entire - Deutsche Bank Annual Report 2012

Deutsche Bank 01 – Management Report 8
Financial Report 2010 Operating and Financial Review
The aforementioned shifts in currencies led to an increase in our assets, liabilities and invested assets compared
to December 31, 2009. After the successfully completed capital increase, our Tier 1 capital ratio was 12.3 %
and our Core Tier 1 capital ratio was 8.7 % as of December 31, 2010. Risk-weighted assets at year-end 2010
were € 346 billion, versus € 273 billion at year-end 2009, largely as a result of € 60 billion attributable to the
first time consolidation of Postbank.
The following table presents our condensed consolidated statement of income for 2010 and 2009.
in € m.
(unless stated otherwise) 2010 2009
2010 increase (decrease)
from 2009
in € m. in %
Net interest income 15,583 12,459 3,124 25
Provision for credit losses 1,274 2,630 (1,356) (52)
Net interest income after provision for credit losses 14,309 9,829 4,480 46
Commissions and fee income 10,669 8,911 1,758 20
Net gains (losses) on financial assets/liabilities
at fair value through profit or loss 3,354 7,109 (3,755) (53)
Net gains (losses) on financial assets available for sale 201 (403) 604 N/M
Net income (loss) from equity method investments (2,004) 59 (2,063) N/M
Other income (loss) 764 (183) 947 N/M
Total noninterest income 12,984 15,493 (2,509) (16)
Total net revenues 27,293 25,322 1,971 8
Compensation and benefits 12,671 11,310 1,361 12
General and administrative expenses 10,133 8,402 1,731 21
Policyholder benefits and claims 485 542 (57) (11)
Impairment of intangible assets 29 (134) 163 N/M
Restructuring activities – – – N/M
Total noninterest expenses 23,318 20,120 3,198 16
Income (loss) before income taxes 3,975 5,202 (1,227) (24)
Income tax expense (benefit) 1,645 244 1,401 N/M
Net income (loss) 2,330 4,958 (2,628) (53)
Net income (loss) attributable to noncontrolling interests 20 (15) 35 N/M
Net income (loss) attributable to Deutsche Bank shareholders 2,310 4,973 (2,663) (54)
N/M – Not meaningful