Document and Entity information
Document and Entity information | 3 Months Ended |
Jun. 30, 2018shares | |
Document and Entity Information [Abstract] | |
Entity Registrant Name | Deutsche Bank Aktiengesellschaft |
Entity Central Index Key | 1,159,508 |
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 | 6-K |
Document Period End Date | Jun. 30, 2018 |
Document Fiscal Year Focus | 2,018 |
Document Fiscal Period Focus | H1 |
Amendment Flag | false |
Entity Common Stock, Shares Outstanding | 2,059,885,742 |
Consolidated Statement of Incom
Consolidated Statement of Income - EUR (€) € in Millions | 3 Months Ended | 6 Months Ended | ||||
Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2018 | Jun. 30, 2017 | |||
Consolidated Statement of Income [Line Items] | ||||||
Interest and similar income | € 6,678 | [1] | € 6,261 | € 12,884 | [1] | € 12,274 |
Interest expense | 3,249 | 3,181 | 6,542 | 6,135 | ||
Net interest income | 3,429 | 3,081 | 6,342 | 6,138 | ||
Provision for credit losses | 95 | 79 | 183 | 212 | ||
Net interest income after provision for credit losses | 3,334 | 3,002 | 6,160 | 5,926 | ||
Commissions and fee income | 2,669 | 2,839 | 5,359 | 5,773 | ||
Net gains (losses) on financial assets/liabilities at fair value through profit or loss | 147 | 845 | 1,296 | 1,953 | ||
Net gains (losses) on financial assets at amortized cost | 0 | 0 | 2 | 0 | ||
Net gains (losses) on financial assets mandatory at fair value through other comprehensive income | 125 | 0 | 279 | 0 | ||
Net gains (losses) on financial assets available for sale | 0 | 78 | 0 | 198 | ||
Net income (loss) from equity method investments | 74 | 84 | 176 | 103 | ||
Other income (loss) | 146 | (310) | 113 | (204) | ||
Total noninterest income | 3,161 | 3,535 | 7,225 | 7,823 | ||
Compensation and benefits | 3,050 | 2,921 | 6,052 | 6,068 | ||
General and administrative expenses | 2,552 | 2,724 | 6,008 | 5,924 | ||
Impairment of goodwill and other intangible assets | 0 | 6 | 0 | 6 | ||
Restructuring activities | 182 | 64 | 181 | 50 | ||
Total noninterest expenses | 5,784 | 5,715 | 12,241 | 12,049 | ||
Income (loss) before income taxes | 711 | 822 | 1,143 | 1,701 | ||
Income tax expense (benefit) | 310 | 357 | 622 | 660 | ||
Net income (loss) | 401 | 466 | 521 | 1,041 | ||
Net income (loss) attributable to noncontrolling interests | 40 | 19 | 40 | 23 | ||
Net income (loss) attributable to Deutsche Bank shareholders and additional equity components | € 361 | € 447 | € 481 | € 1,018 | ||
[1] | Interest and similar income included 4.1 billion for the three months ended June 30, 2018 and 8.0 billion for the six months ended June 30, 2018 calculated based on effective interest method. |
Consolidated Statement of Inco3
Consolidated Statement of Income (Parenthetical) - EUR (€) € in Millions | 3 Months Ended | 6 Months Ended | ||||
Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2018 | Jun. 30, 2017 | |||
Consolidated Statement of Income [Abstract] | ||||||
Interest and similar income | € 6,678 | [1] | € 6,261 | € 12,884 | [1] | € 12,274 |
thereof: calculated based on the effective interest rate method | € 4,131 | € 0 | € 7,957 | € 0 | ||
[1] | Interest and similar income included 4.1 billion for the three months ended June 30, 2018 and 8.0 billion for the six months ended June 30, 2018 calculated based on effective interest method. |
Earnings per Common Share
Earnings per Common Share - € / shares | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2018 | Jun. 30, 2017 | ||
Earnings per share [Abstract] | |||||
Basic | [1],[2] | € 0.03 | € 0.08 | € 0.09 | € 0.4 |
Diluted | [1],[2] | € 0.03 | € 0.07 | € 0.09 | € 0.38 |
Number of shares in million [Abstract] | |||||
Denominator for basic earnings per share, weighted-average shares outstanding | [2] | 2,104 | 2,086 | 2,100 | 1,834.3 |
Denominator for diluted earnings per share, adjusted weighted-average shares after assumed conversions | [2] | 2,155.3 | 2,140.2 | 2,153.2 | 1,899.2 |
[1] | Earnings were adjusted by 292 million and 288 million net of tax for the coupons paid on Additional Tier 1 Notes in April 2018 and April 2017, respectively. The coupons paid on Additional Tier 1 Notes are not attributable to Deutsche Bank shareholders and therefore need to be deducted in the calculation in accordance with IAS 33. | ||||
[2] | The number of average basic and diluted shares outstanding has been adjusted for all periods before April 2017 in order to reflect the effect of the bonus component of subscription rights issued in April 2017 in connection with the capital increase. |
Earnings per Common Share (Pare
Earnings per Common Share (Parenthetical) - EUR (€) | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2018 | Jun. 30, 2017 | |
Earnings per Common Share [Abstract] | ||||
Earnings adjustment for coupons paid on Additional Tier 1 Notes, net of tax | € 0 | € 0 | € 292,000,000 | € 288,000,000 |
Consolidated Statement of Compr
Consolidated Statement of Comprehensive Income - EUR (€) € in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2018 | Jun. 30, 2017 | |
Consolidated Statement of Comprehensive Income [Line Items] | ||||
Net income (loss) recognized in the income statement | € 401 | € 466 | € 521 | € 1,041 |
Items that will not be reclassified to profit or loss [Abstract] | ||||
Remeasurement gains (losses) related to defined benefit plans, before tax | (45) | 192 | (208) | 111 |
Net fair value gains (losses) attributable to credit risk related to financial liabilities designated as at fair value through profit or loss, before tax | 146 | 0 | 195 | 0 |
Total of income tax related to items that will not be reclassified to profit or loss | (22) | (66) | 26 | (52) |
Financial assets available for sale [Abstract] | ||||
Unrealized net gains (losses) arising during the period, before tax | 0 | 115 | 0 | 103 |
Realized net (gains) losses arising during the period (reclassified to profit or loss), before tax | 0 | (83) | 0 | (207) |
Financial assets mandatory at fair value through other comprehensive income [Abstract] | ||||
Unrealized net gains (losses) arising during the period, before tax | (52) | 0 | (205) | 0 |
Realized net (gains) losses arising during the period (reclassified to profit or loss), before tax | (125) | 0 | (279) | 0 |
Derivatives hedging variability of cash flows [Abstract] | ||||
Unrealized net gains (losses) arising during the period, before tax | 5 | (8) | (2) | (20) |
Realized net (gains) losses arising during the period (reclassified to profit or loss), before tax | 0 | 2 | 0 | 4 |
Assets classified as held for sale [Abstract] | ||||
Unrealized net gains (losses) arising during the period, before tax | 2 | (160) | 2 | (162) |
Realized net (gains) losses arising during the period (reclassified to profit or loss), before tax | (2) | 162 | (2) | 162 |
Foreign currency translation [Abstract] | ||||
Unrealized net gains (losses) arising during the period, before tax | 785 | (1,259) | 375 | (1,653) |
Realized net (gains) losses arising during the period (reclassified to profit or loss), before tax | (1) | (26) | (1) | (26) |
Equity Method Investments [Abstract] | ||||
Net gains (losses) arising during the period | (7) | (7) | (8) | (20) |
Total of income tax related to items that are or may be reclassified to profit or loss | 110 | (76) | 173 | 37 |
Other comprehensive income (loss), net of tax | 794 | (1,215) | 64 | (1,724) |
Total comprehensive income (loss), net of tax | 1,196 | (749) | 586 | (683) |
Attributable to [Abstract] | ||||
Noncontrolling interests | 79 | (2) | 71 | 1 |
Deutsche Bank shareholders and additional equity components | € 1,117 | € (747) | € 515 | € (684) |
Consolidated Balance Sheet
Consolidated Balance Sheet - EUR (€) € in Millions | Jun. 30, 2018 | Dec. 31, 2017 |
Assets [Abstract] | ||
Cash and central bank balances | € 208,086 | € 225,655 |
Interbank balances (w/o central banks) | 10,872 | 9,265 |
Central bank funds sold and securities purchased under resale agreements | 7,725 | 9,971 |
Securities borrowed | 916 | 16,732 |
Financial assets at fair value through profit or loss [Abstract] | ||
Trading assets | 160,646 | 184,661 |
Positive market values from derivative financial instruments | 347,582 | 361,032 |
Non-trading financial assets mandatory at fair value through profit and loss | 93,370 | 0 |
Financial assets designated at fair value through profit or loss | 673 | 91,276 |
Total financial assets at fair value through profit or loss | 602,270 | 636,970 |
Financial assets at fair value through other comprehensive income | 48,812 | 0 |
Financial assets available for sale | 0 | 49,397 |
Equity method investments | 851 | 866 |
Loans at amortized cost | 390,965 | 401,699 |
Securities held to maturity | 0 | 3,170 |
Property and equipment | 2,540 | 2,663 |
Goodwill and other intangible assets | 8,982 | 8,839 |
Other assets | 130,663 | 101,491 |
Assets for current tax | 1,227 | 1,215 |
Deferred tax assets | 7,050 | 6,799 |
Total assets | 1,420,960 | 1,474,732 |
Liabilities and equity [Abstract] | ||
Deposits | 558,486 | 581,873 |
Central bank funds purchased and securities sold under repurchase agreements | 14,310 | 18,105 |
Securities loaned | 6,486 | 6,688 |
Financial liabilities at fair value through profit or loss [Abstract] | ||
Trading liabilities | 60,712 | 71,462 |
Negative market values from derivative financial instruments | 333,375 | 342,726 |
Financial liabilities designated at fair value through profit or loss | 39,920 | 63,874 |
Investment contract liabilities | 560 | 574 |
Total financial liabilities at fair value through profit or loss | 434,567 | 478,636 |
Other short-term borrowings | 17,693 | 18,411 |
Other liabilities | 155,095 | 132,208 |
Provisions | 3,349 | 4,158 |
Liabilities for current tax | 922 | 1,001 |
Deferred tax liabilities | 494 | 346 |
Long-term debt | 157,553 | 159,715 |
Trust preferred securities | 3,143 | 5,491 |
Obligation to purchase common shares | 0 | 0 |
Total liabilities | 1,352,099 | 1,406,633 |
Common shares, no par value, nominal value of EUR 2.56 | 5,291 | 5,291 |
Additional paid-in capital | 40,141 | 39,918 |
Retained earnings | 16,985 | 17,454 |
Common shares in treasury, at cost | (75) | (9) |
Equity classified as obligation to purchase common shares | 0 | 0 |
Accumulated other comprehensive income (loss), net of tax | 315 | 520 |
Total shareholders equity | 62,656 | 63,174 |
Additional equity components | 4,675 | 4,675 |
Noncontrolling interests | 1,529 | 250 |
Total equity | 68,861 | 68,099 |
Total liabilities and equity | € 1,420,960 | € 1,474,732 |
Consolidated Statement of Chang
Consolidated Statement of Changes in Equity - EUR (€) € in Millions | Total equity [Member] | Common shares (no par value) [Member] | Additional paid-in capital [Member] | Retained earnings [Member] | Common shares in treasury, at cost [Member] | Unrealized net gains (losses) on financial assets available for sale, net of applicable tax and other [Member] | [1] | Unrealized net gains (losses) on financial assets at FVOCI, net of tax and other | [1] | Unrealized net gains (losses) Attributable to change in own credit risk of financial liabilities designated at FVTPL, net of tax | [1] | Unrealized net gains (losses) on derivatives hedging variability of cash flows, net of tax [Member] | [1] | Unrealized net gains (losses) on assets classified as held for sale, net of tax [Member] | [1] | Foreign currency translation, net of tax [Member] | Unrealized net gains (losses) from equity method investments [Member] | Accumulated other comprehensive income, net of tax [Member] | Total shareholders equity [Member] | Additional equity components [Member] | Noncontrolling interests [Member] | |||||
Equity, Balance at Dec. 31, 2016 | € 64,819 | € 3,531 | € 33,765 | € 18,987 | € 0 | € 912 | € 0 | € 0 | € 143 | € 0 | € 2,418 | € 77 | € 3,550 | [2] | € 59,833 | € 4,669 | [3] | € 316 | ||||||||
Total comprehensive income (loss), net of tax | [2] | (742) | 0 | 0 | 1,018 | 0 | (87) | 0 | 0 | (16) | 0 | (1,638) | (20) | (1,761) | (743) | 0 | [3] | 1 | ||||||||
Gains (losses) attributable to Equity instruments designated at FVTOCI, net of tax | 0 | 0 | 0 | 0 | ||||||||||||||||||||||
Gains (losses) upon early ext. attributable to change in own credit risk of financial liabilities designated at FVTPL, net of tax | 0 | 0 | 0 | 0 | ||||||||||||||||||||||
Common shares issued | 8,037 | 1,760 | 6,277 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | [2] | 8,037 | 0 | [3] | 0 | ||||||||
Cash dividends paid | (396) | 0 | 0 | (392) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | [2] | (392) | 0 | [3] | (4) | ||||||||
Coupon on additional equity components, net of tax | (288) | 0 | 0 | (288) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | [2] | (288) | 0 | [3] | 0 | ||||||||
Remeasurement gains (losses) related to defined benefit plans, net of tax | 59 | 0 | 0 | 59 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | [2] | 59 | 0 | [3] | 0 | ||||||||
Net change in share awards in the reporting period | (14) | 0 | (14) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | [2] | (14) | 0 | [3] | 0 | ||||||||
Treasury shares distributed under share-based compensation plans | 206 | 0 | 0 | 0 | 206 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | [2] | 206 | 0 | [3] | 0 | ||||||||
Tax benefits related to share-based compensation plans | (1) | 0 | (1) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | [2] | (1) | 0 | [3] | 0 | ||||||||
Option premiums and other effects from options on common shares | (104) | 0 | (104) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | [2] | (104) | 0 | [3] | 0 | ||||||||
Purchases of treasury shares | (5,503) | 0 | 0 | 0 | (5,503) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | [2] | (5,503) | 0 | [3] | 0 | ||||||||
Sale of treasury shares | 5,264 | 0 | 0 | 0 | 5,264 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | [2] | 5,264 | 0 | [3] | 0 | ||||||||
Net gains (losses) on treasury shares sold | 13 | 0 | 13 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | [2] | 13 | 0 | [3] | 0 | ||||||||
Other | (140) | 0 | (109) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | [2] | (109) | 5 | [3],[4] | (35) | ||||||||
Equity, Balance at Jun. 30, 2017 | 71,210 | 5,291 | 39,828 | 19,383 | (33) | 825 | 0 | 0 | 126 | 0 | 780 | 57 | 1,789 | [2] | 66,258 | 4,674 | [3] | 278 | ||||||||
Balance (IAS 39) as of December 31, 2017 | 68,099 | 5,291 | 39,918 | 17,454 | (9) | 689 | 0 | 0 | 18 | 0 | (227) | 40 | 520 | [2] | 63,174 | 4,675 | [3] | 250 | ||||||||
IFRS 9 Introduction Impact | (672) | 0 | (2) | (301) | 0 | (689) | 394 | (16) | 0 | 0 | (45) | (12) | (368) | [2] | (671) | 0 | [3] | (1) | ||||||||
Equity, Balance at Dec. 31, 2017 | 67,427 | 5,291 | 39,916 | 17,153 | (9) | 0 | 394 | (16) | 18 | 0 | (272) | 28 | 152 | [2] | 62,503 | 4,675 | [3] | 249 | ||||||||
Total comprehensive income (loss), net of tax | [2] | 721 | 0 | 0 | 481 | 0 | 0 | (338) | 151 | (2) | 0 | 364 | (12) | 163 | 644 | 0 | [3] | 77 | ||||||||
Gains (losses) attributable to Equity instruments designated at FVTOCI, net of tax | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | [3] | 0 | |||||||||
Gains (losses) upon early ext. attributable to change in own credit risk of financial liabilities designated at FVTPL, net of tax | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | [3] | 0 | |||||||||
Common shares issued | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | [3] | 0 | |||||||||
Cash dividends paid | (227) | 0 | 0 | (227) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | (227) | 0 | [3] | 0 | |||||||||
Coupon on additional equity components, net of tax | (292) | 0 | 0 | (292) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | (292) | 0 | [3] | 0 | |||||||||
Remeasurement gains (losses) related to defined benefit plans, net of tax | (139) | 0 | 0 | (129) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | (129) | 0 | [3] | (9) | |||||||||
Net change in share awards in the reporting period | 72 | 0 | 52 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 52 | 0 | [3] | 20 | |||||||||
Treasury shares distributed under share-based compensation plans | 101 | 0 | 0 | 0 | 101 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 101 | 0 | [3] | 0 | |||||||||
Tax benefits related to share-based compensation plans | (5) | 0 | (5) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | (5) | 0 | [3] | 1 | |||||||||
Option premiums and other effects from options on common shares | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | [3] | 0 | |||||||||
Purchases of treasury shares | (3,006) | 0 | 0 | 0 | (3,006) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | (3,006) | 0 | [3] | 0 | |||||||||
Sale of treasury shares | 2,839 | 0 | 0 | 0 | 2,839 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 2,839 | 0 | [3] | 0 | |||||||||
Net gains (losses) on treasury shares sold | 3 | 0 | 3 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 3 | 0 | [3] | 0 | |||||||||
Other | 1,368 | 0 | 175 | [5] | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 175 | 0 | [3],[4] | 1,192 | [5] | |||||||
Equity, Balance at Jun. 30, 2018 | € 68,861 | € 5,291 | € 40,141 | € 16,985 | € (75) | € 0 | € 56 | € 135 | € 16 | € 0 | € 92 | € 16 | € 315 | € 62,656 | € 4,675 | [3] | € 1,529 | |||||||||
[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 purchase and sale of additional equity components. | |||||||||||||||||||||||||
[5] | Includes impact from initial public offering DWS Group GmbH & Co. KGaA. |
Consolidated Statement of Cash
Consolidated Statement of Cash Flows - EUR (€) € in Millions | 6 Months Ended | |||
Jun. 30, 2018 | Jun. 30, 2017 | |||
Consolidated Statement of Cash Flows [Line Items] | ||||
Net income (loss) | € 521 | € 1,041 | ||
Adjustments to reconcile net income to net cash provided by (used in) operating activities [Abstract] | ||||
Provision for credit losses | 183 | 212 | ||
Restructuring activities | 181 | 50 | ||
Gain on sale of financial assets available for sale and securities held to maturity | 0 | (206) | ||
Gain on sale of financial assets at fair value through other comprehensive income, equity method investments and other | (543) | (24) | ||
Deferred income taxes, net | 335 | 272 | ||
Impairment, depreciation and other amortization, and accretion | 1,170 | 1,179 | ||
Share of net income from equity method investments | (86) | (105) | ||
Income (loss) adjusted for noncash charges, credits and other items | 1,761 | 2,419 | ||
Adjustments for net change in operating assets and liabilities [Abstract] | ||||
Interest-earning time deposits with central banks and banks | (11,773) | 1,902 | ||
Central bank funds sold, securities purchased under resale agreements, securities borrowed | 18,008 | 1,513 | ||
Non-Trading financial assets mandatory at fair value through profit and loss | (92,687) | 0 | ||
Financial assets designated at fair value through profit or loss | 90,604 | (3,289) | ||
Loans at amortized cost | 8,392 | 9,073 | ||
Other assets | (33,387) | (20,249) | ||
Deposits | (20,493) | 32,515 | ||
Financial liabilities designated at fair value through profit or loss and investment contract liabilities | [1] | (23,867) | 4,522 | |
Central bank funds purchased, securities sold under repurchase agreements, securities loaned | (3,972) | (2,316) | ||
Other short-term borrowings | (716) | 2,951 | ||
Other liabilities | 18,856 | 28,901 | ||
Senior long-term debt | [2] | (1,412) | (7,017) | |
Trading assets and liabilities, positive and negative market values from derivative financial instruments, net | 17,327 | (9,795) | ||
Other, net | (1,289) | 651 | ||
Net cash provided by (used in) operating activities | (34,648) | 41,781 | ||
Proceeds from [Abstract] | ||||
Sale of financial assets at fair value through other comprehensive income | 13,277 | 0 | ||
Maturities of financial assets at fair value through other comprehensive income | 13,513 | 0 | ||
Sale of debt securities held to collect at AC | 95 | 0 | ||
Maturities of debt securities held to collect at AC | 658 | 0 | ||
Sale of financial assets available for sale | 0 | 5,601 | ||
Maturities of financial assets available for sale | 0 | 3,545 | ||
Maturities of securities held to maturity | 0 | 0 | ||
Sale of equity method investments | 29 | 24 | ||
Sale of property and equipment | 289 | 39 | ||
Purchase of [Abstract] | ||||
Financial assets at fair value through other comprehensive income | (17,114) | 0 | ||
Debt securities held to collect at amortized cost | (126) | 0 | ||
Financial assets available for sale | 0 | (8,587) | ||
Securities held to maturity | 0 | 0 | ||
Equity method investments | 0 | (5) | ||
Property and equipment | (196) | (269) | ||
Net cash received in (paid for) business combinations/divestitures | 101 | 47 | ||
Other, net | (590) | (580) | ||
Net cash provided by (used in) investing activities | 9,936 | (185) | ||
Cash flows from financing activities [Abstract] | ||||
Issuances of subordinated long-term debt | 47 | [3] | 47 | |
Repayments and extinguishments of subordinated long-term debt | (802) | [3] | (32) | |
Issuances of trust preferred securities | 1 | [4] | 0 | |
Repayments and extinguishments of trust preferred securities | (2,723) | [4] | (401) | |
Common shares issued | 0 | 8,037 | ||
Purchases of treasury shares | (3,006) | (5,503) | ||
Sale of treasury shares | 2,838 | 5,267 | ||
Additional Equity Components (AT1) issued | 0 | 0 | ||
Purchases of Additional Equity Components (AT1) | (191) | (114) | ||
Sale of Additional Equity Components (AT1) | 200 | 122 | ||
Coupon on additional equity components, pre tax | (315) | (335) | ||
Dividends paid to noncontrolling interests | 0 | (4) | ||
Net change in noncontrolling interests | 1,204 | (35) | ||
Cash dividends paid to Deutsche Bank shareholders | (227) | (392) | ||
Other, net | 52 | 0 | ||
Net cash provided by (used in) financing activities | (2,922) | 6,657 | ||
Net effect of exchange rate changes on cash and cash equivalents | (63) | (2,367) | ||
Net increase (decrease) in cash and cash equivalents | (27,697) | 45,886 | ||
Cash and cash equivalents at beginning of period | 229,025 | 185,649 | ||
Cash and cash equivalents at end of period | 201,326 | 231,537 | ||
Net cash provided by (used in) operating activities include [Abstract] | ||||
Income taxes paid (received), net | 298 | 306 | ||
Interest paid | 6,911 | 5,524 | ||
Interest and dividends received [Abstract] | ||||
Interest received | 10,989 | 10,808 | ||
Dividend received | 1,702 | 795 | ||
Cash and cash equivalents comprise [Abstract] | ||||
Cash and central bank balances (not included Interest-earning time deposits with central banks) | 193,420 | 225,026 | ||
Interbank balances (w/o central banks) | 7,906 | 6,511 | ||
Total | € 201,326 | € 231,537 | ||
[1] | Included are senior long-term debt issuances of 3,450 million and 2,300 million and repayments and extinguishments of 3,251 million and 1,843 million through June 30, 2018 and June 30, 2017, respectively. | |||
[2] | Included are issuances of 17,288 million and 19,284 million and repayments and extinguishments of 17,720 million and 23,296 million through June 30, 2018 and June 30, 2017, respectively. | |||
[3] | Non-cash changes for Subordinated Long Term Debt are 14 million in total and driven by FX movements of 99 million and FV changes of (105) million. | |||
[4] | Non-cash changes for Trust Preferred Securities are 374 million in total and driven by FX movements of 145 million and FV changes of 170 million. |
Consolidated Statement of Cas10
Consolidated Statement of Cash Flows (Parenthetical) - EUR (€) € in Millions | 6 Months Ended | ||
Jun. 30, 2018 | Jun. 30, 2017 | ||
Consolidated Statement of Cash Flows [Abstract] | |||
Financial liabilities designated at fair value through profit or loss and investment contract liabilities | [1] | € (23,867) | € 4,522 |
thereof: Senior long-term debt issuances | 3,450 | 2,300 | |
thereof: Repayments and extinguishments | 3,251 | 1,843 | |
Senior long-term debt | [2] | (1,412) | (7,017) |
thereof: Issuances | 17,288 | 19,284 | |
thereof: Repayments and extinguishments | 17,720 | 23,296 | |
Total non-cash changes for Subordinated Long Term Debt | 14 | 0 | |
thereof: Driven by FX movements | 99 | 0 | |
thereof: Driven by FV changes | (105) | 0 | |
Non-cash changes for Trust Preferred Securities | 374 | 0 | |
thereof: Driven by FX movements | 145 | 0 | |
thereof: Driven by FV Changes | 170 | 0 | |
Time deposits not included in Interbank balances (w/o central banks) | € 0 | € 0 | |
[1] | Included are senior long-term debt issuances of 3,450 million and 2,300 million and repayments and extinguishments of 3,251 million and 1,843 million through June 30, 2018 and June 30, 2017, respectively. | ||
[2] | Included are issuances of 17,288 million and 19,284 million and repayments and extinguishments of 17,720 million and 23,296 million through June 30, 2018 and June 30, 2017, respectively. |
Net Interest Income and Net Gai
Net Interest Income and Net Gains (Losses) on Financial Assets/Liabilities at Fair Value through Profit or Loss | 3 Months Ended |
Jun. 30, 2018 | |
Net Interest Income and Net Gains (Losses) on Financial Assets/Liabilities at Fair Value through Profit or Loss [Abstract] | |
Disclosure of Net Interest Income and Net Gains (Losses) on Financial Assets/Liabilities at Fair Value through Profit or Loss [text block] | Net Interest Income and Net Gains (Losses) on Financial Assets/Liabilities at Fair Value through Profit or Loss Three months ended Six months ended in € m. Jun 30, 2018 Jun 30, 2017 Jun 30, 2018 Jun 30, 2017 Net interest income 3,429 3,081 6,342 6,138 Trading income 1 (175 ) 1,078 867 2,514 Net gains (losses) on non-trading financial assets mandatory at fair value through profit or loss 46 N/A 24 N/A Net gains (losses) on financial assets/liabilities designated at fair value through profit or loss 275 (234 ) 405 (560 ) Total net gains (losses) on financial assets/liabilities at fair value through profit or loss 147 845 1,296 1,953 Total net interest income and net gains (losses) on financial assets/liabilities 3,576 3,926 7,639 8,091 Sales & Trading (Equity) 426 425 865 905 Sales & Trading (FIC) 1,219 1,520 2,876 3,806 Total Sales & Trading 1,645 1,945 3,741 4,711 Global Transaction Banking 443 464 906 975 Remaining Products (14 ) (261 ) (164 ) (669 ) Corporate & Investment Bank 2,074 2,148 4,482 5,017 Private & Commercial Bank 1,573 1,657 3,103 3,066 Asset Management 18 (10 ) (20 ) 29 Corporate & Other (89 ) 131 73 (20 ) Total net interest income and net gains (losses) on financial assets/liabilities 3,576 3,926 7,639 8,091 1 Trading income includes gains and losses from derivatives not qualifying for hedge accounting. Net interest income for the three months ended June 30, 2018 and six months ended June 30, 2018 included € 23 million and € 46 million respectively, which we re related to government grants under the Targeted Longer-Term Refinancing Operations II (TLTRO II)-program. |
Commission and Fee Income
Commission and Fee Income | 3 Months Ended |
Jun. 30, 2018 | |
Commissions and Fee Income [Abstract] | |
Disclosure of fee and commission income (expense) [text block] | Commissions and Fee Income In the first quarter of 2018, the Group adopted IFRS 15, “Revenue from Contracts with Customers” which requires disaggregation of revenues prior to the deduction of associated expenses. Disaggregation of revenues by product type and business segment – based on IFRS 15 Three months ended Jun 30, 2018 in € m. Corporate & Investment Bank Private & Commercial Bank Asset Management Corporate & Other Total Consolidated Major type of services: Commissions for administration 78 64 6 (0 ) 147 Commissions for assets under management 18 63 801 (0 ) 882 Commissions for other securities 75 7 1 0 83 Underwriting and advisory fees 504 6 0 (7 ) 503 Brokerage fees 305 215 26 0 546 Commissions for local payments 103 258 0 (0 ) 361 Commissions for foreign commercial business 120 36 0 (0 ) 156 Commissions for foreign currency/exchange business 2 2 0 0 4 Commissions for loan processing and guarantees 213 82 0 0 296 Intermediary fees 1 127 0 3 131 Fees for sundry other customer services 201 60 31 1 292 Total fee and commissions income 1,619 920 865 (4 ) 3,400 Gross expense (731 ) Net fees and commissions 2,669 Prior to adoption of IFRS 15 the Group disclosed total commissions and fee income and expenses on a gross basis annually. For the three months ended 3 0 June 2017 , t he disaggregation of c ommissions and fees into f iduciary activities € 1.1 billion , co mmissions, brokers’ fees, mark-ups on securities underwriting and other securities activities € 793 million and f ees for other customer services € 923 million was reported quarterly on a net basis. Six months ended Jun 30, 2018 in € m. Corporate & Investment Bank Private & Commercial Bank Asset Management Corporate & Other Total Consolidated Major type of services: Commissions for administration 150 131 12 (1 ) 292 Commissions for assets under management 32 130 1,617 (0 ) 1,778 Commissions for other securities 142 16 2 0 160 Underwriting and advisory fees 973 10 0 (21 ) 963 Brokerage fees 674 516 45 (0 ) 1,236 Commissions for local payments 209 512 (0 ) (1 ) 721 Commissions for foreign commercial business 241 71 0 (0 ) 311 Commissions for foreign currency/exchange business 4 4 0 (0 ) 7 Commissions for loan processing and guarantees 425 161 0 1 586 Intermediary fees 5 250 0 7 261 Fees for sundry other customer services 380 119 56 1 556 Total fee and commissions income 3,235 1,918 1,731 (15 ) 6,870 Gross expense (1,511 ) Net fees and commissions 5,359 Prior to adoption of IFRS 15 the Group disclosed total commissions and fee income and expenses on a gross basis annually. For the six months ended 3 0 June 2017 , t he disaggregation of c ommissions and fees into f iduciary activities € 2.2 billion , c ommissions, brokers’ fees, mark-ups on securities underwriting and other securities activities € 1.6 billion and f ees for other customer services € 1.9 billion was reported on a net basis. |
General and Administrative Expe
General and Administrative Expenses | 6 Months Ended |
Jun. 30, 2017 | |
General and administrative expenses [Abstract] | |
Disclosure of general and administrative expense [text block] | General and Administrative Expenses Three months ended Six months ended in € m. Jun 30, 2018 Jun 30, 2017 Jun 30, 2018 Jun 30, 2017 IT costs 904 933 1,926 1,869 Regulatory, Tax & Insurance 1,2 196 234 1,098 1,006 Occupancy, furniture and equipment expenses 436 449 871 898 Professional service fees 391 425 784 841 Banking and transaction charges 187 193 362 354 Communication and data services 157 180 313 356 Travel and representation expenses 93 96 191 194 Marketing expenses 78 66 145 126 Other expenses 3 110 147 317 280 Total general and administrative expenses 2,552 2,724 6,008 5,924 1 Regulatory, Tax & Insurance which comprises Bank levy and Insurance and Deposit protection ha s been presented separately in order to provide further transparency. In the Interim Report f or quarter ended June 30 , 2017, these expenses were included within O ther expenses. 2 Includes bank levy of € 11 million for the three months ended June 30 , 2018 and € 21 million for the three months ended June 30 , 2017. Bank levy was € 675 million for six months ended June 30, 2018 and € 561 million for six months ended June 30, 2017. 3 Includes net credit on litigation related expenses of € 31 million f or the three months ended June 30 , 2018 and a net credit of € 26 million for the three months ended June 30 , 2017. Litigation related expenses for six months ended June 30, 2018 were € 35 million and a net credit for six months ended June 30, 2017 was € 57 million . |
Restructuring
Restructuring | 3 Months Ended |
Jun. 30, 2018 | |
Restructuring [Abstract] | |
Disclosure of Restructuring [text block] | Restructuring Restructuring forms part of the Group’s strategy implementation. We have defined measures that aim to strengthen the bank, position it for growth and simplify its organiz ational set-up. The measures also target to reduce adjusted costs through higher efficiency, by optimizing and streamlining processes, and by exploiting synergies. Restructuring expense is comprised of termination benefits, additional expenses covering the acceleration of deferred compensation awards not yet amortized due to the discontinuation of employment and contract termination costs related to real estate. Net restructuring expense by division Three months ended Six months ended in € m. Jun 30, 2018 Jun 30, 2017 Jun 30, 2018 Jun 30, 2017 Corporate & Investment Bank 165 66 178 98 Private & Commercial Bank 11 (4 ) (7 ) (52 ) Asset Management 7 2 9 4 Total Net Restructuring Charges 182 64 181 50 Net restructuring expense by type Three months ended Six months ended in € m. Jun 30, 2018 Jun 30, 2017 Jun 30, 2018 Jun 30, 2017 Restructuring – Staff related 181 64 184 55 Thereof: Termination Payments 90 54 85 38 Retention Acceleration 86 10 94 16 Social Security 5 1 5 1 Restructuring – Non Staff related 1 1 0 (3 ) (4 ) Total net restructuring Charges 182 64 181 50 1 Contract costs, mainly related to real estate and technology. Provisions for restructuring amounted to € (597) million and € (624) million as of June 3 0 , 201 8 and March 31, 201 8 , respectively. The majority of the current provisions for restructuring should be utilized in the next two years. During the three months end ed June 3 0 , 201 8 , 712 full-time equivalent staff were reduced as part of our restructur i ng program . These reductions were identified within : Three months ended Jun 30, 2018 Corporate & Investment Bank 461 Private & Commercial Bank 88 Asset Management 21 Infrastructure 141 Total full-time equivalent staff 712 |
Financial Assets_Liabilities at
Financial Assets/Liabilities at Fair Value through Profit or Loss | 3 Months Ended |
Jun. 30, 2018 | |
Financial Assets/Liabilities at Fair Value through Profit or Loss [Abstract] | |
Disclosure of financial instruments at fair value through profit or loss [text block] | Information on the Consolidated Balance Sheet (unaudited) Financial Assets/Liabilities at Fair Value through Profit or Loss in € m. Jun 30, 2018 Dec 31, 2017 Trading Financial assets: Trading assets: Trading securities 148,811 173,196 Other trading assets 1 11,835 11,466 Total trading assets 160,646 184,661 Positive market values from derivative financial instruments 347,582 361,032 Total Trading Financial assets 508,228 545,693 Non-trading financial assets mandatory at fair value through profit or loss: Securities purchased under resale agreements 39,549 N/A Securities borrowed 21,367 N/A Loans 13,269 N/A Other financial assets mandatory at fair value through profit or loss 19,184 N/A Total Non-trading financial assets mandatory at fair value through profit or loss 93,370 N/A Financial assets designated at fair value through profit or loss: Securities purchased under resale agreements 0 57,843 Securities borrowed 0 20,254 Loans 0 4,802 Other financial assets designated at fair value through profit or loss 673 8,377 Total financial assets designated at fair value through profit or loss 673 91,276 Total financial assets at fair value through profit or loss 602,270 636,970 1 Includes traded loans of € 10.7 billion and € 10.9 billion at June 3 0 , 201 8 and December 31, 201 7 , respectively. in € m. Jun 30, 2018 Dec 31, 2017 Financial liabilities classified as held for trading: Trading liabilities: Trading securities 59,984 71,148 Other trading liabilities 728 314 Total trading liabilities 60,712 71,462 Negative market values from derivative financial instruments 333,375 342,726 Total financial liabilities classified as held for trading 394,087 414,189 Financial liabilities designated at fair value through profit or loss: Securities sold under repurchase agreements 31,340 53,840 Loan commitments 0 8 Long-term debt 6,248 6,439 Other financial liabilities designated at fair value through profit or loss 2,332 3,587 Total financial liabilities designated at fair value through profit or loss 39,920 63,874 Investment contract liabilities 560 574 Total financial liabilities at fair value through profit or loss 434,567 478,636 |
Financial Instruments carried a
Financial Instruments carried at Fair Value | 3 Months Ended |
Jun. 30, 2018 | |
Financial Instruments carried at Fair Value [Abstract] | |
Disclosure of fair value of financial instruments [text block] | Financial Instruments carried at Fair Value Fair Value Hierarchy The financial instruments carried at fair value have been categorized under the three levels of the IFRS fair value hierarchy as follows: Level 1 – Instruments valued using quoted prices in active markets are instruments where the fair value can be determined directly from prices which are quoted in active, liquid markets and where the instrument observed in the market is representative of that being priced in the Group’s inventory. These include: government bonds, exchange-traded derivatives and equity securities traded on active, liquid exchanges. Level 2 – Instruments valued with valuation techniques using observable market data are instruments where the fair value can be determined by reference to similar instruments trading in active markets, or where a technique is used to derive the valuation but where all inputs to that technique are observable. These include: many OTC derivatives; many investment-grade listed credit bonds; some CDS; many collateralized debt obligations (CDO); and many less-liquid equities. Level 3 – Instruments valued using valuation techniques using market data which is not directly observable are instruments where the fair value cannot be determined directly by reference to market-observable information, and some other pricing technique must be employed. Instruments classified in this category have an element which is unobservable and which has a significant impact on the fair value. These include: more-complex OTC derivatives; distressed debt; highly-structured bonds; illiquid asset-backed securities (ABS); illiquid CDO’s (cash and synthetic); monoline exposures; some private equity placements; many commercial real estate (CRE) loans; illiquid loans; and some municipal bonds. Carrying value of the financial instruments held at fair value 1 Jun 30, 2018 Dec 31, 2017 in € m. Quoted prices in active market (Level 1) Valuation technique observable parameters (Level 2) Valuation technique unobservable parameters (Level 3) Quoted prices in active market (Level 1) Valuation technique observable parameters (Level 2) Valuation technique unobservable parameters (Level 3) Financial assets held at fair value: Trading assets 89,787 61,833 9,027 106,075 69,543 9,043 Trading securities 89,494 55,426 3,891 105,792 62,770 4,634 Other trading assets 292 6,407 5,136 283 6,773 4,409 Positive market values from derivative financial instruments 8,342 331,270 7,970 12,280 341,413 7,340 Non-trading financial assets mandatory at fair value through profit or loss 10,764 77,707 4,899 N/A N/A N/A Financial assets designated at fair value through profit or loss 97 560 17 6,547 83,242 1,488 Financial assets mandatory at fair value through OCI 27,190 21,516 106 N/A N/A N/A Financial assets available for sale N/A N/A N/A 29,579 15,713 4,104 Other financial assets at fair value 79 2,589 2 216 3 0 3,258 2 47 3 Total financial assets held at fair value 136,257 495,474 22,235 154,480 513,169 22,022 Financial liabilities held at fair value: Trading liabilities 42,783 17,807 121 53,644 17,817 2 Trading securities 42,780 17,083 121 53,644 17,503 2 Other trading liabilities 4 725 0 0 314 0 Negative market values from derivative financial instruments 8,318 318,745 6,312 9,163 327,572 5,992 Financial liabilities designated at fair value through profit or loss 0 38,592 1,329 4 62,426 1,444 Investment contract liabilities 0 560 0 0 574 0 Other financial liabilities at fair value 41 2,523 2 (476 ) 3 0 1,294 2 (298 ) 3 Total financial liabilities held at fair value 51,143 378,226 7,286 62,810 409,683 7,139 1 Amounts in this table are generally presented on a gross basis, in line with the Group’s accounting policy regarding offsetting of financial instruments, as described in Note 1 “Significant Accounting Policies and Critical Accounting Estimates” of the Annual Report 2017. 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. In 2018, there were transfers of € 1.5 billion from Level 1 to Level 2 on trading securities based on liquidity testing procedures. Valuation Techniques The following is an explanation of the valuation techniques used in establishing the fair value of the different types of financial instruments that the Group trades. Sovereign, Quasi-sovereign and Corporate Debt and Equity Securities – Where there are no recent transactions then fair value may be determined from the last market price adjusted for all changes in risks and information since that date. Where a close proxy instrument is quoted in an active market then fair value is determined by adjusting the proxy value for differences in the risk profile of the instruments. Where close proxies are not available then fair value is estimated using more complex modeling techniques. These techniques include discounted cash flow models using current market rates for credit, interest, liquidity and other risks. For equity securities modeling techniques may also include those based on earnings multiples. Mortgage- and Other Asset-Backed Securities (MBS/ABS) include residential and commercial MBS and other ABS including CDOs. ABS have specific characteristics as they have different underlying assets and the issuing entities have different capital structures. The complexity increases further where the underlying assets are themselves ABS, as is the case with many of the CDO instruments. Where no reliable external pricing is available, ABS are valued, where applicable, using either relative value analysis which is performed based on similar transactions observable in the market, or industry standard valuation models incorporating available observable inputs. The industry standard external models calculate principal and interest payments for a given deal based on assumptions that can be independently price tested. The inputs include prepayment speeds, loss assumptions (timing and severity) and a discount rate (spread, yield or discount margin). These inputs/assumptions are derived from actual transactions, external market research and market indices where appropriate. Loans – For certain loans fair value may be determined from the market price on a recently occurring transaction adjusted for all changes in risks and information since that transaction date. Where there are no recent market transactions then broker quotes, consensus pricing, proxy instruments or discounted cash flow models are used to determine fair value. Discounted cash flow models incorporate parameter inputs for credit risk, interest rate risk, foreign exchange risk, loss given default estimates and amounts utilized given default, as appropriate. Credit risk, loss given default and utilization given default parameters are determined using information from the loan or CDS markets, where available and appropriate. Leveraged loans can have transaction-specific characteristics which can limit the relevance of market-observed transactions. Where similar transactions exist for which observable quotes are available from external pricing services then this information is used with appropriate adjustments to reflect the transaction differences. When no similar transactions exist, a discounted cash flow valuation technique is used with credit spreads derived from the appropriate leveraged loan index, incorporating the industry classification, subordination of the loan, and any other relevant information on the loan and loan counterparty. Over-The-Counter Derivative Financial Instruments – Market standard transactions in liquid trading markets, such as interest rate swaps, foreign exchange forward and option contracts in G7 currencies, and equity swap and option contracts on listed securities or indices are valued using market standard models and quoted parameter inputs. Parameter inputs are obtained from pricing services, consensus pricing ser vices and recently occurring transactions in active markets wherever possible. More complex instruments are modeled using more sophisticated modeling techniques specific for the instrument and are calibrated to available market prices. Where the model output value does not calibrate to a relevant market reference then valuation adjustments are made to the model output value to adjust for any difference. In less active markets, data is obtained from less frequent market transactions, broker quotes and through extrapolation and interpolation techniques. Where observable prices or inputs are not available, management judgment is required to determine fair values by assessing other relevant sources of information such as historical data, fundamental analysis of the economics of the transaction and proxy information from similar transactions. Financial Liabilities Designated at Fair Value through Profit or Loss under the Fair Value Option – The fair value of financial liabilities designated at fair value through profit or loss under the fair value option incorporates all market risk factors including a measure of the Group’s credit risk relevant for that financial liability. The financial liabilities include structured note issuances, structured deposits, and other structured securities issued by consolidated vehicles, which may not be quoted in an active market. The fair value of these financial liabilities is determined by discounting the contractual cash flows using the relevant credit-adjusted yield curve. The market risk parameters are valued consistently to similar instruments held as assets, for example, any derivatives embedded within the structured notes are valued using the same methodology discussed in the “Over-The-Counter Derivative Financial Instruments” section above. Where the financial liabilities designated at fair value through profit or loss under the fair value option are collateralized, such as securities loaned and securities sold under repurchase agreements, the credit enhancement is factored into the fair valuation of the liability. Investment Contract Liabilities – Assets which are linked to the investment contract liabilities are owned by the Group. The investment contract obliges the Group to use these assets to settle these liabilities. Therefore, the fair value of investment contract liabilities is determined by the fair value of the underlying assets (i.e., amount payable on surrender of the policies). Analysis of Financial Instruments with Fair Value Derived from Valuation Some of the instruments in level 3 of the fair value hierarchy have identical or similar offsetting exposures to the unobservable input. However, according to IFRS they are required to be presented as gross assets and liabilities. Trading Securities – Certain illiquid emerging market corporate bonds and illiquid highly structured corporate bonds are included in this level of the hierarchy. In addition, some of the holdings of notes issued by securitization entities, commercial and residential MBS, collateralized debt obligation securities and other ABS are reported here. The decrease in the period was mainly due to sales and settlements offset by p urchase , gains and transfers between levels 2 and 3. Positive and Negative Market Values from Derivative Instruments categorized in this level of the fair value hierarchy are valued based on one or more significant unobservable parameters. The unobservable parameters may include certain correlations, certain longer-term volatilities, certain prepayment rates, credit spreads and other transaction-specific parameters. Level 3 derivatives include certain options where the volatility is unobservable; certain basket options in which the correlations between the referenced underlying assets are unobservable; longer-term interest rate option derivatives; multi-currency foreign exchange derivatives; and certain credit default swaps for which the credit spread is not observable. The increase in the period is driven by gains, transfers between level 2 and 3 and settlements. Other Trading Instruments classified in level 3 of the fair value hierarchy mainly consist of traded loans valued using valuation models based on one or more significant unobservable parameters. Level 3 loans comprise illiquid leveraged loans and illiquid residential and commercial mortgage loans. The increase in the period refers to purchases, issuances, gains and transfers between level 2 and 3 offset by sales and settlements. Non trading financial Assets mandatory at Fair Value through Profit or Loss (2018) classified in level 3 of fair value hierarchy consist of financial instruments included in other business model originated, acquired principally for the purpose of selling or repurchasing them in near future and unlisted equity instruments where there is no close proxy and the market is very illiquid. Additionally this classification includes any instrument for which the contractual cash flow characteristics are not SPPI. The increase in the period is driven by purchases and gains offset by sales and settlements and transfers between level 2 and 3. Financial Assets/Liabilities designated at Fair Value through Profit or Loss – Certain corporate loans and structured liabilities which were designated at fair value through profit or loss under the fair value option are categorized in this level of the fair value hierarchy. The corporate loans are valued using valuation techniques which incorporate observable credit spreads, recovery rates and unobservable utilization parameters. Revolving loan facilities are reported in the third level of the hierarchy because the utilization in the event of the default parameter is significant and unobservable. In addition, certain hybrid debt issuances designated at fair value through profit or loss containing embedded derivatives are valued based on significant unobservable parameters. These unobservable parameters include single stock volatility correlations. The decrease in assets during the period is due to settlements, transfers between level 2 and 3 and losses. Liabilities decreased due transfers between levels 2 and 3 settlements and gains offset by issuance. Financial assets mandatorily at fair value through OCI (2018) / Financial Assets Available for Sale (2017) include non-performing loan portfolios where there is no trading intent and the market is very illiquid . Assets decreased due to transfers between levels 2 and 3, sales, settlements and losses offset by purchases. Reconciliation of financial instruments classified in Level 3 Jun 30, 2018 in € m. Balance, beginning of year Changes in the group of consoli- dated com- panies Total gains/ losses 1 Purchases Sales Issu- ances 2 Settle- ments 3 Transfers into Level 3 4 Transfers out of Level 3 4 Balance, end of period Financial assets Trading securities 4,148 0 19 1,228 (1,437 ) 0 (318 ) 1,087 (835 ) 3,891 Positive market 7,340 0 471 0 0 0 9 1,521 (1,371 ) 7,970 Other trading 4,426 0 117 606 (921 ) 940 (402 ) 603 (234 ) 5,136 Non-trading financial assets mandatory at fair value through profit or loss 4,573 0 207 1,413 (414 ) 1 (780 ) 247 (348 ) 4,899 Financial assets 91 0 (49 ) 0 0 0 (23 ) 0 (2 ) 17 Financial assets mandatory at fair value through OCI 231 0 (2 ) 5 71 (25 ) 0 (7 ) 3 (165 ) 106 Other financial 47 0 (3 ) 0 0 0 (9 ) 212 (32 ) 216 Total financial assets 20,855 8 0 761 6,7 3,319 (2,796 ) 941 (1,530 ) 3,672 (2,987 ) 22,235 Financial liabilities Trading securities 2 0 1 0 0 0 0 120 (1 ) 121 Negative market 5,992 0 407 0 0 0 23 1,073 (1,182 ) 6,312 Other trading 0 0 0 0 0 0 0 0 0 0 Financial liabilities 1,444 0 (187 ) 0 0 309 (107 ) 17 (146 ) 1,329 Other financial (298 ) 0 (204 ) 0 0 0 4 60 (39 ) (476 ) Total financial 7,139 0 16 6,7 0 0 309 (80 ) 1,269 (1,368 ) 7,286 1 Total gains and losses predominantly relate to net gains (losses) on financial assets/liabilities at fair value through profit or loss reported in the consolidated statement of income. The balance also includes net gains (losses) on financial assets available for sale reported in the consolidated statement of income and unrealized net gains (losses) on financial assets available for sale and exchange rate changes reported in other comprehensive income, net of tax. Further, certain instruments are hedged with instruments in level 1 or level 2 but the table above does not include the gains and losses on these hedging instruments. Additionally, both observable and unobservable parameters may be used to determine the fair value of an instrument classified within level 3 of the fair value hierarchy; the gains and losses presented below are attributable to movements in both the observable and unobservable parameters. 2 Issuances relate to the cash amount received on the issuance of a liability and the cash amount paid on the primary issuance of a loan to a borrower. 3 Settlements represent cash flows to settle the asset or liability. For debt and loan instruments this includes principal on maturity, principal amortizations and principal repayments. For derivatives all cash flows are presented in settlements. 4 Transfers in and transfers out of level 3 are related to changes in observability of input parameters. During the period they are recorded at their fair value at the beginning of year. For instruments transferred into level 3 the table shows the gains and losses and cash flows on the instruments as if they had been transferred at the beginning of the year. Similarly for instruments transferred out of level 3 the table does not show any gains or losses or cash flows on the instruments during the period since the table is presented as if they have been transferred out at the beginning of the year. 5 Total gains and losses on financial assets mandatory at fair value through OCI include a loss of € 6 million recognized in other comprehensive income, net of tax and a loss of € 3 million recognized in the income statement presented in net gains (losses ) . 6 This amount includes the effect of exchange rate changes. For total financial assets held at fair value this effect is a gain of € 73 million and for total financial liabilities held at fair value this is a loss of € 19 million . The effect of exchange rate changes is reported in accumulated other comprehensive income, net of tax. 7 For assets, positive balances represent gains, negative balances represent losses. For liabilities, positive balances represent losses , negative balances represent gains. 8 Opening balance have been restated due to reassessment of trades due to IFRS 9 . Jun 30, 2017 in € m. Balance, beginning of year Changes in the group of consoli- dated com- panies Total gains/ losses 1 Purchases Sales Issu- ances 2 Settle- ments 3 Transfers into Level 3 4 Transfers out of Level 3 4 Balance, end of period Financial assets Trading securities 5,012 0 (24 ) 843 (1,176 ) 0 (229 ) 1,162 (752 ) 4,836 Positive market 9,798 0 (638 ) 0 0 0 (645 ) 2,204 (2,498 ) 8,221 Other trading 5,674 (7 ) (317 ) 924 (1,734 ) 261 (622 ) 584 (569 ) 4,194 Financial assets 1,601 0 (62 ) 88 (76 ) 71 (318 ) 117 (256 ) 1,166 Financial assets 4,153 (2 ) 121 5 93 (61 ) 0 (537 ) 208 (25 ) 3,950 Other financial 33 0 (2 ) 0 0 0 (14 ) 0 0 18 Total financial assets 26,271 (8 ) (921 ) 6,7 1,948 (3,048 ) 332 (2,364 ) 4,274 (4,100 ) 22,384 Financial liabilities Trading securities 52 0 (3 ) 0 0 0 (44 ) 0 0 5 Negative market 8,857 0 (544 ) 0 0 0 (444 ) 844 (1,697 ) 7,016 Other trading 0 0 0 0 0 0 0 0 0 0 Financial liabilities 2,229 (7 ) (36 ) 0 0 119 (102 ) 70 (370 ) 1,904 Other financial (848 ) 0 140 0 0 0 36 (18 ) 54 (636 ) Total financial 10,290 (7 ) (442 ) 6,7 0 0 119 (554 ) 897 (2,013 ) 8,289 1 Total gains and losses predominantly relate to net gains (losses) on financial assets/liabilities at fair value through profit or loss reported in the consolidated statement of income. The balance also includes net gains (losses) on financial assets available for sale reported in the consolidated statement of income and unrealized net gains (losses) on financial assets available for sale and exchange rate changes reported in other comprehensive income, net of tax. Further, certain instruments are hedged with instruments in level 1 or level 2 but the table above does not include the gains and losses on these hedging instruments. Additionally, both observable and unobservable parameters may be used to determine the fair value of an instrument classified within level 3 of the fair value hierarchy; the gains and losses presented below are attributable to movements in both the observable and unobservable parameters. 2 Issuances relate to the cash amount received on the issuance of a liability and the cash amount paid on the primary issuance of a loan to a borrower. 3 Settlements represent cash flows to settle the asset or liability. For debt and loan instruments this includes principal on maturity, principal amortizations and principal repayments. For derivatives all cash flows are presented in settlements. 4 Transfers in and transfers out of level 3 are related to changes in observability of input parameters. During the period they are recorded at their fair value at the beginning of year. For instruments transferred into level 3 the table shows the gains and losses and cash flows on the instruments as if they had been transferred at the beginning of the year. Similarly for instruments transferred out of level 3 the table does not show any gains or losses or cash flows on the instruments during the period since the table is presented as if they have been transferred out at the beginning of the year. 5 Total gains and losses on financial assets available for sale include a gain of € 26 million recognized in other comprehensive income, net of tax, and a gain of € 23 million recog nized in the income statement presented in net gains (losses) on financial assets available for sale. 6 This amount includes the effect of exchange rate changes. For total financial assets held at fair value this effect is a loss of € 327 million and for total financial liabilities held at fair value this is a gain of € 75 million . The effect of exchange rate changes is reported in accumulated other comprehensive income, net of tax. 7 For assets, positive balances represent gains, negative balances represent losses . For liabilities, positive balances represent losses, negative balances represent gains. Sensitivity Analysis of Unobservable Parameters Where the value of financial instruments is dependent on unobservable parameter inputs, the precise level for these parameters at the balance sheet date might be drawn from a range of reasonably possible alternatives. In preparing the financial statements, appropriate levels for these unobservable input parameters are chosen so that they are consistent with prevailing market evidence and in line with the Group’s approach to valuation control detailed above. Were the Group to have marked the financial instruments concerned using parameter values drawn from the extremes of the ranges of reasonably possible alternatives , then as of June 30, 2018 it could have increased fair value by as much as € 1.5 billion or decreased fair value by as much as € 847 million . As of December 31, 2017 it could have increased fair value by as much as € 1.6 billion or decreased fair value by as much as € 1.0 billion . The changes in sensitive amounts from December 31, 2017 to June 30, 2018 are therefore a reduction in positive fair value movement of € 34 million , and a reduction in negative fair value movement of € 153 million . The reductions in positive and negative fair value movements run contrary to the actual increase in Group Level 3 assets in the period, from € 22.0 billion at December 31 , 2017 to € 22.2 billion at June 30 , 2018, whereas Group Level 3 liabilities increased marginally from € 7.1 billion at December 31 , 2017 to € 7.3 billion at June 30 , 2018. The contrary direction of reductions in positive and negative fair value movements versus increasing Group Level 3 year to date remains primarily driven by changes to the underlying Level 3 population as a result of IFRS 9 implementation in the first quarter of 2018. A significant subset of positions which moved from fair value through profit and loss to amortized cost due to IFR S 9 were n on- performing l oans, which had previously contributed materially to both the positive and negative fair value movement totals given the material valuation uncertainty associated with such assets. Further idiosyncratic factors, across a number of trades, results in the reduction in positive fair value movement being proportionally smaller than the reduction in negative fair value movement, these factors include refinements to certain trade specific methodologies. 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 mechani sm for quantifying and capitaliz ing valuation uncertainty in accordance with the European Commission Delegated Regulation (EU) 2016/101, which supplements Article 34 of Regulation (EU) No. 575/2013 (CRR), requiring institutions to apply a deduction from CET 1 the amount of any additional value adjustments on all assets measured at fair value calculated in accordance with Article 105(14). This utiliz es exit price analysis performed for the relevant as-sets 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 Jun 30, 2018 Dec 31, 2017 in € m. Positive fair value movement from using reasonable possible alternatives Negative fair value movement from using reasonable possible alternatives Positive fair value movement from using reasonable possible alternatives Negative fair value movement from using reasonable possible alternatives Securities: Debt securities 134 80 126 90 Commercial mortgage-backed securities 4 4 6 6 Mortgage and other asset-backed securities 29 27 26 28 Corporate, sovereign and other debt securities 101 49 94 56 Equity securities 71 52 95 67 Derivatives: Credit 149 94 155 125 Equity 212 172 164 138 Interest related 286 153 340 173 Foreign exchange 53 12 65 12 Other 147 106 106 73 Loans: Loans 472 179 504 320 Loan commitments 0 0 0 0 Other 0 0 0 0 Total 1,522 847 1,556 999 1 Where the exposure to an unobservable parameter is offset across different instruments then only the net impact is disclosed in the table. Quantitative Information about the Sensitivity of Significant Unobservable The behavior of the unobservable parameters on Level 3 fair value measurement is not necessarily independent, and dynamic relationships often exist between the other unobservable parameters and the observable parameters. Such relationships, where material to the fair value of a given instrument, are explicitly captured via correlation parameters, or are otherwise controlled via pricing models or valuation techniques. Frequently, where a valuation technique utilizes more than one input, the choice of a certain input will bound the range of possible values for other inputs. In addition, broader market factors (such as interest rates, equity, credit or commodity indices or foreign exchange rates) can also have effects. The range of values shown below represents the highest and lowest inputs used to value the significant exposures within Level 3. The diversity of financial instruments that make up the disclosure is significant and therefore the ranges of certain parameters can be large. For example, the range of credit spreads on mortgage backed securities represents performing, more liquid positions with lower spreads than the less liquid, non-performing positions which will have higher credit spreads. As Level 3 contains the less liquid fair value instruments, the wide ranges of parameters seen is to be expected, as there is a high degree of pricing differentiation within each exposure type to capture the relevant market dynamics. There follows a brief description of each of the principle parameter types, along with a commentary on significant interrelationships between them. Credit Parameters are used to assess the creditworthiness of an exposure, by enabling the probability of default and resulting losses of a default to be represented. The credit spread is the primary reflection of creditworthiness, and represents the premium or yield return above the benchmark reference instrument (typically LIBOR, or relevant Treasury Instrument, depending upon the asset being assessed), that a bond holder would require to allow for the credit quality difference between that entity and the reference benchmark. Higher credit spreads will indicate lower credit quality, and lead to a lower value for a given bond, or other loan-asset that is to be repaid to the Bank by the borrower. Recovery Rates represent an estimate of the amount a lender would receive in the case of a default of a loan, or a bond holder would receive in the case of default of the bond. Higher recovery rates will give a higher valuation for a given bond position, if other parameters are held constant. Constant Default Rate (CDR) and Constant Prepayment Rate (CPR) allow more complex loan and debt assets to be assessed, as these parameters estimate the ongoing defaults arising on scheduled repayments and coupons, or whether the borrower is making additional (usually voluntary) prepayments. These parameters are particularly relevant when forming a fair value opinion for mortgage or other types of lending, where repayments are delivered by the borrower through time, or where the borrower may pre-pay the loan (seen for example in some residential mortgages). Higher CDR will lead to lower valuation of a given loan or mortgage as the lender will ultimately receive less cash. Interest rates, credit spreads, inflation rates, foreign exchange rates and equity prices are referenced in some option instruments, or other complex derivatives, where the payoff a holder of the derivative will receive is dependent upon the behavior of these underlying references through time. Volatility parameters describe key attributes of option behavior by enabling the variability of returns of the underlying instrument to be assessed. This volatility is a measure of probability, with higher volatilities denoting higher probabilities of a particular outcome occurring. The underlying references (interest rates, credit spreads etc.) have an effect on the valuation of options, by describing the size of the re |
Fair Value of Financial Instrum
Fair Value of Financial Instruments not carried at Fair Value | 3 Months Ended |
Jun. 30, 2018 | |
Fair Value of Financial Instruments not carried at Fair Value [Abstract] | |
Disclosure of Fair Value of Financial Instruments not carried at Fair Value [text block] | Fair Value of Financial Instruments not carried at Fair Value This section should be read in conjunction with Note 14 “Fair Value of Financial Instruments not carried at Fair Value” of the Group’s Annual Report 2017. The valuation techniques used to establish fair value for the Group’s financial instruments which are not carried at fair value in the balance sheet are consistent with those outlined in Note 13 “Financial Instruments carried at Fair Value” of the Group’s Annual Report 2017. Other financial instruments not carried at fair value are not managed on a fair value basis, for example, retail loans and deposits and credit facilities extended to corporate clients. For these instruments fair values are calculated for disclosure purposes only and do not impact the balance sheet or income statement. Additionally, since the instruments generally do not trade there is significant management judgment required to determine these fair values. Estimated fair value of financial instruments not carried at fair value on the balance sheet 1 Jun 30, 2018 Dec 31, 2017 in € m. Carrying value Fair value Carrying value Fair value Financial assets: Cash and central bank balances 208,086 208,086 225,655 225,655 Interbank deposits (w/o central banks) 10,872 10,872 9,265 9,265 Central bank funds sold and securities purchased under resale agreements 7,725 7,727 9,971 9,973 Securities borrowed 916 916 16,732 16,732 Loans 390,965 389,910 401,699 403,842 Securities held to maturity N/A N/A 3,170 3,238 Other financial assets 114,319 114,474 88,936 88,939 Financial liabilities: Deposits 558,486 558,902 581,873 582,006 Central bank funds purchased and securities sold under repurchase 14,310 14,309 18,105 18,103 Securities loaned 6,486 6,486 6,688 6,688 Other short-term borrowings 17,693 17,692 18,411 18,412 Other financial liabilities 134,593 134,593 117,366 117,366 Long-term debt 157,553 156,566 159,715 161,829 Trust preferred securities 3,143 3,265 5,491 5,920 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” of the Group’s Annual Report 2017. |
Financial Assets Available for
Financial Assets Available for Sale | 3 Months Ended |
Jun. 30, 2018 | |
Financial Assets Available for Sale [Abstract] | |
Disclosure of available for sale financial assets [text block] | Financial Assets Available for Sale in € m. Jun 30, 2018 Dec 31, 2017 Debt securities N/A 45,081 Equity securities N/A 994 Other equity interests N/A 636 Loans N/A 2,685 Total financial assets available for sale N/A 49,397 |
Financial Instruments Held to M
Financial Instruments Held to Maturity | 3 Months Ended |
Jun. 30, 2018 | |
Financial Instruments Held to Maturity [Abstract] | |
Disclosure of Financial Instruments Held to Maturity [text block] | Securities Held to Maturity In the first quarter of 2016, the Group began to use the Held to Maturity category to more appropriately present income and capital volatility in its banking book. In addition to managing the Group’s existing banking book exposure to interest rates, this accounting classification supports certain of the Group’s asset liability management objectives, e.g. maturity transformation . T he Group reclassified € 3 .2 billion of securities held A vailable for S ale to Held to Maturity investments effective Jan uary 4, 2016. All reclassified assets are high quality Government , supranational and agency bonds and are managed by Group Treasury as part of the Group’s Strategic Liquidity Reserve. Carrying values and fair values of financial assets reclassified from Available for Sale to Held to Maturity Jun 30, 2018 Dec 31, 2017 in € m. Carrying value (CV) Fair Value (FV) Carrying value (CV) Fair Value (FV) Debt securities reclassified: G7 Government bonds N/A N/A 423 434 Other Government, supranational and agency bonds N/A N/A 2,747 2,804 Total financial assets reclassified to Held-to-Maturity N/A N/A 3,170 3,238 |
Offsetting Financial Assets and
Offsetting Financial Assets and Financial Liabilities | 3 Months Ended |
Jun. 30, 2018 | |
Offsetting Financial Assets and Financial Liabilities [Abstract] | |
Disclosure of offsetting of financial assets and financial liabilities [text block] | Offsetting Financial Assets and Financial Liabilities The Group is eligible to present certain financial assets and financial liabilities on a net basis on the balance sheet pursuant to criteria described in Note 1 “Significant Accounting Policies and Critical Accounting Estimates: Offsetting Financial Instruments” of the Group’s Annual Report 2017 . 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 Jun 30, 2018 Amounts not set off on the balance sheet in € m. Gross amounts of financial assets Gross amounts set off on the balance sheet Net amounts of financial assets pre- sented on the balance sheet Impact of Master Netting Agreements Cash collateral Financial instrument collateral 1 Net amount Central bank funds sold and securities purchased 6,372 (606 ) 5,766 0 0 (5,766 ) 0 Central bank funds sold and securities purchased 1,959 0 1,959 0 0 (1,959 ) 0 Securities borrowed (enforceable) 505 0 505 0 0 (498 ) 7 Securities borrowed (non-enforceable) 411 0 411 0 0 (310 ) 101 Financial assets at fair value through profit or loss (enforceable) 456,892 (73,789 ) 383,103 (276,634 ) (38,361 ) (58,618 ) 9,490 Thereof: Positive market values from derivative financial 350,074 (19,224 ) 330,850 (275,587 ) (38,413 ) (7,347 ) 9,503 Financial assets at fair value through profit or loss (non- enforceable) 219,167 0 219,167 0 (2,072 ) (10,408 ) 206,687 Thereof: Positive market values from derivative financial 16,732 0 16,732 0 (2,072 ) (1,358 ) 13,302 Total financial assets at fair value through 676,059 (73,789 ) 602,270 (276,634 ) (40,433 ) (69,025 ) 216,178 Loans 390,965 0 390,965 0 (12,987 ) (42,139 ) 335,839 Other assets 149,129 (18,466 ) 130,663 (32,143 ) (439 ) (84 ) 97,997 Thereof: Positive market values from derivatives 3,379 (527 ) 2,852 (2,288 ) (438 ) (84 ) 42 Remaining assets subject to netting 1,703 0 1,703 0 0 (2,005 ) (302 ) Remaining assets not subject to netting 286,717 0 286,717 0 (272 ) (95 ) 286,350 Total assets 1,513,821 (92,861 ) 1,420,960 (308,777 ) (54,131 ) (121,881 ) 936,171 1 Excludes real estate and other n on -f inancial i nstrument collateral . Liabilities Jun 30, 2018 Amounts not set off on the balance sheet in € m. Gross amounts of financial liabilities Gross amounts set off on the balance sheet Net amounts of financial liabilities pre- sented on the balance sheet Impact of Master Netting Agreements Cash collateral Financial instrument collateral Net amount Deposit 558,486 0 558,486 0 0 0 558,486 Central bank funds purchased and securities sold 13,116 (606 ) 12,510 0 0 (12,510 ) 0 Central bank funds purchased and securities sold 1,800 0 1,800 0 0 (1,500 ) 300 Securities loaned (enforceable) 6,408 0 6,408 0 0 (6,408 ) 0 Securities loaned (non-enforceable) 78 0 78 0 0 (29 ) 49 Financial liabilities at fair value through profit or loss (enforceable) 416,467 (73,209 ) 343,258 (274,537 ) (27,506 ) (27,943 ) 13,272 Thereof: Negative market values from derivative financial instruments (enforceable) 337,659 (19,114 ) 318,545 (276,031 ) (27,973 ) (4,820 ) 9,721 Financial liabilities at fair value through profit or loss (non- enforceable) 91,309 0 91,309 0 (3,936 ) (7,556 ) 79,817 Thereof: Negative market values from derivative financial instruments (non-enforceable) 14,830 0 14,830 0 (1,882 ) (723 ) 12,225 Total financial liabilities at fair value through 507,776 (73,209 ) 434,567 (274,537 ) (31,443 ) (35,500 ) 93,087 Other liabilities 174,141 (19,046 ) 155,095 (42,329 ) (107 ) (122 ) 112,537 Thereof: Negative market values from derivatives 2,655 (562 ) 2,093 (1,844 ) (104 ) (122 ) 23 Remaining liabilities not subject to netting 183,154 0 183,154 0 0 0 183,154 Total liabilities 1,444,960 (92,861 ) 1,352,099 (316,865 ) (31,550 ) (56,069 ) 947,615 Assets Dec 31, 2017 Amounts not set off on the balance sheet in € m. Gross amounts of financial assets Gross amounts set off on the balance sheet Net amounts of financial assets pre- sented on the balance sheet Impact of Master Netting Agreements Cash collateral Financial instrument collateral 1 Net amount Central bank funds sold and securities purchased 8,136 (455 ) 7,681 0 0 (7,675 ) 7 Central bank funds sold and securities purchased 2,290 0 2,290 0 0 (2,239 ) 51 Securities borrowed (enforceable) 14,987 0 14,987 0 0 (14,093 ) 894 Securities borrowed (non-enforceable) 1,744 0 1,744 0 0 (1,661 ) 83 Financial assets at fair value through profit or loss Trading assets 185,127 (465 ) 184,661 0 (81 ) (86 ) 184,495 Positive market values from derivative financial 363,859 (18,237 ) 345,622 (285,421 ) (41,842 ) (7,868 ) 10,490 Positive market values from derivative financial 15,410 0 15,410 0 (1,811 ) (1,276 ) 12,323 Financial assets designated at fair value through 125,869 (64,003 ) 61,865 (728 ) (773 ) (56,410 ) 3,954 Financial assets designated at fair value through 29,411 0 29,411 0 0 (20,534 ) 8,876 Total financial assets at fair value through 719,676 (82,706 ) 636,970 (286,149 ) (44,508 ) (86,174 ) 220,138 Loans 401,699 0 401,699 0 (12,642 ) (40,775 ) 348,282 Other assets 112,023 (10,531 ) 101,491 (29,854 ) (569 ) (94 ) 70,975 Thereof: Positive market values from derivatives 3,859 (706 ) 3,153 (2,461 ) (565 ) (94 ) 33 Remaining assets not subject to netting 307,869 0 307,869 0 (390 ) (70 ) 307,409 Total assets 1,568,425 (93,692 ) 1,474,732 (316,003 ) (58,109 ) (152,782 ) 947,839 1 Excludes real estate and other n on -f inancial i nstrument collateral . Liabilities Dec 31, 2017 Amounts not set off on the balance sheet in € m. Gross amounts of financial liabilities Gross amounts set off on the balance sheet Net amounts of financial liabilities pre- sented on the balance sheet Impact of Master Netting Agreements Cash collateral Financial instrument collateral Net amount Deposit 581,873 0 581,873 0 0 0 581,873 Central bank funds purchased and securities sold 13,318 (455 ) 12,863 0 0 (12,863 ) 0 Central bank funds purchased and securities sold 5,242 0 5,242 0 0 (4,985 ) 257 Securities loaned (enforceable) 6,688 0 6,688 0 0 (6,688 ) 0 Securities loaned (non-enforceable) 0 0 0 0 0 0 0 Financial liabilities at fair value through profit or loss Trading liabilities 72,106 (643 ) 71,462 0 0 0 71,462 Negative market values from derivative financial instruments (enforceable) 347,496 (17,928 ) 329,568 (286,720 ) (25,480 ) (6,124 ) 11,244 Negative market values from derivative financial instruments (non-enforceable) 13,158 0 13,158 0 (1,913 ) (615 ) 10,630 Financial liabilities designated at fair value 104,594 (63,360 ) 41,234 (728 ) 0 (40,506 ) 0 Financial liabilities designated at fair value 23,214 0 23,214 0 1,111 (13,646 ) 10,679 Total financial liabilities at fair value through 560,568 (81,932 ) 478,636 (287,448 ) (26,282 ) (60,891 ) 104,015 Other liabilities 143,514 (11,306 ) 132,208 (44,815 ) (31 ) (87 ) 87,275 Thereof: Negative market values from derivatives 1,841 (547 ) 1,294 (1,162 ) (31 ) (87 ) 15 Remaining liabilities not subject to netting 190,183 0 189,122 0 0 0 189,122 Total liabilities 1,500,326 (93,692 ) 1,406,633 (332,263 ) (26,314 ) (85,514 ) 962,542 Detailed information of what is presented in the individual columns are described in Note 18 “Offsetting Financial Assets and Financial Liabilities” of the Group’s Annual Report 2017 . |
Allowance for Credit Losses
Allowance for Credit Losses | 3 Months Ended |
Jun. 30, 2018 | |
Allowance for Credit Losses [Abstract] | |
Disclosure of allowance for credit losses [text block] | Allowance for Credit Losses Allowance for Credit Losses under IFRS 9 Development of allowance for credit losses for Financial Assets at Amortized Cost Jun 30, 2018 Allowance for Credit Losses³ in € m. Stage 1 Stage 2 Stage 3 Stage 3 POCI Total Balance, beginning of year (462 ) (494 ) (3,638 ) (3 ) (4,596 ) Movements in financial assets including new business 88 (152 ) (126 ) 2 (188 ) Transfers due to changes in creditworthiness (110 ) 122 (12 ) 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 0 362 0 362 Recovery of written off amounts 0 0 (110 ) 0 (110 ) Foreign exchange and other changes 24 19 29 (8 ) 64 Balance, end of reporting period (460 ) (504 ) (3,495 ) (9 ) (4,468 ) Provision for Credit Losses excluding country risk¹ (22 ) (30 ) (138 ) 2 (188 ) 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 This position represents charge offs of allowance for credit losses. 3 Allowance for credit losses does not include allowance for country risk amounting to € 5 million as of June 30, 2018. Development of allowance for credit losses for Off-balance Sheet Positions Jun 30, 2018 Allowance for Credit Losses² in € m. Stage 1 Stage 2 Stage 3 Stage 3 POCI Total Balance, beginning of year (117 ) (36 ) (119 ) 0 (272 ) Movements including new business 16 (11 ) (2 ) 0 4 Transfers due to changes in creditworthiness (9 ) 9 0 N/M 0 Changes in models 0 0 0 0 0 Foreign exchange and other changes (11 ) (12 ) (16 ) 0 (39 ) Balance, end of reporting period (121 ) (49 ) (136 ) 0 (307 ) Provision for Credit Losses excluding country risk¹ 7 (1 ) (2 ) 0 4 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 as of June 30, 2018. Allowance for Credit Losses under IAS 39 Six months ended Jun 30, 2017 Allowance for Loan Losses Allowance for Off-Balance Sheet Positions in € m. Individually assessed Collectively assessed Subtotal Individually assessed Collectively assessed Subtotal Total Balance, beginning of year 2,071 2,475 4,546 162 183 346 4,892 Provision for credit losses 109 101 211 9 (8 ) 1 212 Thereof: (Gains)/Losses from (1 ) (20 ) (21 ) 0 0 0 (21 ) Net charge-offs: (264 ) (430 ) (694 ) 0 0 0 (694 ) Charge-offs (286 ) (462 ) (748 ) 0 0 0 (748 ) Recoveries 22 32 54 0 0 0 54 Other changes (78 ) (31 ) (109 ) (2 ) (10 ) (12 ) (122 ) Balance, end of period 1,838 2,115 3,953 169 166 335 4,288 Changes compared to prior year Provision for credit losses In € m. (197 ) (171 ) (368 ) 27 (10 ) 16 (352 ) In % (64) % (63) % (64) % (150) % (360) % (110) % (62) % Net charge-offs In € m. 192 167 359 0 0 0 359 In % (42) % (28) % (34) % 0 % 0 % 0 % (34) % |
Leases
Leases | 3 Months Ended |
Jun. 30, 2018 | |
Leases [Abstract] | |
Disclosure of leases [text block] | IFRS 16 Leases In January 2016, the IASB issued IFRS 16, “Leases”, which introduces a single lessee accounting model and requires a lessee to recognize assets and liabilities for all leases with a term of more than 12 months, unless the underlying asset is of low value. A lessee is required to recognize a right-of-use asset representing its right to use the underlying leased asset and a lease liability representing its obligation to make lease payments. There will be only minor changes to the current accounting for lessors. The standard also requires entities to provide users of financial statements with more informative and relevant disclosures. IFRS 16 is effective for annual periods beginning on or after January 1, 2019. The Group is currently assessing the impact of IFRS 16. The standard has been endorsed by the EU. |
Goodwill and Other Intangible A
Goodwill and Other Intangible Assets | 3 Months Ended |
Jun. 30, 2018 | |
Goodwill and Other Intangible Assets [Abstract] | |
Disclosure of intangible assets and goodwill [text block] | Goodwill Changes in Goodwill The changes in the carrying amount of goodwill, as well as gross amounts and accumulated impairment losses of goodwill, for the period ended June 30, 2016 are shown below by cash-generating units (“CGU”). As of January 1, 2016, the structure of the primary CGUs has been changed, following the reorganization of business operations under a new segment structure. Please refer to the “Segment Information” note to the consolidated financial statements for information regarding changes in the presentation of the segment disclosure . Goodwill allocated to cash-generating units in € m. Sales & Trading Global Transaction Banking, Global Capital Markets & Corporate Finance Private and Commercial Clients Wealth Manage- ment Postbank Asset Manage- ment Others Total Balance as of January 1, 2017 0 0 0 0 0 0 0 0 Goodwill acquired during the year 0 0 0 0 0 0 0 0 Purchase accounting adjustments 0 0 0 0 0 0 0 0 Transfers 0 0 0 0 0 0 0 0 Reclassification from (to) “held for sale” 0 0 0 0 0 0 0 0 Goodwill related to dispositions without 0 0 0 0 0 0 0 0 Impairment losses 0 0 0 0 0 0 0 0 Exchange rate changes/other 0 0 0 0 0 0 0 0 Balance as of December 31, 2017 0 0 0 0 0 0 0 0 Gross amount of goodwill 0 0 0 0 0 0 0 0 Accumulated impairment losses 0 0 0 0 0 0 0 0 Balance as of January 1, 2018 0 0 0 0 0 0 0 0 Goodwill acquired during the year 0 0 0 0 0 0 0 0 Purchase accounting adjustments 0 0 0 0 0 0 0 0 Transfers 0 0 0 0 0 0 0 0 Reclassification from (to) “held for sale” 0 0 0 0 0 0 0 0 Goodwill related to dispositions 0 0 0 0 0 0 0 0 Impairment losses 2 0 0 0 0 0 0 0 0 Exchange rate changes/other 0 0 0 0 0 0 0 0 Balance as of Jun 30, 2018 0 0 0 0 0 0 0 0 Gross amount of goodwill 0 0 0 0 0 0 0 0 Accumulated impairment losses 0 0 0 0 0 0 0 0 1 Includes primary CGUs NCOU Wholesale Assets and NCOU Operating Assets. 2 Impairment losses of goodwill are recorded as impairment of goodwill and other intangible assets in the income statement. In addition to the primary CGUs, the segments GM and NCOU carry goodwill resulting from the acquisition of nonintegrated investments which are not allocated to the respective segments’ primary CGUs. Such goodwill is summarized as “Others” in the table above. The nonintegrated investment in the NCOU consist s of Maher Terminals LLC. Goodwill Impairment Test For the purposes of impairment testing, goodwill acquired in a business combination is allocated to the CGUs as outlined above . In a g oodwill i mpairment t est , the recoverable amounts of the goodwill-carrying CGUs are compared with the respective carrying amounts. The recoverable amount is the higher of a CGU’s fair value less costs of disposal and its value in use. As the implementation of the Group’s Strategy 2020 in the first quarter resulted in a reallocation of g oodwill between CGUs, an impairment test was performed as of January 1, 2016 . This test did not r esult in a goodwill impairment. A review of the significant parameters of that test as of March 31, 2016 confirmed there was no indication that the remaining goodwill in the primary CGUs was impaired. Carrying Amount The carrying amount of a primary CGU is derived using a capital allocation model. The allocation uses the Group’s total equity at the date of valuation, including Additional Tier 1 Notes (“AT1 Notes”), which constitute unsecured and subordinated notes of Deutsche Bank and which are classified as Additional equity components in accordance with IFRS. Total equity is adjusted for specific effects related to nonintegrated investments, which are tested separately for impairment, and for an add-on adjustment for goodwill attributable to noncontrolling interests. The carrying amount (excluding the AT1 Notes) is allocated to the primary CGUs in a two-step process, which is aligned with the determination of the recoverable amount. The two - step approach works as follows: Allocation of s hareholders’ e quity using a solvency-based key first, until the current target of 12.5 % CET 1 ratio (CRR/CRD 4 calculated on a fully loaded basis) is met, and then, if applicable, incremental capital allocation to consider the leverage ratio requirements. The solvency-based allocation contains the assignment of goodwill (plus the add-on adjustment for noncontrolling interests) and unamortizing other intangible assets. Further, it comprises equity allocations based on the CGU’s relative share of risk-weighted assets, on capital deduction items as well as on regulatory reconciliation items. In the second step, if applicable, the CGUs receive equity allocations based on their pro-rata l everage ratio e xposure measure relative to the Group. Additionally, noncontrolling interests are considered in the carrying amounts of the respective primary CGUs. The AT1 Notes are allocated to the primary CGUs in proportion to their specific l everage r atio s hortfall, with leverage ratio shortfall being a function of the Group’s target l everage r atio, the CGU’s l everage r atio e xposure m easure and the allocated CET 1 capital. The carrying amount for nonintegrated investments is determined on the basis of their respective equity. Recoverable Amount As of January 1, 2016, the Group determined the recoverable amounts of its primary CGUs on the basis of value in use and employed 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 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 (with a Common Equity Tier 1 capital ratio of 12.5 % and a leverage ratio increasing to 5.0 % under CRR/CRD 4 fully loaded definitions) based on five-year financial plans agreed by management, 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 of up to 3.2 %. This is based on projected revenue forecasts of the CGUs as well as expectations for the development of gross domestic product and inflation, and is captured in the terminal value . The DCF value of a CGU is sensitive to the cash flow projections , to the discount rate (cost of equity) applied and to the long-term growth rate. The discount rates applied have been determined based on the capital asset pricing model and comprise a risk-free interest rate, a market risk premium and a factor covering the systematic market risk (beta factor). The values for the risk-free interest rate, the market risk premium and the beta factors are determined using external sources of information. CGU-specific beta factors are determined based on a respective group of peer companies. Variations in all of these components might impact the calculation of the discount rates. In order to test the resilience of the value in use, key assumptions used in the DCF model (for example, the discount rate and the earnings projections) are sensitized. Management believes that the only goodwill-carrying CGU , where reasonable possible changes in key assumptions could cause an impairment loss , is Wealth Management, for which the value in use exceeded the carrying amount by approximately 6 % or € [ 0.2 ] billion. An increase in the (post-tax) discount rate by approx imately 20 b asis p oint s, reduced projected future earnings in each period by approx imately 3 %, or a decreased long term growth rate of 2.2 % would cause the value in use of WM to equal its carrying amount. The recoverable amounts of all remaining, goodwill-carrying primary CGUs were substantially in excess of their respective carrying amounts. However, further changes 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 as well as a slowdown of GDP growth may negatively impact the performance forecasts of certain of the Group’s CGUs and, thus, could result in an impairment of goodwill in the future. |
Non-Current Assets and Disposal
Non-Current Assets and Disposal Groups Held for Sale | 3 Months Ended |
Jun. 30, 2018 | |
Components of Other Non-Current Assets and Disposal Groups Held for Sale [Abstract] | |
Disclosure of non-current assets or disposal groups classified as held for sale [text block] | Non-Current Assets and Disposal Groups Held for Sale Within the balance sheet, non-current assets and disposal groups held for sale are reported in Other assets and Other liabilities. This note provides further explanation on the nature and the financial impact of the non-current assets and disposal groups held for sale as of June 30, 2018 . Non-Current Assets and Disposal Groups Held for Sale at the Reporting Date Total assets held for sale amounted to € 2.6 billion as of June 30, 2018 (December 31, 2017: € 45 million ) and the disposal groups included liabilities of € 2.7 billion as of June 30, 2018 (December 31, 2017: € 16 million ). As of June 30, 2018, there were no unrealized net gains or losses (December 31, 2017: € 0 million ) relating to non-current assets and disposal groups classified as held for sale recognized directly in accumulated other comprehensive income (loss). Sale of Portuguese Private & Commercial Clients business On March 27, 2018, the Group announced that it has entered into an agreement to sell its local Private & Commercial Banking (PCB) business in Portugal to ABANCA Corporación Bancaria S.A. ( “ ABANCA ” ). Accordingly and at the end of the first quarter 2018, the business was classified as a disposal group held for sale. The valuation of the unit resulted in the recognition of a pre-tax loss of € (53) million which was recorded in other income ( € (40) million ) and general and administrative expense ( € (13) million ) of PCB in the first quarter 2018. With the transaction, Deutsche Bank continues to execute its strategy to sharpen its focus and reduce complexity. The transaction remains subject to regulatory approvals and other conditions. The parties are aiming to close the transaction in the first half of 2019. Disposal of Polish Private & Commercial Bank business Following the announcement made on December 14, 2017 that Deutsche Bank had entered into an agreement to sell its local Private & Commercial Banking business in Poland, together with DB Securities S.A., to Bank Zachodni WBK S.A. (“BZ WBK”), the Group obtained all material outstanding regulatory approvals on July 17, 2018 to proceed with the designated transaction. Accordingly, the respective business will be classified as a disposal group held for sale. The Group does not expect the held for sale classification to cause a significant impairment expense in the third quarter 2018. The retail mortgage portfolio denominated in foreign currency is excluded from the transaction . The sale is in line with the Group’s effort to continue to sharpen its focus and reduce complexity. BZ WBK is part of the Santander Group, with Banco Santander S.A. being its parent company. The transaction was subject to approvals of the Polish FSA, other regulatory approvals, corporate consents and other conditions. The parties are aiming for a finalization of the transaction in the second half of 2018. |
Other Assets and Other Liabilit
Other Assets and Other Liabilities | 3 Months Ended |
Jun. 30, 2018 | |
Other Assets and Other Liabilities [Abstract] | |
Disclosure of Other Assets amd Other Liabilities [text block] | Other Assets and Other Liabilities Other Assets in € m. Jun 30, 2018 Dec 31, 2017 Brokerage and securities related receivables Cash/margin receivables 48,476 46,519 Receivables from prime brokerage 1 1 12,638 Pending securities transactions past settlement date 3,388 3,929 Receivables from unsettled regular way trades 50,413 19,930 Total brokerage and securities related receivables 102,278 83,015 Debt Securities held to collect 6,245 N/A Accrued interest receivable 2,572 2,374 Assets held for sale 2,641 45 Other 16,926 16,057 Total other assets 130,663 101,491 Other Liabilities in € m. Jun 30, 2018 Dec 31, 2017 Brokerage and securities related payables Cash/margin payables 56,112 58,865 Payables from prime brokerage 21,548 25,042 Pending securities transactions past settlement date 2,054 2,562 Payables from unsettled regular way trades 45,380 20,274 Total brokerage and securities related payables 125,094 106,742 Accrued interest payable 2,257 2,623 Liabilities held for sale 2,691 16 Other 25,053 22,827 Total other liabilities 155,095 132,208 1 Receivables from prime brokerage are reported within non-trading assets mandatory at fair value through profit and loss from January 2018 onwards. |
Deposits
Deposits | 3 Months Ended |
Jun. 30, 2018 | |
Deposits [Abstract] | |
Disclosure of Deposits [text block] | Deposits in € m. Jun 30, 2018 Dec 31, 2017 Noninterest-bearing demand deposits 221,079 226,339 Interest-bearing deposits Demand deposits 121,251 133,280 Time deposits 129,331 133,952 Savings deposits 86,826 88,303 Total interest-bearing deposits 337,407 355,534 Total deposits 558,486 581,873 |
Provisions
Provisions | 3 Months Ended |
Jun. 30, 2018 | |
Provisions [Abstract] | |
Disclosure of provisions [text block] | Provisions Movements by Class of Provisions in € m. Operational Risk Civil Litigations Regulatory Enforcement Re- structuring Mortgage Repurchase Demands Other Total 1 Balance as of January 1, 2018 275 1,115 897 696 73 815 3,871 Changes in the group of 0 0 0 0 0 0 0 New provisions 12 137 129 149 0 709 1,136 Amounts used 38 392 287 180 0 690 1,587 Unused amounts reversed 27 91 139 67 10 108 442 Effects from exchange rate 3 15 24 0 2 (5 ) 39 Transfers 5 27 3 (3 ) 0 (14 ) 18 Balance as of June 30, 2018 230 812 627 595 66 706 3,036 1 For the remaining portion of provisions as disclosed on the consolidated balance sheet, please see Note “Allowance for Credit Losses”, in which allowances for credit related off-balance sheet positions are disclosed. Classes of Provisions Operational provisions arise out of operational risk and exclude civil litigation and regulatory enforcement provisions, which are presented as separate classes of provisions. Operational risk is the risk of loss resulting from inadequate or failed internal processes, people and systems, or from external events. The definition used for the purposes of determining operational provisions differs from the risk management definition, as it excludes risk of loss resulting from civil litigation and regulatory enforcement matters. For risk management purposes, operational risk includes legal risk, as payments to customers, counterparties and regulatory bodies in civil litigations or regulatory enforcement matters constitute loss events for operational shortcomings, but excludes business and reputational risk. Civil Litigation provisions arise out of current or potential claims or proceedings alleging non-compliance with contractual or other legal or regulatory responsibilities, which have resulted or may result in demands from customers, counterparties or other parties in civil litigations. Regulatory Enforcement provisions arise out of current or potential claims or proceedings alleging non-compliance with legal or regulatory responsibilities, which have resulted or may result in an assessment of fines or penalties by governmental regulatory agencies, self-regulatory organizations or other enforcement authorities. Restructuring provisions arise out of restructuring activities. The Group aims to enhance its long-term competitiveness through major reductions in costs, duplication and complexity in the yea rs ahead. For details see Note “Restructuring”. Mortgage Repurchase Demands provisions arise out of Deutsche Bank’s U.S. residential mortgage loan business. From 2005 through 2008, as part of Deutsche Bank’s U.S. residential mortgage loan business, Deutsche Bank sold approximately U.S.$ 84 billion of private label securities and U.S.$ 71 billion of loans through whole loan sales. Deutsche Bank has been presented with demands to repurchase loans from purchasers, investors and financial insurers based on alleged material breaches of representations and warranties or to indemnify such persons with respect to losses allegedly caused thereby. Deutsche Bank’s general practice is to process valid repurchase demands that are presented in compliance with contractual rights. As of June 30, 201 8 , Deutsche Bank has approximately U.S.$ 485 million of mortgage repurchase demands outstanding and not subject to agreements to rescind (based on original principal balance of the loans). These demands consist primarily of demands made in respect of private label securitizations by the trustees or servicers thereof. Against these outstanding demands, Deutsche Bank recorded provisions of U.S.$ 77 million ( € 66 million ) a s of June 30, 201 8 . Deutsche Bank is the beneficiary of indemnity agreements from the originators or sellers of certain of the mortgage loans subject to these demands, with respect to which Deutsche Bank has recognized receivables of U.S.$ 56 million ( € 48 million ) as of June 30 , 201 8 . The net provisions against these demands following deduction of such receivables were U.S.$ 24 million ( € 21 million ) as of June 30 , 201 8 . As of June 30 , 201 8 , Deutsche Bank has completed repurchases, obtained agreements to rescind, settled or rejected as untimely claims on loans with an original principal balance of approximately U.S.$ 9.2 billion . In connection with those repurchases, agreements and settlements, Deutsche Bank has obtained releases for potential claims on approximately U.S.$ 98.4 billion of loans sold by Deutsche Bank as described above. Additional mortgage repurchase demands may be made in respect of mortgage loans that Deutsche Bank has sold, but Deutsche Bank cannot reliably estimate their timing or amount. On June 11, 2015, the New York State Court of Appeals issued a ruling affirming dismissal of mortgage repurchase claims asserted in litigation relating to a residential mortgage-backed security issued by Deutsche Bank on the grounds that the action was not timely commenced. The court held that the repurchase claims, which alleged breaches of contractual representations and warranties pertaining to the loans at issue, accrued as of the closing date of the securitization and, thus, were time-barred under New York’s six-year statute of limitations. This and related decisions could impact the extent to which future repurchase demands are made to Deutsche Bank and the likelihood of success of any such claims. Deutsche Bank did not act as servicer for the loans sold to third parties as whole loans (which constitute almost half of all U.S. residential mortgage loans sold from 2005 through 2008) and, once sold, Deutsche Bank ceased to have access to information about their performance. While loan performance is publicly available on the mortgage loans that Deutsche Bank securitized, no direct correlation has been observed between their performance and repurchase demands received. Demands have been received on loans that have defaulted, as well as loans that are current and loans that have been repaid in full. Other provisions include several specific items arising from a variety of different circumstances, including the provision for the reimbursement of loan processing fees, deferred sales commissions and provisions for bank levies. Provisions and Contingent Liabilities The Group recognizes a provision for potential loss only when there is a present obligation arising from a past event that is probable to result in an economic outflow that can be reliably estimated. Where a reliable estimate cannot be made for such an obligation, no provision is recognized and the obligation is deemed a contingent liability. Contingent liabilities also include possible obligations for which the possibility of future economic outflow is more than remote but less than probable. Where a provision has been taken for a particular claim, no contingent liability is recorded; for matters or sets of matters consisting of more than one claim, however, provisions may be recorded for some claims, and contingent liabilities (or neither a provision nor a contingent liability) may be recorded for others. The Group operates in a legal and regulatory environment that exposes it to significant litigation risks. As a result, the Group is involved in litigation, arbitration and regulatory proceedings and investigations in Germany and in a number of jurisdictions outside Germany, including the United States. In recent years , regulation and supervision in a number of areas have increased, and regulators, governmental bodies and others have sought to subject financial services providers to increasing oversight and scrutiny, which in turn has led to additional regulatory investigations and enforcement actions which are often followed by civil litigation. This trend has accelerated markedly as a result of the global financial crisis. In determining for which of the claims the possibility of a loss is probable, or less than probable but more than remote, and then estimating the possible loss for those claims, the Group takes into consideration a number of factors, including but not limited to the nature of the claim and its underlying facts, the procedural posture and litigation history of each case, rulings by the courts or tribunals, the Group’s experience and the experience of others in similar cases (to the extent this is known to the Group), prior settlement discussions, settlements by others in similar cases (to the extent this is known to the Group), available indemnities and the opinions and views of legal counsel and other experts. The provisions the Group has recognized for civil litigation and regulatory enforcement matters as of June 30 , 201 8 and January 1 , 201 8 are set forth in the table above. For some matters for which the Group believes an outflow of funds is probable, no provisions were recognized as the Group could not reliably estimate the amount of the potential outflow. For the matters for which a reliable estimate can be made, the Group currently estimates that, as of June 30 , 201 8 , the aggregate future loss of which the possibility is more than remote but less than probable is approximately € 2.1 billion for civil litigation matters (December 31, 201 7 : € 2.4 billion ) and € 0.2 billion for regulatory enforc ement matters (December 31, 2017 : € 0.3 billion ). These figures include matters where the Group’s potential liability is joint and several and where the Group expects any such liability to be paid by a third party. For other significant civil litigation and regulatory enforcement matters, the Group believes the possibility of an outflow of funds is more than remote but less than probable but the amount is not reliably estimable, and accordingly such matters are not included in the contingent liability estimates. For still other significant civil litigation and regulatory enforcement matters, the Group believes the possibility of an outflow of funds is remote and therefore has neither recognized a provision nor included them in the contingent liability estimates. This estimated possible loss, as well as any provisions taken, is based upon currently available information and is subject to significant judgment and a variety of assumptions, variables and known and unknown uncertainties. These uncertainties may include inaccuracies in or incompleteness of the information available to the Group, particularly at the preliminary stages of matters, and assumptions by the Group as to future rulings of courts or other tribunals or the likely actions or positions taken by regulators or adversaries may prove incorrect. Moreover, estimates of possible loss for these matters are often not amenable to the use of statistical or other quantitative analytical tools frequently used in making judgments and estimates, and are subject to even greater degrees of uncertainty than in many other areas where the Group must exercise judgment and make estimates. The estimated possible loss, as well as any provisions taken, can be and often are substantially less than the amount initially requested by regulators or adversaries or the maximum potential loss that could be incurred were the matters to result in a final adjudication adverse to the Group. Moreover, in several regions in which the Group operates, an adversary often is not required to set forth the amount it is seeking, and where it is, the amount may not be subject to the same requirements that generally apply to pleading factual allegations or legal claims. The matters for which the Group determines that the possibility of a future loss is more than remote will change from time to time, as will the matters as to which a reliable estimate can be made and the estimated possible loss for such matters. Actual results may prove to be significantly higher or lower than the estimate of possible loss in those matters where such an estimate was made. In addition, loss may be incurred in matters with respect to which the Group believed the likelihood of loss was remote. In particular, the estimated aggregate possible loss does not represent the Group’s potential maximum loss exposure for those matters. The Group may settle litigation or regulatory proceedings or investigations prior to a final judgment or determination of liability. It may do so to avoid the cost, management efforts or negative business, regulatory or reputational consequences of continuing to contest liability, even when the Group believes it has valid defenses to liability. It may also do so when the potential consequences of failing to prevail would be disproportionate to the costs of settlement. Furthermore, the Group may, for similar reasons, reimburse counterparties for their losses even in situations where it does not believe that it is legally compelled to do so. Current Individual Proceedings Set forth below are descriptions of civil litigation and regulatory enforcement matters or groups of matters for which the Group has taken material provisions, or for which there are material contingent liabilities that are more than remote, or for which there is the possibility of material business or reputational risk; similar matters are grouped together and some matters consist of a number of proceedings or claims. The disclosed matters include matters for which the possibility of a loss is more than remote but for which the Group cannot reliably estimate the possible loss. Esch Funds Litigation. Sal. Oppenheim jr. & Cie. AG & Co. KGaA (“Sal. Oppenheim”) was prior to its acquisition by Deutsche Bank in 2010 involved in the marketing and financing of participations in closed end real estate funds. These funds were structured as Civil Law Partnerships under German law. Usually, Josef Esch Fonds-Projekt GmbH performed the planning and project development. Sal. Oppenheim held an indirect interest in this company via a joint-venture. In relation to this business a number of civil claims have been filed against Sal. Oppenheim. Some but not all of these claims are also directed against former managing partners of Sal. Oppenheim and other individuals. The claims brought against Sal. Oppenheim relate to investments of originally approximately € 1.1 billion . After certain claims have either been dismissed or settled, claims relating to investments of originally approximately € 80 million are still pending. Currently, the aggregate amounts claimed in the pending pr oceedings are approximately € 120 million . The investors are seeking to unwind their fund participation and to be indemnified against potential losses and debt related to the investment. The claims are based in part on an alleged failure of Sal. Oppenheim to provide adequate information on related risks and other material aspects important for the investors’ investment decision. Based on the facts of the individual cases, some courts have decided in favor and some against Sal. Oppenheim. Appeals are pending. The Group has recorded provisions and contingent liabilities with respect to these cases but has not disclosed the amounts thereof because it has concluded that such disclosure can be expected to prejudice seriously their outcome. FX Investigations and Litigations. Deutsche Bank has received requests for information from certain regulatory and law enforcement agencies globally who investigat ed trading in, and various other aspects of, the foreign exchange market. Deutsche Bank cooperat ed with these investigations. Relatedly, Deutsche Bank has conducted its own internal global review of foreign exchange trading and other aspects of its foreign exchange business. On October 19, 2016, the 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, which remain pending. On December 7, 2016, it was announced that Deutsche Bank reached an agreement with CADE, the Brazilian antitrust enforcement agency, to settle an investigation into conduct by a former Brazil-based Deutsche Bank trader. As part of that settlement, Deutsche Bank paid a fine of BRL 51 million and agreed to continue to comply with the CADE’s administrative process until it is concluded. This resolves CADE’s administrative process as it relates to Deutsche Bank, subject to Deutsche Bank’s continued compliance with the settlement terms. On February 13, 2017, the 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, which remain pending. On April 20, 2017, it was announced that Deutsche Bank AG, DB USA Corporation and Deutsche Bank AG New York Branch reached an agreement with the Board of Governors of the Federal Reserve System to settle an investigation into Deutsche Bank’s foreign exchange trading and practices. Under the terms of the settlement, Deutsche Bank entered into a cease-and-desist order, and agreed to pay a civil monetary penalty of U.S.$ 137 million . In addition, the Federal Reserve ordered Deutsche Bank to “continue to implement additional improvements in its oversight, internal controls, compliance, risk management and audit programs” for its foreign exchange business and other similar products, and to periodically report to the Federal Reserve on its progress. On June 20, 2018, it was announced that Deutsche Bank AG and Deutsche Bank AG New York Branch reached an agreement with the New York State Department of Financial Services (DFS) to settle an investigation into Deutsche Bank’s foreign exchange trading and sales practices. Under the terms of the settlement, Deutsche Bank entered into a consent order, and agreed to pay a civil monetary penalty of U.S.$ 205 million . In addition, the DFS ordered Deutsche Bank to continue to implement improvements in its oversight, internal controls, compliance, risk management and audit programs for its foreign exchange business, and to periodically report to the DFS on its progress. Investigations conducted by certain other regulatory agencies are ongoing, and Deutsche Bank has cooperat ed with these investigations. Additionally, there are currently four U.S. putative class actions pending against Deutsche Bank. The first pending action is a consolidated action brought on behalf of a putative class of over-the-counter traders and a putative class of central-exchange traders, who are domiciled in or traded in the United States or its territories, and alleges illegal agreements to restrain competition with respect to and to manipulate both benchmark rates and spot rates, particularly the spreads quoted on those spot rates; the complaint further alleges that those supposed conspiracies, in turn, resulted in artificial prices on centralized exchanges for foreign exchange futures and options. On September 29, 2017, plaintiffs filed a motion seeking preliminary approval of a settlement with Deutsche Bank in the amount of U.S.$ 190 million , which the court preliminarily approved on the same day. A final fairness hearing for all settlements in this action, including Deutsche Bank’s, occurred on M ay 23, 2018. A second action tracks the allegations in the consolidated action and asserts that such purported conduct gave rise to, and resulted in a breach of, defendants’ fiduciary duties under the U.S. Employment Retirement Income Security Act of 1974. On August 24, 2016, the court granted defendants’ motion to dismiss. On July 10, 2018, the U.S. Court of Appeals for the Second Circuit affirmed the district court’s dismissal of the action . The third putative class action was filed in the same court on December 21, 2015, by Axiom Investment Advisors, LLC alleging that Deutsche Bank rejected FX orders placed over electronic trading platforms through the application of a function referred to as “Last Look” and that these orders were later filled at prices less favorable to putative class members. Plaintiff s ha ve asserted claims for breach of contract, quasi-contractual claims, and claims under New York statutory law. On February 13, 2017, Deutsche Bank’s motion to dismiss was granted in part and denied in part. Plaintiffs filed a motion for class certification on January 15, 2018, which Deutsche Bank has opposed. This matter remains pending. The fourth putative class action (the “Indirect Purchasers” action), which was filed on September 26, 2016, amended on March 24, 2017, and later consolidated with a similar action that was filed on April 28, 2017, tracks the allegations in the consolidated action and asserts that such purported conduct injured “indirect purchasers” of FX instruments. These claims are brought pursuant to the Sherman Act and various states’ consumer protection statutes. On March 15, 2018, the court granted Deutsche Bank’s motion to dismiss this action. Plaintiffs filed a motion to replead and proposed a t hird a mended c omplaint on April 5, 2018 , which Deutsche Bank has opposed . Discovery has not yet commenced in the Indirect Purchasers action. 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. The Group has not disclosed whether it has established a provision or contingent liability with respect to these matters because it has concluded that such disclosure can be expected to prejudice seriously their outcome. Interbank and Dealer Offered Rates Matters. Regulatory and Law Enforcement Matters. Deutsche Bank has received requests for information from various regulatory and law enforcement agencies, in connection with industry-wide investigations concerning the setting of the London Interbank Offered Rate (LIBOR), Euro Interbank Offered Rate (EURIBOR), Tokyo Interbank Offered Rate (TIBOR) and other interbank and/or dealer offered rates. Deutsche Bank is cooperating with these investigations. As previously reported, Deutsche Bank paid € 725 million to the European Commission pursuant to a settlement agreement dated December 4, 2013 in relation to anticompetitive conduct in the trading of interest rate derivatives . Also as previously reported, on April 23, 2015, Deutsche Bank entered into separate settlements with the DOJ, the CFTC, the UK Financial Conduct Authority (FCA), and the New York State Department of Financial Services (DFS) to resolve investigations into misconduct concerning the setting of LIBOR, EURIBOR, and TIBOR. Under the terms of these agreements, Deutsche Bank agreed to pay penalties of U.S.$ 2.175 billion to the DOJ, CFTC and DFS and GBP 226.8 million to the FCA. As part of the resolution with the DOJ, DB Group Services (UK) Ltd. (an indirectly-held, wholly-owned subsidiary of Deutsche Bank) pled guilty to one count of wire fraud in the U.S. District Court for the District of Connecticut and Deutsche Bank entered into a Deferred Prosecution Agreement with a three year term pursuant to which it agreed (among other things) to the filing of an Information in the U.S. District Court for the District of Connecticut charging Deutsche Bank with one count of wire fraud and one count of price fixing in violation of the Sherman Act. On April 23, 2018, the Deferred Prosecution Agreement expired, and the U.S. District Court for the District of Connecticut subsequently dismissed the criminal I nformation against Deutsche Bank. The fines referred to above, which include a U.S.$ 150 million fine paid in April 2017 following the March 28, 2017 sentencing of DB Group Services (UK) Ltd., have been paid in full and do not form part of the Bank’s provisions. As previously reported, on March 20, 2017, Deutsche Bank paid CHF 5.4 million to the Swiss Competition Commission (WEKO) pursuant to a settlement agreement in relation to Yen LIBOR. On October 25, 2017, Deutsche Bank entered into a settlement with a working group of U.S. state attorneys general resolving their interbank offered rate investigation. Among other conditions, Deutsche Bank agreed to make a settlement payment of U.S.$ 220 million . The settlement amount has been paid in full and does not form part of the Bank’s provisions. Other investigations of Deutsche Bank concerning the setting of various interbank and/or dealer offered rates remain ongoing, and Deutsche Bank remains exposed to further action. The Group has not disclosed whether it has established a provision or contingent liability with respect to the remaining investigations because it has concluded that such disclosure can be expected to prejudice seriously their outcome. Overview of Civil Litigations. Deutsche Bank is party to 44 U.S. civil actions concerning alleged manipulation relating to the setting of various interbank and/or dealer offered rates which are described in the following paragraphs, as well as single actions pending in each of the UK, Israel and Argentina. Most of the civil actions, including putative class actions, are pending in the U.S. District Court for the Southern District of New York (SDNY), against Deutsche Bank and numerous other defendants. All but four of the U.S. civil actions were filed on behalf of parties who allege losses as a result of manipulation relating to the setting of U.S. dollar LIBOR. The four civil actions pending against Deutsche Bank that do not relate to U.S. dollar LIBOR are also pending in the SDNY, and include one consolidated action concerning Pound Sterling (GBP) LIBOR, one action concerning Swiss franc (CHF) LIBOR, one action concerning two Singapore Dollar (SGD) benchmark rates, the Singapore Interbank Offered Rate (SIBOR) and the Swap Offer Rate (SOR), and one action concerning the Canadian Dealer Offered Rate (CDOR). Claims for damages for all 44 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. With one exception, all of the U.S. civil actions concerning U.S. dollar LIBOR are being coordinated as part of a multidistrict litigation (the “U.S. dollar LIBOR MDL”) in the SDNY. In light of the large number of individual cases pending against Deutsche Bank and their similarity, the civil actions included in the U.S. dollar LIBOR MDL are now subsumed under the following general description of the litigation pertaining to all such actions, without disclosure of individual actions except when the circumstances or the resolution of an individual case is material to Deutsche Bank. Following a series of decisions in the U.S. dollar LIBOR MDL between March 2013 and December 2016 narrowing their claims, plaintiffs are currently asserting antitrust claims, claims under the U.S. Commodity Exchange Act and state law fraud, contract, unjust enrichment and other tort claims. The court has also issued decisions dismissing certain plaintiffs’ claims for lack of personal jurisdiction and on statute of limitations grounds. On December 20, 2016, the district court issued a ruling dismissing certain antitrust claims while allowing others to proceed. Multiple plaintiffs have filed appeals of the district court’s December 20, 2016 ruling to the U.S. Court of Appeals for the Second Circuit, and those appeals are proceeding in parallel with the ongoing proceedings in the district court. Briefing of the appeals is complete. On July 13, 2017, Deutsche Bank executed a settlement agreement in the amount of U.S.$ 80 million with plaintiffs to resolve a putative class action pending as part of the U.S. dollar LIBOR MDL asserting claims based on alleged transactions in Eurodollar futures and options traded on the Chicago Mercantile Exchange ( Metzler Investment GmbH v. Credit Suisse Group AG ). The settlement agreement was submitted to the court for preliminary approval on October 11, 2017. The settlement amount is already fully reflected in existing litigation provisions and no additional provisions have been taken for this settlement. The settlement agreement is subject to further review and approval by the court. On February 6, 2018, Deutsche Bank executed a settlement agreement in the amount of U.S.$ 240 million with plaintiffs to resolve a putative class action pending as part of the U.S. dollar LIBOR MDL asserting claims based on alleged transactions in U.S. dollar LIBOR-linked financial instruments purchased over the counter directly from LIBOR panel banks ( Mayor & City Council of Baltimore v. Credit Suisse AG ). The settlement agreement was submitted to the court for preliminary approval on February 27, 2018, which the court granted on April 5, 2018. The settlement agreement is subject to further review and approval by the court, and a final approval hearing is scheduled for October 25, 2018. Under the terms of the settlement, Deutsche Bank has paid U.S.$ 240 million, and is no longer reflecting that amount in its litigation provisions. Plaintiff in the non-MDL case proceeding in the SDNY moved to amend its complaint following a dismissal of its claims. On March 20, 2018, the court denied plaintiff’s motion for leave to amend and entered judgment in the action, closing the case. On April 16, 2018, plaintiff filed a notice of appeal to the U.S. Court of Appeals for the Second Circuit. There is a further UK civil action regarding U.S. dollar LIBOR brought by the U.S. Federal Deposit Insurance Corporation, in which a claim for damages has been asserted pursuant to Article 101 of The Treaty on the Functioning of the European Union, Section 2 of Chapter 1 of the UK Competition Act 1998 and U.S. state laws. Deutsche Bank is defending this action. A further class action regarding LIBOR, EURIBOR and TIBOR has recently been filed in Israel. Yen LIBOR and Euroyen TIBOR. On July 21, 2017, Deutsche Bank executed a settlement agreement in the amount of U.S.$ 77 million with plaintiffs to resolve two putative class actions pending in the SDNY alleging manipulation of Yen LIBOR and Euroyen TIBOR ( Laydon v. Mizuho Bank, Ltd. and Sonterra Capital Master Fund Ltd. v. UBS AG ). The agreement was submitted to the court for approval, and the court granted final approval of the settlement on December 7, 2017. Accordingly, these two actions are not included in the total number of actions above. The settlement amount, which Deutsche Bank paid on August 1, 2017, is no longer reflected in Deutsche Bank’s litigation provisions. EURIBOR. On May 10, 2017, Deutsche Bank executed a settlement agreement in the amount of U.S.$ 170 million with plaintiffs to resolve a putative class action pending in the SDNY alleging manipulation of EURIBOR ( Sullivan v. Barclays PLC ). The agreement was submitted to the court for approval, and the court granted final approval of the settlement on May 18, 2018. Accordingly, the action is not included in the total number of actions above. The settlement amount, which Deutsche Bank has paid, is no longer reflected in Deutsche Bank’s litigation provisions. GBP LIBOR. A putative class action alleging manipulation of the Pound Sterling (GBP) LIBOR remains pending in the SDNY. It is the subject of a fully briefed motion to dismiss. CHF LIBOR. A putative class action alleging manipulation of the Swiss Franc (CHF) LIBOR remains pending in the SDNY. It is the subject of fully briefed motions to dismiss. SIBOR and SOR. A putative class action alleging manipulation of the Singapore Interbank Offered Rate (SIBOR) a |
Credit related Commitments and
Credit related Commitments and Contingent Liabilities | 3 Months Ended |
Jun. 30, 2018 | |
Credit related Commitments and Contingent Liabilities [Abstract] | |
Disclosure of commitments and contingent liabilities [text block] | Other Financial Information (unaudited) Credit related Commitments and Contingent Liabilities L ending 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. In the normal course of business the Group also regularly enters into revocable lending commitments . For these instruments it is not known to the Group in detail if, when and to what extent claims will be made. However, as they are revocable they can be cancelled at any point of time. The following table shows the Group’s revocable lending commitments , irrevocable lending commitments and lending related contingent liabilities without considering collateral or provisions. It shows the maximum potential utilization of the Group in case all these liabilities entered into must be fulfilled. The table therefore does not show the expected future cash flows from these liabilities as many of them will expire without being drawn and arising claims will be honored by the customers or can be recovered from proceeds of arranged collateral. in € m. Jun 30, 2018 Dec 31, 2017 Irrevocable lending commitments 166,934 158,253 Revocable lending commitments 44,459 45,867 Contingent liabilities 47,762 48,212 Total 259,155 252,331 Other commitments and other contingent liabilities The following table shows the Group’s other irrevocable commitments and other contingent liabilities without considering collateral or provisions. It shows the maximum potential utilization of the Group in case all these liabilities entered into must be fulfilled. The table therefore does not show the expected future cash flows from these liabilities as many of them will expire without being drawn and arising claims will be honored by the customers or can be recovered from proceeds of arranged collateral. in € m. Jun 30, 2018 Dec 31, 2017 Other commitments 98 82 Other contingent liabilities 2 5 Total 101 86 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 statutory deposit protection amounted to € 501 million as of June 30, 2018 and to € 412 million as of December 31, 2017. |
Related Party Transactions
Related Party Transactions | 3 Months Ended |
Jun. 30, 2018 | |
Related Party Transactions [Abstract] | |
Disclosure of related party [text block] | Related Party Transactions Parties are considered to be related if one party has the ability to directly or indirectly control the other party or exercise significant influence over the other party in making financial or operational decisions. The Group’s related parties include : key management personnel, close family members of key management personnel and entities which are controlled, significantly influenced by, or for which significant voting power is held by key management personnel or their close family members, subsidiaries, joint ventures and associates and their respective subsidiaries, and post-employment benefit plans for the benefit of Deutsche Bank employees. Transactions with Key Management Personnel Key management personnel are those persons having authority and responsibility for planning, directing and controlling the activities of Deutsche Bank Group, directly or indirectly. The Group considers the members of the Management Board as currently mandated and the Supervisory Board of the parent company to constitute key management personnel for purposes of IAS 24. Among the Group’s transactions with key management personnel as of June 30, 201 8 , were loans and commitments of € 46 million and deposits of € 54 million . As of December 31, 201 7 , there were loans and commitments of € 48 million and deposits of € 123 million among the Group’s transactions with key management personnel. In addition, the Group provides banking services, such as payment and account services as well as investment advice, to key management personnel and their close family members. Transactions with Subsidiaries, Associates and Joint Ventures Transactions between Deutsche Bank AG and its subsidiaries meet the definition of related party transactions. If these transactions are eliminated on consolidation, they are not disclosed as related party transactions. Transactions between the Group and its associated companies and joint ventures and their respective subsidiaries also qualify as related party transactions. Transactions for subsidiaries, joint ventures and associates are presented combined in below table as these are not material individually. Loans issued and guarantees granted in € m. Jun 30, 2018 Dec 31, 2017 Loans outstanding, beginning of period 256 297 Movement in loans during the period1 (12 ) (26 ) Changes in the group of consolidated companies 0 (1 ) Exchange rate changes/other (4 ) (15 ) Loans outstanding, end of period2 240 256 Other credit risk related transactions: Allowance for loan losses 0 0 Provision for loan losses 0 0 Guarantees and commitments 4 9 1 Net impact of loans issued and loans repayment during the year is shown as “Movement in loans during the period”. 2 There were no past due loans as of June 30, 2018 and December 31, 201 7 . For the above loans, the Group held collateral of € 14 million and € 14 million as of June 30, 2018 and December 31, 2017, respectively. Deposits received in € m. Jun 30, 2018 Dec 31, 2017 Deposits, beginning of period 67 87 Movement in deposits during the period 1 (11 ) (15 ) Changes in the group of consolidated companies 0 0 Exchange rate changes/other 0 (4 ) Deposits, end of period 55 67 1 N et impact of deposits received and deposits repaid during the year is shown as “Movement in deposits during the period”. Other Transactions Trading assets and positive market values from derivative financial transactions with associated companies amounted to € 3 million as of June 30, 2018, and € 6 million as of December 31, 2017. Trading liabilities and negative market values from derivative financial transactions with associated companies were € 0 million as of June 30, 2018, and € 0 million as of December 31, 2017 . Other transactions with related parties also reflected the following: TradeWeb Markets: In the first quarter 201 8 , the Group ceased to have significant influence over its equity method investment in TradeWeb Markets LLC and recognized a remeasurement gain of € 84 million equal to the difference between the fair value and the car rying amount of the investment. Transactions with Pension Plans 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. Pension funds may hold or trade Deutsche Bank AG shares or securities. As of June 30, 201 8 , transactions with these plans were not material for the Group. |
Events after the Reporting Peri
Events after the Reporting Period | 3 Months Ended |
Jun. 30, 2018 | |
Events after the Reporting Period [Abstract] | |
Disclosure of events after reporting period [text block] | Events after the Reporting Period Mortality assumptions for the Defined Benefit Obligation (DBO) accrued for defined benefit post-employment plans for employees in Germany have been derived using Heubeck tables in the version of 2005G. The defined benefit obligation related to Germany as of December 31, 2017 was about € 12,090 million . On July 20, 2018 Heubeck AG published updated mortality tables. These tables include new mortality rates which form a significant input factor into the calculation of the bank’s defined benefit obligations under post-employment employee benefit plans. It has yet to be determined if and how the mortality tables published on July 20 2018 are generally applicable. Heubeck AG has expressed together with the publication of the mortality tables an expected range for the increase of DBO by 1.5 % to 2.5 % . Should the new mortality tables be generally accepted we will have to determine for our company if these accurately reflect the mortality probabilities in the calculation of our pension obligation. A potential increase of the defined benefit obligation caused by updated mortality rates would reduce Other Comprehensive Income reflecting actuarial losses. The amount of changes of DBO as of year-end 2018 will also be affected by regular updates to other parameters such as discount rate, salary developments and other input factors. |
Management Report - Segment Res
Management Report - Segment Results of Operations | 3 Months Ended |
Jun. 30, 2018 | |
Segment Results of Operations [Abstract] | |
Disclosure of Segment Results of Operations [text block] | Segment Results of Operations The following tables present the results of the business segments, including the reconciliation to the consolidated results under IFRS, for the three and six months ended June 30, 201 8 and June 30, 201 7 . See the “Segment Information” note to the consolidated financial statements for information regarding changes in the presentation of our segment disclosure. Three months ended Jun 30, 2018 in € m. Corporate & Investment Bank Private & Commercial Bank Asset Management Corporate & Other Total Consolidated Net revenues 3,579 2,542 561 (91 ) 6,590 Provision for credit losses 11 86 (1 ) (2 ) 95 Noninterest expenses: Compensation and benefits 1,059 1,000 194 798 3,050 General and administrative expenses 1,848 1,184 240 (721 ) 2,552 Impairment of goodwill and other intangible assets 0 0 0 0 0 Restructuring activities 165 11 7 (0 ) 182 Total noninterest expenses 3,071 2,194 441 77 5,784 Noncontrolling interests 21 0 26 (48 ) 0 Income (loss) before income taxes 475 262 93 (119 ) 711 Cost/income ratio (in %) 86% 86% 79% 0% 88% Assets 1,076,696 337,744 9,937 N/M 1,420,960 Risk-weighted assets (CRD 4 - fully loaded) 235,060 88,031 9,498 15,730 348,319 CRD 4 leverage exposure 963,038 348,542 4,767 7,816 1,324,163 Average shareholders’ equity 43,600 14,041 4,595 0 62,236 Average tangible shareholders' equity 40,603 11,991 1,492 0 54,086 Post-tax return on average tangible shareholders’ equity (in %) 1 3.40% 6.30% 18.00% N/M 2.70% Post-tax return on average shareholders’ equity (in %) 1 3.10% 5.40% 5.90% N/M 2.30% N/M – Not meaningful 1 The post-tax return on average tangible shareholders’ equity and average shareholders’ equity at the Group level reflects the reported effective tax rate for the Group, which was 44 %. For the post-tax return on average tangible shareholders’ equity and average shareholders’ equity of the segments, the applied tax rate was 28 % . Three months ended Jun 30, 2017 in € m. Corporate & Investment Bank Private & Commercial Bank Asset Management Corporate & Other Total Consolidated Net revenues 3,618 2,559 676 (237 ) 6,616 Provision for credit losses 56 22 (0 ) 1 79 Noninterest expenses: Compensation and benefits 973 989 202 757 2,921 General and administrative expenses 1,887 1,214 234 (611 ) 2,724 Impairment of goodwill and other intangible assets 6 0 0 0 6 Restructuring activities 66 (4 ) 2 (0 ) 64 Total noninterest expenses 2,933 2,199 438 145 5,715 Noncontrolling interests 19 (1 ) 1 (19 ) 0 Income (loss) before income taxes 611 338 238 (364 ) 822 Cost/income ratio (in %) 81% 86% 65% 0% 86% Assets 1,210,220 332,531 11,509 14,473 1,568,734 Risk-weighted assets (CRD 4 - fully loaded) 241,915 88,534 9,018 15,221 354,688 CRD 4 leverage exposure 1,078,567 345,998 3,268 14,610 1,442,443 Average shareholders’ equity 44,991 15,323 4,698 0 65,013 Average tangible shareholders' equity 41,962 13,196 924 0 56,082 Post-tax return on average tangible shareholders’ equity (in %) 1 3.90% 6.90% 68.9% N/M 3.20% Post-tax return on average shareholders’ equity (in %) 1 3.60% 5.90% 13.50% N/M 2.70% N/M – Not meaningful 1 The post-tax return on average tangible shareholders’ equity and average shareholders’ equity at the Group level reflects the reported effective tax rate for the Group, which was 43 %. For the post-tax return on average tangible shareholders’ equity and average shareholders’ equity of the segments, the applied tax rate was 33 % . Six months ended Jun 30, 2018 in € m. Corporate & Investment Bank Private & Commercial Bank Asset Management Corporate & Other Total Consolidated Net revenues 7,424 5,182 1,106 (145 ) 13,567 Provision for credit losses 8 174 (0 ) 0 183 Noninterest expenses: Compensation and benefits 2,121 1,977 388 1,566 6,052 General and administrative expenses 4,415 2,450 517 (1,375 ) 6,008 Impairment of goodwill and other intangible assets 0 0 0 0 0 Restructuring activities 178 (7 ) 9 (0 ) 181 Total noninterest expenses 6,715 4,421 914 191 12,241 Noncontrolling interests 24 0 26 (51 ) 0 Income (loss) before income taxes 678 586 165 (286 ) 1,143 Cost/income ratio (in %) 90% 85% 83% 0% 90% Assets 1,076,696 337,744 9,937 N/M 1,420,960 Risk-weighted assets (CRD 4 - fully loaded) 235,060 88,031 9,498 15,730 348,319 CRD 4 leverage exposure 963,038 348,542 4,767 7,816 1,324,163 Average shareholders’ equity 43,650 14,248 4,606 0 62,504 Average tangible shareholders' equity 40,665 12,151 1,258 0 54,074 Post-tax return on average tangible shareholders’ equity (in %) 1 2.40% 7.00% 18.90% N/M 1.80% Post-tax return on average shareholders’ equity (in %) 1 2.20% 5.90% 5.20% N/M 1.50% N/M – Not meaningful 1 The post-tax return on average tangible shareholders’ equity and average shareholders’ equity at the Group level reflects the reported effective tax rate for the Group, which was 54 %. For the post-tax return on average tangible shareholders’ equity and average shareholders’ equity of the segments, the applied tax rate was 28 % . Six months ended Jun 30, 2017 in € m. Corporate & Investment Bank Private & Commercial Bank Asset Management Corporate & Other Total Consolidated Net revenues 8,026 5,263 1,283 (610 ) 13,962 Provision for credit losses 113 100 (0 ) (0 ) 212 Noninterest expenses: Compensation and benefits 2,109 1,994 400 1,565 6,068 General and administrative expenses 4,289 2,454 455 (1,274 ) 5,924 Impairment of goodwill and other intangible assets 6 0 0 0 6 Restructuring activities 99 (52 ) 4 (0 ) 50 Total noninterest expenses 6,502 4,396 860 291 12,049 Noncontrolling interests 23 (1 ) 1 (23 ) 0 Income (loss) before income taxes 1,388 768 422 (878 ) 1,701 Cost/income ratio (in %) 81% 84% 67% 0% 86% Assets 1,210,220 332,531 11,509 14,473 1,568,734 Risk-weighted assets (CRD 4 - fully loaded) 241,915 88,534 9,018 15,221 354,688 CRD 4 leverage exposure 1,078,567 345,998 3,268 14,610 1,442,443 Average shareholders’ equity 42,979 14,915 4,695 184 62,773 Average tangible shareholders' equity 40,005 12,873 768 182 53,828 Post-tax return on average tangible shareholders’ equity (in %) 1 4.70% 8.00% 73.70% N/M 3.80% Post-tax return on average shareholders’ equity (in %) 1 4.30% 6.90% 12.10% N/M 3.20% N/M – Not meaningful 1 The post-tax return on average tangible shareholders’ equity and average shareholders’ equity at the Group level reflects the reported effective tax rate for the Group, which was 39 %. For the post-tax return on average tangible shareholders’ equity and average shareholders’ equity of the segments, the applied tax rate was 33 % . Corporate Divisions Corporate & Investment Bank (CIB) Three months ended Six months ended in € m. Jun 30, 2018 Jun 30, 2017 Absolute Change Change in % Jun 30, 2018 Jun 30, 2017 Absolute Change Change in % Net revenues: Global Transaction Banking 1,008 967 41 4 1,926 2,009 (83 ) (4 ) Equity Origination 108 115 (7 ) (6 ) 183 268 (84 ) (32 ) Debt Origination 316 311 5 2 633 702 (70 ) (10 ) Advisory 153 137 16 12 241 250 (9 ) (4 ) Origination and Advisory 577 563 14 2 1,057 1,220 (163 ) (13 ) Sales & Trading (Equity) 540 577 (37 ) (6 ) 1,111 1,311 (199 ) (15 ) Sales & Trading (FIC) 1,372 1,646 (274 ) (17 ) 3,255 3,870 (615 ) (16 ) Sales & Trading 1,912 2,224 (311 ) (14 ) 4,366 5,180 (814 ) (16 ) Other 81 (136 ) 217 N/M 76 (383 ) 459 N/M Total net revenues 3,579 3,618 (39 ) (1 ) 7,424 8,026 (602 ) (7 ) Provision for credit losses 11 56 (45 ) (80 ) 8 113 (105 ) (93 ) Noninterest expenses: Compensation and benefits 1,059 973 86 9 2,121 2,109 12 1 General and administrative expenses 1,848 1,887 (39 ) (2 ) 4,415 4,289 127 3 Impairment of goodwill and other intangible assets 0 6 (6 ) N/M 0 6 (6 ) N/M Restructuring activities 165 66 98 148 178 99 79 80 Total noninterest expenses 3,071 2,933 139 5 6,715 6,502 212 3 Noncontrolling interests 21 19 3 14 24 23 2 7 Income (loss) before income taxes 475 611 (136 ) (22 ) 678 1,388 (711 ) (51 ) N/M – Not meaningful Private & Commercial Bank (PCB) Three months ended Six months ended in € m. Jun 30, 2018 Jun 30, 2017 Absolute Change Change in % Jun 30, 2018 Jun 30, 2017 Absolute Change Change in % Net revenues: Private and Commercial Business (Germany) 1,635 1,573 61 4 3,471 3,209 262 8 Private and Commercial Business (International) 1 376 395 (19 ) (5 ) 749 767 (18 ) (2 ) Wealth Management (Global) 470 523 (53 ) (10 ) 896 1,139 (243 ) (21 ) Exited businesses 2 62 67 (6 ) (8 ) 66 148 (82 ) (55 ) Total net revenues 2,542 2,559 (16 ) (1 ) 5,182 5,263 (81 ) (2 ) thereof: Net interest income 1,516 1,536 (20 ) (1 ) 3,001 2,924 77 3 Commissions and fee income 793 852 (58 ) (7 ) 1,661 1,775 (114 ) (6 ) Remaining income 233 171 62 36 520 563 (44 ) (8 ) Provision for credit losses 86 22 64 N/M 174 100 74 74 Noninterest expenses: Compensation and benefits 1,000 989 11 1 1,977 1,994 (17 ) (1 ) General and administrative expenses 1,184 1,214 (30 ) (2 ) 2,450 2,454 (4 ) 0 Impairment of goodwill and other intangible assets 0 0 0 N/M 0 0 0 N/M Restructuring activities 11 (4 ) 14 N/M (7 ) (52 ) 46 (87 ) Total noninterest expenses 2,194 2,199 (4 ) 0 4,421 4,396 25 1 Noncontrolling interests 0 (1 ) 1 N/M 0 (1 ) 1 N/M Income (loss) before income taxes 262 338 (76 ) (23 ) 586 768 (182 ) (24 ) N/M – Not meaningful 1 C overs operations in Belgium , India, Italy and Spain . 2 Covers operations in Poland and Portugal as well as Private Client Services (PCS) and Hua Xia in historical periods. Asset Management Three months ended Six months ended in € m. Jun 30, 2018 Jun 30, 2017 Absolute Change Change in % Jun 30, 2018 Jun 30, 2017 Absolute Change Change in % Net revenues: Management Fees 530 575 (45 ) (8 ) 1,062 1,139 (78 ) (7 ) Performance and transaction fees 29 86 (57 ) (66 ) 47 105 (58 ) (55 ) Other revenues 1 15 (14 ) (95 ) (3 ) 38 (42 ) N/M Total net revenues 561 676 (116 ) (17 ) 1,106 1,283 (177 ) (14 ) Provision for credit losses (1 ) 0 0 42 0 0 0 (64 ) Total noninterest expenses: Compensation and benefits 194 202 (8 ) (4 ) 388 400 (12 ) (3 ) General and administrative expenses 240 234 7 3 517 455 61 13 Impairment of goodwill and other intangible assets 0 0 0 N/M 0 0 0 N/M Restructuring activities 7 2 5 N/M 9 4 5 133 Total noninterest expenses 441 438 3 1 914 860 55 6 Noncontrolling interests 26 1 25 N/M 26 1 25 N/M Income (loss) before income taxes 93 238 (144 ) (61 ) 165 422 (257 ) (61 ) N/M – Not meaningful Co rporate & Other (C& O ) Three months ended Six months ended in € m. Jun 30, 2018 Jun 30, 2017 Absolute Change Change in % Jun 30, 2018 Jun 30, 2017 Absolute Change Change in % Net revenues (91 ) (237 ) 146 (62 ) (145 ) (610 ) 465 (76 ) Provision for credit losses (2 ) 1 (2 ) N/M 0 0 1 N/M Noninterest expenses: Compensation and benefits 798 757 41 5 1,566 1,565 0 0 General and administrative expenses (721 ) (611 ) (110 ) 18 (1,375 ) (1,274 ) (101 ) 8 Impairment of goodwill and other intangible assets 0 0 0 N/M 0 0 0 N/M Restructuring activities 0 0 0 (100 ) 0 0 0 N/M Total noninterest expenses 77 145 (69 ) (47 ) 191 291 (100 ) (34 ) Noncontrolling interests (48 ) (19 ) (29 ) 153 (51 ) (23 ) (28 ) 121 Income (loss) before income taxes (119 ) (364 ) 246 (67 ) (286 ) (878 ) 593 (67 ) N/M – Not meaningful |
Basis of Preparation
Basis of Preparation | 3 Months Ended |
Jun. 30, 2018 | |
Basis of Preparation of Financial Statements [Abstract] | |
Disclosure of basis of preparation of financial statements [text block] | Basis of Preparation ( unaudited ) The accompanying condensed consolidated interim financial statements, which include Deutsche Bank AG and its subsidiaries (collectively the “Group”, “Deutsche Bank” or “DB”), are stated in euros, the presentation currency of the Group. They are presented in accordance with the requirements of IAS 34, “Interim Financial Reporting”, and have been prepared in accordance with International Financial Reporting Standards (“IFRS”) as issued by the International Accounting Standards Board (“IASB”) and endorsed by the European Union (“EU”). The Group’s application of IFRS results in no differences between IFRS as issued by the IASB and IFRS as endorsed by the EU. Some IFRS disclosures incorporated in the Management Report are an integral part of the consolidated interim financial statements. These include the Segmental Results of Operations of the Segmental Information note which is presented in the Operating and Financial Review: Segmental Results of the Management Report. The presentation of this information is in compliance with IAS 34 and IFRS 8, “Operating Segments”. Deutsche Bank’s condensed consolidated interim financial statements are unaudited and include supplementary disclosures on segment information, income statement, balance sheet and other financial information. They should be read in conjunction with the audited consolidated financial statements of Deutsche Bank for 2017, for which the same accounting policies and critical accounting estimates have been applied with the exception of the newly adopted accounting pronouncements outlined in section “Impact of Changes in Accounting Principles” and “ IFRS 9 Transition Impact Analysis ”. 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 and the results reported should not be regarded as necessarily indicative of results that may be expected for the entire year. Discount Rate for Defined Benefit Pension Plans: In 2017 the Group moved to a more standardized, simpler approach to set its discount rate used to value its defined benefit plans in the eurozone; similar approaches are generally accepted and are already used for the Group’s other major pension plans in the United Kingdom and the United States. The refinement resulted in no change in the discount rate and so no effect on the Group’s Consolidated Statement of Comprehensive Income in 2017. Adjustment of Impairment Methodology for Shipping Loans: In the third quarter of 2017, the Group adjusted the parameters for shipping loans being assessed for impairment under a going concern or gone concern scenario. This change in parameters resulted in a change in the estimated impairment charge of € 70 million increase. The Group also revised its general haircut applied to shipping loans with gone concern exposures, which also resulted in a change in estimate of € 36 million additional impairment. These changes in estimates are reflected in the allowance for credit losses. Home Savings Contracts: In the second quarter of 2018, the Group changed its accounting policy for the obligations related to interest bonuses on home savings contracts. Such bonuses are typically paid to depositors who abstain from entering into a mortgage loan when qualifying for utilization and decide to terminate the contract and receive repayment of the deposit amount plus accrued interest and bonus coupon. Previously, the Group accounted for the obligation to pay an interest bonus as a provision under IAS 37. Developments in market pract ice resulted in the Group analyz ing its accounting policy and deciding to account for the home savings deposit, in its entirety, in accordance with IFRS 9 as it provides more reliable and relevant information about the product. The change in accounting policy resulted in a reclassification of € 1.1 billion and € 1.1 billion from Provisions to Deposits in the Group’s Consolidated Balance Sheet as of 30 June 2018 and 31 December 2017, respectively. The remeasurement of the obligations related to interest bonuses under IFRS 9 compared to IAS 37 resulted in an immaterial effect on the Group’s Consolidated Statement of Comprehensive Income and the Group's total shareholders' equity in the current and all comparative periods; and therefore were not adjusted. |
Impact of Changes in Accounting
Impact of Changes in Accounting Principles | 3 Months Ended |
Jun. 30, 2018 | |
Impact of Changes in Accounting Principles [Abstract] | |
Disclosure of changes in accounting policies [text block] | Impact of Changes in Accounting Principles (unaudited) Recently Adopted Accounting Pronouncements The following are those accounting pronouncements which are relevant to the Group and which have been applied in the preparation of these condensed consolidated interim financial statements. IFRS 2 Share-based Payments On January 1, 2018, the Group adopted amendments to IFRS 2, “Share-based Payment” which clarify the accounting for certain types of share-based payment transactions. The amendments which were developed through the IFRS Interpretations Committee clarify the accounting for cash-settled share-based payment transactions that include a performance condition, the classification of share-based payment transactions with net settlement features and the accounting for modifications of share-based payment transactions from cash-settled to equity-settled. The amendments did not have a material impact on the Group’s consolidated financial statements. IFRS 9 Financial Instruments On January 1, 2018, the Group adopted IFRS 9 “Financial Instruments”, which replaces IAS 39, “Financial Instruments: Recognition and Measurement”. IFRS 9 introduces new requirements on how an entity should classify and measure financial assets, requires changes to the reporting of ‘own credit’ with respect to issued debt liabilities that are designated at fair value, replaces the rules for impairment of financial assets and amends the requirements for hedge accounting. T he standard also requires entities to provide users of financial statements with more informative and relevant disclosures. Please refer to the “ IFRS 9 Transition Impact Analysis ” section for the impact on the Group’s consolidated financial statements. In the second quarter of 2018, the Group adopted the amendments to IFRS 9 “Prepay ment Features with Negative Com pensation”. The amendments did not have a material impact on the IFRS 9 Transition Impact Analysis. IFRS 15 Revenue from Contracts with Customers On January 1, 2018, the Group adopted IFRS 15, “Revenue from Contracts with Customers”, which specifies how and when revenue is recognized, but does not impact income recognition related to financial instruments in scope of IFRS 9. The new requirements replace several other IFRS standards and interpretations that governed revenue recognition under IFRS and provides a single, principles-based five-step model to be applied to all contracts with customers. The Standard also requires entities to provide users of financial statements with more informative and relevant disclosures. IFRS 15 did not have a material impact on the Group’s consolidated financial statements. New Accounting Pronouncements The following accounting pronouncements which are relevant to the Grou p were not effective as of June 30 , 2018 and therefore have not been applied in preparing these condensed consolidated interim financial statements. IFRS 16 Leases In January 2016, the IASB issued IFRS 16, “Leases”, which introduces a single lessee accounting model and requires a lessee to recognize assets and liabilities for all leases with a term of more than 12 months, unless the underlying asset is of low value. A lessee is required to recognize a right-of-use asset representing its right to use the underlying leased asset and a lease liability representing its obligation to make lease payments. There will be only minor changes to the current accounting for lessors. The standard also requires entities to provide users of financial statements with more informative and relevant disclosures. IFRS 16 is effective for annual periods beginning on or after January 1, 2019. The Group is currently assessing the impact of IFRS 16. The standard has been endorsed by the EU. IFRS 17 Insurance Contracts In May 2017, the IASB issued IFRS 17, “Insurance Contracts”, which establishes the principles for the recognition, measurement, presentation and disclosure of insurance contracts within the scope of the standard. IFRS 17 replaces IFRS 4 which has given companies dispensation to carry on accounting for insurance contracts using national accounting standards, resulting in a multitude of different approaches. IFRS 17 solves the comparison problems created by IFRS 4 by requiring all insurance contracts to be accounted for in a consistent manner, benefiting both investors and insurance companies. Insurance obligations will be accounted for using current values – instead of historical cost. The information will be updated regularly, providing more useful information to users of financial statements. IFRS 17 is effective for annual periods beginning on or after January 1, 2021. Based on the Group’s current business activities it is expected that IFRS 17 will not have a material impact on the Group’s consolidated financial statements. The standard has yet to be endorsed by the EU. Improvements to IFRS 2015-2017 Cycles In December 2017, the IASB issued amendments to multiple IFRS standards, which resulted from the IASB’s annual improvement project for the 2015-2017 cycles. This comprises amendments that result in accounting changes for presentation, recognition or measurement purposes as well as terminology or editorial amendments related to IFRS 3 “Business combinations”, IAS 12 “Income taxes” and “IAS 23 Borrowing costs”. The amendments will be effective for annual periods beginning on or after January 1, 2019, with early adoption permitted. The Group expects that the amendments will not have a material impact on the Group’s consolidated financial statements. The amendments have yet to be endorsed by the EU. |
Disclosure of share-based payment arrangements [text block] | IFRS 2 Share-based Payments On January 1, 2018, the Group adopted amendments to IFRS 2, “Share-based Payment” which clarify the accounting for certain types of share-based payment transactions. The amendments which were developed through the IFRS Interpretations Committee clarify the accounting for cash-settled share-based payment transactions that include a performance condition, the classification of share-based payment transactions with net settlement features and the accounting for modifications of share-based payment transactions from cash-settled to equity-settled. The amendments did not have a material impact on the Group’s consolidated financial statements. |
Disclosure of financial instruments [text block] | IFRS 9 Financial Instruments On January 1, 2018, the Group adopted IFRS 9 “Financial Instruments”, which replaces IAS 39, “Financial Instruments: Recognition and Measurement”. IFRS 9 introduces new requirements on how an entity should classify and measure financial assets, requires changes to the reporting of ‘own credit’ with respect to issued debt liabilities that are designated at fair value, replaces the rules for impairment of financial assets and amends the requirements for hedge accounting. T he standard also requires entities to provide users of financial statements with more informative and relevant disclosures. Please refer to the “ IFRS 9 Transition Impact Analysis ” section for the impact on the Group’s consolidated financial statements. In the second quarter of 2018, the Group adopted the amendments to IFRS 9 “Prepay ment Features with Negative Com pensation”. The amendments did not have a material impact on the IFRS 9 Transition Impact Analysis. |
Disclosure of revenue from contracts with customers [text block] | IFRS 15 Revenue from Contracts with Customers On January 1, 2018, the Group adopted IFRS 15, “Revenue from Contracts with Customers”, which specifies how and when revenue is recognized, but does not impact income recognition related to financial instruments in scope of IFRS 9. The new requirements replace several other IFRS standards and interpretations that governed revenue recognition under IFRS and provides a single, principles-based five-step model to be applied to all contracts with customers. The Standard also requires entities to provide users of financial statements with more informative and relevant disclosures. IFRS 15 did not have a material impact on the Group’s consolidated financial statements. |
Disclosure of insurance contracts [text block] | IFRS 17 Insurance Contracts In May 2017, the IASB issued IFRS 17, “Insurance Contracts”, which establishes the principles for the recognition, measurement, presentation and disclosure of insurance contracts within the scope of the standard. IFRS 17 replaces IFRS 4 which has given companies dispensation to carry on accounting for insurance contracts using national accounting standards, resulting in a multitude of different approaches. IFRS 17 solves the comparison problems created by IFRS 4 by requiring all insurance contracts to be accounted for in a consistent manner, benefiting both investors and insurance companies. Insurance obligations will be accounted for using current values – instead of historical cost. The information will be updated regularly, providing more useful information to users of financial statements. IFRS 17 is effective for annual periods beginning on or after January 1, 2021. Based on the Group’s current business activities it is expected that IFRS 17 will not have a material impact on the Group’s consolidated financial statements. The standard has yet to be endorsed by the EU. |
Disclosure of Improvements to IFRS 2015-2017 Cycles [text block] | Improvements to IFRS 2015-2017 Cycles In December 2017, the IASB issued amendments to multiple IFRS standards, which resulted from the IASB’s annual improvement project for the 2015-2017 cycles. This comprises amendments that result in accounting changes for presentation, recognition or measurement purposes as well as terminology or editorial amendments related to IFRS 3 “Business combinations”, IAS 12 “Income taxes” and “IAS 23 Borrowing costs”. The amendments will be effective for annual periods beginning on or after January 1, 2019, with early adoption permitted. The Group expects that the amendments will not have a material impact on the Group’s consolidated financial statements. The amendments have yet to be endorsed by the EU. |
Deutsche Banks Ownership Intere
Deutsche Banks Ownership Interest following Initial Public Offering of DWS shares | 3 Months Ended |
Jun. 30, 2018 | |
Deutsche Banks Ownership Interest following Initial Public Offering of DWS shares [Abstract] | |
Disclosure of Deutsche Banks Ownership Interest following Initial Public Offering of DWS shares [text block] | Deutsche Bank’s Ownership Interest following Initial Public Offering of DWS shares Deutsche Bank announced on February 26, 2018 its intention to proceed with the planned Initial Public Offering (“IPO”) of its subsidiary DWS Group GmbH & Co. KGaA (“DWS”) on the regulated market of the Frankfurt Stock Exchange. The IPO consisted purely of the sale of existing shares directly held by DWS’s sole shareholder, DB Beteiligungs Holding GmbH, a 100 % subsidiary of Deutsche Bank AG. The t otal placement volume is comprised of 44.5 million DWS shares including over-allotments (greenshoe) of 4.5 million shares. As announced on March 22, 2018, the placement price for shares offered in the IPO had been set at € 32.50 per share. As of March 31, 2018, 40.0 million DWS shares were sold to new investors. Based on the placement price, the market capitalization of DWS amounted to € 6.5 billion . Deutsche Bank received gross proceeds of € 1.3 billion from the placement of DWS shares, resulting in investors other than Deutsche Bank holding 20.0 % of DWS. Subsequently, Deutsche Bank remain s DWS’s majority shareholder post IPO. The final carrying amount of DWS’ net assets in the Group’s consolidated financial statements on the date of the IPO was € 6.0 billion . This includes the net assets from the U.S. Asset Management business transferred to DWS on April 2, 2018 which was subject to contractually binding agreements between the Group entities involved and constituted an element of the offering. The following table summarizes the effect of changes in Deutsche Bank’s ownership interest in DWS and their impact on shareholders’ equity at the end of the reporting period : in € m. 2018 Deutsche Bank’s ownership interest at the time of the IPO 5,991 Net decrease in Deutsche Bank’s ownership interest (1,229 ) Deutsche Bank’s share of net income or loss 85 Deutsche Bank’s share of other comprehensive income 120 Deutsche Bank’s share of other equity changes 30 Deutsche Bank’s ownership interest in DWS at the end of the reporting period 4,997 Excess amount from the IPO 74 Total effect on shareholders' equity from a change in Deutsche Bank's ownership interest in DWS, at the end of the reporting period 5,071 By the end of the stabilization period (April 20, 2018), out of the total greenshoe volume of 4.5 million shares, 1,018,128 shares were allocated to new shareholders, which increased the proportion of outside shareholders in DWS to 20.51 % . |
IFRS 9 Transition Impact Analys
IFRS 9 Transition Impact Analysis | 3 Months Ended |
Jun. 30, 2018 | |
IFRS 9 Transition Impact Analysis [Abstract] | |
Explanation of initial application of IFRS 9 [text block] | IFRS 9 Transition Impact Analysis The purpose of this section is to describe the key aspects of the changes following the adoption of IFRS 9 with regards to classification and measurement and impairment as well as to provide an overview of the impact on key ratios, regulatory capital, Total Shareholders’ Equity and Risk Weighted Assets (RWA) at Deutsche Bank. This section provides a movement analysis from IAS 39 reported numbers as included in the Deutsche Bank Annual Report 2017 to IFRS 9 numbers as adopted from January 1, 2018. Further information on the implementation of IFRS 9 can be f ound in Deutsche Bank's IFRS 9 Transition R eport published on April 19, 2018. The transition rules of IFRS 9 do not require a retrospective application to prior periods, accordingly the initial adoption effect is reflected in the opening balance of Shareholders’ equity for the financial year 2018. C omparative periods in the notes i n the following chapters of this report are presented in the structure according to IAS 39. Classification and Measurement Implementation IFRS 9 requires the classification of financial assets to be determined based on both the business model used for managing the financial assets and the contractual cash flow characteristics of the financial asset (also known as SPPI). There was no change from IAS 39 to IFRS 9 for the classification and measurement of financial liabilities. Business Model There are three business models available under IFRS 9: Hold to Collect - Financial assets held with the objective to collect contractual cash flows. Hold to Collect and Sell - Financial assets held with the objective of both collecting contractual cash flows and selling financial assets. Other - Financial assets held with trading intent or that do not meet the criteria of either “Hold to collect” or “Hold to collect and sell”. The assessment of business model requires judgment based on facts and circumstances at the date of the assessment. Deutsche Bank has considered 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 Deutsche Bank’s key management personnel; 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 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). Solely Payments of Principal and Interest (SPPI) If a financial asset is held in either a Hold to Collect or a Hold to Collect and Sell business model, then an assessment to determine whether contractual cash flows are solely payments of principal and interest on the principal amount outstanding at initial recognition is required to determine the classification. Contractual cash flows, that are SPPI on the principal amount outstanding, are consistent with a basic lending arrangement. Interest 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 Amortized Cost A financial asset is classified and subsequently measured at amortized cost, unless designated under the fair value option, 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 minus the principal repayments, plus or minus the cumulative amortization using the effective interest method of any difference between that initial amount and the maturity amount and adjusted for any impairment allowance. 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 ), unless designated under the fair value option, if the financial asset is held in a Hold to Collect and Sell business model and the contractual cash flows are SPPI. Under FVOCI, a financial asset is measured at its fair value with any movements being recognized in Other Comprehensive Income (OCI) and is assessed for impairment under the new ECL model. 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 discount 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. 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 Fair Value through Profit and Loss Any financial asset that is held for trading or that does not fall into the Hold to Collect nor Hold to Collect and Sell business models shall be assigned into the Other business model and is measured at fair value through profit or loss (FVTPL). Additionally, any instrument for which the contractual cash flow characteristics are not SPPI must be measured at FVTPL; even if held in a Hold to Collect or Hold to Collect and Sell business model. Financial instruments are included in the Other business model and held for trading if they have been originated, acquired or incurred principally for the purpose of selling or repurchasing them in the near term, or they form part of a portfolio of identified financial instruments that are managed together and for which there is evidence of a recent actual pattern of short-term profit-taking. Trading assets include debt and equity securities, derivatives held for trading purposes, commodities and trading loans. Trading liabilities consist primarily of derivative liabilities and short positions. Financial Assets Designated at Fair Value through Profit or Loss At initial recognition, Deutsche Bank may irrevocably designate a financial asset that would otherwise be measured subsequently at amortized cost or FVOCI, as measured at FVTPL , if such designation eliminates or significantly reduces a recognition and measurement inconsistency (i.e. accounting mismatch) that would otherwise arise from measuring assets or liabilities or recognizing the gains or losses on a different basis. Impairment Implementation The impairment requirements of IFRS 9 apply to all debt instruments that are measured at amortized cost or FVOCI, and to off balance sheet lending commitments such as loan commitments and financial guarantees (hereafter collectively referred to as “Financial Assets”). This contrasts to the IAS 39 impairment model which was not applicable to loan commitments and financial guarantee contracts, as these were instead covered by International Accounting Standard 37: “Provisions, Contingent Liabilities and Contingent Assets” (IAS 37). The determination of impairment losses and allowance moves from an incurred credit loss model whereby credit losses are recognized when a defined loss event occurs under IAS 39, to an expected credit loss model under IFRS 9, where provisions are taken upon initial recognition of the Financial Asset, based on expectations of potential credit losses at the time of initial recognition. Under IFRS 9, the Group first evaluates individually whether objective evidence of impairment exists for loans that are individually significant. It then collectively assesses loans that are not individually significant and loans which are significant but for which there is no objective evidence of impairment available under the individual assessment. Staged Approach to the Determination of Expected Credit Losses IFRS 9 introduces a three stage approach to impairment for Financial Assets that are performing at the date of origination or purchase. This approach is summarized as follows: Stage 1: The Group recognizes a credit loss allowance at an amount equal to 12-month expected credit losses. This represents the portion of lifetime expected credit losses from default events that are expected within 12 months of the reporting date, assuming that credit risk has not increased significantly after initial recognition. Stage 2: The Group recognizes a credit loss allowance at an amount equal to lifetime expected credit losses (LTECL) for those Financial Assets which are considered to have experienced a significant increase in credit risk since initial recognition. This requires the computation of ECL based on lifetime probability of default (LTPD) that represents the probability of default occurring over the remaining lifetime of the Financial Asset. Allowance for credit losses are higher in this stage because of an increase in credit risk and the impact of a longer time horizon being considered compared to 12 months in Stage 1. Stage 3: The Group recognizes a loss allowance at an amount equal to lifetime expected credit losses, reflecting a Probability of Default (PD) of 100 %, via the recoverable cash flows for the asset, for those Financial Assets that are credit-impaired. The Group’s definition of default is aligned with the regulatory definition. The treatment of loans in Stage 3 remains substantially the same as the treatment of impaired loans under IAS 39 except for homogeneous portfolios. Financial Assets that are credit-impaired upon initial recognition are categorized within Stage 3 with a carrying value already reflecting the lifetime expected credit losses. The accounting treatment for these purchased or originated credit-impaired (POCI) assets is discussed further below. Significant Increase in Credit Risk Under IFRS 9, when determining whether the credit risk (i.e., risk of default) of a Financial Asset has increased significantly since initial recognition, the Group considers reasonable and supportable information that is relevant and available without undue cost or effort. This includes quantitative and qualitative information based on the Group’s historical experience, credit risk assessment and forward-looking information (including macro-economic factors). The assessment of significant credit deterioration is key in determining when to move from measuring an allowance based on 12-month ECLs to one that is based on lifetime ECLs (i.e., Stage 1 to Stage 2). The Group’s framework aligns with the internal CRM process and covers rating related and process related indicators. 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 (CRR) under Art. 178. The determination of whether a Financial Asset is credit impaired focusses exclusively on default risk, without taking into consideration the effects of credit risk mitigants such as collateral or guarantees. Specifically, a Financial Asset is credit impaired and in Stage 3 when: The Group considers the obligor is unlikely to pay its credit obligations to the Group. Determination may include forbearance actions, where a concession has been granted to the borrower or economic or legal reasons that are qualitative indicators of credit impairment; or Contractual payments of either principal or interest by the obligor are past due by more than 90 days. For Financial Assets considered to be credit impaired, the ECL allowance covers the amount of loss the Group is expected to suffer. The estimation of ECLs is done on a case-by-case basis for non-homogeneous portfolios, or by applying portfolio based parameters to individual Financial Assets in these portfolios via the Group’s ECL model for homogeneous portfolios. 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 1) the contractual cash flows that are due to the Group under the contract; and 2) the cash flows that the Group expects to receive. A Financial Asset can be classified as in default 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 our non-homogeneous portfolio has to be performed at least on a quarterly basis within our dedicated application. 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 (i.e. , rated in default by C redit R isk M anagement, CRM ). Such defaulted Financial Assets are termed POCI Financial Assets. Typically the purchase price or fair value at origination embeds expectations of lifetime expected credit losses and therefore no separate c redit loss allowance is recogniz ed on initial recognition. Subsequently, POCI Financial Assets are measured to reflect lifetime expected credit losses, and all subsequent changes in lifetime expected credit losses, whether po sitive or negative, are recogniz ed in the income statement as a component of the pro vision for credit losses. POCI F inancial A ssets can only be classified in Stage 3. Write-Offs The Group reduces the gross carrying amount of a Financial Asset when there is no reasonable expectation of recovery, which is materially unchanged compared to IAS 39. Write-offs can relate to a Financial Asset in its entirety, or to a portion of it, and constitute a derecognition event. Interest Income Calculation For Financial Assets in Stage 1 and Stage 2, the Group calculates interest income by applying the Effective Interest Rate ( EIR ) to the gross carrying amount (i.e. , without deduction for ECL s). Interest income for financial assets in Stage 3 is calculated by applying the EIR to the amortiz ed cost (i.e. , the gross carrying amount less the credit loss allowance). For Financial Assets classified as POCI only, interest income is calculated by applying a credit-adjusted EIR (based on an initial expectation of furth er credit losses) to the amortiz ed cost of these POCI assets. As a result of the amendments to International Accounting Standard 1: “ Presentation of Financial Statements ” (IAS 1) following IFRS 9, the Group will present interest revenue calculated using the EIR method separately in the income statement. The EAD over the lifetime of a Financial Asset is modelled taking into account expected repayment profiles. 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 counterparty 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 counterparty default. This reflects the assumption that for commitments the utilization at the time of default might be higher than the utilization under IAS 39. When 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 statistical experience as well as internal historical data and consider counterparty and product type specifics. Hedge Accounting IFRS 9 incorporates new hedge accounting rules that intend to better align hedge accounting with risk management practices. Generally, some restrictions under IAS 39 rules have been removed and a greater variety of hedging instruments and hedged items become available for hedge accounting. IFRS 9 includes an accounting policy choice to defer the adoption of IFRS 9 hedge accounting and to continue with IAS 39 hedge accounting. The Group has decided to exercise this accounting policy choice and did not adopt IFRS 9 hedge accounting as of January 1, 2018. However, the Group will implement the revised hedge accounting disclosures that are required by the IFRS 9 related amendments to IFRS 7 “Financial Instruments: Disclosures”’. Reconciliation Key Ratios Key Ratios IAS 39 as of Dec 31, 2017 IFRS 9 as of Jan 1, 2018 1 CET 1 ratio fully loaded 14.0 % 13.9 % Leverage Ratio fully loaded 3.8 % 3.8 % Leverage Ratio phase-in 4.1 % 4.1 % 1 Pro forma . Impact on Regulatory Capital, RWA, and Leverage Exposure Fully loaded in € m. Total shareholders’ equity per accounting balance sheet Common Equity Tier 1 capital Tier 1 Capital Balance as of Dec 31, 2017 63,174 48,300 52,921 IFRS 9 changes from (870 ) (870 ) (870 ) Classification and Measurement (193 ) (193 ) (193 ) Impairments (677 ) (677 ) (677 ) Tax effects from 199 199 199 Classification and Measurement 65 65 65 Impairments 134 134 134 IFRS 9 impact net of tax (671 ) (671 ) (671 ) Changes to regulatory deductions Negative amounts resulting from the calculation of expected loss amounts 278 278 Balance as of Jan 1, 2018 1 62,503 47,907 52,528 1 Pro forma . in € bn Risk Weighted Assets Leverage Exposure Balance as of Dec 31, 2017 344 1,395 Changes from 0 (0 ) DTA RWA / Change of Total Assets 1 (1 ) SA RWA/ Lower Deductions (0 ) 0 Balance as of Jan 1, 2018 1 345 1,395 Ratios as of Dec 31, 2017 14.00% 3.80% Ratios as of Jan 1, 2018 1 13.90% 3.80% Change in bps (13 ) (3 ) 1 Pro forma . Transitional rules in € m. Total shareholders’ equity per accounting balance sheet Common Equity Tier 1 capital Tier 1 Capital Balance as of Dec 31, 2017 63,174 50,808 57,631 IFRS 9 changes from (870 ) (870 ) (870 ) Classification and Measurement (193 ) (193 ) (193 ) Impairments (677 ) (677 ) (677 ) Tax effects from 199 199 199 Classification and Measurement 65 65 65 Impairments 134 134 134 IFRS 9 impact net of tax (671 ) (671 ) (671 ) Changes to regulatory deductions Negative amounts resulting from the calculation of expected loss amounts 223 278 Balance as of Jan 1, 2018 1 62,503 50,359 2 57,238 1 Pro forma . 2 Pro forma view considering 80 % phase-in according to CRR transitional rules . in € bn Risk Weighted Assets Leverage Exposure Balance as of Dec 31, 2017 343 1,396 Changes from 0 0 DTA RWA / Change of Total Assets 1 0 SA RWA/ Lower Deductions (0 ) 0 Balance as of Jan 1, 2018 1 344 1,396 Ratios as of Dec 31, 2017 14.80% 4.10% Ratios as of Jan 1, 2018 1 14.60% 4.10% Change in bps (15 ) (3 ) 1 Pro forma . Classification and Measurement The following table provides an overview of the impact of the changes to total assets under classification and measurement, excluding allowances for On- and Off-Balance Sheet positions, affected by IFRS 9. in € m. IAS 39 carrying amount Dec 31, 2017 (i) Reclassifications (ii) Remeasurements (iii) IFRS 9 carrying amount Jan 1, 2018 (iv=i+ii+iii) Fair Value through Profit or Loss From Available for Sale (IAS 39) - 2,535 (3 ) - From Amortized Cost (IAS 39) - 41,914 (3 ) - To Amortised Cost (IFRS 9) - (5,900 ) - - To Fair Value through Other Comprehensive Income (IFRS 9) - (6,508 ) - - Total Fair Value through Profit or Loss 636,970 32,041 (6 ) 669,004 Fair Value through Other Comprehensive Income From Available for Sale (IAS 39) - 41,219 (104 ) - From Amortized Cost (IAS 39) - 9,943 64 - From Fair Value through Profit or Loss (IAS 39) - 6,508 - - To Amortised Cost (IFRS 9) - - - - To Fair Value through Profit or Loss (IFRS 9) - - - - Total Fair Value through Other Comprehensive Income - 57,671 (40 ) 57,631 Amortised Cost From Amortized Cost (IAS 39) - - - - From Available for Sale (IAS 39) - 5,642 24 - From Fair Value through Profit or Loss (IAS 39) - 5,900 (184 ) - To Fair Value through Other Comprehensive Income (IFRS 9) - (6,773 ) - - To Fair Value through Profit or Loss (IFRS 9) - (41,914 ) - - Total Amortised Cost 780,721 (37,145 ) (159 ) 743,417 Tax Assets 8,396 - 230 8,626 Available for Sale (IAS 39) 49,397 (49,397 ) - - Held to Maturity (IAS 39) 3,170 (3,170 ) - - Total Financial Asset balances affected by IFRS 9, Reclassifications and 1,478,654 0 24 1,478,678 Impairment The following table provides an overview of the impact of the changes to allowances for On- and Off-Balance S heet positions affected by IFRS 9. in € m. IAS 39 Allowance for On-and Off- Balance Sheet positions as at Dec 31, 2017 (i) Changes due to reclassifications (ii) Changes due to the introduction of the IFRS 9 ECL model (iii) IFRS 9 Allowance for On-and Off- Balance Sheet Positions as at Jan 1, 2018 (iv=i+ii+iii) Fair Value through profit or loss From available for sale (IAS 39) - - - - From amortized cost (IAS 39) - - - - To amortized cost (IFRS 9) - - - - To fair value through other comprehensive income (IFRS 9) - - - - Total Fair Value through Profit or Loss - - - - Fair Value through other comprehensive income From available for sale (IAS 39) - - 12 12 From amortized cost (IAS 39) - - 0 0 From fair value through profit or loss (IAS 39) - - - - To amortized cost (IFRS 9) - - - - To fair value through profit or loss (IFRS 9) - - - - Total Fair Value through Other Comprehensive Income - - 12 12 Amortised cost From amortized cost (IAS 39) 3,856 - 737 4,594 From available for sale (IAS 39) - - - - From fair value through profit or loss (IAS 39) - - 9 9 To fair value through other comprehensive income (IFRS 9) 10 (10 ) - - To fair value through profit or loss (IFRS 9) 55 (55 ) - - Total Amortised Cost 3,921 (65 ) 746 4,603 Total On Balance Sheet Positions affected by IFRS 9 ECL Model 3,921 (65 ) 758 4,615 Off Balance Sheet 285 - (6 ) 280 Total On- and Off Balance Sheet Positions affected by IFRS 9 ECL Model 4,207 (65 ) 753 4,894 |
Segment Information
Segment Information | 3 Months Ended |
Jun. 30, 2018 | |
Segment Information [Abstract] | |
Description of accounting policy for segment reporting [text block] | Segment Information (unaudited) The following segment information has been prepared in accordance with the “management approach”, which requires presentation of the segments on the basis of the internal management reports of the entity which are regularly reviewed by the chief operating decision maker, which is the Deutsche Bank Management Board, in order to allocate resources to a segment and to assess its financial performance. Business Segments The Group’s segment reporting follows the organizational structure as reflected in its internal management reporting systems, which are the basis for assessing the financial performance of the business segments and for allocating resources to the business segments. Generally, restatements due to changes in the organizational structure were implemented in the presentation of prior period comparables if they were considered in the Group’s management reporting systems. Our business operations are organized under the divisional structure comprising the following divisions: ‒ Corporate & Investment Bank (“CIB”) ‒ Private & Commercial Bank (“PCB”) ‒ Asset Management (“AM”) The key changes compared to Deutsche Bank’s previously reported segmental information are outlined below. In the first quarter of 2018, t he definition of CIB’s ‘Sales & Trading (FIC)’ revenue category has been updated to improve alignment with peer reporting and enable more relevant comparisons. As a result, the category ‘Financing’ ceased to exist and the majority of revenues previously reported under that category , f or the year 2017 more than 95 % , has been moved into the ‘Sales & Trading (FIC)’ category and the remainder into “Other”. In the current quarter revenues related to Listed Derivatives & Clearing have been transferred from Sales & Trading ( FIC ) to Sales & Trading ( Equities ) to better align to the priorities of the business . The presentation of comparison periods has been adjusted accordingly . In May 2018, Deutsche Bank successfully merged Postbank and Deutsche Bank’s private & commercial clients business in Germany into DB Privat- und Firmenkundenbank AG. After the agreement to sell our retail business in Portugal and agreement for the partial sale of the Polish retail business in the first quarter of 2018, revenues from these Private and Commercial Clients International (PCCI) businesses, as well as Hua Xia Bank and the PCS disposed business are reported in a separate category to better reflect our exited businesses. As a result, PCB revenues are now reported as follows: ‒ Private and Commercial Business (Germany), ‒ Private and Commercial Business (International), which covers operations in Belgium, India, Italy and Spain , ‒ Wealth Management (Global), and ‒ Exited businesses, which covers operations in Poland and Portugal as well as Private Client Services (PCS) and Hua Xia Bank in historical periods . The presentation of comparison periods has been adjusted accordingly. In March 2017, Deutsche Bank announced its intention to purs ue an initial public offering (IPO ) of Deutsche Asset Management , which was completed in March 2018. Since March 23, 2018, shares of the holding company DWS Group GmbH & Co. KGaA are listed on the Frankfurt stock exchange. The corporate division “Deutsche Asset Management” was renamed “Asset Management” during the first quarter 2018 . From 2018 onwards Infrastructure expenses are allocated to the corporate divisions based on Plan. Any delta between Plan and Actual allocations is captured centrally within “Corporate & Other”. Infrastructure expenses relating to shareholder activities as defined in the OECD Transfer Pricing Guidelines , i.e. costs for specific group functions , are no longer allocated to segments, but instead held centrally and reported under ‘Corporate & Other (C&O)’, formerly ‘Consolidation & Adjustments (C&A)’. In 2017 these infrastructure expenses amounted to approximately € 370 million . The presentation of comparison periods has been adjusted accordingly. All categories previously reported under C&A, including valuation and timing differences as well as treasury-related and corporate items not allocated to the divisions, remain in C&O . Capital Expenditures and Divestitures During the first half of 2018, the Group has made the following capital expenditures or divestitures: In early October 2017, Deutsche Bank Group signed a binding agreement to sell a unit of the Global Transaction Banking division, to Apex Group Limited. In June 2018 the transaction was successfully completed. In March 2018, Deutsche Bank Group entered into an agreement to sell its Portuguese Private & Commercial Clients business to Abanca Corporación Bancaria S.A. The transaction is expected to be closed in the first half of 2019 and is subject to all required approvals, regulatory notifications, corporate consents and other conditions . Allocation of Average Shareholders’ Equity Since 2017, Shareholders’ equity is f ully allocated to the Group’s segments based on the regulatory capital demand of each segment and is no longer capped at the amount of shareholders’ equity required to meet the externally communicated targets for the Group’s Common Equity Tier 1 ratio and the Group’s L everage ratio. Regulatory capital demand reflects the combined contributi on of each segment to the Group’s Common Equity Tier 1 ratio, the Group’s Leverage ratio and the Group’s Capital Loss under Stress. Contributions in each of the three dimensions are weighted to reflect their relative importance and level of constraint for the Group. Contributions to the Common Equity Tier 1 ratio and the Leverage ratio are measured though Risk- Weighted Assets (RWA) and Leverage Ratio Exposure (LRE) assuming full implementation of CRR/CRD 4 rules. The Group’s Capital Loss under Stress is a measure of the Group’s overall economic risk exposure under a defined stress scenario. Goodwill and other intangible s continue to be directly attributed to the Group’s segments in order to allow the determination of allocated tangible shareholders’ equity and the respective returns. Shareholders’ equity and tangible shareholders’ equity is allocated on a monthly basis and averaged across quarters and for the full year. All reported periods for 2016 and 2017 have been restated. The difference between the spot values of the segments and the average Group amount is captured in C& O. For purposes of the 2017 average shareholders’ equity allocation the Non-Core Operations Unit (NCOU) balances from year-end 2016 have been allocated to Corporate & Other (C&O ) as the Non-Core Operations Unit (NCOU) has ceased to exist as a separate corporate division from 2017 onwards. Segmental Results of Operations For the results of the business segments, including the reconciliation to the consolidated results of operations under IFRS, please see “Management Report: Operating and Financial Review: Results of Operations: Segment Results of Operations” of this Interim Report. |
Pensions and Other Post-Employm
Pensions and Other Post-Employment Benefits | 3 Months Ended |
Jun. 30, 2018 | |
Pensions and Other Post-Employment Benefits [Abstract] | |
Disclosure of Pensions and Other Post-Employment Benefits [text block] | Pensions and Other Post-Employment Benefits Three months ended Six months ended in € m. Jun 30, 2018 Jun 30, 2017 Jun 30, 2018 Jun 30, 2017 Service cost 90 85 124 171 Net interest cost (income) 1 3 2 5 Total expenses defined benefit plans 91 88 126 176 Total expenses for defined contribution plans 106 99 224 231 Total expenses for post-employment benefits 198 187 350 407 Employer contributions to mandatory German social security pension plan 65 59 119 122 The Group expects to pay approximately € 300 million in regular contributions to its retirement benefit plans in 2018 . It is not expected that any plan assets will be returned to the Group during the year ending December 31, 20 18 . Discount rate to determine defined benefit obligation Jun 30, 2018 Dec 31, 2017 Germany 1.70% 1.70% UK 2.60% 2.50% U.S. 4.10% 3.50% |
Effective Tax Rate
Effective Tax Rate | 3 Months Ended |
Jun. 30, 2018 | |
Effective Tax Rate [Abstract] | |
Disclosure of effective tax rate [text block] | Effective Tax Rate 201 8 to 201 7 Three Months Comparison Income tax expens e in the current quarter was € 310 million (second quarter of 201 7 : € 3 57 million). The effective tax rate of 44 % was mainly impacted by non-tax deductible expenses . The prior year’s quarter effective tax rate was 43 % . 2018 to 2017 Six Months Comparison Income tax expense in the first half of 201 8 was € 622 million (first half of 2017 : € 660 million). The effective tax rate of 54 % (first half of 2017: 39 % ) was mainly impacted by non-tax deductible expenses and tax effects related to share based payments . |
Financial assets mandatory at f
Financial assets mandatory at fair value through other comprehensive income | 3 Months Ended |
Jun. 30, 2018 | |
Financial assets mandatory at fair value through other comprehensive income [Abstract] | |
Financial assets mandatory at fair value through other comprehensive income [text block] | Financial assets mandatory at fair value through other comprehensive income in € m. Jun 30, 2018 Dec 31, 2017 Securities purchased under resale agreement 1,703 N/A Debt securities 42,298 N/A Loans 4,811 N/A Total financial assets mandatory at fair value through other comprehensive income 48,812 N/A |
Long-Term Debt
Long-Term Debt | 3 Months Ended |
Jun. 30, 2018 | |
Long-Term Debt and Trust Preferred Securities [Abstract] | |
Disclosure of Long-Term Debt [text block] | Long-Term Debt in € m. Jun 30, 2018 Dec 31, 2017 Senior debt: Bonds and notes Fixed rate 79,101 76,285 Floating rate 31,356 33,210 Subordinated debt: Bonds and notes Fixed rate 5,216 5,493 Floating rate 1,482 1,738 Other 40,398 42,988 Total long-term debt 157,553 159,715 |
Shares Issued and Outstanding
Shares Issued and Outstanding | 3 Months Ended |
Jun. 30, 2018 | |
Shares Issued and Outstanding [Abstract] | |
Disclosure of Shares Issued and Outstanding [text block] | Shares Issued and Outstanding in million Jun 30, 2018 Dec 31, 2017 Shares issued 2,066.8 2,066.8 Shares in treasury 6.9 0.4 Thereof: Buyback 6.8 0.2 Other 0.1 0.2 Shares outstanding 2,059.9 2,066.4 |
Net Interest Income and Net G42
Net Interest Income and Net Gains (Losses) on Financial Assets/Liabilities at Fair Value through Profit or Loss (Tables) | 3 Months Ended |
Jun. 30, 2018 | |
Net Interest Income and Net Gains (Losses) on Financial Assets/Liabilities at Fair Value through Profit or Loss [Abstract] | |
Net Interest Income and Net Gains (Losses) on Financial Assets/Liabilities at Fair Value through Profit or Loss [text block table] | Three months ended Six months ended in € m. Jun 30, 2018 Jun 30, 2017 Jun 30, 2018 Jun 30, 2017 Net interest income 3,429 3,081 6,342 6,138 Trading income 1 (175 ) 1,078 867 2,514 Net gains (losses) on non-trading financial assets mandatory at fair value through profit or loss 46 N/A 24 N/A Net gains (losses) on financial assets/liabilities designated at fair value through profit or loss 275 (234 ) 405 (560 ) Total net gains (losses) on financial assets/liabilities at fair value through profit or loss 147 845 1,296 1,953 Total net interest income and net gains (losses) on financial assets/liabilities 3,576 3,926 7,639 8,091 Sales & Trading (Equity) 426 425 865 905 Sales & Trading (FIC) 1,219 1,520 2,876 3,806 Total Sales & Trading 1,645 1,945 3,741 4,711 Global Transaction Banking 443 464 906 975 Remaining Products (14 ) (261 ) (164 ) (669 ) Corporate & Investment Bank 2,074 2,148 4,482 5,017 Private & Commercial Bank 1,573 1,657 3,103 3,066 Asset Management 18 (10 ) (20 ) 29 Corporate & Other (89 ) 131 73 (20 ) Total net interest income and net gains (losses) on financial assets/liabilities 3,576 3,926 7,639 8,091 1 Trading income includes gains and losses from derivatives not qualifying for hedge accounting. |
Commission and Fee Income (Tabl
Commission and Fee Income (Tables) | 3 Months Ended |
Jun. 30, 2018 | |
Commissions and Fee Income [Abstract] | |
Disaggregation of revenues by product type and business segment based on IFRS 15 [text block table] | Disaggregation of revenues by product type and business segment – based on IFRS 15 Three months ended Jun 30, 2018 in € m. Corporate & Investment Bank Private & Commercial Bank Asset Management Corporate & Other Total Consolidated Major type of services: Commissions for administration 78 64 6 (0 ) 147 Commissions for assets under management 18 63 801 (0 ) 882 Commissions for other securities 75 7 1 0 83 Underwriting and advisory fees 504 6 0 (7 ) 503 Brokerage fees 305 215 26 0 546 Commissions for local payments 103 258 0 (0 ) 361 Commissions for foreign commercial business 120 36 0 (0 ) 156 Commissions for foreign currency/exchange business 2 2 0 0 4 Commissions for loan processing and guarantees 213 82 0 0 296 Intermediary fees 1 127 0 3 131 Fees for sundry other customer services 201 60 31 1 292 Total fee and commissions income 1,619 920 865 (4 ) 3,400 Gross expense (731 ) Net fees and commissions 2,669 Prior to adoption of IFRS 15 the Group disclosed total commissions and fee income and expenses on a gross basis annually. For the three months ended 3 0 June 2017 , t he disaggregation of c ommissions and fees into f iduciary activities € 1.1 billion , co mmissions, brokers’ fees, mark-ups on securities underwriting and other securities activities € 793 million and f ees for other customer services € 923 million was reported quarterly on a net basis. Six months ended Jun 30, 2018 in € m. Corporate & Investment Bank Private & Commercial Bank Asset Management Corporate & Other Total Consolidated Major type of services: Commissions for administration 150 131 12 (1 ) 292 Commissions for assets under management 32 130 1,617 (0 ) 1,778 Commissions for other securities 142 16 2 0 160 Underwriting and advisory fees 973 10 0 (21 ) 963 Brokerage fees 674 516 45 (0 ) 1,236 Commissions for local payments 209 512 (0 ) (1 ) 721 Commissions for foreign commercial business 241 71 0 (0 ) 311 Commissions for foreign currency/exchange business 4 4 0 (0 ) 7 Commissions for loan processing and guarantees 425 161 0 1 586 Intermediary fees 5 250 0 7 261 Fees for sundry other customer services 380 119 56 1 556 Total fee and commissions income 3,235 1,918 1,731 (15 ) 6,870 Gross expense (1,511 ) Net fees and commissions 5,359 Prior to adoption of IFRS 15 the Group disclosed total commissions and fee income and expenses on a gross basis annually. For the six months ended 3 0 June 2017 , t he disaggregation of c ommissions and fees into f iduciary activities € 2.2 billion , c ommissions, brokers’ fees, mark-ups on securities underwriting and other securities activities € 1.6 billion and f ees for other customer services € 1.9 billion was reported on a net basis. |
General and Administrative Ex44
General and Administrative Expenses (Tables) | 6 Months Ended |
Jun. 30, 2017 | |
General and administrative expenses [Abstract] | |
General and Administrative Expenses [text block table] | Three months ended Six months ended in € m. Jun 30, 2018 Jun 30, 2017 Jun 30, 2018 Jun 30, 2017 IT costs 904 933 1,926 1,869 Regulatory, Tax & Insurance 1,2 196 234 1,098 1,006 Occupancy, furniture and equipment expenses 436 449 871 898 Professional service fees 391 425 784 841 Banking and transaction charges 187 193 362 354 Communication and data services 157 180 313 356 Travel and representation expenses 93 96 191 194 Marketing expenses 78 66 145 126 Other expenses 3 110 147 317 280 Total general and administrative expenses 2,552 2,724 6,008 5,924 1 Regulatory, Tax & Insurance which comprises Bank levy and Insurance and Deposit protection ha s been presented separately in order to provide further transparency. In the Interim Report f or quarter ended June 30 , 2017, these expenses were included within O ther expenses. 2 Includes bank levy of € 11 million for the three months ended June 30 , 2018 and € 21 million for the three months ended June 30 , 2017. Bank levy was € 675 million for six months ended June 30, 2018 and € 561 million for six months ended June 30, 2017. 3 Includes net credit on litigation related expenses of € 31 million f or the three months ended June 30 , 2018 and a net credit of € 26 million for the three months ended June 30 , 2017. Litigation related expenses for six months ended June 30, 2018 were € 35 million and a net credit for six months ended June 30, 2017 was € 57 million . |
Restructuring (Tables)
Restructuring (Tables) | 3 Months Ended |
Jun. 30, 2018 | |
Restructuring [Abstract] | |
Net Restructuring Expense by Division [text block table] | Net restructuring expense by division Three months ended Six months ended in € m. Jun 30, 2018 Jun 30, 2017 Jun 30, 2018 Jun 30, 2017 Corporate & Investment Bank 165 66 178 98 Private & Commercial Bank 11 (4 ) (7 ) (52 ) Asset Management 7 2 9 4 Total Net Restructuring Charges 182 64 181 50 |
Net Restructuring by Type [text block table] | Net restructuring expense by type Three months ended Six months ended in € m. Jun 30, 2018 Jun 30, 2017 Jun 30, 2018 Jun 30, 2017 Restructuring – Staff related 181 64 184 55 Thereof: Termination Payments 90 54 85 38 Retention Acceleration 86 10 94 16 Social Security 5 1 5 1 Restructuring – Non Staff related 1 1 0 (3 ) (4 ) Total net restructuring Charges 182 64 181 50 1 Contract costs, mainly related to real estate and technology. |
Organizational Changes [text block table] | Three months ended Jun 30, 2018 Corporate & Investment Bank 461 Private & Commercial Bank 88 Asset Management 21 Infrastructure 141 Total full-time equivalent staff 712 |
Financial Assets_Liabilities 46
Financial Assets/Liabilities at Fair Value through Profit or Loss (Tables) | 3 Months Ended |
Jun. 30, 2018 | |
Financial Assets/Liabilities at Fair Value through Profit or Loss [Abstract] | |
Financial Assets at Fair Value through Profit and Loss [text block table] | Information on the Consolidated Balance Sheet (unaudited) Financial Assets/Liabilities at Fair Value through Profit or Loss in € m. Jun 30, 2018 Dec 31, 2017 Trading Financial assets: Trading assets: Trading securities 148,811 173,196 Other trading assets 1 11,835 11,466 Total trading assets 160,646 184,661 Positive market values from derivative financial instruments 347,582 361,032 Total Trading Financial assets 508,228 545,693 Non-trading financial assets mandatory at fair value through profit or loss: Securities purchased under resale agreements 39,549 N/A Securities borrowed 21,367 N/A Loans 13,269 N/A Other financial assets mandatory at fair value through profit or loss 19,184 N/A Total Non-trading financial assets mandatory at fair value through profit or loss 93,370 N/A Financial assets designated at fair value through profit or loss: Securities purchased under resale agreements 0 57,843 Securities borrowed 0 20,254 Loans 0 4,802 Other financial assets designated at fair value through profit or loss 673 8,377 Total financial assets designated at fair value through profit or loss 673 91,276 Total financial assets at fair value through profit or loss 602,270 636,970 1 Includes traded loans of € 10.7 billion and € 10.9 billion at June 3 0 , 201 8 and December 31, 201 7 , respectively. in € m. Jun 30, 2018 Dec 31, 2017 Financial liabilities classified as held for trading: Trading liabilities: Trading securities 59,984 71,148 Other trading liabilities 728 314 Total trading liabilities 60,712 71,462 Negative market values from derivative financial instruments 333,375 342,726 Total financial liabilities classified as held for trading 394,087 414,189 Financial liabilities designated at fair value through profit or loss: Securities sold under repurchase agreements 31,340 53,840 Loan commitments 0 8 Long-term debt 6,248 6,439 Other financial liabilities designated at fair value through profit or loss 2,332 3,587 Total financial liabilities designated at fair value through profit or loss 39,920 63,874 Investment contract liabilities 560 574 Total financial liabilities at fair value through profit or loss 434,567 478,636 |
Financial Instruments carried47
Financial Instruments carried at Fair Value (Tables) | 3 Months Ended |
Jun. 30, 2018 | |
Financial Instruments carried at Fair Value [Abstract] | |
Carrying Value of The Financial Instruments held at Fair Value [text block table] | Carrying value of the financial instruments held at fair value 1 Jun 30, 2018 Dec 31, 2017 in € m. Quoted prices in active market (Level 1) Valuation technique observable parameters (Level 2) Valuation technique unobservable parameters (Level 3) Quoted prices in active market (Level 1) Valuation technique observable parameters (Level 2) Valuation technique unobservable parameters (Level 3) Financial assets held at fair value: Trading assets 89,787 61,833 9,027 106,075 69,543 9,043 Trading securities 89,494 55,426 3,891 105,792 62,770 4,634 Other trading assets 292 6,407 5,136 283 6,773 4,409 Positive market values from derivative financial instruments 8,342 331,270 7,970 12,280 341,413 7,340 Non-trading financial assets mandatory at fair value through profit or loss 10,764 77,707 4,899 N/A N/A N/A Financial assets designated at fair value through profit or loss 97 560 17 6,547 83,242 1,488 Financial assets mandatory at fair value through OCI 27,190 21,516 106 N/A N/A N/A Financial assets available for sale N/A N/A N/A 29,579 15,713 4,104 Other financial assets at fair value 79 2,589 2 216 3 0 3,258 2 47 3 Total financial assets held at fair value 136,257 495,474 22,235 154,480 513,169 22,022 Financial liabilities held at fair value: Trading liabilities 42,783 17,807 121 53,644 17,817 2 Trading securities 42,780 17,083 121 53,644 17,503 2 Other trading liabilities 4 725 0 0 314 0 Negative market values from derivative financial instruments 8,318 318,745 6,312 9,163 327,572 5,992 Financial liabilities designated at fair value through profit or loss 0 38,592 1,329 4 62,426 1,444 Investment contract liabilities 0 560 0 0 574 0 Other financial liabilities at fair value 41 2,523 2 (476 ) 3 0 1,294 2 (298 ) 3 Total financial liabilities held at fair value 51,143 378,226 7,286 62,810 409,683 7,139 1 Amounts in this table are generally presented on a gross basis, in line with the Group’s accounting policy regarding offsetting of financial instruments, as described in Note 1 “Significant Accounting Policies and Critical Accounting Estimates” of the Annual Report 2017. 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 Jun 30, 2018 in € m. Balance, beginning of year Changes in the group of consoli- dated com- panies Total gains/ losses 1 Purchases Sales Issu- ances 2 Settle- ments 3 Transfers into Level 3 4 Transfers out of Level 3 4 Balance, end of period Financial assets Trading securities 4,148 0 19 1,228 (1,437 ) 0 (318 ) 1,087 (835 ) 3,891 Positive market 7,340 0 471 0 0 0 9 1,521 (1,371 ) 7,970 Other trading 4,426 0 117 606 (921 ) 940 (402 ) 603 (234 ) 5,136 Non-trading financial assets mandatory at fair value through profit or loss 4,573 0 207 1,413 (414 ) 1 (780 ) 247 (348 ) 4,899 Financial assets 91 0 (49 ) 0 0 0 (23 ) 0 (2 ) 17 Financial assets mandatory at fair value through OCI 231 0 (2 ) 5 71 (25 ) 0 (7 ) 3 (165 ) 106 Other financial 47 0 (3 ) 0 0 0 (9 ) 212 (32 ) 216 Total financial assets 20,855 8 0 761 6,7 3,319 (2,796 ) 941 (1,530 ) 3,672 (2,987 ) 22,235 Financial liabilities Trading securities 2 0 1 0 0 0 0 120 (1 ) 121 Negative market 5,992 0 407 0 0 0 23 1,073 (1,182 ) 6,312 Other trading 0 0 0 0 0 0 0 0 0 0 Financial liabilities 1,444 0 (187 ) 0 0 309 (107 ) 17 (146 ) 1,329 Other financial (298 ) 0 (204 ) 0 0 0 4 60 (39 ) (476 ) Total financial 7,139 0 16 6,7 0 0 309 (80 ) 1,269 (1,368 ) 7,286 1 Total gains and losses predominantly relate to net gains (losses) on financial assets/liabilities at fair value through profit or loss reported in the consolidated statement of income. The balance also includes net gains (losses) on financial assets available for sale reported in the consolidated statement of income and unrealized net gains (losses) on financial assets available for sale and exchange rate changes reported in other comprehensive income, net of tax. Further, certain instruments are hedged with instruments in level 1 or level 2 but the table above does not include the gains and losses on these hedging instruments. Additionally, both observable and unobservable parameters may be used to determine the fair value of an instrument classified within level 3 of the fair value hierarchy; the gains and losses presented below are attributable to movements in both the observable and unobservable parameters. 2 Issuances relate to the cash amount received on the issuance of a liability and the cash amount paid on the primary issuance of a loan to a borrower. 3 Settlements represent cash flows to settle the asset or liability. For debt and loan instruments this includes principal on maturity, principal amortizations and principal repayments. For derivatives all cash flows are presented in settlements. 4 Transfers in and transfers out of level 3 are related to changes in observability of input parameters. During the period they are recorded at their fair value at the beginning of year. For instruments transferred into level 3 the table shows the gains and losses and cash flows on the instruments as if they had been transferred at the beginning of the year. Similarly for instruments transferred out of level 3 the table does not show any gains or losses or cash flows on the instruments during the period since the table is presented as if they have been transferred out at the beginning of the year. 5 Total gains and losses on financial assets mandatory at fair value through OCI include a loss of € 6 million recognized in other comprehensive income, net of tax and a loss of € 3 million recognized in the income statement presented in net gains (losses ) . 6 This amount includes the effect of exchange rate changes. For total financial assets held at fair value this effect is a gain of € 73 million and for total financial liabilities held at fair value this is a loss of € 19 million . The effect of exchange rate changes is reported in accumulated other comprehensive income, net of tax. 7 For assets, positive balances represent gains, negative balances represent losses. For liabilities, positive balances represent losses , negative balances represent gains. 8 Opening balance have been restated due to reassessment of trades due to IFRS 9 . Jun 30, 2017 in € m. Balance, beginning of year Changes in the group of consoli- dated com- panies Total gains/ losses 1 Purchases Sales Issu- ances 2 Settle- ments 3 Transfers into Level 3 4 Transfers out of Level 3 4 Balance, end of period Financial assets Trading securities 5,012 0 (24 ) 843 (1,176 ) 0 (229 ) 1,162 (752 ) 4,836 Positive market 9,798 0 (638 ) 0 0 0 (645 ) 2,204 (2,498 ) 8,221 Other trading 5,674 (7 ) (317 ) 924 (1,734 ) 261 (622 ) 584 (569 ) 4,194 Financial assets 1,601 0 (62 ) 88 (76 ) 71 (318 ) 117 (256 ) 1,166 Financial assets 4,153 (2 ) 121 5 93 (61 ) 0 (537 ) 208 (25 ) 3,950 Other financial 33 0 (2 ) 0 0 0 (14 ) 0 0 18 Total financial assets 26,271 (8 ) (921 ) 6,7 1,948 (3,048 ) 332 (2,364 ) 4,274 (4,100 ) 22,384 Financial liabilities Trading securities 52 0 (3 ) 0 0 0 (44 ) 0 0 5 Negative market 8,857 0 (544 ) 0 0 0 (444 ) 844 (1,697 ) 7,016 Other trading 0 0 0 0 0 0 0 0 0 0 Financial liabilities 2,229 (7 ) (36 ) 0 0 119 (102 ) 70 (370 ) 1,904 Other financial (848 ) 0 140 0 0 0 36 (18 ) 54 (636 ) Total financial 10,290 (7 ) (442 ) 6,7 0 0 119 (554 ) 897 (2,013 ) 8,289 1 Total gains and losses predominantly relate to net gains (losses) on financial assets/liabilities at fair value through profit or loss reported in the consolidated statement of income. The balance also includes net gains (losses) on financial assets available for sale reported in the consolidated statement of income and unrealized net gains (losses) on financial assets available for sale and exchange rate changes reported in other comprehensive income, net of tax. Further, certain instruments are hedged with instruments in level 1 or level 2 but the table above does not include the gains and losses on these hedging instruments. Additionally, both observable and unobservable parameters may be used to determine the fair value of an instrument classified within level 3 of the fair value hierarchy; the gains and losses presented below are attributable to movements in both the observable and unobservable parameters. 2 Issuances relate to the cash amount received on the issuance of a liability and the cash amount paid on the primary issuance of a loan to a borrower. 3 Settlements represent cash flows to settle the asset or liability. For debt and loan instruments this includes principal on maturity, principal amortizations and principal repayments. For derivatives all cash flows are presented in settlements. 4 Transfers in and transfers out of level 3 are related to changes in observability of input parameters. During the period they are recorded at their fair value at the beginning of year. For instruments transferred into level 3 the table shows the gains and losses and cash flows on the instruments as if they had been transferred at the beginning of the year. Similarly for instruments transferred out of level 3 the table does not show any gains or losses or cash flows on the instruments during the period since the table is presented as if they have been transferred out at the beginning of the year. 5 Total gains and losses on financial assets available for sale include a gain of € 26 million recognized in other comprehensive income, net of tax, and a gain of € 23 million recog nized in the income statement presented in net gains (losses) on financial assets available for sale. 6 This amount includes the effect of exchange rate changes. For total financial assets held at fair value this effect is a loss of € 327 million and for total financial liabilities held at fair value this is a gain of € 75 million . The effect of exchange rate changes is reported in accumulated other comprehensive income, net of tax. 7 For assets, positive balances represent gains, negative balances represent losses . For liabilities, positive balances represent losses, negative balances represent gains. |
Sensitivity Analysis by Type of Instrument [text block table] | Breakdown of the sensitivity analysis by type of instrument 1 Jun 30, 2018 Dec 31, 2017 in € m. Positive fair value movement from using reasonable possible alternatives Negative fair value movement from using reasonable possible alternatives Positive fair value movement from using reasonable possible alternatives Negative fair value movement from using reasonable possible alternatives Securities: Debt securities 134 80 126 90 Commercial mortgage-backed securities 4 4 6 6 Mortgage and other asset-backed securities 29 27 26 28 Corporate, sovereign and other debt securities 101 49 94 56 Equity securities 71 52 95 67 Derivatives: Credit 149 94 155 125 Equity 212 172 164 138 Interest related 286 153 340 173 Foreign exchange 53 12 65 12 Other 147 106 106 73 Loans: Loans 472 179 504 320 Loan commitments 0 0 0 0 Other 0 0 0 0 Total 1,522 847 1,556 999 1 Where the exposure to an unobservable parameter is offset across different instruments then only the net impact is disclosed in the table. |
Quantitative Information about Fair Value (Level 3) [text block table] | Financial instruments classified in Level 3 and quantitative information about unobservable inputs Jun 30, 2018 Fair value in € m. Assets Liabilities Valuation technique(s) 1 Significant unobservable Range Financial instruments held at fair value – Mortgage- and other asset-backed Commercial mortgage-backed 57 0 Price based Price 0% 101% Discounted cash flow Credit spread (bps) 142 1,712 Mortgage- and other asset-backed 495 0 Price based Price 0% 101% Discounted cash flow Credit spread (bps) 32 1,500 Recovery rate 0% 100% Constant default rate 0% 20% Constant prepayment rate 0% 30% Total mortgage- and other asset-backed 552 0 Debt securities and other debt 3,454 1,196 Price based Price 0% 129% Held for trading 3,042 0 Discounted cash flow Credit spread (bps) 33 334 Corporate, sovereign and other 3,042 Non-trading financial assets mandatory at fair value through profit or loss 335 Designated at fair value through profit or loss 0 1,196 Mandatory at fair value through OCI 76 Equity securities 1,447 121 Market approach Price per net asset value 70% 100% Held for trading 297 121 Enterprise value/EBITDA 6 17 Non-trading financial assets mandatory at fair value through profit or loss 1,150 Discounted cash flow Weighted average cost capital 7% 20% Loans 6,414 0 Price based Price 0% 102% Held for trading 5,067 0 Discounted cash flow Credit spread (bps) 195 575 Non-trading financial assets mandatory at fair value through profit or loss 1,318 Constant default rate – – Designated at fair value through profit or loss 0 0 Recovery rate 40% 40% Mandatory at fair value through OCI 30 Loan commitments 0 0 Discounted cash flow Credit spread (bps) 1 786 Recovery rate 25% 75% Loan pricing model Utilization 0% 100% Other financial instruments 2,186 2 133 3 Discounted cash flow IRR 8 % 46 % Repo rate (bps.) 80 261 Total non-derivative financial 14,053 1,450 1 Valuation technique(s) and subsequently the significant unobservable input(s) relate to the respective total position. 2 Other financial assets include € 69 million of other trading assets , € 2.1 billion of other financial assets mandatory at fair value and € 17 million other financial assets designated at fair value. 3 Other financial liabilities include € 133 million of securities sold under repurchase agreements designated at fair value . Dec 31, 2017 Fair value in € m. Assets Liabilities Valuation technique(s) 1 Significant unobservable Range Financial instruments held at fair value – Mortgage- and other asset-backed Commercial mortgage-backed 79 0 Price based Price 0% 102% Discounted cash flow Credit spread (bps) 136 2,217 Mortgage- and other asset-backed 714 0 Price based Price 0% 102% Discounted cash flow Credit spread (bps) 12 2,000 Recovery rate 0% 90% Constant default rate 0% 25% Constant prepayment rate 0% 29% Total mortgage- and other asset-backed 793 0 Debt securities and other debt 3,870 1,307 Price based Price 0% 176% Held for trading 3,559 2 Discounted cash flow Credit spread (bps) 34 500 Corporate, sovereign and other 3,559 Designated at fair value 44 1,305 Available-for-sale 267 Equity securities 913 0 Market approach Price per net asset value 60% 100% Held for trading 282 0 Enterprise value/EBITDA 1 14 Designated at fair value through profit or loss 151 Discounted cash flow Weighted average cost capital 8% 20% Available-for-sale 480 Loans 7,397 0 Price based Price 0% 161% Held for trading 4,376 0 Discounted cash flow Credit spread (bps) 190 1,578 Designated at fair value through profit or loss 338 0 Constant default rate – – Available-for-sale 2,684 Recovery rate 40% 40% Loan commitments 0 8 Discounted cash flow Credit spread (bps) 5 261 Recovery rate 37% 75% Loan pricing model Utilization 0% 100% Other financial instruments 1,710 2 131 3 Discounted cash flow IRR 1 % 24 % Repo rate (bps.) 224 254 Total non-derivative financial 14,683 1,446 1 Valuation technique(s) and subsequently the significant unobservable input(s) relate to the respective total position. 2 Other financial assets include € 34 million of other trading assets, € 956 million of other financial assets designated at fair value and € 674 million other financial assets available for sale. 3 Other financial liabilities include € 131 million of securities sold under repurchase agreements designated at fair value . . Jun 30, 2018 Fair value in € m. Assets Liabilities Valuation technique(s) Significant unobservable Range Financial instruments held at fair value: Market values from derivative financial Interest rate derivatives 4,368 2,858 Discounted cash flow Swap rate (bps) (64 ) 860 Inflation swap rate 1% 2% Constant default rate 0% 17% Constant prepayment rate 1% 39% Option pricing model Inflation volatility 0% 9% Interest rate volatility 0% 26% IR - IR correlation (25) % 99% Hybrid correlation (85) % 85% Credit derivatives 719 806 Discounted cash flow Credit spread (bps) 0 2,005 Recovery rate 0% 4600% Correlation pricing Credit correlation 36% 70% Equity derivatives 1,099 1,522 Option pricing model Stock volatility 5% 84% Index volatility 12% 63% Index - index correlation 0% 0% Stock - stock correlation 2% 84% Stock Forwards 0% 11% Index Forwards 0% 5% FX derivatives 938 900 Option pricing model Volatility (5) % 25% Other derivatives 1,058 (250 ) 1 Discounted cash flow Credit spread (bps) – – Option pricing model Index volatility 15% 82% Commodity correlation (25) % 86% Total market values from derivative 8,182 5,836 1 Includes derivatives which are embedded in contracts where the host contract is held at amortized cost but for which the embedded derivative is separated. Dec 31, 2017 Fair value in € m. Assets Liabilities Valuation technique(s) Significant unobservable Range Financial instruments held at fair value: Market values from derivative financial Interest rate derivatives 4,466 2,250 Discounted cash flow Swap rate (bps) (72 ) 1,036 Inflation swap rate (3) % 11% Constant default rate 0% 16% Constant prepayment rate 2% 38% Option pricing model Inflation volatility 0% 5% Interest rate volatility 0% 103% IR - IR correlation (25) % 100% Hybrid correlation (85) % 90% Credit derivatives 630 909 Discounted cash flow Credit spread (bps) 0 17,957 Recovery rate 0% 94% Correlation pricing Credit correlation 37% 90% Equity derivatives 728 1,347 Option pricing model Stock volatility 6% 90% Index volatility 7% 53% Index - index correlation – – Stock - stock correlation 2% 93% Stock Forwards 0% 7% Index Forwards 0% 95% FX derivatives 1,113 1,058 Option pricing model Volatility (6) % 31% Other derivatives 402 129 1 Discounted cash flow Credit spread (bps) – – Option pricing model Index volatility 0% 79% Commodity correlation 10% 75% Total market values from derivative 7,340 5,693 1 Includes derivatives which are embedded in contracts where the host contract is held at amortized cost but for which the embedded derivative is separated. |
Unrealized Gains or Losses on Level 3 Instruments Held or in Issue at the Reporting Date [text block table] | Six months ended in € m. Jun 30, 2018 Jun 30, 2017 Financial assets held at fair value: Trading securities 15 44 Positive market values from derivative financial instruments 676 (382 ) Other trading assets 56 (48 ) Non-trading financial assets mandatory at fair value through profit or loss 250 0 Financial assets designated at fair value through profit or loss 0 (42 ) Financial assets mandatory at fair value through OCI 0 N/A Financial assets available for sale N/A 90 Other financial assets at fair value 0 (1 ) Total financial assets held at fair value 997 (339 ) Financial liabilities held at fair value: Trading securities (1 ) 2 Negative market values from derivative financial instruments (603 ) 251 Other trading liabilities 0 0 Financial liabilities designated at fair value through profit or loss 189 (9 ) Other financial liabilities at fair value 205 (143 ) Total financial liabilities held at fair value (209 ) 99 Total 788 (240 ) |
Recognitions of Trade Date Profit [text block table] | in € m. Jun 30, 2018 Jun 30, 2017 Balance, beginning of year 596 916 New trades during the period 128 116 Amortization (87 ) (164 ) Matured trades (70 ) (65 ) Subsequent move to observability (49 ) (69 ) Exchange rate changes 1 0 Balance, end of period 520 734 |
Fair Value of Financial Instr48
Fair Value of Financial Instruments not carried at Fair Value (Tables) | 3 Months Ended |
Jun. 30, 2018 | |
Fair Value of Financial Instruments not carried at Fair Value [Abstract] | |
Estimated Fair Value of the Financial Instruments not carried at Fair Value [text block table] | Estimated fair value of financial instruments not carried at fair value on the balance sheet 1 Jun 30, 2018 Dec 31, 2017 in € m. Carrying value Fair value Carrying value Fair value Financial assets: Cash and central bank balances 208,086 208,086 225,655 225,655 Interbank deposits (w/o central banks) 10,872 10,872 9,265 9,265 Central bank funds sold and securities purchased under resale agreements 7,725 7,727 9,971 9,973 Securities borrowed 916 916 16,732 16,732 Loans 390,965 389,910 401,699 403,842 Securities held to maturity N/A N/A 3,170 3,238 Other financial assets 114,319 114,474 88,936 88,939 Financial liabilities: Deposits 558,486 558,902 581,873 582,006 Central bank funds purchased and securities sold under repurchase 14,310 14,309 18,105 18,103 Securities loaned 6,486 6,486 6,688 6,688 Other short-term borrowings 17,693 17,692 18,411 18,412 Other financial liabilities 134,593 134,593 117,366 117,366 Long-term debt 157,553 156,566 159,715 161,829 Trust preferred securities 3,143 3,265 5,491 5,920 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” of the Group’s Annual Report 2017. |
Financial Assets Available fo49
Financial Assets Available for Sale (Tables) | 6 Months Ended |
Jun. 30, 2017 | |
Financial Assets Available for Sale [Abstract] | |
Financial Assets Available for Sale [text block table] | Financial Assets Available for Sale in € m. Jun 30, 2018 Dec 31, 2017 Debt securities N/A 45,081 Equity securities N/A 994 Other equity interests N/A 636 Loans N/A 2,685 Total financial assets available for sale N/A 49,397 |
Financial Instruments Held to50
Financial Instruments Held to Maturity (Tables) | 3 Months Ended |
Jun. 30, 2018 | |
Financial Instruments Held to Maturity [Abstract] | |
Financial Instruments Held to Maturity [text block table] | Carrying values and fair values of financial assets reclassified from Available for Sale to Held to Maturity Jun 30, 2018 Dec 31, 2017 in € m. Carrying value (CV) Fair Value (FV) Carrying value (CV) Fair Value (FV) Debt securities reclassified: G7 Government bonds N/A N/A 423 434 Other Government, supranational and agency bonds N/A N/A 2,747 2,804 Total financial assets reclassified to Held-to-Maturity N/A N/A 3,170 3,238 |
Offsetting Financial Assets a51
Offsetting Financial Assets and Financial Liabilities (Tables) | 3 Months Ended |
Jun. 30, 2018 | |
Offsetting Financial Assets and Financial Liabilities [Abstract] | |
Offsetting [text block table] | Assets Jun 30, 2018 Amounts not set off on the balance sheet in € m. Gross amounts of financial assets Gross amounts set off on the balance sheet Net amounts of financial assets pre- sented on the balance sheet Impact of Master Netting Agreements Cash collateral Financial instrument collateral 1 Net amount Central bank funds sold and securities purchased 6,372 (606 ) 5,766 0 0 (5,766 ) 0 Central bank funds sold and securities purchased 1,959 0 1,959 0 0 (1,959 ) 0 Securities borrowed (enforceable) 505 0 505 0 0 (498 ) 7 Securities borrowed (non-enforceable) 411 0 411 0 0 (310 ) 101 Financial assets at fair value through profit or loss (enforceable) 456,892 (73,789 ) 383,103 (276,634 ) (38,361 ) (58,618 ) 9,490 Thereof: Positive market values from derivative financial 350,074 (19,224 ) 330,850 (275,587 ) (38,413 ) (7,347 ) 9,503 Financial assets at fair value through profit or loss (non- enforceable) 219,167 0 219,167 0 (2,072 ) (10,408 ) 206,687 Thereof: Positive market values from derivative financial 16,732 0 16,732 0 (2,072 ) (1,358 ) 13,302 Total financial assets at fair value through 676,059 (73,789 ) 602,270 (276,634 ) (40,433 ) (69,025 ) 216,178 Loans 390,965 0 390,965 0 (12,987 ) (42,139 ) 335,839 Other assets 149,129 (18,466 ) 130,663 (32,143 ) (439 ) (84 ) 97,997 Thereof: Positive market values from derivatives 3,379 (527 ) 2,852 (2,288 ) (438 ) (84 ) 42 Remaining assets subject to netting 1,703 0 1,703 0 0 (2,005 ) (302 ) Remaining assets not subject to netting 286,717 0 286,717 0 (272 ) (95 ) 286,350 Total assets 1,513,821 (92,861 ) 1,420,960 (308,777 ) (54,131 ) (121,881 ) 936,171 1 Excludes real estate and other n on -f inancial i nstrument collateral . Liabilities Jun 30, 2018 Amounts not set off on the balance sheet in € m. Gross amounts of financial liabilities Gross amounts set off on the balance sheet Net amounts of financial liabilities pre- sented on the balance sheet Impact of Master Netting Agreements Cash collateral Financial instrument collateral Net amount Deposit 558,486 0 558,486 0 0 0 558,486 Central bank funds purchased and securities sold 13,116 (606 ) 12,510 0 0 (12,510 ) 0 Central bank funds purchased and securities sold 1,800 0 1,800 0 0 (1,500 ) 300 Securities loaned (enforceable) 6,408 0 6,408 0 0 (6,408 ) 0 Securities loaned (non-enforceable) 78 0 78 0 0 (29 ) 49 Financial liabilities at fair value through profit or loss (enforceable) 416,467 (73,209 ) 343,258 (274,537 ) (27,506 ) (27,943 ) 13,272 Thereof: Negative market values from derivative financial instruments (enforceable) 337,659 (19,114 ) 318,545 (276,031 ) (27,973 ) (4,820 ) 9,721 Financial liabilities at fair value through profit or loss (non- enforceable) 91,309 0 91,309 0 (3,936 ) (7,556 ) 79,817 Thereof: Negative market values from derivative financial instruments (non-enforceable) 14,830 0 14,830 0 (1,882 ) (723 ) 12,225 Total financial liabilities at fair value through 507,776 (73,209 ) 434,567 (274,537 ) (31,443 ) (35,500 ) 93,087 Other liabilities 174,141 (19,046 ) 155,095 (42,329 ) (107 ) (122 ) 112,537 Thereof: Negative market values from derivatives 2,655 (562 ) 2,093 (1,844 ) (104 ) (122 ) 23 Remaining liabilities not subject to netting 183,154 0 183,154 0 0 0 183,154 Total liabilities 1,444,960 (92,861 ) 1,352,099 (316,865 ) (31,550 ) (56,069 ) 947,615 Assets Dec 31, 2017 Amounts not set off on the balance sheet in € m. Gross amounts of financial assets Gross amounts set off on the balance sheet Net amounts of financial assets pre- sented on the balance sheet Impact of Master Netting Agreements Cash collateral Financial instrument collateral 1 Net amount Central bank funds sold and securities purchased 8,136 (455 ) 7,681 0 0 (7,675 ) 7 Central bank funds sold and securities purchased 2,290 0 2,290 0 0 (2,239 ) 51 Securities borrowed (enforceable) 14,987 0 14,987 0 0 (14,093 ) 894 Securities borrowed (non-enforceable) 1,744 0 1,744 0 0 (1,661 ) 83 Financial assets at fair value through profit or loss Trading assets 185,127 (465 ) 184,661 0 (81 ) (86 ) 184,495 Positive market values from derivative financial 363,859 (18,237 ) 345,622 (285,421 ) (41,842 ) (7,868 ) 10,490 Positive market values from derivative financial 15,410 0 15,410 0 (1,811 ) (1,276 ) 12,323 Financial assets designated at fair value through 125,869 (64,003 ) 61,865 (728 ) (773 ) (56,410 ) 3,954 Financial assets designated at fair value through 29,411 0 29,411 0 0 (20,534 ) 8,876 Total financial assets at fair value through 719,676 (82,706 ) 636,970 (286,149 ) (44,508 ) (86,174 ) 220,138 Loans 401,699 0 401,699 0 (12,642 ) (40,775 ) 348,282 Other assets 112,023 (10,531 ) 101,491 (29,854 ) (569 ) (94 ) 70,975 Thereof: Positive market values from derivatives 3,859 (706 ) 3,153 (2,461 ) (565 ) (94 ) 33 Remaining assets not subject to netting 307,869 0 307,869 0 (390 ) (70 ) 307,409 Total assets 1,568,425 (93,692 ) 1,474,732 (316,003 ) (58,109 ) (152,782 ) 947,839 1 Excludes real estate and other n on -f inancial i nstrument collateral . Liabilities Dec 31, 2017 Amounts not set off on the balance sheet in € m. Gross amounts of financial liabilities Gross amounts set off on the balance sheet Net amounts of financial liabilities pre- sented on the balance sheet Impact of Master Netting Agreements Cash collateral Financial instrument collateral Net amount Deposit 581,873 0 581,873 0 0 0 581,873 Central bank funds purchased and securities sold 13,318 (455 ) 12,863 0 0 (12,863 ) 0 Central bank funds purchased and securities sold 5,242 0 5,242 0 0 (4,985 ) 257 Securities loaned (enforceable) 6,688 0 6,688 0 0 (6,688 ) 0 Securities loaned (non-enforceable) 0 0 0 0 0 0 0 Financial liabilities at fair value through profit or loss Trading liabilities 72,106 (643 ) 71,462 0 0 0 71,462 Negative market values from derivative financial instruments (enforceable) 347,496 (17,928 ) 329,568 (286,720 ) (25,480 ) (6,124 ) 11,244 Negative market values from derivative financial instruments (non-enforceable) 13,158 0 13,158 0 (1,913 ) (615 ) 10,630 Financial liabilities designated at fair value 104,594 (63,360 ) 41,234 (728 ) 0 (40,506 ) 0 Financial liabilities designated at fair value 23,214 0 23,214 0 1,111 (13,646 ) 10,679 Total financial liabilities at fair value through 560,568 (81,932 ) 478,636 (287,448 ) (26,282 ) (60,891 ) 104,015 Other liabilities 143,514 (11,306 ) 132,208 (44,815 ) (31 ) (87 ) 87,275 Thereof: Negative market values from derivatives 1,841 (547 ) 1,294 (1,162 ) (31 ) (87 ) 15 Remaining liabilities not subject to netting 190,183 0 189,122 0 0 0 189,122 Total liabilities 1,500,326 (93,692 ) 1,406,633 (332,263 ) (26,314 ) (85,514 ) 962,542 |
Allowance for Credit Losses (Ta
Allowance for Credit Losses (Tables) | 3 Months Ended |
Jun. 30, 2018 | |
Allowance for Credit Losses [Abstract] | |
Development of allowance for credit losses [text block table] | Development of allowance for credit losses for Financial Assets at Amortized Cost Jun 30, 2018 Allowance for Credit Losses³ in € m. Stage 1 Stage 2 Stage 3 Stage 3 POCI Total Balance, beginning of year (462 ) (494 ) (3,638 ) (3 ) (4,596 ) Movements in financial assets including new business 88 (152 ) (126 ) 2 (188 ) Transfers due to changes in creditworthiness (110 ) 122 (12 ) 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 0 362 0 362 Recovery of written off amounts 0 0 (110 ) 0 (110 ) Foreign exchange and other changes 24 19 29 (8 ) 64 Balance, end of reporting period (460 ) (504 ) (3,495 ) (9 ) (4,468 ) Provision for Credit Losses excluding country risk¹ (22 ) (30 ) (138 ) 2 (188 ) 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 This position represents charge offs of allowance for credit losses. 3 Allowance for credit losses does not include allowance for country risk amounting to € 5 million as of June 30, 2018. |
Allowance for Off-Balance Sheet Positions [text block table] | Development of allowance for credit losses for Off-balance Sheet Positions Jun 30, 2018 Allowance for Credit Losses² in € m. Stage 1 Stage 2 Stage 3 Stage 3 POCI Total Balance, beginning of year (117 ) (36 ) (119 ) 0 (272 ) Movements including new business 16 (11 ) (2 ) 0 4 Transfers due to changes in creditworthiness (9 ) 9 0 N/M 0 Changes in models 0 0 0 0 0 Foreign exchange and other changes (11 ) (12 ) (16 ) 0 (39 ) Balance, end of reporting period (121 ) (49 ) (136 ) 0 (307 ) Provision for Credit Losses excluding country risk¹ 7 (1 ) (2 ) 0 4 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 as of June 30, 2018. |
Allowance for Credit Losses [text block table] | Allowance for Credit Losses under IAS 39 Six months ended Jun 30, 2017 Allowance for Loan Losses Allowance for Off-Balance Sheet Positions in € m. Individually assessed Collectively assessed Subtotal Individually assessed Collectively assessed Subtotal Total Balance, beginning of year 2,071 2,475 4,546 162 183 346 4,892 Provision for credit losses 109 101 211 9 (8 ) 1 212 Thereof: (Gains)/Losses from (1 ) (20 ) (21 ) 0 0 0 (21 ) Net charge-offs: (264 ) (430 ) (694 ) 0 0 0 (694 ) Charge-offs (286 ) (462 ) (748 ) 0 0 0 (748 ) Recoveries 22 32 54 0 0 0 54 Other changes (78 ) (31 ) (109 ) (2 ) (10 ) (12 ) (122 ) Balance, end of period 1,838 2,115 3,953 169 166 335 4,288 Changes compared to prior year Provision for credit losses In € m. (197 ) (171 ) (368 ) 27 (10 ) 16 (352 ) In % (64) % (63) % (64) % (150) % (360) % (110) % (62) % Net charge-offs In € m. 192 167 359 0 0 0 359 In % (42) % (28) % (34) % 0 % 0 % 0 % (34) % |
Goodwill and Other Intangible53
Goodwill and Other Intangible Assets (Tables) | 3 Months Ended |
Jun. 30, 2018 | |
Goodwill and Other Intangible Assets [Abstract] | |
Changes in Goodwill [text block table] | Goodwill allocated to cash-generating units in € m. Sales & Trading Global Transaction Banking, Global Capital Markets & Corporate Finance Private and Commercial Clients Wealth Manage- ment Postbank Asset Manage- ment Others Total Balance as of January 1, 2017 0 0 0 0 0 0 0 0 Goodwill acquired during the year 0 0 0 0 0 0 0 0 Purchase accounting adjustments 0 0 0 0 0 0 0 0 Transfers 0 0 0 0 0 0 0 0 Reclassification from (to) “held for sale” 0 0 0 0 0 0 0 0 Goodwill related to dispositions without 0 0 0 0 0 0 0 0 Impairment losses 0 0 0 0 0 0 0 0 Exchange rate changes/other 0 0 0 0 0 0 0 0 Balance as of December 31, 2017 0 0 0 0 0 0 0 0 Gross amount of goodwill 0 0 0 0 0 0 0 0 Accumulated impairment losses 0 0 0 0 0 0 0 0 Balance as of January 1, 2018 0 0 0 0 0 0 0 0 Goodwill acquired during the year 0 0 0 0 0 0 0 0 Purchase accounting adjustments 0 0 0 0 0 0 0 0 Transfers 0 0 0 0 0 0 0 0 Reclassification from (to) “held for sale” 0 0 0 0 0 0 0 0 Goodwill related to dispositions 0 0 0 0 0 0 0 0 Impairment losses 2 0 0 0 0 0 0 0 0 Exchange rate changes/other 0 0 0 0 0 0 0 0 Balance as of Jun 30, 2018 0 0 0 0 0 0 0 0 Gross amount of goodwill 0 0 0 0 0 0 0 0 Accumulated impairment losses 0 0 0 0 0 0 0 0 1 Includes primary CGUs NCOU Wholesale Assets and NCOU Operating Assets. 2 Impairment losses of goodwill are recorded as impairment of goodwill and other intangible assets in the income statement. |
Other Assets and Other Liabil54
Other Assets and Other Liabilities (Tables) | 6 Months Ended |
Jun. 30, 2016 | |
Other Assets and Other Liabilities [Abstract] | |
Other Assets and Other Liabilities [text block table] | Other Assets and Other Liabilities Other Assets in € m. Jun 30, 2018 Dec 31, 2017 Brokerage and securities related receivables Cash/margin receivables 48,476 46,519 Receivables from prime brokerage 1 1 12,638 Pending securities transactions past settlement date 3,388 3,929 Receivables from unsettled regular way trades 50,413 19,930 Total brokerage and securities related receivables 102,278 83,015 Debt Securities held to collect 6,245 N/A Accrued interest receivable 2,572 2,374 Assets held for sale 2,641 45 Other 16,926 16,057 Total other assets 130,663 101,491 Other Liabilities in € m. Jun 30, 2018 Dec 31, 2017 Brokerage and securities related payables Cash/margin payables 56,112 58,865 Payables from prime brokerage 21,548 25,042 Pending securities transactions past settlement date 2,054 2,562 Payables from unsettled regular way trades 45,380 20,274 Total brokerage and securities related payables 125,094 106,742 Accrued interest payable 2,257 2,623 Liabilities held for sale 2,691 16 Other 25,053 22,827 Total other liabilities 155,095 132,208 1 Receivables from prime brokerage are reported within non-trading assets mandatory at fair value through profit and loss from January 2018 onwards. |
Deposits (Tables)
Deposits (Tables) | 3 Months Ended |
Jun. 30, 2018 | |
Deposits [Abstract] | |
Components of Deposits [text block table] | in € m. Jun 30, 2018 Dec 31, 2017 Noninterest-bearing demand deposits 221,079 226,339 Interest-bearing deposits Demand deposits 121,251 133,280 Time deposits 129,331 133,952 Savings deposits 86,826 88,303 Total interest-bearing deposits 337,407 355,534 Total deposits 558,486 581,873 |
Provisions (Tables)
Provisions (Tables) | 3 Months Ended |
Jun. 30, 2018 | |
Provisions [Abstract] | |
Movements by Class of Provision [text block table] | Movements by Class of Provisions in € m. Operational Risk Civil Litigations Regulatory Enforcement Re- structuring Mortgage Repurchase Demands Other Total 1 Balance as of January 1, 2018 275 1,115 897 696 73 815 3,871 Changes in the group of 0 0 0 0 0 0 0 New provisions 12 137 129 149 0 709 1,136 Amounts used 38 392 287 180 0 690 1,587 Unused amounts reversed 27 91 139 67 10 108 442 Effects from exchange rate 3 15 24 0 2 (5 ) 39 Transfers 5 27 3 (3 ) 0 (14 ) 18 Balance as of June 30, 2018 230 812 627 595 66 706 3,036 1 For the remaining portion of provisions as disclosed on the consolidated balance sheet, please see Note “Allowance for Credit Losses”, in which allowances for credit related off-balance sheet positions are disclosed. |
Credit related Commitments an57
Credit related Commitments and Contingent Liabilities (Tables) | 3 Months Ended |
Jun. 30, 2018 | |
Credit related Commitments and Contingent Liabilities [Abstract] | |
Commitments and Contingent Liabilities [text block table] | in € m. Jun 30, 2018 Dec 31, 2017 Irrevocable lending commitments 166,934 158,253 Revocable lending commitments 44,459 45,867 Contingent liabilities 47,762 48,212 Total 259,155 252,331 |
Other Commitments and Contingent Liabilities [text block table] | in € m. Jun 30, 2018 Dec 31, 2017 Other commitments 98 82 Other contingent liabilities 2 5 Total 101 86 |
Discount rate to determine defi
Discount rate to determine defined benefit obligation (Tables) | 3 Months Ended |
Jun. 30, 2018 | |
Discount rate to determine defined benefit obligation [Abstract] | |
Discount rate to determine defined benefit obligation [text block table] | Discount rate to determine defined benefit obligation Jun 30, 2018 Dec 31, 2017 Germany 1.70% 1.70% UK 2.60% 2.50% U.S. 4.10% 3.50% |
Related Party Transactions (Tab
Related Party Transactions (Tables) | 3 Months Ended |
Jun. 30, 2018 | |
Related Party Transactions [Abstract] | |
Loans Issued and Guarantees Granted (Transactions with Subsidiaries, Joint Ventures and Associates) [text block table] | Loans issued and guarantees granted in € m. Jun 30, 2018 Dec 31, 2017 Loans outstanding, beginning of period 256 297 Movement in loans during the period1 (12 ) (26 ) Changes in the group of consolidated companies 0 (1 ) Exchange rate changes/other (4 ) (15 ) Loans outstanding, end of period2 240 256 Other credit risk related transactions: Allowance for loan losses 0 0 Provision for loan losses 0 0 Guarantees and commitments 4 9 1 Net impact of loans issued and loans repayment during the year is shown as “Movement in loans during the period”. 2 There were no past due loans as of June 30, 2018 and December 31, 201 7 . For the above loans, the Group held collateral of € 14 million and € 14 million as of June 30, 2018 and December 31, 2017, respectively. |
Deposits Received (Transactions with Subsidiaries, Joint Ventures and Associates) [text block table] | Deposits received in € m. Jun 30, 2018 Dec 31, 2017 Deposits, beginning of period 67 87 Movement in deposits during the period 1 (11 ) (15 ) Changes in the group of consolidated companies 0 0 Exchange rate changes/other 0 (4 ) Deposits, end of period 55 67 1 N et impact of deposits received and deposits repaid during the year is shown as “Movement in deposits during the period”. |
Segment Results of Operations (
Segment Results of Operations (Tables) | 3 Months Ended |
Jun. 30, 2018 | |
Segment Results of Operations [Abstract] | |
Segment Results of Operations [text block table] | Segment Results of Operations The following tables present the results of the business segments, including the reconciliation to the consolidated results under IFRS, for the three and six months ended June 30, 201 8 and June 30, 201 7 . See the “Segment Information” note to the consolidated financial statements for information regarding changes in the presentation of our segment disclosure. Three months ended Jun 30, 2018 in € m. Corporate & Investment Bank Private & Commercial Bank Asset Management Corporate & Other Total Consolidated Net revenues 3,579 2,542 561 (91 ) 6,590 Provision for credit losses 11 86 (1 ) (2 ) 95 Noninterest expenses: Compensation and benefits 1,059 1,000 194 798 3,050 General and administrative expenses 1,848 1,184 240 (721 ) 2,552 Impairment of goodwill and other intangible assets 0 0 0 0 0 Restructuring activities 165 11 7 (0 ) 182 Total noninterest expenses 3,071 2,194 441 77 5,784 Noncontrolling interests 21 0 26 (48 ) 0 Income (loss) before income taxes 475 262 93 (119 ) 711 Cost/income ratio (in %) 86% 86% 79% 0% 88% Assets 1,076,696 337,744 9,937 N/M 1,420,960 Risk-weighted assets (CRD 4 - fully loaded) 235,060 88,031 9,498 15,730 348,319 CRD 4 leverage exposure 963,038 348,542 4,767 7,816 1,324,163 Average shareholders’ equity 43,600 14,041 4,595 0 62,236 Average tangible shareholders' equity 40,603 11,991 1,492 0 54,086 Post-tax return on average tangible shareholders’ equity (in %) 1 3.40% 6.30% 18.00% N/M 2.70% Post-tax return on average shareholders’ equity (in %) 1 3.10% 5.40% 5.90% N/M 2.30% N/M – Not meaningful 1 The post-tax return on average tangible shareholders’ equity and average shareholders’ equity at the Group level reflects the reported effective tax rate for the Group, which was 44 %. For the post-tax return on average tangible shareholders’ equity and average shareholders’ equity of the segments, the applied tax rate was 28 % . Three months ended Jun 30, 2017 in € m. Corporate & Investment Bank Private & Commercial Bank Asset Management Corporate & Other Total Consolidated Net revenues 3,618 2,559 676 (237 ) 6,616 Provision for credit losses 56 22 (0 ) 1 79 Noninterest expenses: Compensation and benefits 973 989 202 757 2,921 General and administrative expenses 1,887 1,214 234 (611 ) 2,724 Impairment of goodwill and other intangible assets 6 0 0 0 6 Restructuring activities 66 (4 ) 2 (0 ) 64 Total noninterest expenses 2,933 2,199 438 145 5,715 Noncontrolling interests 19 (1 ) 1 (19 ) 0 Income (loss) before income taxes 611 338 238 (364 ) 822 Cost/income ratio (in %) 81% 86% 65% 0% 86% Assets 1,210,220 332,531 11,509 14,473 1,568,734 Risk-weighted assets (CRD 4 - fully loaded) 241,915 88,534 9,018 15,221 354,688 CRD 4 leverage exposure 1,078,567 345,998 3,268 14,610 1,442,443 Average shareholders’ equity 44,991 15,323 4,698 0 65,013 Average tangible shareholders' equity 41,962 13,196 924 0 56,082 Post-tax return on average tangible shareholders’ equity (in %) 1 3.90% 6.90% 68.9% N/M 3.20% Post-tax return on average shareholders’ equity (in %) 1 3.60% 5.90% 13.50% N/M 2.70% N/M – Not meaningful 1 The post-tax return on average tangible shareholders’ equity and average shareholders’ equity at the Group level reflects the reported effective tax rate for the Group, which was 43 %. For the post-tax return on average tangible shareholders’ equity and average shareholders’ equity of the segments, the applied tax rate was 33 % . Six months ended Jun 30, 2018 in € m. Corporate & Investment Bank Private & Commercial Bank Asset Management Corporate & Other Total Consolidated Net revenues 7,424 5,182 1,106 (145 ) 13,567 Provision for credit losses 8 174 (0 ) 0 183 Noninterest expenses: Compensation and benefits 2,121 1,977 388 1,566 6,052 General and administrative expenses 4,415 2,450 517 (1,375 ) 6,008 Impairment of goodwill and other intangible assets 0 0 0 0 0 Restructuring activities 178 (7 ) 9 (0 ) 181 Total noninterest expenses 6,715 4,421 914 191 12,241 Noncontrolling interests 24 0 26 (51 ) 0 Income (loss) before income taxes 678 586 165 (286 ) 1,143 Cost/income ratio (in %) 90% 85% 83% 0% 90% Assets 1,076,696 337,744 9,937 N/M 1,420,960 Risk-weighted assets (CRD 4 - fully loaded) 235,060 88,031 9,498 15,730 348,319 CRD 4 leverage exposure 963,038 348,542 4,767 7,816 1,324,163 Average shareholders’ equity 43,650 14,248 4,606 0 62,504 Average tangible shareholders' equity 40,665 12,151 1,258 0 54,074 Post-tax return on average tangible shareholders’ equity (in %) 1 2.40% 7.00% 18.90% N/M 1.80% Post-tax return on average shareholders’ equity (in %) 1 2.20% 5.90% 5.20% N/M 1.50% N/M – Not meaningful 1 The post-tax return on average tangible shareholders’ equity and average shareholders’ equity at the Group level reflects the reported effective tax rate for the Group, which was 54 %. For the post-tax return on average tangible shareholders’ equity and average shareholders’ equity of the segments, the applied tax rate was 28 % . Six months ended Jun 30, 2017 in € m. Corporate & Investment Bank Private & Commercial Bank Asset Management Corporate & Other Total Consolidated Net revenues 8,026 5,263 1,283 (610 ) 13,962 Provision for credit losses 113 100 (0 ) (0 ) 212 Noninterest expenses: Compensation and benefits 2,109 1,994 400 1,565 6,068 General and administrative expenses 4,289 2,454 455 (1,274 ) 5,924 Impairment of goodwill and other intangible assets 6 0 0 0 6 Restructuring activities 99 (52 ) 4 (0 ) 50 Total noninterest expenses 6,502 4,396 860 291 12,049 Noncontrolling interests 23 (1 ) 1 (23 ) 0 Income (loss) before income taxes 1,388 768 422 (878 ) 1,701 Cost/income ratio (in %) 81% 84% 67% 0% 86% Assets 1,210,220 332,531 11,509 14,473 1,568,734 Risk-weighted assets (CRD 4 - fully loaded) 241,915 88,534 9,018 15,221 354,688 CRD 4 leverage exposure 1,078,567 345,998 3,268 14,610 1,442,443 Average shareholders’ equity 42,979 14,915 4,695 184 62,773 Average tangible shareholders' equity 40,005 12,873 768 182 53,828 Post-tax return on average tangible shareholders’ equity (in %) 1 4.70% 8.00% 73.70% N/M 3.80% Post-tax return on average shareholders’ equity (in %) 1 4.30% 6.90% 12.10% N/M 3.20% N/M – Not meaningful 1 The post-tax return on average tangible shareholders’ equity and average shareholders’ equity at the Group level reflects the reported effective tax rate for the Group, which was 39 %. For the post-tax return on average tangible shareholders’ equity and average shareholders’ equity of the segments, the applied tax rate was 33 % . |
Segment Results of Operations, Corporate & Investment Bank [text block table] | Corporate & Investment Bank (CIB) Three months ended Six months ended in € m. Jun 30, 2018 Jun 30, 2017 Absolute Change Change in % Jun 30, 2018 Jun 30, 2017 Absolute Change Change in % Net revenues: Global Transaction Banking 1,008 967 41 4 1,926 2,009 (83 ) (4 ) Equity Origination 108 115 (7 ) (6 ) 183 268 (84 ) (32 ) Debt Origination 316 311 5 2 633 702 (70 ) (10 ) Advisory 153 137 16 12 241 250 (9 ) (4 ) Origination and Advisory 577 563 14 2 1,057 1,220 (163 ) (13 ) Sales & Trading (Equity) 540 577 (37 ) (6 ) 1,111 1,311 (199 ) (15 ) Sales & Trading (FIC) 1,372 1,646 (274 ) (17 ) 3,255 3,870 (615 ) (16 ) Sales & Trading 1,912 2,224 (311 ) (14 ) 4,366 5,180 (814 ) (16 ) Other 81 (136 ) 217 N/M 76 (383 ) 459 N/M Total net revenues 3,579 3,618 (39 ) (1 ) 7,424 8,026 (602 ) (7 ) Provision for credit losses 11 56 (45 ) (80 ) 8 113 (105 ) (93 ) Noninterest expenses: Compensation and benefits 1,059 973 86 9 2,121 2,109 12 1 General and administrative expenses 1,848 1,887 (39 ) (2 ) 4,415 4,289 127 3 Impairment of goodwill and other intangible assets 0 6 (6 ) N/M 0 6 (6 ) N/M Restructuring activities 165 66 98 148 178 99 79 80 Total noninterest expenses 3,071 2,933 139 5 6,715 6,502 212 3 Noncontrolling interests 21 19 3 14 24 23 2 7 Income (loss) before income taxes 475 611 (136 ) (22 ) 678 1,388 (711 ) (51 ) N/M – Not meaningful |
Segment Results of Operations, Private & Commercial Bank [text block table] | Private & Commercial Bank (PCB) Three months ended Six months ended in € m. Jun 30, 2018 Jun 30, 2017 Absolute Change Change in % Jun 30, 2018 Jun 30, 2017 Absolute Change Change in % Net revenues: Private and Commercial Business (Germany) 1,635 1,573 61 4 3,471 3,209 262 8 Private and Commercial Business (International) 1 376 395 (19 ) (5 ) 749 767 (18 ) (2 ) Wealth Management (Global) 470 523 (53 ) (10 ) 896 1,139 (243 ) (21 ) Exited businesses 2 62 67 (6 ) (8 ) 66 148 (82 ) (55 ) Total net revenues 2,542 2,559 (16 ) (1 ) 5,182 5,263 (81 ) (2 ) thereof: Net interest income 1,516 1,536 (20 ) (1 ) 3,001 2,924 77 3 Commissions and fee income 793 852 (58 ) (7 ) 1,661 1,775 (114 ) (6 ) Remaining income 233 171 62 36 520 563 (44 ) (8 ) Provision for credit losses 86 22 64 N/M 174 100 74 74 Noninterest expenses: Compensation and benefits 1,000 989 11 1 1,977 1,994 (17 ) (1 ) General and administrative expenses 1,184 1,214 (30 ) (2 ) 2,450 2,454 (4 ) 0 Impairment of goodwill and other intangible assets 0 0 0 N/M 0 0 0 N/M Restructuring activities 11 (4 ) 14 N/M (7 ) (52 ) 46 (87 ) Total noninterest expenses 2,194 2,199 (4 ) 0 4,421 4,396 25 1 Noncontrolling interests 0 (1 ) 1 N/M 0 (1 ) 1 N/M Income (loss) before income taxes 262 338 (76 ) (23 ) 586 768 (182 ) (24 ) N/M – Not meaningful 1 C overs operations in Belgium , India, Italy and Spain . 2 Covers operations in Poland and Portugal as well as Private Client Services (PCS) and Hua Xia in historical periods. |
Segment Results of Operations, Deutsche Asset Management [text block table] | Asset Management Three months ended Six months ended in € m. Jun 30, 2018 Jun 30, 2017 Absolute Change Change in % Jun 30, 2018 Jun 30, 2017 Absolute Change Change in % Net revenues: Management Fees 530 575 (45 ) (8 ) 1,062 1,139 (78 ) (7 ) Performance and transaction fees 29 86 (57 ) (66 ) 47 105 (58 ) (55 ) Other revenues 1 15 (14 ) (95 ) (3 ) 38 (42 ) N/M Total net revenues 561 676 (116 ) (17 ) 1,106 1,283 (177 ) (14 ) Provision for credit losses (1 ) 0 0 42 0 0 0 (64 ) Total noninterest expenses: Compensation and benefits 194 202 (8 ) (4 ) 388 400 (12 ) (3 ) General and administrative expenses 240 234 7 3 517 455 61 13 Impairment of goodwill and other intangible assets 0 0 0 N/M 0 0 0 N/M Restructuring activities 7 2 5 N/M 9 4 5 133 Total noninterest expenses 441 438 3 1 914 860 55 6 Noncontrolling interests 26 1 25 N/M 26 1 25 N/M Income (loss) before income taxes 93 238 (144 ) (61 ) 165 422 (257 ) (61 ) N/M – Not meaningful |
Segment Results of Operations, Corporate & Other [text block table] | Co rporate & Other (C& O ) Three months ended Six months ended in € m. Jun 30, 2018 Jun 30, 2017 Absolute Change Change in % Jun 30, 2018 Jun 30, 2017 Absolute Change Change in % Net revenues (91 ) (237 ) 146 (62 ) (145 ) (610 ) 465 (76 ) Provision for credit losses (2 ) 1 (2 ) N/M 0 0 1 N/M Noninterest expenses: Compensation and benefits 798 757 41 5 1,566 1,565 0 0 General and administrative expenses (721 ) (611 ) (110 ) 18 (1,375 ) (1,274 ) (101 ) 8 Impairment of goodwill and other intangible assets 0 0 0 N/M 0 0 0 N/M Restructuring activities 0 0 0 (100 ) 0 0 0 N/M Total noninterest expenses 77 145 (69 ) (47 ) 191 291 (100 ) (34 ) Noncontrolling interests (48 ) (19 ) (29 ) 153 (51 ) (23 ) (28 ) 121 Income (loss) before income taxes (119 ) (364 ) 246 (67 ) (286 ) (878 ) 593 (67 ) N/M – Not meaningful |
Deutsche Banks Ownership Inte61
Deutsche Banks Ownership Interest following Initial Public Offering of DWS shares (Tables) | 3 Months Ended |
Jun. 30, 2018 | |
Deutsche Banks Ownership Interest following Initial Public Offering of DWS shares [Abstract] | |
Deutsche Banks Ownership Interest following Initial Public Offering of DWS shares [text block table] | in € m. 2018 Deutsche Bank’s ownership interest at the time of the IPO 5,991 Net decrease in Deutsche Bank’s ownership interest (1,229 ) Deutsche Bank’s share of net income or loss 85 Deutsche Bank’s share of other comprehensive income 120 Deutsche Bank’s share of other equity changes 30 Deutsche Bank’s ownership interest in DWS at the end of the reporting period 4,997 Excess amount from the IPO 74 Total effect on shareholders' equity from a change in Deutsche Bank's ownership interest in DWS, at the end of the reporting period 5,071 |
Pensions and Other Post-Emplo62
Pensions and Other Post-Employment Benefits (Tables) | 3 Months Ended |
Jun. 30, 2018 | |
Pensions and Other Post-Employment Benefits [Abstract] | |
Pensions and Other Post-Employment Benefits [text block table] | Three months ended Six months ended in € m. Jun 30, 2018 Jun 30, 2017 Jun 30, 2018 Jun 30, 2017 Service cost 90 85 124 171 Net interest cost (income) 1 3 2 5 Total expenses defined benefit plans 91 88 126 176 Total expenses for defined contribution plans 106 99 224 231 Total expenses for post-employment benefits 198 187 350 407 Employer contributions to mandatory German social security pension plan 65 59 119 122 |
Financial assets mandatory at63
Financial assets mandatory at fair value through other comprehensive income (Tables) | 6 Months Ended |
Jun. 30, 2017 | |
Financial assets mandatory at fair value through other comprehensive income [Abstract] | |
Financial assets mandatory at fair value through other comprehensive income [text block table] | in € m. Jun 30, 2018 Dec 31, 2017 Securities purchased under resale agreement 1,703 N/A Debt securities 42,298 N/A Loans 4,811 N/A Total financial assets mandatory at fair value through other comprehensive income 48,812 N/A |
Long-Term Debt (Tables)
Long-Term Debt (Tables) | 3 Months Ended |
Jun. 30, 2018 | |
Long-Term Debt and Trust Preferred Securities [Abstract] | |
Long-Term Debt [text block table] | in € m. Jun 30, 2018 Dec 31, 2017 Senior debt: Bonds and notes Fixed rate 79,101 76,285 Floating rate 31,356 33,210 Subordinated debt: Bonds and notes Fixed rate 5,216 5,493 Floating rate 1,482 1,738 Other 40,398 42,988 Total long-term debt 157,553 159,715 |
Shares Issued and Outstanding (
Shares Issued and Outstanding (Tables) | 3 Months Ended |
Jun. 30, 2018 | |
Shares Issued and Outstanding [Abstract] | |
Shares Issued and Outstanding [text block table] | in million Jun 30, 2018 Dec 31, 2017 Shares issued 2,066.8 2,066.8 Shares in treasury 6.9 0.4 Thereof: Buyback 6.8 0.2 Other 0.1 0.2 Shares outstanding 2,059.9 2,066.4 |
Key Ratios (Tables)
Key Ratios (Tables) | 3 Months Ended |
Jun. 30, 2018 | |
Key Ratios [Abstract] | |
Key Ratios [text block table] | Key Ratios Key Ratios IAS 39 as of Dec 31, 2017 IFRS 9 as of Jan 1, 2018 1 CET 1 ratio fully loaded 14.0 % 13.9 % Leverage Ratio fully loaded 3.8 % 3.8 % Leverage Ratio phase-in 4.1 % 4.1 % 1 Pro forma . |
Impact on Regulatory Capital RW
Impact on Regulatory Capital RWA and Leverage Exposure 1 (Tables) | 3 Months Ended |
Jun. 30, 2018 | |
Impact on Regulatory Capital, RWA, and Leverage Exposure 1 [Abstract] | |
Impact on Regulatory Capital, RWA, and Leverage Exposure 1 Fully loaded [text block table] | Fully loaded in € m. Total shareholders’ equity per accounting balance sheet Common Equity Tier 1 capital Tier 1 Capital Balance as of Dec 31, 2017 63,174 48,300 52,921 IFRS 9 changes from (870 ) (870 ) (870 ) Classification and Measurement (193 ) (193 ) (193 ) Impairments (677 ) (677 ) (677 ) Tax effects from 199 199 199 Classification and Measurement 65 65 65 Impairments 134 134 134 IFRS 9 impact net of tax (671 ) (671 ) (671 ) Changes to regulatory deductions Negative amounts resulting from the calculation of expected loss amounts 278 278 Balance as of Jan 1, 2018 1 62,503 47,907 52,528 1 Pro forma . |
Impact on Regulatory Capital, RWA, and Leverage Exposure 1 Transitional rules [text block table] | Transitional rules in € m. Total shareholders’ equity per accounting balance sheet Common Equity Tier 1 capital Tier 1 Capital Balance as of Dec 31, 2017 63,174 50,808 57,631 IFRS 9 changes from (870 ) (870 ) (870 ) Classification and Measurement (193 ) (193 ) (193 ) Impairments (677 ) (677 ) (677 ) Tax effects from 199 199 199 Classification and Measurement 65 65 65 Impairments 134 134 134 IFRS 9 impact net of tax (671 ) (671 ) (671 ) Changes to regulatory deductions Negative amounts resulting from the calculation of expected loss amounts 223 278 Balance as of Jan 1, 2018 1 62,503 50,359 2 57,238 1 Pro forma . 2 Pro forma view considering 80 % phase-in according to CRR transitional rules . |
Impact on Regulatory Capital 68
Impact on Regulatory Capital RWA and Leverage Exposure 2 (Tables) | 3 Months Ended |
Jun. 30, 2018 | |
Impact on Regulatory Capital, RWA, and Leverage Exposure 2 [Abstract] | |
Impact on Regulatory Capital, RWA, and Leverage Exposure 2 Fully loaded [text block table] | in € bn Risk Weighted Assets Leverage Exposure Balance as of Dec 31, 2017 344 1,395 Changes from 0 (0 ) DTA RWA / Change of Total Assets 1 (1 ) SA RWA/ Lower Deductions (0 ) 0 Balance as of Jan 1, 2018 1 345 1,395 Ratios as of Dec 31, 2017 14.00% 3.80% Ratios as of Jan 1, 2018 1 13.90% 3.80% Change in bps (13 ) (3 ) 1 Pro forma . |
Impact on Regulatory Capital, RWA, and Leverage Exposure 2 Transitional rules [text block table] | in € bn Risk Weighted Assets Leverage Exposure Balance as of Dec 31, 2017 343 1,396 Changes from 0 0 DTA RWA / Change of Total Assets 1 0 SA RWA/ Lower Deductions (0 ) 0 Balance as of Jan 1, 2018 1 344 1,396 Ratios as of Dec 31, 2017 14.80% 4.10% Ratios as of Jan 1, 2018 1 14.60% 4.10% Change in bps (15 ) (3 ) 1 Pro forma . |
Classification and Measurement
Classification and Measurement (Tables) | 3 Months Ended |
Jun. 30, 2018 | |
Classification and Measurement [Abstract] | |
Classification and Measurement [text block table] | The following table provides an overview of the impact of the changes to total assets under classification and measurement, excluding allowances for On- and Off-Balance Sheet positions, affected by IFRS 9. in € m. IAS 39 carrying amount Dec 31, 2017 (i) Reclassifications (ii) Remeasurements (iii) IFRS 9 carrying amount Jan 1, 2018 (iv=i+ii+iii) Fair Value through Profit or Loss From Available for Sale (IAS 39) - 2,535 (3 ) - From Amortized Cost (IAS 39) - 41,914 (3 ) - To Amortised Cost (IFRS 9) - (5,900 ) - - To Fair Value through Other Comprehensive Income (IFRS 9) - (6,508 ) - - Total Fair Value through Profit or Loss 636,970 32,041 (6 ) 669,004 Fair Value through Other Comprehensive Income From Available for Sale (IAS 39) - 41,219 (104 ) - From Amortized Cost (IAS 39) - 9,943 64 - From Fair Value through Profit or Loss (IAS 39) - 6,508 - - To Amortised Cost (IFRS 9) - - - - To Fair Value through Profit or Loss (IFRS 9) - - - - Total Fair Value through Other Comprehensive Income - 57,671 (40 ) 57,631 Amortised Cost From Amortized Cost (IAS 39) - - - - From Available for Sale (IAS 39) - 5,642 24 - From Fair Value through Profit or Loss (IAS 39) - 5,900 (184 ) - To Fair Value through Other Comprehensive Income (IFRS 9) - (6,773 ) - - To Fair Value through Profit or Loss (IFRS 9) - (41,914 ) - - Total Amortised Cost 780,721 (37,145 ) (159 ) 743,417 Tax Assets 8,396 - 230 8,626 Available for Sale (IAS 39) 49,397 (49,397 ) - - Held to Maturity (IAS 39) 3,170 (3,170 ) - - Total Financial Asset balances affected by IFRS 9, Reclassifications and 1,478,654 0 24 1,478,678 |
Impairment (Tables)
Impairment (Tables) | 3 Months Ended |
Jun. 30, 2018 | |
Impairment [Abstract] | |
Impairment [text block table] | The following table provides an overview of the impact of the changes to allowances for On- and Off-Balance S heet positions affected by IFRS 9. |
DBs Ownership Interest followin
DBs Ownership Interest following Initial Public Offering of DWS Shares (Detail) € in Millions | Jun. 30, 2018EUR (€) |
DBs Ownership Interest following Initial Public Offering of DWS Shares [Abstract] | |
Deutsche Banks ownership interest at the time of the IPO | € 5,991 |
Net decrease in Deutsche Banks ownership interests | (1,229) |
Deutsche Banks share of net income or loss | 85 |
Deutsche Banks share of other comprehensive income | 120 |
Deutsche Banks share of other equity changes | 30 |
Deutsche Banks ownership interest at the end of the period | 4,997 |
Excess Amount from the IPO | 74 |
Total Effect on Shareholders Equity from a Change in DB Ownership Interest in DWS, at the end of the reporting period | € 5,071 |
DBs Ownership Interest follow72
DBs Ownership Interest following Initial Public Offering of DWS Shares (Detail: Text Values) | Jun. 30, 2018EUR (€)€ / sharesshares |
DBs Ownership Interest following Initial Public Offering of DWS Shares [Abstract] | |
Total placement volume of DWS shares in million | 44.5 |
Included: over-allotments (greenshoe) of shares in million | 4.5 |
Share price offered in the IPO as announced on March 22, 2018 in EUR per share | € / shares | € 32.5 |
Number of DWS shares sold as of March 31, 2018, in million shares | 40 |
Market capitalization of DWS based on the placement price, in EUR bn. | € | € 6.5 |
Gross proceeds from placement of DWS shares, in EUR bn. | € | € 1.3 |
Proportion of outside shareholders in DWS after placement, in percent | 20.00% |
Carrying amount of DWS net assets in the Groups consolidated financial statements on the date of the IPO, in EUR bn. | € | € 6 |
Alloction of shares out of the total greenshoe volume of 4.5 million shares to new shareholders by the end of the stabilization period (April 20, 2018), in shares | 1,018,128 |
Proportion of outside shareholders in DWS by the end of the stabilization period, in percent | 0.00% |
Net Interest Income and Net G73
Net Interest Income and Net Gains (Losses) on Financial Assets/Liabilities at Fair Value through P&L (Detail: Text Values) - EUR (€) € in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2018 | Jun. 30, 2017 | |
Net Interest Income [Abstract] | ||||
Net interest income related to government grants under the Targeted Longer-Term Refinancing Operations II (TLTRO II)-program | € 23 | € 0 | € 46 | € 0 |
Net Interest Income and Net G74
Net Interest Income and Net Gains (Losses) on Financial Assets/Liabilities at Fair Value through Profit or Loss (Detail) - EUR (€) € in Millions | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2018 | Jun. 30, 2017 | ||
Net Interest Income and Net Gains (Losses) on Financial Assets/Liabilities at Fair Value through Profit or Loss [Line Items] | |||||
Net interest income | € 3,429 | € 3,081 | € 6,342 | € 6,138 | |
Trading income | [1] | (175) | 1,078 | 867 | 2,514 |
Net gains (losses) on non-trading financial assets mandatory at fair value through profit or loss | 46 | 0 | 24 | 0 | |
Net gains (losses) on financial assets/liabilities designated at fair value through profit or loss | 275 | (234) | 405 | (560) | |
Total net gains (losses) on financial assets/liabilities at fair value through profit or loss | 147 | 845 | 1,296 | 1,953 | |
Total net interest income and net gains (losses) on financial assets/liabilities at fair value through profit or loss | 3,576 | 3,926 | 7,639 | 8,091 | |
Sales & Trading (Equity) | 426 | 425 | 865 | 905 | |
Sales & Trading (FIC) | 1,219 | 1,520 | 2,876 | 3,806 | |
Total Sales & Trading | 1,645 | 1,945 | 3,741 | 4,711 | |
Global Transaction Banking | 443 | 464 | 906 | 975 | |
Remaining Products | (14) | (261) | (164) | (669) | |
Corporate & Investment Bank | 2,074 | 2,148 | 4,482 | 5,017 | |
Private & Commercial Bank | 1,573 | 1,657 | 3,103 | 3,066 | |
Asset Management | 18 | (10) | (20) | 29 | |
Corporate & Other | (89) | 131 | 73 | (20) | |
Total net interest income and net gains (losses) on financial assets/liabilities at fair value through profit or loss | € 3,576 | € 3,926 | € 7,639 | € 8,091 | |
[1] | Trading income includes gains and losses from derivatives not qualifying for hedge accounting. |
Disaggregation of revenues by p
Disaggregation of revenues by product type and business segment - based on IFRS 15 (Detail) - EUR (€) € in Millions | 3 Months Ended | 6 Months Ended |
Jun. 30, 2018 | Jun. 30, 2018 | |
Total Consolidated Segments [Domain Member] | ||
Major type of services: [Abstract] | ||
Commissions for administration | € 147 | € 292 |
Commissions for assets under management | 882 | 1,778 |
Commissions for other securities | 83 | 160 |
Underwriting and advisory fees | 503 | 963 |
Brokerage fees | 546 | 1,236 |
Commissions for local payments | 361 | 721 |
Commissions for foreign commercial business | 156 | 311 |
Commissions for foreign currency/exchange business | 4 | 7 |
Commissions for loan processing and guarantees | 296 | 586 |
Intermediary fees | 131 | 261 |
Fees for sundry other customer services | 292 | 556 |
Total fee and commissions income | 3,400 | 6,870 |
Gross expense | (731) | (1,511) |
Net fees and commissions | 2,669 | 5,359 |
Corporate & Investment Bank [Member] | ||
Major type of services: [Abstract] | ||
Commissions for administration | 78 | 150 |
Commissions for assets under management | 18 | 32 |
Commissions for other securities | 75 | 142 |
Underwriting and advisory fees | 504 | 973 |
Brokerage fees | 305 | 674 |
Commissions for local payments | 103 | 209 |
Commissions for foreign commercial business | 120 | 241 |
Commissions for foreign currency/exchange business | 2 | 4 |
Commissions for loan processing and guarantees | 213 | 425 |
Intermediary fees | 1 | 5 |
Fees for sundry other customer services | 201 | 380 |
Total fee and commissions income | 1,619 | 3,235 |
Private & Commercial Bank [Member] | ||
Major type of services: [Abstract] | ||
Commissions for administration | 64 | 131 |
Commissions for assets under management | 63 | 130 |
Commissions for other securities | 7 | 16 |
Underwriting and advisory fees | 6 | 10 |
Brokerage fees | 215 | 516 |
Commissions for local payments | 258 | 512 |
Commissions for foreign commercial business | 36 | 71 |
Commissions for foreign currency/exchange business | 2 | 4 |
Commissions for loan processing and guarantees | 82 | 161 |
Intermediary fees | 127 | 250 |
Fees for sundry other customer services | 60 | 119 |
Total fee and commissions income | 920 | 1,918 |
Asset Management [Member] | ||
Major type of services: [Abstract] | ||
Commissions for administration | 6 | 12 |
Commissions for assets under management | 801 | 1,617 |
Commissions for other securities | 1 | 2 |
Underwriting and advisory fees | 0 | 0 |
Brokerage fees | 26 | 45 |
Commissions for local payments | 0 | 0 |
Commissions for foreign commercial business | 0 | 0 |
Commissions for foreign currency/exchange business | 0 | 0 |
Commissions for loan processing and guarantees | 0 | 0 |
Intermediary fees | 0 | 0 |
Fees for sundry other customer services | 31 | 56 |
Total fee and commissions income | 865 | 1,731 |
Corporate & Other [Member] | ||
Major type of services: [Abstract] | ||
Commissions for administration | 0 | (1) |
Commissions for assets under management | 0 | 0 |
Commissions for other securities | 0 | 0 |
Underwriting and advisory fees | (7) | (21) |
Brokerage fees | 0 | 0 |
Commissions for local payments | 0 | (1) |
Commissions for foreign commercial business | 0 | 0 |
Commissions for foreign currency/exchange business | 0 | 0 |
Commissions for loan processing and guarantees | 0 | 1 |
Intermediary fees | 3 | 7 |
Fees for sundry other customer services | 1 | 1 |
Total fee and commissions income | € (4) | € (15) |
Disaggregation of revenues by76
Disaggregation of revenues by product type and business segment - based on IFRS 15 (Detail: Text values) - EUR (€) € in Millions | 3 Months Ended | 6 Months Ended |
Jun. 30, 2017 | Jun. 30, 2017 | |
Total commissions and fee income and expenses prior to adoption of IFRS 15: | ||
Commissions and fees for Fiduciary activities | € 1,123 | € 2,177 |
Commissions, brokers fees, mark-ups on securities underwriting and other securities activities | 793 | 1,649 |
Fees for other customer services | € 923 | € 1,948 |
Net Gains (Losses) on Financial
Net Gains (Losses) on Financial Assets Available for Sale (Detail) - EUR (€) € in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2018 | Jun. 30, 2017 | |
Net gains (losses) on financial assets available for sale [Abstract] | ||||
Total net gains (losses) on financial assets available for sale | € 0 | € 78 | € 0 | € 198 |
Other Income (Detail)
Other Income (Detail) - EUR (€) € in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2018 | Jun. 30, 2017 | |
Other Income [Abstract] | ||||
Total other income (loss) | € 146 | € (310) | € 113 | € (204) |
General and Administrative Ex79
General and Administrative Expenses (Detail) - EUR (€) € in Millions | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2018 | Jun. 30, 2017 | ||
General and administrative expenses [Abstract] | |||||
IT costs | € 904 | € 933 | € 1,926 | € 1,869 | |
Regulatory, Tax and Insurance | [1],[2] | 196 | 234 | 1,098 | 1,006 |
Occupancy, furniture and equipment expenses | 436 | 449 | 871 | 898 | |
Professional service fees | 391 | 425 | 784 | 841 | |
Banking and transaction charges | 187 | 193 | 362 | 354 | |
Communication and data services | 157 | 180 | 313 | 356 | |
Travel and representation expenses | 93 | 96 | 191 | 194 | |
Marketing expenses | 78 | 66 | 145 | 126 | |
Other expenses | [3] | 110 | 147 | 317 | 280 |
Total general and administrative expenses | € 2,552 | € 2,724 | € 6,008 | € 5,924 | |
[1] | Includes bank levy of 11 million for the three months ended June 30, 2018 and 21 million for the three months ended June 30, 2017. Bank levy was 675 million for six months ended June 30, 2018 and 561 million for six months ended June 30, 2017 | ||||
[2] | Regulatory, Tax & Insurance which comprises Bank levy and Insurance and Deposit protection has been presented separately in order to provide further transparency. In the Interim Report for quarter ended June 30, 2017, these expenses were included within Other expenses. | ||||
[3] | Includes net credit on litigation related expenses of 31 million for the three months ended June 30, 2018 and a net credit of 26 million for the three months ended June 30, 2017. Litigation related expenses for six months ended June 30, 2018 were 35 million and a net credit for six months ended June 30, 2017 was 57 million. |
General and Administrative Ex80
General and Administrative Expenses (Detail: Text Values) - EUR (€) € in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2018 | Jun. 30, 2017 | |
Regulatory, Tax & Insurance [Abstract] | ||||
thereof: bank levy | € 11 | € 21 | € 675 | € 561 |
Other expenses [Abstract] | ||||
thereof: litigation related net expenses | € 35 | |||
thereof: litigation related net credit | € 31 | € 26 | € 57 |
Restructuring - Net Restructuri
Restructuring - Net Restructuring Expense by Division (Detail) - EUR (€) € in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2018 | Jun. 30, 2017 | |
Corporate & Investment Bank [Member] | ||||
Net Restructuring Expense by Division [Line Items] | ||||
Total Net Restructuring Charges | € 165 | € 66 | € 178 | € 98 |
Private & Commercial Bank [Member] | ||||
Net Restructuring Expense by Division [Line Items] | ||||
Total Net Restructuring Charges | 11 | (4) | (7) | (52) |
Asset Management [Member] | ||||
Net Restructuring Expense by Division [Line Items] | ||||
Total Net Restructuring Charges | 7 | 2 | 9 | 4 |
Total Net Restructuring Charges [Member] | ||||
Net Restructuring Expense by Division [Line Items] | ||||
Total Net Restructuring Charges | € 182 | € 64 | € 181 | € 50 |
Restructuring - Net Restructu82
Restructuring - Net Restructuring Expense by Division (Detail: Text Values) - EUR (€) € in Millions | Jun. 30, 2018 | Mar. 31, 2018 |
Net Restructuring Expense by Division | ||
Provisions for restructuring | € (597) | € (624) |
Restructuring - Net Restructu83
Restructuring - Net Restructuring by Type (Detail) - EUR (€) € in Millions | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2018 | Jun. 30, 2017 | ||
Net Restructuring by Type | |||||
Restructuring, Staff related | € 181 | € 64 | € 184 | € 55 | |
thereof [Abstract] | |||||
Termination Payments | 90 | 54 | 85 | 38 | |
Retention Acceleration | 86 | 10 | 94 | 16 | |
Social Security | 5 | 1 | 5 | 1 | |
Restructuring, Non Staff related | [1] | 1 | 0 | (3) | (4) |
Total Net Restructuring Charges | € 182 | € 64 | € 181 | € 50 | |
[1] | Contract costs, mainly related to real estate and technology. |
Restructuring - Organizational
Restructuring - Organizational Changes (Detail) | 3 Months Ended |
Jun. 30, 2018 | |
Corporate & Investment Bank [Member] | |
Organizational Changes [Line Items] | |
Total full-time equivalent staff | 461 |
Private & Commercial Bank [Member] | |
Organizational Changes [Line Items] | |
Total full-time equivalent staff | 88 |
Asset Management [Member] | |
Organizational Changes [Line Items] | |
Total full-time equivalent staff | 21 |
Infrastructure [Member] | |
Organizational Changes [Line Items] | |
Total full-time equivalent staff | 141 |
Total full-time equivalent staff [Member] | |
Organizational Changes [Line Items] | |
Total full-time equivalent staff | 712 |
Earnings per Share - Computatio
Earnings per Share - Computation of Earnings per Share (Detail) - shares | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2018 | Jun. 30, 2017 | ||
Number of shares in million [Abstract] | |||||
Weighted-average shares outstanding, denominator for basic earnings per share | [1] | 2,104 | 2,086 | 2,100 | 1,834.3 |
Effect of dilutive securities: | |||||
Adjusted weighted-average shares after assumed conversions, denominator for diluted earnings per share | [1] | 2,155.3 | 2,140.2 | 2,153.2 | 1,899.2 |
[1] | The number of average basic and diluted shares outstanding has been adjusted for all periods before April 2017 in order to reflect the effect of the bonus component of subscription rights issued in April 2017 in connection with the capital increase. |
Earnings per Share - Computat86
Earnings per Share - Computation of Earnings per Share in Euro (Detail) - € / shares | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2018 | Jun. 30, 2017 | ||
Earnings per share [Abstract] | |||||
Basic earnings per share | [1],[2] | € 0.03 | € 0.08 | € 0.09 | € 0.4 |
Diluted earnings per share | [1],[2] | € 0.03 | € 0.07 | € 0.09 | € 0.38 |
[1] | Earnings were adjusted by 292 million and 288 million net of tax for the coupons paid on Additional Tier 1 Notes in April 2018 and April 2017, respectively. The coupons paid on Additional Tier 1 Notes are not attributable to Deutsche Bank shareholders and therefore need to be deducted in the calculation in accordance with IAS 33. | ||||
[2] | The number of average basic and diluted shares outstanding has been adjusted for all periods before April 2017 in order to reflect the effect of the bonus component of subscription rights issued in April 2017 in connection with the capital increase. |
Earnings per Share - Computat87
Earnings per Share - Computation of Earnings per Share in Euro (Detail: Text Values) - EUR (€) | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2018 | Jun. 30, 2017 | |
Computation of Earnings per Share [Abstract] | ||||
Earnings adjustment for coupons paid on Additional Tier 1 Notes, net of tax | € 0 | € 0 | € 292,000,000 | € 288,000,000 |
Financial Assets at Fair Value
Financial Assets at Fair Value through Profit and Loss (Detail) - EUR (€) € in Millions | Jun. 30, 2018 | Dec. 31, 2017 | |
Trading assets: | |||
Trading securities, assets | € 148,811 | € 173,196 | |
Other trading assets | [1] | 11,835 | 11,466 |
Total trading assets | 160,646 | 184,661 | |
Positive market values from derivative financial instruments | 347,582 | 361,032 | |
Total trading financial assets | 508,228 | 545,693 | |
Non-trading financial assets mandatory at fair value through profit or loss [Abstract] | |||
Securities purchased under resale agreements | 39,549 | ||
Securities borrowed | 21,367 | ||
Loans | 13,269 | ||
Other financial assets mandatory at fair value through profit or loss | 19,184 | 0 | |
Total non-trading financial assets mandatory at fair value through profit or loss | 93,370 | 0 | |
Financial assets designated at fair value through profit or loss: | |||
Securities purchased under resale agreements | 0 | 57,843 | |
Securities borrowed | 0 | 20,254 | |
Loans | 0 | 4,802 | |
Other financial assets designated at fair value through profit or loss | 673 | 8,377 | |
Total fiinancial assets designated at fair value through profit or loss | 673 | 91,276 | |
Total financial assets at fair value through profit or loss | € 602,270 | € 636,970 | |
[1] | Includes traded loans of 10.7 billion and 10.9 billion at June 30, 2018 and December 31, 2017, respectively. |
Financial Assets at Fair Valu89
Financial Assets at Fair Value through Profit and Loss (Detail: Text Values) - EUR (€) € in Millions | Jun. 30, 2018 | Dec. 31, 2017 |
Financial Assets at Fair Value through Profit and Loss [Abstract] | ||
Traded loans included in "Other trading assets" | € 10,700 | € 10,900 |
Financial Liabilities at Fair V
Financial Liabilities at Fair Value through Profit and Loss (Detail) - EUR (€) € in Millions | Jun. 30, 2018 | Dec. 31, 2017 |
Trading liabilities: | ||
Trading securities, liabilities | € 59,984 | € 71,148 |
Other trading liabilities | 728 | 314 |
Total trading liabilities | 60,712 | 71,462 |
Negative market values from derivative financial instruments | 333,375 | 342,726 |
Total trading financial liabilities | 394,087 | 414,189 |
Financial liabilities designated at fair value through profit or loss: | ||
Securities sold under repurchase agreements | 31,340 | 53,840 |
Loan commitments | 0 | 8 |
Long-term debt | 6,248 | 6,439 |
Other financial liabilities designated at fair value through profit or loss | 2,332 | 3,587 |
Total financial liabilities designated at fair value through profit or loss | 39,920 | 63,874 |
Investment contract liabilities | 560 | 574 |
Total financial liabilities at fair value through profit or loss | € 434,567 | € 478,636 |
Financial Instruments carried91
Financial Instruments carried at Fair Value - Carrying Value of The Financial Instruments held at Fair Value (Detail) - EUR (€) € in Millions | Jun. 30, 2018 | Dec. 31, 2017 | |
Quoted prices in active market (Level 1) | |||
Financial assets held at fair value: | |||
Trading assets | [1] | € 89,787 | € 106,075 |
Trading securities, assets | [1] | 89,494 | 105,792 |
Other trading assets | [1] | 292 | 283 |
Positive market values from derivative financial instruments | [1] | 8,342 | 12,280 |
Non-trading financial assets mandatory at fair value through profit and loss | [1] | 10,764 | 0 |
Financial assets designated at fair value through profit or loss | [1] | 97 | 6,547 |
Financial assets mandatory at fair value through other comprehensive income | [1] | 27,190 | 0 |
Financial assets available for sale | [1] | 29,579 | |
Other financial assets at fair value | [1] | 79 | 0 |
Total financial assets held at fair value | [1] | 136,257 | 154,480 |
Financial liabilities held at fair value: | |||
Trading liabilities | [1] | 42,783 | 53,644 |
Trading securities, liabilities | [1] | 42,780 | 53,644 |
Other trading liabilities | [1] | 4 | 0 |
Negative market values from derivative financial instruments | [1] | 8,318 | 9,163 |
Financial liabilities designated at fair value through profit or loss | [1] | 0 | 4 |
Investment contract liabilities | [1] | 0 | 0 |
Other financial liabilities at fair value | [1] | 41 | 0 |
Total financial liabilities held at fair value | [1] | 51,143 | 62,810 |
Valuation technique observable parameters (Level 2) | |||
Financial assets held at fair value: | |||
Trading assets | [1] | 61,833 | 69,543 |
Trading securities, assets | [1] | 55,426 | 62,770 |
Other trading assets | [1] | 6,407 | 6,773 |
Positive market values from derivative financial instruments | [1] | 331,270 | 341,413 |
Non-trading financial assets mandatory at fair value through profit and loss | [1] | 77,707 | 0 |
Financial assets designated at fair value through profit or loss | [1] | 560 | 83,242 |
Financial assets mandatory at fair value through other comprehensive income | [1] | 21,516 | 0 |
Financial assets available for sale | [1] | 15,713 | |
Other financial assets at fair value | [1],[2] | 2,589 | 3,258 |
Total financial assets held at fair value | [1] | 495,474 | 513,169 |
Financial liabilities held at fair value: | |||
Trading liabilities | [1] | 17,807 | 17,817 |
Trading securities, liabilities | [1] | 17,083 | 17,503 |
Other trading liabilities | [1] | 725 | 314 |
Negative market values from derivative financial instruments | [1] | 318,745 | 327,572 |
Financial liabilities designated at fair value through profit or loss | [1] | 38,592 | 62,426 |
Investment contract liabilities | [1] | 560 | 574 |
Other financial liabilities at fair value | [1],[2] | 2,523 | 1,294 |
Total financial liabilities held at fair value | [1] | 378,226 | 409,683 |
Valuation technique unobservable parameters (Level 3) | |||
Financial assets held at fair value: | |||
Trading assets | [1] | 9,027 | 9,043 |
Trading securities, assets | [1] | 3,891 | 4,634 |
Other trading assets | [1] | 5,136 | 4,409 |
Positive market values from derivative financial instruments | [1] | 7,970 | 7,340 |
Non-trading financial assets mandatory at fair value through profit and loss | [1] | 4,899 | 0 |
Financial assets designated at fair value through profit or loss | [1] | 17 | 1,488 |
Financial assets mandatory at fair value through other comprehensive income | [1] | 106 | 0 |
Financial assets available for sale | [1] | 4,104 | |
Other financial assets at fair value | [1],[3] | 216 | 47 |
Total financial assets held at fair value | [1] | 22,235 | 22,022 |
Financial liabilities held at fair value: | |||
Trading liabilities | [1] | 121 | 2 |
Trading securities, liabilities | [1] | 121 | 2 |
Other trading liabilities | [1] | 0 | 0 |
Negative market values from derivative financial instruments | [1] | 6,312 | 5,992 |
Financial liabilities designated at fair value through profit or loss | [1] | 1,329 | 1,444 |
Investment contract liabilities | [1] | 0 | 0 |
Other financial liabilities at fair value | [1],[3] | (476) | (298) |
Total financial liabilities held at fair value | [1] | € 7,286 | € 7,139 |
[1] | Amounts in this table are generally presented on a gross basis, in line with the Groups accounting policy regarding offsetting of financial instruments, as described in Note 1 Significant Accounting Policies and Critical Accounting Estimates of the Annual Report 2017. | ||
[2] | Predominantly relates to derivatives qualifying for hedge accounting. | ||
[3] | Relates to derivatives which are embedded in contracts where the host contract is held at amortized cost but for which the embedded derivative is separated. The separated embedded derivatives may have a positive or a negative fair value but have been presented in this table to be consistent with the classification of the host contract. The separated embedded derivatives are held at fair value on a recurring basis and have been split between the fair value hierarchy classifications. |
Financial Instruments carried92
Financial Instruments carried at Fair Value - Carrying Value of The Financial Instruments held at Fair Value (Detail: Text Values) - EUR (€) € in Millions | Jun. 30, 2018 | Dec. 31, 2017 |
Quoted prices in active market (Level 1) | ||
Carrying Value of The Financial Instruments held at Fair Value [Line Items] | ||
Transfers from Level 1 to Level 2 on trading assets based on liquidity testing procedures | € (1,500) | € 0 |
Valuation technique observable parameters (Level 2) | ||
Carrying Value of The Financial Instruments held at Fair Value [Line Items] | ||
Transfers from Level 1 to Level 2 on trading assets based on liquidity testing procedures | € 1,500 | € 0 |
Financial Instruments carried93
Financial Instruments carried at Fair Value - Recognitions of Trade Date Profit (Detail) - EUR (€) € in Millions | 6 Months Ended | |
Jun. 30, 2018 | Jun. 30, 2017 | |
Recognitions of Trade Date Profit | ||
Balance, beginning of period | € 596 | € 916 |
New trades during the period | 128 | 116 |
Amortization | (87) | (164) |
Matured trades | (70) | (65) |
Subsequent move to observability | (49) | (69) |
Exchange rate changes | 1 | 0 |
Balance, end of period | € 520 | € 734 |
Financial Instruments carried94
Financial Instruments carried at Fair Value - Reconciliation of Financial Instruments Categorized in Level 3 (Detail) - EUR (€) € in Millions | Jun. 30, 2018 | Jun. 30, 2017 | |||
Balance, beginning of period [Member] | |||||
Financial assets held at fair value [Abstract] | |||||
Trading securities, assets | € 4,148 | € 5,012 | |||
Positive market values from derivative financial instruments | 7,340 | 9,798 | |||
Other trading assets | 4,426 | 5,674 | |||
Non-trading financial assets mandatory at fair value through profit and loss | 4,573 | 0 | |||
Financial assets designated at fair value through profit or loss | 91 | 1,601 | |||
Financial assets mandatory at fair value through other comprehensive income | 231 | 0 | |||
Financial assets available for sale | 0 | 4,153 | |||
Other financial assets at fair value | 47 | 33 | |||
Total financial assets held at fair value | 20,855 | [1] | 26,271 | ||
Financial liabilities held at fair value Abstract, Gains or Losses | |||||
Trading securities, liabilities | 2 | 52 | |||
Negative market values from derivative financial instruments | 5,992 | 8,857 | |||
Other trading liabilities | 0 | 0 | |||
Financial liabilities designated at fair value through profit or loss | 1,444 | 2,229 | |||
Other financial liabilities at fair value | (298) | (848) | |||
Total financial liabilities held at fair value | 7,139 | 10,290 | |||
Changes in the group of consolidated companies [Member] | |||||
Financial assets held at fair value [Abstract] | |||||
Trading securities, assets | 0 | 0 | |||
Positive market values from derivative financial instruments | 0 | 0 | |||
Other trading assets | 0 | (7) | |||
Non-trading financial assets mandatory at fair value through profit and loss | 0 | 0 | |||
Financial assets designated at fair value through profit or loss | 0 | 0 | |||
Financial assets mandatory at fair value through other comprehensive income | 0 | 0 | |||
Financial assets available for sale | 0 | (2) | |||
Other financial assets at fair value | 0 | 0 | |||
Total financial assets held at fair value | 0 | (8) | |||
Financial liabilities held at fair value Abstract, Gains or Losses | |||||
Trading securities, liabilities | 0 | 0 | |||
Negative market values from derivative financial instruments | 0 | 0 | |||
Other trading liabilities | 0 | 0 | |||
Financial liabilities designated at fair value through profit or loss | 0 | (7) | |||
Other financial liabilities at fair value | 0 | 0 | |||
Total financial liabilities held at fair value | 0 | (7) | |||
Total gains/ losses [Member] | |||||
Financial assets held at fair value [Abstract] | |||||
Trading securities, assets | [2] | 19 | (24) | ||
Positive market values from derivative financial instruments | [2] | 471 | (638) | ||
Other trading assets | [2] | 117 | (317) | ||
Non-trading financial assets mandatory at fair value through profit and loss | [2] | 207 | 0 | ||
Financial assets designated at fair value through profit or loss | [2] | (49) | (62) | ||
Financial assets mandatory at fair value through other comprehensive income | [2] | (2) | [3] | 0 | |
Financial assets available for sale | [2] | 0 | 121 | [4] | |
Other financial assets at fair value | [2] | (3) | (2) | ||
Total financial assets held at fair value | [2],[5] | 761 | [6] | (921) | [7] |
Financial liabilities held at fair value Abstract, Gains or Losses | |||||
Trading securities, liabilities | [2] | 1 | (3) | ||
Negative market values from derivative financial instruments | [2] | 407 | (544) | ||
Other trading liabilities | [2] | 0 | 0 | ||
Financial liabilities designated at fair value through profit or loss | [2] | (187) | (36) | ||
Other financial liabilities at fair value | [2] | (204) | 140 | ||
Total financial liabilities held at fair value | [2],[5] | 16 | [6] | (442) | [7] |
Purchases [Member] | |||||
Financial assets held at fair value [Abstract] | |||||
Trading securities, assets | 1,228 | 843 | |||
Positive market values from derivative financial instruments | 0 | 0 | |||
Other trading assets | 606 | 924 | |||
Non-trading financial assets mandatory at fair value through profit and loss | 1,413 | 0 | |||
Financial assets designated at fair value through profit or loss | 0 | 88 | |||
Financial assets mandatory at fair value through other comprehensive income | 71 | 0 | |||
Financial assets available for sale | 0 | 93 | |||
Other financial assets at fair value | 0 | 0 | |||
Total financial assets held at fair value | 3,319 | 1,948 | |||
Financial liabilities held at fair value Abstract, Gains or Losses | |||||
Trading securities, liabilities | 0 | 0 | |||
Negative market values from derivative financial instruments | 0 | 0 | |||
Other trading liabilities | 0 | 0 | |||
Financial liabilities designated at fair value through profit or loss | 0 | 0 | |||
Other financial liabilities at fair value | 0 | 0 | |||
Total financial liabilities held at fair value | 0 | 0 | |||
Sales [Member] | |||||
Financial assets held at fair value [Abstract] | |||||
Trading securities, assets | (1,437) | (1,176) | |||
Positive market values from derivative financial instruments | 0 | 0 | |||
Other trading assets | (921) | (1,734) | |||
Non-trading financial assets mandatory at fair value through profit and loss | (414) | 0 | |||
Financial assets designated at fair value through profit or loss | 0 | (76) | |||
Financial assets mandatory at fair value through other comprehensive income | (25) | 0 | |||
Financial assets available for sale | 0 | (61) | |||
Other financial assets at fair value | 0 | 0 | |||
Total financial assets held at fair value | (2,796) | (3,048) | |||
Financial liabilities held at fair value Abstract, Gains or Losses | |||||
Trading securities, liabilities | 0 | 0 | |||
Negative market values from derivative financial instruments | 0 | 0 | |||
Other trading liabilities | 0 | 0 | |||
Financial liabilities designated at fair value through profit or loss | 0 | 0 | |||
Other financial liabilities at fair value | 0 | 0 | |||
Total financial liabilities held at fair value | 0 | 0 | |||
Issuances [Member] | |||||
Financial assets held at fair value [Abstract] | |||||
Trading securities, assets | [8] | 0 | 0 | ||
Positive market values from derivative financial instruments | [8] | 0 | 0 | ||
Other trading assets | [8] | 940 | 261 | ||
Non-trading financial assets mandatory at fair value through profit and loss | [8] | 1 | 0 | ||
Financial assets designated at fair value through profit or loss | [8] | 0 | 71 | ||
Financial assets mandatory at fair value through other comprehensive income | [8] | 0 | 0 | ||
Financial assets available for sale | [8] | 0 | 0 | ||
Other financial assets at fair value | [8] | 0 | 0 | ||
Total financial assets held at fair value | [8] | 941 | 332 | ||
Financial liabilities held at fair value Abstract, Gains or Losses | |||||
Trading securities, liabilities | [8] | 0 | 0 | ||
Negative market values from derivative financial instruments | [8] | 0 | 0 | ||
Other trading liabilities | [8] | 0 | 0 | ||
Financial liabilities designated at fair value through profit or loss | [8] | 309 | 119 | ||
Other financial liabilities at fair value | [8] | 0 | 0 | ||
Total financial liabilities held at fair value | [8] | 309 | 119 | ||
Settlements [Member] | |||||
Financial assets held at fair value [Abstract] | |||||
Trading securities, assets | [9] | (318) | (229) | ||
Positive market values from derivative financial instruments | [9] | 9 | (645) | ||
Other trading assets | [9] | (402) | (622) | ||
Non-trading financial assets mandatory at fair value through profit and loss | [9] | (780) | 0 | ||
Financial assets designated at fair value through profit or loss | [9] | (23) | (318) | ||
Financial assets mandatory at fair value through other comprehensive income | [9] | (7) | 0 | ||
Financial assets available for sale | [9] | 0 | (537) | ||
Other financial assets at fair value | [9] | (9) | (14) | ||
Total financial assets held at fair value | [9] | (1,530) | (2,364) | ||
Financial liabilities held at fair value Abstract, Gains or Losses | |||||
Trading securities, liabilities | [9] | 0 | (44) | ||
Negative market values from derivative financial instruments | [9] | 23 | (444) | ||
Other trading liabilities | [9] | 0 | 0 | ||
Financial liabilities designated at fair value through profit or loss | [9] | (107) | (102) | ||
Other financial liabilities at fair value | [9] | 4 | 36 | ||
Total financial liabilities held at fair value | [9] | (80) | (554) | ||
Transfers into Level 3 [Member] | |||||
Financial assets held at fair value [Abstract] | |||||
Trading securities, assets | [10] | 1,087 | 1,162 | ||
Positive market values from derivative financial instruments | [10] | 1,521 | 2,204 | ||
Other trading assets | [10] | 603 | 584 | ||
Non-trading financial assets mandatory at fair value through profit and loss | [10] | 247 | 0 | ||
Financial assets designated at fair value through profit or loss | [10] | 0 | 117 | ||
Financial assets mandatory at fair value through other comprehensive income | [10] | 3 | 0 | ||
Financial assets available for sale | [10] | 0 | 208 | ||
Other financial assets at fair value | [10] | 212 | 0 | ||
Total financial assets held at fair value | [10] | 3,672 | 4,274 | ||
Financial liabilities held at fair value Abstract, Gains or Losses | |||||
Trading securities, liabilities | [10] | 120 | 0 | ||
Negative market values from derivative financial instruments | [10] | 1,073 | 844 | ||
Other trading liabilities | [10] | 0 | 0 | ||
Financial liabilities designated at fair value through profit or loss | [10] | 17 | 70 | ||
Other financial liabilities at fair value | [10] | 60 | (18) | ||
Total financial liabilities held at fair value | [10] | 1,269 | 897 | ||
Transfers out of Level 3 [Member] | |||||
Financial assets held at fair value [Abstract] | |||||
Trading securities, assets | [10] | (835) | (752) | ||
Positive market values from derivative financial instruments | [10] | (1,371) | (2,498) | ||
Other trading assets | [10] | (234) | (569) | ||
Non-trading financial assets mandatory at fair value through profit and loss | [10] | (348) | 0 | ||
Financial assets designated at fair value through profit or loss | [10] | (2) | (256) | ||
Financial assets mandatory at fair value through other comprehensive income | [10] | (165) | 0 | ||
Financial assets available for sale | [10] | 0 | (25) | ||
Other financial assets at fair value | [10] | (32) | 0 | ||
Total financial assets held at fair value | [10] | (2,987) | (4,100) | ||
Financial liabilities held at fair value Abstract, Gains or Losses | |||||
Trading securities, liabilities | [10] | (1) | 0 | ||
Negative market values from derivative financial instruments | [10] | (1,182) | (1,697) | ||
Other trading liabilities | [10] | 0 | 0 | ||
Financial liabilities designated at fair value through profit or loss | [10] | (146) | (370) | ||
Other financial liabilities at fair value | [10] | (39) | 54 | ||
Total financial liabilities held at fair value | [10] | (1,368) | (2,013) | ||
Balance, end of period [Member] | |||||
Financial assets held at fair value [Abstract] | |||||
Trading securities, assets | 3,891 | 4,836 | |||
Positive market values from derivative financial instruments | 7,970 | 8,221 | |||
Other trading assets | 5,136 | 4,194 | |||
Non-trading financial assets mandatory at fair value through profit and loss | 4,899 | 0 | |||
Financial assets designated at fair value through profit or loss | 17 | 1,166 | |||
Financial assets mandatory at fair value through other comprehensive income | 106 | 0 | |||
Financial assets available for sale | 0 | 3,950 | |||
Other financial assets at fair value | 216 | 18 | |||
Total financial assets held at fair value | 22,235 | 22,384 | |||
Financial liabilities held at fair value Abstract, Gains or Losses | |||||
Trading securities, liabilities | 121 | 5 | |||
Negative market values from derivative financial instruments | 6,312 | 7,016 | |||
Other trading liabilities | 0 | 0 | |||
Financial liabilities designated at fair value through profit or loss | 1,329 | 1,904 | |||
Other financial liabilities at fair value | (476) | (636) | |||
Total financial liabilities held at fair value | € 7,286 | € 8,289 | |||
[1] | Opening balance have been restated due to reassessment of trades due to IFRS 9. | ||||
[2] | Total gains and losses predominantly relate to net gains (losses) on financial assets/liabilities at fair value through profit or loss reported in the consolidated statement of income. The balance also includes net gains (losses) on financial assets available for sale reported in the consolidated statement of income and unrealized net gains (losses) on financial assets available for sale and exchange rate changes reported in other comprehensive income, net of tax. Further, certain instruments are hedged with instruments in level 1 or level 2 but the table above does not include the gains and losses on these hedging instruments. Additionally, both observable and unobservable parameters may be used to determine the fair value of an instrument classified within level 3 of the fair value hierarchy; the gains and losses presented below are attributable to movements in both the observable and unobservable parameters. | ||||
[3] | Total gains and losses on financial assets mandatory at fair value through OCI include a loss of 6 million recognized in other comprehensive income, net of tax and a loss of 3 million recognized in the income statement presented in net gains (losses). | ||||
[4] | Total gains and losses on financial assets available for sale include a gain of 26 million recognized in other comprehensive income, net of tax, and a gain of 23 million recognized in the income statement presented in net gains (losses) on financial assets available for sale. | ||||
[5] | For assets, positive balances represent gains, negative balances represent losses. For liabilities, positive balances represent losses, negative balances represent gains. | ||||
[6] | This amount includes the effect of exchange rate changes. For total financial assets held at fair value this effect is a gain of 73 million and for total financial liabilities held at fair value this is a loss of 19 million. The effect of exchange rate changes is reported in accumulated other comprehensive income, net of tax. | ||||
[7] | This amount includes the effect of exchange rate changes. For total financial assets held at fair value this effect is a loss of 327 million and for total financial liabilities held at fair value this is a gain of 75 million. The effect of exchange rate changes is reported in accumulated other comprehensive income, net of tax. | ||||
[8] | Issuances relate to the cash amount received on the issuance of a liability and the cash amount paid on the primary issuance of a loan to a borrower. | ||||
[9] | Settlements represent cash flows to settle the asset or liability. For debt and loan instruments this includes principal on maturity, principal amortizations and principal repayments. For derivatives all cash flows are presented in settlements. | ||||
[10] | Transfers in and transfers out of level 3 are related to changes in observability of input parameters. During the period they are recorded at their fair value at the beginning of year. For instruments transferred into level 3 the table shows the gains and losses and cash flows on the instruments as if they had been transferred at the beginning of the year. Similarly for instruments transferred out of level 3 the table does not show any gains or losses or cash flows on the instruments during the period since the table is presented as if they have been transferred out at the beginning of the year. |
Financial Instruments carried95
Financial Instruments carried at Fair Value - Reconciliation of Financial Instruments Categorized in Level 3 (Detail: Text Values) - Total gains/ losses [Member] - EUR (€) € in Millions | 6 Months Ended | |
Jun. 30, 2018 | Jun. 30, 2017 | |
Financial assets mandatory at fair value through other comprehensive income [Abstract] | ||
therein loss recognized in other comprehensive income, net of tax | € (6) | |
therein loss recognized in the income statement presented in net gains (losses), net of tax | (3) | |
Financial assets held at fair value: | ||
therein effect of exchange rate changes | 73 | € (327) |
Financial liabilities held at fair value: | ||
therein effect of exchange rate changes | € (19) | 75 |
Financial assets available for sale [Abstract] | ||
gain recognized in other comprehensive income, net of tax | 26 | |
gain recognized in the income statement | € 23 |
Financial Instruments carried96
Financial Instruments carried at Fair Value - Sensitivity Analysis by Type of Instrument (Detail) - Valuation technique unobservable parameters (Level 3) - EUR (€) € in Millions | Jun. 30, 2018 | Dec. 31, 2017 | |
Positive fair value movement from using reasonable possible alternatives [Member] | |||
Securities: | |||
Debt securities | [1] | € 134 | € 126 |
Commercial mortgage-backed securities | [1] | 4 | 6 |
Mortgage and other asset-backed securities | [1] | 29 | 26 |
Corporate, sovereign and other debt securities | [1] | 101 | 94 |
Equity securities | [1] | 71 | 95 |
Derivatives [Abstract] | |||
Credit | [1] | 149 | 155 |
Equity | [1] | 212 | 164 |
Interest related | [1] | 286 | 340 |
Foreign exchange | [1] | 53 | 65 |
Other | [1] | 147 | 106 |
Loans [Abstract] | |||
Loans | [1] | 472 | 504 |
Loan commitments | [1] | 0 | 0 |
Other | [1] | 0 | 0 |
Total | [1] | 1,522 | 1,556 |
Negative fair value movement from using reasonable possible alternatives [Member] | |||
Securities: | |||
Debt securities | [1] | 80 | 90 |
Commercial mortgage-backed securities | [1] | 4 | 6 |
Mortgage and other asset-backed securities | [1] | 27 | 28 |
Corporate, sovereign and other debt securities | [1] | 49 | 56 |
Equity securities | [1] | 52 | 67 |
Derivatives [Abstract] | |||
Credit | [1] | 94 | 125 |
Equity | [1] | 172 | 138 |
Interest related | [1] | 153 | 173 |
Foreign exchange | [1] | 12 | 12 |
Other | [1] | 106 | 73 |
Loans [Abstract] | |||
Loans | [1] | 179 | 320 |
Loan commitments | [1] | 0 | 0 |
Other | [1] | 0 | 0 |
Total | [1] | € 847 | € 999 |
[1] | Where the exposure to an unobservable parameter is offset across different instruments then only the net impact is disclosed in the table. |
Financial Instruments carried97
Financial Instruments carried at Fair Value - Sensitivity Analysis by Type of Instrument (Detail: Text Values) - EUR (€) € in Millions | Jun. 30, 2018 | Dec. 31, 2017 |
Sensitivity Analysis by Type of Instrument [Abstract] | ||
Reduction in positive fair value movement | € 34 | |
Reduction in negative fair value movement | 153 | |
Group Level 3 assets | 22,200 | € 22,000 |
Group Level 3 liabilities | € 7,300 | € 7,100 |
Financial Instruments carried98
Financial Instruments carried at Fair Value - Unrealized Gains or Losses on Level 3 Instruments Held or in Issue at the Reporting Date (Detail) - Unrealized Gains or Losses [Member] - Valuation technique unobservable parameters (Level 3) - EUR (€) € in Millions | Jun. 30, 2018 | Jun. 30, 2017 |
Financial assets held at fair value [Abstract] | ||
Trading securities, assets | € 15 | € 44 |
Positive market values from derivative financial instruments | 676 | (382) |
Other trading assets | 56 | (48) |
Non-trading financial assets mandatory at fair value through profit and loss | 250 | 0 |
Financial assets designated at fair value through profit or loss | 0 | (42) |
Financial assets mandatory at fair value through other comprehensive income | 0 | 0 |
Financial assets available for sale | 0 | 90 |
Other financial assets at fair value | 0 | (1) |
Total financial assets held at fair value | 997 | (339) |
Financial liabilities held at fair value: | ||
Trading securities, liabilities | (1) | 2 |
Negative market values from derivative financial instruments | (603) | 251 |
Other trading liabilities | 0 | 0 |
Financial liabilities designated at fair value through profit or loss | 189 | (9) |
Other financial liabilities at fair value | 205 | (143) |
Total financial liabilities held at fair value | (209) | 99 |
Total | € 788 | € (240) |
Financial instruments classifie
Financial instruments classified in Level 3 and quantitative information about unobservable inputs (Detail) - Valuation technique unobservable parameters (Level 3) - EUR (€) € in Millions | 6 Months Ended | 12 Months Ended | |||
Jun. 30, 2018 | Dec. 31, 2017 | ||||
Assets [Member] | |||||
Mortgage and other asset backed securities held for trading: | |||||
Commercial mortgage-backed securities | € 57 | € 79 | |||
Mortgage and other asset-backed securities | 495 | 714 | |||
Total mortgage- and other asset-backed securities | 552 | 793 | |||
Debt securites and other debt obligations | 3,454 | 3,870 | |||
Debt securities and other debt obligations, held for trading | 3,042 | 3,559 | |||
Corporate, sovereign and other debt securities (held for trading) | 3,042 | 3,559 | |||
Debt securities and other debt obligations, designated at fair value through profit or loss | 0 | 44 | |||
Debt securities and other debt obligations, Non-trading financial assets mandatory at fair value through profit or loss | 335 | ||||
Debt securities and other debt obligations, available for sale | 267 | ||||
Debt securities and other debt obligations, Mandatory at fair value through OCI | 76 | ||||
Equity securities | 1,447 | 913 | |||
Equity securities, held for trading | 297 | 282 | |||
Equity securities, Non-trading financial assets mandatory at fair value through profit or loss | 1,150 | ||||
Equity securities, designated at fair value through P/L | 151 | ||||
Equity securities, available for sale | 480 | ||||
Loans | 6,414 | 7,397 | |||
Loans, held for trading | 5,067 | 4,376 | |||
Loans, Non-trading financial assets mandatory at fair value through profit or loss | 1,318 | ||||
Loans, Designated at fair value through profit or loss | 0 | 338 | |||
Loans, Available-for-sale | 2,684 | ||||
Loans, Mandatory at fair value through OCI | 30 | ||||
Loan commitments (financial instruments) | 0 | 0 | |||
Other financial instruments | 2,186 | [1] | 1,710 | [2] | |
Total non-derivative financial instruments held at fair value | 14,053 | 14,683 | |||
Market values from derivative financial instruments: | |||||
Interest rates derivatives | 4,368 | 4,466 | |||
Credit derivatives | 719 | 630 | |||
Equity derivatives | 1,099 | 728 | |||
FX derivatives | 938 | 1,113 | |||
Other derivatives | 1,058 | 402 | |||
Total market values from derivative financial instruments | 8,182 | 7,340 | |||
Liabilities [Member] | |||||
Mortgage and other asset backed securities held for trading: | |||||
Commercial mortgage-backed securities | 0 | 0 | |||
Mortgage and other asset-backed securities | 0 | 0 | |||
Total mortgage- and other asset-backed securities | 0 | 0 | |||
Debt securites and other debt obligations | 1,196 | 1,307 | |||
Debt securities and other debt obligations, held for trading | 0 | 2 | |||
Debt securities and other debt obligations, designated at fair value through profit or loss | 1,196 | 1,305 | |||
Equity securities | 121 | 0 | |||
Equity securities, held for trading | 121 | 0 | |||
Loans | 0 | 0 | |||
Loans, held for trading | 0 | 0 | |||
Loans, Designated at fair value through profit or loss | 0 | 0 | |||
Loan commitments (financial instruments) | 0 | 8 | |||
Other financial instruments | 133 | [3] | 131 | [4] | |
Total non-derivative financial instruments held at fair value | 1,450 | 1,446 | |||
Market values from derivative financial instruments: | |||||
Interest rates derivatives | 2,858 | 2,250 | |||
Credit derivatives | 806 | 909 | |||
Equity derivatives | 1,522 | 1,347 | |||
FX derivatives | 900 | 1,058 | |||
Other derivatives | [5] | (250) | 129 | ||
Total market values from derivative financial instruments | € 5,836 | € 5,693 | |||
Financial Instruments classified in Level 3, Valuation Techniques, Significant unobservable input, Range Bottom [Member] | |||||
Mortgage and other asset backed securities held for trading: | |||||
Commercial mortgage-backed securities, Price based valuation, Price | [6] | 0.00% | 0.00% | ||
Commercial mortgage-backed securities, Discounted cash flow valuation, Credit spread (bps) | [6] | 142 | 136 | ||
Mortgage and other asset-backed securities, Price based valuation, Price | [6] | 0.00% | 0.00% | ||
Mortgage and other asset-backed securities, Discounted cash flow valuation, Credit spread (bps) | [6] | 32 | 12 | ||
Mortgage and other asset-backed securities, Discounted cash flow valuation, Recovery rate | [6] | 0.00% | 0.00% | ||
Mortgage and other asset-backed securities, Discounted cash flow valuation, Constant default rate | [6] | 0.00% | 0.00% | ||
Mortgage and other asset-backed securities, Discounted cash flow valuation, Constant prepayment rate | [6] | 0.00% | 0.00% | ||
Debt securites and other debt obligations, Price based valuation, Price | [6] | 0.00% | 0.00% | ||
Held for trading, Discounted cash flow valuation, Credit spread (bps) | [6] | 33 | 34 | ||
Equity securities, Market approach valuation, Price per net asset value | [6] | 70.00% | 60.00% | ||
Held for trading, Market approach valuation, Enterprise value / EBITDA (multiple) | [6] | 6 | 1 | ||
Non-trading financial assets mandatory at fair value through profit or loss, Discounted cash flow valuation, Weighted average cost capital | [6] | 7.00% | |||
Equity securities, available-for-sale, Discounted cash flow valuation, Weighted average cost capital | [6] | 8.00% | |||
Loans, Priced based valuation, Price | [6] | 0.00% | 0.00% | ||
Loans, held for trading, Discounted cash flow valuation, Credit spread (bps) | [6] | 195 | 190 | ||
Non-trading financial assets mandatory at fair value through profit or loss, Discounted cash flow, Constant default rate | [6] | 0.00% | |||
Loans, Designated at fair value through profit or loss, Discounted cash flow valuation, Constant default rate | [6] | 40.00% | 0.00% | ||
Loans, Available-for-sale, Discounted cash flow valuation, Recovery rate | [6] | 40.00% | |||
Loan Commitments, Discounted cash flow valuation, Credit spread (bps) | [6] | 1 | 5 | ||
Loan Commitments, Discounted cash flow valuation, Recovery rate | [6] | 25.00% | 37.00% | ||
Loan Commitment, Loan Pricing Model Valuation, Utilization | [6] | 0.00% | 0.00% | ||
Other financial instruments, Discounted cash flow valuation, IRR | [6] | 8.00% | 1.00% | ||
Other financial instruments, Discounted cash flow valuation, Repo rate (bps) | [6] | 80 | 224 | ||
Market values from derivative financial instruments: | |||||
Interest rate derivatives, Discounted cash flow valuation, Swap rate (bps) | (64) | (72) | |||
Interest rate derivatives, Discounted cash flow valuation, Inflation swap rate | 1.00% | (3.00%) | |||
Interest rate derivatives, Discounted cash flow valuation, Constant default rate | 0.00% | 0.00% | |||
Interest rate derivatives, Discounted cash flow valuation, Constant prepayment rate | 1.00% | 2.00% | |||
Interest rate derivatives, Option pricing model valuation, Inflation volatility | 0.00% | 0.00% | |||
Interest rate derivatives, Option pricing model valuation, Interest rate volatility | 0.00% | 0.00% | |||
Interest rate derivatives, Option pricing model valuation, IR - IR correlation | (25.00%) | (25.00%) | |||
Interest rate derivatives, Option pricing model valuation, Hybrid correlation | (85.00%) | (85.00%) | |||
Credit derivatives, Discounted cash flow valuation, Credit spread (bps) | 0.21 | 0 | |||
Credit derivatives, Discounted cash flow valuation, Recovery rate | 0.00% | 0.00% | |||
Credit derivatives, Correlation pricing model valuation, Credit correlation | 36.00% | 37.00% | |||
Equity derivatives, Option pricing model valuation, Stock volatility | 5.00% | 6.00% | |||
Equity derivatives, Option pricing model valuation, Index volatility | 12.00% | 7.00% | |||
Equity derivatives, Option pricing model valuation, Index - index-correlation | 0.00% | 0.00% | |||
Equity derivatives, Option pricing model valuation, Stock - stock correlation | 2.00% | 2.00% | |||
Equity derivatives, Option pricing model valuation, Stock forwards | 0.00% | 0.00% | |||
Equity derivatives, Option pricing model valuation, Index forwards | 0.00% | 0.00% | |||
FX derivatives, Option pricing model valuation, Volatilty | (5.00%) | (6.00%) | |||
Other derivatives, Discounted cash flow valuation, Credit spread (bps) | 0 | 0 | |||
Other derivatives, Option pricing model valuation, Index volatilty | 15.00% | 0.00% | |||
Other derivatives, Option pricing model valuation, Commodity correlation | (25.00%) | 10.00% | |||
Financial Instruments classified in Level 3, Valuation Techniques, Significant unobservable input, Range Top [Member] | |||||
Mortgage and other asset backed securities held for trading: | |||||
Commercial mortgage-backed securities, Price based valuation, Price | [6] | 101.00% | 102.00% | ||
Commercial mortgage-backed securities, Discounted cash flow valuation, Credit spread (bps) | [6] | 1,712 | 2,217 | ||
Mortgage and other asset-backed securities, Price based valuation, Price | [6] | 101.00% | 102.00% | ||
Mortgage and other asset-backed securities, Discounted cash flow valuation, Credit spread (bps) | [6] | 1,500 | 2,000 | ||
Mortgage and other asset-backed securities, Discounted cash flow valuation, Recovery rate | [6] | 100.00% | 90.00% | ||
Mortgage and other asset-backed securities, Discounted cash flow valuation, Constant default rate | [6] | 20.00% | 25.00% | ||
Mortgage and other asset-backed securities, Discounted cash flow valuation, Constant prepayment rate | [6] | 30.00% | 29.00% | ||
Debt securites and other debt obligations, Price based valuation, Price | [6] | 129.00% | 176.00% | ||
Held for trading, Discounted cash flow valuation, Credit spread (bps) | [6] | 334 | 500 | ||
Equity securities, Market approach valuation, Price per net asset value | [6] | 100.00% | 100.00% | ||
Held for trading, Market approach valuation, Enterprise value / EBITDA (multiple) | [6] | 17 | 14 | ||
Non-trading financial assets mandatory at fair value through profit or loss, Discounted cash flow valuation, Weighted average cost capital | [6] | 20.00% | |||
Equity securities, available-for-sale, Discounted cash flow valuation, Weighted average cost capital | [6] | 20.00% | |||
Loans, Priced based valuation, Price | [6] | 102.00% | 161.00% | ||
Loans, held for trading, Discounted cash flow valuation, Credit spread (bps) | [6] | 575 | 1,578 | ||
Non-trading financial assets mandatory at fair value through profit or loss, Discounted cash flow, Constant default rate | [6] | 0.00% | |||
Loans, Designated at fair value through profit or loss, Discounted cash flow valuation, Constant default rate | [6] | 40.00% | 0.00% | ||
Loans, Available-for-sale, Discounted cash flow valuation, Recovery rate | [6] | 40.00% | |||
Loan Commitments, Discounted cash flow valuation, Credit spread (bps) | [6] | 786 | 261 | ||
Loan Commitments, Discounted cash flow valuation, Recovery rate | [6] | 75.00% | 75.00% | ||
Loan Commitment, Loan Pricing Model Valuation, Utilization | [6] | 100.00% | 100.00% | ||
Other financial instruments, Discounted cash flow valuation, IRR | [6] | 46.00% | 24.00% | ||
Other financial instruments, Discounted cash flow valuation, Repo rate (bps) | [6] | 261 | 254 | ||
Market values from derivative financial instruments: | |||||
Interest rate derivatives, Discounted cash flow valuation, Swap rate (bps) | 860 | 1,036 | |||
Interest rate derivatives, Discounted cash flow valuation, Inflation swap rate | 2.00% | 11.00% | |||
Interest rate derivatives, Discounted cash flow valuation, Constant default rate | 17.00% | 16.00% | |||
Interest rate derivatives, Discounted cash flow valuation, Constant prepayment rate | 39.00% | 38.00% | |||
Interest rate derivatives, Option pricing model valuation, Inflation volatility | 9.00% | 5.00% | |||
Interest rate derivatives, Option pricing model valuation, Interest rate volatility | 26.00% | 103.00% | |||
Interest rate derivatives, Option pricing model valuation, IR - IR correlation | 99.00% | 100.00% | |||
Interest rate derivatives, Option pricing model valuation, Hybrid correlation | 85.00% | 90.00% | |||
Credit derivatives, Discounted cash flow valuation, Credit spread (bps) | 2,005 | 17,957 | |||
Credit derivatives, Discounted cash flow valuation, Recovery rate | 4600.00% | 94.00% | |||
Credit derivatives, Correlation pricing model valuation, Credit correlation | 70.00% | 90.00% | |||
Equity derivatives, Option pricing model valuation, Stock volatility | 84.00% | 90.00% | |||
Equity derivatives, Option pricing model valuation, Index volatility | 63.00% | 53.00% | |||
Equity derivatives, Option pricing model valuation, Index - index-correlation | 0.00% | 0.00% | |||
Equity derivatives, Option pricing model valuation, Stock - stock correlation | 84.00% | 93.00% | |||
Equity derivatives, Option pricing model valuation, Stock forwards | 11.00% | 7.00% | |||
Equity derivatives, Option pricing model valuation, Index forwards | 5.00% | 95.00% | |||
FX derivatives, Option pricing model valuation, Volatilty | 25.00% | 31.00% | |||
Other derivatives, Discounted cash flow valuation, Credit spread (bps) | 0 | 0 | |||
Other derivatives, Option pricing model valuation, Index volatilty | 82.00% | 79.00% | |||
Other derivatives, Option pricing model valuation, Commodity correlation | 86.00% | 75.00% | |||
[1] | Other financial assets include 69 million of other trading assets, 2.1 billion of other financial assets mandatory at fair value and 17 million other financial assets designated at fair value. | ||||
[2] | Other financial assets include 34 million of other trading assets, 956 million of other financial assets designated at fair value and 674 million other financial assets available for sale. | ||||
[3] | Other financial liabilities include 133 million of securities sold under repurchase agreements designated at fair value. | ||||
[4] | Other financial liabilities include 131 million of securities sold under repurchase agreements designated at fair value. | ||||
[5] | Includes derivatives which are embedded in contracts where the host contract is held at amortized cost but for which the embedded derivative is separated. | ||||
[6] | Valuation technique(s) and subsequently the significant unobservable input(s) relate to the respective total position. |
Financial instruments classi100
Financial instruments classified in Level 3 and quantitative information about unobservable inputs (Detail: Text Values) - Valuation technique unobservable parameters (Level 3) - EUR (€) € in Millions | Jun. 30, 2018 | Dec. 31, 2017 |
Assets [Member] | ||
Included in other financial assets [Abstract] | ||
Other trading assets | € 69 | € 34 |
Other financial assets mandatory at fair value | 2,096 | |
Other financial assets designated at fair value | 17 | 956 |
Other financial assets available for sale | 674 | |
Liabilities [Member] | ||
Included in other financial liabilities [Abstract] | ||
Securities sold under repurchase agreements designated at fair value | € 133 | € 131 |
Fair Value of Financial Inst101
Fair Value of Financial Instruments not carried at Fair Value - Estimated Fair Value of the Financial Instruments not carried at Fair Value (Detail) - EUR (€) € in Millions | Jun. 30, 2018 | Dec. 31, 2017 | |
Carrying value [Member] | |||
Financial assets: | |||
Cash and central bank balances | [1] | € 208,086 | € 225,655 |
Interbank balances (w/o central banks) | [1] | 10,872 | 9,265 |
Central bank funds sold and securities purchased under resale agreements | [1] | 7,725 | 9,971 |
Securities borrowed | [1] | 916 | 16,732 |
Loans | [1] | 390,965 | 401,699 |
Securities held to maturity | [1] | 0 | 3,170 |
Other financial assets | [1] | 114,319 | 88,936 |
Financial liabilities: | |||
Deposits | [1] | 558,486 | 581,873 |
Central bank funds purchased and securities sold under repurchase agreements | [1] | 14,310 | 18,105 |
Securities loaned | [1] | 6,486 | 6,688 |
Other short-term borrowings | [1] | 17,693 | 18,411 |
Other financial liabilities | [1] | 134,593 | 117,366 |
Long-term debt | [1] | 157,553 | 159,715 |
Trust preferred securities | [1] | 3,143 | 5,491 |
Fair value [Member] | |||
Financial assets: | |||
Cash and central bank balances | [1] | 208,086 | 225,655 |
Interbank balances (w/o central banks) | [1] | 10,872 | 9,265 |
Central bank funds sold and securities purchased under resale agreements | [1] | 7,727 | 9,973 |
Securities borrowed | [1] | 916 | 16,732 |
Loans | [1] | 389,910 | 403,842 |
Securities held to maturity | [1] | 0 | 3,238 |
Other financial assets | [1] | 114,474 | 88,939 |
Financial liabilities: | |||
Deposits | [1] | 558,902 | 582,006 |
Central bank funds purchased and securities sold under repurchase agreements | [1] | 14,309 | 18,103 |
Securities loaned | [1] | 6,486 | 6,688 |
Other short-term borrowings | [1] | 17,692 | 18,412 |
Other financial liabilities | [1] | 134,593 | 117,366 |
Long-term debt | [1] | 156,566 | 161,829 |
Trust preferred securities | [1] | € 3,265 | € 5,920 |
[1] | Amounts generally presented on a gross basis, in line with the Groups accounting policy regarding offsetting of financial instruments as described in Note 1 Significant Accounting Policies and Critical Accounting Estimates of the Groups Annual Report 2017. |
Financial Assets Available f102
Financial Assets Available for Sale (Detail) - EUR (€) € in Millions | Jun. 30, 2018 | Dec. 31, 2017 |
Debt securities: | ||
Debt securities | € 0 | € 45,081 |
Equity securities: | ||
Equity securities | 0 | 994 |
Other equity interests | 0 | 636 |
Loans | 0 | 2,685 |
Total financial assets available for sale | € 0 | € 49,397 |
Financial assets mandatory a103
Financial assets mandatory at fair value through other comprehensive income (Detail) - Financial assets mandatory at fair value through other comprehensive income [Member] - EUR (€) € in Millions | Jun. 30, 2018 | Dec. 31, 2017 |
Financial assets mandatory at fair value through other comprehensive income [Line Items] | ||
Securities purchased under resale agreements | € 1,703 | € 0 |
Debt securities | 42,298 | 0 |
Loans | 4,811 | 0 |
Total financial assets mandatory at fair value through other comprehensive income | € 48,812 | € 0 |
Financial Instruments Held t104
Financial Instruments Held to Maturity (Detail) - EUR (€) € in Millions | Jun. 30, 2018 | Dec. 31, 2017 |
Carrying value (CV) [Member] | ||
Debt securities reclassified: | ||
G7 Government bonds | € 0 | € 423 |
Other Government, supranational and agency bonds | 0 | 2,747 |
Total financial assets reclassified to Held-to-Maturity | 0 | 3,170 |
Fair value (FV) [Member] | ||
Debt securities reclassified: | ||
G7 Government bonds | 0 | 434 |
Other Government, supranational and agency bonds | 0 | 2,804 |
Total financial assets reclassified to Held-to-Maturity | € 0 | € 3,238 |
Equity Method Investments - Inf
Equity Method Investments - Information on the Groups Share in Associates and Joint Ventures individually immaterial (Detail) - EUR (€) € in Millions | Jun. 30, 2018 | Dec. 31, 2017 |
Information on the Groups Share in Associates and Joint Ventures individually immaterial | ||
Carrying amount of all associates that are individually immaterial to the Group | € 851 | € 866 |
Offsetting Financial Assets 106
Offsetting Financial Assets and Financial Liabilities - Assets (Details) - EUR (€) € in Millions | Jun. 30, 2018 | Dec. 31, 2017 | |
Gross amounts of financial assets [Member] | |||
Offsetting Financial Assets [Line Items] | |||
Central bank funds sold and securities purchased under resale agreements (enforceable) | € 6,372 | € 8,136 | |
Central bank funds sold and securities purchased under resale agreements (non-enforceable) | 1,959 | 2,290 | |
Securities borrowed (enforceable) | 505 | 14,987 | |
Securities borrowed (non-enforceable) | 411 | 1,744 | |
Financial assets at fair value through profit or loss (enforceable) | 456,892 | ||
Financial assets at fair value through profit or loss [Abstract] | |||
Trading assets | 185,127 | ||
Positive market values from derivative financial instruments (enforceable) | 350,074 | 363,859 | |
Financial assets designated at fair value through profit or loss (enforceable) | 219,167 | 125,869 | |
Positive market values from derivative financial instruments (non-enforceable) | 16,732 | 15,410 | |
Financial assets designated at fair value through profit or loss (non-enforceable) | 29,411 | ||
Total financial assets at fair value through profit or loss | 676,059 | 719,676 | |
Loans | 390,965 | 401,699 | |
Other assets | 149,129 | 112,023 | |
thereof: Positive market values from derivatives qualifying for hedge accounting (enforceable) | 3,379 | 3,859 | |
Remaining assets subject to netting | 1,703 | 0 | |
Remaining assets not subject to netting | 286,717 | 307,869 | |
Total assets | 1,513,821 | 1,568,425 | |
Gross amounts set off on the balance sheet [Member] | |||
Offsetting Financial Assets [Line Items] | |||
Central bank funds sold and securities purchased under resale agreements (enforceable) | (606) | (455) | |
Central bank funds sold and securities purchased under resale agreements (non-enforceable) | 0 | 0 | |
Securities borrowed (enforceable) | 0 | 0 | |
Securities borrowed (non-enforceable) | 0 | 0 | |
Financial assets at fair value through profit or loss (enforceable) | (73,789) | ||
Financial assets at fair value through profit or loss [Abstract] | |||
Trading assets | (465) | ||
Positive market values from derivative financial instruments (enforceable) | (19,224) | (18,237) | |
Financial assets designated at fair value through profit or loss (enforceable) | 0 | (64,003) | |
Positive market values from derivative financial instruments (non-enforceable) | 0 | 0 | |
Financial assets designated at fair value through profit or loss (non-enforceable) | 0 | ||
Total financial assets at fair value through profit or loss | (73,789) | (82,706) | |
Loans | 0 | 0 | |
Other assets | (18,466) | (10,531) | |
thereof: Positive market values from derivatives qualifying for hedge accounting (enforceable) | (527) | (706) | |
Remaining assets subject to netting | 0 | 0 | |
Remaining assets not subject to netting | 0 | 0 | |
Total assets | (92,861) | (93,692) | |
Net amounts of financial assets presented on the balance sheet [Member] | |||
Offsetting Financial Assets [Line Items] | |||
Central bank funds sold and securities purchased under resale agreements (enforceable) | 5,766 | 7,681 | |
Central bank funds sold and securities purchased under resale agreements (non-enforceable) | 1,959 | 2,290 | |
Securities borrowed (enforceable) | 505 | 14,987 | |
Securities borrowed (non-enforceable) | 411 | 1,744 | |
Financial assets at fair value through profit or loss (enforceable) | 383,103 | ||
Financial assets at fair value through profit or loss [Abstract] | |||
Trading assets | 184,661 | ||
Positive market values from derivative financial instruments (enforceable) | 330,850 | 345,622 | |
Financial assets designated at fair value through profit or loss (enforceable) | 219,167 | 61,865 | |
Positive market values from derivative financial instruments (non-enforceable) | 16,732 | 15,410 | |
Financial assets designated at fair value through profit or loss (non-enforceable) | 29,411 | ||
Total financial assets at fair value through profit or loss | 602,270 | 636,970 | |
Loans | 390,965 | 401,699 | |
Other assets | 130,663 | 101,491 | |
thereof: Positive market values from derivatives qualifying for hedge accounting (enforceable) | 2,852 | 3,153 | |
Remaining assets subject to netting | 1,703 | 0 | |
Remaining assets not subject to netting | 286,717 | 307,869 | |
Total assets | 1,420,960 | 1,474,732 | |
Impact of Master Netting Agreements [Member] | |||
Offsetting Financial Assets [Line Items] | |||
Central bank funds sold and securities purchased under resale agreements (enforceable) | 0 | 0 | |
Central bank funds sold and securities purchased under resale agreements (non-enforceable) | 0 | 0 | |
Securities borrowed (enforceable) | 0 | 0 | |
Securities borrowed (non-enforceable) | 0 | 0 | |
Financial assets at fair value through profit or loss (enforceable) | (276,634) | ||
Financial assets at fair value through profit or loss [Abstract] | |||
Trading assets | 0 | ||
Positive market values from derivative financial instruments (enforceable) | (275,587) | (285,421) | |
Financial assets designated at fair value through profit or loss (enforceable) | 0 | (728) | |
Positive market values from derivative financial instruments (non-enforceable) | 0 | 0 | |
Financial assets designated at fair value through profit or loss (non-enforceable) | 0 | ||
Total financial assets at fair value through profit or loss | (276,634) | (286,149) | |
Loans | 0 | 0 | |
Other assets | (32,143) | (29,854) | |
thereof: Positive market values from derivatives qualifying for hedge accounting (enforceable) | (2,288) | (2,461) | |
Remaining assets subject to netting | 0 | 0 | |
Remaining assets not subject to netting | 0 | 0 | |
Total assets | (308,777) | (316,003) | |
Cash collateral [Member] | |||
Offsetting Financial Assets [Line Items] | |||
Central bank funds sold and securities purchased under resale agreements (enforceable) | 0 | 0 | |
Central bank funds sold and securities purchased under resale agreements (non-enforceable) | 0 | 0 | |
Securities borrowed (enforceable) | 0 | 0 | |
Securities borrowed (non-enforceable) | 0 | 0 | |
Financial assets at fair value through profit or loss (enforceable) | (38,361) | ||
Financial assets at fair value through profit or loss [Abstract] | |||
Trading assets | (81) | ||
Positive market values from derivative financial instruments (enforceable) | (38,413) | (41,842) | |
Financial assets designated at fair value through profit or loss (enforceable) | (2,072) | (773) | |
Positive market values from derivative financial instruments (non-enforceable) | (2,072) | (1,811) | |
Financial assets designated at fair value through profit or loss (non-enforceable) | 0 | ||
Total financial assets at fair value through profit or loss | (40,433) | (44,508) | |
Loans | (12,987) | (12,642) | |
Other assets | (439) | (569) | |
thereof: Positive market values from derivatives qualifying for hedge accounting (enforceable) | (438) | (565) | |
Remaining assets subject to netting | 0 | 0 | |
Remaining assets not subject to netting | (272) | (390) | |
Total assets | (54,131) | (58,109) | |
Financial instrument collateral [Member] | |||
Offsetting Financial Assets [Line Items] | |||
Central bank funds sold and securities purchased under resale agreements (enforceable) | [1] | (5,766) | (7,675) |
Central bank funds sold and securities purchased under resale agreements (non-enforceable) | [1] | (1,959) | (2,239) |
Securities borrowed (enforceable) | [1] | (498) | (14,093) |
Securities borrowed (non-enforceable) | [1] | (310) | (1,661) |
Financial assets at fair value through profit or loss (enforceable) | [1] | (58,618) | |
Financial assets at fair value through profit or loss [Abstract] | |||
Trading assets | [1] | (86) | |
Positive market values from derivative financial instruments (enforceable) | [1] | (7,347) | (7,868) |
Financial assets designated at fair value through profit or loss (enforceable) | [1] | (10,408) | (56,410) |
Positive market values from derivative financial instruments (non-enforceable) | [1] | (1,358) | (1,276) |
Financial assets designated at fair value through profit or loss (non-enforceable) | [1] | (20,534) | |
Total financial assets at fair value through profit or loss | [1] | (69,025) | (86,174) |
Loans | [1] | (42,139) | (40,775) |
Other assets | [1] | (84) | (94) |
thereof: Positive market values from derivatives qualifying for hedge accounting (enforceable) | [1] | (84) | (94) |
Remaining assets subject to netting | [1] | (2,005) | 0 |
Remaining assets not subject to netting | [1] | (95) | (70) |
Total assets | [1] | (121,881) | (152,782) |
Net amount [Member] | |||
Offsetting Financial Assets [Line Items] | |||
Central bank funds sold and securities purchased under resale agreements (enforceable) | 0 | 7 | |
Central bank funds sold and securities purchased under resale agreements (non-enforceable) | 0 | 51 | |
Securities borrowed (enforceable) | 7 | 894 | |
Securities borrowed (non-enforceable) | 101 | 83 | |
Financial assets at fair value through profit or loss (enforceable) | 9,490 | ||
Financial assets at fair value through profit or loss [Abstract] | |||
Trading assets | 184,495 | ||
Positive market values from derivative financial instruments (enforceable) | 9,503 | 10,490 | |
Financial assets designated at fair value through profit or loss (enforceable) | 206,687 | 3,954 | |
Positive market values from derivative financial instruments (non-enforceable) | 13,302 | 12,323 | |
Financial assets designated at fair value through profit or loss (non-enforceable) | 8,876 | ||
Total financial assets at fair value through profit or loss | 216,178 | 220,138 | |
Loans | 335,839 | 348,282 | |
Other assets | 97,997 | 70,975 | |
thereof: Positive market values from derivatives qualifying for hedge accounting (enforceable) | 42 | 33 | |
Remaining assets subject to netting | (302) | 0 | |
Remaining assets not subject to netting | 286,350 | 307,409 | |
Total assets | € 936,171 | € 947,839 | |
[1] | Excludes real estate and other non-financial instrument collateral. |
Offsetting Financial Assets 107
Offsetting Financial Assets and Financial Liabilities - Liabilities (Details) - EUR (€) € in Millions | Jun. 30, 2018 | Dec. 31, 2017 | |
Gross amounts of financial liabilities [Member] | |||
Offsetting Financial Liabilities [Line Items] | |||
Deposits | € 558,486 | € 581,873 | |
Central bank funds purchased and securities sold under repurchase agreements (enforceable) | 13,116 | 13,318 | |
Central bank funds purchased and securities sold under repurchase agreements (non-enforceable) | 1,800 | 5,242 | |
Securities loaned (enforceable) | 6,408 | 6,688 | |
Securities loaned (non-enforceable) | 78 | 0 | |
Financial liabilities at fair value through profit or loss (enforceable) | 416,467 | ||
Financial liabilities at fair value through profit or loss [Abstract] | |||
Trading liabilities | 0 | 72,106 | |
Financial liabilities designated at fair value through profit or loss (enforceable) | 0 | 104,594 | |
Negative market values from derivative financial instruments (enforceable) | 337,659 | 347,496 | |
Financial liabilities designated at fair value through profit or loss (non-enforceable) | 91,309 | 23,214 | |
Negative market values from derivative financial instruments (non-enforceable) | 14,830 | 13,158 | |
Total financial liabilities at fair value through profit or loss | 507,776 | 560,568 | |
Other liabilities | 174,141 | 143,514 | |
thereof: Negative market values from derivatives qualifying for hedge accounting (enforceable) | 2,655 | 1,841 | |
Remaining liabilities not subject to netting | 183,154 | 190,183 | |
Total liabilities | 1,444,960 | 1,500,326 | |
Gross amounts set off on the balance sheet [Member] | |||
Offsetting Financial Liabilities [Line Items] | |||
Deposits | 0 | 0 | |
Central bank funds purchased and securities sold under repurchase agreements (enforceable) | (606) | (455) | |
Central bank funds purchased and securities sold under repurchase agreements (non-enforceable) | 0 | 0 | |
Securities loaned (enforceable) | 0 | 0 | |
Securities loaned (non-enforceable) | 0 | 0 | |
Financial liabilities at fair value through profit or loss (enforceable) | (73,209) | ||
Financial liabilities at fair value through profit or loss [Abstract] | |||
Trading liabilities | 0 | (643) | |
Financial liabilities designated at fair value through profit or loss (enforceable) | 0 | (63,360) | |
Negative market values from derivative financial instruments (enforceable) | (19,114) | (17,928) | |
Financial liabilities designated at fair value through profit or loss (non-enforceable) | 0 | 0 | |
Negative market values from derivative financial instruments (non-enforceable) | 0 | 0 | |
Total financial liabilities at fair value through profit or loss | (73,209) | (81,932) | |
Other liabilities | (19,046) | (11,306) | |
thereof: Negative market values from derivatives qualifying for hedge accounting (enforceable) | (562) | (547) | |
Remaining liabilities not subject to netting | 0 | 0 | |
Total liabilities | (92,861) | (93,692) | |
Net amounts of financial liabilities presented on the balance sheet [Member] | |||
Offsetting Financial Liabilities [Line Items] | |||
Deposits | 558,486 | 581,873 | |
Central bank funds purchased and securities sold under repurchase agreements (enforceable) | 12,510 | 12,863 | |
Central bank funds purchased and securities sold under repurchase agreements (non-enforceable) | 1,800 | 5,242 | |
Securities loaned (enforceable) | 6,408 | 6,688 | |
Securities loaned (non-enforceable) | 78 | 0 | |
Financial liabilities at fair value through profit or loss (enforceable) | 343,258 | ||
Financial liabilities at fair value through profit or loss [Abstract] | |||
Trading liabilities | 0 | 71,462 | |
Financial liabilities designated at fair value through profit or loss (enforceable) | 0 | 41,234 | |
Negative market values from derivative financial instruments (enforceable) | 318,545 | 329,568 | |
Financial liabilities designated at fair value through profit or loss (non-enforceable) | 91,309 | 23,214 | |
Negative market values from derivative financial instruments (non-enforceable) | 14,830 | 13,158 | |
Total financial liabilities at fair value through profit or loss | 434,567 | 478,636 | |
Other liabilities | 155,095 | 132,208 | |
thereof: Negative market values from derivatives qualifying for hedge accounting (enforceable) | 2,093 | 1,294 | |
Remaining liabilities not subject to netting | 183,154 | 189,122 | |
Total liabilities | 1,352,099 | 1,406,633 | |
Impact of Master Netting Agreements [Member] | |||
Offsetting Financial Liabilities [Line Items] | |||
Deposits | 0 | 0 | |
Central bank funds purchased and securities sold under repurchase agreements (enforceable) | 0 | 0 | |
Central bank funds purchased and securities sold under repurchase agreements (non-enforceable) | 0 | 0 | |
Securities loaned (enforceable) | 0 | 0 | |
Securities loaned (non-enforceable) | 0 | 0 | |
Financial liabilities at fair value through profit or loss (enforceable) | (274,537) | ||
Financial liabilities at fair value through profit or loss [Abstract] | |||
Trading liabilities | 0 | 0 | |
Financial liabilities designated at fair value through profit or loss (enforceable) | 0 | (728) | |
Negative market values from derivative financial instruments (enforceable) | (276,031) | (286,720) | |
Financial liabilities designated at fair value through profit or loss (non-enforceable) | 0 | 0 | |
Negative market values from derivative financial instruments (non-enforceable) | 0 | 0 | |
Total financial liabilities at fair value through profit or loss | (274,537) | (287,448) | |
Other liabilities | (42,329) | (44,815) | |
thereof: Negative market values from derivatives qualifying for hedge accounting (enforceable) | (1,844) | (1,162) | |
Remaining liabilities not subject to netting | 0 | 0 | |
Total liabilities | (316,865) | (332,263) | |
Cash collateral [Member] | |||
Offsetting Financial Liabilities [Line Items] | |||
Deposits | 0 | 0 | |
Central bank funds purchased and securities sold under repurchase agreements (enforceable) | 0 | 0 | |
Central bank funds purchased and securities sold under repurchase agreements (non-enforceable) | 0 | 0 | |
Securities loaned (enforceable) | 0 | 0 | |
Securities loaned (non-enforceable) | 0 | 0 | |
Financial liabilities at fair value through profit or loss (enforceable) | (27,506) | ||
Financial liabilities at fair value through profit or loss [Abstract] | |||
Trading liabilities | 0 | 0 | |
Financial liabilities designated at fair value through profit or loss (enforceable) | 0 | 0 | |
Negative market values from derivative financial instruments (enforceable) | (27,973) | (25,480) | |
Financial liabilities designated at fair value through profit or loss (non-enforceable) | (3,936) | 1,111 | |
Negative market values from derivative financial instruments (non-enforceable) | (1,882) | (1,913) | |
Total financial liabilities at fair value through profit or loss | (31,443) | (26,282) | |
Other liabilities | (107) | (31) | |
thereof: Negative market values from derivatives qualifying for hedge accounting (enforceable) | (104) | (31) | |
Remaining liabilities not subject to netting | 0 | 0 | |
Total liabilities | (31,550) | (26,314) | |
Financial instrument collateral [Member] | |||
Offsetting Financial Liabilities [Line Items] | |||
Deposits | [1] | 0 | 0 |
Central bank funds purchased and securities sold under repurchase agreements (enforceable) | [1] | (12,510) | (12,863) |
Central bank funds purchased and securities sold under repurchase agreements (non-enforceable) | [1] | (1,500) | (4,985) |
Securities loaned (enforceable) | [1] | (6,408) | (6,688) |
Securities loaned (non-enforceable) | [1] | (29) | 0 |
Financial liabilities at fair value through profit or loss (enforceable) | [1] | (27,943) | |
Financial liabilities at fair value through profit or loss [Abstract] | |||
Trading liabilities | [1] | 0 | 0 |
Financial liabilities designated at fair value through profit or loss (enforceable) | [1] | 0 | (40,506) |
Negative market values from derivative financial instruments (enforceable) | [1] | (4,820) | (6,124) |
Financial liabilities designated at fair value through profit or loss (non-enforceable) | [1] | (7,556) | (13,646) |
Negative market values from derivative financial instruments (non-enforceable) | [1] | (723) | (615) |
Total financial liabilities at fair value through profit or loss | [1] | (35,500) | (60,891) |
Other liabilities | [1] | (122) | (87) |
thereof: Negative market values from derivatives qualifying for hedge accounting (enforceable) | [1] | (122) | (87) |
Remaining liabilities not subject to netting | [1] | 0 | 0 |
Total liabilities | [1] | (56,069) | (85,514) |
Net amount [Member] | |||
Offsetting Financial Liabilities [Line Items] | |||
Deposits | 558,486 | 581,873 | |
Central bank funds purchased and securities sold under repurchase agreements (enforceable) | 0 | 0 | |
Central bank funds purchased and securities sold under repurchase agreements (non-enforceable) | 300 | 257 | |
Securities loaned (enforceable) | 0 | 0 | |
Securities loaned (non-enforceable) | 49 | 0 | |
Financial liabilities at fair value through profit or loss (enforceable) | 13,272 | ||
Financial liabilities at fair value through profit or loss [Abstract] | |||
Trading liabilities | 0 | 71,462 | |
Financial liabilities designated at fair value through profit or loss (enforceable) | 0 | 0 | |
Negative market values from derivative financial instruments (enforceable) | 9,721 | 11,244 | |
Financial liabilities designated at fair value through profit or loss (non-enforceable) | 79,817 | 10,679 | |
Negative market values from derivative financial instruments (non-enforceable) | 12,225 | 10,630 | |
Total financial liabilities at fair value through profit or loss | 93,087 | 104,015 | |
Other liabilities | 112,537 | 87,275 | |
thereof: Negative market values from derivatives qualifying for hedge accounting (enforceable) | 23 | 15 | |
Remaining liabilities not subject to netting | 183,154 | 189,122 | |
Total liabilities | € 947,615 | € 962,542 | |
[1] | Excludes real estate and other non-financial instrument collateral. |
Loans - Components of Loans by
Loans - Components of Loans by Industry Classification (Detail) - EUR (€) € in Millions | Jun. 30, 2018 | Dec. 31, 2017 |
thereof: | ||
Total loans | € 390,965 | € 401,699 |
Non-Current Assets and Dispo109
Non-Current Assets and Disposal Groups Held for Sale - Components of Other Non-Current Assets and Disposal Groups Held for Sale (Detail: Text Values) - EUR (€) € in Millions | Jun. 30, 2018 | Dec. 31, 2017 |
Components of Other Non-Current Assets and Disposal Groups Held for Sale [Abstract] | ||
Liabilities included in disposal groups | € 2,700 | € 16 |
Unrealized net gains or losses relating to non-current assets and disposal groups classified as held for sale recognized directly in accumulated other comprehensive income (loss) (net of tax) | 2,600 | € 45 |
Designated sale of Portuguese Private and Commercial Clients business [Abstract] | ||
Valuation resulted in the recognition of a pre-tax loss | 0 | |
Thereof recorded in other income | (40) | |
Thereof recorded in general and administrative expense | € (53) |
Other Assets and Other Liabi110
Other Assets and Other Liabilities - Other Assets (Detail) - EUR (€) € in Millions | Jun. 30, 2018 | Dec. 31, 2017 | |
Brokerage and securities related receivables [Abstracts] | |||
Cash/margin receivables | € 48,476 | € 46,519 | |
Receivables from prime brokerage | [1] | 1 | 12,638 |
Pending securities transactions past settlement date | 3,388 | 3,929 | |
Receivables from unsettled regular way trades | 50,413 | 19,930 | |
Total brokerage and securities related receivables | 102,278 | 83,015 | |
Debt securities held to collect | 6,245 | 0 | |
Accrued interest receivable | 2,572 | 2,374 | |
Assets held for sale | 2,641 | 45 | |
Other | 16,926 | 16,057 | |
Total other assets | € 130,663 | € 101,491 | |
[1] | Receivables from prime brokerage are reported within non-trading assets mandatory at fair value through profit and loss from January 2018 onwards |
Other Assets and Other Liabi111
Other Assets and Other Liabilities - Other Liabilities (Detail) - EUR (€) € in Millions | Jun. 30, 2018 | Dec. 31, 2017 |
Brokerage and securities related payables [Abstract] | ||
Cash/margin payables | € 56,112 | € 58,865 |
Payables from prime brokerage | 21,548 | 25,042 |
Pending securities transactions past settlement date | 2,054 | 2,562 |
Payables from unsettled regular way trades | 45,380 | 20,274 |
Total brokerage and securities related payables | 125,094 | 106,742 |
Accrued interest payable | 2,257 | 2,623 |
Liabilities held for sale | 2,691 | 16 |
Other | 25,053 | 22,827 |
Total other liabilities | € 155,095 | € 132,208 |
Deposits - Components of Deposi
Deposits - Components of Deposits (Detail) - EUR (€) € in Millions | Jun. 30, 2018 | Dec. 31, 2017 |
Components of Deposits [Line Items] | ||
Noninterest-bearing demand deposits | € 221,079 | € 226,339 |
Interest-bearing deposits [Abstract] | ||
Demand deposits | 121,251 | 133,280 |
Time deposits | 129,331 | 133,952 |
Savings deposits | 86,826 | 88,303 |
Total interest-bearing deposits | 337,407 | 355,534 |
Total deposits | € 558,486 | € 581,873 |
Parenthetical Information Note
Parenthetical Information Note 29 Provisions (Detail: Text Values) | 6 Months Ended | 12 Months Ended | ||||||
Jun. 30, 2018EUR (€)€ / sharesshares | Jun. 30, 2018USD ($)shares | Jun. 30, 2018GBP (£)shares | Dec. 31, 2017EUR (€) | Dec. 31, 2017USD ($) | Dec. 31, 2017CHF (SFr) | Dec. 31, 2017BRL (R$) | Jun. 30, 2018USD ($)shares | |
Mortgage Repurchase Demands [Abstract] | ||||||||
Whole loan sales from 2005-2008 of private label securities in U.S.D bn. | $ 84,000,000,000 | |||||||
Whole loan sales from 2005-2008 of loans through whole loan sales in U.S.D bn. | 71,000,000,000 | |||||||
Mortgage repurchase demands outstanding in U.S. D mn. | $ 485,000,000 | |||||||
Recorded provisions against demands outstanding in U.S. D mn. | 77,000,000 | |||||||
Recorded provisions against demands outstanding | € | € 66,000,000 | |||||||
Recognized receivables against demands outstanding in U.S. D mn. | 56,000,000 | |||||||
Recognized receivables against demands outstanding | € | 48,000,000 | |||||||
Net provisions against demands following deduction of receivables in U.S. D mn. | 24,000,000 | |||||||
Net provisions against demands following deduction of receivables | € | 21,000,000 | |||||||
Original principal balance in U.S. D bn. | 9,200,000,000 | |||||||
Potential claim on loans sold by DB in U.S. D bn. | $ 98,400,000,000 | |||||||
Estimated aggregated future loss (more than remote but less than probable) [Abstract] | ||||||||
Civil Litigation matters | € | 2,100,000,000 | € 2,400,000,000 | ||||||
Regulatory enfocement matters | € | 200,000,000 | € 300,000,000 | ||||||
Esch Funds Litigation [Abstract] | ||||||||
Original claims against Sal. Oppenheim related to investments | € | 1,100,000,000 | |||||||
Thereof: still pending | € | 80,000,000 | |||||||
Aggregated amount claimed in proceedings pending | € | 120,000,000 | |||||||
FX Investigations & Litigations [Abstract] | ||||||||
DB Brazil Settlement on 7th Dec 2016 in BRL mn. | R$ | R$ 51000000 | |||||||
Civil monetary penalty payment (agreement with the Board of Governors of the Federal Reserve) in U.S. D mn. | $ 137,000,000 | |||||||
Civil monetary penalty payment (agreement with the New York State Department of Financial Services (DFS)) in U.S. D mn. | € | 205,000,000 | |||||||
Preliminary approval of a settlement related to manipulated benchmark- and spot rates in U.S. D mn. | 190,000,000 | |||||||
Interbank Offered Rates Matters [Abstract] | ||||||||
Anticompetitive conduct settlement (as reported in 2013) | € | 725,000,000 | |||||||
DB agreement to pay for misconduct concerning to LIBOR/EURIBOR/TIBOR settlement to DOJ & CFTC (as reported in 2015) in U.S. D bn. | 2,175,000,000 | |||||||
DB agreement to pay for misconduct concerning to LIBOR/EURIBOR/TIBOR settlement to FCA (as reported in 2015) in GBP mn. | £ | £ 226,800,000 | |||||||
Fine payment by DB Group Services (UK) Ltd. in U.S. D mn. | 150,000,000 | |||||||
Fine payment with respect to Yen LIBOR to Swiss Competition Commission (WEKO) in CHF mn. | SFr | SFr 5,400,000 | |||||||
Payment of settlement with US State attornys investigation in interbank offered rates in U.S. D mn | 220,000,000 | |||||||
Settlement agreement on July 13, 2017 as part of the U.S. dollar LIBOR MDL asserting claims based on alleged transactions in Eurodollar futures and options in U.S. D mn | 80,000,000 | |||||||
Settlement agreement on Feb 6, 2018 as part of the U.S. dollar LIBOR MDL asserting claims based on on alleged transactions in U.S. dollar LIBOR-linked financial instruments in U.S. D mn | 240,000,000 | |||||||
Payment for alleging manipulation of Yen LIBOR and Euroyen TIBOR pending in the SDNY in U.S. D mn | 77,000,000 | |||||||
Payment for alleging manipulation of EURIBOR pending in the SDNY in U.S. D mn | 170,000,000 | |||||||
KOSPI Index Unwind Matters [Abstract] | ||||||||
Criminal fine imposed on Deutsche Securities Korea Co. (DSK) in KRW bn. | € | 1,500,000,000 | |||||||
Criminal fine imposed on Deutsche Securities Korea Co. (DSK) (less than) | € | 2,000,000 | |||||||
Aggregated claim amount against DB & DSK for known clainms (less than) | € | € 50,000,000 | |||||||
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 bn. | 3,100,000,000 | |||||||
Agreed consumer releif for RMBS claims from 2005 to 2007 (settlement with DOJ) in U.S. D bn. | 4,100,000,000 | |||||||
Settlement with Maryland Attorney General of payment for RMBS and CDO businesses from 2002 to 2009 in U.S. D mn. | 15,000,000 | |||||||
Agreed consumer relief settlement with Maryland Attorney General (to be allocated from the overall U.S.D 4.1 billion consumer relief obligation agreed to as part of Deutsche Banks settlement with the DOJ) in U.S. D mn. | $ 80,000,000 | |||||||
Postbank Voluntary Public Takeover Offer [Abstract] | ||||||||
Takeover offer for Postbank shareholder in EUR per share | € / shares | € 25 | |||||||
Total number of shares accepted in takeover in shares mn. | 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] | ||||||||
Postbanks cash compensation with respect to P&L transfer agreement in EUR per share | € / shares | € 25.18 | |||||||
Acceptance of Postbanks cash compensation with respect to P&L transfer agreement in shares mn. | shares | 500,000 | 500,000 | 500,000 | |||||
Squeeze out compensation in EUR per share | € / shares | € 35.05 | |||||||
Number of shares squeezed-out in shares mn. | shares | 7,000,000 | 7,000,000 | 7,000,000 | |||||
Investigations into the Banks anti-money laundering (AML) control function in its investment banking division [Abstract] | ||||||||
Settlement agreement with DFS to pay civil monetary penalties in U.S. D mn. | $ 425,000,000 | |||||||
Settlement agreement with FCA to pay civil monetary penalties in GBP mn. | £ | £ 163,000,000 | |||||||
Payment of penalty for AML issues identified by the Federal Reserve in U.S. D mn. | 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 mn. | $ 48,500,000 | |||||||
U.S. Embargoes-Related Matters [Abstract] | ||||||||
Payment to New York State Department of Financial Services in U.S. D mn. | 200,000,000 | |||||||
Payment to Federal Reserve Bank of New York in U.S. D mn. | $ 58,000,000 |
Provisions - Movements by Clas
Provisions - Movements by Class of Provision (Detail) € in Millions | 6 Months Ended | |
Jun. 30, 2018EUR (€) | ||
Operational Risk [Member] | ||
Movements by Class of Provision [Line Items] | ||
Balance as of, start period | € 275 | |
Changes in the group of consolidated companies | 0 | |
New provisions | 12 | |
Amounts used | 38 | |
Unused amounts reversed | 27 | |
Effects from exchange rate fluctuations/ Unwind of discount | 3 | |
Transfers | 5 | |
Balance as of, end period | 230 | |
Civil Litigations [Member] | ||
Movements by Class of Provision [Line Items] | ||
Balance as of, start period | 1,115 | |
Changes in the group of consolidated companies | 0 | |
New provisions | 137 | |
Amounts used | 392 | |
Unused amounts reversed | 91 | |
Effects from exchange rate fluctuations/ Unwind of discount | 15 | |
Transfers | 27 | |
Balance as of, end period | 812 | |
Regulatory Enforcement [Member] | ||
Movements by Class of Provision [Line Items] | ||
Balance as of, start period | 897 | |
Changes in the group of consolidated companies | 0 | |
New provisions | 129 | |
Amounts used | 287 | |
Unused amounts reversed | 139 | |
Effects from exchange rate fluctuations/ Unwind of discount | 24 | |
Transfers | 3 | |
Balance as of, end period | 627 | |
Restructuring [Member] | ||
Movements by Class of Provision [Line Items] | ||
Balance as of, start period | 696 | |
Changes in the group of consolidated companies | 0 | |
New provisions | 149 | |
Amounts used | 180 | |
Unused amounts reversed | 67 | |
Effects from exchange rate fluctuations/ Unwind of discount | 0 | |
Transfers | (3) | |
Balance as of, end period | 595 | |
Mortgage Repurchase Demands [Member] | ||
Movements by Class of Provision [Line Items] | ||
Balance as of, start period | 73 | |
Changes in the group of consolidated companies | 0 | |
New provisions | 0 | |
Amounts used | 0 | |
Unused amounts reversed | 10 | |
Effects from exchange rate fluctuations/ Unwind of discount | 2 | |
Transfers | 0 | |
Balance as of, end period | 66 | |
Other [Member] | ||
Movements by Class of Provision [Line Items] | ||
Balance as of, start period | 815 | |
Changes in the group of consolidated companies | 0 | |
New provisions | 709 | |
Amounts used | 690 | |
Unused amounts reversed | 108 | |
Effects from exchange rate fluctuations/ Unwind of discount | (5) | |
Transfers | (14) | |
Balance as of, end period | 706 | |
Total [Member] | ||
Movements by Class of Provision [Line Items] | ||
Balance as of, start period | 3,871 | [1] |
Changes in the group of consolidated companies | 0 | [1] |
New provisions | 1,136 | [1] |
Amounts used | 1,587 | [1] |
Unused amounts reversed | 442 | [1] |
Effects from exchange rate fluctuations/ Unwind of discount | 39 | [1] |
Transfers | 18 | [1] |
Balance as of, end period | € 3,036 | [1] |
[1] | For the remaining portion of provisions as disclosed on the consolidated balance sheet, please see Note Allowance for Credit Losses, in which allowances for credit related off-balance sheet positions are disclosed |
Credit related Commitments a115
Credit related Commitments and Contingent Liabilities - Commitments and Contingent Liabilities (Detail: Text Values) - EUR (€) € in Millions | 6 Months Ended | 12 Months Ended |
Jun. 30, 2018 | Dec. 31, 2017 | |
Commitments and Contingent Liabilities [Abstract] | ||
Irrevocable payment commitments related to bank levy according to Bank Recovery and Resolution Directive (BRRD), the Single Resolution Fund (SRF) and the German statutory deposit protection | € 412 | € 412 |
Credit related Commitments a116
Credit related Commitments and Contingent Liabilities - Credit Related Commitments and Contingent Liabilities (Detail) - EUR (€) € in Millions | Jun. 30, 2018 | Dec. 31, 2017 |
Commitments and Contingent Liabilities [Line Items] | ||
Irrevocable lending commitments | € 166,934 | € 158,253 |
Revocable lending commitments | 44,459 | 45,867 |
Contingent liabilities | 47,762 | 48,212 |
Total | € 259,155 | € 252,331 |
Other Commitments and Contingen
Other Commitments and Contingent Liabilities (Detail) - EUR (€) € in Millions | 6 Months Ended | 12 Months Ended |
Jun. 30, 2018 | Dec. 31, 2017 | |
Other Commitments and Contingent Liabilities [Abstract] | ||
Other commitments | € 98 | € 82 |
Other contingent liabilities | 2 | 5 |
Total | € 101 | € 86 |
Other Short-Term Borrowings - C
Other Short-Term Borrowings - Components of Other Short-Term Borrowings (Detail) - EUR (€) € in Millions | Jun. 30, 2018 | Dec. 31, 2017 |
Other short-term borrowings [Abstract] | ||
Total other short-term borrowings | € 17,693 | € 18,411 |
Long-Term Debt and Trust Prefer
Long-Term Debt and Trust Preferred Securities - Fixed and Floating Rate Trust Preferred Securities (Detail) - EUR (€) € in Millions | Jun. 30, 2018 | Dec. 31, 2017 |
Fixed and Floating Rate Trust Preferred Securities [Abstract] | ||
Total trust preferred securities | € 3,143 | € 5,491 |
Long-Term Debt and Trust Pre120
Long-Term Debt and Trust Preferred Securities - Long-Term Debt (Detail) - Total [Domain Member] - EUR (€) € in Millions | Jun. 30, 2018 | Dec. 31, 2017 |
Debt Seniority [Domain Member] | ||
By remaining maturities [Abstract] | ||
Other | € 40,398 | € 42,988 |
Total long-term debt | 157,553 | 159,715 |
Senior debt, Bonds and notes [Member] | ||
By remaining maturities [Abstract] | ||
Fixed rate | 79,101 | 76,285 |
Floating rate | 31,356 | 33,210 |
Subordinated debt, Bonds and notes [Member] | ||
By remaining maturities [Abstract] | ||
Fixed rate | 5,216 | 5,493 |
Floating rate | € 1,482 | € 1,738 |
Shares Issued and Outstandin121
Shares Issued and Outstanding (Detail) - Shares Issued and Outstanding [Member] - shares | Jun. 30, 2018 | Dec. 31, 2017 |
Shares Issued and Outstanding [Line Items] | ||
Shares issued in million | 2,066.773 | 2,066.773 |
Shares in treasury, in million | 6.887 | 0.371 |
thereof [Abstract] | ||
Buyback in million | 6.769 | 0.197 |
Other in million | 0.119 | 0.174 |
Shares outstanding in million | 2,059.886 | 2,066.402 |
Pensions and Other Post-Empl122
Pensions and Other Post-Employment Benefits (Detail) - EUR (€) € in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2018 | Jun. 30, 2017 | |
Expenses for Defined Benefit Plans (Impact on Expense) | ||||
Service cost | € 90 | € 85 | € 124 | € 171 |
Net interest cost (income) | 1 | 3 | 2 | 5 |
Total expenses defined benefit plans | 91 | 88 | 126 | 176 |
Total expenses for defined contribution plans | 106 | 99 | 224 | 231 |
Total expenses for post-employment benefit plans | 198 | 187 | 350 | 407 |
Employer contributions to mandatory German social security pension plan | € 65 | € 59 | € 119 | € 122 |
Pensions and Other Post-Empl123
Pensions and Other Post-Employment Benefits (Detail: Text Values) € in Millions | 6 Months Ended |
Jun. 30, 2018EUR (€) | |
Expenses for Defined Benefit Plans (Impact on Expense) | |
Expected regular contributions to retirement benefit plans in 2018 | € 300 |
Pensions and Other Post-Empl124
Pensions and Other Post-Employment Benefits - Discount Rate (Detail) | 3 Months Ended | 12 Months Ended |
Jun. 30, 2018 | Dec. 31, 2017 | |
Germany [Member] | ||
Discount rate to determine defined benefit obligation [Line Items] | ||
Discount rate to determine defined benefit obligation | 1.70% | 1.70% |
UK [Member] | ||
Discount rate to determine defined benefit obligation [Line Items] | ||
Discount rate to determine defined benefit obligation | 2.60% | 2.50% |
US [Member] | ||
Discount rate to determine defined benefit obligation [Line Items] | ||
Discount rate to determine defined benefit obligation | 4.10% | 3.50% |
Income Taxes - After Offsetting
Income Taxes - After Offsetting, Deferred Tax Assets and Liabilities (Detail) - EUR (€) € in Millions | Jun. 30, 2018 | Dec. 31, 2017 |
After Offsetting, Deferred Tax Assets and Liabilities | ||
Presented as deferred tax assets | € 7,050 | € 6,799 |
Presented as deferred tax liabilities | € 494 | € 346 |
Income Taxes - Analysis of the
Income Taxes - Analysis of the Difference between the Amount (Expected Tax Expense at Domestic Income Tax Rate vs. Actual Income Tax Expense) (Detail) - EUR (€) € in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2018 | Jun. 30, 2017 | |
Analysis of the Difference between the Amount (Expected Tax Expense at Domestic Income Tax Rate vs. Actual Income Tax Expense) | ||||
Actual income tax expense (benefit) | € 310 | € 357 | € 622 | € 660 |
Income Taxes - Components of In
Income Taxes - Components of Income Tax Expense (Benefit) (Detail) - EUR (€) € in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2018 | Jun. 30, 2017 | |
Deferred tax expense (benefit): | ||||
Total deferred tax expense (benefit) | € 335 | € 272 | ||
Total income tax expense (benefit) | € 310 | € 357 | € 622 | € 660 |
Related Party Transactions - Lo
Related Party Transactions - Loans Issued and Guarantees Granted (Detail: Text Values) - EUR (€) € in Millions | Jun. 30, 2018 | Dec. 31, 2017 | Dec. 31, 2016 |
Loans Issued and Guarantees Granted [Abstract] | |||
Key Management Loans and commitments | € 46 | € 48 | € 0 |
Key Management Deposits | 54 | 123 | 0 |
Collateral held for loans outstanding | 14 | 14 | 0 |
Trading assets and positive market values from derivative financial transactions with associated companies | 3 | 6 | 0 |
Trading liabilities and negative market values from derivative financial transactions with associated companies | € 0 | € 0 | € 0 |
Related Party Transactions - Tr
Related Party Transactions - Transactions with Subsidiaries, Joint Ventures and Associates - Deposits Received (Detail) - EUR (€) € in Millions | 6 Months Ended | 12 Months Ended | |
Jun. 30, 2018 | Dec. 31, 2017 | ||
Deposits (Transactions with Subsidiaries, Joint Ventures and Associates) | |||
Deposits, beginning of period | € 67 | € 87 | |
Movement in deposits during the period | [1] | (11) | (15) |
Changes in the group of consolidated companies | 0 | 0 | |
Exchange rate changes/other | 0 | (4) | |
Deposits, end of period | € 55 | € 67 | |
[1] | Net impact of deposits received and deposits repaid during the year is shown as Movement in deposits during the period. |
Related Party Transactions -130
Related Party Transactions - Transactions with Subsidiaries, Joint Ventures and Associates - Loans Issued and Guarantees Granted (Detail) - EUR (€) € in Millions | 6 Months Ended | 12 Months Ended | ||
Jun. 30, 2018 | Dec. 31, 2017 | |||
Loans (Transactions with Subsidiaries, Joint Ventures and Associates) | ||||
Loans outstanding, beginning of period | € 256 | [1] | € 297 | |
Movement in loans during the period | [2] | (12) | (26) | |
Changes in the group of consolidated companies | 0 | (1) | ||
Exchange rate changes/other | (4) | (15) | ||
Loans outstanding, end of period | [1] | 240 | 256 | |
Other credit risk related transactions: | ||||
Allowance for loan losses | 0 | 0 | ||
Provision for loan losses | 0 | 0 | ||
Guarantees and commitments | € 4 | € 9 | ||
[1] | There were no past due loans as of June 30, 2018 and December 31, 2017. For the above loans, the Group held collateral of 14 million and 14 million as of June 30, 2018 and December 31, 2017, respectively. | |||
[2] | Net impact of loans issued and loans repayment during the year is shown as Movement in loans during the period. |
Events after the Reporting P131
Events after the Reporting Period (Detail: Text Values) - EUR (€) € in Millions | Jun. 30, 2018 | Dec. 31, 2017 |
Events after the Reporting Period [Abstract] | ||
Defined benefit obligation related to Germany (mortality assumptions using Heubeck tables version 2005G) | € 12,090 | |
Expected increase of Defined Benefit Obligation as of new mortality tables from Heubeck AG published July 20, 2018 (lower range) | 1.50% | |
Expected increase of Defined Benefit Obligation as of new mortality tables from Heubeck AG published July 20, 2018 (upper range) | 2.50% |
Management Report - Segment 132
Management Report - Segment Results of Operations (Detail) - EUR (€) € in Millions | 3 Months Ended | 6 Months Ended | |||||||
Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2018 | Jun. 30, 2017 | Dec. 31, 2017 | |||||
Segment Results of Operations [Line Items] | |||||||||
Net revenues | € 6,590 | € 6,616 | € 13,567 | € 13,962 | |||||
Provision for credit losses | 95 | 79 | 183 | 212 | |||||
Noninterest expenses [Abstract] | |||||||||
Compensation and benefits | 3,050 | 2,921 | 6,052 | 6,068 | |||||
General and administrative expenses | 2,552 | 2,724 | 6,008 | 5,924 | |||||
Impairment of goodwill and other intangible assets | 0 | 6 | 0 | 6 | |||||
Restructuring activities | 182 | 64 | 181 | 50 | |||||
Total noninterest expenses | 5,784 | 5,715 | 12,241 | 12,049 | |||||
Noncontrolling interests | 0 | 0 | 0 | 0 | |||||
Income (loss) before income taxes | € 711 | € 822 | € 1,143 | € 1,701 | |||||
Cost/income ratio | 87.80% | 86.40% | 90.20% | 86.30% | |||||
Assets | € 1,420,960 | € 1,568,734 | € 1,420,960 | € 1,568,734 | € 1,474,732 | ||||
Risk-weighted assets (CRD 4 - fully loaded) | 348,319 | 354,688 | 348,319 | 354,688 | |||||
CRD 4 leverage exposure measure (spot value at reporting date) | 1,324,163 | 1,442,443 | 1,324,163 | 1,442,443 | |||||
Average shareholders equity | 62,236 | 65,013 | 62,504 | 62,773 | |||||
Average tangible shareholders equity | € 54,086 | € 56,082 | € 54,074 | € 53,828 | |||||
Post-tax return on average tangible shareholders equity | 2.70% | [1] | 3.20% | [2] | 1.80% | [3] | 3.80% | [4] | |
Post-tax return on average shareholders equity | 2.30% | [1] | 2.70% | [2] | 1.50% | [3] | 3.20% | [4] | |
Corporate & Investment Bank [Member] | |||||||||
Segment Results of Operations [Line Items] | |||||||||
Net revenues | € 3,579 | € 3,618 | € 7,424 | € 8,026 | |||||
Provision for credit losses | 11 | 56 | 8 | 113 | |||||
Noninterest expenses [Abstract] | |||||||||
Compensation and benefits | 1,059 | 973 | 2,121 | 2,109 | |||||
General and administrative expenses | 1,848 | 1,887 | 4,415 | 4,289 | |||||
Impairment of goodwill and other intangible assets | 0 | 6 | 0 | 6 | |||||
Restructuring activities | 165 | 66 | 178 | 98 | |||||
Total noninterest expenses | 3,071 | 2,933 | 6,715 | 6,502 | |||||
Noncontrolling interests | 21 | 19 | 24 | 23 | |||||
Income (loss) before income taxes | € 475 | € 611 | € 678 | € 1,388 | |||||
Cost/income ratio | 85.80% | 81.10% | 90.40% | 81.00% | |||||
Assets | € 1,076,696 | € 1,210,220 | € 1,076,696 | € 1,210,220 | |||||
Risk-weighted assets (CRD 4 - fully loaded) | 235,060 | 241,915 | 235,060 | 241,915 | |||||
CRD 4 leverage exposure measure (spot value at reporting date) | 963,038 | 1,078,567 | 963,038 | 1,078,567 | |||||
Average shareholders equity | 43,600 | 44,991 | 43,650 | 42,979 | |||||
Average tangible shareholders equity | € 40,603 | € 41,962 | € 40,665 | € 40,005 | |||||
Post-tax return on average tangible shareholders equity | 3.40% | [1] | 3.90% | [2] | 2.40% | [3] | 4.70% | [4] | |
Post-tax return on average shareholders equity | 3.10% | [1] | 3.60% | [2] | 2.20% | [3] | 4.30% | [4] | |
Private & Commercial Bank [Member] | |||||||||
Segment Results of Operations [Line Items] | |||||||||
Net revenues | € 2,542 | € 2,559 | € 5,182 | € 5,263 | |||||
Provision for credit losses | 86 | 22 | 174 | 100 | |||||
Noninterest expenses [Abstract] | |||||||||
Compensation and benefits | 1,000 | 989 | 1,977 | 1,994 | |||||
General and administrative expenses | 1,184 | 1,214 | 2,450 | 2,454 | |||||
Impairment of goodwill and other intangible assets | 0 | 0 | 0 | 0 | |||||
Restructuring activities | 11 | (4) | (7) | (52) | |||||
Total noninterest expenses | 2,194 | 2,199 | 4,421 | 4,396 | |||||
Noncontrolling interests | 0 | (1) | 0 | (1) | |||||
Income (loss) before income taxes | € 262 | € 338 | € 586 | € 768 | |||||
Cost/income ratio | 86.30% | 85.90% | 85.30% | 83.50% | |||||
Assets | € 337,744 | € 332,531 | € 337,744 | € 332,531 | |||||
Risk-weighted assets (CRD 4 - fully loaded) | 88,031 | 88,534 | 88,031 | 88,534 | |||||
CRD 4 leverage exposure measure (spot value at reporting date) | 348,542 | 345,998 | 348,542 | 345,998 | |||||
Average shareholders equity | 14,041 | 15,323 | 14,248 | 14,915 | |||||
Average tangible shareholders equity | € 11,991 | € 13,196 | € 12,151 | € 12,873 | |||||
Post-tax return on average tangible shareholders equity | 6.30% | [1] | 6.90% | [2] | 7.00% | [3] | 8.00% | [4] | |
Post-tax return on average shareholders equity | 5.40% | [1] | 5.90% | [2] | 5.90% | [3] | 6.90% | [4] | |
Asset Management [Member] | |||||||||
Segment Results of Operations [Line Items] | |||||||||
Net revenues | € 561 | € 676 | € 1,106 | € 1,283 | |||||
Provision for credit losses | (1) | 0 | 0 | 0 | |||||
Noninterest expenses [Abstract] | |||||||||
Compensation and benefits | 194 | 202 | 388 | 400 | |||||
General and administrative expenses | 240 | 234 | 517 | 455 | |||||
Impairment of goodwill and other intangible assets | 0 | 0 | 0 | 0 | |||||
Restructuring activities | 7 | 2 | 9 | 4 | |||||
Total noninterest expenses | 441 | 438 | 914 | 860 | |||||
Noncontrolling interests | 26 | 1 | 26 | 1 | |||||
Income (loss) before income taxes | € 93 | € 238 | € 165 | € 422 | |||||
Cost/income ratio | 78.80% | 64.80% | 82.70% | 67.00% | |||||
Assets | € 9,937 | € 11,509 | € 9,937 | € 11,509 | |||||
Risk-weighted assets (CRD 4 - fully loaded) | 9,498 | 9,018 | 9,498 | 9,018 | |||||
CRD 4 leverage exposure measure (spot value at reporting date) | 4,767 | 3,268 | 4,767 | 3,268 | |||||
Average shareholders equity | 4,595 | 4,698 | 4,606 | 4,695 | |||||
Average tangible shareholders equity | € 1,492 | € 924 | € 1,258 | € 768 | |||||
Post-tax return on average tangible shareholders equity | 18.00% | [1] | 68.90% | [2] | 18.90% | [3] | 73.70% | [4] | |
Post-tax return on average shareholders equity | 5.90% | [1] | 13.50% | [2] | 5.20% | [3] | 12.10% | [4] | |
Corporate and Other [Member] | |||||||||
Segment Results of Operations [Line Items] | |||||||||
Net revenues | € (91) | € (237) | € (145) | € (610) | |||||
Provision for credit losses | (2) | 1 | 0 | 0 | |||||
Noninterest expenses [Abstract] | |||||||||
Compensation and benefits | 798 | 757 | 1,566 | 1,565 | |||||
General and administrative expenses | (721) | (611) | (1,375) | (1,274) | |||||
Impairment of goodwill and other intangible assets | 0 | 0 | 0 | 0 | |||||
Restructuring activities | 0 | 0 | 0 | 0 | |||||
Total noninterest expenses | 77 | 145 | 191 | 291 | |||||
Noncontrolling interests | (48) | (19) | (51) | (23) | |||||
Income (loss) before income taxes | € (119) | € (364) | € (286) | € (878) | |||||
Cost/income ratio | 0.00% | 0.00% | 0.00% | 0.00% | |||||
Assets | € 0 | € 14,473 | € 0 | € 14,473 | |||||
Risk-weighted assets (CRD 4 - fully loaded) | 15,730 | 15,221 | 15,730 | 15,221 | |||||
CRD 4 leverage exposure measure (spot value at reporting date) | 7,816 | 14,610 | 7,816 | 14,610 | |||||
Average shareholders equity | 0 | 0 | 0 | 184 | |||||
Average tangible shareholders equity | € 0 | € 0 | € 0 | € 182 | |||||
Post-tax return on average tangible shareholders equity | 0.00% | [1] | 0.00% | [2] | 0.00% | [3] | 0.00% | [4] | |
Post-tax return on average shareholders equity | 0.00% | [1] | 0.00% | [2] | 0.00% | [3] | 0.00% | [4] | |
[1] | The post-tax return on average tangible shareholders equity and average shareholders equity at the Group level reflects the reported effective tax rate for the Group, which was 44 %. For the post-tax return on average tangible shareholders equity and average shareholders equity of the segments, the applied tax rate was 28 %. | ||||||||
[2] | The post-tax return on average tangible shareholders equity and average shareholders equity at the Group level reflects the reported effective tax rate for the Group, which was 43 %. For the post-tax return on average tangible shareholders equity and average shareholders equity of the segments, the applied tax rate was 33 %. | ||||||||
[3] | The post-tax return on average tangible shareholders equity and average shareholders equity at the Group level reflects the reported effective tax rate for the Group, which was 54 %. For the post-tax return on average tangible shareholders equity and average shareholders equity of the segments, the applied tax rate was 28 %. | ||||||||
[4] | The post-tax return on average tangible shareholders equity and average shareholders equity at the Group level reflects the reported effective tax rate for the Group, which was 39 %. For the post-tax return on average tangible shareholders equity and average shareholders equity of the segments, the applied tax rate was 33 %. |
Management Report - Segment 133
Management Report - Segment Results of Operations (Detail: Text Values) | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2018 | Jun. 30, 2017 | |
Segment Results of Operations, Text Values [Member] | ||||
Segment Results of Operations [Line Items] | ||||
Applied tax rate for post-tax return on average tangible shareholders equity and average shareholders equity of the segments | 28.00% | 33.00% | 28.00% | 33.00% |
Management Report - Corporate D
Management Report - Corporate Divisions - Corporate & Investment Bank (Detail) - Corporate & Investment Bank [Member] - EUR (€) € in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2018 | Jun. 30, 2017 | |
Net revenues [Abstract] | ||||
Global Transaction Banking | € 1,008 | € 967 | € 1,926 | € 2,009 |
Equity Origination | 108 | 115 | 183 | 268 |
Debt Origination | 316 | 311 | 633 | 702 |
Advisory | 153 | 137 | 241 | 250 |
Origination and Advisory | 577 | 563 | 1,057 | 1,220 |
Sales & Trading (Equity) | 540 | 577 | 1,111 | 1,311 |
Sales & Trading (FIC) | 1,372 | 1,646 | 3,255 | 3,870 |
Sales & Trading | 1,912 | 2,224 | 4,366 | 5,180 |
Other | 81 | (136) | 76 | (383) |
Total net revenues | 3,579 | 3,618 | 7,424 | 8,026 |
Provision for credit losses | 11 | 56 | 8 | 113 |
Noninterest expenses [Abstract] | ||||
Compensation and benefits | 1,059 | 973 | 2,121 | 2,109 |
General and administrative expenses | 1,848 | 1,887 | 4,415 | 4,289 |
Impairment of goodwill and other intangible assets | 0 | 6 | 0 | 6 |
Restructuring activities | 165 | 66 | 178 | 98 |
Total noninterest expenses | 3,071 | 2,933 | 6,715 | 6,502 |
Noncontrolling interests | 21 | 19 | 24 | 23 |
Income (loss) before income taxes | € 475 | € 611 | € 678 | € 1,388 |
Management Report - Corporat135
Management Report - Corporate Divisions - Private & Commercial Bank (Detail) - Private & Commercial Bank [Member] - EUR (€) € in Millions | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2018 | Jun. 30, 2017 | ||
Net revenues [Abstract] | |||||
Private & Commercial Business (Germany) | € 1,635 | € 1,573 | € 3,471 | € 3,209 | |
Private and Commercial Business (International) | [1] | 376 | 395 | 749 | 767 |
Wealth Management (Global) | 470 | 523 | 896 | 1,139 | |
Exited Businesses | [2] | 62 | 67 | 66 | 148 |
Total net revenues | 2,542 | 2,559 | 5,182 | 5,263 | |
thereof [Abstract] | |||||
Net interest income | 1,516 | 1,536 | 3,001 | 2,924 | |
Commission and fee income | 793 | 852 | 1,661 | 1,775 | |
Remaining income | 233 | 171 | 520 | 563 | |
Provision for credit losses | 86 | 22 | 174 | 100 | |
Noninterest expenses [Abstract] | |||||
Compensation and benefits | 1,000 | 989 | 1,977 | 1,994 | |
General and administrative expenses | 1,184 | 1,214 | 2,450 | 2,454 | |
Impairment of goodwill and other intangible assets | 0 | 0 | 0 | 0 | |
Restructuring activities | 11 | (4) | (7) | (52) | |
Total noninterest expenses | 2,194 | 2,199 | 4,421 | 4,396 | |
Noncontrolling interests | 0 | (1) | 0 | (1) | |
Income (loss) before income taxes | € 262 | € 338 | € 586 | € 768 | |
[1] | Covers operations in Belgium, India, Italy and Spain. | ||||
[2] | Covers operations in Poland and Portugal as well as Private Client Services (PCS) and Hua Xia in historical periods. |
Management Report - Corporat136
Management Report - Corporate Divisions - Deutsche Asset Management (Detail) - Asset Management [Member] - EUR (€) € in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2018 | Jun. 30, 2017 | |
Net revenues [Abstract] | ||||
Management Fees | € 530 | € 575 | € 1,062 | € 1,139 |
Performance and transaction fees | 29 | 86 | 47 | 105 |
Other revenues | 1 | 15 | (3) | 38 |
Total net revenues | 561 | 676 | 1,106 | 1,283 |
Provision for credit losses | (1) | 0 | 0 | 0 |
Noninterest expenses [Abstract] | ||||
Compensation and benefits | 194 | 202 | 388 | 400 |
General and administrative expenses | 240 | 234 | 517 | 455 |
Impairment of goodwill and other intangible assets | 0 | 0 | 0 | 0 |
Restructuring activities | 7 | 2 | 9 | 4 |
Total noninterest expenses | 441 | 438 | 914 | 860 |
Noncontrolling interests | 26 | 1 | 26 | 1 |
Income (loss) before income taxes | € 93 | € 238 | € 165 | € 422 |
Management Report - Corporat137
Management Report - Corporate Divisions - C & O (Detail) - Corporate and Other [Member] - EUR (€) € in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2018 | Jun. 30, 2017 | |
Consolidations & Adjustments [Line Items] | ||||
Net revenues | € (91) | € (237) | € (145) | € (610) |
Provision for credit losses | (2) | 1 | 0 | 0 |
Noninterest expenses [Abstract] | ||||
Compensation and benefits | 798 | 757 | 1,566 | 1,565 |
General and administrative expenses | (721) | (611) | (1,375) | (1,274) |
Impairment of goodwill and other intangible assets | 0 | 0 | 0 | 0 |
Restructuring activities | 0 | 0 | 0 | 0 |
Total noninterest expenses | 77 | 145 | 191 | 291 |
Noncontrolling interests | (48) | (19) | (51) | (23) |
Income (loss) before income taxes | € (119) | € (364) | € (286) | € (878) |
Allowance for Credit Losses on
Allowance for Credit Losses on Balance Sheet Positions (Detail) - Allowance for credit losses on balance sheet positions [Member] € in Millions | 6 Months Ended | |
Jun. 30, 2018EUR (€) | [1] | |
Allowance Account for Credit Losses of Financial Assets [Member] | ||
Allowance for Credit Losses [Line Items] | ||
Allowance for loan losses, beginning of year | € (4,596) | |
Movements in financial assets including new business | (188) | |
Transfers due to changes in creditworthiness | 0 | |
Changes in models | 0 | |
Financial assets that have been derecognized during the period | 362 | [2] |
Recovery of written off amounts | (110) | |
Foreign exchange and other changes | 64 | |
Allowance for loan losses, end of year | (4,468) | |
Provision for Credit Losses excluding country risk | (188) | [3] |
Stage 1 [Member] | ||
Allowance for Credit Losses [Line Items] | ||
Allowance for loan losses, beginning of year | (462) | |
Movements in financial assets including new business | 88 | |
Transfers due to changes in creditworthiness | (110) | |
Changes in models | 0 | |
Financial assets that have been derecognized during the period | 0 | [2] |
Recovery of written off amounts | 0 | |
Foreign exchange and other changes | 24 | |
Allowance for loan losses, end of year | (460) | |
Provision for Credit Losses excluding country risk | (22) | [3] |
Stage 2 [Member] | ||
Allowance for Credit Losses [Line Items] | ||
Allowance for loan losses, beginning of year | (494) | |
Movements in financial assets including new business | (152) | |
Transfers due to changes in creditworthiness | 122 | |
Changes in models | 0 | |
Financial assets that have been derecognized during the period | 0 | [2] |
Recovery of written off amounts | 0 | |
Foreign exchange and other changes | 19 | |
Allowance for loan losses, end of year | (504) | |
Provision for Credit Losses excluding country risk | (30) | [3] |
Stage 3 [Member] | ||
Allowance for Credit Losses [Line Items] | ||
Allowance for loan losses, beginning of year | (3,638) | |
Movements in financial assets including new business | (126) | |
Transfers due to changes in creditworthiness | (12) | |
Changes in models | 0 | |
Financial assets that have been derecognized during the period | 362 | [2] |
Recovery of written off amounts | (110) | |
Foreign exchange and other changes | 29 | |
Allowance for loan losses, end of year | (3,495) | |
Provision for Credit Losses excluding country risk | (138) | [3] |
Stage 3 POCI [Member] | ||
Allowance for Credit Losses [Line Items] | ||
Allowance for loan losses, beginning of year | (3) | |
Movements in financial assets including new business | 2 | |
Transfers due to changes in creditworthiness | 0 | |
Changes in models | 0 | |
Financial assets that have been derecognized during the period | 0 | [2] |
Recovery of written off amounts | 0 | |
Foreign exchange and other changes | (8) | |
Allowance for loan losses, end of year | (9) | |
Provision for Credit Losses excluding country risk | € 2 | [3] |
[1] | Allowance for credit losses does not include allowance for country risk amounting to 5 million as of June 30, 2018. | |
[2] | This position represents charge offs of allowance for credit losses. | |
[3] | The above table breaks down the impact on provision for credit losses from movements in financial assets including new business, transfers due to changes in creditworthiness and changes in models. |
Allowance for credit losses off
Allowance for credit losses off balance sheet positions (Detail) - Allowance for credit losses off balance sheet positions [Member] € in Millions | 6 Months Ended | |
Jun. 30, 2018EUR (€) | [1] | |
Allowance Account for Credit Losses of Financial Assets [Member] | ||
Allowance for Credit Losses [Line Items] | ||
Allowance off-balance sheet, beginning of year | € (272) | |
Movements in financial assets including new business | 4 | |
Transfers due to changes in creditworthiness | 0 | |
Foreign exchange and other changes | (39) | |
Allowance off-balance sheet, end of year | (307) | |
Provision for Credit Losses excluding country risk | 4 | [2] |
Stage 1 [Member] | ||
Allowance for Credit Losses [Line Items] | ||
Allowance off-balance sheet, beginning of year | (117) | |
Movements in financial assets including new business | 16 | |
Transfers due to changes in creditworthiness | (9) | |
Foreign exchange and other changes | (11) | |
Allowance off-balance sheet, end of year | (121) | |
Provision for Credit Losses excluding country risk | 7 | [2] |
Stage 2 [Member] | ||
Allowance for Credit Losses [Line Items] | ||
Allowance off-balance sheet, beginning of year | (36) | |
Movements in financial assets including new business | (11) | |
Transfers due to changes in creditworthiness | 9 | |
Foreign exchange and other changes | (12) | |
Allowance off-balance sheet, end of year | (49) | |
Provision for Credit Losses excluding country risk | (1) | [2] |
Stage 3 [Member] | ||
Allowance for Credit Losses [Line Items] | ||
Allowance off-balance sheet, beginning of year | (119) | |
Movements in financial assets including new business | (2) | |
Transfers due to changes in creditworthiness | 0 | |
Foreign exchange and other changes | (16) | |
Allowance off-balance sheet, end of year | (136) | |
Provision for Credit Losses excluding country risk | (2) | [2] |
Stage 3 POCI [Member] | ||
Allowance for Credit Losses [Line Items] | ||
Allowance off-balance sheet, beginning of year | 0 | |
Movements in financial assets including new business | 0 | |
Transfers due to changes in creditworthiness | 0 | |
Foreign exchange and other changes | 0 | |
Allowance off-balance sheet, end of year | 0 | |
Provision for Credit Losses excluding country risk | € 0 | [2] |
[1] | Allowance for credit losses does not include allowance for country risk amounting to 4 million as of June 30, 2018 | |
[2] | The above table breaks down the impact on provision for credit losses from movements in financial assets including new business, transfers due to changes in creditworthiness and changes in models. |
Development of allowance for cr
Development of allowance for credit losses (Detail) € in Millions | 6 Months Ended |
Jun. 30, 2017EUR (€) | |
Total [Domain Member] | Total Assessment [domain member] | |
Development of allowance for credit losses [Line Items] | |
Balance, beginning of year | € 4,892 |
Provision for loan losses | 212 |
Thereof: (Gains)/Losses from disposal of impaired loans | (21) |
Net charge-offs: | (694) |
Charge-offs | (748) |
Recoveries | 54 |
Other changes | (122) |
Balance, end of period | 4,288 |
Provision for credit losses [Abstract] | |
in EUR m | € (352) |
in percent | (62.00%) |
Net charge-offs [Abstract] | |
in EUR m | € 359 |
in percent | (34.00%) |
Allowance for credit losses on balance sheet positions [Member] | Total Assessment [domain member] | |
Development of allowance for credit losses [Line Items] | |
Balance, beginning of year | € 4,546 |
Provision for loan losses | 211 |
Thereof: (Gains)/Losses from disposal of impaired loans | (21) |
Net charge-offs: | (694) |
Charge-offs | (748) |
Recoveries | 54 |
Other changes | (109) |
Balance, end of period | 3,953 |
Provision for credit losses [Abstract] | |
in EUR m | € (368) |
in percent | (64.00%) |
Net charge-offs [Abstract] | |
in EUR m | € 359 |
in percent | (34.00%) |
Allowance for credit losses on balance sheet positions [Member] | Individually assessed [Member] | |
Development of allowance for credit losses [Line Items] | |
Balance, beginning of year | € 2,071 |
Provision for loan losses | 109 |
Thereof: (Gains)/Losses from disposal of impaired loans | (1) |
Net charge-offs: | (264) |
Charge-offs | (286) |
Recoveries | 22 |
Other changes | (78) |
Balance, end of period | 1,838 |
Provision for credit losses [Abstract] | |
in EUR m | € (197) |
in percent | (64.00%) |
Net charge-offs [Abstract] | |
in EUR m | € 192 |
in percent | (42.00%) |
Allowance for credit losses on balance sheet positions [Member] | Collectively assessed [Member] | |
Development of allowance for credit losses [Line Items] | |
Balance, beginning of year | € 2,475 |
Provision for loan losses | 101 |
Thereof: (Gains)/Losses from disposal of impaired loans | (20) |
Net charge-offs: | (430) |
Charge-offs | (462) |
Recoveries | 32 |
Other changes | (31) |
Balance, end of period | 2,115 |
Provision for credit losses [Abstract] | |
in EUR m | € (171) |
in percent | (63.00%) |
Net charge-offs [Abstract] | |
in EUR m | € 167 |
in percent | (28.00%) |
Allowance for credit losses off balance sheet positions [Member] | Total Assessment [domain member] | |
Development of allowance for credit losses [Line Items] | |
Balance, beginning of year | € 346 |
Provision for loan losses | 1 |
Thereof: (Gains)/Losses from disposal of impaired loans | 0 |
Net charge-offs: | 0 |
Charge-offs | 0 |
Recoveries | 0 |
Other changes | (12) |
Balance, end of period | 335 |
Provision for credit losses [Abstract] | |
in EUR m | € 16 |
in percent | (110.00%) |
Net charge-offs [Abstract] | |
in EUR m | € 0 |
in percent | 0.00% |
Allowance for credit losses off balance sheet positions [Member] | Individually assessed [Member] | |
Development of allowance for credit losses [Line Items] | |
Balance, beginning of year | € 162 |
Provision for loan losses | 9 |
Thereof: (Gains)/Losses from disposal of impaired loans | 0 |
Net charge-offs: | 0 |
Charge-offs | 0 |
Recoveries | 0 |
Other changes | (2) |
Balance, end of period | 169 |
Provision for credit losses [Abstract] | |
in EUR m | € 27 |
in percent | (150.00%) |
Net charge-offs [Abstract] | |
in EUR m | € 0 |
in percent | 0.00% |
Allowance for credit losses off balance sheet positions [Member] | Collectively assessed [Member] | |
Development of allowance for credit losses [Line Items] | |
Balance, beginning of year | € 183 |
Provision for loan losses | (8) |
Thereof: (Gains)/Losses from disposal of impaired loans | 0 |
Net charge-offs: | 0 |
Charge-offs | 0 |
Recoveries | 0 |
Other changes | (10) |
Balance, end of period | 166 |
Provision for credit losses [Abstract] | |
in EUR m | € (10) |
in percent | (360.00%) |
Net charge-offs [Abstract] | |
in EUR m | € 0 |
in percent | 0.00% |
Basis of Preparation (Detail_ T
Basis of Preparation (Detail: Text Values) - EUR (€) € in Millions | 6 Months Ended | 12 Months Ended |
Jun. 30, 2018 | Dec. 31, 2017 | |
Adjustment of Impairment Methodology for Shipping Loans in the third quarter of 2017: | ||
Impairment due to adjustment of parameters for shipping loans being assessed for impairment under a going concern or gone concern scenario, reflected in the allowance for credit losses | € 70 | |
Impairment due to revision of general haircut applied to shipping loans with gone concern exposures, reflected in the allowance for credit losses | 36 | |
Reclassification of home savings deposit in accordance with IFRS 9 from Provisions to Deposits in Consolidated Balance Sheet | € 1,100 | € 1,100 |
Basis Segment Information (Deta
Basis Segment Information (Detail: Text Values) € in Millions | 6 Months Ended |
Jun. 30, 2017EUR (€) | |
Segment Information [Abstract] | |
Adjusted infrastructure expenses relating to shareholder activities as defined in the OECD Transfer Pricing Guidelines | € 370 |
Effective Tax Rate (Detail_ Tex
Effective Tax Rate (Detail: Text Values) | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2018 | Jun. 30, 2017 | |
Effective Tax Rate [Abstract] | ||||
Effective tax rate | 44.00% | 43.00% | 54.00% | 39.00% |
Allowance for Credit Losses (De
Allowance for Credit Losses (Detail: Text Values) € in Millions | 6 Months Ended |
Jun. 30, 2018EUR (€) | |
Allowance for Credit Losses on/off Balance Sheet Positions [Abstract] | |
Allowance for country risk not included in Allowance for credit losses for Financial Assets at Amortized Cost | € 5 |
Allowance for country risk not included in Allowance for credit losses for Off-balance Sheet Positions | € 4 |
Key Ratios (Detail)
Key Ratios (Detail) | Dec. 31, 2017 | |
IAS 39 [Member] | ||
Key Ratios [Line Items] | ||
CET 1 ratio fully loaded | 14.00% | |
Leverage Ratio fully loaded | 3.80% | |
Leverage Ratio phase-in | 4.10% | |
IFRS 9 [Member] | ||
Key Ratios [Line Items] | ||
CET 1 ratio fully loaded | 13.90% | [1] |
Leverage Ratio fully loaded | 3.80% | [1] |
Leverage Ratio phase-in | 4.10% | [1] |
[1] | Pro forma. |
Impact on Regulatory Capital, R
Impact on Regulatory Capital, RWA, and Leverage Exposure 1 Fully loaded (Detail) - Fully loaded [Member] € in Millions | Dec. 31, 2017EUR (€) | |
Total shareholders equity [Member] | ||
Impact on Regulatory Capital, RWA, and Leverage Exposure 1 [Line Items] | ||
Balance, beginning of period | € 63,174 | |
IFRS 9 changes from | (870) | |
Classification and Measurement | (193) | |
Impairments | (677) | |
Tax effects from | 199 | |
Classification and Measurement | 65 | |
Impairments | 134 | |
IFRS 9 impact net of tax | (671) | |
Balance, end of period | 62,503 | [1] |
Common EquityTier 1 capital fully loaded [Member] | ||
Impact on Regulatory Capital, RWA, and Leverage Exposure 1 [Line Items] | ||
Balance, beginning of period | 48,300 | |
IFRS 9 changes from | (870) | |
Classification and Measurement | (193) | |
Impairments | (677) | |
Tax effects from | 199 | |
Classification and Measurement | 65 | |
Impairments | 134 | |
IFRS 9 impact net of tax | (671) | |
Negative amounts from the calculation of expected loss amounts | 278 | |
Balance, end of period | 47,907 | [1] |
Tier 1 Capital fully loaded [Member] | ||
Impact on Regulatory Capital, RWA, and Leverage Exposure 1 [Line Items] | ||
Balance, beginning of period | 52,921 | |
IFRS 9 changes from | (870) | |
Classification and Measurement | (193) | |
Impairments | (677) | |
Tax effects from | 199 | |
Classification and Measurement | 65 | |
Impairments | 134 | |
IFRS 9 impact net of tax | (671) | |
Negative amounts from the calculation of expected loss amounts | 278 | |
Balance, end of period | € 52,528 | [1] |
[1] | Pro forma. |
Impact on Regulatory Capital147
Impact on Regulatory Capital, RWA, and Leverage Exposure 1 Fully loaded (Detail: Text Values) € in Millions | Dec. 31, 2017EUR (€) |
Fully loaded [Member] | Common EquityTier 1 capital fully loaded [Member] | |
Impact on Regulatory Capital, RWA, and Leverage Exposure 1 [Line Items] | |
Phase-in percentage according to CRR transitional rules considered in pro forma view | € 1 |
Impact on Regulatory Capital148
Impact on Regulatory Capital, RWA, and Leverage Exposure 2 Fully loaded (Detail) - Fully loaded [Member] € in Billions | Dec. 31, 2017EUR (€) | |
Risk Weighted Assets [Member] | ||
Impact on Regulatory Capital, RWA, and Leverage Exposure 2 [Line Items] | ||
Balance, beginning of period | € 344 | [1] |
Changes from | 0 | |
DTA RWA / Change of Total Assets | 1 | |
SA RWA/ Lower Deductions | 0 | |
Balance, end of period | € 345 | [2] |
Ratios, beginning of period | 14.00% | |
Ratios, end of period | 13.90% | |
Change in bps | (13) | |
Leverage Exposure [Member] | ||
Impact on Regulatory Capital, RWA, and Leverage Exposure 2 [Line Items] | ||
Balance, beginning of period | € 1,395 | [1] |
Changes from | 0 | |
DTA RWA / Change of Total Assets | (1) | |
SA RWA/ Lower Deductions | 0 | |
Balance, end of period | € 1,395 | [2] |
Ratios, beginning of period | 3.80% | |
Ratios, end of period | 3.80% | |
Change in bps | (3) | |
[1] | Pro forma. | |
[2] | Pro forma. |
Classification and Measureme149
Classification and Measurement (Detail) € in Millions | Dec. 31, 2017EUR (€) |
IAS 39 carrying amount [Member] | |
Financial assets at fair value through profit or loss [Abstract] | |
From Available for Sale (IAS 39) | € 0 |
From Amortized Cost (IAS 39) | 0 |
To amortised cost (IFRS 9) | 0 |
To Fair Value through Other Comprehensive Income (IFRS 9) | 0 |
Total Fair Value through Profit or Loss | 636,970 |
Financial assets at fair value through other comprehensive income [Abstract] | |
From Available for Sale (IAS 39) | 0 |
From amortised cost (IAS 39) | 0 |
From Fair Value through Profit or Loss (IAS 39) | 0 |
To Amortised Cost (IFRS 9) | 0 |
To Fair Value through Profit or Loss (IFRS 9) | 0 |
Total Fair Value through Other Comprehensive Income | 0 |
Amortised Cost [Abstract] | |
From Amortized Cost (IAS 39) | 0 |
From Available for Sale (IAS 39) | 0 |
From Fair Value through Profit or Loss (IAS 39) | 0 |
To Fair Value through Other Comprehensive Income (IFRS 9) | 0 |
To Fair Value through Profit or Loss (IFRS 9) | 0 |
Total Amortised Cost | 780,721 |
Tax Assets | 8,396 |
Available for Sale (IAS 39) | 49,397 |
Held to Maturity (IAS 39) | 3,170 |
Total Financial Asset balances affected by IFRS 9, Reclassifications and Remeasurements | 1,478,654 |
Reclassifications [Member] | |
Financial assets at fair value through profit or loss [Abstract] | |
From Available for Sale (IAS 39) | 2,535 |
From Amortized Cost (IAS 39) | 41,914 |
To amortised cost (IFRS 9) | (5,900) |
To Fair Value through Other Comprehensive Income (IFRS 9) | (6,508) |
Total Fair Value through Profit or Loss | 32,041 |
Financial assets at fair value through other comprehensive income [Abstract] | |
From Available for Sale (IAS 39) | 41,219 |
From amortised cost (IAS 39) | 9,943 |
From Fair Value through Profit or Loss (IAS 39) | 6,508 |
To Amortised Cost (IFRS 9) | 0 |
To Fair Value through Profit or Loss (IFRS 9) | 0 |
Total Fair Value through Other Comprehensive Income | 57,671 |
Amortised Cost [Abstract] | |
From Amortized Cost (IAS 39) | 0 |
From Available for Sale (IAS 39) | 5,642 |
From Fair Value through Profit or Loss (IAS 39) | 5,900 |
To Fair Value through Other Comprehensive Income (IFRS 9) | (6,773) |
To Fair Value through Profit or Loss (IFRS 9) | (41,914) |
Total Amortised Cost | (37,145) |
Tax Assets | 0 |
Available for Sale (IAS 39) | (49,397) |
Held to Maturity (IAS 39) | (3,170) |
Total Financial Asset balances affected by IFRS 9, Reclassifications and Remeasurements | 0 |
Remeasurements [Member] | |
Financial assets at fair value through profit or loss [Abstract] | |
From Available for Sale (IAS 39) | (3) |
From Amortized Cost (IAS 39) | (3) |
To amortised cost (IFRS 9) | 0 |
To Fair Value through Other Comprehensive Income (IFRS 9) | 0 |
Total Fair Value through Profit or Loss | (6) |
Financial assets at fair value through other comprehensive income [Abstract] | |
From Available for Sale (IAS 39) | (104) |
From amortised cost (IAS 39) | 64 |
From Fair Value through Profit or Loss (IAS 39) | 0 |
To Amortised Cost (IFRS 9) | 0 |
To Fair Value through Profit or Loss (IFRS 9) | 0 |
Total Fair Value through Other Comprehensive Income | (40) |
Amortised Cost [Abstract] | |
From Amortized Cost (IAS 39) | 0 |
From Available for Sale (IAS 39) | 24 |
From Fair Value through Profit or Loss (IAS 39) | (184) |
To Fair Value through Other Comprehensive Income (IFRS 9) | 0 |
To Fair Value through Profit or Loss (IFRS 9) | 0 |
Total Amortised Cost | (159) |
Tax Assets | 230 |
Available for Sale (IAS 39) | 0 |
Held to Maturity (IAS 39) | 0 |
Total Financial Asset balances affected by IFRS 9, Reclassifications and Remeasurements | 24 |
IFRS 9 carrying amount [Member] | |
Financial assets at fair value through profit or loss [Abstract] | |
From Available for Sale (IAS 39) | 0 |
From Amortized Cost (IAS 39) | 0 |
To amortised cost (IFRS 9) | 0 |
To Fair Value through Other Comprehensive Income (IFRS 9) | 0 |
Total Fair Value through Profit or Loss | 669,004 |
Financial assets at fair value through other comprehensive income [Abstract] | |
From Available for Sale (IAS 39) | 0 |
From amortised cost (IAS 39) | 0 |
From Fair Value through Profit or Loss (IAS 39) | 0 |
To Amortised Cost (IFRS 9) | 0 |
To Fair Value through Profit or Loss (IFRS 9) | 0 |
Total Fair Value through Other Comprehensive Income | 57,631 |
Amortised Cost [Abstract] | |
From Amortized Cost (IAS 39) | 0 |
From Available for Sale (IAS 39) | 0 |
From Fair Value through Profit or Loss (IAS 39) | 0 |
To Fair Value through Other Comprehensive Income (IFRS 9) | 0 |
To Fair Value through Profit or Loss (IFRS 9) | 0 |
Total Amortised Cost | 743,417 |
Tax Assets | 8,626 |
Available for Sale (IAS 39) | 0 |
Held to Maturity (IAS 39) | 0 |
Total Financial Asset balances affected by IFRS 9, Reclassifications and Remeasurements | € 1,478,678 |
Impairment (Detail)
Impairment (Detail) € in Millions | Dec. 31, 2017EUR (€) |
IAS 39 Allowance for On-and Off- Balance Sheet positions | |
Financial assets at fair value through profit or loss [Abstract] | |
From Available for Sale (IAS 39) | € 0 |
From Amortized Cost (IAS 39) | 0 |
To amortised cost (IFRS 9) | 0 |
To Fair Value through Other Comprehensive Income (IFRS 9) | 0 |
Total financial assets at fair value through profit or loss | 0 |
Financial assets at fair value through other comprehensive income [Abstract] | |
From Available for Sale (IAS 39) | 0 |
From amortised cost (IAS 39) | 0 |
From Fair Value through Profit or Loss (IAS 39) | 0 |
To Amortised Cost (IFRS 9) | 0 |
To Fair Value through Profit or Loss (IFRS 9) | 0 |
Total Fair Value through Other Comprehensive Income | 0 |
Amortised Cost [Abstract] | |
From Amortized Cost (IAS 39) | 3,856 |
From Available for Sale (IAS 39) | 0 |
From Fair Value through Profit or Loss (IAS 39) | 0 |
To Fair Value through Other Comprehensive Income (IFRS 9) | 10 |
To Fair Value through Profit or Loss (IFRS 9) | 55 |
Total Amortised Cost | 3,921 |
Total On Balance Sheet Positions affected by IFRS 9 ECL Model | 3,921 |
Off Balance Sheet | 285 |
Total On- and Off Balance Sheet Positions affected by IFRS 9 ECL Model | 4,207 |
Changes due to reclassifications | |
Financial assets at fair value through profit or loss [Abstract] | |
From Available for Sale (IAS 39) | 0 |
From Amortized Cost (IAS 39) | 0 |
To amortised cost (IFRS 9) | 0 |
To Fair Value through Other Comprehensive Income (IFRS 9) | 0 |
Total financial assets at fair value through profit or loss | 0 |
Financial assets at fair value through other comprehensive income [Abstract] | |
From Available for Sale (IAS 39) | 0 |
From amortised cost (IAS 39) | 0 |
From Fair Value through Profit or Loss (IAS 39) | 0 |
To Amortised Cost (IFRS 9) | 0 |
To Fair Value through Profit or Loss (IFRS 9) | 0 |
Total Fair Value through Other Comprehensive Income | 0 |
Amortised Cost [Abstract] | |
From Amortized Cost (IAS 39) | 0 |
From Available for Sale (IAS 39) | 0 |
From Fair Value through Profit or Loss (IAS 39) | 0 |
To Fair Value through Other Comprehensive Income (IFRS 9) | (10) |
To Fair Value through Profit or Loss (IFRS 9) | (55) |
Total Amortised Cost | (65) |
Total On Balance Sheet Positions affected by IFRS 9 ECL Model | (65) |
Off Balance Sheet | 0 |
Total On- and Off Balance Sheet Positions affected by IFRS 9 ECL Model | (65) |
Changes due to the introduction of the IFRS 9 ECL model | |
Financial assets at fair value through profit or loss [Abstract] | |
From Available for Sale (IAS 39) | 0 |
From Amortized Cost (IAS 39) | 0 |
To amortised cost (IFRS 9) | 0 |
To Fair Value through Other Comprehensive Income (IFRS 9) | 0 |
Total financial assets at fair value through profit or loss | 0 |
Financial assets at fair value through other comprehensive income [Abstract] | |
From Available for Sale (IAS 39) | 12 |
From amortised cost (IAS 39) | 0 |
From Fair Value through Profit or Loss (IAS 39) | 0 |
To Amortised Cost (IFRS 9) | 0 |
To Fair Value through Profit or Loss (IFRS 9) | 0 |
Total Fair Value through Other Comprehensive Income | 12 |
Amortised Cost [Abstract] | |
From Amortized Cost (IAS 39) | 737 |
From Available for Sale (IAS 39) | 0 |
From Fair Value through Profit or Loss (IAS 39) | 9 |
To Fair Value through Other Comprehensive Income (IFRS 9) | 0 |
To Fair Value through Profit or Loss (IFRS 9) | 0 |
Total Amortised Cost | 746 |
Total On Balance Sheet Positions affected by IFRS 9 ECL Model | 758 |
Off Balance Sheet | (6) |
Total On- and Off Balance Sheet Positions affected by IFRS 9 ECL Model | 753 |
IFRS 9 Allowance for On-and Off- Balance Sheet Positions | |
Financial assets at fair value through profit or loss [Abstract] | |
From Available for Sale (IAS 39) | 0 |
From Amortized Cost (IAS 39) | 0 |
To amortised cost (IFRS 9) | 0 |
To Fair Value through Other Comprehensive Income (IFRS 9) | 0 |
Total financial assets at fair value through profit or loss | 0 |
Financial assets at fair value through other comprehensive income [Abstract] | |
From Available for Sale (IAS 39) | 12 |
From amortised cost (IAS 39) | 0 |
From Fair Value through Profit or Loss (IAS 39) | 0 |
To Amortised Cost (IFRS 9) | 0 |
To Fair Value through Profit or Loss (IFRS 9) | 0 |
Total Fair Value through Other Comprehensive Income | 12 |
Amortised Cost [Abstract] | |
From Amortized Cost (IAS 39) | 4,594 |
From Available for Sale (IAS 39) | 0 |
From Fair Value through Profit or Loss (IAS 39) | 9 |
To Fair Value through Other Comprehensive Income (IFRS 9) | 0 |
To Fair Value through Profit or Loss (IFRS 9) | 0 |
Total Amortised Cost | 4,603 |
Total On Balance Sheet Positions affected by IFRS 9 ECL Model | 4,615 |
Off Balance Sheet | 280 |
Total On- and Off Balance Sheet Positions affected by IFRS 9 ECL Model | € 4,894 |
Impact on Regulatory Capital151
Impact on Regulatory Capital, RWA, and Leverage Exposure 1 Transitional rules (Detail) - Transitional rules [Member] € in Millions | Dec. 31, 2017EUR (€) | |
Total shareholders equity [Member] | ||
Impact on Regulatory Capital, RWA, and Leverage Exposure 1 [Line Items] | ||
Balance, beginning of period | € 63,174 | |
IFRS 9 changes from | (870) | |
Classification and Measurement | (193) | |
Impairments | (677) | |
Tax effects from | 199 | |
Classification and Measurement | 65 | |
Impairments | 134 | |
IFRS 9 impact net of tax | (671) | |
Balance, end of period | 62,503 | [1] |
Common EquityTier 1 capital fully loaded [Member] | ||
Impact on Regulatory Capital, RWA, and Leverage Exposure 1 [Line Items] | ||
Balance, beginning of period | 50,808 | |
IFRS 9 changes from | (870) | |
Classification and Measurement | (193) | |
Impairments | (677) | |
Tax effects from | 199 | |
Classification and Measurement | 65 | |
Impairments | 134 | |
IFRS 9 impact net of tax | (671) | |
Negative amounts from the calculation of expected loss amounts | 223 | |
Balance, end of period | 50,359 | [1],[2] |
Tier 1 Capital fully loaded [Member] | ||
Impact on Regulatory Capital, RWA, and Leverage Exposure 1 [Line Items] | ||
Balance, beginning of period | 57,631 | |
IFRS 9 changes from | (870) | |
Classification and Measurement | (193) | |
Impairments | (677) | |
Tax effects from | 199 | |
Classification and Measurement | 65 | |
Impairments | 134 | |
IFRS 9 impact net of tax | (671) | |
Negative amounts from the calculation of expected loss amounts | 278 | |
Balance, end of period | € 57,238 | [1] |
[1] | Pro forma. | |
[2] | Pro forma view considering 80 % phase-in according to CRR transitional rules. |
Impact on Regulatory Capital152
Impact on Regulatory Capital, RWA, and Leverage Exposure 2 Transitional rules (Detail) - Transitional rules [Member] € in Billions | Dec. 31, 2017EUR (€) |
Risk Weighted Assets [Member] | |
Impact on Regulatory Capital, RWA, and Leverage Exposure 2 [Line Items] | |
Balance, beginning of period | € 343 |
Changes from | 0 |
DTA RWA / Change of Total Assets | 1 |
SA RWA/ Lower Deductions | 0 |
Balance, end of period | € 344 |
Ratios, beginning of period | 14.80% |
Ratios, end of period | 14.60% |
Change in bps | (15) |
Leverage Exposure [Member] | |
Impact on Regulatory Capital, RWA, and Leverage Exposure 2 [Line Items] | |
Balance, beginning of period | € 1,396 |
Changes from | 0 |
DTA RWA / Change of Total Assets | 0 |
SA RWA/ Lower Deductions | 0 |
Balance, end of period | € 1,396 |
Ratios, beginning of period | 4.10% |
Ratios, end of period | 4.10% |
Change in bps | (3) |