SEC Form 20-F - Deutsche Bank Annual Report 2012

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Deutsche Bank Notes to the Consolidated Balance Sheet F-108 Annual Report 2010 on Form 20-F 18 – Loans 18 – Loans The following are the principal components of loans by industry classification. in € m. Dec 31, 2010 Dec 31, 2009 Banks and insurance 38,798 22,002 Manufacturing 20,748 17,314 Households (excluding mortgages) 35,115 27,002 Households – mortgages 132,235 58,673 Public sector 24,113 9,572 Wholesale and retail trade 13,637 10,938 Commercial real estate activities 44,120 28,959 Lease financing 2,321 2,078 Fund management activities 27,964 26,462 Other 72,841 59,698 Gross loans 411,892 262,698 (Deferred expense)/unearned income 867 1,250 Loans less (deferred expense)/unearned income 411,025 261,448 Less: Allowance for loan losses 3,296 3,343 Total loans 407,729 258,105 Commitments and Contingent Liabilities The table below summarizes the contractual amounts of the Group’s irrevocable lending-related commitments and contingent liabilities. Contingent liabilities mainly consist of financial and performance guarantees, standby letters of credit and indemnity agreements. The contractual amount of these commitments is the maximum amount at risk for the Group if the customer fails to meet its obligations. Probable losses under these contracts are recognized as provisions. in € m. Dec 31, 2010 Dec 31, 2009 Irrevocable lending commitments 123,881 104,125 Contingent liabilities 68,055 52,183 Total 191,936 156,308 Commitments and contingent liabilities stated above do not represent expected future cash flows as many of these contracts will expire without being drawn. The Group may require collateral to mitigate the credit risk of commitments and contingent liabilities. Government Assistance In the course of its business, the Group regularly applies for and receives government support by means of Export Credit Agency (“ECA”) guarantees covering transfer and default risks for the financing of exports and investments into Emerging Markets and, to a lesser extent, developed markets for Structured Trade & Export Finance business. Almost all export-oriented states have established such ECAs to support their domestic exporters. The ECAs act in the name and on behalf of the government of their respective country and are either constituted directly as governmental departments or organized as private companies vested with the official mandate of the government to act on its behalf. Terms and conditions of such ECA guarantees granted for shortterm, mid-term and long-term financings are quite comparable due to the fact that most of the ECAs act within the scope of the Organisation for Economic Cooperation and Development (“OECD”) consensus rules. The OECD consensus rules, an intergovernmental agreement of the OECD member states, define benchmarks to ensure that a fair competition between different exporting nations will take place.
Deutsche Bank Notes to the Consolidated Balance Sheet F-109 Annual Report 2010 on Form 20-F 19 – Allowance for Credit Losses In some countries dedicated funding programs with governmental support are offered for ECA-covered financings. On a selective basis, the Group makes use of such programs. In certain financings, the Group also receives government guarantees from national and international governmental institutions as collateral to support financings in the interest of the respective governments. The majority of such ECA guarantees received by the Group were issued either by the Euler-Hermes Kreditversicherungs AG acting on behalf of the Federal Republic of Germany or by the Commodity Credit Corporation acting on behalf of the United States. 19 – Allowance for Credit Losses The allowance for credit losses consists of an allowance for loan losses and an allowance for off-balance sheet positions. The following table presents a breakdown of the movements in the Group’s allowance for loan losses for the periods specified. in € m. Individually assessed Collectively assessed Total 2010 2009 2008 Individually assessed Collectively assessed Total Individually assessed Collectively assessed Total Allowance, beginning of year 2,029 1,314 3,343 977 961 1,938 930 775 1,705 Provision for loan losses 562 751 1,313 1,789 808 2,597 382 702 1,084 Net charge-offs: (896) (404) (1,300) (637) (419) (1,056) (301) (477) (778) Charge-offs (934) (509) (1,443) (670) (552) (1,222) (364) (626) (990) Recoveries 38 104 143 33 133 166 63 149 212 Changes in the group of consolidated companies – – – – – – – – – Exchange rate changes/other (52) (8) (60) (101) (36) (137) (34) (39) (74) Allowance, end of year 1,643 1,653 3,296 2,029 1,314 3,343 977 961 1,938 The following table presents the activity in the Group’s allowance for off-balance sheet positions, which consists of contingent liabilities and lending-related commitments. in € m. Individually assessed Collectively assessed Total 2010 2009 2008 Individually assessed Collectively assessed Total Individually assessed Collectively assessed Total Allowance, beginning of year 83 124 207 98 112 210 101 118 219 Provision for off-balance sheet positions (18) (21) (39) 21 12 33 (2) (6) (8) Usage – – – (45) – (45) – – – Changes in the group of consolidated companies 42 – 42 – – – – – – Exchange rate changes/other 1 7 8 10 – 10 (1) – (1) Allowance, end of year 108 110 218 83 124 207 98 112 210 In 2010 we recorded changes in the group of consolidated companies for off-balance sheet allowances following the consolidation of acquisitions amounting to € 34 million for Postbank Group and € 8 million for Sal. Oppenheim/BHF-BANK.
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2011 April 28, 2011 Interim Report
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SEC Form 20-F - Deutsche Bank Annual Report 2012

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