MIRA INFORM REPORT
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Report Date : |
17.03.2012 |
IDENTIFICATION DETAILS
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Name : |
DEUTSCHE BANK AG |
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Registered Office : |
Taunusanlage 12, Frankfurt Am Main, 60325 |
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Country : |
Germany |
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Financials (as on) : |
31.12.2010 |
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Year of Establishment : |
1870 |
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Com. Reg. No.: |
30000 |
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Legal Form : |
Public Parent Company |
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Line of Business : |
Subject is a global investment bank |
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No. of Employees
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102,073 |
RATING & COMMENTS
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MIRA’s Rating : |
Aa |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
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Status : |
Excellent |
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Payment
Behaviour : |
Regular |
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Litigation : |
Clear |
NOTES:
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – September 30th, 2011
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Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
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Germany |
a1 |
a1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
Company name & address
Deutsche Bank AG
Taunusanlage 12
Frankfurt Am Main, 60325
Germany
Tel: 49-69-91000
Fax: 49-69-91034225
Web: www.db.com
Branch Address :
Freiburg Rottecknng 3 79098 Freiburg, germany
Synthesis
Employees: 102,073
Company Type: Public Parent
Corporate Family: 389
Companies
Traded:
XETRA: DBK New York Stock Exchange: DB
Incorporation Date: 1870
Auditor: KPMG AG
Financials in: USD
(Millions)
Fiscal Year End:
31-Dec-2010
Reporting Currency: Euro
Annual Sales: 55,285.7 1
Net Income: 3,059.3
Total Assets: 2,556,499.3 2
Market Value: 44,405.2
(02-Mar-2012)
Business Description
Deutsche Bank AG
is a global investment bank. The Company offers a variety of investment,
financial and related products and services to private individuals, corporate
entities and institutional clients around the world. The Company divisions
include Corporate & Investment Bank (CIB ), Private Clients and Asset
Management ( PCAM ) and Corporate Investments ( CI ). As of December 31, 2010,
the Company operated in 74 countries out of 3,083 branches worldwide, of which
68 % were in Germany. In March 2010, the Company closed the acquisition of Sal.
Oppenheim Group. In April 2010, the Company acquired commercial bank business
in Holland from ABN AMRO Bank N.V. (ABN AMRO). In November 2010, the Company
acquired 51.98% interest in Deutsche Postbank AG. In February 2011, the Company
sold its 9% stake in RTS OAO. In June 2011, Deutsche Bank AG ceased to be
substantial holders in Australian Agricultural Company Limited. For the nine
months ended 30 September 2011, Deutsche BankAG's net interest income increased
25% to EUR26.82B. Net interest income after loan loss provision increased 14%
to EUR11.63B. Net income for the period increased from EUR1.71B to EUR3.99B.
Net interest income reflects higher demand for the Company's credit and money
market services. Net income for the period benefited from positive results of
associates.
Industry
Industry Commercial Banks
ANZSIC 2006: 6221 - Banking
NACE 2002: 6512 - Other
monetary intermediation
NAICS 2002: 52211 - Commercial
Banking
UK SIC 2003: 65121 - Banks
US SIC 1987: 6029 - Commercial
Banks, Not Elsewhere Classified
Key
Executives
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Significant Developments
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* number of significant developments within
the last 12 months |
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News
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Financial Summary
As of 30-Sep-2011
Key Ratios Company Industry
Debt to Equity (MRQ) 3.85
Sales 5 Year Growth -7.15 9.28
Net Profit Margin (TTM) % 14.55 23.51
Return on Assets (TTM) % 0.22 0.88
Return on Equity (TTM) % 10.15 7.73
Stock Snapshot
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Registered No.(DEU): 30000
1 - Profit & Loss Item Exchange Rate: USD 1 = EUR 0.7550783
2 - Balance Sheet Item Exchange Rate: USD 1 = EUR 0.7454064
Corporate Overview
Location
Taunusanlage 12
Frankfurt Am Main, 60325
Germany
Tel: 49-69-91000
Fax: 49-69-91034225
Web: www.db.com
Quote Symbol - Exchange
DBK - XETRA
Sales EUR(mil): 41,745.0
Assets EUR(mil): 1,905,631.0
Employees: 102,073
Fiscal Year End: 31-Dec-2010
Industry: Commercial Banks
Incorporation Date: 1870
Company Type: Public Parent
Quoted Status: Quoted
Registered No.(DEU): 30000
CEO, Chairman of the
Management Board and
Group Executive Committee: Josef
Ackermann
Company Web Links
Company Contact/E-mail
Corporate History/Profile
Employment Opportunities
Executives
Financial Information
Home Page
Investor Relations
News Releases
Products/Services
Contents
Industry Codes
Business Description
Financial Data
Market Data
Shareholders
Subsidiaries
Key Corporate Relationships
Industry Codes
ANZSIC 2006 Codes:
6240 - Financial Asset Investing
6419 - Other Auxiliary Finance and Investment Services
6221 - Banking
6411 - Financial Asset Broking Services
NACE 2002 Codes:
6712 - Security broking and fund management
6512 - Other monetary intermediation
6713 - Activities auxiliary to financial intermediation not
elsewhere classified
6523 - Other financial intermediation not elsewhere classified
NAICS 2002 Codes:
525910 - Open-End Investment Funds
523999 - Miscellaneous Financial Investment Activities
523110 - Investment Banking and Securities Dealing
522293 - International Trade Financing
525920 - Trusts, Estates, and Agency Accounts
52211 - Commercial Banking
523930 - Investment Advice
US SIC 1987:
6733 - Trusts, Except Educational, Religious, and Charitable
6082 - Foreign Trade and International Banking Institutions
6289 - Services Allied With the Exchange of Securities or
Commodities, Not Elsewhere Classified
6282 - Investment Advice
6029 - Commercial Banks, Not Elsewhere Classified
6211 - Security Brokers, Dealers, and Flotation Companies
6722 - Management Investment Offices, Open-End
UK SIC 2003:
6713 - Activities auxiliary to financial intermediation not
elsewhere classified
65121 - Banks
6523 - Other financial intermediation not elsewhere classified
6712 - Security broking and fund management
Business
Description
Deutsche Bank AG
is a global investment bank. The Company offers a variety of investment,
financial and related products and services to private individuals, corporate
entities and institutional clients around the world. The Company divisions
include Corporate & Investment Bank (CIB ), Private Clients and Asset
Management ( PCAM ) and Corporate Investments ( CI ). As of December 31, 2010,
the Company operated in 74 countries out of 3,083 branches worldwide, of which
68 % were in Germany. In March 2010, the Company closed the acquisition of Sal.
Oppenheim Group. In April 2010, the Company acquired commercial bank business
in Holland from ABN AMRO Bank N.V. (ABN AMRO). In November 2010, the Company
acquired 51.98% interest in Deutsche Postbank AG. In February 2011, the Company
sold its 9% stake in RTS OAO. In June 2011, Deutsche Bank AG ceased to be
substantial holders in Australian Agricultural Company Limited. For the nine
months ended 30 September 2011, Deutsche BankAG's net interest income increased
25% to EUR26.82B. Net interest income after loan loss provision increased 14%
to EUR11.63B. Net income for the period increased from EUR1.71B to EUR3.99B.
Net interest income reflects higher demand for the Company's credit and money
market services. Net income for the period benefited from positive results of
associates.
More Business
Descriptions
Deutsche Bank AG
is the largest bank in Germany and the leading financial institution in the
European region. The bank offers a wide range of investment, financial and
related products and services to individuals, corporate entities and
institutional clients around the world. Geographically, the bank operates in
four regions, namely, Germany; Europe, Middle East and Africa (EMEA); Americas
and Asia/Pacific. Deutsche Bank operates its business through three reportable
segments, namely, Corporate and Investment Bank Group (CIB), Private Clients
and Asset Management Group (PCAM), and Corporate Investments (CI). The bank,
through CIB, provides services to large and medium-sized corporations, financial
institutions and sovereign, public sector, and multinational organizations. CIB
includes two sub-divisions, namely, Corporate Banking & Securities
(CB&S) and Global Transaction Banking (GTB). The CB&S sub-division is
involved in the sale and trading of capital market products, corporate advisory
and corporate financing businesses, asset finance and leasing, and commercial
real estate. The CB&S sub-division comprises two businesses: global markets
and corporate finance. The global markets business of CB&S is involved in
the sale, trading and structuring, besides research, of a wide range of
financial products including bonds, commodities, equities, equity-linked
products, exchange traded and OTC derivatives, foreign exchange, money market
instruments, asset- and residential mortgage-backed securities and hybrid
instruments. The corporate finance business of CB&S offers merger and
acquisition advisory and general corporate finance advisory services, leveraged
debt and equity origination services, and a variety of credit products and
financial services. In addition, it provides a variety of financial services to
the public sector and coverage functions related to corporate, financial and
institutional clients globally. In March 2010, the acquisition of Sal. Oppenheim
Group was included in Corporate Division Asset and Wealth Management. For the
fiscal year ended 2010, through CB&S sub-division, the company reported
revenue of € 14,828m, indicating increase of 32% over revenue in 2009. In
2010 CB&S sub-division accounted for 54% of the company's total
revenue.Global Transaction Banking (GTB) division provides trade finance, cash
management and trust and securities services to financial institutions and
corporate clients. The bank's Trust & Securities Services business is a
sub-division of GTB. Deutsche Bank's Alternative Fund Services received the
Best Administrator for Small and Start up Hedge Funds award from HFM Week. In
2010, the acquisition of ABN AMRO Bank N.V. Operations was included in this
segment. For the fiscal year ended 2010, through Global Transaction Banking
(GTB) division, the company reported revenue of €1,291m, indicating increase
of 76% over revenue in 2009. In 2010, Global Transaction Banking (GTB) division
accounted for 4% of the company's total revenue. For the fiscal year ended 2010
the CIB segment reported revenue of €16,119m, indicating increase of 34% over
revenue in 2009. In 2010 Global Transaction Banking (GTB) division accounted
for 59% of the company's total revenue.The PCAM segment provides services to
retail and small corporate customers, affluent and wealthy clients and provides
asset management services to retail and institutional clients. The PCAM
includes two sub-divisions: Asset and Wealth Management (AWM) and Private and
Business Clients (PBC). The AWM is further divided into asset management
business (AM) and the private wealth management business (PWM). The asset
management business of AWM provides traditional asset management, alternative
assets, sophisticated absolute return strategies and real estate asset
management services to institutional clients. In addition, it provides mutual
fund products to its retail clients across the world through its global retail
brands, DWS and DWS Scudder franchises. The PWM business of AWM serves high net
worth individuals and families worldwide, offering wealth management service,
including portfolio management, tax advisory, inheritance planning, and
philanthropic advisory services. In 2010, the acquisition of BHF-Bank
operations are included in Group Division Corporate Investments and then
transferred to Private Wealth Management division within the Corporate Division
Asset and Wealth Management. For the fiscal year ended 2010, through Asset and
Wealth Management (AWM) division, the company reported revenue of €2,717m,
indicating incraese of 44% over revenue in 2009. In 2010, Asset and Wealth
Management (AWM) division accounted for 10% of the company's total revenue.The
PBC sub-division offers banking services to private customers as well as small
and medium-sized businesses. It offers loans, current accounts, deposits,
payment services, securities, mutual funds, and portfolio investment advisory
services to its customers. For the fiscal year ended 2010, through Private and
Business Clients (PBC) division, the company reported revenue of €6,677m,
indicating increase of 161% over revenue in 2009. In 2010, Private and Business
Clients (PBC) division accounted for 24% of the company's total revenue. For
the fiscal year ended 2010, through PCAM segment the company reported revenue
of €9,394m, indicating increase of 111% over revenue in 2009. In 2010, PCAM
segment accounted for 34% of the company's total revenue.The Corporate
Investments (CI) division of the bank provides financial, strategic,
operational and managerial capital to enhance the values of the portfolio
companies in which the CI division made investments. The portfolio includes all
kinds of investments including private equity and venture capital investments,
corporate real estate investments, private equity funds and other non-strategic
investments as well. The bank has interests in Allianz SE and EADS N.V. For the
fiscal year ended 2010, through Corporate Investments (CI) division, the
company reported revenue of €902m, indicating decrease of 80% over revenue in
2009. In 2010, Corporate Investments (CI) division accounted for 3.3% of the
company's total revenue.The bank operates more than 3,083 branches of which
Germany includes 2,087 branches in more than 74 countries in the US, Europe and
Asia. The bank's subsidiary, Deutsche Bank (China) Co. Ltd., opened a new
branch in Tianjin, China to provide treasury products and services, structured
trade and export finance, and onshore sales and customer services support to
financial institutions in China. The bank, in conjunction with the State of
North Carolina and the Town of Cary, opened a new technology development
center, DB Global Technology (DBGT) in Cary to develop a range of leading-edge
applications and software solutions for the businesses of the bank. The bank
also established a new subsidiary called Deutsche Bank DBU in Ukraine to expand
its operations in the Central and Eastern European markets.In April 2011, the
bank entered into an agreement to transfer its credit card business in India to
IndusInd Bank. In March 2011, the bank Sold Frankfurt Towers to DWS Fund for
€600m.
Deutsche Bank AG
(Deutsche Bank) is a global investment bank. The bank offers a wide range of
products and services related to investment, financial and other related
services. The bank offers its products and services principally to private
individuals, corporate entities and institutional clients worldwide. The
products portfolio of bank includes debt, equity, and other securities. In
addition, it provides corporate advisory, corporate lending and transaction
banking services. Deutsche Bank operates through three group divisions, namely,
Corporate and Investment Bank Group (CIB), Private Clients and Asset Management
Group (PCAM), and Corporate Investments (CI). It operates across Europe, North
America, Asia and other markets. Deutsche Bank is headquartered in Frankfurt,
Germany.The bank reported interest income of (Euro) EUR 28,779.00 million
during the fiscal year ended December 2010, an increase of 6.77% over 2009. The
net interest income after loan loss provision of the bank was EUR 14,309.00
million during the fiscal year 2010, an increase of 45.58% over 2009. The net
profit of the bank was EUR 2,310.00 million during the fiscal year 2010, a
decrease of 53.55% from 2009.
All banking
activities
DEUTSCHE BANK AG
is primarily engaged in banks and building societies.
Deutsche Bank
(Germany) is a leading global investment bank with a strong and profitable
private clients franchise. It is also a leader in Germany and Europe,
continuously growing in North America, Asia, and key emerging markets.
Founded in Berlin
in 1870, Deutsche Bank AG provides a wide range of financial services. The
corporate and investment bank division engages in originating, selling,
structuring and trading debt, equity, foreign exchange, commodities, derivative
and money market products. It also provides consulting services for mergers and
acquisitions and general corporate finance advice. The private clients and
asset management division offers various portfolio/fund management products,
including active fund management, passive/quantitative fund management,
alternative investments, discretionary portfolio management, international
payments, letters of credit, guarantees and other cash transactions. The bank
also offers a full slate of traditional banking services, including personal
and business checking and savings accounts, a variety of secured and unsecured
personal and commercial loans, safe deposit boxes, wire transfers, credit card
transaction processing, collections, night depository, debit cards, working
capital credit lines and lock box services. Deutsche Bank is headquartered in
Frankfurt, Germany, and has more than 1,600 branch operations worldwide.
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Strategic Initiatives
Key Organizational
Changes
The corporate
finance business of CB&S offers merger and acquisition advisory and general
corporate finance advisory services, leveraged debt and equity origination
services, and a variety of credit products and financial services. In addition,
it provides a variety of financial services to the public sector and coverage
functions related to corporate, financial and institutional clients globally.
In March 2010, the acquisition of Sal. Oppenheim Group was included in
Corporate Division Asset and Wealth Management. In 2009, The CB&S
sub-division reported revenue of €16,197m, representing 86.14% of the CIB
segment’s total revenue.
The bank's Trust
& Securities Services business is a sub-division of GTB. Deutsche Bank's
Alternative Fund Services received the Best Administrator for Small and Start
up Hedge Funds award from HFM Week. In 2010, the acquisition of ABN AMRO Bank
N.V. Operations was included in this segment. In 2009, the GTB division
reported revenue of €2,606m, accounting for 13.86% of the CIB segment’s
total revenue. In the nine months period ended September 2010, the segment
reported €2,558m, representing 15.64% of the CIB segment's total revenue.
In addition, it
provides mutual fund products to its retail clients across the world through
its global retail brands, DWS and DWS Scudder franchises. The PWM business of
AWM serves high net worth individuals and families worldwide, offering wealth
management service, including portfolio management, tax advisory, inheritance
planning, and philanthropic advisory services. In 2010, the acquisition of
BHF-Bank operations are included in Group Division Corporate Investments and
then transferred to Private Wealth Management division within the Corporate
Division Asset and Wealth Management. In 2009, the AWM division reported
revenue of €2,688m, representing 32.5% of the PCAM segment’s total revenue.
In the nine months period ended September 2010, the segment reported €2,883m,
representing 40.07% of the PCAM segment's total revenue.
In October 2010,
the bank consolidated its exchange traded derivative products to provide
clearing services. It also expands its FX4Cash capabilities in Czech Republic,
Poland, Switzerland, Turkey and UAE markets. In September 2010, it approved the
acquisition of Deutsche Postbank AG. In July 2010, Deutsche Bank established
ECM Execution Group to expand its Equity Capital Markets platform and Global
Foreign Exchange.GlobalData uses a range of research techniques to gather and
verify its information and analysis. These include primary research, in-house
knowledge and expertise, proprietary databases, and secondary sources such as
company websites, annual reports, SEC filings and press releases.
Partnerships
We have created
decisive optionality to achieve this goal. Our minority stake in Deutsche
Postbank, with an exclusive option to take a majority position, would give us a
commanding lead in retail banking in Germany. During 2009, we started our
strategic co-operation with Postbank, and the results of this collaboration
have exceeded our expectations. In October, we signed an agreement to purchase
Sal. Oppenheim, a well renowned German private wealth manager with a long
tradition – giving us a leading position in serving wealthy clients in our
home market.
Strategic Initiatives
Key Organizational Changes
The corporate
finance business of CB&S offers merger and acquisition advisory and general
corporate finance advisory services, leveraged debt and equity origination
services, and a variety of credit products and financial services. In addition,
it provides a variety of financial services to the public sector and coverage
functions related to corporate, financial and institutional clients globally.
In March 2010, the acquisition of Sal. Oppenheim Group was included in
Corporate Division Asset and Wealth Management. In 2009, The CB&S
sub-division reported revenue of €16,197m, representing 86.14% of the CIB
segment’s total revenue.
The bank's Trust
& Securities Services business is a sub-division of GTB. Deutsche Bank's
Alternative Fund Services received the Best Administrator for Small and Start
up Hedge Funds award from HFM Week. In 2010, the acquisition of ABN AMRO Bank
N.V. Operations was included in this segment. In 2009, the GTB division
reported revenue of €2,606m, accounting for 13.86% of the CIB segment’s
total revenue. In the nine months period ended September 2010, the segment
reported €2,558m, representing 15.64% of the CIB segment's total revenue.
In addition, it
provides mutual fund products to its retail clients across the world through its
global retail brands, DWS and DWS Scudder franchises. The PWM business of AWM
serves high net worth individuals and families worldwide, offering wealth
management service, including portfolio management, tax advisory, inheritance
planning, and philanthropic advisory services. In 2010, the acquisition of
BHF-Bank operations are included in Group Division Corporate Investments and
then transferred to Private Wealth Management division within the Corporate
Division Asset and Wealth Management. In 2009, the AWM division reported
revenue of €2,688m, representing 32.5% of the PCAM segment’s total revenue.
In the nine months period ended September 2010, the segment reported €2,883m,
representing 40.07% of the PCAM segment's total revenue.
In October 2010,
the bank consolidated its exchange traded derivative products to provide
clearing services. It also expands its FX4Cash capabilities in Czech Republic,
Poland, Switzerland, Turkey and UAE markets. In September 2010, it approved the
acquisition of Deutsche Postbank AG. In July 2010, Deutsche Bank established
ECM Execution Group to expand its Equity Capital Markets platform and Global
Foreign Exchange.GlobalData uses a range of research techniques to gather and
verify its information and analysis. These include primary research, in-house
knowledge and expertise, proprietary databases, and secondary sources such as
company websites, annual reports, SEC filings and press releases.
Partnerships
We have created
decisive optionality to achieve this goal. Our minority stake in Deutsche
Postbank, with an exclusive option to take a majority position, would give us a
commanding lead in retail banking in Germany. During 2009, we started our
strategic co-operation with Postbank, and the results of this collaboration have
exceeded our expectations. In October, we signed an agreement to purchase Sal.
Oppenheim, a well renowned German private wealth manager with a long tradition
– giving us a leading position in serving wealthy clients in
Third, to focus on
Asia as a key driver of revenue growth. Through the crisis, the Asian region
has emerged as an increasingly important constituent of the global economy. Our
goal is to capitalise and build on the investments we have made, and our China
strategy clearly illustrates this. We have a substantial minority stake in Hua
Xia, China’s 10 th largest bank, and via our 30 % stake in Harvest Fund
Management, we are partners in the largest sino-western asset management joint
venture in China. Through our Zhong De joint venture, we can now also issue
bonds and handle IPOs on the Chinese stock exchange.
The second project
is an 8.5 MW solar park located on Thunder Bay International Airport Authority
land with the third being the 10.5 MW project in Thunder Bay on Fort William
First Nation land. Once fully operational, the combined total for these
projects is approximately 30 MW of nameplate capacity and are expected to
create hundreds of new clean energy jobs to further accelerate both the
Canadian Solar EPC turn-key business and the successful completion of these
SkyPower solar parks in Ontario. Dr. Shawn Qu, CEO and president of Canadian
Solar, said, "In continuing with the growth of Canadian Solar and our
working partnership withSkyPower, this next collaboration strengthens our position
as a leader in turnkey solution providers for utility scale and commercial
systems in Ontario. We see great synergy in manufacturing the solar panels and
incorporating them into an overall system design to optimize performance and
value for our customers while contributing to the reduction of our carbon
imprint as a by-product of our joint achievements." The construction of
all three projects is expected to reach completion by third quarter 2011.
Bank of America,
Bank of Tokyo-Mitsubishi UFJ, BNP Paribas, Citibank, Danske Bank,
Handelsbanken, HSBC, JP Morgan, Nordea and Royal Bank of Scotland acted as
Mandated Lead Arrangers and Bookrunners in the transaction and Barclays,
Commerzbank, Credit Agricole, Deutsche Bank, DnB NOR, ING Bank, Santander, SEB,
Societe Generale and Standard Chartered joined as lead arrangers.Sep 04,
2010Deutsche Bank Championship 2010 Sustains Green CommitmentThe Deutsche Bank
Championship announced that it has reaffirmed its commitment to environmental
sustainability and will once again be a carbon neutral event. This year marks
the third season that the Deutsche Bank Championship has achieved net carbon
zero emissions as it remains the only carbon neutral event on the PGA TOUR.The
Deutsche Bank Championship’s extensive sustainability program, in
collaboration with its Founders Club members and suppliers has also been
expanded with several new and improved programs. For 2010, the championship has
partnered with BMW Group (BMW), the official vehicle of the Deutsche Bank
Championship, to provide PGA TOUR players with a fleet of vehicles that
includes the BMW ActiveHybrid 7 series and BMW 335 advanced diesel. The BMW
ActiveHybrid 7 series is 5% more efficient than its non-hybrid counterpart and
is able to run exclusively on electric power and emit zero harmful CO2
emissions up to a speed of 37mph.
Planning
In December, at an
Investor Day in Frankfurt, we launched ‘Phase four’ of our Management
Agenda. Taking account of environmental and internal assumptions which we
outlined at our Investor Day, we believe ‘Phase four’ has a pre-tax profit
potential of € 10 billion from our core businesses in 2011, whilst continuing
to meet our targets of a Tier 1 capital ratio of around 10 % and a leverage
ratio of 25 per target definition. Our overall strategic goal is clear: to be a
leading global corporate and investment bank, supported by a private client
franchise with undisputed leadership in our home market and a strong Asian
growth engine. We have identified four priorities: First, to increase CIB
profitability with renewed risk and balance sheet discipline. Through the
crisis, we have cemented our position as a global leader in corporate and
investment banking, and in 2009 we made an excellent start in delivering
substantial profits with a lower risk profile.
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Helpful |
Harmful |
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Internal Origin |
Strengths ·
Improved Performance of
CIB and PCAM Group Divisio |
Weaknesses |
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External Origin |
Opportunities ·
Launch of New Products
and Services |
Threats |
Overview
Deutsche Bank AG
(Deutsche Bank) is a global investment bank, offering a wide range of
investment, financial and related products and services to individuals,
corporate entities, and institutional clients around the world. The bank has a
worldwide presence with operations in over 74 countries. Strong market position
of the bank and its diversified business lines are its major strengths, under
performance of certain divisions and overall decline in the financial
performance remain areas of concern. Stiff competition, stringent regulations
and sovereign debt crisis may impact its performance in future. However,
strategic acquisitions, launch of new products and services and emerging
markets worldwide could present new growth opportunities for Deutsche Bank.
Strengths
Improved Performance of CIB and PCAM Group Divisio
The group’s
Corporate and investment bank (CIB) division reported an increase of 28% in net
income before income taxes for the fiscal year ended 2010 when compared to the
previous year 2009. The segment reported an income of €5,999m for the year
2010 where as it was €4,314m in 2009. Further the group’s Private clients
and asset management (PCAM) division also reported a net income of €989m for
the fiscal year ended 2010, which was 33.4% more than that of €658m earned in
2009. Such an increase in the incomes of the group divisions reflects the
performance of the group in those concerned segments. Besides this rise in
income will enable the group to increase its scale of operations in those
segments which results in increased profitability and future cash flows.
Decreased VAR of Trading Units
The
capital-markets activities of CB&S continue is a major portion of the
company's risk profile and financial performance. Though the company has
previously suffered huge losses in its proprietary trading and origination
activities, which has been more than the revenue from its customer-initiated
businesses, but the trading units of Corporate & Investment Bank Group
Division reported an average value-at-risk (VAR) of €95.6m in 2010, which is
25% below the 2009 average of €126.8m. This decrease in average VAR was
majorly driven by reduced risk taking and lowers historical volatilities.
Besides this the trading business continued with the recalibration of its
business model towards taking less risk in complex exposures. Such positive
averages in the investment segment of the group will enable it to increase its
overall profitability.
Worldwide Presence
Deutsche Bank is a
global investment bank and its worldwide presence helps it to mitigate risk
associated with concentrated business operations. It is the largest bank in
Germany and one among the largest financial institutions in world especially in
Europe. The company offers a range of investment, financial and related
products and services to private individuals, corporate entities and
institutional clients worldwide. The group functions in three divisions such as
the Corporate & Investment Bank (CIB), Private Clients and Asset Management
(PCAM) and Corporate Investments (CI). As of December 31, 2010, company
operated in 74 countries through 3,083 branches worldwide with the total assets
of around €1,906 billion. Besides this the company has regional major hubs in
New York, London, Frankfurt, Dubai, Singapore, and Tokyo. Overall the bank is
spread across Europe, Americas and the Asia-Pacific regions and continually
spreading its operations worldwide. Such worldwide presence and diversified
product portfolio of the group helps it in reducing the impact of market
volatility and enable the group to offset under performance of one segment with
the other segment, which enhances the economic stability of the company.
Weaknesses
Underperformance
of Corporate Investment Segment
The net revenue of
the group’s corporate investment segment reported a loss of €2,020m for the
fiscal year ended 2010, where as it earned a profit of €1,044m and €1,290m
for the years 2009 and 2008 respectively. The decrease in the revenue is due to
the investment of €2,338m made by the group in Deutsche Postbank AG at the
time of its acquisition. Such decrease in the revenue may influence the overall
profitability of the company and can show a negative impact on the future cash
reserves of the company.
Declined Financial
Performance
The company
reported a net income of €2,310m in 2010 when compared to that of €4,973m
in 2009. The decrease in net income is mainly driven by the decrease in the net
interest income and the net non interest income. The net interest income of the
bank was €15,583m for the fiscal year ended 2010 which was less by 42% than
that of €26,953 in 2009.The non interest income of the bank for the fiscal
year ended 2010 was €12,984m and reported a decrease of 16% from that of
previous year which was €15,493m. Besides this the company’s return on
equity (ROE) was 8.2% for the fiscal year ended 2010 and this was less when
compared to ROE 13.5% in 2009. The decreased income and return on equity will
reflect the inefficiency of the company to use its shareholders money in
generating high returns and such decline in income will show negative impact on
company’s growth.
Opportunities
Launch of New Products and Services
Deutsche Bank AG
has launched a new UCITS III compliant equity fund on January 27, 2010.The
equity fund aims to reduce volatility and draw downs compared with an equity
benchmark by implementing an enhanced option strategy. The group commenced
operations of the Mittelstandsfonds fuer Deutschland fund in the first quarter
of 2010, which is focused on small and medium sized companies from all the
sectors with the turnover of up to €100m and initial capital of €300m. On
October 27, 2010 the group announced the launch of Prism, a guaranteed
liquidity service powered by the Bank’ s Autobahn electronic execution
platform. Prism is the first service to offer aggregated liquidity, with depth
of market, across the complete spectrum of Rates products – Interest Rate
Swaps, US Treasuries and US Treasury Futures. Such new products and services
will help the company in increasing its customer base and to generate good
revenues in future.
Emerging Markets
Drive Global Wealth Market
While the
developed countries are struggling with the effects of the economic downturn,
the emerging economies are reporting a huge inflow of funds for development.
According to the Credit Suisse Research Institute’ s (CSRI) ‘Global Market
Report’, the global wealth held by 4.4 billion adults increased 72% reaching
$195 trillion since 2000. Driven mainly by the economic expansion of emerging
economies, CSRI estimates that global wealth will grow 60% to $314 trillion by
2015. The middle segment of the global wealth pyramid consists of one billions
individuals, who are based in the fast growing economies holding $32 trillion
in global wealth. Of the middle segment, Asia Pacific accounts for the 60% or
587 million individuals with China being the third-largest wealth generator in
the world only after the US and Japan. The group’s wealth management and
asset management segment will find ample growth opportunities in such
fast-growing economies.
Strategic
Acquisitions
On December 3,
2010, the group announced that it had gained control over Postbank by acquiring
113.7m Postbank shares at €1,205m. Post bank is one of the major providers of
banking and other financial services in Germany, with €240 billion assets and
1100 branches providing services to 14m customers. This combination of both the
entities will offer significant cost and revenue synergy potential and growth
opportunities to the group which help in strengthening and diversifying its
services to the increased volumes in retail customers generating good earnings.
Besides this the bank also completed its acquisition with ABN AMRO Bank in
Netherlands and Luxembourg-based Sal. Oppenheim jr. & Cie. S.C.A in
2010.This acquisitions enables the Group to strengthen its Asset and Wealth
Management activities in Europe. The acquisition with ABN AMRO will rank the
group as the fourth largest provider of commercial banking services in
Netherlands, which helps it in achieving its strategy of expanding its classic
banking businesses. Such strategic acquisitions would help the group to expand
its product portfolio and get increased returns by launching new services to
customers.
Threats
Sovereign Debt Crisis
The global
economic slowdown and recovery scenario are likely to create challenges for the
company over the next few years. Refinancing needs close to €300 billion,
according to the IMF, bonds maturing in the PIIGS countries (Portugal, Ireland,
Italy, Greece and Spain) are expected to spill over to other regions resulting
in adverse feedback loop. Policy responses would be required to ensure confidence
across financial systems and economic recovery. Significant roll over needs in
the PIIGS are expected to create pressure on bond markets with those of the US,
the UK, Japan, and other Eurozone having simultaneous funding needs. As a
result, banks are expected to face difficulty in managing portfolio risks in
the Eurozone. The global economic slowdown, which began in 2008, coupled with
the recent European sovereign debt crisis, poses challenges to financial
institutions across the world. In early 2010, fears of a sovereign debt crisis
led to concerns about some European countries, including Portugal, Ireland,
Italy, Greece, Spain, and Belgium. Such crises could lead to increasing
deficit, followed by an increase in debt and economy downgrades, ultimately leading
to high defaults. Continuation of the adverse economic conditions for long
periods may affect the company’s business activities and its assets. A
prolonged global recession could adversely affect the company’s earnings, and
could continue to exert pressure on its equity returns.
Stringent Regulations
The Dodd-Frank
Wall Street Reform and Consumer Protection Act (Dodd-Frank Act) of the US is
expected to incorporate comprehensive changes to the regulation of banks and
bank holding companies. Dodd-Frank Act is expected to introduce stringent
capital, liquidity, and leverage ratio regulations to be adhered to by the
companies operating in the US financial services industry. Stringent
regulations under the Act could limit the companies’ ability in pursuing
business opportunities, lead to the imposition of additional compliance costs
and high interest expenses, and limit fee to all the companies operating in the
US financial services industry. Such regulations, which increase costs and
restrict business growth, could have an adverse effect on the overall business
of the bank.
Stiff Competition
The financial
services markets are highly competitive which could adversely affect
profitability of the bank if it fails to retain and attract clients and
customers. Deutsche Bank faces stiff competition from commercial banks, savings
banks, other public sector banks, brokers and dealers, investment banking
firms, insurance companies, investment advisors, mutual funds, and hedge funds.
Principally, the bank competes with UBS AG, Credit Suisse Group AG, JPMorgan
Chase & Co., HSBC Holdings plc, Barclays PLC, and Bank of America
Corporation. The bank competes on a number of factors which include, but are
not limited to, transaction execution, products and services, innovation,
reputation, and price. The bank could come up with an innovative way of serving
its customers so as to sustain itself in the highly competitive financial
services market.
|
Corporate
Family |
Corporate
Structure News: |
|
|
|
|
Deutsche Bank AG |
|
|
|
|
|
|
|
|
Company
Name |
Company Type |
Location |
Country |
Industry |
Sales |
Employees |
|
Deutsche Bank AG |
Parent |
Frankfurt Am Main |
Germany |
Commercial Banks |
55,285.7 |
102,073 |
|
Deutsche Bank Aktiengesellschaft |
Subsidiary |
|
|
|
|
28,497 |
|
Deutsche Postbank AG |
Subsidiary |
Bonn |
Germany |
Commercial Banks |
11,241.2 |
19,800 |
|
Postbank Filialvertrieb AG |
Subsidiary |
Bonn, Nordrhein-Westfalen |
Germany |
Commercial Banks |
1,053.9 |
5,141 |
|
Betriebs-Center für Banken AG |
Subsidiary |
Frankfurt Am Main, Hessen |
Germany |
Computer Services |
466.7 |
1,821 |
|
Betriebs-Center für Banken Processing
GmbH |
Subsidiary |
Frankfurt Am Main, Hessen |
Germany |
Miscellaneous Financial Services |
14.4 |
24 |
|
Postbank Systems AG |
Subsidiary |
Bonn |
Germany |
Computer Services |
541.9 |
1,380 |
|
Postbank Direkt GmbH |
Subsidiary |
Bonn, Nordrhein-Westfalen |
Germany |
Business Services |
|
507 |
|
Subsidiary |
Bonn, Nordrhein-Westfalen |
Germany |
Business Services |
144.9 |
345 |
|
|
Deutsche Postbank International SA |
Subsidiary |
Munsbach |
Luxembourg |
Commercial Banks |
|
179 |
|
VÖB-ZVD Bank für
Zahlungsverkehrsdienstleistungen GmbH |
Subsidiary |
Bonn, Nordrhein-Westfalen |
Germany |
Commercial Banks |
|
62 |
|
Deutsche Postbank Financial Services GmbH |
Subsidiary |
Frankfurt Am Main, Hessen |
Germany |
Consumer Financial Services |
|
45 |
|
Postbank Akademie und Service GmbH |
Subsidiary |
Hameln, Niedersachsen |
Germany |
Schools |
|
34 |
|
Postbank P.O.S. Transact GmbH |
Subsidiary |
Eschborn, Hessen |
Germany |
Miscellaneous Financial Services |
44.1 |
25 |
|
PB Factoring GmbH |
Subsidiary |
Bonn, Nordrhein-Westfalen |
Germany |
Business Services |
|
15 |
|
Subsidiary |
Bonn, Nordrhein-Westfalen |
Germany |
Rental and Leasing |
66.5 |
4 |
|
|
Subsidiary |
Bonn, Nordrhein-Westfalen |
Germany |
Consumer Financial Services |
|
3 |
|
|
Subsidiary |
Köln, Nordrhein-Westfalen |
Germany |
Computer Services |
20.1 |
198 |
|
|
Subsidiary |
Bonn, Nordrhein-Westfalen |
Germany |
Real Estate Operations |
|
2 |
|
|
Subsidiary |
Bonn, Nordrhein-Westfalen |
Germany |
Consumer Financial Services |
|
1 |
|
|
Subsidiary |
Hameln, Niedersachsen |
Germany |
Miscellaneous Financial Services |
7.7 |
|
|
|
Subsidiary |
Senningerberg |
Luxembourg |
Commercial Banks |
|
|
|
|
Subsidiary |
New York, NY |
United States |
Commercial Banks |
1,000.0 |
5,000 |
|
|
Subsidiary |
Luxembourg |
Luxembourg |
Commercial Banks |
|
4,330 |
|
|
Subsidiary |
Milano |
Italy |
Commercial Banks |
|
3,094 |
|
|
Subsidiary |
Milano, Milano |
Italy |
Commercial Banks |
|
90 |
|
|
Subsidiary |
Milano, Milano |
Italy |
Commercial Banks |
|
65 |
|
|
Subsidiary |
Milano, Milano |
Italy |
Commercial Banks |
|
2 |
|
|
Subsidiary |
Warszawa |
Poland |
Commercial Banks |
|
2,344 |
|
|
Subsidiary |
Singapore |
Singapore |
Investment Services |
|
2,000 |
|
|
Subsidiary |
Tokyo |
Japan |
Miscellaneous Financial Services |
|
851 |
|
|
Branch |
Surabaya |
Indonesia |
Miscellaneous Financial Services |
1.0 |
300 |
|
|
Subsidiary |
Sydney, NSW |
Australia |
Miscellaneous Financial Services |
62.8 |
260 |
|
|
Subsidiary |
New Delhi |
India |
Miscellaneous Financial Services |
1.0 |
150 |
|
|
Branch |
Tokyo |
Japan |
Commercial Banks |
|
130 |
|
|
Subsidiary |
Auckland |
New Zealand |
Investment Services |
341.7 |
75 |
|
|
Subsidiary |
Colombo |
Sri Lanka |
Miscellaneous Financial Services |
|
50 |
|
|
Subsidiary |
Hong Kong |
Hong Kong |
Investment Services |
1.0 |
40 |
|
|
Subsidiary |
Lahore |
Pakistan |
Commercial Banks |
|
25 |
|
|
Subsidiary |
Tokyo |
Japan |
Commercial Banks |
|
22 |
|
|
Subsidiary |
Seoul |
Korea, Republic of |
Investment Services |
16,272.4 |
|
|
|
Branch |
Beijing |
China |
Commercial Banks |
|
|
|
|
Subsidiary |
Frankfurt am Main |
Germany |
Commercial Banks |
|
1,992 |
|
|
FRANKFURT-TRUST
Investment-Gesellschaft mit beschränkter Haftung |
Subsidiary |
Frankfurt Am Main, Hessen |
Germany |
Investment Services |
|
72 |
|
Subsidiary |
Frankfurt |
Germany |
Miscellaneous Financial Services |
2.5 |
|
|
|
Subsidiary |
Zürich |
Switzerland |
Commercial Banks |
|
70 |
|
|
Subsidiary |
Luxembourg |
Luxembourg |
Commercial Banks |
|
35 |
|
|
BHF Trust
Management Gesellschaft für Vermögensverwaltung mbH |
Subsidiary |
Frankfurt Am Main, Hessen |
Germany |
Commercial Banks |
|
25 |
|
Subsidiary |
Frankfurt Am Main, Hessen |
Germany |
Business Services |
|
4 |
|
|
Subsidiary |
Frankfurt Am Main, Hessen |
Germany |
Commercial Banks |
|
2 |
|
|
Subsidiary |
Frankfurt Am Main, Hessen |
Germany |
Business Services |
|
2 |
|
|
Subsidiary |
Frankfurt Am Main, Hessen |
Germany |
Commercial Banks |
|
2 |
|
|
BHF
Grundbesitz-Verwaltungsgesellschaft mbH & Co. am Kaiserlei oHG |
Subsidiary |
Frankfurt Am Main, Hessen |
Germany |
Real Estate Operations |
|
1 |
|
Subsidiary |
Frankfurt Am Main, Hessen |
Germany |
Real Estate Operations |
|
1 |
|
|
Subsidiary |
Luxembourg |
Luxembourg |
Commercial Banks |
|
|
|
|
Subsidiary |
New York, NY |
United States |
Miscellaneous Financial Services |
|
1,600 |
|
|
Subsidiary |
Totowa, NJ |
United States |
Computer Services |
|
160 |
|
|
Branch |
Toronto, ON |
Canada |
Commercial Banks |
|
100 |
|
|
Branch |
Costa Mesa, CA |
United States |
Investment Services |
6.4 |
20 |
|
|
Subsidiary |
New York, NY |
United States |
Miscellaneous Financial Services |
2,920.0 |
|
|
|
Branch |
Boston, MA |
United States |
Investment Services |
48.3 |
150 |
|
|
Subsidiary |
New York, NY |
United States |
Miscellaneous Financial Services |
875.0 |
|
|
|
Subsidiary |
New York, NY |
United States |
Investment Services |
75.0 |
|
|
|
Branch |
Boston, MA |
United States |
Investment Services |
44.2 |
110 |
|
|
Branch |
Los Angeles, CA |
United States |
Investment Services |
35.8 |
100 |
|
|
Branch |
Atlanta, GA |
United States |
Investment Services |
18.5 |
46 |
|
|
Branch |
Washington, DC |
United States |
Insurance (Property and Casualty) |
32.1 |
35 |
|
|
Branch |
Dallas, TX |
United States |
Investment Services |
10.1 |
25 |
|
|
Subsidiary |
New York, NY |
United States |
Retail (Specialty) |
|
|
|
|
Subsidiary |
Sydney, NSW |
Australia |
Commercial Banks |
1,000.7 |
1,000 |
|
|
Branch |
Sydney, NSW |
Australia |
Investment Services |
1.0 |
100 |
|
|
Subsidiary |
New York, NY |
United States |
Computer Services |
|
850 |
|
|
Subsidiary |
Geneva |
Switzerland |
Commercial Banks |
|
724 |
|
|
Subsidiary |
Frankfurt Am Main, Hessen |
Germany |
Commercial Banks |
|
620 |
|
|
Subsidiary |
Frankfurt Am Main, Hessen |
Germany |
Commercial Banks |
34.7 |
493 |
|
|
Subsidiary |
Frankfurt Am Main, Hessen |
Germany |
Commercial Banks |
26.7 |
261 |
|
|
Vertriebsgesellschaft
mbH der Deutschen Bank Privat- und Geschäftskunden |
Subsidiary |
Berlin, Berlin |
Germany |
Business Services |
14.2 |
45 |
|
Subsidiary |
Bruxelles |
Belgium |
Commercial Banks |
|
555 |
|
|
Subsidiary |
Singapore |
Singapore |
Investment Services |
208.9 |
524 |
|
|
Subsidiary |
Frankfurt Am Main, Hessen |
Germany |
Investment Services |
|
450 |
|
|
Subsidiary |
Luxembourg |
Luxembourg |
Miscellaneous Financial Services |
|
100 |
|
|
Subsidiary |
Zurich |
Switzerland |
Miscellaneous Financial Services |
|
70 |
|
|
Subsidiary |
Lisboa |
Portugal |
Commercial Banks |
|
439 |
|
|
Subsidiary |
São Paulo , São Paulo |
Brazil |
Commercial Banks |
271.0 |
350 |
|
|
Subsidiary |
Luxembourg |
Luxembourg |
Commercial Banks |
|
331 |
|
|
Subsidiary |
Singapore |
Singapore |
Commercial Banks |
49.8 |
330 |
|
|
Subsidiary |
Seoul, Seoul |
Korea, Republic of |
Investment Services |
|
15 |
|
|
Subsidiary |
São Paulo, SP |
Brazil |
Commercial Banks |
|
315 |
|
|
Branch |
Jakarta |
Indonesia |
Commercial Banks |
|
288 |
|
|
Subsidiary |
Paris |
France |
Commercial Banks |
|
260 |
|
|
Subsidiary |
Boston, MA |
United States |
Real Estate Operations |
182.8 |
250 |
|
|
Subsidiary |
Boston, MA |
United States |
Real Estate Operations |
|
90 |
|
|
Subsidiary |
Laurel, MD |
United States |
Real Estate Operations |
|
12 |
|
|
Branch |
Norwood, MA |
United States |
Real Estate Operations |
5.9 |
30 |
|
|
Branch |
Philadelphia, PA |
United States |
Real Estate Operations |
5.1 |
26 |
|
|
Subsidiary |
Dallas, TX |
United States |
Real Estate Operations |
|
11 |
|
|
Branch |
Dallas, TX |
United States |
Real Estate Operations |
5.1 |
26 |
|
|
Subsidiary |
Kingwood, TX |
United States |
Real Estate Operations |
|
5 |
|
|
Subsidiary |
Roswell, GA |
United States |
Real Estate Operations |
|
|
|
|
Subsidiary |
Orlando, FL |
United States |
Real Estate Operations |
|
|
|
|
Subsidiary |
Trollhätan |
Sweden |
Business Services |
175.0 |
250 |
|
|
Subsidiary |
Warszawa |
Poland |
Commercial Banks |
|
212 |
|
|
Subsidiary |
Box Hill, VIC |
Australia |
Rental and Leasing |
61.0 |
200 |
|
|
Subsidiary |
Port Louis |
Mauritius |
Commercial Banks |
|
200 |
|
|
Subsidiary |
Kuala Lumpur |
Malaysia |
Commercial Banks |
|
200 |
|
|
Subsidiary |
Düsseldorf, Nordrhein-Westfalen |
Germany |
Real Estate Operations |
|
190 |
|
|
Subsidiary |
Duesseldorf |
Germany |
Real Estate Operations |
1.0 |
|
|
|
SUBLICA
Grundstücks-Vermietungsgesellschaft mbh & Co. Objekt Promohypermarkt
Gelsenkirchen K |
Subsidiary |
Düsseldorf, Nordrhein-Westfalen |
Germany |
Real Estate Operations |
|
|
|
Subsidiary |
Makati City |
Philippines |
Commercial Banks |
|
175 |
|
|
Subsidiary |
Taipei |
Taiwan |
Commercial Banks |
145.0 |
150 |
|
|
Subsidiary |
Berlin |
Germany |
Commercial Banks |
|
150 |
|
|
Subsidiary |
Cairo |
Egypt |
Commercial Banks |
82.0 |
100 |
|
|
Subsidiary |
Toronto, ON |
Canada |
Miscellaneous Financial Services |
64.8 |
100 |
|
|
Deutsche
Bank México, S.A., Institución de Banca Múltiple |
Subsidiary |
México, D.F. |
Mexico |
Commercial Banks |
|
100 |
|
Subsidiary |
Derby |
United Kingdom |
Commercial Banks |
|
100 |
|
|
Subsidiary |
Santiago |
Chile |
Commercial Banks |
|
100 |
|
|
Subsidiary |
Buenos Aires |
Argentina |
Commercial Banks |
|
95 |
|
|
Subsidiary |
Frankfurt Am Main, Hessen |
Germany |
Business Services |
17.0 |
81 |
|
|
Subsidiary |
San Francisco, CA |
United States |
Real Estate Operations |
|
100 |
|
|
Branch |
Chicago, IL |
United States |
Real Estate Operations |
26.8 |
200 |
|
|
Branch |
Seattle, WA |
United States |
Business Services |
4.7 |
35 |
|
|
Branch |
Chicago, IL |
United States |
Real Estate Operations |
4.6 |
23 |
|
|
Subsidiary |
Frankfurt Am Main, Hessen |
Germany |
Investment Services |
|
92 |
|
|
Subsidiary |
Frankfurt Am Main, Hessen |
Germany |
Real Estate Operations |
|
2 |
|
|
Subsidiary |
Eschborn, Hessen |
Germany |
Food Processing |
|
|
|
|
Subsidiary |
Eschborn, Hessen |
Germany |
Construction Services |
|
1 |
|
|
DI Deutsche
Immobilien Baugesellschaft mbH & Co. Vermietungs KG |
Subsidiary |
Frankfurt Am Main, Hessen |
Germany |
Real Estate Operations |
|
|
|
Subsidiary |
Karachi |
Pakistan |
Commercial Banks |
|
80 |
|
|
Subsidiary |
Sydney, NSW |
Australia |
Investment Services |
|
65 |
|
|
Subsidiary |
Budapest |
Hungary |
Commercial Banks |
|
61 |
|
|
Subsidiary |
Singapore |
Singapore |
Investment Services |
|
60 |
|
|
Subsidiary |
Tokyo |
Japan |
Miscellaneous Financial Services |
1.0 |
|
|
|
Branch |
Ho Chi Minh City |
Viet Nam |
Commercial Banks |
2.0 |
55 |
|
|
Subsidiary |
Berlin |
Germany |
Motion Pictures |
33.7 |
35 |
|
|
Subsidiary |
Berlin, Berlin |
Germany |
Motion Pictures |
|
50 |
|
|
Subsidiary |
Berlin, Berlin |
Germany |
Consumer Financial Services |
14.4 |
11 |
|
|
Subsidiary |
Carlsbad, CA |
United States |
Investment Services |
11.3 |
35 |
|
|
Subsidiary |
Paris |
France |
Miscellaneous Financial Services |
3.9 |
34 |
|
|
Subsidiary |
Grasbrunn, Bayern |
Germany |
Commercial Banks |
|
30 |
|
|
Subsidiary |
Milano, Milano |
Italy |
Business Services |
|
28 |
|
|
Subsidiary |
Frankfurt Am Main, Hessen |
Germany |
Business Services |
14.7 |
23 |
|
|
Subsidiary |
Lima |
Peru |
Commercial Banks |
|
21 |
|
|
Subsidiary |
Frankfurt Am Main, Hessen |
Germany |
Investment Services |
|
21 |
|
|
Subsidiary |
Milano, Milano |
Italy |
Commercial Banks |
|
15 |
|
|
Subsidiary |
London |
United Kingdom |
Commercial Banks |
|
14 |
|
|
Subsidiary |
Perth, WA |
Australia |
Gold and Silver |
118.1 |
12 |
|
|
Subsidiary |
Milano, Milano |
Italy |
Miscellaneous Financial Services |
|
12 |
|
|
Subsidiary |
Milano, Milano |
Italy |
Business Services |
7.0 |
9 |
|
|
Subsidiary |
Paris |
France |
Miscellaneous Transportation |
15.0 |
300 |
|
|
Subsidiary |
Paris |
France |
Miscellaneous Capital Goods |
35.8 |
269 |
|
|
Subsidiary |
Paris |
France |
Retail (Specialty) |
102.2 |
82 |
|
|
Subsidiary |
Paris |
France |
Apparel and Accessories |
1.0 |
1 |
|
|
Subsidiary |
Paris |
France |
Miscellaneous Transportation |
2.3 |
|
|
|
Subsidiary |
Eschborn, Hessen |
Germany |
Consumer Financial Services |
|
4 |
|
|
Subsidiary |
Frankfurt Am Main, Hessen |
Germany |
Commercial Banks |
|
4 |
|
|
Subsidiary |
Alveslohe, Schleswig-Holstein |
Germany |
Recreational Activities |
|
20 |
|
|
Subsidiary |
Frankfurt |
Germany |
Miscellaneous Financial Services |
4,342.1 |
3 |
|
|
Deutsche
Gesellschaft für Immobilien-Leasing mit beschränkter Haftung |
Subsidiary |
Düsseldorf, Nordrhein-Westfalen |
Germany |
Business Services |
|
3 |
|
Subsidiary |
Frankfurt |
Germany |
Business Services |
4,632.7 |
2 |
|
|
Subsidiary |
Köln |
Germany |
Commercial Banks |
|
1,100 |
|
|
Subsidiary |
Köln, Nordrhein-Westfalen |
Germany |
Investment Services |
|
181 |
|
|
Subsidiary |
Zürich |
Switzerland |
Commercial Banks |
|
158 |
|
|
Subsidiary |
Frankfurt am Main |
Germany |
Commercial Banks |
|
115 |
|
|
Subsidiary |
Frankfurt Am Main, Hessen |
Germany |
Investment Services |
|
105 |
|
|
Subsidiary |
Köln, Nordrhein-Westfalen |
Germany |
Consumer Financial Services |
108.9 |
50 |
|
|
Subsidiary |
Köln, Nordrhein-Westfalen |
Germany |
Consumer Financial Services |
|
48 |
|
|
Subsidiary |
Köln, Nordrhein-Westfalen |
Germany |
Commercial Banks |
|
3 |
|
|
Subsidiary |
Rödermark, Hessen |
Germany |
Software and Programming |
|
30 |
|
|
Subsidiary |
Köln, Nordrhein-Westfalen |
Germany |
Consumer Financial Services |
|
3 |
|
|
Subsidiary |
Köln, Nordrhein-Westfalen |
Germany |
Business Services |
|
2 |
|
|
Subsidiary |
Berlin, Berlin |
Germany |
Commercial Banks |
|
470 |
|
|
Subsidiary |
Frankfurt Am Main, Hessen |
Germany |
Commercial Banks |
133.6 |
400 |
|
|
Subsidiary |
Frankfurt Am Main, Hessen |
Germany |
Miscellaneous Financial Services |
|
220 |
|
|
Subsidiary |
Berlin, Berlin |
Germany |
Investment Services |
45.7 |
400 |
|
|
Subsidiary |
Eschborn, Hessen |
Germany |
Consumer Financial Services |
39.1 |
283 |
|
|
Subsidiary |
Frankfurt am Main |
Germany |
Commercial Banks |
|
247 |
|
|
Subsidiary |
Essen, Nordrhein-Westfalen |
Germany |
Miscellaneous Financial Services |
11.5 |
100 |
|
|
Subsidiary |
Frankfurt Am Main, Hessen |
Germany |
Commercial Banks |
26.7 |
86 |
|
|
Subsidiary |
Eschborn, Hessen |
Germany |
Consumer Financial Services |
|
33 |
|
|
Subsidiary |
Hamburg, Hamburg |
Germany |
Miscellaneous Financial Services |
|
32 |
|
|
Subsidiary |
Frankfurt Am Main, Hessen |
Germany |
Consumer Financial Services |
|
5 |
|
|
Deutsche
Asset Management Investmentgesellschaft mbH vormals DEGEF Deutsche
Gesellschaft für |
Subsidiary |
Frankfurt Am Main, Hessen |
Germany |
Investment Services |
|
189 |
|
Subsidiary |
Frankfurt Am Main, Hessen |
Germany |
Commercial Banks |
|
2 |
|
|
Subsidiary |
Frankfurt Am Main, Hessen |
Germany |
Commercial Banks |
|
1 |
|
|
Subsidiary |
Eschborn, Hessen |
Germany |
Miscellaneous Financial Services |
|
|
|
|
Subsidiary |
Eschborn, Hessen |
Germany |
Consumer Financial Services |
|
3 |
|
|
Subsidiary |
Eschborn, Hessen |
Germany |
Commercial Banks |
|
3 |
|
|
Subsidiary |
Frankfurt Am Main, Hessen |
Germany |
Investment Services |
|
|
|
|
Subsidiary |
Frankfurt |
Germany |
Business Services |
2,427.4 |
2 |
|
|
Subsidiary |
Frankfurt Am Main, Hessen |
Germany |
Commercial Banks |
|
2 |
|
|
Subsidiary |
Frankfurt Am Main, Hessen |
Germany |
Consumer Financial Services |
|
2 |
|
|
Subsidiary |
Frankfurt Am Main, Hessen |
Germany |
Real Estate Operations |
|
2 |
|
|
Subsidiary |
Böblingen, Baden-Württemberg |
Germany |
Business Services |
2.3 |
3 |
|
|
Subsidiary |
Frankfurt Am Main, Hessen |
Germany |
Commercial Banks |
|
2 |
|
|
Subsidiary |
Frankfurt Am Main, Hessen |
Germany |
Commercial Banks |
|
2 |
|
|
Subsidiary |
Frankfurt Am Main, Hessen |
Germany |
Commercial Banks |
|
1 |
|
|
Subsidiary |
Puteaux |
France |
Computer Services |
|
1 |
|
|
Subsidiary |
Paris |
France |
Business Services |
0.0 |
|
|
|
Subsidiary |
Amsterdam Zuidoost, Noord-Holland |
Netherlands |
Miscellaneous Financial Services |
|
1 |
|
|
Subsidiary |
Eschborn |
Germany |
Real Estate Operations |
125.0 |
|
|
|
Subsidiary |
Eschborn, Hessen |
Germany |
Business Services |
64.2 |
|
|
|
Subsidiary |
Frankfurt |
Germany |
Business Services |
0.7 |
|
|
|
Subsidiary |
Dublin |
Ireland |
Consumer Financial Services |
0.1 |
|
|
|
Hessische
Immobilien-Verwaltungs-Gesellschaft mit beschränkter Haftung |
Subsidiary |
Eschborn, Hessen |
Germany |
Business Services |
|
|
|
Subsidiary |
Düsseldorf, Nordrhein-Westfalen |
Germany |
Miscellaneous Capital Goods |
|
|
|
|
Subsidiary |
Paris |
France |
Miscellaneous Financial Services |
|
|
|
|
Subsidiary |
Riyadh, Ar Riyad |
Saudi Arabia |
Commercial Banks |
|
|
|
|
Subsidiary |
Mumbai |
India |
Commercial Banks |
|
|
|
|
Subsidiary |
London |
United Kingdom |
|
|
|
|
|
Subsidiary |
Liverpool |
United Kingdom |
Business Services |
|
|
|
|
Subsidiary |
Liverpool |
United Kingdom |
Investment Services |
17.3 |
|
|
|
Subsidiary |
London |
United Kingdom |
Commercial Banks |
|
|
|
|
Subsidiary |
London |
United Kingdom |
Commercial Banks |
|
|
|
|
Subsidiary |
Abu Dhabi |
United Arab Emirates |
Commercial Banks |
|
|
|
|
Subsidiary |
London |
United Kingdom |
Business Services |
|
|
|
|
Subsidiary |
London |
United Kingdom |
Insurance (Life) |
317.6 |
37 |
|
|
Subsidiary |
London |
United Kingdom |
Nonclassifiable Industries |
|
|
|
|
Subsidiary |
London |
United Kingdom |
|
|
|
|
|
Subsidiary |
Rotterdam |
Netherlands |
Investment Services |
|
|
|
|
Subsidiary |
|
|
|
|
|
|
|
Branch |
Pu Dong, Shanghai |
China |
Commercial Banks |
|
|
|
|
Subsidiary |
Athens |
Greece |
Commercial Banks |
|
|
|
|
Branch |
Surabaya |
Indonesia |
Commercial Banks |
|
|
|
|
Subsidiary |
Frankfurt |
Germany |
Commercial Banks |
|
|
|
|
Branch |
Berlin |
Germany |
Commercial Banks |
|
2,500 |
|
|
Subsidiary |
Amsterdam Zuidoost, Noord-Holland |
Netherlands |
Investment Services |
|
|
|
|
Subsidiary |
Paris |
France |
Investment Services |
|
|
|
|
Subsidiary |
Frankfurt Am Main, Hessen |
Germany |
Commercial Banks |
|
|
|
|
Subsidiary |
Warsaw |
Poland |
Commercial Banks |
|
|
|
|
Subsidiary |
Redhill |
United Kingdom |
Commercial Banks |
|
|
|
|
Subsidiary |
Kenley |
United Kingdom |
Construction - Raw Materials |
4.5 |
18 |
|
|
Subsidiary |
Sheffield |
United Kingdom |
Miscellaneous Fabricated Products |
1.9 |
9 |
|
|
Subsidiary |
Redhill |
United Kingdom |
Business Services |
1.2 |
7 |
|
|
Subsidiary |
Redhill |
United Kingdom |
Commercial Banks |
7.8 |
|
|
|
Subsidiary |
Redhill |
United Kingdom |
Water Utilities |
84.4 |
234 |
|
|
Subsidiary |
Redhill |
United Kingdom |
Real Estate Operations |
0.4 |
|
|
|
Subsidiary |
Redhill |
United Kingdom |
Commercial Banks |
|
|
|
|
Subsidiary |
Redhill |
United Kingdom |
Construction Services |
9.3 |
69 |
|
|
Subsidiary |
Redhill |
United Kingdom |
Business Services |
|
|
|
|
Subsidiary |
Redhill |
United Kingdom |
Nonclassifiable Industries |
|
|
|
|
Subsidiary |
Redhill |
United Kingdom |
Construction Services |
|
|
|
|
Subsidiary |
Redhill |
United Kingdom |
Nonclassifiable Industries |
|
|
|
|
Subsidiary |
Hamburg |
Germany |
Consumer Financial Services |
|
|
|
|
Subsidiary |
Central |
Hong Kong |
Commercial Banks |
|
|
|
|
Subsidiary |
Montevideo |
Uruguay |
Miscellaneous Financial Services |
|
|
|
|
Subsidiary |
Ashgabat |
Turkmenistan |
Commercial Banks |
|
|
|
|
Subsidiary |
Zürich |
Switzerland |
Commercial Banks |
|
|
|
|
Subsidiary |
Lugano |
Switzerland |
Commercial Banks |
|
|
|
|
Subsidiary |
Frankfurt Am Main, Hessen |
Germany |
Consumer Financial Services |
|
|
|
|
Subsidiary |
Kiev |
Ukraine |
Commercial Banks |
|
|
Competitors Report
|
CompanyName |
Location |
Employees |
Ownership |
|
Bank of America Corp |
Charlotte, North Carolina, United States |
284,635 |
Public |
|
Bank of China Limited |
Xicheng District, China |
281,762 |
Public |
|
Barclays PLC |
London, United Kingdom |
146,100 |
Public |
|
Citigroup Inc. |
New York, New York, United States |
266,000 |
Public |
|
Commerzbank AG |
Frankfurt Am Main, Germany |
58,763 |
Public |
|
Credit Suisse Group AG |
Zuerich, Switzerland |
50,700 |
Public |
|
Goldman Sachs Group, Inc. |
New York, New York, United States |
34,700 |
Public |
|
HSBC Holdings plc |
London, United Kingdom |
288,316 |
Public |
|
JPMorgan Chase & Co. |
New York, New York, United States |
260,157 |
Public |
|
Lehman Brothers Holdings Inc. |
New York, New York, United States |
25,935 |
Public |
|
Morgan Stanley |
New York, New York, United States |
61,899 |
Public |
|
Societe Generale SA |
Paris, France |
157,000 |
Public |
|
The Bank of New York Mellon Corp. |
New York, New York, United States |
49,600 |
Public |
|
UBS AG |
Zurich, Switzerland |
65,921 |
Public |
|
Unicredit Bank Ag |
Munich, Bayern, Germany |
20,000 |
Private |
Executive report
|
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tsche Bank AG
Significant Developments
Deutsche Bank AG Ceases To Be Substantial Holder In Echo Entertainment Group Ltd Mar 07, 2012
Echo Entertainment Group Ltd announced that Deutsche Bank AG and its related bodies corporate (Deutsche Bank Group) have ceased to be a substantial holder in the Company as of March 6, 2012. Previously, Deutsche Bank Group held 62,727,086 ordinary shares (9.12% of the voting power) and 574,000 ordinary shares in which a derivative interest is held (0.08% of the voting power).
Deutsche Bank AG Decreases Stake In Challenger Infrastructure Fund Mar 06, 2012
Challenger Infrastructure Fund announced that Deutsche Bank AG and its related bodies corporate have decreased its stake from38,149,368 stapled securities (12.05% of the voting power) to 21,949,024 stapled securities (6.94% of the voting power).
Deutsche Bank AG Acquires Stake In Echo Entertainment Group Ltd Mar 02, 2012
Echo Entertainment Group Ltd announced that Deutsche Bank AG and its related bodies corporate have acquired 62,727,086 ordinary shares (9.12% of the voting power) and 574,000 ordinary shares in which a derivative interest is held (0.08% of the voting power).
Deutsche Bank AG Enters Exclusive Negotiations With Guggenheim Partners Feb 28, 2012
Deutsche Bank AG announced that it is in exclusive negotiations with Guggenheim Partners on the sale of its Asset Management businesses that are subject to a previously-announced strategic review. The businesses include DWS Americas, the Americas mutual fund business; DB Advisors, the global institutional asset management business; Deutsche Insurance Asset Management, the global insurance asset management business; and RREEF, the global alternative asset management business.
SD Standard Drilling Plc Announces Share Acquisition by Deutsche Bank AG Feb 27, 2012
SD Standard Drilling Plc announced that Deutsche Bank AG has acquired 13,690,867 shares in the Company. Following the purchase, Deutsche Bank AG and its subsidiary companies controls 13,690,867 shares, equal to 5.226% of the share capital.
Moody's Warns May Downgrade 17 Global Banks And Securities Firms Including Deutsche Bank AG-Reuters
Feb 16, 2012
Reuters reported that Moody's warned on Thursday it may cut the credit ratings of 17 global and 114 European financial institutions in another sign the impact of the euro zone government debt crisis is spreading throughout the global financial system. It was reviewing the long-term ratings and standalone credit assessments of a range of banks. It said among 17 banks and securities firms with global capital markets operations, it might cut the long-term credit rating of UBS AG, Credit Suisse Group AG and Morgan Stanley by as much as three notches following the review. Among the banks that might be downgraded by two notches are Barclays PLC, BNP Paribas SA, Credit Agricole SA, Deutsche Bank AG, HSBC Holdings plc, and The Goldman Sachs Group, Inc. Bank of America Corporation and Nomura Holdings, Inc. were included in those that might be downgraded by one notch. The U.S. rating agency said in a separate statement its action on 114 financial institutions from 16 European nations reflected the impact of the debt crisis and deteriorating creditworthiness of its governments. Moody's on Thursday also downgraded the insurance financial strength ratings (IFSR) by one or two notches of several insurance companies, which it said related to their investment and operating exposures to Spain and Italy. These included Unipol Assicurazioni S.p.A., Mapfre Global Risks, Assicurazioni Generali SpA and Allianz SpA.
State Street Corporation, JPMorgan Chase & Co. And Ameriprise
Financial, Inc. Bid For Deutsche Bank AG's Unit-Reuters Jan 19, 2012
Reuters reported
that State Street Corporation, JPMorgan Chase & Co. and Ameriprise
Financial, Inc. are among the finalists in the bidding process for Deutsche
Bank AG's asset management division. The bank said in November that it was
considering the sale of many of its global asset management businesses due to
new regulation, rising costs and increasing competition expected to weigh on
future earnings. Deutsche expects the unit could fetch more than $2.58 billion
(EUR2 billion). Final bids are due by late February. The sale would include all
of Deutsche's institutional investor business, DB Advisers, its alternative
asset business, RREEF, an insurance asset management business; and its DWS
Investments mutual fund business in the Americas. DB Advisers has $209 billion
in assets under management. The insurance asset management unit has $193
billion and RREEF has $59 billion.
Deutsche Bank AG,
Morgan Stanley Cut Australia-Based Staff-DJ Jan 09, 2012
Dow Jones reported
that at least five employees of Deutsche Bank AG's institutional client group
and less than 10 from Morgan Stanley's institutional equities division in
Australia were cut on Monday. The Australian job losses at both banks followed
a sharp slowdown in markets last year, and form part of a wider restructuring
taking place with around 500 positions globally at Deutsche due to be removed
and 1,600 jobs internationally at Morgan Stanley to be eliminated by the end of
March.
Deutsche Bank AG
Starts Asset Manager Sale-Reuters Dec 16, 2011
Reuters reported
that Deutsche Bank AG has launched the sale of a large chunk of its global
asset management business, with a price tag seen between EUR2 billion ($2.6
billion) and 3 billion. The lender sent information on the assets up for sale
to dozens of potential buyers that have signalled interest, including banks and
asset managers, adding that non-binding offers were expected in January or
February. Deutsche Bank would prefer to sell all of the assets to a single
buyer but is ready to consider divestments to separate buyers if that would
fetch a higher price.
Fitch Cuts Goldman
Sachs, Deutsche Bank AG, Five Other Large Banks Long-Term Ratings-Reuters Dec
16, 2011
Reuters reported
that Fitch Ratings on Thursday downgraded The Goldman Sachs Group, Inc.,
Deutsche Bank AG and five other banks based in Europe and the United States,
citing 'increased challenges' in the financial markets. Fitch cut long-term
ratings on Barclays PLC and Credit Suisse Group AG by two notches to 'A' from
'AA-'. The agency cut by one notch its long-term ratings on Bank of America
Corporation, BNP Paribas SA, Citigroup Inc., Deutsche Bank AG and Goldman
Sachs. The financial market challenges the banks face "result from both
economic developments as well as a myriad of regulatory changes. Fitch on
Thursday also affirmed its long-term 'A' ratings on JPMorgan Chase & Co,
Morgan Stanley and UBS AG, as well as its 'A+' rating on Societe Generale SA.
Deutsche Bank AG
Restructures Portuguese and Hungarian Units-Boersen-Zeitung
Dec 02, 2011
Boersen-Zeitung
reported that Deutsche Bank AG has restructured its business units in Portugal
and Hungary from subsidiaries into branches. The Hungarian unit was
restructured several weeks ago, while the one in Portugal in the summer.
Deutsche Bank AG will also change the structure of its retail banking business
in Belgium.
Deutsche Bank AG
Ceases To Be Substantial Holder In Bank of Queensland Limited Nov 28, 2011
Bank of Queensland
Limited announced that Deutsche Bank AG and its related bodies corporate have
ceased to be a substantial holder in the Company as of November 24, 2011.
Previously, Deutsche Bank AG and its related bodies corporate held 11,280,325
ordinary shares in the Company, which represents 5.01% of the voting power.
Deutsche Bank AG
Acquires Stake In Bank of Queensland Limited Nov 23, 2011
Bank of Queensland
Limited announced that Deutsche Bank AG has acquired 11,280,325 ordinary shares
in the Company, which represents 5.01% of the voting power.
Deutsche Bank AG
Eyes Asset Management Sales-Reuters Nov 22, 2011
Reuters reported
that Deutsche Bank AG is considering the sales of several global asset
management businesses in light of new regulation, rising costs and growing
competition expected to weigh down future earnings. The review would take into
account Deutsche's institutional investor business, DB Advisers; its
alternative asset business RREEF; an insurance asset management business; and
its DWS Investments mutual fund business in the Americas. Not included in the
review are private wealth management or Deutsche's DWS franchises in Germany,
Europe and Asia, which are seen as part of the bank's retail palette.
Deutsche Bank AG
Announces Resignation of Chairman of Management Board and Appointment of
Chairman of Supervisory Board Nov 14, 2011
Deutsche Bank AG
announced that The Chairman of the Management Board and the Group Executive
Committee of Deutsche Bank AG, Dr. Josef Ackermann, notified the Bank's
Supervisory Board that he will no longer be available as a candidate to
transfer onto the Supervisory Board following his departure from the Management
Board effective upon the completion of the General Meeting in May 2012. The
Nomination Committee recommends that the Supervisory Board propose Dr. Paul
Achleitner, currently Member of the Board of Management of Allianz S.E., for
election to the Supervisory Board at the General Meeting 2012. Furthermore, the
Nomination Committee recommends that Dr. Paul Achleitner be elected at the
meeting of the Supervisory Board following the General Meeting as Supervisory
Board Chairman. Dr. Achleitner will be available for this office, pending the
formal approval of the Supervisory Board of Allianz S.E.
Deutsche Bank AG
Warns Of More Job Cuts In Tough Trade-Reuters Oct 25, 2011
Reuters reported
that Deutsche Bank AG's third-quarter pretax profit beat forecasts as retail
banking and asset management offset a drop in investment banking which it
warned was facing the toughest conditions since 2008 that could lead to more
job cuts. Weaker market activity forced the Company to drop ambitious full-year
targets earlier this month and announce 500 job cuts. The Bank was in the
process of cutting 10% of its investment banking staff.
Deutsche Bank AG
Comments on FY 2011 Guidance; to Reduce Headcount in Q4 2011 and Q1 2012 Oct
04, 2011
Deutsche Bank AG
announced that against the ongoing market turbulence it expects the planned
pre-tax target of EUR 10 billion from its core businesses is no longer
achievable for the fiscal year 2011. Nevertheless, the Bank will be profitable
in the third quarter and expects a robust earnings level for the full year
2011. According to I/B/E/S Estimates, analysts on average are expecting the
Company to report pre-tax profit of EUR 8,022.77 million and EBIT of EUR
9,301.18 million for the fiscal year 2011. In addition, the Company announced
that in response to the and unabated slowdown in client activity, Deutsche Bank
AG will consider additional cost controls beyond those already implemented as
part of the recalibration of the Corporate & Investment Bank (CIB). This
will lead to a reduction in headcount by around 500 positions in Corporate
Banking & Securities (CB&S) Corporate Division during the fourth
quarter of 2011 and the first quarter of 2012, primarily outside Germany.
Ranieri Real
Estate Partners And WL Ross To Acquire Deutsche Bank AG's Deutsche Bank
Berkshire Mortgage Sep 26, 2011
Ranieri Real
Estate Partners LP (RREP), a real estate financial services company, and
private equity funds affiliated with WL Ross & Co. LLC (WL Ross) announced
that they have entered into a definitive agreement to acquire Deutsche Bank
Berkshire Mortgage (the company or DBBM), a subsidiary of Deutsche Bank AG, the
firms announced today. Terms of the agreement were not disclosed. DBBM
originates multi-family loans for Fannie Mae, Freddie Mac and the Federal
Housing Administration (FHA). The company was founded in 1988 and became a unit
of Deutsche Bank in 2004. It has 160 employees and operates out of three
primary offices: Bethesda, Boston and Irvine, and has additional offices in
Dallas, Los Angeles, Nashville, and Seattle. Jeff Day will remain as CEO and
the current management team and staff are expected to remain with the company.
The acquisition is expected to be completed by the end of the year, and the
company will be renamed following the closing.
EU Opens Antitrust
Probe Into EPC Group Of Banks Including Deutsche Bank AG-Reuters Sep 26, 2011
Reuters reported
that EU antitrust regulators are investigating whether a group of banks,
including Deutsche Bank AG, HSBC Holdings plc and Spain's BBVA S.A., is
blocking new players from entering the European online payments market. The European
Commission opened an investigation into the standardisation process for
e-payments by the European Payments Council (EPC) on Monday. The Commission
said the exclusion of new players and payment providers not controlled by a
bank could result in higher prices for web merchants and consumers. EPC, which
is the coordination and decision-making body of the European banking industry
in relation to payments, supports the creation of an integrated payments market
through the Single Euro Payments Area (SEPA). EPC's other members include
Spain's Banco Santander SA, the British unit of Citigroup Inc., Barclays Bank,
BNP Paribas SA, Credit Agricole SA and Intesa Sanpaolo SpA.
Federal Agency
Sues 17 Firms Including Deutsche Bank AG, Over Sales Of Risky Mortgage
Investments-AP Sep 03, 2011
The Associated
Press reported that the government on Friday sued 17 financial firms, for
selling Fannie Mae and Freddie Mac billions of dollars worth of mortgage-backed
securities that turned toxic when the housing market collapsed. Among those
targeted by the lawsuits were Bank of America Corp., Citigroup Inc., JP Morgan
Chase & Co., and Goldman Sachs Group Inc. Large European banks including
The Royal Bank of Scotland, Barclays Bank and Credit Suisse were also sued. The
lawsuits were filed by the Federal Housing Finance Agency. It oversees Fannie
and Freddie, the two agencies that buy mortgages loans and mortgage securities
issued by the lenders. The total price tag for the mortgage-backed securities
sold to Fannie and Freddie by the firms named in the lawsuits is $196 billion.
The government didn't say how much it is seeking in damages. It said it wants
to have the securities sales canceled and wants to be compensated for lost
principal, interest payments as well as for attorney fees. Bank of America,
which bought Countrywide Financial Corp. in 2008 and Merrill Lynch in 2009. All
three are being separately sued by the government for mortgage-backed security
sales totaling $57.5 billion. Also sued Friday were are Ally Financial Inc.,
formerly known GMAC LLC, Deutsche Bank AG, First Horizon National Corp.,
General Electric Co., HSBC North America Holdings Inc., Morgan Stanley, Nomura
Holding America Inc., and Societe Generale.
The Charles Schwab
Corporation Sues Major Banks Including Deutsche Bank AG Over Libor-DJ Aug 25,
2011
Dow Jones reported
that The Charles Schwab Corporation has sued several major banks, accusing them
of a conspiracy to depress a key bank-to-bank lending rate on trillions of
dollars worth of financial instruments since 2007, according to Courthouse News
Service . The Charles Schwab Corporation claims in its lawsuit that the banks
sought to understate the true cost of borrowing by depressing the London
interbank offered rate. The suit was filed in U.S. District Court in San
Francisco. Banks listed as defendants in the suit include Bank of Bank of
America Corporation, Credit Suisse Group AG, JPMorgan Chase & Co., HSBC
Holdings plc, Barclays Bank PLC, Citigroup Inc. and Deutsche Bank AG.
Deutsche Bank AG
Acquires Stake In Focus Minerals Ltd Aug 25, 2011
Focus Minerals Ltd
announced that Deutsche Bank AG has acquired 282,801,040 ordinary shares in the
Company, which represents 6.87% of the voting power.
Deutsche Bank AG
Ceases To Be Substantial Holder In Crescent Gold Ltd Aug 25, 2011
Crescent Gold Ltd
announced that Deutsche Bank AG and its related bodies corporate (Deutsche Bank
Group) have ceased to be a substantial holder in the Company as of August 23,
2011. Previously, Deutsche Bank Group held 30.55% of the voting power.
Deutsche Bank AG
Ceases To Be Substantial Holder In African Iron Ltd Aug 22, 2011
African Iron Ltd
announced that Deutsche Bank AG and its related bodies corporate have ceased to
be a substantial holder in the Company as of August 18, 2011. Previously,
Deutsche Bank AG and its related bodies held 24,706,775 ordinary shares in the
Company, which represents 5.15% of the voting power.
Gold One
International Limited Announces Holding Interest Of Deutsche Bank AG And
Related Bodies Corporate Aug 21, 2011
Gold One
International Limited announced that Deutsche Bank AG and its related bodies
corporate have an interest of 41,733,239 ordinary shares, which represents
5.16% of voting power in the Company.
Deutsche Bank AG
Denies Seoul Central Prosecutors Office Charges Against Korean Unit-Reuters Aug
21, 2011
Reuters reported
that Deutsche Bank AG denied illegal stock trading charges made by the Seoul
Central Prosecutors Office against one of its South Korean entities, Deutsche
Securities Korea, and four of its employees. Yonhap news agency earlier
reported that the charges related to options trades that caused the main KOSPI
index to plunge 2.7% at the close of trade on November 10, erasing $27 billion
of stock market capitalisation. The prosecutors office was not immediately
available for comment.
U.S. Judge's
Lawsuit Alleging Deutsche Bank AG Can Proceed-Reuters Aug 19, 2011
Reuters reported
that a U.S. judge has left largely intact a securities lawsuit alleging
Deutsche Bank AG misrepresented its exposure to mortgage-backed securities.
Deutsche Bank was hit with several proposed class actions in 2009 relating to
six offerings of preferred securities that had raised over $6.2 billion.
Investors claim that between 2005 and 2007, the bank significantly increased
its dealings in residential MBS and collateralized debt obligations, which it
failed to disclose. In a ruling on Friday, U.S. District Judge Deborah Batts in
Manhattan dismissed plaintiff claims relating to a stock offering from October
2006. Batts left intact claims relating to five other offerings, or gave the
plaintiffs a chance to refashion their allegations.
Deutsche Bank AG
And UBS AG To Sell $1.4 Billion Public, Private CMBS-DJ
Aug 09, 2011
Dow Jones reported
that Deutsche Bank AG and UBS AG plan to sell $1.4 billion in commercial
mortgage-backed securities (CMBS) in a turbulent week for credit markets after
structuring the deal with extra credit protection and a publicly offered
portion that will appeal to a broader range of investors. The issue includes
$879 million in a public offering that gives investors 30% credit enhancement,
above levels that have been offered on recent CMBS, according to a term sheet
obtained by Dow Jones Newswires. The top portion of the privately offered
securities also will carry 30% credit enhancement. Deutsche Bank and UBS are
bringing the issue after a week of drubbing for the CMBS market. Risk premiums
have soared as investor concern increased about the global economy and the
implications of a rating downgrade of U.S. debt.
American
International Group, Inc. Expected To Sue Bank of America, Deutsche Bank AG,
Others, Over Mortgage Bonds-DJ Aug 08, 2011
Dow Jones reported
that American International Group, Inc. is planning to sue Bank of America Corporation
along with a host of other prominent financial institutions as the insurer
seeks to recover losses on mortgage-backed securities, the New York Times
reported on Monday. In its action against Bank of America, the Company will
seek to recover more than $10 billion in losses on some $28 billion in
investments, claiming the bank along with its Merrill Lynch and Countrywide
Financial units misrepresented the quality of mortgages. In addition, the
Company is preparing similar actions against The Goldman Sachs Group, Inc.,
JPMorgan Chase & Co. and Deutsche Bank AG. The lawsuit is expected to be
filed on Monday In New York State Supreme Court. The Company is working with
the law firm Quinn Emanuel Urquhart & Sullivan. Deutsche Bank AG Acquires Stake In Valad
Property Group Aug 05, 2011
Valad Property
Group announced that Deutsche Bank AG has acquired 6,549,842 stapled securities
in the Company, which represents 5.69% of the voting power. Deutsche Bank AG
Acquires Stake In African Iron Ltd
Aug 05, 2011
African Iron Ltd
announced that Deutsche Bank AG has acquired 24,706,775 ordinary shares in the
Company, which represents 5.15% of the voting power.
Deutsche Bank AG
And UBS AG Cut CMBS Offering; May Do It Again-DJ Jul 27, 2011
Dow Jones reported
that Deutsche Bank AG and UBS AG slashed the size of a planned commercial
mortgage-backed security (CMBS) and may end up cutting it a second time before
mid-August. The underwriters cut the CMBS from $2.2 billion to about $1.4
billion, in part because some buyers rejected a structure that increased their
risks. Some loans in the deal may have been pulled because they were
unprofitable after rising volatility in the market pushed yields higher. The
decision to pare the issue follows one of the toughest weeks for new CMBS sales
since the market began to recover in late 2009. Investors forced dealers to
make significant concessions to enhance credit or yield on the issues, raising
concern that volume would slow and hinder the budding recovery in U.S. office,
retail and apartment properties. The initial cut was first reported by
Bloomberg News.
Deutsche Bank AG
Reaffirms FY 2011 Pre Tax Profit Guidance-Conference Call Jul 26, 2011
Deutsche Bank AG
announced that for fiscal 2011, the performance of Deutsche Bank's classic
banking businesses, Global Transaction Banking and (inaudible), together with
delivery of more than half of the targeted benefits from efficiency program in
the first half of 2011, gives it the confidence that EUR10 billion pre-tax
profit target from core businesses remains in sight.
Deutsche Bank AG
Announces Senior Management Changes Jul 25, 2011
Deutsche Bank AG's
Supervisory Board met today and decided on a new leadership for the Bank: Dr.
Josef Ackermann, Chairman of the Management Board and the Group Executive
Committee (GEC), will retire from the Board effective at the conclusion of the
Annual General Meeting 2012; Juergen Fitschen and Anshu Jain, both members of
the Management Board of the Bank, will be nominated as Co-Chairmen of the Board
and the Group Executive Committee of the Bank effective at the conclusion of
the Annual General Meeting 2012; Mr. Fitschen's contract as member of the
Management Board will be extended by three years until the Annual General
Meeting 2015. Mr. Jain's contract will be extended for five years until March
31, 2017. After six years at its helm, Dr. Clemens Boersig, Chairman of the
Supervisory Board of the Bank, has informed the Board that he will retire from
the Board effective at the conclusion of the Annual General Meeting 2012. He
will continue to serve the Bank in his other mandates and join its European
Advisory Board; The Bank is working towards Dr. Ackermann being elected to the
Supervisory Board to replace Dr. Boersig at the Annual General Meeting 2012 and
to become its Chairman so that the Bank will continue to profit from his
knowledge, experience and professional network.
Deutsche Bank AG
Acquires Stake In Amadeus Energy Ltd Jul 19, 2011
Amadeus Energy Ltd
announced that Deutsche Bank AG and its related bodies corporate has acquired
14,731,781 ordinary shares in the Company, which represents 5.03% of the voting
power.
Deutsche Bank AG
Ceases To Be Substantial Holder In Valad Property Group Jul 18, 2011
Valad Property
Group announced that Deutsche Bank AG and its related bodies corporate have
ceased to be a substantial holder in the Company as of July 14, 2011.
Previously, Deutsche Bank AG and its related bodies corporate held 16,946,243
ordinary shares, which represents 14.72% of voting power in the Company.
Deutsche Bank AG
Sued By Dexia S.A. Regarding $1 Billion In Mortgage Backed Securities-DJ Jul
14, 2011
Dow Jones reported
that Dexia S.A. sued Deutsche Bank AG late claiming fraud in connection with
more than $1 billion in residential mortgage-backed securities Dexia bought,
according to Bloomberg News. The lawsuit was filed in New York State Supreme
Court in Manhattan. Dexia crashed during the financial crisis that began in
2008, requiring a EUR6.4 billion bailout from the governments of France,
Belgium and Luxembourg when it ran short of cash to finance its long-term loans
to local governments.
Deutsche Bank AG
Seeks To End US Mortgage Fraud Case-Reuters Jul 11, 2011
Reuters reported
that Deutsche Bank AG asked a Manhattan judge to dismiss a U.S. government
lawsuit accusing it of fraud for repeatedly lying about the quality of
mortgages it handled under a federal program. In its May 3 civil complaint
seeking more than $1 billion, the government had accused Deutsche Bank of
misleading the Federal Housing Administration into believing that mortgages
issued by its MortgageIT Inc unit qualified for insurance, when the quality was
so poor that nearly one in three defaulted.
Deutsche Bank AG
In Exclusive Talks With RHJ International To Sell BHF-DJ Jul 07, 2011
Dow Jones reported
that Deutsche Bank AG is in exclusive talks to sell its BHF-Bank unit to RHJ
International, launching a second attempt to dispose of the business which
analysts say doesn't fit with other asset management operations in the German
lender's home market. Deutsche Bank said talks are being held with RHJ
International's wholly-owned subsidiary Kleinwort Benson Group.
Deutsche Bank AG's
RREEF Acquires Three U.S. Residential Properties For $151 Million Jul 06, 2011
Deutsche Bank AG's
RREEF announced that in two separate transactions, RREEF America REIT II has
acquired Cityfront Place, a multifamily residential tower in Chicago for $107
million, and Eden Hill and Sweetbrier, two multifamily properties in Seattle
for $44 million. Terms of the transactions were not disclosed. RREEF is the
real estate investment business of Deutsche Bank's Asset Management division.
Deutsche Bank AG
Acquires Stake In RHG Ltd Jun 30, 2011
RHG Ltd announced
that Deutsche Bank AG and its related bodies corporate has acquired 17,758,215
ordinary shares in the Company, which represents 5.57% of the voting power.
Territory
Resources Limited Announces Holding Interest Of Deutsche Bank AG And Related
Bodies Corporate Jun 29, 2011
Territory
Resources Limited announced that Deutsche Bank AG and its related bodies
corporate have ceased to be substantial shareholder of the Company. Earlier,
Deutsche Bank AG had an interest of 5.84% of voting power in the Company.
Robbins Geller
Rudman & Dowd LLP Announces Class Action Suit Against Deutsche Bank AG Jun
21, 2011
Robbins Geller
Rudman & Dowd LLP announced that a class action has been commenced on
behalf of an institutional investor in the United States District Court for the
Southern District of New York on behalf of purchasers of Deutsche Bank AG
(Deutsche Bank) ordinary shares during the period between January 3, 2007 and
January 16, 2009 (Class Period). The complaint charges Deutsche Bank and
certain of its officers and directors with violations of the Securities
Exchange Act of 1934. Deutsche Bank is a global investment bank.
US Files Expected
Tax Case Against Deutsche Bank AG-Reuters Jun 15, 2011
Reuters reported
that U.S. prosecutors has filed an expected civil lawsuit against Deutsche Bank
AG that formalizes the $553 million fine the German bank agreed to pay last
December in connection with its illegal tax shelter work for wealthy Americans.
The filing, in Federal District Court in Manhattan, is a procedural piece of
the non-prosecution agreement reached last December between prosecutors and
Germany's largest bank over its work in selling questionable tax shelters.
Under the settlement, Deutsche Bank admitted to criminal wrongdoing and agreed
to pay the fine, which it has already done. It also agreed not to contest what
it knew would be a future civil lawsuit filed in connection with the fine. The
lawsuit is a capstone to one of the largest criminal tax investigations in U.S.
history involving the web of banks
Deutsche Bank AG
Ceases To Be Substantial Holder In Australian Agricultural Company Limited Jun
08, 2011
Australian
Agricultural Company Limited announced that Deutsche Bank AG and its related
bodies corporate have ceased to be substantial holders in the Company as of
June 6, 2011. Previously, Deutsche Bank AG and its related bodies corporate
held 15,230,546 ordinary shares, which represents 5.01% of voting power in the
Company.
Deutsche Bank AG
Ceases To Be Substantial Holder In Australian Agricultural Company Limited Jun
08, 2011
Australian
Agricultural Company Limited announced that Deutsche Bank AG and its related
bodies corporate have ceased to be substantial holders in the Company as of
June 6, 2011. Previously, Deutsche Bank AG and its related bodies corporate
held 15,230,546 ordinary shares, which represents 5.01% of voting power in the
Company.
Deutsche Bank AG
Acquires Stake In Sundance Resources Limited Jun 06, 2011
Sundance Resources
Limited announced that Deutsche Bank AG and its related bodies corporate has
acquired 144,015,939 ordinary shares in the Company, which represents 5.02% of
the voting power.
Deutsche Bank AG
Acquires Stake In Sundance Resources Limited Jun 06, 2011
Sundance Resources
Limited announced that Deutsche Bank AG and its related bodies corporate has
acquired 144,015,939 ordinary shares in the Company, which represents 5.02% of
the voting power.
Australian
Agricultural Company Limited Announces Holding Interest Of Deutsche Bank AG And
Related Bodies Corporate Jun 05, 2011
Australian
Agricultural Company Limited announced that Deutsche Bank AG and its related
bodies corporate have an interest of 15,230,546 ordinary shares, which
represents 5.01% of voting power in the Company.
Australian
Agricultural Company Limited Announces Holding Interest Of Deutsche Bank AG And
Related Bodies Corporate Jun 05, 2011
Australian
Agricultural Company Limited announced that Deutsche Bank AG and its related
bodies corporate have an interest of 15,230,546 ordinary shares, which
represents 5.01% of voting power in the Company.
Valad Property
Group Announces Holding Interest In Deutsche Bank AG And Related Bodies
Corporate May 30, 2011
Valad Property
Group announced that Deutsche Bank AG and its related bodies corporate have an
interest of 16,946,243 ordinary shares, which represents 14.72% of voting power
in the Company. Earlier, Deutsche Bank AG and its related bodies corporate had
an interest of 6,525,446 ordinary shares, which represents 5.67% of voting
power in the Company.
Valad Property
Group Announces Holding Interest In Deutsche Bank AG And Related Bodies
Corporate May 30, 2011
Valad Property
Group announced that Deutsche Bank AG and its related bodies corporate have an
interest of 16,946,243 ordinary shares, which represents 14.72% of voting power
in the Company. Earlier, Deutsche Bank AG and its related bodies corporate had
an interest of 6,525,446 ordinary shares, which represents 5.67% of voting
power in the Company.
Territory
Resources Limited Announces Holding Interest Of Deutsche Bank AG And Related
Bodies Corporate May 26, 2011
Territory
Resources Limited announced that Deutsche Bank AG and its related bodies
corporate have an interest of 15,482,805 ordinary shares, which represents
5.84% of voting power in the Company.
Territory
Resources Limited Announces Holding Interest Of Deutsche Bank AG And Related
Bodies Corporate
May 26, 2011
Territory
Resources Limited announced that Deutsche Bank AG and its related bodies
corporate have an interest of 15,482,805 ordinary shares, which represents
5.84% of voting power in the Company.
Metcash Limited
Announces Holding Interest Of Deutsche Bank AG And Related Bodies Corporate May
17, 2011
Metcash Limited
announced that Deutsche Bank AG and its related bodies corporate have an
interest of 38,851,843 ordinary shares, which represents 5.05% of voting power
in the Company.
Metcash Limited
Announces Holding Interest Of Deutsche Bank AG And Related Bodies Corporate May
17, 2011
Metcash Limited
announced that Deutsche Bank AG and its related bodies corporate have an
interest of 38,851,843 ordinary shares, which represents 5.05% of voting power
in the Company.
Deutsche Bank AG
Comments On Long Term Pre Tax Profit Guidance-DJ May 17, 2011
Dow Jones reported
that Deutsche Bank AG's Chief Executive Officer Josef Ackermann said he expects
Deutsche Bank AG to achieve operating pre tax profit of between EUR11 billion
and EUR12 billion (between $15.6 billion and $17 billion) within two to three
years, the Frankfurter Allgemeine Zeitung reported, citing analysts who attended
a meeting with him. This target should be possible even if the contribution
from Deutsche Bank's investment-banking operations falls to around EUR5 billion
, according to the advance release of an article to be published. For this
year, the contribution to operating pre tax profit from investment banking is
expected to be around EUR6.4 billion, the report added.
Valad Property
Group Announces Holding Interest Of Deutsche Bank AG And Related Bodies
Corporate May 05, 2011
Valad Property
Group announced that Deutsche Bank AG and its related bodies corporate have an
interest of 6,525,446 ordinary shares, which represents 5.67% of voting power
in the Company.
Valad Property
Group Announces Holding Interest Of Deutsche Bank AG And Related Bodies Corporate
May 05, 2011
Valad Property
Group announced that Deutsche Bank AG and its related bodies corporate have an
interest of 6,525,446 ordinary shares, which represents 5.67% of voting power
in the Company.
The City of Los
Angeles Sues Deutsche Bank AG Over Foreclosure Blight-Reuters May 04, 2011
Dow Jones reported
that The City of Los Angeles sued Deutsche Bank AG on Wednesday. Due to
widespread foreclosures, Deutsche Bank subsidiaries have taken title to more
than 2,000 residential properties in Los Angeles. The bank has disregarded its
responsibilities as property owners, creating vacant nuisance properties and
substandard housing.
The City of Los
Angeles Sues Deutsche Bank AG Over Foreclosure Blight-Reuters May 04, 2011
Dow Jones reported
that The City of Los Angeles sued Deutsche Bank AG on Wednesday. Due to
widespread foreclosures, Deutsche Bank subsidiaries have taken title to more
than 2,000 residential properties in Los Angeles. The bank has disregarded its
responsibilities as property owners, creating vacant nuisance properties and
substandard housing.
US Officials To
Sue Deutsche Bank AG, Unit Over Reckless Lending Practices-DJ May 03, 2011
Dow Jones reported
that U.S. authorities plan to sue Deutsche Bank AG and a mortgage subsidiary on
Tuesday over alleged reckless lending practices. Preet Bharara, the U.S.
Attorney in Manhattan, and officials from the U.S. Department of Housing and
Urban Development are expected to announce the filing of a civil mortgage fraud
lawsuit against Deutsche Bank and its MortgageIT unit at a 1 p.m. EDT press
conference Tuesday, according to a press advisory.
Deutsche Bank AG
Reaffirms FY 2011 Pre Tax Profit Guidance-Conference Call Apr 28, 2011
Deutsche Bank AG
announced that for fiscal 2011, it is way to achieving the well publicized
target of EUR10 billion of the pre-tax profit. The consolidation adjusted is
not included in fiscal 2011 pre-tax profit target, and that overall, it expect
it to be negative in fiscal 2011.
Deutsche Bank AG
Reaffirms FY 2011 Pre Tax Profit Guidance-Conference Call Apr 28, 2011
Deutsche Bank AG
announced that for fiscal 2011, it is way to achieving the well publicized
target of EUR10 billion of the pre-tax profit. The consolidation adjusted is
not included in fiscal 2011 pre-tax profit target, and that overall, it expect
it to be negative in fiscal 2011.
Gain Capital
Holdings Inc To Acquire Deutsche Bank AG's dbFX Retail Foreign Exchange Trading
Business Apr 21, 2011
Gain Capital
Holdings Inc announced that it has reached an agreement with Deutsche Bank AG
to acquire dbFX, Deutsche Bank's retail foreign exchange trading business. The
agreement also provides for the referral of retail forex clients from Deutsche
Bank to GAIN Capital over the two-year period following the closing of the
transaction. Under the acquisition agreement GAIN Capital will make certain
payments to Deutsche Bank based on contract volume generated by transferring
customers. The transaction is subject to customary regulatory approvals and
other closing conditions. Terms of the transaction were not disclosed.
Gain Capital
Holdings Inc To Acquire Deutsche Bank AG's dbFX Retail Foreign Exchange Trading
Business Apr 21, 2011
Gain Capital
Holdings Inc announced that it has reached an agreement with Deutsche Bank AG
to acquire dbFX, Deutsche Bank's retail foreign exchange trading business. The
agreement also provides for the referral of retail forex clients from Deutsche
Bank to GAIN Capital over the two-year period following the closing of the
transaction. Under the acquisition agreement GAIN Capital will make certain
payments to Deutsche Bank based on contract volume generated by transferring
customers. The transaction is subject to customary regulatory approvals and
other closing conditions. Terms of the transaction were not disclosed.
Regulator Blocks
Sale Of Deutsche Bank AG Unit BHF-Reuters Apr 18, 2011
Reuters reported
that German regulator Bafin has blocked the sale of Deutsche Bank AG unit BHF
to Liechtenstein's LGT, which has come to the attention of regulators in
Germany probing tax evasion by its clients. Deutsche Bank and LGT, owned by the
royal family of the Alpine principality of Liechtenstein, were close to
finalising a deal after an auction process that had dragged on for more than a
year. Bafin had denied approval of the deal, the watchdog said it had 'examined
the origins of the funds with which a purchase was to be financed and the
trustworthiness of the buyer'.
Regulator Blocks
Sale Of Deutsche Bank AG Unit BHF-Reuters Apr 18, 2011
Reuters reported
that German regulator Bafin has blocked the sale of Deutsche Bank AG unit BHF
to Liechtenstein's LGT, which has come to the attention of regulators in
Germany probing tax evasion by its clients. Deutsche Bank and LGT, owned by the
royal family of the Alpine principality of Liechtenstein, were close to
finalising a deal after an auction process that had dragged on for more than a
year. Bafin had denied approval of the deal, the watchdog said it had 'examined
the origins of the funds with which a purchase was to be financed and the
trustworthiness of the buyer'.
Deutsche Bank AG
Approves Share Capital Increase For Its Subsidiary Deutsche Bank Sociedad
AnonimaEspanola Apr 15, 2011
Deutsche Bank AG
announced that on April 5, 2011it approved a share capital increase for its
subsidiary, Deutsche Bank Sociedad Anonima Espanola in the amount of EUR 223
million.
Deutsche Bank AG
Approves Share Capital Increase For Its Subsidiary Deutsche Bank Sociedad
Anonima Espanola Apr 15, 2011
Deutsche Bank AG
announced that on April 5, 2011it approved a share capital increase for its
subsidiary, Deutsche Bank Sociedad Anonima Espanola in the amount of EUR 223
million.
Deutsche Bank AG
To Restructure U.S. Operations-Reuters Apr 12, 2011
Reuters reported
that Deutsche Bank AG is planning to restructure its U.S. operations to skirt
financial regulations that could force it to raise billions of dollars, the
Wall Street Journal reported on its website on Tuesday. Deutsche Bank
executives were concerned the bank would need nearly $20 billion to offset
losses at its main U.S. unit, Taunus Corp. Under the plan, Deutsche Bank Trust
Corp, the banking unit, would be moved out of Taunus and become a direct
subsidiary of the Bank.
Deutsche Bank AG
To Restructure U.S. Operations-Reuters Apr 12, 2011
Reuters reported
that Deutsche Bank AG is planning to restructure its U.S. operations to skirt
financial regulations that could force it to raise billions of dollars, the
Wall Street Journal reported on its website on Tuesday. Deutsche Bank
executives were concerned the bank would need nearly $20 billion to offset
losses at its main U.S. unit, Taunus Corp. Under the plan, Deutsche Bank Trust
Corp, the banking unit, would be moved out of Taunus and become a direct
subsidiary of the Bank.
Deutsche Bank AG's
CEO Open To External Successor-Reuters Apr 11, 2011
Reuters reported
that Deutsche Bank AG's Chief Executive (CEO) Josef Ackermann is open to
external succession candidates even without investment banking background if
they have the right personality, a German newspaper reported on Sunday.
Ackermann favours European Central Bank policymaker Axel Weber for the position
but it also noted there is hardly any support for him in the board of
management and Board of Directors. Weber's Bundesbank term of office expires in
April 2012.
Deutsche Bank AG's
CEO Open To External Successor-Reuters Apr 11, 2011
Reuters reported
that Deutsche Bank AG's Chief Executive (CEO) Josef Ackermann is open to
external succession candidates even without investment banking background if
they have the right personality, a German newspaper reported on Sunday.
Ackermann favours European Central Bank policymaker Axel Weber for the position
but it also noted there is hardly any support for him in the board of management
and Board of Directors. Weber's Bundesbank term of office expires in April
2012.
Indusind Bank Ltd.
Enters Into Agreement To Acquire Deutsche Bank AG's India Credit Card Business
Apr 11, 2011
Indusind Bank Ltd.
announced that it has entered into an agreement with Deutsche Bank AG to buy
its credit card business in India. With this acquisition, Indusind Bank Ltd.
will look at expanding its wide range of customer-centric financial products
and becoming a full service bank. Under the agreement, Indusind Bank Ltd. will
get access to close to 200,000 card customers and the entire operating platform
of cards franchise including talent and technolgy.
CORRECTION
OFFICIAL - Deutsche Bank AG Acquires Stake In Oceania Capital Partners Limited Apr
08, 2011
CORRECTED TO READ
- Deutsche Bank AG Announced The Withdrawal of Initial Substantial Holder
Notice in Oceania Capital Partners Lodged On April 8, 2011 Oceania Capital
Partners Limited announced that Deutsche Bank AG and its related bodies
corporate have acquired 6,429,594 ordinary shares in the Company on April 6,
2011, which represents 6.99% of the voting power.
Deutsche Bank AG
Acquires Stake In Oceania Capital Partners Limited Apr 08, 2011
Oceania Capital
Partners Limited announced that Deutsche Bank AG and its related bodies
corporate have acquired 6,429,594 ordinary shares in the Company on April 6,
2011, which represents 6.99% of the voting power.
Deutsche Bank AG
Proposes FY 2010 Dividend Apr 05, 2011
Deutsche Bank AG
announced that it will propose to the General Meeting an unchanged dividend of
EUR 0.75 for the fiscal year 2010.
Deutsche Bank AG
Proposes FY 2010 Dividend Apr 05, 2011
Deutsche Bank AG
announced that it will propose to the General Meeting an unchanged dividend of
EUR 0.75 for the fiscal year 2010.
ING Industrial
Fund Announces Holding Interest Of Deutsche Bank AG And Related Bodies
Corporate
Mar 31, 2011
ING Industrial
Fund announced that Deutsche Bank AG and its related bodies corporate have
ceased to be substantial shareholder of the Company. Earlier, Deutsche Bank AG
had an interest of 5.09% of voting power in the Company.
ING Industrial
Fund Announces Holding Interest Of Deutsche Bank AG And Related Bodies
Corporate Mar 31, 2011
ING Industrial
Fund announced that Deutsche Bank AG and its related bodies corporate have
ceased to be substantial shareholder of the Company. Earlier, Deutsche Bank AG
had an interest of 5.09% of voting power in the Company.
Indusind Bank Ltd.
To Buy Deutsche Bank AG's India Credit Card Business-Reuters Mar 21, 2011
Reuters reported
that Indusind Bank Ltd. set to acquire Deutsche Bank AG's India specific credit
card business, the Financial ed on Tuesday. The Bank had narrowed in on Axis
Bank and IndusInd Bank from the initial 11 bidders and its credit cards
business has 150,000 active cards and outstanding of INR2-INR2.5 billion. The
deal is expected to conclude over the next quarter.
Annual
Profit & Loss
|
|
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
|
Period Length |
12 Months |
12 Months |
12 Months |
|
Filed Currency |
EUR |
EUR |
EUR |
|
Exchange Rate
(Period Average) |
0.755078 |
0.719047 |
0.683679 |
|
Consolidated |
No |
No |
No |
|
|
|
|
|
|
Total payroll costs |
7,780.7 |
8,377.8 |
6,876.0 |
|
Extraordinary income |
1,627.6 |
- |
- |
|
Provisions |
8,938.1 |
13,591.6 |
12,804.3 |
|
Extraordinary expenses |
1,205.2 |
- |
- |
|
Extraordinary result |
422.5 |
- |
- |
|
Other taxes |
160.2 |
84.8 |
109.7 |
|
Total taxation |
47.7 |
-1,144.6 |
-2,028.7 |
|
Net profit |
646.3 |
1,631.3 |
- |
|
Net loss |
- |
- |
-3,195.9 |
Annual Balance Sheet
Financials in: USD (mil)
|
|
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
|
Filed Currency |
EUR |
EUR |
EUR |
|
Exchange Rate |
0.745406 |
0.696986 |
0.719399 |
|
Consolidated |
No |
No |
No |
|
|
|
|
|
|
Issued capital |
3,158.0 |
2,279.8 |
2,030.9 |
|
Capital reserves |
34,019.0 |
22,842.7 |
20,977.2 |
|
Legal reserves |
17.4 |
18.7 |
18.1 |
|
Special reserves |
- |
40.2 |
315.5 |
|
Other reserves |
6,900.9 |
6,341.6 |
5,337.8 |
|
Total reserves |
6,918.4 |
6,400.4 |
5,671.4 |
|
Profits for the year |
1,094.7 |
1,137.8 |
430.9 |
|
Total stockholders equity |
45,190.1 |
32,660.6 |
29,110.4 |
|
Provision for pensions |
77.8 |
4,750.5 |
4,434.3 |
|
Provisions and allowances |
9,054.1 |
14,021.8 |
12,168.5 |
|
Regularisation account |
1,168.5 |
1,275.5 |
1,345.6 |
|
Total liabilities (including net worth) |
217,353.1 |
220,753.9 |
312,853.7 |
|
Intangibles |
603.7 |
598.3 |
564.4 |
|
Land and buildings |
606.4 |
325.7 |
330.8 |
|
Fixtures and equipment |
606.4 |
325.7 |
330.8 |
|
Total tangible fixed assets |
1,780.2 |
1,304.2 |
1,239.9 |
|
Shares held in associated companies |
60,224.9 |
60,563.7 |
51,530.5 |
|
Prepaid expenses and deferred costs |
2,538.2 |
2,068.9 |
1,264.9 |
|
Total assets |
217,353.1 |
220,753.9 |
312,853.7 |
Annual Ratios
Financials in: USD (mil)
|
|
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
|
Period Length |
12 Months |
12 Months |
12 Months |
|
Filed Currency |
EUR |
EUR |
EUR |
|
Exchange Rate |
0.745406 |
0.696986 |
0.719399 |
|
Consolidated |
No |
No |
No |
|
|
|
|
|
|
Profit per employee |
-0.56 |
2.67 |
4.46 |
|
Average wage per employee |
21.12 |
21.14 |
15.97 |
|
Net worth |
45,190.1 |
32,660.6 |
29,110.4 |
|
Number of employees |
27,816 |
28,497 |
29,434 |
Annual Income Statement
Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)
|
|
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
31-Dec-2007 |
31-Dec-2006 |
|
Period Length |
12 Months |
12 Months |
12 Months |
12 Months |
12 Months |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Reclassified
Normal |
Reclassified
Normal |
Restated Normal |
|
Filed Currency |
EUR |
EUR |
EUR |
EUR |
EUR |
|
Exchange Rate
(Period Average) |
0.755078 |
0.719047 |
0.683679 |
0.730637 |
0.796979 |
|
Auditor |
KPMG AG |
KPMG LLP |
KPMG LLP |
KPMG LLP |
KPMG LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Interest & Fees on Loans |
38,113.9 |
37,484.3 |
79,787.4 |
88,518.6 |
73,119.8 |
|
Interest Income, Bank |
38,113.9 |
37,484.3 |
79,787.4 |
88,518.6 |
73,119.8 |
|
Interest on Other Borrowings |
17,476.3 |
20,157.2 |
61,572.7 |
76,407.3 |
64,326.6 |
|
Total Interest Expense |
17,476.3 |
20,157.2 |
61,572.7 |
76,407.3 |
64,326.6 |
|
Net Interest Income |
20,637.6 |
17,327.1 |
18,214.7 |
12,111.3 |
8,793.2 |
|
|
|
|
|
|
|
|
Loan Loss Provision |
1,687.2 |
3,657.6 |
1,573.8 |
837.6 |
373.9 |
|
Net Interest Income after Loan Loss Provision |
18,950.4 |
13,669.5 |
16,640.8 |
11,273.7 |
8,419.3 |
|
|
|
|
|
|
|
|
Fees & Commissions from Operations |
14,129.7 |
12,392.8 |
14,247.9 |
16,810.0 |
14,046.8 |
|
Investment Securities Gains |
4,708.1 |
9,326.2 |
-13,640.9 |
10,905.5 |
11,898.7 |
|
Other Unusual Income |
-2.7 |
0.1 |
0.1 |
0.5 |
0.5 |
|
Other Revenue |
988.0 |
-339.3 |
898.1 |
1,884.7 |
488.1 |
|
Non-Interest Income, Bank |
17,171.7 |
21,461.7 |
1,572.4 |
30,083.3 |
26,959.3 |
|
Labor & Related Expenses |
-16,781.0 |
-15,729.2 |
-14,050.4 |
-17,959.7 |
-15,681.7 |
|
Amortization of Intangibles |
- |
- |
- |
- |
-38.9 |
|
Other Unusual Expense |
-14.6 |
271.2 |
-731.3 |
-175.2 |
- |
|
Restructuring Charge |
0.0 |
0.0 |
0.0 |
17.8 |
-240.9 |
|
Other Expense |
-14,062.1 |
-12,438.7 |
-11,828.6 |
-11,265.5 |
-8,953.8 |
|
Non-Interest Expense, Bank |
-30,857.7 |
-27,896.7 |
-26,610.4 |
-29,382.6 |
-24,915.3 |
|
Income Before Tax |
5,264.4 |
7,234.6 |
-8,397.2 |
11,974.5 |
10,463.3 |
|
|
|
|
|
|
|
|
Total Income Tax |
2,178.6 |
339.3 |
-2,698.6 |
3,064.4 |
2,835.7 |
|
Income After Tax |
3,085.8 |
6,895.2 |
-5,698.6 |
8,910.0 |
7,627.6 |
|
|
|
|
|
|
|
|
Minority Interest |
-26.5 |
20.9 |
89.2 |
-49.3 |
-11.3 |
|
Net Income Before Extraord Items |
3,059.3 |
6,916.1 |
-5,609.4 |
8,860.8 |
7,616.3 |
|
Net Income |
3,059.3 |
6,916.1 |
-5,609.4 |
8,860.8 |
7,616.3 |
|
|
|
|
|
|
|
|
Income Available to Common Excl Extraord Items |
3,059.3 |
6,916.1 |
-5,609.4 |
8,860.8 |
7,616.3 |
|
|
|
|
|
|
|
|
Income Available to Common Incl Extraord Items |
3,059.3 |
6,916.1 |
-5,609.4 |
8,860.8 |
7,616.3 |
|
|
|
|
|
|
|
|
Basic/Primary Weighted Average Shares |
753.3 |
688.3 |
552.5 |
519.7 |
513.2 |
|
Basic EPS Excl Extraord Items |
4.06 |
10.05 |
-10.15 |
17.05 |
14.84 |
|
Basic/Primary EPS Incl Extraord Items |
4.06 |
10.05 |
-10.15 |
17.05 |
14.84 |
|
Dilution Adjustment |
4.0 |
2.8 |
-1.5 |
- |
- |
|
Diluted Net Income |
3,063.3 |
6,918.9 |
-5,610.8 |
8,860.8 |
7,616.3 |
|
Diluted Weighted Average Shares |
790.8 |
718.3 |
552.5 |
543.7 |
571.2 |
|
Diluted EPS Excl Extraord Items |
3.87 |
9.63 |
-10.16 |
16.30 |
13.33 |
|
Diluted EPS Incl Extraord Items |
3.87 |
9.63 |
-10.16 |
16.30 |
13.33 |
|
Dividends per Share - Common Stock Primary Issue |
0.99 |
1.04 |
0.73 |
5.62 |
4.58 |
|
Gross Dividends - Common Stock |
923.1 |
648.1 |
452.0 |
3,112.4 |
2,515.7 |
|
Depreciation, Supplemental |
654.2 |
579.9 |
595.3 |
589.9 |
513.2 |
|
Total Special Items |
2,668.6 |
-353.2 |
664.1 |
-325.7 |
-284.8 |
|
Normalized Income Before Tax |
7,933.0 |
6,881.3 |
-7,733.2 |
11,648.7 |
10,178.4 |
|
|
|
|
|
|
|
|
Effect of Special Items on Income Taxes |
1,104.4 |
-16.6 |
232.4 |
-83.4 |
-77.2 |
|
Inc Tax Ex Impact of Sp Items |
3,282.9 |
322.8 |
-2,466.2 |
2,981.1 |
2,758.5 |
|
Normalized Income After Tax |
4,650.0 |
6,558.6 |
-5,266.9 |
8,667.6 |
7,419.9 |
|
|
|
|
|
|
|
|
Normalized Inc. Avail to Com. |
4,623.5 |
6,579.4 |
-5,177.7 |
8,618.4 |
7,408.6 |
|
|
|
|
|
|
|
|
Basic Normalized EPS |
6.14 |
9.56 |
-9.37 |
16.58 |
14.44 |
|
Diluted Normalized EPS |
5.85 |
9.16 |
-9.37 |
15.85 |
12.97 |
|
Amort of Intangibles, Supplemental |
347.0 |
242.0 |
280.8 |
154.7 |
111.7 |
|
Rental Expenses |
2,205.1 |
2,026.3 |
2,097.5 |
1,843.6 |
1,503.2 |
|
Bank Total Revenue |
55,285.7 |
58,946.1 |
81,359.8 |
118,601.9 |
100,079.1 |
|
Current Tax - Total |
1,761.4 |
751.0 |
-468.1 |
4,320.9 |
2,628.7 |
|
Current Tax - Total |
1,761.4 |
751.0 |
-468.1 |
4,320.9 |
2,628.7 |
|
Deferred Tax - Total |
417.2 |
-411.7 |
-2,230.6 |
-1,256.4 |
207.0 |
|
Deferred Tax - Total |
417.2 |
-411.7 |
-2,230.6 |
-1,256.4 |
207.0 |
|
Income Tax - Total |
2,178.6 |
339.3 |
-2,698.6 |
3,064.4 |
2,835.7 |
|
Interest Cost - Domestic |
697.9 |
635.6 |
662.6 |
596.7 |
495.6 |
|
Service Cost - Domestic |
321.8 |
258.7 |
386.1 |
362.7 |
356.3 |
|
Prior Service Cost - Domestic |
-102.0 |
25.0 |
20.5 |
15.1 |
40.2 |
|
Expected Return on Assets - Domestic |
-648.9 |
-560.5 |
-652.4 |
-595.4 |
-518.2 |
|
Actuarial Gains and Losses - Domestic |
0.0 |
0.0 |
1.5 |
1.4 |
-2.5 |
|
Curtailments & Settlements - Domestic |
-18.5 |
1.4 |
13.2 |
-15.1 |
-6.3 |
|
Other Pension, Net - Domestic |
0.0 |
0.0 |
-2.9 |
2.7 |
0.0 |
|
Domestic Pension Plan Expense |
250.3 |
360.2 |
428.6 |
368.2 |
365.1 |
|
Interest Cost - Post-Retirement |
11.9 |
9.7 |
10.2 |
10.9 |
12.5 |
|
Service Cost - Post-Retirement |
4.0 |
4.2 |
2.9 |
4.1 |
6.3 |
|
Actuarial Gains and Losses - Post-Retir. |
0.0 |
0.0 |
2.9 |
4.1 |
0.0 |
|
Post-Retirement Plan Expense |
15.9 |
13.9 |
16.1 |
19.2 |
18.8 |
|
Defined Contribution Expense - Domestic |
316.5 |
282.3 |
301.3 |
277.8 |
207.0 |
|
Total Pension Expense |
582.7 |
656.4 |
746.0 |
665.2 |
591.0 |
|
Discount Rate - Domestic |
5.40% |
5.60% |
5.50% |
4.80% |
4.30% |
|
Discount Rate - Post-Retirement |
5.90% |
6.10% |
6.10% |
5.80% |
5.40% |
|
Expected Rate of Return - Domestic |
5.00% |
4.50% |
5.00% |
4.60% |
4.40% |
|
Compensation Rate - Domestic |
3.40% |
3.00% |
3.30% |
3.20% |
3.30% |
|
Pension Payment Rate - Domestic |
2.40% |
1.80% |
1.80% |
1.70% |
- |
|
Total Plan Interest Cost |
709.9 |
645.3 |
672.8 |
607.7 |
508.2 |
|
Total Plan Service Cost |
325.8 |
262.8 |
389.1 |
366.8 |
362.6 |
|
Total Plan Expected Return |
-648.9 |
-560.5 |
-652.4 |
-595.4 |
-518.2 |
|
Total Plan Other Expense |
0.0 |
0.0 |
-2.9 |
2.7 |
0.0 |
Annual Balance Sheet
Financials in: USD (mil)
|
|
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
31-Dec-2007 |
31-Dec-2006 |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Reclassified
Normal |
Restated Normal |
Restated Normal |
|
Filed Currency |
EUR |
EUR |
EUR |
EUR |
EUR |
|
Exchange Rate |
0.745406 |
0.696986 |
0.719399 |
0.683971 |
0.758351 |
|
Auditor |
KPMG AG |
KPMG LLP |
KPMG LLP |
KPMG LLP |
KPMG LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Cash & Due from Banks |
23,017.0 |
13,409.2 |
13,658.6 |
12,620.4 |
9,241.1 |
|
Interest-earning Deposits |
123,928.4 |
67,767.5 |
89,990.4 |
31,602.2 |
25,316.8 |
|
Trading Account Assets |
363,950.4 |
337,037.1 |
343,984.6 |
- |
- |
|
Other Short Term Investments |
269,439.6 |
254,681.0 |
259,769.8 |
2,096,538.8 |
1,539,646.5 |
|
Securities Held |
27,320.7 |
9,785.0 |
12,881.6 |
19,879.5 |
18,810.5 |
|
Securities for Sale |
955,245.3 |
882,699.8 |
1,736,628.4 |
61,835.9 |
50,157.5 |
|
Total Investment Securities |
982,566.0 |
892,484.8 |
1,749,510.0 |
81,715.4 |
68,968.0 |
|
Other Earning Assets, Total |
1,739,884.4 |
1,551,970.5 |
2,443,254.7 |
2,209,856.4 |
1,633,931.3 |
|
Total Gross Loans |
551,410.6 |
375,112.5 |
377,008.0 |
293,282.8 |
237,612.8 |
|
Loan Loss Allowances |
-4,421.7 |
-4,796.4 |
-2,693.9 |
-2,492.8 |
-2,202.1 |
|
Net Loans |
546,988.8 |
370,316.1 |
374,314.1 |
290,790.0 |
235,410.7 |
|
Buildings |
6,232.8 |
2,107.6 |
2,039.2 |
2,254.5 |
3,486.5 |
|
Machinery/Equipment |
4,857.8 |
3,932.6 |
3,475.1 |
3,358.3 |
3,093.6 |
|
Construction in
Progress |
399.8 |
668.6 |
1,830.7 |
181.3 |
146.4 |
|
Other
Property/Plant/Equipment |
2,432.2 |
2,284.1 |
2,103.1 |
2,111.2 |
1,765.7 |
|
Property/Plant/Equipment - Gross |
13,922.6 |
8,993.0 |
9,448.2 |
7,905.3 |
8,492.1 |
|
Accumulated Depreciation |
-6,138.9 |
-5,008.7 |
-4,288.3 |
-4,383.2 |
-4,218.4 |
|
Property/Plant/Equipment - Net |
7,783.7 |
3,984.3 |
5,159.9 |
3,522.1 |
4,273.7 |
|
Goodwill, Net |
14,437.8 |
10,645.8 |
10,471.2 |
- |
- |
|
Intangibles - Gross |
8,494.7 |
- |
- |
- |
- |
|
Accumulated Intangible Amortization |
-2,011.0 |
- |
- |
- |
- |
|
Intangibles, Net |
6,483.7 |
3,944.1 |
3,258.3 |
13,718.4 |
11,356.2 |
|
LT Investment - Affiliate Companies |
3,498.8 |
11,173.8 |
3,116.5 |
4,921.3 |
3,350.7 |
|
Long Term Investments |
3,498.8 |
11,173.8 |
3,116.5 |
4,921.3 |
3,350.7 |
|
Deferred Income Tax - Long Term Asset |
11,189.9 |
10,258.5 |
11,773.7 |
6,984.2 |
5,712.4 |
|
Other Long Term Assets, Total |
11,189.9 |
10,258.5 |
11,773.7 |
6,984.2 |
5,712.4 |
|
Other Assets |
203,215.3 |
177,375.3 |
196,471.1 |
272,037.8 |
186,115.6 |
|
Other Assets, Total |
203,215.3 |
177,375.3 |
196,471.1 |
272,037.8 |
186,115.6 |
|
Total Assets |
2,556,499.3 |
2,153,077.7 |
3,061,478.1 |
2,814,450.6 |
2,089,391.7 |
|
|
|
|
|
|
|
|
Total Deposits |
716,366.2 |
493,869.6 |
549,838.4 |
669,539.9 |
543,173.0 |
|
Other Bearing Liabilities |
4,394.9 |
7,982.9 |
4,470.4 |
13,984.5 |
27,921.1 |
|
Other Bearing Liabilities, Total |
4,394.9 |
7,982.9 |
4,470.4 |
13,984.5 |
27,921.1 |
|
Other Short Term Borrowings |
37,458.8 |
65,274.0 |
121,097.0 |
1,533,436.1 |
1,050,725.4 |
|
Total Short Term Borrowings |
37,458.8 |
65,274.0 |
121,097.0 |
1,533,436.1 |
1,050,725.4 |
|
Income Taxes Payable |
3,670.5 |
3,071.8 |
3,272.2 |
6,171.3 |
5,318.1 |
|
Other Current liabilities, Total |
3,670.5 |
3,071.8 |
3,272.2 |
6,171.3 |
5,318.1 |
|
Long Term Debt |
227,607.4 |
189,074.2 |
186,066.5 |
185,246.1 |
146,848.8 |
|
Total Long Term Debt |
227,607.4 |
189,074.2 |
186,066.5 |
185,246.1 |
146,848.8 |
|
Total Debt |
265,066.1 |
254,348.2 |
307,163.5 |
1,718,682.2 |
1,197,574.2 |
|
|
|
|
|
|
|
|
Deferred Income Tax - LT Liability |
3,095.0 |
3,094.8 |
5,259.9 |
3,479.7 |
3,013.1 |
|
Deferred Income Tax |
3,095.0 |
3,094.8 |
5,259.9 |
3,479.7 |
3,013.1 |
|
Minority Interest |
2,078.1 |
1,896.7 |
1,683.4 |
2,079.0 |
945.5 |
|
Reserves |
2,956.8 |
1,875.2 |
1,971.1 |
1,893.4 |
2,331.4 |
|
Other Liabilities |
1,493,345.0 |
1,334,359.1 |
2,145,140.5 |
343,219.2 |
265,919.0 |
|
Other Liabilities, Total |
1,496,301.8 |
1,336,234.3 |
2,147,111.5 |
345,112.5 |
268,250.3 |
|
Total Liabilities |
2,490,972.6 |
2,100,498.4 |
3,018,799.4 |
2,759,049.2 |
2,046,195.4 |
|
|
|
|
|
|
|
|
Common Stock |
3,192.9 |
2,279.8 |
2,030.9 |
1,985.5 |
1,770.9 |
|
Common Stock |
3,192.9 |
2,279.8 |
2,030.9 |
1,985.5 |
1,770.9 |
|
Additional Paid-In Capital |
31,546.5 |
21,277.3 |
20,796.5 |
23,112.1 |
20,104.1 |
|
Retained Earnings (Accumulated Deficit) |
34,879.0 |
34,514.3 |
27,903.9 |
38,087.9 |
26,967.7 |
|
Treasury Stock - Common |
-603.7 |
-68.9 |
-1,305.3 |
-4,121.5 |
-3,135.7 |
|
Unrealized Gain (Loss) |
-3,489.4 |
-5,423.4 |
-6,743.1 |
-76.0 |
-59.3 |
|
Translation Adjustment |
- |
- |
- |
-3,707.8 |
-1,002.2 |
|
Other Equity |
0.0 |
0.0 |
-4.2 |
121.4 |
-1,449.2 |
|
Other Equity, Total |
0.0 |
0.0 |
-4.2 |
-3,586.4 |
-2,451.4 |
|
Total Equity |
65,525.3 |
52,579.3 |
42,678.7 |
55,401.5 |
43,196.3 |
|
|
|
|
|
|
|
|
Total Liabilities & Shareholders’ Equity |
2,556,497.9 |
2,153,077.7 |
3,061,478.1 |
2,814,450.6 |
2,089,391.7 |
|
|
|
|
|
|
|
|
Shares Outstanding - Common Stock Primary
Issue |
919.1 |
679.7 |
616.6 |
549.1 |
546.5 |
|
Total Common Shares Outstanding |
919.1 |
679.7 |
616.6 |
549.1 |
546.5 |
|
Treasury Shares - Common Stock Primary Issue |
10.4 |
0.7 |
9.0 |
32.1 |
28.6 |
|
Employees |
102,062 |
77,053 |
80,456 |
78,291 |
68,849 |
|
Number of Common Shareholders |
640,623 |
586,295 |
581,938 |
360,785 |
348,196 |
|
Accumulated Goodwill Amortization Suppl. |
- |
- |
- |
- |
273.0 |
|
Accumulated Intangible Amort, Suppl. |
2,011.0 |
1,675.8 |
1,836.3 |
1,241.3 |
961.3 |
|
Total Risk-Weighted Capital |
464.4 |
392.4 |
427.8 |
481.0 |
363.2 |
|
Tier 1 Capital % |
12.30% |
12.60% |
10.10% |
8.60% |
8.50% |
|
Total Capital % |
14.10% |
13.90% |
12.20% |
11.60% |
12.50% |
|
Total Long Term Debt, Supplemental |
- |
189,074.2 |
- |
- |
- |
|
Long Term Debt Maturing within 1 Year |
- |
27,109.6 |
- |
- |
- |
|
Long Term Debt Maturing in Year 2 |
- |
28,419.5 |
- |
- |
- |
|
Long Term Debt Maturing in Year 3 |
- |
25,525.6 |
- |
- |
- |
|
Long Term Debt Maturing in Year 4 |
- |
20,251.5 |
- |
- |
- |
|
Long Term Debt Maturing in Year 5 |
- |
21,785.2 |
- |
- |
- |
|
Long Term Debt Maturing in 2-3 Years |
- |
53,945.2 |
- |
- |
- |
|
Long Term Debt Maturing in 4-5 Years |
- |
42,036.7 |
- |
- |
- |
|
Long Term Debt Matur. in Year 6 & Beyond |
- |
65,982.7 |
- |
- |
- |
|
Interest Costs |
-148.9 |
-155.0 |
-222.4 |
-412.3 |
-425.9 |
|
Total Capital Leases, Supplemental |
59.0 |
239.6 |
266.9 |
657.9 |
771.4 |
|
Capital Lease Payments Due in Year 1 |
22.8 |
35.9 |
44.5 |
290.9 |
162.2 |
|
Capital Lease Payments Due in Year 2 |
21.8 |
38.0 |
41.0 |
68.0 |
118.0 |
|
Capital Lease Payments Due in Year 3 |
21.8 |
38.0 |
41.0 |
68.0 |
118.0 |
|
Capital Lease Payments Due in Year 4 |
21.8 |
38.0 |
41.0 |
68.0 |
118.0 |
|
Capital Lease Payments Due in Year 5 |
21.8 |
38.0 |
41.0 |
68.0 |
118.0 |
|
Capital Lease Payments Due in 2-3 Years |
43.6 |
76.0 |
82.0 |
136.0 |
236.0 |
|
Capital Lease Payments Due in 4-5 Years |
43.6 |
76.0 |
82.0 |
136.0 |
236.0 |
|
Cap. Lease Pymts. Due in Year 6 & Beyond |
97.9 |
206.6 |
280.8 |
507.3 |
563.1 |
|
Total Operating Leases, Supplemental |
7,004.2 |
7,354.5 |
7,991.4 |
6,203.5 |
4,304.1 |
|
Operating Lease Payments Due in Year 1 |
1,114.8 |
1,044.5 |
1,063.4 |
934.2 |
743.7 |
|
Operating Lease Payments Due in Year 2 |
776.8 |
733.9 |
760.0 |
653.9 |
523.5 |
|
Operating Lease Payments Due in Year 3 |
776.8 |
733.9 |
760.0 |
653.9 |
523.5 |
|
Operating Lease Payments Due in Year 4 |
776.8 |
733.9 |
760.0 |
653.9 |
523.5 |
|
Operating Lease Payments Due in Year 5 |
776.8 |
733.9 |
760.0 |
653.9 |
523.5 |
|
Operating Lease Pymts. Due in 2-3 Years |
1,553.5 |
1,467.7 |
1,520.0 |
1,307.8 |
1,047.0 |
|
Operating Lease Pymts. Due in 4-5 Years |
1,553.5 |
1,467.7 |
1,520.0 |
1,307.8 |
1,047.0 |
|
Oper. Lse. Pymts. Due in Year 6 & Beyond |
2,782.4 |
3,374.5 |
3,888.0 |
2,653.6 |
1,466.3 |
|
Pension Obligation - Domestic |
16,193.9 |
13,509.6 |
11,383.1 |
12,453.7 |
12,038.0 |
|
Post-Retirement Obligation |
206.6 |
195.1 |
165.4 |
169.6 |
193.8 |
|
Plan Assets - Domestic |
14,859.0 |
13,417.8 |
12,169.9 |
13,642.4 |
12,457.3 |
|
Funded Status - Domestic |
-1,334.8 |
-91.8 |
786.8 |
1,188.6 |
419.3 |
|
Funded Status - Post-Retirement |
-206.6 |
-195.1 |
-165.4 |
-169.6 |
-193.8 |
|
Total Funded Status |
-1,541.4 |
-287.0 |
621.4 |
1,019.0 |
225.5 |
|
Discount Rate - Domestic |
5.10% |
5.40% |
5.60% |
5.50% |
4.80% |
|
Discount Rate - Post-Retirement |
5.30% |
5.90% |
6.10% |
6.10% |
5.80% |
|
Compensation Rate - Domestic |
3.30% |
3.40% |
3.00% |
3.30% |
3.20% |
|
Pension Payment Rate - Domestic |
2.40% |
2.40% |
1.80% |
1.80% |
- |
|
Equity % - Domestic |
9.00% |
8.00% |
7.00% |
8.00% |
10.00% |
|
Debt Securities % - Domestic |
88.00% |
90.00% |
90.00% |
87.00% |
87.00% |
|
Other Investments % - Domestic |
3.00% |
2.00% |
3.00% |
5.00% |
3.00% |
|
Total Plan Obligations |
16,400.4 |
13,704.7 |
11,548.5 |
12,623.3 |
12,231.8 |
|
Total Plan Assets |
14,859.0 |
13,417.8 |
12,169.9 |
13,642.4 |
12,457.3 |
Annual Cash Flows
Financials in: USD (mil)
|
|
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
31-Dec-2007 |
31-Dec-2006 |
|
Period Length |
12 Months |
12 Months |
12 Months |
12 Months |
12 Months |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
Restated Normal |
|
Filed Currency |
EUR |
EUR |
EUR |
EUR |
EUR |
|
Exchange Rate
(Period Average) |
0.755078 |
0.719047 |
0.683679 |
0.730637 |
0.796979 |
|
Auditor |
KPMG AG |
KPMG LLP |
KPMG LLP |
KPMG LLP |
KPMG LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Net Income/Starting Line |
3,085.8 |
6,895.2 |
-5,698.6 |
8,910.0 |
7,627.6 |
|
Depreciation |
5,635.2 |
2,478.3 |
4,456.8 |
2,369.2 |
1,700.2 |
|
Depreciation/Depletion |
5,635.2 |
2,478.3 |
4,456.8 |
2,369.2 |
1,700.2 |
|
Deferred Taxes |
417.2 |
-411.7 |
-2,230.6 |
-1,256.4 |
207.0 |
|
Unusual Items |
0.0 |
0.0 |
0.0 |
-17.8 |
37.6 |
|
Equity in Net Earnings (Loss) |
-605.2 |
-262.8 |
-77.5 |
-490.0 |
-259.7 |
|
Non-Cash Items |
-605.2 |
-262.8 |
-77.5 |
-507.8 |
-222.1 |
|
Loan Loss Provision |
1,687.2 |
3,657.6 |
1,585.5 |
891.0 |
441.7 |
|
Other Assets |
-87,502.2 |
1,075,683.8 |
-356,611.7 |
-559,302.0 |
-189,801.7 |
|
Other Liabilities |
83,235.1 |
-1,128,510.7 |
475,002.0 |
606,567.6 |
212,611.5 |
|
Other Operating Cash Flow |
-6,602.0 |
-1,728.7 |
-4,048.7 |
-1,717.7 |
661.2 |
|
Investment Securities, Gains/Losses |
-480.7 |
-912.3 |
-2,533.4 |
-2,610.0 |
-1,145.6 |
|
Loans, Gains/Losses |
-3,738.7 |
23,938.6 |
-55,553.8 |
-30,363.9 |
-18,072.0 |
|
Changes in Working Capital |
-13,401.3 |
-27,871.6 |
57,840.0 |
13,465.0 |
4,695.2 |
|
Cash from Operating Activities |
-4,868.4 |
-19,172.6 |
54,290.1 |
22,979.9 |
14,007.9 |
|
|
|
|
|
|
|
|
Purchase of Fixed Assets |
-1,156.2 |
-823.3 |
-1,373.5 |
-923.9 |
-760.4 |
|
Capital Expenditures |
-1,156.2 |
-823.3 |
-1,373.5 |
-923.9 |
-760.4 |
|
Sale of Fixed Assets |
143.0 |
54.2 |
156.5 |
1,350.9 |
154.3 |
|
Sale/Maturity of Investment |
19,975.4 |
25,777.2 |
56,789.8 |
30,083.3 |
27,847.6 |
|
Purchase of Investments |
-18,848.4 |
-21,990.2 |
-56,605.5 |
-36,262.9 |
-30,584.2 |
|
Other Investing Cash Flow |
9,788.4 |
-2,460.2 |
-92.1 |
-253.2 |
-1,011.3 |
|
Other Investing Cash Flow Items, Total |
11,058.5 |
1,381.0 |
248.7 |
-5,081.9 |
-3,593.6 |
|
Cash from Investing Activities |
9,902.3 |
557.7 |
-1,124.8 |
-6,005.7 |
-4,353.9 |
|
|
|
|
|
|
|
|
Other Financing Cash Flow |
307.3 |
1,956.8 |
5,442.6 |
2,772.9 |
949.8 |
|
Financing Cash Flow Items |
307.3 |
1,956.8 |
5,442.6 |
2,772.9 |
949.8 |
|
Cash Dividends Paid - Common |
-615.8 |
-429.7 |
-3,326.1 |
-2,744.2 |
-1,554.6 |
|
Total Cash Dividends Paid |
-615.8 |
-429.7 |
-3,326.1 |
-2,744.2 |
-1,554.6 |
|
Sale/Issuance of
Common |
31,227.2 |
25,187.5 |
34,584.9 |
54,908.2 |
46,500.6 |
|
Repurchase/Retirement
of Common |
-20,350.2 |
-26,754.9 |
-31,792.7 |
-56,290.6 |
-48,721.5 |
|
Common Stock, Net |
10,877.0 |
-1,567.4 |
2,792.2 |
-1,382.4 |
-2,220.9 |
|
Issuance (Retirement) of Stock, Net |
10,877.0 |
-1,567.4 |
2,792.2 |
-1,382.4 |
-2,220.9 |
|
Long Term Debt Issued |
1,776.0 |
635.6 |
765.0 |
587.2 |
1,224.6 |
|
Long Term Debt
Reduction |
-303.3 |
-2,013.8 |
-963.9 |
-3,844.6 |
-2,479.4 |
|
Long Term Debt, Net |
1,472.7 |
-1,378.2 |
-198.9 |
-3,257.4 |
-1,254.7 |
|
Issuance (Retirement) of Debt, Net |
1,472.7 |
-1,378.2 |
-198.9 |
-3,257.4 |
-1,254.7 |
|
Cash from Financing Activities |
12,041.1 |
-1,418.5 |
4,709.8 |
-4,611.0 |
-4,080.4 |
|
|
|
|
|
|
|
|
Foreign Exchange Effects |
2,530.9 |
959.6 |
-588.0 |
-395.5 |
-639.9 |
|
Net Change in Cash |
19,605.9 |
-19,073.9 |
57,287.1 |
11,967.6 |
4,933.6 |
|
|
|
|
|
|
|
|
Net Cash - Beginning Balance |
68,269.7 |
90,764.6 |
38,172.9 |
23,751.9 |
16,841.1 |
|
Net Cash - Ending Balance |
87,875.7 |
71,690.7 |
95,460.0 |
35,719.5 |
21,774.7 |
|
Cash Taxes Paid |
1,038.3 |
-723.2 |
-3,649.4 |
3,840.5 |
- |
Annual Income Statement
Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)
|
|
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
31-Dec-2007 |
31-Dec-2006 |
|
Period Length |
12 Months |
12 Months |
12 Months |
12 Months |
12 Months |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Reclassified
Normal |
Reclassified
Normal |
Restated Normal |
|
Filed Currency |
EUR |
EUR |
EUR |
EUR |
EUR |
|
Exchange Rate
(Period Average) |
0.755078 |
0.719047 |
0.683679 |
0.730637 |
0.796979 |
|
Auditor |
KPMG AG |
KPMG LLP |
KPMG LLP |
KPMG LLP |
KPMG LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Interest & Similar |
38,113.9 |
37,484.3 |
79,787.4 |
88,518.6 |
73,119.8 |
|
Total Revenue |
38,113.9 |
37,484.3 |
79,787.4 |
88,518.6 |
73,119.8 |
|
|
|
|
|
|
|
|
Interest Expense |
17,476.3 |
20,157.2 |
61,572.7 |
76,407.3 |
64,326.6 |
|
Loan Loss Prov. |
1,687.2 |
3,657.6 |
1,573.8 |
837.6 |
373.9 |
|
Total Operating Expense |
19,163.6 |
23,814.9 |
63,146.6 |
77,244.9 |
64,700.5 |
|
|
|
|
|
|
|
|
Fee/Commission |
14,129.7 |
12,392.8 |
14,247.9 |
16,810.0 |
14,046.8 |
|
Gains/Losses on Assets/Liabs. |
4,441.9 |
9,886.7 |
-14,615.0 |
9,820.2 |
11,157.1 |
|
Gains/Losses on Assets A-f-S |
266.2 |
-560.5 |
974.1 |
1,085.4 |
741.5 |
|
Equity Investments |
-2,654.0 |
82.1 |
67.3 |
483.1 |
525.7 |
|
Compensation, Benefits |
-16,781.0 |
-15,729.2 |
-14,050.4 |
-17,959.7 |
-15,681.7 |
|
Policyholder Benefits/Claims |
-642.3 |
-753.8 |
368.6 |
-264.2 |
-84.1 |
|
Sale of Subsidiaries |
23.8 |
84.8 |
124.3 |
- |
- |
|
Other Income |
988.0 |
-339.3 |
898.1 |
1,884.7 |
488.1 |
|
General and Administrative Expenses |
-13,419.8 |
-11,684.9 |
-12,197.2 |
-11,001.4 |
-8,869.7 |
|
Impairment of Intangibles |
-38.4 |
186.4 |
-855.7 |
-175.2 |
- |
|
Amort. of Intang. |
- |
- |
- |
- |
-38.9 |
|
Restructuring |
0.0 |
0.0 |
0.0 |
17.8 |
-240.9 |
|
Total Non-Interest Revenue |
17,171.7 |
21,461.7 |
1,572.4 |
30,083.3 |
26,959.3 |
|
|
|
|
|
|
|
|
Total Non-Interest Expense |
-30,857.7 |
-27,896.7 |
-26,610.4 |
-29,382.6 |
-24,915.3 |
|
|
|
|
|
|
|
|
Net Income Before Taxes |
5,264.4 |
7,234.6 |
-8,397.2 |
11,974.5 |
10,463.3 |
|
|
|
|
|
|
|
|
Provision for Income Taxes |
2,178.6 |
339.3 |
-2,698.6 |
3,064.4 |
2,835.7 |
|
Net Income After Taxes |
3,085.8 |
6,895.2 |
-5,698.6 |
8,910.0 |
7,627.6 |
|
|
|
|
|
|
|
|
Loss Minority Ints. |
-26.5 |
20.9 |
89.2 |
-49.3 |
-11.3 |
|
Net Income Before Extra. Items |
3,059.3 |
6,916.1 |
-5,609.4 |
8,860.8 |
7,616.3 |
|
Net Income |
3,059.3 |
6,916.1 |
-5,609.4 |
8,860.8 |
7,616.3 |
|
|
|
|
|
|
|
|
Income Available to Com Excl ExtraOrd |
3,059.3 |
6,916.1 |
-5,609.4 |
8,860.8 |
7,616.3 |
|
|
|
|
|
|
|
|
Income Available to Com Incl ExtraOrd |
3,059.3 |
6,916.1 |
-5,609.4 |
8,860.8 |
7,616.3 |
|
|
|
|
|
|
|
|
Basic Weighted Average Shares |
753.3 |
688.3 |
552.5 |
519.7 |
513.2 |
|
Basic EPS Excluding ExtraOrdinary Items |
4.06 |
10.05 |
-10.15 |
17.05 |
14.84 |
|
Basic EPS Including ExtraOrdinary Item |
4.06 |
10.05 |
-10.15 |
17.05 |
14.84 |
|
Dilution Adjustment |
4.0 |
2.8 |
-1.5 |
- |
- |
|
Diluted Net Income |
3,063.3 |
6,918.9 |
-5,610.8 |
8,860.8 |
7,616.3 |
|
Diluted Weighted Average Shares |
790.8 |
718.3 |
552.5 |
543.7 |
571.2 |
|
Diluted EPS Excluding ExtraOrd Items |
3.87 |
9.63 |
-10.16 |
16.30 |
13.33 |
|
Diluted EPS Including ExtraOrd Items |
3.87 |
9.63 |
-10.16 |
16.30 |
13.33 |
|
DPS-Ordinary Shares |
0.99 |
1.04 |
0.73 |
5.62 |
4.58 |
|
Gross Dividends - Common Stock |
923.1 |
648.1 |
452.0 |
3,112.4 |
2,515.7 |
|
Normalized Income Before Taxes |
7,933.0 |
6,881.3 |
-7,733.2 |
11,648.7 |
10,178.4 |
|
|
|
|
|
|
|
|
Inc Tax Ex Impact of Sp Items |
3,282.9 |
322.8 |
-2,466.2 |
2,981.1 |
2,758.5 |
|
Normalized Income After Taxes |
4,650.0 |
6,558.6 |
-5,266.9 |
8,667.6 |
7,419.9 |
|
|
|
|
|
|
|
|
Normalized Inc. Avail to Com. |
4,623.5 |
6,579.4 |
-5,177.7 |
8,618.4 |
7,408.6 |
|
|
|
|
|
|
|
|
Basic Normalized EPS |
6.14 |
9.56 |
-9.37 |
16.58 |
14.44 |
|
Diluted Normalized EPS |
5.85 |
9.16 |
-9.37 |
15.85 |
12.97 |
|
Amort of Intangibles |
347.0 |
242.0 |
280.8 |
154.7 |
111.7 |
|
Rental Expense |
2,205.1 |
2,026.3 |
2,097.5 |
1,843.6 |
1,503.2 |
|
Depreciation |
654.2 |
579.9 |
595.3 |
589.9 |
513.2 |
|
Current Tax |
1,761.4 |
751.0 |
-468.1 |
4,320.9 |
2,628.7 |
|
Current Tax - Total |
1,761.4 |
751.0 |
-468.1 |
4,320.9 |
2,628.7 |
|
Deferred Tax |
417.2 |
-411.7 |
-2,230.6 |
-1,256.4 |
207.0 |
|
Deferred Tax - Total |
417.2 |
-411.7 |
-2,230.6 |
-1,256.4 |
207.0 |
|
Income Tax - Total |
2,178.6 |
339.3 |
-2,698.6 |
3,064.4 |
2,835.7 |
|
Service Cost - Pension |
321.8 |
258.7 |
386.1 |
362.7 |
356.3 |
|
Interest Cost - Pension |
697.9 |
635.6 |
662.6 |
596.7 |
495.6 |
|
Expected Return on Assets - Pension |
-648.9 |
-560.5 |
-652.4 |
-595.4 |
-518.2 |
|
Amort. of Prior Service Cost - Pension |
-102.0 |
25.0 |
20.5 |
15.1 |
40.2 |
|
Actuarial Gain/Loss - Pension |
0.0 |
0.0 |
1.5 |
1.4 |
-2.5 |
|
Curtailments & Settlements - Pension |
-18.5 |
1.4 |
13.2 |
-15.1 |
-6.3 |
|
Asset Ceiling |
0.0 |
0.0 |
-2.9 |
2.7 |
0.0 |
|
Domestic Pension Plan Expense |
250.3 |
360.2 |
428.6 |
368.2 |
365.1 |
|
Service Cost - Post-Retirement |
4.0 |
4.2 |
2.9 |
4.1 |
6.3 |
|
Interest Cost - Post-Retirement |
11.9 |
9.7 |
10.2 |
10.9 |
12.5 |
|
Actuarial Gain/Loss - Post-Retirement |
0.0 |
0.0 |
2.9 |
4.1 |
0.0 |
|
Post-Retirement Plan Expense |
15.9 |
13.9 |
16.1 |
19.2 |
18.8 |
|
Defined Contribution Plans - Pension |
316.5 |
282.3 |
301.3 |
277.8 |
207.0 |
|
Total Pension Expense |
582.7 |
656.4 |
746.0 |
665.2 |
591.0 |
|
Discount Rate - Pension |
5.40% |
5.60% |
5.50% |
4.80% |
4.30% |
|
Discount Rate - Post-Retirement |
5.90% |
6.10% |
6.10% |
5.80% |
5.40% |
|
Compensation Rate - Pension |
3.40% |
3.00% |
3.30% |
3.20% |
3.30% |
|
Pension Payment Rate - Pension |
2.40% |
1.80% |
1.80% |
1.70% |
- |
|
Expected Rate of Return - Pension |
5.00% |
4.50% |
5.00% |
4.60% |
4.40% |
Annual Balance Sheet
Financials in: USD (mil)
|
|
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
31-Dec-2007 |
31-Dec-2006 |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Reclassified
Normal |
Restated Normal |
Restated Normal |
|
Filed Currency |
EUR |
EUR |
EUR |
EUR |
EUR |
|
Exchange Rate |
0.745406 |
0.696986 |
0.719399 |
0.683971 |
0.758351 |
|
Auditor |
KPMG AG |
KPMG LLP |
KPMG LLP |
KPMG LLP |
KPMG LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Cash |
23,017.0 |
13,409.2 |
13,658.6 |
12,620.4 |
9,241.1 |
|
Deposit |
123,928.4 |
67,767.5 |
89,990.4 |
31,602.2 |
25,316.8 |
|
Centr. Bank Fund |
27,320.7 |
9,785.0 |
12,881.6 |
19,879.5 |
18,810.5 |
|
Secs. Borrowed |
38,792.3 |
62,424.5 |
48,682.3 |
81,817.8 |
82,999.8 |
|
Financial Assets at Fair Value |
- |
- |
- |
2,014,721.0 |
1,456,646.7 |
|
Trading Assets |
363,950.4 |
337,037.1 |
343,984.6 |
- |
- |
|
Positive Market Values from Derivatives |
882,444.8 |
855,699.2 |
1,702,106.5 |
- |
- |
|
Financial Assets Designated at Fair Val. |
230,647.3 |
192,256.5 |
211,087.4 |
- |
- |
|
Financial Assets Available for Sale |
72,800.6 |
27,000.6 |
34,521.9 |
61,835.9 |
50,157.5 |
|
Equity Method Investments |
3,498.8 |
11,173.8 |
3,116.5 |
4,921.3 |
3,350.7 |
|
Loans |
551,410.6 |
375,112.5 |
377,008.0 |
293,282.8 |
237,612.8 |
|
Loan Loss Prov. |
-4,421.7 |
-4,796.4 |
-2,693.9 |
-2,492.8 |
-2,202.1 |
|
Building |
6,232.8 |
2,107.6 |
2,039.2 |
2,254.5 |
3,486.5 |
|
Leasehold |
2,432.2 |
2,284.1 |
2,103.1 |
2,111.2 |
1,765.7 |
|
Furniture/Equip. |
4,857.8 |
3,932.6 |
3,475.1 |
3,358.3 |
3,093.6 |
|
Constr. in Prog. |
399.8 |
668.6 |
1,830.7 |
181.3 |
146.4 |
|
Depreciation |
-6,138.9 |
-5,008.7 |
-4,288.3 |
-4,383.2 |
-4,218.4 |
|
Goodwill |
14,437.8 |
10,645.8 |
10,471.2 |
- |
- |
|
Other Intangible Assets |
- |
3,944.1 |
3,258.3 |
- |
- |
|
Other Intangible Assets |
8,494.7 |
- |
- |
- |
- |
|
Amortization of Intangibles |
-2,011.0 |
- |
- |
- |
- |
|
Goodwill & Intangibles |
- |
- |
- |
13,718.4 |
11,356.2 |
|
Other Asset |
200,198.2 |
174,376.6 |
191,589.2 |
268,487.9 |
183,320.0 |
|
Income Tax |
3,017.1 |
2,998.6 |
4,881.9 |
3,549.9 |
2,795.5 |
|
Deferred Tax Assets |
11,189.9 |
10,258.5 |
11,773.7 |
6,984.2 |
5,712.4 |
|
Total Assets |
2,556,499.3 |
2,153,077.7 |
3,061,478.1 |
2,814,450.6 |
2,089,391.7 |
|
|
|
|
|
|
|
|
Deposits |
716,366.2 |
493,869.6 |
549,838.4 |
669,539.9 |
543,173.0 |
|
Central Bank Funds |
37,458.8 |
65,274.0 |
121,097.0 |
261,328.3 |
134,766.0 |
|
Secs. Loaned |
4,394.9 |
7,982.9 |
4,470.4 |
13,984.5 |
27,921.1 |
|
Fin. Liabs at Fair Value |
- |
- |
- |
1,272,107.8 |
915,959.3 |
|
Trading Liabilities |
92,377.8 |
92,542.8 |
94,756.9 |
- |
- |
|
Negative Market Values from Derivatives |
868,212.3 |
827,812.0 |
1,642,506.7 |
- |
- |
|
Fin. Liab. Designated at Fair Value |
174,608.1 |
105,485.7 |
108,428.1 |
- |
- |
|
Investment Contract Liabilities |
10,595.6 |
10,442.1 |
8,308.3 |
- |
- |
|
Other ST Borrowings |
87,187.3 |
61,546.5 |
54,371.8 |
78,088.1 |
63,866.2 |
|
Other Liabs. |
243,930.0 |
221,354.7 |
223,239.2 |
250,659.7 |
190,055.7 |
|
Income Tax |
3,670.5 |
3,071.8 |
3,272.2 |
6,171.3 |
5,318.1 |
|
LT Debt |
227,607.4 |
189,074.2 |
186,066.5 |
185,246.1 |
146,848.8 |
|
Total Long Term Debt |
227,607.4 |
189,074.2 |
186,066.5 |
185,246.1 |
146,848.8 |
|
|
|
|
|
|
|
|
Provisions |
2,956.8 |
1,875.2 |
1,971.1 |
1,893.4 |
2,331.4 |
|
Deferred Tax |
3,095.0 |
3,094.8 |
5,259.9 |
3,479.7 |
3,013.1 |
|
Trust Secs. |
16,434.0 |
15,175.4 |
13,523.8 |
9,276.7 |
6,291.3 |
|
Minor. Interest |
2,078.1 |
1,896.7 |
1,683.4 |
2,079.0 |
945.5 |
|
Purchase Common Shares Obligation |
0.0 |
0.0 |
5.6 |
5,194.7 |
5,705.8 |
|
Total Liabilities |
2,490,972.6 |
2,100,498.4 |
3,018,799.4 |
2,759,049.2 |
2,046,195.4 |
|
|
|
|
|
|
|
|
Subscribed Cap. |
3,192.9 |
2,279.8 |
2,030.9 |
1,985.5 |
1,770.9 |
|
Capital Reserve |
31,546.5 |
21,277.3 |
20,796.5 |
23,112.1 |
20,104.1 |
|
Purc. Obligation |
0.0 |
0.0 |
-4.2 |
-5,193.2 |
-5,679.4 |
|
Retained Earning |
34,879.0 |
34,514.3 |
27,903.9 |
38,087.9 |
26,967.7 |
|
Treasury Stock |
-603.7 |
-68.9 |
-1,305.3 |
-4,121.5 |
-3,135.7 |
|
Financial Assets A-f-S |
- |
- |
- |
5,314.6 |
4,230.2 |
|
Unrealized Loss |
-3,489.4 |
-5,423.4 |
-6,743.1 |
-76.0 |
-59.3 |
|
Foreign Exchange |
- |
- |
- |
-3,707.8 |
-1,002.2 |
|
Total Equity |
65,525.3 |
52,579.3 |
42,678.7 |
55,401.5 |
43,196.3 |
|
|
|
|
|
|
|
|
Total Liabilities & Shareholders' Equity |
2,556,497.9 |
2,153,077.7 |
3,061,478.1 |
2,814,450.6 |
2,089,391.7 |
|
|
|
|
|
|
|
|
S/O-Ordinary Shares |
919.1 |
679.7 |
616.6 |
549.1 |
546.5 |
|
Total Common Shares Outstanding |
919.1 |
679.7 |
616.6 |
549.1 |
546.5 |
|
T/S-Ordinary Shares |
10.4 |
0.7 |
9.0 |
32.1 |
28.6 |
|
Amortization of Goodwill |
- |
- |
- |
- |
273.0 |
|
Amortization of Intangibles |
2,011.0 |
1,675.8 |
1,836.3 |
1,241.3 |
961.3 |
|
Risk-Weighted Assets |
464.4 |
392.4 |
427.8 |
481.0 |
363.2 |
|
Core Capital Ratio |
12.30% |
12.60% |
10.10% |
8.60% |
8.50% |
|
Total Capital Ratio |
14.10% |
13.90% |
12.20% |
11.60% |
12.50% |
|
Full-Time Employees |
102,062 |
77,053 |
80,456 |
78,291 |
68,849 |
|
Number of Common Shareholders |
640,623 |
586,295 |
581,938 |
360,785 |
348,196 |
|
LT Debt Due Within 1 Year |
- |
27,109.6 |
- |
- |
- |
|
LT Debt Due Within 2 Years |
- |
28,419.5 |
- |
- |
- |
|
LT Debt Due Within 3 Years |
- |
25,525.6 |
- |
- |
- |
|
LT Debt Due Within 4 Years |
- |
20,251.5 |
- |
- |
- |
|
LT Debt Due Within 5 Years |
- |
21,785.2 |
- |
- |
- |
|
LT Debt Due After 5 Years |
- |
65,982.7 |
- |
- |
- |
|
Total Long Term Debt, Supplemental |
- |
189,074.2 |
- |
- |
- |
|
Capital Leases Due Within 1 Year |
22.8 |
35.9 |
44.5 |
290.9 |
162.2 |
|
Capital Leases Due Within 1-5 Years |
87.2 |
152.1 |
164.0 |
271.9 |
472.1 |
|
Capital Leases Due After 5 Years |
97.9 |
206.6 |
280.8 |
507.3 |
563.1 |
|
Interest |
-148.9 |
-155.0 |
-222.4 |
-412.3 |
-425.9 |
|
Total Capital Leases |
59.0 |
239.6 |
266.9 |
657.9 |
771.4 |
|
Operating Leases Due Within 1 Year |
1,114.8 |
1,044.5 |
1,063.4 |
934.2 |
743.7 |
|
Operating Leases Due 1-5 Years |
3,107.0 |
2,935.5 |
3,040.0 |
2,615.6 |
2,094.0 |
|
Operating Leases Due After 5 Years |
2,782.4 |
3,374.5 |
3,888.0 |
2,653.6 |
1,466.3 |
|
Total Operating Leases |
7,004.2 |
7,354.5 |
7,991.4 |
6,203.5 |
4,304.1 |
|
Projected Benefit Obligation - Pension |
16,193.9 |
13,509.6 |
11,383.1 |
12,453.7 |
12,038.0 |
|
Projected Benefit Obligation - Post-Ret. |
206.6 |
195.1 |
165.4 |
169.6 |
193.8 |
|
FV of Plan Assets - Pension |
14,859.0 |
13,417.8 |
12,169.9 |
13,642.4 |
12,457.3 |
|
Funded Status - Pension |
-1,334.8 |
-91.8 |
786.8 |
1,188.6 |
419.3 |
|
Funded Status - Post-Retirement |
-206.6 |
-195.1 |
-165.4 |
-169.6 |
-193.8 |
|
Total Funded Status |
-1,541.4 |
-287.0 |
621.4 |
1,019.0 |
225.5 |
|
Discount Rate - Pension |
5.10% |
5.40% |
5.60% |
5.50% |
4.80% |
|
Discount Rate - Post-Retirement |
5.30% |
5.90% |
6.10% |
6.10% |
5.80% |
|
Compensation Rate - Pension |
3.30% |
3.40% |
3.00% |
3.30% |
3.20% |
|
Pension Payment Rate - Pension |
2.40% |
2.40% |
1.80% |
1.80% |
- |
|
Equity Securities % - Pension |
9.00% |
8.00% |
7.00% |
8.00% |
10.00% |
|
Debt Securities % - Pension |
88.00% |
90.00% |
90.00% |
87.00% |
87.00% |
|
Alternate Inv.(Real Estate) % - Pension |
3.00% |
2.00% |
3.00% |
5.00% |
3.00% |
Annual Cash Flows
Financials in: USD (mil)
|
|
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
31-Dec-2007 |
31-Dec-2006 |
|
Period Length |
12 Months |
12 Months |
12 Months |
12 Months |
12 Months |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
Restated Normal |
|
Filed Currency |
EUR |
EUR |
EUR |
EUR |
EUR |
|
Exchange Rate
(Period Average) |
0.755078 |
0.719047 |
0.683679 |
0.730637 |
0.796979 |
|
Auditor |
KPMG AG |
KPMG LLP |
KPMG LLP |
KPMG LLP |
KPMG LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Net Income |
3,085.8 |
6,895.2 |
-5,698.6 |
8,910.0 |
7,627.6 |
|
Depreciation |
5,635.2 |
2,478.3 |
4,456.8 |
2,369.2 |
1,700.2 |
|
Loan Loss Provision |
1,687.2 |
3,657.6 |
1,585.5 |
891.0 |
441.7 |
|
Restructuring |
0.0 |
0.0 |
0.0 |
-17.8 |
37.6 |
|
Sale of Inv./Prop. |
-480.7 |
-912.3 |
-2,533.4 |
-2,610.0 |
-1,145.6 |
|
Deferred Tax |
417.2 |
-411.7 |
-2,230.6 |
-1,256.4 |
207.0 |
|
Equity in Loss |
-605.2 |
-262.8 |
-77.5 |
-490.0 |
-259.7 |
|
Interest-Earned Time Deposits with Banks |
-46,095.9 |
6,373.7 |
-5,798.0 |
10,385.5 |
-4,163.2 |
|
Central Bank Funds/Securities |
34,920.9 |
-5,845.2 |
35,635.1 |
7,043.2 |
-14,296.5 |
|
Trading Assets |
-36,071.8 |
1,009,999.6 |
-690,679.2 |
-414,613.3 |
-109,675.4 |
|
Other Financial Assets |
-32,449.6 |
34,615.3 |
247,810.7 |
-103,710.8 |
-23,920.3 |
|
Loans |
-3,738.7 |
23,938.6 |
-55,553.8 |
-30,363.9 |
-18,072.0 |
|
Trading Liab. |
12,646.4 |
-954,338.4 |
958,370.5 |
281,691.0 |
31,673.3 |
|
Other Asset |
-7,805.8 |
30,540.4 |
56,419.7 |
-58,406.5 |
-37,746.3 |
|
Depositis |
30,004.8 |
-79,730.6 |
-83,252.5 |
64,962.5 |
44,819.2 |
|
Other Financial Liabs. at Fair Value |
70,787.4 |
-9,819.9 |
-233,461.8 |
96,124.3 |
52,094.2 |
|
Securities Loaned |
-53,913.6 |
-56,524.8 |
-141,892.6 |
94,536.6 |
23,783.6 |
|
Other ST Borrowings |
24,512.7 |
3,604.8 |
-20,793.4 |
8,938.8 |
9,350.3 |
|
Liabilities |
3,775.8 |
-21,758.0 |
-22,645.1 |
28,924.1 |
37,741.3 |
|
Senior LT Debt |
-4,578.3 |
-9,943.7 |
18,676.9 |
31,390.4 |
13,149.7 |
|
Other, Net |
-6,602.0 |
-1,728.7 |
-4,048.7 |
-1,717.7 |
661.2 |
|
Cash from Operating Activities |
-4,868.4 |
-19,172.6 |
54,290.1 |
22,979.9 |
14,007.9 |
|
|
|
|
|
|
|
|
Sale of Secs. |
14,107.1 |
12,548.6 |
28,424.1 |
17,067.3 |
14,996.6 |
|
Mat. Secs. |
5,537.2 |
12,430.3 |
27,371.0 |
11,194.3 |
7,961.3 |
|
Sale of Investments |
331.1 |
798.3 |
994.6 |
1,821.7 |
4,889.7 |
|
Sale of Prop./Equip. |
143.0 |
54.2 |
156.5 |
1,350.9 |
154.3 |
|
Purchase Secs. |
-18,656.3 |
-16,802.8 |
-55,316.9 |
-34,531.5 |
-28,491.3 |
|
Paym. of Investments |
-192.0 |
-5,187.4 |
-1,288.6 |
-1,731.4 |
-2,092.9 |
|
Capital Expenditures |
-1,156.2 |
-823.3 |
-1,373.5 |
-923.9 |
-760.4 |
|
Combine/Divestiture |
11,363.1 |
-27.8 |
-35.1 |
-886.9 |
-1,405.3 |
|
Other, Net |
-1,574.7 |
-2,432.4 |
-57.0 |
633.7 |
394.0 |
|
Cash from Investing Activities |
9,902.3 |
557.7 |
-1,124.8 |
-6,005.7 |
-4,353.9 |
|
|
|
|
|
|
|
|
LT Debt |
1,776.0 |
635.6 |
765.0 |
587.2 |
1,224.6 |
|
Pay LT Debt |
-303.3 |
-2,013.8 |
-963.9 |
-3,844.6 |
-2,479.4 |
|
Issuance of Trust Preferred Securities |
119.2 |
1,812.1 |
4,978.9 |
2,564.9 |
1,308.7 |
|
Repayment of Trust Preferred Securities |
-67.5 |
0.0 |
0.0 |
-574.8 |
-489.3 |
|
Issuance of Shares |
13,323.1 |
0.0 |
3,217.9 |
532.4 |
853.2 |
|
Common Shares Issued/Share Based Compens |
0.0 |
0.0 |
27.8 |
0.0 |
0.0 |
|
Treasury Stock |
-20,350.2 |
-26,754.9 |
-31,792.7 |
-56,290.6 |
-48,721.5 |
|
Sale Treasury |
17,904.1 |
25,187.5 |
31,339.3 |
54,375.8 |
45,647.4 |
|
Increase in Minority Interests |
264.9 |
151.6 |
484.1 |
800.7 |
163.1 |
|
Dividends Paid to Minority Interests |
-9.3 |
-7.0 |
-20.5 |
-17.8 |
-32.6 |
|
Dividends Paid |
-615.8 |
-429.7 |
-3,326.1 |
-2,744.2 |
-1,554.6 |
|
Cash from Financing Activities |
12,041.1 |
-1,418.5 |
4,709.8 |
-4,611.0 |
-4,080.4 |
|
|
|
|
|
|
|
|
Foreign Exchange Effects |
2,530.9 |
959.6 |
-588.0 |
-395.5 |
-639.9 |
|
Net Change in Cash |
19,605.9 |
-19,073.9 |
57,287.1 |
11,967.6 |
4,933.6 |
|
|
|
|
|
|
|
|
Net Cash - Beginning Balance |
68,269.7 |
90,764.6 |
38,172.9 |
23,751.9 |
16,841.1 |
|
Net Cash - Ending Balance |
87,875.7 |
71,690.7 |
95,460.0 |
35,719.5 |
21,774.7 |
|
Cash Taxes Paid |
1,038.3 |
-723.2 |
-3,649.4 |
3,840.5 |
- |
Financial
Health
Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)
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Ratio
Comparisons
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Traded: |
Financials in:
USD (actual units) |
|
Industry: Regional Banks |
As of
02-Mar-2012 |
|
Sector: Financial |
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Annual Ratios
Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)
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Stock
Report
snapshot
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Traded: |
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As of 2-Mar-2012 US Dollars |
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Stock History
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Annual Income Statement
Standardized
Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)
|
|
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
31-Dec-2007 |
31-Dec-2006 |
|
Period Length |
12 Months |
12 Months |
12 Months |
12 Months |
12 Months |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Reclassified
Normal |
Reclassified
Normal |
Restated Normal |
|
Filed Currency |
EUR |
EUR |
EUR |
EUR |
EUR |
|
Exchange Rate
(Period Average) |
0.755078 |
0.719047 |
0.683679 |
0.730637 |
0.796979 |
|
Auditor |
KPMG AG |
KPMG LLP |
KPMG LLP |
KPMG LLP |
KPMG LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Interest & Fees on Loans |
38,113.9 |
37,484.3 |
79,787.4 |
88,518.6 |
73,119.8 |
|
Interest Income, Bank |
38,113.9 |
37,484.3 |
79,787.4 |
88,518.6 |
73,119.8 |
|
Interest on Other Borrowings |
17,476.3 |
20,157.2 |
61,572.7 |
76,407.3 |
64,326.6 |
|
Total Interest Expense |
17,476.3 |
20,157.2 |
61,572.7 |
76,407.3 |
64,326.6 |
|
Net Interest Income |
20,637.6 |
17,327.1 |
18,214.7 |
12,111.3 |
8,793.2 |
|
|
|
|
|
|
|
|
Loan Loss Provision |
1,687.2 |
3,657.6 |
1,573.8 |
837.6 |
373.9 |
|
Net Interest Income after Loan Loss Provision |
18,950.4 |
13,669.5 |
16,640.8 |
11,273.7 |
8,419.3 |
|
|
|
|
|
|
|
|
Fees & Commissions from Operations |
14,129.7 |
12,392.8 |
14,247.9 |
16,810.0 |
14,046.8 |
|
Investment Securities Gains |
4,708.1 |
9,326.2 |
-13,640.9 |
10,905.5 |
11,898.7 |
|
Other Unusual Income |
-2.7 |
0.1 |
0.1 |
0.5 |
0.5 |
|
Other Revenue |
988.0 |
-339.3 |
898.1 |
1,884.7 |
488.1 |
|
Non-Interest Income, Bank |
17,171.7 |
21,461.7 |
1,572.4 |
30,083.3 |
26,959.3 |
|
Labor & Related Expenses |
-16,781.0 |
-15,729.2 |
-14,050.4 |
-17,959.7 |
-15,681.7 |
|
Amortization of Intangibles |
- |
- |
- |
- |
-38.9 |
|
Other Unusual Expense |
-14.6 |
271.2 |
-731.3 |
-175.2 |
- |
|
Restructuring Charge |
0.0 |
0.0 |
0.0 |
17.8 |
-240.9 |
|
Other Expense |
-14,062.1 |
-12,438.7 |
-11,828.6 |
-11,265.5 |
-8,953.8 |
|
Non-Interest Expense, Bank |
-30,857.7 |
-27,896.7 |
-26,610.4 |
-29,382.6 |
-24,915.3 |
|
Income Before Tax |
5,264.4 |
7,234.6 |
-8,397.2 |
11,974.5 |
10,463.3 |
|
|
|
|
|
|
|
|
Total Income Tax |
2,178.6 |
339.3 |
-2,698.6 |
3,064.4 |
2,835.7 |
|
Income After Tax |
3,085.8 |
6,895.2 |
-5,698.6 |
8,910.0 |
7,627.6 |
|
|
|
|
|
|
|
|
Minority Interest |
-26.5 |
20.9 |
89.2 |
-49.3 |
-11.3 |
|
Net Income Before Extraord Items |
3,059.3 |
6,916.1 |
-5,609.4 |
8,860.8 |
7,616.3 |
|
Net Income |
3,059.3 |
6,916.1 |
-5,609.4 |
8,860.8 |
7,616.3 |
|
|
|
|
|
|
|
|
Income Available to Common Excl Extraord Items |
3,059.3 |
6,916.1 |
-5,609.4 |
8,860.8 |
7,616.3 |
|
|
|
|
|
|
|
|
Income Available to Common Incl Extraord Items |
3,059.3 |
6,916.1 |
-5,609.4 |
8,860.8 |
7,616.3 |
|
|
|
|
|
|
|
|
Basic/Primary Weighted Average Shares |
753.3 |
688.3 |
552.5 |
519.7 |
513.2 |
|
Basic EPS Excl Extraord Items |
4.06 |
10.05 |
-10.15 |
17.05 |
14.84 |
|
Basic/Primary EPS Incl Extraord Items |
4.06 |
10.05 |
-10.15 |
17.05 |
14.84 |
|
Dilution Adjustment |
4.0 |
2.8 |
-1.5 |
- |
- |
|
Diluted Net Income |
3,063.3 |
6,918.9 |
-5,610.8 |
8,860.8 |
7,616.3 |
|
Diluted Weighted Average Shares |
790.8 |
718.3 |
552.5 |
543.7 |
571.2 |
|
Diluted EPS Excl Extraord Items |
3.87 |
9.63 |
-10.16 |
16.30 |
13.33 |
|
Diluted EPS Incl Extraord Items |
3.87 |
9.63 |
-10.16 |
16.30 |
13.33 |
|
Dividends per Share - Common Stock Primary Issue |
0.99 |
1.04 |
0.73 |
5.62 |
4.58 |
|
Gross Dividends - Common Stock |
923.1 |
648.1 |
452.0 |
3,112.4 |
2,515.7 |
|
Depreciation, Supplemental |
654.2 |
579.9 |
595.3 |
589.9 |
513.2 |
|
Total Special Items |
2,668.6 |
-353.2 |
664.1 |
-325.7 |
-284.8 |
|
Normalized Income Before Tax |
7,933.0 |
6,881.3 |
-7,733.2 |
11,648.7 |
10,178.4 |
|
|
|
|
|
|
|
|
Effect of Special Items on Income Taxes |
1,104.4 |
-16.6 |
232.4 |
-83.4 |
-77.2 |
|
Inc Tax Ex Impact of Sp Items |
3,282.9 |
322.8 |
-2,466.2 |
2,981.1 |
2,758.5 |
|
Normalized Income After Tax |
4,650.0 |
6,558.6 |
-5,266.9 |
8,667.6 |
7,419.9 |
|
|
|
|
|
|
|
|
Normalized Inc. Avail to Com. |
4,623.5 |
6,579.4 |
-5,177.7 |
8,618.4 |
7,408.6 |
|
|
|
|
|
|
|
|
Basic Normalized EPS |
6.14 |
9.56 |
-9.37 |
16.58 |
14.44 |
|
Diluted Normalized EPS |
5.85 |
9.16 |
-9.37 |
15.85 |
12.97 |
|
Amort of Intangibles, Supplemental |
347.0 |
242.0 |
280.8 |
154.7 |
111.7 |
|
Rental Expenses |
2,205.1 |
2,026.3 |
2,097.5 |
1,843.6 |
1,503.2 |
|
Bank Total Revenue |
55,285.7 |
58,946.1 |
81,359.8 |
118,601.9 |
100,079.1 |
|
Current Tax - Total |
1,761.4 |
751.0 |
-468.1 |
4,320.9 |
2,628.7 |
|
Current Tax - Total |
1,761.4 |
751.0 |
-468.1 |
4,320.9 |
2,628.7 |
|
Deferred Tax - Total |
417.2 |
-411.7 |
-2,230.6 |
-1,256.4 |
207.0 |
|
Deferred Tax - Total |
417.2 |
-411.7 |
-2,230.6 |
-1,256.4 |
207.0 |
|
Income Tax - Total |
2,178.6 |
339.3 |
-2,698.6 |
3,064.4 |
2,835.7 |
|
Interest Cost - Domestic |
697.9 |
635.6 |
662.6 |
596.7 |
495.6 |
|
Service Cost - Domestic |
321.8 |
258.7 |
386.1 |
362.7 |
356.3 |
|
Prior Service Cost - Domestic |
-102.0 |
25.0 |
20.5 |
15.1 |
40.2 |
|
Expected Return on Assets - Domestic |
-648.9 |
-560.5 |
-652.4 |
-595.4 |
-518.2 |
|
Actuarial Gains and Losses - Domestic |
0.0 |
0.0 |
1.5 |
1.4 |
-2.5 |
|
Curtailments & Settlements - Domestic |
-18.5 |
1.4 |
13.2 |
-15.1 |
-6.3 |
|
Other Pension, Net - Domestic |
0.0 |
0.0 |
-2.9 |
2.7 |
0.0 |
|
Domestic Pension Plan Expense |
250.3 |
360.2 |
428.6 |
368.2 |
365.1 |
|
Interest Cost - Post-Retirement |
11.9 |
9.7 |
10.2 |
10.9 |
12.5 |
|
Service Cost - Post-Retirement |
4.0 |
4.2 |
2.9 |
4.1 |
6.3 |
|
Actuarial Gains and Losses - Post-Retir. |
0.0 |
0.0 |
2.9 |
4.1 |
0.0 |
|
Post-Retirement Plan Expense |
15.9 |
13.9 |
16.1 |
19.2 |
18.8 |
|
Defined Contribution Expense - Domestic |
316.5 |
282.3 |
301.3 |
277.8 |
207.0 |
|
Total Pension Expense |
582.7 |
656.4 |
746.0 |
665.2 |
591.0 |
|
Discount Rate - Domestic |
5.40% |
5.60% |
5.50% |
4.80% |
4.30% |
|
Discount Rate - Post-Retirement |
5.90% |
6.10% |
6.10% |
5.80% |
5.40% |
|
Expected Rate of Return - Domestic |
5.00% |
4.50% |
5.00% |
4.60% |
4.40% |
|
Compensation Rate - Domestic |
3.40% |
3.00% |
3.30% |
3.20% |
3.30% |
|
Pension Payment Rate - Domestic |
2.40% |
1.80% |
1.80% |
1.70% |
- |
|
Total Plan Interest Cost |
709.9 |
645.3 |
672.8 |
607.7 |
508.2 |
|
Total Plan Service Cost |
325.8 |
262.8 |
389.1 |
366.8 |
362.6 |
|
Total Plan Expected Return |
-648.9 |
-560.5 |
-652.4 |
-595.4 |
-518.2 |
|
Total Plan Other Expense |
0.0 |
0.0 |
-2.9 |
2.7 |
0.0 |
Interim Income Statement
Standardized
Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)
|
|
30-Sep-2011 |
30-Jun-2011 |
31-Mar-2011 |
31-Dec-2010 |
30-Sep-2010 |
|
Period Length |
3 Months |
3 Months |
3 Months |
3 Months |
3 Months |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
EUR |
EUR |
EUR |
EUR |
EUR |
|
Exchange Rate
(Period Average) |
0.707825 |
0.695476 |
0.731463 |
0.736368 |
0.774922 |
|
|
|
|
|
|
|
|
Interest & Fees on Loans |
12,165.4 |
14,147.1 |
11,441.5 |
10,023.5 |
8,646.0 |
|
Interest Income, Bank |
12,165.4 |
14,147.1 |
11,441.5 |
10,023.5 |
8,646.0 |
|
Interest on Other Borrowings |
6,127.2 |
7,688.3 |
5,744.7 |
3,882.6 |
4,239.1 |
|
Total Interest Expense |
6,127.2 |
7,688.3 |
5,744.7 |
3,882.6 |
4,239.1 |
|
Net Interest Income |
6,038.2 |
6,458.9 |
5,696.8 |
6,141.0 |
4,406.9 |
|
|
|
|
|
|
|
|
Loan Loss Provision |
654.1 |
667.2 |
509.9 |
552.7 |
467.1 |
|
Net Interest Income after Loan Loss Provision |
5,384.1 |
5,791.7 |
5,186.9 |
5,588.2 |
3,939.8 |
|
|
|
|
|
|
|
|
Fees & Commissions from Operations |
3,964.3 |
4,381.2 |
4,212.1 |
4,147.4 |
3,312.6 |
|
Investment Securities Gains |
-789.7 |
1,000.8 |
4,194.3 |
-206.4 |
1,290.5 |
|
Other Unusual Income |
0.1 |
0.1 |
0.0 |
0.0 |
-3.0 |
|
Non-Interest Income, Bank |
3,255.0 |
5,479.7 |
8,362.7 |
3,983.1 |
1,635.0 |
|
Labor & Related Expenses |
-3,806.0 |
-4,838.4 |
-5,848.6 |
-4,177.3 |
-3,849.4 |
|
Other Unusual Expense |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Restructuring Charge |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Other Expense |
-3,502.3 |
-3,876.5 |
-3,570.9 |
-4,435.3 |
-3,077.7 |
|
Non-Interest Expense, Bank |
-7,308.3 |
-8,714.9 |
-9,419.5 |
-8,612.5 |
-6,927.1 |
|
Income Before Tax |
1,330.8 |
2,556.5 |
4,130.1 |
958.8 |
-1,352.4 |
|
|
|
|
|
|
|
|
Total Income Tax |
233.1 |
783.6 |
1,218.1 |
137.2 |
219.4 |
|
Income After Tax |
1,097.7 |
1,772.9 |
2,912.0 |
821.6 |
-1,571.8 |
|
|
|
|
|
|
|
|
Minority Interest |
-73.5 |
-50.3 |
-93.0 |
-5.4 |
6.5 |
|
Net Income Before Extraord Items |
1,024.3 |
1,722.6 |
2,819.0 |
816.2 |
-1,565.3 |
|
Net Income |
1,024.3 |
1,722.6 |
2,819.0 |
816.2 |
-1,565.3 |
|
|
|
|
|
|
|
|
Income Available to Common Excl Extraord Items |
1,024.3 |
1,722.6 |
2,819.0 |
816.2 |
-1,565.3 |
|
|
|
|
|
|
|
|
Income Available to Common Incl Extraord Items |
1,024.3 |
1,722.6 |
2,819.0 |
816.2 |
-1,565.3 |
|
|
|
|
|
|
|
|
Basic/Primary Weighted Average Shares |
921.4 |
936.9 |
937.3 |
920.9 |
695.3 |
|
Basic EPS Excl Extraord Items |
1.11 |
1.84 |
3.01 |
0.89 |
-2.25 |
|
Basic/Primary EPS Incl Extraord Items |
1.11 |
1.84 |
3.01 |
0.89 |
-2.25 |
|
Dilution Adjustment |
- |
- |
- |
4.1 |
0.0 |
|
Diluted Net Income |
1,024.3 |
1,722.6 |
2,819.0 |
820.2 |
-1,565.3 |
|
Diluted Weighted Average Shares |
951.0 |
967.7 |
968.8 |
1,012.7 |
695.3 |
|
Diluted EPS Excl Extraord Items |
1.08 |
1.78 |
2.91 |
0.81 |
-2.25 |
|
Diluted EPS Incl Extraord Items |
1.08 |
1.78 |
2.91 |
0.81 |
-2.25 |
|
Dividends per Share - Common Stock Primary Issue |
0.00 |
0.00 |
0.00 |
1.02 |
0.00 |
|
Gross Dividends - Common Stock |
0.0 |
0.0 |
0.0 |
946.5 |
0.0 |
|
Depreciation, Supplemental |
1,114.7 |
2,026.0 |
60.2 |
950.6 |
3,334.5 |
|
Total Special Items |
-80.5 |
-97.8 |
43.7 |
-42.1 |
2,968.0 |
|
Normalized Income Before Tax |
1,250.3 |
2,458.7 |
4,173.8 |
916.7 |
1,615.6 |
|
|
|
|
|
|
|
|
Effect of Special Items on Income Taxes |
-14.1 |
-30.0 |
12.9 |
-6.0 |
1,038.8 |
|
Inc Tax Ex Impact of Sp Items |
219.0 |
753.7 |
1,231.0 |
131.1 |
1,258.2 |
|
Normalized Income After Tax |
1,031.3 |
1,705.1 |
2,942.8 |
785.5 |
357.5 |
|
|
|
|
|
|
|
|
Normalized Inc. Avail to Com. |
957.8 |
1,654.8 |
2,849.9 |
780.1 |
363.9 |
|
|
|
|
|
|
|
|
Basic Normalized EPS |
1.04 |
1.77 |
3.04 |
0.85 |
0.52 |
|
Diluted Normalized EPS |
1.01 |
1.71 |
2.94 |
0.77 |
0.52 |
|
Rental Expenses |
673.9 |
665.7 |
659.0 |
649.1 |
566.5 |
|
Bank Total Revenue |
15,420.5 |
19,626.8 |
19,804.1 |
14,006.6 |
10,281.0 |
|
Interest Cost - Domestic |
213.3 |
215.7 |
205.1 |
179.3 |
174.2 |
|
Service Cost - Domestic |
80.5 |
94.9 |
91.6 |
88.3 |
76.1 |
|
Prior Service Cost - Domestic |
5.7 |
4.3 |
6.8 |
-123.6 |
1.3 |
|
Expected Return on Assets - Domestic |
-187.9 |
-189.8 |
-181.8 |
-163.0 |
-163.9 |
|
Actuarial Gains and Losses - Domestic |
- |
- |
- |
0.0 |
- |
|
Curtailments & Settlements - Domestic |
- |
- |
- |
-19.0 |
- |
|
Other Pension, Net - Domestic |
- |
- |
- |
0.0 |
- |
|
Domestic Pension Plan Expense |
111.6 |
125.1 |
121.7 |
-38.0 |
87.8 |
|
Interest Cost - Post-Retirement |
2.8 |
2.9 |
2.7 |
4.1 |
2.6 |
|
Service Cost - Post-Retirement |
0.0 |
1.4 |
1.4 |
1.4 |
0.0 |
|
Actuarial Gains and Losses - Post-Retir. |
-18.4 |
- |
- |
0.0 |
- |
|
Post-Retirement Plan Expense |
-15.5 |
4.3 |
4.1 |
5.4 |
2.6 |
|
Defined Contribution Expense - Domestic |
134.2 |
112.2 |
144.9 |
85.6 |
68.4 |
|
Total Pension Expense |
230.3 |
241.6 |
270.7 |
53.0 |
158.7 |
|
Total Plan Interest Cost |
216.2 |
218.6 |
207.8 |
183.3 |
176.8 |
|
Total Plan Service Cost |
80.5 |
96.3 |
93.0 |
89.6 |
76.1 |
|
Total Plan Expected Return |
-187.9 |
-189.8 |
-181.8 |
-163.0 |
-163.9 |
|
Total Plan Other Expense |
- |
- |
- |
0.0 |
- |
Annual Balance Sheet
Standardized
Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)
|
|
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
31-Dec-2007 |
31-Dec-2006 |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Reclassified
Normal |
Restated Normal |
Restated Normal |
|
Filed Currency |
EUR |
EUR |
EUR |
EUR |
EUR |
|
Exchange Rate |
0.745406 |
0.696986 |
0.719399 |
0.683971 |
0.758351 |
|
Auditor |
KPMG AG |
KPMG LLP |
KPMG LLP |
KPMG LLP |
KPMG LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Cash & Due from Banks |
23,017.0 |
13,409.2 |
13,658.6 |
12,620.4 |
9,241.1 |
|
Interest-earning Deposits |
123,928.4 |
67,767.5 |
89,990.4 |
31,602.2 |
25,316.8 |
|
Trading Account Assets |
363,950.4 |
337,037.1 |
343,984.6 |
- |
- |
|
Other Short Term Investments |
269,439.6 |
254,681.0 |
259,769.8 |
2,096,538.8 |
1,539,646.5 |
|
Securities Held |
27,320.7 |
9,785.0 |
12,881.6 |
19,879.5 |
18,810.5 |
|
Securities for Sale |
955,245.3 |
882,699.8 |
1,736,628.4 |
61,835.9 |
50,157.5 |
|
Total Investment Securities |
982,566.0 |
892,484.8 |
1,749,510.0 |
81,715.4 |
68,968.0 |
|
Other Earning Assets, Total |
1,739,884.4 |
1,551,970.5 |
2,443,254.7 |
2,209,856.4 |
1,633,931.3 |
|
Total Gross Loans |
551,410.6 |
375,112.5 |
377,008.0 |
293,282.8 |
237,612.8 |
|
Loan Loss Allowances |
-4,421.7 |
-4,796.4 |
-2,693.9 |
-2,492.8 |
-2,202.1 |
|
Net Loans |
546,988.8 |
370,316.1 |
374,314.1 |
290,790.0 |
235,410.7 |
|
Buildings |
6,232.8 |
2,107.6 |
2,039.2 |
2,254.5 |
3,486.5 |
|
Machinery/Equipment |
4,857.8 |
3,932.6 |
3,475.1 |
3,358.3 |
3,093.6 |
|
Construction in
Progress |
399.8 |
668.6 |
1,830.7 |
181.3 |
146.4 |
|
Other
Property/Plant/Equipment |
2,432.2 |
2,284.1 |
2,103.1 |
2,111.2 |
1,765.7 |
|
Property/Plant/Equipment - Gross |
13,922.6 |
8,993.0 |
9,448.2 |
7,905.3 |
8,492.1 |
|
Accumulated Depreciation |
-6,138.9 |
-5,008.7 |
-4,288.3 |
-4,383.2 |
-4,218.4 |
|
Property/Plant/Equipment - Net |
7,783.7 |
3,984.3 |
5,159.9 |
3,522.1 |
4,273.7 |
|
Goodwill, Net |
14,437.8 |
10,645.8 |
10,471.2 |
- |
- |
|
Intangibles - Gross |
8,494.7 |
- |
- |
- |
- |
|
Accumulated Intangible Amortization |
-2,011.0 |
- |
- |
- |
- |
|
Intangibles, Net |
6,483.7 |
3,944.1 |
3,258.3 |
13,718.4 |
11,356.2 |
|
LT Investment - Affiliate Companies |
3,498.8 |
11,173.8 |
3,116.5 |
4,921.3 |
3,350.7 |
|
Long Term Investments |
3,498.8 |
11,173.8 |
3,116.5 |
4,921.3 |
3,350.7 |
|
Deferred Income Tax - Long Term Asset |
11,189.9 |
10,258.5 |
11,773.7 |
6,984.2 |
5,712.4 |
|
Other Long Term Assets, Total |
11,189.9 |
10,258.5 |
11,773.7 |
6,984.2 |
5,712.4 |
|
Other Assets |
203,215.3 |
177,375.3 |
196,471.1 |
272,037.8 |
186,115.6 |
|
Other Assets, Total |
203,215.3 |
177,375.3 |
196,471.1 |
272,037.8 |
186,115.6 |
|
Total Assets |
2,556,499.3 |
2,153,077.7 |
3,061,478.1 |
2,814,450.6 |
2,089,391.7 |
|
|
|
|
|
|
|
|
Total Deposits |
716,366.2 |
493,869.6 |
549,838.4 |
669,539.9 |
543,173.0 |
|
Other Bearing Liabilities |
4,394.9 |
7,982.9 |
4,470.4 |
13,984.5 |
27,921.1 |
|
Other Bearing Liabilities, Total |
4,394.9 |
7,982.9 |
4,470.4 |
13,984.5 |
27,921.1 |
|
Other Short Term Borrowings |
37,458.8 |
65,274.0 |
121,097.0 |
1,533,436.1 |
1,050,725.4 |
|
Total Short Term Borrowings |
37,458.8 |
65,274.0 |
121,097.0 |
1,533,436.1 |
1,050,725.4 |
|
Income Taxes Payable |
3,670.5 |
3,071.8 |
3,272.2 |
6,171.3 |
5,318.1 |
|
Other Current liabilities, Total |
3,670.5 |
3,071.8 |
3,272.2 |
6,171.3 |
5,318.1 |
|
Long Term Debt |
227,607.4 |
189,074.2 |
186,066.5 |
185,246.1 |
146,848.8 |
|
Total Long Term Debt |
227,607.4 |
189,074.2 |
186,066.5 |
185,246.1 |
146,848.8 |
|
Total Debt |
265,066.1 |
254,348.2 |
307,163.5 |
1,718,682.2 |
1,197,574.2 |
|
|
|
|
|
|
|
|
Deferred Income Tax - LT Liability |
3,095.0 |
3,094.8 |
5,259.9 |
3,479.7 |
3,013.1 |
|
Deferred Income Tax |
3,095.0 |
3,094.8 |
5,259.9 |
3,479.7 |
3,013.1 |
|
Minority Interest |
2,078.1 |
1,896.7 |
1,683.4 |
2,079.0 |
945.5 |
|
Reserves |
2,956.8 |
1,875.2 |
1,971.1 |
1,893.4 |
2,331.4 |
|
Other Liabilities |
1,493,345.0 |
1,334,359.1 |
2,145,140.5 |
343,219.2 |
265,919.0 |
|
Other Liabilities, Total |
1,496,301.8 |
1,336,234.3 |
2,147,111.5 |
345,112.5 |
268,250.3 |
|
Total Liabilities |
2,490,972.6 |
2,100,498.4 |
3,018,799.4 |
2,759,049.2 |
2,046,195.4 |
|
|
|
|
|
|
|
|
Common Stock |
3,192.9 |
2,279.8 |
2,030.9 |
1,985.5 |
1,770.9 |
|
Common Stock |
3,192.9 |
2,279.8 |
2,030.9 |
1,985.5 |
1,770.9 |
|
Additional Paid-In Capital |
31,546.5 |
21,277.3 |
20,796.5 |
23,112.1 |
20,104.1 |
|
Retained Earnings (Accumulated Deficit) |
34,879.0 |
34,514.3 |
27,903.9 |
38,087.9 |
26,967.7 |
|
Treasury Stock - Common |
-603.7 |
-68.9 |
-1,305.3 |
-4,121.5 |
-3,135.7 |
|
Unrealized Gain (Loss) |
-3,489.4 |
-5,423.4 |
-6,743.1 |
-76.0 |
-59.3 |
|
Translation Adjustment |
- |
- |
- |
-3,707.8 |
-1,002.2 |
|
Other Equity |
0.0 |
0.0 |
-4.2 |
121.4 |
-1,449.2 |
|
Other Equity, Total |
0.0 |
0.0 |
-4.2 |
-3,586.4 |
-2,451.4 |
|
Total Equity |
65,525.3 |
52,579.3 |
42,678.7 |
55,401.5 |
43,196.3 |
|
|
|
|
|
|
|
|
Total Liabilities & Shareholders’ Equity |
2,556,497.9 |
2,153,077.7 |
3,061,478.1 |
2,814,450.6 |
2,089,391.7 |
|
|
|
|
|
|
|
|
Shares Outstanding - Common Stock Primary
Issue |
919.1 |
679.7 |
616.6 |
549.1 |
546.5 |
|
Total Common Shares Outstanding |
919.1 |
679.7 |
616.6 |
549.1 |
546.5 |
|
Treasury Shares - Common Stock Primary Issue |
10.4 |
0.7 |
9.0 |
32.1 |
28.6 |
|
Employees |
102,062 |
77,053 |
80,456 |
78,291 |
68,849 |
|
Number of Common Shareholders |
640,623 |
586,295 |
581,938 |
360,785 |
348,196 |
|
Accumulated Goodwill Amortization Suppl. |
- |
- |
- |
- |
273.0 |
|
Accumulated Intangible Amort, Suppl. |
2,011.0 |
1,675.8 |
1,836.3 |
1,241.3 |
961.3 |
|
Total Risk-Weighted Capital |
464.4 |
392.4 |
427.8 |
481.0 |
363.2 |
|
Tier 1 Capital % |
12.30% |
12.60% |
10.10% |
8.60% |
8.50% |
|
Total Capital % |
14.10% |
13.90% |
12.20% |
11.60% |
12.50% |
|
Total Long Term Debt, Supplemental |
- |
189,074.2 |
- |
- |
- |
|
Long Term Debt Maturing within 1 Year |
- |
27,109.6 |
- |
- |
- |
|
Long Term Debt Maturing in Year 2 |
- |
28,419.5 |
- |
- |
- |
|
Long Term Debt Maturing in Year 3 |
- |
25,525.6 |
- |
- |
- |
|
Long Term Debt Maturing in Year 4 |
- |
20,251.5 |
- |
- |
- |
|
Long Term Debt Maturing in Year 5 |
- |
21,785.2 |
- |
- |
- |
|
Long Term Debt Maturing in 2-3 Years |
- |
53,945.2 |
- |
- |
- |
|
Long Term Debt Maturing in 4-5 Years |
- |
42,036.7 |
- |
- |
- |
|
Long Term Debt Matur. in Year 6 & Beyond |
- |
65,982.7 |
- |
- |
- |
|
Interest Costs |
-148.9 |
-155.0 |
-222.4 |
-412.3 |
-425.9 |
|
Total Capital Leases, Supplemental |
59.0 |
239.6 |
266.9 |
657.9 |
771.4 |
|
Capital Lease Payments Due in Year 1 |
22.8 |
35.9 |
44.5 |
290.9 |
162.2 |
|
Capital Lease Payments Due in Year 2 |
21.8 |
38.0 |
41.0 |
68.0 |
118.0 |
|
Capital Lease Payments Due in Year 3 |
21.8 |
38.0 |
41.0 |
68.0 |
118.0 |
|
Capital Lease Payments Due in Year 4 |
21.8 |
38.0 |
41.0 |
68.0 |
118.0 |
|
Capital Lease Payments Due in Year 5 |
21.8 |
38.0 |
41.0 |
68.0 |
118.0 |
|
Capital Lease Payments Due in 2-3 Years |
43.6 |
76.0 |
82.0 |
136.0 |
236.0 |
|
Capital Lease Payments Due in 4-5 Years |
43.6 |
76.0 |
82.0 |
136.0 |
236.0 |
|
Cap. Lease Pymts. Due in Year 6 & Beyond |
97.9 |
206.6 |
280.8 |
507.3 |
563.1 |
|
Total Operating Leases, Supplemental |
7,004.2 |
7,354.5 |
7,991.4 |
6,203.5 |
4,304.1 |
|
Operating Lease Payments Due in Year 1 |
1,114.8 |
1,044.5 |
1,063.4 |
934.2 |
743.7 |
|
Operating Lease Payments Due in Year 2 |
776.8 |
733.9 |
760.0 |
653.9 |
523.5 |
|
Operating Lease Payments Due in Year 3 |
776.8 |
733.9 |
760.0 |
653.9 |
523.5 |
|
Operating Lease Payments Due in Year 4 |
776.8 |
733.9 |
760.0 |
653.9 |
523.5 |
|
Operating Lease Payments Due in Year 5 |
776.8 |
733.9 |
760.0 |
653.9 |
523.5 |
|
Operating Lease Pymts. Due in 2-3 Years |
1,553.5 |
1,467.7 |
1,520.0 |
1,307.8 |
1,047.0 |
|
Operating Lease Pymts. Due in 4-5 Years |
1,553.5 |
1,467.7 |
1,520.0 |
1,307.8 |
1,047.0 |
|
Oper. Lse. Pymts. Due in Year 6 & Beyond |
2,782.4 |
3,374.5 |
3,888.0 |
2,653.6 |
1,466.3 |
|
Pension Obligation - Domestic |
16,193.9 |
13,509.6 |
11,383.1 |
12,453.7 |
12,038.0 |
|
Post-Retirement Obligation |
206.6 |
195.1 |
165.4 |
169.6 |
193.8 |
|
Plan Assets - Domestic |
14,859.0 |
13,417.8 |
12,169.9 |
13,642.4 |
12,457.3 |
|
Funded Status - Domestic |
-1,334.8 |
-91.8 |
786.8 |
1,188.6 |
419.3 |
|
Funded Status - Post-Retirement |
-206.6 |
-195.1 |
-165.4 |
-169.6 |
-193.8 |
|
Total Funded Status |
-1,541.4 |
-287.0 |
621.4 |
1,019.0 |
225.5 |
|
Discount Rate - Domestic |
5.10% |
5.40% |
5.60% |
5.50% |
4.80% |
|
Discount Rate - Post-Retirement |
5.30% |
5.90% |
6.10% |
6.10% |
5.80% |
|
Compensation Rate - Domestic |
3.30% |
3.40% |
3.00% |
3.30% |
3.20% |
|
Pension Payment Rate - Domestic |
2.40% |
2.40% |
1.80% |
1.80% |
- |
|
Equity % - Domestic |
9.00% |
8.00% |
7.00% |
8.00% |
10.00% |
|
Debt Securities % - Domestic |
88.00% |
90.00% |
90.00% |
87.00% |
87.00% |
|
Other Investments % - Domestic |
3.00% |
2.00% |
3.00% |
5.00% |
3.00% |
|
Total Plan Obligations |
16,400.4 |
13,704.7 |
11,548.5 |
12,623.3 |
12,231.8 |
|
Total Plan Assets |
14,859.0 |
13,417.8 |
12,169.9 |
13,642.4 |
12,457.3 |
Interim Balance Sheet
Standardized
|
Financials in:
USD (mil) Except for share
items (millions) and per share items (actual units) |
|
|
30-Sep-2011 |
30-Jun-2011 |
31-Mar-2011 |
31-Dec-2010 |
30-Sep-2010 |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Reclassified
Normal |
Updated Normal |
|
Filed Currency |
EUR |
EUR |
EUR |
EUR |
EUR |
|
Exchange Rate |
0.745323 |
0.689727 |
0.704672 |
0.745406 |
0.732493 |
|
|
|
|
|
|
|
|
Cash & Due from Banks |
31,807.7 |
30,071.3 |
20,347.1 |
23,017.0 |
16,367.4 |
|
Interest-earning Deposits |
157,232.5 |
133,490.6 |
119,577.6 |
123,928.4 |
96,732.6 |
|
Trading Account Assets |
358,527.7 |
419,909.9 |
405,324.8 |
363,950.4 |
374,829.3 |
|
Other Short Term Investments |
311,835.2 |
306,650.5 |
298,493.5 |
269,439.6 |
282,833.9 |
|
Securities Held |
39,710.3 |
29,953.9 |
35,446.3 |
27,320.7 |
30,848.1 |
|
Securities for Sale |
1,261,139.0 |
874,909.1 |
869,249.8 |
955,245.3 |
1,154,116.9 |
|
Total Investment Securities |
1,300,849.3 |
904,863.0 |
904,696.1 |
982,566.0 |
1,184,964.9 |
|
Other Earning Assets, Total |
2,128,444.7 |
1,764,914.0 |
1,728,092.0 |
1,739,884.4 |
1,939,360.8 |
|
Net Loans |
553,377.5 |
572,296.4 |
559,600.8 |
546,988.8 |
382,018.5 |
|
Property/Plant/Equipment - Net |
7,254.6 |
7,588.5 |
7,166.5 |
7,783.7 |
4,472.4 |
|
Intangibles, Net |
20,745.4 |
21,578.1 |
21,424.2 |
20,920.1 |
15,975.6 |
|
LT Investment - Affiliate Companies |
5,479.5 |
5,798.0 |
4,920.0 |
3,498.8 |
7,578.2 |
|
Long Term Investments |
5,479.5 |
5,798.0 |
4,920.0 |
3,498.8 |
7,578.2 |
|
Other Assets |
315,292.8 |
279,534.0 |
272,779.4 |
214,405.2 |
306,944.7 |
|
Other Assets, Total |
315,292.8 |
279,534.0 |
272,779.4 |
214,405.2 |
306,944.7 |
|
Total Assets |
3,062,402.1 |
2,681,780.3 |
2,614,329.9 |
2,556,497.9 |
2,672,717.6 |
|
|
|
|
|
|
|
|
Total Deposits |
789,210.7 |
796,218.5 |
756,526.5 |
716,366.2 |
544,224.7 |
|
Other Bearing Liabilities |
123,694.0 |
100,603.6 |
109,405.5 |
92,377.8 |
100,732.6 |
|
Other Bearing Liabilities, Total |
123,694.0 |
100,603.6 |
109,405.5 |
92,377.8 |
100,732.6 |
|
Other Short Term Borrowings |
54,540.1 |
69,602.9 |
47,241.8 |
37,458.8 |
59,813.5 |
|
Total Short Term Borrowings |
54,540.1 |
69,602.9 |
47,241.8 |
37,458.8 |
59,813.5 |
|
Income Taxes Payable |
6,746.1 |
6,856.3 |
6,974.9 |
6,765.4 |
5,620.5 |
|
Other Current liabilities, Total |
6,746.1 |
6,856.3 |
6,974.9 |
6,765.4 |
5,620.5 |
|
Long Term Debt |
213,582.5 |
231,781.7 |
229,193.2 |
227,607.4 |
196,437.3 |
|
Total Long Term Debt |
213,582.5 |
231,781.7 |
229,193.2 |
227,607.4 |
196,437.3 |
|
Total Debt |
268,122.6 |
301,384.7 |
276,435.0 |
265,066.1 |
256,250.8 |
|
|
|
|
|
|
|
|
Minority Interest |
1,642.2 |
2,353.1 |
2,283.3 |
2,078.1 |
1,407.5 |
|
Other Liabilities |
1,803,373.6 |
1,401,791.8 |
1,391,776.6 |
1,408,351.1 |
1,711,910.3 |
|
Other Liabilities, Total |
1,803,373.6 |
1,401,791.8 |
1,391,776.6 |
1,408,351.1 |
1,711,910.3 |
|
Total Liabilities |
2,992,789.3 |
2,609,208.1 |
2,543,401.8 |
2,491,004.8 |
2,620,146.4 |
|
|
|
|
|
|
|
|
Common Stock |
3,193.2 |
3,450.6 |
3,377.5 |
3,192.9 |
2,169.3 |
|
Common Stock |
3,193.2 |
3,450.6 |
3,377.5 |
3,192.9 |
2,169.3 |
|
Additional Paid-In Capital |
31,700.3 |
34,367.2 |
33,286.4 |
31,546.5 |
20,016.6 |
|
Retained Earnings (Accumulated Deficit) |
39,739.8 |
41,465.7 |
39,764.6 |
34,846.8 |
34,571.0 |
|
Treasury Stock - Common |
-1,390.0 |
-1,126.5 |
-300.8 |
-603.7 |
-285.3 |
|
Unrealized Gain (Loss) |
-3,630.6 |
-5,584.8 |
-5,199.6 |
-3,489.4 |
-3,900.4 |
|
Other Equity |
0.0 |
0.0 |
- |
0.0 |
0.0 |
|
Other Equity, Total |
0.0 |
0.0 |
- |
0.0 |
0.0 |
|
Total Equity |
69,612.8 |
72,572.2 |
70,928.0 |
65,493.1 |
52,571.1 |
|
|
|
|
|
|
|
|
Total Liabilities & Shareholders’ Equity |
3,062,402.1 |
2,681,780.3 |
2,614,329.9 |
2,556,497.9 |
2,672,717.6 |
|
|
|
|
|
|
|
|
Shares Outstanding - Common Stock Primary
Issue |
899.1 |
910.9 |
925.3 |
919.1 |
616.9 |
|
Total Common Shares Outstanding |
899.1 |
910.9 |
925.3 |
919.1 |
616.9 |
|
Treasury Shares - Common Stock Primary Issue |
30.4 |
18.6 |
4.2 |
10.4 |
4.0 |
|
Employees |
102,073 |
101,694 |
101,877 |
102,062 |
82,504 |
|
Total Risk-Weighted Capital |
453.0 |
463.5 |
465.3 |
464.4 |
378.2 |
|
Tier 1 Capital % |
13.80% |
14.00% |
13.40% |
12.30% |
11.50% |
|
Total Capital % |
15.30% |
15.60% |
14.90% |
14.10% |
12.20% |
Annual Cash Flows
Standardized
Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)
|
|
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
31-Dec-2007 |
31-Dec-2006 |
|
Period Length |
12 Months |
12 Months |
12 Months |
12 Months |
12 Months |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
Restated Normal |
|
Filed Currency |
EUR |
EUR |
EUR |
EUR |
EUR |
|
Exchange Rate
(Period Average) |
0.755078 |
0.719047 |
0.683679 |
0.730637 |
0.796979 |
|
Auditor |
KPMG AG |
KPMG LLP |
KPMG LLP |
KPMG LLP |
KPMG LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Net Income/Starting Line |
3,085.8 |
6,895.2 |
-5,698.6 |
8,910.0 |
7,627.6 |
|
Depreciation |
5,635.2 |
2,478.3 |
4,456.8 |
2,369.2 |
1,700.2 |
|
Depreciation/Depletion |
5,635.2 |
2,478.3 |
4,456.8 |
2,369.2 |
1,700.2 |
|
Deferred Taxes |
417.2 |
-411.7 |
-2,230.6 |
-1,256.4 |
207.0 |
|
Unusual Items |
0.0 |
0.0 |
0.0 |
-17.8 |
37.6 |
|
Equity in Net Earnings (Loss) |
-605.2 |
-262.8 |
-77.5 |
-490.0 |
-259.7 |
|
Non-Cash Items |
-605.2 |
-262.8 |
-77.5 |
-507.8 |
-222.1 |
|
Loan Loss Provision |
1,687.2 |
3,657.6 |
1,585.5 |
891.0 |
441.7 |
|
Other Assets |
-87,502.2 |
1,075,683.8 |
-356,611.7 |
-559,302.0 |
-189,801.7 |
|
Other Liabilities |
83,235.1 |
-1,128,510.7 |
475,002.0 |
606,567.6 |
212,611.5 |
|
Other Operating Cash Flow |
-6,602.0 |
-1,728.7 |
-4,048.7 |
-1,717.7 |
661.2 |
|
Investment Securities, Gains/Losses |
-480.7 |
-912.3 |
-2,533.4 |
-2,610.0 |
-1,145.6 |
|
Loans, Gains/Losses |
-3,738.7 |
23,938.6 |
-55,553.8 |
-30,363.9 |
-18,072.0 |
|
Changes in Working Capital |
-13,401.3 |
-27,871.6 |
57,840.0 |
13,465.0 |
4,695.2 |
|
Cash from Operating Activities |
-4,868.4 |
-19,172.6 |
54,290.1 |
22,979.9 |
14,007.9 |
|
|
|
|
|
|
|
|
Purchase of Fixed Assets |
-1,156.2 |
-823.3 |
-1,373.5 |
-923.9 |
-760.4 |
|
Capital Expenditures |
-1,156.2 |
-823.3 |
-1,373.5 |
-923.9 |
-760.4 |
|
Sale of Fixed Assets |
143.0 |
54.2 |
156.5 |
1,350.9 |
154.3 |
|
Sale/Maturity of Investment |
19,975.4 |
25,777.2 |
56,789.8 |
30,083.3 |
27,847.6 |
|
Purchase of Investments |
-18,848.4 |
-21,990.2 |
-56,605.5 |
-36,262.9 |
-30,584.2 |
|
Other Investing Cash Flow |
9,788.4 |
-2,460.2 |
-92.1 |
-253.2 |
-1,011.3 |
|
Other Investing Cash Flow Items, Total |
11,058.5 |
1,381.0 |
248.7 |
-5,081.9 |
-3,593.6 |
|
Cash from Investing Activities |
9,902.3 |
557.7 |
-1,124.8 |
-6,005.7 |
-4,353.9 |
|
|
|
|
|
|
|
|
Other Financing Cash Flow |
307.3 |
1,956.8 |
5,442.6 |
2,772.9 |
949.8 |
|
Financing Cash Flow Items |
307.3 |
1,956.8 |
5,442.6 |
2,772.9 |
949.8 |
|
Cash Dividends Paid - Common |
-615.8 |
-429.7 |
-3,326.1 |
-2,744.2 |
-1,554.6 |
|
Total Cash Dividends Paid |
-615.8 |
-429.7 |
-3,326.1 |
-2,744.2 |
-1,554.6 |
|
Sale/Issuance of
Common |
31,227.2 |
25,187.5 |
34,584.9 |
54,908.2 |
46,500.6 |
|
Repurchase/Retirement
of Common |
-20,350.2 |
-26,754.9 |
-31,792.7 |
-56,290.6 |
-48,721.5 |
|
Common Stock, Net |
10,877.0 |
-1,567.4 |
2,792.2 |
-1,382.4 |
-2,220.9 |
|
Issuance (Retirement) of Stock, Net |
10,877.0 |
-1,567.4 |
2,792.2 |
-1,382.4 |
-2,220.9 |
|
Long Term Debt Issued |
1,776.0 |
635.6 |
765.0 |
587.2 |
1,224.6 |
|
Long Term Debt
Reduction |
-303.3 |
-2,013.8 |
-963.9 |
-3,844.6 |
-2,479.4 |
|
Long Term Debt, Net |
1,472.7 |
-1,378.2 |
-198.9 |
-3,257.4 |
-1,254.7 |
|
Issuance (Retirement) of Debt, Net |
1,472.7 |
-1,378.2 |
-198.9 |
-3,257.4 |
-1,254.7 |
|
Cash from Financing Activities |
12,041.1 |
-1,418.5 |
4,709.8 |
-4,611.0 |
-4,080.4 |
|
|
|
|
|
|
|
|
Foreign Exchange Effects |
2,530.9 |
959.6 |
-588.0 |
-395.5 |
-639.9 |
|
Net Change in Cash |
19,605.9 |
-19,073.9 |
57,287.1 |
11,967.6 |
4,933.6 |
|
|
|
|
|
|
|
|
Net Cash - Beginning Balance |
68,269.7 |
90,764.6 |
38,172.9 |
23,751.9 |
16,841.1 |
|
Net Cash - Ending Balance |
87,875.7 |
71,690.7 |
95,460.0 |
35,719.5 |
21,774.7 |
|
Cash Taxes Paid |
1,038.3 |
-723.2 |
-3,649.4 |
3,840.5 |
- |
Interim Cash Flows
Standardized
Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)
|
|
30-Sep-2011 |
30-Jun-2011 |
31-Mar-2011 |
31-Dec-2010 |
30-Sep-2010 |
|
Period Length |
9 Months |
6 Months |
3 Months |
12 Months |
9 Months |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
EUR |
EUR |
EUR |
EUR |
EUR |
|
Exchange Rate
(Period Average) |
0.711706 |
0.713558 |
0.731463 |
0.755078 |
0.761121 |
|
|
|
|
|
|
|
|
Net Income/Starting Line |
5,817.0 |
4,713.0 |
2,912.0 |
3,085.8 |
2,265.1 |
|
Depreciation |
3,150.2 |
2,036.3 |
60.2 |
5,635.2 |
4,670.7 |
|
Depreciation/Depletion |
3,150.2 |
2,036.3 |
60.2 |
5,635.2 |
4,670.7 |
|
Deferred Taxes |
276.8 |
801.6 |
709.5 |
417.2 |
915.8 |
|
Unusual Items |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Equity in Net Earnings (Loss) |
-198.1 |
-84.1 |
34.2 |
-605.2 |
-457.2 |
|
Non-Cash Items |
-198.1 |
-84.1 |
34.2 |
-605.2 |
-457.2 |
|
Loan Loss Provision |
1,826.6 |
1,173.0 |
509.9 |
1,687.2 |
1,140.4 |
|
Other Assets |
-595,373.5 |
-30,367.5 |
14,883.9 |
-87,502.2 |
-457,317.7 |
|
Other Liabilities |
586,215.2 |
-13,066.9 |
-46,480.8 |
83,235.1 |
472,294.3 |
|
Other Operating Cash Flow |
50.6 |
3,013.1 |
3,096.5 |
-6,602.0 |
-10,588.3 |
|
Investment Securities, Gains/Losses |
-1,027.1 |
-877.3 |
-594.7 |
-480.7 |
-390.2 |
|
Loans, Gains/Losses |
-9,950.7 |
15,488.6 |
16,178.5 |
-3,738.7 |
-5,050.4 |
|
Changes in Working Capital |
-18,258.9 |
-24,637.1 |
-12,406.6 |
-13,401.3 |
88.0 |
|
Cash from Operating Activities |
-9,213.1 |
-17,170.3 |
-8,690.8 |
-4,868.4 |
7,482.4 |
|
|
|
|
|
|
|
|
Purchase of Fixed Assets |
-701.1 |
-531.1 |
-261.1 |
-1,156.2 |
-714.7 |
|
Capital Expenditures |
-701.1 |
-531.1 |
-261.1 |
-1,156.2 |
-714.7 |
|
Acquisition of Business |
- |
- |
259.8 |
- |
- |
|
Sale of Fixed Assets |
80.1 |
50.5 |
12.3 |
143.0 |
80.1 |
|
Sale/Maturity of Investment |
40,353.7 |
29,481.8 |
12,722.4 |
19,975.4 |
14,549.6 |
|
Purchase of Investments |
-23,376.2 |
-17,645.4 |
-6,239.6 |
-18,848.4 |
-13,645.7 |
|
Other Investing Cash Flow |
-66.0 |
-128.9 |
-232.4 |
9,788.4 |
1,350.6 |
|
Other Investing Cash Flow Items, Total |
16,991.6 |
11,758.0 |
6,522.5 |
11,058.5 |
2,334.7 |
|
Cash from Investing Activities |
16,290.4 |
11,226.8 |
6,261.4 |
9,902.3 |
1,620.0 |
|
|
|
|
|
|
|
|
Other Financing Cash Flow |
-459.5 |
86.9 |
64.3 |
307.3 |
-346.9 |
|
Financing Cash Flow Items |
-459.5 |
86.9 |
64.3 |
307.3 |
-346.9 |
|
Cash Dividends Paid - Common |
-970.9 |
-968.4 |
- |
-615.8 |
-610.9 |
|
Total Cash Dividends Paid |
-970.9 |
-968.4 |
- |
-615.8 |
-610.9 |
|
Sale/Issuance of
Common |
13,825.9 |
10,671.9 |
5,725.5 |
31,227.2 |
13,449.9 |
|
Repurchase/Retirement
of Common |
-15,968.7 |
-12,039.7 |
-6,253.2 |
-20,350.2 |
-15,523.2 |
|
Common Stock, Net |
-2,142.7 |
-1,367.8 |
-527.7 |
10,877.0 |
-2,073.3 |
|
Issuance (Retirement) of Stock, Net |
-2,142.7 |
-1,367.8 |
-527.7 |
10,877.0 |
-2,073.3 |
|
Long Term Debt Issued |
74.5 |
8.4 |
5.5 |
1,776.0 |
1,646.3 |
|
Long Term Debt
Reduction |
-504.4 |
-235.4 |
-105.3 |
-303.3 |
-182.6 |
|
Long Term Debt, Net |
-430.0 |
-227.0 |
-99.8 |
1,472.7 |
1,463.6 |
|
Issuance (Retirement) of Debt, Net |
-430.0 |
-227.0 |
-99.8 |
1,472.7 |
1,463.6 |
|
Cash from Financing Activities |
-4,003.1 |
-2,476.3 |
-563.3 |
12,041.1 |
-1,567.4 |
|
|
|
|
|
|
|
|
Foreign Exchange Effects |
-1,707.2 |
-1,872.3 |
-1,159.3 |
2,530.9 |
2,464.8 |
|
Net Change in Cash |
1,367.1 |
-10,292.1 |
-4,152.0 |
19,605.9 |
9,999.7 |
|
|
|
|
|
|
|
|
Net Cash - Beginning Balance |
93,230.9 |
92,988.9 |
90,712.7 |
68,269.7 |
67,727.8 |
|
Net Cash - Ending Balance |
94,598.0 |
82,696.8 |
86,560.8 |
87,875.7 |
77,727.5 |
|
Cash Taxes Paid |
1,178.9 |
772.2 |
544.1 |
1,038.3 |
798.8 |
Annual Income Statement
As Reported
Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)
|
|
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
31-Dec-2007 |
31-Dec-2006 |
|
Period Length |
12 Months |
12 Months |
12 Months |
12 Months |
12 Months |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Reclassified
Normal |
Reclassified
Normal |
Restated Normal |
|
Filed Currency |
EUR |
EUR |
EUR |
EUR |
EUR |
|
Exchange Rate
(Period Average) |
0.755078 |
0.719047 |
0.683679 |
0.730637 |
0.796979 |
|
Auditor |
KPMG AG |
KPMG LLP |
KPMG LLP |
KPMG LLP |
KPMG LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Interest & Similar |
38,113.9 |
37,484.3 |
79,787.4 |
88,518.6 |
73,119.8 |
|
Total Revenue |
38,113.9 |
37,484.3 |
79,787.4 |
88,518.6 |
73,119.8 |
|
|
|
|
|
|
|
|
Interest Expense |
17,476.3 |
20,157.2 |
61,572.7 |
76,407.3 |
64,326.6 |
|
Loan Loss Prov. |
1,687.2 |
3,657.6 |
1,573.8 |
837.6 |
373.9 |
|
Total Operating Expense |
19,163.6 |
23,814.9 |
63,146.6 |
77,244.9 |
64,700.5 |
|
|
|
|
|
|
|
|
Fee/Commission |
14,129.7 |
12,392.8 |
14,247.9 |
16,810.0 |
14,046.8 |
|
Gains/Losses on Assets/Liabs. |
4,441.9 |
9,886.7 |
-14,615.0 |
9,820.2 |
11,157.1 |
|
Gains/Losses on Assets A-f-S |
266.2 |
-560.5 |
974.1 |
1,085.4 |
741.5 |
|
Equity Investments |
-2,654.0 |
82.1 |
67.3 |
483.1 |
525.7 |
|
Compensation, Benefits |
-16,781.0 |
-15,729.2 |
-14,050.4 |
-17,959.7 |
-15,681.7 |
|
Policyholder Benefits/Claims |
-642.3 |
-753.8 |
368.6 |
-264.2 |
-84.1 |
|
Sale of Subsidiaries |
23.8 |
84.8 |
124.3 |
- |
- |
|
Other Income |
988.0 |
-339.3 |
898.1 |
1,884.7 |
488.1 |
|
General and Administrative Expenses |
-13,419.8 |
-11,684.9 |
-12,197.2 |
-11,001.4 |
-8,869.7 |
|
Impairment of Intangibles |
-38.4 |
186.4 |
-855.7 |
-175.2 |
- |
|
Amort. of Intang. |
- |
- |
- |
- |
-38.9 |
|
Restructuring |
0.0 |
0.0 |
0.0 |
17.8 |
-240.9 |
|
Total Non-Interest Revenue |
17,171.7 |
21,461.7 |
1,572.4 |
30,083.3 |
26,959.3 |
|
|
|
|
|
|
|
|
Total Non-Interest Expense |
-30,857.7 |
-27,896.7 |
-26,610.4 |
-29,382.6 |
-24,915.3 |
|
|
|
|
|
|
|
|
Net Income Before Taxes |
5,264.4 |
7,234.6 |
-8,397.2 |
11,974.5 |
10,463.3 |
|
|
|
|
|
|
|
|
Provision for Income Taxes |
2,178.6 |
339.3 |
-2,698.6 |
3,064.4 |
2,835.7 |
|
Net Income After Taxes |
3,085.8 |
6,895.2 |
-5,698.6 |
8,910.0 |
7,627.6 |
|
|
|
|
|
|
|
|
Loss Minority Ints. |
-26.5 |
20.9 |
89.2 |
-49.3 |
-11.3 |
|
Net Income Before Extra. Items |
3,059.3 |
6,916.1 |
-5,609.4 |
8,860.8 |
7,616.3 |
|
Net Income |
3,059.3 |
6,916.1 |
-5,609.4 |
8,860.8 |
7,616.3 |
|
|
|
|
|
|
|
|
Income Available to Com Excl ExtraOrd |
3,059.3 |
6,916.1 |
-5,609.4 |
8,860.8 |
7,616.3 |
|
|
|
|
|
|
|
|
Income Available to Com Incl ExtraOrd |
3,059.3 |
6,916.1 |
-5,609.4 |
8,860.8 |
7,616.3 |
|
|
|
|
|
|
|
|
Basic Weighted Average Shares |
753.3 |
688.3 |
552.5 |
519.7 |
513.2 |
|
Basic EPS Excluding ExtraOrdinary Items |
4.06 |
10.05 |
-10.15 |
17.05 |
14.84 |
|
Basic EPS Including ExtraOrdinary Item |
4.06 |
10.05 |
-10.15 |
17.05 |
14.84 |
|
Dilution Adjustment |
4.0 |
2.8 |
-1.5 |
- |
- |
|
Diluted Net Income |
3,063.3 |
6,918.9 |
-5,610.8 |
8,860.8 |
7,616.3 |
|
Diluted Weighted Average Shares |
790.8 |
718.3 |
552.5 |
543.7 |
571.2 |
|
Diluted EPS Excluding ExtraOrd Items |
3.87 |
9.63 |
-10.16 |
16.30 |
13.33 |
|
Diluted EPS Including ExtraOrd Items |
3.87 |
9.63 |
-10.16 |
16.30 |
13.33 |
|
DPS-Ordinary Shares |
0.99 |
1.04 |
0.73 |
5.62 |
4.58 |
|
Gross Dividends - Common Stock |
923.1 |
648.1 |
452.0 |
3,112.4 |
2,515.7 |
|
Normalized Income Before Taxes |
7,933.0 |
6,881.3 |
-7,733.2 |
11,648.7 |
10,178.4 |
|
|
|
|
|
|
|
|
Inc Tax Ex Impact of Sp Items |
3,282.9 |
322.8 |
-2,466.2 |
2,981.1 |
2,758.5 |
|
Normalized Income After Taxes |
4,650.0 |
6,558.6 |
-5,266.9 |
8,667.6 |
7,419.9 |
|
|
|
|
|
|
|
|
Normalized Inc. Avail to Com. |
4,623.5 |
6,579.4 |
-5,177.7 |
8,618.4 |
7,408.6 |
|
|
|
|
|
|
|
|
Basic Normalized EPS |
6.14 |
9.56 |
-9.37 |
16.58 |
14.44 |
|
Diluted Normalized EPS |
5.85 |
9.16 |
-9.37 |
15.85 |
12.97 |
|
Amort of Intangibles |
347.0 |
242.0 |
280.8 |
154.7 |
111.7 |
|
Rental Expense |
2,205.1 |
2,026.3 |
2,097.5 |
1,843.6 |
1,503.2 |
|
Depreciation |
654.2 |
579.9 |
595.3 |
589.9 |
513.2 |
|
Current Tax |
1,761.4 |
751.0 |
-468.1 |
4,320.9 |
2,628.7 |
|
Current Tax - Total |
1,761.4 |
751.0 |
-468.1 |
4,320.9 |
2,628.7 |
|
Deferred Tax |
417.2 |
-411.7 |
-2,230.6 |
-1,256.4 |
207.0 |
|
Deferred Tax - Total |
417.2 |
-411.7 |
-2,230.6 |
-1,256.4 |
207.0 |
|
Income Tax - Total |
2,178.6 |
339.3 |
-2,698.6 |
3,064.4 |
2,835.7 |
|
Service Cost - Pension |
321.8 |
258.7 |
386.1 |
362.7 |
356.3 |
|
Interest Cost - Pension |
697.9 |
635.6 |
662.6 |
596.7 |
495.6 |
|
Expected Return on Assets - Pension |
-648.9 |
-560.5 |
-652.4 |
-595.4 |
-518.2 |
|
Amort. of Prior Service Cost - Pension |
-102.0 |
25.0 |
20.5 |
15.1 |
40.2 |
|
Actuarial Gain/Loss - Pension |
0.0 |
0.0 |
1.5 |
1.4 |
-2.5 |
|
Curtailments & Settlements - Pension |
-18.5 |
1.4 |
13.2 |
-15.1 |
-6.3 |
|
Asset Ceiling |
0.0 |
0.0 |
-2.9 |
2.7 |
0.0 |
|
Domestic Pension Plan Expense |
250.3 |
360.2 |
428.6 |
368.2 |
365.1 |
|
Service Cost - Post-Retirement |
4.0 |
4.2 |
2.9 |
4.1 |
6.3 |
|
Interest Cost - Post-Retirement |
11.9 |
9.7 |
10.2 |
10.9 |
12.5 |
|
Actuarial Gain/Loss - Post-Retirement |
0.0 |
0.0 |
2.9 |
4.1 |
0.0 |
|
Post-Retirement Plan Expense |
15.9 |
13.9 |
16.1 |
19.2 |
18.8 |
|
Defined Contribution Plans - Pension |
316.5 |
282.3 |
301.3 |
277.8 |
207.0 |
|
Total Pension Expense |
582.7 |
656.4 |
746.0 |
665.2 |
591.0 |
|
Discount Rate - Pension |
5.40% |
5.60% |
5.50% |
4.80% |
4.30% |
|
Discount Rate - Post-Retirement |
5.90% |
6.10% |
6.10% |
5.80% |
5.40% |
|
Compensation Rate - Pension |
3.40% |
3.00% |
3.30% |
3.20% |
3.30% |
|
Pension Payment Rate - Pension |
2.40% |
1.80% |
1.80% |
1.70% |
- |
|
Expected Rate of Return - Pension |
5.00% |
4.50% |
5.00% |
4.60% |
4.40% |
Interim Income Statement
As Reported
Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)
|
|
30-Sep-2011 |
30-Jun-2011 |
31-Mar-2011 |
31-Dec-2010 |
30-Sep-2010 |
|
Period Length |
3 Months |
3 Months |
3 Months |
3 Months |
3 Months |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
EUR |
EUR |
EUR |
EUR |
EUR |
|
Exchange Rate
(Period Average) |
0.707825 |
0.695476 |
0.731463 |
0.736368 |
0.774922 |
|
|
|
|
|
|
|
|
Interest-Lending & MM |
12,165.4 |
14,147.1 |
11,441.5 |
10,023.5 |
8,646.0 |
|
Total Revenue |
12,165.4 |
14,147.1 |
11,441.5 |
10,023.5 |
8,646.0 |
|
|
|
|
|
|
|
|
Loan Loss Provision |
654.1 |
667.2 |
509.9 |
552.7 |
467.1 |
|
Interest Expense |
6,127.2 |
7,688.3 |
5,744.7 |
3,882.6 |
4,239.1 |
|
Total Operating Expense |
6,781.3 |
8,355.4 |
6,254.6 |
4,435.3 |
4,706.3 |
|
|
|
|
|
|
|
|
Fee/Commission Inc. |
3,964.3 |
4,381.2 |
4,212.1 |
4,147.4 |
3,312.6 |
|
Gains/Losses on Assets/Liabs. |
-596.2 |
1,020.9 |
3,627.0 |
-228.1 |
1,074.9 |
|
Gains/Losses on Assets A-f-S |
-193.6 |
-20.1 |
567.4 |
21.7 |
215.5 |
|
Equity Investments |
80.5 |
97.8 |
-43.7 |
42.1 |
-2,968.0 |
|
Other Operating Income/Expenses |
1,041.2 |
340.8 |
259.8 |
-36.7 |
391.0 |
|
Staff Compenstation and Benefits |
-3,806.0 |
-4,838.4 |
-5,848.6 |
-4,177.3 |
-3,849.4 |
|
Policyholder Benefits and Claims |
152.6 |
-109.3 |
-88.9 |
-248.5 |
-206.5 |
|
General and Administrative Expenses |
-4,696.1 |
-4,108.0 |
-3,741.8 |
-4,150.1 |
-3,262.3 |
|
Impairment of Intangibles |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Restructuring |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Total Non-Interest Revenue |
3,255.0 |
5,479.7 |
8,362.7 |
3,983.1 |
1,635.0 |
|
|
|
|
|
|
|
|
Total Non-Interest Expense |
-7,308.3 |
-8,714.9 |
-9,419.5 |
-8,612.5 |
-6,927.1 |
|
|
|
|
|
|
|
|
Net Income Before Taxes |
1,330.8 |
2,556.5 |
4,130.1 |
958.8 |
-1,352.4 |
|
|
|
|
|
|
|
|
Provision for Income Taxes |
233.1 |
783.6 |
1,218.1 |
137.2 |
219.4 |
|
Net Income After Taxes |
1,097.7 |
1,772.9 |
2,912.0 |
821.6 |
-1,571.8 |
|
|
|
|
|
|
|
|
Minority Interests |
-73.5 |
-50.3 |
-93.0 |
-5.4 |
6.5 |
|
Net Income Before Extra. Items |
1,024.3 |
1,722.6 |
2,819.0 |
816.2 |
-1,565.3 |
|
Net Income |
1,024.3 |
1,722.6 |
2,819.0 |
816.2 |
-1,565.3 |
|
|
|
|
|
|
|
|
Income Available to Com Excl ExtraOrd |
1,024.3 |
1,722.6 |
2,819.0 |
816.2 |
-1,565.3 |
|
|
|
|
|
|
|
|
Income Available to Com Incl ExtraOrd |
1,024.3 |
1,722.6 |
2,819.0 |
816.2 |
-1,565.3 |
|
|
|
|
|
|
|
|
Basic Weighted Average Shares |
921.4 |
936.9 |
937.3 |
920.9 |
695.3 |
|
Basic EPS Excluding ExtraOrdinary Items |
1.11 |
1.84 |
3.01 |
0.89 |
-2.25 |
|
Basic EPS Including ExtraOrdinary Item |
1.11 |
1.84 |
3.01 |
0.89 |
-2.25 |
|
Dilution Adjustment |
- |
- |
- |
4.1 |
0.0 |
|
Diluted Net Income |
1,024.3 |
1,722.6 |
2,819.0 |
820.2 |
-1,565.3 |
|
Diluted Weighted Average Shares |
951.0 |
967.7 |
968.8 |
1,012.7 |
695.3 |
|
Diluted EPS Excluding ExtraOrd Items |
1.08 |
1.78 |
2.91 |
0.81 |
-2.25 |
|
Diluted EPS Including ExtraOrd Items |
1.08 |
1.78 |
2.91 |
0.81 |
-2.25 |
|
DPS-Ordinary Shares |
0.00 |
0.00 |
0.00 |
1.02 |
0.00 |
|
Gross Dividends - Common Stock |
0.0 |
0.0 |
0.0 |
946.5 |
0.0 |
|
Normalized Income Before Taxes |
1,250.3 |
2,458.7 |
4,173.8 |
916.7 |
1,615.6 |
|
|
|
|
|
|
|
|
Inc Tax Ex Impact of Sp Items |
219.0 |
753.7 |
1,231.0 |
131.1 |
1,258.2 |
|
Normalized Income After Taxes |
1,031.3 |
1,705.1 |
2,942.8 |
785.5 |
357.5 |
|
|
|
|
|
|
|
|
Normalized Inc. Avail to Com. |
957.8 |
1,654.8 |
2,849.9 |
780.1 |
363.9 |
|
|
|
|
|
|
|
|
Basic Normalized EPS |
1.04 |
1.77 |
3.04 |
0.85 |
0.52 |
|
Diluted Normalized EPS |
1.01 |
1.71 |
2.94 |
0.77 |
0.52 |
|
Rental Expenses |
673.9 |
665.7 |
659.0 |
649.1 |
566.5 |
|
Depreciation |
1,114.7 |
2,026.0 |
60.2 |
950.6 |
3,334.5 |
|
Current Service Cost |
80.5 |
94.9 |
91.6 |
88.3 |
76.1 |
|
Interest Cost |
213.3 |
215.7 |
205.1 |
179.3 |
174.2 |
|
Expected Return on Plan Assets |
-187.9 |
-189.8 |
-181.8 |
-163.0 |
-163.9 |
|
Past Service Cost |
5.7 |
4.3 |
6.8 |
-123.6 |
1.3 |
|
Actuarial Gains Losses |
- |
- |
- |
0.0 |
- |
|
Curtailments & Settlements - Pension |
- |
- |
- |
-19.0 |
- |
|
Asset Ceiling |
- |
- |
- |
0.0 |
- |
|
Domestic Pension Plan Expense |
111.6 |
125.1 |
121.7 |
-38.0 |
87.8 |
|
Current Sevice Cost |
0.0 |
1.4 |
1.4 |
1.4 |
0.0 |
|
Interest Cost |
2.8 |
2.9 |
2.7 |
4.1 |
2.6 |
|
Actuarial Gains/Losses |
-18.4 |
- |
- |
0.0 |
- |
|
Post-Retirement Plan Expense |
-15.5 |
4.3 |
4.1 |
5.4 |
2.6 |
|
Defined Contribution Plans |
134.2 |
112.2 |
144.9 |
85.6 |
68.4 |
|
Total Pension Expense |
230.3 |
241.6 |
270.7 |
53.0 |
158.7 |
Annual Balance Sheet
As Reported
Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)
|
|
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
31-Dec-2007 |
31-Dec-2006 |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Reclassified
Normal |
Restated Normal |
Restated Normal |
|
Filed Currency |
EUR |
EUR |
EUR |
EUR |
EUR |
|
Exchange Rate |
0.745406 |
0.696986 |
0.719399 |
0.683971 |
0.758351 |
|
Auditor |
KPMG AG |
KPMG LLP |
KPMG LLP |
KPMG LLP |
KPMG LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Cash |
23,017.0 |
13,409.2 |
13,658.6 |
12,620.4 |
9,241.1 |
|
Deposit |
123,928.4 |
67,767.5 |
89,990.4 |
31,602.2 |
25,316.8 |
|
Centr. Bank Fund |
27,320.7 |
9,785.0 |
12,881.6 |
19,879.5 |
18,810.5 |
|
Secs. Borrowed |
38,792.3 |
62,424.5 |
48,682.3 |
81,817.8 |
82,999.8 |
|
Financial Assets at Fair Value |
- |
- |
- |
2,014,721.0 |
1,456,646.7 |
|
Trading Assets |
363,950.4 |
337,037.1 |
343,984.6 |
- |
- |
|
Positive Market Values from Derivatives |
882,444.8 |
855,699.2 |
1,702,106.5 |
- |
- |
|
Financial Assets Designated at Fair Val. |
230,647.3 |
192,256.5 |
211,087.4 |
- |
- |
|
Financial Assets Available for Sale |
72,800.6 |
27,000.6 |
34,521.9 |
61,835.9 |
50,157.5 |
|
Equity Method Investments |
3,498.8 |
11,173.8 |
3,116.5 |
4,921.3 |
3,350.7 |
|
Loans |
551,410.6 |
375,112.5 |
377,008.0 |
293,282.8 |
237,612.8 |
|
Loan Loss Prov. |
-4,421.7 |
-4,796.4 |
-2,693.9 |
-2,492.8 |
-2,202.1 |
|
Building |
6,232.8 |
2,107.6 |
2,039.2 |
2,254.5 |
3,486.5 |
|
Leasehold |
2,432.2 |
2,284.1 |
2,103.1 |
2,111.2 |
1,765.7 |
|
Furniture/Equip. |
4,857.8 |
3,932.6 |
3,475.1 |
3,358.3 |
3,093.6 |
|
Constr. in Prog. |
399.8 |
668.6 |
1,830.7 |
181.3 |
146.4 |
|
Depreciation |
-6,138.9 |
-5,008.7 |
-4,288.3 |
-4,383.2 |
-4,218.4 |
|
Goodwill |
14,437.8 |
10,645.8 |
10,471.2 |
- |
- |
|
Other Intangible Assets |
- |
3,944.1 |
3,258.3 |
- |
- |
|
Other Intangible Assets |
8,494.7 |
- |
- |
- |
- |
|
Amortization of Intangibles |
-2,011.0 |
- |
- |
- |
- |
|
Goodwill & Intangibles |
- |
- |
- |
13,718.4 |
11,356.2 |
|
Other Asset |
200,198.2 |
174,376.6 |
191,589.2 |
268,487.9 |
183,320.0 |
|
Income Tax |
3,017.1 |
2,998.6 |
4,881.9 |
3,549.9 |
2,795.5 |
|
Deferred Tax Assets |
11,189.9 |
10,258.5 |
11,773.7 |
6,984.2 |
5,712.4 |
|
Total Assets |
2,556,499.3 |
2,153,077.7 |
3,061,478.1 |
2,814,450.6 |
2,089,391.7 |
|
|
|
|
|
|
|
|
Deposits |
716,366.2 |
493,869.6 |
549,838.4 |
669,539.9 |
543,173.0 |
|
Central Bank Funds |
37,458.8 |
65,274.0 |
121,097.0 |
261,328.3 |
134,766.0 |
|
Secs. Loaned |
4,394.9 |
7,982.9 |
4,470.4 |
13,984.5 |
27,921.1 |
|
Fin. Liabs at Fair Value |
- |
- |
- |
1,272,107.8 |
915,959.3 |
|
Trading Liabilities |
92,377.8 |
92,542.8 |
94,756.9 |
- |
- |
|
Negative Market Values from Derivatives |
868,212.3 |
827,812.0 |
1,642,506.7 |
- |
- |
|
Fin. Liab. Designated at Fair Value |
174,608.1 |
105,485.7 |
108,428.1 |
- |
- |
|
Investment Contract Liabilities |
10,595.6 |
10,442.1 |
8,308.3 |
- |
- |
|
Other ST Borrowings |
87,187.3 |
61,546.5 |
54,371.8 |
78,088.1 |
63,866.2 |
|
Other Liabs. |
243,930.0 |
221,354.7 |
223,239.2 |
250,659.7 |
190,055.7 |
|
Income Tax |
3,670.5 |
3,071.8 |
3,272.2 |
6,171.3 |
5,318.1 |
|
LT Debt |
227,607.4 |
189,074.2 |
186,066.5 |
185,246.1 |
146,848.8 |
|
Total Long Term Debt |
227,607.4 |
189,074.2 |
186,066.5 |
185,246.1 |
146,848.8 |
|
|
|
|
|
|
|
|
Provisions |
2,956.8 |
1,875.2 |
1,971.1 |
1,893.4 |
2,331.4 |
|
Deferred Tax |
3,095.0 |
3,094.8 |
5,259.9 |
3,479.7 |
3,013.1 |
|
Trust Secs. |
16,434.0 |
15,175.4 |
13,523.8 |
9,276.7 |
6,291.3 |
|
Minor. Interest |
2,078.1 |
1,896.7 |
1,683.4 |
2,079.0 |
945.5 |
|
Purchase Common Shares Obligation |
0.0 |
0.0 |
5.6 |
5,194.7 |
5,705.8 |
|
Total Liabilities |
2,490,972.6 |
2,100,498.4 |
3,018,799.4 |
2,759,049.2 |
2,046,195.4 |
|
|
|
|
|
|
|
|
Subscribed Cap. |
3,192.9 |
2,279.8 |
2,030.9 |
1,985.5 |
1,770.9 |
|
Capital Reserve |
31,546.5 |
21,277.3 |
20,796.5 |
23,112.1 |
20,104.1 |
|
Purc. Obligation |
0.0 |
0.0 |
-4.2 |
-5,193.2 |
-5,679.4 |
|
Retained Earning |
34,879.0 |
34,514.3 |
27,903.9 |
38,087.9 |
26,967.7 |
|
Treasury Stock |
-603.7 |
-68.9 |
-1,305.3 |
-4,121.5 |
-3,135.7 |
|
Financial Assets A-f-S |
- |
- |
- |
5,314.6 |
4,230.2 |
|
Unrealized Loss |
-3,489.4 |
-5,423.4 |
-6,743.1 |
-76.0 |
-59.3 |
|
Foreign Exchange |
- |
- |
- |
-3,707.8 |
-1,002.2 |
|
Total Equity |
65,525.3 |
52,579.3 |
42,678.7 |
55,401.5 |
43,196.3 |
|
|
|
|
|
|
|
|
Total Liabilities & Shareholders' Equity |
2,556,497.9 |
2,153,077.7 |
3,061,478.1 |
2,814,450.6 |
2,089,391.7 |
|
|
|
|
|
|
|
|
S/O-Ordinary Shares |
919.1 |
679.7 |
616.6 |
549.1 |
546.5 |
|
Total Common Shares Outstanding |
919.1 |
679.7 |
616.6 |
549.1 |
546.5 |
|
T/S-Ordinary Shares |
10.4 |
0.7 |
9.0 |
32.1 |
28.6 |
|
Amortization of Goodwill |
- |
- |
- |
- |
273.0 |
|
Amortization of Intangibles |
2,011.0 |
1,675.8 |
1,836.3 |
1,241.3 |
961.3 |
|
Risk-Weighted Assets |
464.4 |
392.4 |
427.8 |
481.0 |
363.2 |
|
Core Capital Ratio |
12.30% |
12.60% |
10.10% |
8.60% |
8.50% |
|
Total Capital Ratio |
14.10% |
13.90% |
12.20% |
11.60% |
12.50% |
|
Full-Time Employees |
102,062 |
77,053 |
80,456 |
78,291 |
68,849 |
|
Number of Common Shareholders |
640,623 |
586,295 |
581,938 |
360,785 |
348,196 |
|
LT Debt Due Within 1 Year |
- |
27,109.6 |
- |
- |
- |
|
LT Debt Due Within 2 Years |
- |
28,419.5 |
- |
- |
- |
|
LT Debt Due Within 3 Years |
- |
25,525.6 |
- |
- |
- |
|
LT Debt Due Within 4 Years |
- |
20,251.5 |
- |
- |
- |
|
LT Debt Due Within 5 Years |
- |
21,785.2 |
- |
- |
- |
|
LT Debt Due After 5 Years |
- |
65,982.7 |
- |
- |
- |
|
Total Long Term Debt, Supplemental |
- |
189,074.2 |
- |
- |
- |
|
Capital Leases Due Within 1 Year |
22.8 |
35.9 |
44.5 |
290.9 |
162.2 |
|
Capital Leases Due Within 1-5 Years |
87.2 |
152.1 |
164.0 |
271.9 |
472.1 |
|
Capital Leases Due After 5 Years |
97.9 |
206.6 |
280.8 |
507.3 |
563.1 |
|
Interest |
-148.9 |
-155.0 |
-222.4 |
-412.3 |
-425.9 |
|
Total Capital Leases |
59.0 |
239.6 |
266.9 |
657.9 |
771.4 |
|
Operating Leases Due Within 1 Year |
1,114.8 |
1,044.5 |
1,063.4 |
934.2 |
743.7 |
|
Operating Leases Due 1-5 Years |
3,107.0 |
2,935.5 |
3,040.0 |
2,615.6 |
2,094.0 |
|
Operating Leases Due After 5 Years |
2,782.4 |
3,374.5 |
3,888.0 |
2,653.6 |
1,466.3 |
|
Total Operating Leases |
7,004.2 |
7,354.5 |
7,991.4 |
6,203.5 |
4,304.1 |
|
Projected Benefit Obligation - Pension |
16,193.9 |
13,509.6 |
11,383.1 |
12,453.7 |
12,038.0 |
|
Projected Benefit Obligation - Post-Ret. |
206.6 |
195.1 |
165.4 |
169.6 |
193.8 |
|
FV of Plan Assets - Pension |
14,859.0 |
13,417.8 |
12,169.9 |
13,642.4 |
12,457.3 |
|
Funded Status - Pension |
-1,334.8 |
-91.8 |
786.8 |
1,188.6 |
419.3 |
|
Funded Status - Post-Retirement |
-206.6 |
-195.1 |
-165.4 |
-169.6 |
-193.8 |
|
Total Funded Status |
-1,541.4 |
-287.0 |
621.4 |
1,019.0 |
225.5 |
|
Discount Rate - Pension |
5.10% |
5.40% |
5.60% |
5.50% |
4.80% |
|
Discount Rate - Post-Retirement |
5.30% |
5.90% |
6.10% |
6.10% |
5.80% |
|
Compensation Rate - Pension |
3.30% |
3.40% |
3.00% |
3.30% |
3.20% |
|
Pension Payment Rate - Pension |
2.40% |
2.40% |
1.80% |
1.80% |
- |
|
Equity Securities % - Pension |
9.00% |
8.00% |
7.00% |
8.00% |
10.00% |
|
Debt Securities % - Pension |
88.00% |
90.00% |
90.00% |
87.00% |
87.00% |
|
Alternate Inv.(Real Estate) % - Pension |
3.00% |
2.00% |
3.00% |
5.00% |
3.00% |
Interim Balance Sheet
As Reported
Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)
|
|
30-Sep-2011 |
30-Jun-2011 |
31-Mar-2011 |
31-Dec-2010 |
30-Sep-2010 |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Reclassified
Normal |
Updated Normal |
|
Filed Currency |
EUR |
EUR |
EUR |
EUR |
EUR |
|
Exchange Rate |
0.745323 |
0.689727 |
0.704672 |
0.745406 |
0.732493 |
|
|
|
|
|
|
|
|
Cash |
31,807.7 |
30,071.3 |
20,347.1 |
23,017.0 |
16,367.4 |
|
Net Loan |
553,377.5 |
572,296.4 |
559,600.8 |
546,988.8 |
382,018.5 |
|
Deposit |
157,232.5 |
133,490.6 |
119,577.6 |
123,928.4 |
96,732.6 |
|
Central Bank Fund |
39,710.3 |
29,953.9 |
35,446.3 |
27,320.7 |
30,848.1 |
|
Securities Borrowed |
55,985.1 |
44,572.7 |
50,231.9 |
38,792.3 |
61,177.3 |
|
Trading Assets |
358,527.7 |
419,909.9 |
405,324.8 |
363,950.4 |
374,829.3 |
|
Derivatives |
1,199,434.2 |
804,605.9 |
800,517.1 |
882,444.8 |
1,119,231.9 |
|
Financial Assets at Fair Value |
255,850.1 |
262,077.8 |
248,261.6 |
230,647.3 |
221,656.6 |
|
Financial Assets Available for Sale |
61,704.8 |
70,303.2 |
68,732.7 |
72,800.6 |
34,885.0 |
|
Investments - Equity |
5,479.5 |
5,798.0 |
4,920.0 |
3,498.8 |
7,578.2 |
|
Prop./Equip., Net |
7,254.6 |
7,588.5 |
7,166.5 |
7,783.7 |
4,472.4 |
|
Intangible |
20,745.4 |
21,578.1 |
21,424.2 |
20,920.1 |
15,975.6 |
|
Other Assets |
302,246.1 |
266,595.5 |
259,231.3 |
200,198.2 |
294,211.5 |
|
Income Tax Assets |
13,046.7 |
12,938.5 |
13,548.1 |
14,207.0 |
12,733.2 |
|
Total Assets |
3,062,402.1 |
2,681,780.3 |
2,614,329.9 |
2,556,497.9 |
2,672,717.6 |
|
|
|
|
|
|
|
|
Deposits |
789,210.7 |
796,218.5 |
756,526.5 |
716,366.2 |
544,224.7 |
|
Central Bank Funds |
54,540.1 |
69,602.9 |
47,241.8 |
37,458.8 |
59,813.5 |
|
Trading Liabilities |
123,694.0 |
100,603.6 |
109,405.5 |
92,377.8 |
100,732.6 |
|
Securities Loaned |
12,983.6 |
10,798.5 |
6,174.5 |
4,394.9 |
8,817.8 |
|
Derivatives |
1,181,847.2 |
786,155.1 |
781,870.2 |
868,244.5 |
1,092,895.8 |
|
Financial Liabilities at Fair Value |
164,283.1 |
166,437.0 |
183,746.5 |
174,608.1 |
184,203.7 |
|
Investment Contract Liabilities |
8,688.8 |
10,539.0 |
10,711.4 |
10,595.6 |
10,252.7 |
|
Other ST Borrowings |
83,734.2 |
94,527.3 |
86,170.6 |
87,187.3 |
74,500.3 |
|
Other Liab. |
332,522.9 |
313,386.5 |
303,453.2 |
243,930.0 |
324,401.6 |
|
Provisions |
3,059.1 |
3,040.3 |
2,998.6 |
2,956.8 |
2,112.0 |
|
Income Tax Liabilities |
6,746.1 |
6,856.3 |
6,974.9 |
6,765.4 |
5,620.5 |
|
Long-Term Debt |
213,582.5 |
231,781.7 |
229,193.2 |
227,607.4 |
196,437.3 |
|
Total Long Term Debt |
213,582.5 |
231,781.7 |
229,193.2 |
227,607.4 |
196,437.3 |
|
|
|
|
|
|
|
|
Trust Secs. |
16,254.7 |
16,908.2 |
16,651.7 |
16,434.0 |
14,726.4 |
|
Purc. Obligations |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Minority Interest |
1,642.2 |
2,353.1 |
2,283.3 |
2,078.1 |
1,407.5 |
|
Total Liabilities |
2,992,789.3 |
2,609,208.1 |
2,543,401.8 |
2,491,004.8 |
2,620,146.4 |
|
|
|
|
|
|
|
|
Subscribed Capital |
3,193.2 |
3,450.6 |
3,377.5 |
3,192.9 |
2,169.3 |
|
Capital Reserve |
31,700.3 |
34,367.2 |
33,286.4 |
31,546.5 |
20,016.6 |
|
Retained Earnings |
39,739.8 |
41,465.7 |
39,764.6 |
34,846.8 |
34,571.0 |
|
Treasury Stock |
-1,390.0 |
-1,126.5 |
-300.8 |
-603.7 |
-285.3 |
|
Unrealised Loss |
-3,630.6 |
-5,584.8 |
-5,199.6 |
-3,489.4 |
-3,900.4 |
|
Purch. Obligations |
0.0 |
0.0 |
- |
0.0 |
0.0 |
|
Total Equity |
69,612.8 |
72,572.2 |
70,928.0 |
65,493.1 |
52,571.1 |
|
|
|
|
|
|
|
|
Total Liabilities & Shareholders' Equity |
3,062,402.1 |
2,681,780.3 |
2,614,329.9 |
2,556,497.9 |
2,672,717.6 |
|
|
|
|
|
|
|
|
S/O-Ordinary Shares |
899.1 |
910.9 |
925.3 |
919.1 |
616.9 |
|
Total Common Shares Outstanding |
899.1 |
910.9 |
925.3 |
919.1 |
616.9 |
|
T/S-Ordinary Shares |
30.4 |
18.6 |
4.2 |
10.4 |
4.0 |
|
Risk-Weighted Assets |
453.0 |
463.5 |
465.3 |
464.4 |
378.2 |
|
Core Capital Ratio |
13.80% |
14.00% |
13.40% |
12.30% |
11.50% |
|
Total Capital Ratio |
15.30% |
15.60% |
14.90% |
14.10% |
12.20% |
|
Full-Time Employees |
102,073 |
101,694 |
101,877 |
102,062 |
82,504 |
Annual Cash Flows
As Reported
Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)
|
|
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
31-Dec-2007 |
31-Dec-2006 |
|
Period Length |
12 Months |
12 Months |
12 Months |
12 Months |
12 Months |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
Restated Normal |
|
Filed Currency |
EUR |
EUR |
EUR |
EUR |
EUR |
|
Exchange Rate
(Period Average) |
0.755078 |
0.719047 |
0.683679 |
0.730637 |
0.796979 |
|
Auditor |
KPMG AG |
KPMG LLP |
KPMG LLP |
KPMG LLP |
KPMG LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Net Income |
3,085.8 |
6,895.2 |
-5,698.6 |
8,910.0 |
7,627.6 |
|
Depreciation |
5,635.2 |
2,478.3 |
4,456.8 |
2,369.2 |
1,700.2 |
|
Loan Loss Provision |
1,687.2 |
3,657.6 |
1,585.5 |
891.0 |
441.7 |
|
Restructuring |
0.0 |
0.0 |
0.0 |
-17.8 |
37.6 |
|
Sale of Inv./Prop. |
-480.7 |
-912.3 |
-2,533.4 |
-2,610.0 |
-1,145.6 |
|
Deferred Tax |
417.2 |
-411.7 |
-2,230.6 |
-1,256.4 |
207.0 |
|
Equity in Loss |
-605.2 |
-262.8 |
-77.5 |
-490.0 |
-259.7 |
|
Interest-Earned Time Deposits with Banks |
-46,095.9 |
6,373.7 |
-5,798.0 |
10,385.5 |
-4,163.2 |
|
Central Bank Funds/Securities |
34,920.9 |
-5,845.2 |
35,635.1 |
7,043.2 |
-14,296.5 |
|
Trading Assets |
-36,071.8 |
1,009,999.6 |
-690,679.2 |
-414,613.3 |
-109,675.4 |
|
Other Financial Assets |
-32,449.6 |
34,615.3 |
247,810.7 |
-103,710.8 |
-23,920.3 |
|
Loans |
-3,738.7 |
23,938.6 |
-55,553.8 |
-30,363.9 |
-18,072.0 |
|
Trading Liab. |
12,646.4 |
-954,338.4 |
958,370.5 |
281,691.0 |
31,673.3 |
|
Other Asset |
-7,805.8 |
30,540.4 |
56,419.7 |
-58,406.5 |
-37,746.3 |
|
Depositis |
30,004.8 |
-79,730.6 |
-83,252.5 |
64,962.5 |
44,819.2 |
|
Other Financial Liabs. at Fair Value |
70,787.4 |
-9,819.9 |
-233,461.8 |
96,124.3 |
52,094.2 |
|
Securities Loaned |
-53,913.6 |
-56,524.8 |
-141,892.6 |
94,536.6 |
23,783.6 |
|
Other ST Borrowings |
24,512.7 |
3,604.8 |
-20,793.4 |
8,938.8 |
9,350.3 |
|
Liabilities |
3,775.8 |
-21,758.0 |
-22,645.1 |
28,924.1 |
37,741.3 |
|
Senior LT Debt |
-4,578.3 |
-9,943.7 |
18,676.9 |
31,390.4 |
13,149.7 |
|
Other, Net |
-6,602.0 |
-1,728.7 |
-4,048.7 |
-1,717.7 |
661.2 |
|
Cash from Operating Activities |
-4,868.4 |
-19,172.6 |
54,290.1 |
22,979.9 |
14,007.9 |
|
|
|
|
|
|
|
|
Sale of Secs. |
14,107.1 |
12,548.6 |
28,424.1 |
17,067.3 |
14,996.6 |
|
Mat. Secs. |
5,537.2 |
12,430.3 |
27,371.0 |
11,194.3 |
7,961.3 |
|
Sale of Investments |
331.1 |
798.3 |
994.6 |
1,821.7 |
4,889.7 |
|
Sale of Prop./Equip. |
143.0 |
54.2 |
156.5 |
1,350.9 |
154.3 |
|
Purchase Secs. |
-18,656.3 |
-16,802.8 |
-55,316.9 |
-34,531.5 |
-28,491.3 |
|
Paym. of Investments |
-192.0 |
-5,187.4 |
-1,288.6 |
-1,731.4 |
-2,092.9 |
|
Capital Expenditures |
-1,156.2 |
-823.3 |
-1,373.5 |
-923.9 |
-760.4 |
|
Combine/Divestiture |
11,363.1 |
-27.8 |
-35.1 |
-886.9 |
-1,405.3 |
|
Other, Net |
-1,574.7 |
-2,432.4 |
-57.0 |
633.7 |
394.0 |
|
Cash from Investing Activities |
9,902.3 |
557.7 |
-1,124.8 |
-6,005.7 |
-4,353.9 |
|
|
|
|
|
|
|
|
LT Debt |
1,776.0 |
635.6 |
765.0 |
587.2 |
1,224.6 |
|
Pay LT Debt |
-303.3 |
-2,013.8 |
-963.9 |
-3,844.6 |
-2,479.4 |
|
Issuance of Trust Preferred Securities |
119.2 |
1,812.1 |
4,978.9 |
2,564.9 |
1,308.7 |
|
Repayment of Trust Preferred Securities |
-67.5 |
0.0 |
0.0 |
-574.8 |
-489.3 |
|
Issuance of Shares |
13,323.1 |
0.0 |
3,217.9 |
532.4 |
853.2 |
|
Common Shares Issued/Share Based Compens |
0.0 |
0.0 |
27.8 |
0.0 |
0.0 |
|
Treasury Stock |
-20,350.2 |
-26,754.9 |
-31,792.7 |
-56,290.6 |
-48,721.5 |
|
Sale Treasury |
17,904.1 |
25,187.5 |
31,339.3 |
54,375.8 |
45,647.4 |
|
Increase in Minority Interests |
264.9 |
151.6 |
484.1 |
800.7 |
163.1 |
|
Dividends Paid to Minority Interests |
-9.3 |
-7.0 |
-20.5 |
-17.8 |
-32.6 |
|
Dividends Paid |
-615.8 |
-429.7 |
-3,326.1 |
-2,744.2 |
-1,554.6 |
|
Cash from Financing Activities |
12,041.1 |
-1,418.5 |
4,709.8 |
-4,611.0 |
-4,080.4 |
|
|
|
|
|
|
|
|
Foreign Exchange Effects |
2,530.9 |
959.6 |
-588.0 |
-395.5 |
-639.9 |
|
Net Change in Cash |
19,605.9 |
-19,073.9 |
57,287.1 |
11,967.6 |
4,933.6 |
|
|
|
|
|
|
|
|
Net Cash - Beginning Balance |
68,269.7 |
90,764.6 |
38,172.9 |
23,751.9 |
16,841.1 |
|
Net Cash - Ending Balance |
87,875.7 |
71,690.7 |
95,460.0 |
35,719.5 |
21,774.7 |
|
Cash Taxes Paid |
1,038.3 |
-723.2 |
-3,649.4 |
3,840.5 |
- |
Interim Cash Flows
As Reported
|
Financials in:
USD (mil) Except for share
items (millions) and per share items (actual units) |
|
|
30-Sep-2011 |
30-Jun-2011 |
31-Mar-2011 |
31-Dec-2010 |
30-Sep-2010 |
|
Period Length |
9 Months |
6 Months |
3 Months |
12 Months |
9 Months |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
EUR |
EUR |
EUR |
EUR |
EUR |
|
Exchange Rate
(Period Average) |
0.711706 |
0.713558 |
0.731463 |
0.755078 |
0.761121 |
|
|
|
|
|
|
|
|
Net Income |
5,817.0 |
4,713.0 |
2,912.0 |
3,085.8 |
2,265.1 |
|
Depreciation |
3,150.2 |
2,036.3 |
60.2 |
5,635.2 |
4,670.7 |
|
Provision for Loan Losses |
1,826.6 |
1,173.0 |
509.9 |
1,687.2 |
1,140.4 |
|
Restructuring Activities |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Gains/Losses on Sale of Fin. Assets |
-1,027.1 |
-877.3 |
-594.7 |
-480.7 |
-390.2 |
|
Deferred Taxes |
276.8 |
801.6 |
709.5 |
417.2 |
915.8 |
|
Share of Net Income from Investments |
-198.1 |
-84.1 |
34.2 |
-605.2 |
-457.2 |
|
Interest-Earned Time Deposits with Banks |
-43,879.1 |
-16,092.6 |
9,624.5 |
-46,095.9 |
-21,054.5 |
|
Central Bank Funds/Securities |
-31,754.7 |
-3,702.6 |
-16,554.5 |
34,920.9 |
-17,223.3 |
|
Trading Assets |
-370,335.4 |
73,298.9 |
83,739.0 |
-36,071.8 |
-286,030.8 |
|
Other Financial Assets |
-32,207.1 |
-18,559.1 |
-7,914.3 |
-32,449.6 |
-29,301.5 |
|
Loans |
-9,950.7 |
15,488.6 |
16,178.5 |
-3,738.7 |
-5,050.4 |
|
Other Assets |
-117,197.2 |
-65,312.1 |
-54,010.9 |
-7,805.8 |
-103,707.6 |
|
Deposits |
75,238.9 |
20,629.0 |
4,361.1 |
30,004.8 |
27,761.7 |
|
Trading Liabilities |
397,666.9 |
-109,049.3 |
-99,471.9 |
12,646.4 |
256,270.8 |
|
Other Financial Liabilities |
-5,980.0 |
-15,377.9 |
2,687.8 |
70,787.4 |
75,600.4 |
|
Securities Loaned |
27,733.4 |
34,875.9 |
9,686.1 |
-53,913.6 |
-7,818.7 |
|
Other S/T Borrowings |
-1,391.0 |
2,549.2 |
-4,526.5 |
24,512.7 |
12,873.1 |
|
Other Liabilities |
107,861.9 |
67,344.2 |
52,058.7 |
3,775.8 |
96,767.8 |
|
Senior L/T Debt |
-14,914.9 |
-14,038.1 |
-11,276.0 |
-4,578.3 |
10,839.3 |
|
Other, Net |
50.6 |
3,013.1 |
3,096.5 |
-6,602.0 |
-10,588.3 |
|
Cash from Operating Activities |
-9,213.1 |
-17,170.3 |
-8,690.8 |
-4,868.4 |
7,482.4 |
|
|
|
|
|
|
|
|
Sale of Financial Assets A-f-S |
26,991.5 |
20,253.4 |
8,603.3 |
14,107.1 |
9,831.6 |
|
Maturities of Financial Assets A-f-S |
12,654.1 |
9,056.0 |
4,083.6 |
5,537.2 |
4,411.9 |
|
Sale of Equity Method Investments |
708.2 |
172.4 |
35.5 |
331.1 |
306.1 |
|
Sale of Premises & Equipment |
80.1 |
50.5 |
12.3 |
143.0 |
80.1 |
|
Purchase of Financial Assets A-f-S |
-22,328.0 |
-16,730.2 |
-6,238.2 |
-18,656.3 |
-13,348.7 |
|
Purchase of Equity Method Investments |
-1,048.2 |
-915.1 |
-1.4 |
-192.0 |
-296.9 |
|
Purchase/Sale of Businesses |
- |
- |
259.8 |
- |
- |
|
Purchase of Premises & Equipment |
-701.1 |
-531.1 |
-261.1 |
-1,156.2 |
-714.7 |
|
Net Cash for Combinations/Divestitures |
460.9 |
316.7 |
- |
11,363.1 |
2,284.8 |
|
Other, Net |
-526.9 |
-445.7 |
-232.4 |
-1,574.7 |
-934.1 |
|
Cash from Investing Activities |
16,290.4 |
11,226.8 |
6,261.4 |
9,902.3 |
1,620.0 |
|
|
|
|
|
|
|
|
Issuance of Subordinated L/T Debt |
74.5 |
8.4 |
5.5 |
1,776.0 |
1,646.3 |
|
Repayments of Subordinated L/T Debt |
-504.4 |
-235.4 |
-105.3 |
-303.3 |
-182.6 |
|
Issuance of Trust Preferred Securities |
52.0 |
40.6 |
39.6 |
119.2 |
115.6 |
|
Repayments of Trust Preferred Securities |
-60.4 |
-102.3 |
-91.6 |
-67.5 |
-52.6 |
|
Common Shares Issued |
- |
- |
- |
0.0 |
- |
|
Capital Increase |
- |
- |
- |
13,323.1 |
- |
|
Purchase of Treasury Shares |
-15,968.7 |
-12,039.7 |
-6,253.2 |
-20,350.2 |
-15,523.2 |
|
Sale of Treasury Shares |
13,825.9 |
10,671.9 |
5,725.5 |
17,904.1 |
13,449.9 |
|
Dividends Paid to Minority Interests |
-5.6 |
-4.2 |
-4.1 |
-9.3 |
-9.2 |
|
Dividends Paid |
-970.9 |
-968.4 |
- |
-615.8 |
-610.9 |
|
Net Change in Minority Interests |
-445.4 |
152.8 |
120.3 |
264.9 |
-400.7 |
|
Cash from Financing Activities |
-4,003.1 |
-2,476.3 |
-563.3 |
12,041.1 |
-1,567.4 |
|
|
|
|
|
|
|
|
Foreign Exchange Effects |
-1,707.2 |
-1,872.3 |
-1,159.3 |
2,530.9 |
2,464.8 |
|
Net Change in Cash |
1,367.1 |
-10,292.1 |
-4,152.0 |
19,605.9 |
9,999.7 |
|
|
|
|
|
|
|
|
Net Cash - Beginning Balance |
93,230.9 |
92,988.9 |
90,712.7 |
68,269.7 |
67,727.8 |
|
Net Cash - Ending Balance |
94,598.0 |
82,696.8 |
86,560.8 |
87,875.7 |
77,727.5 |
|
Cash Taxes Paid |
1,178.9 |
772.2 |
544.1 |
1,038.3 |
798.8 |
Geographic Segments
Financials in: As Reported (mil)
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Annual |
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Geographic Segments
Financials in: As Reported (mil)
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Interim |
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Business Segments
Financials in: As Reported (mil)
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Annual |
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Business Segments
Financials in: As Reported (mil)
|
Interim |
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This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.50.31 |
|
UK Pound |
1 |
Rs.79.04 |
|
Euro |
1 |
Rs.65.82 |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
---- |
NB |
New Business |
---- |
This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a
composite of weighted scores obtained from each of the major sections of this
report. The assessed factors and their relative weights (as indicated through
%) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)