Of Special Interest
Filters
- Newslink Trends-The Global Strategic Perspective
- Juniper Research says digital wallet users to exceed 4.4 billion by 2025, as mobile drives digital payments’ revolution
- Criminals exploit COVID-19 pandemic with rise in scams targeting victims online
- Equifax says Open Banking proving pivotal to pandemic lending
- Consumer confidence in banks, credit card providers and investments remain stable as demand supercharges digital finance says Toluna research
- Mintos says Europeans are starting to embrace investing
- US banks see IT modernisation as a way to improve customer experience
- Risk mitigation in global trade depends on digitisation-Andrew Raymond, CEO, Bolero International comments
- Juniper Research new study says the volume of B2B payments facilitated by non-banks will exceed 53 billion in 2022, from a COVID-related low of 38 billion in 2020
- CMA issues fifth publication over 3 years of the service quality league table of personal and business current account providers
- Barclays says scammers take advantage of COVID-19, cashing in on nations’ uncertainty
- S&P Global report says financial market infrastructure sector's earnings likely to cool off In second half
- Global banking market capitalisation slumps by over 30% amid pandemic says Buyshares research
- Digital wallet spend in Europe & North America to increase by 40% in 2019, finds study
- Juniper forecasts mobile money transactions will exceed 200 billion by 2024
- Banks can save the world from climate change, says former UN climate chief
- Research by NatWest reveals gender divide over attitudes to saving
- Europe’s big bank problem: too much capital is trapped in the US, says Scope
- Later-Life lending market set to almost double in the next 10 years, finds report
- Barclays/Cebr report challenges nation to think differently about wealth
- Fifth of UK investors looking to debt investment, new research reveals
- Regtech will play a more important role in PSD2, says Mitek
- Banks turn to Fintech partnerships to improve customer experience, finds Fraedom
- New industry code to tackle fraud must deliver, says Which?
- New TTF report highlights loss of trust in financial services
- Arxan highlights financial app vulnerability epidemic
- SAS asks whether banks really need to choose between operations and innovation
- Which? raises alarm as almost 1,700 free ATMs become fee-charging
- Financial wellness affects half of peoples’ mental or physical health, finds report
- Study finds traditional financial institutions embrace Fintech disruption
- Grass is greener for environmentally friendly businesses, finds Barclays
- Prospective homeowners would consider a 40-year mortgage to escape renting, finds Santander
- Millennials’ needs are changing the face of banking industry, says new report
- FS is putting consumer data at risk by failing to protect mobile apps, says Arxan
- A lack of belief in their ability holds 28% women back in work, says Cambridge & Counties
- ‘Which?’ reveals Scotland has lost over a third of its bank branches in eight years
- Next downturn unlikely to be as bad as 2008, according to S&P
- FCA reveals findings from first cryptoassets consumer research
- US consumers favour single mobile app for banking and payments
- Banks suffering major IT shutdowns every day, ‘Which?’ reveals
- The US will be a key offshore centre in 2019, says GlobalData
- Debit industry changes markedly in 10 years of the Debit Issuer Study
- UK's ‘Big Five’ face ‘too big to compete’ as small challengers secure stellar returns
- Banks as vulnerable now as before crash, says new study
- Leverage ratio a constant conundrum for European and US banks, says SNL
3rd February 2012
Acquisitions aid Deutsche Bank bottom line
Deutsche Bank Q4 net attributable was €147m (£123m $194m ¥14.8bn Y1,222m) and full year of €4,132m (£3,451m $5,444m ¥415.7bn Y34,346m). The results were DOWN 76% and UP 78% on the year previous figures. The Q4 result was heavily influenced by new loan loss provisions and a significant fall in FICC business. There was also a move into loss from Equity method investments.
Income growth seen below is almost entirely due to acquisitions. At various points in the last two years the bank has acquired Deutsche Postbank (majority share so consolidated), Sal Oppenheim and parts of ABN Amro Netherlands. The increase in loan loss provisions was almost entirely down to Postbank. A problem for a number of German banks, including Postbank, is that assets hastily reclassified under the IAS 39 ('fair value fudge') rule to avoid writedowns during the banking crisis are now having to be written down. Though IAS 39 fair value writedown avoidance was open to all banks using IFRS accounting standards German banks were amongst the heaviest users of this rule.
Integration and litigation expenses were blamed for the 11% increase in expenses. There were a number of specific charges also. The bank's expense reduction program is reported to have saved €550m, against this was the one off implementation cost for introducing the savings was €150m). This compares with a planned €500m saving and €190m introduction cost.
CT1 to Basel 2.5 was 9.5% at year end.
Income Summary 2011-Q4 2010-Q4 2011-FY 2010-FY
€m €m €m €m
Net interest income 4,511 4,521 17,445 15,583
Provision for credit losses 540 406 1,839 1,274
______________________________________
Net interest income after provision 3,971 4,115 15,606 14,309
Commissions and fee income 2,610 3,055 11,544 10,669
Fair value change on financial assets 118 -169 3,058 3,354
Change on financial assets available for sale -142 15 123 201
Net income from equity method investments -356 32 -264 -2,004
Other income 158 -27 1,322 764
______________________________________
Total noninterest income 2,388 2,906 15,783 12,984
Compensation and benefits 2,798 3,077 13,135 12,671
General and administrative expenses 3,740 3,055 12,657 10,133
Policyholder benefits and claims 172 182 207 485
Impairment of intangible assets – – – 29
______________________________________
Total noninterest expenses 6,710 6,314 25,999 23,318
Income (loss) before income taxes -351 707 5,390 3,975
Income tax expense (benefit) -537 102 1,064 1,645
_____________________________________
Net income (loss) 186 605 4,326 2,330
Noncontrolling interests 39 4 194 20
____________________________________
Attributable to Deutsche Bank shareholders 147 601 4,132 2,310