,723 2,587 1 262,856 of which: Financial guarantees 45,064 1,887 1,031 0 47,982 Development of allowance for credit losses in the current reporting period |
Off-balance sheet development of allowance for credit losses [text block table] | Dec 31, 2021 Allowance for Credit Losses 2 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 (43) 38 18 0 13 Transfers due to changes in creditworthiness 3 (5) 2 0 0 Changes in models 0 0 0 0 0 Foreign exchange and other changes 3 3 6 0 12 Balance, end of reporting period 108 111 225 0 443 of which: Financial guarantees 69 64 164 0 297 Provision for Credit Losses excluding country risk 1 (40) 33 19 0 13 1 The above table breaks down the impact on provision for credit losses from movements in financial assets including new business, transfers due to changes in creditworthiness and changes in models 2 Allowance for credit losses does not include allowance for country risk amounting to € 6 million Development of allowance for credit losses in the previous reporting period Dec 31, 2020 Allowance for Credit Losses 2 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 13 21 41 0 75 Transfers due to changes in creditworthiness 0 0 (1) 0 0 Changes in models 0 0 0 0 0 Foreign exchange and other changes 3 4 (6) 0 1 Balance, end of reporting period 144 74 200 0 419 of which: Financial guarantees 99 43 115 0 257 Provision for Credit Losses excluding country risk 1 13 22 40 0 75 1 The above table breaks down the impact on provision for credit losses from movements in financial assets including new business, transfers due to changes in creditworthiness and changes in models. 2 Allowance for credit losses does not include allowance for country risk amounting to € 4 million . |
Collateral obtained during the reporting periods IFRS 9 [text block table] | Collateral Obtained during the reporting period in € m. 2021 2020² Commercial real estate 0 15 Residential real estate 1 2 43 Other 0 3 Total collateral obtained during the reporting period 2 60 1 Carrying amount of foreclosed residential real estate properties amounted to € 67 million € 89 million 2 Numbers have been restated compared to prior year disclosure |
Risk Report - Market Risk (Tabl
Risk Report - Market Risk (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Market Risk [Abstract] | |
Trading Market Risk - Value-at Risk of Trading Units by Risk Type [text block table] | Value-at-Risk of our Trading Units by Risk Type¹ Total Diversification Interest rate Credit spread Equity price Foreign exchange Commodity price in € m. 2021 2020 2021 2020 2021 2020 2021 2020 2021 2020 2021 2020 2021 2020 Average 37.5 58.9 (37.2) (44.0) 23.1 17.9 27.9 53.6 13.0 15.5 9.5 13.3 1.1 2.7 Maximum 69.0 133.3 (21.0) (10.2) 38.5 36.3 60.3 117.1 20.1 30.8 25.2 32.3 7.9 8.8 Minimum 27.7 25.6 (76.9) (84.4) 11.3 8.1 17.5 17.9 6.8 5.3 4.4 4.5 0.3 0.4 Period-end 31.1 48.1 (27.0) (72.2) 16.6 27.1 24.1 55.4 8.3 13.5 8.1 22.5 1.0 1.8 1 Figures for 2021 as of December 31, 2021. Figures for 2020 as of December 31, 2020. 2 |
Trading Market Risk - Average, Maximum and Minimum Incremental Risk Charge of Trading Units (with a 99.9 percent confidence level and one-year capital horizon) [text block table] | Average, Maximum and Minimum Incremental Risk Charge of Trading Units (with a 99.9 % confidence level and one-year capital horizon) 1,2,3, Total Credit Trading Core Rates Emerging Markets Other 4 in € m. 2021 2020 2021 2020 2021 2020 2021 2020 2021 2020 Average 436.6 591.4 118.1 100.2 211.4 347.4 188.3 242.6 (81.2) (98.7) Maximum 604.1 688.8 154.6 147.4 574.5 631.6 267.9 324.9 59.1 (70.0) Minimum 292.5 537.3 62.5 50.0 60.1 263.1 84.4 62.8 (224.9) (147.6) Period-end 292.5 560.4 85.4 124.8 78.0 283.6 133.1 250.4 (4.0) (98.5) 1 Amounts show the bands within which the values fluctuated during the 12-weeks preceding December 31, 2021 and December 31, 2020, respectively 2 Business line breakdowns have been updated for 2021 reporting to better reflect the current business structure. 3 All liquidity horizons are set to 12 months. 4 Other includes Capital Release Unit. |
Nontrading Market Risk - Economic Capital Usage by risk type [text block table] | Economic Capital Usage by risk type. Economic capital usage in € m. Dec 31, 2021 Dec 31, 2020 Interest rate risk 1,853 4,062 Credit spread risk 21 92 Equity and Investment risk 1,031 1,885 Foreign exchange risk 1,509 1,682 Pension risk 1,128 934 Guaranteed funds risk 85 41 Total nontrading market risk portfolios 5,628 8,696 |
Risk Report - Liquidity Risk (T
Risk Report - Liquidity Risk (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Liquidity Risk [Abstract] | |
Global All Currency Daily Stress Testing Results [text block table] | Global All Currency Daily Stress Testing Results Dec 31, 2021 Dec 31, 2020 in € bn. Funding Gap Net Liquidity Funding Gap Net Liquidity Systemic market risk 100 220 119 82 189 107 1 notch downgrade (DB specific) 78 220 141 17 145 128 Severe downgrade (DB specific) 152 240 88 157 216 59 Combined 3 195 243 48 177 220 43 1 2 Based on liquidity generation through Liquidity Reserves and other business mitigants. 3 Combined impact of systemic market risk and severe downgrade |
Acquisitions and Dispositions (
Acquisitions and Dispositions (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Acquisitions and Dispositions [Abstract] | |
Assets and liabilities disposed [text block table] | in € m. 2021 2020 2019 Cash and cash equivalents 0 2 0 All remaining assets 3,507 7 2,713 Total assets disposed 3,507 9 2,714 Total liabilities disposed 8,102 79 1,003 |
Business Segments and Related_2
Business Segments and Related Information (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Business Segments and Related Information [Abstract] | |
Segment Results of Operations [text block table] | 2021 in € m. Corporate Investment Private Asset Management Capital Corporate & Total Net revenues 1 5,150 9,631 8,234 2,708 26 (211) 25,538 Provision for credit losses (3) 104 446 5 (42) 5 515 Noninterest expenses Compensation and benefits 1,447 2,199 2,810 822 128 3,012 10,418 General and administrative expenses 2,659 3,583 4,440 840 1,306 (2,008) 10,821 Impairment of goodwill and other intangible assets 5 0 0 0 0 0 5 Restructuring activities 42 47 173 2 (2) (0) 261 Total noninterest expenses 4,153 5,830 7,423 1,664 1,432 1,004 21,505 Noncontrolling interests 0 (17) 0 223 0 (206) 0 Profit (loss) before tax 1,000 3,715 366 816 (1,364) (1,014) 3,518 Cost/income ratio 81% 61% 90% 61% N/M N/M 84% Assets 2 245,716 615,906 310,496 10,387 131,775 10,425 1,324,705 Additions to non-current assets 17 6 149 32 1 1,734 1,939 Risk-weighted assets 65,406 140,600 85,366 14,415 28,059 17,783 351,629 Leverage exposure (fully loaded) 3 299,892 530,361 320,692 10,678 38,830 22,761 1,124,667 Average allocated shareholders' equity 10,301 24,181 12,663 4,815 4,473 104 56,537 Post-tax return on average shareholders’ equity 4 6 % 10 % 1 % 12 % (23) % N/M 4 % Post-tax return on average tangible shareholders’ equity 4 7 % 11 % 1 % 30 % (23) % N/M 4 % 1 Net interest income 2,605 3,332 4,601 (5) 58 526 11,117 Net income (loss) from equity method investments 3 (34) 40 81 7 1 98 2 Equity method investments 72 462 180 349 25 4 1,091 N/M – Not meaningful 3 The Group leverage exposure is presented excluding certain Euro-based exposures facing Eurosystem central banks based on the ECB-decision (EU) 2020/1306 and after having obtained permission from the ECB. The segmental leverage exposures are presented without that deduction. 4 26 % 28 % 2020 in € m. Corporate Investment Private Asset Management Capital Corporate & Total Net revenues 1 5,146 9,286 8,126 2,229 (225) (552) 24,011 Provision for credit losses 364 690 711 2 29 (4) 1,792 Noninterest expenses Compensation and benefits 1,402 2,081 2,863 740 168 3,217 10,471 General and administrative expenses 2,813 3,323 4,238 763 1,774 (2,652) 10,259 Impairment of goodwill and other intangible assets 0 0 0 0 0 0 0 Restructuring activities 28 14 413 22 5 3 485 Total noninterest expenses 4,243 5,418 7,513 1,526 1,947 568 21,216 Noncontrolling interests 0 11 0 157 (0) (169) 0 Profit (loss) before tax 539 3,166 (99) 544 (2,200) (947) 1,003 Cost/income ratio 82 % 58 % 92 % 68 % N/M N/M 88 % Assets 2 237,675 573,536 296,596 9,453 197,667 10,035 1,324,961 Additions to non-current assets 10 4 202 32 0 3,174 3,423 Risk-weighted assets 57,483 128,292 77,074 9,997 34,415 21,690 328,951 Leverage exposure (fully loaded) 3 273,959 476,097 307,746 4,695 71,726 29,243 1,078,268 Average allocated shareholders' equity 9,945 22,911 11,553 4,757 6,166 (23) 55,308 Post-tax return on average shareholders’ equity 4 3 % 9 % (1) % 8 % (26) % N/M 0 % Post-tax return on average tangible shareholders’ equity 4 3 % 10 % (1) % 21 % (27) % N/M 0 % 1 Net interest income 2,883 3,325 4,499 1 61 779 11,548 Net income (loss) from equity method investments 3 22 23 63 9 1 120 2 Equity method investments 69 399 60 304 67 4 901 N/M – Not meaningful Prior year segmental information presented in the current structure. 3 The Group leverage exposure is presented excluding certain Euro-based exposures facing Eurosystem central banks based on the ECB-decision (EU) 2020/1306 and after having obtained permission from the ECB. The segmental leverage exposures are presented without that deduction. 4 39 % 28 % 2019 in € m. Corporate Investment Private Asset Management Capital Corporate & Total Net revenues 1 5,247 7,023 8,239 2,332 217 107 23,165 Provision for credit losses 284 110 344 1 (14) (0) 723 Noninterest expenses Compensation and benefits 1,419 2,156 2,971 832 359 3,406 11,142 General and administrative expenses 2,829 4,073 4,517 851 2,898 (2,916) 12,253 Impairment of goodwill and other intangible assets 492 0 545 0 0 0 1,037 Restructuring activities 137 169 125 29 143 41 644 Total noninterest expenses 4,877 6,397 8,159 1,711 3,400 531 25,076 Noncontrolling interests 0 20 (0) 152 1 (173) 0 Profit (loss) before tax 86 496 (263) 468 (3,170) (251) (2,634) Cost/income ratio 93 % 91 % 99 % 73 % N/M N/M 108 % Assets 2 228,846 501,591 270,334 9,936 259,224 27,743 1,297,674 Additions to non-current assets 9 1 167 27 0 1,117 1,322 Risk-weighted assets 58,993 116,367 74,032 9,527 45,874 19,223 324,015 Leverage exposure (fully loaded) 270,836 432,066 282,575 4,643 126,905 51,016 1,168,040 Average allocated shareholders' equity 10,340 21,736 11,663 4,865 7,253 4,314 60,170 Post-tax return on average shareholders’ equity 3 (0) % 1 % (2) % 7 % (32) % N/M (10) % Post-tax return on average tangible shareholders’ equity 3 (0) % 1 % (2) % 18 % (33) % N/M (11) % 1 Net interest income 2,635 2,709 4,838 (39) 85 3,520 13,749 Net income (loss) from equity method investments 3 32 14 49 12 1 110 2 Equity method investments 66 412 82 276 90 4 929 N/M – Not meaningful Prior year segmental information presented in the current structure. 3 (100) % 28 % |
Segment Results of Operations, Corporate Bank [text block table] | Corporate Bank 2021 increase (decrease) 2020 increase (decrease) in € m. 2021 2020 2019 in € m. in % in € m. in % Net revenues Corporate Treasury Services 3,130 3,125 3,077 5 0 48 2 Institutional Client Services 1,294 1,274 1,405 20 2 (131) (9) Business Banking 726 747 765 (21) (3) (18) (2) Total net revenues 5,150 5,146 5,247 4 0 (101) (2) Of which: Net interest income 2,605 2,883 2,635 (278) (10) 248 9 Commissions and fee income 2,203 2,078 2,192 125 6 (114) (5) Remaining income 343 185 420 158 85 (235) (56) Provision for credit losses (3) 364 284 (367) N/M 80 28 Noninterest expenses Compensation and benefits 1,447 1,402 1,419 46 3 (17) (1) General and administrative expenses 2,659 2,813 2,829 (154) (5) (16) (1) Impairment of goodwill and other intangible assets 5 0 492 5 N/M (492) N/M Restructuring activities 42 28 137 13 47 (108) (79) Total noninterest expenses 4,153 4,243 4,877 (90) (2) (634) (13) Noncontrolling interests 0 0 0 0 N/M 0 N/M Profit (loss) before tax 1,000 539 86 461 86 453 N/M Total assets (in € bn) 1 246 238 229 8 3 9 4 Loans (gross of allowance for loan losses, in € bn) 122 115 119 8 7 (5) (4) Employees (full-time equivalent) 13,265 13,320 13,471 (55) (0) (151) (1) N/M – Not meaningful Prior year segmental information presented in the current structure. 1 Segment assets represent consolidated view, i.e., the amounts do not include intersegment balances. |
Segment Results of Operations, Investment Bank [text block table] | Investment Bank 2021 increase (decrease) 2020 increase (decrease) in € m. 2021 2020 2019 in € m. in % in € m. in % Net revenues Fixed Income, Currency (FIC) Sales & Trading 7,063 7,074 5,524 (11) (0) 1,550 28 Debt Origination 1,573 1,500 1,117 73 5 383 34 Equity Origination 544 369 148 174 47 221 149 Advisory 491 244 370 247 101 (126) (34) Origination & Advisory 2,608 2,114 1,635 494 23 479 29 Other (40) 99 (136) (139) N/M 235 N/M Total net revenues 9,631 9,286 7,023 345 4 2,263 32 Provision for credit losses 104 690 110 (587) (85) 581 N/M Noninterest expenses Compensation and benefits 2,199 2,081 2,156 118 6 (75) (3) General and administrative expenses 3,583 3,323 4,073 260 8 (750) (18) Impairment of goodwill and other intangible assets 0 0 0 0 N/M 0 N/M Restructuring activities 47 14 169 33 N/M (155) (92) Total noninterest expenses 5,830 5,418 6,397 411 8 (979) (15) Noncontrolling interests (17) 11 20 (29) N/M (8) (41) Profit (loss) before tax 3,715 3,166 496 549 17 2,670 N/M Total assets (in € bn) 1 616 574 502 42 7 72 14 Loans (gross of allowance for loan losses, in € bn) 93 69 75 24 34 (6) (8) Employees (full-time equivalent) 7,202 7,584 7,494 (382) (5) 90 1 N/M – Not meaningful Prior year segmental information presented in the current structure 1 Segment assets represent consolidated view, i.e., the amounts do not include intersegment balances. |
Segment Results of Operations, Private Bank [text block table] | Private Bank 2021 increase (decrease) 2020 increase (decrease) in € m. 2021 2020 2019 in € m. in % in € m. in % Net revenues: Private Bank Germany 5,008 4,989 5,109 19 0 (120) (2) International Private Bank 3,226 3,136 3,130 90 3 7 0 IPB Personal Banking 1 908 870 905 38 4 (34) (4) IPB Private Banking 2 2,318 2,266 2,225 52 2 41 2 Total net revenues 8,234 8,126 8,239 109 1 (113) (1) Of which: Net interest income 4,601 4,499 4,838 102 2 (339) (7) Commissions and fee income 3,207 3,052 2,866 155 5 187 7 Remaining income 426 574 534 (148) (26) 40 7 Provision for credit losses 446 711 344 (265) (37) 367 107 Noninterest expenses: Compensation and benefits 2,810 2,863 2,971 (53) (2) (108) (4) General and administrative expenses 4,440 4,238 4,517 202 5 (280) (6) Impairment of goodwill and other intangible assets 0 0 545 0 N/M (545) N/M Restructuring activities 173 413 125 (240) (58) 287 N/M Total noninterest expenses 7,423 7,513 8,159 (91) (1) (645) (8) Noncontrolling interests 0 0 (0) (0) (87) 1 N/M Profit (loss) before tax 366 (99) (263) 465 N/M 164 (62) Total assets (in € bn) 3 310 297 270 14 5 26 10 Loans (gross of allowance for loan losses, in € bn) 254 237 227 17 7 10 5 Assets under Management (in € bn) 4 553 493 482 59 12 11 2 Net flows (in € bn) 30 16 4 14 88 12 N/M Employees (full-time equivalent) 28,100 29,764 31,421 (1,665) (6) (1,657) (5) 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 Segment assets represent consolidated view, i.e., the amounts do not include intersegment balances 4 |
Segment Results of Operations, Asset Management [text block table] | Asset Management 2021 increase (decrease) 2020 increase (decrease) in € m. 2021 2020 2019 in € m. in % in € m. in % Net revenues Management Fees 2,370 2,136 2,141 233 11 (5) (0) Performance and transaction fees 212 90 201 122 135 (111) (55) Other 126 3 (10) 123 N/M 13 N/M Total net revenues 2,708 2,229 2,332 478 21 (103) (4) Provision for credit losses 5 2 1 3 148 1 59 Noninterest expenses Compensation and benefits 822 740 832 82 11 (92) (11) General and administrative expenses 840 763 851 77 10 (88) (10) Impairment of goodwill and other intangible assets 0 0 0 (0) N/M 0 N/M Restructuring activities 2 22 29 (20) (92) (6) (22) Total noninterest expenses 1,664 1,526 1,711 138 9 (185) (11) Noncontrolling interests 223 157 152 66 42 5 4 Profit (loss) before tax 816 544 468 272 50 76 16 Total assets (in € bn) 1 10 9 10 1 10 (0) (5) Assets under Management (in € bn) 928 793 768 135 17 25 3 Net flows (in € bn) 48 30 25 17 N/M 5 N/M Employees (full-time equivalent) 4,072 3,926 3,925 146 4 1 0 N/M – Not meaningful Prior year segmental information presented in the current structure. 1 Segment assets represent consolidated view, i.e., the amounts do not include intersegment balances. |
Segment Results of Operations, Capital Release Unit [text block table] | Capital Release Unit 2021 increase (decrease) 2020 increase (decrease) in € m. 2021 2020 2019 in € m. in % in € m. in % Net revenues 26 (225) 217 251 N/M (442) N/M Provision for credit losses (42) 29 (14) (70) N/M 43 N/M Noninterest expenses Compensation and benefits 128 168 359 (40) (24) (191) (53) General and administrative expenses 1,306 1,774 2,898 (468) (26) (1,124) (39) Impairment of goodwill and other intangible assets 0 0 0 0 N/M 0 N/M Restructuring activities (2) 5 143 (7) N/M (139) (97) Total noninterest expenses 1,432 1,947 3,400 (515) (26) (1,453) (43) Noncontrolling interests - (0) 1 0 N/M (1) N/M Profit (loss) before tax (1,364) (2,200) (3,170) 836 (38) 970 (31) Total assets (in € bn) 1 132 198 259 (66) (33) (62) (24) Employees (full-time equivalent) 267 478 614 (211) (44) (136) (22) N/M – Not meaningful Prior year segmental information presented in the current structure. 1 Segment assets represent consolidated view, i.e., the amounts do not include intersegment balances. |
Segment Results of Operations, Corporate & Other [text block table] | Corporate & Other (C&O) 2021 increase (decrease) 2020 increase (decrease) in € m. 2021 2020 2019 in € m. in % in € m. in % Net revenues (211) (552) 107 340 (62) (659) N/M Provision for credit losses 5 (4) (0) 9 N/M (3) N/M Noninterest expenses Compensation and benefits 3,012 3,217 3,406 (206) (6) (188) (6) General and administrative expenses (2,008) (2,652) (2,916) 644 (24) 263 (9) Impairment of goodwill and other intangible assets 0 0 0 0 N/M 0 N/M Restructuring activities (0) 3 41 (3) N/M (38) (93) Total noninterest expenses 1,004 568 531 436 77 37 7 Noncontrolling interests (206) (169) (173) (37) 22 3 (2) Profit (loss) before tax (1,014) (947) (251) (68) 7 (696) N/M Employees (full-time equivalent) 30,064 29,587 30,672 477 2 (1,085) (4) N/M – Not meaningful Prior year segmental information presented in the current structure. |
Entity-Wide Disclosures by Geographic Area [text block table] | in € m. 2021 2020 2019 Germany: Corporate Bank 2,593 2,538 2,444 Investment Bank 450 431 364 Private Bank 5,481 5,456 5,562 Asset Management 1,385 992 1,054 Capital Release Unit 4 23 80 Total Germany 9,914 9,441 9,504 UK: Corporate Bank 144 110 207 Investment Bank 3,642 3,552 2,244 Private Bank (2) 31 29 Asset Management 336 292 345 Capital Release Unit (122) (383) (181) Total UK 3,997 3,602 2,645 Rest of Europe, Middle East and Africa: Corporate Bank 900 934 846 Investment Bank 255 358 292 Private Bank 1,783 1,682 1,676 Asset Management 286 344 380 Capital Release Unit 26 35 99 Total Rest of Europe, Middle East and Africa 3,249 3,355 3,293 Americas (primarily United States): Corporate Bank 750 768 951 Investment Bank 3,904 3,285 2,701 Private Bank 364 362 379 Asset Management 537 465 437 Capital Release Unit 41 50 88 Total Americas 5,596 4,929 4,556 Asia/Pacific: Corporate Bank 764 796 798 Investment Bank 1,381 1,660 1,421 Private Bank 608 594 593 Asset Management 163 136 116 Capital Release Unit 77 49 130 Total Asia/Pacific 2,993 3,236 3,059 Corporate and Other (211) (552) 107 Consolidated net revenues 1 25,538 24,011 23,165 1 Consolidated net revenues comprise interest and similar income, interest expenses and total noninterest income (including net commission and fee income). Revenues are attributed to countries based on the location in which the Group’s booking office is located. The location of a transaction on the Group’s books is sometimes different from the location of the headquarters or other offices of a customer and different from the location of the Group’s personnel who entered into or facilitated the transaction. Where the Group records a transaction involving its staff and customers and other third parties in different locations frequently depends on other considerations, such as the nature of the transaction, regulatory considerations and transaction processing considerations. |
Net Interest Income and Net G_2
Net Interest Income and Net Gains (Losses) on Financial Assets/Liabilities at Fair Value through Profit or Loss (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Net Interest Income and Net Gains (Losses) on Financial Assets/Liabilities at Fair Value through Profit or Loss [Abstract] | |
Net Interest Income [text block table] | Net interest income in € m. 2021 2020 2019 Interest and similar income: Interest income on cash and central bank balances 160 321 1,762 Interest income on interbank balances (w/o central banks) 67 325 293 Central bank funds sold and securities purchased under resale agreements 273 318 340 Loans 10,650 11,586 13,760 Other 1 1,747 896 824 Total Interest and similar income from assets measured at amortized cost 12,897 13,446 16,979 Interest income on financial assets at fair value through other comprehensive income 501 635 1,023 Total interest and similar income calculated using the effective interest method 13,399 14,081 18,002 Financial assets at fair value through profit or loss 1 3,374 3,873 7,205 Total interest and similar income 16,773 17,954 25,208 Thereof: negative interest expense on financial liabilities 1,217 636 372 Interest expense: Interest-bearing deposits 1,456 2,065 3,643 Central bank funds purchased and securities sold under repurchase agreements 148 169 367 Other short-term borrowings 71 62 163 Long-term debt 1,484 1,612 2,002 Trust preferred securities 3 42 187 Other 876 807 1,667 Total interest expense measured at amortized cost 4,036 4,758 8,030 Financial liabilities at fair value through profit or loss 1,619 1,648 3,429 Total interest expense 5,655 6,405 11,458 Thereof: negative interest income on financial assets 786 582 743 Net interest income 11,117 11,548 13,749 1 Prior years' comparatives aligned to presentation in the current year. |
Net Gains (Losses) on Financial Assets/Liabilities at Fair Value through Profit or Loss [text block table] | Net gains (losses) on financial assets/liabilities at fair value through profit or loss in € m. 2021 2020 2019 Trading income (loss): FIC Sales and Trading 2,780 3,457 2,563 Other trading income (loss) (827) (1,360) (2,366) Total trading income (loss) 1,954 2,097 197 Net gains (losses) on non-trading financial assets mandatory at fair value through profit or loss: Breakdown by financial assets category: Debt Securities 95 5 72 Equity Securities 812 114 271 Loans and loan commitments 18 (38) 28 Deposits 2 (9) (19) Others non-trading financial assets mandatory at fair value through profit and loss 180 203 25 Total net gains (losses) on non-trading financial assets mandatory at fair value through profit or loss: 1,106 276 377 Net gains (losses) on financial assets/liabilities designated at fair value through profit or loss: Breakdown by financial asset/liability category: Loans and loan commitments 11 15 (9) Deposits 5 (1) (0) Long-term debt 48 (71) (386) Other financial assets/liabilities designated at fair value through profit or loss 15 16 15 Total net gains (losses) on financial assets/liabilities designated at fair value through profit or loss 79 (40) (381) Total net gains (losses) on financial assets/liabilities at fair value through profit or loss 3,139 2,332 193 |
Combined Net Interest and Net Gains (Losses) on Financial Assets/Liabilities at Fair Value through Profit or Loss [text block table] | Combined net interest income and net gains (losses) on financial assets/liabilities at fair value through profit or loss in € m. 2021 2020 2019 Net interest income 11,117 11,548 13,749 Trading income (loss) 1 1,954 2,097 197 Net gains (losses) on non-trading financial assets mandatory at fair value through profit or loss 1,106 276 377 Net gains (losses) on financial assets/liabilities designated at fair value through profit or loss 79 (40) (381) Total net gains (losses) on financial assets/liabilities at fair value through profit or loss 3,139 2,332 193 Total net interest income and net gains (losses) on financial assets/liabilities at fair value 2 14,256 13,880 13,942 Corporate Treasury Services 1,814 2,073 1,757 Institutional Client Services 326 311 405 Business Banking 526 555 556 Corporate Bank 2,666 2,939 2,718 FIC Sales & Trading 6,917 6,991 5,696 Remaining Products (26) 202 (253) Investment Bank 6,891 7,193 5,442 Private Bank Germany 3,114 2,956 3,292 International Private Bank 1,733 1,693 1,699 Private Bank 4,847 4,648 4,991 Asset Management 246 (98) 87 Capital Release Unit (18) (33) 155 Corporate & Other (375) (768) 549 Total net interest income and net gains (losses) on financial assets/liabilities at fair value 14,256 13,880 13,942 1 Prior year segmental information presented in the current structure. 2 |
Commission and Fee Income (Tabl
Commission and Fee Income (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Commissions and Fee Income [Abstract] | |
Commission and Fee Income and Expense [text block table] | in € m. 2021 2020 2019 Commission and fee income and expense: Commission and fee income 13,730 12,044 12,283 Commission and fee expense 2,796 2,620 2,763 Net commissions and fee income 10,934 9,424 9,520 |
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 Dec 31,2021 in € m. Corporate Investment Private Asset Capital Corporate & Total Major type of services: Commissions for administration 231 27 259 21 4 (2) 539 Commissions for assets under management 16 1 369 3,570 (0) 0 3,956 Commissions for other securities 423 (0) 43 1 0 0 467 Underwriting and advisory fees 35 2,258 12 0 (0) (41) 2,264 Brokerage fees 22 246 1,302 96 118 (0) 1,784 Commissions for local payments 441 4 864 0 0 10 1,320 Commissions for foreign commercial business 456 23 95 0 (0) (2) 572 Commissions for foreign currency/exchange business 11 0 5 0 0 (0) 16 Commissions for loan processing and guarantees 564 279 305 0 5 5 1,157 Intermediary fees 12 3 617 0 0 11 644 Fees for sundry other customer services 282 562 40 121 4 2 1,011 Total fee and commissions income 2,494 3,403 3,910 3,809 132 (18) 13,730 Gross expense (2,796) Net fees and commissions 10,934 Dec 31,2020 in € m. Corporate Investment Private Asset Capital Corporate & Total Major type of services: Commissions for administration 245 17 235 23 1 (3) 518 Commissions for assets under management 19 1 319 3,090 (0) 0 3,429 Commissions for other securities 365 0 35 0 0 0 401 Underwriting and advisory fees 29 1,688 13 0 1 (42) 1,688 Brokerage fees 21 357 1,103 72 113 (1) 1,665 Commissions for local payments 436 (2) 951 (0) 0 8 1,394 Commissions for foreign commercial business 409 25 104 0 0 (3) 536 Commissions for foreign currency/exchange business 4 0 6 0 0 (0) 11 Commissions for loan processing and guarantees 529 210 305 0 7 7 1,058 Intermediary fees 9 2 579 1 1 12 604 Fees for sundry other customer services 276 289 39 131 4 1 741 Total fee and commissions income 2,344 2,588 3,689 3,317 127 (20) 12,044 Gross expense (2,620) Net fees and commissions 9,424 Prior year segmental information presented in the current structure. Fee and commission income and gross expense have been restated by € 182 million for 2020. The reclassifications did not affect net fee and commission income. Dec 31,2019 in € m. Corporate Investment Private Asset Capital Corporate & Total Major type of services: Commissions for administration 251 8 234 23 5 (0) 521 Commissions for assets under management 22 1 304 3,219 1 1 3,547 Commissions for other securities 330 (0) 28 1 1 0 359 Underwriting and advisory fees 29 1,568 15 0 61 (17) 1,656 Brokerage fees 13 253 930 81 470 4 1,751 Commissions for local payments 497 0 974 (0) 1 2 1,474 Commissions for foreign commercial business 455 26 106 0 0 (1) 586 Commissions for foreign currency/exchange business 7 0 7 0 0 0 15 Commissions for loan processing and guarantees 497 189 281 0 16 5 989 Intermediary fees 35 2 486 0 1 11 535 Fees for sundry other customer services 297 349 54 127 23 0 850 Total fee and commissions income 2,433 2,395 3,419 3,451 578 7 12,283 Gross expense (2,763) Net fees and commissions 9,520 Prior year segmental information presented in the current structure. |
Gain and Losses on Derecognit_2
Gain and Losses on Derecognition of Financial Assets at Amortized Cost (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Gain and Losses on derecognition of Financial Assets at Amortized Cost [Abstract] | |
Gain and Losses on derecognition of Financial Assets at Amortized Cost [text block table] | in € m. 2021 2020¹ 2019¹ Gains 15 344 5 Losses (15) (33) (2) Net gains (losses) from derecognition of financial assets measured at amortized cost 1 311 3 1 Prior years' comparatives aligned to presentation in the current year. |
Other Income (Tables)
Other Income (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Other Income [Abstract] | |
Other Income [text block table] | in € m. 2021 2020² 2019² Other income (loss): Insurance premiums 3 3 3 Net income (loss) from hedge relationships qualifying for hedge accounting 195 (214) (635) Remaining other income (loss) 1 (185) 162 (40) Total other income (loss) 13 (48) (671) 1 Includes net gains (losses) of € 10 million € -59 million € 4 million 2 Prior years' comparatives aligned to presentation in the current year. |
General and Administrative Ex_2
General and Administrative Expenses (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
General and administrative expenses [Abstract] | |
General and Administrative Expenses [text block table] | in € m. 2021 2020 2019 General and administrative expenses: Information Technology 4,321 3,862 5,011 Occupancy, furniture and equipment expenses 1,727 1,724 1,693 Regulatory, Tax & Insurance 1 1,395 1,407 1,440 Professional services 2 924 977 1,142 Banking Services and outsourced operations 2 946 967 969 Market Data and Research Services 347 376 421 Travel expenses 46 76 256 Marketing expenses 178 174 251 Other expenses 3 938 697 1,070 Total general and administrative expenses 10,821 10,259 12,253 1 Includes bank levy of € 553 million € 633 million € 622 million 2 Prior years' comparatives aligned to presentation in the current year. 3 Includes litigation related expenses of € 466 million € 158 million € 473 million |
Restructuring (Tables)
Restructuring (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Restructuring [Abstract] | |
Net Restructuring Expense by Division [text block table] | Net restructuring expense by division in € m. 2021 2020 2019 Corporate Bank 42 28 137 Investment Bank 47 14 169 Private Bank 173 413 125 Asset Management 2 22 29 Capital Release Unit (2) 5 143 Corporate & Other (0) 3 41 Total Net Restructuring Charges 261 485 644 |
Net Restructuring by Type [text block table] | Net restructuring by type in € m. 2021 2020 2019 Restructuring – Staff related 241 479 641 thereof: Termination Benefits 224 441 476 Retention Acceleration 16 36 156 Social Security 1 1 9 Restructuring – Non Staff related 21 6 2 Total Net Restructuring Charges 261 485 644 |
Organizational Changes [text block table] | Organizational changes Full-time equivalent staff 2021 2020 2019 Corporate Bank 228 303 138 Investment Bank 149 100 626 Private Bank 776 630 731 Asset Management 10 48 136 Capital Release Unit 13 69 514 Infrastructure 186 297 419 Total full-time equivalent staff 1,362 1,447 2,564 |
Earnings per Share (Tables)
Earnings per Share (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Earnings per share [Abstract] | |
Computation of basic and diluted earnings per share [text block table] | Computation of basic and diluted earnings per share in € m. 2021 2020 2019 Net income (loss) attributable to Deutsche Bank shareholders and additional equity components 2,451 483 (5,390) Coupons paid on additional equity components (363) (349) (330) Net income (loss) attributable to Deutsche Bank shareholders – 2,088 135 (5,719) Effect of dilutive securities 0 0 0 Net income (loss) attributable to Deutsche Bank shareholders after assumed 2,088 135 (5,719) Number of shares in million Weighted-average shares outstanding – denominator for basic earnings per share 2,096.5 2,108.2 2,110.0 Effect of dilutive securities: Forwards 0.0 0.0 0.0 Employee stock compensation options 0.0 0.0 0.0 Deferred shares 46.6 62.0 0.0 Other (including trading options) 0.0 0.0 0.0 Dilutive potential common shares 0.0 0.0 0.0 Adjusted weighted-average shares after assumed conversions – 2,143.2 2,170.1 2,110.0 |
Earnings per share [text block table] | Earnings per share in € 2021 2020 2019 Basic earnings per share 1.00 0.06 (2.71) Diluted earnings per share 0.97 0.06 (2.71) |
Instruments outstanding and not included in the calculation of diluted earnings per share [text block table] | Instruments outstanding and not included in the calculation of diluted earnings per share 1 Number of shares in m. 2021 2020 2019 Call options sold 0.0 0.0 0.0 Employee stock compensation options 0.0 0.0 0.0 Deferred shares 0.0 0.0 117.6 |
Financial Assets_Liabilities _2
Financial Assets/Liabilities at Fair Value through Profit or Loss (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Financial Assets/Liabilities at Fair Value through Profit or Loss [Abstract] | |
Financial Assets at Fair Value through Profit and Loss [text block table] | in € m. Dec 31, 2021 Dec 31, 2020 Financial assets classified as held for trading: Trading assets: Trading securities 92,536 97,756 Other trading assets 1 9,860 10,173 Total trading assets 102,396 107,929 Positive market values from derivative financial instruments 299,732 343,493 Total financial assets classified as held for trading 402,128 451,422 Non-trading financial assets mandatory at fair value through profit or loss: Securities purchased under resale agreements 59,931 46,057 Securities borrowed 18,355 17,009 Loans 895 2,192 Other financial assets mandatory at fair value through profit or loss 9,784 10,864 Total Non-trading financial assets mandatory at fair value through profit or loss 88,965 76,121 Financial assets designated at fair value through profit or loss: Loans 139 437 Other financial assets designated at fair value through profit or loss 0 0 Total financial assets designated at fair value through profit or loss 140 437 Total financial assets at fair value through profit or loss 491,233 527,980 1 Includes traded loans of € 9.2 billion € 8.3 billion |
Financial Liabilities at Fair Value through Profit and Loss [text block table] | in € m. Dec 31, 2021 Dec 31, 2020 Financial liabilities classified as held for trading: Trading liabilities: Trading securities 54,235 43,882 Other trading liabilities 483 434 Total trading liabilities 54,718 44,316 Negative market values from derivative financial instruments 287,109 327,775 Total financial liabilities classified as held for trading 341,827 372,090 Financial liabilities designated at fair value through profit or loss: Securities sold under repurchase agreements 53,364 41,636 Loan commitments 7 2 Long-term debt 3,699 3,374 Other financial liabilities designated at fair value through profit or loss 1,397 1,570 Total financial liabilities designated at fair value through profit or loss 58,468 46,582 Investment contract liabilities 562 526 Total financial liabilities at fair value through profit or loss 400,857 419,199 |
Changes in fair value of financial assets attributable to movements in counterparty credit risk [text block table] | in € m. Dec 31, 2021 Dec 31, 2020 Notional value of financial assets exposed to credit risk 136 439 Annual change in the fair value reflected in the Statement of Income 1 (8) Cumulative change in the fair value 0 (8) Notional of credit derivatives used to mitigate credit risk 98 166 Annual change in the fair value reflected in the Statement of Income 0 8 Cumulative change in the fair value 0 8 |
Changes in fair value of financial liabilities attributable to movements in the Groups credit risk [text block table] | Changes in fair value of financial liabilities attributable to movements in the Group’s credit risk 1 in € m. Dec 31, 2021 Dec 31, 2020 Presented in Other comprehensive Income Cumulative change in the fair value 7 (12) Presented in Statement of income Annual change in the fair value reflected in the Statement of Income 0 0 Cumulative change in the fair value 0 0 1 The fair value of a financial liability incorporates the credit risk of that financial liability. Changes in the fair value of financial liabilities issued by consolidated structured entities have been excluded as this is not related to the Group’s credit risk but to that of the legally isolated structured entity, which is dependent on the collateral it holds. |
Transfers of the cumulative gains or losses within equity during the period [text block table] | Transfers of the cumulative gains or losses within equity during the period in € m. Dec 31, 2021 Dec 31, 2020 Cumulative gains or losses within equity during the period 0 0 |
Amounts realized on derecognition of liabilities designated at FVtPL [text block table] | Amounts realized on derecognition of liabilities designated at fair value through profit or loss in € m. Dec 31, 2021 Dec 31, 2020 Amount presented in other comprehensive income realized at derecognition 0 0 |
Excess of the Contractual Amount Repayable at Maturity over the Carrying Value of Financial Liabilities [text block table] | in € m. Dec 31, 2021 Dec 31, 2020 Including undrawn loan commitments² 2,943 963 Excluding undrawn loan commitments 607 159 1 Assuming the liability is extinguished at the earliest contractual maturity that the Group can be required to repay. When the amount payable is not fixed, it is determined by reference to conditions existing at the reporting date. 2 The contractual cash flows at maturity for undrawn loan commitments assume full drawdown of the facility. |
Financial Instruments carried_2
Financial Instruments carried at Fair Value (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Financial Instruments carried at Fair Value [Abstract] | |
Carrying Value of The Financial Instruments held at Fair Value [text block table] | Carrying value of the financial instruments held at fair value 1 Dec 31, 2021 Dec 31, 2020 in € m. Quoted Valuation Valuation Quoted Valuation Valuation Financial assets held at fair value: Trading assets 51,020 42,561 8,815 44,525 55,220 8,183 Trading securities 50,814 38,108 3,614 44,349 50,340 3,066 Other trading assets 206 4,453 5,201 176 4,880 5,117 Positive market values from derivative financial instruments 4,354 286,337 9,042 4,208 330,561 8,725 Non-trading financial assets mandatory at fair value through profit or loss 2,764 81,304 4,896 2,992 68,511 4,618 Financial assets designated at fair value through profit or loss 0 91 49 0 436 0 Financial assets at fair value through other comprehensive income 13,375 13,302 2,302 28,057 25,741 2,037 Other financial assets at fair value 98 928 2 78 93 9,238 2 20 Total financial assets held at fair value 71,611 424,524 25,182 79,875 489,707 23,583 Financial liabilities held at fair value: Trading liabilities 48,364 6,272 83 36,699 7,615 2 Trading securities 48,363 5,838 33 36,674 7,206 2 Other trading liabilities 0 434 49 25 409 0 Negative market values from derivative financial instruments 5,208 272,121 9,781 4,430 315,145 8,200 Financial liabilities designated at fair value through profit or loss 0 56,728 1,740 0 45,622 960 Investment contract liabilities 0 562 0 0 526 0 Other financial liabilities at fair value 5 3,025 2 (179) 3 799 3,573 2 (294) 3 Total financial liabilities held at fair value 53,576 338,707 11,424 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”. 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. |
Reconciliation of Financial Instruments Categorized in Level 3 [text block table] | Reconciliation of financial instruments classified in Level 3 Dec 31, 2021 in € m. Balance, Changes Total 1 Purchases Sales Issu- 2 Settle- 3 Transfers 4 Transfers 4 Balance, Financial assets held at Trading securities 3,066 (2) (263) 3,183 (2,445) 0 (106) 766 (585) 3,614 Positive market values 8,725 0 890 0 0 0 (727) 2,938 (2,783) 9,042 Other trading assets 5,117 0 237 500 (2,194) 2,868 (1,635) 714 (406) 5,201 Non-trading financial assets mandatory at fair value through profit or loss 4,618 0 425 493 (288) 243 (733) 1,064 (926) 4,896 Financial assets designated at fair value through profit or loss 0 0 (0) 0 0 48 0 0 0 49 Financial assets at fair value through other comprehensive income 2,037 0 61 5 53 (150) 662 (560) 350 (150) 2,302 Other financial assets at 20 0 2 0 0 0 (17) 0 74 78 Total financial assets held 23,583 (2) 1,351 6,7 4,229 (5,076) 3,821 (3,777) 5,831 (4,777) 25,182 Financial liabilities held Trading securities 2 0 0 0 0 0 (0) 33 (2) 33 Negative market values 8,200 0 509 0 0 0 (367) 3,059 (1,620) 9,781 Other trading liabilities 0 0 (15) 0 0 0 0 64 0 49 Financial liabilities 960 0 911 0 0 96 (314) 198 (112) 1,740 Other financial liabilities (294) 0 (12) 0 0 0 33 13 81 (179) Total financial liabilities 8,867 0 1,393 6,7 0 0 96 (647) 3,367 (1,652) 11,424 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 year they are recorded at their fair value at the beginning of year. For instruments transferred into Level 3 the table shows the gains and losses and cash flows on the instruments as if they had been transferred at the beginning of the year. Similarly, for instruments transferred out of Level 3 the table does not show any gains or losses or cash flows on the instruments during the year since the table is presented as if they have been transferred out at the beginning of the year. 5 Total gains and losses on financial assets at fair value through other comprehensive income include a loss of € 13 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 € 447 million € 44 million 7 For assets positive balances represent gains, negative balances represent losses. For liabilities positive balances represent losses, negative balances represent gains. Dec 31, 2020 in € m. Balance, Changes Total 1 Purchases Sales Issu- 2 Settle- 3 Transfers 4 Transfers 4 Balance, Financial assets held at Trading securities 3,430 (79) (101) 2,134 (1,628) 11 (423) 333 (612) 3,066 Positive market values 8,167 (1) 1,422 0 0 0 (833) 1,541 (1,572) 8,725 Other trading assets 6,137 0 (423) 1,188 (2,712) 1,855 (1,207) 710 (433) 5,117 Non-trading financial assets mandatory at fair value through profit or loss 5,278 0 (256) 389 (394) 347 (811) 852 (786) 4,618 Financial assets designated at fair value through profit or loss 7 0 (1) 0 0 6 (12) 0 0 0 Financial assets at fair value through other comprehensive income 1,050 0 (66) 5 127 (50) 718 (182) 618 (177) 2,037 Other financial assets at 363 0 (9) 0 0 0 4 (147) (191) 20 Total financial assets held 24,431 (79) 567 6,7 3,839 (4,784) 2,937 (3,463) 3,906 (3,771) 23,583 Financial liabilities held at Trading securities 2 0 (2) 0 0 0 1 0 (0) 2 Negative market values 6,652 0 2,108 0 0 0 (365) 1,420 (1,615) 8,200 Other trading liabilities 38 0 (1) 0 0 0 (9) 0 (28) 0 Financial liabilities 1,954 0 55 0 0 186 (763) 215 (687) 960 Other financial liabilities (34) 0 26 0 0 0 (16) (187) (83) (294) Total financial liabilities 8,612 0 2,185 6,7 0 0 186 (1,151) 1,448 (2,413) 8,867 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 year they are recorded at their fair value at the beginning of year. For instruments transferred into Level 3 the table shows the gains and losses and cash flows on the instruments as if they had been transferred at the beginning of the year. Similarly, for instruments transferred out of Level 3 the table does not show any gains or losses or cash flows on the instruments during the year since the table is presented as if they have been transferred out at the beginning of the year. 5 Total gains and losses on financial assets at fair value through other comprehensive income include a gain of € 11 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 € 495 million € 66 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 Dec 31, 2021 Dec 31, 2020 in € m. Positive fair value Negative fair value Positive fair value Negative fair value Securities: Debt securities 267 256 287 201 2 Commercial mortgage-backed securities 18 15 9 22 Mortgage and other asset-backed securities 13 9 20 12 Corporate, sovereign and other debt securities 236 233 259 167 2 Equity securities 94 65 83 57 2 Derivatives: Credit 163 109 283 185 Equity 105 100 257 238 Interest related 409 232 306 266 Foreign Exchange 34 31 37 32 Other 98 82 93 82 Loans: Loans 570 340 483 306 Other 0 0 0 0 Total 1,739 1,215 1,829 1,367 1 2 Reassessment of trades have resulted a reclassification in Positive and 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) [text block table] | Financial instruments classified in Level 3 and quantitative information about unobservable inputs Dec 31, 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 47 0 Price based Price 0 % 114 % Discounted cash flow Credit spread (bps) 81 1,235 Mortgage- and other asset-backed 81 0 Price based Price 0 % 112 % Discounted cash flow Credit spread (bps) 85 1,495 Recovery rate 0 % 85 % Constant default rate 0 % 2 % Constant prepayment rate 0 % 27 % Total mortgage- and other asset-backed 128 0 Debt securities and other 5,074 1,654 Price based Price 0 % 212 % Held for trading 3,383 33 Discounted cash flow Credit spread (bps) 12 571 Corporate, sovereign and 3,383 Non-trading financial assets mandatory at fair value through profit or loss 1,568 Designated at fair value through profit or loss 0 1,621 Financial assets at fair value through other comprehensive income 123 Equity securities 660 0 Market approach Price per net asset value 0 % 101 % Held for trading 103 0 Enterprise value/EBITDA 5 17 Non-trading financial assets mandatory at fair value through profit or loss 557 Discounted cash flow Weighted average cost capital 6 % 20 % Designated at fair value through profit or loss 0 Price based Price 0 % 139 % Loans 8,184 49 Price based Price 0 % 275 % Held for trading 5,188 49 Discounted cash flow Credit spread (bps) 34 2,117 Non-trading financial assets mandatory at fair value through profit or loss 769 Designated at fair value through profit or loss 48 0 Recovery rate 40 % 85 % Financial assets at fair value through other comprehensive income 2,179 Loan commitments 0 7 Discounted cash flow Credit spread (bps) 128 906 Recovery rate 40 % 75 % Loan pricing model Utilization 0 % 100 % Other financial instruments 2,016 2 112 3 Discounted cash flow IRR 7 % 16 % Repo rate (bps) (27) 400 Total non-derivative financial 16,062 1,823 1 2 Other financial assets include € 13 million € 2.0 billion 3 Other financial liabilities include € 112 million Dec 31, 2021 Fair value in € m. Assets Liabilities Valuation technique(s) Significant unobservable Range Financial instruments held at fair value: Market values from derivative Interest rate derivatives 4,725 4,724 Discounted cash flow Swap rate (bps) (80) 817 Inflation swap rate 1 % 5 % Constant default rate 0 % 20 % Constant prepayment rate 4 % 24 % Option pricing model Inflation volatility 0 % 9 % Interest rate volatility 0 % 31 % IR - IR correlation (1) % 99 % Hybrid correlation (70) % 100 % Credit derivatives 686 827 Discounted cash flow Credit spread (bps) 2 6,630 Recovery rate 0 % 40 % Correlation pricing Credit correlation 30 % 63 % Equity derivatives 766 1,749 Option pricing model Stock volatility 25 % 68 % Index volatility 11 % 80 % Index - index correlation 88% 91% Stock - stock correlation 0 % 0 % Stock Forwards 0 % 9 % Index Forwards 0 % 5 % FX derivatives 1,816 1,913 Option pricing model Volatility (33) % 59 % Quoted Vol 0 % 0 % Other derivatives 1,127 388 1 Discounted cash flow Credit spread (bps) - - Option pricing model Index volatility 0 % 131 % Commodity correlation 15 % 86 % Total market values from derivative 9,120 9,601 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)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 % Designated at fair value through profit or loss 0 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 Designated at fair value through profit or loss 0 0 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 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 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] | in € m. Dec 31, 2021 Dec 31, 2020 Financial assets held at fair value: Trading securities (332) 38 Positive market values from derivative financial instruments 1,556 2,589 Other trading assets 93 (248) Non-trading financial assets mandatory at fair value through profit or loss 241 (14) Financial assets designated at fair value through profit or loss (0) 0 Financial assets at fair value through other comprehensive income (0) 20 Other financial assets at fair value 3 4 Total financial assets held at fair value 1,560 2,389 Financial liabilities held at fair value: Trading securities (0) (0) Negative market values from derivative financial instruments (1,292) (2,536) Other trading liabilities 15 0 Financial liabilities designated at fair value through profit or loss (895) 53 Other financial liabilities at fair value 8 (26) Total financial liabilities held at fair value (2,165) (2,510) Total (604) (121) |
Recognitions of Trade Date Profit [text block table] | in € m. 2021 2020 Balance, beginning of year 454 441 New trades during the period 212 308 Amortization (142) (140) Matured trades (61) (130) Subsequent move to observability (4) (22) Exchange rate changes 2 (4) Balance, end of year 462 454 |
Fair Value of Financial Instr_2
Fair Value of Financial Instruments not carried at Fair Value (Tables) | 12 Months Ended |
Dec. 31, 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 Dec 31, 2021 in € m. Carrying value Fair value Quoted Valuation Valuation Financial assets: Cash and central bank balances 192,021 192,021 192,021 0 0 Interbank balances (w/o central banks) 7,342 7,342 0 7,342 0 Central bank funds sold and securities 8,368 8,429 0 7,651 778 Securities borrowed 63 63 0 63 0 Loans 472,069 476,674 0 13,682 462,991 Other financial assets 94,588 94,732 9,048 85,335 349 Financial liabilities: Deposits 604,396 604,645 307 604,338 0 Central bank funds purchased and securities 747 745 0 745 0 Securities loaned 24 24 0 24 0 Other short-term borrowings 4,034 4,035 0 4,010 25 Other financial liabilities 81,047 81,047 2,023 79,023 0 Long-term debt 144,485 146,871 0 141,189 5,683 Trust preferred securities 528 587 0 587 0 Dec 31, 2020 in € m. Carrying value Fair value Quoted Valuation Valuation Financial assets: Cash and central bank balances 166,208 166,208 166,208 0 0 Interbank balances (w/o central banks) 9,130 9,132 866 8,266 0 Central bank funds sold and securities 8,533 8,519 0 7,694 825 Securities borrowed 0 0 0 0 0 Loans 426,691 434,442 0 13,253 421,189 Other financial assets 94,069 94,393 7,714 86,049 629 Financial liabilities: Deposits 567,745 568,172 66 568,105 0 Central bank funds purchased and securities 2,325 2,328 0 2,328 0 Securities loaned 1,697 1,697 0 1,697 0 Other short-term borrowings 3,553 3,556 0 3,540 15 Other financial liabilities 96,602 96,602 1,902 94,700 0 Long-term debt 149,163 150,691 0 144,130 6,560 Trust preferred securities 1,321 1,069 0 1,069 0 1 Amounts generally presented on a gross basis, in line with the Group’s accounting policy regarding offsetting of financial instruments as described in Note 1 “Significant Accounting Policies and Critical Accounting Estimates”. |
Financial assets at fair valu_2
Financial assets at fair value through other comprehensive income (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Financial assets at fair value through other comprehensive income [Abstract] | |
Financial assets at fair value through other comprehensive income [text block table] | in € m. Dec 31, 2021 Dec 31, 2020 Securities purchased under resale agreement 1,231 1,543 Debt securities: German government 876 10,245 U.S. Treasury and U.S. government agencies 8,770 9,221 U.S. local (municipal) governments 253 251 Other foreign governments 10,965 26,308 Corporates 604 2,272 Other asset-backed securities 0 31 Mortgage-backed securities, including obligations of U.S. federal agencies 714 636 Other debt securities 1,194 692 Total debt securities 23,377 49,656 Loans 4,370 4,635 Total financial assets at fair value through other comprehensive income 28,979 55,834 |
Equity Method Investments (Tabl
Equity Method Investments (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Equity Method Investments [Abstract] | |
Significant investments [text block table] | Significant investments as of December 31, 2021 1 Investment Principal place of business Nature of relationship Ownership percentage Huarong Rongde Asset Management Company Limited Beijing, China Strategic Investment 40.7 % Harvest Fund Management Co., Ltd. Shanghai, China Strategic Investment 30.0 % 1 The Group has significant influence over these investees through its holding percentage and representation on the board seats. |
Summarised financial information on Huarong Rongde Asset Management Company Ltd [text block table] | Summarized financial information on Huarong Rongde Asset Management Company Limited 1 in € m. Dec 31, 2020 Dec 31, 2019 Total net revenues 76 97 Net income 54 62 Other comprehensive income 0 54 Total comprehensive income 2 54 116 in € m. Dec 31, 2020 Dec 31, 2019 Current assets 2,979 2,323 Non-Current assets 247 804 Total assets 3,226 3,127 Current liabilities 1,273 1,157 Non-Current liabilities 1,180 1,274 Total liabilities 2,453 2,431 Noncontrolling Interest 0 (3) Net assets of the equity method investee 773 699 1 Due to the difference in reporting timelines for the Group and Huarong Rongde Asset Management Company Limited Equity method accounting was performed for December 2021 based on December 2020 PRC GAAP audited financials and for December 2020 based on December 2019 PRC GAAP audited financials. 2 The Group received dividends from Huarong Rongde Asset Management Company Limited of € 0 million € 9 million |
Reconciliation of total net assets of Huarong Rongde Asset Management Company Ltd to the Groups carrying amount [text block table] | Reconciliation of total net assets of Huarong Rongde Asset Management Company Limited to the Group’s carrying amount 1 in € m. Dec 31, 2020 Dec 31, 2019 Net assets of the equity method investee 773 699 Group's ownership percentage on the investee's equity 40.7 % 40.7 % Group's share of net assets 315 284 Goodwill 0 0 Intangible Assets 0 0 Other adjustments (97) (9) Carrying amount 2 218 275 1 Due to the difference in reporting timelines for the Group and Huarong Rongde Asset Management Company Limited Equity method accounting was performed for December 2021 based on December 2020 PRC GAAP audited financials and for December 2020 based on December 2019 PRC GAAP audited financials. 2 There is impairment loss of € 97 million € 0 million |
Summarised financial information on Harvest Fund Management Co., LTD [text block table] | Summarized financial information on Harvest Fund Management Co., Ltd. in € m. Dec 31, 2021¹ Dec 31, 2020² Total net revenues 1,147 842 Net income 295 224 Other comprehensive income (1) (5) Total comprehensive income 3 294 219 in € m. Dec 31, 2021 Dec 31, 2020 Current assets 1,291 1,015 Non-Current assets 966 804 Total assets 2,257 1,819 Current liabilities 1,006 760 Non-Current liabilities 192 169 Total liabilities 1,197 929 Noncontrolling Interest 35 23 Net assets of the equity method investee 1,024 867 1 December 2021 numbers are based on 2021 unaudited financials 2 December 2020 numbers are based on 2020 audited financials. 3 The Group received dividends from Harvest Fund Management Co., Ltd. of € 68 million € 21 million € 6 million |
Reconciliation of total net assets of Harvest Fund Management Co., LTD to the Groups carrying amount [text block table] | Reconciliation of total net assets of Harvest Fund Management Co., Ltd.to the Group’s carrying amount in € m. Dec 31, 2021¹ Dec 31, 2020² Net assets of the equity method investee 1,024 867 Group's ownership percentage on the investee's equity 30 % 30 % Group's share of net assets 307 260 Goodwill 17 16 Intangible Assets 15 14 Other adjustments 1 0 Carrying amount 3 341 290 1 December 2021 numbers are based on 2021 unaudited financials. 2 December 2020 numbers are based on 2020 audited financials. 3 There is no impairment loss in 2021 ( € 0 million |
Information on the Groups Share in Associates and Joint Ventures individually immaterial [text block table] | Aggregated financial information on the Group’s share in associates and joint ventures that are individually immaterial in € m. Dec 31, 2021 Dec 31, 2020 Carrying amount of all associates that are individually immaterial to the Group 532 337 Aggregated amount of the Group's share of profit (loss) from continuing operations 87 20 Aggregated amount of the Group's share of post-tax profit (loss) from discontinued operations 0 0 Aggregated amount of the Group's share of other comprehensive income (6) (10) Aggregated amount of the Group's share of total comprehensive income 81 10 |
Offsetting Financial Assets a_2
Offsetting Financial Assets and Financial Liabilities (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Offsetting Financial Assets and Financial Liabilities [Abstract] | |
Offsetting [text block table] | Assets Dec 31, 2021 Amounts not set off on the balance sheet in € m. Gross Gross Net Impact of Cash Financial Net amount Central bank funds sold and securities purchased 14,449 (8,532) 5,917 0 0 (5,667) 251 Central bank funds sold and securities purchased 2,451 0 2,451 0 0 (2,403) 48 Securities borrowed (enforceable) 63 0 63 0 0 (63) 0 Securities borrowed (non-enforceable) 0 0 0 0 0 0 0 Financial assets at fair value through profit or loss (enforceable) 471,208 (117,093) 354,116 (240,588) (33,953) (71,766) 7,809 Of which: Positive market values from derivative financial instruments (enforceable) 296,606 (12,044) 284,562 (238,412) (33,950) (4,516) 7,685 Financial assets at fair value through profit or loss (non-enforceable) 137,118 0 137,118 0 (2,026) (12,124) 122,968 Of which: Positive market values from derivative financial instruments (non-enforceable) 15,170 0 15,170 0 (1,963) (1,263) 11,944 Total financial assets at fair value through profit 608,326 (117,093) 491,233 (240,588) (35,978) (83,890) 130,777 Loans at amortized cost 472,069 0 472,069 0 (12,271) (60,794) 399,004 Other assets 109,097 (5,313) 103,784 (30,639) (101) (63) 72,981 Of which: Positive market values from derivatives qualifying for hedge accounting (enforceable) 1,126 (21) 1,105 (881) (101) (63) 60 Remaining assets subject to netting 1,231 0 1,231 0 0 0 1,231 Remaining assets not subject to netting 247,956 0 247,956 0 (141) (2,320) 245,495 Total assets 1,455,642 (130,937) 1,324,705 (271,227) (48,492) (155,200) 849,786 1 Excludes real estate and other non-financial instrument collateral. Liabilities Dec 31, 2021 Amounts not set off on the balance sheet in € m. Gross Gross Net Impact of Cash Financial Net amount Deposits 604,396 0 604,396 0 0 0 604,396 Central bank funds purchased and securities sold 9,275 (8,532) 743 0 0 (743) 0 Central bank funds purchased and securities sold 4 0 4 0 0 0 4 Securities loaned (enforceable) 22 0 22 0 0 (22) 0 Securities loaned (non-enforceable) 2 0 2 0 0 (2) 0 Financial liabilities at fair value through profit or loss (enforceable) 497,741 (117,796) 379,945 (240,381) (27,607) (50,690) 61,267 Of which: Negative market values from derivative financial instruments (enforceable) 289,380 (13,246) 276,134 (237,915) (27,607) (4,063) 6,549 Financial liabilities at fair value through profit or loss (non-enforceable) 20,913 0 20,913 0 (1,261) (4,658) 14,994 Of which: Negative market values from derivative financial instruments (non-enforceable) 10,975 0 10,975 0 (1,261) (157) 9,556 Total financial liabilities at fair value through profit 518,653 (117,796) 400,857 (240,381) (28,868) (55,347) 76,261 Other liabilities 102,405 (4,609) 97,795 (38,677) (49) (2) 59,067 Of which: Negative market values from derivatives qualifying for hedge accounting (enforceable) 1,479 (13) 1,466 (1,378) (49) (2) 37 Remaining liabilities not subject to netting 152,786 0 152,786 0 0 0 152,786 Total liabilities 1,387,544 (130,937) 1,256,606 (279,058) (28,918) (56,117) 892,514 Assets Dec 31, 2020 Amounts not set off on the balance sheet in € m. Gross Gross Net Impact of Cash Financial Net amount Central bank funds sold and securities purchased 8,234 (2,863) 5,371 0 0 (5,319) 53 Central bank funds sold and securities purchased 3,161 0 3,161 0 0 (2,855) 307 Securities borrowed (enforceable) 0 0 0 0 0 0 0 Securities borrowed (non-enforceable) 0 0 0 0 0 0 0 Financial assets at fair value through profit or loss (enforceable) 463,397 (84,554) 378,843 (263,518) (45,066) (58,410) 11,849 Of which: Positive market values from derivative financial instruments (enforceable) 336,976 (12,557) 324,419 (262,525) (45,048) (5,162) 11,684 Financial assets at fair value through profit or loss (non-enforceable) 149,137 0 149,137 0 (1,098) (12,790) 135,249 Of which: Positive market values from derivative financial instruments (non-enforceable) 19,074 0 19,074 0 (1,003) (1,116) 16,955 Total financial assets at fair value through profit 612,534 (84,554) 527,980 (263,518) (46,164) (71,200) 147,099 Loans at amortized cost 426,691 0 426,691 0 (12,129) (52,571) 361,991 Other assets 120,531 (10,170) 110,360 (43,277) (412) (90) 66,581 Of which: Positive market values from derivatives qualifying for hedge accounting (enforceable) 3,286 (21) 3,265 (2,607) (411) (90) 156 Remaining assets subject to netting 1,543 0 1,543 0 0 0 1,543 Remaining assets not subject to netting 249,854 0 249,854 0 (384) (2,768) 246,703 Total assets 1,422,549 (97,587) 1,324,961 (306,795) (59,089) (134,803) 824,275 1 Excludes real estate and other non-financial instrument collateral. Liabilities Dec 31, 2020 Amounts not set off on the balance sheet in € m. Gross Gross Net Impact of Cash Financial Net amount Deposits 567,745 0 567,745 0 0 0 567,745 Central bank funds purchased and securities sold 4,586 (2,263) 2,323 0 0 (2,323) 0 Central bank funds purchased and securities sold 3 0 3 0 0 (2) 1 Securities loaned (enforceable) 1,686 0 1,686 0 0 (1,686) 0 Securities loaned (non-enforceable) 11 0 11 0 0 (2) 9 Financial liabilities at fair value through profit or loss (enforceable) 480,029 (86,803) 393,226 (265,150) (34,846) (41,642) 51,589 Of which: Negative market values from derivative financial instruments (enforceable) 326,692 (14,715) 311,976 (264,042) (34,846) (5,816) 7,273 Financial liabilities at fair value through profit or loss (non-enforceable) 25,972 0 25,972 0 (1,875) (6,184) 17,914 Of which: Negative market values from derivative financial instruments (non-enforceable) 15,798 0 15,798 0 (1,875) (166) 13,757 Total financial liabilities at fair value through profit 506,002 (86,803) 419,199 (265,150) (36,721) (47,826) 69,502 Other liabilities 122,730 (8,521) 114,208 (49,534) (121) (6) 64,547 Of which: Negative market values from derivatives qualifying for hedge accounting (enforceable) 1,315 (36) 1,279 (1,090) (121) (6) 62 Remaining liabilities not subject to netting 157,602 0 157,602 0 (2) (1) 157,599 Total liabilities 1,360,364 (97,587) 1,262,777 (314,684) (36,844) (51,845) 859,403 |
Loans (Tables)
Loans (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Loans [Abstract] | |
Components of Loans by Industry Classification IFRS 9 [text block table] | in € m. Dec 31, 2021 Dec 31, 2020 Agriculture, forestry and fishing 647 637 Mining and quarrying 3,006 3,145 Manufacturing 36,820 28,040 Electricity, gas, steam and air conditioning supply 4,819 3,765 Water supply, sewerage, waste management and remediation activities 681 681 Construction 4,651 4,708 Wholesale and retail trade, repair of motor vehicles and motorcycles 22,444 22,023 Transport and storage 6,067 6,382 Accommodation and food service activities 2,272 2,514 Information and communication 7,387 6,240 Financial and insurance activities 111,239 90,220 Real estate activities 43,220 37,946 Professional, scientific and technical activities 7,022 7,946 Administrative and support service activities 10,324 9,568 Public administration and defense, compulsory social security 7,076 7,413 Education 225 205 Human health services and social work activities 4,005 3,530 Arts, entertainment and recreation 1,068 951 Other service activities 5,261 6,165 Activities of households as employers, undifferentiated goods- and services-producing activities of households for own use 213,186 205,028 Activities of extraterritorial organizations and bodies 1 1 Gross loans 491,421 447,107 (Deferred expense)/unearned income 227 394 Loans less (deferred expense)/unearned income 491,194 446,712 Less: Allowance for loan losses 4,779 4,823 Total loans 486,416 441,889 |
Allowance for Credit Losses (Ta
Allowance for Credit Losses (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Allowance for Credit Losses [Abstract] | |
Development of allowance for credit losses for financial assets at amortized cost [text block table] | Development of allowance for credit losses for financial assets at amortized cost Dec 31, 2021 Allowance for Credit Losses³ in € Stage 1 Stage 2 Stage 3 Stage 3 POCI⁴ Total Balance, beginning of year 544 648 3,614 139 4,946 Movements in financial assets including new business and credit extensions (245) 85 615 26 480 Transfers due to changes in creditworthiness 138 (197) 58 N/M 0 Changes due to modifications that did not result in N/M N/M N/M N/M N/M Changes in models 0 0 0 0 0 Financial assets that have been derecognized during the period² 0 0 (561) (5) (566) Recovery of written off amounts 0 0 55 23 78 Foreign exchange and other changes 3 (4) (41) (0) (43) Balance, end of reporting period 440 532 3,740 182 4,895 Provision for Credit Losses excluding country risk¹ (107) (112) 673 26 480 1 Movements in financial assets including new business, transfers due to changes in creditworthiness and changes in models add up to Provision for Credit Losses excluding country risk. 2 This position includes charge offs of allowance for credit losses. 3 Allowance for credit losses does not include allowance for country risk amounting to € 4 million 4 The total amount of undiscounted expected credit losses at initial recognition on financial assets that are purchased or originated credit-impaired initially recognized during the reporting period was € 0 million € 50 million Development of allowance for credit losses for financial assets at amortized cost Dec 31, 2020 Allowance for Credit Losses³ in € Stage 1 Stage 2 Stage 3 Stage 3 POCI⁴ Total Balance, beginning of year 549 492 3,015 36 4,093 Movements in financial assets including new business and credit extensions (44) 309 1,348 72 1,686 Transfers due to changes in creditworthiness 77 (125) 49 N/M 0 Changes due to modifications that did not result in N/M N/M N/M N/M N/M Changes in models 0 0 0 0 0 Financial assets that have been derecognized during the period² 0 0 (781) 0 (781) Recovery of written off amounts 0 0 58 0 58 Foreign exchange and other changes (38) (28) (75) 31 (110) Balance, end of reporting period 544 648 3,614 139 4,946 Provision for Credit Losses excluding country risk¹ 33 184 1,397 72 1,686 1 Movements in financial assets including new business, transfers due to changes in creditworthiness and changes in models add up to Provision for Credit Losses excluding country risk. 2 This position includes charge offs of allowance for credit losses. 3 Allowance for credit losses does not include allowance for country risk amounting to € 5 million 4 The total amount of undiscounted expected credit losses at initial recognition on financial assets that are purchased or originated credit-impaired initially recognized during the reporting period was € 50 million € 0 million Development of allowance for credit losses for financial assets at amortized cost Dec 31, 2019 Allowance for Credit Losses³ in € Stage 1 Stage 2 Stage 3 Stage 3 POCI⁴ Total Balance, beginning of year 509 501 3,247 3 4,259 Movements in financial assets including new business and credit extensions (57) 102 550 40 636 Transfers due to changes in creditworthiness 120 (106) (14) 0 Changes due to modifications that did not result in N/M N/M N/M N/M N/M Changes in models 0 0 0 0 0 Financial assets that have been derecognized during the period² 0 0 (872) (26) (898) Recovery of written off amounts 0 0 96 0 96 Foreign exchange and other changes (22) (4) 8 18 0 Balance, end of reporting period 549 492 3,015 36 4,093 Provision for Credit Losses excluding country risk¹ 62 (4) 536 40 636 1 Movements in financial assets including new business, transfers due to changes in creditworthiness and changes in models add up to Provision for Credit Losses excluding country risk. 2 This position includes charge offs of allowance for credit losses. 3 Allowance for credit losses does not include allowance for country risk amounting to € 3 million 4 The total amount of undiscounted expected credit losses at initial recognition on financial assets that are purchased or originated credit-impaired initially recognized during the reporting period was € 0 million |
Allowance for credit losses for financial assets at fair value through OCI [text block table] | Allowance for credit losses for financial assets at fair value through OCI 1 Dec 31, 2021 Allowance for Credit Losses in € m. Stage 1 Stage 2 Stage 3 Stage 3 POCI Total Fair Value through OCI 15 10 16 0 41 1 € 20 million € 41 million Dec 31, 2020 Allowance for Credit Losses in € m. Stage 1 Stage 2 Stage 3 Stage 3 POCI Total Fair Value through OCI 12 6 2 0 20 1 € 35 million € 20 million Dec 31, 2019 Allowance for Credit Losses in € m. Stage 1 Stage 2 Stage 3 Stage 3 POCI Total Fair Value through OCI 16 9 10 0 35 1 € 13 million 2019 € 35 million |
Development of allowance for credit losses for Off-balance sheet positions [text block table] | Development of allowance for credit losses for off-balance sheet positions Dec 31, 2021 Allowance for Credit Losses 2 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 (43) 38 18 0 13 Transfers due to changes in creditworthiness 3 (5) 2 0 0 Changes in models 0 0 0 0 0 Foreign exchange and other changes 3 3 6 0 12 Balance, end of reporting period 108 111 225 0 443 of which: Financial guarantees 69 64 164 0 297 Provision for Credit Losses excluding country risk 1 (40) 33 19 0 13 1 The above table breaks down the impact on provision for credit losses from movements in financial assets including new business, transfers due to changes in creditworthiness and changes in models. 2 Allowance for credit losses does not include allowance for country risk amounting to € 6 million Development of allowance for credit losses for off-balance sheet positions Dec 31, 2020 Allowance for Credit Losses 2 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 13 21 41 0 75 Transfers due to changes in creditworthiness 0 0 (1) 0 0 Changes in models 0 0 0 0 0 Foreign exchange and other changes 3 4 (6) 0 1 Balance, end of reporting period 144 74 200 0 419 of which: Financial guarantees 99 43 115 0 257 Provision for Credit Losses excluding country risk 1 13 22 40 0 75 1 The above table breaks down the impact on provision for credit losses from movements in financial assets including new business, transfers due to changes in creditworthiness and changes in models. 2 Allowance for credit losses does not include allowance for country risk amounting to € 4 million Development of allowance for credit losses for off-balance sheet positions Dec 31, 2019 Allowance for Credit Losses 2 in € m. Stage 1 Stage 2 Stage 3 Stage 3 POCI Total Balance, beginning of year 132 73 84 0 289 Movements including new business (13) (5) 88 0 70 Transfers due to changes in creditworthiness 9 (12) 3 0 0 Changes in models 0 0 0 0 0 Foreign exchange and other changes (1) (7) (9) 0 (17) Balance, end of reporting period 128 48 166 0 342 of which: Financial guarantees 89 30 143 0 262 Provision for Credit Losses excluding country risk 1 (4) (17) 90 0 70 1 The above table breaks down the impact on provision for credit losses from movements in financial assets including new business, transfers due to changes in creditworthiness and changes in models. 2 Allowance for credit losses does not include allowance for country risk amounting to € 4 million |
Transfers of Financial Assets a
Transfers of Financial Assets and Assets Pledged and Received as Collateral (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Assets Pledged and Received as Collateral [Abstract] | |
Information on the Asset Types and the Associated Transactions [text block table] | Information on asset types and associated transactions that did not qualify for derecognition in € m. Dec 31, 2021 Dec 31, 2020 Carrying amount of transferred assets Trading securities not derecognized due to the following transactions: Repurchase agreements 44,898 40,654 Securities lending agreements 5,444 8,951 Total return swaps 1,766 1,319 Other 4,028 5,028 Total trading securities 56,136 55,953 Other trading assets 244 215 2 Non-trading financial assets mandatory at fair value through profit or loss 760 666 Financial assets at fair value through other comprehensive income 5,642 5,951 Loans at amortized cost 1 13 210 Others 481 72 Total 63,276 63,066 2 Carrying amount of associated liabilities 57,522 53,348 ¹ Loans where the associated liability is recourse only to the transferred assets had NIL carrying value and fair value as at December 31, 2021 and December 31, 2020. The associated liabilities had the same carrying value and fair value which resulted in a net position of 0 2 Prior year numbers have been restated following the reassessment of one trade. |
Continuing Involvement Accounting [text block table] | Carrying value of assets transferred in which the Group still accounts for the asset to the extent of its continuing involvement in € m. Dec 31, 2021 Dec 31, 2020 Carrying amount of the original assets transferred Trading securities 1,050 1,039 Financial assets designated at fair value through profit or loss 0 0 Non-trading financial assets mandatory at fair value through profit or loss 308 673 Carrying amount of the assets continued to be recognized Trading securities 61 64 1 Financial assets designated at fair value through profit or loss 0 0 Non-trading financial assets mandatory at fair value through profit or loss 15 17 Carrying amount of associated liabilities 102 122 1 ¹ Prior year numbers have been restated following the reassessment of one trade |
Transferred Assets with on-going Involvement - Table I [text block table] | The impact on the Group’s Balance Sheet of on-going involvement associated with transferred assets derecognized in full Dec 31,2021 Dec 31,2020 in € m. Carrying Fair value Maximum Carrying Fair value Maximum Loans at amortized cost Securitization notes 283 302 302 254 271 271 Other 0 0 0 7 7 7 Total loans at amortized cost 283 302 302 261 279 279 Financial assets held at fair value through profit or loss Securitization notes 29 29 29 28 28 28 Non-standard Interest Rate, cross-currency or inflation-linked swap 465 465 465 0 0 0 Total financial assets held at fair value through profit or loss 494 494 494 28 28 28 Financial assets at fair value through other comprehensive income: Securitization notes 709 713 713 624 645 645 Other 0 0 0 0 0 0 Total financial assets at fair value through other comprehensive income 709 713 713 624 645 645 Total financial assets representing on-going involvement 1,486 1,509 1,509 913 951 951 Financial liabilities held at fair value through profit or loss Non-standard Interest Rate, cross-currency or inflation-linked swap 8 8 0 11 11 0 Total financial liabilities representing on-going involvement 8 8 0 11 11 0 1 The maximum exposure to loss is defined as the carrying value plus the notional value of any undrawn loan commitments not recognized as liabilities. |
Transferred Assets with on-going Involvement - Table II [text block table] | The impact on the Group’s Statement of Income of on-going involvement associated with transferred assets derecognized in full Dec 31,2021 Dec 31,2020 in € m. Year-to- Cumulative Gain/(loss) Year-to- Cumulative Gain/(loss) Securitization notes 31 81 48 22 49 99 Non-standard Interest Rate, cross-currency or 41 41 0 (1) (1) 0 Net gains/(losses) recognized from on-going 72 123 48 21 48 99 |
Carrying Value of the Assets Pledged as Collateral [text block table] | Carrying value of the Group’s assets pledged as collateral for liabilities or contingent liabilities 1 in € m. Dec 31, 2021 Dec 31, 2020 Financial assets at fair value through profit or loss 51,165 47,553 Financial assets at fair value through other comprehensive income 6,395 7,858 Loans 79,485 77,433 Other 611 1,257 Total 137,656 134,101 1 Excludes assets pledged as collateral from transactions that do not result in liabilities or contingent liabilities. |
Total assets pledged to creditors [text block table] | Total assets pledged to creditors available for sale or repledge 1 in € m. Dec 31, 2021 Dec 31, 2020 Financial assets at fair value through profit or loss 48,426 44,210 Financial assets at fair value through other comprehensive income 5,252 4,911 Loans 2,073 2,232 Other 481 72 Total 56,233 51,426 1 Includes assets pledged as collateral from transactions that do not result in liabilities or contingent liabilities. |
Collateral Received [text block table] | Fair Value of collateral received in € m. Dec 31, 2021 Dec 31, 2020 Securities and other financial assets accepted as collateral 260,003 237,157 Of which: Collateral sold or repledged 222,232 199,346 |
Property and Equipment (Tables)
Property and Equipment (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Property and Equipment [Abstract] | |
Property and Equipment [text block table] | in € m. Owner occupied properties Furniture and equipment Leasehold improvements Construction-in-progress Property and equipment owned (IAS 16) Right-of-use for leased assets (IFRS 16) Total Cost of acquisition: Balance as of January 1, 2020 656 2,380 2,961 155 6,153 3,533 9,686 Changes in the group of consolidated companies 0 (1) 0 0 (1) (1) (3) Additions 2 128 47 335 512 1,806 2,317 Transfers 8 173 43 (97) 127 (388) (261) Reclassifications (to)/from “held for sale” (73) (65) 0 (1) (139) (0) (139) Disposals 2 223 96 0 321 41 362 Exchange rate changes (4) (50) (58) (5) (117) (64) (181) Balance as of December 31, 2020 587 2,343 2,897 387 6,214 4,844 11,058 Changes in the group of consolidated companies (1) 0 0 0 (1) 0 (1) Additions 0 113 46 391 550 254 804 Transfers 58 (8) 354 (321) 83 367 451 Reclassifications (to)/from “held for sale” (131) (16) (94) (1) (241) 0 (241) Disposals 0 187 146 79 412 165 578 Exchange rate changes 1 38 45 21 105 139 244 Balance as of December 31, 2021 514 2,283 3,102 398 6,297 5,439 11,737 Accumulated depreciation and impairment: Balance as of January 1, 2020 325 1,841 1,927 0 4,093 663 4,756 Changes in the group of consolidated companies 0 (1) 0 0 (1) 0 (1) Depreciation 16 171 187 0 373 648 1,021 Impairment losses 5 2 8 0 16 77 93 Reversals of impairment losses 3 0 0 0 3 10 12 Transfers 2 145 2 0 149 5 153 Reclassifications (to)/from “held for sale” (25) (53) 0 0 (78) 0 (78) Disposals 1 206 89 0 296 11 307 Exchange rate changes (3) (42) (45) 0 (90) (24) (114) Balance as of December 31, 2020 317 1,856 1,989 0 4,163 1,347 5,510 Changes in the group of consolidated companies (1) 0 0 0 (1) 0 (1) Depreciation 16 140 204 0 360 631 991 Impairment losses 12 7 39 1 59 99 158 Reversals of impairment losses 0 0 0 0 0 18 18 Transfers 57 16 10 0 84 2 85 Reclassifications (to)/from “held for sale” (115) (15) (62) 0 (191) 0 (191) Disposals 0 178 125 0 303 133 436 Exchange rate changes 1 34 39 0 74 29 103 Balance as of December 31, 2021 288 1,860 2,095 1 4,244 1,957 6,201 Carrying amount: Balance as of December 31, 2020 270 487 908 387 2,051 3,497 5,549 Balance as of December 31, 2021 226 423 1,007 398 2,054 3,482 5,536 |
Leases (Tables)
Leases (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Leases [Abstract] | |
Future cash outflows to which the Group is potentially exposed that are not reflected in the measurement of lease liabilities [Text Block Table] | Future cash outflows to which the Group is potentially exposed that are not reflected in the measurement of lease liabilities Dec 31, 2021 Dec 31, 2020 Future cash outflows not reflected in lease liabilities: Not later than one year 10 50 Later than one year and not later than five years 539 791 Later than five years 5,849 5,097 Future cash outflows not reflected in lease liabilities 6,398 5,938 |
Goodwill and Other Intangible_2
Goodwill and Other Intangible Assets (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Goodwill and Other Intangible Assets [Abstract] | |
Primary Cash-Generating Units [text block table] | Goodwill allocated to cash-generating units in € m. Investment Bank Corporate Bank Asset Private Bank Total Balance as of January 1, 2020 0 0 2,881 0 2,881 Goodwill acquired during the year 0 0 0 0 0 Purchase accounting adjustments 0 0 0 0 0 Transfers 0 0 0 0 0 Reclassification from (to) “held for sale” 0 0 0 0 0 Goodwill related to dispositions without being classified as “held for sale” 0 0 0 0 0 Impairment losses 1 0 0 0 0 0 Exchange rate changes/other 0 0 (142) 0 (142) Balance as of December 31, 2020 0 0 2,739 0 2,739 Gross amount of goodwill 3,608 569 3,197 3,698 11,073 Accumulated impairment losses (3,608) (569) (458) (3,698) (8,334) Balance as of January 1, 2021 0 0 2,739 0 2,739 Goodwill acquired during the year 0 5 0 0 5 Purchase accounting adjustments 0 0 0 0 0 Transfers 0 0 0 0 0 Reclassification from (to) “held for sale” 0 0 (56) 0 (56) Goodwill related to dispositions without being classified as “held for sale” 0 0 0 0 0 Impairment losses 1 0 (5) 0 0 (5) Exchange rate changes/other 0 0 123 0 123 Balance as of December 31, 2021 0 0 2,806 0 2,806 Gross amount of goodwill 3,854 602 3,295 3,716 11,467 Accumulated impairment losses (3,854) (602) (489) (3,716) (8,662) 1 Impairment losses of goodwill are recorded as impairment of goodwill and other intangible assets in the income statement. |
Change in certain key assumptions to cause the recoverable amount to equal the carrying amount [Text Block Table] | Change in certain key assumptions to cause the recoverable amount to equal the carrying amount AM Discount rate (post tax) increase from 9.1 % to 11.3 % Change in projected future earnings in each period by 21.1 % Long term growth rate N/M |
Changes of Other Intangible Assets by Asset Class [text block table] | Changes of other intangible assets by asset classes for the years ended December 31, 2021 and December 31, 2020 Purchased intangible assets Internally Total other Unamortized Amortized Amortized in € m. Retail Other Total Customer- Contract- Software Total Software Cost of acquisition/ Balance as of 1,030 442 1,472 1,403 70 625 2,098 7,512 11,082 Additions 0 0 0 5 0 138 143 911 1,054 Changes in the group of 0 0 0 0 0 0 0 0 0 Disposals 0 0 0 0 0 5 5 390 394 Reclassifications from 0 0 0 0 0 (37) (37) (9) (46) Transfers 0 0 0 0 0 60 60 21 81 Exchange rate changes (85) (1) (86) (53) 0 (2) (55) (136) (277) Balance as of 945 441 1,386 1,356 70 778 2,204 7,910 11,499 Additions 0 0 0 13 0 22 35 1,106 1,141 Changes in the group of 0 0 0 0 0 0 0 5 4 Disposals 0 0 0 0 0 12 12 86 98 Reclassifications from 0 0 0 0 0 0 0 (40) (40) Transfers 0 0 0 (5) 0 0 (5) (1) (6) Exchange rate changes 71 1 72 34 0 1 35 125 231 Balance as of 1,017 440 1,457 1,398 70 789 2,257 9,018 12,732 Accumulated amortization Balance as of 260 440 700 1,384 70 528 1,982 4,254 6,935 Amortization for the year 0 0 0 8 0 37 45 994 1,040 1 Changes in the group of 0 0 0 0 0 0 0 0 0 Disposals 0 0 0 0 0 3 3 385 388 Reclassifications from 0 0 0 0 0 (33) (33) (8) (41) Impairment losses 0 0 0 0 0 0 0 50 51 2 Reversals of impairment 0 0 0 0 0 0 0 2 2 3 Transfers 0 0 0 0 0 106 106 (22) 84 Exchange rate changes (22) 0 (22) (52) 0 (2) (54) (88) (165) Balance as of 239 439 678 1,340 70 633 2,043 4,793 7,513 Amortization for the year 0 0 0 6 0 37 43 974 1,017 4 Changes in the group of 0 0 0 0 0 0 0 0 (1) Disposals 0 0 0 0 0 12 12 85 97 Reclassifications from 0 0 0 0 0 0 0 (9) (9) Impairment losses 0 0 0 3 0 0 3 149 152 5 Reversals of impairment 0 0 0 0 0 0 0 0 0 Transfers 0 0 0 0 0 3 3 0 2 Exchange rate changes 18 0 18 34 0 1 35 83 136 Balance as of 257 439 696 1,383 70 662 2,115 5,904 8,714 Carrying amount: As of December 31, 2020 706 2 708 16 0 145 161 3,117 3,986 As of December 31, 2021 760 1 761 15 0 128 143 3,114 4,018 1 € 1.0 billion 2 € 51 million 3 € 2 million 4 € 1.0 billion 5 € 152 million € 149 million € 3 million |
Useful Lives of Other Amortized Intangible Assets by Asset Class [text block table] | Useful lives of other amortized intangible assets by asset class Useful lives Internally generated intangible assets: Software up to 10 Purchased intangible assets: Customer-related intangible assets up to 20 Other up to 10 |
Non-Current Assets and Dispos_2
Non-Current Assets and Disposal Groups Held for Sale (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Components of Other Non-Current Assets and Disposal Groups Held for Sale [Abstract] | |
Components of Other Non-Current Assets and Disposal Groups Held for Sale [text block table] | in € m. Dec 31, 2021 Dec 31, 2020 Cash and bank balances 6 0 Financial assets at fair value through profit or loss 0 6,086 Property and equipment 9 11 Goodwill and other intangible assets 88 0 Other assets 296 0 Total assets classified as held for sale 398 6,097 Financial liabilities at fair value through profit or loss 0 2,000 Other liabilities 252 7,850 Total liabilities classified as held for sale 252 9,850 |
Other Assets and Other Liabil_2
Other Assets and Other Liabilities (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Other Assets and Other Liabilities [Abstract] | |
Components of Other Assets/Liabilities [text block table] | in € m. Dec 31, 2021 Dec 31, 2020 Brokerage and securities related receivables Cash/margin receivables 48,675 58,714 Receivables from prime brokerage 5 41 Pending securities transactions past settlement date 3,579 2,752 Receivables from unsettled regular way trades 19,236 13,057 Total brokerage and securities related receivables 71,495 74,564 Debt Securities held to collect 14,800 12,587 Accrued interest receivable 2,084 1,656 Assets held for sale 398 6,097 Other 15,007 15,456 Total other assets 103,784 110,360 in € m. Dec 31, 2021 Dec 31, 2020 Brokerage and securities related payables Cash/margin payables 52,875 66,259 Payables from prime brokerage 583 271 Pending securities transactions past settlement date 1,549 1,612 Payables from unsettled regular way trades 15,158 11,668 Total brokerage and securities related payables 70,165 79,810 Accrued interest payable 1,625 1,740 Liabilities held for sale 252 9,850 Lease liabilities 3,965 3,974 Other 21,788 18,834 Total other liabilities 97,795 114,208 |
Deposits (Tables)
Deposits (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Deposits [Abstract] | |
Components of Deposits [text block table] | in € m. Dec 31, 2021 Dec 31, 2020 Noninterest-bearing demand deposits 226,091 220,501 Interest-bearing deposits Demand deposits 167,807 154,704 Time deposits 122,478 106,551 Savings deposits 88,021 85,989 Total interest-bearing deposits 378,306 347,244 Total deposits 604,396 567,745 |
Provisions (Tables)
Provisions (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Provisions [Abstract] | |
Movements by Class of Provision [text block table] | Movements by Class of Provisions in € m. Operational Civil Regulatory Re- Other Total 1 Balance as of January 1, 2020 119 544 543 684 384 2,276 Changes in the group of consolidated companies 0 0 (0) (0) (3) (4) New provisions 20 107 183 553 505 1,368 Amounts used 11 182 165 641 401 1,400 Unused amounts reversed 39 106 27 105 84 361 Effects from exchange rate fluctuations/Unwind of discount 0 (9) (41) 4 (15) (60) Transfers (0) 0 (1) 181 8 189 Balance as of December 31, 2020 89 355 492 676 396 2,007 Changes in the group of consolidated companies 0 0 0 0 2 2 New provisions 62 475 110 302 641 1,590 Amounts used 2 112 113 339 470 1,036 Unused amounts reversed 106 78 40 58 151 434 Effects from exchange rate fluctuations/Unwind of discount 0 6 26 1 7 40 Transfers (0) (1) 0 (0) 24 22 Balance as of December 31, 2021 42 644 475 582 448 2,192 1 For the remaining portion of provisions as disclosed on the consolidated balance sheet, please see Note 19 “Allowance for Credit Losses”, in which allowances for credit related off-balance sheet positions are disclosed. |
Credit related Commitments an_2
Credit related Commitments and Contingent Liabilities (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Credit related Commitments and Contingent Liabilities [Abstract] | |
Irrevocable lending commitments and lending related contingent liabilities [text block table] | Irrevocable lending commitments and lending related contingent liabilities in € m. Dec 31, 2021 Dec 31, 2020 Irrevocable lending commitments 177,334 165,643 Revocable lending commitments 49,798 50,233 Contingent liabilities 59,394 47,978 Total 286,525 263,854 |
Other Commitments and Contingent Liabilities [text block table] | Other commitments and other contingent liabilities in € m. Dec 31, 2021 Dec 31, 2020 Other commitments 163 144 Other contingent liabilities 77 73 Total 240 217 |
Other Short-Term Borrowings (Ta
Other Short-Term Borrowings (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Other Short-Term Borrowings [Abstract] | |
Components of Other Short-Term Borrowings [text block table] | in € m. Dec 31, 2021 Dec 31, 2020 Other short-term borrowings: Commercial paper 1,840 1,748 Other 2,194 1,804 Total other short-term borrowings 4,034 3,553 |
Long-Term Debt and Trust Pref_2
Long-Term Debt and Trust Preferred Securities (Table) | 12 Months Ended |
Dec. 31, 2021 | |
Long-Term Debt and Trust Preferred Securities [Abstract] | |
Long-Term Debt by Contractual Maturity [text block table] | Long-Term Debt by Earliest Contractual Maturity in € m. Due in Due in Due in Due in Due in Due after Total Total Senior debt: Bonds and notes: Fixed rate 9,053 11,529 10,179 5,791 9,986 16,909 63,446 66,402 1 Floating rate 3,134 1,373 2,327 3,243 3,234 4,871 18,182 26,990 1 Other 37,217 3,597 6,853 791 752 4,749 53,960 48,103 Subordinated debt: Bonds and notes: Fixed rate 14 33 74 2,623 1,967 2,479 7,191 6,049 Floating rate 0 1,197 21 194 0 0 1,412 1,303 Other 15 103 88 0 42 46 293 316 Total long-term debt 49,434 17,832 19,542 12,643 15,980 29,054 144,485 149,163 1 Prior years' comparatives aligned to presentation in the current year. |
Fixed and Floating Rate Trust Preferred Securities [text block table] | Trust Preferred Securities 1 in € m. Dec 31, 2021 Dec 31, 2020 Fixed rate 0 269 Floating rate 528 1,052 Total trust preferred securities 528 1,321 1 Perpetual instruments, redeemable at specific future dates at the Group’s option. |
Maturity Analysis of the earlie
Maturity Analysis of the earliest contractual undiscounted cash flows of Financial Liabilities (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Maturity Analysis of the earliest contractual undiscounted cash flows of Financial Liabilities [Abstract] | |
Maturity Analysis of Financial Liabilities (IFRS) [text block table] | Dec 31, 2021 in € m. On demand Due within Due between Due between Due after Noninterest bearing deposits 226,091 0 0 0 0 Interest bearing deposits 169,144 118,909 71,020 12,195 10,015 Trading liabilities 1 54,676 0 0 0 0 Negative market values from derivative financial 1 287,109 0 0 0 0 Financial liabilities designated at fair value 30,911 7,582 16,764 2,249 2,438 Investment contract liabilities 2 0 0 562 0 0 Negative market values from derivative financial 3 0 678 423 286 79 Central bank funds purchased 0 0 0 0 0 Securities sold under repurchase agreements 227 33 40 448 8 Securities loaned 24 0 0 0 0 Other short-term borrowings 2,676 953 607 0 0 Long-term debt 0 36,692 14,770 71,239 31,449 Trust preferred securities 0 0 529 0 0 Lease liabilities 37 142 503 1,750 2,082 Other financial liabilities 78,311 3,225 337 456 12 Off-balance sheet loan commitments 175,114 0 0 0 0 Financial guarantees 24,024 0 0 0 0 Total 4 1,048,344 168,213 105,556 88,623 46,083 1 Trading liabilities and derivatives not qualifying for hedge accounting balances are recorded at fair value. The Group believes that this best represents the cash flow that would have to be paid if these positions had to be closed out. Trading liabilities and derivatives not qualifying for hedge accounting balances are shown within “on demand” which Group’s management believes most accurately reflects the short-term nature of trading activities. The contractual maturity of the instruments may however extend over significantly longer periods. 2 These are investment contracts where the policy terms and conditions result in their redemption value equaling fair value. 3 Derivatives designated for hedge accounting are recorded at fair value and are shown in the time bucket at which the hedged relationship is expected to terminate. 4 The balances in the table do not agree to the numbers in the Group’s balance sheet as the cash flows included in the table are undiscounted. This analysis represents the worst case scenario for the Group if the Group was required to repay all liabilities earlier than expected. The Group believes that the likelihood of such an event occurring is remote. Dec 31, 2020 in € m. On demand Due within Due between Due between Due after Noninterest bearing deposits 220,501 0 0 0 0 Interest bearing deposits 154,777 105,566 64,729 13,815 10,230 Trading liabilities 1 44,289 0 0 0 0 Negative market values from derivative financial 1 327,775 0 0 0 0 Financial liabilities designated at fair value 23,692 16,204 3,451 2,127 2,095 Investment contract liabilities 2 0 0 526 0 0 Negative market values from derivative financial 3 0 354 66 319 541 Central bank funds purchased 0 0 0 0 0 Securities sold under repurchase agreements 1,815 17 0 504 1 Securities loaned 1,697 0 0 0 0 Other short-term borrowings 1,385 919 1,530 0 0 Long-term debt 1 14,430 48,164 68,130 31,637 Trust preferred securities 0 0 1,345 0 0 Lease liabilities 49 128 522 1,804 2,064 Other financial liabilities 86,618 2,565 225 501 16 Off-balance sheet loan commitments 164,843 0 0 0 0 Financial guarantees 20,337 0 0 0 0 Total 4 1,047,779 140,182 120,556 87,200 46,584 1 Trading liabilities and derivatives not qualifying for hedge accounting balances are recorded at fair value. The Group believes that this best represents the cash flow that would have to be paid if these positions had to be closed out. Trading liabilities and derivatives not qualifying for hedge accounting balances are shown within “on demand” which Group’s management believes most accurately reflects the short-term nature of trading activities. The contractual maturity of the instruments may however extend over significantly longer periods. 2 These are investment contracts where the policy terms and conditions result in their redemption value equaling fair value. 3 Derivatives designated for hedge accounting are recorded at fair value and are shown in the time bucket at which the hedged relationship is expected to terminate. 4 The balances in the table do not agree to the numbers in the Group’s balance sheet as the cash flows included in the table are undiscounted. This analysis represents the worst case scenario for the Group if the Group was required to repay all liabilities earlier than expected. The Group believes that the likelihood of such an event occurring is remote. |
Common Shares (Tables)
Common Shares (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Common Shares [Abstract] | |
Common Shares [text block table] | Number of shares Issued and Treasury shares Outstanding Common shares, January 1, 2020 2,066,773,131 (671,357) 2,066,101,774 Shares issued under share-based compensation plans 0 0 0 Capital increase 0 0 0 Shares purchased for treasury 0 (35,058,705) (35,058,705) Shares sold or distributed from treasury 0 34,383,896 34,383,896 Common shares, December 31, 2020 2,066,773,131 (1,346,166) 2,065,426,965 Shares issued under share-based compensation plans 0 0 0 Capital increase 0 0 0 Shares purchased for treasury 0 (35,979,884) (35,979,884) Shares sold or distributed from treasury 0 36,647,102 36,647,102 Common shares, December 31, 2021 2,066,773,131 (678,948) 2,066,094,183 |
Dividends [text block table] | 2021 2020 2019 Cash dividends declared (in € ) 413,000,000 0 0 Cash dividends declared per common share (in €) 0.20 0.00 0.00 |
Employee Benefits (Tables)
Employee Benefits (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Employee Benefits [Abstract] | |
Basic Terms of Share Plans [text block table] | The following table sets forth the basic terms of these share plans: Grant year(s) Deutsche Bank Equity Plan Vesting schedule Eligibility 2019-2021 Annual Award 1/4: 12 months 1 Select employees as 1/4: 24 months 1 annual performance-based 1/4: 36 months 1 compensation 1/4: 48 months 1 (CB/IB/CRU and InstVV MRTs in an MBU) 2 Annual Award 1/3: 12 months 1 Select employees as 1/3: 24 months 1 annual performance-based 1/3: 36 months 1 compensation (non-CB/IB/CRU) 2 Annual Award 1/5: 12 months 1 Select employees as 1/5: 24 months 1 annual performance-based 1/5: 36 months 1 compensation (Senior Management) 1/5: 48 months 1 1/5: 60 months 1 Retention/New Hire Individual specification Select employees to attract and Annual Award – Upfront Vesting immediately at grant 3 Regulated employees 2017 -2018 Annual Award 1/4: 12 months 1 Select employees as 1/4: 24 months 1 annual performance-based 1/4: 36 months 1 compensation 1/4: 48 months 1 Or cliff vesting after 54 months 1 Members of Senior Leadership Cadre Retention/New Hire Individual specification Select employees to attract and retain the best talent Key Retention Plan (KRP) 4 1/2: 50 months 3 Material Risk Takers (MRTs) 1/2: 62 months 3 Cliff vesting after 43 months Non-Material Risk Takers (non-MRTs) 2016 Key Position Award (KPA) 5 Cliff-vesting after 4 years 3 Select employees as annual retention 1 2 3 4 5 |
Movements in share award units [text block table] | Share units (in thousands) 2021 2020¹ Balance outstanding as of January 01 119,206 169,590 Granted 50,554 45,269 Released (43,206) (32,693) Forfeited (4,537) (62,518) Other movements (200) (441) Balance outstanding as of December 31 121,818 119,206 1 |
Awards Granted Released and Remaining [text block table] | The following table sets out key information regarding awards granted, released and remaining in the year. 2021 2020 Weighted average fair value per award granted in year Weighted average share price at release in year Weighted average remaining contractual life in years Weighted average fair value per award granted in the year Weighted average share price at release in year Weighted average remaining contractual life in years DB Equity Plan € 9.25 € 10.58 2 € 7.20 € 7.79 2 |
DWS Share Awards [text block table] | The following table sets out the movements in share award units. DWS Equity Plan DWS SAR Plan 2021 2020 2021 2020 Share units (in thousands) Number of Awards Number of Awards Number of Awards Weighted-average exercise price Number of Awards Weighted-average exercise price Outstanding at beginning of year 2,418 2,040 1,254 € 24.65 2,087 € 24.65 Granted 709 805 0 - 0 - Issued or Exercised (583) (368) (256) € 24.65 (766) € 24.65 Forfeited (110) (54) (14) € 24.65 (52) € 24.65 Expired 0 0 (36) € 24.65 0 - Other Movements (18) (6) 0 € 24.65 (14) € 24.65 Outstanding at end of year 2,415 2,418 948 € 24.65 1,254 € 24.65 Of which, exercisable 0 0 739 - 0 - |
DWS Awards Granted Released and Remaining [text block table] | The following table sets out key information regarding awards granted, released and remaining in the year. 2021 2020 Weighted average fair value per award granted in year Weighted average share price at release/ exercise in year Weighted average remaining contractual life in years Weighted average fair value per award granted in the year Weighted average share price at release/ exercise in year Weighted average remaining contractual life in years DWS Equity Plan € 30.44 € 37.24 2 € 29.07 € 34.88 2 DWS SAR Plan n/a € 39.59 4 n/a € 31.95 5 |
DWS Share based Plans [text block table] | Measurement date Measurement date Units (in thousands) 948 1,254 Fair value € 10.99 € 10.68 Share price € 35.48 € 34.80 Exercise price € 24.65 € 24.65 Expected volatility (weighted-average) 32% 33% Expected life (weighted-average) in years 4 5 Expected dividends (% of income) 65% 65% |
Breakdown of Benefit Obligation [text block table] | Dec 31, 2021 in € m. Germany UK U.S. Other Total Defined benefit obligation related to Active plan participants 4,626 632 243 635 6,136 Participants in deferred status 2,535 3,020 564 118 6,237 Participants in payment status 5,936 1,277 544 274 8,031 Total defined benefit obligation 13,097 4,929 1,351 1,027 20,404 Fair value of plan assets 12,642 6,019 1,148 1,079 20,888 Funding ratio (in %) 97 % 122 % 85 % 1 105 % 102 % 1 US Total defined benefit obligation is inclusive of the unfunded US Medicare Plan ( € 170 million 97 % Dec 31, 2020 in € m. Germany UK U.S. Other Total Defined benefit obligation related to Active plan participants 4,950 706 236 648 6,540 Participants in deferred status 2,639 2,876 561 111 6,187 Participants in payment status 5,943 1,335 530 272 8,080 Total defined benefit obligation 13,532 4,917 1,327 1,031 20,807 Fair value of plan assets 12,658 5,705 1,107 987 20,457 Funding ratio (in %) 94 % 116 % 83 % 1 96 % 98 % 1 US Total defined benefit obligation is inclusive of the unfunded US Medicare Plan ( € 168 million 96 % |
Benefits Expected to be paid by the Retirement Benefit Plans (Impact on Cashflows) [text block table] | in € m. Germany UK U.S. Other Total Actual benefit payments 2021 477 134 87 67 765 Benefits expected to be paid 2022 515 235 78 66 894 Benefits expected to be paid 2023 523 133 79 64 799 Benefits expected to be paid 2024 542 143 80 67 832 Benefits expected to be paid 2025 560 161 81 63 865 Benefits expected to be paid 2026 577 165 83 63 888 Benefits expected to be paid 2027 – 2031 3,119 961 410 323 4,813 Weighted average duration of defined benefit 14 20 11 12 15 |
Actuarial Assumptions [text block table] | Dec 31, 2021 Dec 31, 2020 Germany UK U.S. 1 Other Germany UK U.S. 1 Other Discount rate (in %) 1.10 % 1.86 % 2.73 % 1.92 % 0.60 % 1.26 % 2.31 % 1.51 % Rate of price inflation (in %) 2.19 % 3.73 % 2.30 % 1.88 % 1.29 % 3.22 % 2.10 % 1.54 % Rate of nominal increase in 2.42 % 4.23 % 2.40 % 2.69 % 1.79 % 3.72 % 2.20 % 2.57 % Rate of nominal increase for 2.10 % 3.49 % 2.30 % 1.05 % 1.19 % 3.08 % 2.10 % 0.86 % Assumed life expectancy For a male aged 65 21.3 23.5 21.9 22.0 21.2 23.5 21.8 22.0 For a female aged 65 23.5 25.1 23.3 24.0 23.5 25.0 23.2 24.2 For a male aged 45 22.6 24.6 23.3 23.4 22.5 24.5 23.2 23.3 For a female aged 45 24.6 26.5 24.7 25.4 24.6 26.4 24.5 25.6 Mortality tables applied Modified SAPS (S3) PRI-2012 Country Modified SAPS (S3) PRI-2012 Country 1 Cash balance interest crediting rate in line with the 30-year US government bond yield |
Reconciliation in Movement of Liabilities and Assets - Impact on Balance Sheet [text block table] | Reconciliation in Movement of Liabilities and Assets – Impact on Financial Statements 2021 in € m. Germany UK U.S. Other Total Change in the present value of the defined benefit obligation: Balance, beginning of year 13,532 4,917 1,327 1,031 20,807 Defined benefit cost recognized in Profit & Loss Current service cost 177 23 10 40 250 Interest cost 80 63 31 16 190 Past service cost and gain or loss arising from settlements 28 (15) 0 (1) 12 Defined benefit cost recognized in Other Comprehensive Income Actuarial gain or loss arising from changes in financial (319) (220) (50) (21) (610) Actuarial gain or loss arising from changes in demographic assumptions 0 (5) 3 (14) (16) Actuarial gain or loss arising from experience 75 (16) 20 1 80 Cash flow and other changes Contributions by plan participants 1 0 0 14 15 Benefits paid (477) (134) (87) (67) (765) Payments in respect to settlements 0 0 0 0 0 Acquisitions/Divestitures 0 0 0 0 0 Exchange rate changes 0 316 97 28 441 Other 0 0 0 0 0 Balance, end of year 13,097 4,929 1,351 1,027 20,404 thereof: Unfunded 0 14 197 90 301 Funded 13,097 4,915 1,154 937 20,103 Change in fair value of plan assets: Balance, beginning of year 12,658 5,705 1,107 987 20,457 Defined benefit cost recognized in Profit & Loss Interest income 76 74 26 14 190 Defined benefit cost recognized in Other Comprehensive Income Return from plan assets less interest income 243 5 7 46 301 Cash flow and other changes Contributions by plan participants 1 0 0 14 15 Contributions by the employer 141 0 4 32 177 Benefits paid 1 (477) (134) (75) (52) (738) Payments in respect to settlements 0 0 0 0 0 Acquisitions/Divestitures 0 0 0 0 0 Exchange rate changes 0 374 82 39 495 Other 0 0 0 0 0 Plan administration costs 0 (5) (3) (1) (9) Balance, end of year 12,642 6,019 1,148 1,079 20,888 Funded status, end of year (455) 1,090 (203) 52 484 Change in irrecoverable surplus (asset ceiling) Balance, beginning of year 0 0 0 (38) (38) Interest cost 0 0 0 0 0 Changes in irrecoverable surplus 0 0 0 (48) (48) Exchange rate changes 0 0 0 (4) (4) Balance, end of year 0 0 0 (90) (90) Net asset (liability) recognized (455) 1,090 (203) (38) 394 2 1 For funded plans only. 2 Thereof € 1,207 million € 813 million 2020 in € m. Germany UK U.S. Other Total Change in the present value of the defined benefit obligation: Balance, beginning of year 13,270 4,687 1,418 1,043 20,418 Defined benefit cost recognized in Profit & Loss Current service cost 200 28 12 42 282 Interest cost 122 85 43 18 268 Past service cost and gain or loss arising from settlements (22) 1 11 0 0 (11) Defined benefit cost recognized in Other Comprehensive Income Actuarial gain or loss arising from changes in financial 536 600 75 39 1,250 Actuarial gain or loss arising from changes in demographic 110 (11) (9) 2 92 Actuarial gain or loss arising from experience (73) (68) 3 (14) (152) Cash flow and other changes Contributions by plan participants 4 0 0 15 19 Benefits paid (456) (160) (96) (80) (792) Payments in respect to settlements 0 0 0 0 0 Acquisitions/Divestitures (158) 2 0 0 0 (158) Exchange rate changes 0 (255) (119) (36) (410) Other (1) 0 0 2 1 Balance, end of year 13,532 4,917 1,327 1,031 20,807 thereof: Unfunded 0 15 195 105 315 Funded 13,532 4,902 1,132 926 20,492 Change in fair value of plan assets: Balance, beginning of year 11,915 5,615 1,143 982 19,655 Defined benefit cost recognized in Profit & Loss Interest income 111 101 34 17 263 Defined benefit cost recognized in Other Comprehensive Income Return from plan assets less interest income 777 456 60 42 1,335 Cash flow and other changes Contributions by plan participants 4 0 0 15 19 Contributions by the employer 444 0 56 28 528 Benefits paid 3 (456) (159) (84) (65) (764) Payments in respect to settlements 0 0 0 0 0 Acquisitions/Divestitures (137) 2 0 0 0 (137) Exchange rate changes 0 (303) (99) (31) (433) Other 0 0 0 0 0 Plan administration costs 0 (5) (3) (1) (9) Balance, end of year 12,658 5,705 1,107 987 20,457 Funded status, end of year (874) 788 (220) (44) (350) Change in irrecoverable surplus (asset ceiling) Balance, beginning of year 0 0 0 (40) (40) Interest cost 0 0 0 0 0 Changes in irrecoverable surplus 0 0 0 2 2 Exchange rate changes 0 0 0 0 0 Balance, end of year 0 0 0 (38) (38) Net asset (liability) recognized (874) 788 (220) (82) (388) 4 1 Contains a past service credit of € 48 million due to the introduction of a capital option for a specific plan sponsored by former Postbank 2 Postbank Systems AG 3 For funded plans only. 4 Thereof € 877 million recognized in Other assets and € 1,265 million in Other liabilities |
Plan Asset Allocation Level 1 [text block table] | Dec 31, 2021 Dec 31, 2020 in € m. Germany UK U.S. Other Total Germany UK U.S. Other Total Cash and cash equivalents 930 321 56 78 1,385 290 504 67 57 918 Equity instruments 1 1,220 348 151 209 1,928 899 609 126 57 1,691 Investment-grade bonds 2 Government 2,524 1,918 436 207 5,085 2,829 1,048 422 167 4,466 Non-government bonds 5,386 1,894 379 336 7,995 6,144 2,034 387 258 8,823 Non-investment-grade bonds Government 137 1 1 1 140 99 2 1 18 120 Non-government bonds 423 142 33 55 653 236 107 37 28 408 Securitized and other Debt Investments 839 124 79 7 1,049 1 122 73 0 196 Insurance 1 1,256 0 10 1,267 1 1,248 0 13 1,262 Alternatives Real estate 528 0 0 98 626 443 37 0 79 559 Commodities 25 0 0 5 30 24 0 0 0 24 Private equity 0 0 0 2 2 72 0 0 23 95 Other 3 46 0 0 50 96 1,406 0 0 271 1,677 Derivatives (Market Value) Interest rate 518 42 9 2 571 78 (18) (3) 0 57 Credit 65 (87) 16 1 (5) 115 (107) 15 1 24 Inflation 0 (62) 0 14 (48) 0 (109) 0 11 (98) Foreign exchange (1) 4 0 4 7 20 3 0 4 27 Other 1 118 (12) 0 107 1 225 (18) 0 208 Total fair value of plan assets 12,642 6,019 1,148 1,079 20,888 12,658 5,705 1,107 987 20,457 1 Allocation of equity exposure is broadly in line with the typical index in the respective market, e.g. the equity portfolio’s benchmark of the UK retirement benefit plans is the MSCI All Countries World Index. 2 Investment-grade means BBB and above. Average credit rating exposure for the Group’s main plans is around A. 3 This position contains commingled funds which could not be segregated into the other asset categories The following table sets out the Group’s funded defined benefit plan assets only invested in “quoted” assets, i.e. Level 1 assets in accordance with IFRS 13. Dec 31, 2021 Dec 31, 2020 in € m. Germany UK U.S. Other Total Germany UK U.S. Other Total Cash and cash equivalents 756 317 48 34 1,155 226 504 63 26 819 Equity instruments 1 983 348 151 53 1,535 760 609 126 45 1,540 Investment-grade bonds 2 Government 902 1,902 431 77 3,312 1,107 989 417 56 2,569 Non-government bonds 0 0 0 0 0 0 0 0 0 0 Non-investment-grade bonds Government 0 0 0 0 0 0 0 0 5 5 Non-government bonds 0 0 0 0 0 0 0 0 0 0 Securitized and other Debt Investments 0 118 0 0 118 0 0 0 0 0 Insurance 0 0 0 0 0 0 0 0 0 0 Alternatives Real estate 0 0 0 0 0 0 0 0 0 0 Commodities 0 0 0 0 0 0 0 0 0 0 Private equity 0 0 0 0 0 0 0 0 0 0 Other 0 0 0 0 0 0 0 0 0 0 Derivatives (Market Value) Interest rate 0 0 (16) 0 (16) 0 1 (15) 0 (14) Credit 0 1 0 0 1 0 (107) 0 0 (107) Inflation 0 0 0 14 14 0 0 0 11 11 Foreign exchange 0 2 0 0 2 0 4 0 0 4 Other 1 0 0 0 1 1 0 0 0 1 Total fair value of quoted 2,642 2,688 614 178 6,122 2,094 2,000 591 143 4,828 1 Allocation of equity exposure is broadly in line with the typical index in the respective market, e.g. the equity portfolio’s benchmark of the UK retirement benefit plans is the MSCI All Countries World Index 2 Investment-grade means BBB and above. Average credit rating exposure for the Group’s main plans is around A |
Regional Asset Break Down [text block table] | Dec 31, 2021 in € m. Germany United United Other Other Emerging Total Cash and cash equivalents 3 174 88 1,039 45 37 1,386 Equity instruments 36 61 1,182 304 258 87 1,928 Government bonds 860 1,799 500 1,153 222 551 5,085 Government bonds 0 0 0 4 2 134 140 Non-government bonds 500 1,546 2,437 2,873 539 100 7,995 Non-government bonds 46 61 92 438 9 7 653 Securitized and other Debt Investments 23 97 86 31 809 3 1,049 Subtotal 1,468 3,738 4,385 5,842 1,884 919 18,236 Share (in %) 8% 20% 24% 32% 10% 5% 100% Other asset categories 2,652 Fair value of plan assets 20,888 Dec 31, 2020 in € m. Germany United United Other Other Emerging Total Cash and cash equivalents (7) 396 170 308 20 31 918 Equity instruments 209 70 703 270 336 103 1,691 Government bonds 1,018 979 470 1,150 292 557 4,466 Government bonds 2 0 0 7 11 100 120 Non-government bonds 639 1,601 2,685 3,265 554 79 8,823 Non-government bonds 1 52 46 292 8 8 407 Securitized and other Debt Investments 1 99 82 12 0 2 196 Subtotal 1,863 3,197 4,156 5,304 1,221 880 16,621 Share (in %) 11% 19% 25% 32% 7% 5% 100% Other asset categories 3,836 Fair value of plan assets 20,457 |
Sensitivity Analysis on Funded Status [text block table] | Dec 31, 2021 Dec 31, 2020 in € m. Germany UK U.S. Other Germany UK U.S. Other Interest rate (–50 bp): (Increase) in DBO (915) (520) (40) (60) (970) (520) (45) (60) Expected increase in plan assets 1 595 350 35 20 895 400 35 25 Expected net impact on funded status (de-) increase (320) (170) (5) (40) (75) (120) (10) (35) Interest rate (+50 bp): Decrease in DBO 855 470 40 55 900 470 40 55 Expected (decrease) in plan assets 1 (595) (350) (35) (20) (895) (400) (35) (25) Expected net impact on funded status (de-) increase 260 120 5 35 5 70 5 30 Credit spread (–50 bp): (Increase) in DBO (915) (520) (75) (60) (970) (520) (75) (65) Expected increase in plan assets 1 595 125 15 10 760 120 15 10 Expected net impact on funded status (de-) increase (320) (395) (60) (50) (210) (400) (60) (55) Credit spread (+50 bp): Decrease in DBO 855 470 70 55 900 470 70 60 Expected (decrease) in plan assets 1 (595) (125) (15) (10) (760) (120) (15) (10) Expected net impact on funded status (de-) increase 260 345 55 45 140 350 55 50 Rate of price inflation (–50 bp): 2 Decrease in DBO 370 365 0 20 320 390 0 20 Expected (decrease) in plan assets 1 (290) (270) 0 (10) (235) (255) 0 (10) Expected net impact on funded status (de-) increase 80 95 0 10 85 135 0 10 Rate of price inflation (+50 bp): 2 (Increase) in DBO (385) (365) 0 (25) (330) (425) 0 (20) Expected increase in plan assets 1 290 270 0 10 235 255 0 10 Expected net impact on funded status (de-) increase (95) (95) 0 (15) (95) (170) 0 (10) Rate of real increase in future compensation Decrease in DBO, net impact on funded status 55 5 0 15 60 10 0 15 Rate of real increase in future compensation (Increase) in DBO, net impact on funded status (55) (5) 0 (15) (60) (10) 0 (15) Longevity improvements by 10 %: 3 (Increase) in DBO, net impact on funded status (335) (160) 4 (30) (15) (325) (160) 4 (30) (15) 1 Expected changes in the fair value of plan assets contain the simulated impact from the biggest plans in Germany, the UK, the U.S., Channel Islands, Switzerland and Belgium which cover over 99 % of the total fair value of plan assets. The fair value of plan assets for other plans is assumed to be unchanged for this presentation. 2 Incorporates sensitivity to changes in pension benefits to the extent linked to the price inflation assumption. 3 Estimated to be equivalent to an increase of around 1 year in overall life expectancy. 4 Due to buy-in transaction the net impact on funded status reduces by € 45 million |
Expected Cash Flows [text block table] | 2022 in € m. Total Expected contributions to Defined benefit plan assets 220 BVV 60 Other defined contribution plans 245 Expected benefit payments for unfunded defined benefit plans 25 Expected total cash flow related to post-employment benefits 550 |
Expenses for Defined Benefit Plans (Impact on Expense) [text block table] | in € m. 2021 2020 2019 Expenses for defined benefit plans: Service cost 1 234 246 272 Net interest cost (income) 0 5 2 Total expenses defined benefit plans 234 251 274 Expenses for defined contribution plans: BVV 58 60 63 Other defined contribution plans 244 243 244 Total expenses for defined contribution plans 302 303 307 Total expenses for post-employment benefit plans 536 554 581 Employer contributions to state-mandated pension plans Pensions related payments social security in Germany 221 233 231 Contributions to pension fund for Postbank´s postal civil servants 66 79 85 Further pension related state-mandated benefit plans 217 245 249 Total employer contributions to state-mandated benefit plans 504 557 565 Expenses for share-based payments: Expenses for share-based payments, equity settled 2 455 318 549 Expenses for share-based payments, cash settled 2 35 49 39 Expenses for cash retention plans 2 398 329 516 Expenses for severance payments 3 184 184 92 1 Severance related items under Service Costs are reclassified to Expenses for Severance payments. 2 Including expenses for new hire awards and the acceleration of expenses not yet amortized due to the discontinuation of employment including those amounts which are recognized as part of the Group’s restructuring expenses 3 Excluding the acceleration of expenses for deferred compensation awards not yet amortized . |
Income Taxes (Tables)
Income Taxes (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Income Taxes [Abstract] | |
Components of Income Tax Expense (Benefit) [text block table] | in € m. 2021 2020 2019 Current tax expense (benefit): Tax expense (benefit) for current year 847 739 757 Adjustments for prior years 14 (46) 5 Total current tax expense (benefit) 861 693 762 Deferred tax expense (benefit): Origination and reversal of temporary differences, unused tax losses and tax credits 108 (224) (71) Effect of changes in tax law and/or tax rate (26) (11) (9) Adjustments for prior years (20) (67) 1,948 Total deferred tax expense (benefit) 62 (302) 1,868 Total income tax expense (benefit) 923 391 2,630 |
Analysis of the Difference between the Amount (Expected Tax Expense at Domestic Income Tax Rate vs. Actual Income Tax Expense) [text block table] | Difference between applying German statutory (domestic) income tax rate and actual income tax expense/(benefit) in € m. 2021 2020 2019 Expected tax expense (benefit) at domestic income tax rate of 31.3% (31.3% for 2020 and 31.3% for 2019) 1,101 314 (825) Foreign rate differential (89) (39) 170 Tax-exempt gains on securities and other income (183) (181) (191) Loss (income) on equity method investments (11) (18) (19) Nondeductible expenses 287 293 326 Impairments of goodwill 1 0 269 Changes in recognition and measurement of deferred tax assets 1 (227) 96 2,785 Effect of changes in tax law and/or tax rate (26) (11) (9) Effect related to share-based payments 1 (29) 54 Other 1 69 (34) 70 Actual income tax expense (benefit) 923 391 2,630 1 Current and deferred tax expense/(benefit) relating to prior years are mainly reflected in the line items “Changes in recognition and measurement of deferred tax assets” and “Other”. |
Income Tax Charged or Credited to Equity [text block table] | Income taxes credited or charged to equity (other comprehensive income/additional paid in capital) in € m. 2021 2020 2019 Actuarial gains (losses) related to defined benefit plans (207 ) 76 402 Net fair value gains (losses) attributable to credit risk related to financial 5 6 1 Financial assets mandatory at fair value through other comprehensive income: Unrealized net gains (losses) arising during the period 111 (204) (42) Realized net gains (losses) arising during the period (reclassified to profit or loss) 68 84 71 Derivatives hedging variability of cash flows: Unrealized net gains (losses) arising during the period (2) 4 1 Net gains (losses) reclassified to profit or loss 15 (1) 1 Other equity movement: Unrealized net gains (losses) arising during the period 88 (19) 162 Net gains (losses) reclassified to profit or loss 6 14 0 Income taxes credited (charged) to other comprehensive income 84 (40) 596 Other income taxes credited (charged) to equity 45 11 (11) |
Major Components of Gross Deferred Income Tax Assets and Liabilities [text block table] | Major components of the Group’s gross deferred tax assets and liabilities in € m. Dec 31, 2021 Dec 31, 2020 Deferred tax assets: Unused tax losses 1,653 1,476 Unused tax credits 2 0 Deductible temporary differences: Trading activities, including derivatives 1,869 2,905 Employee benefits, including equity settled share based payments 2,533 2,457 Accrued interest expense 1,428 1,122 Loans and borrowings, including allowance for loans 892 1,069 Leases 857 806 Intangible Assets 52 214 Fair value OCI (IFRS 9) 53 1 Other assets 515 560 Other provisions 110 122 Other liabilities 10 4 Total deferred tax assets pre offsetting 9,974 10,736 Deferred tax liabilities: Taxable temporary differences: Trading activities, including derivatives 1,770 2,658 Employee benefits, including equity settled share based payments 296 183 Loans and borrowings, including allowance for loans 538 501 Leases 774 712 Intangible Assets 501 560 Fair value OCI (IFRS 9) 76 144 Other assets 214 350 Other provisions 82 79 Other liabilities 41 47 Total deferred tax liabilities pre offsetting 4,292 5,234 |
After Offsetting, Deferred Tax Assets and Liabilities [text block table] | Deferred tax assets and liabilities, after offsetting in € m. Dec 31, 2021 Dec 31, 2020 Presented as deferred tax assets 6,180 6,063 Presented as deferred tax liabilities 498 561 Net deferred tax assets 5,682 5,502 |
Items where no Deferred Tax Assets were recognized [text block table] | Items for which no deferred tax assets were recognized in € m. Dec 31, 2021¹ Dec 31, 2020¹ Deductible temporary differences (988) (2,204) Not expiring (10,331) (9,982) Expiring in subsequent period 0 (138) Expiring after subsequent period (5,811) (4,702) Unused tax losses (16,142) (14,822) Expiring after subsequent period (20) (56) Unused tax credits (21) (58) 1 Amounts in the table refer to deductible temporary differences, unused tax losses and tax credits for federal income tax purposes. |
Derivatives (Tables)
Derivatives (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Derivatives [Abstract] | |
Hedging Derivates [text block table] | Hedge accounting relationships impacted by the IASB Benchmark Reform amendments Dec 31, 2021 Dec 31, 2020 in € m. Notional Notional Fair value hedge CHF LIBOR 0 493 GBP LIBOR 0 2,073 JPY LIBOR 0 1,383 USD LIBOR 20,298 20,877 |
Value of Derivatives held as Fair Value Hedges [text block table] | Derivatives held as fair value hedges Dec 31, 2021 2021 Dec 31, 2020 2020 in € m. Assets Liabilities Nominal Fair Value Assets Liabilities Nominal Fair Value Derivatives held as fair value hedges 3,713 1,000 78,176 (1,454) 5,845 1,362 87,937 882 2021 2020 in € m. Hedge Hedge Result of fair value hedges 139 (175) |
Fair Value Hedges [text block table] | Financial instruments designated as fair value hedges Dec 31, 2021 2021 Carrying amount of Financial Accumulated amount of Accumulated amount of Fair Value in € m. Assets Liabilities Assets Liabilities Assets Liabilities Financial assets at fair value through 12,397 0 (221) 0 4 0 (724) Bonds at amortized cost 582 0 5 0 2 0 (12) Long-term debt 0 62,294 0 1,595 0 302 2,329 Deposits 0 0 0 0 0 0 0 Loans at amortized cost 0 0 0 0 0 0 0 Dec 31, 2020 2020 Carrying amount of Financial Accumulated amount of Accumulated amount of Fair Value in € m. Assets Liabilities Assets Liabilities Assets Liabilities Financial assets at fair value through 25,568 0 100 0 2 0 12 Bonds at amortized cost 831 0 22 0 4 0 63 Long-term debt 0 57,883 0 4,196 0 629 (1,132) Deposits 0 0 0 0 0 0 0 Loans at amortized cost 0 0 0 0 0 0 0 |
Value of Derivatives held as Cash Flow Hedges [text block table] | Derivatives held as cash flow hedges Dec 31, 2021 2021 Dec 31, 2020 2020 in € m. Assets Liabilities Nominal Fair Value Assets Liabilities Nominal Fair Value Derivatives held as cash flow hedges 49 43 7,451 (75) 79 0 6,171 (14) |
Cash Flow Hedge Balances [text block table] | Cash flow hedge balances in € m. Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Reported in Equity 1 (42) 11 21 thereof relates to terminated programs 0 0 0 Gains (losses) posted to equity for the year ended 1 (14) (2) Gains (losses) removed from equity for the year ended (54) 4 (2) thereof relates to terminated programs 0 0 0 Changes of hedged item's value used for hedge effectiveness 66 (7) 0 Ineffectiveness recorded within P&L 25 (12) 0 1 Reported in equity refers to accumulated other comprehensive income as presented in the Consolidated Balance Sheet. |
Value of Derivatives held as Net Investment Hedges [text block table] | Derivatives held as net investment hedges Dec 31, 2021 2021 Dec 31, 2020 2020 in € m. Assets Liabilities Nominal amount Fair Value Assets Liabilities Nominal amount Fair Value Derivatives held as net investment hedges 227 1,093 39,087 (1,707) 1,617 408 40,277 1,933 2021 2020 in € m. Fair value changes 1 Hedge Fair value changes 1 Hedge Result of net investment hedges 1,892 (179) (1,415) (186) 1 Reported in equity refers to accumulated other comprehensive income as presented in the Consolidated Balance Sheet. |
Profile of NIH hedging instruments [text block table] | Profile of derivatives held as net investment hedges in € m. Within 1 year 1–3 years 3–5 years Over 5 years As of December 31, 2021 Nominal amount Foreign exchange forwards 38,965 103 16 3 Nominal amount Foreign exchange swaps 0 0 0 0 Total 38,965 103 16 3 As of December 31, 2020 Nominal amount Foreign exchange forwards 40,217 60 0 0 Nominal amount Foreign exchange swaps 0 0 0 0 Total 40,217 60 0 0 |
Related Party Transactions (Tab
Related Party Transactions (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Related Party Transactions [Abstract] | |
Compensation Expense of Key Management Personnel [text block table] | Compensation expense of key management personnel in € m. 2021 2020 2019 Short-term employee benefits 36 30 32 Post-employment benefits 7 7 6 Other long-term benefits 10 2 6 Termination benefits 6 0 34 Share-based payment 15 8 21 Total 74 47 99 |
Loans (Transactions with Subsidiaries, Joint Ventures and Associates) [text block table] | Loans in € m. 2021 2020 Loans outstanding, beginning of year 214 228 Net movement in loans during the period 159 (19) Changes in the group of consolidated companies 0 0 Exchange rate changes/other (193) 5 Loans outstanding, end of year 1 181 214 Other credit risk related transactions: Allowance for loan losses 0 0 Provision for loan losses 0 0 Guarantees and commitments 28 42 1 Loans past due were € 0 million € 0 million € 0 million € 5 million |
Deposits (Transactions with Subsidiaries, Joint Ventures and Associates) [text block table] | Deposits in € m. 2021 2020 Deposits outstanding, beginning of year 49 58 Net movement in deposits during the period 14 (8) Changes in the group of consolidated companies 0 0 Exchange rate changes/other 0 (0) Deposits outstanding, end of year 63 49 |
Summary of Transactions with Related Party Pension Plans [text block table] | Transactions with related party pension plans in € m. 2021 2020 Equity shares issued by the Group held in plan assets 23 1 Other assets 17 24 Fees paid from plan assets to asset managers of the Group 22 24 Market value of derivatives with a counterparty of the Group 765 306 Notional amount of derivatives with a counterparty of the Group 12,309 14,623 |
Information on Subsidiaries (Ta
Information on Subsidiaries (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Information on Subsidiaries [Abstract] | |
Subsidiaries with significant non-controlling interests [text block table] | Subsidiaries with material non-controlling interests Dec 31, 2021 Dec 31, 2020 DWS Group GmbH & Co. KGaA Proportion of ownership interests and voting rights held by non-controlling interests 20.51 % 20.51 % Place of business Global Global in € m Dec 31, 2021 Dec 31, 2020 Net income attributable to non-controlling interests 161 117 Accumulated non-controlling interests of the subsidiary 1,545 1,412 Dividends paid to non-controlling interests 74 69 Summarized financial information: Total assets 11,611 10,448 Total liabilities 4,166 3,685 Total net revenues 2,720 2,237 Net income (loss) 782 558 Total comprehensive income (loss), net of tax 1,064 259 |
Carrying Amounts of Assets and Liabilities to which Restrictions Apply [text block table] | Restricted assets Dec 31, 2021 Dec 31, 2020 in € m. Total Restricted Total Restricted Interest-earning deposits with banks 180,942 196 152,143 153 Financial assets at fair value through profit or loss 491,233 55,325 527,980 52,494 Financial assets at fair value through other comprehensive income 28,979 6,648 55,834 8,110 Loans at amortized cost 472,069 79,764 426,691 78,144 Other 151,482 3,233 162,313 3,316 Total 1,324,705 145,166 1,324,961 142,217 |
Structured Entities (Tables)
Structured Entities (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Structured Entities [Abstract] | |
Carrying amounts of assets & liabilities recognised in its financial statements relating to DBs interests [text block table] | Carrying amounts and size relating to Deutsche Bank’s interests Dec 31, 2021 in € m. Repacka- Third Party Securiti- Funds Total Assets Cash and central bank balances 0 0 0 0 0 Interbank balances (w/o central banks) 1 0 0 11 12 Central bank funds sold and securities 0 0 82 1,593 1,675 Securities Borrowed 0 0 0 0 0 Total financial assets at fair value 328 7,860 4,923 44,192 57,303 Trading assets 172 4,825 3,243 3,980 12,220 Positive market values 156 300 9 2,671 3,135 Non-trading financial assets mandatory at fair value through profit or loss 0 2,735 1,671 37,542 41,948 Financial assets designated at fair 0 0 0 0 0 Financial assets at fair value through other comprehensive income 0 298 1,043 530 1,871 Loans at amortized cost 1,089 60,338 26,406 15,245 103,079 Other assets 4 575 3,333 12,202 16,114 Total assets 1,422 69,072 35,787 73,773 180,054 Liabilities Total financial liabilities at fair value 74 185 20 8,721 9,000 Negative market values 74 185 20 8,721 9,000 Other short-term borrowings 0 0 0 0 0 Other liabilities 0 0 0 13 13 Total liabilities 74 185 20 8,734 9,013 Off-balance sheet exposure 0 7,765 10,093 3,683 21,541 Total 1,348 76,652 45,861 68,722 192,582 Dec 31, 2020 in € m. Repacka- Third Party Securiti- Funds Total Assets Cash and central bank balances 0 0 0 0 0 Interbank balances (w/o central banks) 1 0 0 12 13 Central bank funds sold and securities 0 126 0 1,901 2,027 Securities Borrowed 0 0 0 0 0 Total financial assets at fair value 340 6,368 4,428 50,316 61,452 Trading assets 181 4,134 2,408 4,304 11,027 Positive market values 158 154 31 3,635 3,977 Non-trading financial assets mandatory at fair value through profit or loss 0 2,080 1,990 42,377 46,448 Financial assets designated at fair 0 0 0 0 0 Financial assets at fair value through other comprehensive income 0 333 457 270 1,060 Loans at amortized cost 165 46,867 27,638 10,270 84,939 Other assets 51 400 3,065 20,499 24,015 Total assets 557 54,096 35,587 83,267 173,508 Liabilities Total financial liabilities at fair value 92 58 10 11,191 11,351 Negative market values 92 58 10 11,191 11,351 Other short-term borrowings 0 0 0 0 0 Other liabilities 0 0 0 1,815 1,815 Total liabilities 92 58 10 13,006 13,166 Off-balance sheet exposure 0 5,889 8,279 1,944 16,112 Total 466 59,927 43,856 72,205 176,453 |
Current and Non-Current Asset_2
Current and Non-Current Assets and Liabilities (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Current and Non-Current Assets and Liabilities [Abstract] | |
Current and Non-Current Assets and Liabilities (actual & previous) [text block table] | Asset items as of December 31, 2021 Amounts recovered or settled Total in € m. within one year after one year Dec 31, 2021 Cash and central bank balances 192,012 9 192,021 Interbank balances (w/o central banks) 7,318 24 7,342 Central bank funds sold and securities purchased under resale agreements 5,904 2,465 8,368 Securities borrowed 63 0 63 Financial assets at fair value through profit or loss 483,183 8,050 491,233 Financial assets at fair value through other comprehensive income 6,995 21,984 28,979 Equity method investments 0 1,091 1,091 Loans at amortized cost 133,266 338,803 472,069 Property and equipment 0 5,536 5,536 Goodwill and other intangible assets 0 6,824 6,824 Other assets 87,654 16,130 103,784 Assets for current tax 717 497 1,214 Total assets before deferred tax assets 917,111 401,414 1,318,525 Deferred tax assets 6,180 Total assets 1,324,705 Liability items as of December 31, 2021 Amounts recovered or settled Total in € m. within one year after one year Dec 31, 2021 Deposits 582,924 21,472 604,396 Central bank funds purchased and securities sold under repurchase agreements 297 450 747 Securities loaned 24 0 24 Financial liabilities at fair value through profit or loss 398,204 2,653 400,857 Other short-term borrowings 4,034 0 4,034 Other liabilities 96,138 1,658 97,795 Provisions 2,641 0 2,641 Liabilities for current tax 411 189 600 Long-term debt 49,434 95,051 144,485 Trust preferred securities 528 0 528 Total liabilities before deferred tax liabilities 1,134,635 121,473 1,256,108 Deferred tax liabilities 498 Total liabilities 1,256,606 Asset items as of December 31, 2020 Amounts recovered or settled Total in € m. within one year after one year Dec 31, 2020 Cash and central bank balances 166,208 0 166,208 Interbank balances (w/o central banks) 9,120 11 9,130 Central bank funds sold and securities purchased under resale agreements 4,728 3,805 8,533 Securities borrowed 0 0 0 Financial assets at fair value through profit or loss 515,653 12,327 527,980 Financial assets at fair value through other comprehensive income 14,393 41,441 55,834 Equity method investments 0 901 901 Loans at amortized cost 111,588 315,103 426,691 Property and equipment 0 5,549 5,549 Goodwill and other intangible assets 0 6,725 6,725 Other assets 94,685 15,675 110,360 Assets for current tax 300 686 986 Total assets before deferred tax assets 916,674 402,223 1,318,898 Deferred tax assets 6,063 Total assets 1,324,961 Liability items as of December 31, 2020 Amounts recovered or settled Total in € m. within one year after one year Dec 31, 2020 Deposits 544,383 23,362 567,745 Central bank funds purchased and securities sold under repurchase agreements 1,830 495 2,325 Securities loaned 1,698 0 1,698 Financial liabilities at fair value through profit or loss 416,042 3,157 419,199 Other short-term borrowings 3,553 0 3,553 Other liabilities 112,617 1,591 114,208 Provisions 2,430 0 2,430 Liabilities for current tax 328 246 574 Long-term debt 59,613 89,550 149,163 Trust preferred securities 1,321 0 1,321 Total liabilities before deferred tax liabilities 1,143,814 118,402 1,262,216 Deferred tax liabilities 561 Total liabilities 1,262,777 |
Regulatory Capital Information
Regulatory Capital Information (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Regulatory Capital Information [Abstract] | |
Transitional template for regulatory capital RWA and capital ratios [text block table] | Own Funds Template (incl. RWA and capital ratios) |
Reconciliation of Shareholders Equity to Regulatory Capital [text block table] | Reconciliation of shareholders’ equity to Own Funds CRR/CRD in € m. Dec 31, 2021 Dec 31, 2020 ³ Total shareholders’ equity per accounting balance sheet (IASB IFRS) 58,096 54,774 Difference between equity per IASB IFRS / EU IFRS 4 (68) 12 Total shareholders’ equity per accounting balance sheet (EU IFRS) 58,027 54,786 Deconsolidation/Consolidation of entities 265 265 Of which: Additional paid-in capital 0 0 Retained earnings 265 265 Accumulated other comprehensive income (loss), net of tax 0 0 Total shareholders' equity per regulatory balance sheet 58,292 55,050 Minority Interests (amount allowed in consolidated CET 1) 910 805 AT1 coupon and shareholder dividend deduction 1 (987) (242) Common Equity Tier 1 (CET 1) capital before regulatory adjustments 58,215 55,613 Additional value adjustments (1,812) (1,430) Other prudential filters (other than additional value adjustments) (14) (112) Goodwill and other intangible assets (net of related tax liabilities) (negative amount) (4,897) (4,635) Deferred tax assets that rely on future profitability (1,617) (1,428) Defined benefit pension fund assets (net of related tax liabilities) (negative amount) (991) (772) Direct, indirect and synthetic holdings by the institution of the CET 1 instruments of financial sector entities 0 0 Other regulatory adjustments 2 (2,378) (2,351) Common Equity Tier 1 capital 46,506 44,885 1 Full year profit is recognized as per ECB Decision (EU) 2015/656 in accordance with the Article 26(2) of Regulation (EU) No 575/2013 (ECB/2015/4) 2 Includes capital deductions of € 1.1 billion € 0.9 billion € 0.7 billion € 0.7 billion € 0.6 billion € 0.1 billion € 17 million € 39 million € 54 million € 0.7 billion 3 The Common Equity Tier 1 capital for December 31, 2020 has been updated to reflect a dividend payment of zero for the financial year 2020 4 Differences in “equity per balance sheet” result entirely from deviations in profit (loss) after taxes due to the application of EU carve-out rules as set forth in the chapter "Basis of preparation/impact of changes in accounting principles". These rules were initially applied in the first quarter 2020 |
Condensed Deutsche Bank AG (D_2
Condensed Deutsche Bank AG (Deutsche Bank AG) Financial Information (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Condensed Deutsche Bank AG (Parent Company only) Financial Information [Abstract] | |
Condensed Statement of Income (Parent Company only) [text block table] | Condensed statement of income in € m. 2021 2020 2019 Interest income, excluding dividends from subsidiaries 13,830 15,301 17,402 Dividends received from subsidiaries: Bank subsidiaries 356 166 914 Nonbank subsidiaries 893 859 608 Interest expense 5,120 6,274 9,810 Net interest and dividend income 9,959 10,052 9,114 Provision for credit losses 317 1,444 3,118 Net interest and dividend income after provision for credit losses 9,642 8,608 5,996 Noninterest income: Commissions and fee income 4,987 4,414 2,957 Net gains (losses) on financial assets/liabilities at fair value through profit or loss 2,151 1,709 132 Other income (loss) 1 (105) 1,506 (11,912) Total noninterest income 7,034 7,629 (8,824) Noninterest expenses: Compensation and benefits 5,395 5,641 4,760 General and administrative expenses 7,427 6,950 7,735 Services provided by (to) affiliates, net 2,097 2,730 1,328 Impairment of goodwill and other intangible assets 0 0 75 Total noninterest expenses 14,918 15,321 13,898 Income (loss) before income taxes 1,757 916 (16,725) Income tax expense (benefit) 213 (34) 1,357 Net income (loss) attributable to Deutsche Bank shareholders and additional equity components 1,544 950 (18,083) 1 Condensed statement of comprehensive income in € m. 2021 2020 2019 Net income (loss) attributable to Deutsche Bank shareholders and additional equity components 1,544 950 (18,083) Other comprehensive income (loss), net of tax 130 (172) (440) Total comprehensive income (loss), net of tax 1,674 778 (18,523) |
Condensed Balance Sheet (Parent Company only) [text block table] | Condensed balance sheet in € m. Dec 31, 2021 Dec 31, 2020 Assets: Cash and central bank balances: 153,899 138,716 Interbank balances (w/o central banks): Bank subsidiaries 13,265 13,980 Other 4,742 4,668 Central bank funds sold, securities purchased under resale agreements, securities borrowed: Bank subsidiaries 0 0 Nonbank subsidiaries 39,253 29,165 Other 7,552 7,715 Financial assets at fair value through profit or loss: Bank subsidiaries 1,083 1,533 Nonbank subsidiaries 1,234 1,360 Other 430,102 468,875 Financial assets at fair value through other comprehensive income 48,612 74,931 Investments in associates 236 183 Investment in subsidiaries: Bank subsidiaries 6,592 6,563 Nonbank subsidiaries 21,725 23,229 Loans: Bank subsidiaries 34,817 26,893 Nonbank subsidiaries 36,351 38,095 Other 352,176 313,011 Other assets: Bank subsidiaries 1,396 1,095 Nonbank subsidiaries 12,616 11,798 Other 92,967 108,194 Total assets 1,258,617 1,270,004 Liabilities and equity: Deposits: Bank subsidiaries 25,927 21,470 Nonbank subsidiaries 16,460 15,396 Other 497,726 474,012 Central bank funds purchased, securities sold under repurchase agreements and securities loaned: Bank subsidiaries 570 895 Nonbank subsidiaries 48,891 36,566 Other 762 3,751 Financial liabilities at fair value through profit or loss: Bank subsidiaries 1,493 2,003 Nonbank subsidiaries 859 559 Other 365,005 387,389 Other short-term borrowings: Bank subsidiaries 27 37 Nonbank subsidiaries 956 1,440 Other 3,789 3,313 Other liabilities: Bank subsidiaries 1,028 1,125 Nonbank subsidiaries 5,291 6,285 Other 77,702 100,571 Long-term debt 162,108 169,007 Total liabilities 1,208,592 1,223,819 Total shareholders’ equity 41,720 40,361 Additional equity components 8,305 5,824 Total equity 50,025 46,185 Total liabilities and equity 1,258,617 1,270,004 |
Condensed Statement of Cash Flows (Parent Company only) [text block table] | Condensed statement of cash flows in € m. 2021 2020 2019 Net cash provided by (used in) operating activities (12,829) 20,605 (41,369) Cash flows from investing activities: Proceeds from: Sale of financial assets at fair value through other comprehensive income 49,020 37,446 14,075 Maturities of financial assets at fair value through other comprehensive income 18,646 29,093 36,236 Sale of debt securities held to collect at amortized cost 30 8,239 350 Maturities of debt securities held to collect at amortized cost 4,743 3,960 195 Sale of equity method investments 21 30 0 Sale of property and equipment 93 12 12 Purchase of: Financial assets at fair value through other comprehensive income (42,011) (75,890) (47,705) Debt Securities held to collect at amortized cost (5,922) (3,359) (19,320) Investments in associates (8) (3) (1) Property and equipment (464) (387) (266) Net change in investments in subsidiaries 1,516 3,427 1,149 Other, net (965) (927) (861) Net cash provided by (used in) investing activities 24,698 1,642 (16,136) Cash flows from financing activities: Issuances of subordinated long-term debt 1,099 1,668 25 Repayments and extinguishments of subordinated long-term debt (25) (1,120) (11) Issuances of trust preferred securities 0 0 0 Repayments and extinguishments of trust preferred securities 0 0 0 Principal portion of lease payments (462) (479) (362) Common shares issued 0 0 0 Purchases of treasury shares (346) (279) (1,359) Sale of treasury shares 35 76 1,181 Additional Equity Components (AT1) issued 2,500 1,153 0 Purchases of Additional Equity Components (AT1) (1,230) (709) (88) Sale of Additional Equity Components (AT1) 1,210 721 77 Coupon on additional equity components, pre tax (363) (349) (330) Cash dividends paid 0 0 (227) Net cash provided by (used in) financing activities 2,417 681 (1,094) Net effect of exchange rate changes on cash and cash equivalents 755 (799) 1,163 Net increase (decrease) in cash and cash equivalents 15,042 47,295 (57,436) thereof: Group internal merger 0 25,166 0 Cash and cash equivalents at beginning of period 129,699 82,405 139,841 Cash and cash equivalents at end of period 144,741 129,699 82,405 Net cash provided by (used in) operating activities include Income taxes paid (received), net 13 916 280 Interest paid 5,182 6,324 10,054 Interest received 13,288 15,905 14,786 Dividends received 1,468 724 4,217 Cash and cash equivalents comprise Cash and central bank balances (not included Interest-earning time deposits with central banks) 138,800 124,549 75,180 Interbank balances (w/o central banks) 5,941 5,151 7,225 Total 144,741 129,699 82,405 |
Parent Company Long-Term Debt (Parent Company only) [text block table] | Parent company’s long-term debt by earliest contractual maturity Due in Due in Due in Due in Due in Due after Total Total in € m. Senior debt: Bonds and notes: Fixed rate 9,053 11,038 9,182 5,295 9,987 16,915 61,469 62,296 1 Floating rate 3,135 1,373 2,327 3,243 3,235 4,871 18,184 27,991 1 Other 37,246 1,044 999 935 814 31,511 72,549 69,254 Subordinated debt Bonds and notes: Fixed rate 14 0 64 2,623 1,967 2,488 7,157 6,047 Floating rate 600 1,197 21 194 0 455 2,467 2,846 Other 15 93 88 0 42 46 283 571 Total long-term debt 50,063 14,744 12,680 12,290 16,045 56,286 162,108 169,007 1 |
IBOR Transition (Tables)
IBOR Transition (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
IBOR Transition [Abstract] | |
IBOR Transition [Text Block Table] | Interest Rate Benchmark (IBOR) Reform 2021 in € m. USD LIBOR GBP LIBOR CHF LIBOR JPY LIBOR EONIA Other IBORs Multiple basis 1 Non-Derivative Financial assets: Bonds (floating rate notes) 400 - - - - - - Securitizations 98 37 - - - - - Syndicated Loans 35,312 552 11 1 - 71 - Repurchase agreements / Other Secured Lending 308 - - - - - - Loans / Advances (Total Limit) 27,091 4,926 171 58 363 398 - Retail / Commercial Mortgages 395 - - - - - - Other 982 90 - 7 173 - - Derivative Financial assets: 2 Interest Rate Derivatives – Exchange Traded 80,264 - - - - - - Interest Rate Derivatives – OTC 2,546,602 345,222 44,657 521,581 9,042 40,493 5 Other OTC Derivatives 202,554 6,080 2,408 1,946 0 10 167,045 Total financial assets 2,894,005 356,907 47,246 523,593 9,578 40,971 167,050 Non-Derivative Financial liabilities: Bonds (floating rate notes) 6,561 - - - - - - Repos / Other Secured Lending 6 - - - 2 - - Deposits 10,809 - - - 664 - - Other 26 41 - - 22 - - Derivative Financial liabilities: 2 Interest Rate Derivatives – Exchange Traded 3,374 - - - - - - Interest Rate Derivatives – OTC 2,469,906 315,253 44,058 498,993 7,150 38,569 2 Other OTC Derivatives 196,083 6,177 1,384 3,578 0 81 144,215 Total financial liabilities 2,686,766 321,471 45,442 502,571 7,840 38,650 144,217 Off-balance sheet: Loan Commitments 73,152 498 40 95 1,954 33 - Other Commitments 13 - - - - - - Other - - - - 9 - - Total off-balance sheet 73,166 498 40 95 1,963 33 - 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 |
Note 03 - Assets and liabilitie
Note 03 - Assets and liabilities disposed (Detail) - EUR (€) € in Millions | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Assets and liabilities disposed | |||
Cash and cash equivalents | € 0 | € 2 | € 0 |
All remaining assets | 3,507 | 7 | 2,713 |
Total assets disposed | 3,507 | 9 | 2,714 |
Total liabilities disposed | € 8,102 | € 79 | € 1,003 |
Note 03 - Assets and liabilit_2
Note 03 - Assets and liabilities disposed (Detail: Text Values) | 12 Months Ended | ||
Dec. 31, 2021EUR (€) | Dec. 31, 2020EUR (€) | Dec. 31, 2019EUR (€) | |
Assets and liabilities disposed | |||
Total cash consideration received for dispositions of subsidiaries/businesses | € 34,000,000 | € 7,000,000 | € 1,800,000,000 |
of which: in cash | € 0 | € 7,000,000 | € 1,800,000,000 |
Group completed the acquisition of of the shares in Better Payment Germany GmbH | 1 | ||
Cash consideration | € 5,000,000 | ||
Contingent consideration | 3,000,000 | ||
Group recorded goodwill of EUR million | € 5,000,000 |
Note 04 - Management Report - S
Note 04 - Management Report - Segment Results of Operations (Detail) - EUR (€) € in Millions | 12 Months Ended | |||||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | ||||
Segment Results of Operations [Line Items] | ||||||
Net revenues | [1] | € 25,538 | € 24,011 | € 23,165 | ||
Provision for credit losses | 515 | 1,792 | 723 | |||
Noninterest expenses [Abstract] | ||||||
Compensation and benefits | 10,418 | 10,471 | 11,142 | |||
General and administrative expenses | 10,821 | 10,259 | 12,253 | |||
Impairment of goodwill and other intangible assets | 5 | 0 | 1,037 | |||
Restructuring activities | 261 | 485 | 644 | |||
Total noninterest expenses | 21,505 | 21,216 | 25,076 | |||
Noncontrolling interests | 0 | 0 | 0 | |||
Profit (loss) before tax | € 3,518 | € 1,003 | € (2,634) | |||
Cost/income ratio | 84.00% | 88.00% | 108.00% | |||
Assets | € 1,324,705 | € 1,324,961 | € 1,297,674 | |||
Additions to non-current assets | 1,939 | 3,423 | 1,322 | |||
Risk-weighted assets | 351,629 | 328,951 | 324,015 | |||
Leverage Exposure (fully-loaded) | 1,124,667 | [2] | 1,078,268 | [3] | 1,168,040 | |
Average allocated shareholders' equity | € 56,537 | € 55,308 | € 60,170 | |||
Post-tax return on average shareholders equity | 4.00% | 0.00% | (10.00%) | |||
Post-tax return on average tangible shareholders' equity | 4.00% | 0.00% | (11.00%) | |||
Includes: | ||||||
Net interest income | € 11,117 | € 11,548 | € 13,749 | |||
Net income (loss) from equity method investments | 98 | 120 | 110 | |||
Includes: | ||||||
Equity method investments | 1,091 | 901 | 929 | |||
Corporate Bank [Member] | ||||||
Segment Results of Operations [Line Items] | ||||||
Net revenues | 5,150 | 5,146 | 5,247 | |||
Provision for credit losses | (3) | 364 | 284 | |||
Noninterest expenses [Abstract] | ||||||
Compensation and benefits | 1,447 | 1,402 | 1,419 | |||
General and administrative expenses | 2,659 | 2,813 | 2,829 | |||
Impairment of goodwill and other intangible assets | 5 | 0 | 492 | |||
Restructuring activities | 42 | 28 | 137 | |||
Total noninterest expenses | 4,153 | 4,243 | 4,877 | |||
Noncontrolling interests | 0 | 0 | 0 | |||
Profit (loss) before tax | € 1,000 | € 539 | € 86 | |||
Cost/income ratio | 81.00% | 82.00% | 93.00% | |||
Assets | [4] | € 245,716 | € 237,675 | € 228,846 | ||
Additions to non-current assets | 17 | 10 | 9 | |||
Risk-weighted assets | 65,406 | 57,483 | 58,993 | |||
Leverage Exposure (fully-loaded) | 299,892 | [2] | 273,959 | [3] | 270,836 | |
Average allocated shareholders' equity | € 10,301 | € 9,945 | € 10,340 | |||
Post-tax return on average shareholders equity | 6.00% | 3.00% | 0.00% | |||
Post-tax return on average tangible shareholders' equity | 7.00% | 3.00% | 0.00% | |||
Includes: | ||||||
Net interest income | € 2,605 | € 2,883 | € 2,635 | |||
Net income (loss) from equity method investments | 3 | 3 | 3 | |||
Includes: | ||||||
Equity method investments | 72 | 69 | 66 | |||
Investment Bank [Member] | ||||||
Segment Results of Operations [Line Items] | ||||||
Net revenues | 9,631 | 9,286 | 7,023 | |||
Provision for credit losses | 104 | 690 | 110 | |||
Noninterest expenses [Abstract] | ||||||
Compensation and benefits | 2,199 | 2,081 | 2,156 | |||
General and administrative expenses | 3,583 | 3,323 | 4,073 | |||
Impairment of goodwill and other intangible assets | 0 | 0 | 0 | |||
Restructuring activities | 47 | 14 | 169 | |||
Total noninterest expenses | 5,830 | 5,418 | 6,397 | |||
Noncontrolling interests | (17) | 11 | 20 | |||
Profit (loss) before tax | € 3,715 | € 3,166 | € 496 | |||
Cost/income ratio | 61.00% | 58.00% | 91.00% | |||
Assets | [4],[5] | € 615,906 | € 573,536 | € 501,591 | ||
Additions to non-current assets | 6 | 4 | 1 | |||
Risk-weighted assets | 140,600 | 128,292 | 116,367 | |||
Leverage Exposure (fully-loaded) | 530,361 | [2] | 476,097 | [3] | 432,066 | |
Average allocated shareholders' equity | € 24,181 | € 22,911 | € 21,736 | |||
Post-tax return on average shareholders equity | 10.00% | 9.00% | 1.00% | |||
Post-tax return on average tangible shareholders' equity | 11.00% | 10.00% | 1.00% | |||
Includes: | ||||||
Net interest income | € 3,332 | € 3,325 | € 2,709 | |||
Net income (loss) from equity method investments | (34) | 22 | 32 | |||
Includes: | ||||||
Equity method investments | 462 | 399 | 412 | |||
Private Bank [Member] | ||||||
Segment Results of Operations [Line Items] | ||||||
Net revenues | 8,234 | 8,126 | 8,239 | |||
Provision for credit losses | 446 | 711 | 344 | |||
Noninterest expenses [Abstract] | ||||||
Compensation and benefits | 2,810 | 2,863 | 2,971 | |||
General and administrative expenses | 4,440 | 4,238 | 4,517 | |||
Impairment of goodwill and other intangible assets | 0 | 0 | 545 | |||
Restructuring activities | 173 | 413 | 125 | |||
Total noninterest expenses | 7,423 | 7,513 | 8,159 | |||
Noncontrolling interests | 0 | 0 | 0 | |||
Profit (loss) before tax | € 366 | € (99) | € (263) | |||
Cost/income ratio | 90.00% | 92.00% | 99.00% | |||
Assets | [4],[6] | € 310,496 | € 296,596 | € 270,334 | ||
Additions to non-current assets | 149 | 202 | 167 | |||
Risk-weighted assets | 85,366 | 77,074 | 74,032 | |||
Leverage Exposure (fully-loaded) | 320,692 | [2] | 307,746 | [3] | 282,575 | |
Average allocated shareholders' equity | € 12,663 | € 11,553 | € 11,663 | |||
Post-tax return on average shareholders equity | 1.00% | (1.00%) | (2.00%) | |||
Post-tax return on average tangible shareholders' equity | 1.00% | (1.00%) | (2.00%) | |||
Includes: | ||||||
Net interest income | € 4,601 | € 4,499 | € 4,838 | |||
Net income (loss) from equity method investments | 40 | 23 | 14 | |||
Includes: | ||||||
Equity method investments | 180 | 60 | 82 | |||
Asset Management [Member] | ||||||
Segment Results of Operations [Line Items] | ||||||
Net revenues | 2,708 | 2,229 | 2,332 | |||
Provision for credit losses | 5 | 2 | 1 | |||
Noninterest expenses [Abstract] | ||||||
Compensation and benefits | 822 | 740 | 832 | |||
General and administrative expenses | 840 | 763 | 851 | |||
Impairment of goodwill and other intangible assets | 0 | 0 | 0 | |||
Restructuring activities | 2 | 22 | 29 | |||
Total noninterest expenses | 1,664 | 1,526 | 1,711 | |||
Noncontrolling interests | 223 | 157 | 152 | |||
Profit (loss) before tax | € 816 | € 544 | € 468 | |||
Cost/income ratio | 61.00% | 68.00% | 73.00% | |||
Assets | [4],[7] | € 10,387 | € 9,453 | € 9,936 | ||
Additions to non-current assets | 32 | 32 | 27 | |||
Risk-weighted assets | 14,415 | 9,997 | 9,527 | |||
Leverage Exposure (fully-loaded) | 10,678 | [2] | 4,695 | [3] | 4,643 | |
Average allocated shareholders' equity | € 4,815 | € 4,757 | € 4,865 | |||
Post-tax return on average shareholders equity | 12.00% | 8.00% | 7.00% | |||
Post-tax return on average tangible shareholders' equity | 30.00% | 21.00% | 18.00% | |||
Includes: | ||||||
Net interest income | € (5) | € 1 | € (39) | |||
Net income (loss) from equity method investments | 81 | 63 | 49 | |||
Includes: | ||||||
Equity method investments | 349 | 304 | 276 | |||
Capital Release Unit [Member] | ||||||
Segment Results of Operations [Line Items] | ||||||
Net revenues | 26 | (225) | 217 | |||
Provision for credit losses | (42) | 29 | (14) | |||
Noninterest expenses [Abstract] | ||||||
Compensation and benefits | 128 | 168 | 359 | |||
General and administrative expenses | 1,306 | 1,774 | 2,898 | |||
Impairment of goodwill and other intangible assets | 0 | 0 | 0 | |||
Restructuring activities | (2) | 5 | 143 | |||
Total noninterest expenses | 1,432 | 1,947 | 3,400 | |||
Noncontrolling interests | 0 | 0 | 1 | |||
Profit (loss) before tax | (1,364) | (2,200) | (3,170) | |||
Assets | [4],[8] | 131,775 | 197,667 | 259,224 | ||
Additions to non-current assets | 1 | 0 | 0 | |||
Risk-weighted assets | 28,059 | 34,415 | 45,874 | |||
Leverage Exposure (fully-loaded) | 38,830 | [2] | 71,726 | [3] | 126,905 | |
Average allocated shareholders' equity | € 4,473 | € 6,166 | € 7,253 | |||
Post-tax return on average shareholders equity | (23.00%) | (26.00%) | (32.00%) | |||
Post-tax return on average tangible shareholders' equity | (23.00%) | (27.00%) | (33.00%) | |||
Includes: | ||||||
Net interest income | € 58 | € 61 | € 85 | |||
Net income (loss) from equity method investments | 7 | 9 | 12 | |||
Includes: | ||||||
Equity method investments | 25 | 67 | 90 | |||
Corporate & Other [Member] | ||||||
Segment Results of Operations [Line Items] | ||||||
Net revenues | (211) | (552) | 107 | |||
Provision for credit losses | 5 | (4) | 0 | |||
Noninterest expenses [Abstract] | ||||||
Compensation and benefits | 3,012 | 3,217 | 3,406 | |||
General and administrative expenses | (2,008) | (2,652) | (2,916) | |||
Impairment of goodwill and other intangible assets | 0 | 0 | 0 | |||
Restructuring activities | 0 | 3 | 41 | |||
Total noninterest expenses | 1,004 | 568 | 531 | |||
Noncontrolling interests | (206) | (169) | (173) | |||
Profit (loss) before tax | (1,014) | (947) | (251) | |||
Assets | 10,425 | 10,035 | 27,743 | |||
Additions to non-current assets | 1,734 | 3,174 | 1,117 | |||
Risk-weighted assets | 17,783 | 21,690 | 19,223 | |||
Leverage Exposure (fully-loaded) | 22,761 | [2] | 29,243 | [3] | 51,016 | |
Average allocated shareholders' equity | 104 | (23) | 4,314 | |||
Includes: | ||||||
Net interest income | 526 | 779 | 3,520 | |||
Net income (loss) from equity method investments | 1 | 1 | 1 | |||
Includes: | ||||||
Equity method investments | € 4 | € 4 | € 4 | |||
[1] | Consolidated net revenues comprise interest and similar income, interest expenses and total noninterest income (including net commission and fee income). Revenues are attributed to countries based on the location in which the Group’s booking office is located. The location of a transaction on the Group’s books is sometimes different from the location of the headquarters or other offices of a customer and different from the location of the Group’s personnel who entered into or facilitated the transaction. Where the Group records a transaction involving its staff and customers and other third parties in different locations frequently depends on other considerations, such as the nature of the transaction, regulatory considerations and transaction processing considerations. | |||||
[2] | The Group leverage exposure is presented excluding certain Euro-based exposures facing Eurosystem central banks based on the ECB-decision (EU) 2020/1306 and after having obtained permission from the ECB. The segmental leverage exposures are presented without that deduction. | |||||
[3] | The Group leverage exposure is presented excluding certain Euro-based exposures facing Eurosystem central banks based on the ECB-decision (EU) 2020/1306 and after having obtained permission from the ECB. The segmental leverage exposures are presented without that deduction. | |||||
[4] | Segment assets represent consolidated view, i.e., the amounts do not include intersegment balances. | |||||
[5] | Segment assets represent consolidated view, i.e., the amounts do not include intersegment balances. | |||||
[6] | Segment assets represent consolidated view, i.e., the amounts do not include intersegment balances | |||||
[7] | Segment assets represent consolidated view, i.e., the amounts do not include intersegment balances. | |||||
[8] | Segment assets represent consolidated view, i.e., the amounts do not include intersegment balances. |
Note 04 - Management Report -_2
Note 04 - Management Report - Segment Results of Operations (Detail: Text Values) - Segment Results of Operations, Text Values [Member] - EUR (€) | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Segment Results of Operations [Line Items] | |||
Tax rate used in determining the fully taxable-equivalent of net interest income in respect of the majority of the US tax-exempt securities | 21.00% | ||
Effective tax rate for the Group, reflected in the post-tax return on average tangible shareholders equity and average shareholders equity at the Group level | 26.00% | 39.00% | (100.00%) |
Effective tax rate for the group adjusted to exclude the impact of permanent differences not attributed to the segments, reflected in the post-tax return on average tangible shareholders equity and average shareholders equity of the segments | 28.00% | 28.00% | |
Infrastructure Full-time Employees realignment | 90 |
Note 04 - Management Report - C
Note 04 - Management Report - Corporate Divisions - Corporate Bank (Detail) - Corporate Bank [Member] - EUR (€) | 12 Months Ended | |||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | ||
Net revenues [Abstract] | ||||
Corporate Treasury Services | € 3,130,000,000 | € 3,125,000,000 | € 3,077,000,000 | |
Institutional Client Services | 1,294,000,000 | 1,274,000,000 | 1,405,000,000 | |
Business Banking | 726,000,000 | 747,000,000 | 765,000,000 | |
Total net revenues | 5,150,000,000 | 5,146,000,000 | 5,247,000,000 | |
Of which: [Abstract] | ||||
Net Interest Income | 2,605,000,000 | 2,883,000,000 | 2,635,000,000 | |
Commissions and Fee Income | 2,203,000,000 | 2,078,000,000 | 2,192,000,000 | |
Remaining Income | 343,000,000 | 185,000,000 | 420,000,000 | |
Provision for credit losses | (3,000,000) | 364,000,000 | 284,000,000 | |
Noninterest expenses [Abstract] | ||||
Compensation and benefits | 1,447,000,000 | 1,402,000,000 | 1,419,000,000 | |
General and administrative expenses | 2,659,000,000 | 2,813,000,000 | 2,829,000,000 | |
Impairment of goodwill and other intangible assets | 5,000,000 | 0 | 492,000,000 | |
Restructuring activities | 42,000,000 | 28,000,000 | 137,000,000 | |
Total noninterest expenses | 4,153,000,000 | 4,243,000,000 | 4,877,000,000 | |
Noncontrolling interests | 0 | 0 | 0 | |
Profit (loss) before tax | 1,000,000,000 | 539,000,000 | 86,000,000 | |
Total assets | [1] | 245,716,000,000 | 237,675,000,000 | 228,846,000,000 |
Loans (gross of allowances for loan losses) | € 122,000,000 | € 115,000,000 | € 119,000,000 | |
Employees (full-time equivalent) | 13,265 | 13,320 | 13,471 | |
[1] | Segment assets represent consolidated view, i.e., the amounts do not include intersegment balances. |
Note 04 - Management Report -_3
Note 04 - Management Report - Corporate Divisions - Investment Bank (Detail) - Investment Bank [Member] - EUR (€) | 12 Months Ended | |||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | ||
Net revenues [Abstract] | ||||
Fixed Income, Currency (FIC) Sales & Trading | € 7,063,000,000 | € 7,074,000,000 | € 5,524,000,000 | |
Debt Origination | 1,573,000,000 | 1,500,000,000 | 1,117,000,000 | |
Equity Origination | 544,000,000 | 369,000,000 | 148,000,000 | |
Advisory | 491,000,000 | 244,000,000 | 370,000,000 | |
Origination and Advisory | 2,608,000,000 | 2,114,000,000 | 1,635,000,000 | |
Other | (40,000,000) | 99,000,000 | (136,000,000) | |
Total net revenues | 9,631,000,000 | 9,286,000,000 | 7,023,000,000 | |
Provision for credit losses | 104,000,000 | 690,000,000 | 110,000,000 | |
Noninterest expenses [Abstract] | ||||
Compensation and benefits | 2,199,000,000 | 2,081,000,000 | 2,156,000,000 | |
General and administrative expenses | 3,583,000,000 | 3,323,000,000 | 4,073,000,000 | |
Impairment of goodwill and other intangible assets | 0 | 0 | 0 | |
Restructuring activities | 47,000,000 | 14,000,000 | 169,000,000 | |
Total noninterest expenses | 5,830,000,000 | 5,418,000,000 | 6,397,000,000 | |
Noncontrolling interests | (17,000,000) | 11,000,000 | 20,000,000 | |
Profit (loss) before income taxes | 3,715,000,000 | 3,166,000,000 | 496,000,000 | |
Total assets | [1],[2] | 615,906,000,000 | 573,536,000,000 | 501,591,000,000 |
Loans (gross of allowances for loan losses) | € 93,000,000,000 | € 69,000,000,000 | € 75,000,000,000 | |
Employees (full-time equivalent) | 7,202 | 7,584 | 7,494 | |
[1] | Segment assets represent consolidated view, i.e., the amounts do not include intersegment balances. | |||
[2] | Segment assets represent consolidated view, i.e., the amounts do not include intersegment balances. |
Note 04 - Management Report -_4
Note 04 - Management Report - Corporate Divisions - Private Bank (Detail) - Private Bank [Member] - EUR (€) | 12 Months Ended | |||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | ||
Net revenues [Abstract] | ||||
Private Bank Germany | € 5,008,000,000 | € 4,989,000,000 | € 5,109,000,000 | |
International Private Bank | 3,226,000,000 | 3,136,000,000 | 3,130,000,000 | |
IPB Personal Banking | [1] | 908,000,000 | 870,000,000 | 905,000,000 |
IPB Private Banking and Wealth Management | [2] | 2,318,000,000 | 2,266,000,000 | 2,225,000,000 |
Total net revenues | 8,234,000,000 | 8,126,000,000 | 8,239,000,000 | |
Of which: [Abstract] | ||||
Net interest income | 4,601,000,000 | 4,499,000,000 | 4,838,000,000 | |
Commission and fee income | 3,207,000,000 | 3,052,000,000 | 2,866,000,000 | |
Remaining income | 426,000,000 | 574,000,000 | 534,000,000 | |
Provision for credit losses | 446,000,000 | 711,000,000 | 344,000,000 | |
Noninterest expenses [Abstract] | ||||
Compensation and benefits | 2,810,000,000 | 2,863,000,000 | 2,971,000,000 | |
General and administrative expenses | 4,440,000,000 | 4,238,000,000 | 4,517,000,000 | |
Impairment of goodwill and other intangible assets | 0 | 0 | 545,000,000 | |
Restructuring activities | 173,000,000 | 413,000,000 | 125,000,000 | |
Total noninterest expenses | 7,423,000,000 | 7,513,000,000 | 8,159,000,000 | |
Noncontrolling interests | 0 | 0 | 0 | |
Profit (loss) before income taxes | 366,000,000 | (99,000,000) | (263,000,000) | |
Total assets | [3],[4] | 310,496,000,000 | 296,596,000,000 | 270,334,000,000 |
Loans (gross of allowances for loan losses) | 254,000,000,000 | 237,000,000,000 | 227,000,000,000 | |
Assets under Management | 553,000,000,000 | 493,000,000,000 | 482,000,000,000 | |
Net flows | € 30,000,000,000 | € 16,000,000,000 | € 4,000,000,000 | |
Employees (full-time equivalent) | 28,100 | 29,764 | 31,421 | |
[1] | Including small businesses in Italy, Spain and India. | |||
[2] | Including small & mid caps in Italy, Spain and India | |||
[3] | Segment assets represent consolidated view, i.e., the amounts do not include intersegment balances | |||
[4] | Segment assets represent consolidated view, i.e., the amounts do not include intersegment balances. |
Note 04 - Management Report -_5
Note 04 - Management Report - Corporate Divisions - Asset Management (Detail) - Asset Management [Member] - EUR (€) | 12 Months Ended | |||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | ||
Net revenues [Abstract] | ||||
Management Fees | € 2,370,000,000 | € 2,136,000,000 | € 2,141,000,000 | |
Performance and transaction fees | 212,000,000 | 90,000,000 | 201,000,000 | |
Other revenues | 126,000,000 | 3,000,000 | (10,000,000) | |
Total net revenues | 2,708,000,000 | 2,229,000,000 | 2,332,000,000 | |
Provision for credit losses | 5,000,000 | 2,000,000 | 1,000,000 | |
Noninterest expenses [Abstract] | ||||
Compensation and benefits | 822,000,000 | 740,000,000 | 832,000,000 | |
General and administrative expenses | 840,000,000 | 763,000,000 | 851,000,000 | |
Impairment of goodwill and other intangible assets | 0 | 0 | 0 | |
Restructuring activities | 2,000,000 | 22,000,000 | 29,000,000 | |
Total noninterest expenses | 1,664,000,000 | 1,526,000,000 | 1,711,000,000 | |
Noncontrolling interests | 223,000,000 | 157,000,000 | 152,000,000 | |
Profit (loss) before income taxes | 816,000,000 | 544,000,000 | 468,000,000 | |
Total assets | [1],[2] | 10,387,000,000 | 9,453,000,000 | 9,936,000,000 |
Assets under Management | 928,000,000,000 | 793,000,000,000 | 768,000,000,000 | |
Net flows | € 48,000,000,000 | € 30,000,000,000 | € 25,000,000,000 | |
Employees (full-time equivalent) | 4,072 | 3,926 | 3,925 | |
[1] | Segment assets represent consolidated view, i.e., the amounts do not include intersegment balances. | |||
[2] | Segment assets represent consolidated view, i.e., the amounts do not include intersegment balances. |
Note 04 - Management Report -_6
Note 04 - Management Report - Corporate Divisions - Capital Release Unit (Detail) - Capital Release Unit [Member] - EUR (€) | 12 Months Ended | |||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | ||
Capital Release Unit [Line Items] | ||||
Net revenues | € 26,000,000 | € (225,000,000) | € 217,000,000 | |
Provision for credit losses | (42,000,000) | 29,000,000 | (14,000,000) | |
Noninterest expenses [Abstract] | ||||
Compensation and benefits | 128,000,000 | 168,000,000 | 359,000,000 | |
General and administrative expenses | 1,306,000,000 | 1,774,000,000 | 2,898,000,000 | |
Impairment of goodwill and other intangible assets | 0 | 0 | 0 | |
Restructuring activities | (2,000,000) | 5,000,000 | 143,000,000 | |
Total noninterest expenses | 1,432,000,000 | 1,947,000,000 | 3,400,000,000 | |
Noncontrolling interests | 0 | 0 | 1,000,000 | |
Profit (loss) before tax | (1,364,000,000) | (2,200,000,000) | (3,170,000,000) | |
Total assets | [1],[2] | € 131,775,000,000 | € 197,667,000,000 | € 259,224,000,000 |
Employees (full-time equivalent) | 267 | 478 | 614 | |
[1] | Segment assets represent consolidated view, i.e., the amounts do not include intersegment balances. | |||
[2] | Segment assets represent consolidated view, i.e., the amounts do not include intersegment balances. |
Note 04 - Management Report -_7
Note 04 - Management Report - Corporate Divisions - Corporate & Other (Detail) - Corporate & Other [Member] - EUR (€) | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Consolidations & Adjustments [Line Items] | |||
Net revenues | € (211,000,000) | € (552,000,000) | € 107,000,000 |
Provision for credit losses | 5,000,000 | (4,000,000) | 0 |
Noninterest expenses [Abstract] | |||
Compensation and benefits | 3,012,000,000 | 3,217,000,000 | 3,406,000,000 |
General and administrative expenses | (2,008,000,000) | (2,652,000,000) | (2,916,000,000) |
Impairment of goodwill and other intangible assets | 0 | 0 | 0 |
Restructuring activities | 0 | 3,000,000 | 41,000,000 |
Total noninterest expenses | 1,004,000,000 | 568,000,000 | 531,000,000 |
Noncontrolling interests | (206,000,000) | (169,000,000) | (173,000,000) |
Profit (loss) before income taxes | € (1,014,000,000) | € (947,000,000) | € (251,000,000) |
Employees (full-time equivalent) | 30,064 | 29,587 | 30,672 |
Note 04 - Entity-Wide Disclosur
Note 04 - Entity-Wide Disclosures by Geographic Area (Detail) - EUR (€) € in Millions | 12 Months Ended | |||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | ||
Entity-Wide Disclosures by Geographic Area [Line Items] | ||||
Net revenues | [1] | € 25,538 | € 24,011 | € 23,165 |
Corporate Bank [Member] | ||||
Entity-Wide Disclosures by Geographic Area [Line Items] | ||||
Net revenues | 5,150 | 5,146 | 5,247 | |
Investment Bank [Member] | ||||
Entity-Wide Disclosures by Geographic Area [Line Items] | ||||
Net revenues | 9,631 | 9,286 | 7,023 | |
Private Bank [Member] | ||||
Entity-Wide Disclosures by Geographic Area [Line Items] | ||||
Net revenues | 8,234 | 8,126 | 8,239 | |
Asset Management [Member] | ||||
Entity-Wide Disclosures by Geographic Area [Line Items] | ||||
Net revenues | 2,708 | 2,229 | 2,332 | |
Capital Release Unit [Member] | ||||
Entity-Wide Disclosures by Geographic Area [Line Items] | ||||
Net revenues | 26 | (225) | 217 | |
Corporate & Other [Member] | ||||
Entity-Wide Disclosures by Geographic Area [Line Items] | ||||
Net revenues | (211) | (552) | 107 | |
Germany [Member] | ||||
Entity-Wide Disclosures by Geographic Area [Line Items] | ||||
Net revenues | 9,914 | 9,441 | 9,504 | |
Germany [Member] | Corporate Bank [Member] | ||||
Entity-Wide Disclosures by Geographic Area [Line Items] | ||||
Net revenues | 2,593 | 2,538 | 2,444 | |
Germany [Member] | Investment Bank [Member] | ||||
Entity-Wide Disclosures by Geographic Area [Line Items] | ||||
Net revenues | 450 | 431 | 364 | |
Germany [Member] | Private Bank [Member] | ||||
Entity-Wide Disclosures by Geographic Area [Line Items] | ||||
Net revenues | 5,481 | 5,456 | 5,562 | |
Germany [Member] | Asset Management [Member] | ||||
Entity-Wide Disclosures by Geographic Area [Line Items] | ||||
Net revenues | 1,385 | 992 | 1,054 | |
Germany [Member] | Capital Release Unit [Member] | ||||
Entity-Wide Disclosures by Geographic Area [Line Items] | ||||
Net revenues | 4 | 23 | 80 | |
UK [Member] | ||||
Entity-Wide Disclosures by Geographic Area [Line Items] | ||||
Net revenues | 3,997 | 3,602 | 2,645 | |
UK [Member] | Corporate Bank [Member] | ||||
Entity-Wide Disclosures by Geographic Area [Line Items] | ||||
Net revenues | 144 | 110 | 207 | |
UK [Member] | Investment Bank [Member] | ||||
Entity-Wide Disclosures by Geographic Area [Line Items] | ||||
Net revenues | 3,642 | 3,552 | 2,244 | |
UK [Member] | Private Bank [Member] | ||||
Entity-Wide Disclosures by Geographic Area [Line Items] | ||||
Net revenues | (2) | 31 | 29 | |
UK [Member] | Asset Management [Member] | ||||
Entity-Wide Disclosures by Geographic Area [Line Items] | ||||
Net revenues | 336 | 292 | 345 | |
UK [Member] | Capital Release Unit [Member] | ||||
Entity-Wide Disclosures by Geographic Area [Line Items] | ||||
Net revenues | (122) | (383) | (181) | |
Rest of Europe, Middle East and Africa [Member] | ||||
Entity-Wide Disclosures by Geographic Area [Line Items] | ||||
Net revenues | 3,249 | 3,355 | 3,293 | |
Rest of Europe, Middle East and Africa [Member] | Corporate Bank [Member] | ||||
Entity-Wide Disclosures by Geographic Area [Line Items] | ||||
Net revenues | 900 | 934 | 846 | |
Rest of Europe, Middle East and Africa [Member] | Investment Bank [Member] | ||||
Entity-Wide Disclosures by Geographic Area [Line Items] | ||||
Net revenues | 255 | 358 | 292 | |
Rest of Europe, Middle East and Africa [Member] | Private Bank [Member] | ||||
Entity-Wide Disclosures by Geographic Area [Line Items] | ||||
Net revenues | 1,783 | 1,682 | 1,676 | |
Rest of Europe, Middle East and Africa [Member] | Asset Management [Member] | ||||
Entity-Wide Disclosures by Geographic Area [Line Items] | ||||
Net revenues | 286 | 344 | 380 | |
Rest of Europe, Middle East and Africa [Member] | Capital Release Unit [Member] | ||||
Entity-Wide Disclosures by Geographic Area [Line Items] | ||||
Net revenues | 26 | 35 | 99 | |
Americas [Member] | ||||
Entity-Wide Disclosures by Geographic Area [Line Items] | ||||
Net revenues | 5,596 | 4,929 | 4,556 | |
Americas [Member] | Corporate Bank [Member] | ||||
Entity-Wide Disclosures by Geographic Area [Line Items] | ||||
Net revenues | 750 | 768 | 951 | |
Americas [Member] | Investment Bank [Member] | ||||
Entity-Wide Disclosures by Geographic Area [Line Items] | ||||
Net revenues | 3,904 | 3,285 | 2,701 | |
Americas [Member] | Private Bank [Member] | ||||
Entity-Wide Disclosures by Geographic Area [Line Items] | ||||
Net revenues | 364 | 362 | 379 | |
Americas [Member] | Asset Management [Member] | ||||
Entity-Wide Disclosures by Geographic Area [Line Items] | ||||
Net revenues | 537 | 465 | 437 | |
Americas [Member] | Capital Release Unit [Member] | ||||
Entity-Wide Disclosures by Geographic Area [Line Items] | ||||
Net revenues | 41 | 50 | 88 | |
Asia/Pacific [Member] | ||||
Entity-Wide Disclosures by Geographic Area [Line Items] | ||||
Net revenues | 2,993 | 3,236 | 3,059 | |
Asia/Pacific [Member] | Corporate Bank [Member] | ||||
Entity-Wide Disclosures by Geographic Area [Line Items] | ||||
Net revenues | 764 | 796 | 798 | |
Asia/Pacific [Member] | Investment Bank [Member] | ||||
Entity-Wide Disclosures by Geographic Area [Line Items] | ||||
Net revenues | 1,381 | 1,660 | 1,421 | |
Asia/Pacific [Member] | Private Bank [Member] | ||||
Entity-Wide Disclosures by Geographic Area [Line Items] | ||||
Net revenues | 608 | 594 | 593 | |
Asia/Pacific [Member] | Asset Management [Member] | ||||
Entity-Wide Disclosures by Geographic Area [Line Items] | ||||
Net revenues | 163 | 136 | 116 | |
Asia/Pacific [Member] | Capital Release Unit [Member] | ||||
Entity-Wide Disclosures by Geographic Area [Line Items] | ||||
Net revenues | € 77 | € 49 | € 130 | |
[1] | Consolidated net revenues comprise interest and similar income, interest expenses and total noninterest income (including net commission and fee income). Revenues are attributed to countries based on the location in which the Group’s booking office is located. The location of a transaction on the Group’s books is sometimes different from the location of the headquarters or other offices of a customer and different from the location of the Group’s personnel who entered into or facilitated the transaction. Where the Group records a transaction involving its staff and customers and other third parties in different locations frequently depends on other considerations, such as the nature of the transaction, regulatory considerations and transaction processing considerations. |
Note 04 - Entity-Wide Disclos_2
Note 04 - Entity-Wide Disclosures by Geographic Area (Detail: Text Values) - EUR (€) € in Millions | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Entity-Wide Disclosures by Geographic Area [Abstract] | |||
Increase of net interest income in IB due to presentation of tax-exempt securities as fully taxable, offsetted by reversal in C&O | € 40 | € 45 | € 35 |
Full year result impact of new internal funds transfer pricing ("FTP") framework: [Abstract] | |||
Corporate Bank | 20 | ||
Investment Bank | 140 | ||
Private Bank | 30 | ||
Capital Release Unit | 30 | ||
Corporate & Other | € 120 |
Note 05 - Net Interest Income (
Note 05 - Net Interest Income (Detail) - EUR (€) € in Thousands | 12 Months Ended | |||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | ||
Interest and similar income: | ||||
Interest income on cash and central bank balances | € 160,000 | € 321,000 | € 1,762,000 | |
Interest income on interbank balances (w/o central banks) | 67,000 | 325,000 | 293,000 | |
Central bank funds sold and securities purchased under resale agreements | 273,000 | 318,000 | 340,000 | |
Loans | 10,650,000 | 11,586,000 | 13,760,000 | |
Other | 1,747 | 896 | 824 | |
Total Interest and similar income from assets measured at amortized cost | 12,897,000 | 13,446,000 | 16,979,000 | |
Interest income from assets at fair value through other comprehensive income | 501,000 | 635,000 | 1,023,000 | |
Total Interest and similar income calculated using the effective interest method | 13,399,000 | 14,081,000 | 18,002,000 | |
Financial assets at fair value through profit or loss | [1] | 3,374,000 | 3,873,000 | 7,205,000 |
Total interest and similar income | [2] | 16,773,000 | 17,954,000 | 25,208,000 |
Thereof: Negative Interest Expense on Financial Liabilities | 1,217,000 | 636,000 | 372,000 | |
Interest expense: | ||||
Interest-bearing deposits | 1,456,000 | 2,065,000 | 3,643,000 | |
Central bank funds purchased and securities sold under repurchase agreements | 148,000 | 169,000 | 367,000 | |
Other short-term borrowings | 71,000 | 62,000 | 163,000 | |
Long-term debt | 1,484,000 | 1,612,000 | 2,002,000 | |
Trust preferred securities | 3,000 | 42,000 | 187,000 | |
Other | 876,000 | 807,000 | 1,667,000 | |
Total Interest expense measured at amortized cost | 4,036,000 | 4,758,000 | 8,030,000 | |
Financial liabilities at fair value through profit or loss | 1,619,000 | 1,648,000 | 3,429,000 | |
Total interest expense | 5,655,000 | 6,405,000 | 11,458,000 | |
Thereof: Negative interest income on financial assets | 786,000 | 582,000 | 743,000 | |
Net interest income | € 11,117,000 | € 11,548,000 | € 13,749,000 | |
[1] | Prior years' comparatives aligned to presentation in the current year. | |||
[2] | Interest and similar income included € 13.4 billion € 14.1 billion € 18.0 billion |
Note 05 - Net Interest Income_2
Note 05 - Net Interest Income (Detail: Text Values) - EUR (€) € in Millions | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Net Interest Income [Abstract] | |||
Government grants under the (TLTRO II) program included in Other interest income | € 0 | € 43 | € 93 |
Government grants under the (TLTRO III)-program included in Other interest income | 494 | 86 | |
Group Lending under the TLTRO III-refinancing program | € 44,700 | € 37,500 |
Note 05 - Net Gains (Losses) on
Note 05 - Net Gains (Losses) on Financial Assets/Liabilities at Fair Value through Profit or Loss (Detail) - Net Gains (Losses) on Financial Assets/Liabilities at Fair Value through Profit or Loss [Member] - EUR (€) € in Millions | 12 Months Ended | |||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | ||
Total Fair Value [Domain Member] | ||||
Breakdown by financial assets/ liability category [Abstract] | ||||
Total net gains (losses) on financial assets/liabilities at fair value through profit or loss | € 3,139 | € 2,332 | € 193 | |
Trading Fair Value [Member] | ||||
Net Gains (Losses) on Financial Assets/Liabilities at Fair Value through Profit or Loss [Line Items] | ||||
FIC Sales & Trading | 2,780 | 3,457 | 2,563 | |
Other trading income (loss) | (827) | (1,360) | (2,366) | |
Total trading income (loss) | 1,954 | 2,097 | 197 | |
Non-Trading Fair Value [Member] | ||||
Breakdown by financial assets/ liability category [Abstract] | ||||
Debt securities | [1] | 95 | 5 | 72 |
Equity securities | [1] | 812 | 114 | 271 |
Loans and loan commitments | 18 | 38 | 28 | |
Deposits | 2 | (9) | 19 | |
Other non-trading finacial assets mandatory at fair value through profit and loss | 180 | 203 | 25 | |
Total net gains (losses) on non-trading financial assets mandatory at fair value through profit or loss | 1,106 | 276 | 377 | |
Designated Fair Value [Member] | ||||
Breakdown by financial assets/ liability category [Abstract] | ||||
Loans and loan commitments | 11 | 15 | 9 | |
Deposits | 5 | (1) | 0 | |
Long-term debt | 48 | (71) | (386) | |
Other financial assets/liabilities designated at fair value through profit or loss | 15 | 16 | 15 | |
Total net gains (losses) on financial assets/liabilities designated at fair value through profit or loss | € 79 | € (40) | € (381) | |
[1] | Prior year segmental information presented in the current structure. |
Note 05 - Combined Net Interest
Note 05 - Combined Net Interest Income and Net Gains (Losses) on Financial Assets/Liabilities at Fair Value through Profit or Loss (Detail) - EUR (€) € in Millions | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Combined Net Interest Income and Net Gains (Losses) on Financial Assets/Liabilities at Fair Value through Profit or Loss [Line Items] | |||
Net interest income | € 11,117 | € 11,548 | € 13,749 |
Trading income (loss) | 1,954 | 2,097 | 197 |
Net gains (losses) on non-trading financial assets mandatory at fair value through profit or loss | 1,106 | 276 | 377 |
Net gains (losses) on financial assets/liabilities designated at fair value through profit or loss | 79 | (40) | (381) |
Total net gains (losses) on financial assets/liabilities at fair value through profit or loss | 3,139 | 2,332 | 193 |
Net interest income and net gains (losses) on financial assets/liabilities at fair value through profit or loss | 14,256 | 13,880 | 13,942 |
Corporate Bank | 2,666 | 2,939 | 2,718 |
Investment Bank | 6,891 | 7,193 | 5,442 |
FIC Sales & Trading | 6,917 | 6,991 | 5,696 |
Remaining Products | (26) | 202 | (253) |
Private Bank | 4,847 | 4,648 | 4,991 |
Asset Management | 246 | (98) | 87 |
Capital Release Unit | (18) | (33) | 155 |
Corporate & Other | (375) | (768) | 549 |
Total net interest income and net gains (losses) on financial assets/liabilities at fair value through profit or loss | € 14,256 | € 13,880 | € 13,942 |
Note 06 - Commission and Fee In
Note 06 - Commission and Fee Income and Expense (Detail) - EUR (€) € in Millions | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Commission and fee income and expense: | |||
Commission and fee income | € 13,730 | € 12,044 | € 12,283 |
Commission and fee expense | 2,796 | 2,620 | 2,763 |
Net commissions and fee income | € 10,934 | € 9,424 | € 9,520 |
Note 06 - Disaggregation of rev
Note 06 - Disaggregation of revenues by product type and business segment - based on IFRS 15 (Detail) - EUR (€) € in Millions | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Total Consolidated Segments [Domain Member] | |||
Major type of services: [Abstract] | |||
Commissions for administration | € 539 | € 518 | € 521 |
Commissions for assets under management | 3,956 | 3,429 | 3,547 |
Commissions for other securities | 467 | 401 | 359 |
Underwriting and advisory fees | 2,264 | 1,688 | 1,656 |
Brokerage fees | 1,784 | 1,665 | 1,751 |
Commissions for local payments | 1,320 | 1,394 | 1,474 |
Commissions for foreign commercial business | 572 | 536 | 586 |
Commissions for foreign currency/exchange business | 16 | 11 | 15 |
Commissions for loan processing and guarantees | 1,157 | 1,058 | 989 |
Intermediary fees | 644 | 604 | 535 |
Fees for sundry other customer services | 1,011 | 741 | 850 |
Total commission and fee income | 13,730 | 12,044 | 12,283 |
Gross expense | (2,796) | (2,620) | (2,763) |
Net fees and commissions | 10,934 | 9,424 | 9,520 |
Corporate Bank [Member] | |||
Major type of services: [Abstract] | |||
Commissions for administration | 231 | 245 | 251 |
Commissions for assets under management | 16 | 19 | 22 |
Commissions for other securities | 423 | 365 | 330 |
Underwriting and advisory fees | 35 | 29 | 29 |
Brokerage fees | 22 | 21 | 13 |
Commissions for local payments | 441 | 436 | 497 |
Commissions for foreign commercial business | 456 | 409 | 455 |
Commissions for foreign currency/exchange business | 11 | 4 | 7 |
Commissions for loan processing and guarantees | 564 | 529 | 497 |
Intermediary fees | 12 | 9 | 35 |
Fees for sundry other customer services | 282 | 276 | 297 |
Total commission and fee income | 2,494 | 2,344 | 2,433 |
Investment Bank [Member] | |||
Major type of services: [Abstract] | |||
Commissions for administration | 27 | 17 | 8 |
Commissions for assets under management | 1 | 1 | 1 |
Commissions for other securities | 0 | 0 | 0 |
Underwriting and advisory fees | 2,258 | 1,688 | 1,568 |
Brokerage fees | 246 | 357 | 253 |
Commissions for local payments | 4 | (2) | 0 |
Commissions for foreign commercial business | 23 | 25 | 26 |
Commissions for foreign currency/exchange business | 0 | 0 | 0 |
Commissions for loan processing and guarantees | 279 | 210 | 189 |
Intermediary fees | 3 | 2 | 2 |
Fees for sundry other customer services | 562 | 289 | 349 |
Total commission and fee income | 3,403 | 2,588 | 2,395 |
Private Bank [Member] | |||
Major type of services: [Abstract] | |||
Commissions for administration | 259 | 235 | 234 |
Commissions for assets under management | 369 | 319 | 304 |
Commissions for other securities | 43 | 35 | 28 |
Underwriting and advisory fees | 12 | 13 | 15 |
Brokerage fees | 1,302 | 1,103 | 930 |
Commissions for local payments | 864 | 951 | 974 |
Commissions for foreign commercial business | 95 | 104 | 106 |
Commissions for foreign currency/exchange business | 5 | 6 | 7 |
Commissions for loan processing and guarantees | 305 | 305 | 281 |
Intermediary fees | 617 | 579 | 486 |
Fees for sundry other customer services | 40 | 39 | 54 |
Total commission and fee income | 3,910 | 3,689 | 3,419 |
Asset Management [Member] | |||
Major type of services: [Abstract] | |||
Commissions for administration | 21 | 23 | 23 |
Commissions for assets under management | 3,570 | 3,090 | 3,219 |
Commissions for other securities | 1 | 0 | 1 |
Underwriting and advisory fees | 0 | 0 | 0 |
Brokerage fees | 96 | 72 | 81 |
Commissions for local payments | 0 | 0 | 0 |
Commissions for foreign commercial business | 0 | 0 | 0 |
Commissions for foreign currency/exchange business | 0 | 0 | 0 |
Commissions for loan processing and guarantees | 0 | 0 | 0 |
Intermediary fees | 0 | 1 | 0 |
Fees for sundry other customer services | 121 | 131 | 127 |
Total commission and fee income | 3,809 | 3,317 | 3,451 |
Capital Release Unit [Member] | |||
Major type of services: [Abstract] | |||
Commissions for administration | 4 | 1 | 5 |
Commissions for assets under management | 0 | 0 | 1 |
Commissions for other securities | 0 | 0 | 1 |
Underwriting and advisory fees | 0 | 1 | 61 |
Brokerage fees | 118 | 113 | 470 |
Commissions for local payments | 0 | 0 | 1 |
Commissions for foreign commercial business | 0 | 0 | 0 |
Commissions for foreign currency/exchange business | 0 | 0 | 0 |
Commissions for loan processing and guarantees | 5 | 7 | 16 |
Intermediary fees | 0 | 1 | 1 |
Fees for sundry other customer services | 4 | 4 | 23 |
Total commission and fee income | 132 | 127 | 578 |
Corporate & Other [Member] | |||
Major type of services: [Abstract] | |||
Commissions for administration | (2) | (3) | 0 |
Commissions for assets under management | 0 | 0 | 1 |
Commissions for other securities | 0 | 0 | 0 |
Underwriting and advisory fees | (41) | (42) | (17) |
Brokerage fees | 0 | (1) | 4 |
Commissions for local payments | 10 | 8 | 2 |
Commissions for foreign commercial business | (2) | (3) | (1) |
Commissions for foreign currency/exchange business | 0 | 0 | 0 |
Commissions for loan processing and guarantees | 5 | 7 | 5 |
Intermediary fees | 11 | 12 | 11 |
Fees for sundry other customer services | 2 | 1 | 0 |
Total commission and fee income | € (18) | € (20) | € 7 |
Note 06 - Disaggregation of r_2
Note 06 - Disaggregation of revenues by product type and business segment - based on IFRS 15 (Detail: Text Values) - EUR (€) € in Millions | Dec. 31, 2021 | Dec. 31, 2020 |
Disaggregation of revenues by product type and business segment - based on IFRS 15 [Abstract] | ||
Unsatisfied performance obligations with an expected original maturity of more than one year | € 244 | € 66 |
Balance of receivables from commission and fee income | 834 | 876 |
Balance of contract liabilities associated to commission and fee income | € 70 | € 65 |
Note 07 - Gain and Losses on de
Note 07 - Gain and Losses on derecognition of Financial Assets at Amortized Cost (Detail) - EUR (€) € in Millions | 12 Months Ended | ||||
Dec. 31, 2021 | Dec. 31, 2020 | [1] | Dec. 31, 2019 | [1] | |
Gain and Losses on derecognition of Financial Assets at Amortized Cost [Abstract] | |||||
Gains | € 15 | € 344 | € 5 | ||
Losses | (15) | (33) | (2) | ||
Net gains (losses) from derecognition of securities measured at amortized cost | € 1 | € 311 | € 3 | ||
[1] | Prior years' comparatives aligned to presentation in the current year. |
Note 07 - Gain and Losses on _2
Note 07 - Gain and Losses on Derecognition of Financial Assets at Amortized Cost (Detail: Text Values) - EUR (€) € in Millions | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Derecognition of Financial Assets at amortized cost [Abstract] | |||
Total Derecognition | € 539 | € 10,000 | € 390 |
Note 08 - Other Income (Detail)
Note 08 - Other Income (Detail) - EUR (€) € in Millions | 12 Months Ended | |||||
Dec. 31, 2021 | Dec. 31, 2020 | [1] | Dec. 31, 2019 | |||
Other Income [Abstract] | ||||||
Insurance premiums | [1] | € 3 | € 3 | |||
Net income (loss) from hedge relationships qualifying for hedge accounting | 195 | € (214) | (635) | [1] | ||
Remaining other income (loss) | [2] | (185) | 162 | (40) | [1] | |
Total other income (loss) | € 13 | € (48) | € (671) | [1] | ||
[1] | Prior years' comparatives aligned to presentation in the current year. | |||||
[2] | Includes net gains (losses) of € 10 million € -59 million € 4 million |
Note 08 - Other Income (Detail_
Note 08 - Other Income (Detail: Text Values) - EUR (€) € in Millions | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Other Income [Abstract] | |||
Net gains (losses) related to non-current assets and disposal groups held for sale | € 10 | € 59 | € 4 |
Note 09 - General and Administr
Note 09 - General and Administrative Expenses (Detail) - EUR (€) € in Millions | 12 Months Ended | ||||||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |||||
General and administrative expenses [Abstract] | |||||||
Information Technology | € 4,321 | € 3,862 | € 5,011 | [1] | |||
Occupancy, furniture and equipment expenses | 1,727 | 1,724 | 1,693 | ||||
Regulatory, Tax and Insurance | 1,395 | [1] | 1,407 | [1] | 1,440 | ||
Professional services | [2] | 924 | 977 | 1,142 | |||
Banking services and outsourced operations | [2] | 946 | 967 | 969 | |||
Market Data and Research Services | 347 | 376 | 421 | ||||
Travel expenses | 46 | 76 | 256 | ||||
Marketing expenses | 178 | 174 | 251 | ||||
Other expenses | [3] | 938 | 697 | 1,070 | |||
Total general and administrative expenses | € 10,821 | € 10,259 | € 12,253 | ||||
[1] | Includes bank levy of € 553 million € 633 million € 622 million | ||||||
[2] | Prior years' comparatives aligned to presentation in the current year. | ||||||
[3] | Includes litigation related expenses of € 466 million € 158 million € 473 million |
Note 09 - General and Adminis_2
Note 09 - General and Administrative Expenses (Detail: Text Values) - EUR (€) € in Millions | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Regulatory, Tax & Insurance [Abstract] | |||
of which: bank levy | € 553 | € 633 | € 622 |
Other expenses [Abstract] | |||
of which: litigation related net expenses | € 466 | € 158 | € 473 |
Note 10 - Net Restructuring Exp
Note 10 - Net Restructuring Expense by Division (Detail) - EUR (€) € in Millions | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Corporate Bank [Member] | |||
Net Restructuring Expense by Division [Line Items] | |||
Total Net Restructuring Charges | € 42 | € 28 | € 137 |
Investment Bank [Member] | |||
Net Restructuring Expense by Division [Line Items] | |||
Total Net Restructuring Charges | 47 | 14 | 169 |
Private Bank [Member] | |||
Net Restructuring Expense by Division [Line Items] | |||
Total Net Restructuring Charges | 173 | 413 | 125 |
Asset Management [Member] | |||
Net Restructuring Expense by Division [Line Items] | |||
Total Net Restructuring Charges | 2 | 22 | 29 |
Capital Release Unit [Member] | |||
Net Restructuring Expense by Division [Line Items] | |||
Total Net Restructuring Charges | (2) | 5 | 143 |
Corporate & Other [Member] | |||
Net Restructuring Expense by Division [Line Items] | |||
Total Net Restructuring Charges | 0 | 3 | 41 |
Total Net Restructuring Charges [Member] | |||
Net Restructuring Expense by Division [Line Items] | |||
Total Net Restructuring Charges | € 261 | € 485 | € 644 |
Note 10 - Net Restructuring E_2
Note 10 - Net Restructuring Expense by Division (Detail: Text Values) - EUR (€) € in Millions | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 |
Net Restructuring Expense by Division | |||
Provisions for restructuring | € 582 | € 676 | € 684 |
Note 10 - Net Restructuring by
Note 10 - Net Restructuring by Type (Detail) - EUR (€) € in Millions | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Net Restructuring by Type | |||
Restructuring, Staff related | € 241 | € 479 | € 641 |
thereof: [Abstract] | |||
Termination Benefits | 224 | 441 | 476 |
Retention Acceleration | 16 | 36 | 156 |
Social Security | 1 | 1 | 9 |
Restructuring, Non Staff related | 21 | 6 | 2 |
Total Net Restructuring Charges | € 261 | € 485 | € 644 |
Note 10 - Organizational Change
Note 10 - Organizational Changes (Detail) | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Corporate Bank [Member] | |||
Organizational Changes [Line Items] | |||
Full-time equivalent staff, Organizational Changes | 228 | 303 | 138 |
Investment Bank [Member] | |||
Organizational Changes [Line Items] | |||
Full-time equivalent staff, Organizational Changes | 149 | 100 | 626 |
Private Bank [Member] | |||
Organizational Changes [Line Items] | |||
Full-time equivalent staff, Organizational Changes | 776 | 630 | 731 |
Asset Management [Member] | |||
Organizational Changes [Line Items] | |||
Full-time equivalent staff, Organizational Changes | 10 | 48 | 136 |
Capital Release Unit [Member] | |||
Organizational Changes [Line Items] | |||
Full-time equivalent staff, Organizational Changes | 13 | 69 | 514 |
Infrastructure [Member] | |||
Organizational Changes [Line Items] | |||
Full-time equivalent staff, Organizational Changes | 186 | 297 | 419 |
Total full-time equivalent staff [Member] | |||
Organizational Changes [Line Items] | |||
Full-time equivalent staff, Organizational Changes | 1,362 | 1,447 | 2,564 |
Note 11 - Computation of Earnin
Note 11 - Computation of Earnings per Share (Detail) - EUR (€) € in Millions, shares in Millions | 12 Months Ended | |||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | ||
Computation of Earnings per Share [Line Items] | ||||
Net income (loss) attributable to Deutsche Bank shareholders and additional equity components | € 2,451 | € 483 | € (5,390) | |
Coupon on additional equity components | (363) | (349) | (330) | |
Net income (loss) attributable to Deutsche Bank shareholders, numerator for basic earnings per share | € 2,088 | € 135 | € (5,719) | |
Effect of dilutive securities | 0 | 0 | 0 | |
Net income (loss) attributable to Deutsche Bank shareholders after assumed conversions, numerator for diluted earnings per share | € 2,088 | € 135 | € (5,719) | |
Number of shares in million [Abstract] | ||||
Weighted-average shares outstanding, denominator for basic earnings per share | 2,096.5 | 2,108.2 | 2,110 | |
Effect of dilutive securities: | ||||
Forwards | 0 | 0 | 0 | |
Employee stock compensation options | 0 | 0 | 0 | |
Deferred shares | 46.6 | 62 | 0 | |
Other (including trading options) | 0 | 0 | 0 | |
Dilutive potential common shares | 0 | 0 | 0 | |
Adjusted weighted-average shares after assumed conversions, denominator for diluted earnings per share | [1] | 2,143.2 | 2,170.1 | 2,110 |
[1] | Due to the net loss situation for 2019 potentially dilutive shares are generally not considered for the earnings per share calculation, because to do so would decrease the net loss per share. Under a net income situation however, the number of adjusted weighted average shares after assumed conversion would have been increased by 60 million |
Note 11 - Computation of Earn_2
Note 11 - Computation of Earnings per Share in Euro (Detail) - € / shares | 12 Months Ended | |||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | ||
Earnings per share [Abstract] | ||||
Basic earnings per share | [1] | € 1 | € 0.06 | € (2.71) |
Diluted earnings per share | [1] | € 0.97 | € 0.06 | € (2.71) |
[1] | Earnings were adjusted by € 363 million € 349 million € 330 million |
Note 11 - Instruments outstandi
Note 11 - Instruments outstanding and not included in the calculation of diuted earnings per share (Detail) - Outstanding and Not Included in the Calculation of Diluted Earnings per Share [Member] - shares | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Outstanding and Not Included in the Calculation of Diluted Earnings per Share [Line Items] | |||
Call options sold | 0 | 0 | 0 |
Employee stock compensation options | 0 | 0 | 0 |
Deferred shares | 0 | 0 | 117.6 |
Note 12 - Financial Assets at F
Note 12 - Financial Assets at Fair Value through Profit and Loss (Detail) - EUR (€) € in Millions | Dec. 31, 2021 | Dec. 31, 2020 | |
Total Fair Value [Domain Member] | |||
Financial Assets at Fair Value through Profit and Loss [Line Items] | |||
Total financial assets at fair value through profit or loss | € 491,233 | € 527,980 | |
Trading Financial Assets [Member] | |||
Financial Assets at Fair Value through Profit and Loss [Line Items] | |||
Trading securities | 92,536 | 97,756 | |
Other trading assets | [1] | 9,860 | 10,173 |
Total trading assets | 102,396 | 107,929 | |
Positive market values from derivative financial instruments | 299,732 | 343,493 | |
Total trading financial assets | 402,128 | 451,422 | |
Non-Trading Fair Value [Member] | |||
Financial Assets at Fair Value through Profit and Loss [Line Items] | |||
Securities purchased under resale agreement | 59,931 | 46,057 | |
Securities borrowed | 18,355 | 17,009 | |
Loans | 895 | 2,192 | |
Other financial assets mandatory at fair value through profit or loss | 9,784 | 10,864 | |
Total non-trading financial assets mandatory at fair value through profit or loss | 88,965 | 76,121 | |
Designated Fair Value [Member] | |||
Financial Assets at Fair Value through Profit and Loss [Line Items] | |||
Loans | 139 | 437 | |
Other financial assets mandatory at fair value through profit or loss | 0 | 0 | |
Total financial assets designated at fair value through profit or loss | € 140 | € 437 | |
[1] | Includes traded loans of € 9.2 billion € 8.3 billion |
Note 12 - Financial Assets at_2
Note 12 - Financial Assets at Fair Value through Profit and Loss (Detail: Text Values) - EUR (€) € in Thousands | Dec. 31, 2021 | Dec. 31, 2020 |
Financial Assets at Fair Value through Profit and Loss [Abstract] | ||
Traded loans included in "Other trading assets" | € 9,200,000 | € 8,300,000 |
Group's maximum exposure to credit risk on drawn loans, including securities purchased under resale agreements and securities borrowed | € 139,000 | € 437,000 |
Note 12 - Financial Liabilities
Note 12 - Financial Liabilities at Fair Value through Profit and Loss (Detail) - EUR (€) € in Millions | Dec. 31, 2021 | Dec. 31, 2020 |
Trading liabilities: | ||
Trading securities | € 54,235 | € 43,882 |
Other trading liabilities | 483 | 434 |
Total trading liabilities | 54,718 | 44,316 |
Negative market values from derivative financial instruments | 287,109 | 327,775 |
Total trading financial liabilities | 341,827 | 372,090 |
Financial liabilities designated at fair value through profit or loss: | ||
Securities sold under repurchase agreements | 53,364 | 41,636 |
Loan commitments | 7 | 2 |
Long-term debt | 3,699 | 3,374 |
Other financial liabilities designated at fair value through profit or loss | 1,397 | 1,570 |
Total financial liabilities designated at fair value through profit or loss | 58,468 | 46,582 |
Investment contract liabilities | 562 | 526 |
Total financial liabilities at fair value through profit or loss | € 400,857 | € 419,199 |
Note 12 - Changes in fair value
Note 12 - Changes in fair value of financial assets attributable to movements in counterparty credit risk (Detail) - Changes in fair value of of financial assets attributable to movements in couterparty credit risk [Member] - EUR (€) € in Millions | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Changes in fair value of financial assets attributable to movements in couterparty credit risk [line items] | ||
Notional value of financial assets exposed to credit risk | € 136 | € 439 |
Annual change in the fair value reflected in the Statement of Income | 1 | (8) |
Cumulative change in the fair value | 0 | 8 |
Notional of credit derivatives used to mitigate credit risk | 98 | 166 |
Annual change in the fair value reflected in the Statement of Income | 0 | 8 |
Cumulative change in the fair value | € 0 | € 8 |
Note 12 - Amounts realized on d
Note 12 - Amounts realized on derecognition of liabilities designated at FVtPL (Detail) € in Millions | 12 Months Ended |
Dec. 31, 2021EUR (€) | |
Amounts realized on derecognition of liabilities designated at FVtPL [Abstract] | |
Amount presented in other comprehensive income realized at derecognition | € 0 |
Note 12 - Changes in fair val_2
Note 12 - Changes in fair value of financial liabilities attributable to movements in the Groups credit risk (Detail) - EUR (€) € in Millions | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | ||
Presented in Other comprehensive Income [Member] | |||
Changes in Fair Value of Financial Liabilities Designated at Fair Value through Profit or Loss [Line Items] | |||
Cumulative change in the fair value | € 7 | € (12) | |
Presented in Statement of income [Member] | |||
Changes in Fair Value of Financial Liabilities Designated at Fair Value through Profit or Loss [Line Items] | |||
Annual change in the fair value reflected in the Statement of Income | [1] | 0 | |
Cumulative change in the fair value | € 0 | ||
[1] | The fair value of a financial liability incorporates the credit risk of that financial liability. Changes in the fair value of financial liabilities issued by consolidated structured entities have been excluded as this is not related to the Group’s credit risk but to that of the legally isolated structured entity, which is dependent on the collateral it holds. |
Note 12 - Transfers of the cumu
Note 12 - Transfers of the cumulative gains or losses within equity during the period (Detail) € in Millions | 12 Months Ended |
Dec. 31, 2021EUR (€) | |
Transfers of the cumulative gains or losses within equity during the period [Abstract] | |
Cumulative gains or losses within equity during the period | € 0 |
Note 12 - Excess of the Contrac
Note 12 - Excess of the Contractual Amount Repayable at Maturity over the Carrying Value of Financial Liabilities (Detail) - EUR (€) € in Millions | Dec. 31, 2021 | Dec. 31, 2020 | |
Excess of the Contractual Amount Repayable at Maturity over the Carrying Value of Financial Liabilities | |||
Including undrawn loan commitments | [1],[2] | € 2,943 | € 963 |
Excluding undrawn loan commitments | [1] | € 607 | € 159 |
[1] | Assuming the liability is extinguished at the earliest contractual maturity that the Group can be required to repay. When the amount payable is not fixed, it is determined by reference to conditions existing at the reporting date. | ||
[2] | The contractual cash flows at maturity for undrawn loan commitments assume full drawdown of the facility. |
Note 13 - Carrying Value of The
Note 13 - Carrying Value of The Financial Instruments held at Fair Value (Detail) - EUR (€) € in Millions | Dec. 31, 2021 | Dec. 31, 2020 | |||
Quoted prices in active market (Level 1) | |||||
Financial assets held at fair value: | |||||
Trading assets | [1] | € 51,020 | € 44,525 | ||
Trading securities | [1] | 50,814 | 44,349 | ||
Other trading assets | [1] | 206 | 176 | ||
Positive market values from derivative financial instruments | 4,354 | 4,208 | |||
Non-trading financial assets mandatory at fair value through profit and loss | [1] | 2,764 | 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] | 13,375 | 28,057 | ||
Other financial assets at fair value | [1] | 98 | 93 | ||
Total financial assets held at fair value | [1] | 71,611 | 79,875 | ||
Financial liabilities held at fair value: | |||||
Trading liabilities | [1] | 48,364 | 36,699 | ||
Trading securities | [1] | 48,363 | 36,674 | ||
Other trading liabilities | [1] | 0 | 25 | ||
Negative market values from derivative financial instruments | 5,208 | 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] | 5 | [2] | 799 | |
Total financial liabilities held at fair value | [1] | 53,576 | 41,929 | ||
Valuation technique observable parameters (Level 2) | |||||
Financial assets held at fair value: | |||||
Trading assets | [1] | 42,561 | 55,220 | ||
Trading securities | [1] | 38,108 | 50,340 | ||
Other trading assets | 4,453 | [1] | 4,880 | ||
Positive market values from derivative financial instruments | 286,337 | 330,561 | |||
Non-trading financial assets mandatory at fair value through profit and loss | [1] | 81,304 | 68,511 | ||
Financial assets designated at fair value through profit or loss | [1] | 91 | 436 | ||
Financial assets at fair value through other comprehensive income | [1] | 13,302 | 25,741 | ||
Other financial assets at fair value | [1] | 928 | [2] | 9,238 | |
Total financial assets held at fair value | [1] | 424,524 | 489,707 | ||
Financial liabilities held at fair value: | |||||
Trading liabilities | [1] | 6,272 | 7,615 | ||
Trading securities | [1] | 5,838 | 7,206 | ||
Other trading liabilities | [1] | 434 | 409 | ||
Negative market values from derivative financial instruments | 272,121 | 315,145 | |||
Financial liabilities designated at fair value through profit or loss | [1] | 56,728 | 45,622 | ||
Investment contract liabilities | [1] | 562 | 526 | ||
Other financial liabilities at fair value | [1] | 3,025 | 3,573 | [2] | |
Total financial liabilities held at fair value | [1] | 338,707 | 372,480 | ||
Valuation technique unobservable parameters (Level 3) [Member] | |||||
Financial assets held at fair value: | |||||
Trading assets | [1] | 8,815 | 8,183 | ||
Trading securities | [1] | 3,614 | 3,066 | ||
Other trading assets | [1] | 5,201 | 5,117 | ||
Positive market values from derivative financial instruments | 9,042 | 8,725 | |||
Non-trading financial assets mandatory at fair value through profit and loss | [1] | 4,896 | 4,618 | ||
Financial assets designated at fair value through profit or loss | [1] | 49 | 0 | ||
Financial assets at fair value through other comprehensive income | [1] | 2,302 | 2,037 | ||
Other financial assets at fair value | [1] | 78 | 20 | ||
Total financial assets held at fair value | [1] | 25,182 | 23,583 | ||
Financial liabilities held at fair value: | |||||
Trading liabilities | [1] | 83 | 2 | ||
Trading securities | [1] | 33 | 2 | ||
Other trading liabilities | [1] | 49 | 0 | ||
Negative market values from derivative financial instruments | 9,781 | 8,200 | |||
Financial liabilities designated at fair value through profit or loss | [1] | 1,740 | 960 | ||
Investment contract liabilities | [1] | 0 | 0 | ||
Other financial liabilities at fair value | [1],[3] | (179) | (294) | ||
Total financial liabilities held at fair value | [1] | € 11,424 | € 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”. | ||||
[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. |
Note 13 - Carrying Value of T_2
Note 13 - Carrying Value of The Financial Instruments held at Fair Value (Detail: Text Values) € in Millions | Dec. 31, 2021EUR (€) |
Quoted prices in active market (Level 1) | |
Carrying Value of The Financial Instruments held at Fair Value [Line Items] | |
Net movement of Trading Assets due to liquidity testing procedures refinement | € 5,000 |
Valuation technique unobservable parameters (Level 3) [Member] | |
Carrying Value of The Financial Instruments held at Fair Value [Line Items] | |
Net movement of Financial Assets at Fair Value through Other Comprehensive Income due to liquidity testing procedures refinement | 1,000 |
Movement of Financial Assets at Fair Value through Other Comprehensive Income due to levelling methodology for Strategic Corporate Lending loans | 200 |
Changes in Groups Level 3 assets due to market dislocations and increased market volatility caused by COVID-19 pandemic | 1,600 |
Changes in Groups Level 3 liabilities due to market dislocations and increased market volatility caused by COVID-19 pandemic | 2,600 |
Net movement from L2 into L3 of Trading Assets due to liquidity testing procedures refinement | € 2,000 |
Note 13 - Reconciliation of Fin
Note 13 - Reconciliation of Financial Instruments Categorized in Level 3 (Detail) - Valuation technique unobservable parameters (Level 3) [Member] - EUR (€) € in Millions | Dec. 31, 2021 | Dec. 31, 2020 | ||
Balance, beginning of period [Member] | ||||
Financial assets held at fair value [Abstract] | ||||
Trading securities | € 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 | 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 | (2) | (79) | ||
Positive market values from derivative financial instruments | 0 | 1 | ||
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 | (2) | (79) | ||
Financial liabilities held at fair value: | ||||
Trading securities | 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 | (263) | 101 | [1] | |
Positive market values from derivative financial instruments | 890 | 1,422 | ||
Other trading assets | 237 | [2] | (423) | [1] |
Non-trading financial assets mandatory at fair value through profit and loss | 425 | [2] | (256) | [1] |
Financial assets designated at fair value through profit or loss | 0 | [2] | (1) | [1],[3] |
Financial assets at fair value through other comprehensive income | 61 | [2],[4] | (66) | [1] |
Other financial assets at fair value | 2 | [2] | (9) | [1] |
Total financial assets held at fair value | 1,351 | [2],[5],[6] | 567 | [1],[7],[8] |
Financial liabilities held at fair value: | ||||
Trading securities | 0 | [2] | 2 | [1] |
Negative market values from derivative financial instruments | 509 | 2,108 | ||
Other trading liabilities | (15) | [2] | (1) | [1] |
Financial liabilities designated at fair value through profit or loss | 911 | [2] | 55 | [1] |
Other financial liabilities at fair value | (12) | [2] | 26 | [1] |
Total financial liabilities held at fair value | 1,393 | [2],[5],[6] | 2,185 | [1],[7],[8] |
Purchases [Member] | ||||
Financial assets held at fair value [Abstract] | ||||
Trading securities | 3,183 | 2,134 | ||
Positive market values from derivative financial instruments | 0 | 0 | ||
Other trading assets | 500 | 1,188 | ||
Non-trading financial assets mandatory at fair value through profit and loss | 493 | 389 | ||
Financial assets designated at fair value through profit or loss | 0 | 0 | ||
Financial assets at fair value through other comprehensive income | 53 | 127 | ||
Other financial assets at fair value | 0 | 0 | ||
Total financial assets held at fair value | 4,229 | 3,839 | ||
Financial liabilities held at fair value: | ||||
Trading securities | 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 | (2,445) | (1,628) | ||
Positive market values from derivative financial instruments | 0 | 0 | ||
Other trading assets | (2,194) | (2,712) | ||
Non-trading financial assets mandatory at fair value through profit and loss | (288) | (394) | ||
Financial assets designated at fair value through profit or loss | 0 | 0 | ||
Financial assets at fair value through other comprehensive income | (150) | (50) | ||
Other financial assets at fair value | 0 | 0 | ||
Total financial assets held at fair value | (5,076) | (4,784) | ||
Financial liabilities held at fair value: | ||||
Trading securities | 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 | 0 | [9] | 11 | [10] |
Positive market values from derivative financial instruments | 0 | 0 | ||
Other trading assets | 2,868 | [9] | 1,855 | [10] |
Non-trading financial assets mandatory at fair value through profit and loss | 243 | [9] | 347 | [10] |
Financial assets designated at fair value through profit or loss | 48 | [9] | 6 | [10] |
Financial assets at fair value through other comprehensive income | 662 | [9] | 718 | [10] |
Other financial assets at fair value | 0 | [9] | 0 | [10] |
Total financial assets held at fair value | 3,821 | [9] | 2,937 | [10] |
Financial liabilities held at fair value: | ||||
Trading securities | 0 | [9] | 0 | [10] |
Negative market values from derivative financial instruments | 0 | 0 | ||
Other trading liabilities | 0 | [9] | 0 | [10] |
Financial liabilities designated at fair value through profit or loss | 96 | [9] | 186 | [10] |
Other financial liabilities at fair value | 0 | [9] | 0 | [10] |
Total financial liabilities held at fair value | 96 | [9] | 186 | [10] |
Settlements [Member] | ||||
Financial assets held at fair value [Abstract] | ||||
Trading securities | (106) | (423) | ||
Positive market values from derivative financial instruments | (727) | (833) | ||
Other trading assets | (1,635) | [11] | (1,207) | [12] |
Non-trading financial assets mandatory at fair value through profit and loss | (733) | [11] | (811) | [12] |
Financial assets designated at fair value through profit or loss | 0 | [11] | (12) | [12] |
Financial assets at fair value through other comprehensive income | (560) | [11] | (182) | [12] |
Other financial assets at fair value | (17) | [11] | 4 | [12] |
Total financial assets held at fair value | (3,777) | [11] | (3,463) | [12] |
Financial liabilities held at fair value: | ||||
Trading securities | 0 | [11] | 1 | [12] |
Negative market values from derivative financial instruments | (367) | (365) | ||
Other trading liabilities | 0 | [11] | (9) | [12] |
Financial liabilities designated at fair value through profit or loss | (314) | [11] | (763) | [12] |
Other financial liabilities at fair value | 33 | [11] | (16) | [12] |
Total financial liabilities held at fair value | (647) | [11] | (1,151) | [12] |
Transfers into Level 3 [Member] | ||||
Financial assets held at fair value [Abstract] | ||||
Trading securities | 766 | [11],[13] | 333 | [12],[14] |
Positive market values from derivative financial instruments | 2,938 | 1,541 | ||
Other trading assets | 714 | [11],[13] | 710 | [12],[14] |
Non-trading financial assets mandatory at fair value through profit and loss | 1,064 | [11],[13] | 852 | [12],[14] |
Financial assets designated at fair value through profit or loss | 0 | [11],[13] | 0 | [12],[14] |
Financial assets at fair value through other comprehensive income | 350 | [11],[13] | 618 | [12],[14] |
Other financial assets at fair value | 0 | [11],[13] | (147) | [12],[14] |
Total financial assets held at fair value | 5,831 | [11],[13] | 3,906 | [12],[14] |
Financial liabilities held at fair value: | ||||
Trading securities | 33 | [11],[13] | 0 | [12],[14] |
Negative market values from derivative financial instruments | 3,059 | 1,420 | ||
Other trading liabilities | 64 | [11],[13] | 0 | [12],[14] |
Financial liabilities designated at fair value through profit or loss | 198 | [11],[13] | 215 | [12],[14] |
Other financial liabilities at fair value | 13 | [11],[13] | (187) | [12],[14] |
Total financial liabilities held at fair value | 3,367 | [11],[13] | 1,448 | [12],[14] |
Transfers out of Level 3 [Member] | ||||
Financial assets held at fair value [Abstract] | ||||
Trading securities | (585) | (612) | ||
Positive market values from derivative financial instruments | (2,783) | (1,572) | ||
Other trading assets | (406) | [11],[13] | (433) | [12],[14] |
Non-trading financial assets mandatory at fair value through profit and loss | (926) | [11],[13] | (786) | [12],[14] |
Financial assets designated at fair value through profit or loss | 0 | [11],[13] | 0 | [12],[14] |
Financial assets at fair value through other comprehensive income | (150) | [11],[13] | (177) | [12],[14] |
Other financial assets at fair value | 74 | [11],[13] | (191) | [12],[14] |
Total financial assets held at fair value | (4,777) | [11],[13] | (3,771) | [12],[14] |
Financial liabilities held at fair value: | ||||
Trading securities | (2) | 0 | [12],[14] | |
Negative market values from derivative financial instruments | (1,620) | (1,615) | ||
Other trading liabilities | 0 | [11],[13] | (28) | [12],[14] |
Financial liabilities designated at fair value through profit or loss | (112) | [11],[13] | (687) | [12],[14] |
Other financial liabilities at fair value | 81 | [11],[13] | (83) | [12],[14] |
Total financial liabilities held at fair value | (1,652) | [11],[13] | (2,413) | [12],[14] |
Balance financial instruments Level 3 - end of period [Member] | ||||
Financial assets held at fair value [Abstract] | ||||
Trading securities | 3,614 | 3,066 | ||
Positive market values from derivative financial instruments | 9,042 | 8,725 | ||
Other trading assets | 5,201 | 5,117 | ||
Non-trading financial assets mandatory at fair value through profit and loss | 4,896 | 4,618 | ||
Financial assets designated at fair value through profit or loss | 49 | 0 | ||
Financial assets at fair value through other comprehensive income | 2,302 | 2,037 | ||
Other financial assets at fair value | 78 | 20 | ||
Total financial assets held at fair value | 25,182 | 23,583 | ||
Financial liabilities held at fair value: | ||||
Trading securities | 33 | |||
Negative market values from derivative financial instruments | 9,781 | 8,200 | ||
Other trading liabilities | 49 | 0 | ||
Financial liabilities designated at fair value through profit or loss | 1,740 | 960 | ||
Other financial liabilities at fair value | (179) | (294) | ||
Total financial liabilities held at fair value | € 11,424 | € 8,867 | ||
[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 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. | |||
[3] | Total gains and losses on financial assets at fair value through other comprehensive income include a gain of € 11 million | |||
[4] | Total gains and losses on financial assets at fair value through other comprehensive income include a loss of € 13 million | |||
[5] | For assets positive balances represent gains, negative balances represent losses. For liabilities positive balances represent losses, negative balances represent gains. | |||
[6] | This amount includes the effect of exchange rate changes. For total financial assets held at fair value this effect is a gain of € 447 million € 44 million | |||
[7] | For assets positive balances represent gains, negative balances represent losses. For liabilities positive balances represent losses, negative balances represent gains. | |||
[8] | This amount includes the effect of exchange rate changes. For total financial assets held at fair value this effect is a loss of € 495 million € 66 million | |||
[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 year they are recorded at their fair value at the beginning of year. For instruments transferred into Level 3 the table shows the gains and losses and cash flows on the instruments as if they had been transferred at the beginning of the year. Similarly, for instruments transferred out of Level 3 the table does not show any gains or losses or cash flows on the instruments during the year since the table is presented as if they have been transferred out at the beginning of the year. | |||
[14] | Transfers in and transfers out of Level 3 are related to changes in observability of input parameters. During the year they are recorded at their fair value at the beginning of year. For instruments transferred into Level 3 the table shows the gains and losses and cash flows on the instruments as if they had been transferred at the beginning of the year. Similarly, for instruments transferred out of Level 3 the table does not show any gains or losses or cash flows on the instruments during the year since the table is presented as if they have been transferred out at the beginning of the year. |
Note 13 - Reconciliation of F_2
Note 13 - Reconciliation of Financial Instruments Categorized in Level 3 (Detail: Text Values) - Carrying Value of Financial Instruments held at Fair Value [Member] - EUR (€) € in Millions | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Financial assets at fair value through other comprehensive income [Abstract] | ||
therein gain (loss) recognized in other comprehensive income, net of tax | € 13 | € 11 |
Financial assets held at fair value: | ||
therein effect of exchange rate changes | 447 | 495 |
Financial liabilities held at fair value: | ||
therein effect of exchange rate changes | € 44 | € 66 |
Note 13 - Sensitivity Analysis
Note 13 - Sensitivity Analysis by Type of Instrument (Detail) - Valuation technique unobservable parameters (Level 3) [Member] - EUR (€) € in Millions | Dec. 31, 2021 | Dec. 31, 2020 | |||
Positive fair value movement from using reasonable possible alternatives [Member] | |||||
Securities: | |||||
Debt securities | € 267 | [1] | € 287 | ||
Commercial mortgage-backed securities | 18 | [1] | 9 | ||
Mortgage and other asset-backed securities | 13 | [1] | 20 | ||
Corporate, sovereign and other debt securities | 236 | [1] | 259 | ||
Equity securities | 94 | [1] | 83 | ||
Derivatives [Abstract] | |||||
Credit | 163 | [1] | 283 | ||
Equity | 105 | [1] | 257 | ||
Interest related | 409 | [1] | 306 | ||
Foreign exchange | 34 | [1] | 37 | ||
Other | 98 | [1] | 93 | ||
Loans [Abstract] | |||||
Loans | 570 | [1] | 483 | ||
Other | 0 | [1] | 0 | ||
Total | 1,739 | [1] | 1,829 | ||
Negative fair value movement from using reasonable possible alternatives [Member] | |||||
Securities: | |||||
Debt securities | [1] | 256 | 201 | [2] | |
Commercial mortgage-backed securities | [1] | 15 | 22 | ||
Mortgage and other asset-backed securities | [1] | 9 | 12 | ||
Corporate, sovereign and other debt securities | [1] | 233 | 167 | [2] | |
Equity securities | [1] | 65 | 57 | [2] | |
Derivatives [Abstract] | |||||
Credit | [1] | 109 | 185 | ||
Equity | [1] | 100 | 238 | ||
Interest related | [1] | 232 | 266 | ||
Foreign exchange | [1] | 31 | 32 | ||
Other | [1] | 82 | 82 | ||
Loans [Abstract] | |||||
Loans | [1] | 340 | 306 | ||
Other | [1] | 0 | 0 | ||
Total | [1] | € 1,215 | € 1,367 | ||
[1] | 1 | ||||
[2] | Reassessment of trades have resulted a reclassification in Positive and Negative fair value movement from using reasonable possible alternatives in ‘Corporate, sovereign and other debt securities’ from ‘Equity securities’. |
Note 23 - Sensitivity Analysis
Note 23 - Sensitivity Analysis by Type Parenthetical Information (Detail: Text Values) - Valuation technique unobservable parameters (Level 3) [Member] € in Millions | 12 Months Ended |
Dec. 31, 2021EUR (€) | |
Positive fair value movement from using reasonable possible alternatives [Member] | |
Sensitivity Analysis by Type of Instrument [Line Items] | |
Changes in sensitive amounts during the year | € 90 |
Negative fair value movement from using reasonable possible alternatives [Member] | |
Sensitivity Analysis by Type of Instrument [Line Items] | |
Changes in sensitive amounts during the year | € 152 |
Note 13 - Quantitative Informat
Note 13 - Quantitative Information about Fair Value (Level 3) (Detail) - Valuation technique unobservable parameters (Level 3) [Member] € in Millions | 12 Months Ended | |||
Dec. 31, 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 | € 47 | € 28 | ||
Mortgage and other asset-backed securities | 81 | 155 | ||
Total mortgage- and other asset-backed securities | 128 | 183 | ||
Debt securities and other debt obligations [Abstract] | ||||
Debt securites and other debt obligations | 5,074 | 4,625 | ||
Equity securities [Abstract] | ||||
Equity securities | 660 | 727 | ||
Loans, at fair value [Abstract] | ||||
Loans, at Fair Value | 8,184 | 7,888 | ||
Loan commitments (financial instruments) | 0 | 0 | ||
Other financial instruments | 2,016 | [1] | 1,432 | [2] |
Total non-derivative financial instruments held at fair value | 16,062 | 14,854 | ||
Financial instruments held at fair value, Market values from derivative financial instruments: | ||||
Interest rates derivatives | 4,725 | 4,708 | ||
Credit derivatives | 686 | 575 | ||
Equity derivatives | 766 | 800 | ||
FX derivatives | 1,816 | 1,749 | ||
Other derivatives | 1,127 | 898 | ||
Total market values from derivative financial instruments | 9,120 | 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 | 1,654 | 769 | ||
Equity securities [Abstract] | ||||
Equity securities | 0 | 0 | ||
Loans, at fair value [Abstract] | ||||
Loans, at Fair Value | 49 | 0 | ||
Loan commitments (financial instruments) | 7 | 1 | ||
Other financial instruments | 112 | [3] | 198 | [4] |
Total non-derivative financial instruments held at fair value | 1,823 | 968 | ||
Financial instruments held at fair value, Market values from derivative financial instruments: | ||||
Interest rates derivatives | 4,724 | 4,025 | ||
Credit derivatives | 827 | 585 | ||
Equity derivatives | 1,749 | 1,916 | ||
FX derivatives | 1,913 | 1,427 | ||
Other derivatives | 388 | [5] | (54) | [6] |
Total market values from derivative financial instruments | € 9,601 | € 7,899 | ||
Financial Instruments classified in Level 3, Valuation Techniques, Significant unobservable input, Range Bottom [Member] | 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 | 0.00% | 0.00% | ||
Mortgage and other asset-backed securities, significant unobsevable input, percent | 0.00% | 0.00% | ||
Debt securities and other debt obligations [Abstract] | ||||
Debt securities and other debt obligations, significant unobservable input, percent | 0.00% | 0.00% | ||
Equity securities [Abstract] | ||||
Equity securities, significant unobservable input, percent | 0.00% | 0.00% | ||
Loans, at fair value [Abstract] | ||||
Loans, significant unobservable input, percent | 0.00% | 0.00% | ||
Financial Instruments classified in Level 3, Valuation Techniques, Significant unobservable input, Range Bottom [Member] | 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 | 81 | 133 | ||
Mortgage and other asset-backed securities, significant unobservable input, absolute | 85 | 109 | ||
Debt securities and other debt obligations [Abstract] | ||||
Debt securities and other debt obligations, significant unobservable input, absolute | 12 | 21 | ||
Loans, at fair value [Abstract] | ||||
Loans, significant unobservable input, absolute | 34 | 51 | ||
Loan commitments, significant unobservable input, absolute | 128 | 6 | ||
Financial instruments held at fair value, Market values from derivative financial instruments: | ||||
Credit derivatives, significant unobservable input, absolute | 2 | 0 | ||
Other derivatives, significant unobservable input, absolute | 0 | 0 | ||
Financial Instruments classified in Level 3, Valuation Techniques, Significant unobservable input, Range Bottom [Member] | 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 | 0.00% | 10.00% | ||
Loans, at fair value [Abstract] | ||||
Loans, significant unobservable input, percent | 40.00% | 20.00% | ||
Loan commitments, significant unobservable input, percent | 40.00% | 25.00% | ||
Financial instruments held at fair value, Market values from derivative financial instruments: | ||||
Credit derivatives, significant unobservable input, percent | 0.00% | 0.00% | ||
Financial Instruments classified in Level 3, Valuation Techniques, Significant unobservable input, Range Bottom [Member] | 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 | 0.00% | 1.00% | ||
Financial instruments held at fair value, Market values from derivative financial instruments: | ||||
Interest rates derivatives, significant unobservable input, percent | 0.00% | 0.00% | ||
Financial Instruments classified in Level 3, Valuation Techniques, Significant unobservable input, Range Bottom [Member] | 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 | 0.00% | 1.00% | ||
Financial instruments held at fair value, Market values from derivative financial instruments: | ||||
Interest rates derivatives, significant unobservable input, percent | 4.00% | 2.00% | ||
Financial Instruments classified in Level 3, Valuation Techniques, Significant unobservable input, Range Bottom [Member] | Discounted Cashflow | Weighted average cost capital, in percent [Member] | ||||
Equity securities [Abstract] | ||||
Equity securities, significant unobservable input, percent | 6.00% | 8.00% | ||
Financial Instruments classified in Level 3, Valuation Techniques, Significant unobservable input, Range Bottom [Member] | Discounted Cashflow | IRR, in percent [Member] | ||||
Loans, at fair value [Abstract] | ||||
Other financial instruments, significant unobservable input, percent | 7.00% | 7.00% | ||
Financial Instruments classified in Level 3, Valuation Techniques, Significant unobservable input, Range Bottom [Member] | Discounted Cashflow | Repo Rate, in bps [Member] | ||||
Loans, at fair value [Abstract] | ||||
Other financial instruments, significant unobservable input, absolute | (27) | 0 | ||
Financial Instruments classified in Level 3, Valuation Techniques, Significant unobservable input, Range Bottom [Member] | 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 | (80) | (77) | ||
Financial Instruments classified in Level 3, Valuation Techniques, Significant unobservable input, Range Bottom [Member] | 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 | 1.00% | 1.00% | ||
Financial Instruments classified in Level 3, Valuation Techniques, Significant unobservable input, Range Bottom [Member] | Market Approach | Price, in percent [Member] | ||||
Equity securities [Abstract] | ||||
Equity securities, significant unobservable input, percent | 0.00% | 42.00% | ||
Financial Instruments classified in Level 3, Valuation Techniques, Significant unobservable input, Range Bottom [Member] | Market Approach | Enterprise value EBITDA, multiple [Member] | ||||
Equity securities [Abstract] | ||||
Equity securities, significant unobservable input, absolute | 5 | 5 | ||
Financial Instruments classified in Level 3, Valuation Techniques, Significant unobservable input, Range Bottom [Member] | Loan pricing model | Utilization, in percent [Member] | ||||
Loans, at fair value [Abstract] | ||||
Loan commitments, significant unobservable input, percent | 0.00% | 0.00% | ||
Financial Instruments classified in Level 3, Valuation Techniques, Significant unobservable input, Range Bottom [Member] | 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 | 0.00% | 0.00% | ||
Financial Instruments classified in Level 3, Valuation Techniques, Significant unobservable input, Range Bottom [Member] | 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 | 0.00% | 0.00% | ||
Financial Instruments classified in Level 3, Valuation Techniques, Significant unobservable input, Range Bottom [Member] | 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 | (1.00%) | (25.00%) | ||
Financial Instruments classified in Level 3, Valuation Techniques, Significant unobservable input, Range Bottom [Member] | 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 | (70.00%) | (70.00%) | ||
Financial Instruments classified in Level 3, Valuation Techniques, Significant unobservable input, Range Bottom [Member] | 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 | 25.00% | 4.00% | ||
Financial Instruments classified in Level 3, Valuation Techniques, Significant unobservable input, Range Bottom [Member] | 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 | 11.00% | 17.00% | ||
Other derivatives, significant unobservable input, percent | 0.00% | 0.00% | ||
Financial Instruments classified in Level 3, Valuation Techniques, Significant unobservable input, Range Bottom [Member] | Option pricing model | Index Correlation [Member] | ||||
Financial instruments held at fair value, Market values from derivative financial instruments: | ||||
Equity derivatives, significant unobservable input, absolute | 88 | 68 | ||
Financial Instruments classified in Level 3, Valuation Techniques, Significant unobservable input, Range Bottom [Member] | 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 | 0.00% | 41.00% | ||
Financial Instruments classified in Level 3, Valuation Techniques, Significant unobservable input, Range Bottom [Member] | 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 | 0.00% | 0.00% | ||
Financial Instruments classified in Level 3, Valuation Techniques, Significant unobservable input, Range Bottom [Member] | 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 | 0.00% | 0.00% | ||
Financial Instruments classified in Level 3, Valuation Techniques, Significant unobservable input, Range Bottom [Member] | 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 | (33.00%) | (16.00%) | ||
Financial Instruments classified in Level 3, Valuation Techniques, Significant unobservable input, Range Bottom [Member] | 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 | 15.00% | 16.00% | ||
Financial Instruments classified in Level 3, Valuation Techniques, Significant unobservable input, Range Bottom [Member] | Option pricing model | Quoted volatility [Member] | ||||
Financial instruments held at fair value, Market values from derivative financial instruments: | ||||
FX derivatives, significant unobservable input, percent | 0.00% | 0.00% | ||
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 | 30.00% | 31.00% | ||
Financial Instruments classified in Level 3, Valuation Techniques, Significant unobservable input, Range Top [Member] | 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 | 114.00% | 114.00% | ||
Mortgage and other asset-backed securities, significant unobsevable input, percent | 112.00% | 106.00% | ||
Debt securities and other debt obligations [Abstract] | ||||
Debt securities and other debt obligations, significant unobservable input, percent | 212.00% | 200.00% | ||
Equity securities [Abstract] | ||||
Equity securities, significant unobservable input, percent | 139.00% | 108.00% | ||
Loans, at fair value [Abstract] | ||||
Loans, significant unobservable input, percent | 275.00% | 373.00% | ||
Financial Instruments classified in Level 3, Valuation Techniques, Significant unobservable input, Range Top [Member] | 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 | 1,235 | 1,270 | ||
Mortgage and other asset-backed securities, significant unobservable input, absolute | 1,495 | 1,295 | ||
Debt securities and other debt obligations [Abstract] | ||||
Debt securities and other debt obligations, significant unobservable input, absolute | 571 | 544 | ||
Loans, at fair value [Abstract] | ||||
Loans, significant unobservable input, absolute | 2,117 | 2,233 | ||
Loan commitments, significant unobservable input, absolute | 906 | 2,444 | ||
Financial instruments held at fair value, Market values from derivative financial instruments: | ||||
Credit derivatives, significant unobservable input, absolute | 6,630 | 1,759 | ||
Other derivatives, significant unobservable input, absolute | 0 | 0 | ||
Financial Instruments classified in Level 3, Valuation Techniques, Significant unobservable input, Range Top [Member] | 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 | 85.00% | 90.00% | ||
Loans, at fair value [Abstract] | ||||
Loans, significant unobservable input, percent | 85.00% | 85.00% | ||
Loan commitments, significant unobservable input, percent | 75.00% | 100.00% | ||
Financial instruments held at fair value, Market values from derivative financial instruments: | ||||
Credit derivatives, significant unobservable input, percent | 40.00% | 77.00% | ||
Financial Instruments classified in Level 3, Valuation Techniques, Significant unobservable input, Range Top [Member] | 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 | 2.00% | 2.00% | ||
Financial instruments held at fair value, Market values from derivative financial instruments: | ||||
Interest rates derivatives, significant unobservable input, percent | 20.00% | 10.00% | ||
Financial Instruments classified in Level 3, Valuation Techniques, Significant unobservable input, Range Top [Member] | 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 | 27.00% | 25.00% | ||
Financial instruments held at fair value, Market values from derivative financial instruments: | ||||
Interest rates derivatives, significant unobservable input, percent | 24.00% | 30.00% | ||
Financial Instruments classified in Level 3, Valuation Techniques, Significant unobservable input, Range Top [Member] | Discounted Cashflow | Weighted average cost capital, in percent [Member] | ||||
Equity securities [Abstract] | ||||
Equity securities, significant unobservable input, percent | 20.00% | 20.00% | ||
Financial Instruments classified in Level 3, Valuation Techniques, Significant unobservable input, Range Top [Member] | Discounted Cashflow | IRR, in percent [Member] | ||||
Loans, at fair value [Abstract] | ||||
Other financial instruments, significant unobservable input, percent | 16.00% | 16.00% | ||
Financial Instruments classified in Level 3, Valuation Techniques, Significant unobservable input, Range Top [Member] | Discounted Cashflow | Repo Rate, in bps [Member] | ||||
Loans, at fair value [Abstract] | ||||
Other financial instruments, significant unobservable input, absolute | 400 | 75 | ||
Financial Instruments classified in Level 3, Valuation Techniques, Significant unobservable input, Range Top [Member] | 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 | 817 | 787 | ||
Financial Instruments classified in Level 3, Valuation Techniques, Significant unobservable input, Range Top [Member] | 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 | 5.00% | 3.00% | ||
Financial Instruments classified in Level 3, Valuation Techniques, Significant unobservable input, Range Top [Member] | Market Approach | Price, in percent [Member] | ||||
Equity securities [Abstract] | ||||
Equity securities, significant unobservable input, percent | 101.00% | 100.00% | ||
Financial Instruments classified in Level 3, Valuation Techniques, Significant unobservable input, Range Top [Member] | Market Approach | Enterprise value EBITDA, multiple [Member] | ||||
Equity securities [Abstract] | ||||
Equity securities, significant unobservable input, absolute | 17 | 23 | ||
Financial Instruments classified in Level 3, Valuation Techniques, Significant unobservable input, Range Top [Member] | Loan pricing model | Utilization, in percent [Member] | ||||
Loans, at fair value [Abstract] | ||||
Loan commitments, significant unobservable input, percent | 100.00% | 100.00% | ||
Financial Instruments classified in Level 3, Valuation Techniques, Significant unobservable input, Range Top [Member] | 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 | 9.00% | 8.00% | ||
Financial Instruments classified in Level 3, Valuation Techniques, Significant unobservable input, Range Top [Member] | 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 | 31.00% | 19.00% | ||
Financial Instruments classified in Level 3, Valuation Techniques, Significant unobservable input, Range Top [Member] | 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 | 99.00% | 97.00% | ||
Financial Instruments classified in Level 3, Valuation Techniques, Significant unobservable input, Range Top [Member] | 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 | 100.00% | 100.00% | ||
Financial Instruments classified in Level 3, Valuation Techniques, Significant unobservable input, Range Top [Member] | 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 | 68.00% | 85.00% | ||
Financial Instruments classified in Level 3, Valuation Techniques, Significant unobservable input, Range Top [Member] | 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 | 80.00% | 75.00% | ||
Other derivatives, significant unobservable input, percent | 131.00% | 113.00% | ||
Financial Instruments classified in Level 3, Valuation Techniques, Significant unobservable input, Range Top [Member] | Option pricing model | Index Correlation [Member] | ||||
Financial instruments held at fair value, Market values from derivative financial instruments: | ||||
Equity derivatives, significant unobservable input, absolute | 91 | 96 | ||
Financial Instruments classified in Level 3, Valuation Techniques, Significant unobservable input, Range Top [Member] | 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 | 0.00% | 67.00% | ||
Financial Instruments classified in Level 3, Valuation Techniques, Significant unobservable input, Range Top [Member] | 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 | 9.00% | 5.00% | ||
Financial Instruments classified in Level 3, Valuation Techniques, Significant unobservable input, Range Top [Member] | 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 | 5.00% | 4.00% | ||
Financial Instruments classified in Level 3, Valuation Techniques, Significant unobservable input, Range Top [Member] | 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 | 59.00% | 42.00% | ||
Financial Instruments classified in Level 3, Valuation Techniques, Significant unobservable input, Range Top [Member] | 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 | 86.00% | 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 | 63.00% | 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 | € 3,383 | € 2,813 | ||
Corporate, sovereign and other debt securities (held for trading) | 3,383 | 2,813 | ||
Equity securities [Abstract] | ||||
Equity securities | 103 | 70 | ||
Loans, at fair value [Abstract] | ||||
Loans, at Fair Value | 5,188 | 5,101 | ||
Assets: Non-Trading Financial Assets mandatory at fair value through profit or loss [Member] | Fair Value Level 3 | Fair Value Level 3 | ||||
Debt securities and other debt obligations [Abstract] | ||||
Corporate, sovereign and other debt securities (held for trading) | 1,568 | |||
Equity securities [Abstract] | ||||
Equity securities | 557 | 657 | ||
Loans, at fair value [Abstract] | ||||
Loans, at Fair Value | 769 | 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 | |||
Corporate, sovereign and other debt securities (held for trading) | 0 | 1,652 | ||
Equity securities [Abstract] | ||||
Equity securities | 0 | 0 | ||
Loans, at fair value [Abstract] | ||||
Loans, at Fair Value | 48 | 0 | ||
Assets: Financial Assets at fair value through OCI [Member] | Fair Value Level 3 | Fair Value Level 3 | ||||
Debt securities and other debt obligations [Abstract] | ||||
Debt securites and other debt obligations | 160 | |||
Corporate, sovereign and other debt securities (held for trading) | 123 | |||
Loans, at fair value [Abstract] | ||||
Loans, at Fair Value | 2,179 | 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 | 33 | 2 | ||
Equity securities [Abstract] | ||||
Equity securities | 0 | 0 | ||
Loans, at fair value [Abstract] | ||||
Loans, at Fair Value | 49 | 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 | 1,621 | 768 | ||
Loans, at fair value [Abstract] | ||||
Loans, at Fair Value | € 0 | € 0 | ||
[1] | Other financial assets include € 13 million € 2.0 billion | |||
[2] | Other financial assets include € 16 million € 1.4 billion | |||
[3] | Other financial liabilities include € 112 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] | 1 |
Note 13 - Quantitative Inform_2
Note 13 - Quantitative Information about Fair Value (Level 3) (Detail: Text Values) - Valuation technique unobservable parameters (Level 3) [Member] - EUR (€) € in Millions | Dec. 31, 2021 | Dec. 31, 2020 |
Assets [Member] | ||
Non-derivative other financial instruments held at fair value, Included in other financial assets [Abstract] | ||
Other trading assets | € 13 | € 16 |
Other financial assets mandatory at fair value through profit or loss | 2,000 | 1,400 |
Liabilities [Member] | ||
Included in other financial liabilities [Abstract] | ||
Securities sold under repurchase agreements designated at fair value | € 112 | 192 |
Other financial liabilities designated at fair value | € 6 |
Note 13 - Unrealized Gains or L
Note 13 - 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) [Member] - EUR (€) € in Millions | Dec. 31, 2021 | Dec. 31, 2020 |
Financial assets held at fair value [Abstract] | ||
Trading securities | € 332 | € 38 |
Positive market values from derivative financial instruments | 1,556 | 2,589 |
Other trading assets | 93 | (248) |
Non-trading financial assets mandatory at fair value through profit and loss | 241 | (14) |
Financial assets designated at fair value through profit or loss | 0 | 0 |
Financial assets at fair value through other comprehensive income | 0 | 20 |
Other financial assets at fair value | 3 | 4 |
Total financial assets held at fair value | 1,560 | 2,389 |
Financial liabilities held at fair value Abstract, Gains or Losses | ||
Trading securities | 0 | 0 |
Negative market values from derivative financial instruments | (1,292) | (2,536) |
Other trading liabilities | 15 | 0 |
Financial liabilities designated at fair value through profit or loss | (895) | 53 |
Other financial liabilities at fair value | 8 | (26) |
Total financial liabilities held at fair value | (2,165) | (2,510) |
Total | € (604) | € (121) |
Note 13 - Recognitions of Trade
Note 13 - Recognitions of Trade Date Profit (Detail) - EUR (€) € in Millions | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Recognitions of Trade Date Profit | ||
Balance, beginning of year | € 454 | € 441 |
New trades during the period | 212 | 308 |
Amortization | (142) | (140) |
Matured trades | (61) | (130) |
Subsequent move to observability | (4) | (22) |
Exchange rate changes | 2 | (4) |
Balance, end of year | € 462 | € 454 |
Note 14 - Estimated Fair Value
Note 14 - Estimated Fair Value of the Financial Instruments not carried at Fair Value (Detail) - EUR (€) € in Thousands | Dec. 31, 2021 | Dec. 31, 2020 | |
Carrying value [Member] | |||
Financial assets: | |||
Cash and central bank balances | [1] | € 192,021 | € 166,208,000 |
Interbank balances (w/o central banks) | [1] | 7,342 | 9,130,000 |
Central bank funds sold and securities purchased under resale agreements | [1] | 8,368 | 8,533,000 |
Securities borrowed | [1] | 63 | 0 |
Loans | [1] | 472,069 | 426,691,000 |
Other financial assets | [1] | 94,588 | 94,069,000 |
Financial liabilities: | |||
Deposits | [1] | 604,396 | 567,745,000 |
Central bank funds purchased and securities sold under repurchase agreements | [1] | 747 | 2,325,000 |
Securities loaned | [1] | 24 | 1,697,000 |
Other short-term borrowings | [1] | 4,034 | 3,553,000 |
Other financial liabilities | [1] | 81,047 | 96,602,000 |
Long-term debt | [1] | 144,485 | 149,163,000 |
Trust preferred securities | [1] | 528 | 1,321,000 |
Fair value [Member] | |||
Financial assets: | |||
Cash and central bank balances | [1] | 192,021 | 166,208,000 |
Interbank balances (w/o central banks) | [1] | 7,342 | 9,132,000 |
Central bank funds sold and securities purchased under resale agreements | [1] | 8,429 | 8,519,000 |
Securities borrowed | [1] | 63 | 0 |
Loans | [1] | 476,674 | 434,442,000 |
Other financial assets | [1] | 94,732 | 94,393,000 |
Financial liabilities: | |||
Deposits | [1] | 604,645 | 568,172,000 |
Central bank funds purchased and securities sold under repurchase agreements | [1] | 745 | 2,328,000 |
Securities loaned | [1] | 24 | 1,697,000 |
Other short-term borrowings | [1] | 4,035 | 3,556,000 |
Other financial liabilities | [1] | 81,047 | 96,602,000 |
Long-term debt | [1] | 146,871 | 150,691,000 |
Trust preferred securities | [1] | 587 | 1,069,000 |
Quoted prices in active market (Level 1) | |||
Financial assets: | |||
Cash and central bank balances | [1] | 192,021 | 166,208,000 |
Interbank balances (w/o central banks) | [1] | 0 | 866,000 |
Central bank funds sold and securities purchased under resale agreements | [1] | 0 | 0 |
Securities borrowed | [1] | 0 | 0 |
Loans | [1] | 0 | 0 |
Other financial assets | [1] | 9,048 | 7,714,000 |
Financial liabilities: | |||
Deposits | [1] | 307 | 66,000 |
Central bank funds purchased and securities sold under repurchase agreements | [1] | 0 | 0 |
Securities loaned | [1] | 0 | 0 |
Other short-term borrowings | [1] | 0 | 0 |
Other financial liabilities | [1] | 2,023 | 1,902,000 |
Long-term debt | [1] | 0 | 0 |
Trust preferred securities | [1] | 0 | 0 |
Valuation technique observable parameters (Level 2) | |||
Financial assets: | |||
Cash and central bank balances | [1] | 0 | 0 |
Interbank balances (w/o central banks) | [1] | 7,342 | 8,266,000 |
Central bank funds sold and securities purchased under resale agreements | [1] | 7,651 | 7,694,000 |
Securities borrowed | [1] | 63 | 0 |
Loans | [1] | 13,682 | 13,253,000 |
Other financial assets | [1] | 85,335 | 86,049,000 |
Financial liabilities: | |||
Deposits | [1] | 604,338 | 568,105,000 |
Central bank funds purchased and securities sold under repurchase agreements | [1] | 745 | 2,328,000 |
Securities loaned | [1] | 24 | 1,697,000 |
Other short-term borrowings | [1] | 4,010 | 3,540,000 |
Other financial liabilities | [1] | 79,023 | 94,700,000 |
Long-term debt | [1] | 141,189 | 144,130,000 |
Trust preferred securities | [1] | 587 | 1,069,000 |
Valuation technique unobservable parameters (Level 3) [Member] | |||
Financial assets: | |||
Cash and central bank balances | [1] | 0 | 0 |
Interbank balances (w/o central banks) | [1] | 0 | 0 |
Central bank funds sold and securities purchased under resale agreements | [1] | 778 | 825,000 |
Securities borrowed | [1] | 0 | 0 |
Loans | [1] | 462,991 | 421,189,000 |
Other financial assets | [1] | 349 | 629,000 |
Financial liabilities: | |||
Deposits | [1] | 0 | 0 |
Central bank funds purchased and securities sold under repurchase agreements | [1] | 0 | 0 |
Securities loaned | [1] | 0 | 0 |
Other short-term borrowings | [1] | 25 | 15,000 |
Other financial liabilities | [1] | 0 | 0 |
Long-term debt | [1] | 5,683 | 6,560,000 |
Trust preferred securities | [1] | € 0 | € 0 |
[1] | Amounts generally presented on a gross basis, in line with the Group’s accounting policy regarding offsetting of financial instruments as described in Note 1 “Significant Accounting Policies and Critical Accounting Estimates”. |
Note 15 - Financial assets at f
Note 15 - Financial assets at fair value through OCI (Detail) - Financial assets at fair value through OCI [Member] - EUR (€) € in Millions | Dec. 31, 2021 | Dec. 31, 2020 |
Financial assets at fair value through OCI [Line Items] | ||
Securities purchased under resale agreement | € 1,231 | € 1,543 |
Debt securities [Abstract]: | ||
German government | 876 | 10,245 |
U.S. Treasury and U.S. government agencies | 8,770 | 9,221 |
U.S. local (municipal) governments | 253 | 251 |
Other foreign governments | 10,965 | 26,308 |
Corporates | 604 | 2,272 |
Other asset-backed securities | 0 | 31 |
Mortgage-backed securities, including obligations of U.S. federal agencies | 714 | 636 |
Other debt securities | 1,194 | 692 |
Total debt securities | 23,377 | 49,656 |
Loans | 4,370 | 4,635 |
Total financial assets at fair value through other comprehensive income | € 28,979 | € 55,834 |
Note 16 - Significant Investmen
Note 16 - Significant Investments (Detail) | 12 Months Ended | ||||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |||
Huarong Rongde Asset Management Company Ltd [Member] | |||||
Significant Investments [Line Items] | |||||
Principal place of business | Beijing, China | ||||
Nature of relationship | Strategic Investment | ||||
Ownership percentage | 40.70% | [1] | 40.70% | [2] | 40.70% |
Harvest Fund Management Co., LTD [Member] | |||||
Significant Investments [Line Items] | |||||
Principal place of business | Shanghai, China | ||||
Nature of relationship | Strategic Investment | ||||
Ownership percentage | 30.00% | [1],[3] | 30.00% | [4] | |
[1] | The Group has significant influence over these investees through its holding percentage and representation on the board seats. | ||||
[2] | Due to the difference in reporting timelines for the Group and Huarong Rongde Asset Management Company Limited Equity method accounting was performed for December 2021 based on December 2020 PRC GAAP audited financials and for December 2020 based on December 2019 PRC GAAP audited financials. | ||||
[3] | December 2021 numbers are based on 2021 unaudited financials. | ||||
[4] | December 2020 numbers are based on 2020 audited financials. |
Note 16 - Summarised financial
Note 16 - Summarised financial information on Huarong Rongde Asset Management Company Ltd (Detail) - Huarong Rongde Asset Management Company Ltd [Member] - EUR (€) € in Millions | 12 Months Ended | ||
Dec. 31, 2020 | [1] | Dec. 31, 2019 | |
Summarised financial information on Huarong Rongde Asset Management Company Ltd [Line Items] | |||
Total net revenues | € 76 | € 97 | |
Net income (loss) | 54 | 62 | |
Other comprehensive income | 0 | 54 | |
Total comprehensive income (loss), net of tax | 54 | [2] | 116 |
Current assets | 2,979 | 2,323 | |
Non-Current assets | 247 | 804 | |
Total assets | 3,226 | 3,127 | |
Current liabilities | 1,273 | 1,157 | |
Non-Current liabilities | 1,180 | 1,274 | |
Total liabilities | 2,453 | 2,431 | |
Noncontrolling interests | 0 | (3) | |
Net assets of the equity method investee | € 773 | € 699 | |
[1] | Due to the difference in reporting timelines for the Group and Huarong Rongde Asset Management Company Limited Equity method accounting was performed for December 2021 based on December 2020 PRC GAAP audited financials and for December 2020 based on December 2019 PRC GAAP audited financials. | ||
[2] | The Group received dividends from Huarong Rongde Asset Management Company Limited of € 0 million € 9 million |
Note 16 - Reconciliation of tot
Note 16 - Reconciliation of total net assets of Huarong Rongde Asset Management Company Ltd to the Groups carrying amount (Detail) - Huarong Rongde Asset Management Company Ltd [Member] - EUR (€) € in Millions | Dec. 31, 2021 | [2] | Dec. 31, 2020 | Dec. 31, 2019 | |
Reconciliation of total net assets of Huarong Rongde Asset Management Company Ltd to the Groups carrying amount [Line Items] | |||||
Net assets of the equity method investee | € 773 | [1] | € 699 | ||
Groups ownership percentage on the investees equity | 40.70% | 40.70% | [3] | 40.70% | |
Groups share of net assets | € 315 | [3] | € 284 | ||
Goodwill | 0 | [3] | 0 | ||
Intangible Assets | 0 | [3] | 0 | ||
Other adjustments | (97) | [3] | (9) | ||
Carrying amount | € 218 | [3],[4] | € 275 | ||
[1] | Due to the difference in reporting timelines for the Group and Huarong Rongde Asset Management Company Limited Equity method accounting was performed for December 2021 based on December 2020 PRC GAAP audited financials and for December 2020 based on December 2019 PRC GAAP audited financials. | ||||
[2] | The Group has significant influence over these investees through its holding percentage and representation on the board seats. | ||||
[3] | Due to the difference in reporting timelines for the Group and Huarong Rongde Asset Management Company Limited Equity method accounting was performed for December 2021 based on December 2020 PRC GAAP audited financials and for December 2020 based on December 2019 PRC GAAP audited financials. | ||||
[4] | There is impairment loss of € 97 million € 0 million |
Note 16 - Summarised financia_2
Note 16 - Summarised financial information on Harvest Fund Management Co., LTD (Detail) - Harvest Fund Management Co., LTD [Member] - EUR (€) € in Millions | 12 Months Ended | ||||
Dec. 31, 2021 | Dec. 31, 2020 | ||||
Summarised financial information on Harvest Fund Management Co., LTD [Line Items] | |||||
Total net revenues | € 1,147 | [1] | € 842 | [2] | |
Net income (loss) | 295 | [1] | 224 | [2] | |
Other comprehensive income | 1 | [1] | 5 | [2] | |
Total comprehensive income (loss), net of tax | [3] | 294 | [1] | 219 | [2] |
Current assets | 1,291 | 1,015 | |||
Non-Current assets | 966 | 804 | |||
Total assets | 2,257 | 1,819 | |||
Current liabilities | 1,006 | 760 | |||
Non-Current liabilities | 192 | 169 | |||
Total liabilities | 1,197 | 929 | |||
Noncontrolling interests | 35 | 23 | |||
Net assets of the equity method investee | € 1,024 | [4] | € 867 | [5] | |
[1] | December 2021 numbers are based on 2021 unaudited financials | ||||
[2] | December 2020 numbers are based on 2020 audited financials. | ||||
[3] | The Group received dividends from Harvest Fund Management Co., Ltd. of € 68 million € 21 million € 6 million | ||||
[4] | December 2021 numbers are based on 2021 unaudited financials. | ||||
[5] | December 2020 numbers are based on 2020 audited financials. |
Note 16 - Reconciliation of t_2
Note 16 - Reconciliation of total net assets of Harvest Fund Management Co., LTD to the Groups carrying amount (Detail) - Harvest Fund Management Co., LTD [Member] - EUR (€) € in Millions | Dec. 31, 2021 | [1] | Dec. 31, 2020 | [2] | |
Reconciliation of total net assets of Harvest Fund Management Co., LTD to the Groups carrying amount [Line Items] | |||||
Net assets of the equity method investee | € 1,024 | € 867 | |||
Groups ownership percentage on the investees equity | 30.00% | [3] | 30.00% | ||
Groups share of net assets | € 307 | € 260 | |||
Goodwill | 17 | 16 | |||
Intangible Assets | 15 | 14 | |||
Other adjustments | 1 | 0 | |||
Carrying amount | [4] | € 341 | € 290 | ||
[1] | December 2021 numbers are based on 2021 unaudited financials. | ||||
[2] | December 2020 numbers are based on 2020 audited financials. | ||||
[3] | The Group has significant influence over these investees through its holding percentage and representation on the board seats. | ||||
[4] | There is no impairment loss in 2021 ( € 0 million |
Note 16 - Equity Method Investm
Note 16 - Equity Method Investments - Information on the Groups Share in Associates and Joint Ventures individually immaterial (Detail: Text Values) € in Millions | Dec. 31, 2021EUR (€) | Dec. 31, 2020EUR (€) |
Information on the Groups Share in Associates and Joint Ventures individually immaterial [Abstract] | ||
Number of associates Deutsche Bank Group holds interests | 59,000,000 | 60,000,000 |
Number of jointly controlled entities Deutsche Bank Group holds interests | 10,000,000 | 11,000,000 |
Investment in Huarong Rongde Asset Management Company Ltd | ||
Dividends received | € 0 | € 9 |
Impairment | 97 | 0 |
Investment in Harvest Fund Management Co., LTD | ||
Dividends received | € 68 | 21 |
Impairment | 0 | |
Extraordinary dividend receivable | € 6 |
Note 16 - Aggregated financial
Note 16 - Aggregated financial information on the Group's share in associates and joint ventures that are individually immaterial (Detail) - Information on the Groups Share in Associates and Joint Ventures individually immaterial [Member] - EUR (€) € in Millions | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Aggregated financial information on the Group's share in associates and joint ventures that are individually immaterial [Line Items] | ||
Carrying amount of all associates that are individually immaterial to the Group | € 532 | € 337 |
Aggregated amount of the Group's share of profit (loss) from continuing operations | 87 | 20 |
Aggregated amount of the Group's share of post-tax profit (loss) from discontinued operations | 0 | 0 |
Aggregated amount of the Group's share of other comprehensive income | (6) | (10) |
Aggregated amount of the Group's share of total comprehensive income | € 81 | € 10 |
Note 17 - Offsetting Assets (De
Note 17 - Offsetting Assets (Details) - EUR (€) € in Millions | Dec. 31, 2021 | Dec. 31, 2020 | ||
Gross amounts of financial assets [Member] | enforceable [Member] | ||||
Offsetting Financial Assets [Line Items] | ||||
Central bank funds sold and securities purchased under resale agreements | € 14,449 | € 8,234 | ||
Securities borrowed | 63 | 0 | ||
Financial assets at fair value through profit or loss | 471,208 | 463,397 | ||
of which: Positive market values from derivative financial instruments | 296,606 | 336,976 | ||
Of which: positive market values from derivatives qualifying for hedge accounting (enforceable) | 1,126 | 3,286 | ||
Remaining assets subject to netting | 1,231 | 1,543 | ||
Gross amounts of financial assets [Member] | non-enforceable [Member] | ||||
Offsetting Financial Assets [Line Items] | ||||
Central bank funds sold and securities purchased under resale agreements | 2,451 | 3,161 | ||
Securities borrowed | 0 | 0 | ||
Financial assets at fair value through profit or loss | 137,118 | 149,137 | ||
of which: Positive market values from derivative financial instruments | 15,170 | 19,074 | ||
Loans at amortized cost | 472,069 | 426,691 | ||
Remaining assets not subject to netting | 247,956 | 249,854 | ||
Gross amounts of financial assets [Member] | enforceable and non-enforceable [Member] | ||||
Offsetting Financial Assets [Line Items] | ||||
Financial assets at fair value through profit or loss | 608,326 | 612,534 | ||
Other assets | 109,097 | 120,531 | ||
Total assets | 1,455,642 | 1,422,549 | ||
Gross amounts set off on the balance sheet [Member] | enforceable [Member] | ||||
Offsetting Financial Assets [Line Items] | ||||
Central bank funds sold and securities purchased under resale agreements | (8,532) | (2,863) | ||
Securities borrowed | 0 | 0 | ||
Financial assets at fair value through profit or loss | (117,093) | (84,554) | ||
of which: Positive market values from derivative financial instruments | (12,044) | (12,557) | ||
Of which: positive market values from derivatives qualifying for hedge accounting (enforceable) | (21) | (21) | ||
Remaining assets subject to netting | 0 | 0 | ||
Gross amounts set off on the balance sheet [Member] | non-enforceable [Member] | ||||
Offsetting Financial Assets [Line Items] | ||||
Central bank funds sold and securities purchased under resale agreements | 0 | 0 | ||
Securities borrowed | 0 | 0 | ||
Financial assets at fair value through profit or loss | 0 | 0 | ||
of which: Positive market values from derivative financial instruments | 0 | 0 | ||
Loans at amortized cost | 0 | 0 | ||
Remaining assets not subject to netting | 0 | 0 | ||
Gross amounts set off on the balance sheet [Member] | enforceable and non-enforceable [Member] | ||||
Offsetting Financial Assets [Line Items] | ||||
Financial assets at fair value through profit or loss | (117,093) | (84,554) | ||
Other assets | (5,313) | (10,170) | ||
Total assets | (130,937) | (97,587) | ||
Net amounts of financial assets presented on the balance sheet [Member] | enforceable [Member] | ||||
Offsetting Financial Assets [Line Items] | ||||
Central bank funds sold and securities purchased under resale agreements | 5,917 | 5,371 | ||
Securities borrowed | 63 | 0 | ||
Financial assets at fair value through profit or loss | 354,116 | 378,843 | ||
of which: Positive market values from derivative financial instruments | 284,562 | 324,419 | ||
Of which: positive market values from derivatives qualifying for hedge accounting (enforceable) | 1,105 | 3,265 | ||
Remaining assets subject to netting | 1,231 | 1,543 | ||
Net amounts of financial assets presented on the balance sheet [Member] | non-enforceable [Member] | ||||
Offsetting Financial Assets [Line Items] | ||||
Central bank funds sold and securities purchased under resale agreements | 2,451 | 3,161 | ||
Securities borrowed | 0 | 0 | ||
Financial assets at fair value through profit or loss | 137,118 | 149,137 | ||
of which: Positive market values from derivative financial instruments | 15,170 | 19,074 | ||
Loans at amortized cost | 472,069 | 426,691 | ||
Remaining assets not subject to netting | 247,956 | 249,854 | ||
Net amounts of financial assets presented on the balance sheet [Member] | enforceable and non-enforceable [Member] | ||||
Offsetting Financial Assets [Line Items] | ||||
Financial assets at fair value through profit or loss | 491,233 | 527,980 | ||
Other assets | 103,784 | 110,360 | ||
Total assets | 1,324,705 | 1,324,961 | ||
Impact of Master Netting Agreements [Member] | enforceable [Member] | ||||
Offsetting Financial Assets [Line Items] | ||||
Central bank funds sold and securities purchased under resale agreements | 0 | 0 | ||
Securities borrowed | 0 | 0 | ||
Financial assets at fair value through profit or loss | (240,588) | (263,518) | ||
of which: Positive market values from derivative financial instruments | (238,412) | 262,525 | ||
Of which: positive market values from derivatives qualifying for hedge accounting (enforceable) | (881) | (2,607) | ||
Remaining assets subject to netting | 0 | 0 | ||
Impact of Master Netting Agreements [Member] | non-enforceable [Member] | ||||
Offsetting Financial Assets [Line Items] | ||||
Central bank funds sold and securities purchased under resale agreements | 0 | 0 | ||
Securities borrowed | 0 | 0 | ||
Financial assets at fair value through profit or loss | 0 | 0 | ||
of which: Positive market values from derivative financial instruments | 0 | 0 | ||
Loans at amortized cost | 0 | 0 | ||
Remaining assets not subject to netting | 0 | 0 | ||
Impact of Master Netting Agreements [Member] | enforceable and non-enforceable [Member] | ||||
Offsetting Financial Assets [Line Items] | ||||
Financial assets at fair value through profit or loss | (240,588) | (263,518) | ||
Other assets | (30,639) | (43,277) | ||
Total assets | (271,227) | (306,795) | ||
Cash collateral [Member] | enforceable [Member] | ||||
Offsetting Financial Assets [Line Items] | ||||
Central bank funds sold and securities purchased under resale agreements | 0 | 0 | ||
Securities borrowed | 0 | 0 | ||
Financial assets at fair value through profit or loss | (33,953) | (45,066) | ||
of which: Positive market values from derivative financial instruments | (33,950) | (45,048) | ||
Of which: positive market values from derivatives qualifying for hedge accounting (enforceable) | (101) | (411) | ||
Remaining assets subject to netting | 0 | 0 | ||
Cash collateral [Member] | non-enforceable [Member] | ||||
Offsetting Financial Assets [Line Items] | ||||
Central bank funds sold and securities purchased under resale agreements | 0 | 0 | ||
Securities borrowed | 0 | 0 | ||
Financial assets at fair value through profit or loss | (2,026) | (1,098) | ||
of which: Positive market values from derivative financial instruments | (1,963) | (1,003) | ||
Loans at amortized cost | (12,271) | (12,129) | ||
Remaining assets not subject to netting | (141) | (384) | ||
Cash collateral [Member] | enforceable and non-enforceable [Member] | ||||
Offsetting Financial Assets [Line Items] | ||||
Financial assets at fair value through profit or loss | (35,978) | (46,164) | ||
Other assets | (101) | (412) | ||
Total assets | (48,492) | (59,089) | ||
Financial instrument collateral [Member] | enforceable [Member] | ||||
Offsetting Financial Assets [Line Items] | ||||
Central bank funds sold and securities purchased under resale agreements | (5,667) | [1] | (5,319) | [2] |
Securities borrowed | (63) | [1] | 0 | [2] |
Financial assets at fair value through profit or loss | (71,766) | [1] | (58,410) | [2] |
of which: Positive market values from derivative financial instruments | (4,516) | [1] | (5,162) | [2] |
Of which: positive market values from derivatives qualifying for hedge accounting (enforceable) | (63) | [1] | (90) | [2] |
Remaining assets subject to netting | 0 | [1] | 0 | [2] |
Financial instrument collateral [Member] | non-enforceable [Member] | ||||
Offsetting Financial Assets [Line Items] | ||||
Central bank funds sold and securities purchased under resale agreements | (2,403) | [1] | (2,855) | [2] |
Securities borrowed | 0 | [1] | 0 | [2] |
Financial assets at fair value through profit or loss | (12,124) | [1] | (12,790) | [2] |
of which: Positive market values from derivative financial instruments | (1,263) | [1] | (1,116) | [2] |
Loans at amortized cost | (60,794) | [1] | (52,571) | [2] |
Remaining assets not subject to netting | (2,320) | [1] | (2,768) | [2] |
Financial instrument collateral [Member] | enforceable and non-enforceable [Member] | ||||
Offsetting Financial Assets [Line Items] | ||||
Financial assets at fair value through profit or loss | (83,890) | [1] | (71,200) | [2] |
Other assets | (63) | [1] | (90) | [2] |
Total assets | (155,200) | [1] | (134,803) | [2] |
Net amount [Member] | enforceable [Member] | ||||
Offsetting Financial Assets [Line Items] | ||||
Central bank funds sold and securities purchased under resale agreements | 251 | 53 | ||
Securities borrowed | 0 | 0 | ||
Financial assets at fair value through profit or loss | 7,809 | 11,849 | ||
of which: Positive market values from derivative financial instruments | 7,685 | 11,684 | ||
Of which: positive market values from derivatives qualifying for hedge accounting (enforceable) | 60 | 156 | ||
Remaining assets subject to netting | 1,231 | 1,543 | ||
Net amount [Member] | non-enforceable [Member] | ||||
Offsetting Financial Assets [Line Items] | ||||
Central bank funds sold and securities purchased under resale agreements | 48 | 307 | ||
Securities borrowed | 0 | 0 | ||
Financial assets at fair value through profit or loss | 122,968 | 135,249 | ||
of which: Positive market values from derivative financial instruments | 11,944 | 16,955 | ||
Loans at amortized cost | 399,004 | 361,991 | ||
Remaining assets not subject to netting | 245,495 | 246,703 | ||
Net amount [Member] | enforceable and non-enforceable [Member] | ||||
Offsetting Financial Assets [Line Items] | ||||
Financial assets at fair value through profit or loss | 130,777 | 147,099 | ||
Other assets | 72,981 | 66,581 | ||
Total assets | € 849,786 | € 824,275 | ||
[1] | Excludes real estate and other non-financial instrument collateral. | |||
[2] | Excludes real estate and other non-financial instrument collateral. |
Note 17 - Offsetting Liabilitie
Note 17 - Offsetting Liabilities (Details) - EUR (€) € in Millions | Dec. 31, 2021 | Dec. 31, 2020 |
Gross amounts of financial liabilities [Member] | enforceable [Member] | ||
Offsetting Financial Liabilities [Line Items] | ||
Central bank funds purchased and securities sold under repurchase agreements | € 9,275 | € 4,586 |
Securities loaned | 22 | 1,686 |
Financial liabilities at fair value through profit or loss | 497,741 | 480,029 |
Of which: Negative market values from derivative financial instruments | 289,380 | 326,692 |
Of which: Negative market values from derivatives qualifying for hedge accounting (enforceable) | 1,479 | 1,315 |
Gross amounts of financial liabilities [Member] | non-enforceable [Member] | ||
Offsetting Financial Liabilities [Line Items] | ||
Deposits | 604,396 | 567,745 |
Central bank funds purchased and securities sold under repurchase agreements | 4 | 3 |
Securities loaned | 2 | 11 |
Financial liabilities at fair value through profit or loss | 20,913 | 25,972 |
Of which: Negative market values from derivative financial instruments | 10,975 | 15,798 |
Remaining liabilities not subject to netting | 152,786 | 157,602 |
Gross amounts of financial liabilities [Member] | enforceable and non-enforceable [Member] | ||
Offsetting Financial Liabilities [Line Items] | ||
Financial liabilities at fair value through profit or loss | 518,653 | 506,002 |
Other liabilities | 102,405 | 122,730 |
Total liabilities | 1,387,544 | 1,360,364 |
Gross amounts set off on the balance sheet [Member] | enforceable [Member] | ||
Offsetting Financial Liabilities [Line Items] | ||
Central bank funds purchased and securities sold under repurchase agreements | (8,532) | (2,263) |
Securities loaned | 0 | 0 |
Financial liabilities at fair value through profit or loss | (117,796) | (86,803) |
Of which: Negative market values from derivative financial instruments | (13,246) | (14,715) |
Of which: Negative market values from derivatives qualifying for hedge accounting (enforceable) | (13) | (36) |
Gross amounts set off on the balance sheet [Member] | non-enforceable [Member] | ||
Offsetting Financial Liabilities [Line Items] | ||
Deposits | 0 | 0 |
Central bank funds purchased and securities sold under repurchase agreements | 0 | 0 |
Securities loaned | 0 | 0 |
Financial liabilities at fair value through profit or loss | 0 | 0 |
Of which: Negative market values from derivative financial instruments | 0 | 0 |
Remaining liabilities not subject to netting | 0 | 0 |
Gross amounts set off on the balance sheet [Member] | enforceable and non-enforceable [Member] | ||
Offsetting Financial Liabilities [Line Items] | ||
Financial liabilities at fair value through profit or loss | (117,796) | (86,803) |
Other liabilities | (4,609) | (8,521) |
Total liabilities | (130,937) | (97,587) |
Net amounts of financial liabilities presented on the balance sheet [Member] | enforceable [Member] | ||
Offsetting Financial Liabilities [Line Items] | ||
Central bank funds purchased and securities sold under repurchase agreements | 743 | 2,323 |
Securities loaned | 22 | 1,686 |
Financial liabilities at fair value through profit or loss | 379,945 | 393,226 |
Of which: Negative market values from derivative financial instruments | 276,134 | 311,976 |
Of which: Negative market values from derivatives qualifying for hedge accounting (enforceable) | 1,466 | 1,279 |
Net amounts of financial liabilities presented on the balance sheet [Member] | non-enforceable [Member] | ||
Offsetting Financial Liabilities [Line Items] | ||
Deposits | 604,396 | 567,745 |
Central bank funds purchased and securities sold under repurchase agreements | 4 | 3 |
Securities loaned | 2 | 11 |
Financial liabilities at fair value through profit or loss | 20,913 | 25,972 |
Of which: Negative market values from derivative financial instruments | 10,975 | 15,798 |
Remaining liabilities not subject to netting | 152,786 | 157,602 |
Net amounts of financial liabilities presented on the balance sheet [Member] | enforceable and non-enforceable [Member] | ||
Offsetting Financial Liabilities [Line Items] | ||
Financial liabilities at fair value through profit or loss | 400,857 | 419,199 |
Other liabilities | 97,795 | 114,208 |
Total liabilities | 1,256,606 | 1,262,777 |
Impact of Master Netting Agreements [Member] | enforceable [Member] | ||
Offsetting Financial Liabilities [Line Items] | ||
Central bank funds purchased and securities sold under repurchase agreements | 0 | 0 |
Securities loaned | 0 | 0 |
Financial liabilities at fair value through profit or loss | (240,381) | (265,150) |
Of which: Negative market values from derivative financial instruments | (237,915) | (264,042) |
Of which: Negative market values from derivatives qualifying for hedge accounting (enforceable) | (1,378) | (1,090) |
Impact of Master Netting Agreements [Member] | non-enforceable [Member] | ||
Offsetting Financial Liabilities [Line Items] | ||
Deposits | 0 | 0 |
Central bank funds purchased and securities sold under repurchase agreements | 0 | 0 |
Securities loaned | 0 | 0 |
Financial liabilities at fair value through profit or loss | 0 | 0 |
Of which: Negative market values from derivative financial instruments | 0 | 0 |
Remaining liabilities not subject to netting | 0 | 0 |
Impact of Master Netting Agreements [Member] | enforceable and non-enforceable [Member] | ||
Offsetting Financial Liabilities [Line Items] | ||
Financial liabilities at fair value through profit or loss | (240,381) | (265,150) |
Other liabilities | (38,677) | (49,534) |
Total liabilities | (279,058) | (314,684) |
Cash collateral [Member] | enforceable [Member] | ||
Offsetting Financial Liabilities [Line Items] | ||
Central bank funds purchased and securities sold under repurchase agreements | 0 | 0 |
Securities loaned | 0 | 0 |
Financial liabilities at fair value through profit or loss | (27,607) | (34,846) |
Of which: Negative market values from derivative financial instruments | (27,607) | (34,846) |
Of which: Negative market values from derivatives qualifying for hedge accounting (enforceable) | (49) | (121) |
Cash collateral [Member] | non-enforceable [Member] | ||
Offsetting Financial Liabilities [Line Items] | ||
Deposits | 0 | 0 |
Central bank funds purchased and securities sold under repurchase agreements | 0 | 0 |
Securities loaned | 0 | 0 |
Financial liabilities at fair value through profit or loss | (1,261) | (1,875) |
Of which: Negative market values from derivative financial instruments | (1,261) | (1,875) |
Remaining liabilities not subject to netting | 0 | (2) |
Cash collateral [Member] | enforceable and non-enforceable [Member] | ||
Offsetting Financial Liabilities [Line Items] | ||
Financial liabilities at fair value through profit or loss | (28,868) | (36,721) |
Other liabilities | (49) | (121) |
Total liabilities | (28,918) | (36,844) |
Financial instrument collateral [Member] | enforceable [Member] | ||
Offsetting Financial Liabilities [Line Items] | ||
Central bank funds purchased and securities sold under repurchase agreements | (743) | (2,323) |
Securities loaned | (22) | (1,686) |
Financial liabilities at fair value through profit or loss | (50,690) | (41,642) |
Of which: Negative market values from derivative financial instruments | (4,063) | (5,816) |
Of which: Negative market values from derivatives qualifying for hedge accounting (enforceable) | (2) | (6) |
Financial instrument collateral [Member] | non-enforceable [Member] | ||
Offsetting Financial Liabilities [Line Items] | ||
Deposits | 0 | 0 |
Central bank funds purchased and securities sold under repurchase agreements | 0 | (2) |
Securities loaned | (2) | (2) |
Financial liabilities at fair value through profit or loss | (4,658) | (6,184) |
Of which: Negative market values from derivative financial instruments | (157) | (166) |
Remaining liabilities not subject to netting | 0 | (1) |
Financial instrument collateral [Member] | enforceable and non-enforceable [Member] | ||
Offsetting Financial Liabilities [Line Items] | ||
Financial liabilities at fair value through profit or loss | (55,347) | (47,826) |
Other liabilities | (2) | (6) |
Total liabilities | (56,117) | (51,845) |
Net amount [Member] | enforceable [Member] | ||
Offsetting Financial Liabilities [Line Items] | ||
Central bank funds purchased and securities sold under repurchase agreements | 0 | 0 |
Securities loaned | 0 | 0 |
Financial liabilities at fair value through profit or loss | 61,267 | 51,589 |
Of which: Negative market values from derivative financial instruments | 6,549 | 7,273 |
Of which: Negative market values from derivatives qualifying for hedge accounting (enforceable) | 37 | 62 |
Net amount [Member] | non-enforceable [Member] | ||
Offsetting Financial Liabilities [Line Items] | ||
Deposits | 604,396 | 567,745 |
Central bank funds purchased and securities sold under repurchase agreements | 4 | 1 |
Securities loaned | 0 | 9 |
Financial liabilities at fair value through profit or loss | 14,994 | 17,914 |
Of which: Negative market values from derivative financial instruments | 9,556 | 13,757 |
Remaining liabilities not subject to netting | 152,786 | 157,599 |
Net amount [Member] | enforceable and non-enforceable [Member] | ||
Offsetting Financial Liabilities [Line Items] | ||
Financial liabilities at fair value through profit or loss | 76,261 | 69,502 |
Other liabilities | 59,067 | 64,547 |
Total liabilities | € 892,514 | € 859,403 |
Note 18 - Components of Loans b
Note 18 - Components of Loans by Industry Classification (Detail) - EUR (€) € in Millions | Dec. 31, 2021 | Dec. 31, 2020 |
Components of Loans by Industry Classification [Line Items] | ||
Agriculture, forestry and fishing | € 647 | € 637 |
Mining and quarrying | 3,006 | 3,145 |
Manufacturing | 36,820 | 28,040 |
Electricity, gas, steam and air conditioning supply | 4,819 | 3,765 |
Water supply, sewerage, waste management and remediation activities | 681 | 681 |
Construction | 4,651 | 4,708 |
Wholesale and retail trade, repair of motor vehicles and motorcycles | 22,444 | 22,023 |
Transport and storage | 6,067 | 6,382 |
Accommodation and food service activities | 2,272 | 2,514 |
Information and communication | 7,387 | 6,240 |
Financial and insurance activities | 111,239 | 90,220 |
Real estate activities | 43,220 | 37,946 |
Professional, scientific and technical activities | 7,022 | 7,946 |
Administrative and support service activities | 10,324 | 9,568 |
Public administration and defense, compulsory social security | 7,076 | 7,413 |
Education | 225 | 205 |
Human health services and social work activities | 4,005 | 3,530 |
Arts, entertainment and recreation | 1,068 | 951 |
Other service activities | 5,261 | 6,165 |
Activities of households as employers, undifferentiated goods- and services-producing activities of households for own use | 213,186 | 205,028 |
Activities of extraterritorial organizations and bodies | 1 | 1 |
Gross loans | 491,421 | 447,107 |
(Deferred expense)/unearned income | 227 | 394 |
Loans less (deferred expense)/unearned income | 491,194 | 446,712 |
Less: Allowance for loan losses | 4,779 | 4,823 |
Total Loans | € 486,416 | € 441,889 |
Note 19 - Allowance for Credit
Note 19 - Allowance for Credit Losses (Detail: Text Values) - EUR (€) € in Millions | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
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 | € 3 |
Total amount of undiscounted expected credit losses at initial recognition on financial assets that are purchased or originated credit-impared | 0 | 50 | |
Allowance for country risk not included in Allowance for credit losses for Off-balance Sheet Positions | € 6 | € 4 | € 4 |
Note 19 - Development of allowa
Note 19 - Development of allowance for credit losses in the reporting period, Allowance for Credit Losses (Detail) - Allowance for Credit Losses - EUR (€) € in Millions | 12 Months Ended | ||||
Dec. 31, 2021 | Dec. 31, 2020 | ||||
Development of exposures and allowance for credit losses in the reporting period [Line Items] | |||||
Balance, beginning of year | € 4,946 | [1],[2],[3],[4] | € 4,093 | ||
Movements in financial assets including new business | 480 | [2],[5],[6] | 1,686 | [1],[3],[4] | |
Transfers due to changes in creditworthiness | 0 | [2],[5],[6] | 0 | [1],[3],[4] | |
Changes in models | 0 | [2],[5],[6] | 0 | [1],[3],[4] | |
Financial assets that have been derecognized during the period | [7] | (566) | [2],[5],[6] | (781) | [1],[3],[4],[8],[9] |
Recovery of written off amounts | 78 | [2],[5],[6] | 58 | [1],[3],[4] | |
Foreign exchange and other changes | (43) | [2],[5],[6] | (110) | [1],[3],[4] | |
Balance, end of reporting period | [2] | 4,895 | [5],[6] | 4,946 | [1],[3],[4] |
Provision for Credit Losses excluding country risk | [10] | 480 | [2],[5],[6],[11] | 1,686 | [1],[3],[4],[12],[13] |
Stage 1 [Member] | |||||
Development of exposures and allowance for credit losses in the reporting period [Line Items] | |||||
Balance, beginning of year | 544 | [1],[2],[3],[4] | 549 | ||
Movements in financial assets including new business | (245) | [2],[5],[6] | (44) | [1],[3],[4] | |
Transfers due to changes in creditworthiness | 138 | [2],[5],[6] | 77 | [1],[3],[4] | |
Changes in models | 0 | [2],[5],[6] | 0 | [1],[3],[4] | |
Financial assets that have been derecognized during the period | [7] | 0 | [2],[5],[6] | 0 | [1],[3],[4],[8],[9] |
Recovery of written off amounts | 0 | [2],[5],[6] | 0 | [1],[3],[4] | |
Foreign exchange and other changes | 3 | [2],[5],[6] | (38) | [1],[3],[4] | |
Balance, end of reporting period | [2] | 440 | [5],[6] | 544 | [1],[3],[4] |
Provision for Credit Losses excluding country risk | [10] | (107) | [2],[5],[6],[11] | 33 | [1],[3],[4],[12],[13] |
Stage 2 [Member] | |||||
Development of exposures and allowance for credit losses in the reporting period [Line Items] | |||||
Balance, beginning of year | 648 | [1],[2],[3],[4] | 492 | ||
Movements in financial assets including new business | 85 | [2],[5],[6] | 309 | [1],[3],[4] | |
Transfers due to changes in creditworthiness | (197) | [2],[5],[6] | (125) | [1],[3],[4] | |
Changes in models | 0 | [2],[5],[6] | 0 | [1],[3],[4] | |
Financial assets that have been derecognized during the period | [7] | 0 | [2],[5],[6] | 0 | [1],[3],[4],[8],[9] |
Recovery of written off amounts | 0 | [2],[5],[6] | 0 | [1],[3],[4] | |
Foreign exchange and other changes | (4) | [2],[5],[6] | (28) | [1],[3],[4] | |
Balance, end of reporting period | [2] | 532 | [5],[6] | 648 | [1],[3],[4] |
Provision for Credit Losses excluding country risk | [10] | (112) | [2],[5],[6],[11] | 184 | [1],[3],[4],[12],[13] |
Stage 3 [Member] | |||||
Development of exposures and allowance for credit losses in the reporting period [Line Items] | |||||
Balance, beginning of year | 3,614 | [1],[2],[3],[4] | 3,015 | ||
Movements in financial assets including new business | 615 | [2],[5],[6] | 1,348 | [1],[3],[4] | |
Transfers due to changes in creditworthiness | 58 | [2],[5],[6] | 49 | [1],[3],[4] | |
Changes in models | 0 | [2],[5],[6] | 0 | [1],[3],[4] | |
Financial assets that have been derecognized during the period | [7] | (561) | [2],[5],[6] | (781) | [1],[3],[4],[8],[9] |
Recovery of written off amounts | 55 | [2],[5],[6] | 58 | [1],[3],[4] | |
Foreign exchange and other changes | (41) | [2],[5],[6] | (75) | [1],[3],[4] | |
Balance, end of reporting period | [2] | 3,740 | [5],[6] | 3,614 | [1],[3],[4] |
Provision for Credit Losses excluding country risk | [10] | 673 | [2],[5],[6],[11] | 1,397 | [1],[3],[4],[12],[13] |
Stage 3 POCI [Member] | |||||
Development of exposures and allowance for credit losses in the reporting period [Line Items] | |||||
Balance, beginning of year | 139 | [1],[2],[3],[4],[14],[15] | 36 | ||
Movements in financial assets including new business | 26 | [2],[5],[6],[16],[17] | 72 | [1],[3],[4],[14],[15] | |
Changes in models | 0 | [2],[5],[6],[17] | 0 | [1],[3],[4],[14],[15] | |
Financial assets that have been derecognized during the period | [7] | (5) | [2],[5],[6],[17] | 0 | [1],[3],[4],[8],[9],[14],[15] |
Recovery of written off amounts | 23 | [2],[5],[6],[17] | 0 | [1],[3],[4],[14],[15] | |
Foreign exchange and other changes | 0 | [2],[5],[6],[17] | 31 | [1],[3],[4],[14],[15] | |
Balance, end of reporting period | [2] | 182 | [5],[6],[17] | 139 | [1],[3],[4],[14],[15] |
Provision for Credit Losses excluding country risk | [10] | € 26 | [2],[5],[6],[11],[17] | € 72 | [1],[3],[4],[12],[13],[14],[15] |
[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] | Allowance for credit losses does not include allowance for country risk amounting to € 5 million | ||||
[4] | Allowance for credit losses does not include allowance for country risk amounting to € 5 million | ||||
[5] | Allowance for credit losses does not include allowance for country risk amounting to € 4 million | ||||
[6] | Allowance for credit losses does not include allowance for country risk amounting to € 4 million | ||||
[7] | This position includes charge offs of allowance for credit losses. | ||||
[8] | This position includes charge offs of allowance for credit losses. | ||||
[9] | This position includes charge offs of allowance for credit losses. | ||||
[10] | 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. | ||||
[11] | 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. | ||||
[12] | 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. | ||||
[13] | 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. | ||||
[14] | The total amount of undiscounted expected credit losses at initial recognition on financial assets that are purchased or originated credit-impaired initially recognized during the reporting period was € 50 million € 0 million | ||||
[15] | The total amount of undiscounted expected credit losses at initial recognition on financial assets that are purchased or originated credit-impaired initially recognized during the reporting period was € 50 million € 0 million | ||||
[16] | The total amount of undiscounted expected credit losses at initial recognition on financial assets that are purchased or originated credit-impaired initially recognized during the reporting period was € 0 million € 50 million | ||||
[17] | The total amount of undiscounted expected credit losses at initial recognition on financial assets that are purchased or originated credit-impaired initially recognized during the reporting period was € 0 million € 50 million |
Note 19 - Intro AQ Section (Det
Note 19 - Intro AQ Section (Detail) - EUR (€) € in Millions | Dec. 31, 2021 | Dec. 31, 2020 | |
Amortized Cost [Member] | |||
Intro AQ Section //Mapping auf RFT [Line Items] | |||
Gross Carrying Amount | [1] | € 764,298 | € 699,393 |
Allowance for Credit Losses | [1],[2] | 4,895 | 4,946 |
of which Loans | |||
Intro AQ Section //Mapping auf RFT [Line Items] | |||
Gross Carrying Amount | 476,077 | ||
Allowance for Credit Losses | 4,754 | ||
Fair Value through OCI [Member] | |||
Intro AQ Section //Mapping auf RFT [Line Items] | |||
Allowance for Credit Losses | 41 | 20 | |
Fair value | 28,979 | 55,834 | |
Off-balance sheet [Member] | |||
Intro AQ Section //Mapping auf RFT [Line Items] | |||
Allowance for Credit Losses | [3] | 443 | 419 |
Notional Amount | 285,948 | 262,856 | |
Stage 1 [Member] | Amortized Cost [Member] | |||
Intro AQ Section //Mapping auf RFT [Line Items] | |||
Gross Carrying Amount | [1] | 711,021 | 651,637 |
Allowance for Credit Losses | [1],[2] | 440 | 544 |
Stage 1 [Member] | of which Loans | |||
Intro AQ Section //Mapping auf RFT [Line Items] | |||
Gross Carrying Amount | 425,342 | ||
Allowance for Credit Losses | 421 | ||
Stage 1 [Member] | Fair Value through OCI [Member] | |||
Intro AQ Section //Mapping auf RFT [Line Items] | |||
Allowance for Credit Losses | 15 | 12 | |
Fair value | 28,609 | 55,566 | |
Stage 1 [Member] | Off-balance sheet [Member] | |||
Intro AQ Section //Mapping auf RFT [Line Items] | |||
Allowance for Credit Losses | [3] | 108 | 144 |
Notional Amount | 268,857 | 251,545 | |
Stage 2 [Member] | Amortized Cost [Member] | |||
Intro AQ Section //Mapping auf RFT [Line Items] | |||
Gross Carrying Amount | [1] | 40,653 | 35,372 |
Allowance for Credit Losses | [1],[2] | 532 | 648 |
Stage 2 [Member] | of which Loans | |||
Intro AQ Section //Mapping auf RFT [Line Items] | |||
Gross Carrying Amount | 38,809 | ||
Allowance for Credit Losses | 530 | ||
Stage 2 [Member] | Fair Value through OCI [Member] | |||
Intro AQ Section //Mapping auf RFT [Line Items] | |||
Allowance for Credit Losses | 10 | 6 | |
Fair value | 326 | 163 | |
Stage 2 [Member] | Off-balance sheet [Member] | |||
Intro AQ Section //Mapping auf RFT [Line Items] | |||
Allowance for Credit Losses | [3] | 111 | 74 |
Notional Amount | 14,498 | 8,723 | |
Stage 3 [Member] | Amortized Cost [Member] | |||
Intro AQ Section //Mapping auf RFT [Line Items] | |||
Gross Carrying Amount | [1] | 11,326 | 10,655 |
Allowance for Credit Losses | [1],[2] | 3,740 | 3,614 |
Stage 3 [Member] | of which Loans | |||
Intro AQ Section //Mapping auf RFT [Line Items] | |||
Gross Carrying Amount | 10,653 | ||
Allowance for Credit Losses | 3,627 | ||
Stage 3 [Member] | Fair Value through OCI [Member] | |||
Intro AQ Section //Mapping auf RFT [Line Items] | |||
Allowance for Credit Losses | 16 | 2 | |
Fair value | 44 | 105 | |
Stage 3 [Member] | Off-balance sheet [Member] | |||
Intro AQ Section //Mapping auf RFT [Line Items] | |||
Allowance for Credit Losses | [3] | 225 | 200 |
Notional Amount | 2,582 | 2,587 | |
Stage 3 POCI [Member] | Amortized Cost [Member] | |||
Intro AQ Section //Mapping auf RFT [Line Items] | |||
Gross Carrying Amount | [1] | 1,297 | 1,729 |
Allowance for Credit Losses | [1],[2] | 182 | 139 |
Stage 3 POCI [Member] | of which Loans | |||
Intro AQ Section //Mapping auf RFT [Line Items] | |||
Gross Carrying Amount | 1,272 | ||
Allowance for Credit Losses | 177 | ||
Stage 3 POCI [Member] | Fair Value through OCI [Member] | |||
Intro AQ Section //Mapping auf RFT [Line Items] | |||
Allowance for Credit Losses | 0 | 0 | |
Fair value | 0 | 0 | |
Stage 3 POCI [Member] | Off-balance sheet [Member] | |||
Intro AQ Section //Mapping auf RFT [Line Items] | |||
Allowance for Credit Losses | [3] | 0 | 0 |
Notional Amount | € 11 | € 1 | |
[1] | Financial Assets at Amortized Cost consist of: Loans at Amortized Cost, Cash and central bank balances, Interbank balances (w/o central banks), Central bank funds sold and securities purchased under resale agreements, Securities borrowed and certain subcategories of Other assets | ||
[2] | Allowance for credit losses do not include allowance for country risk amounting to € 4 million € 5 million | ||
[3] | Allowance for credit losses do not include allowance for country risk amounting to € 6 million € 4 million |
Note 19 - Off-balance sheet len
Note 19 - Off-balance sheet lending commitments and guarantee business, Allowance for Credit Losses (Detail) - Allowance for Credit Losses - EUR (€) € in Millions | 12 Months Ended | ||||
Dec. 31, 2021 | Dec. 31, 2020 | ||||
Off-balance sheet lending commitments and guarantee business [Line Items] | |||||
Balance, beginning of year | [1] | € 419 | [2],[3] | € 342 | |
Movements in financial assets including new business | 13 | [3],[4] | 75 | [1],[2] | |
Transfers due to changes in creditworthiness | 0 | [3],[4] | 0 | [1],[2] | |
Changes in models | 0 | [3],[4] | 0 | [1],[2] | |
Foreign exchange and other changes | 12 | [3],[4] | 1 | [1],[2] | |
Balance, end of reporting period | [3] | 443 | [4] | 419 | [1],[2] |
Provision for Credit Losses excluding country risk | [5] | 13 | [3],[4],[6] | 75 | [1],[2],[7],[8] |
Stage 1 [Member] | |||||
Off-balance sheet lending commitments and guarantee business [Line Items] | |||||
Balance, beginning of year | [1] | 144 | [2],[3] | 128 | |
Movements in financial assets including new business | (43) | [3],[4] | 13 | [1],[2] | |
Transfers due to changes in creditworthiness | 3 | [3],[4] | 0 | [1],[2] | |
Changes in models | 0 | [3],[4] | 0 | [1],[2] | |
Foreign exchange and other changes | 3 | [3],[4] | 3 | [1],[2] | |
Balance, end of reporting period | [3] | 108 | [4] | 144 | [1],[2] |
Provision for Credit Losses excluding country risk | [5] | (40) | [3],[4],[6] | 13 | [1],[2],[7],[8] |
Stage 2 [Member] | |||||
Off-balance sheet lending commitments and guarantee business [Line Items] | |||||
Balance, beginning of year | [1] | 74 | [2],[3] | 48 | |
Movements in financial assets including new business | 38 | [3],[4] | 21 | [1],[2] | |
Transfers due to changes in creditworthiness | (5) | [3],[4] | 0 | [1],[2] | |
Changes in models | 0 | [3],[4] | 0 | [1],[2] | |
Foreign exchange and other changes | 3 | [3],[4] | 4 | [1],[2] | |
Balance, end of reporting period | [3] | 111 | [4] | 74 | [1],[2] |
Provision for Credit Losses excluding country risk | [5] | 33 | [3],[4],[6] | 22 | [1],[2],[7],[8] |
Stage 3 [Member] | |||||
Off-balance sheet lending commitments and guarantee business [Line Items] | |||||
Balance, beginning of year | [1] | 200 | [2],[3] | 166 | |
Movements in financial assets including new business | 18 | [3],[4] | 41 | [1],[2] | |
Transfers due to changes in creditworthiness | 2 | [3],[4] | (1) | [1],[2] | |
Changes in models | 0 | [3],[4] | 0 | [1],[2] | |
Foreign exchange and other changes | 6 | [3],[4] | (6) | [1],[2] | |
Balance, end of reporting period | [3] | 225 | [4] | 200 | [1],[2] |
Provision for Credit Losses excluding country risk | [5] | 19 | [3],[4],[6] | 40 | [1],[2],[7],[8] |
Stage 3 POCI [Member] | |||||
Off-balance sheet lending commitments and guarantee business [Line Items] | |||||
Balance, beginning of year | [1] | 0 | [2],[4] | 0 | |
Movements in financial assets including new business | [1],[2] | 0 | |||
Transfers due to changes in creditworthiness | [1],[2] | 0 | |||
Changes in models | € 0 | [3],[4] | 0 | [1],[2] | |
Foreign exchange and other changes | [1],[2] | 0 | |||
Balance, end of reporting period | [1],[2],[4] | 0 | |||
Provision for Credit Losses excluding country risk | [1],[2],[5],[7],[8] | € 0 | |||
[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 € 4 million . | ||||
[3] | Allowance for credit losses does not include allowance for country risk amounting to € 6 million | ||||
[4] | Allowance for credit losses does not include allowance for country risk amounting to € 6 million | ||||
[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. | ||||
[7] | 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. | ||||
[8] | 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. |
Note 20 - Information on the As
Note 20 - Information on the Asset Types and the Associated Transactions (Detail) - Information on the Asset Types and the Associated Transactions [Member] - EUR (€) € in Millions | Dec. 31, 2021 | Dec. 31, 2020 | ||
Trading securities not derecognized due to the following transactions: | ||||
Repurchase agreements | € 44,898 | € 40,654 | ||
Securities lending agreements | 5,444 | 8,951 | ||
Total return swaps | 1,766 | 1,319 | ||
Other | 4,028 | 5,028 | ||
Total trading securities, assets | 56,136 | 55,953 | ||
Other trading assets | 244 | 215 | [1] | |
Non-trading financial assets mandatory at fair value through profit and loss | 760 | 666 | ||
Financial assets at fair value through other comprehensive income | 5,642 | 5,951 | ||
Loans at amortized cost | [2] | 13 | 210 | |
Other | 481 | 72 | ||
Total | 63,276 | 63,066 | [1] | |
Carrying amount of associated liabilities | € 57,522 | € 53,348 | ||
[1] | Prior year numbers have been restated following the reassessment of one trade. | |||
[2] | Loans where the associated liability is recourse only to the transferred assets had NIL carrying value and fair value as at December 31, 2021 and December 31, 2020. The associated liabilities had the same carrying value and fair value which resulted in a net position of 0 |
Note 20 - Information on the _2
Note 20 - Information on the Asset Types and the Associated Transactions (Detail: Text Values) € in Millions | Dec. 31, 2021EUR (€) |
Loans where associated liability is recourse only to transferred assets [Abstract] | |
Net position of associated liabilities | € 0 |
Note 20 - Continuing Involvemen
Note 20 - Continuing Involvement Accounting (Detail) - Continuing Involvement Accounting [Member] - EUR (€) € in Millions | Dec. 31, 2021 | Dec. 31, 2020 | |
Carrying amount of the original assets transferred [Member] | |||
Continuing Involvemnt Accounting [Line Items] | |||
Trading securities, assets | € 1,050 | € 1,039 | |
Financial assets at fair value through profit or loss | 0 | 0 | |
Non-trading financial assets mandatory at fair value through profit and loss | 308 | 673 | |
Carrying amount of the assets continued to bel recognised [Member] | |||
Continuing Involvemnt Accounting [Line Items] | |||
Trading securities, assets | 61 | 64 | [1] |
Financial assets at fair value through profit or loss | 0 | 0 | |
Non-trading financial assets mandatory at fair value through profit and loss | 15 | 17 | |
Continuing Involvement Accounting, Associated Liabilities [Member] | |||
Continuing Involvemnt Accounting [Line Items] | |||
Carrying amount of associated liabilities | € 102 | € 122 | [1] |
[1] | Prior year numbers have been restated following the reassessment of one trade |
Note 20 - Transferred Assets wi
Note 20 - Transferred Assets with on-going Involvement I (Detail) - The impact on the Groups Balance Sheet of on-going involvement associated with transferred assets derecognized in full [Member] - EUR (€) € in Millions | Dec. 31, 2021 | Dec. 31, 2020 | |
Carrying value [Member] | |||
Loans at amortized cost | |||
Securitization notes | € 283 | € 254 | |
Other | 0 | 7 | |
Total loans at amortized cost | 283 | 261 | |
Financial assets held at Fair Value through the P&L: | |||
Securitization notes | 29 | 28 | |
Non-standard Interest Rate, cross-currency or inflation-linked swap | 465 | 0 | |
Total financial assets at fair value through profit or loss | 494 | 28 | |
Financial assets at fair value through other comprehensive income [Abstract] | |||
Securitization notes | 709 | 624 | |
Other | 0 | 0 | |
Total financial assets at fair value through other comprehensive income | 709 | 624 | |
Total financial assets representing on-going involvement | 1,486 | 913 | |
Financial liabilities held at Fair Value through the P&L: | |||
Non-standard Interest Rate, cross-currency or inflation-linked swap | 8 | 11 | |
Total financial liabilities representing on-going involvement | 8 | 11 | |
Fair value [Member] | |||
Loans at amortized cost | |||
Securitization notes | 302 | 271 | |
Other | 0 | 7 | |
Total loans at amortized cost | 302 | 279 | |
Financial assets held at Fair Value through the P&L: | |||
Securitization notes | 29 | 28 | |
Non-standard Interest Rate, cross-currency or inflation-linked swap | 465 | 0 | |
Total financial assets at fair value through profit or loss | 494 | 28 | |
Financial assets at fair value through other comprehensive income [Abstract] | |||
Securitization notes | 713 | 645 | |
Other | 0 | 0 | |
Total financial assets at fair value through other comprehensive income | 713 | 645 | |
Total financial assets representing on-going involvement | 1,509 | 951 | |
Financial liabilities held at Fair Value through the P&L: | |||
Non-standard Interest Rate, cross-currency or inflation-linked swap | 8 | 11 | |
Total financial liabilities representing on-going involvement | 8 | 11 | |
Maximum Exposure to Loss [Member] | |||
Loans at amortized cost | |||
Securitization notes | [1] | 302 | 271 |
Other | [1] | 0 | 7 |
Total loans at amortized cost | [1] | 302 | 279 |
Financial assets held at Fair Value through the P&L: | |||
Securitization notes | [1] | 29 | 28 |
Non-standard Interest Rate, cross-currency or inflation-linked swap | [1] | 465 | 0 |
Total financial assets at fair value through profit or loss | [1] | 494 | 28 |
Financial assets at fair value through other comprehensive income [Abstract] | |||
Securitization notes | [1] | 713 | 645 |
Other | [1] | 0 | 0 |
Total financial assets at fair value through other comprehensive income | [1] | 713 | 645 |
Total financial assets representing on-going involvement | [1] | 1,509 | 951 |
Financial liabilities held at Fair Value through the P&L: | |||
Non-standard Interest Rate, cross-currency or inflation-linked swap | [1] | 0 | 0 |
Total financial liabilities representing on-going involvement | [1] | € 0 | € 0 |
[1] | The maximum exposure to loss is defined as the carrying value plus the notional value of any undrawn loan commitments not recognized as liabilities. |
Note 20 - Transfers of Financia
Note 20 - Transfers of Financial Assets - Transferred Assets with on-going Involvement II (Detail) - EUR (€) € in Millions | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Year-to- date P&L [Member] | ||
Transferred Assets with on-going Involvement II [line items] | ||
Securitization notes | € 31 | € 22 |
Non-standard Interest Rate, cross-currency or inflation-linked swap | 41 | (1) |
Net gains/(losses) recognized from on-going involvement in derecognized assets | 72 | 21 |
Cumulative P&L [Member] | ||
Transferred Assets with on-going Involvement II [line items] | ||
Securitization notes | 81 | 49 |
Non-standard Interest Rate, cross-currency or inflation-linked swap | 41 | (1) |
Net gains/(losses) recognized from on-going involvement in derecognized assets | 123 | 48 |
Gain/(loss) on disposal [Member] | ||
Transferred Assets with on-going Involvement II [line items] | ||
Securitization notes | 48 | 99 |
Non-standard Interest Rate, cross-currency or inflation-linked swap | 0 | 0 |
Net gains/(losses) recognized from on-going involvement in derecognized assets | € 48 | € 99 |
Note 20 - Carrying value of the
Note 20 - Carrying value of the Groups assets pledged as collateral for liabilities or contingent liabilities (Detail) - Carrying Value of the Assets Pledged as Collateral [Member] - EUR (€) € in Millions | Dec. 31, 2021 | Dec. 31, 2020 | |
Carrying Value of the Assets Pledged as Collateral [Line Items] | |||
Financial assets at fair value through profit or loss | [1] | € 51,165 | € 47,553 |
Financial assets at fair value through other comprehensive income | [1] | 6,395 | 7,858 |
Loans | [1] | 79,485 | 77,433 |
Other | [1] | 611 | 1,257 |
Total | [1] | € 137,656 | € 134,101 |
[1] | Excludes assets pledged as collateral from transactions that do not result in liabilities or contingent liabilities. |
Note 20 - Total assets pledged
Note 20 - Total assets pledged to creditors available for sale or repledge (Detail) - Total assets pledged to creditors [Member] - EUR (€) € in Millions | Dec. 31, 2021 | Dec. 31, 2020 | |
Total assets pledged to creditors [Line Items] | |||
Financial assets at fair value through profit or loss | [1] | € 48,426 | € 44,210 |
Financial assets at fair value through other comprehensive income | [1] | 5,252 | 4,911 |
Loans | [1] | 2,073 | 2,232 |
Other | [1] | 481 | 72 |
Total | [1] | € 56,233 | € 51,426 |
[1] | Includes assets pledged as collateral from transactions that do not result in liabilities or contingent liabilities. |
Note 20 - Fair Value of collate
Note 20 - Fair Value of collateral received (Detail) - EUR (€) € in Millions | Dec. 31, 2021 | Dec. 31, 2020 |
Collateral Received | ||
Securities and other financial assets accepted as collateral | € 260,003 | € 237,157 |
Of which: [Abstract] | ||
collateral sold or repledged | € 222,232 | € 199,346 |
Note 21 - Property and Equipmen
Note 21 - Property and Equipment (Detail) - EUR (€) € in Millions | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Property and Equipment (IFRS 16) [Domain Member] | Carrying value [Member] | ||
Property and Equipment [Line Items] | ||
Property and equipment, beginning of period | € 5,549 | |
Property and equipment, end of period | 5,536 | € 5,549 |
Property and Equipment (IFRS 16) [Domain Member] | Cost of acquisition [Member] | ||
Property and Equipment [Line Items] | ||
Property and equipment, beginning of period | 11,058 | 9,686 |
Changes in the group of consolidated companies | (1) | (3) |
Additions | 804 | 2,317 |
Transfers | 451 | (261) |
Reclassifications (to)/from "held for sale" | (241) | (139) |
Disposals | 578 | 362 |
Exchange rate changes | 244 | (181) |
Property and equipment, end of period | 11,737 | 11,058 |
Property and Equipment (IFRS 16) [Domain Member] | Accumulated depreciation and impairment [Member] | ||
Property and Equipment [Line Items] | ||
Accumulated depreciation and impairment, beginning of period | 5,510 | 4,756 |
Changes in the group of consolidated companies | (1) | (1) |
Depreciation | 991 | 1,021 |
Transfers | 85 | 153 |
Reclassifications (to)/from "held for sale" | (191) | (78) |
Disposals | 436 | 307 |
Exchange rate changes | 103 | (114) |
Impairment losses | 158 | 93 |
Reversals of impairment losses | 18 | 12 |
Accumulated depreciation and impairment, end of period | 6,201 | 5,510 |
Owner occupied properties [Member] | Carrying value [Member] | ||
Property and Equipment [Line Items] | ||
Property and equipment, beginning of period | 270 | |
Property and equipment, end of period | 226 | 270 |
Owner occupied properties [Member] | Cost of acquisition [Member] | ||
Property and Equipment [Line Items] | ||
Property and equipment, beginning of period | 587 | 656 |
Changes in the group of consolidated companies | (1) | 0 |
Additions | 0 | 2 |
Transfers | 58 | 8 |
Reclassifications (to)/from "held for sale" | (131) | (73) |
Disposals | 0 | 2 |
Exchange rate changes | 1 | (4) |
Property and equipment, end of period | 514 | 587 |
Owner occupied properties [Member] | Accumulated depreciation and impairment [Member] | ||
Property and Equipment [Line Items] | ||
Accumulated depreciation and impairment, beginning of period | 317 | 325 |
Changes in the group of consolidated companies | (1) | 0 |
Depreciation | 16 | 16 |
Transfers | 57 | 2 |
Reclassifications (to)/from "held for sale" | (115) | (25) |
Disposals | 0 | 1 |
Exchange rate changes | 1 | (3) |
Impairment losses | 12 | 5 |
Reversals of impairment losses | 0 | 3 |
Accumulated depreciation and impairment, end of period | 288 | 317 |
Furniture and equipment [Member] | Carrying value [Member] | ||
Property and Equipment [Line Items] | ||
Property and equipment, beginning of period | 487 | |
Property and equipment, end of period | 423 | 487 |
Furniture and equipment [Member] | Cost of acquisition [Member] | ||
Property and Equipment [Line Items] | ||
Property and equipment, beginning of period | 2,343 | 2,380 |
Changes in the group of consolidated companies | 0 | (1) |
Additions | 113 | 128 |
Transfers | (8) | 173 |
Reclassifications (to)/from "held for sale" | (16) | (65) |
Disposals | 187 | 223 |
Exchange rate changes | 38 | (50) |
Property and equipment, end of period | 2,283 | 2,343 |
Furniture and equipment [Member] | Accumulated depreciation and impairment [Member] | ||
Property and Equipment [Line Items] | ||
Accumulated depreciation and impairment, beginning of period | 1,856 | 1,841 |
Changes in the group of consolidated companies | 0 | (1) |
Depreciation | 140 | 171 |
Transfers | 16 | 145 |
Reclassifications (to)/from "held for sale" | (15) | (53) |
Disposals | 178 | 206 |
Exchange rate changes | 34 | (42) |
Impairment losses | 7 | 2 |
Reversals of impairment losses | 0 | 0 |
Accumulated depreciation and impairment, end of period | 1,860 | 1,856 |
Leasehold improvements [Member] | Carrying value [Member] | ||
Property and Equipment [Line Items] | ||
Property and equipment, beginning of period | 908 | |
Property and equipment, end of period | 1,007 | 908 |
Leasehold improvements [Member] | Cost of acquisition [Member] | ||
Property and Equipment [Line Items] | ||
Property and equipment, beginning of period | 2,897 | 2,961 |
Changes in the group of consolidated companies | 0 | 0 |
Additions | 46 | 47 |
Transfers | 354 | 43 |
Reclassifications (to)/from "held for sale" | (94) | 0 |
Disposals | 146 | 96 |
Exchange rate changes | 45 | (58) |
Property and equipment, end of period | 3,102 | 2,897 |
Leasehold improvements [Member] | Accumulated depreciation and impairment [Member] | ||
Property and Equipment [Line Items] | ||
Accumulated depreciation and impairment, beginning of period | 1,989 | 1,927 |
Changes in the group of consolidated companies | 0 | 0 |
Depreciation | 204 | 187 |
Transfers | 10 | 2 |
Reclassifications (to)/from "held for sale" | (62) | 0 |
Disposals | 125 | 89 |
Exchange rate changes | 39 | (45) |
Impairment losses | 39 | 8 |
Reversals of impairment losses | 0 | 0 |
Accumulated depreciation and impairment, end of period | 2,095 | 1,989 |
Construction-in-progress [Member] | Carrying value [Member] | ||
Property and Equipment [Line Items] | ||
Property and equipment, beginning of period | 387 | |
Property and equipment, end of period | 398 | 387 |
Construction-in-progress [Member] | Cost of acquisition [Member] | ||
Property and Equipment [Line Items] | ||
Property and equipment, beginning of period | 387 | 155 |
Changes in the group of consolidated companies | 0 | 0 |
Additions | 391 | 335 |
Transfers | (321) | (97) |
Reclassifications (to)/from "held for sale" | (1) | (1) |
Disposals | 79 | 0 |
Exchange rate changes | 21 | (5) |
Property and equipment, end of period | 398 | 387 |
Construction-in-progress [Member] | Accumulated depreciation and impairment [Member] | ||
Property and Equipment [Line Items] | ||
Accumulated depreciation and impairment, beginning of period | 0 | 0 |
Changes in the group of consolidated companies | 0 | 0 |
Depreciation | 0 | 0 |
Transfers | 0 | 0 |
Reclassifications (to)/from "held for sale" | 0 | 0 |
Disposals | 0 | 0 |
Exchange rate changes | 0 | 0 |
Impairment losses | 1 | 0 |
Reversals of impairment losses | 0 | 0 |
Accumulated depreciation and impairment, end of period | 1 | 0 |
Total Property and equipment (IAS 16) [Member] | Carrying value [Member] | ||
Property and Equipment [Line Items] | ||
Property and equipment, beginning of period | 2,051 | |
Property and equipment, end of period | 2,054 | 2,051 |
Total Property and equipment (IAS 16) [Member] | Cost of acquisition [Member] | ||
Property and Equipment [Line Items] | ||
Property and equipment, beginning of period | 6,214 | 6,153 |
Changes in the group of consolidated companies | (1) | (1) |
Additions | 550 | 512 |
Transfers | 83 | 127 |
Reclassifications (to)/from "held for sale" | (241) | (139) |
Disposals | 412 | 321 |
Exchange rate changes | 105 | (117) |
Property and equipment, end of period | 6,297 | 6,214 |
Total Property and equipment (IAS 16) [Member] | Accumulated depreciation and impairment [Member] | ||
Property and Equipment [Line Items] | ||
Accumulated depreciation and impairment, beginning of period | 4,163 | 4,093 |
Changes in the group of consolidated companies | (1) | (1) |
Depreciation | 360 | 373 |
Transfers | 84 | 149 |
Reclassifications (to)/from "held for sale" | (191) | (78) |
Disposals | 303 | 296 |
Exchange rate changes | 74 | (90) |
Impairment losses | 59 | 16 |
Reversals of impairment losses | 0 | 3 |
Accumulated depreciation and impairment, end of period | 4,244 | 4,163 |
Right-of-use for leased assets (IFRS 16) [Member] | Carrying value [Member] | ||
Property and Equipment [Line Items] | ||
Property and equipment, beginning of period | 3,497 | |
Property and equipment, end of period | 3,482 | 3,497 |
Right-of-use for leased assets (IFRS 16) [Member] | Cost of acquisition [Member] | ||
Property and Equipment [Line Items] | ||
Property and equipment, beginning of period | 4,844 | 3,533 |
Changes in the group of consolidated companies | 0 | 1 |
Additions (IFRS 16) | 254 | 1,806 |
Transfers | 367 | 388 |
Reclassifications (to)/from "held for sale" | 0 | 0 |
Disposals | 165 | 41 |
Exchange rate changes | 139 | 64 |
Property and equipment, end of period | 5,439 | 4,844 |
Right-of-use for leased assets (IFRS 16) [Member] | Accumulated depreciation and impairment [Member] | ||
Property and Equipment [Line Items] | ||
Accumulated depreciation and impairment, beginning of period | 1,347 | 663 |
Changes in the group of consolidated companies | 0 | 0 |
Depreciation (IFRS 16) | 631 | 648 |
Transfers | 2 | 5 |
Reclassifications (to)/from "held for sale" | 0 | 0 |
Disposals | 133 | 11 |
Exchange rate changes | 29 | 24 |
Impairment losses | 99 | 77 |
Reversals of impairment losses | 18 | 10 |
Accumulated depreciation and impairment, end of period | € 1,957 | € 1,347 |
Note 21 - Property and Equipm_2
Note 21 - Property and Equipment (Detail: Text Values) - EUR (€) € in Millions | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Property and Equipment [Line Items] | ||
Carrying value of items of property and equipment on which there is a restriction on sale | € 22 | € 23 |
Commitments for the acquisition of property and equipment | 35 | 27 |
Additions to Right-of-use assets (IFRS 16), mainly new real estate leases | 254 | |
Depreciation charges for Right-of-use assets (IFRS 16), mainly resulted from planned consumption for property leases | 631 | |
Carrying amount of right-of-use assets | 3,500 | 3,500 |
of which: Real estate leases | 3,500 | 3,500 |
Of which: Vehicle leases | € 11 | € 12 |
Note 22 - Leases - Future Cash
Note 22 - Leases - Future Cash Outflows (IFRS 16) (Detail) - EUR (€) € in Millions | Dec. 31, 2021 | Dec. 31, 2020 |
Future cash outflow not reflected in lease liabilities: [Abstract] | ||
Not later than one year | € 10 | € 50 |
Later than one year and not later than five years | 539 | 791 |
Later than five years | 5,849 | 5,097 |
Future cash outflows not reflected in lease liabilities | € 6,398 | € 5,938 |
Note 22 - Leases - Parenthetica
Note 22 - Leases - Parenthetical Information (Detail: Text Values) - EUR (€) € in Millions | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Net Carrying Value for each Class of Leasing Assets [Line Items] | ||
Carrying amount of right-of-use assets included in "Property and equipment" | € 3,500 | € 3,500 |
Of which: Properties leases | 3,500 | 3,500 |
Of which: Vehicle leases | 11 | 12 |
Carrying amount of lease liabilities included in "Other liabilities" | 3,965 | 3,974 |
Of which: Total future minimum rental payments for the Group headquarters in Frankfurt am Main that was sold and leased back on December 1, 2011 | 495 | |
Interest expense recorded from the compounding of the lease liabilities | 86 | 79 |
Expenses relating to short-term leases | 2 | 7 |
Expenses relating to low-value assets | 0 | 2 |
Income from the subletting of RoU assets | 34 | 24 |
Total cash outflow for leases | 767 | 729 |
Of which: Expenditures made for real estate rentals | 754 | 708 |
Of which: Principal portion of lease payments | 679 | 653 |
Of which: Payments for the interest portion | 87 | € 77 |
Potential payment exposures arising from extension options | 5,300 | |
Future payments for leases not yet commenced, but to which the Group is committed | € 1,100 |
Note 23 - Changes in Goodwill (
Note 23 - Changes in Goodwill (Detail) - EUR (€) € in Millions | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | ||
Changes in Goodwill [Line Items] | |||
Goodwill, balance, period start | € 2,739 | € 2,881 | |
Goodwill acquired during the year | 5 | 0 | |
Purchase accounting adjustments | 0 | 0 | |
Transfers | 0 | 0 | |
Reclassification from (to) held for sale | (56) | 0 | |
Goodwill related to dispositions without being classified as held for sale | 0 | 0 | |
Impairment losses | (5) | [1] | 0 |
Exchange rate changes/other | 123 | (142) | |
Goodwill, balance, period end | 2,806 | 2,739 | |
Gross amount of goodwill | 11,467 | 11,073 | |
Accumulated impairment losses | (8,662) | (8,334) | |
Investment Bank [Member] | |||
Changes in Goodwill [Line Items] | |||
Goodwill, balance, period start | 0 | 0 | |
Goodwill acquired during the year | 0 | 0 | |
Purchase accounting adjustments | 0 | 0 | |
Transfers | 0 | 0 | |
Reclassification from (to) held for sale | 0 | 0 | |
Goodwill related to dispositions without being classified as held for sale | 0 | 0 | |
Impairment losses | 0 | [1] | 0 |
Exchange rate changes/other | 0 | 0 | |
Goodwill, balance, period end | 0 | 0 | |
Gross amount of goodwill | 3,854 | 3,608 | |
Accumulated impairment losses | (3,854) | (3,608) | |
Corporate Bank [Member] | |||
Changes in Goodwill [Line Items] | |||
Goodwill, balance, period start | 0 | 0 | |
Goodwill acquired during the year | 5 | 0 | |
Purchase accounting adjustments | 0 | 0 | |
Transfers | 0 | 0 | |
Reclassification from (to) held for sale | 0 | 0 | |
Goodwill related to dispositions without being classified as held for sale | 0 | 0 | |
Impairment losses | (5) | [1] | 0 |
Exchange rate changes/other | 0 | 0 | |
Goodwill, balance, period end | 0 | 0 | |
Gross amount of goodwill | 602 | 569 | |
Accumulated impairment losses | (602) | (569) | |
Asset Management [Member] | |||
Changes in Goodwill [Line Items] | |||
Goodwill, balance, period start | 2,739 | 2,881 | |
Goodwill acquired during the year | 0 | 0 | |
Purchase accounting adjustments | 0 | 0 | |
Transfers | 0 | 0 | |
Reclassification from (to) held for sale | (56) | 0 | |
Goodwill related to dispositions without being classified as held for sale | 0 | 0 | |
Impairment losses | 0 | [1] | 0 |
Exchange rate changes/other | 123 | (142) | |
Goodwill, balance, period end | 2,806 | 2,739 | |
Gross amount of goodwill | 3,295 | 3,197 | |
Accumulated impairment losses | (489) | (458) | |
Capital Release Unit [Member] | |||
Changes in Goodwill [Line Items] | |||
Goodwill, balance, period start | 0 | 0 | |
Goodwill acquired during the year | 0 | 0 | |
Purchase accounting adjustments | 0 | 0 | |
Transfers | 0 | 0 | |
Reclassification from (to) held for sale | 0 | 0 | |
Goodwill related to dispositions without being classified as held for sale | 0 | 0 | |
Impairment losses | 0 | [1] | 0 |
Exchange rate changes/other | 0 | 0 | |
Goodwill, balance, period end | 0 | 0 | |
Gross amount of goodwill | 3,716 | 3,698 | |
Accumulated impairment losses | € (3,716) | € (3,698) | |
[1] | Impairment losses of goodwill are recorded as impairment of goodwill and other intangible assets in the income statement. |
Note 23 - Parenthetical Informa
Note 23 - Parenthetical Information Changes in Goodwill (Detail: Text Values) € in Millions | Dec. 31, 2019EUR (€) |
Impairment of Goodwill [Abstract] | |
Recoverable amount for WM | € 1,900 |
Goodwill impairment in WM | 545 |
Recoverable amount for GTB and CF | 10,200 |
Goodwill impairment in GTB and CF | 491 |
Total impairment | 1,000 |
Impairment recorded in PB | 545 |
Impairment recorded in CB | € 491 |
Note 23 - Primary Cash-Generati
Note 23 - Primary Cash-Generating Units (Detail: Text Values) - EUR (€) € in Millions | Dec. 31, 2021 | Dec. 31, 2020 |
Primary Cash-Generating Units | ||
Constant long-term growth rate of up to | 2.70% | 3.10% |
Discount rates (after tax) for AM CGU | 9.10% | 9.80% |
Changes in key assumptions could cause an impairment loss in AM if recoverable amount exceeds the carrying amount by (in %) | 32.00% | |
Changes in key assumptions could cause an impairment loss in AM if recoverable amount exceeds the carrying amount by (in EUR) | € 2,100 |
Note 23 - Critical Values (Deta
Note 23 - Critical Values (Detail) - AM [Member] | 12 Months Ended |
Dec. 31, 2021 | |
Change in Key Assumptions | |
Discount rate (post tax) increase from | 9.10% |
Discount rate (post tax) increase to | 11.30% |
Change in projected future earnings in each period by | 21.10% |
Note 23 - Changes of Other Inta
Note 23 - Changes of Other Intangible Assets by Asset Class (Detail) - EUR (€) € in Millions | 12 Months Ended | |||
Dec. 31, 2021 | Dec. 31, 2020 | |||
Total other intangible assets [Member] | Carrying value [Member] | ||||
Changes of Other Intangible Assets by Asset Class [Line Items] | ||||
Carrying amount, As of | € 4,018 | € 3,986 | ||
Total other intangible assets [Member] | Cost of acquisition/manufacture [Member] | ||||
Changes of Other Intangible Assets by Asset Class [Line Items] | ||||
Cost of acquisition/manufacture, Balance as of | 11,499 | 11,082 | ||
Additions | 1,141 | 1,054 | ||
Changes in the group of consolidated companies | 4 | 0 | ||
Disposals | 98 | 394 | ||
Reclassifications from (to) held for sale | (40) | (46) | ||
Transfers | (6) | 81 | ||
Exchange rate changes | 231 | (277) | ||
Cost of acquisition/manufacture, Balance as of | 12,732 | 11,499 | ||
Total other intangible assets [Member] | Accumulated amortization and impairment [Member] | ||||
Changes of Other Intangible Assets by Asset Class [Line Items] | ||||
Accumulated amortization and impairment, Balance as of | 7,513 | 6,935 | ||
Amortization for the year | 1,017 | [1] | 1,040 | [2] |
Changes in the group of consolidated companies | (1) | 0 | ||
Disposals | 97 | 388 | ||
Reclassifications from (to) held for sale | (9) | (41) | ||
Impairment losses | 152 | [3] | 51 | [4] |
Reversals of impairment losses | 0 | [5] | 2 | |
Transfers | 2 | 84 | ||
Exchange rate changes | 136 | (165) | ||
Accumulated amortization and impairment, Balance as of | 8,714 | 7,513 | ||
Total unamortized purchased intangible assets [Member] | Carrying value [Member] | ||||
Changes of Other Intangible Assets by Asset Class [Line Items] | ||||
Carrying amount, As of | 761 | 708 | ||
Total unamortized purchased intangible assets [Member] | Cost of acquisition/manufacture [Member] | ||||
Changes of Other Intangible Assets by Asset Class [Line Items] | ||||
Cost of acquisition/manufacture, Balance as of | 1,386 | 1,472 | ||
Additions | 0 | 0 | ||
Changes in the group of consolidated companies | 0 | 0 | ||
Disposals | 0 | 0 | ||
Reclassifications from (to) held for sale | 0 | 0 | ||
Transfers | 0 | 0 | ||
Exchange rate changes | 72 | (86) | ||
Cost of acquisition/manufacture, Balance as of | 1,457 | 1,386 | ||
Total unamortized purchased intangible assets [Member] | Accumulated amortization and impairment [Member] | ||||
Changes of Other Intangible Assets by Asset Class [Line Items] | ||||
Accumulated amortization and impairment, Balance as of | 678 | 700 | ||
Amortization for the year | 0 | 0 | ||
Changes in the group of consolidated companies | 0 | 0 | ||
Disposals | 0 | 0 | ||
Reclassifications from (to) held for sale | 0 | 0 | ||
Impairment losses | 0 | 0 | ||
Reversals of impairment losses | 0 | 0 | ||
Transfers | 0 | 0 | ||
Exchange rate changes | 18 | (22) | ||
Accumulated amortization and impairment, Balance as of | 696 | 678 | ||
Purchased unamortized retail investment management agreements [Member] | Carrying value [Member] | ||||
Changes of Other Intangible Assets by Asset Class [Line Items] | ||||
Carrying amount, As of | 760 | 706 | ||
Purchased unamortized retail investment management agreements [Member] | Cost of acquisition/manufacture [Member] | ||||
Changes of Other Intangible Assets by Asset Class [Line Items] | ||||
Cost of acquisition/manufacture, Balance as of | 945 | 1,030 | ||
Additions | 0 | 0 | ||
Changes in the group of consolidated companies | 0 | 0 | ||
Disposals | 0 | 0 | ||
Reclassifications from (to) held for sale | 0 | 0 | ||
Transfers | 0 | 0 | ||
Exchange rate changes | 71 | (85) | ||
Cost of acquisition/manufacture, Balance as of | 1,017 | 945 | ||
Purchased unamortized retail investment management agreements [Member] | Accumulated amortization and impairment [Member] | ||||
Changes of Other Intangible Assets by Asset Class [Line Items] | ||||
Accumulated amortization and impairment, Balance as of | 239 | 260 | ||
Amortization for the year | 0 | 0 | ||
Changes in the group of consolidated companies | 0 | 0 | ||
Disposals | 0 | 0 | ||
Reclassifications from (to) held for sale | 0 | 0 | ||
Impairment losses | 0 | 0 | ||
Reversals of impairment losses | 0 | 0 | ||
Transfers | 0 | 0 | ||
Exchange rate changes | 18 | (22) | ||
Accumulated amortization and impairment, Balance as of | 257 | 239 | ||
Purchased unamortized other intangible assets [Member] | Carrying value [Member] | ||||
Changes of Other Intangible Assets by Asset Class [Line Items] | ||||
Carrying amount, As of | 1 | 2 | ||
Purchased unamortized other intangible assets [Member] | Cost of acquisition/manufacture [Member] | ||||
Changes of Other Intangible Assets by Asset Class [Line Items] | ||||
Cost of acquisition/manufacture, Balance as of | 441 | 442 | ||
Additions | 0 | 0 | ||
Changes in the group of consolidated companies | 0 | 0 | ||
Disposals | 0 | 0 | ||
Reclassifications from (to) held for sale | 0 | 0 | ||
Transfers | 0 | 0 | ||
Exchange rate changes | 1 | (1) | ||
Cost of acquisition/manufacture, Balance as of | 440 | 441 | ||
Purchased unamortized other intangible assets [Member] | Accumulated amortization and impairment [Member] | ||||
Changes of Other Intangible Assets by Asset Class [Line Items] | ||||
Accumulated amortization and impairment, Balance as of | 439 | 440 | ||
Amortization for the year | 0 | 0 | ||
Changes in the group of consolidated companies | 0 | 0 | ||
Disposals | 0 | 0 | ||
Reclassifications from (to) held for sale | 0 | 0 | ||
Impairment losses | 0 | 0 | ||
Reversals of impairment losses | 0 | 0 | ||
Transfers | 0 | 0 | ||
Exchange rate changes | 0 | 0 | ||
Accumulated amortization and impairment, Balance as of | 439 | 439 | ||
Total amortized purchased intangible assets [Member] | Carrying value [Member] | ||||
Changes of Other Intangible Assets by Asset Class [Line Items] | ||||
Carrying amount, As of | 143 | 161 | ||
Total amortized purchased intangible assets [Member] | Cost of acquisition/manufacture [Member] | ||||
Changes of Other Intangible Assets by Asset Class [Line Items] | ||||
Cost of acquisition/manufacture, Balance as of | 2,204 | 2,098 | ||
Additions | 35 | 143 | ||
Changes in the group of consolidated companies | 0 | 0 | ||
Disposals | 12 | 5 | ||
Reclassifications from (to) held for sale | 0 | (37) | ||
Transfers | (5) | 60 | ||
Exchange rate changes | 35 | (55) | ||
Cost of acquisition/manufacture, Balance as of | 2,257 | 2,204 | ||
Total amortized purchased intangible assets [Member] | Accumulated amortization and impairment [Member] | ||||
Changes of Other Intangible Assets by Asset Class [Line Items] | ||||
Accumulated amortization and impairment, Balance as of | 2,043 | 1,982 | ||
Amortization for the year | 43 | 45 | ||
Changes in the group of consolidated companies | 0 | 0 | ||
Disposals | 12 | 3 | ||
Reclassifications from (to) held for sale | 0 | (33) | ||
Impairment losses | 3 | 0 | ||
Reversals of impairment losses | 0 | 0 | ||
Transfers | 3 | 106 | ||
Exchange rate changes | 35 | (54) | ||
Accumulated amortization and impairment, Balance as of | 2,115 | 2,043 | ||
Purchased amortized customer-related intangible assets [Member] | Carrying value [Member] | ||||
Changes of Other Intangible Assets by Asset Class [Line Items] | ||||
Carrying amount, As of | 15 | 16 | ||
Purchased amortized customer-related intangible assets [Member] | Cost of acquisition/manufacture [Member] | ||||
Changes of Other Intangible Assets by Asset Class [Line Items] | ||||
Cost of acquisition/manufacture, Balance as of | 1,356 | 1,403 | ||
Additions | 13 | 5 | ||
Changes in the group of consolidated companies | 0 | 0 | ||
Disposals | 0 | 0 | ||
Reclassifications from (to) held for sale | 0 | 0 | ||
Transfers | (5) | 0 | ||
Exchange rate changes | 34 | (53) | ||
Cost of acquisition/manufacture, Balance as of | 1,398 | 1,356 | ||
Purchased amortized customer-related intangible assets [Member] | Accumulated amortization and impairment [Member] | ||||
Changes of Other Intangible Assets by Asset Class [Line Items] | ||||
Accumulated amortization and impairment, Balance as of | 1,340 | 1,384 | ||
Amortization for the year | 6 | 8 | ||
Changes in the group of consolidated companies | 0 | 0 | ||
Disposals | 0 | 0 | ||
Reclassifications from (to) held for sale | 0 | 0 | ||
Impairment losses | 3 | 0 | ||
Reversals of impairment losses | 0 | 0 | ||
Transfers | 0 | 0 | ||
Exchange rate changes | 34 | (52) | ||
Accumulated amortization and impairment, Balance as of | 1,383 | 1,340 | ||
Purchased amortized contract-based intangible assets [Member] | Carrying value [Member] | ||||
Changes of Other Intangible Assets by Asset Class [Line Items] | ||||
Carrying amount, As of | 0 | 0 | ||
Purchased amortized contract-based intangible assets [Member] | Cost of acquisition/manufacture [Member] | ||||
Changes of Other Intangible Assets by Asset Class [Line Items] | ||||
Cost of acquisition/manufacture, Balance as of | 70 | 70 | ||
Additions | 0 | 0 | ||
Changes in the group of consolidated companies | 0 | 0 | ||
Disposals | 0 | 0 | ||
Reclassifications from (to) held for sale | 0 | 0 | ||
Transfers | 0 | 0 | ||
Exchange rate changes | 0 | 0 | ||
Cost of acquisition/manufacture, Balance as of | 70 | 70 | ||
Purchased amortized contract-based intangible assets [Member] | Accumulated amortization and impairment [Member] | ||||
Changes of Other Intangible Assets by Asset Class [Line Items] | ||||
Accumulated amortization and impairment, Balance as of | 70 | 70 | ||
Amortization for the year | 0 | 0 | ||
Changes in the group of consolidated companies | 0 | 0 | ||
Disposals | 0 | 0 | ||
Reclassifications from (to) held for sale | 0 | 0 | ||
Impairment losses | 0 | 0 | ||
Reversals of impairment losses | 0 | 0 | ||
Transfers | 0 | 0 | ||
Exchange rate changes | 0 | 0 | ||
Accumulated amortization and impairment, Balance as of | 70 | 70 | ||
Purchased amortized software and other [Member] | Carrying value [Member] | ||||
Changes of Other Intangible Assets by Asset Class [Line Items] | ||||
Carrying amount, As of | 128 | 145 | ||
Purchased amortized software and other [Member] | Cost of acquisition/manufacture [Member] | ||||
Changes of Other Intangible Assets by Asset Class [Line Items] | ||||
Cost of acquisition/manufacture, Balance as of | 778 | 625 | ||
Additions | 22 | 138 | ||
Changes in the group of consolidated companies | 0 | 0 | ||
Disposals | 12 | 5 | ||
Reclassifications from (to) held for sale | 0 | (37) | ||
Transfers | 0 | 60 | ||
Exchange rate changes | 1 | (2) | ||
Cost of acquisition/manufacture, Balance as of | 789 | 778 | ||
Purchased amortized software and other [Member] | Accumulated amortization and impairment [Member] | ||||
Changes of Other Intangible Assets by Asset Class [Line Items] | ||||
Accumulated amortization and impairment, Balance as of | 633 | 528 | ||
Amortization for the year | 37 | 37 | ||
Changes in the group of consolidated companies | 0 | 0 | ||
Disposals | 12 | 3 | ||
Reclassifications from (to) held for sale | 0 | (33) | ||
Impairment losses | 0 | 0 | ||
Reversals of impairment losses | 0 | 0 | ||
Transfers | 3 | 106 | ||
Exchange rate changes | 1 | (2) | ||
Accumulated amortization and impairment, Balance as of | 662 | 633 | ||
Internally generated amortized software [Member] | Carrying value [Member] | ||||
Changes of Other Intangible Assets by Asset Class [Line Items] | ||||
Carrying amount, As of | 3,114 | 3,117 | ||
Internally generated amortized software [Member] | Cost of acquisition/manufacture [Member] | ||||
Changes of Other Intangible Assets by Asset Class [Line Items] | ||||
Cost of acquisition/manufacture, Balance as of | 7,910 | 7,512 | ||
Additions | 1,106 | 911 | ||
Changes in the group of consolidated companies | 5 | 0 | ||
Disposals | 86 | 390 | ||
Reclassifications from (to) held for sale | (40) | (9) | ||
Transfers | (1) | 21 | ||
Exchange rate changes | 125 | (136) | ||
Cost of acquisition/manufacture, Balance as of | 9,018 | 7,910 | ||
Internally generated amortized software [Member] | Accumulated amortization and impairment [Member] | ||||
Changes of Other Intangible Assets by Asset Class [Line Items] | ||||
Accumulated amortization and impairment, Balance as of | 4,793 | 4,254 | ||
Amortization for the year | 974 | 994 | ||
Changes in the group of consolidated companies | 0 | 0 | ||
Disposals | 85 | 385 | ||
Reclassifications from (to) held for sale | (9) | (8) | ||
Impairment losses | 149 | 50 | ||
Reversals of impairment losses | 0 | 2 | ||
Transfers | 0 | (22) | ||
Exchange rate changes | 83 | (88) | ||
Accumulated amortization and impairment, Balance as of | € 5,904 | € 4,793 | ||
[1] | € 2 million | |||
[2] | € 1.0 billion | |||
[3] | € 1.0 billion | |||
[4] | € 51 million | |||
[5] | € 152 million € 149 million € 3 million |
Note 23 - Changes of Other In_2
Note 23 - Changes of Other Intangible Assets by Asset Class (Detail:Text Values) € in Millions | 12 Months Ended |
Dec. 31, 2021EUR (€) | |
Changes of Other Intangible Assets by Asset Class [Abstract] | |
Changes of other intangible assets included in general and administrative expenses | € 1,000 |
Changes of other intangible assets mainly comprised of impairments of self-developed software recorded in general and administrative expenses | 51 |
Changes of other intangible assets comprised of reversal of impairments of self-developed software recorded in general and administrative expenses | 2 |
Changes in other intangible assets amortization included in general and administrative expenses [line item] | 1,000 |
Changes of other intangible assets: impairment losses comprised of | 152 |
Changes of other intangible assets comprised of impairments of EUR million on self-developed software | 149 |
Changes of other intangible assets on customer-related intangibles | € 3 |
Note 23 - Parenthetical Infor_2
Note 23 - Parenthetical Information Other Amortizing Intangible Assets (Detail: Text Values) - EUR (€) € in Millions | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Parenthetical Information Other Amortizing Intangible Assets [Line Items] | |||
Decrease of amortizing other intangible assets, net | € 21 | ||
Mainly driven by [Abstract] | |||
Amortization expenses | 1,000 | € 161 | |
Of which: scheduled consumption of capitalized software | 1,000 | 1,000 | € 1,200 |
Of which: impairment of current platform software and software under construction | 149 | 50 | |
Of which: Additions to internally generated intangible assets | 1,100 | 1,100 | 1,300 |
Of which: Negative exchange rate changes | € 42 | € 112 | 26 |
Of which: Positive exchange rate changes | 1,000 | ||
Increase of amortizing other intangible assets, net | 1,100 | ||
Impairment of self-developed software | € 937 |
Note 23 - Parenthetical Infor_3
Note 23 - Parenthetical Information Other Unamortizing Intangible Assets (Detail: Text Values - Asset Management [Member] - EUR (€) € in Millions | Dec. 31, 2021 | Dec. 31, 2020 |
Retail investment management agreements [Abstract] | ||
Assets, related to the Groups U.S. retail mutual fund business, aquired in 2002, calculated at fair value less costs of disposal | € 760 | |
Discount rates (cost of equity) applied in the calculation | 10.30% | |
Discount rates (cost of equity) applied in the calculation | 9.80% | |
Terminal value growth rate applied for 2018 is up to | 4.10% | |
Terminal value growth rate applied for 2019 is up to | 4.10% |
Note 24 - Non-Current Assets an
Note 24 - Non-Current Assets and Disposal Groups Held for Sale - Components of Other Non-Current Assets and Disposal Groups Held for Sale (Detail) - Components of Other Non-Current Assets and Disposal Groups Held for Sale [Member] - EUR (€) € in Millions | Dec. 31, 2021 | Dec. 31, 2020 |
Other assets [Member] | ||
Components of Other Non-Current Assets and Disposal Groups Held for Sale [Line Items] | ||
Cash and central bank balances | € 6 | |
Financial assets at fair value through profit or loss | 0 | € 6,086 |
Property and equipment | 9 | 11 |
Other assets | 296 | 0 |
Total assets classified as held for sale | 398 | 6,097 |
Other liabilities [Member] | ||
Components of Other Non-Current Assets and Disposal Groups Held for Sale [Line Items] | ||
Financial liabilities at fair value through profit or loss | 0 | 2,000 |
Other liabilities | 252 | 7,850 |
Total liabilities classified as held for sale | € 252 | € 9,850 |
Note 24 - Non-Current Assets _2
Note 24 - 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 (€) | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Transfer of Global Prime Finance and Electronic Equities platform to BNP Paribas S.A. | ||
Classification of assets as held for sale of the Capital Release Unit (CRU) | € 6,100,000,000 | € 5,000,000,000 |
Classification of liabilities as held for sale of the Capital Release Unit (CRU) | 9,900,000,000 | € 9,600,000,000 |
DWS Transfer of Digital investment platform to BlackFin | € 0.30 |
Note 25 - Components of Other A
Note 25 - Components of Other Assets (Detail) - EUR (€) € in Millions | Dec. 31, 2021 | Dec. 31, 2020 | |
Brokerage and securities related receivables [Abstracts] | |||
Cash/margin receivables | € 48,675 | € 58,714 | |
Receivables from prime brokerage | 5 | 41 | |
Pending securities transactions past settlement date | 3,579 | 2,752 | |
Receivables from unsettled regular way trades | 19,236 | 13,057 | |
Total brokerage and securities related receivables | 71,495 | 74,564 | |
Debt securities held to collect | 14,800 | 12,587 | |
Accrued interest receivable | 2,084 | 1,656 | |
Assets held for sale | 398 | 6,097 | |
Other | 15,007 | 15,456 | |
Total other assets | [1] | € 103,784 | € 110,360 |
[1] | Includes non-current assets and disposal groups held for sale |
Note 25 - Components of Other L
Note 25 - Components of Other Liabilities (Detail) - EUR (€) € in Millions | Dec. 31, 2021 | Dec. 31, 2020 |
Brokerage and securities related payables [Abstract] | ||
Cash/margin payables | € 52,875 | € 66,259 |
Payables from prime brokerage | 583 | 271 |
Pending securities transactions past settlement date, liabilities | 1,549 | 1,612 |
Payables from unsettled regular way trades | 15,158 | 11,668 |
Brokerage and securities related payables | 70,165 | 79,810 |
Accrued interest payable | 1,625 | 1,740 |
Liabilities held for sale | 252 | 9,850 |
Lease liabilities | 3,965 | 3,974 |
Other | 21,788 | 18,834 |
Total other liabilities | € 97,795 | € 114,208 |
Note 26 - Components of Deposit
Note 26 - Components of Deposits (Detail) - EUR (€) € in Millions | Dec. 31, 2021 | Dec. 31, 2020 |
Components of Deposits [Line Items] | ||
Noninterest-bearing demand deposits | € 226,091 | € 220,501 |
Interest-bearing deposits [Abstract] | ||
Demand deposits | 167,807 | 154,704 |
Time deposits | 122,478 | 106,551 |
Savings deposits | 88,021 | 85,989 |
Total interest-bearing deposits | 378,306 | 347,244 |
Total deposits | € 604,396 | € 567,745 |
Note 27 - Movements by Class of
Note 27 - Movements by Class of Provision (Detail) - EUR (€) € in Millions | 12 Months Ended | |||
Dec. 31, 2021 | Dec. 31, 2020 | |||
Operational Risk [Member] | ||||
Movements by Class of Provision [Line Items] | ||||
Balance as of, start period | € 89 | € 119 | ||
Changes in the group of consolidated companies | 0 | 0 | ||
New provisions | 62 | 20 | ||
Amounts used | 2 | 11 | ||
Unused amounts reversed | 106 | 39 | ||
Effects from exchange rate fluctuations/ Unwind of discount | 0 | 0 | ||
Transfers | 0 | 0 | ||
Balance as of, end period | 42 | 89 | ||
Civil Litigations [Member] | ||||
Movements by Class of Provision [Line Items] | ||||
Balance as of, start period | 355 | 544 | ||
Changes in the group of consolidated companies | 0 | 0 | ||
New provisions | 475 | 107 | ||
Amounts used | 112 | 182 | ||
Unused amounts reversed | 78 | 106 | ||
Effects from exchange rate fluctuations/ Unwind of discount | 6 | (9) | ||
Transfers | (1) | 0 | ||
Balance as of, end period | 644 | 355 | ||
Regulatory Enforcement [Member] | ||||
Movements by Class of Provision [Line Items] | ||||
Balance as of, start period | 492 | 543 | ||
Changes in the group of consolidated companies | 0 | 0 | ||
New provisions | 110 | 183 | ||
Amounts used | 113 | 165 | ||
Unused amounts reversed | 40 | 27 | ||
Effects from exchange rate fluctuations/ Unwind of discount | 26 | (41) | ||
Transfers | 0 | (1) | ||
Balance as of, end period | 475 | 492 | ||
Restructuring [Member] | ||||
Movements by Class of Provision [Line Items] | ||||
Balance as of, start period | 676 | 684 | ||
Changes in the group of consolidated companies | 0 | 0 | ||
New provisions | 302 | 553 | ||
Amounts used | 339 | 641 | ||
Unused amounts reversed | 58 | 105 | ||
Effects from exchange rate fluctuations/ Unwind of discount | 1 | 4 | ||
Transfers | 0 | 181 | ||
Balance as of, end period | 582 | 676 | ||
Other [Member] | ||||
Movements by Class of Provision [Line Items] | ||||
Balance as of, start period | 396 | 384 | ||
Changes in the group of consolidated companies | 2 | (3) | ||
New provisions | 641 | 505 | ||
Amounts used | 470 | 401 | ||
Unused amounts reversed | 151 | 84 | ||
Effects from exchange rate fluctuations/ Unwind of discount | 7 | (15) | ||
Transfers | 24 | 8 | ||
Balance as of, end period | 448 | 396 | ||
Total [Member] | ||||
Movements by Class of Provision [Line Items] | ||||
Balance as of, start period | 2,007 | [1] | 2,276 | |
Changes in the group of consolidated companies | [1] | 2 | (4) | |
New provisions | [1] | 1,590 | 1,368 | |
Amounts used | [1] | 1,036 | 1,400 | |
Unused amounts reversed | [1] | 434 | 361 | |
Effects from exchange rate fluctuations/ Unwind of discount | [1] | 40 | (60) | |
Transfers | [1] | 22 | 189 | |
Balance as of, end period | [1] | € 2,192 | € 2,007 | |
[1] | For the remaining portion of provisions as disclosed on the consolidated balance sheet, please see Note 19 “Allowance for Credit Losses”, in which allowances for credit related off-balance sheet positions are disclosed. |
Note 27 - Provisions Parentheti
Note 27 - Provisions Parenthetical Information (Detail: Text Values) € / shares in Units, £ in Millions, SFr in Millions | 12 Months Ended | ||||||||
Dec. 31, 2021EUR (€)€ / sharesshares | Dec. 31, 2021USD ($) | Dec. 31, 2021GBP (£) | Dec. 31, 2020EUR (€) | Dec. 31, 2020USD ($) | Dec. 31, 2020GBP (£) | Dec. 31, 2020CHF (SFr) | Dec. 31, 2021USD ($)shares | Dec. 31, 2020USD ($) | |
Estimated aggregated future loss (more than remote but less than probable) [Abstract] | |||||||||
Civil Litigation matters | € 1,700,000,000 | € 2,100,000,000 | |||||||
Regulatory enfocement matters | 100,000,000 | 200,000,000 | |||||||
Danske Bank Estonia Investigations [Abstract] | |||||||||
Payment of administrative fine to FPP in 2020 in EURO | 13,500,000 | ||||||||
Payment of civil penalty to DFS in 2020 in connection with relationships to three former Deutsche Bank clients, Danske Banks Estonia branch, Jeffrey Epstein and FBME Bank, in U.S. D. | $ | $ 150,000,000 | ||||||||
BGH [Abstract] | |||||||||
Civil litigation class provision in the second quarter of 2021 in EUR | 130,000,000 | ||||||||
Cum-ex Investigations and Litigations [Abstract] | |||||||||
Demand from Federal Central Tax Office for tax refunds paid to former custody client in EURO | 49,000,000 | ||||||||
Payment of liability notice from Federal Central Tax Office by January 20, 2020 in connection with tax refund claims in EURO | 2,100,000 | ||||||||
Total indemnification claim of M.M.Warburg for transactions conducted in the years 2007 to 2011 in EURO | 250,000,000 | ||||||||
of which: related to taxes in EUR | 166,000,000 | ||||||||
of which: related to interest in EUR | 84,000,000 | ||||||||
Extended indemnification claim of M.M.Warburg for same transactions raised in 2020 in EURO | 176,000,000 | ||||||||
of which: related to taxes in EURO | 166,000,000 | ||||||||
of which: related to interest in EURO | 10,000,000 | ||||||||
Warburg claims in 2021, total, in EUR | 86,000,000 | ||||||||
of which: related to taxes in EUR | 63,000,000 | ||||||||
Of which: related to interests, in EUR | 23,000,000 | ||||||||
Further Warburg claims in relation to the criminal confiscation, in EUR | 54,000,000 | ||||||||
Claim for one of the funds, Warburg Invest received a tax liability notice from tax authorities in 2020 in EURO | 61,000,000 | ||||||||
Deutsche Bank estimation for tax amount for second fund, approximately in EURO | 49,000,000 | ||||||||
BNY estimation of potential Cum-Ex related tax liabilities in EURO | € 120,000,000 | ||||||||
BNY estimation of potential Cum-Ex tax liabilities in percent | 0.06 | ||||||||
FX Investigations & Litigations [Abstract] | |||||||||
DB Brazil Settlement on 7th Dec 2016 in BRL (fine payment) | € 51,000,000 | ||||||||
Civil monetary penalty agreement (Board of Governors of the Federal Reserve System) in U.S. D | $ | $ 137,000,000 | ||||||||
Civil monetary penalty agreement (New York State Department of Financial Services) in U.S. D | $ | $ 205,000,000 | ||||||||
Global settlement | $ | 10,000,000 | ||||||||
Interbank Offered Rates Matters [Abstract] | |||||||||
Payment to European Commission in relation to anticompetitive conduct in the trading of interest rate derivatives (as reported in 2013) in EUR | € 725,000,000 | ||||||||
Payment for misconduct concerning to LIBOR settlement to DOJ & CFTC (as reported in 2015) in U.S. D | $ | $ 2,175,000,000 | ||||||||
Payment for misconduct concerning to LIBOR settlement to FCA (as reported in 2015) in GBP | £ | £ 226.8 | ||||||||
Fine payment to Swiss Competition Commission (WEKO) pursuant to a settlement agreement in relation to Yen LIBOR in CHF | SFr | SFr 5.4 | ||||||||
Payment of settlement with US State attornys investigation in interbank offered rates in U.S. D | $ | 220,000,000 | ||||||||
Payment of settlement agreement on July 29, 2020, as part of the U.S. dollar LIBOR MDL asserting claims on behalf of lending institutions headquartered in the United States in USD | $ | 425,000 | ||||||||
Claims in Spain filed against Deutsche Bank by claimants with mortgage loans held by banks and other financial institutions in EURO | € 1,000,000 | ||||||||
Claims in Spain: Damages being reduced to (in percent) | 0.10 | ||||||||
Investigations Into Referral Hiring Practices and Certain Business Relationships [Abstract] | |||||||||
Agreement with SEC for payment to resolve investigation into DB's hiring practices related to candidates referred by clients, potential clients and government officials in USD | $ | 16,000,000 | ||||||||
Deferred prosecution agreement (DPA) with the DOJ concerning spoofing in precious metals in USD | $ | 8,000,000 | ||||||||
of which: credited by virtue of Deutsche Banks 2018 resolution with the CFTC in USD | $ | 6,000,000 | ||||||||
Settlement with SEC to resolve investigation into conduct regarding the Banks compliance with the FCPA with respect to the Banks engagement of finders and consultants in USD | $ | $ 43,000,000 | ||||||||
Jeffrey Epstein Investigations [Abstract] | |||||||||
Civil penalty in connection with these three former Deutsche Bank Clients Danske Banks Estonia branch, Jeffrey Epstein and FBME Bank which was paid by the bank in U.S. dollar | $ | 150,000,000 | ||||||||
Mortgage-Related and Asset-Backed Securities Matters and Investigation [Abstract] | |||||||||
Payment of a civil monetary penalty for RMBS claims from 2005 to 2007 (settlement with DOJ) in U.S. D | $ | $ 3,100,000,000 | ||||||||
Agreed consumer releif for RMBS claims from 2005 to 2007 (settlement with DOJ, fullfillment confirmed from DOJ in 2020) in U.S. D | $ | 4,100,000,000 | ||||||||
Settlement with Maryland Attorney General of payment for RMBS and CDO businesses from 2002 to 2009 in U.S. D mn. | $ | 15,000,000 | ||||||||
Agreed consumer relief settlement with Maryland Attorney General (to be allocated from the overall U.S.D 4.1 billion consumer relief obligation agreed to as part of Deutsche Banks settlement with the DOJ, fullfillment confirmed from DOJ in 2020) in U.S. D | $ | 80,000,000 | ||||||||
Issuer and underwriter litigation [Abstract] | |||||||||
Settlement of the class action relating to the underwriting of six RMBS offerings by Novastar Mortgage Corporation in U.S.Dollar a portion of which was paid by the bank | $ | 165,000,000 | ||||||||
Polish Mortgages [Abstract] | |||||||||
Reimbursement of alleged overpayments | € 250,000,000 | ||||||||
Polish mortgages: Number of civil claims | 2,000 | ||||||||
Provisions for the reimbursement of alleged overpayments | € 165,000,000 | ||||||||
Postbank Voluntary Public Takeover Offer [Abstract] | |||||||||
Takeover offer for Postbank shareholder in EUR per share | € / shares | € 25 | ||||||||
Total number of shares accepted in takeover in shares | shares | 48,200,000 | 48,200,000 | |||||||
Claim (raised in 2010 by Effecten-Spiegel AG) for raising the takeover share price offer to EUR per share | € / shares | € 57.25 | ||||||||
Claim (raised in 2014 by additional former shareholders of Postbank) for raising the takeover share price offer in EUR per share | € / shares | 57.25 | ||||||||
Increase of takeover share price offer to shareholders which have accepted the takeover in EUR per share | € / shares | 32.25 | ||||||||
Additional claims (raised in 2017) for raising the takeover share price offer to EUR per share | € / shares | € 64.25 | ||||||||
Total payment claims against Deutsche Bank in relation to Postbank takeover (excluding interest) | € 700,000,000 | ||||||||
Further Proceedings Relating to the Postbank Takeover [Abstract] | |||||||||
Decisive takeover price for determining an appropriate cash compensation, claimed by applicants in the appraisal proceedings in Euro per share | € / shares | € 57.25 | ||||||||
Regional Court Cologne decision from October 1, 2020 [Abstract] | |||||||||
Increase of annual compensation pursuant to Section 304 of the German Stock Corporation Act (jaehrliche Ausgleichszahlung), in EURO per share | € / shares | 0.12 | ||||||||
New saldo after increase of annual compensation pursuant to Section 304 of the German Stock Corporation Act (jaehrliche Ausgleichszahlung), in EURO per share | € / shares | 1.78 | ||||||||
Increase of settlement amount pursuant to Section 305 of the German Stock Corporation Act (Abfindungsbetrag), in EURO per share | € / shares | 4.56 | ||||||||
New saldo after increase of settlement amount pursuant to Section 305 of the German Stock Corporation Act (Abfindungsbetrag), in EURO per share | € / shares | € 29.74 | ||||||||
Number of former Postbank shares affected from increase of the settlement amount, approximately | shares | 492,000 | 492,000 | |||||||
Number of former Postbank shares affected from increase of the annual compensation, approximately | shares | 7,000,000 | 7,000,000 | |||||||
Investigations into the Banks anti-money laundering (AML) control function in its investment banking division [Abstract] | |||||||||
Settlement agreement with DFS to pay civil monetary penalties in U.S.Dollar | $ | 425,000,000 | ||||||||
Settlement agreement with FCA to pay civil monetary penalties in GBP | £ | £ 163 | ||||||||
Payment of penalty for AML issues identified by the Federal Reserve in U.S.Dollar | $ | 41,000,000 | ||||||||
Sovereign, Supranational and Agency Bonds (SSA) Investigations and Litigations [Abstract] | |||||||||
Agreement with U.S. District Court for the Southern District of New York to settle the actions (alleging violations of U.S. antitrust law and common law related to alleged manipulation of the secondary trading market for SSA bonds) in U.S. D | $ | 48,500,000 | ||||||||
Fine against DB Mexico resulting from alleging violations of U.S. antitrust law and a claim for unjust enrichment relating to Mexican government bond trading, in USD | $ | $ 427,000 | ||||||||
Agreement to settle class actions (violations of antitrust law and common law related to alleged manipulation of the secondary trading market for US Agency bonds), already fully reflected in existing litigation reserves in USD | $ | 15,000,000 | ||||||||
Class action settlement with Deutsche Bank separately as to the class action settlements with the other defendants in U.S.Dollar | $ | $ 386,500,000 | ||||||||
US Treasury Securities Investigations [Abstract] | |||||||||
Civil monetary fine again Deutsche Bank Securities Inc. (DBSI) for alleged spoofing by two Tokyo-based traders between January and December 2013, in USD | $ | $ 1,250,000 |
Note 28 - Other Commitments and
Note 28 - Other Commitments and Contingent Liabilities (Detail) - EUR (€) € in Millions | Dec. 31, 2021 | Dec. 31, 2020 |
Commitments and Contingent Liabilities [Line Items] | ||
Irrevocable lending commitments | € 177,334 | € 165,643 |
Revocable lending commitments | 49,798 | 50,233 |
Contingent liabilities | 59,394 | 47,978 |
Total | € 286,525 | € 263,854 |
Note 28 - Other Commitments a_2
Note 28 - Other Commitments and Contingent Liabilities (Detail) - EUR (€) € in Millions | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Other Commitments and Contingent Liabilities [Abstract] | ||
Other commitments | € 163 | € 144 |
Other contingent liabilities | 77 | 73 |
Total | € 240 | € 217 |
Note 28 Contingent and commitme
Note 28 Contingent and commitment - Parenthetical information (Detail: Text Values) - EUR (€) € in Millions | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Commitments and Contingent Liabilities [Abstract] | ||
Irrevocable payment commitments related to bank levy | € 1,078.8 | € 915.6 |
Note 29 - Components of Other S
Note 29 - Components of Other Short-Term Borrowings (Detail) - EUR (€) € in Millions | Dec. 31, 2021 | Dec. 31, 2020 |
Other short-term borrowings [Abstract] | ||
Commercial paper | € 1,840 | € 1,748 |
Other | 2,194 | 1,804 |
Total other short-term borrowings | € 4,034 | € 3,553 |
Note 30 - Long-Term Debt by Con
Note 30 - Long-Term Debt by Contractual Maturity (Detail) - EUR (€) € in Millions | Dec. 31, 2021 | Dec. 31, 2020 | |
Total [Domain Member] | Debt Seniority [Domain Member] | |||
By remaining maturities [Abstract] | |||
Other Long-Term Debt by Contractual Maturity | € 53,960 | € 48,103 | |
Long-term debt | 144,485 | 149,163 | |
Total [Domain Member] | Senior debt, Bonds and notes [Member] | |||
By remaining maturities [Abstract] | |||
Fixed rate | 63,446 | 66,402 | [1] |
Floating rate | 18,182 | 26,990 | [1] |
Total [Domain Member] | Subordinated debt, Bonds and notes [Member] | |||
By remaining maturities [Abstract] | |||
Fixed rate | 7,191 | 6,049 | |
Floating rate | 1,412 | 1,303 | |
Other Long-Term Debt by Contractual Maturity | 293 | € 316 | |
Due in 2022 [Member] | Debt Seniority [Domain Member] | |||
By remaining maturities [Abstract] | |||
Other Long-Term Debt by Contractual Maturity | 37,217 | ||
Long-term debt | 49,434 | ||
Due in 2022 [Member] | Senior debt, Bonds and notes [Member] | |||
By remaining maturities [Abstract] | |||
Fixed rate | 9,053 | ||
Floating rate | 3,134 | ||
Due in 2022 [Member] | Subordinated debt, Bonds and notes [Member] | |||
By remaining maturities [Abstract] | |||
Fixed rate | 14 | ||
Floating rate | 0 | ||
Other Long-Term Debt by Contractual Maturity | 15 | ||
Due in 2023 [Member] | Debt Seniority [Domain Member] | |||
By remaining maturities [Abstract] | |||
Other Long-Term Debt by Contractual Maturity | 3,597 | ||
Long-term debt | 17,832 | ||
Due in 2023 [Member] | Senior debt, Bonds and notes [Member] | |||
By remaining maturities [Abstract] | |||
Fixed rate | 11,529 | ||
Floating rate | 1,373 | ||
Due in 2023 [Member] | Subordinated debt, Bonds and notes [Member] | |||
By remaining maturities [Abstract] | |||
Fixed rate | 33 | ||
Floating rate | 1,197 | ||
Other Long-Term Debt by Contractual Maturity | 103 | ||
Due in 2024 [Member] | Debt Seniority [Domain Member] | |||
By remaining maturities [Abstract] | |||
Other Long-Term Debt by Contractual Maturity | 6,853 | ||
Long-term debt | 19,542 | ||
Due in 2024 [Member] | Senior debt, Bonds and notes [Member] | |||
By remaining maturities [Abstract] | |||
Fixed rate | 10,179 | ||
Floating rate | 2,327 | ||
Due in 2024 [Member] | Subordinated debt, Bonds and notes [Member] | |||
By remaining maturities [Abstract] | |||
Fixed rate | 74 | ||
Floating rate | 21 | ||
Other Long-Term Debt by Contractual Maturity | 88 | ||
Due in 2025 [Member] | Debt Seniority [Domain Member] | |||
By remaining maturities [Abstract] | |||
Other Long-Term Debt by Contractual Maturity | 791 | ||
Long-term debt | 12,643 | ||
Due in 2025 [Member] | Senior debt, Bonds and notes [Member] | |||
By remaining maturities [Abstract] | |||
Fixed rate | 5,791 | ||
Floating rate | 3,243 | ||
Due in 2025 [Member] | Subordinated debt, Bonds and notes [Member] | |||
By remaining maturities [Abstract] | |||
Fixed rate | 2,623 | ||
Floating rate | 194 | ||
Other Long-Term Debt by Contractual Maturity | 0 | ||
Due in 2026 [Member] | Debt Seniority [Domain Member] | |||
By remaining maturities [Abstract] | |||
Other Long-Term Debt by Contractual Maturity | 752 | ||
Long-term debt | 15,980 | ||
Due in 2026 [Member] | Senior debt, Bonds and notes [Member] | |||
By remaining maturities [Abstract] | |||
Fixed rate | 9,986 | ||
Floating rate | 3,234 | ||
Due in 2026 [Member] | Subordinated debt, Bonds and notes [Member] | |||
By remaining maturities [Abstract] | |||
Fixed rate | 1,967 | ||
Floating rate | 0 | ||
Other Long-Term Debt by Contractual Maturity | 42 | ||
Due after 2026 [Member] | Debt Seniority [Domain Member] | |||
By remaining maturities [Abstract] | |||
Other Long-Term Debt by Contractual Maturity | 4,749 | ||
Long-term debt | 29,054 | ||
Due after 2026 [Member] | Senior debt, Bonds and notes [Member] | |||
By remaining maturities [Abstract] | |||
Fixed rate | 16,909 | ||
Floating rate | 4,871 | ||
Due after 2026 [Member] | Subordinated debt, Bonds and notes [Member] | |||
By remaining maturities [Abstract] | |||
Fixed rate | 2,479 | ||
Floating rate | 0 | ||
Other Long-Term Debt by Contractual Maturity | € 46 | ||
[1] | Prior years' comparatives aligned to presentation in the current year. |
Note 30 - Fixed and Floating Ra
Note 30 - Fixed and Floating Rate Trust Preferred Securities (Detail) - EUR (€) € in Millions | Dec. 31, 2021 | Dec. 31, 2020 | |
Fixed and Floating Rate Trust Preferred Securities [Abstract] | |||
Fixed rate | [1] | € 0 | € 269 |
Floating rate | [1] | 528 | 1,052 |
Total trust preferred securities | [1] | € 528 | € 1,321 |
[1] | Perpetual instruments, redeemable at specific future dates at the Group’s option. |
Note 31 - Maturity Analysis of
Note 31 - Maturity Analysis of Financial Liabilities (IFRS) (Detail) - EUR (€) € in Millions | Dec. 31, 2021 | Dec. 31, 2020 | ||
On demand [Member] | ||||
Maturity Analysis of Financial Liabilities (IFRS) [Line Items] | ||||
Noninterest bearing deposits | € 226,091 | € 220,501 | ||
Interest-bearing deposits | 169,144 | 154,777 | ||
Trading liabilities | 54,676 | [1] | 44,289 | [2] |
Negative market values from derivative financial instruments | 287,109 | [1] | 327,775 | [2] |
Financial liabilities designated at fair value through profit or loss | 30,911 | 23,692 | ||
Investment contract liabilities | 0 | [3] | 0 | [4] |
Negative market values from derivative financial instruments qualifying for hedge accounting | 0 | [5] | 0 | [6] |
Central bank funds purchased | 0 | 0 | ||
Securities sold under repurchase agreements, Financial Liabilities | 227 | 1,815 | ||
Securities loaned | 24 | 1,697 | ||
Other short-term borrowings | 2,676 | 1,385 | ||
Long-term debt | 0 | 1 | ||
Trust preferred securities | 0 | 0 | ||
Lease liabilities | 37 | 49 | ||
Other financial liabilities | 78,311 | 86,618 | ||
Off-balance sheet loan commitments | 175,114 | 164,843 | ||
Financial guarantees | 24,024 | 20,337 | ||
Total | 1,048,344 | [7] | 1,047,779 | [8] |
Due within 3 months [Member] | ||||
Maturity Analysis of Financial Liabilities (IFRS) [Line Items] | ||||
Noninterest bearing deposits | 0 | 0 | ||
Interest-bearing deposits | 118,909 | 105,566 | ||
Trading liabilities | 0 | [1] | 0 | [2] |
Negative market values from derivative financial instruments | 0 | [1] | 0 | [2] |
Financial liabilities designated at fair value through profit or loss | 7,582 | 16,204 | ||
Investment contract liabilities | 0 | [3] | 0 | [4] |
Negative market values from derivative financial instruments qualifying for hedge accounting | 678 | [5] | 354 | [6] |
Central bank funds purchased | 0 | 0 | ||
Securities sold under repurchase agreements, Financial Liabilities | 33 | 17 | ||
Securities loaned | 0 | 0 | ||
Other short-term borrowings | 953 | 919 | ||
Long-term debt | 36,692 | 14,430 | ||
Trust preferred securities | 0 | 0 | ||
Lease liabilities | 142 | 128 | ||
Other financial liabilities | 3,225 | 2,565 | ||
Off-balance sheet loan commitments | 0 | 0 | ||
Financial guarantees | 0 | 0 | ||
Total | 168,213 | [7] | 140,182 | [8] |
Due between 3 and 12 months [Member] | ||||
Maturity Analysis of Financial Liabilities (IFRS) [Line Items] | ||||
Noninterest bearing deposits | 0 | 0 | ||
Interest-bearing deposits | 71,020 | 64,729 | ||
Trading liabilities | 0 | [1] | 0 | [2] |
Negative market values from derivative financial instruments | 0 | [1] | 0 | [2] |
Financial liabilities designated at fair value through profit or loss | 16,764 | 3,451 | ||
Investment contract liabilities | 562 | [3] | 526 | [4] |
Negative market values from derivative financial instruments qualifying for hedge accounting | 423 | [5] | 66 | [6] |
Central bank funds purchased | 0 | 0 | ||
Securities sold under repurchase agreements, Financial Liabilities | 40 | 0 | ||
Securities loaned | 0 | 0 | ||
Other short-term borrowings | 607 | 1,530 | ||
Long-term debt | 14,770 | 48,164 | ||
Trust preferred securities | 529 | 1,345 | ||
Lease liabilities | 503 | 522 | ||
Other financial liabilities | 337 | 225 | ||
Off-balance sheet loan commitments | 0 | 0 | ||
Financial guarantees | 0 | 0 | ||
Total | 105,556 | [7] | 120,556 | [8] |
Due between 1 and 5 years [Member] | ||||
Maturity Analysis of Financial Liabilities (IFRS) [Line Items] | ||||
Noninterest bearing deposits | 0 | 0 | ||
Interest-bearing deposits | 12,195 | 13,815 | ||
Trading liabilities | 0 | [1] | 0 | [2] |
Negative market values from derivative financial instruments | 0 | [1] | 0 | [2] |
Financial liabilities designated at fair value through profit or loss | 2,249 | 2,127 | ||
Investment contract liabilities | 0 | [3] | 0 | [4] |
Negative market values from derivative financial instruments qualifying for hedge accounting | 286 | [5] | 319 | [6] |
Central bank funds purchased | 0 | 0 | ||
Securities sold under repurchase agreements, Financial Liabilities | 448 | 504 | ||
Securities loaned | 0 | 0 | ||
Other short-term borrowings | 0 | 0 | ||
Long-term debt | 71,239 | 68,130 | ||
Trust preferred securities | 0 | 0 | ||
Lease liabilities | 1,750 | 1,804 | ||
Other financial liabilities | 456 | 501 | ||
Off-balance sheet loan commitments | 0 | 0 | ||
Financial guarantees | 0 | 0 | ||
Total | 88,623 | [7] | 87,200 | [8] |
Due after 5 years [Member] | ||||
Maturity Analysis of Financial Liabilities (IFRS) [Line Items] | ||||
Noninterest bearing deposits | 0 | 0 | ||
Interest-bearing deposits | 10,015 | 10,230 | ||
Trading liabilities | 0 | [1] | 0 | [2] |
Negative market values from derivative financial instruments | 0 | [1] | 0 | [2] |
Financial liabilities designated at fair value through profit or loss | 2,438 | 2,095 | ||
Investment contract liabilities | 0 | [3] | 0 | [4] |
Negative market values from derivative financial instruments qualifying for hedge accounting | 79 | [5] | 541 | [6] |
Central bank funds purchased | 0 | 0 | ||
Securities sold under repurchase agreements, Financial Liabilities | 8 | 1 | ||
Securities loaned | 0 | 0 | ||
Other short-term borrowings | 0 | 0 | ||
Long-term debt | 31,449 | 31,637 | ||
Trust preferred securities | 0 | 0 | ||
Lease liabilities | 2,082 | 2,064 | ||
Other financial liabilities | 12 | 16 | ||
Off-balance sheet loan commitments | 0 | 0 | ||
Financial guarantees | 0 | 0 | ||
Total | € 46,083 | [7] | € 46,584 | [8] |
[1] | Trading liabilities and derivatives not qualifying for hedge accounting balances are recorded at fair value. The Group believes that this best represents the cash flow that would have to be paid if these positions had to be closed out. Trading liabilities and derivatives not qualifying for hedge accounting balances are shown within “on demand” which Group’s management believes most accurately reflects the short-term nature of trading activities. The contractual maturity of the instruments may however extend over significantly longer periods. | |||
[2] | Trading liabilities and derivatives not qualifying for hedge accounting balances are recorded at fair value. The Group believes that this best represents the cash flow that would have to be paid if these positions had to be closed out. Trading liabilities and derivatives not qualifying for hedge accounting balances are shown within “on demand” which Group’s management believes most accurately reflects the short-term nature of trading activities. The contractual maturity of the instruments may however extend over significantly longer periods. | |||
[3] | These are investment contracts where the policy terms and conditions result in their redemption value equaling fair value. | |||
[4] | These are investment contracts where the policy terms and conditions result in their redemption value equaling fair value. | |||
[5] | Derivatives designated for hedge accounting are recorded at fair value and are shown in the time bucket at which the hedged relationship is expected to terminate. | |||
[6] | Derivatives designated for hedge accounting are recorded at fair value and are shown in the time bucket at which the hedged relationship is expected to terminate. | |||
[7] | The balances in the table do not agree to the numbers in the Group’s balance sheet as the cash flows included in the table are undiscounted. This analysis represents the worst case scenario for the Group if the Group was required to repay all liabilities earlier than expected. The Group believes that the likelihood of such an event occurring is remote. | |||
[8] | The balances in the table do not agree to the numbers in the Group’s balance sheet as the cash flows included in the table are undiscounted. This analysis represents the worst case scenario for the Group if the Group was required to repay all liabilities earlier than expected. The Group believes that the likelihood of such an event occurring is remote. |
Note 32 - Common Shares (Detail
Note 32 - Common Shares (Detail) | 12 Months Ended | |
Dec. 31, 2021EUR (€)shares | Dec. 31, 2020EUR (€)shares | |
Issued and fully paid [Member] | ||
Number of shares [line items] | ||
Common shares, beginning balance | 2,066,773,131 | |
Shares issued under share-based compensation plans | € | 0 | |
Capital increase | 0 | |
Shares purchased for treasury | 0 | |
Shares sold or distributed from treasury | 0 | |
Common shares, ending balance | 2,066,773,131 | |
Treasury shares [Member] | ||
Number of shares [line items] | ||
Common shares, beginning balance | (1,346,166) | (671,357) |
Shares issued under share-based compensation plans | € | 0 | 0 |
Capital increase | 0 | 0 |
Shares purchased for treasury | (35,979,884) | (35,058,705) |
Shares sold or distributed from treasury | 36,647,102 | 34,383,896 |
Common shares, ending balance | (678,948) | (1,346,166) |
Outstanding [Member] | ||
Number of shares [line items] | ||
Common shares, beginning balance | 2,065,426,965 | 2,066,101,774 |
Shares issued under share-based compensation plans | € | 0 | 0 |
Capital increase | 0 | 0 |
Shares purchased for treasury | (35,979,884) | (35,058,705) |
Shares sold or distributed from treasury | 36,647,102 | 34,383,896 |
Common shares, ending balance | 2,066,094,183 | 2,065,426,965 |
Note 32 - Common Shares - Divid
Note 32 - Common Shares - Dividends (Detail) - EUR (€) € / shares in Units, € in Millions | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Dividends | |||
Cash dividends declared | € 413,000,000 | € 0 | € 0 |
Cash dividends declared per common share (in EUR per share) | € 0.20 | € 0 | € 0 |
Note 32 - Common Shares - Paren
Note 32 - Common Shares - Parenthetical Information (Detail: Text Values) € / shares in Units, € in Millions | Dec. 31, 2021EUR (€)€ / shares |
Parenthetical Information Note 34 | |
Nominal value of each share derived by dividing the total amount of share capital by the number of shares | € / shares | € 2.56 |
Authorized capital available to the Management Board | € 2,560 |
Authorized capital to increase share capital by issuing new share for cash and noncash | 512,000,000 |
Authorized capital to increase share capital by issuing new share for cash | 2,048,000,000 |
Conditional Capital with expiration date for the issuance of conversion and/or option rights by April 30, 2017 | 512,000,000 |
Conditional Capital with expiration date for the issuance of conversion and/or option rights by April 30, 2019 | € 51,200,000 |
Note 33 - Employee Benefits - M
Note 33 - Employee Benefits - Movements In Share Award Units (Detail) € in Millions | 12 Months Ended | |
Dec. 31, 2021EUR (€) | Dec. 31, 2020EUR (€) | |
Movements in share awards units [Line Items] | ||
Number of Awards Outstanding at beginning of year | 119,206 | 169,590 |
Number of Awards Granted | 50,554 | 45,269 |
Released | € (43,206) | € (32,693) |
Number of Awards Forfeited | (4,537) | (62,518) |
Number of Awards Other Movements | (200) | (441) |
Number of Awards Outstanding at end of year | 121,818 | 119,206 |
Note 33 - Employee Benefits - A
Note 33 - Employee Benefits - Awards Granted Released and Remaining (Detail) - DB Equity Plans [Domain Member] - EUR (€) | Dec. 31, 2021 | Dec. 31, 2020 |
Share-Based Plans [Line Items] | ||
Weighted average fair value per award granted in year | € 9.25 | € 7.20 |
Weighted average share price at release in year | 10.58 | 7.79 |
Weighted average remaining contractual life in years | € 2 | € 2 |
Note 33 - Employee Benefits - D
Note 33 - Employee Benefits - DWS Share Awards (Detail) | 12 Months Ended | |
Dec. 31, 2021EUR (€) | Dec. 31, 2020EUR (€) | |
DWS Equity Plan [Member] | ||
Number of Awards [Abstract] | ||
Number of Awards Outstanding at beginning of year | 2,418,000 | |
Number of Awards Granted | 709,000 | 805,000 |
Number of Awards Issued or Exercised | (583,000) | (368,000) |
Number of Awards Forfeited | (110,000) | (54,000) |
Number of Awards Expired | 0 | 0 |
Number of Awards Other Movements | (18,000) | (6,000) |
Number of Awards Outstanding at end of year | 2,415,000 | 2,418,000 |
Weighted-average exercise price [Abstract] | ||
Weighted-average exercise price outstanding, of which, exercisable | € 0 | € 0 |
DWS SAR Plan [Member] | ||
Number of Awards [Abstract] | ||
Number of Awards Outstanding at beginning of year | 1,254,000 | |
Number of Awards Granted | 0 | 0 |
Number of Awards Issued or Exercised | (256,000) | (766,000) |
Number of Awards Forfeited | (14,000) | (52,000) |
Number of Awards Expired | (36,000) | 0 |
Number of Awards Other Movements | 0 | (14,000) |
Number of Awards of which, exercisable | 739,000 | |
Number of Awards Outstanding at end of year | 948,000 | 1,254,000 |
Weighted-average exercise price [Abstract] | ||
Weighted-average exercise price outstanding at beginning of year | € 24.65 | |
Weighted-average exercise price granted | 0 | € 0 |
Weighted-average exercise price issued or exercised | 24.65 | 24.65 |
Weighted-average exercise price forfeited | 24.65 | 24.65 |
Weighted-average exercise price expired | 24.65 | 0 |
Weighted-average exercise price other movements | 24.65 | 24.65 |
Weighted-average exercise price outstanding at end of year | 24.65 | 24.65 |
Weighted-average exercise price outstanding, of which, exercisable | € 0 | € 0 |
Note 33 - Employee Benefits -_2
Note 33 - Employee Benefits - DWS Awards Granted Released and Remaining (Detail) - EUR (€) | Dec. 31, 2021 | Dec. 31, 2020 |
DWS Equity Plan [Member] | ||
DWS Share-Based Plans [Line Items] | ||
Weighted average fair value per award granted in year | € 30.44 | € 29.07 |
Weighted average share price at release/ exercise in year | 37.24 | 34.88 |
Weighted average remaining contractual life in years | 2 | 2 |
DWS SAR Plan [Member] | ||
DWS Share-Based Plans [Line Items] | ||
Weighted average share price at release/ exercise in year | 39.59 | 31.95 |
Weighted average remaining contractual life in years | € 4 | € 5 |
Note 33 - Employee Benefits -_3
Note 33 - Employee Benefits - DWS Share based Plans (Detail) - DWS Share-Based Plans [Domain Member] - EUR (€) | Dec. 31, 2021 | Dec. 31, 2020 |
DWS Share based Plans [Line Items] | ||
Units (in thousands) | 948 | 1,254 |
Fair value | € 10.99 | € 10.68 |
Share price | 35.48 | 34.80 |
Exercise price | € 24.65 | € 24.65 |
Expected volatility (weighted-average, in percent) | 32.00% | 33.00% |
Expected life (weighted-average, in years) | 4 | 5 |
Expected dividends (in percent of income) | 65.00% | 65.00% |
Note 33 - Employee Benefits - P
Note 33 - Employee Benefits - Post-employment Benefit Plans - Breakdown of Benefit Obligation (Detail) - EUR (€) € in Millions | Dec. 31, 2021 | Dec. 31, 2020 | ||
Defined benefit obligation related to | ||||
Active plan participants | € 6,136 | € 6,540 | ||
Participants in deferred status | 6,237 | 6,187 | ||
Participants in payment status | 8,031 | 8,080 | ||
Defined benefit obligation | 20,404 | 20,807 | ||
Fair value of plan assets | € 20,888 | € 20,457 | ||
Funding ratio (in %) | 102.00% | 98.00% | ||
Germany [Member] | ||||
Defined benefit obligation related to | ||||
Active plan participants | € 4,626 | € 4,950 | ||
Participants in deferred status | 2,535 | 2,639 | ||
Participants in payment status | 5,936 | 5,943 | ||
Defined benefit obligation | 13,097 | 13,532 | ||
Fair value of plan assets | € 12,642 | € 12,658 | ||
Funding ratio (in %) | 97.00% | 94.00% | ||
UK [Member] | ||||
Defined benefit obligation related to | ||||
Active plan participants | € 632 | € 706 | ||
Participants in deferred status | 3,020 | 2,876 | ||
Participants in payment status | 1,277 | 1,335 | ||
Defined benefit obligation | 4,929 | 4,917 | ||
Fair value of plan assets | € 6,019 | € 5,705 | ||
Funding ratio (in %) | 122.00% | 116.00% | ||
US [Member] | ||||
Defined benefit obligation related to | ||||
Active plan participants | € 243 | € 236 | ||
Participants in deferred status | 564 | 561 | ||
Participants in payment status | 544 | 530 | ||
Defined benefit obligation | 1,351 | 1,327 | ||
Fair value of plan assets | € 1,148 | € 1,107 | ||
Funding ratio (in %) | 85.00% | [1] | 83.00% | [2] |
Other [Member] | ||||
Defined benefit obligation related to | ||||
Active plan participants | € 635 | € 648 | ||
Participants in deferred status | 118 | 111 | ||
Participants in payment status | 274 | 272 | ||
Defined benefit obligation | 1,027 | 1,031 | ||
Fair value of plan assets | € 1,079 | € 987 | ||
Funding ratio (in %) | 105.00% | 96.00% | ||
[1] | US Total defined benefit obligation is inclusive of the unfunded US Medicare Plan ( € 170 million 97 % | |||
[2] | US Total defined benefit obligation is inclusive of the unfunded US Medicare Plan ( € 168 million 96 % |
Note 33 - Employee Benefits - B
Note 33 - Employee Benefits - Benefits Expected to be paid by the Retirement Benefit Plans (Impact on Cashflows) (Detail) € in Millions | Dec. 31, 2021EUR (€) |
Actual benefit payments 2020 | |
Benefits Expected to be paid by the Retirement Benefit Plans (Impact on Cashflows) [Line Items] | |
Benefits Expected to be paid by the Retirement Benefit Plans | € 765 |
Actual benefit payments 2020 | Germany [Member] | |
Benefits Expected to be paid by the Retirement Benefit Plans (Impact on Cashflows) [Line Items] | |
Benefits Expected to be paid by the Retirement Benefit Plans | 477 |
Actual benefit payments 2020 | UK [Member] | |
Benefits Expected to be paid by the Retirement Benefit Plans (Impact on Cashflows) [Line Items] | |
Benefits Expected to be paid by the Retirement Benefit Plans | 134 |
Actual benefit payments 2020 | US [Member] | |
Benefits Expected to be paid by the Retirement Benefit Plans (Impact on Cashflows) [Line Items] | |
Benefits Expected to be paid by the Retirement Benefit Plans | 87 |
Actual benefit payments 2020 | Other [Member] | |
Benefits Expected to be paid by the Retirement Benefit Plans (Impact on Cashflows) [Line Items] | |
Benefits Expected to be paid by the Retirement Benefit Plans | 67 |
Benefits expected to be paid 2021 | |
Benefits Expected to be paid by the Retirement Benefit Plans (Impact on Cashflows) [Line Items] | |
Benefits Expected to be paid by the Retirement Benefit Plans | 894 |
Benefits expected to be paid 2021 | Germany [Member] | |
Benefits Expected to be paid by the Retirement Benefit Plans (Impact on Cashflows) [Line Items] | |
Benefits Expected to be paid by the Retirement Benefit Plans | 515 |
Benefits expected to be paid 2021 | UK [Member] | |
Benefits Expected to be paid by the Retirement Benefit Plans (Impact on Cashflows) [Line Items] | |
Benefits Expected to be paid by the Retirement Benefit Plans | 235 |
Benefits expected to be paid 2021 | US [Member] | |
Benefits Expected to be paid by the Retirement Benefit Plans (Impact on Cashflows) [Line Items] | |
Benefits Expected to be paid by the Retirement Benefit Plans | 78 |
Benefits expected to be paid 2021 | Other [Member] | |
Benefits Expected to be paid by the Retirement Benefit Plans (Impact on Cashflows) [Line Items] | |
Benefits Expected to be paid by the Retirement Benefit Plans | 66 |
Benefits expected to be paid 2022 | |
Benefits Expected to be paid by the Retirement Benefit Plans (Impact on Cashflows) [Line Items] | |
Benefits Expected to be paid by the Retirement Benefit Plans | 799 |
Benefits expected to be paid 2022 | Germany [Member] | |
Benefits Expected to be paid by the Retirement Benefit Plans (Impact on Cashflows) [Line Items] | |
Benefits Expected to be paid by the Retirement Benefit Plans | 523 |
Benefits expected to be paid 2022 | UK [Member] | |
Benefits Expected to be paid by the Retirement Benefit Plans (Impact on Cashflows) [Line Items] | |
Benefits Expected to be paid by the Retirement Benefit Plans | 133 |
Benefits expected to be paid 2022 | US [Member] | |
Benefits Expected to be paid by the Retirement Benefit Plans (Impact on Cashflows) [Line Items] | |
Benefits Expected to be paid by the Retirement Benefit Plans | 79 |
Benefits expected to be paid 2022 | Other [Member] | |
Benefits Expected to be paid by the Retirement Benefit Plans (Impact on Cashflows) [Line Items] | |
Benefits Expected to be paid by the Retirement Benefit Plans | 64 |
Benefits expected to be paid 2023 | |
Benefits Expected to be paid by the Retirement Benefit Plans (Impact on Cashflows) [Line Items] | |
Benefits Expected to be paid by the Retirement Benefit Plans | 832 |
Benefits expected to be paid 2023 | Germany [Member] | |
Benefits Expected to be paid by the Retirement Benefit Plans (Impact on Cashflows) [Line Items] | |
Benefits Expected to be paid by the Retirement Benefit Plans | 542 |
Benefits expected to be paid 2023 | UK [Member] | |
Benefits Expected to be paid by the Retirement Benefit Plans (Impact on Cashflows) [Line Items] | |
Benefits Expected to be paid by the Retirement Benefit Plans | 143 |
Benefits expected to be paid 2023 | US [Member] | |
Benefits Expected to be paid by the Retirement Benefit Plans (Impact on Cashflows) [Line Items] | |
Benefits Expected to be paid by the Retirement Benefit Plans | 80 |
Benefits expected to be paid 2023 | Other [Member] | |
Benefits Expected to be paid by the Retirement Benefit Plans (Impact on Cashflows) [Line Items] | |
Benefits Expected to be paid by the Retirement Benefit Plans | 67 |
Benefits expected to be paid 2024 | |
Benefits Expected to be paid by the Retirement Benefit Plans (Impact on Cashflows) [Line Items] | |
Benefits Expected to be paid by the Retirement Benefit Plans | 865 |
Benefits expected to be paid 2024 | Germany [Member] | |
Benefits Expected to be paid by the Retirement Benefit Plans (Impact on Cashflows) [Line Items] | |
Benefits Expected to be paid by the Retirement Benefit Plans | 560 |
Benefits expected to be paid 2024 | UK [Member] | |
Benefits Expected to be paid by the Retirement Benefit Plans (Impact on Cashflows) [Line Items] | |
Benefits Expected to be paid by the Retirement Benefit Plans | 161 |
Benefits expected to be paid 2024 | US [Member] | |
Benefits Expected to be paid by the Retirement Benefit Plans (Impact on Cashflows) [Line Items] | |
Benefits Expected to be paid by the Retirement Benefit Plans | 81 |
Benefits expected to be paid 2024 | Other [Member] | |
Benefits Expected to be paid by the Retirement Benefit Plans (Impact on Cashflows) [Line Items] | |
Benefits Expected to be paid by the Retirement Benefit Plans | 63 |
Benefits expected to be paid 2025 | |
Benefits Expected to be paid by the Retirement Benefit Plans (Impact on Cashflows) [Line Items] | |
Benefits Expected to be paid by the Retirement Benefit Plans | 888 |
Benefits expected to be paid 2025 | Germany [Member] | |
Benefits Expected to be paid by the Retirement Benefit Plans (Impact on Cashflows) [Line Items] | |
Benefits Expected to be paid by the Retirement Benefit Plans | 577 |
Benefits expected to be paid 2025 | UK [Member] | |
Benefits Expected to be paid by the Retirement Benefit Plans (Impact on Cashflows) [Line Items] | |
Benefits Expected to be paid by the Retirement Benefit Plans | 165 |
Benefits expected to be paid 2025 | US [Member] | |
Benefits Expected to be paid by the Retirement Benefit Plans (Impact on Cashflows) [Line Items] | |
Benefits Expected to be paid by the Retirement Benefit Plans | 83 |
Benefits expected to be paid 2025 | Other [Member] | |
Benefits Expected to be paid by the Retirement Benefit Plans (Impact on Cashflows) [Line Items] | |
Benefits Expected to be paid by the Retirement Benefit Plans | 63 |
Benefits expected to be paid 2026 to 2030 | |
Benefits Expected to be paid by the Retirement Benefit Plans (Impact on Cashflows) [Line Items] | |
Benefits Expected to be paid by the Retirement Benefit Plans | 4,813 |
Benefits expected to be paid 2026 to 2030 | Germany [Member] | |
Benefits Expected to be paid by the Retirement Benefit Plans (Impact on Cashflows) [Line Items] | |
Benefits Expected to be paid by the Retirement Benefit Plans | 3,119 |
Benefits expected to be paid 2026 to 2030 | UK [Member] | |
Benefits Expected to be paid by the Retirement Benefit Plans (Impact on Cashflows) [Line Items] | |
Benefits Expected to be paid by the Retirement Benefit Plans | 961 |
Benefits expected to be paid 2026 to 2030 | US [Member] | |
Benefits Expected to be paid by the Retirement Benefit Plans (Impact on Cashflows) [Line Items] | |
Benefits Expected to be paid by the Retirement Benefit Plans | 410 |
Benefits expected to be paid 2026 to 2030 | Other [Member] | |
Benefits Expected to be paid by the Retirement Benefit Plans (Impact on Cashflows) [Line Items] | |
Benefits Expected to be paid by the Retirement Benefit Plans | € 323 |
Note 33 - Employee Benefits -_4
Note 33 - Employee Benefits - Actuarial Assumptions (Detail) | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | ||
Germany [Member] | |||
Actuarial Assumptions [line items] | |||
Discount rate (in percent) | 1.10% | 0.60% | |
Rate of price inflation (in percent) | 2.19% | 1.29% | |
Rate of nominal increase in future compensation levels (in percent) | 2.42% | 1.79% | |
Rate of nominal increase for pensions in payment (in percent) | 2.10% | 1.19% | |
Assumed life expectancy at age 65 | |||
For a male aged 65 at measurement date | 21.3 | 21.2 | |
For a female aged 65 at measurement date | 23.5 | 23.5 | |
For a male aged 45 at measurement date | 22.6 | 22.5 | |
For a female aged 45 at measurement date | 24.6 | 24.6 | |
UK [Member] | |||
Actuarial Assumptions [line items] | |||
Discount rate (in percent) | 1.86% | 1.26% | |
Rate of price inflation (in percent) | 3.73% | 3.22% | |
Rate of nominal increase in future compensation levels (in percent) | 4.23% | 3.72% | |
Rate of nominal increase for pensions in payment (in percent) | 3.49% | 3.08% | |
Assumed life expectancy at age 65 | |||
For a male aged 65 at measurement date | 23.5 | 23.5 | |
For a female aged 65 at measurement date | 25.1 | 25 | |
For a male aged 45 at measurement date | 24.6 | 24.5 | |
For a female aged 45 at measurement date | 26.5 | 26.4 | |
US [Member] | |||
Actuarial Assumptions [line items] | |||
Discount rate (in percent) | [1] | 2.73% | 2.31% |
Rate of price inflation (in percent) | [1] | 2.30% | 2.10% |
Rate of nominal increase in future compensation levels (in percent) | [1] | 2.40% | 2.20% |
Rate of nominal increase for pensions in payment (in percent) | [1] | 2.30% | 2.10% |
Assumed life expectancy at age 65 | |||
For a male aged 65 at measurement date | [1] | 21.9 | 21.8 |
For a female aged 65 at measurement date | [1] | 23.3 | 23.2 |
For a male aged 45 at measurement date | [1] | 23.3 | 23.2 |
For a female aged 45 at measurement date | [1] | 24.7 | 24.5 |
Other [Member] | |||
Actuarial Assumptions [line items] | |||
Discount rate (in percent) | 1.92% | 1.51% | |
Rate of price inflation (in percent) | 1.88% | 1.54% | |
Rate of nominal increase in future compensation levels (in percent) | 2.69% | 2.57% | |
Rate of nominal increase for pensions in payment (in percent) | 1.05% | 0.86% | |
Assumed life expectancy at age 65 | |||
For a male aged 65 at measurement date | 22 | 22 | |
For a female aged 65 at measurement date | 24 | 24.2 | |
For a male aged 45 at measurement date | 23.4 | 23.3 | |
For a female aged 45 at measurement date | 25.4 | 25.6 | |
[1] | Cash balance interest crediting rate in line with the 30-year US government bond yield |
Note 33 - Employee Benefits - R
Note 33 - Employee Benefits - Reconciliation in Movement of Liabilities and Assets - Impact on Balance Sheet (Detail) - EUR (€) € in Millions | 12 Months Ended | ||||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |||
Reconciliation in Movement of Liabilities and Assets, Impact on Balance Sheet, Grouping [Domain Member] | |||||
thereof, Reconciliation | |||||
Net asset (liability) recognized | € 394 | [1] | € (388) | [2] | € (40) |
Change in the present value of the defined benefit obligation [Member] | |||||
Reconciliation in Movement of Liabilities and Assets, Impact on Balance Sheet [line items] | |||||
Change in the present value of the defined benefit obligation: Balance, beginning of year | 20,807 | 20,418 | |||
Defined benefit cost recognized in Profit & Loss [Abstract] | |||||
Current service cost | 250 | 282 | |||
Interest cost | 190 | 268 | |||
Past service cost and gain or loss arising from settlements | 12 | (11) | |||
Defined benefit cost recognized in Other Comprehensive Income [Abstract] | |||||
Actuarial gain or loss arising from changes in financial assumptions | (610) | 1,250 | |||
Actuarial gain or loss arising from changes in demographic assumptions | (16) | 92 | |||
Actuarial gain or loss arising from experience | 80 | (152) | |||
Cash flow and other changes [Abstract] | |||||
Contributions by plan participants | 15 | 19 | |||
Benefits paid | (765) | (792) | |||
Payments in respect to settlements | 0 | 0 | |||
Acquisitions/Divestitures, Cashflows and other changes | 0 | (158) | |||
Exchange rate changes | 441 | (410) | |||
Other, Cash Flow and Other Changes | 0 | 1 | |||
Change in the present value of the defined benefit obligation: Balance, end of year | 20,404 | 20,807 | 20,418 | ||
thereof, Reconciliation | |||||
Unfunded | 301 | 315 | |||
Funded | 20,103 | 20,492 | |||
Change in fair value of plan assets [Member] | |||||
Reconciliation in Movement of Liabilities and Assets, Impact on Balance Sheet [line items] | |||||
Change in fair value of plan assets: Balance, beginning of year | 20,457 | 19,655 | |||
Defined benefit cost recognized in Profit & Loss [Abstract] | |||||
Interest income | 190 | 263 | |||
Defined benefit cost recognized in Other Comprehensive Income [Abstract] | |||||
Return from plan assets less interest income | 301 | 1,335 | |||
Cash flow and other changes [Abstract] | |||||
Contributions by plan participants | 15 | 19 | |||
Contributions by the employer | 177 | 528 | |||
Benefits paid | (738) | [3] | (764) | [4] | |
Payments in respect to settlements | 0 | 0 | |||
Acquisitions/Divestitures, Cashflows and other changes | 0 | (137) | |||
Exchange rate changes | 495 | (433) | |||
Other, Cash Flow and Other Changes | 0 | 0 | |||
thereof, Reconciliation | |||||
Plan administration costs | (9) | (9) | |||
Change in fair value of plan assets: Balance, end of year | 20,888 | 20,457 | 19,655 | ||
Funded status, end of year | 484 | (350) | |||
Change in irrecoverable surplus (asset ceiling) [Member] | |||||
Reconciliation in Movement of Liabilities and Assets, Impact on Balance Sheet [line items] | |||||
Change in irrecoverable surplus (asset ceiling): Balance, beginning of year | (38) | ||||
Defined benefit cost recognized in Profit & Loss [Abstract] | |||||
Interest cost | 0 | 0 | |||
Defined benefit cost recognized in Other Comprehensive Income [Abstract] | |||||
Changes in irrecoverable surplus | (48) | 2 | |||
Cash flow and other changes [Abstract] | |||||
Exchange rate changes | (4) | 0 | |||
thereof, Reconciliation | |||||
Change in irrecoverable surplus (asset ceiling): Balance, end of year | (90) | (38) | |||
Germany [Member] | Reconciliation in Movement of Liabilities and Assets, Impact on Balance Sheet, Grouping [Domain Member] | |||||
thereof, Reconciliation | |||||
Net asset (liability) recognized | (455) | (874) | 0 | ||
Germany [Member] | Change in the present value of the defined benefit obligation [Member] | |||||
Reconciliation in Movement of Liabilities and Assets, Impact on Balance Sheet [line items] | |||||
Change in the present value of the defined benefit obligation: Balance, beginning of year | 13,532 | 13,270 | |||
Defined benefit cost recognized in Profit & Loss [Abstract] | |||||
Current service cost | 177 | 200 | |||
Interest cost | 80 | 122 | |||
Past service cost and gain or loss arising from settlements | 28 | (22) | [5] | ||
Defined benefit cost recognized in Other Comprehensive Income [Abstract] | |||||
Actuarial gain or loss arising from changes in financial assumptions | (319) | 536 | |||
Actuarial gain or loss arising from changes in demographic assumptions | 0 | 110 | |||
Actuarial gain or loss arising from experience | 75 | (73) | |||
Cash flow and other changes [Abstract] | |||||
Contributions by plan participants | 1 | 4 | |||
Benefits paid | (477) | (456) | |||
Payments in respect to settlements | 0 | 0 | |||
Acquisitions/Divestitures, Cashflows and other changes | 0 | (158) | |||
Exchange rate changes | 0 | 0 | |||
Other, Cash Flow and Other Changes | 0 | (1) | |||
Change in the present value of the defined benefit obligation: Balance, end of year | 13,097 | 13,532 | 13,270 | ||
thereof, Reconciliation | |||||
Unfunded | 0 | 0 | |||
Funded | 13,097 | 13,532 | |||
Germany [Member] | Change in fair value of plan assets [Member] | |||||
Reconciliation in Movement of Liabilities and Assets, Impact on Balance Sheet [line items] | |||||
Change in fair value of plan assets: Balance, beginning of year | 12,658 | 11,915 | |||
Defined benefit cost recognized in Profit & Loss [Abstract] | |||||
Interest income | 76 | 111 | |||
Defined benefit cost recognized in Other Comprehensive Income [Abstract] | |||||
Return from plan assets less interest income | 243 | 777 | |||
Cash flow and other changes [Abstract] | |||||
Contributions by plan participants | 1 | 4 | |||
Contributions by the employer | 141 | 444 | |||
Benefits paid | (477) | [3] | (456) | [4] | |
Payments in respect to settlements | 0 | 0 | |||
Acquisitions/Divestitures, Cashflows and other changes | 0 | (137) | [6] | ||
Exchange rate changes | 0 | 0 | |||
Other, Cash Flow and Other Changes | 0 | 0 | |||
thereof, Reconciliation | |||||
Plan administration costs | 0 | 0 | |||
Change in fair value of plan assets: Balance, end of year | 12,642 | 12,658 | 11,915 | ||
Funded status, end of year | (455) | (874) | |||
Germany [Member] | Change in irrecoverable surplus (asset ceiling) [Member] | |||||
Reconciliation in Movement of Liabilities and Assets, Impact on Balance Sheet [line items] | |||||
Change in irrecoverable surplus (asset ceiling): Balance, beginning of year | 0 | ||||
Defined benefit cost recognized in Profit & Loss [Abstract] | |||||
Interest cost | 0 | 0 | |||
Defined benefit cost recognized in Other Comprehensive Income [Abstract] | |||||
Changes in irrecoverable surplus | 0 | 0 | |||
Cash flow and other changes [Abstract] | |||||
Exchange rate changes | 0 | 0 | |||
thereof, Reconciliation | |||||
Change in irrecoverable surplus (asset ceiling): Balance, end of year | 0 | 0 | |||
UK [Member] | Reconciliation in Movement of Liabilities and Assets, Impact on Balance Sheet, Grouping [Domain Member] | |||||
thereof, Reconciliation | |||||
Net asset (liability) recognized | 1,090 | 788 | 0 | ||
UK [Member] | Change in the present value of the defined benefit obligation [Member] | |||||
Reconciliation in Movement of Liabilities and Assets, Impact on Balance Sheet [line items] | |||||
Change in the present value of the defined benefit obligation: Balance, beginning of year | 4,917 | 4,687 | |||
Defined benefit cost recognized in Profit & Loss [Abstract] | |||||
Current service cost | 23 | 28 | |||
Interest cost | 63 | 85 | |||
Past service cost and gain or loss arising from settlements | (15) | 11 | |||
Defined benefit cost recognized in Other Comprehensive Income [Abstract] | |||||
Actuarial gain or loss arising from changes in financial assumptions | (220) | 600 | |||
Actuarial gain or loss arising from changes in demographic assumptions | (5) | (11) | |||
Actuarial gain or loss arising from experience | (16) | (68) | |||
Cash flow and other changes [Abstract] | |||||
Contributions by plan participants | 0 | 0 | |||
Benefits paid | (134) | (160) | |||
Payments in respect to settlements | 0 | 0 | |||
Acquisitions/Divestitures, Cashflows and other changes | 0 | 0 | |||
Exchange rate changes | 316 | (255) | |||
Other, Cash Flow and Other Changes | 0 | 0 | |||
Change in the present value of the defined benefit obligation: Balance, end of year | 4,929 | 4,917 | 4,687 | ||
thereof, Reconciliation | |||||
Unfunded | 14 | 15 | |||
Funded | 4,915 | 4,902 | |||
UK [Member] | Change in fair value of plan assets [Member] | |||||
Reconciliation in Movement of Liabilities and Assets, Impact on Balance Sheet [line items] | |||||
Change in fair value of plan assets: Balance, beginning of year | 5,705 | 5,615 | |||
Defined benefit cost recognized in Profit & Loss [Abstract] | |||||
Interest income | 74 | 101 | |||
Defined benefit cost recognized in Other Comprehensive Income [Abstract] | |||||
Return from plan assets less interest income | 5 | 456 | |||
Cash flow and other changes [Abstract] | |||||
Contributions by plan participants | 0 | 0 | |||
Contributions by the employer | 0 | 0 | |||
Benefits paid | (134) | [3] | (159) | [4] | |
Payments in respect to settlements | 0 | 0 | |||
Acquisitions/Divestitures, Cashflows and other changes | 0 | 0 | |||
Exchange rate changes | 374 | (303) | |||
Other, Cash Flow and Other Changes | 0 | 0 | |||
thereof, Reconciliation | |||||
Plan administration costs | (5) | (5) | |||
Change in fair value of plan assets: Balance, end of year | 6,019 | 5,705 | 5,615 | ||
Funded status, end of year | 1,090 | 788 | |||
UK [Member] | Change in irrecoverable surplus (asset ceiling) [Member] | |||||
Reconciliation in Movement of Liabilities and Assets, Impact on Balance Sheet [line items] | |||||
Change in irrecoverable surplus (asset ceiling): Balance, beginning of year | 0 | ||||
Defined benefit cost recognized in Profit & Loss [Abstract] | |||||
Interest cost | 0 | 0 | |||
Defined benefit cost recognized in Other Comprehensive Income [Abstract] | |||||
Changes in irrecoverable surplus | 0 | 0 | |||
Cash flow and other changes [Abstract] | |||||
Exchange rate changes | 0 | 0 | |||
thereof, Reconciliation | |||||
Change in irrecoverable surplus (asset ceiling): Balance, end of year | 0 | 0 | |||
US [Member] | Reconciliation in Movement of Liabilities and Assets, Impact on Balance Sheet, Grouping [Domain Member] | |||||
thereof, Reconciliation | |||||
Net asset (liability) recognized | (203) | (220) | 0 | ||
US [Member] | Change in the present value of the defined benefit obligation [Member] | |||||
Reconciliation in Movement of Liabilities and Assets, Impact on Balance Sheet [line items] | |||||
Change in the present value of the defined benefit obligation: Balance, beginning of year | 1,327 | 1,418 | |||
Defined benefit cost recognized in Profit & Loss [Abstract] | |||||
Current service cost | 10 | 12 | |||
Interest cost | 31 | 43 | |||
Past service cost and gain or loss arising from settlements | 0 | 0 | |||
Defined benefit cost recognized in Other Comprehensive Income [Abstract] | |||||
Actuarial gain or loss arising from changes in financial assumptions | (50) | 75 | |||
Actuarial gain or loss arising from changes in demographic assumptions | 3 | (9) | |||
Actuarial gain or loss arising from experience | 20 | 3 | |||
Cash flow and other changes [Abstract] | |||||
Contributions by plan participants | 0 | 0 | |||
Benefits paid | (87) | (96) | |||
Payments in respect to settlements | 0 | 0 | |||
Acquisitions/Divestitures, Cashflows and other changes | 0 | 0 | |||
Exchange rate changes | 97 | (119) | |||
Other, Cash Flow and Other Changes | 0 | 0 | |||
Change in the present value of the defined benefit obligation: Balance, end of year | 1,351 | 1,327 | 1,418 | ||
thereof, Reconciliation | |||||
Unfunded | 197 | 195 | |||
Funded | 1,154 | 1,132 | |||
US [Member] | Change in fair value of plan assets [Member] | |||||
Reconciliation in Movement of Liabilities and Assets, Impact on Balance Sheet [line items] | |||||
Change in fair value of plan assets: Balance, beginning of year | 1,107 | 1,143 | |||
Defined benefit cost recognized in Profit & Loss [Abstract] | |||||
Interest income | 26 | 34 | |||
Defined benefit cost recognized in Other Comprehensive Income [Abstract] | |||||
Return from plan assets less interest income | 7 | 60 | |||
Cash flow and other changes [Abstract] | |||||
Contributions by plan participants | 0 | 0 | |||
Contributions by the employer | 4 | 56 | |||
Benefits paid | (75) | [3] | (84) | [4] | |
Payments in respect to settlements | 0 | 0 | |||
Acquisitions/Divestitures, Cashflows and other changes | 0 | 0 | |||
Exchange rate changes | 82 | (99) | |||
Other, Cash Flow and Other Changes | 0 | 0 | |||
thereof, Reconciliation | |||||
Plan administration costs | (3) | (3) | |||
Change in fair value of plan assets: Balance, end of year | 1,148 | 1,107 | 1,143 | ||
Funded status, end of year | (203) | (220) | |||
US [Member] | Change in irrecoverable surplus (asset ceiling) [Member] | |||||
Reconciliation in Movement of Liabilities and Assets, Impact on Balance Sheet [line items] | |||||
Change in irrecoverable surplus (asset ceiling): Balance, beginning of year | 0 | ||||
Defined benefit cost recognized in Profit & Loss [Abstract] | |||||
Interest cost | 0 | 0 | |||
Defined benefit cost recognized in Other Comprehensive Income [Abstract] | |||||
Changes in irrecoverable surplus | 0 | 0 | |||
Cash flow and other changes [Abstract] | |||||
Exchange rate changes | 0 | 0 | |||
thereof, Reconciliation | |||||
Change in irrecoverable surplus (asset ceiling): Balance, end of year | 0 | 0 | |||
Other [Member] | Reconciliation in Movement of Liabilities and Assets, Impact on Balance Sheet, Grouping [Domain Member] | |||||
thereof, Reconciliation | |||||
Net asset (liability) recognized | (38) | (82) | (40) | ||
Other [Member] | Change in the present value of the defined benefit obligation [Member] | |||||
Reconciliation in Movement of Liabilities and Assets, Impact on Balance Sheet [line items] | |||||
Change in the present value of the defined benefit obligation: Balance, beginning of year | 1,031 | 1,043 | |||
Defined benefit cost recognized in Profit & Loss [Abstract] | |||||
Current service cost | 40 | 42 | |||
Interest cost | 16 | 18 | |||
Past service cost and gain or loss arising from settlements | (1) | 0 | |||
Defined benefit cost recognized in Other Comprehensive Income [Abstract] | |||||
Actuarial gain or loss arising from changes in financial assumptions | (21) | 39 | |||
Actuarial gain or loss arising from changes in demographic assumptions | (14) | 2 | |||
Actuarial gain or loss arising from experience | 1 | (14) | |||
Cash flow and other changes [Abstract] | |||||
Contributions by plan participants | 14 | 15 | |||
Benefits paid | (67) | (80) | |||
Payments in respect to settlements | 0 | 0 | |||
Acquisitions/Divestitures, Cashflows and other changes | 0 | 0 | |||
Exchange rate changes | 28 | (36) | |||
Other, Cash Flow and Other Changes | 0 | 2 | |||
Change in the present value of the defined benefit obligation: Balance, end of year | 1,027 | 1,031 | 1,043 | ||
thereof, Reconciliation | |||||
Unfunded | 90 | 105 | |||
Funded | 937 | 926 | |||
Other [Member] | Change in fair value of plan assets [Member] | |||||
Reconciliation in Movement of Liabilities and Assets, Impact on Balance Sheet [line items] | |||||
Change in fair value of plan assets: Balance, beginning of year | 987 | 982 | |||
Defined benefit cost recognized in Profit & Loss [Abstract] | |||||
Interest income | 14 | 17 | |||
Defined benefit cost recognized in Other Comprehensive Income [Abstract] | |||||
Return from plan assets less interest income | 46 | 42 | |||
Cash flow and other changes [Abstract] | |||||
Contributions by plan participants | 14 | 15 | |||
Contributions by the employer | 32 | 28 | |||
Benefits paid | (52) | [3] | (65) | [4] | |
Payments in respect to settlements | 0 | 0 | |||
Acquisitions/Divestitures, Cashflows and other changes | 0 | 0 | |||
Exchange rate changes | 39 | (31) | |||
Other, Cash Flow and Other Changes | 0 | 0 | |||
thereof, Reconciliation | |||||
Plan administration costs | (1) | (1) | |||
Change in fair value of plan assets: Balance, end of year | 1,079 | 987 | € 982 | ||
Funded status, end of year | 52 | (44) | |||
Other [Member] | Change in irrecoverable surplus (asset ceiling) [Member] | |||||
Reconciliation in Movement of Liabilities and Assets, Impact on Balance Sheet [line items] | |||||
Change in irrecoverable surplus (asset ceiling): Balance, beginning of year | (38) | ||||
Defined benefit cost recognized in Profit & Loss [Abstract] | |||||
Interest cost | 0 | 0 | |||
Defined benefit cost recognized in Other Comprehensive Income [Abstract] | |||||
Changes in irrecoverable surplus | (48) | 2 | |||
Cash flow and other changes [Abstract] | |||||
Exchange rate changes | (4) | 0 | |||
thereof, Reconciliation | |||||
Change in irrecoverable surplus (asset ceiling): Balance, end of year | € (90) | € (38) | |||
[1] | Thereof € 1,207 million € 813 million | ||||
[2] | Thereof € 877 million recognized in Other assets and € 1,265 million in Other liabilities | ||||
[3] | For funded plans only. | ||||
[4] | For funded plans only. | ||||
[5] | Contains a past service credit of € 48 million due to the introduction of a capital option for a specific plan sponsored by former Postbank | ||||
[6] | Postbank Systems AG |
Note 33 - Employee Benefits -_5
Note 33 - Employee Benefits - Plan Asset Allocation (Detail) - Plan Asset Allocation [Domain Member] - EUR (€) € in Millions | Dec. 31, 2021 | Dec. 31, 2020 | |||
Plan Asset Allocation [line items] | |||||
Cash and cash equivalents | € 1,385 | € 918 | |||
Equity instruments | [1] | 1,928 | 1,691 | ||
Investment-grade bonds | |||||
Government | 5,085 | 4,466 | [2] | ||
Non-government bonds | [2] | 7,995 | 8,823 | ||
Non-investment-grade bonds | |||||
Government | 140 | [2] | 120 | ||
Non-government bonds | 653 | 408 | |||
Structured products | 1,049 | 196 | |||
Insurance | 1,267 | 1,262 | |||
Alternatives | |||||
Real estate | 626 | 559 | |||
Commodities | 30 | 24 | |||
Private equity | 2 | 95 | |||
Other | [3] | 96 | 1,677 | ||
Derivatives (Market Value) [Abstract] | |||||
Interest rate | 571 | 57 | |||
Credit | 5 | 24 | |||
Inflation | (48) | (98) | |||
Foreign exchange | 7 | 27 | |||
Other | 107 | 208 | |||
Total fair value of plan assets | 20,888 | 20,457 | |||
Germany [Member] | |||||
Plan Asset Allocation [line items] | |||||
Cash and cash equivalents | 930 | 290 | |||
Equity instruments | [1] | 1,220 | 899 | ||
Investment-grade bonds | |||||
Government | 2,524 | 2,829 | [2] | ||
Non-government bonds | [2] | 5,386 | 6,144 | ||
Non-investment-grade bonds | |||||
Government | 137 | [2] | 99 | ||
Non-government bonds | 423 | 236 | |||
Structured products | 839 | 1 | |||
Insurance | 1 | 1 | |||
Alternatives | |||||
Real estate | 528 | 443 | |||
Commodities | 25 | 24 | |||
Private equity | 0 | 72 | |||
Other | [3] | 46 | 1,406 | ||
Derivatives (Market Value) [Abstract] | |||||
Interest rate | 518 | 78 | |||
Credit | 65 | 115 | |||
Inflation | 0 | 0 | |||
Foreign exchange | 1 | 20 | |||
Other | 1 | 1 | |||
Total fair value of plan assets | 12,642 | 12,658 | |||
UK [Member] | |||||
Plan Asset Allocation [line items] | |||||
Cash and cash equivalents | 321 | 504 | |||
Equity instruments | [1] | 348 | 609 | ||
Investment-grade bonds | |||||
Government | 1,918 | 1,048 | [2] | ||
Non-government bonds | [2] | 1,894 | 2,034 | ||
Non-investment-grade bonds | |||||
Government | 1 | [2] | 2 | ||
Non-government bonds | 142 | 107 | |||
Structured products | 124 | 122 | |||
Insurance | 1,256 | 1,248 | |||
Alternatives | |||||
Real estate | 0 | 37 | |||
Commodities | 0 | 0 | |||
Private equity | 0 | 0 | |||
Other | [3] | 0 | 0 | ||
Derivatives (Market Value) [Abstract] | |||||
Interest rate | 42 | 18 | |||
Credit | (87) | 107 | |||
Inflation | (62) | (109) | |||
Foreign exchange | 4 | 3 | |||
Other | 118 | 225 | |||
Total fair value of plan assets | 6,019 | 5,705 | |||
US [Member] | |||||
Plan Asset Allocation [line items] | |||||
Cash and cash equivalents | 56 | 67 | |||
Equity instruments | [1] | 151 | 126 | ||
Investment-grade bonds | |||||
Government | 436 | 422 | [2] | ||
Non-government bonds | [2] | 379 | 387 | ||
Non-investment-grade bonds | |||||
Government | 1 | [2] | 1 | ||
Non-government bonds | 33 | 37 | |||
Structured products | 79 | 73 | |||
Insurance | 0 | 0 | |||
Alternatives | |||||
Real estate | 0 | 0 | |||
Commodities | 0 | 0 | |||
Private equity | 0 | 0 | |||
Other | [3] | 0 | 0 | ||
Derivatives (Market Value) [Abstract] | |||||
Interest rate | 9 | 3 | |||
Credit | 16 | 15 | |||
Inflation | 0 | 0 | |||
Foreign exchange | 0 | 0 | |||
Other | (12) | (18) | |||
Total fair value of plan assets | 1,148 | 1,107 | |||
Other countries [Member] | |||||
Plan Asset Allocation [line items] | |||||
Cash and cash equivalents | 78 | 57 | |||
Equity instruments | [1] | 209 | 57 | ||
Investment-grade bonds | |||||
Government | 207 | 167 | [2] | ||
Non-government bonds | [2] | 336 | 258 | ||
Non-investment-grade bonds | |||||
Government | 1 | [2] | 18 | ||
Non-government bonds | 55 | 28 | |||
Structured products | 7 | 0 | |||
Insurance | 10 | 13 | |||
Alternatives | |||||
Real estate | 98 | 79 | |||
Commodities | 5 | 0 | |||
Private equity | 2 | 23 | |||
Other | [3] | 50 | 271 | ||
Derivatives (Market Value) [Abstract] | |||||
Interest rate | 2 | 0 | |||
Credit | 1 | 1 | |||
Inflation | 14 | 11 | |||
Foreign exchange | 4 | 4 | |||
Other | 0 | 0 | |||
Total fair value of plan assets | € 1,079 | € 987 | |||
[1] | Allocation of equity exposure is broadly in line with the typical index in the respective market, e.g. the equity portfolio’s benchmark of the UK retirement benefit plans is the MSCI All Countries World Index. | ||||
[2] | Investment-grade means BBB and above. Average credit rating exposure for the Group’s main plans is around A. | ||||
[3] | This position contains commingled funds which could not be segregated into the other asset categories |
Note 33 - Employee Benefits -_6
Note 33 - Employee Benefits - Plan Asset Allocation Level 1 (Detail) - Level 1 of Fair Value Hierarchy [Member] - EUR (€) € in Millions | Dec. 31, 2021 | Dec. 31, 2020 | |
Plan Asset Allocation [line items] | |||
Cash and cash equivalents | € 1,155 | € 819 | |
Equity instruments | [1] | 1,535 | 1,540 |
Investment-grade bonds | |||
Government | [2] | 3,312 | 2,569 |
Non-government bonds | [2] | 0 | 0 |
Non-investment-grade bonds | |||
Government | 0 | 5 | |
Non-government bonds | 0 | 0 | |
Structured products | 118 | 0 | |
Insurance | 0 | 0 | |
Alternatives | |||
Real estate | 0 | 0 | |
Commodities | 0 | 0 | |
Private equity | 0 | 0 | |
Other | 0 | 0 | |
Derivatives (Market Value) [Abstract] | |||
Interest rate | (16) | (14) | |
Credit | 1 | (107) | |
Inflation | 14 | 11 | |
Foreign exchange | 2 | 4 | |
Other | 1 | 1 | |
Total fair value of quoted plan assets | 6,122 | 4,828 | |
Germany [Member] | |||
Plan Asset Allocation [line items] | |||
Cash and cash equivalents | 756 | 226 | |
Equity instruments | [1] | 983 | 760 |
Investment-grade bonds | |||
Government | [2] | 902 | 1,107 |
Non-government bonds | [2] | 0 | 0 |
Non-investment-grade bonds | |||
Government | 0 | 0 | |
Non-government bonds | 0 | 0 | |
Structured products | 0 | 0 | |
Insurance | 0 | 0 | |
Alternatives | |||
Real estate | 0 | 0 | |
Commodities | 0 | 0 | |
Private equity | 0 | 0 | |
Other | 0 | 0 | |
Derivatives (Market Value) [Abstract] | |||
Interest rate | 0 | 0 | |
Credit | 0 | 0 | |
Inflation | 0 | 0 | |
Foreign exchange | 0 | 0 | |
Other | 1 | 1 | |
Total fair value of quoted plan assets | 2,642 | 2,094 | |
UK [Member] | |||
Plan Asset Allocation [line items] | |||
Cash and cash equivalents | 317 | 504 | |
Equity instruments | [1] | 348 | 609 |
Investment-grade bonds | |||
Government | [2] | 1,902 | 989 |
Non-government bonds | [2] | 0 | 0 |
Non-investment-grade bonds | |||
Government | 0 | 0 | |
Non-government bonds | 0 | 0 | |
Structured products | 118 | 0 | |
Insurance | 0 | 0 | |
Alternatives | |||
Real estate | 0 | 0 | |
Commodities | 0 | 0 | |
Private equity | 0 | 0 | |
Other | 0 | 0 | |
Derivatives (Market Value) [Abstract] | |||
Interest rate | 0 | 1 | |
Credit | 1 | (107) | |
Inflation | 0 | 0 | |
Foreign exchange | 2 | 4 | |
Other | 0 | 0 | |
Total fair value of quoted plan assets | 2,688 | 2,000 | |
US [Member] | |||
Plan Asset Allocation [line items] | |||
Cash and cash equivalents | 48 | 63 | |
Equity instruments | [1] | 151 | 126 |
Investment-grade bonds | |||
Government | [2] | 431 | 417 |
Non-government bonds | [2] | 0 | 0 |
Non-investment-grade bonds | |||
Government | 0 | 0 | |
Non-government bonds | 0 | 0 | |
Structured products | 0 | 0 | |
Insurance | 0 | 0 | |
Alternatives | |||
Real estate | 0 | 0 | |
Commodities | 0 | 0 | |
Private equity | 0 | 0 | |
Other | 0 | 0 | |
Derivatives (Market Value) [Abstract] | |||
Interest rate | (16) | (15) | |
Credit | 0 | 0 | |
Inflation | 0 | 0 | |
Foreign exchange | 0 | 0 | |
Other | 0 | 0 | |
Total fair value of quoted plan assets | 614 | 591 | |
Other countries [Member] | |||
Plan Asset Allocation [line items] | |||
Cash and cash equivalents | 34 | 26 | |
Equity instruments | [1] | 53 | 45 |
Investment-grade bonds | |||
Government | [2] | 77 | 56 |
Non-government bonds | [2] | 0 | 0 |
Non-investment-grade bonds | |||
Government | 0 | 5 | |
Non-government bonds | 0 | 0 | |
Structured products | 0 | 0 | |
Insurance | 0 | 0 | |
Alternatives | |||
Real estate | 0 | 0 | |
Commodities | 0 | 0 | |
Private equity | 0 | 0 | |
Other | 0 | 0 | |
Derivatives (Market Value) [Abstract] | |||
Interest rate | 0 | 0 | |
Credit | 0 | 0 | |
Inflation | 14 | 11 | |
Foreign exchange | 0 | 0 | |
Other | 0 | 0 | |
Total fair value of quoted plan assets | € 178 | € 143 | |
[1] | Allocation of equity exposure is broadly in line with the typical index in the respective market, e.g. the equity portfolio’s benchmark of the UK retirement benefit plans is the MSCI All Countries World Index | ||
[2] | Investment-grade means BBB and above. Average credit rating exposure for the Group’s main plans is around A |
Note 33 - Employee Benefits -_7
Note 33 - Employee Benefits - Regional Asset Break Down (Detail) - Regional Asset Break Down [Domain Member] - EUR (€) € in Millions | Dec. 31, 2021 | Dec. 31, 2020 |
Regional Asset Break Down [line items] | ||
Cash and cash equivalents | € 1,386 | € 918 |
Equity instruments | 1,928 | 1,691 |
Government bonds (investment-grade and above) | 5,085 | 4,466 |
Government bonds (non-investment-grade) | 140 | 120 |
Non-government bonds (investment-grade and above) | 7,995 | 8,823 |
Non-government bonds (non-investment-grade) | 653 | 407 |
Structured products, Regional Asset Break Down | 1,049 | 196 |
Subtotal | € 18,236 | € 16,621 |
Share (in %) | 100.00% | 100.00% |
Regional Asset Break Down, Other | € 2,652 | € 3,836 |
Fair value of plan assets | 20,888 | 20,457 |
Germany [Member] | ||
Regional Asset Break Down [line items] | ||
Cash and cash equivalents | 3 | (7) |
Equity instruments | 36 | 209 |
Government bonds (investment-grade and above) | 860 | 1,018 |
Government bonds (non-investment-grade) | 0 | 2 |
Non-government bonds (investment-grade and above) | 500 | 639 |
Non-government bonds (non-investment-grade) | 46 | 1 |
Structured products, Regional Asset Break Down | 23 | 1 |
Subtotal | € 1,468 | € 1,863 |
Share (in %) | 8.00% | 11.00% |
UK [Member] | ||
Regional Asset Break Down [line items] | ||
Cash and cash equivalents | € 174 | € 396 |
Equity instruments | 61 | 70 |
Government bonds (investment-grade and above) | 1,799 | 979 |
Government bonds (non-investment-grade) | 0 | 0 |
Non-government bonds (investment-grade and above) | 1,546 | 1,601 |
Non-government bonds (non-investment-grade) | 61 | 52 |
Structured products, Regional Asset Break Down | 97 | 99 |
Subtotal | € 3,738 | € 3,197 |
Share (in %) | 20.00% | 19.00% |
US [Member] | ||
Regional Asset Break Down [line items] | ||
Cash and cash equivalents | € 88 | € 170 |
Equity instruments | 1,182 | 703 |
Government bonds (investment-grade and above) | 500 | 470 |
Government bonds (non-investment-grade) | 0 | 0 |
Non-government bonds (investment-grade and above) | 2,437 | 2,685 |
Non-government bonds (non-investment-grade) | 92 | 46 |
Structured products, Regional Asset Break Down | 86 | 82 |
Subtotal | € 4,385 | € 4,156 |
Share (in %) | 24.00% | 25.00% |
Other Eurozone [Member] | ||
Regional Asset Break Down [line items] | ||
Cash and cash equivalents | € 1,039 | € 308 |
Equity instruments | 304 | 270 |
Government bonds (investment-grade and above) | 1,153 | 1,150 |
Government bonds (non-investment-grade) | 4 | 7 |
Non-government bonds (investment-grade and above) | 2,873 | 3,265 |
Non-government bonds (non-investment-grade) | 438 | 292 |
Structured products, Regional Asset Break Down | 31 | 12 |
Subtotal | € 5,842 | € 5,304 |
Share (in %) | 32.00% | 32.00% |
Other developed countries [Member] | ||
Regional Asset Break Down [line items] | ||
Cash and cash equivalents | € 45 | € 20 |
Equity instruments | 258 | 336 |
Government bonds (investment-grade and above) | 222 | 292 |
Government bonds (non-investment-grade) | 2 | 11 |
Non-government bonds (investment-grade and above) | 539 | 554 |
Non-government bonds (non-investment-grade) | 9 | 8 |
Structured products, Regional Asset Break Down | 809 | 0 |
Subtotal | € 1,884 | € 1,221 |
Share (in %) | 10.00% | 7.00% |
Emerging markets [Member] | ||
Regional Asset Break Down [line items] | ||
Cash and cash equivalents | € 37 | € 31 |
Equity instruments | 87 | 103 |
Government bonds (investment-grade and above) | 551 | 557 |
Government bonds (non-investment-grade) | 134 | 100 |
Non-government bonds (investment-grade and above) | 100 | 79 |
Non-government bonds (non-investment-grade) | 7 | 8 |
Structured products, Regional Asset Break Down | 3 | 2 |
Subtotal | € 919 | € 880 |
Share (in %) | 5.00% | 5.00% |
Note 33 - Employee Benefits - S
Note 33 - Employee Benefits - Sensitivity Analysis on Funded Status (Detail) - EUR (€) € in Millions | Dec. 31, 2021 | Dec. 31, 2020 | |
Germany [Member] | Discount rate (-50 bp) [Member] | |||
Sensitivity Analysis on Funded Status [line items] | |||
(Increase) in DBO | € (915) | € (970) | |
Expected increase in plan assets | [1] | 595 | 895 |
Expected net impact on funded status (de-) increase | (320) | (75) | |
Germany [Member] | Discount rate (+50 bp) [Member] | |||
Sensitivity Analysis on Funded Status [line items] | |||
Decrease in DBO | 855 | 900 | |
Expected (decrease) in plan assets | [1] | (595) | (895) |
Expected net impact on funded status (de-) increase | 260 | 5 | |
Germany [Member] | Credit spread (-50 bp) [Member] | |||
Sensitivity Analysis on Funded Status [line items] | |||
(Increase) in DBO | (915) | (970) | |
Expected increase in plan assets | [1] | 595 | 760 |
Expected net impact on funded status (de-) increase | (320) | (210) | |
Germany [Member] | Credit spread (+50 bp) [Member] | |||
Sensitivity Analysis on Funded Status [line items] | |||
Decrease in DBO | 855 | 900 | |
Expected (decrease) in plan assets | [1] | (595) | (760) |
Expected net impact on funded status (de-) increase | 260 | 140 | |
Germany [Member] | Rate of price inflation (-50 bp) [Member] | |||
Sensitivity Analysis on Funded Status [line items] | |||
Decrease in DBO | [2] | 370 | 320 |
Expected (decrease) in plan assets | [1],[2] | (290) | (235) |
Expected net impact on funded status (de-) increase | 80 | 85 | |
Germany [Member] | Rate of price inflation (+50 bp) [Member] | |||
Sensitivity Analysis on Funded Status [line items] | |||
(Increase) in DBO | [2] | (385) | (330) |
Expected increase in plan assets | [1],[2] | 290 | 235 |
Expected net impact on funded status (de-) increase | (95) | (95) | |
Germany [Member] | Rate of real increase in future compensation levels (-50 bp) [Member] | |||
Sensitivity Analysis on Funded Status [line items] | |||
Decrease in DBO, net impact on funded status | 55 | 60 | |
Germany [Member] | Rate of real increase in future compensation levels (+50 bp) [Member] | |||
Sensitivity Analysis on Funded Status [line items] | |||
(Increase) in DBO, net impact on funded status | (55) | (60) | |
Germany [Member] | Longevity improvements by 10 percent [Member] | |||
Sensitivity Analysis on Funded Status [line items] | |||
(Increase) in DBO, net impact on funded status | [3] | (335) | (325) |
UK [Member] | Discount rate (-50 bp) [Member] | |||
Sensitivity Analysis on Funded Status [line items] | |||
(Increase) in DBO | (520) | (520) | |
Expected increase in plan assets | [1] | 350 | 400 |
Expected net impact on funded status (de-) increase | (170) | (120) | |
UK [Member] | Discount rate (+50 bp) [Member] | |||
Sensitivity Analysis on Funded Status [line items] | |||
Decrease in DBO | 470 | 470 | |
Expected (decrease) in plan assets | [1] | (350) | (400) |
Expected net impact on funded status (de-) increase | 120 | 70 | |
UK [Member] | Credit spread (-50 bp) [Member] | |||
Sensitivity Analysis on Funded Status [line items] | |||
(Increase) in DBO | (520) | (520) | |
Expected increase in plan assets | [1] | 125 | 120 |
Expected net impact on funded status (de-) increase | (395) | (400) | |
UK [Member] | Credit spread (+50 bp) [Member] | |||
Sensitivity Analysis on Funded Status [line items] | |||
Decrease in DBO | 470 | 470 | |
Expected (decrease) in plan assets | [1] | (125) | (120) |
Expected net impact on funded status (de-) increase | 345 | 350 | |
UK [Member] | Rate of price inflation (-50 bp) [Member] | |||
Sensitivity Analysis on Funded Status [line items] | |||
Decrease in DBO | [2] | 365 | 390 |
Expected (decrease) in plan assets | [1],[2] | (270) | (255) |
Expected net impact on funded status (de-) increase | 95 | 135 | |
UK [Member] | Rate of price inflation (+50 bp) [Member] | |||
Sensitivity Analysis on Funded Status [line items] | |||
(Increase) in DBO | [2] | (365) | (425) |
Expected increase in plan assets | [1],[2] | 270 | 255 |
Expected net impact on funded status (de-) increase | (95) | (170) | |
UK [Member] | Rate of real increase in future compensation levels (-50 bp) [Member] | |||
Sensitivity Analysis on Funded Status [line items] | |||
Decrease in DBO, net impact on funded status | 5 | 10 | |
UK [Member] | Rate of real increase in future compensation levels (+50 bp) [Member] | |||
Sensitivity Analysis on Funded Status [line items] | |||
(Increase) in DBO, net impact on funded status | (5) | (10) | |
UK [Member] | Longevity improvements by 10 percent [Member] | |||
Sensitivity Analysis on Funded Status [line items] | |||
(Increase) in DBO, net impact on funded status | [3],[4] | (160) | (160) |
US [Member] | Discount rate (-50 bp) [Member] | |||
Sensitivity Analysis on Funded Status [line items] | |||
(Increase) in DBO | (40) | (45) | |
Expected increase in plan assets | [1] | 35 | 35 |
Expected net impact on funded status (de-) increase | (5) | (10) | |
US [Member] | Discount rate (+50 bp) [Member] | |||
Sensitivity Analysis on Funded Status [line items] | |||
Decrease in DBO | 40 | 40 | |
Expected (decrease) in plan assets | [1] | (35) | (35) |
Expected net impact on funded status (de-) increase | 5 | 5 | |
US [Member] | Credit spread (-50 bp) [Member] | |||
Sensitivity Analysis on Funded Status [line items] | |||
(Increase) in DBO | (75) | (75) | |
Expected increase in plan assets | [1] | 15 | 15 |
Expected net impact on funded status (de-) increase | (60) | (60) | |
US [Member] | Credit spread (+50 bp) [Member] | |||
Sensitivity Analysis on Funded Status [line items] | |||
Decrease in DBO | 70 | 70 | |
Expected (decrease) in plan assets | [1] | (15) | (15) |
Expected net impact on funded status (de-) increase | 55 | 55 | |
US [Member] | Rate of price inflation (-50 bp) [Member] | |||
Sensitivity Analysis on Funded Status [line items] | |||
Decrease in DBO | [2] | 0 | 0 |
Expected (decrease) in plan assets | [1],[2] | 0 | 0 |
Expected net impact on funded status (de-) increase | 0 | 0 | |
US [Member] | Rate of price inflation (+50 bp) [Member] | |||
Sensitivity Analysis on Funded Status [line items] | |||
(Increase) in DBO | [2] | 0 | 0 |
Expected increase in plan assets | [1],[2] | 0 | 0 |
Expected net impact on funded status (de-) increase | 0 | 0 | |
US [Member] | Rate of real increase in future compensation levels (-50 bp) [Member] | |||
Sensitivity Analysis on Funded Status [line items] | |||
Decrease in DBO, net impact on funded status | 0 | 0 | |
US [Member] | Rate of real increase in future compensation levels (+50 bp) [Member] | |||
Sensitivity Analysis on Funded Status [line items] | |||
(Increase) in DBO, net impact on funded status | 0 | 0 | |
US [Member] | Longevity improvements by 10 percent [Member] | |||
Sensitivity Analysis on Funded Status [line items] | |||
(Increase) in DBO, net impact on funded status | [3] | (30) | (30) |
Other [Member] | Discount rate (-50 bp) [Member] | |||
Sensitivity Analysis on Funded Status [line items] | |||
(Increase) in DBO | (60) | (60) | |
Expected increase in plan assets | [1] | 20 | 25 |
Expected net impact on funded status (de-) increase | (40) | (35) | |
Other [Member] | Discount rate (+50 bp) [Member] | |||
Sensitivity Analysis on Funded Status [line items] | |||
Decrease in DBO | 55 | 55 | |
Expected (decrease) in plan assets | [1] | (20) | (25) |
Expected net impact on funded status (de-) increase | 35 | 30 | |
Other [Member] | Credit spread (-50 bp) [Member] | |||
Sensitivity Analysis on Funded Status [line items] | |||
(Increase) in DBO | (60) | (65) | |
Expected increase in plan assets | [1] | 10 | 10 |
Expected net impact on funded status (de-) increase | (50) | (55) | |
Other [Member] | Credit spread (+50 bp) [Member] | |||
Sensitivity Analysis on Funded Status [line items] | |||
Decrease in DBO | 55 | 60 | |
Expected (decrease) in plan assets | [1] | (10) | (10) |
Expected net impact on funded status (de-) increase | 45 | 50 | |
Other [Member] | Rate of price inflation (-50 bp) [Member] | |||
Sensitivity Analysis on Funded Status [line items] | |||
Decrease in DBO | [2] | 20 | 20 |
Expected (decrease) in plan assets | [1],[2] | (10) | (10) |
Expected net impact on funded status (de-) increase | 10 | 10 | |
Other [Member] | Rate of price inflation (+50 bp) [Member] | |||
Sensitivity Analysis on Funded Status [line items] | |||
(Increase) in DBO | [2] | (25) | (20) |
Expected increase in plan assets | [1],[2] | 10 | 10 |
Expected net impact on funded status (de-) increase | (15) | (10) | |
Other [Member] | Rate of real increase in future compensation levels (-50 bp) [Member] | |||
Sensitivity Analysis on Funded Status [line items] | |||
Decrease in DBO, net impact on funded status | 15 | 15 | |
Other [Member] | Rate of real increase in future compensation levels (+50 bp) [Member] | |||
Sensitivity Analysis on Funded Status [line items] | |||
(Increase) in DBO, net impact on funded status | (15) | (15) | |
Other [Member] | Longevity improvements by 10 percent [Member] | |||
Sensitivity Analysis on Funded Status [line items] | |||
(Increase) in DBO, net impact on funded status | [3] | € (15) | € (15) |
[1] | Expected changes in the fair value of plan assets contain the simulated impact from the biggest plans in Germany, the UK, the U.S., Channel Islands, Switzerland and Belgium which cover over 99 % of the total fair value of plan assets. The fair value of plan assets for other plans is assumed to be unchanged for this presentation. | ||
[2] | Incorporates sensitivity to changes in pension benefits to the extent linked to the price inflation assumption. | ||
[3] | Estimated to be equivalent to an increase of around 1 year in overall life expectancy. | ||
[4] | Due to buy-in transaction the net impact on funded status reduces by € 45 million |
Note 33 - Employee Benefits - E
Note 33 - Employee Benefits - Expected Cash Flows (Detail) - Total [Member] € in Millions | 12 Months Ended |
Dec. 31, 2022EUR (€) | |
Expected contributions to | |
Defined benefit plan assets | € 220 |
BVV | 60 |
Other defined contribution plans, Expected Cash Flows | 245 |
Expected benefit payments for unfunded defined benefit plans, Expected Cash Flows | 25 |
Expected cash flow related to post-employment benefits, Expected Cash Flows | € 550 |
Note 33 - Employee Benefits -_8
Note 33 - Employee Benefits - Expenses for Defined Benefit Plans (Impact on Expense) (Detail) - EUR (€) € in Millions | 12 Months Ended | |||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | ||
Expenses for defined benefit plans: | ||||
Service cost | [1] | € 234 | € 246 | € 272 |
Net interest cost (income) | 0 | 5 | 2 | |
Total expenses defined benefit plans | 234 | 251 | 274 | |
Expenses for defined contribution plans: | ||||
BVV | 58 | 60 | 63 | |
Other defined contribution plans | 244 | 243 | 244 | |
Total expenses for defined contribution plans | 302 | 303 | 307 | |
Total expenses for post-employment benefit plans | 536 | 554 | 581 | |
Employer contributions to state-mandated benefit plans [abstract] | ||||
Pensions related payments social security in Germany | 221 | 233 | 231 | |
Contributions to pension fund for Postbanks postal civil servants | 66 | 79 | 85 | |
Further pension related state-mandated benefit plans | 217 | 245 | 249 | |
Total employer contributions to state-mandated benefit plans | 504 | 557 | 565 | |
Expenses for share-based payments: | ||||
Expenses for share-based payments, equity settled | [2] | 455 | 318 | 549 |
Expenses for share-based payments, cash settled | [2] | 35 | 49 | 39 |
Expenses for cash retention plans | [2] | 398 | 329 | 516 |
Expenses for severance payments | [3] | € 184 | € 184 | € 92 |
[1] | Severance related items under Service Costs are reclassified to Expenses for Severance payments. | |||
[2] | Including expenses for new hire awards and the acceleration of expenses not yet amortized due to the discontinuation of employment including those amounts which are recognized as part of the Group’s restructuring expenses | |||
[3] | Excluding the acceleration of expenses for deferred compensation awards not yet amortized . |
Note 33 - Employee Benefits -_9
Note 33 - Employee Benefits - Additional Parenthetical Information (Detail: Text Values) | Dec. 31, 2021EUR (€)shares | Dec. 31, 2020EUR (€)shares |
Additional Parenthtical Information [Abstract] | ||
Liability raised due to share-based payment transactions in cash | € 8,000,000 | € 8,000,000 |
Grant volume of outstanding share awards | 900,000,000 | 900,000,000 |
Of which: [Abstract] | ||
Recognized as compensation expense | 700,000,000 | 700,000,000 |
Not yet recognized | € 200,000,000 | € 200,000,000 |
DWS Share based Plans [Abstract] | ||
Fair value of DWS share-based awards (approximately) | shares | 83,000,000 | 85,000,000 |
of which: recognized in the income statement | shares | 69,000,000 | 61,000,000 |
of which: relate to fully vested awards (approximately) | shares | 29,000,000 | 21,000,000 |
of which: related to total unrecognized share-based plans (approximately) | shares | 14,000,000 | 25,000,000 |
Unfunded US Medicare Plan included in US Total defined benefit obligation | € 170,000,000 | € 168,000,000 |
US defined benefit pension funding ratio excluding Medicare in Percent | 97.00% | 96.00% |
Total defined benefit obligation for post-employment medical plans | € 201,000,000 | € 202,000,000 |
Change in discount rate methodology and other effects [Abstract] | ||
Actuarial gain from methodology change recognized in Other Comprehensive Income | 45,000,000 | |
Past service credit due to the introduction of a capital option for a specific plan sponsored by former Postbank included in Past service cost and gain or loss arising from settlements in Germany | 48,000,000 | |
Other assets recognized in Net asset (liability) recognized | 1,207,000,000 | |
Other liabilities recognized in Net asset (liability) recognized | 813,000,000 | |
Derivative transactions with Group entities with positive market value included in plan assets | € 553,000,000 | € 210,000,000 |
Global Share Purchase Plan [Abstract] | ||
Total staff enrolled in the twelfth cycle | 11,838,000,000 | |
Total countries enrolled in the twelfth cycle | 18,000,000 |
Note 34 - Income Taxes - Compon
Note 34 - Income Taxes - Components of Income Tax Expense (Benefit) (Detail) - EUR (€) € in Millions | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Current tax expense (benefit): | |||
Tax expense (benefit) for current year | € 847 | € 739 | € 757 |
Adjustments for prior years | 14 | (46) | 5 |
Total current tax expense (benefit) | 861 | 693 | 762 |
Deferred tax expense (benefit): | |||
Origination and reversal of temporary difference, unused tax losses and tax credits | 108 | (224) | (71) |
Effect of changes in tax law and/or tax rate | (26) | (11) | (9) |
Adjustments for prior years | (20) | (67) | 1,948 |
Total deferred tax expense (benefit) | 62 | (302) | 1,868 |
Total income tax expense (benefit) | € 923 | € 391 | € 2,630 |
Note 34 - Income Taxes - Comp_2
Note 34 - Income Taxes - Components of Income Tax Expense (Benefit) (Detail: Text Values) - EUR (€) € in Millions | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Components of Income Tax Expense (Benefit) | |||
Reduction/(increase) of total deferred tax benefit due to previously unrecognized tax losses (tax credits/deductible tem-porary differences) and the reversal of previous write-downs of deferred tax assets and expenses arising from write-downs of deferred tax assets | € 242 | € 96 | € 2,785 |
Domestic income tax rate used for calculating deferred tax assets and liabilities | 31.30% | ||
From DB Group recognized deferred tax assets for entities which suffer a loss | € 5,400 | 5,100 | |
Temporary differences associated with the Group's parent company's investments in subsidiaries, branches and associates and interests in joint ventures of which no deferred tax liabilities were recognized | € 242 | € 254 |
Note 34 - Income Taxes - Analys
Note 34 - Income Taxes - Analysis of the Difference between the Amount (Expected Tax Expense at Domestic Income Tax Rate vs. Actual Income Tax Expense) (Detail) - EUR (€) € in Millions | 12 Months Ended | |||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | ||
Analysis of the Difference between the Amount (Expected Tax Expense at Domestic Income Tax Rate vs. Actual Income Tax Expense) | ||||
Expected tax expense (benefit) at domestic income tax rate of 31.3 % (31.3 % for 2017 and 2016) | € 1,101 | € 314 | € (825) | |
Foreign rate differential | (89) | (39) | 170 | |
Tax-exempt gains on securities and other income | (183) | (181) | (191) | |
Loss (income) on equity method investments | (11) | (18) | (19) | |
Nondeductible expenses | 287 | 293 | 326 | |
Impairments of goodwill | 1 | 0 | 269 | |
Changes in recognition and measurement of deferred tax assets | [1] | (227) | 96 | 2,785 |
Effect of changes in tax law and/or tax rate | (26) | (11) | (9) | |
Effect related to share-based payments | 1 | (29) | 54 | |
Other | [1] | 69 | (34) | 70 |
Actual income tax expense (benefit) | € 923 | € 391 | € 2,630 | |
[1] | Current and deferred tax expense/(benefit) relating to prior years are mainly reflected in the line items “Changes in recognition and measurement of deferred tax assets” and “Other”. |
Note 34 - Income Taxes - Income
Note 34 - Income Taxes - Income Tax Charged or Credited to Equity (Detail) - EUR (€) € in Millions | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Income Tax Charged or Credited to Equity | |||
Actuarial gains/losses related to defined benefit plans | € (207) | € 76 | € 402 |
Net fair value gains (losses) attributable to credit risk related to financial liabilities designated as at fair value through profit or loss | 5 | 6 | 1 |
Financial assets mandatory at fair value through other comprehensive income: | |||
Unrealized net gains/losses arising during the period | 111 | (204) | (42) |
Realized net gains/losses arising during the period (reclassified to profit or loss) | 68 | 84 | 71 |
Derivatives hedging variability of cash flows: | |||
Unrealized net gains/losses arising during the period | (2) | 4 | 1 |
Net gains/losses reclassified to profit or loss | 15 | (1) | 1 |
Other equity movement: | |||
Unrealized net gains/losses arising during the period | 88 | (19) | 162 |
Net gains/losses reclassified to profit or loss | 6 | 14 | 0 |
Income taxes (charged) credited to other comprehensive income | 84 | (40) | 596 |
Other income taxes (charged) credited to equity | € 45 | € 11 | € (11) |
Note 34 - Income Taxes - Major
Note 34 - Income Taxes - Major Components of Gross Deferred Income Tax Assets and Liabilities (Detail) - EUR (€) € in Millions | Dec. 31, 2021 | Dec. 31, 2020 |
Deferred tax assets pre-offsetting [Member] | Other deferred tax assets [Member] | ||
Major components of gross deferred tax assets and liabilities [Line Items] | ||
Unused tax losses | € 1,653 | € 1,476 |
Unused tax credits | 2 | 0 |
Deferred tax assets pre-offsetting [Member] | Deductable temporary differences [Member] | ||
Major components of gross deferred tax assets and liabilities [Line Items] | ||
Trading activities, including derivatives | 1,869 | 2,905 |
Employee benefits, including equity settled share based payments | 2,533 | 2,457 |
Accrued interest expense | 1,428 | 1,122 |
Loans and borrowings, including allowance for loans | 892 | 1,069 |
Leases | 857 | 806 |
Intangible assets | 52 | 214 |
Fair value OCI (IFRS 9) | 53 | 1 |
Other assets | 515 | 560 |
Other provisions | 110 | 122 |
Other liabilities | 10 | 4 |
Deferred tax assets pre-offsetting [Member] | NA [Member] | ||
Major components of gross deferred tax assets and liabilities [Line Items] | ||
Total deferred tax assets/ liabilities pre offsetting | 9,974 | 10,736 |
Deferred tax liabilities pre-offsetting [Member] | Taxable temporary differences [Member] | ||
Major components of gross deferred tax assets and liabilities [Line Items] | ||
Trading activities, including derivatives | 1,770 | 2,658 |
Employee benefits, including equity settled share based payments | 296 | 183 |
Loans and borrowings, including allowance for loans | 538 | 501 |
Leases | 774 | 712 |
Intangible assets | 501 | 560 |
Fair value OCI (IFRS 9) | 76 | 144 |
Other assets | 214 | 350 |
Other provisions | 82 | 79 |
Other liabilities | 41 | 47 |
Deferred tax liabilities pre-offsetting [Member] | NA [Member] | ||
Major components of gross deferred tax assets and liabilities [Line Items] | ||
Total deferred tax assets/ liabilities pre offsetting | € 4,292 | € 5,234 |
Note 34 - Income Taxes - After
Note 34 - Income Taxes - After Offsetting, Deferred Tax Assets and Liabilities (Detail) - EUR (€) € in Millions | Dec. 31, 2021 | Dec. 31, 2020 |
After Offsetting, Deferred Tax Assets and Liabilities | ||
Presented as deferred tax assets | € 6,180 | € 6,063 |
Presented as deferred tax liabilities | 498 | 561 |
Net deferred tax assets | € 5,682 | € 5,502 |
Note 34 - Income Taxes - Items
Note 34 - Income Taxes - Items where no Deferred Tax Assets were recognized (Detail) - EUR (€) € in Millions | Dec. 31, 2021 | Dec. 31, 2020 | |
Items where no Deferred Tax Assets were recognized | |||
Deductible temporary differences | [1] | € (988) | € (2,204) |
Not expiring | [1] | (10,331) | (9,982) |
Expiring in subsequent period | [1] | 0 | (138) |
Expiring after subsequent period | [1] | (5,811) | (4,702) |
Unused tax losses | [1] | (16,142) | (14,822) |
Expiring after subsequent period | [1] | (20) | (56) |
Unused tax credits | [1] | € (21) | € (58) |
[1] | Amounts in the table refer to deductible temporary differences, unused tax losses and tax credits for federal income tax purposes. |
Note 35 - Derivatives - Hedging
Note 35 - Derivatives - Hedging Derivatives (Detail) - Hedging Derivatives Notional [Member] - EUR (€) € in Millions | Dec. 31, 2021 | Dec. 31, 2020 |
Hedging Derivatives - Rates [Line Items] | ||
Hedging Derivatives - CHF IBOR | € 0 | € 493 |
Hedging Derivatives - GBP IBOR | 0 | 2,073 |
Hedging Derivatives - JPY IBOR | 0 | 1,383 |
Hedging Derivatives - USD IBOR | € 20,298 | € 20,877 |
Note 35 - Derivatives - Value o
Note 35 - Derivatives - Value of Derivatives held as Fair Value Hedges (Detail) - Derivatives held as Fair Value Hedges [Member] - EUR (€) € in Millions | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Value of Derivatives held as Fair Value Hedges [line items] | ||
Assets | € 3,713 | € 5,845 |
Liabilities | 1,000 | 1,362 |
Nominal amount | 78,176 | 87,937 |
Fair value changes used for hedge effectiveness | (1,454) | 882 |
Hedge ineffectiveness | € 139 | € (175) |
Note 35 - Derivatives - Fair Va
Note 35 - Derivatives - Fair Value Hedges (Detail) - EUR (€) € in Millions | Dec. 31, 2021 | Dec. 31, 2020 |
Carrying amount of Financial instruments designated as fair value hedges [Member] | Assets [Member] | ||
Fair Value Hedges [Line Items] | ||
Financial assets at fair value through profit or loss | € 12,397 | € 25,568 |
Bonds at amortized costs | 582 | |
Loans at amortized cost | 0 | 831 |
Long-term debt | 0 | 0 |
Deposits | 0 | 0 |
Carrying amount of Financial instruments designated as fair value hedges [Member] | Liabilities [Member] | ||
Fair Value Hedges [Line Items] | ||
Financial assets at fair value through profit or loss | 0 | 0 |
Bonds at amortized costs | 0 | |
Loans at amortized cost | 0 | 0 |
Long-term debt | 62,294 | 57,883 |
Deposits | 0 | 0 |
Accumulated amount of fair value hedge adjustments - Total [Member] | Assets [Member] | ||
Fair Value Hedges [Line Items] | ||
Financial assets at fair value through profit or loss | 221 | 100 |
Bonds at amortized costs | 5 | |
Loans at amortized cost | 0 | 22 |
Long-term debt | 0 | 0 |
Deposits | 0 | 0 |
Accumulated amount of fair value hedge adjustments - Total [Member] | Liabilities [Member] | ||
Fair Value Hedges [Line Items] | ||
Financial assets at fair value through profit or loss | 0 | 0 |
Bonds at amortized costs | 0 | |
Loans at amortized cost | 0 | 0 |
Long-term debt | 1,595 | 4,196 |
Deposits | 0 | 0 |
Accumulated amount of fair value hedge adjustments - Terminated hedge relationships [Member] | Assets [Member] | ||
Fair Value Hedges [Line Items] | ||
Financial assets at fair value through profit or loss | 4 | 2 |
Bonds at amortized costs | 2 | |
Loans at amortized cost | 0 | 4 |
Long-term debt | 0 | 0 |
Deposits | 0 | 0 |
Accumulated amount of fair value hedge adjustments - Terminated hedge relationships [Member] | Liabilities [Member] | ||
Fair Value Hedges [Line Items] | ||
Financial assets at fair value through profit or loss | 0 | 0 |
Bonds at amortized costs | 0 | |
Loans at amortized cost | 0 | 0 |
Long-term debt | 302 | 629 |
Deposits | 0 | 0 |
Fair Value changes used for hedge effectiveness [Member] | Hedged Items [Domain Member] | ||
Fair Value Hedges [Line Items] | ||
Financial assets at fair value through profit or loss | 724 | 12 |
Bonds at amortized costs | 12 | |
Loans at amortized cost | 0 | 63 |
Long-term debt | 2,329 | (1,132) |
Deposits | € 0 | € 0 |
Note 35 - Derivatives - Value_2
Note 35 - Derivatives - Value of Derivatives held as Cash Flow Hedges (Detail) - Derivatives held as Cash Flow Hedges [Member] - EUR (€) € in Millions | Dec. 31, 2021 | Dec. 31, 2020 |
Value of Derivatives held as Cash Flow Hedges [line items] | ||
Assets | € 49 | € 79 |
Liabilities | 43 | 0 |
Nominal amount | 7,451 | 6,171 |
Fair value changes used for hedge effectiveness | € (75) | € (14) |
Note 35 - Derivatives - Cash Fl
Note 35 - Derivatives - Cash Flow Hedge Balances (Detail) - EUR (€) € in Millions | 12 Months Ended | |||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | ||
Cash Flow Hedge Balances | ||||
Reported in Equity | [1] | € (42) | € 11 | € 21 |
thereof relates to terminated programs | 0 | 0 | 0 | |
Gains (losses) posted to equity for the year ended | 1 | (14) | (2) | |
Gains (losses) removed from equity for the year ended | (54) | 4 | (2) | |
thereof relates to terminated programs | 0 | 0 | 0 | |
Changes of hedged item's value used for hedge effectiveness | 66 | (7) | 0 | |
Ineffectiveness recorded within P&L | € 25 | € (12) | € 0 | |
[1] | Reported in equity refers to accumulated other comprehensive income as presented in the Consolidated Balance Sheet. |
Note 35 - Derivatives - Value_3
Note 35 - Derivatives - Value of Derivatives held as Net Investment Hedges (Detail) - Derivatives Held as Net Investment Hedges [Member] - EUR (€) € in Millions | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | ||
Value of Derivatives held as Net Investment Hedges [Line Items] | |||
Assets | € 227 | € 1,617 | |
Liabilities | 1,093 | 408 | |
Nominal amount | 39,087 | 40,277 | |
Fair value changes used for hedge effectiveness | (1,707) | 1,933 | |
Fair value changes recognised in Equity | [1] | 1,892 | (1,415) |
Hedge ineffectiveness | € (179) | € (186) | |
[1] | Reported in equity refers to accumulated other comprehensive income as presented in the Consolidated Balance Sheet. |
Note 35 - Derivatives - Profile
Note 35 - Derivatives - Profile of NIH hedging instruments (Detail) - EUR (€) € in Millions | Dec. 31, 2021 | Dec. 31, 2020 |
Within 1 year [Member] | ||
As of | ||
Nominal amount Foreign exchange forwards | € 38,965 | € 40,217 |
Nominal amount Foreign exchange swaps | 0 | 0 |
Total | 38,965 | 40,217 |
1-3 years | ||
As of | ||
Nominal amount Foreign exchange forwards | 103 | 60 |
Nominal amount Foreign exchange swaps | 0 | 0 |
Total | 103 | 60 |
3-5 years | ||
As of | ||
Nominal amount Foreign exchange forwards | 16 | 0 |
Nominal amount Foreign exchange swaps | 0 | 0 |
Total | 16 | 0 |
Over 5 years | ||
As of | ||
Nominal amount Foreign exchange forwards | 3 | 0 |
Nominal amount Foreign exchange swaps | 0 | 0 |
Total | € 3 | € 0 |
Note 36 - Related Party Transac
Note 36 - Related Party Transactions - Compensation Expense of Key Management Personnel (Detail) - EUR (€) € in Millions | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Compensation Expense of Key Management Personnel [Abstract] | |||
Short-term employee benefits | € 36 | € 30 | € 32 |
Post-employment benefits | 7 | 7 | 6 |
Other long-term benefits | 10 | 2 | 6 |
Termination benefits | 6 | 0 | 34 |
Share-based payment | 15 | 8 | 21 |
Total | € 74 | € 47 | € 99 |
Note 36 - Related Party Trans_2
Note 36 - Related Party Transactions - Compensation Expense of Key Management Personnel (Detail: Text Values) - EUR (€) € in Millions | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Compensation Expense of Key Management Personnel [Abstract] | |||
Aggregated compensation for employee representatives and former management board members on the Supervisory Board paid for their services as employees of Deutsche Bank or status as former employees (retirement, pension and deferred compensation) | € 1 | € 1 | € 1 |
Issued loans and commitments to key management personnel | 8 | 8 | |
Received deposits from key management personnel | 13 | 21 | |
Loans past due from transactions with subsidiaries, joint ventures and associates | 0 | 0 | |
Collaterals held for loans from transactions with subsidiaries, joint ventures and associates | 0 | 5 | |
Trading assets and positive market values from derivative financial transactions with associated companies | 2 | 1 | |
Trading liabilities and negative market values from derivative financial transactions with associated companies | 0 | 0 | |
Other assets related to transactions with associated companies | 42 | 55 | |
Other liabilities related to transactions with associated companies | € 1 | € 2 |
Note 36 - Related Party Trans_3
Note 36 - Related Party Transactions - Transactions with Subsidiaries, Joint Ventures and Associates - Loans (Detail) - EUR (€) € in Millions | 12 Months Ended | |||
Dec. 31, 2021 | Dec. 31, 2020 | |||
Loans (Transactions with Subsidiaries, Joint Ventures and Associates) | ||||
Loans outstanding, beginning of year | € 214 | [1] | € 228 | |
Movement in loans during the period | 159 | (19) | ||
Changes in the group of consolidated companies | 0 | 0 | ||
Exchange rate changes/other | (193) | 5 | ||
Loans outstanding, end of year | [1] | 181 | 214 | |
Other credit risk related transactions: | ||||
Allowance for loan losses | 0 | 0 | ||
Provision for loan losses | 0 | 0 | ||
Guarantees and commitments | € 28 | € 42 | ||
[1] | Loans past due were € 0 million € 0 million € 0 million € 5 million |
Note 36 - Related Party Trans_4
Note 36 - Related Party Transactions - Transactions with Subsidiaries, Joint Ventures and Associates - Deposits (Detail) - EUR (€) € in Millions | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Deposits (Transactions with Subsidiaries, Joint Ventures and Associates) | ||
Deposits outstanding, beginning of year | € 49 | € 58 |
Movement in deposits during the period | 14 | (8) |
Changes in the group of consolidated companies | 0 | 0 |
Exchange rate changes/other | 0 | 0 |
Deposits outstanding, end of year | € 63 | € 49 |
Note 36 - Related Party Trans_5
Note 36 - Related Party Transactions - Summary of Transactions with Related Party Pension Plans (Detail) - EUR (€) € in Millions | Dec. 31, 2021 | Dec. 31, 2020 |
Summary of Transactions with Related Party Pension Plans | ||
Equity shares issued by the Group held in plan assets | € 23 | € 1 |
Other assets | 17 | 24 |
Fees paid from plan assets to asset managers of the Group | 22 | 24 |
Market value of derivatives with a counterparty of the Group | 765 | 306 |
Notional amount of derivatives with a counterparty of the Group | € 12,309 | € 14,623 |
Note 37 - Subsidiaries with sig
Note 37 - Subsidiaries with significant non-controlling interests (Detail) - DWS Group GmbH and Co. KGaA [Member] - EUR (€) € in Millions | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Subsidiaries with significant non-controlling interests, DWS Group GmbH & Co. KGaA [Line Items] | ||
Proportion of ownership interests and voting rights held by non-controlling interests | 20.51% | 20.51% |
Place of business | Global | Global |
Net income (loss) attributable to noncontrolling interests | € 161 | € 117 |
Accumulated non-controlling interests of the subsidiary | 1,545 | 1,412 |
Dividends paid to noncontrolling interests | 74 | 69 |
Summarised financial information [Abstract] | ||
Total assets | 11,611 | 10,448 |
Total liabilities | 4,166 | 3,685 |
Total net revenues | 2,720 | 2,237 |
Net income (loss) | 782 | 558 |
Total comprehensive income (loss), net of tax | € 1,064 | € 259 |
Note 37 - Information on Subsid
Note 37 - Information on Subsidiaries - Carrying Amounts of Assets and Liabilities to which Restrictions Apply (Detail) - EUR (€) € in Millions | Dec. 31, 2021 | Dec. 31, 2020 |
Total assets [Member] | ||
Carrying Amounts of Assets and Liabilities to which Restrictions Apply [line items] | ||
Interest-earning deposits with banks | € 180,942 | € 152,143 |
Financial assets at fair value through profit or loss | 491,233 | 527,980 |
Financial assets at fair value through other comprehensive income | 28,979 | 55,834 |
Loans at amortized cost | 472,069 | 426,691 |
Other | 151,482 | 162,313 |
Total | 1,324,705 | 1,324,961 |
Restricted assets [Member] | ||
Carrying Amounts of Assets and Liabilities to which Restrictions Apply [line items] | ||
Interest-earning deposits with banks | 196 | 153 |
Financial assets at fair value through profit or loss | 55,325 | 52,494 |
Financial assets at fair value through other comprehensive income | 6,648 | 8,110 |
Loans at amortized cost | 79,764 | 78,144 |
Other | 3,233 | 3,316 |
Total | € 145,166 | € 142,217 |
Note 37 - Information on Subs_2
Note 37 - Information on Subsidiaries - Parenthetical Information Note 39 (Detail: Text Values) € in Billions | Dec. 31, 2021EUR (€) | Dec. 31, 2020EUR (€) |
Information on Subsidiaries [Abstract] | ||
Number of consolidated entities in the Group | 563 | 628 |
Number of consolidated structured entities in the Group | 225 | 242 |
Number of entities controlled by the Group are directly or indirectly held by the Group at 100 % of the ownership interests (share of capital) | 376 | 420 |
Number of consolidated entities third parties also hold ownership interests (noncontrolling interests) | 187 | 208 |
Restricted liquidity reserves in EUR billion | € 25.5 | € 43.5 |
Note 38 - Structured Entities -
Note 38 - Structured Entities - Carrying amounts of assets & liabilities recognised in its financial statements relating to DBs interests (Detail) - EUR (€) € in Millions | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Repackaging and Investment Entities [Member] | ||
Assets [Abstract] | ||
Cash and central bank balances | € 0 | € 0 |
Interbank balances (w/o central banks) | 1 | 1 |
Central bank funds sold and securities purchased under resale agreements | 0 | 0 |
Securities borrowed | 0 | 0 |
Total financial assets at fair value through profit or loss | 328 | 340 |
Trading assets | 172 | 181 |
Positive market values from derivative financial instruments | 156 | 158 |
Non-trading financial assets mandatory at fair value through profit or 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 |
Loans at amortized cost | 1,089 | 165 |
Other assets | 4 | 51 |
Total assets | 1,422 | 557 |
Liabilities [Abstract] | ||
Total financial liabilities at fair value through profit or loss | 74 | 92 |
Negative market values from derivative financial instruments | 74 | 92 |
Other short-term borrowings | 0 | 0 |
Other Liabilities | 0 | 0 |
Total liabilities | 74 | 92 |
Off-balance sheet exposure | 0 | 0 |
Total | 1,348 | 466 |
Third Party Funding Entities [Member] | ||
Assets [Abstract] | ||
Cash and central bank balances | 0 | 0 |
Interbank balances (w/o central banks) | 0 | 0 |
Central bank funds sold and securities purchased under resale agreements | 0 | 126 |
Securities borrowed | 0 | 0 |
Total financial assets at fair value through profit or loss | 7,860 | 6,368 |
Trading assets | 4,825 | 4,134 |
Positive market values from derivative financial instruments | 300 | 154 |
Non-trading financial assets mandatory at fair value through profit or loss | 2,735 | 2,080 |
Financial assets designated at fair value through profit or loss | 0 | 0 |
Financial assets at fair value through other comprehensive income | 298 | 333 |
Loans at amortized cost | 60,338 | 46,867 |
Other assets | 575 | 400 |
Total assets | 69,072 | 54,096 |
Liabilities [Abstract] | ||
Total financial liabilities at fair value through profit or loss | 185 | 58 |
Negative market values from derivative financial instruments | 185 | 58 |
Other short-term borrowings | 0 | 0 |
Other Liabilities | 0 | 0 |
Total liabilities | 185 | 58 |
Off-balance sheet exposure | 7,765 | 5,889 |
Total | 76,652 | 59,927 |
Securitizations [Member] | ||
Assets [Abstract] | ||
Cash and central bank balances | 0 | 0 |
Interbank balances (w/o central banks) | 0 | 0 |
Central bank funds sold and securities purchased under resale agreements | 82 | 0 |
Securities borrowed | 0 | 0 |
Total financial assets at fair value through profit or loss | 4,923 | 4,428 |
Trading assets | 3,243 | 2,408 |
Positive market values from derivative financial instruments | 9 | 31 |
Non-trading financial assets mandatory at fair value through profit or loss | 1,671 | 1,990 |
Financial assets designated at fair value through profit or loss | 0 | 0 |
Financial assets at fair value through other comprehensive income | 1,043 | 457 |
Loans at amortized cost | 26,406 | 27,638 |
Other assets | 3,333 | 3,065 |
Total assets | 35,787 | 35,587 |
Liabilities [Abstract] | ||
Total financial liabilities at fair value through profit or loss | 20 | 10 |
Negative market values from derivative financial instruments | 20 | 10 |
Other short-term borrowings | 0 | 0 |
Other Liabilities | 0 | 0 |
Total liabilities | 20 | 10 |
Off-balance sheet exposure | 10,093 | 8,279 |
Total | 45,861 | 43,856 |
Funds [Member] | ||
Assets [Abstract] | ||
Cash and central bank balances | 0 | 0 |
Interbank balances (w/o central banks) | 11 | 12 |
Central bank funds sold and securities purchased under resale agreements | 1,593 | 1,901 |
Securities borrowed | 0 | 0 |
Total financial assets at fair value through profit or loss | 44,192 | 50,316 |
Trading assets | 3,980 | 4,304 |
Positive market values from derivative financial instruments | 2,671 | 3,635 |
Non-trading financial assets mandatory at fair value through profit or loss | 37,542 | 42,377 |
Financial assets designated at fair value through profit or loss | 0 | 0 |
Financial assets at fair value through other comprehensive income | 530 | 270 |
Loans at amortized cost | 15,245 | 10,270 |
Other assets | 12,202 | 20,499 |
Total assets | 73,773 | 83,267 |
Liabilities [Abstract] | ||
Total financial liabilities at fair value through profit or loss | 8,721 | 11,191 |
Negative market values from derivative financial instruments | 8,721 | 11,191 |
Other short-term borrowings | 0 | 0 |
Other Liabilities | 13 | 1,815 |
Total liabilities | 8,734 | 13,006 |
Off-balance sheet exposure | 3,683 | 1,944 |
Total | 68,722 | 72,205 |
Total [Member] | ||
Assets [Abstract] | ||
Cash and central bank balances | 0 | 0 |
Interbank balances (w/o central banks) | 12 | 13 |
Central bank funds sold and securities purchased under resale agreements | 1,675 | 2,027 |
Securities borrowed | 0 | 0 |
Total financial assets at fair value through profit or loss | 57,303 | 61,452 |
Trading assets | 12,220 | 11,027 |
Positive market values from derivative financial instruments | 3,135 | 3,977 |
Non-trading financial assets mandatory at fair value through profit or loss | 41,948 | 46,448 |
Financial assets designated at fair value through profit or loss | 0 | 0 |
Financial assets at fair value through other comprehensive income | 1,871 | 1,060 |
Loans at amortized cost | 103,079 | 84,939 |
Other assets | 16,114 | 24,015 |
Total assets | 180,054 | 173,508 |
Liabilities [Abstract] | ||
Total financial liabilities at fair value through profit or loss | 9,000 | 11,351 |
Negative market values from derivative financial instruments | 9,000 | 11,351 |
Other short-term borrowings | 0 | 0 |
Other Liabilities | 13 | 1,815 |
Total liabilities | 9,013 | 13,166 |
Off-balance sheet exposure | 21,541 | 16,112 |
Total | € 192,582 | € 176,453 |
Note 38 - Structured Entities_2
Note 38 - Structured Entities - Parenthetical Information (Detail: Text Values) - EUR (€) € in Millions | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Structured Entities [Abstract] | ||
Notional value of liquidity facilities and guarantees provided to consolidated funds | € 1,200 | € 1,000 |
Notional related to positive replacement values of derivatives to unconsolidated structured entities | 104,000 | 78,000 |
Notional related to negative replacement values of derivatives to unconsolidated structured entities | 296,000 | 238,000 |
Notional related to off balance sheet commitments to unconsolidated structured entities | 22,000 | 16,000 |
Total size of structured entities | 2,168,000 | 1,878,000 |
Of which: From Funds | 1,251,000 | 1,088,000 |
Total trading assets | 12,200 | 11,000 |
Of which: [Abstract] | ||
Securitizations | 3,200 | 2,400 |
Funds structured entities | 4,300 | |
Loans consisting of investments in securitization tranches and financing to Third party funding entities | 103,100 | 84,900 |
Other assets primarily consisting of prime brokerage receivables and cash margin balances | 16,100 | 24,000 |
Gross revenues from sponsored entities where the Group did not hold an interest | 254 | 134 |
Aggregated carrying amounts of assets transferred to sponsored unconsolidated structured entities for securitization | 3,200 | 1,400 |
Aggregated carrying amounts of assets transferred to sponsored unconsolidated structured entities for repackaging and investment entities | € 1,400 | € 1,200 |
Note 39 - Current and Non-Curre
Note 39 - Current and Non-Current Assets (actual & previous) (Detail) - EUR (€) € in Millions | Dec. 31, 2021 | Dec. 31, 2020 |
Amounts recovered or settled within one year [Member] | ||
Current and Non-Current Assets (actual & previous) [Line Items] | ||
Cash and central bank balances | € 192,012 | € 166,208 |
Interbank balances (w/o central banks) | 7,318 | 9,120 |
Central bank funds sold and securities purchased under resale agreements | 5,904 | 4,728 |
Securities borrowed | 63 | 0 |
Financial assets at fair value through profit or loss | 483,183 | 515,653 |
Financial assets at fair value through other comprehensive income | 6,995 | 14,393 |
Equity method investments | 0 | 0 |
Loans at amortized cost | 133,266 | 111,588 |
Property and equipment | 0 | 0 |
Goodwill and other intangible assets | 0 | 0 |
Other assets | 87,654 | 94,685 |
Assets for current tax | 717 | 300 |
Total assets before deferred tax assets | 917,111 | 916,674 |
Amounts recovered or settled after one year [Member] | ||
Current and Non-Current Assets (actual & previous) [Line Items] | ||
Cash and central bank balances | 9 | 0 |
Interbank balances (w/o central banks) | 24 | 11 |
Central bank funds sold and securities purchased under resale agreements | 2,465 | 3,805 |
Securities borrowed | 0 | 0 |
Financial assets at fair value through profit or loss | 8,050 | 12,327 |
Financial assets at fair value through other comprehensive income | 21,984 | 41,441 |
Equity method investments | 1,091 | 901 |
Loans at amortized cost | 338,803 | 315,103 |
Property and equipment | 5,536 | 5,549 |
Goodwill and other intangible assets | 6,824 | 6,725 |
Other assets | 16,130 | 15,675 |
Assets for current tax | 497 | 686 |
Total assets before deferred tax assets | 401,414 | 402,223 |
Total [Member] | ||
Current and Non-Current Assets (actual & previous) [Line Items] | ||
Cash and central bank balances | 192,021 | 166,208 |
Interbank balances (w/o central banks) | 7,342 | 9,130 |
Central bank funds sold and securities purchased under resale agreements | 8,368 | 8,533 |
Securities borrowed | 63 | 0 |
Financial assets at fair value through profit or loss | 491,233 | 527,980 |
Financial assets at fair value through other comprehensive income | 28,979 | 55,834 |
Equity method investments | 1,091 | 901 |
Loans at amortized cost | 472,069 | 426,691 |
Property and equipment | 5,536 | 5,549 |
Goodwill and other intangible assets | 6,824 | 6,725 |
Other assets | 103,784 | 110,360 |
Assets for current tax | 1,214 | 986 |
Total assets before deferred tax assets | 1,318,525 | 1,318,898 |
Deferred tax assets | 6,180 | 6,063 |
Total assets | € 1,324,705 | € 1,324,961 |
Note 39 - Current and Non-Cur_2
Note 39 - Current and Non-Current Liabilities (actual & previous) (Detail) - EUR (€) € in Millions | Dec. 31, 2021 | Dec. 31, 2020 |
Amounts recovered or settled within one year [Member] | ||
Current and Non-Current Liabilities (actual & previous) [Line Items] | ||
Deposits | € 582,924 | € 544,383 |
Central bank funds purchased and securities sold under repurchase agreements | 297 | 1,830 |
Securities loaned | 24 | 1,698 |
Financial liabilities at fair value through profit or loss | 398,204 | 416,042 |
Other short-term borrowings | 4,034 | 3,553 |
Other liabilities | 96,138 | 112,617 |
Provisions | 2,641 | 2,430 |
Liabilities for current tax | 411 | 328 |
Long-term debt | 49,434 | 59,613 |
Trust preferred securities | 528 | 1,321 |
Total liabilities before deferred tax liabilities | 1,134,635 | 1,143,814 |
Amounts recovered or settled after one year [Member] | ||
Current and Non-Current Liabilities (actual & previous) [Line Items] | ||
Deposits | 21,472 | 23,362 |
Central bank funds purchased and securities sold under repurchase agreements | 450 | 495 |
Securities loaned | 0 | 0 |
Financial liabilities at fair value through profit or loss | 2,653 | 3,157 |
Other short-term borrowings | 0 | 0 |
Other liabilities | 1,658 | 1,591 |
Provisions | 0 | 0 |
Liabilities for current tax | 189 | 246 |
Long-term debt | 95,051 | 89,550 |
Trust preferred securities | 0 | 0 |
Total liabilities before deferred tax liabilities | 121,473 | 118,402 |
Total [Member] | ||
Current and Non-Current Liabilities (actual & previous) [Line Items] | ||
Deposits | 604,396 | 567,745 |
Central bank funds purchased and securities sold under repurchase agreements | 747 | 2,325 |
Securities loaned | 24 | 1,698 |
Financial liabilities at fair value through profit or loss | 400,857 | 419,199 |
Other short-term borrowings | 4,034 | 3,553 |
Other liabilities | 97,795 | 114,208 |
Provisions | 2,641 | 2,430 |
Liabilities for current tax | 600 | 574 |
Long-term debt | 144,485 | 149,163 |
Trust preferred securities | 528 | 1,321 |
Total liabilities before deferred tax liabilities | 1,256,108 | 1,262,216 |
Deferred tax liabilities | 498 | 561 |
Total liabilities | € 1,256,606 | € 1,262,777 |
Note 40 - Events after the Repo
Note 40 - Events after the Reporting Period (Detail: Text Values) | 12 Months Ended |
Dec. 31, 2021EUR (€) | |
Russia military actions [Abstract] | |
Capital of DB Groups operating subsidiary in Russia, OOO Deutsche Bank (DB Moscow) | € 200,000,000 |
Total assets DB Moscow | 1,500,000,000 |
Deposits with Russian Central Bank (Russian Ruble equivalent) | 500,000,000 |
Employees in technology service center in Russia, OOO Deutsche Bank TechCentre (DBTC) | € 1,600 |
Employees in OOO Deutsche Bank TechCentre (DBTC) in percent of the Groups technology workforce | 0.05 |
Groups loan exposure to Russia, gross | € 1,400,000,000 |
Proportion in relation to the Groups total loan book | 0.003 |
Loan exposure to Russia, net, after netting against guarantees and asset collateral | € 600,000,000 |
Exposure to Russia related to undrawn commitments | 1,000,000,000 |
Exposure to Russia related to written financial guarantees and trade guarantees | € 500,000,000 |
Note 41 - Parenthetical Informa
Note 41 - Parenthetical Information Regulatory Capital (Detail: Text Values) - EUR (€) € in Millions | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Capital instruments phased out from 2013 to 2022 [Abstract] | ||
Recognition cap | 10.00% | 20.00% |
Buy-back of shares (in million shares) [Abstract] | ||
Approval from the Annual General Meeting (AGM) | 206,700,000 | |
Of which: can be purchased by using derivatives | 103,300,000 | |
Included: derivatives with a maturity exceeding 18 months | 41,300,000 | |
Approval from the AGM of which can be purchased using call option | 24,000,000 | |
Shares purchased during the period | 4,000,000 | |
Buy-back of shares from 2020 AGM until 2021 AGM | 28,700,000 | |
Number of shares held in Treasury from buybacks as of the 2021 Annual General Meeting | 700,000 | 3,700,000 |
Capital Instrumente [Abstract] | ||
Authorized capital available to the Management Board in EUR million | € 2,560 | |
Authorized capital available to the Management Board in million shares | 1,000,000,000 | |
Conditional capital against cash in EUR mn. | € 512 | |
Conditional capital against cash in million shares | 200,000,000 | |
Additional conditional capital for equity compensation in EUR million | € 51.2 | |
Additional conditional capital for equity compensation in million shares | 20,000,000 | |
Authorized issuance of participatory notes and other Hybrid Debt Securities qualify as Additional Tier 1 capital with an equivalent value in EUR Million | € 8,000 | |
Hybrid Tier 1 capital instruments [Abstract] | ||
Reduction at the beginning of each financial year (phase out) | 10.00% | |
Reduction at the beginning of each financial year (phase out) in EUR million | € 1,300 | |
Eligible Additional Tier1 instruments in EUR million | 8,900 | |
Additional Tier 1 instruments recognized under fully loaded CRR/CRD 4 rules in EUR million | 8,300 | |
Of which: legacy Hybrid Tier 1 instruments recognizable during the transition period | 600 | |
Thereof: newly issued AT1 Notes | 2,500 | |
Notional amount of redeemed legacy Hybrid Tier 1 instrument (1) in U.S. Dollar million | 500 | |
Tier 2 capital instruments [Abstract] | ||
Total Tier 2 capital instruments recognized during the transition period under CRR/CRD 4 in EUR million | 7,400 | |
Nominal value of Total Tier 2 capital instruments recognized during the transition period under CRR/CRD in EUR million | 8,800 | |
Tier 2 instruments recognized under fully loaded CRR/CRD 4 rules in EUR million | 7,300 | |
Nominal value of Tier 2 instruments recognized under fully loaded CRR/CRD rules in EURO million | 8,700 | |
Issued Tier 2 capital instruments (nominal value ) in USD million | 1,250 | |
Equivalent amount of issued Tier 2 capital instruments (nominal value ) in EURO million | 1,100 | |
Redeemed Tier 2 capital instruments (nominal value ) in EURO million | 300 | |
Of which: legacy Hybrid Tier 1 instruments recognizable during the transition period | 600 | |
Own Funds [Abstract] | ||
Including: capital deduction effective from January 2018 onwards, based on ECB guidance on irrevocable payment commitments related to the Single Resolution Fund and the Deposit Guarantee Scheme in EUR million | 1,100 | € 900 |
Including: capital deduction effective from December 2020 based on ECBs supervisory recommendation for a prudential provisioning of non-performing exposures in EURO million | 700 | 700 |
Minimum value commitments as per Article 36 Abs. 1 N CRR | 17 | |
CET 1 increase resulting from use of IFRS 9 transitional provision as per Article 473a of the CRR in EURO million | 39 | 54 |
Capital deductions based on regular ECB review included in 2020 have been released | 700 | |
Reconciliation of shareholders equity to Own Funds [Abstract] | ||
Including: capital deduction effective from January 2018 onwards, based on ECB guidance on irrevocable payment commitments related to the Single Resolution Fund and the Deposit Guarantee Scheme in EURO million | 1,100 | 900 |
Including: negative amounts resulting from the calculation of expected loss amounts in EURO million | 600 | 100 |
Including: capital deduction effective from December 2020 based on ECBs supervisory recommendation for a prudential provisioning of non-performing exposures in EURO million | 700 | 700 |
Minimum value commitments as per Article 36 Abs. 1 N CRR | 17 | |
CET 1 increase resulting from use of IFRS 9 transitional provision as per Article 473a of the CRR in EURO million | 39 | € 54 |
Capital deductions based on regular ECB review included in 2020 have been released | € 700 |
Note 41 - Management Report - R
Note 41 - Management Report - Risk and Capital Performance - Own Funds Template, incl. RWA and capital ratios (Detail) - CCR/CRD 4 [Member] - EUR (€) | 12 Months Ended | |||
Dec. 31, 2021 | Dec. 31, 2020 | |||
Common Equity Tier 1 (CET 1) capital: instruments and reserves [Abstract] | ||||
Capital instruments and the related share premium accounts and other reserves | € 45,864,000,000 | € 45,890,000,000 | [1] | |
Retained earnings | 10,506,000,000 | 9,784,000,000 | [1] | |
Accumulated other comprehensive income (loss), net of tax | (444,000,000) | (1,118,000,000) | [1] | |
Independently reviewed interim profits net of any foreseeable charge or dividend | [2] | 1,379,000,000 | 253,000,000 | [1] |
Other | 910,000,000 | 805,000,000 | [1] | |
Common Equity Tier 1 (CET 1) capital before regulatory adjustments | 58,215,000,000 | 55,613,000,000 | [1] | |
Common Equity Tier 1 (CET 1) capital: regulatory adjustments [Abstract] | ||||
Additional value adjustments (negative amount) | (1,812,000,000) | (1,430,000,000) | [1] | |
Other prudential filters (other than additional value adjustments) | (14,000,000) | (112,000,000) | [1] | |
Goodwill and other intangible assets (net of related tax liabilities) (negative amount) | (4,897,000,000) | (4,635,000,000) | [1] | |
Deferred tax assets that rely on future profitability excluding those arising from temporary differences (net of related tax liabilities where the conditions in Art. 38 (3) CRR are met) (negative amount) | (1,466,000,000) | (1,353,000,000) | [1] | |
Negative amounts resulting from the calculation of expected loss amounts | (573,000,000) | (99,000,000) | [1] | |
Defined benefit pension fund assets (negative amount) | (991,000,000) | (772,000,000) | [1] | |
Direct, indirect and synthetic holdings by an institution of own CET 1 instruments (negative amount) | 0 | 0 | [1] | |
Direct, indirect and synthetic holdings by the institution of the CET 1 instruments of financial sector entities where the institution has a significant investment in those entities (amount above the 10 % / 15 % thresholds and net of eligible short positions) (negative amount) | 0 | 0 | [1] | |
Deferred tax assets arising from temporary differences (net of related tax liabilities where the conditions in Art. 38 (3) CRR are met) (amount above the 10 % / 15 % thresholds) (negative amount) | (151,000,000) | (75,000,000) | [1] | |
Other regulatory adjustments | [3] | (1,805,000,000) | (2,252,000,000) | [1] |
Total regulatory adjustments to Common Equity Tier 1 (CET 1) capital | (11,709,000,000) | (10,728,000,000) | [1] | |
Common Equity Tier 1 (CET 1) capital | 46,506,000,000 | 44,885,000,000 | [1] | |
Additional Tier 1 (AT1) capital: instruments [Abstract] | ||||
Capital instruments and the related share premium accounts | 8,328,000,000 | 5,828,000,000 | [1] | |
Amount of qualifying items referred to in Art. 484 (4) CRR and the related share premium accounts subject to phase out from AT1 | 600,000,000 | 1,100,000,000 | [1] | |
Additional Tier 1 (AT1) capital before regulatory adjustments | 8,928,000,000 | 6,928,000,000 | [1] | |
Additional Tier 1 (AT1) capital: regulatory adjustments [Abstract] | ||||
Direct, indirect and synthetic holdings by an institution of own AT1 instruments (negative amount) | (60,000,000) | (80,000,000) | [1] | |
Residual amounts deducted from AT1 capital with regard to deduction from CET 1 capital during the transitional period pursuant to Art. 472 CRR | [1] | |||
Other regulatory adjustments | 0 | 0 | [1] | |
Total regulatory adjustments to Additional Tier 1 (AT1) capital | [1] | (60,000,000) | (80,000,000) | |
Additional Tier 1 (AT1) capital | 8,868,000,000 | 6,848,000,000 | [1] | |
Tier 1 capital (T1 = CET 1 + AT1) | 55,375,000,000 | 51,734,000,000 | [1] | |
Tier 2 (T2) capital | 7,358,000,000 | 6,944,000,000 | [1] | |
Total Capital | 62,732,000,000 | 58,677,000,000 | [1] | |
Total risk-weighted assets | € 351,629,000,000 | € 328,951,000,000 | [1] | |
Capital ratios [Abstract] | ||||
Common Equity Tier 1 capital ratio (as a percentage of risk-weighted assets) | 13.2 | 13.6 | [1] | |
Tier 1 capital ratio (as a percentage of risk-weighted assets) | [1] | 15.7 | 15.7 | |
Total capital ratio (as a percentage of risk-weighted assets) | [1] | 17.8 | 17.8 | |
[1] | The Common Equity Tier 1 capital for December 31, 2020 has been updated to reflect a dividend payment of zero for the financial year 2020 | |||
[2] | Full year profit is recognized as per ECB Decision (EU) 2015/656 in accordance with the Article 26(2) of Regulation (EU) No 575/2013 (ECB/2015/4). | |||
[3] | Includes capital deductions of € 1.1 billion € 0.9 billion € 0.7 billion € 0.7 billion € 17 million € 39 million € 54 million € 0.7 billion |
Note 41 - Management Report -_2
Note 41 - Management Report - Risk and Capital Performance - Reconciliation of Shareholders Equity to Regulatory Capital (Detail) - Reconciliation of Shareholders Equity to Regulatory Capital [Member] - EUR (€) € in Millions | Dec. 31, 2021 | Dec. 31, 2020 | [1] | |
Reconciliation of Shareholders Equity to Regulatory Capital [Line Items] | ||||
Total shareholders equity per accounting balance sheet (IASB IFRS) | € 58,096 | € 54,774 | ||
Difference between equity per IASB IFRS / EU IFRS4 | [2] | 68 | 12 | |
Shareholders equity per accounting balance sheet EU IFRS | 58,027 | 54,786 | ||
Deconsolidation Consolidation of entities | 265 | 265 | ||
Of which: [Abstract] | ||||
Additional paid-in capital | 0 | 0 | ||
Retained earnings | 265 | 265 | ||
Accumulated other comprehensive income (loss), net of tax | 0 | 0 | ||
Total shareholders' equity per regulatory balance sheet | 58,292 | 55,050 | ||
Noncontrolling interest based on transitional rules | 910 | 805 | ||
Accrual for dividend and AT1 coupons | [3] | (987) | 242 | |
Common Equity Tier 1 (CET 1) capital before regulatory adjustments | 58,215 | 55,613 | ||
Additional value adjustments | (1,812) | (1,430) | ||
Other prudential filters (other than additional value adjustments) | (14) | (112) | ||
Goodwill and other intangible assets (net of related tax liabilities) | (4,897) | (4,635) | ||
Deferred tax assets that rely on future profitability | (1,617) | (1,428) | ||
Defined benefit pension fund assets | (991) | (772) | ||
Direct, indirect and synthetic holdings by the institution of the CET 1 instruments of financial sector entities where the institution has a significant investment in those entities | 0 | 0 | ||
Other regulatory adjustments | [4] | (2,378) | (2,351) | |
Common Equity Tier 1 capital | € 46,506 | € 44,885 | ||
[1] | The Common Equity Tier 1 capital for December 31, 2020 has been updated to reflect a dividend payment of zero for the financial year 2020 | |||
[2] | Differences in “equity per balance sheet” result entirely from deviations in profit (loss) after taxes due to the application of EU carve-out rules as set forth in the chapter "Basis of preparation/impact of changes in accounting principles". These rules were initially applied in the first quarter 2020 | |||
[3] | Full year profit is recognized as per ECB Decision (EU) 2015/656 in accordance with the Article 26(2) of Regulation (EU) No 575/2013 (ECB/2015/4) | |||
[4] | Includes capital deductions of € 1.1 billion € 0.9 billion € 0.7 billion € 0.7 billion € 0.6 billion € 0.1 billion € 17 million € 39 million € 54 million € 0.7 billion |
Note 42 - Impact on DBs Transfo
Note 42 - Impact on DBs Transformation (Detail:Text Values) | 12 Months Ended | |
Dec. 31, 2021EUR (€) | Dec. 31, 2020EUR (€) | |
Software Impairments [Abstract] | ||
Impairment from reassessment | € 131,000,000 | € 36,000,000 |
Additional amortization included in General and administrative expenses | 451,000,000 | 178,000,000 |
Additional impairment in relation to a settlement of a contract | 350,000,000 | |
Real estate impairment [Abstract] | ||
Total impairment | 269,000,000 | 201,000,000 |
Deferred tax asset valuation adjustments primarily relate to the US and UK | 0 | 37,000,000 |
Restructuring and severance charges [Abstract] | ||
Restructuring expenses | € 261,000,000 | € 485,000,000 |
Employee impact in FTE | 1,362,000,000 | 1,447,000,000 |
Severance expenses | € 209,000,000 | € 203,000,000 |
Other transformation related expenses | ||
Other Transformation related expenses | € 152,000,000 | € 75,000,000 |
Note 43 - Condensed Statement o
Note 43 - Condensed Statement of Comprehensive Income (Deutsche Bank Parent) (Detail) - Deutsche Bank AG (Parent) [Member] - EUR (€) € in Millions | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Condensed Statement of Comprehensive Income (Deutsche Bank Parent) [Line Items] | |||
Net income (loss) attributable to Deutsche Bank shareholders and additional equity components | € 1,544 | € 950 | € (18,083) |
Other comprehensive income (loss), net of tax | 130 | (172) | (440) |
Total comprehensive income (loss), net of tax | € 1,674 | € 778 | € (18,523) |
Note 43 - Condensed Statement_2
Note 43 - Condensed Statement of Income (Deutsche Bank Parent) (Detail) - Deutsche Bank AG (Parent) [Member] - EUR (€) € in Millions | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Condensed Statement of Income (Deutsche Bank Parent) [Line Items] | |||
Interest income, excluding dividends from subsidiaries | € 13,830 | € 15,301 | € 17,402 |
Dividends received from [Abstract] | |||
Dividends received from bank subsidiaries | 356 | 166 | 914 |
Dividends received from nonbank subsidiaries | 893 | 859 | 608 |
Interest expense | 5,120 | 6,274 | 9,810 |
Net interest and dividend income | 9,959 | 10,052 | 9,114 |
Provision for credit losses | 317 | 1,444 | 3,118 |
Net interest and dividend income after provision for credit losses | 9,642 | 8,608 | 5,996 |
Noninterest income [Abstract] | |||
Commissions and fee income | 4,987 | 4,414 | 2,957 |
Net gains (losses) on financial assets/liabilities at fair value through profit or loss | 2,151 | 1,709 | 132 |
Other income (loss) | 105 | 1,506 | (11,912) |
Total noninterest income | 7,034 | 7,629 | (8,824) |
Noninterest expenses [Abstract] | |||
Compensation and benefits | 5,395 | 5,641 | 4,760 |
General and administrative expenses | 7,427 | 6,950 | 7,735 |
Services provided by (to) affiliates, net | 2,097 | 2,730 | 1,328 |
Impairment of goodwill and other intangible assets | 0 | 0 | 75 |
Total noninterest expenses | 14,918 | 15,321 | 13,898 |
Profit (loss) before income taxes | 1,757 | 916 | (16,725) |
Income tax expense (benefit) | 213 | (34) | 1,357 |
Net income (loss) attributable to Deutsche Bank shareholders and additional equity components | € 1,544 | € 950 | € (18,083) |
Note 43 - Condensed Balance She
Note 43 - Condensed Balance Sheet (Deutsche Bank Parent) (Detail) - Deutsche Bank AG (Parent) [Member] - EUR (€) € in Millions | Dec. 31, 2021 | Dec. 31, 2020 |
Assets [Abstract] | ||
Cash and central bank balances | € 153,899 | € 138,716 |
Financial assets at fair value through other comprehensive income | 48,612 | 74,931 |
Investments in associates | 236 | 183 |
Total assets | 1,258,617 | 1,270,004 |
Liabilities and equity [Abstract] | ||
Long-term debt | 162,108 | 169,007 |
Total liabilities | 1,208,592 | 1,223,819 |
Total shareholders equity | 41,720 | 40,361 |
Additional equity components | 8,305 | 5,824 |
Total equity | 50,025 | 46,185 |
Total liabilities and equity | 1,258,617 | 1,270,004 |
Bank subsidiaries [Member] | ||
Assets [Abstract] | ||
Interbank balances (w/o central banks) | 13,265 | 13,980 |
Central bank funds sold and securities purchased under resale agreements | 0 | 0 |
Financial assets at fair value through profit or loss | 1,083 | 1,533 |
Investment in subsidiaries | 6,592 | 6,563 |
Loans | 34,817 | 26,893 |
Other assets | 1,396 | 1,095 |
Liabilities and equity [Abstract] | ||
Deposits | 25,927 | 21,470 |
Central bank funds purchased, securities sold under repurchase agreements and securities loaned | 570 | 895 |
Financial liabilities at fair value through profit or loss | 1,493 | 2,003 |
Other short-term borrowings | 27 | 37 |
Other liabilities | 1,028 | 1,125 |
Nonbank subsidiaries [Member] | ||
Assets [Abstract] | ||
Central bank funds sold and securities purchased under resale agreements | 39,253 | 29,165 |
Financial assets at fair value through profit or loss | 1,234 | 1,360 |
Investment in subsidiaries | 21,725 | 23,229 |
Loans | 36,351 | 38,095 |
Other assets | 12,616 | 11,798 |
Liabilities and equity [Abstract] | ||
Deposits | 16,460 | 15,396 |
Central bank funds purchased, securities sold under repurchase agreements and securities loaned | 48,891 | 36,566 |
Financial liabilities at fair value through profit or loss | 859 | 559 |
Other short-term borrowings | 956 | 1,440 |
Other liabilities | 5,291 | 6,285 |
Other subsidiaries [Member] | ||
Assets [Abstract] | ||
Interbank balances (w/o central banks) | 4,742 | 4,668 |
Central bank funds sold and securities purchased under resale agreements | 7,552 | 7,715 |
Financial assets at fair value through profit or loss | 430,102 | 468,875 |
Loans | 352,176 | 313,011 |
Other assets | 92,967 | 108,194 |
Liabilities and equity [Abstract] | ||
Deposits | 497,726 | 474,012 |
Central bank funds purchased, securities sold under repurchase agreements and securities loaned | 762 | 3,751 |
Financial liabilities at fair value through profit or loss | 365,005 | 387,389 |
Other short-term borrowings | 3,789 | 3,313 |
Other liabilities | € 77,702 | € 100,571 |
Note 43 - Condensed Statement_3
Note 43 - Condensed Statement of Cash Flows (Deutsche Bank Parent) (Detail) - Deutsche Bank AG (Parent) [Member] - EUR (€) € in Millions | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Condensed Statement of Cash Flows (Deutsche Bank Parent) [Line Items] | |||
Net cash provided by (used in) operating activities | € (12,829) | € 20,605 | € (41,369) |
Cash flows from investing activities, Proceeds from [Abstract] | |||
Sale of financial assets at fair value through other comprehensive income | 49,020 | 37,446 | 14,075 |
Maturities of financial assets at fair value through other comprehensive income | 18,646 | 29,093 | 36,236 |
Sale of debt securities held to collect at amortized cost | 30 | 8,239 | 350 |
Maturities of debt securities held to collect at amortized cost | 4,743 | 3,960 | 195 |
Sale of investments in associates | 21 | 30 | 0 |
Sale of property and equipment | 93 | 12 | 12 |
Purchase of [Abstract] | |||
Financial assets at fair value through other comprehensive income | (42,011) | (75,890) | (47,705) |
Debt Securities held to collect at amortized cost | (5,922) | (3,359) | (19,320) |
Investments in associates | (8) | (3) | (1) |
Property and equipment | (464) | (387) | (266) |
Net change in investments in subsidiaries | 1,516 | 3,427 | 1,149 |
Other, net | (965) | (927) | (861) |
Net cash provided by (used in) investing activities | 24,698 | 1,642 | (16,136) |
Cash flows from financing activities [Abstract] | |||
Issuances of subordinated long-term debt | 1,099 | 1,668 | 25 |
Repayments and extinguishments of subordinated long-term debt | (25) | (1,120) | (11) |
Issuances of trust preferred securities | 0 | 0 | 0 |
Principal portion of lease payments | (462) | (479) | (362) |
Repayments and extinguishments of trust preferred securities | 0 | 0 | 0 |
Common shares issued | 0 | 0 | 0 |
Purchases of treasury shares, Cash Flows | (346) | (279) | (1,359) |
Sale of treasury shares | 35 | 76 | 1,181 |
Additional Equity Components (AT1) issued | 2,500 | 1,153 | 0 |
Purchases of Additional Equity Components (AT1) | (1,230) | (709) | (88) |
Sale of Additional Equity Components (AT1) | 1,210 | 721 | 77 |
Coupon on additional equity components, pre tax | (363) | (349) | (330) |
Cash dividends paid | 0 | 0 | (227) |
Net cash provided by (used in) financing activities | 2,417 | 681 | (1,094) |
Net effect of exchange rate changes on cash and cash equivalents | 755 | (799) | 1,163 |
Net increase (decrease) in cash and cash equivalents | 15,042 | 47,295 | (57,436) |
Cash and cash equivalents at beginning of period | 129,699 | 82,405 | 139,841 |
Cash and cash equivalents at end of period | 144,741 | 129,699 | 82,405 |
Net cash provided by (used in) operating activities include [Abstract] | |||
Income taxes paid (received), net | 13 | 916 | 280 |
Interest paid | 5,182 | 6,324 | 10,054 |
Interest received | 13,288 | 15,905 | 14,786 |
Dividend received | 1,468 | 724 | 4,217 |
Cash and cash equivalents comprise [Abstract] | |||
Cash and central bank balances (not included Interest-earning time deposits with central banks) | 138,800 | 124,549 | 75,180 |
Interbank balances (w/o central banks) (not included: time deposits with banks) | 5,941 | 5,151 | 7,225 |
Cash and cash equivalents | € 144,741 | € 129,699 | € 82,405 |
Note 43 - Deutsche Bank Parent
Note 43 - Deutsche Bank Parent Long-Term Debt (Detail) - Deutsche Bank AG (Parent) [Member] - EUR (€) € in Millions | Dec. 31, 2021 | Dec. 31, 2020 |
Total Dec 31 [Domain Member] | Debt Seniority [Domain Member] | ||
By remaining maturities [Abstract] | ||
Other | € 283 | € 571 |
Total long-term debt | 162,108 | 169,007 |
Total Dec 31 [Domain Member] | Senior debt, Bonds and notes [Member] | ||
By remaining maturities [Abstract] | ||
Fixed rate | 61,469 | 62,296 |
Floating rate | 18,184 | 27,991 |
Other | 72,549 | |
Total Dec 31 [Domain Member] | Subordinated debt, Bonds and notes [Member] | ||
By remaining maturities [Abstract] | ||
Fixed rate | 7,157 | 6,047 |
Floating rate | 2,467 | € 2,846 |
Due in 2022 [Member] | Debt Seniority [Domain Member] | ||
By remaining maturities [Abstract] | ||
Other | 15 | |
Total long-term debt | 50,063 | |
Due in 2022 [Member] | Senior debt, Bonds and notes [Member] | ||
By remaining maturities [Abstract] | ||
Fixed rate | 9,053 | |
Floating rate | 3,135 | |
Other | 37,246 | |
Due in 2022 [Member] | Subordinated debt, Bonds and notes [Member] | ||
By remaining maturities [Abstract] | ||
Fixed rate | 14 | |
Floating rate | 600 | |
Due in 2023 [Member] | Debt Seniority [Domain Member] | ||
By remaining maturities [Abstract] | ||
Other | 93 | |
Total long-term debt | 14,744 | |
Due in 2023 [Member] | Senior debt, Bonds and notes [Member] | ||
By remaining maturities [Abstract] | ||
Fixed rate | 11,038 | |
Floating rate | 1,373 | |
Other | 1,044 | |
Due in 2023 [Member] | Subordinated debt, Bonds and notes [Member] | ||
By remaining maturities [Abstract] | ||
Fixed rate | 0 | |
Floating rate | 1,197 | |
Due in 2024 [Member] | Debt Seniority [Domain Member] | ||
By remaining maturities [Abstract] | ||
Other | 88 | |
Total long-term debt | 12,680 | |
Due in 2024 [Member] | Senior debt, Bonds and notes [Member] | ||
By remaining maturities [Abstract] | ||
Fixed rate | 9,182 | |
Floating rate | 2,327 | |
Other | 999 | |
Due in 2024 [Member] | Subordinated debt, Bonds and notes [Member] | ||
By remaining maturities [Abstract] | ||
Fixed rate | 64 | |
Floating rate | 21 | |
Due in 2025 [Member] | Debt Seniority [Domain Member] | ||
By remaining maturities [Abstract] | ||
Other | 0 | |
Total long-term debt | 12,290 | |
Due in 2025 [Member] | Senior debt, Bonds and notes [Member] | ||
By remaining maturities [Abstract] | ||
Fixed rate | 5,295 | |
Floating rate | 3,243 | |
Other | 935 | |
Due in 2025 [Member] | Subordinated debt, Bonds and notes [Member] | ||
By remaining maturities [Abstract] | ||
Fixed rate | 2,623 | |
Floating rate | 194 | |
Due in 2026 [Member] | Debt Seniority [Domain Member] | ||
By remaining maturities [Abstract] | ||
Other | 42 | |
Total long-term debt | 16,045 | |
Due in 2026 [Member] | Senior debt, Bonds and notes [Member] | ||
By remaining maturities [Abstract] | ||
Fixed rate | 9,987 | |
Floating rate | 3,235 | |
Other | 814 | |
Due in 2026 [Member] | Subordinated debt, Bonds and notes [Member] | ||
By remaining maturities [Abstract] | ||
Fixed rate | 1,967 | |
Floating rate | 0 | |
Due after 2026 [Member] | Debt Seniority [Domain Member] | ||
By remaining maturities [Abstract] | ||
Other | 46 | |
Total long-term debt | 56,286 | |
Due after 2026 [Member] | Senior debt, Bonds and notes [Member] | ||
By remaining maturities [Abstract] | ||
Fixed rate | 16,915 | |
Floating rate | 4,871 | |
Other | 31,511 | |
Due after 2026 [Member] | Subordinated debt, Bonds and notes [Member] | ||
By remaining maturities [Abstract] | ||
Fixed rate | 2,488 | |
Floating rate | € 455 |
Note 44 - IBOR Transition (Deta
Note 44 - IBOR Transition (Detail) € in Millions | Dec. 31, 2021EUR (€) | |
USD LIBOR [Member] | ||
IBOR Transition [Line Items] | ||
Financial Assets IBOR | € 2,894,005 | |
Non-derivative financial assets [Abstract] | ||
Bonds (FRN) | 400 | |
Securitizations | 98 | |
Syndicated loans | 35,312 | |
Repos / Other Secured Lending | 308 | |
Loans / Advances (Total Limit) | 27,091 | |
Retail / Commercial Mortgages | 395 | |
Other | 982 | |
Derivative financial assets [Abstract] | ||
Interest Rate Derivatives Exchange Traded | 80,264 | [1] |
Interest Rate Derivatives OTC | 2,546,602 | [1] |
Other OTC Derivatives | 202,554 | [1] |
Financial Liabilities IBOR | 2,686,766 | |
Non-Derivative Financial liabilities [Abstract] | ||
Bonds (FRN) | 6,561 | |
Repos / Other Secured Lending | 6 | |
Deposits | 10,809 | |
Other | 26 | |
Derivative Financial liabilities [Abstract] | ||
Interest Rate Derivatives Exchange Traded | 3,374 | [1] |
Interest Rate Derivatives OTC | 2,469,906 | [1] |
Other OTC Derivatives | 196,083 | [1] |
Off-balance sheet [Abstract] | ||
Loan Commitments | 73,152 | |
Other Commitments | 13 | |
Other | 0 | |
Total off-balance sheet | 73,166 | |
GBP LIBOR [Member] | ||
IBOR Transition [Line Items] | ||
Financial Assets IBOR | 356,907 | |
Non-derivative financial assets [Abstract] | ||
Bonds (FRN) | 0 | |
Securitizations | 37 | |
Syndicated loans | 552 | |
Repos / Other Secured Lending | 0 | |
Loans / Advances (Total Limit) | 4,926 | |
Retail / Commercial Mortgages | 0 | |
Other | 90 | |
Derivative financial assets [Abstract] | ||
Interest Rate Derivatives Exchange Traded | 0 | [1] |
Interest Rate Derivatives OTC | 345,222 | [1] |
Other OTC Derivatives | 6,080 | [1] |
Financial Liabilities IBOR | 321,471 | |
Non-Derivative Financial liabilities [Abstract] | ||
Bonds (FRN) | 0 | |
Repos / Other Secured Lending | 0 | |
Deposits | 0 | |
Other | 41 | |
Derivative Financial liabilities [Abstract] | ||
Interest Rate Derivatives Exchange Traded | 0 | [1] |
Interest Rate Derivatives OTC | 315,253 | [1] |
Other OTC Derivatives | 6,177 | [1] |
Off-balance sheet [Abstract] | ||
Loan Commitments | 498 | |
Other Commitments | 0 | |
Other | 0 | |
Total off-balance sheet | 498 | |
CHF LIBOR [Member] | ||
IBOR Transition [Line Items] | ||
Financial Assets IBOR | 47,246 | |
Non-derivative financial assets [Abstract] | ||
Bonds (FRN) | 0 | |
Securitizations | 0 | |
Syndicated loans | 11 | |
Repos / Other Secured Lending | 0 | |
Loans / Advances (Total Limit) | 171 | |
Retail / Commercial Mortgages | 0 | |
Other | 0 | |
Derivative financial assets [Abstract] | ||
Interest Rate Derivatives Exchange Traded | 0 | [1] |
Interest Rate Derivatives OTC | 44,657 | [1] |
Other OTC Derivatives | 2,408 | [1] |
Financial Liabilities IBOR | 45,442 | |
Non-Derivative Financial liabilities [Abstract] | ||
Bonds (FRN) | 0 | |
Repos / Other Secured Lending | 0 | |
Deposits | 0 | |
Other | 0 | |
Derivative Financial liabilities [Abstract] | ||
Interest Rate Derivatives Exchange Traded | 0 | [1] |
Interest Rate Derivatives OTC | 44,058 | [1] |
Other OTC Derivatives | 1,384 | [1] |
Off-balance sheet [Abstract] | ||
Loan Commitments | 40 | |
Other Commitments | 0 | |
Other | 0 | |
Total off-balance sheet | 40 | |
JPY LIBOR [Member] | ||
IBOR Transition [Line Items] | ||
Financial Assets IBOR | 523,593 | |
Non-derivative financial assets [Abstract] | ||
Bonds (FRN) | 0 | |
Securitizations | 0 | |
Syndicated loans | 1 | |
Repos / Other Secured Lending | 0 | |
Loans / Advances (Total Limit) | 58 | |
Retail / Commercial Mortgages | 0 | |
Other | 7 | |
Derivative financial assets [Abstract] | ||
Interest Rate Derivatives Exchange Traded | 0 | [1] |
Interest Rate Derivatives OTC | 521,581 | [1] |
Other OTC Derivatives | 1,946 | [1] |
Financial Liabilities IBOR | 502,571 | |
Non-Derivative Financial liabilities [Abstract] | ||
Bonds (FRN) | 0 | |
Repos / Other Secured Lending | 0 | |
Deposits | 0 | |
Other | 0 | |
Derivative Financial liabilities [Abstract] | ||
Interest Rate Derivatives Exchange Traded | 0 | [1] |
Interest Rate Derivatives OTC | 498,993 | [1] |
Other OTC Derivatives | 3,578 | [1] |
Off-balance sheet [Abstract] | ||
Loan Commitments | 95 | |
Other Commitments | 0 | |
Other | 0 | |
Total off-balance sheet | 95 | |
EONIA [Member] | ||
IBOR Transition [Line Items] | ||
Financial Assets IBOR | 9,578 | |
Non-derivative financial assets [Abstract] | ||
Bonds (FRN) | 0 | |
Securitizations | 0 | |
Syndicated loans | 0 | |
Repos / Other Secured Lending | 0 | |
Loans / Advances (Total Limit) | 363 | |
Retail / Commercial Mortgages | 0 | |
Other | 173 | |
Derivative financial assets [Abstract] | ||
Interest Rate Derivatives Exchange Traded | 0 | [1] |
Interest Rate Derivatives OTC | 9,042 | [1] |
Other OTC Derivatives | 0 | [1] |
Financial Liabilities IBOR | 7,840 | |
Non-Derivative Financial liabilities [Abstract] | ||
Bonds (FRN) | 0 | |
Repos / Other Secured Lending | 2 | |
Deposits | 664 | |
Other | 22 | |
Derivative Financial liabilities [Abstract] | ||
Interest Rate Derivatives Exchange Traded | 0 | [1] |
Interest Rate Derivatives OTC | 7,150 | [1] |
Other OTC Derivatives | 0 | [1] |
Off-balance sheet [Abstract] | ||
Loan Commitments | 1,954 | |
Other Commitments | 0 | |
Other | 9 | |
Total off-balance sheet | 1,963 | |
Other IBORs [Member] | ||
IBOR Transition [Line Items] | ||
Financial Assets IBOR | 40,971 | |
Non-derivative financial assets [Abstract] | ||
Bonds (FRN) | 0 | |
Securitizations | 0 | |
Syndicated loans | 71 | |
Repos / Other Secured Lending | 0 | |
Loans / Advances (Total Limit) | 398 | |
Retail / Commercial Mortgages | 0 | |
Other | 0 | |
Derivative financial assets [Abstract] | ||
Interest Rate Derivatives Exchange Traded | 0 | [1] |
Interest Rate Derivatives OTC | 40,493 | [1] |
Other OTC Derivatives | 10 | [1] |
Financial Liabilities IBOR | 38,650 | |
Non-Derivative Financial liabilities [Abstract] | ||
Bonds (FRN) | 0 | |
Repos / Other Secured Lending | 0 | |
Deposits | 0 | |
Other | 0 | |
Derivative Financial liabilities [Abstract] | ||
Interest Rate Derivatives Exchange Traded | 0 | [1] |
Interest Rate Derivatives OTC | 38,569 | [1] |
Other OTC Derivatives | 81 | [1] |
Off-balance sheet [Abstract] | ||
Loan Commitments | 33 | |
Other Commitments | 0 | |
Other | 0 | |
Total off-balance sheet | 33 | |
Multiple Basis [Member] | ||
IBOR Transition [Line Items] | ||
Financial Assets IBOR | 167,050 | [2] |
Non-derivative financial assets [Abstract] | ||
Bonds (FRN) | 0 | [2] |
Securitizations | 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 | 167,045 | [1],[2] |
Financial Liabilities IBOR | 144,217 | [2] |
Non-Derivative Financial liabilities [Abstract] | ||
Bonds (FRN) | 0 | [2] |
Repos / Other Secured Lending | 0 | |
Deposits | 0 | [2] |
Other | 0 | [2] |
Derivative Financial liabilities [Abstract] | ||
Interest Rate Derivatives Exchange Traded | 0 | [1],[2] |
Interest Rate Derivatives OTC | 2 | [1],[2] |
Other OTC Derivatives | 144,215 | [1],[2] |
Off-balance sheet [Abstract] | ||
Loan Commitments | 0 | [2] |
Other Commitments | 0 | |
Other | 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). |
Note 44 - IBOR Transition - Par
Note 44 - IBOR Transition - Parenthetical information (Detail: Text Values) € in Millions | Dec. 31, 2021EUR (€) |
IBOR Transition [Abstract] | |
Notional value of tough legacy contracts | € 1,150 |
Risk Report - Credit Risk Man_2
Risk Report - Credit Risk Management - IFRS 9 Breakdown Of COVID-19 Related Measures By Stages (Detail) - EUR (€) € in Millions | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Legislative and non-legislative moratoria [Member] | Gross Carrying Amount [Member] | ||
Breakdown of COVID-19 related measures by stages [Line Items] | ||
Stage 1 | € 5,381 | € 6,464 |
Stage 2 | 1,288 | 1,872 |
Stage 3 | 698 | 313 |
Total | 7,368 | 8,649 |
Legislative and non-legislative moratoria [Member] | Expected Credit Losses [Member] | ||
Breakdown of COVID-19 related measures by stages [Line Items] | ||
Stage 1 | (10) | (23) |
Stage 2 | (30) | (63) |
Stage 3 | (162) | (69) |
Total | (202) | (155) |
COVID-19 related forbearance measures [Member] | Gross Carrying Amount [Member] | ||
Breakdown of COVID-19 related measures by stages [Line Items] | ||
Stage 1 | 3,330 | 5,746 |
Stage 2 | 2,602 | 1,994 |
Stage 3 | 965 | 684 |
Total | 6,897 | 8,424 |
COVID-19 related forbearance measures [Member] | Expected Credit Losses [Member] | ||
Breakdown of COVID-19 related measures by stages [Line Items] | ||
Stage 1 | (6) | (18) |
Stage 2 | (31) | (54) |
Stage 3 | (122) | (80) |
Total | (158) | (152) |
Public guarantee schemes [Member] | Gross Carrying Amount [Member] | ||
Breakdown of COVID-19 related measures by stages [Line Items] | ||
Stage 1 | 3,079 | 3,135 |
Stage 2 | 770 | 360 |
Stage 3 | 103 | 51 |
Total | 3,952 | 3,546 |
Public guarantee schemes [Member] | Expected Credit Losses [Member] | ||
Breakdown of COVID-19 related measures by stages [Line Items] | ||
Stage 1 | (2) | (3) |
Stage 2 | (9) | (4) |
Stage 3 | (14) | (4) |
Total | € (25) | € (11) |
Risk Report - Credit Risk Man_3
Risk Report - Credit Risk Management - IFRS 9 Development of Overlays (Detail) - EUR (€) € in Millions | Dec. 31, 2021 | Dec. 31, 2020 |
CRM IFRS 9 Overlays Beginning Balance [Member] | ||
CRM IFRS 9 Development of overlays [Line items] | ||
3y averaging of specific MEVs on all financial assets in Stage 1 and 2 | € (104) | |
COVID-19 related downside risks on all financial assets in Stage 1 and 2 | 130 | |
Construction Risk following increased prices for building materials on Mortgage portfolios in Private Bank in Stage 1 and 2 | 0 | |
Model calibration (MEV outside calibrated range of the FLI model) on all financial assets in Stage 1 and 2 | 0 | |
Recalibrations required due to the new Definition of Default on Financial assets in Private Bank in Stage 3 | 0 | |
Overlays Total | € 26 | |
CRM IFRS 9 Discontinued overlays [Member] | ||
CRM IFRS 9 Development of overlays [Line items] | ||
3y averaging of specific MEVs on all financial assets in Stage 1 and 2 | € 104 | |
COVID-19 related downside risks on all financial assets in Stage 1 and 2 | (130) | |
Construction Risk following increased prices for building materials on Mortgage portfolios in Private Bank in Stage 1 and 2 | 0 | |
Model calibration (MEV outside calibrated range of the FLI model) on all financial assets in Stage 1 and 2 | 0 | |
Recalibrations required due to the new Definition of Default on Financial assets in Private Bank in Stage 3 | 0 | |
Overlays Total | (26) | |
CRM IFRS 9 New overlays [Member] | ||
CRM IFRS 9 Development of overlays [Line items] | ||
3y averaging of specific MEVs on all financial assets in Stage 1 and 2 | 0 | |
COVID-19 related downside risks on all financial assets in Stage 1 and 2 | 0 | |
Construction Risk following increased prices for building materials on Mortgage portfolios in Private Bank in Stage 1 and 2 | 15 | |
Model calibration (MEV outside calibrated range of the FLI model) on all financial assets in Stage 1 and 2 | 56 | |
Recalibrations required due to the new Definition of Default on Financial assets in Private Bank in Stage 3 | (57) | |
Overlays Total | 14 | |
CRM IFRS 9 Ending balance [Member] | ||
CRM IFRS 9 Development of overlays [Line items] | ||
3y averaging of specific MEVs on all financial assets in Stage 1 and 2 | 0 | |
COVID-19 related downside risks on all financial assets in Stage 1 and 2 | 0 | |
Construction Risk following increased prices for building materials on Mortgage portfolios in Private Bank in Stage 1 and 2 | 15 | |
Model calibration (MEV outside calibrated range of the FLI model) on all financial assets in Stage 1 and 2 | 56 | |
Recalibrations required due to the new Definition of Default on Financial assets in Private Bank in Stage 3 | (57) | |
Overlays Total | € 14 |
Risk Report - Credit Risk Man_4
Risk Report - Credit Risk Management - IFRS 9 Focus Industries in light of COVID-19 - Parenthetical information (Detail: Text Values) | 12 Months Ended | |
Dec. 31, 2021EUR (€) | Dec. 31, 2020EUR (€) | |
CRM IFRS 9 Focus Industries in light of COVID-19 Pandemic [Abstract] | ||
Share of Key focus sectors on loan books | 0.08 | |
Share of Key focus sectors on Stage 3 Credit loss provisions of the Group | 0.27 | |
Commercial Real Estate loan exposure | € 31,000,000,000 | € 27,000,000,000 |
Key focus sectors on loan books CRE | 0.07 | |
CRE Loan Exposure Group | € 19,000,000,000 | |
APAC CRE Loan Exposure Investment Bank | 6,000,000,000 | |
Non-recourse CRE business in the Corporate Bank | € 6,000,000,000 | |
Moderate loan-to-value ratios (LTVs) averaging | 0.59 | |
Retail Loan exposure | € 4,000,000,000 | 4,000,000,000 |
Aviation loan exposure | 3,000,000,000 | 3,000,000,000 |
Leisure loan exposure | € 2,000,000,000 | € 2,000,000,000 |
Risk Report - Credit Risk Man_5
Risk Report - Credit Risk Management - IFRS 9 Impaiment Forward-looking Information (Detail) - EUR (€) | 12 Months Ended | ||||
Dec. 31, 2021 | Dec. 31, 2020 | ||||
Year 1 (4 quarter avg) [Member] | |||||
Commodity [Abstract] | |||||
Commodity - Gold | [1],[2] | 1,764.58 | |||
Commodity - WTI | [1],[2] | 73.19 | |||
Credit [Abstract] | |||||
Credit - CDX Emerging Markets | [1],[2] | 231.80 | |||
Credit - CDX High Yield | [1],[2] | 353.42 | |||
Credit - CDX IG | [1],[2] | 59.53 | |||
Credit High Yield Index | [1],[2] | 3.95 | |||
Credit - ITX Europe 125 | 61.37 | [1],[2] | 52.81 | [3],[4] | |
Equity [Abstract] | |||||
Equity - MSCI Asia | [1],[2] | 1,543 | |||
Equity - Nikkei | [1],[2] | 29,673 | |||
Equity - S&P 500 | [1],[2] | 4,777 | |||
GDP [Abstract] | |||||
GDP - Developing Asia | [1],[2] | 3.78% | |||
GDP - Emerging Markets | [1],[2] | 3.72% | |||
GDP - Eurozone | 4.67% | [1],[2] | 1.38% | [3],[4] | |
GDP - Germany | 3.35% | [1],[2] | 1.54% | [3],[4] | |
GDP - Italy | 5.17% | [1],[2] | 1.92% | [3],[4] | |
GDP - USA | 4.46% | [1],[2] | 2.80% | [3],[4] | |
Real Estate Prices - US CRE Index | [1],[2] | 348.86 | |||
Unemployment [Abstract] | |||||
Unemployment - Eurozone | 7.41% | [1],[2] | 8.86% | [3],[4] | |
Unemployment - Germany | 3.13% | [1],[2] | 4.30% | [3],[4] | |
Unemployment - Italy | 9.18% | [1],[2] | 10.65% | [3],[4] | |
Unemployment - Japan | [1],[2] | 2.73% | |||
Unemployment - Spain | 14.26% | [1],[2] | 17.89% | [3],[4] | |
Unemployment - USA | 4.05% | [1],[2] | 6.40% | [3],[4] | |
FX - EUR/USD | [3],[4] | 1.20 | |||
Rate - US Treasury 2y | [3],[4] | 0.17% | |||
Year 2 (4 quarter avg) [Member] | |||||
Commodity [Abstract] | |||||
Commodity - Gold | [1],[2] | 1,696.51 | |||
Commodity - WTI | [1],[2] | 68.21 | |||
Credit [Abstract] | |||||
Credit - CDX Emerging Markets | [1],[2] | 268.64 | |||
Credit - CDX High Yield | [1],[2] | 399.62 | |||
Credit - CDX IG | [1],[2] | 63.98 | |||
Credit High Yield Index | [1],[2] | 4.46 | |||
Credit - ITX Europe 125 | [1],[2] | 69.93 | |||
Equity [Abstract] | |||||
Equity - MSCI Asia | [1],[2] | 1,514 | |||
Equity - Nikkei | [1],[2] | 30,764 | |||
Equity - S&P 500 | [1],[2] | 5,033 | |||
GDP [Abstract] | |||||
GDP - Developing Asia | [1],[2] | 6.26% | |||
GDP - Emerging Markets | [1],[2] | 5.38% | |||
GDP - Eurozone | 2.91% | [1],[2] | 4.37% | [3],[4] | |
GDP - Germany | 2.86% | [1],[2] | 4.01% | [3],[4] | |
GDP - Italy | 2.33% | [1],[2] | 3.80% | [3],[4] | |
GDP - USA | 2.79% | [1],[2] | 3.35% | [3],[4] | |
Real Estate Prices - US CRE Index | [1],[2] | 377.26 | |||
Unemployment [Abstract] | |||||
Unemployment - Eurozone | 7.07% | [1],[2] | 8.35% | [3],[4] | |
Unemployment - Germany | 2.83% | [1],[2] | 3.95% | [3],[4] | |
Unemployment - Italy | 8.92% | [1],[2] | 10.38% | [3],[4] | |
Unemployment - Japan | [1],[2] | 2.53% | |||
Unemployment - Spain | 13.66% | [1],[2] | 16.32% | [3],[4] | |
Unemployment - USA | 3.68% | [1],[2] | 5.19% | [3],[4] | |
Year 3 (4 quarter avg) [Member] | |||||
GDP [Abstract] | |||||
GDP - Eurozone | [3],[4] | 2.32% | |||
GDP - Germany | [3],[4] | 2.08% | |||
GDP - Italy | [3],[4] | 1.93% | |||
GDP - USA | [3],[4] | 2.29% | |||
Unemployment [Abstract] | |||||
Unemployment - Eurozone | [3],[4] | 7.94% | |||
Unemployment - Germany | [3],[4] | 3.72% | |||
Unemployment - Italy | [3],[4] | 9.85% | |||
Unemployment - Spain | [3],[4] | 15.49% | |||
Unemployment - USA | [3],[4] | 4.46% | |||
[1] | MEV as of 31 December 2021; MEV outside the calibrated range were adjusted either in the model or via a management overlay as discussed further below. | ||||
[2] | Year 1 equals fourth quarter of 2021 to third quarter of 2022, Year 2 equals fourth quarter of 2022 to third quarter of 2023. | ||||
[3] | Rates, FX and credit spreads as per December 7 release; GDP, unemployment forecasts updated per December 16. | ||||
[4] | Year 1 equals fourth quarter of 2020 to third quarter of 2021, Year 2 equals fourth quarter of 2021 to third quarter of 2022. |
Risk Report - Credit Risk Man_6
Risk Report - Credit Risk Management - IFRS 9 Impaiment Forward-looking Information - Parenthetical information (Detail: Text Values) | 12 Months Ended | |
Dec. 31, 2021EUR (€) | Dec. 31, 2020EUR (€) | |
CRM IFRS 9 Impairment Forward-looking information [Abstract] | ||
Process-related Stage 2 increase in allowance for credit losses [Text value] | € 60,000,000 | |
Refinement of its forward-looking information model increase in allowance for credit losses [text value] | 31,000,000 | |
Group Allowances for Credit Losses (in mn) [text value] | € 5,400,000,000 | |
Stage 2 Triggers: Stage 1 borrowers were to instantaneously move to Stage 2 (in %) [text value] | 0.44 | 0.41 |
Stage 3 LGD setting: allowance for credit losses in Stage 3 for the homogeneous portfolios [text value] | € 2,200,000,000 | € 1,900,000,000 |
Increase in LGD for homogeneous portfolios in % | 0.01 | |
Stage 3 LGD setting: LGD increase on Stage 3 ECL [text value] | € 20,000,000 |
Risk Report - Credit Risk Man_7
Risk Report - Credit Risk Management - IFRS 9 Overview of active and expired moratoria (Detail) - EUR (€) € in Millions | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | ||
Loans and advances subject to EBA-compliant moratoria [Member] | |||
IFRS 9 - Overview of active and expired moratoria [Line Items] | |||
Moratoria in Corporate Bank [text value] | € 519 | € 610 | |
Moratoria in Investment Bank [text value] | 108 | 107 | |
Moratoria in Private Bank [text value] | 6,357 | 7,499 | |
Moratoria in Capital Release Unit [text value] | 384 | 433 | |
Total Moratoria [text value] | 7,368 | 8,649 | |
Loans and advances subject to COVID-19-related forbearance measures [Member] | |||
IFRS 9 - Overview of active and expired moratoria [Line Items] | |||
Moratoria in Corporate Bank [text value] | 2,466 | 2,956 | |
Moratoria in Investment Bank [text value] | 3,501 | 4,353 | |
Moratoria in Private Bank [text value] | 928 | 1,114 | |
Moratoria in Capital Release Unit [text value] | 2 | 0 | |
Total Moratoria [text value] | 6,897 | 8,424 | |
Newly originated loans and advances subject to public guarantee schemes in the context of the COVID-19 crisis [Member] | |||
IFRS 9 - Overview of active and expired moratoria [Line Items] | |||
Moratoria in Corporate Bank [text value] | 2,322 | [1] | 2,362 |
Moratoria in Investment Bank [text value] | 60 | [1] | 60 |
Moratoria in Private Bank [text value] | 1,570 | [1] | 1,124 |
Moratoria in Capital Release Unit [text value] | 0 | [1] | 0 |
Total Moratoria [text value] | € 3,952 | [1] | € 3,546 |
[1] | Excluding € 0.3 billion € 0.3 billion |
Risk Report - Credit Risk Man_8
Risk Report - Credit Risk Management - IFRS 9 Overview of active and expired moratoria - Parenthetical information (Detail: Text values) | 12 Months Ended | |
Dec. 31, 2021EUR (€) | Dec. 31, 2020EUR (€) | |
IFRS 9 - Overview of active and expired moratoria [Abstract] | ||
Excluding exposures qualifying for derecognition [text value] | € 300,000,000 | € 300,000,000 |
Percentage of performing clients [text value] | 0.84 | |
Active moratoria [text value] | € 30,000,000 | |
Moratoria: Percentage of clients who have resumed payments [text value] | 0.95 | |
Newly originated loans and advances subject to a public guarantee scheme [text value] | € 4,200,000,000 | |
Newly originated loans and advances subject to a public guarantee scheme in Germany [text value] | 2,100,000,000 | |
Newly originated loans and advances subject to a public guarantee scheme in Spain [text value] | 1,600,000,000 | |
Newly originated loans and advances subject to a public guarantee scheme in Luxembourg [text value] | € 500,000,000 | |
Newly originated loans and advances subject to a public guarantee scheme: Percentage of clients who have resumed payments [text value] | 0.99 |
Risk Report - Credit Risk Man_9
Risk Report - Credit Risk Management - IFRS 9 Sensitivities on forward-looking information (Detail) - EUR (€) | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | ||
Upward Sensitivity [Member] | Upward Shift [Member] | Group [Member] | |||
IFRS 9 Sensitivities on forward-looking information [Line items] | |||
GDP Growth Rates in pp | 1 | 1 | |
Unemployment Rate in pp | (0.5) | (0.5) | |
Real estate prices in % | 5 | ||
Equities in % | 10 | ||
Credit spreads in % | (40) | ||
Commodities in % | [1] | 10 | |
Upward Sensitivity [Member] | Upward Shift [Member] | Corporate Bank [Member] | |||
IFRS 9 Sensitivities on forward-looking information [Line items] | |||
GDP Growth Rates in pp | 1 | ||
Unemployment Rate in pp | (0.5) | ||
Real estate prices in % | 5 | ||
Credit spreads in % | (40) | ||
Commodities in % | [2] | 10 | |
Upward Sensitivity [Member] | Upward Shift [Member] | Investment Bank [Member] | |||
IFRS 9 Sensitivities on forward-looking information [Line items] | |||
GDP Growth Rates in pp | 1 | ||
Unemployment Rate in pp | (0.5) | ||
Real estate prices in % | 5 | ||
Equities in % | 10 | ||
Credit spreads in % | (40) | ||
Commodities in % | [3] | 10 | |
Upward Sensitivity [Member] | Upward Shift [Member] | Private Bank [Member] | |||
IFRS 9 Sensitivities on forward-looking information [Line items] | |||
GDP Growth Rates in pp | 1 | ||
Unemployment Rate in pp | (0.5) | ||
Upward Sensitivity [Member] | ECL impact on upward shift [Member] | Group [Member] | |||
IFRS 9 Sensitivities on forward-looking information [Line items] | |||
GDP Growth Rates in mn | € (49,400,000) | € (93,500,000) | |
Unemployment Rates in mn | (23,800,000) | € (49,900,000) | |
Real estate prices in mn | (3,900,000) | ||
Equities in mn | (7,200,000) | ||
Credit spreads in mn | (20,900,000) | ||
Commodities in mn | [1] | (15,000,000) | |
Upward Sensitivity [Member] | ECL impact on upward shift [Member] | Corporate Bank [Member] | |||
IFRS 9 Sensitivities on forward-looking information [Line items] | |||
GDP Growth Rates in mn | (12,500,000) | ||
Unemployment Rates in mn | (8,900,000) | ||
Real estate prices in mn | (500,000) | ||
Credit spreads in mn | (4,300,000) | ||
Commodities in mn | [2] | (4,500,000) | |
Upward Sensitivity [Member] | ECL impact on upward shift [Member] | Investment Bank [Member] | |||
IFRS 9 Sensitivities on forward-looking information [Line items] | |||
GDP Growth Rates in mn | (24,500,000) | ||
Unemployment Rates in mn | (3,700,000) | ||
Real estate prices in mn | (3,400,000) | ||
Equities in mn | (2,400,000) | ||
Credit spreads in mn | (14,400,000) | ||
Commodities in mn | [3] | (10,100,000) | |
Upward Sensitivity [Member] | ECL impact on upward shift [Member] | Private Bank [Member] | |||
IFRS 9 Sensitivities on forward-looking information [Line items] | |||
GDP Growth Rates in mn | (10,000,000) | ||
Unemployment Rates in mn | € (9,700,000) | ||
Downward Sensitivity [Member] | Downward shift [Member] | Group [Member] | |||
IFRS 9 Sensitivities on forward-looking information [Line items] | |||
GDP Growth Rates in pp | (1) | (1) | |
Unemployment Rate in pp | 0.5 | 0.5 | |
Real estate prices in % | (5) | ||
Equities in % | (10) | ||
Credit spreads in % | 40 | ||
Commodities in % | [1] | (10) | |
Downward Sensitivity [Member] | Downward shift [Member] | Corporate Bank [Member] | |||
IFRS 9 Sensitivities on forward-looking information [Line items] | |||
GDP Growth Rates in pp | (1) | ||
Unemployment Rate in pp | 0.5 | ||
Real estate prices in % | (5) | ||
Credit spreads in % | 40 | ||
Commodities in % | [2] | (10) | |
Downward Sensitivity [Member] | Downward shift [Member] | Investment Bank [Member] | |||
IFRS 9 Sensitivities on forward-looking information [Line items] | |||
GDP Growth Rates in pp | (1) | ||
Unemployment Rate in pp | 0.5 | ||
Real estate prices in % | (5) | ||
Equities in % | (10) | ||
Credit spreads in % | 40 | ||
Commodities in % | [3] | (10) | |
Downward Sensitivity [Member] | Downward shift [Member] | Private Bank [Member] | |||
IFRS 9 Sensitivities on forward-looking information [Line items] | |||
GDP Growth Rates in pp | (1) | ||
Unemployment Rate in pp | 0.5 | ||
Downward Sensitivity [Member] | ECL impact on downward shift [Member] | Group [Member] | |||
IFRS 9 Sensitivities on forward-looking information [Line items] | |||
GDP Growth Rates in mn | € 55,500,000 | € 99,100,000 | |
Unemployment Rates in mn | 25,400,000 | € 56,400,000 | |
Real estate prices in mn | 4,200,000 | ||
Equities in mn | 9,400,000 | ||
Credit spreads in mn | 23,500,000 | ||
Commodities in mn | [1] | 16,200,000 | |
Downward Sensitivity [Member] | ECL impact on downward shift [Member] | Corporate Bank [Member] | |||
IFRS 9 Sensitivities on forward-looking information [Line items] | |||
GDP Growth Rates in mn | 13,700,000 | ||
Unemployment Rates in mn | 9,600,000 | ||
Real estate prices in mn | 500,000 | ||
Credit spreads in mn | 4,900,000 | ||
Commodities in mn | [2] | 5,000,000 | |
Downward Sensitivity [Member] | ECL impact on downward shift [Member] | Investment Bank [Member] | |||
IFRS 9 Sensitivities on forward-looking information [Line items] | |||
GDP Growth Rates in mn | 27,700,000 | ||
Unemployment Rates in mn | 4,200,000 | ||
Real estate prices in mn | 3,600,000 | ||
Equities in mn | 3,100,000 | ||
Credit spreads in mn | 15,800,000 | ||
Commodities in mn | [3] | 10,800,000 | |
Downward Sensitivity [Member] | ECL impact on downward shift [Member] | Private Bank [Member] | |||
IFRS 9 Sensitivities on forward-looking information [Line items] | |||
GDP Growth Rates in mn | 10,700,000 | ||
Unemployment Rates in mn | € 9,800,000 | ||
[1] | Here the sign of the shift applies to oil prices changes. Gold price changes have the opposite sign. 1pp (percentage point), e.g. GDP shifts from 3 % to 4 % // 1 % (percentage change), e.g. Real estate price shifts from 100 to 101. | ||
[2] | Here the sign of the shift applies to oil prices changes. Gold price changes have the opposite sign. | ||
[3] | Here the sign of the shift applies to oil prices changes. Gold price changes have the opposite sign. |
Risk Report - Credit Risk Exp_2
Risk Report - Credit Risk Exposure - Maximum Exposure to Credit Risk (Detail) - EUR (€) € in Millions | Dec. 31, 2021 | Dec. 31, 2020 | |||
Maximum exposure to credit risk [Member] | |||||
Financial assets at amortized cost [Abstract] | |||||
Cash and central bank balances | € 192,025 | [1] | € 166,211 | [2] | |
Interbank balances (w/o central banks) | 7,345 | [1] | 9,132 | [2] | |
Central bank funds sold and securities purchased under resale agreements | 8,370 | [1] | 8,535 | [2] | |
Securities borrowed | 63 | [1] | 0 | ||
Loans | 476,827 | [1] | 431,503 | ||
Other assets subject to credit risk | [3] | 83,313 | 96,355 | [2],[4],[5],[6] | |
Total financial assets at amortized cost | [7] | 767,942 | [1] | 711,736 | [2],[8] |
Trading assets | 97,080 | [1] | 94,757 | [2],[9] | |
Positive market values from derivative financial instruments | 299,732 | 343,493 | [9] | ||
Non-trading financial assets mandatory at fair value through profit or loss | 87,873 | [1] | 75,116 | [2],[9] | |
Of which: [Abstract] | |||||
Securities purchased under resale agreement | 59,931 | [1] | 46,057 | ||
Securities borrowed | 18,355 | [1] | 17,009 | ||
Loans | 895 | [1] | 2,192 | ||
Financial assets designated at fair value through profit or loss | 140 | [1] | 437 | [2],[9] | |
Total financial assets at fair value through profit or loss | [10] | 484,825 | [1] | 513,803 | [2],[9] |
Financial assets at fair value through other comprehensive income | 28,979 | [1] | 55,834 | ||
Of which: [Abstract] | |||||
Securities purchased under resale agreement | 1,231 | [1] | 1,543 | ||
Securities borrowed | 0 | [1] | 0 | ||
Loans | 4,370 | [1] | 4,635 | ||
Financial guarantees and other credit related contingent liabilities | [11] | 59,394 | [1] | 47,978 | |
Revocable and irrevocable lending commitments and other credit related commitments | [11] | 227,132 | [1] | 215,877 | [12] |
Total off-balance sheet | 286,525 | [1] | 263,855 | ||
Maximum exposure to credit risk | 1,568,272 | [1] | 1,545,228 | ||
Subject to Impairment [Member] | |||||
Financial assets at amortized cost [Abstract] | |||||
Cash and central bank balances | 192,025 | 166,211 | |||
Interbank balances (w/o central banks) | 7,345 | 9,132 | |||
Central bank funds sold and securities purchased under resale agreements | 8,370 | 8,535 | |||
Securities borrowed | 63 | 0 | |||
Loans | 476,827 | 431,503 | |||
Other assets subject to credit risk | [3] | 79,361 | 85,106 | [4],[5],[6] | |
Total financial assets at amortized cost | [7] | 763,990 | 700,487 | ||
Of which: [Abstract] | |||||
Financial assets at fair value through other comprehensive income | 28,979 | 55,834 | |||
Of which: [Abstract] | |||||
Securities purchased under resale agreement | 1,231 | 1,543 | |||
Securities borrowed | 0 | 0 | |||
Loans | 4,370 | 4,635 | |||
Financial guarantees and other credit related contingent liabilities | 59,394 | 47,978 | [11] | ||
Revocable and irrevocable lending commitments and other credit related commitments | 226,454 | 214,898 | [11] | ||
Total off-balance sheet | 285,848 | [11] | 262,876 | ||
Maximum exposure to credit risk | 1,078,817 | 1,019,197 | |||
Netting [Member] | |||||
Financial assets at amortized cost [Abstract] | |||||
Other assets subject to credit risk | [3] | 30,639 | 43,277 | [4],[5],[6] | |
Total financial assets at amortized cost | 30,639 | 43,277 | [7] | ||
Positive market values from derivative financial instruments | 238,412 | 262,525 | [9] | ||
Non-trading financial assets mandatory at fair value through profit or loss | 2,176 | 993 | [9] | ||
Of which: [Abstract] | |||||
Securities purchased under resale agreement | 2,176 | 993 | |||
Total financial assets at fair value through profit or loss | 240,588 | 263,518 | [9],[10] | ||
Financial assets at fair value through other comprehensive income | 0 | ||||
Of which: [Abstract] | |||||
Maximum exposure to credit risk | 271,227 | 306,795 | |||
Collateral [Member] | |||||
Financial assets at amortized cost [Abstract] | |||||
Cash and central bank balances | 0 | ||||
Interbank balances (w/o central banks) | 0 | ||||
Central bank funds sold and securities purchased under resale agreements | 8,070 | 8,173 | |||
Securities borrowed | 63 | 0 | |||
Loans | 247,109 | 228,513 | |||
Other assets subject to credit risk | [3] | 709 | 902 | [4],[5],[6] | |
Total financial assets at amortized cost | [7] | 255,951 | 237,588 | ||
Trading assets | 2,217 | 2,998 | [9] | ||
Positive market values from derivative financial instruments | 41,692 | 52,329 | [9] | ||
Non-trading financial assets mandatory at fair value through profit or loss | 75,960 | 62,036 | [9] | ||
Of which: [Abstract] | |||||
Securities purchased under resale agreement | 57,755 | 44,967 | |||
Securities borrowed | 17,978 | 16,730 | |||
Loans | 190 | 272 | [9] | ||
Financial assets designated at fair value through profit or loss | [9] | 0 | |||
Total financial assets at fair value through profit or loss | 119,869 | 117,363 | [9],[10] | ||
Financial assets at fair value through other comprehensive income | 1,480 | 1,581 | |||
Of which: [Abstract] | |||||
Securities purchased under resale agreement | 0 | 0 | |||
Securities borrowed | 0 | ||||
Loans | 1,480 | 1,581 | |||
Financial guarantees and other credit related contingent liabilities | 3,077 | 2,327 | [11] | ||
Revocable and irrevocable lending commitments and other credit related commitments | 18,545 | 15,345 | [11] | ||
Total off-balance sheet | 21,622 | [11] | 17,672 | ||
Maximum exposure to credit risk | 398,922 | 374,204 | |||
Guarantees and Credit derivatives [Member] | |||||
Financial assets at amortized cost [Abstract] | |||||
Interbank balances (w/o central banks) | [13],[14] | 0 | |||
Loans | [13] | 33,353 | 30,119 | [14] | |
Other assets subject to credit risk | [3] | 206 | 55 | [4],[5],[6],[13],[14] | |
Total financial assets at amortized cost | [7],[13] | 33,559 | 30,174 | [8],[14] | |
Trading assets | [13] | 1,091 | 1,248 | [9],[14] | |
Positive market values from derivative financial instruments | 37 | 83 | [9],[14] | ||
Non-trading financial assets mandatory at fair value through profit or loss | [13] | 187 | 244 | [9],[14] | |
Of which: [Abstract] | |||||
Securities purchased under resale agreement | [9],[13],[14] | 0 | |||
Securities borrowed | [9],[13],[14] | 0 | |||
Loans | 187 | 244 | [9],[13],[14] | ||
Financial assets designated at fair value through profit or loss | 82 | 0 | [9],[13],[14] | ||
Total financial assets at fair value through profit or loss | 1,398 | 1,575 | [10],[13],[14] | ||
Financial assets at fair value through other comprehensive income | 891 | [10] | 1,153 | [9],[14] | |
Of which: [Abstract] | |||||
Securities purchased under resale agreement | [14] | 0 | |||
Securities borrowed | [14] | 0 | |||
Loans | 891 | 1,153 | [14] | ||
Financial guarantees and other credit related contingent liabilities | 6,857 | 6,157 | [11],[14] | ||
Revocable and irrevocable lending commitments and other credit related commitments | [11] | 5,888 | 5,779 | [14] | |
Total off-balance sheet | 12,746 | [11] | 11,936 | [12],[14] | |
Maximum exposure to credit risk | 48,593 | 44,838 | [14] | ||
Total credit enhancements [Member] | |||||
Financial assets at amortized cost [Abstract] | |||||
Cash and central bank balances | 0 | ||||
Interbank balances (w/o central banks) | 0 | ||||
Central bank funds sold and securities purchased under resale agreements | 8,070 | 8,173 | |||
Securities borrowed | 63 | 0 | |||
Loans | 280,462 | 258,632 | |||
Other assets subject to credit risk | [3] | 31,555 | 44,234 | [4],[5],[6] | |
Total financial assets at amortized cost | [7] | 320,149 | 311,039 | ||
Trading assets | 3,308 | 4,246 | [9] | ||
Positive market values from derivative financial instruments | 280,140 | 314,937 | [9] | ||
Non-trading financial assets mandatory at fair value through profit or loss | 78,324 | 63,273 | [9] | ||
Of which: [Abstract] | |||||
Securities purchased under resale agreement | 59,931 | 45,960 | |||
Securities borrowed | 17,978 | 16,730 | |||
Loans | 378 | 516 | |||
Financial assets designated at fair value through profit or loss | 82 | 0 | [9] | ||
Total financial assets at fair value through profit or loss | 361,854 | 382,456 | [9],[10] | ||
Financial assets at fair value through other comprehensive income | 2,371 | 2,734 | |||
Of which: [Abstract] | |||||
Securities purchased under resale agreement | 0 | 0 | |||
Securities borrowed | 0 | 0 | |||
Loans | 2,371 | 2,734 | |||
Financial guarantees and other credit related contingent liabilities | 9,934 | 8,484 | [11] | ||
Revocable and irrevocable lending commitments and other credit related commitments | 24,433 | 21,124 | [11] | ||
Total off-balance sheet | 34,368 | [11] | 29,608 | ||
Maximum exposure to credit risk | € 718,742 | € 725,837 | |||
[1] | Does not include credit derivative notional sold ( € 491,407 million | ||||
[2] | Does not include credit derivative notional sold ( € 395,636 million | ||||
[3] | Includes Asset Held for Sale regardless of accounting classification. | ||||
[4] | All amounts at amortized cost (gross) except for qualifying hedge derivatives, which are reflected at Fair value through P&L | ||||
[5] | All amounts at amortized cost (gross) except for qualifying hedge derivatives, which are reflected at Fair value through P&L. | ||||
[6] | Includes Asset Held for Sale regardless of accounting classification. | ||||
[7] | All amounts at gross value before deductions of allowance for credit losses. | ||||
[8] | All amounts at gross value before deductions of allowance for credit losses. | ||||
[9] | Excludes equities, other equity interests and commodities. | ||||
[10] | Excludes equities, other equity interests and commodities. | ||||
[11] | Figures are reflected at notional amounts. | ||||
[12] | Figures are reflected at notional amounts. | ||||
[13] | Bought Credit protection is reflected with the notional of the underlying | ||||
[14] | Bought Credit protection is reflected with the notional of the underlying. |
Risk Report - Credit Risk Exp_3
Risk Report - Credit Risk Exposure - Parenthetical Information Credit Exposure (Detail:Text Values) - EUR (€) € in Millions | Dec. 31, 2021 | Dec. 31, 2020 |
Credit Exposure [Abstract] | ||
Credit derivative notional sold and credit derivative notional bought protection, not included in Maximum exposure to credit risk | € 491,407 | € 395,636 |
Traded bonds included in "Trading assets" | € 85,500 | € 83,500 |
Of which: [Abstract] | ||
Investment-Grade in % (more than) | 83.00% | 84.00% |
Stage 3 and stage 3 POCI loans at amortized cost | € 12,400 | € 11,900 |
Stage 3 and stage 3 POCI loans at fair value through OCI | 28.1 | 90.3 |
Stage 3 and stage 3 POCI off-balance sheet exposure | 2,600 | 2,600 |
Stage 3 and stage 3 POCI debt securities at amortized cost | 368.2 | 360.4 |
Stage 3 and stage 3 POCI debt securities at fair value through OCI | € 15.8 | € 15.1 |
Risk Report - Credit Risk Exp_4
Risk Report - Credit Risk Exposure - Credit Risk Profile by Industry Sector (Detail) - EUR (€) € in Millions | Dec. 31, 2021 | Dec. 31, 2020 | |||
Total | Credit Risk Profile [Domain Member] | |||||
Credit Risk Profile by Industry Sector [Line Items] | |||||
Agriculture, forestry and fishing | € 1,291 | € 1,230 | |||
Mining and quarrying | 10,529 | 10,053 | |||
Manufacturing | 106,960 | 96,788 | |||
Electricity, gas, steam and air conditioning supply | 13,669 | 11,679 | |||
Water supply, sewerage, waste management and remediation activities | 1,429 | 1,354 | |||
Construction | 11,086 | 10,944 | |||
Wholesale and retail trade, repair of motor vehicles and motorcycles | 46,589 | 43,548 | |||
Transport and storage | 14,452 | 14,351 | |||
Accommodation and food service activities | 3,814 | 3,964 | |||
Information and communication | 26,137 | 23,756 | |||
Financial and insurance activities | 326,701 | 287,672 | |||
Real estate activities | 53,650 | 48,924 | |||
Professional, scientific and technical activities | 14,860 | 15,091 | |||
Administrative and support service activities | 17,103 | 15,367 | |||
Public administration and defense, compulsory social security | 104,203 | 125,374 | |||
Education | 942 | 945 | |||
Human health services and social work activities | 6,417 | 6,987 | |||
Arts, entertainment and recreation | 3,241 | 2,258 | |||
Other service activities | 13,849 | 15,580 | |||
Activities of households as employers, undifferentiated goods- and services-producing activities of households for own use | 244,683 | 236,923 | |||
Activities of extraterritorial organizations and bodies | 2,032 | 1,873 | |||
Total | 1,023,637 | 974,661 | |||
Loans [Member] | at amortized cost [Member] | |||||
Credit Risk Profile by Industry Sector [Line Items] | |||||
Agriculture, forestry and fishing | 645 | [1] | 637 | [2] | |
Mining and quarrying | 2,783 | [1] | 2,871 | [2] | |
Manufacturing | 35,404 | [1] | 26,050 | [2] | |
Electricity, gas, steam and air conditioning supply | 4,548 | [1] | 3,419 | [2] | |
Water supply, sewerage, waste management and remediation activities | 681 | [1] | 681 | [2] | |
Construction | 4,374 | [1] | 4,440 | [2] | |
Wholesale and retail trade, repair of motor vehicles and motorcycles | 21,285 | [1] | 20,697 | [2] | |
Transport and storage | 5,330 | [1] | 5,575 | [2] | |
Accommodation and food service activities | 2,259 | [1] | 2,427 | [2] | |
Information and communication | 6,363 | [1] | 5,525 | [2] | |
Financial and insurance activities | 106,343 | [1] | 84,724 | [2] | |
Real estate activities | 40,629 | [1] | 36,571 | [2] | |
Professional, scientific and technical activities | 6,959 | [1] | 7,707 | [2] | |
Administrative and support service activities | 9,759 | [1] | 9,112 | [2] | |
Public administration and defense, compulsory social security | 6,183 | [1] | 6,139 | [2] | |
Education | 225 | [1] | 205 | [2] | |
Human health services and social work activities | 3,869 | [1] | 3,436 | [2] | |
Arts, entertainment and recreation | 1,062 | [1] | 929 | [2] | |
Other service activities | 4,941 | [1] | 5,353 | [2] | |
Activities of households as employers, undifferentiated goods- and services-producing activities of households for own use | 213,184 | [1] | 205,004 | [2] | |
Activities of extraterritorial organizations and bodies | 1 | [1] | 1 | [2] | |
Total | 476,827 | [1] | 431,503 | [2] | |
Loans [Member] | at fair value through P/L [Member] | |||||
Credit Risk Profile by Industry Sector [Line Items] | |||||
Agriculture, forestry and fishing | 2 | 0 | |||
Mining and quarrying | 190 | 250 | |||
Manufacturing | 348 | 525 | |||
Electricity, gas, steam and air conditioning supply | 226 | 295 | |||
Water supply, sewerage, waste management and remediation activities | 0 | 0 | |||
Construction | 234 | 243 | |||
Wholesale and retail trade, repair of motor vehicles and motorcycles | 196 | 330 | |||
Transport and storage | 334 | 427 | |||
Accommodation and food service activities | 5 | 60 | |||
Information and communication | 286 | 308 | |||
Financial and insurance activities | 3,219 | 2,860 | |||
Real estate activities | 2,478 | 989 | |||
Professional, scientific and technical activities | 63 | 228 | |||
Administrative and support service activities | 472 | 333 | |||
Public administration and defense, compulsory social security | 757 | 828 | |||
Education | 0 | 0 | |||
Human health services and social work activities | 111 | 68 | |||
Arts, entertainment and recreation | 6 | 22 | |||
Other service activities | 262 | 551 | |||
Activities of households as employers, undifferentiated goods- and services-producing activities of households for own use | 0 | 22 | |||
Activities of extraterritorial organizations and bodies | 0 | 0 | |||
Total | 9,189 | 8,339 | |||
Loans [Member] | Designated / mandatory at fair value through P/L [Member] | |||||
Credit Risk Profile by Industry Sector [Line Items] | |||||
Agriculture, forestry and fishing | 0 | 0 | |||
Mining and quarrying | 0 | 8 | |||
Manufacturing | 26 | 354 | |||
Electricity, gas, steam and air conditioning supply | 46 | 51 | |||
Water supply, sewerage, waste management and remediation activities | 0 | 0 | |||
Construction | 2 | 2 | |||
Wholesale and retail trade, repair of motor vehicles and motorcycles | 34 | 83 | |||
Transport and storage | 87 | 69 | |||
Accommodation and food service activities | 0 | 0 | |||
Information and communication | 80 | 3 | |||
Financial and insurance activities | 578 | 1,823 | |||
Real estate activities | 30 | 46 | |||
Professional, scientific and technical activities | 0 | 0 | |||
Administrative and support service activities | 71 | 66 | |||
Public administration and defense, compulsory social security | 12 | 13 | |||
Education | 0 | 0 | |||
Human health services and social work activities | 25 | 26 | |||
Arts, entertainment and recreation | 0 | 0 | |||
Other service activities | 44 | 84 | |||
Activities of households as employers, undifferentiated goods- and services-producing activities of households for own use | 0 | 0 | |||
Activities of extraterritorial organizations and bodies | 0 | 0 | |||
Total | 1,035 | 2,629 | |||
Loans [Member] | at fair value through OCI [Member] | |||||
Credit Risk Profile by Industry Sector [Line Items] | |||||
Agriculture, forestry and fishing | 0 | [3] | 0 | [4] | |
Mining and quarrying | 33 | [3] | 15 | [4] | |
Manufacturing | 1,042 | [3] | 1,111 | [4] | |
Electricity, gas, steam and air conditioning supply | 0 | [3] | 0 | [4] | |
Water supply, sewerage, waste management and remediation activities | 0 | [3] | 0 | [4] | |
Construction | 40 | [3] | 22 | [4] | |
Wholesale and retail trade, repair of motor vehicles and motorcycles | 930 | [3] | 913 | [4] | |
Transport and storage | 316 | [3] | 312 | [4] | |
Accommodation and food service activities | 8 | [3] | 27 | [4] | |
Information and communication | 658 | [3] | 404 | [4] | |
Financial and insurance activities | 1,099 | [3] | 813 | [4] | |
Real estate activities | 83 | [3] | 339 | [4] | |
Professional, scientific and technical activities | 0 | [3] | 12 | [4] | |
Administrative and support service activities | 22 | [3] | 56 | [4] | |
Public administration and defense, compulsory social security | 124 | [3] | 433 | [4] | |
Education | 0 | [3] | 0 | [4] | |
Human health services and social work activities | 0 | [3] | 0 | [4] | |
Arts, entertainment and recreation | 0 | [3] | 0 | [4] | |
Other service activities | 14 | [3] | 177 | [4] | |
Activities of households as employers, undifferentiated goods- and services-producing activities of households for own use | 1 | [3] | 2 | [4] | |
Activities of extraterritorial organizations and bodies | 0 | [3] | 0 | [4] | |
Total | 4,370 | [3] | 4,635 | [4] | |
Off-balance sheet [Member] | Revocable and irrevocable lending commitments [Member] | |||||
Credit Risk Profile by Industry Sector [Line Items] | |||||
Agriculture, forestry and fishing | 593 | [5] | 544 | [6] | |
Mining and quarrying | 5,220 | [5] | 5,148 | [6] | |
Manufacturing | 51,706 | [5] | 52,722 | [6] | |
Electricity, gas, steam and air conditioning supply | 5,068 | [5] | 5,080 | [6] | |
Water supply, sewerage, waste management and remediation activities | 484 | [5] | 396 | [6] | |
Construction | 2,939 | [5] | 2,672 | [6] | |
Wholesale and retail trade, repair of motor vehicles and motorcycles | 16,368 | [5] | 15,672 | [6] | |
Transport and storage | 5,729 | [5] | 5,235 | [6] | |
Accommodation and food service activities | 1,308 | [5] | 1,203 | [6] | |
Information and communication | 13,837 | [5] | 14,030 | [6] | |
Financial and insurance activities | 65,114 | [5] | 56,024 | [6] | |
Real estate activities | 6,486 | [5] | 5,776 | [6] | |
Professional, scientific and technical activities | 5,245 | [5] | 4,919 | [6] | |
Administrative and support service activities | 5,114 | [5] | 4,266 | [6] | |
Public administration and defense, compulsory social security | 2,519 | [5] | 2,983 | [6] | |
Education | 132 | [5] | 126 | [6] | |
Human health services and social work activities | 1,646 | [5] | 2,373 | [6] | |
Arts, entertainment and recreation | 1,899 | [5] | 1,105 | [6] | |
Other service activities | 4,790 | [5] | 4,305 | [6] | |
Activities of households as employers, undifferentiated goods- and services-producing activities of households for own use | 30,934 | [5] | 31,298 | [6] | |
Activities of extraterritorial organizations and bodies | 0 | [5] | 0 | [6] | |
Total | 227,132 | [5] | 215,877 | [6] | |
Off-balance sheet [Member] | Contingent liabilities [Member] | |||||
Credit Risk Profile by Industry Sector [Line Items] | |||||
Agriculture, forestry and fishing | 36 | 40 | |||
Mining and quarrying | 1,893 | 1,370 | |||
Manufacturing | 11,612 | 10,314 | |||
Electricity, gas, steam and air conditioning supply | 2,807 | 1,783 | |||
Water supply, sewerage, waste management and remediation activities | 175 | 156 | |||
Construction | 2,714 | 2,490 | |||
Wholesale and retail trade, repair of motor vehicles and motorcycles | 7,135 | 5,025 | |||
Transport and storage | 947 | 978 | |||
Accommodation and food service activities | 136 | 158 | |||
Information and communication | 2,896 | 2,072 | |||
Financial and insurance activities | 24,361 | 19,467 | |||
Real estate activities | 208 | 312 | |||
Professional, scientific and technical activities | 2,147 | 1,915 | |||
Administrative and support service activities | 816 | 453 | |||
Public administration and defense, compulsory social security | 105 | 93 | |||
Education | 56 | 14 | |||
Human health services and social work activities | 141 | 127 | |||
Arts, entertainment and recreation | 88 | 59 | |||
Other service activities | 810 | 877 | |||
Activities of households as employers, undifferentiated goods- and services-producing activities of households for own use | 311 | 272 | |||
Activities of extraterritorial organizations and bodies | 2 | 2 | |||
Total | 59,394 | 47,978 | |||
OTC derivatives [Member] | at fair value through P/L [Member] | |||||
Credit Risk Profile by Industry Sector [Line Items] | |||||
Agriculture, forestry and fishing | [7] | 3 | 3 | [8] | |
Mining and quarrying | [7] | 32 | 34 | [8] | |
Manufacturing | [7] | 5,034 | 4,677 | [8] | |
Electricity, gas, steam and air conditioning supply | [7] | 360 | 614 | [8] | |
Water supply, sewerage, waste management and remediation activities | [7] | 67 | 80 | [8] | |
Construction | [7] | 256 | 438 | [8] | |
Wholesale and retail trade, repair of motor vehicles and motorcycles | [7] | 298 | 614 | [8] | |
Transport and storage | [7] | 515 | 715 | [8] | |
Accommodation and food service activities | [7] | 7 | 27 | [8] | |
Information and communication | [7] | 924 | 887 | [8] | |
Financial and insurance activities | [7] | 13,369 | 18,042 | [8] | |
Real estate activities | [7] | 822 | 1,401 | [8] | |
Professional, scientific and technical activities | [7] | 85 | 147 | [8] | |
Administrative and support service activities | [7] | 496 | 672 | [8] | |
Public administration and defense, compulsory social security | [7] | 1,037 | 3,094 | [8] | |
Education | [7] | 255 | 459 | [8] | |
Human health services and social work activities | [7] | 157 | 484 | [8] | |
Arts, entertainment and recreation | [7] | 56 | 30 | [8] | |
Other service activities | [7] | 91 | 131 | [8] | |
Activities of households as employers, undifferentiated goods- and services-producing activities of households for own use | [7] | 253 | 325 | [8] | |
Activities of extraterritorial organizations and bodies | [7] | 31 | 54 | [8] | |
Total | [7] | 24,146 | 32,928 | [8] | |
Debt securities [Member] | at amortized cost [Member] | |||||
Credit Risk Profile by Industry Sector [Line Items] | |||||
Agriculture, forestry and fishing | 0 | [9] | 0 | [10] | |
Mining and quarrying | 4 | [9] | 0 | [10] | |
Manufacturing | 4 | [9] | 0 | [10] | |
Electricity, gas, steam and air conditioning supply | 15 | [9] | 0 | [10] | |
Water supply, sewerage, waste management and remediation activities | 0 | [9] | 0 | [10] | |
Construction | 60 | [9] | 0 | [10] | |
Wholesale and retail trade, repair of motor vehicles and motorcycles | 6 | [9] | 0 | [10] | |
Transport and storage | 306 | [9] | 203 | [10] | |
Accommodation and food service activities | 0 | [9] | 0 | [10] | |
Information and communication | 78 | [9] | 8 | [10] | |
Financial and insurance activities | 3,542 | [9] | 3,167 | [10] | |
Real estate activities | 381 | [9] | 333 | [10] | |
Professional, scientific and technical activities | 28 | [9] | 25 | [10] | |
Administrative and support service activities | 27 | [9] | 36 | [10] | |
Public administration and defense, compulsory social security | 10,185 | [9] | 8,670 | [10] | |
Education | 0 | [9] | 0 | [10] | |
Human health services and social work activities | 0 | [9] | 0 | [10] | |
Arts, entertainment and recreation | 0 | [9] | 31 | [10] | |
Other service activities | 174 | [9] | 110 | [10] | |
Activities of households as employers, undifferentiated goods- and services-producing activities of households for own use | 0 | [9] | 0 | [10] | |
Activities of extraterritorial organizations and bodies | 40 | [9] | 40 | [10] | |
Total | 14,849 | [9] | 12,625 | [10] | |
Debt securities [Member] | at fair value through P/L [Member] | |||||
Credit Risk Profile by Industry Sector [Line Items] | |||||
Agriculture, forestry and fishing | 12 | 6 | |||
Mining and quarrying | 371 | 354 | |||
Manufacturing | 1,746 | 995 | |||
Electricity, gas, steam and air conditioning supply | 601 | 437 | |||
Water supply, sewerage, waste management and remediation activities | 22 | 40 | |||
Construction | 456 | 565 | |||
Wholesale and retail trade, repair of motor vehicles and motorcycles | 335 | 213 | |||
Transport and storage | 888 | 811 | |||
Accommodation and food service activities | 91 | 63 | |||
Information and communication | 1,007 | 514 | |||
Financial and insurance activities | 18,588 | 20,866 | |||
Real estate activities | 2,405 | 3,047 | |||
Professional, scientific and technical activities | 176 | 105 | |||
Administrative and support service activities | 323 | 270 | |||
Public administration and defense, compulsory social security | 63,108 | 61,459 | |||
Education | 275 | 120 | |||
Human health services and social work activities | 468 | 473 | |||
Arts, entertainment and recreation | 131 | 83 | |||
Other service activities | 2,693 | 3,654 | |||
Activities of households as employers, undifferentiated goods- and services-producing activities of households for own use | 0 | 0 | |||
Activities of extraterritorial organizations and bodies | 1,671 | 1,272 | |||
Total | 95,367 | 95,347 | |||
Debt securities [Member] | at fair value through OCI [Member] | |||||
Credit Risk Profile by Industry Sector [Line Items] | |||||
Agriculture, forestry and fishing | 0 | [11] | 0 | [12] | |
Mining and quarrying | 2 | [11] | 2 | [12] | |
Manufacturing | 37 | [11] | 39 | [12] | |
Electricity, gas, steam and air conditioning supply | 1 | [11] | 1 | [12] | |
Water supply, sewerage, waste management and remediation activities | 0 | [11] | 0 | [12] | |
Construction | 10 | [11] | 70 | [12] | |
Wholesale and retail trade, repair of motor vehicles and motorcycles | 2 | [11] | 2 | [12] | |
Transport and storage | 1 | [11] | 26 | [12] | |
Accommodation and food service activities | 0 | [11] | 0 | [12] | |
Information and communication | 9 | [11] | 5 | [12] | |
Financial and insurance activities | 4,511 | [11] | 8,114 | [12] | |
Real estate activities | 129 | [11] | 109 | [12] | |
Professional, scientific and technical activities | 157 | [11] | 25 | [12] | |
Administrative and support service activities | 3 | [11] | 3 | [12] | |
Public administration and defense, compulsory social security | 18,216 | [11] | 40,574 | [12] | |
Education | 0 | [11] | 21 | [12] | |
Human health services and social work activities | 0 | [11] | 0 | [12] | |
Arts, entertainment and recreation | 0 | [11] | 0 | [12] | |
Other service activities | 14 | [11] | 162 | [12] | |
Activities of households as employers, undifferentiated goods- and services-producing activities of households for own use | 0 | [11] | 0 | [12] | |
Activities of extraterritorial organizations and bodies | 287 | [11] | 503 | [12] | |
Total | 23,377 | [11] | 49,656 | [12] | |
Repo and repo-style transactions [Member] | at amortized cost [Member] | |||||
Credit Risk Profile by Industry Sector [Line Items] | |||||
Agriculture, forestry and fishing | [13] | 0 | 0 | ||
Mining and quarrying | [13] | 0 | 0 | ||
Manufacturing | [13] | 0 | 0 | ||
Electricity, gas, steam and air conditioning supply | [13] | 0 | 0 | ||
Water supply, sewerage, waste management and remediation activities | [13] | 0 | 0 | ||
Construction | [13] | 0 | 0 | ||
Wholesale and retail trade, repair of motor vehicles and motorcycles | [13] | 0 | 0 | ||
Transport and storage | [13] | 0 | 0 | ||
Accommodation and food service activities | [13] | 0 | 0 | ||
Information and communication | [13] | 0 | 0 | ||
Financial and insurance activities | [13] | 8,428 | 8,428 | [14] | |
Real estate activities | [13] | 0 | 0 | [14] | |
Professional, scientific and technical activities | [13] | 0 | 8 | [14] | |
Administrative and support service activities | [13] | 0 | 99 | [14] | |
Public administration and defense, compulsory social security | [13] | 0 | 0 | [14] | |
Education | [13] | 0 | 0 | [14] | |
Human health services and social work activities | [13] | 0 | 0 | [14] | |
Arts, entertainment and recreation | [13] | 0 | 0 | [14] | |
Other service activities | [13] | 5 | 0 | [14] | |
Activities of households as employers, undifferentiated goods- and services-producing activities of households for own use | [13] | 0 | 0 | [14] | |
Activities of extraterritorial organizations and bodies | [13] | 0 | 0 | [14] | |
Total | [13] | 8,433 | 8,535 | [14] | |
Repo and repo-style transactions [Member] | at fair value through P/L [Member] | |||||
Credit Risk Profile by Industry Sector [Line Items] | |||||
Agriculture, forestry and fishing | [13] | 0 | 0 | ||
Mining and quarrying | [13] | 0 | 0 | ||
Manufacturing | [13] | 0 | 0 | ||
Electricity, gas, steam and air conditioning supply | [13] | 0 | 0 | ||
Water supply, sewerage, waste management and remediation activities | [13] | 0 | 0 | ||
Construction | [13] | 0 | 0 | ||
Wholesale and retail trade, repair of motor vehicles and motorcycles | [13] | 0 | 0 | ||
Transport and storage | [13] | 0 | 0 | ||
Accommodation and food service activities | [13] | 0 | 0 | ||
Information and communication | [13] | 0 | 0 | ||
Financial and insurance activities | [13] | 76,317 | 61,801 | [14] | |
Real estate activities | [13] | 0 | 0 | [14] | |
Professional, scientific and technical activities | [13] | 0 | 0 | [14] | |
Administrative and support service activities | [13] | 0 | 0 | [14] | |
Public administration and defense, compulsory social security | [13] | 1,957 | 1,089 | [14] | |
Education | [13] | 0 | 0 | [14] | |
Human health services and social work activities | [13] | 0 | 0 | [14] | |
Arts, entertainment and recreation | [13] | 0 | 0 | [14] | |
Other service activities | [13] | 12 | 176 | [14] | |
Activities of households as employers, undifferentiated goods- and services-producing activities of households for own use | [13] | 0 | 0 | [14] | |
Activities of extraterritorial organizations and bodies | [13] | 0 | 0 | [14] | |
Total | [13] | 78,286 | 63,066 | [14] | |
Repo and repo-style transactions [Member] | at fair value through OCI [Member] | |||||
Credit Risk Profile by Industry Sector [Line Items] | |||||
Agriculture, forestry and fishing | [13] | 0 | 0 | ||
Mining and quarrying | [13] | 0 | 0 | ||
Manufacturing | [13] | 0 | 0 | ||
Electricity, gas, steam and air conditioning supply | [13] | 0 | 0 | ||
Water supply, sewerage, waste management and remediation activities | [13] | 0 | 0 | ||
Construction | [13] | 0 | 0 | ||
Wholesale and retail trade, repair of motor vehicles and motorcycles | [13] | 0 | 0 | ||
Transport and storage | [13] | 0 | 0 | ||
Accommodation and food service activities | [13] | 0 | 0 | ||
Information and communication | [13] | 0 | 0 | ||
Financial and insurance activities | [13] | 1,231 | 1,543 | [14] | |
Real estate activities | [13] | 0 | 0 | [14] | |
Professional, scientific and technical activities | [13] | 0 | 0 | [14] | |
Administrative and support service activities | [13] | 0 | 0 | [14] | |
Public administration and defense, compulsory social security | [13] | 0 | 0 | [14] | |
Education | [13] | 0 | 0 | [14] | |
Human health services and social work activities | [13] | 0 | 0 | [14] | |
Arts, entertainment and recreation | [13] | 0 | 0 | [14] | |
Other service activities | [13] | 0 | 0 | [14] | |
Activities of households as employers, undifferentiated goods- and services-producing activities of households for own use | [13] | 0 | 0 | [14] | |
Activities of extraterritorial organizations and bodies | [13] | 0 | 0 | [14] | |
Total | [13] | € 1,231 | € 1,543 | [14] | |
[1] | Includes stage 3 and stage 3 POCI loans at amortized cost amounting to € 12.4 billion | ||||
[2] | Includes stage 3 and stage 3 POCI loans at amortized cost amounting to € 11.9 billion | ||||
[3] | Includes stage 3 and stage 3 POCI loans at fair value through OCI amounting to € 28.1 million | ||||
[4] | Includes stage 3 and stage 3 POCI loans at fair value through OCI amounting to € 90.3 million | ||||
[5] | Includes stage 3 and stage 3 POCI off-balance sheet exposure amounting to € 2.6 billion | ||||
[6] | Includes stage 3 and stage 3 POCI off-balance sheet exposure amounting to € 2.6 billion | ||||
[7] | Includes the effect of netting agreements and cash collateral received where applicable. Excludes derivatives qualifying for hedge accounting. | ||||
[8] | Includes the effect of netting agreements and cash collateral received where applicable. Excludes derivatives qualifying for hedge accounting. | ||||
[9] | Includes stage 3 and stage 3 POCI debt securities at amortized cost amounting to € 368.2 million | ||||
[10] | Includes stage 3 and stage 3 POCI debt securities at amortized cost amounting to € 360.4 million | ||||
[11] | Includes stage 3 and stage 3 POCI debt securities at fair value through OCI amounting to € 15.8 million | ||||
[12] | Includes stage 3 and stage 3 POCI debt securities at fair value through OCI amounting to € 15.1 million | ||||
[13] | Before reflection of collateral and limited to securities purchased under resale agreements and securities borrowed. | ||||
[14] | Before reflection of collateral and limited to securities purchased under resale agreements and securities borrowed. |
Risk Report - Credit Risk Exp_5
Risk Report - Credit Risk Exposure - Credit Risk Profile by Geographical Region (Detail) - EUR (€) € in Millions | Dec. 31, 2021 | Dec. 31, 2020 | |||
Credit Risk Profile [Domain Member] | |||||
Credit Risk Profile by Region [Line Items] | |||||
Total | € 1,023,637 | € 974,661 | |||
at amortized cost [Member] | |||||
Credit Risk Profile by Region [Line Items] | |||||
Loans | 476,827 | 431,503 | |||
Debt securities | 14,849 | 12,625 | |||
Repo and repo-style transactions | 8,433 | 8,535 | |||
at fair value through P/L [Member] | |||||
Credit Risk Profile by Region [Line Items] | |||||
Loans | 9,189 | 8,339 | |||
OTC derivatives | 24,146 | 32,928 | |||
Debt securities | 95,367 | 95,347 | |||
Repo and repo-style transactions | 78,286 | 63,066 | |||
Designated / mandatory at fair value through P/L [Member] | |||||
Credit Risk Profile by Region [Line Items] | |||||
Loans | 1,035 | 2,629 | |||
at fair value through OCI [Member] | |||||
Credit Risk Profile by Region [Line Items] | |||||
Loans | 4,370 | 4,635 | |||
Debt securities | 23,377 | 49,656 | |||
Repo and repo-style transactions | 1,231 | 1,543 | |||
Revocable and irrevocable lending commitments [Member] | |||||
Credit Risk Profile by Region [Line Items] | |||||
Off-balance sheet | 227,132 | 215,877 | |||
Contingent liabilities [Member] | |||||
Credit Risk Profile by Region [Line Items] | |||||
Off-balance sheet | 59,394 | 47,978 | |||
Europe [Member] | Credit Risk Profile [Domain Member] | |||||
Credit Risk Profile by Region [Line Items] | |||||
Total | 618,251 | 606,947 | |||
Europe [Member] | at amortized cost [Member] | |||||
Credit Risk Profile by Region [Line Items] | |||||
Loans | 342,179 | [1] | 317,281 | [2] | |
Debt securities | 3,464 | [3] | 2,468 | [4] | |
Repo and repo-style transactions | [5] | 2,745 | 2,180 | ||
Europe [Member] | at fair value through P/L [Member] | |||||
Credit Risk Profile by Region [Line Items] | |||||
Loans | 3,411 | 3,092 | |||
OTC derivatives | [6] | 13,525 | 20,283 | ||
Debt securities | 45,063 | 46,446 | |||
Repo and repo-style transactions | [5] | 32,525 | 21,696 | ||
Europe [Member] | Designated / mandatory at fair value through P/L [Member] | |||||
Credit Risk Profile by Region [Line Items] | |||||
Loans | 702 | 1,519 | |||
Europe [Member] | at fair value through OCI [Member] | |||||
Credit Risk Profile by Region [Line Items] | |||||
Loans | 1,365 | [7] | 1,615 | [8] | |
Debt securities | 7,578 | [9] | 31,902 | [10] | |
Repo and repo-style transactions | [5] | 484 | 498 | ||
Europe [Member] | Revocable and irrevocable lending commitments [Member] | |||||
Credit Risk Profile by Region [Line Items] | |||||
Off-balance sheet | 129,396 | [11] | 128,440 | [12] | |
Europe [Member] | Contingent liabilities [Member] | |||||
Credit Risk Profile by Region [Line Items] | |||||
Off-balance sheet | 35,814 | 29,529 | |||
Germany [Member] | Credit Risk Profile [Domain Member] | |||||
Credit Risk Profile by Region [Line Items] | |||||
Total | 337,987 | 335,074 | |||
Germany [Member] | at amortized cost [Member] | |||||
Credit Risk Profile by Region [Line Items] | |||||
Loans | 236,139 | [1] | 224,274 | [2] | |
Debt securities | 548 | [3] | 544 | [4] | |
Repo and repo-style transactions | [5] | 274 | 263 | ||
Germany [Member] | at fair value through P/L [Member] | |||||
Credit Risk Profile by Region [Line Items] | |||||
Loans | 407 | 340 | |||
OTC derivatives | [6] | 1,535 | 1,715 | ||
Debt securities | 7,152 | 8,252 | |||
Repo and repo-style transactions | [5] | 3,301 | 1,078 | ||
Germany [Member] | Designated / mandatory at fair value through P/L [Member] | |||||
Credit Risk Profile by Region [Line Items] | |||||
Loans | 20 | 57 | |||
Germany [Member] | at fair value through OCI [Member] | |||||
Credit Risk Profile by Region [Line Items] | |||||
Loans | 173 | [7] | 347 | [8] | |
Debt securities | 932 | [9] | 10,467 | [10] | |
Repo and repo-style transactions | [5] | 32 | 10 | ||
Germany [Member] | Revocable and irrevocable lending commitments [Member] | |||||
Credit Risk Profile by Region [Line Items] | |||||
Off-balance sheet | 73,087 | [11] | 75,531 | [12] | |
Germany [Member] | Contingent liabilities [Member] | |||||
Credit Risk Profile by Region [Line Items] | |||||
Off-balance sheet | 14,388 | 12,195 | |||
UK [Member] | Credit Risk Profile [Domain Member] | |||||
Credit Risk Profile by Region [Line Items] | |||||
Total | 43,628 | 48,607 | |||
UK [Member] | at amortized cost [Member] | |||||
Credit Risk Profile by Region [Line Items] | |||||
Loans | 6,331 | [1] | 5,796 | [2] | |
Debt securities | 951 | [3] | 890 | [4] | |
Repo and repo-style transactions | [5] | 571 | 0 | ||
UK [Member] | at fair value through P/L [Member] | |||||
Credit Risk Profile by Region [Line Items] | |||||
Loans | 529 | 160 | |||
OTC derivatives | [6] | 4,480 | 7,102 | ||
Debt securities | 8,604 | 7,980 | |||
Repo and repo-style transactions | [5] | 8,824 | 11,352 | ||
UK [Member] | Designated / mandatory at fair value through P/L [Member] | |||||
Credit Risk Profile by Region [Line Items] | |||||
Loans | 243 | 341 | |||
UK [Member] | at fair value through OCI [Member] | |||||
Credit Risk Profile by Region [Line Items] | |||||
Loans | 297 | [7] | 64 | [8] | |
Debt securities | 1,151 | [9] | 2,776 | [10] | |
Repo and repo-style transactions | [5] | 0 | 0 | ||
UK [Member] | Revocable and irrevocable lending commitments [Member] | |||||
Credit Risk Profile by Region [Line Items] | |||||
Off-balance sheet | 8,851 | [11] | 9,820 | [12] | |
UK [Member] | Contingent liabilities [Member] | |||||
Credit Risk Profile by Region [Line Items] | |||||
Off-balance sheet | 2,796 | 2,327 | |||
France [Member] | Credit Risk Profile [Domain Member] | |||||
Credit Risk Profile by Region [Line Items] | |||||
Total | 34,448 | 31,898 | |||
France [Member] | at amortized cost [Member] | |||||
Credit Risk Profile by Region [Line Items] | |||||
Loans | 3,581 | [1] | 3,460 | [2] | |
Debt securities | 0 | [3] | 2 | [4] | |
Repo and repo-style transactions | [5] | 5 | 0 | ||
France [Member] | at fair value through P/L [Member] | |||||
Credit Risk Profile by Region [Line Items] | |||||
Loans | 59 | 65 | |||
OTC derivatives | [6] | 925 | 1,331 | ||
Debt securities | 6,482 | 8,136 | |||
Repo and repo-style transactions | [5] | 12,910 | 5,981 | ||
France [Member] | Designated / mandatory at fair value through P/L [Member] | |||||
Credit Risk Profile by Region [Line Items] | |||||
Loans | 2 | 33 | |||
France [Member] | at fair value through OCI [Member] | |||||
Credit Risk Profile by Region [Line Items] | |||||
Loans | 55 | [7] | 187 | [8] | |
Debt securities | 1,411 | [9] | 5,216 | [10] | |
Repo and repo-style transactions | [5] | 0 | 0 | ||
France [Member] | Revocable and irrevocable lending commitments [Member] | |||||
Credit Risk Profile by Region [Line Items] | |||||
Off-balance sheet | 6,840 | [11] | 6,103 | [12] | |
France [Member] | Contingent liabilities [Member] | |||||
Credit Risk Profile by Region [Line Items] | |||||
Off-balance sheet | 2,179 | 1,383 | |||
Luxembourg [Member] | Credit Risk Profile [Domain Member] | |||||
Credit Risk Profile by Region [Line Items] | |||||
Total | 27,594 | 22,466 | |||
Luxembourg [Member] | at amortized cost [Member] | |||||
Credit Risk Profile by Region [Line Items] | |||||
Loans | 14,195 | [1] | 10,097 | [2] | |
Debt securities | 57 | [3] | 41 | [4] | |
Repo and repo-style transactions | [5] | 0 | 0 | ||
Luxembourg [Member] | at fair value through P/L [Member] | |||||
Credit Risk Profile by Region [Line Items] | |||||
Loans | 517 | 546 | |||
OTC derivatives | [6] | 646 | 701 | ||
Debt securities | 2,471 | 2,509 | |||
Repo and repo-style transactions | [5] | 971 | 819 | ||
Luxembourg [Member] | Designated / mandatory at fair value through P/L [Member] | |||||
Credit Risk Profile by Region [Line Items] | |||||
Loans | 82 | 252 | |||
Luxembourg [Member] | at fair value through OCI [Member] | |||||
Credit Risk Profile by Region [Line Items] | |||||
Loans | 53 | [7] | 0 | [8] | |
Debt securities | 497 | [9] | 1,412 | [10] | |
Repo and repo-style transactions | [5] | 0 | 0 | ||
Luxembourg [Member] | Revocable and irrevocable lending commitments [Member] | |||||
Credit Risk Profile by Region [Line Items] | |||||
Off-balance sheet | 7,393 | [11] | 4,839 | [12] | |
Luxembourg [Member] | Contingent liabilities [Member] | |||||
Credit Risk Profile by Region [Line Items] | |||||
Off-balance sheet | 713 | 1,251 | |||
Italy [Member] | Credit Risk Profile [Domain Member] | |||||
Credit Risk Profile by Region [Line Items] | |||||
Total | 38,042 | 41,297 | |||
Italy [Member] | at amortized cost [Member] | |||||
Credit Risk Profile by Region [Line Items] | |||||
Loans | 24,316 | [1] | 23,442 | [2] | |
Debt securities | 314 | [3] | 117 | [4] | |
Repo and repo-style transactions | [5] | 85 | 108 | ||
Italy [Member] | at fair value through P/L [Member] | |||||
Credit Risk Profile by Region [Line Items] | |||||
Loans | 227 | 340 | |||
OTC derivatives | [6] | 398 | 1,854 | ||
Debt securities | 3,655 | 5,908 | |||
Repo and repo-style transactions | [5] | 729 | 478 | ||
Italy [Member] | Designated / mandatory at fair value through P/L [Member] | |||||
Credit Risk Profile by Region [Line Items] | |||||
Loans | 9 | 66 | |||
Italy [Member] | at fair value through OCI [Member] | |||||
Credit Risk Profile by Region [Line Items] | |||||
Loans | 0 | [7] | 0 | [8] | |
Debt securities | 315 | [9] | 1,496 | [10] | |
Repo and repo-style transactions | [5] | 0 | 0 | ||
Italy [Member] | Revocable and irrevocable lending commitments [Member] | |||||
Credit Risk Profile by Region [Line Items] | |||||
Off-balance sheet | 3,484 | [11] | 3,600 | [12] | |
Italy [Member] | Contingent liabilities [Member] | |||||
Credit Risk Profile by Region [Line Items] | |||||
Off-balance sheet | 4,510 | 3,888 | |||
Netherlands [Member] | Credit Risk Profile [Domain Member] | |||||
Credit Risk Profile by Region [Line Items] | |||||
Total | 24,347 | 27,843 | |||
Netherlands [Member] | at amortized cost [Member] | |||||
Credit Risk Profile by Region [Line Items] | |||||
Loans | 9,383 | [1] | 9,679 | [2] | |
Debt securities | 212 | [3] | 112 | [4] | |
Repo and repo-style transactions | [5] | 29 | 0 | ||
Netherlands [Member] | at fair value through P/L [Member] | |||||
Credit Risk Profile by Region [Line Items] | |||||
Loans | 137 | 79 | |||
OTC derivatives | [6] | 1,226 | 1,942 | ||
Debt securities | 2,157 | 3,486 | |||
Repo and repo-style transactions | [5] | 38 | 33 | ||
Netherlands [Member] | Designated / mandatory at fair value through P/L [Member] | |||||
Credit Risk Profile by Region [Line Items] | |||||
Loans | 102 | 222 | |||
Netherlands [Member] | at fair value through OCI [Member] | |||||
Credit Risk Profile by Region [Line Items] | |||||
Loans | 384 | [7] | 554 | [8] | |
Debt securities | 51 | [9] | 118 | [10] | |
Repo and repo-style transactions | [5] | 0 | 0 | ||
Netherlands [Member] | Revocable and irrevocable lending commitments [Member] | |||||
Credit Risk Profile by Region [Line Items] | |||||
Off-balance sheet | 8,391 | [11] | 9,890 | [12] | |
Netherlands [Member] | Contingent liabilities [Member] | |||||
Credit Risk Profile by Region [Line Items] | |||||
Off-balance sheet | 2,237 | 1,727 | |||
Spain [Member] | Credit Risk Profile [Domain Member] | |||||
Credit Risk Profile by Region [Line Items] | |||||
Total | 33,012 | 32,796 | |||
Spain [Member] | at amortized cost [Member] | |||||
Credit Risk Profile by Region [Line Items] | |||||
Loans | 16,283 | [1] | 17,134 | [2] | |
Debt securities | 74 | [3] | 0 | [4] | |
Repo and repo-style transactions | [5] | 1,126 | 1,077 | ||
Spain [Member] | at fair value through P/L [Member] | |||||
Credit Risk Profile by Region [Line Items] | |||||
Loans | 246 | 304 | |||
OTC derivatives | [6] | 668 | 1,094 | ||
Debt securities | 7,193 | 3,053 | |||
Repo and repo-style transactions | [5] | 500 | 500 | ||
Spain [Member] | Designated / mandatory at fair value through P/L [Member] | |||||
Credit Risk Profile by Region [Line Items] | |||||
Loans | 0 | 0 | |||
Spain [Member] | at fair value through OCI [Member] | |||||
Credit Risk Profile by Region [Line Items] | |||||
Loans | 43 | [7] | 28 | [8] | |
Debt securities | 199 | [9] | 3,088 | [10] | |
Repo and repo-style transactions | [5] | 0 | 0 | ||
Spain [Member] | Revocable and irrevocable lending commitments [Member] | |||||
Credit Risk Profile by Region [Line Items] | |||||
Off-balance sheet | 3,215 | [11] | 3,755 | [12] | |
Spain [Member] | Contingent liabilities [Member] | |||||
Credit Risk Profile by Region [Line Items] | |||||
Off-balance sheet | 3,464 | 2,763 | |||
Ireland [Member] | Credit Risk Profile [Domain Member] | |||||
Credit Risk Profile by Region [Line Items] | |||||
Total | 14,237 | 10,004 | |||
Ireland [Member] | at amortized cost [Member] | |||||
Credit Risk Profile by Region [Line Items] | |||||
Loans | 4,652 | [1] | 4,173 | [2] | |
Debt securities | 1,143 | [3] | 680 | [4] | |
Repo and repo-style transactions | [5] | 2 | 0 | ||
Ireland [Member] | at fair value through P/L [Member] | |||||
Credit Risk Profile by Region [Line Items] | |||||
Loans | 262 | 190 | |||
OTC derivatives | [6] | 549 | 465 | ||
Debt securities | 1,264 | 1,415 | |||
Repo and repo-style transactions | [5] | 3,158 | 396 | ||
Ireland [Member] | Designated / mandatory at fair value through P/L [Member] | |||||
Credit Risk Profile by Region [Line Items] | |||||
Loans | 234 | 200 | |||
Ireland [Member] | at fair value through OCI [Member] | |||||
Credit Risk Profile by Region [Line Items] | |||||
Loans | 72 | [7] | 127 | [8] | |
Debt securities | 3 | [9] | 136 | [10] | |
Repo and repo-style transactions | [5] | 0 | 0 | ||
Ireland [Member] | Revocable and irrevocable lending commitments [Member] | |||||
Credit Risk Profile by Region [Line Items] | |||||
Off-balance sheet | 2,687 | [11] | 2,023 | [12] | |
Ireland [Member] | Contingent liabilities [Member] | |||||
Credit Risk Profile by Region [Line Items] | |||||
Off-balance sheet | 210 | 200 | |||
Switzerland [Member] | Credit Risk Profile [Domain Member] | |||||
Credit Risk Profile by Region [Line Items] | |||||
Total | 22,968 | 14,299 | |||
Switzerland [Member] | at amortized cost [Member] | |||||
Credit Risk Profile by Region [Line Items] | |||||
Loans | 13,083 | [1] | 6,817 | [2] | |
Debt securities | 3 | [3] | 4 | [4] | |
Repo and repo-style transactions | [5] | 0 | 0 | ||
Switzerland [Member] | at fair value through P/L [Member] | |||||
Credit Risk Profile by Region [Line Items] | |||||
Loans | 34 | 39 | |||
OTC derivatives | [6] | 145 | 268 | ||
Debt securities | 583 | 637 | |||
Repo and repo-style transactions | [5] | 140 | 79 | ||
Switzerland [Member] | Designated / mandatory at fair value through P/L [Member] | |||||
Credit Risk Profile by Region [Line Items] | |||||
Loans | 0 | 19 | |||
Switzerland [Member] | at fair value through OCI [Member] | |||||
Credit Risk Profile by Region [Line Items] | |||||
Loans | 110 | [7] | 150 | [8] | |
Debt securities | 4 | [9] | 4 | [10] | |
Repo and repo-style transactions | [5] | 0 | 0 | ||
Switzerland [Member] | Revocable and irrevocable lending commitments [Member] | |||||
Credit Risk Profile by Region [Line Items] | |||||
Off-balance sheet | 6,156 | [11] | 4,518 | [12] | |
Switzerland [Member] | Contingent liabilities [Member] | |||||
Credit Risk Profile by Region [Line Items] | |||||
Off-balance sheet | 2,710 | 1,762 | |||
Poland [Member] | Credit Risk Profile [Domain Member] | |||||
Credit Risk Profile by Region [Line Items] | |||||
Total | 4,859 | 5,047 | |||
Poland [Member] | at amortized cost [Member] | |||||
Credit Risk Profile by Region [Line Items] | |||||
Loans | 2,293 | [1] | 2,421 | [2] | |
Debt securities | 0 | [3] | 0 | [4] | |
Repo and repo-style transactions | [5] | 0 | 0 | ||
Poland [Member] | at fair value through P/L [Member] | |||||
Credit Risk Profile by Region [Line Items] | |||||
Loans | 0 | 0 | |||
OTC derivatives | [6] | 14 | 17 | ||
Debt securities | 73 | 112 | |||
Repo and repo-style transactions | [5] | 76 | 0 | ||
Poland [Member] | Designated / mandatory at fair value through P/L [Member] | |||||
Credit Risk Profile by Region [Line Items] | |||||
Loans | 0 | 1 | |||
Poland [Member] | at fair value through OCI [Member] | |||||
Credit Risk Profile by Region [Line Items] | |||||
Loans | 16 | [7] | 0 | [8] | |
Debt securities | 1,870 | [9] | 1,993 | [10] | |
Repo and repo-style transactions | [5] | 0 | 0 | ||
Poland [Member] | Revocable and irrevocable lending commitments [Member] | |||||
Credit Risk Profile by Region [Line Items] | |||||
Off-balance sheet | 401 | [11] | 374 | [12] | |
Poland [Member] | Contingent liabilities [Member] | |||||
Credit Risk Profile by Region [Line Items] | |||||
Off-balance sheet | 116 | 128 | |||
Belgium [Member] | Credit Risk Profile [Domain Member] | |||||
Credit Risk Profile by Region [Line Items] | |||||
Total | 6,798 | 6,966 | |||
Belgium [Member] | at amortized cost [Member] | |||||
Credit Risk Profile by Region [Line Items] | |||||
Loans | 1,426 | [1] | 1,133 | [2] | |
Debt securities | 33 | [3] | 40 | [4] | |
Repo and repo-style transactions | [5] | 0 | 0 | ||
Belgium [Member] | at fair value through P/L [Member] | |||||
Credit Risk Profile by Region [Line Items] | |||||
Loans | 5 | 4 | |||
OTC derivatives | [6] | 212 | 295 | ||
Debt securities | 1,932 | 1,575 | |||
Repo and repo-style transactions | [5] | 7 | 5 | ||
Belgium [Member] | Designated / mandatory at fair value through P/L [Member] | |||||
Credit Risk Profile by Region [Line Items] | |||||
Loans | 0 | 0 | |||
Belgium [Member] | at fair value through OCI [Member] | |||||
Credit Risk Profile by Region [Line Items] | |||||
Loans | 76 | [7] | 53 | [8] | |
Debt securities | 805 | [9] | 1,616 | [10] | |
Repo and repo-style transactions | [5] | 0 | 0 | ||
Belgium [Member] | Revocable and irrevocable lending commitments [Member] | |||||
Credit Risk Profile by Region [Line Items] | |||||
Off-balance sheet | 1,724 | [11] | 1,566 | [12] | |
Belgium [Member] | Contingent liabilities [Member] | |||||
Credit Risk Profile by Region [Line Items] | |||||
Off-balance sheet | 578 | 679 | |||
Russia [Member] | Credit Risk Profile [Domain Member] | |||||
Credit Risk Profile by Region [Line Items] | |||||
Total | 1,826 | 1,510 | |||
Russia [Member] | at amortized cost [Member] | |||||
Credit Risk Profile by Region [Line Items] | |||||
Loans | 806 | [1] | 665 | [2] | |
Debt securities | 0 | [3] | 0 | [4] | |
Repo and repo-style transactions | [5] | 0 | 0 | ||
Russia [Member] | at fair value through P/L [Member] | |||||
Credit Risk Profile by Region [Line Items] | |||||
Loans | 54 | 74 | |||
OTC derivatives | [6] | 27 | 17 | ||
Debt securities | 14 | 42 | |||
Repo and repo-style transactions | [5] | 0 | 0 | ||
Russia [Member] | Designated / mandatory at fair value through P/L [Member] | |||||
Credit Risk Profile by Region [Line Items] | |||||
Loans | 0 | 0 | |||
Russia [Member] | at fair value through OCI [Member] | |||||
Credit Risk Profile by Region [Line Items] | |||||
Loans | 51 | [7] | 57 | [8] | |
Debt securities | 36 | [9] | 34 | [10] | |
Repo and repo-style transactions | [5] | 0 | 0 | ||
Russia [Member] | Revocable and irrevocable lending commitments [Member] | |||||
Credit Risk Profile by Region [Line Items] | |||||
Off-balance sheet | 629 | [11] | 382 | [12] | |
Russia [Member] | Contingent liabilities [Member] | |||||
Credit Risk Profile by Region [Line Items] | |||||
Off-balance sheet | 209 | 239 | |||
UA [Member] | Credit Risk Profile [Domain Member] | |||||
Credit Risk Profile by Region [Line Items] | |||||
Total | 606 | 758 | |||
UA [Member] | at amortized cost [Member] | |||||
Credit Risk Profile by Region [Line Items] | |||||
Loans | 109 | [1] | 280 | [2] | |
Debt securities | 0 | [3] | 0 | [4] | |
Repo and repo-style transactions | [5] | 0 | 0 | ||
UA [Member] | at fair value through P/L [Member] | |||||
Credit Risk Profile by Region [Line Items] | |||||
Loans | 441 | 425 | |||
OTC derivatives | [6] | 0 | 0 | ||
Debt securities | 2 | 8 | |||
Repo and repo-style transactions | [5] | 0 | 0 | ||
UA [Member] | Designated / mandatory at fair value through P/L [Member] | |||||
Credit Risk Profile by Region [Line Items] | |||||
Loans | 0 | 0 | |||
UA [Member] | at fair value through OCI [Member] | |||||
Credit Risk Profile by Region [Line Items] | |||||
Loans | 0 | [7] | 0 | [8] | |
Debt securities | 29 | [9] | 17 | [10] | |
Repo and repo-style transactions | [5] | 0 | 0 | ||
UA [Member] | Revocable and irrevocable lending commitments [Member] | |||||
Credit Risk Profile by Region [Line Items] | |||||
Off-balance sheet | 3 | [11] | 17 | [12] | |
UA [Member] | Contingent liabilities [Member] | |||||
Credit Risk Profile by Region [Line Items] | |||||
Off-balance sheet | 22 | 11 | |||
Other Europe [Member] | Credit Risk Profile [Domain Member] | |||||
Credit Risk Profile by Region [Line Items] | |||||
Total | 27,900 | 28,381 | |||
Other Europe [Member] | at amortized cost [Member] | |||||
Credit Risk Profile by Region [Line Items] | |||||
Loans | 9,583 | 7,910 | |||
Debt securities | 130 | 38 | |||
Repo and repo-style transactions | 653 | 731 | |||
Other Europe [Member] | at fair value through P/L [Member] | |||||
Credit Risk Profile by Region [Line Items] | |||||
Loans | 492 | 527 | |||
OTC derivatives | 2,700 | 3,480 | |||
Debt securities | 3,481 | 3,334 | |||
Repo and repo-style transactions | 1,870 | 975 | |||
Other Europe [Member] | Designated / mandatory at fair value through P/L [Member] | |||||
Credit Risk Profile by Region [Line Items] | |||||
Loans | 10 | 327 | |||
Other Europe [Member] | at fair value through OCI [Member] | |||||
Credit Risk Profile by Region [Line Items] | |||||
Loans | 37 | 46 | |||
Debt securities | 274 | 3,529 | |||
Repo and repo-style transactions | 452 | 488 | |||
Other Europe [Member] | Revocable and irrevocable lending commitments [Member] | |||||
Credit Risk Profile by Region [Line Items] | |||||
Off-balance sheet | 6,535 | 6,021 | |||
Other Europe [Member] | Contingent liabilities [Member] | |||||
Credit Risk Profile by Region [Line Items] | |||||
Off-balance sheet | 1,683 | 976 | |||
Belarus [Member] | at amortized cost [Member] | |||||
Credit Risk Profile by Region [Line Items] | |||||
Total | 2 | ||||
North America [Member] | Credit Risk Profile [Domain Member] | |||||
Credit Risk Profile by Region [Line Items] | |||||
Total | 285,278 | 256,433 | |||
North America [Member] | at amortized cost [Member] | |||||
Credit Risk Profile by Region [Line Items] | |||||
Loans | 87,628 | [1] | 73,742 | [2] | |
Debt securities | 8,618 | [3] | 7,727 | [4] | |
Repo and repo-style transactions | [5] | 2,551 | 2,780 | ||
North America [Member] | at fair value through P/L [Member] | |||||
Credit Risk Profile by Region [Line Items] | |||||
Loans | 3,904 | 3,266 | |||
OTC derivatives | [6] | 7,853 | 9,420 | ||
Debt securities | 26,899 | 27,547 | |||
Repo and repo-style transactions | [5] | 38,688 | 31,907 | ||
North America [Member] | Designated / mandatory at fair value through P/L [Member] | |||||
Credit Risk Profile by Region [Line Items] | |||||
Loans | 132 | 841 | |||
North America [Member] | at fair value through OCI [Member] | |||||
Credit Risk Profile by Region [Line Items] | |||||
Loans | 2,060 | [7] | 1,896 | [8] | |
Debt securities | 10,363 | [9] | 11,798 | [10] | |
Repo and repo-style transactions | [5] | 0 | 0 | ||
North America [Member] | Revocable and irrevocable lending commitments [Member] | |||||
Credit Risk Profile by Region [Line Items] | |||||
Off-balance sheet | 87,172 | [11] | 78,079 | [12] | |
North America [Member] | Contingent liabilities [Member] | |||||
Credit Risk Profile by Region [Line Items] | |||||
Off-balance sheet | 9,411 | 7,430 | |||
US [Member] | Credit Risk Profile [Domain Member] | |||||
Credit Risk Profile by Region [Line Items] | |||||
Total | 247,722 | 231,523 | |||
US [Member] | at amortized cost [Member] | |||||
Credit Risk Profile by Region [Line Items] | |||||
Loans | 73,007 | [1] | 61,137 | [2] | |
Debt securities | 8,600 | [3] | 7,351 | [4] | |
Repo and repo-style transactions | [5] | 517 | 1,814 | ||
US [Member] | at fair value through P/L [Member] | |||||
Credit Risk Profile by Region [Line Items] | |||||
Loans | 3,156 | 2,926 | |||
OTC derivatives | [6] | 6,839 | 8,496 | ||
Debt securities | 25,959 | 26,408 | |||
Repo and repo-style transactions | [5] | 26,173 | 29,370 | ||
US [Member] | Designated / mandatory at fair value through P/L [Member] | |||||
Credit Risk Profile by Region [Line Items] | |||||
Loans | 91 | 784 | |||
US [Member] | at fair value through OCI [Member] | |||||
Credit Risk Profile by Region [Line Items] | |||||
Loans | 1,836 | [7] | 1,792 | [8] | |
Debt securities | 10,059 | [9] | 11,197 | [10] | |
Repo and repo-style transactions | [5] | 0 | 0 | ||
US [Member] | Revocable and irrevocable lending commitments [Member] | |||||
Credit Risk Profile by Region [Line Items] | |||||
Off-balance sheet | 82,800 | [11] | 73,215 | [12] | |
US [Member] | Contingent liabilities [Member] | |||||
Credit Risk Profile by Region [Line Items] | |||||
Off-balance sheet | 8,685 | 7,033 | |||
Cayman Islands [Member] | Credit Risk Profile [Domain Member] | |||||
Credit Risk Profile by Region [Line Items] | |||||
Total | 21,851 | 10,206 | |||
Cayman Islands [Member] | at amortized cost [Member] | |||||
Credit Risk Profile by Region [Line Items] | |||||
Loans | 5,709 | [1] | 3,790 | [2] | |
Debt securities | 0 | [3] | 359 | [4] | |
Repo and repo-style transactions | [5] | 2,034 | 885 | ||
Cayman Islands [Member] | at fair value through P/L [Member] | |||||
Credit Risk Profile by Region [Line Items] | |||||
Loans | 157 | 113 | |||
OTC derivatives | [6] | 396 | 246 | ||
Debt securities | 238 | 567 | |||
Repo and repo-style transactions | [5] | 11,679 | 2,086 | ||
Cayman Islands [Member] | Designated / mandatory at fair value through P/L [Member] | |||||
Credit Risk Profile by Region [Line Items] | |||||
Loans | 3 | 3 | |||
Cayman Islands [Member] | at fair value through OCI [Member] | |||||
Credit Risk Profile by Region [Line Items] | |||||
Loans | 0 | [7] | 0 | [8] | |
Debt securities | 0 | [9] | 0 | [10] | |
Repo and repo-style transactions | [5] | 0 | 0 | ||
Cayman Islands [Member] | Revocable and irrevocable lending commitments [Member] | |||||
Credit Risk Profile by Region [Line Items] | |||||
Off-balance sheet | 1,555 | [11] | 2,131 | [12] | |
Cayman Islands [Member] | Contingent liabilities [Member] | |||||
Credit Risk Profile by Region [Line Items] | |||||
Off-balance sheet | 80 | 25 | |||
Canada [Member] | Credit Risk Profile [Domain Member] | |||||
Credit Risk Profile by Region [Line Items] | |||||
Total | 5,586 | 4,567 | |||
Canada [Member] | at amortized cost [Member] | |||||
Credit Risk Profile by Region [Line Items] | |||||
Loans | 935 | [1] | 887 | [2] | |
Debt securities | 0 | [3] | 0 | [4] | |
Repo and repo-style transactions | [5] | 0 | 0 | ||
Canada [Member] | at fair value through P/L [Member] | |||||
Credit Risk Profile by Region [Line Items] | |||||
Loans | 291 | 37 | |||
OTC derivatives | [6] | 218 | 303 | ||
Debt securities | 476 | 417 | |||
Repo and repo-style transactions | [5] | 834 | 451 | ||
Canada [Member] | Designated / mandatory at fair value through P/L [Member] | |||||
Credit Risk Profile by Region [Line Items] | |||||
Loans | 0 | 0 | |||
Canada [Member] | at fair value through OCI [Member] | |||||
Credit Risk Profile by Region [Line Items] | |||||
Loans | 200 | [7] | 91 | [8] | |
Debt securities | 235 | [9] | 543 | [10] | |
Repo and repo-style transactions | [5] | 0 | 0 | ||
Canada [Member] | Revocable and irrevocable lending commitments [Member] | |||||
Credit Risk Profile by Region [Line Items] | |||||
Off-balance sheet | 1,977 | [11] | 1,790 | [12] | |
Canada [Member] | Contingent liabilities [Member] | |||||
Credit Risk Profile by Region [Line Items] | |||||
Off-balance sheet | 419 | 47 | |||
Other North America [Member] | Credit Risk Profile [Domain Member] | |||||
Credit Risk Profile by Region [Line Items] | |||||
Total | 10,119 | 10,137 | |||
Other North America [Member] | at amortized cost [Member] | |||||
Credit Risk Profile by Region [Line Items] | |||||
Loans | 7,976 | [1] | 7,928 | [2] | |
Debt securities | 18 | [3] | 16 | [4] | |
Repo and repo-style transactions | [5] | 0 | 81 | ||
Other North America [Member] | at fair value through P/L [Member] | |||||
Credit Risk Profile by Region [Line Items] | |||||
Loans | 301 | 191 | |||
OTC derivatives | [6] | 401 | 374 | ||
Debt securities | 225 | 155 | |||
Repo and repo-style transactions | [5] | 3 | 0 | ||
Other North America [Member] | Designated / mandatory at fair value through P/L [Member] | |||||
Credit Risk Profile by Region [Line Items] | |||||
Loans | 37 | 54 | |||
Other North America [Member] | at fair value through OCI [Member] | |||||
Credit Risk Profile by Region [Line Items] | |||||
Loans | 24 | [7] | 13 | [8] | |
Debt securities | 69 | [9] | 58 | [10] | |
Repo and repo-style transactions | [5] | 0 | 0 | ||
Other North America [Member] | Revocable and irrevocable lending commitments [Member] | |||||
Credit Risk Profile by Region [Line Items] | |||||
Off-balance sheet | 839 | [11] | 943 | [12] | |
Other North America [Member] | Contingent liabilities [Member] | |||||
Credit Risk Profile by Region [Line Items] | |||||
Off-balance sheet | 227 | 326 | |||
Asia/Pacific [Member] | Credit Risk Profile [Domain Member] | |||||
Credit Risk Profile by Region [Line Items] | |||||
Total | 106,154 | 98,052 | |||
Asia/Pacific [Member] | at amortized cost [Member] | |||||
Credit Risk Profile by Region [Line Items] | |||||
Loans | 40,093 | 34,194 | |||
Debt securities | 2,718 | 2,431 | |||
Repo and repo-style transactions | 2,868 | 3,353 | |||
Asia/Pacific [Member] | at fair value through P/L [Member] | |||||
Credit Risk Profile by Region [Line Items] | |||||
Loans | 944 | 1,248 | |||
OTC derivatives | 2,605 | 2,766 | |||
Debt securities | 21,369 | 19,246 | |||
Repo and repo-style transactions | 7,000 | 9,426 | |||
Asia/Pacific [Member] | Designated / mandatory at fair value through P/L [Member] | |||||
Credit Risk Profile by Region [Line Items] | |||||
Loans | 185 | 237 | |||
Asia/Pacific [Member] | at fair value through OCI [Member] | |||||
Credit Risk Profile by Region [Line Items] | |||||
Loans | 874 | 992 | |||
Debt securities | 5,053 | 5,740 | |||
Repo and repo-style transactions | 508 | 646 | |||
Asia/Pacific [Member] | Revocable and irrevocable lending commitments [Member] | |||||
Credit Risk Profile by Region [Line Items] | |||||
Off-balance sheet | 9,151 | 7,813 | |||
Asia/Pacific [Member] | Contingent liabilities [Member] | |||||
Credit Risk Profile by Region [Line Items] | |||||
Off-balance sheet | 12,786 | 9,960 | |||
Japan [Member] | Credit Risk Profile [Domain Member] | |||||
Credit Risk Profile by Region [Line Items] | |||||
Total | 11,127 | 11,881 | |||
Japan [Member] | at amortized cost [Member] | |||||
Credit Risk Profile by Region [Line Items] | |||||
Loans | 1,921 | [1] | 1,385 | [2] | |
Debt securities | 25 | [3] | 64 | [4] | |
Repo and repo-style transactions | [5] | 0 | 0 | ||
Japan [Member] | at fair value through P/L [Member] | |||||
Credit Risk Profile by Region [Line Items] | |||||
Loans | 62 | 17 | |||
OTC derivatives | [6] | 656 | 312 | ||
Debt securities | 2,951 | 2,807 | |||
Repo and repo-style transactions | [5] | 3,672 | 6,283 | ||
Japan [Member] | Designated / mandatory at fair value through P/L [Member] | |||||
Credit Risk Profile by Region [Line Items] | |||||
Loans | 108 | 0 | |||
Japan [Member] | at fair value through OCI [Member] | |||||
Credit Risk Profile by Region [Line Items] | |||||
Loans | 48 | [7] | 89 | [8] | |
Debt securities | 556 | [9] | 25 | [10] | |
Repo and repo-style transactions | [5] | 0 | 0 | ||
Japan [Member] | Revocable and irrevocable lending commitments [Member] | |||||
Credit Risk Profile by Region [Line Items] | |||||
Off-balance sheet | 608 | [11] | 415 | [12] | |
Japan [Member] | Contingent liabilities [Member] | |||||
Credit Risk Profile by Region [Line Items] | |||||
Off-balance sheet | 519 | 483 | |||
Australia [Member] | Credit Risk Profile [Domain Member] | |||||
Credit Risk Profile by Region [Line Items] | |||||
Total | 9,787 | 10,149 | |||
Australia [Member] | at amortized cost [Member] | |||||
Credit Risk Profile by Region [Line Items] | |||||
Loans | 2,112 | [1] | 1,525 | [2] | |
Debt securities | 1,597 | [3] | 1,545 | [4] | |
Repo and repo-style transactions | [5] | 0 | 0 | ||
Australia [Member] | at fair value through P/L [Member] | |||||
Credit Risk Profile by Region [Line Items] | |||||
Loans | 264 | 258 | |||
OTC derivatives | [6] | 257 | 542 | ||
Debt securities | 1,726 | 2,535 | |||
Repo and repo-style transactions | [5] | 515 | 659 | ||
Australia [Member] | Designated / mandatory at fair value through P/L [Member] | |||||
Credit Risk Profile by Region [Line Items] | |||||
Loans | 25 | 36 | |||
Australia [Member] | at fair value through OCI [Member] | |||||
Credit Risk Profile by Region [Line Items] | |||||
Loans | 0 | [7] | 35 | [8] | |
Debt securities | 510 | [9] | 860 | [10] | |
Repo and repo-style transactions | [5] | 0 | 0 | ||
Australia [Member] | Revocable and irrevocable lending commitments [Member] | |||||
Credit Risk Profile by Region [Line Items] | |||||
Off-balance sheet | 2,248 | [11] | 1,785 | [12] | |
Australia [Member] | Contingent liabilities [Member] | |||||
Credit Risk Profile by Region [Line Items] | |||||
Off-balance sheet | 532 | 367 | |||
India [Member] | Credit Risk Profile [Domain Member] | |||||
Credit Risk Profile by Region [Line Items] | |||||
Total | 19,670 | 16,177 | |||
India [Member] | at amortized cost [Member] | |||||
Credit Risk Profile by Region [Line Items] | |||||
Loans | 7,948 | [1] | 6,355 | [2] | |
Debt securities | 617 | [3] | 349 | [4] | |
Repo and repo-style transactions | [5] | 0 | 0 | ||
India [Member] | at fair value through P/L [Member] | |||||
Credit Risk Profile by Region [Line Items] | |||||
Loans | 4 | 54 | |||
OTC derivatives | [6] | 95 | 149 | ||
Debt securities | 5,067 | 3,284 | |||
Repo and repo-style transactions | [5] | 253 | 128 | ||
India [Member] | Designated / mandatory at fair value through P/L [Member] | |||||
Credit Risk Profile by Region [Line Items] | |||||
Loans | 6 | 21 | |||
India [Member] | at fair value through OCI [Member] | |||||
Credit Risk Profile by Region [Line Items] | |||||
Loans | 18 | [7] | 32 | [8] | |
Debt securities | 944 | [9] | 2,047 | [10] | |
Repo and repo-style transactions | [5] | 360 | 396 | ||
India [Member] | Revocable and irrevocable lending commitments [Member] | |||||
Credit Risk Profile by Region [Line Items] | |||||
Off-balance sheet | 920 | [11] | 1,110 | [12] | |
India [Member] | Contingent liabilities [Member] | |||||
Credit Risk Profile by Region [Line Items] | |||||
Off-balance sheet | 3,440 | 2,253 | |||
China [Member] | Credit Risk Profile [Domain Member] | |||||
Credit Risk Profile by Region [Line Items] | |||||
Total | 11,349 | 11,830 | |||
China [Member] | at amortized cost [Member] | |||||
Credit Risk Profile by Region [Line Items] | |||||
Loans | 5,606 | [1] | 4,764 | [2] | |
Debt securities | 16 | [3] | 0 | [4] | |
Repo and repo-style transactions | [5] | 0 | 0 | ||
China [Member] | at fair value through P/L [Member] | |||||
Credit Risk Profile by Region [Line Items] | |||||
Loans | 9 | 6 | |||
OTC derivatives | [6] | 554 | 658 | ||
Debt securities | 1,576 | 3,012 | |||
Repo and repo-style transactions | [5] | 594 | 421 | ||
China [Member] | Designated / mandatory at fair value through P/L [Member] | |||||
Credit Risk Profile by Region [Line Items] | |||||
Loans | 0 | 149 | |||
China [Member] | at fair value through OCI [Member] | |||||
Credit Risk Profile by Region [Line Items] | |||||
Loans | 42 | [7] | 46 | [8] | |
Debt securities | 560 | [9] | 309 | [10] | |
Repo and repo-style transactions | [5] | 0 | 0 | ||
China [Member] | Revocable and irrevocable lending commitments [Member] | |||||
Credit Risk Profile by Region [Line Items] | |||||
Off-balance sheet | 480 | [11] | 684 | [12] | |
China [Member] | Contingent liabilities [Member] | |||||
Credit Risk Profile by Region [Line Items] | |||||
Off-balance sheet | 1,913 | 1,780 | |||
Singapore [Member] | Credit Risk Profile [Domain Member] | |||||
Credit Risk Profile by Region [Line Items] | |||||
Total | 10,136 | 10,152 | |||
Singapore [Member] | at amortized cost [Member] | |||||
Credit Risk Profile by Region [Line Items] | |||||
Loans | 5,750 | [1] | 5,309 | [2] | |
Debt securities | 9 | [3] | 78 | [4] | |
Repo and repo-style transactions | [5] | 0 | 0 | ||
Singapore [Member] | at fair value through P/L [Member] | |||||
Credit Risk Profile by Region [Line Items] | |||||
Loans | 127 | 210 | |||
OTC derivatives | [6] | 157 | 248 | ||
Debt securities | 860 | 2,067 | |||
Repo and repo-style transactions | [5] | 107 | 105 | ||
Singapore [Member] | Designated / mandatory at fair value through P/L [Member] | |||||
Credit Risk Profile by Region [Line Items] | |||||
Loans | 23 | 30 | |||
Singapore [Member] | at fair value through OCI [Member] | |||||
Credit Risk Profile by Region [Line Items] | |||||
Loans | 135 | [7] | 28 | [8] | |
Debt securities | 246 | [9] | 472 | [10] | |
Repo and repo-style transactions | [5] | 0 | 0 | ||
Singapore [Member] | Revocable and irrevocable lending commitments [Member] | |||||
Credit Risk Profile by Region [Line Items] | |||||
Off-balance sheet | 1,157 | [11] | 918 | [12] | |
Singapore [Member] | Contingent liabilities [Member] | |||||
Credit Risk Profile by Region [Line Items] | |||||
Off-balance sheet | 1,566 | 685 | |||
Hong Kong [Member] | Credit Risk Profile [Domain Member] | |||||
Credit Risk Profile by Region [Line Items] | |||||
Total | 6,861 | 6,175 | |||
Hong Kong [Member] | at amortized cost [Member] | |||||
Credit Risk Profile by Region [Line Items] | |||||
Loans | 3,146 | [1] | 2,872 | [2] | |
Debt securities | 213 | [3] | 207 | [4] | |
Repo and repo-style transactions | [5] | 0 | 60 | ||
Hong Kong [Member] | at fair value through P/L [Member] | |||||
Credit Risk Profile by Region [Line Items] | |||||
Loans | 89 | 109 | |||
OTC derivatives | [6] | 181 | 186 | ||
Debt securities | 742 | 725 | |||
Repo and repo-style transactions | [5] | 184 | 12 | ||
Hong Kong [Member] | Designated / mandatory at fair value through P/L [Member] | |||||
Credit Risk Profile by Region [Line Items] | |||||
Loans | 0 | 0 | |||
Hong Kong [Member] | at fair value through OCI [Member] | |||||
Credit Risk Profile by Region [Line Items] | |||||
Loans | 51 | [7] | 61 | [8] | |
Debt securities | 246 | [9] | 286 | [10] | |
Repo and repo-style transactions | [5] | 0 | 0 | ||
Hong Kong [Member] | Revocable and irrevocable lending commitments [Member] | |||||
Credit Risk Profile by Region [Line Items] | |||||
Off-balance sheet | 1,258 | [11] | 986 | [12] | |
Hong Kong [Member] | Contingent liabilities [Member] | |||||
Credit Risk Profile by Region [Line Items] | |||||
Off-balance sheet | 752 | 671 | |||
Other Asia/Pacific [Member] | Credit Risk Profile [Domain Member] | |||||
Credit Risk Profile by Region [Line Items] | |||||
Total | 37,224 | 31,689 | |||
Other Asia/Pacific [Member] | at amortized cost [Member] | |||||
Credit Risk Profile by Region [Line Items] | |||||
Loans | 13,610 | [1] | 11,984 | [2] | |
Debt securities | 242 | [3] | 188 | [4] | |
Repo and repo-style transactions | [5] | 2,868 | 3,293 | ||
Other Asia/Pacific [Member] | at fair value through P/L [Member] | |||||
Credit Risk Profile by Region [Line Items] | |||||
Loans | 390 | 593 | |||
OTC derivatives | [6] | 706 | 670 | ||
Debt securities | 8,447 | 4,816 | |||
Repo and repo-style transactions | [5] | 1,675 | 1,817 | ||
Other Asia/Pacific [Member] | Designated / mandatory at fair value through P/L [Member] | |||||
Credit Risk Profile by Region [Line Items] | |||||
Loans | 23 | 0 | |||
Other Asia/Pacific [Member] | at fair value through OCI [Member] | |||||
Credit Risk Profile by Region [Line Items] | |||||
Loans | 581 | [7] | 702 | [8] | |
Debt securities | 1,990 | [9] | 1,740 | [10] | |
Repo and repo-style transactions | [5] | 147 | 250 | ||
Other Asia/Pacific [Member] | Revocable and irrevocable lending commitments [Member] | |||||
Credit Risk Profile by Region [Line Items] | |||||
Off-balance sheet | 2,480 | [11] | 1,914 | [12] | |
Other Asia/Pacific [Member] | Contingent liabilities [Member] | |||||
Credit Risk Profile by Region [Line Items] | |||||
Off-balance sheet | 4,064 | 3,721 | |||
Other countries [Member] | Credit Risk Profile [Domain Member] | |||||
Credit Risk Profile by Region [Line Items] | |||||
Total | 13,954 | 13,229 | |||
Other countries [Member] | at amortized cost [Member] | |||||
Credit Risk Profile by Region [Line Items] | |||||
Loans | 6,926 | [1] | 6,286 | [2] | |
Debt securities | 49 | [3] | 0 | [4] | |
Repo and repo-style transactions | [5] | 268 | 223 | ||
Other countries [Member] | at fair value through P/L [Member] | |||||
Credit Risk Profile by Region [Line Items] | |||||
Loans | 931 | 734 | |||
OTC derivatives | [6] | 163 | 460 | ||
Debt securities | 2,037 | 2,107 | |||
Repo and repo-style transactions | [5] | 72 | 37 | ||
Other countries [Member] | Designated / mandatory at fair value through P/L [Member] | |||||
Credit Risk Profile by Region [Line Items] | |||||
Loans | 16 | 31 | |||
Other countries [Member] | at fair value through OCI [Member] | |||||
Credit Risk Profile by Region [Line Items] | |||||
Loans | 71 | [7] | 133 | [8] | |
Debt securities | 384 | [9] | 216 | [10] | |
Repo and repo-style transactions | [5] | 240 | 399 | ||
Other countries [Member] | Revocable and irrevocable lending commitments [Member] | |||||
Credit Risk Profile by Region [Line Items] | |||||
Off-balance sheet | 1,414 | [11] | 1,545 | [12] | |
Other countries [Member] | Contingent liabilities [Member] | |||||
Credit Risk Profile by Region [Line Items] | |||||
Off-balance sheet | € 1,383 | € 1,059 | |||
[1] | Includes stage 3 and stage 3 POCI loans at amortized cost amounting to € 12.4 billion | ||||
[2] | Includes stage 3 and stage 3 POCI loans at amortized cost amounting to € 11.9 billion | ||||
[3] | Includes stage 3 and stage 3 POCI debt securities at amortized cost amounting to € 368.2 million | ||||
[4] | Includes stage 3 and stage 3 POCI debt securities at amortized cost amounting to € 360.4 million | ||||
[5] | Before reflection of collateral and limited to securities purchased under resale agreements and securities borrowed. | ||||
[6] | Includes the effect of netting agreements and cash collateral received where applicable. Excludes derivatives qualifying for hedge accounting. | ||||
[7] | Includes stage 3 and stage 3 POCI loans at fair value through OCI amounting to € 28.1 million | ||||
[8] | Includes stage 3 and stage 3 POCI loans at fair value through OCI amounting to € 90.3 million | ||||
[9] | Includes stage 3 and stage 3 POCI debt securities at fair value through OCI amounting to € 15.8 million | ||||
[10] | Includes stage 3 and stage 3 POCI debt securities at fair value through OCI amounting to € 15.1 million | ||||
[11] | Includes stage 3 and stage 3 POCI off-balance sheet exposure amounting to € 2.6 billion | ||||
[12] | Includes stage 3 and stage 3 POCI off-balance sheet exposure amounting to € 2.6 billion |
Risk Report - Asset Quality - F
Risk Report - Asset Quality - Financial Assets subject to impairment - Development of exposures in the reporting period, Gross Carrying Amount (Detail) - Gross Carrying Amount [Member] - EUR (€) € in Millions | 12 Months Ended | ||||
Dec. 31, 2021 | Dec. 31, 2020 | ||||
Development of exposures and allowance for credit losses in the reporting period [Line Items] | |||||
Balance, beginning of year | € 699,393 | [1],[2] | € 680,328 | ||
Movements in financial assets including new business | 87,330 | [3],[4] | 90,637 | [1],[2] | |
Transfers due to changes in creditworthiness | 0 | [3],[4] | 0 | [1],[2] | |
Changes due to modifications that did not result in derecognition | (17) | [3],[4] | (34) | [1],[2] | |
Changes in models | [1],[2] | 0 | |||
Financial assets that have been derecognized during the period | (37,691) | [3],[4],[5] | (53,430) | [1],[2] | |
Recovery of written off amounts | 78 | [3],[4] | 58 | [1],[2] | |
Foreign exchange and other changes | 15,204 | [3],[4] | (18,165) | [1],[2] | |
Balance, end of the reporting period | 764,298 | [3],[4] | 699,393 | [1],[2] | |
Stage 1 [Member] | |||||
Development of exposures and allowance for credit losses in the reporting period [Line Items] | |||||
Balance, beginning of year | 651,637 | [1],[2] | 645,967 | ||
Movements in financial assets including new business | 79,619 | [3],[4] | 79,284 | [1],[2] | |
Transfers due to changes in creditworthiness | (155) | [3],[4] | (7,462) | [1],[2] | |
Changes due to modifications that did not result in derecognition | (1) | [3],[4] | 0 | [1],[2] | |
Changes in models | [1],[2] | 0 | |||
Financial assets that have been derecognized during the period | (34,157) | [3],[4],[5] | (48,990) | [1],[2] | |
Recovery of written off amounts | 0 | [3],[4] | 0 | [1],[2] | |
Foreign exchange and other changes | 14,078 | [3],[4] | (17,162) | [1],[2] | |
Balance, end of the reporting period | 711,021 | [3],[4] | 651,637 | [1],[2] | |
Stage 2 [Member] | |||||
Development of exposures and allowance for credit losses in the reporting period [Line Items] | |||||
Balance, beginning of year | 35,372 | [1],[2] | 24,680 | ||
Movements in financial assets including new business | 7,507 | [3],[4] | 8,215 | [1],[2] | |
Transfers due to changes in creditworthiness | (1,109) | [3],[4] | 5,543 | [1],[2] | |
Changes due to modifications that did not result in derecognition | 0 | [3],[4] | (3) | [1],[2] | |
Changes in models | [1],[2] | 0 | |||
Financial assets that have been derecognized during the period | (1,891) | [3],[4],[5] | (2,268) | [1],[2] | |
Recovery of written off amounts | 0 | [3],[4] | 0 | [1],[2] | |
Foreign exchange and other changes | 774 | [3],[4] | (795) | [1],[2] | |
Balance, end of the reporting period | 40,653 | [3],[4] | 35,372 | [1],[2] | |
Stage 3 [Member] | |||||
Development of exposures and allowance for credit losses in the reporting period [Line Items] | |||||
Balance, beginning of year | 10,655 | [1],[2] | 7,531 | ||
Movements in financial assets including new business | 305 | [3],[4] | 3,304 | [1],[2] | |
Transfers due to changes in creditworthiness | 1,264 | [3],[4] | 1,919 | [1],[2] | |
Changes due to modifications that did not result in derecognition | (16) | [3],[4] | (31) | [1],[2] | |
Changes in models | [1],[2] | 0 | |||
Financial assets that have been derecognized during the period | (1,271) | [3],[4],[5] | (1,910) | [1],[2] | |
Recovery of written off amounts | 55 | [3],[4] | 58 | [1],[2] | |
Foreign exchange and other changes | 333 | [3],[4] | (216) | [1],[2] | |
Balance, end of the reporting period | 11,326 | [3],[4] | 10,655 | [1],[2] | |
Stage 3 POCI [Member] | |||||
Development of exposures and allowance for credit losses in the reporting period [Line Items] | |||||
Balance, beginning of year | 1,729 | [1],[2],[6],[7] | 2,150 | ||
Movements in financial assets including new business | (101) | [3],[4],[8] | (166) | [1],[2],[6],[7] | |
Transfers due to changes in creditworthiness | [1],[2],[6],[7] | 0 | |||
Changes due to modifications that did not result in derecognition | 0 | [3],[4],[8] | 0 | [1],[2],[6],[7] | |
Changes in models | [1],[2],[6],[7] | 0 | |||
Financial assets that have been derecognized during the period | (372) | [3],[4],[5],[8] | (263) | [1],[2],[6],[7] | |
Recovery of written off amounts | 23 | [3],[4],[8] | 0 | [1],[2],[6],[7] | |
Foreign exchange and other changes | 19 | [3],[4],[8] | 7 | [1],[2],[6],[7] | |
Balance, end of the reporting period | € 1,297 | [3],[4],[8] | € 1,729 | [1],[2],[6],[7] | |
[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 € 5 million | ||||
[3] | Allowance for credit losses does not include allowance for country risk amounting to € 4 million | ||||
[4] | Allowance for credit losses does not include allowance for country risk amounting to € 4 million | ||||
[5] | This position includes charge offs of allowance for credit losses. | ||||
[6] | The total amount of undiscounted expected credit losses at initial recognition on financial assets that are purchased or originated credit-impaired initially recognized during the reporting period was € 50 million € 0 million | ||||
[7] | The total amount of undiscounted expected credit losses at initial recognition on financial assets that are purchased or originated credit-impaired initially recognized during the reporting period was € 50 million € 0 million | ||||
[8] | The total amount of undiscounted expected credit losses at initial recognition on financial assets that are purchased or originated credit-impaired initially recognized during the reporting period was € 0 million € 50 million |
Risk Report - Asset Quality -_2
Risk Report - Asset Quality - Financial Assets at amortized Cost (Detail: Text Values) - EUR (€) € in Millions | Dec. 31, 2021 | Dec. 31, 2020 |
Financial assets at amortized cost subject to impairment [Abstract] | ||
YoY increase (decrease) primarily driven by Stage 2 | € 64,000 | |
YoY increase (decrease) primarily driven by Stage 2, in percent | 9.00% | |
YoY increase (decrease) of Stage 1 exposures | € 58,000 | € 19,000 |
YoY increase (decrease) of Stage 1 exposures, in percent | 9.00% | 3.00% |
YoY increase (decrease) of Stage 2 exposures driven by Brokerage cash margin receivables in IB and Loans at amortized cost in CB | € 5,000 | |
YoY increase (decrease) of Stage 2 exposures driven by Brokerage cash margin receivables in IB and Loans at amortized cost in CB, in percent | 15.00% | |
YoY increase (decrease) of Stage 1 exposures driven by Cash and central bank balances due to reductions in deposits and short-term borrowings | € 6,000 | |
YoY increase (decrease) of Stage 1 exposures driven by Cash and central bank balances due to reductions in deposits and short-term borrowings, in percent | 1.00% | |
YoY increase (decrease) of Stage 2 exposures driven by Loans at amortized cost in former CIB | € 11,000 | |
YoY increase (decrease) of Stage 2 exposures driven by Loans at amortized cost in former CIB, in percent | 43.00% | |
YoY increase (decrease) of Stage 3 exposures driven by new defaults across business divisions, partly offset by a reduction in the POCI loan portfolio | € 240 | |
YoY increase (decrease) of Stage 3 exposures driven by new defaults across business divisions, partly offset by a reduction in the POCI loan portfolio, in percent | 2.00% | |
YoY increase (decrease) of Stage 3 exposures driven by former CIB, mainly reflecting de-risking activities in our shipping portfolio new defaults across business divisions, partly offset by increase in former PCB driven by the former Postbank business | € 2,703 | |
YoY increase (decrease) of Stage 3 exposures driven by former CIB, mainly reflecting de-risking activities in our shipping portfolio new defaults across business divisions, partly offset by increase in former PCB driven by the former Postbank business, in percent | 28.00% | |
Allowance for credit losses against financial assets at amortized cost subject to impairment [Abstract] | ||
YoY increase (decrease) mainly driven by Stage 3 | € 51 | € 853 |
YoY increase (decrease) mainly driven by Stage 3, in percent | 1.00% | 21.00% |
YoY increase decrease of Stage 1 allowances driven by an increase in Loans at Amortized Cost in Investment Bank and Private Bank | € 5 | |
YoY increase decrease of Stage 1 allowances driven by an increase in Loans at Amortized Cost in Investment Bank and Private Bank, in percent | 1.00% | |
YoY increase (decrease) of Stage 1 allowances | € 104 | |
YoY increase (decrease) of Stage 1 allowances, in percent | 19.00% | |
YoY increase (decrease) of Stage 2 allowances | € 156 | |
YoY increase (decrease) of Stage 2 allowances, in percent | 32.00% | |
YoY increase (decrease) of Stage 2 allowances due to the update of the macroeconomic outlook | € 117 | |
YoY increase (decrease) of Stage 2 allowances due to the update of the macroeconomic outlook, in percent | 18.00% | |
YoY increase (decrease) of Stage 3 allowances driven by new defaults across business divisions and the increase against the existing POCI loan portfolio | € 169 | |
YoY increase (decrease) of Stage 3 allowances driven by new defaults across business divisions and the increase against the existing POCI loan portfolio, in percent | 5.00% | |
YoY increase (decrease) of Stage 3 allowances driven by former CIB, where charge offs partly related to de-risking activities in our shipping portfolio overcompensated additional provisions | € 702 | |
YoY increase (decrease) of Stage 3 allowances driven by former CIB, where charge offs partly related to de-risking activities in our shipping portfolio overcompensated additional provisions, in percent | 23.00% | |
Existing commitments to lend additional funds to debtors with Stage 3 financial assets at amortized cost | € 384 | € 446 |
YoY increase (decrease) of collateral and guarantees held against financial assets as amortized cost in stage 3 driven by PB | € 325 | |
YoY increase (decrease) of collateral and guarantees held against financial assets as amortized cost in Stage 3 driven by PB, in percent | 8.00% | |
Not recognize allowance for credit losses against Financial assets at amortized cost in Stage 3 | € 1,130 | € 625 |
Stage 3 coverage ratio (defined as Allowance for credit losses in Stage 3 (excluding POCI) divided by Financial assets at amortized cost in Stage 3 (excluding POCI), in percent | 33.00% | 34.00% |
Risk Report - Asset Quality -_3
Risk Report - Asset Quality - Financial Assets at amortized cost by Business Division (Detail) - EUR (€) € in Millions | Dec. 31, 2021 | Dec. 31, 2020 | |
Total Consolidated Segments [Domain Member] | |||
Amortized Cost Exposures by Business Division [Line Items] | |||
Gross Carrying Amount | € 764,298 | [1] | € 699,393 |
Allowance for Credit Losses | 4,895 | 4,946 | |
Total Consolidated Segments [Domain Member] | Stage 1 [Member] | |||
Amortized Cost Exposures by Business Division [Line Items] | |||
Gross Carrying Amount | 711,021 | [1] | 651,637 |
Allowance for Credit Losses | 440 | 544 | |
Total Consolidated Segments [Domain Member] | Stage 2 [Member] | |||
Amortized Cost Exposures by Business Division [Line Items] | |||
Gross Carrying Amount | 40,653 | [1] | 35,372 |
Allowance for Credit Losses | 532 | 648 | |
Total Consolidated Segments [Domain Member] | Stage 3 [Member] | |||
Amortized Cost Exposures by Business Division [Line Items] | |||
Gross Carrying Amount | 11,326 | [1] | 10,655 |
Allowance for Credit Losses | 3,740 | 3,614 | |
Total Consolidated Segments [Domain Member] | Stage 3 POCI [Member] | |||
Amortized Cost Exposures by Business Division [Line Items] | |||
Gross Carrying Amount | 1,297 | [1] | 1,729 |
Allowance for Credit Losses | 182 | 139 | |
Corporate Bank [Member] | |||
Amortized Cost Exposures by Business Division [Line Items] | |||
Gross Carrying Amount | 128,611 | [1] | 119,537 |
Allowance for Credit Losses | 1,040 | 1,244 | |
Corporate Bank [Member] | Stage 1 [Member] | |||
Amortized Cost Exposures by Business Division [Line Items] | |||
Gross Carrying Amount | 116,332 | [1] | 109,484 |
Allowance for Credit Losses | 56 | 85 | |
Corporate Bank [Member] | Stage 2 [Member] | |||
Amortized Cost Exposures by Business Division [Line Items] | |||
Gross Carrying Amount | 10,165 | [1] | 7,747 |
Allowance for Credit Losses | 83 | 106 | |
Corporate Bank [Member] | Stage 3 [Member] | |||
Amortized Cost Exposures by Business Division [Line Items] | |||
Gross Carrying Amount | 2,113 | [1] | 2,305 |
Allowance for Credit Losses | 901 | 1,052 | |
Corporate Bank [Member] | Stage 3 POCI [Member] | |||
Amortized Cost Exposures by Business Division [Line Items] | |||
Gross Carrying Amount | 0 | [1] | 0 |
Allowance for Credit Losses | 0 | 0 | |
Investment Bank [Member] | |||
Amortized Cost Exposures by Business Division [Line Items] | |||
Gross Carrying Amount | 160,711 | [1] | 143,948 |
Allowance for Credit Losses | 723 | 659 | |
Investment Bank [Member] | Stage 1 [Member] | |||
Amortized Cost Exposures by Business Division [Line Items] | |||
Gross Carrying Amount | 147,177 | [1] | 134,634 |
Allowance for Credit Losses | 106 | 139 | |
Investment Bank [Member] | Stage 2 [Member] | |||
Amortized Cost Exposures by Business Division [Line Items] | |||
Gross Carrying Amount | 9,783 | [1] | 5,832 |
Allowance for Credit Losses | 78 | 92 | |
Investment Bank [Member] | Stage 3 [Member] | |||
Amortized Cost Exposures by Business Division [Line Items] | |||
Gross Carrying Amount | 2,487 | [1] | 2,023 |
Allowance for Credit Losses | 356 | 290 | |
Investment Bank [Member] | Stage 3 POCI [Member] | |||
Amortized Cost Exposures by Business Division [Line Items] | |||
Gross Carrying Amount | 1,264 | [1] | 1,459 |
Allowance for Credit Losses | 182 | 139 | |
Private Bank [Member] | |||
Amortized Cost Exposures by Business Division [Line Items] | |||
Gross Carrying Amount | 261,122 | [1] | 243,964 |
Allowance for Credit Losses | 3,018 | 2,855 | |
Private Bank [Member] | Stage 1 [Member] | |||
Amortized Cost Exposures by Business Division [Line Items] | |||
Gross Carrying Amount | 235,067 | [1] | 216,412 |
Allowance for Credit Losses | 269 | 311 | |
Private Bank [Member] | Stage 2 [Member] | |||
Amortized Cost Exposures by Business Division [Line Items] | |||
Gross Carrying Amount | 19,526 | [1] | 21,328 |
Allowance for Credit Losses | 365 | 446 | |
Private Bank [Member] | Stage 3 [Member] | |||
Amortized Cost Exposures by Business Division [Line Items] | |||
Gross Carrying Amount | 6,496 | [1] | 5,954 |
Allowance for Credit Losses | 2,383 | 2,098 | |
Private Bank [Member] | Stage 3 POCI [Member] | |||
Amortized Cost Exposures by Business Division [Line Items] | |||
Gross Carrying Amount | 33 | [1] | 270 |
Allowance for Credit Losses | 0 | 0 | |
Asset Management [Member] | |||
Amortized Cost Exposures by Business Division [Line Items] | |||
Gross Carrying Amount | 2,276 | [1] | 2,188 |
Allowance for Credit Losses | 2 | 1 | |
Asset Management [Member] | Stage 1 [Member] | |||
Amortized Cost Exposures by Business Division [Line Items] | |||
Gross Carrying Amount | 2,218 | [1] | 2,131 |
Allowance for Credit Losses | 1 | 1 | |
Asset Management [Member] | Stage 2 [Member] | |||
Amortized Cost Exposures by Business Division [Line Items] | |||
Gross Carrying Amount | 58 | [1] | 57 |
Allowance for Credit Losses | 1 | 1 | |
Asset Management [Member] | Stage 3 [Member] | |||
Amortized Cost Exposures by Business Division [Line Items] | |||
Gross Carrying Amount | 0 | [1] | 0 |
Allowance for Credit Losses | 0 | 0 | |
Asset Management [Member] | Stage 3 POCI [Member] | |||
Amortized Cost Exposures by Business Division [Line Items] | |||
Gross Carrying Amount | 0 | [1] | 0 |
Allowance for Credit Losses | 0 | 0 | |
Capital Release Unit [Member] | |||
Amortized Cost Exposures by Business Division [Line Items] | |||
Gross Carrying Amount | 3,165 | [1] | 5,138 |
Allowance for Credit Losses | 103 | 182 | |
Capital Release Unit [Member] | Stage 1 [Member] | |||
Amortized Cost Exposures by Business Division [Line Items] | |||
Gross Carrying Amount | 2,743 | [1] | 4,463 |
Allowance for Credit Losses | 2 | 4 | |
Capital Release Unit [Member] | Stage 2 [Member] | |||
Amortized Cost Exposures by Business Division [Line Items] | |||
Gross Carrying Amount | 210 | [1] | 303 |
Allowance for Credit Losses | 1 | 4 | |
Capital Release Unit [Member] | Stage 3 [Member] | |||
Amortized Cost Exposures by Business Division [Line Items] | |||
Gross Carrying Amount | 212 | [1] | 372 |
Allowance for Credit Losses | 99 | 174 | |
Capital Release Unit [Member] | Stage 3 POCI [Member] | |||
Amortized Cost Exposures by Business Division [Line Items] | |||
Gross Carrying Amount | 0 | [1] | 0 |
Allowance for Credit Losses | 0 | 0 | |
Corporate & Other [Member] | |||
Amortized Cost Exposures by Business Division [Line Items] | |||
Gross Carrying Amount | 208,413 | [1] | 184,618 |
Allowance for Credit Losses | 10 | 5 | |
Corporate & Other [Member] | Stage 1 [Member] | |||
Amortized Cost Exposures by Business Division [Line Items] | |||
Gross Carrying Amount | 207,485 | [1] | 184,512 |
Allowance for Credit Losses | 6 | 5 | |
Corporate & Other [Member] | Stage 2 [Member] | |||
Amortized Cost Exposures by Business Division [Line Items] | |||
Gross Carrying Amount | 910 | [1] | 105 |
Allowance for Credit Losses | 3 | 0 | |
Corporate & Other [Member] | Stage 3 [Member] | |||
Amortized Cost Exposures by Business Division [Line Items] | |||
Gross Carrying Amount | 18 | [1] | 1 |
Allowance for Credit Losses | 1 | 0 | |
Corporate & Other [Member] | Stage 3 POCI [Member] | |||
Amortized Cost Exposures by Business Division [Line Items] | |||
Gross Carrying Amount | 0 | [1] | 0 |
Allowance for Credit Losses | € 0 | € 0 | |
[1] | Gross Carrying Amount numbers per business division are reported after a reallocation of cash balances from business divisions to Corporate & Other. |
Risk Report - Asset Quality -_4
Risk Report - Asset Quality - Financial Assets at amortized cost and Allowances by Industry Sector (Detail) - EUR (€) € in Millions | Dec. 31, 2021 | Dec. 31, 2020 |
Gross Carrying Value [Member] | ||
Financial Assets and Allowance at Amortized Cost by Industry Sector [Line Items] | ||
Agriculture, forestry and fishing | € 646 | € 646 |
Mining and quarrying | 2,929 | 3,085 |
Manufacturing | 36,296 | 26,925 |
Electricity, gas, steam and air conditioning supply | 4,705 | 3,661 |
Water supply, sewerage, waste management and remediation activities | 680 | 681 |
Construction | 4,446 | 4,450 |
Wholesale and retail trade, repair of motor vehicles and motorcycles | 21,717 | 20,991 |
Transport and storage | 5,782 | 5,869 |
Accommodation and food service activities | 2,265 | 2,429 |
Information and communication | 6,860 | 5,820 |
Financial and insurance activities | 368,832 | 324,996 |
Real estate activities | 41,551 | 42,200 |
Professional, scientific and technical activities | 7,027 | 7,765 |
Administrative and support service activities | 11,736 | 10,787 |
Public administration and defense, compulsory social security | 20,295 | 17,469 |
Education | 228 | 205 |
Human health services and social work activities | 4,056 | 3,468 |
Arts, entertainment and recreation | 1,073 | 961 |
Other service activities | 9,850 | 11,766 |
Activities of households as employers, undifferentiated goods- and services-producing activities of households for own use | 213,282 | 205,164 |
Activities of extraterritorial organizations and bodies | 41 | 53 |
Total | 764,298 | 699,393 |
Allowance for Credit Losses | ||
Financial Assets and Allowance at Amortized Cost by Industry Sector [Line Items] | ||
Agriculture, forestry and fishing | 12 | 14 |
Mining and quarrying | 17 | 106 |
Manufacturing | 543 | 557 |
Electricity, gas, steam and air conditioning supply | 45 | 40 |
Water supply, sewerage, waste management and remediation activities | 11 | 12 |
Construction | 190 | 212 |
Wholesale and retail trade, repair of motor vehicles and motorcycles | 436 | 558 |
Transport and storage | 96 | 131 |
Accommodation and food service activities | 70 | 35 |
Information and communication | 112 | 111 |
Financial and insurance activities | 519 | 474 |
Real estate activities | 190 | 190 |
Professional, scientific and technical activities | 122 | 125 |
Administrative and support service activities | 167 | 125 |
Public administration and defense, compulsory social security | 21 | 24 |
Education | 3 | 2 |
Human health services and social work activities | 28 | 17 |
Arts, entertainment and recreation | 8 | 8 |
Other service activities | 107 | 86 |
Activities of households as employers, undifferentiated goods- and services-producing activities of households for own use | 2,196 | 2,120 |
Activities of extraterritorial organizations and bodies | 1 | 1 |
Total | 4,895 | 4,946 |
Stage 1 [Member] | Gross Carrying Value [Member] | ||
Financial Assets and Allowance at Amortized Cost by Industry Sector [Line Items] | ||
Agriculture, forestry and fishing | 544 | 538 |
Mining and quarrying | 2,771 | 2,808 |
Manufacturing | 31,776 | 23,245 |
Electricity, gas, steam and air conditioning supply | 4,414 | 3,268 |
Water supply, sewerage, waste management and remediation activities | 580 | 573 |
Construction | 3,672 | 3,706 |
Wholesale and retail trade, repair of motor vehicles and motorcycles | 19,582 | 19,049 |
Transport and storage | 4,513 | 4,760 |
Accommodation and food service activities | 1,356 | 1,871 |
Information and communication | 6,431 | 5,482 |
Financial and insurance activities | 359,874 | 316,950 |
Real estate activities | 34,827 | 38,993 |
Professional, scientific and technical activities | 6,017 | 6,295 |
Administrative and support service activities | 9,477 | 8,966 |
Public administration and defense, compulsory social security | 18,174 | 16,648 |
Education | 190 | 179 |
Human health services and social work activities | 3,620 | 3,104 |
Arts, entertainment and recreation | 690 | 874 |
Other service activities | 8,564 | 10,548 |
Activities of households as employers, undifferentiated goods- and services-producing activities of households for own use | 193,909 | 183,728 |
Activities of extraterritorial organizations and bodies | 40 | 52 |
Total | 711,021 | 651,637 |
Stage 1 [Member] | Allowance for Credit Losses | ||
Financial Assets and Allowance at Amortized Cost by Industry Sector [Line Items] | ||
Agriculture, forestry and fishing | 1 | 1 |
Mining and quarrying | 3 | 4 |
Manufacturing | 24 | 32 |
Electricity, gas, steam and air conditioning supply | 2 | 3 |
Water supply, sewerage, waste management and remediation activities | 1 | 1 |
Construction | 8 | 6 |
Wholesale and retail trade, repair of motor vehicles and motorcycles | 18 | 21 |
Transport and storage | 12 | 20 |
Accommodation and food service activities | 1 | 5 |
Information and communication | 10 | 12 |
Financial and insurance activities | 94 | 88 |
Real estate activities | 16 | 32 |
Professional, scientific and technical activities | 6 | 8 |
Administrative and support service activities | 11 | 14 |
Public administration and defense, compulsory social security | 5 | 8 |
Education | 0 | 0 |
Human health services and social work activities | 4 | 4 |
Arts, entertainment and recreation | 2 | 3 |
Other service activities | 6 | 13 |
Activities of households as employers, undifferentiated goods- and services-producing activities of households for own use | 218 | 270 |
Activities of extraterritorial organizations and bodies | 0 | 0 |
Total | 440 | 544 |
Stage 2 [Member] | Gross Carrying Value [Member] | ||
Financial Assets and Allowance at Amortized Cost by Industry Sector [Line Items] | ||
Agriculture, forestry and fishing | 73 | 69 |
Mining and quarrying | 95 | 115 |
Manufacturing | 3,466 | 2,518 |
Electricity, gas, steam and air conditioning supply | 174 | 276 |
Water supply, sewerage, waste management and remediation activities | 51 | 52 |
Construction | 375 | 304 |
Wholesale and retail trade, repair of motor vehicles and motorcycles | 1,355 | 1,066 |
Transport and storage | 862 | 710 |
Accommodation and food service activities | 769 | 445 |
Information and communication | 257 | 207 |
Financial and insurance activities | 6,711 | 6,336 |
Real estate activities | 5,339 | 2,089 |
Professional, scientific and technical activities | 751 | 1,049 |
Administrative and support service activities | 1,767 | 1,365 |
Public administration and defense, compulsory social security | 2,073 | 593 |
Education | 34 | 23 |
Human health services and social work activities | 331 | 347 |
Arts, entertainment and recreation | 371 | 78 |
Other service activities | 920 | 823 |
Activities of households as employers, undifferentiated goods- and services-producing activities of households for own use | 14,880 | 16,906 |
Activities of extraterritorial organizations and bodies | 0 | 0 |
Total | 40,653 | 35,372 |
Stage 2 [Member] | Allowance for Credit Losses | ||
Financial Assets and Allowance at Amortized Cost by Industry Sector [Line Items] | ||
Agriculture, forestry and fishing | 1 | 1 |
Mining and quarrying | 0 | 4 |
Manufacturing | 36 | 42 |
Electricity, gas, steam and air conditioning supply | 2 | 2 |
Water supply, sewerage, waste management and remediation activities | 2 | 2 |
Construction | 5 | 7 |
Wholesale and retail trade, repair of motor vehicles and motorcycles | 19 | 20 |
Transport and storage | 12 | 18 |
Accommodation and food service activities | 9 | 8 |
Information and communication | 4 | 4 |
Financial and insurance activities | 48 | 64 |
Real estate activities | 22 | 22 |
Professional, scientific and technical activities | 9 | 15 |
Administrative and support service activities | 21 | 22 |
Public administration and defense, compulsory social security | 11 | 5 |
Education | 1 | 1 |
Human health services and social work activities | 6 | 6 |
Arts, entertainment and recreation | 3 | 1 |
Other service activities | 12 | 12 |
Activities of households as employers, undifferentiated goods- and services-producing activities of households for own use | 309 | 393 |
Activities of extraterritorial organizations and bodies | 0 | 0 |
Total | 532 | 648 |
Stage 3 [Member] | Gross Carrying Value [Member] | ||
Financial Assets and Allowance at Amortized Cost by Industry Sector [Line Items] | ||
Agriculture, forestry and fishing | 29 | 39 |
Mining and quarrying | 63 | 162 |
Manufacturing | 957 | 1,024 |
Electricity, gas, steam and air conditioning supply | 117 | 117 |
Water supply, sewerage, waste management and remediation activities | 50 | 57 |
Construction | 271 | 271 |
Wholesale and retail trade, repair of motor vehicles and motorcycles | 747 | 830 |
Transport and storage | 378 | 387 |
Accommodation and food service activities | 122 | 90 |
Information and communication | 157 | 131 |
Financial and insurance activities | 1,756 | 1,159 |
Real estate activities | 1,115 | 824 |
Professional, scientific and technical activities | 225 | 223 |
Administrative and support service activities | 467 | 409 |
Public administration and defense, compulsory social security | 49 | 229 |
Education | 5 | 3 |
Human health services and social work activities | 105 | 15 |
Arts, entertainment and recreation | 11 | 9 |
Other service activities | 225 | 180 |
Activities of households as employers, undifferentiated goods- and services-producing activities of households for own use | 4,477 | 4,496 |
Activities of extraterritorial organizations and bodies | 1 | 1 |
Total | 11,326 | 10,655 |
Stage 3 [Member] | Allowance for Credit Losses | ||
Financial Assets and Allowance at Amortized Cost by Industry Sector [Line Items] | ||
Agriculture, forestry and fishing | 11 | 12 |
Mining and quarrying | 13 | 98 |
Manufacturing | 481 | 479 |
Electricity, gas, steam and air conditioning supply | 41 | 35 |
Water supply, sewerage, waste management and remediation activities | 8 | 9 |
Construction | 178 | 193 |
Wholesale and retail trade, repair of motor vehicles and motorcycles | 397 | 516 |
Transport and storage | 72 | 93 |
Accommodation and food service activities | 62 | 22 |
Information and communication | 98 | 95 |
Financial and insurance activities | 322 | 285 |
Real estate activities | 97 | 94 |
Professional, scientific and technical activities | 107 | 97 |
Administrative and support service activities | 132 | 88 |
Public administration and defense, compulsory social security | 5 | 11 |
Education | 2 | 1 |
Human health services and social work activities | 18 | 7 |
Arts, entertainment and recreation | 3 | 3 |
Other service activities | 39 | 21 |
Activities of households as employers, undifferentiated goods- and services-producing activities of households for own use | 1,653 | 1,453 |
Activities of extraterritorial organizations and bodies | 1 | 1 |
Total | 3,740 | 3,614 |
Stage 3 POCI [Member] | Gross Carrying Value [Member] | ||
Financial Assets and Allowance at Amortized Cost by Industry Sector [Line Items] | ||
Agriculture, forestry and fishing | 0 | 0 |
Mining and quarrying | 0 | 0 |
Manufacturing | 97 | 138 |
Electricity, gas, steam and air conditioning supply | 0 | 0 |
Water supply, sewerage, waste management and remediation activities | 0 | 0 |
Construction | 128 | 169 |
Wholesale and retail trade, repair of motor vehicles and motorcycles | 32 | 46 |
Transport and storage | 29 | 12 |
Accommodation and food service activities | 18 | 24 |
Information and communication | 16 | 0 |
Financial and insurance activities | 491 | 551 |
Real estate activities | 271 | 293 |
Professional, scientific and technical activities | 34 | 198 |
Administrative and support service activities | 24 | 47 |
Public administration and defense, compulsory social security | 0 | 0 |
Education | 0 | 0 |
Human health services and social work activities | 0 | 1 |
Arts, entertainment and recreation | 1 | 1 |
Other service activities | 140 | 215 |
Activities of households as employers, undifferentiated goods- and services-producing activities of households for own use | 16 | 34 |
Activities of extraterritorial organizations and bodies | 0 | 0 |
Total | 1,297 | 1,729 |
Stage 3 POCI [Member] | Allowance for Credit Losses | ||
Financial Assets and Allowance at Amortized Cost by Industry Sector [Line Items] | ||
Agriculture, forestry and fishing | 0 | 0 |
Mining and quarrying | 0 | 0 |
Manufacturing | 3 | 3 |
Electricity, gas, steam and air conditioning supply | 0 | 0 |
Water supply, sewerage, waste management and remediation activities | 0 | 0 |
Construction | (1) | 6 |
Wholesale and retail trade, repair of motor vehicles and motorcycles | 3 | 2 |
Transport and storage | 0 | 0 |
Accommodation and food service activities | (2) | 0 |
Information and communication | 0 | 0 |
Financial and insurance activities | 54 | 37 |
Real estate activities | 55 | 42 |
Professional, scientific and technical activities | 0 | 5 |
Administrative and support service activities | 4 | 1 |
Public administration and defense, compulsory social security | 0 | 0 |
Education | 0 | 0 |
Human health services and social work activities | 0 | 0 |
Arts, entertainment and recreation | 1 | 0 |
Other service activities | 49 | 40 |
Activities of households as employers, undifferentiated goods- and services-producing activities of households for own use | 16 | 2 |
Activities of extraterritorial organizations and bodies | 0 | 0 |
Total | € 182 | € 139 |
Risk Report - Asset Quality -_5
Risk Report - Asset Quality - Financial Assets at amortized cost and Allowances by Region (Detail) - EUR (€) € in Millions | Dec. 31, 2021 | Dec. 31, 2020 |
Financial Assets and Allowance by Region [Line Items] | ||
Gross Carrying Amount | € 764,298 | € 699,393 |
Allowance for Credit Losses | 4,895 | 4,946 |
Stage 1 [Member] | ||
Financial Assets and Allowance by Region [Line Items] | ||
Gross Carrying Amount | 711,021 | 651,637 |
Allowance for Credit Losses | 440 | 544 |
Stage 2 [Member] | ||
Financial Assets and Allowance by Region [Line Items] | ||
Gross Carrying Amount | 40,653 | 35,372 |
Allowance for Credit Losses | 532 | 648 |
Stage 3 [Member] | ||
Financial Assets and Allowance by Region [Line Items] | ||
Gross Carrying Amount | 11,326 | 10,655 |
Allowance for Credit Losses | 3,740 | 3,614 |
Stage 3 POCI [Member] | ||
Financial Assets and Allowance by Region [Line Items] | ||
Gross Carrying Amount | 1,297 | 1,729 |
Allowance for Credit Losses | 182 | 139 |
Germany [Member] | ||
Financial Assets and Allowance by Region [Line Items] | ||
Gross Carrying Amount | 338,773 | 315,580 |
Allowance for Credit Losses | 2,156 | 2,098 |
Germany [Member] | Stage 1 [Member] | ||
Financial Assets and Allowance by Region [Line Items] | ||
Gross Carrying Amount | 317,217 | 293,760 |
Allowance for Credit Losses | 191 | 252 |
Germany [Member] | Stage 2 [Member] | ||
Financial Assets and Allowance by Region [Line Items] | ||
Gross Carrying Amount | 17,941 | 17,709 |
Allowance for Credit Losses | 298 | 356 |
Germany [Member] | Stage 3 [Member] | ||
Financial Assets and Allowance by Region [Line Items] | ||
Gross Carrying Amount | 3,581 | 3,840 |
Allowance for Credit Losses | 1,653 | 1,438 |
Germany [Member] | Stage 3 POCI [Member] | ||
Financial Assets and Allowance by Region [Line Items] | ||
Gross Carrying Amount | 33 | 270 |
Allowance for Credit Losses | 14 | 52 |
Western Europe (excluding Germany) [Member] | ||
Financial Assets and Allowance by Region [Line Items] | ||
Gross Carrying Amount | 148,000 | 142,522 |
Allowance for Credit Losses | 2,050 | 2,048 |
Western Europe (excluding Germany) [Member] | Stage 1 [Member] | ||
Financial Assets and Allowance by Region [Line Items] | ||
Gross Carrying Amount | 134,187 | 130,592 |
Allowance for Credit Losses | 134 | 152 |
Western Europe (excluding Germany) [Member] | Stage 2 [Member] | ||
Financial Assets and Allowance by Region [Line Items] | ||
Gross Carrying Amount | 9,224 | 7,639 |
Allowance for Credit Losses | 156 | 215 |
Western Europe (excluding Germany) [Member] | Stage 3 [Member] | ||
Financial Assets and Allowance by Region [Line Items] | ||
Gross Carrying Amount | 3,652 | 3,188 |
Allowance for Credit Losses | 1,610 | 1,603 |
Western Europe (excluding Germany) [Member] | Stage 3 POCI [Member] | ||
Financial Assets and Allowance by Region [Line Items] | ||
Gross Carrying Amount | 937 | 1,103 |
Allowance for Credit Losses | 150 | 77 |
Eastern Europe [Member] | ||
Financial Assets and Allowance by Region [Line Items] | ||
Gross Carrying Amount | 7,412 | 5,480 |
Allowance for Credit Losses | 59 | 51 |
Eastern Europe [Member] | Stage 1 [Member] | ||
Financial Assets and Allowance by Region [Line Items] | ||
Gross Carrying Amount | 6,818 | 5,175 |
Allowance for Credit Losses | 2 | 7 |
Eastern Europe [Member] | Stage 2 [Member] | ||
Financial Assets and Allowance by Region [Line Items] | ||
Gross Carrying Amount | 494 | 214 |
Allowance for Credit Losses | 4 | 2 |
Eastern Europe [Member] | Stage 3 [Member] | ||
Financial Assets and Allowance by Region [Line Items] | ||
Gross Carrying Amount | 99 | 90 |
Allowance for Credit Losses | 53 | 42 |
Eastern Europe [Member] | Stage 3 POCI [Member] | ||
Financial Assets and Allowance by Region [Line Items] | ||
Gross Carrying Amount | 0 | 0 |
Allowance for Credit Losses | 0 | 0 |
North America [Member] | ||
Financial Assets and Allowance by Region [Line Items] | ||
Gross Carrying Amount | 185,703 | 153,362 |
Allowance for Credit Losses | 304 | 366 |
North America [Member] | Stage 1 [Member] | ||
Financial Assets and Allowance by Region [Line Items] | ||
Gross Carrying Amount | 174,574 | 144,876 |
Allowance for Credit Losses | 53 | 77 |
North America [Member] | Stage 2 [Member] | ||
Financial Assets and Allowance by Region [Line Items] | ||
Gross Carrying Amount | 8,853 | 6,303 |
Allowance for Credit Losses | 55 | 57 |
North America [Member] | Stage 3 [Member] | ||
Financial Assets and Allowance by Region [Line Items] | ||
Gross Carrying Amount | 2,131 | 2,079 |
Allowance for Credit Losses | 180 | 225 |
North America [Member] | Stage 3 POCI [Member] | ||
Financial Assets and Allowance by Region [Line Items] | ||
Gross Carrying Amount | 145 | 105 |
Allowance for Credit Losses | 16 | 7 |
Central and South America [Member] | ||
Financial Assets and Allowance by Region [Line Items] | ||
Gross Carrying Amount | 4,318 | 4,258 |
Allowance for Credit Losses | 18 | 40 |
Central and South America [Member] | Stage 1 [Member] | ||
Financial Assets and Allowance by Region [Line Items] | ||
Gross Carrying Amount | 3,908 | 3,731 |
Allowance for Credit Losses | 3 | 4 |
Central and South America [Member] | Stage 2 [Member] | ||
Financial Assets and Allowance by Region [Line Items] | ||
Gross Carrying Amount | 206 | 146 |
Allowance for Credit Losses | 0 | 4 |
Central and South America [Member] | Stage 3 [Member] | ||
Financial Assets and Allowance by Region [Line Items] | ||
Gross Carrying Amount | 197 | 374 |
Allowance for Credit Losses | 13 | 32 |
Central and South America [Member] | Stage 3 POCI [Member] | ||
Financial Assets and Allowance by Region [Line Items] | ||
Gross Carrying Amount | 7 | 7 |
Allowance for Credit Losses | 2 | 0 |
Asia/Pacific [Member] | ||
Financial Assets and Allowance by Region [Line Items] | ||
Gross Carrying Amount | 62,990 | 61,081 |
Allowance for Credit Losses | 282 | 318 |
Asia/Pacific [Member] | Stage 1 [Member] | ||
Financial Assets and Allowance by Region [Line Items] | ||
Gross Carrying Amount | 58,984 | 57,197 |
Allowance for Credit Losses | 45 | 31 |
Asia/Pacific [Member] | Stage 2 [Member] | ||
Financial Assets and Allowance by Region [Line Items] | ||
Gross Carrying Amount | 2,351 | 2,691 |
Allowance for Credit Losses | 8 | 13 |
Asia/Pacific [Member] | Stage 3 [Member] | ||
Financial Assets and Allowance by Region [Line Items] | ||
Gross Carrying Amount | 1,518 | 973 |
Allowance for Credit Losses | 227 | 273 |
Asia/Pacific [Member] | Stage 3 POCI [Member] | ||
Financial Assets and Allowance by Region [Line Items] | ||
Gross Carrying Amount | 137 | 219 |
Allowance for Credit Losses | 2 | 2 |
Africa [Member] | ||
Financial Assets and Allowance by Region [Line Items] | ||
Gross Carrying Amount | 3,439 | 2,845 |
Allowance for Credit Losses | 16 | 7 |
Africa [Member] | Stage 1 [Member] | ||
Financial Assets and Allowance by Region [Line Items] | ||
Gross Carrying Amount | 2,081 | 2,617 |
Allowance for Credit Losses | 3 | 5 |
Africa [Member] | Stage 2 [Member] | ||
Financial Assets and Allowance by Region [Line Items] | ||
Gross Carrying Amount | 1,319 | 218 |
Allowance for Credit Losses | 11 | 1 |
Africa [Member] | Stage 3 [Member] | ||
Financial Assets and Allowance by Region [Line Items] | ||
Gross Carrying Amount | 39 | 11 |
Allowance for Credit Losses | 1 | 1 |
Africa [Member] | Stage 3 POCI [Member] | ||
Financial Assets and Allowance by Region [Line Items] | ||
Gross Carrying Amount | 0 | 0 |
Allowance for Credit Losses | 0 | 0 |
Other countries [Member] | ||
Financial Assets and Allowance by Region [Line Items] | ||
Gross Carrying Amount | 13,664 | 14,265 |
Allowance for Credit Losses | 11 | 16 |
Other countries [Member] | Stage 1 [Member] | ||
Financial Assets and Allowance by Region [Line Items] | ||
Gross Carrying Amount | 13,252 | 13,689 |
Allowance for Credit Losses | 10 | 15 |
Other countries [Member] | Stage 2 [Member] | ||
Financial Assets and Allowance by Region [Line Items] | ||
Gross Carrying Amount | 263 | 453 |
Allowance for Credit Losses | 0 | 1 |
Other countries [Member] | Stage 3 [Member] | ||
Financial Assets and Allowance by Region [Line Items] | ||
Gross Carrying Amount | 110 | 99 |
Allowance for Credit Losses | 2 | 0 |
Other countries [Member] | Stage 3 POCI [Member] | ||
Financial Assets and Allowance by Region [Line Items] | ||
Gross Carrying Amount | 38 | 24 |
Allowance for Credit Losses | € (2) | € 0 |
Risk Report - Asset Quality -_6
Risk Report - Asset Quality - Financial Assets at amortized cost by Rating Class (Detail) - EUR (€) € in Millions | Dec. 31, 2021 | Dec. 31, 2020 |
Total [Member] | ||
Credit Risk Exposure and Risk Concentrations/ Amortized Cost [Line Items] | ||
Gross Carrying Amount | € 764,298 | € 699,393 |
Allowance for Credit Losses | 4,895 | 4,946 |
Total [Member] | Stage 1 [Member] | ||
Credit Risk Exposure and Risk Concentrations/ Amortized Cost [Line Items] | ||
Gross Carrying Amount | 711,021 | 651,637 |
Allowance for Credit Losses | 440 | 544 |
Total [Member] | Stage 2 [Member] | ||
Credit Risk Exposure and Risk Concentrations/ Amortized Cost [Line Items] | ||
Gross Carrying Amount | 40,653 | 35,372 |
Allowance for Credit Losses | 532 | 648 |
Total [Member] | Stage 3 [Member] | ||
Credit Risk Exposure and Risk Concentrations/ Amortized Cost [Line Items] | ||
Gross Carrying Amount | 11,326 | 10,655 |
Allowance for Credit Losses | 3,740 | 3,614 |
Total [Member] | Stage 3 POCI [Member] | ||
Credit Risk Exposure and Risk Concentrations/ Amortized Cost [Line Items] | ||
Gross Carrying Amount | 1,297 | 1,729 |
Allowance for Credit Losses | 182 | 139 |
iAAA-iAA [Member] | ||
Credit Risk Exposure and Risk Concentrations/ Amortized Cost [Line Items] | ||
Gross Carrying Amount | 258,276 | 225,764 |
Allowance for Credit Losses | 2 | 1 |
iAAA-iAA [Member] | Stage 1 [Member] | ||
Credit Risk Exposure and Risk Concentrations/ Amortized Cost [Line Items] | ||
Gross Carrying Amount | 257,805 | 225,226 |
Allowance for Credit Losses | 2 | 1 |
iAAA-iAA [Member] | Stage 2 [Member] | ||
Credit Risk Exposure and Risk Concentrations/ Amortized Cost [Line Items] | ||
Gross Carrying Amount | 471 | 538 |
Allowance for Credit Losses | 0 | 0 |
iAAA-iAA [Member] | Stage 3 [Member] | ||
Credit Risk Exposure and Risk Concentrations/ Amortized Cost [Line Items] | ||
Gross Carrying Amount | 0 | 0 |
Allowance for Credit Losses | 0 | 0 |
iAAA-iAA [Member] | Stage 3 POCI [Member] | ||
Credit Risk Exposure and Risk Concentrations/ Amortized Cost [Line Items] | ||
Gross Carrying Amount | 0 | 0 |
Allowance for Credit Losses | 0 | 0 |
iA [Member] | ||
Credit Risk Exposure and Risk Concentrations/ Amortized Cost [Line Items] | ||
Gross Carrying Amount | 100,753 | 88,983 |
Allowance for Credit Losses | 7 | 5 |
iA [Member] | Stage 1 [Member] | ||
Credit Risk Exposure and Risk Concentrations/ Amortized Cost [Line Items] | ||
Gross Carrying Amount | 99,418 | 88,250 |
Allowance for Credit Losses | 6 | 5 |
iA [Member] | Stage 2 [Member] | ||
Credit Risk Exposure and Risk Concentrations/ Amortized Cost [Line Items] | ||
Gross Carrying Amount | 1,325 | 734 |
Allowance for Credit Losses | 1 | 0 |
iA [Member] | Stage 3 [Member] | ||
Credit Risk Exposure and Risk Concentrations/ Amortized Cost [Line Items] | ||
Gross Carrying Amount | 0 | 0 |
Allowance for Credit Losses | 0 | 0 |
iA [Member] | Stage 3 POCI [Member] | ||
Credit Risk Exposure and Risk Concentrations/ Amortized Cost [Line Items] | ||
Gross Carrying Amount | 9 | 0 |
Allowance for Credit Losses | 0 | 0 |
iBBB [Member] | ||
Credit Risk Exposure and Risk Concentrations/ Amortized Cost [Line Items] | ||
Gross Carrying Amount | 167,371 | 153,181 |
Allowance for Credit Losses | 51 | 52 |
iBBB [Member] | Stage 1 [Member] | ||
Credit Risk Exposure and Risk Concentrations/ Amortized Cost [Line Items] | ||
Gross Carrying Amount | 163,434 | 150,519 |
Allowance for Credit Losses | 39 | 43 |
iBBB [Member] | Stage 2 [Member] | ||
Credit Risk Exposure and Risk Concentrations/ Amortized Cost [Line Items] | ||
Gross Carrying Amount | 3,938 | 2,662 |
Allowance for Credit Losses | 12 | 9 |
iBBB [Member] | Stage 3 [Member] | ||
Credit Risk Exposure and Risk Concentrations/ Amortized Cost [Line Items] | ||
Gross Carrying Amount | 0 | 0 |
Allowance for Credit Losses | 0 | 0 |
iBBB [Member] | Stage 3 POCI [Member] | ||
Credit Risk Exposure and Risk Concentrations/ Amortized Cost [Line Items] | ||
Gross Carrying Amount | 0 | 0 |
Allowance for Credit Losses | 0 | 0 |
iBB [Member] | ||
Credit Risk Exposure and Risk Concentrations/ Amortized Cost [Line Items] | ||
Gross Carrying Amount | 163,938 | 158,592 |
Allowance for Credit Losses | 221 | 279 |
iBB [Member] | Stage 1 [Member] | ||
Credit Risk Exposure and Risk Concentrations/ Amortized Cost [Line Items] | ||
Gross Carrying Amount | 152,040 | 146,701 |
Allowance for Credit Losses | 150 | 202 |
iBB [Member] | Stage 2 [Member] | ||
Credit Risk Exposure and Risk Concentrations/ Amortized Cost [Line Items] | ||
Gross Carrying Amount | 11,898 | 11,891 |
Allowance for Credit Losses | 71 | 76 |
iBB [Member] | Stage 3 [Member] | ||
Credit Risk Exposure and Risk Concentrations/ Amortized Cost [Line Items] | ||
Gross Carrying Amount | 0 | 0 |
Allowance for Credit Losses | 0 | 0 |
iBB [Member] | Stage 3 POCI [Member] | ||
Credit Risk Exposure and Risk Concentrations/ Amortized Cost [Line Items] | ||
Gross Carrying Amount | 0 | 0 |
Allowance for Credit Losses | 0 | 0 |
iB [Member] | ||
Credit Risk Exposure and Risk Concentrations/ Amortized Cost [Line Items] | ||
Gross Carrying Amount | 51,530 | 49,841 |
Allowance for Credit Losses | 463 | 492 |
iB [Member] | Stage 1 [Member] | ||
Credit Risk Exposure and Risk Concentrations/ Amortized Cost [Line Items] | ||
Gross Carrying Amount | 33,572 | 36,167 |
Allowance for Credit Losses | 205 | 240 |
iB [Member] | Stage 2 [Member] | ||
Credit Risk Exposure and Risk Concentrations/ Amortized Cost [Line Items] | ||
Gross Carrying Amount | 17,942 | 13,674 |
Allowance for Credit Losses | 253 | 251 |
iB [Member] | Stage 3 [Member] | ||
Credit Risk Exposure and Risk Concentrations/ Amortized Cost [Line Items] | ||
Gross Carrying Amount | 0 | 0 |
Allowance for Credit Losses | 0 | 0 |
iB [Member] | Stage 3 POCI [Member] | ||
Credit Risk Exposure and Risk Concentrations/ Amortized Cost [Line Items] | ||
Gross Carrying Amount | 16 | 0 |
Allowance for Credit Losses | 6 | 0 |
iCCC and below [Member] | ||
Credit Risk Exposure and Risk Concentrations/ Amortized Cost [Line Items] | ||
Gross Carrying Amount | 22,430 | 23,032 |
Allowance for Credit Losses | 4,151 | 4,117 |
iCCC and below [Member] | Stage 1 [Member] | ||
Credit Risk Exposure and Risk Concentrations/ Amortized Cost [Line Items] | ||
Gross Carrying Amount | 4,752 | 4,774 |
Allowance for Credit Losses | 39 | 54 |
iCCC and below [Member] | Stage 2 [Member] | ||
Credit Risk Exposure and Risk Concentrations/ Amortized Cost [Line Items] | ||
Gross Carrying Amount | 5,079 | 5,874 |
Allowance for Credit Losses | 195 | 310 |
iCCC and below [Member] | Stage 3 [Member] | ||
Credit Risk Exposure and Risk Concentrations/ Amortized Cost [Line Items] | ||
Gross Carrying Amount | 11,326 | 10,655 |
Allowance for Credit Losses | 3,740 | 3,614 |
iCCC and below [Member] | Stage 3 POCI [Member] | ||
Credit Risk Exposure and Risk Concentrations/ Amortized Cost [Line Items] | ||
Gross Carrying Amount | 1,272 | 1,729 |
Allowance for Credit Losses | € 177 | € 139 |
Risk Report - Asset Quality -_7
Risk Report - Asset Quality - Financial Assets at amortized cost - Collateral held against credit-impaired financial assets (Detail) - Collateral held against credit-impaired financial assets at Amortized Cost [Member] - Financial Assets at Amortized Cost (Stage 3) [Member] - EUR (€) € in Millions | Dec. 31, 2021 | Dec. 31, 2020 | |
Collateral held against credit-impaired financial assets at Amortized Cost [Line Items] | |||
Gross Carrying Amount | [1] | € 11,326 | € 10,655 |
Collateral | [1] | 4,140 | 3,753 |
Guarantees | [1] | € 496 | € 558 |
[1] | Stage 3 consists here only of non-POCI assets. |
Risk Report - Asset Quality - M
Risk Report - Asset Quality - Modified Assets (Detail: Text Value) - Modified Assets Amortized Cost [Member] € in Millions | Dec. 31, 2021EUR (€) |
Modified Assets Amortized Cost [Line Items] | |
Increase (decrease) in modified assets at amortized cost due to client related modifications | € 113 |
Increase (decrease) in modified assets at amortized cost due to client related modifications, in percent | 74.00% |
Risk Report - Asset Quality -_8
Risk Report - Asset Quality - Modified Assets Amortized Cost (Detail) - Modified Assets Amortized Cost [Member] - EUR (€) € in Millions | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Modified Assets Amortized Cost [Line Items] | ||
Amortized cost carrying amount prior to modification | € 40 | € 153 |
Net modification gain/losses recognized | (16) | (29) |
Stage 1 [Member] | ||
Modified Assets Amortized Cost [Line Items] | ||
Amortized cost carrying amount prior to modification | 0 | 0 |
Net modification gain/losses recognized | (1) | 0 |
Stage 2 [Member] | ||
Modified Assets Amortized Cost [Line Items] | ||
Amortized cost carrying amount prior to modification | 22 | 81 |
Net modification gain/losses recognized | 0 | 2 |
Stage 3 [Member] | ||
Modified Assets Amortized Cost [Line Items] | ||
Amortized cost carrying amount prior to modification | 17 | 73 |
Net modification gain/losses recognized | (16) | (30) |
Stage 3 POCI [Member] | ||
Modified Assets Amortized Cost [Line Items] | ||
Amortized cost carrying amount prior to modification | 0 | 0 |
Net modification gain/losses recognized | € 0 | € 0 |
Risk Report - Asset Quality - O
Risk Report - Asset Quality - Off-balance sheet lending commitments and guarantee business, Nominal Amount (Detail) - Nominal amount [Member] - EUR (€) € in Millions | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Off-balance sheet lending commitments and guarantee business [Line Items] | ||
Balance, beginning of year | € 262,856 | € 259,218 |
Movements in financial assets including new business | 14,170 | 14,259 |
Transfers due to changes in creditworthiness | 0 | 0 |
Changes in models | 0 | 0 |
Foreign exchange and other changes | 8,923 | (10,622) |
Balance, end of reporting period | 285,948 | 262,856 |
Of which: Financial guarantees | 59,488 | 47,982 |
Stage 1 [Member] | ||
Off-balance sheet lending commitments and guarantee business [Line Items] | ||
Balance, beginning of year | 251,545 | 251,930 |
Movements in financial assets including new business | 11,197 | 16,918 |
Transfers due to changes in creditworthiness | (2,177) | (7,247) |
Changes in models | 0 | 0 |
Foreign exchange and other changes | 8,292 | (10,056) |
Balance, end of reporting period | 268,857 | 251,545 |
Of which: Financial guarantees | 55,477 | 45,064 |
Stage 2 [Member] | ||
Off-balance sheet lending commitments and guarantee business [Line Items] | ||
Balance, beginning of year | 8,723 | 5,864 |
Movements in financial assets including new business | 3,236 | (2,786) |
Transfers due to changes in creditworthiness | 2,019 | 6,101 |
Changes in models | 0 | 0 |
Foreign exchange and other changes | 521 | (455) |
Balance, end of reporting period | 14,498 | 8,723 |
Of which: Financial guarantees | 2,975 | 1,887 |
Stage 3 [Member] | ||
Off-balance sheet lending commitments and guarantee business [Line Items] | ||
Balance, beginning of year | 2,587 | 1,424 |
Movements in financial assets including new business | (273) | 126 |
Transfers due to changes in creditworthiness | 158 | 1,146 |
Changes in models | 0 | 0 |
Foreign exchange and other changes | 110 | (110) |
Balance, end of reporting period | 2,582 | 2,587 |
Of which: Financial guarantees | 1,036 | 1,031 |
Stage 3 POCI [Member] | ||
Off-balance sheet lending commitments and guarantee business [Line Items] | ||
Balance, beginning of year | 1 | 0 |
Movements in financial assets including new business | 10 | 1 |
Transfers due to changes in creditworthiness | 0 | |
Changes in models | 0 | |
Foreign exchange and other changes | 0 | |
Balance, end of reporting period | € 11 | 1 |
Of which: Financial guarantees | € 0 |
Risk Report - Asset Quality - C
Risk Report - Asset Quality - Collateral Obtained (Detail: Text Values) - EUR (€) € in Millions | Dec. 31, 2021 | Dec. 31, 2020 |
Collateral Obtained [Abstract] | ||
Carrying amount of foreclosed residential real estate properties | € 67 | € 89 |
Collateral on consolidating securitization trusts | € 46 | € 54 |
Risk Report - Asset Quality -_9
Risk Report - Asset Quality - Collateral obtained during the reporting periods (Detail) - EUR (€) € in Millions | Dec. 31, 2021 | Dec. 31, 2020 | [1],[2] | |
Collateral Obtained [Abstract] | ||||
Commercial real estate | € 0 | € 15 | ||
Residential real estate | [3] | 2 | 43 | |
Other | 0 | 3 | ||
Total collateral obtained during the reporting period | € 2 | € 60 | ||
[1] | Numbers have been restated compared to prior year disclosure | |||
[2] | Numbers have been restated compared to prior year disclosure | |||
[3] | Carrying amount of foreclosed residential real estate properties amounted to € 67 million € 89 million |
Risk Report - Asset Quality _10
Risk Report - Asset Quality - Financial Assets at Fair Value through OCI (Detail: Text Values) - EUR (€) € in Millions | Dec. 31, 2021 | Dec. 31, 2020 |
Financial assets at fair value through OCI [Abstract] | ||
Fair value of financial assets at Fair value through Other Comprehensive Income (FVOCI) subject to impairment | € 29,000 | € 56,000 |
Of which: [Abstract] | ||
Allowance for credit losses against these assets | € 41 | € 20 |
Risk Report - Asset Quality - L
Risk Report - Asset Quality - Legal Claims (Detail: Text Values) - EUR (€) € in Millions | Dec. 31, 2021 | Dec. 31, 2020 |
Legal Claims [Abstract] | ||
Amounts outstanding on financial assets written off and still subject to enforcement activity | € 234 | € 295 |
Risk Report - Market Risk - Tra
Risk Report - Market Risk - Trading Market Risk Exposures - Value-at Risk of Trading Units by Risk Type (Detail) - EUR (€) € in Millions | Dec. 31, 2021 | [2] | Dec. 31, 2020 | |
Total [Member] | ||||
Value-at Risk of Trading Units by Risk Type [line items] | ||||
Period-end, Value-at Risk of Trading Units by Risk Type | [1] | € 31.1 | € 48.1 | |
Diversification effect [Member] | ||||
Value-at Risk of Trading Units by Risk Type [line items] | ||||
Period-end, Value-at Risk of Trading Units by Risk Type | [1] | (27) | (72.2) | |
Interest Rate Risk [Member] | ||||
Value-at Risk of Trading Units by Risk Type [line items] | ||||
Period-end, Value-at Risk of Trading Units by Risk Type | [1] | 16.6 | 27.1 | |
Credit Spread Risk [Member] | ||||
Value-at Risk of Trading Units by Risk Type [line items] | ||||
Period-end, Value-at Risk of Trading Units by Risk Type | [1] | 24.1 | 55.4 | |
Equity Price Risk [Member] | ||||
Value-at Risk of Trading Units by Risk Type [line items] | ||||
Period-end, Value-at Risk of Trading Units by Risk Type | [1] | 8.3 | 13.5 | |
Foreign Exchange Risk [Member] | ||||
Value-at Risk of Trading Units by Risk Type [line items] | ||||
Period-end, Value-at Risk of Trading Units by Risk Type | [1] | 8.1 | 22.5 | |
Commodity Price Risk [Member] | ||||
Value-at Risk of Trading Units by Risk Type [line items] | ||||
Period-end, Value-at Risk of Trading Units by Risk Type | [1] | € 1 | € 1.8 | |
[1] | 2 | |||
[2] | Figures for 2021 as of December 31, 2021. Figures for 2020 as of December 31, 2020. |
Risk Report - Market Risk - T_2
Risk Report - Market Risk - Trading Market Risk Exposures - Average, Maximum and Minimum Incremental Risk Charge of Trading Units (with a 99.9 % confidence level and one-year capital horizon) (Detail) - EUR (€) € in Millions | Dec. 31, 2021 | Dec. 31, 2020 | |
Total [Member] | |||
Incremental Risk Charge (average, maximum, minimum) [line items] | |||
Period-end | [1],[2],[3] | € 292.5 | € 560.4 |
Credit Trading [Member] | |||
Incremental Risk Charge (average, maximum, minimum) [line items] | |||
Period-end | [1],[2],[3] | 85.4 | 124.8 |
Core Rates [Member] | |||
Incremental Risk Charge (average, maximum, minimum) [line items] | |||
Period-end | [1],[2],[3] | 78 | 283.6 |
Emerging Markets [Member] | |||
Incremental Risk Charge (average, maximum, minimum) [line items] | |||
Period-end | [1],[2],[3] | 133.1 | 250.4 |
Other [Member] | |||
Incremental Risk Charge (average, maximum, minimum) [line items] | |||
Period-end | [1],[2],[3],[4] | € (4) | € (98.5) |
[1] | All liquidity horizons are set to 12 months. | ||
[2] | Amounts show the bands within which the values fluctuated during the 12-weeks preceding December 31, 2021 and December 31, 2020, respectively | ||
[3] | Business line breakdowns have been updated for 2021 reporting to better reflect the current business structure. | ||
[4] | Other includes Capital Release Unit. |
Risk Report - Market Risk - Non
Risk Report - Market Risk - Nontrading Market Risk Exposures - Carrying Value and Economic Capital Usage for Nontrading Market Risk Portfolios (Detail: Text Values) - EUR (€) € in Millions | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Carrying Value and Economic Capital Usage for Nontrading Market Risk Portfolios | ||
Economic Capital Usage For Nontrading Market Risk Total | € 5,600 | |
Movement in Economic Capital Usage For Nontrading Market Risk Total | € 3,100 |
Risk Report - Market Risk - N_2
Risk Report - Market Risk - Nontrading Market Risk Exposures - Economic Capital Usage by risk type (Detail) - Economic capital usage [Member] - EUR (€) € in Millions | Dec. 31, 2021 | Dec. 31, 2020 |
Carrying Value and Economic Capital Usage for Nontrading Market Risk Portfolios [line items] | ||
Interest rate risk | € 1,853 | € 4,062 |
Credit spread risk | 21 | 92 |
Equity and investment risk | 1,031 | 1,885 |
Foreign exchange risk | 1,509 | 1,682 |
Pension risk | 1,128 | 934 |
Guaranteed funds risk | 85 | 41 |
Nontrading market risk portfolios | € 5,628 | € 8,696 |
Risk Report - Liquidity Risk -
Risk Report - Liquidity Risk - Global All Currency Stress Testing Results (Detail) - EUR (€) € in Millions | Dec. 31, 2021 | Dec. 31, 2020 | |
Funding Gap [Member] | |||
Global All Currency Stress Testing Results [line items] | |||
Combined | [1] | € 195 | € 177 |
Gap Closure [Member] | |||
Global All Currency Stress Testing Results [line items] | |||
Combined | [1],[2] | 243 | 220 |
Net Liquidity Position [Member] | |||
Global All Currency Stress Testing Results [line items] | |||
Combined | [1] | € 48 | € 43 |
[1] | Combined impact of systemic market risk and severe downgrade | ||
[2] | Based on liquidity generation through Liquidity Reserves and other business mitigants. |
Risk Report - Liquidity Risk Ma
Risk Report - Liquidity Risk Management - Funding Diversification - Parenthetical information (Detail: Text Value) € in Millions | Dec. 31, 2021EUR (€) |
Liquidity Risk Management [Abstract] | |
Green Bond Senior Preferred issuance | € 800 |
Green Formosa Bonds | € 400 |
Risk Report - Liquidity Risk _2
Risk Report - Liquidity Risk - Parenthetical Information - Exposure (Detail: Text Values) | Dec. 31, 2021 |
Funding sources [Abstract] | |
Funding sources: term funding | 19,700,000,000 |
Funding Sources, AT1 issuance | 2,500,000,000 |
Funding Sources, Tier 2 issuance | 1,100,000,000 |
Senior non-preferred plain-vanilla issuance | 9,600,000,000 |
Senior preferred plain-vanilla issuance | 4,000,000,000 |
Other senior preferred structured issuance | 2,500,000,000 |
Of which emitted in Euro | 6,800,000,000 |
Of which emitted in USD | 11,300,000,000 |
Of which emitted in GBP | 700,000,000 |
Of which emitted in other currencies | 900,000,000 |
Investor base for issuances [Abstract] | |
Asset managers and pension funds | 60.00% |
Retail customers | 5.00% |
Banks | 7.00% |
Governments and agencies [Abstract] | |
Insurance companies | 6.00% |
Other institutional investors | 21.00% |
Geographical distribution of Funding sources [Abstract] | |
Germany | 12.00% |
Rest of Europe | 33.00% |
US | 36.00% |
Asia/Pacific | 16.00% |
Others | 3.00% |
Average spread of DB issuance over 3 months Euribor/ Libor in bps | 161,000,000,000 |
Average tenor in years | 5,700,000,000 |
Issuing volume of Funding sources [Abstract] | |
First quarter | 7,000,000,000 |
Second quarter | 5,000,000,000 |
Third quarter | 1,300,000,000 |
Fourth quarter | 6,300,000,000 |
Risk Report - Liquidity Risk _3
Risk Report - Liquidity Risk - Parenthetical Information - Exposure II (Detail: Text Values) - EUR (€) € in Millions | Dec. 31, 2021 | Dec. 31, 2020 |
External funding sources [Abstract] | ||
Total external funding | € 938,400 | € 886,200 |
External Funding mainly due [Abstract] | ||
Increase in deposits in Private Bank primarily due to lower consumer spending related to COVID-19 | 12,700 | |
Increase in deposits in Corporate Bank | 17,800 | |
Balances increase in secured funding and shorts | 25,000 | |
Increase in unsecured wholesale funding | 5,900 | |
Decrease in Capital Markets and Equity volume | 9,800 | |
Derivatives & settlement balances | 306,800 | 348,200 |
Add back for netting effect for Margin & Prime Brokerage cash balances (shown on a net basis) | 49,000 | 63,400 |
Other non funding liabilities | 30,500 | 27,400 |
Reconciliation to total balance sheet | € 1,324,700 | € 1,325,300 |
Parenthetical Information - Sig
Parenthetical Information - Significant accounting policies (Detail: Text Values) | 12 Months Ended | |
Dec. 31, 2021EUR (€) | Dec. 31, 2020EUR (€) | |
Impact of the EU carve-out version of IAS 39 [Abstract] | ||
Profit before tax | € 128,000,000 | € 180,000,000 |
Profit after tax | € 85,000,000 | € 12,000,000 |
Impact on CET 1 capital ratio (less than) in bps | 2 | 1 |
Change in accounting estimates in EUR million [Abstract] | ||
Methodology change resulted in an increase of the Groups allowance for loan losses | € 60,000,000 | |
Groups adoption of a revised discount curve methodology resulted in a net actuarial gain | € 45,000,000 | |
Principles of Consolidation - Associates in percent [Abstract] | ||
Significant influence is generally presumed when the Group holds voting rights in a lower range | 0.20 | |
Significant influence is generally presumed when the Group holds voting rights in an upper range | 0.50 | |
Groups investment of the voting stock | 0.20 | |
Impairement of loans and provision for off-balance sheet positons - Staged approach to the determination of expected losses [Abstract] | ||
Group recognize a loss allowance at an amount equal to lifetime expected credit losses | 1 |
Uncategorized Items - deutscheb
Label | Element | Value |
at amortized cost [Member] | Loans [Member] | ||
Gross Carrying Amount | db_GrossCarryingValue | € 431,501,000,000 |
Nominal amount, end of period, of which: Financial Guarantees | db_NominalAmountofWhichFinancialGuarantees | 297,000,000 |
Nominal amount, end of period, of which: Financial Guarantees | db_NominalAmountofWhichFinancialGuarantees | 257,000,000 |
Goodwill and other intangible assets | ifrs-full_IntangibleAssetsAndGoodwill | 88,000,000 |
Goodwill and other intangible assets | ifrs-full_IntangibleAssetsAndGoodwill | 0 |
Allowance for Credit Losses | db_AllowanceForCreditLosses | 4,808,000,000 |
Trading securities, liabilities | db_TradingSecuritiesLiabilities | 2,000,000 |
at amortized cost [Member] | Loans [Member] | Stage 2 [Member] | ||
Gross Carrying Amount | db_GrossCarryingValue | 34,537,000,000 |
Nominal amount, end of period, of which: Financial Guarantees | db_NominalAmountofWhichFinancialGuarantees | 64,000,000 |
Nominal amount, end of period, of which: Financial Guarantees | db_NominalAmountofWhichFinancialGuarantees | 43,000,000 |
Allowance for Credit Losses | db_AllowanceForCreditLosses | 647,000,000 |
at amortized cost [Member] | Loans [Member] | Stage 3 POCI [Member] | ||
Gross Carrying Amount | db_GrossCarryingValue | 1,710,000,000 |
Nominal amount, end of period, of which: Financial Guarantees | db_NominalAmountofWhichFinancialGuarantees | 0 |
Allowance for Credit Losses | db_AllowanceForCreditLosses | 133,000,000 |
at amortized cost [Member] | Loans [Member] | Stage 1 [Member] | ||
Gross Carrying Amount | db_GrossCarryingValue | 385,117,000,000 |
Nominal amount, end of period, of which: Financial Guarantees | db_NominalAmountofWhichFinancialGuarantees | 69,000,000 |
Nominal amount, end of period, of which: Financial Guarantees | db_NominalAmountofWhichFinancialGuarantees | 99,000,000 |
Allowance for Credit Losses | db_AllowanceForCreditLosses | 522,000,000 |
at amortized cost [Member] | Loans [Member] | Stage 3 [Member] | ||
Gross Carrying Amount | db_GrossCarryingValue | 10,138,000,000 |
Nominal amount, end of period, of which: Financial Guarantees | db_NominalAmountofWhichFinancialGuarantees | 164,000,000 |
Nominal amount, end of period, of which: Financial Guarantees | db_NominalAmountofWhichFinancialGuarantees | 115,000,000 |
Allowance for Credit Losses | db_AllowanceForCreditLosses | € 3,506,000,000 |