entire - Deutsche Bank Annual Report 2012

Deutsche Bank 01 – Management Report 42
Financial Report 2010 Operating and Financial Review
Value-based Management
Since 2009 we have further developed our value-based management framework, which focusses on Total Shareholder
Return (TSR). Based on a TSR-model, which identifies the determinants of our value development
empirically, key metrics for internal steering were derived and connected with business-specific value drivers.
The key metrics include indicators for profitability and growth and evaluate the development of the Group and its
divisions while considering certain constraints (for example with regard to captial consumption and leverage).
Key indicators
1 Return on Equity
2
IBIT
Besides key metrics, business-specific value drivers were identified for every business division individually.
These value drivers are the main internal and external factors which influence the performance and include
financial as well as non-financial indicators, such as the number of customers, business volumes, margins,
market share, external indicies or economic paramters. The selection of value drivers is based on empiric
analyses and was agreed with the management of each buiness division.
The improved concept was included in this years’ planning process and will be the future benchmark for
monthly financial reporting as well as the basis for the quarterly discussion of individual business divisions’
performance expecatations.
Events after the Reporting Date
5 Revenue growth
6
IBIT growth
9 Core Tier 1 ratio
Leverage ratio
3 Cost/income ratio
7 Asset growth
11 Liquidity
4 Economic profit
8 Economic profit growth 12 Econ. capital usage
After the balance sheet date no significant events occurred, which had a significant impact on our results of
operations, financial position and net assets.
10
13 Share of classic banking
14
Revenues from growth
regions