entire - Deutsche Bank Annual Report 2012

Deutsche Bank
Annual Review 2010
Letter from the Chairman of the Management Board
Another key element of our success is our risk and capital
management. Even after the consolidation of Sal. Oppenheim,
ABN AMRO and Postbank, we recorded a Tier 1 ratio of 12.3 %
and a core Tier 1 ratio of 8.7 % at the end of 2010. By means
of the biggest capital increase in the bank’s history, we secured
the funding needed for the Postbank takeover and strengthened
our capital base ahead of the stricter requirements under
the Basel III regulatory framework. As things stand today, we
expect to meet the Basel III solvency ratios, due to be phased
in by 2019, as early as 2013. To this end, we will maintain our
disciplined capital management, pay an appropriate dividend
and implement our growth initiatives.
Our dividend proposal also serves to meet this objective. With
the approval of the Supervisory Board, the Management Board
will propose a dividend of € 0.75 per share for the 2010 fi nancial
year. While this is the same amount as last year on a per-share
basis, it relates to a 50 % greater capital base.
The fact that we were able to carry out the biggest capital
increase in the bank’s history, and that it went so smoothly, is
clear evidence of investors’ confi dence in Deutsche Bank’s
future performance. On behalf of the entire bank, I would like to
take this opportunity to express once again my thanks to you
all for your trust and support. We will do everything possible to
live up to the expectations that our shareholders have for their
investment.
Today, our bank is more respected than ever across the globe.
The top positions we hold in terms of reputation and brand
strength open up new opportunities for the future. We are
fi rmly committed to our corporate social responsibility. In 2010,
we dedicated nearly € 100 million to supporting projects around
the world relating to education, sustainability, community
development and art. We regard these investments in society
as investments in our own future.
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