entire - Deutsche Bank Annual Report 2012

Deutsche Bank 01 – Management Report 12
Financial Report 2010 Operating and Financial Review
Corporate Investments (CI). Combined net interest income and net gains (losses) on financial assets/ liabilities
at fair value through profit or loss were negative € 184 million in 2010, compared to positive € 793 million in
2009. The development primarily reflects the non-recurrence of gains recorded in 2009 related to our minority
stake in Postbank.
Consolidation & Adjustments (C&A). Combined net interest income and net gains (losses) on financial assets/
liabilities at fair value through profit or loss were € 331 million in 2010, compared to € 649 million in 2009. The
main reason for the decrease were gains recorded in 2009 from derivative contracts used to hedge effects on
shareholders’ equity, resulting from obligations under share-based compensation plans, and higher net interest
income on non-divisionalized assets and liabilities, including taxes.
Provision for Credit Losses
Provision for credit losses was € 1.3 billion in 2010, versus € 2.6 billion in 2009. The provision in CIB was
€ 488 million, versus € 1.8 billion in the prior year, primarily reflecting a significant decrease in the provision for
assets reclassified in accordance with IAS 39. The provision in PCAM was € 789 million, including € 56 million
from Postbank. Excluding Postbank, the provision was € 733 million, versus € 806 million in the prior year. The
development was influenced by measures taken on portfolio and country level. Provision for credit losses in 2009
was positively impacted by changes in certain parameter and model assumptions, which reduced the provision
by € 87 million in CIB and by € 146 million in PCAM.
For further information on the provision for loan losses see the “Risk Report – Credit Risk – Movements in the
Allowance for Loan Losses.”
Remaining Noninterest Income
The following table sets forth information on our Remaining noninterest income.
in € m.
(unless stated otherwise) 2010 2009
2010 increase (decrease)
from 2009
in € m. in %
Commissions and fee income 1 10,669 8,911 1,758 20
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 remaining noninterest income 9,630 8,384 1,246 15
N/M – Not meaningful
1 includes:
2010 2009 in € m. in %
Commissions and fees from fiduciary activities:
Commissions for administration 491 392 99 25
Commissions for assets under management 2,833 2,319 514 22
Commissions for other securities business 205 214 (9) (4)
Total
Commissions, broker’s fees, mark-ups on securities underwriting
and other securities activities:
3,529 2,925 604 21
Underwriting and advisory fees 2,148 1,767 381 22
Brokerage fees 1,725 1,682 43 3
Total 3,873 3,449 424 12
Fees for other customer services 3,267 2,537 730 29
Total commissions and fee income 10,669 8,911 1,758 20