SEC Form 20-F - Deutsche Bank Annual Report 2012

Deutsche Bank
Annual Report 2010 on Form 20-F
Item 11: Quantitative and Qualitative Disclosures about Credit, Market and Other Risk 149
The following table provides an overview of our net sovereign credit risk exposure to certain European Countries.
Net sovereign exposure
in € m. Dec 31, 2010
Portugal (12)
Ireland 237
Italy 8,011
Greece 1,601
Spain 2,283
Total 12,120
The above shown figures reflect a net “accounting view” of our sovereign exposure insofar as they are based
on gross IFRS exposures with further adjustments, such as with respect to netting and underlying risk, to arrive
at a net exposure view. Out of our total net sovereign credit risk exposure of € 12.1 billion to Portugal, Ireland,
Italy, Greece and Spain, € 6.9 billion was due to the consolidation of Postbank. Both, we and Postbank closely
monitor these exposures.
The following table breaks down several of our main credit exposure categories according to the industry sectors
of our counterparties.
Credit risk profile
by industry sector Loans 1
in € m.
Dec 31,
2010
Dec 31,
2009
Dec 31,
2010
Irrevocable lending
commitments 2
Dec 31,
2009
Contingent liabilities OTC derivatives 3 Total
Banks and insurance 38,798 22,002 22,241 25,289 17,801 11,315 32,315 27,948 111,155 86,554
Fund management
activities 27,964 26,462 6,435 11,135 2,392 540 9,318 12,922 46,109 51,059
Manufacturing 20,748 17,314 31,560 24,814 18,793 16,809 3,270 2,169 74,371 61,106
Wholesale and retail
trade 13,637 10,938 7,369 6,027 5,022 3,443 517 604 26,545 21,012
Households 167,352 85,675 9,573 4,278 2,537 1,820 842 801 180,304 92,574
Commercial real estate
activities 44,119 28,959 3,210 1,876 2,196 2,194 1,577 1,286 51,102 34,315
Public sector 24,113 9,572 858 520 57 19 6,510 5,527 31,538 15,638
Other 4 74,294 60,526 42,634 30,186 19,258 16,043 7,956 13,283 144,142 120,038
Total 411,025 261,448 123,880 104,125 68,056 52,183 62,305 64,540 665,266 482,296
Dec 31,
2010
Dec 31,
2009
Dec 31,
2010
Dec 31,
2009
1 Includes impaired loans amounting to € 6.3 billion as of December 31, 2010 and € 7.2 billion as of December 31, 2009.
2 Includes irrevocable lending commitments related to consumer credit exposure of € 4.5 billion as of December 31, 2010 and € 2.9 billion as of December 31, 2009.
3 Includes the effect of netting agreements and cash collateral received where applicable.
4 Loan exposures for Other include lease financing.
During 2010 our credit risk profile composition by industry sector remained largely unchanged with the exception
of effects from consolidation of Postbank. These effects included € 75 billion in household loans, € 21 billion in
loans to banks and insurance companies, € 15 billion in commercial real estate loans as well as € 8 billion in
loans to the public sector.
Our loans, irrevocable lending commitments, contingent liabilities and OTC derivatives-related credit exposure
to our ten largest counterparties accounted for 5 % of our aggregated total credit exposure in these categories
as of December 31, 2010 compared to 7 % as of December 31, 2009. Our top ten counterparty exposures
were by majority with well-rated counterparties or relate to structured trades which show high levels of risk
mitigation, with the exception of one leveraged finance exposure.
Dec 31,
2010
Dec 31,
2009