Document and Entity information
Document and Entity information | 6 Months Ended |
Jun. 30, 2019 | |
Document and Entity Information [Abstract] | |
Entity Registrant Name | Deutsche Bank Aktiengesellschaft |
Entity Central Index Key | 0001159508 |
Current Fiscal Year End Date | --12-31 |
Document Type | 6-K |
Document Period End Date | Jun. 30, 2019 |
Document Fiscal Year Focus | 2019 |
Document Fiscal Period Focus | H1 |
Amendment Flag | false |
Consolidated Statement of Incom
Consolidated Statement of Income - EUR (€) € in Millions | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | ||
Consolidated Statement of Income [Line Items] | |||||
Interest and similar income | [1] | € 6,805 | € 6,414 | € 13,307 | € 12,409 |
Interest expense | 3,174 | 2,950 | 6,374 | 5,994 | |
Net interest income | [2] | 3,630 | 3,465 | 6,933 | 6,415 |
Provision for credit losses | 161 | 95 | 301 | 183 | |
Net interest income after provision for credit losses | 3,469 | 3,369 | 6,632 | 6,232 | |
Commissions and fee income | 2,484 | 2,634 | 4,865 | 5,286 | |
Net gains (losses) on financial assets/liabilities at fair value through profit or loss | 213 | 147 | 982 | 1,296 | |
Net gains (losses) on financial assets at amortized cost | 1 | 0 | 1 | 2 | |
Net gains (losses) on financial assets mandatory at fair value through other comprehensive income | 24 | 125 | 70 | 279 | |
Net income (loss) from equity method investments | 45 | 74 | 79 | 176 | |
Other income (loss) | (195) | 146 | (377) | 113 | |
Total noninterest income | 2,573 | 3,126 | 5,620 | 7,152 | |
Compensation and benefits | 2,813 | 3,050 | 5,679 | 6,052 | |
General and administrative expenses | 3,089 | 2,552 | 6,159 | 6,008 | |
Impairment of goodwill and other intangible assets | 1,035 | 0 | 1,035 | 0 | |
Restructuring activities | 50 | 182 | 33 | 181 | |
Total noninterest expenses | 6,987 | 5,784 | 12,906 | 12,241 | |
Profit (loss) before tax | (946) | 711 | (654) | 1,143 | |
Income tax expense (benefit) | 2,204 | 310 | 2,295 | 622 | |
Net income (loss) | (3,150) | 401 | (2,949) | 521 | |
Net income (loss) attributable to noncontrolling interests | 40 | 40 | 63 | 40 | |
Net income (loss) attributable to Deutsche Bank shareholders and additional equity components | € (3,190) | € 361 | € (3,012) | € 481 | |
[1] | Interest and similar income include EUR4.6billion for the three months ended June 30, 2019 and EUR4.2billion for the three months ended June 30, 2018 and EUR9.2billion for the six months ended June 30, 2019 and EUR8.2billion for the six months ended June 30, 2018 were calculated based on the effective interest method. | ||||
[2] | Prior period comparatives have been restated. EUR35million and EUR73million were reclassified from Net interest income to Commission and fee Income for the three months and six months ended June 30, 2018, respectively. |
Consolidated Statement of Inc_2
Consolidated Statement of Income (Parenthetical) - EUR (€) € in Millions | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | ||
Consolidated Statement of Income [Abstract] | |||||
Interest and similar income | [1] | € 6,805 | € 6,414 | € 13,307 | € 12,409 |
of which: calculated based on the effective interest rate method | € 4,570 | € 4,240 | € 9,160 | € 8,167 | |
[1] | Interest and similar income include EUR4.6billion for the three months ended June 30, 2019 and EUR4.2billion for the three months ended June 30, 2018 and EUR9.2billion for the six months ended June 30, 2019 and EUR8.2billion for the six months ended June 30, 2018 were calculated based on the effective interest method. |
Earnings per Common Share
Earnings per Common Share - € / shares | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | ||
Earnings per share [Abstract] | |||||
Basic | [1],[2] | € (1.66) | € 0.03 | € (1.59) | € 0.09 |
Diluted | [1],[2] | € (1.66) | € 0.03 | € (1.59) | € 0.09 |
Number of shares in million [Abstract] | |||||
Denominator for basic earnings per share, weighted-average shares outstanding | 2,114 | 2,104 | 2,105.5 | 2,100 | |
Denominator for diluted earnings per share, adjusted weighted-average shares after assumed conversions | 2,114 | 2,155.3 | 2,105.5 | 2,153.2 | |
[1] | Due to the net loss situation for the three and six months ended June 30, 2019 potentially dilutive shares are generally not considered for the EPS calculation, because to do so would decrease the net loss per share. Under a net income situation however, the number of adjusted weighted average shares after assumed conversion would have been increased by 49million shares and 51.5million shares for the three and six months ended June 30, 2019, respectively. | ||||
[2] | Earnings were adjusted by EUR330million before tax and EUR292million net of tax for the coupons paid on Additional Tier 1 Notes in April 2019 and April 2018, respectively. In 2019 the tax impact is recognized in net income (loss) directly. The coupons paid on Additional Tier 1 Notes are not attributable to Deutsche Bank shareholders and therefore need to be deducted in the calculation in accordance with IAS 33. |
Earnings per Common Share (Pare
Earnings per Common Share (Parenthetical) - EUR (€) | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | |
Earnings per Common Share [Abstract] | ||||
Earnings adjusted for coupons paid in April for Additional Tier 1 Notes, before tax | € 330,000,000 | € 330,000,000 | ||
Earnings adjusted for coupons paid in April for Additional Tier 1 Notes, net of tax | € 292,000,000 | € 292,000,000 | ||
Increase of adjusted weighted average shares after assumed conversion | € 49,000,000 | € 51,500,000 |
Consolidated Statement of Compr
Consolidated Statement of Comprehensive Income - EUR (€) € in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | |
Consolidated Statement of Comprehensive Income [Line Items] | ||||
Net income (loss) recognized in the income statement | € (3,150) | € 401 | € (2,949) | € 521 |
Other Comprehensive Income: Items that will not be reclassified to profit or loss [Abstract] | ||||
Remeasurement gains (losses) related to defined benefit plans, before tax | (314) | (45) | (568) | (208) |
Net fair value gains (losses) attributable to credit risk related to financial liabilities designated as at fair value through profit or loss, before tax | (15) | 146 | (11) | 195 |
Total of income tax related to items that will not be reclassified to profit or loss | 100 | (22) | 181 | 26 |
Items that are or may be reclassified to profit or loss: Financial assets at fair value through other comprehensive income [Abstract] | ||||
Unrealized net gains (losses) arising during the period, before tax | 214 | (52) | 440 | (205) |
Realized net (gains) losses arising during the period (reclassified to profit or loss), before tax | (24) | (125) | (70) | (279) |
Derivatives hedging variability of cash flows [Abstract] | ||||
Unrealized net gains (losses) arising during the period, before tax | 8 | 5 | 10 | (2) |
Realized net (gains) losses arising during the period (reclassified to profit or loss), before tax | 1 | 0 | (1) | 0 |
Assets classified as held for sale [Abstract] | ||||
Unrealized net gains (losses) arising during the period, before tax | 0 | 2 | 0 | 2 |
Realized net (gains) losses arising during the period (reclassified to profit or loss), before tax | 0 | (2) | 0 | (2) |
Foreign currency translation [Abstract] | ||||
Unrealized net gains (losses) arising during the period, before tax | (483) | 785 | (92) | 375 |
Realized net (gains) losses arising during the period (reclassified to profit or loss), before tax | 0 | (1) | 0 | (1) |
Equity Method Investments [Abstract] | ||||
Net gains (losses) arising during the period | (21) | (7) | (25) | (8) |
Total of income tax related to items that are or may be reclassified to profit or loss | 20 | 110 | 15 | 173 |
Other comprehensive income (loss), net of tax | (514) | 794 | (121) | 64 |
Total comprehensive income (loss), net of tax | (3,664) | 1,196 | (3,070) | 586 |
Attributable to [Abstract] | ||||
Noncontrolling interests | 13 | 79 | 59 | 71 |
Deutsche Bank shareholders and additional equity components | € (3,677) | € 1,117 | € (3,128) | € 515 |
Consolidated Balance Sheet
Consolidated Balance Sheet - EUR (€) € in Millions | Jun. 30, 2019 | Dec. 31, 2018 |
Assets [Abstract] | ||
Cash and central bank balances | € 160,982 | € 188,731 |
Interbank balances (w/o central banks) | 10,144 | 8,881 |
Central bank funds sold and securities purchased under resale agreements | 9,126 | 8,222 |
Securities borrowed | 647 | 3,396 |
Financial assets at fair value through profit or loss [Abstract] | ||
Trading assets | 162,608 | 152,738 |
Positive market values from derivative financial instruments | 366,007 | 320,058 |
Non-trading financial assets mandatory at fair value through profit and loss | 101,370 | 100,444 |
Financial assets designated at fair value through profit or loss | 35 | 104 |
Total financial assets at fair value through profit or loss | 630,020 | 573,344 |
Financial assets at fair value through other comprehensive income | 49,959 | 51,182 |
Equity method investments | 919 | 879 |
Loans at amortized cost | 414,889 | 400,297 |
Property and equipment | 5,334 | 2,421 |
Goodwill and other intangible assets | 7,708 | 9,141 |
Other assets | 138,676 | 93,444 |
Assets for current tax | 2,139 | 970 |
Deferred tax assets | 5,553 | 7,230 |
Total assets | 1,436,096 | 1,348,137 |
Liabilities and equity [Abstract] | ||
Deposits | 576,506 | 564,405 |
Central bank funds purchased and securities sold under repurchase agreements | 7,532 | 4,867 |
Securities loaned | 2,992 | 3,359 |
Financial liabilities at fair value through profit or loss [Abstract] | ||
Trading liabilities | 58,394 | 59,924 |
Negative market values from derivative financial instruments | 347,048 | 301,487 |
Financial liabilities designated at fair value through profit or loss | 51,818 | 53,757 |
Investment contract liabilities | 557 | 512 |
Total financial liabilities at fair value through profit or loss | 457,816 | 415,680 |
Other short-term borrowings | 12,418 | 14,158 |
Other liabilities | 157,946 | 117,513 |
Provisions | 2,511 | 2,711 |
Liabilities for current tax | 1,818 | 944 |
Deferred tax liabilities | 678 | 512 |
Long-term debt | 147,629 | 152,083 |
Trust preferred securities | 3,269 | 3,168 |
Obligation to purchase common shares | 0 | 0 |
Total liabilities | 1,371,114 | 1,279,400 |
Common shares, no par value, nominal value of EUR 2.56 | 5,291 | 5,291 |
Additional paid-in capital | 40,318 | 40,252 |
Retained earnings | 12,624 | 16,714 |
Common shares in treasury, at cost | (12) | (15) |
Equity classified as obligation to purchase common shares | 0 | 0 |
Accumulated other comprehensive income (loss), net of tax | 521 | 253 |
Total shareholders equity | 58,742 | 62,495 |
Additional equity components | 4,675 | 4,675 |
Noncontrolling interests | 1,565 | 1,568 |
Total equity | 64,982 | 68,737 |
Total liabilities and equity | € 1,436,096 | € 1,348,137 |
Consolidated Balance Sheet (Par
Consolidated Balance Sheet (Parenthetical) | 6 Months Ended |
Jun. 30, 2019EUR (€) | |
Consolidated Balance Sheet [Abstract] | |
Common Shares, no par value, nominal value | € 2.56 |
Consolidated Statement of Chang
Consolidated Statement of Changes in Equity - EUR (€) € in Millions | Total equity [Member] | Common shares (no par value) [Member] | Additional paid-in capital [Member] | Retained earnings [Member] | Common shares in treasury, at cost [Member] | Unrealized net gains (losses) on financial assets available for sale, net of applicable tax and other [Member] | [1] | Unrealized net gains (losses) on financial assets at FVOCI, net of tax and other | [1] | Unrealized net gains (losses) Attributable to change in own credit risk of financial liabilities designated at FVTPL, net of tax | [1] | Unrealized net gains (losses) on derivatives hedging variability of cash flows, net of tax [Member] | [1] | Unrealized net gains (losses) on assets classified as held for sale, net of tax [Member] | [1] | Foreign currency translation, net of tax [Member] | [1] | Unrealized net gains (losses) from equity method investments [Member] | Accumulated other comprehensive income, net of tax [Member] | Total shareholders equity [Member] | Additional equity components [Member] | [3] | Noncontrolling interests [Member] | |||||
Balance (IAS 39) as of December 31, 2017 | € 68,099 | € 5,291 | € 39,918 | € 17,454 | € (9) | € 689 | € 0 | € 0 | € 18 | € 0 | € (227) | € 40 | € 520 | [2] | € 63,174 | € 4,675 | € 250 | |||||||||||
IFRS 9 Introduction Impact | (672) | 0 | (2) | (301) | 0 | (689) | 394 | (16) | 0 | 0 | (45) | (12) | (368) | [2] | (671) | 0 | (1) | |||||||||||
Equity, Balance at Dec. 31, 2017 | 67,427 | 5,291 | 39,916 | 17,153 | (9) | 0 | 394 | (16) | 18 | 0 | (272) | 28 | 152 | [2] | 62,503 | 4,675 | 249 | |||||||||||
Total comprehensive income (loss), net of tax | [2] | 721 | 0 | 0 | 481 | 0 | 0 | (338) | 151 | (2) | 0 | 364 | (12) | 163 | 644 | 0 | 77 | |||||||||||
Gains (losses) attributable to Equity instruments designated at FVTOCI, net of tax | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | [2] | 0 | 0 | 0 | |||||||||||
Gains (losses) upon early ext. attributable to change in own credit risk of financial liabilities designated at FVTPL, net of tax | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | [2] | 0 | 0 | 0 | |||||||||||
Common shares issued | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | [2] | 0 | 0 | 0 | |||||||||||
Cash dividends paid | (227) | 0 | 0 | (227) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | [2] | (227) | 0 | 0 | |||||||||||
Coupon on additional equity components, net of tax | (292) | 0 | 0 | (292) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | [2] | (292) | 0 | 0 | |||||||||||
Remeasurement gains (losses) related to defined benefit plans, net of tax | (139) | 0 | 0 | (129) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | [2] | (129) | 0 | (9) | |||||||||||
Net change in share awards in the reporting period | 72 | 0 | 52 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | [2] | 52 | 0 | 20 | |||||||||||
Treasury shares distributed under share-based compensation plans | 101 | 0 | 0 | 0 | 101 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | [2] | 101 | 0 | 0 | |||||||||||
Tax benefits related to share-based compensation plans | (5) | 0 | (5) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | [2] | (5) | 0 | 1 | |||||||||||
Option premiums and other effects from options on common shares | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | [2] | 0 | 0 | 0 | |||||||||||
Purchases of treasury shares | (3,006) | 0 | 0 | 0 | (3,006) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | [2] | (3,006) | 0 | 0 | |||||||||||
Sale of treasury shares | 2,839 | 0 | 0 | 0 | 2,839 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | [2] | 2,839 | 0 | 0 | |||||||||||
Net gains (losses) on treasury shares sold | 3 | 0 | 3 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | [2] | 3 | 0 | 0 | |||||||||||
Other | 1,368 | 0 | 175 | [4] | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | [2] | 175 | 0 | 1,192 | [4] | |||||||||
Equity, Balance at Jun. 30, 2018 | 68,861 | 5,291 | 40,141 | 16,985 | (75) | 0 | 56 | 135 | 16 | 0 | 92 | 16 | 315 | [2] | 62,656 | 4,675 | 1,529 | |||||||||||
Equity, Balance at Dec. 31, 2018 | 68,737 | 5,291 | 40,252 | 16,714 | (15) | 0 | (34) | 28 | 17 | 0 | 228 | 15 | 253 | [2] | 62,495 | 4,675 | 1,568 | |||||||||||
Total comprehensive income (loss), net of tax | [2] | (2,681) | 0 | 0 | (3,012) | 0 | 0 | 313 | (8) | 6 | 0 | (24) | (18) | 269 | (2,744) | 0 | 63 | |||||||||||
Gains (losses) attributable to Equity instruments designated at FVTOCI, net of tax | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | [2] | 0 | 0 | 0 | |||||||||||
Gains (losses) upon early ext. attributable to change in own credit risk of financial liabilities designated at FVTPL, net of tax | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | [2] | 0 | 0 | 0 | |||||||||||
Common shares issued | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | [2] | 0 | 0 | 0 | |||||||||||
Cash dividends paid | (283) | 0 | 0 | (227) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | [2] | (227) | 0 | (56) | |||||||||||
Coupon on additional equity components, net of tax | (330) | 0 | 0 | (330) | [5] | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | [2] | (330) | 0 | 0 | ||||||||||
Remeasurement gains (losses) related to defined benefit plans, net of tax | (389) | 0 | 0 | (385) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | [2] | (385) | 0 | (4) | |||||||||||
Net change in share awards in the reporting period | (25) | 0 | (23) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | [2] | (23) | 0 | (1) | |||||||||||
Treasury shares distributed under share-based compensation plans | 121 | 0 | 0 | 0 | 121 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | [2] | 121 | 0 | 0 | |||||||||||
Tax benefits related to share-based compensation plans | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | [2] | 0 | 0 | 0 | |||||||||||
Option premiums and other effects from options on common shares | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | [2] | 0 | 0 | 0 | |||||||||||
Purchases of treasury shares | (934) | 0 | 0 | 0 | (934) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | [2] | (934) | 0 | 0 | |||||||||||
Sale of treasury shares | 816 | 0 | 0 | 0 | 816 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | [2] | 816 | 0 | 0 | |||||||||||
Net gains (losses) on treasury shares sold | 2 | 0 | 2 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | [2] | 2 | 0 | 0 | |||||||||||
Other | (53) | 0 | 88 | (136) | [6] | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | [2] | (48) | 0 | (5) | ||||||||||
Equity, Balance at Jun. 30, 2019 | € 64,982 | € 5,291 | € 40,318 | € 12,624 | € (12) | € 0 | € 279 | € 19 | € 23 | € 0 | € 204 | € (4) | € 521 | [2] | € 58,742 | € 4,675 | € 1,565 | |||||||||||
[1] | Excluding unrealized net gains (losses) from equity method investments. | |||||||||||||||||||||||||||
[2] | Excluding remeasurement gains (losses) related to defined benefit plans, net of tax. | |||||||||||||||||||||||||||
[3] | Includes Additional Tier 1 Notes, which constitute unsecured and subordinated notes of Deutsche Bank and are classified as equity in accordance with IFRS. | |||||||||||||||||||||||||||
[4] | Includes impact from initial public offering DWS Group GmbH & Co. KGaA. | |||||||||||||||||||||||||||
[5] | In 2019 tax impact is recognized in net income (loss) directly. | |||||||||||||||||||||||||||
[6] | IFRS 16 introduction impact |
Consolidated Statement of Cash
Consolidated Statement of Cash Flows - EUR (€) € in Millions | 6 Months Ended | |||
Jun. 30, 2019 | Jun. 30, 2018 | |||
Consolidated Statement of Cash Flows [Line Items] | ||||
Net income (loss) | € (2,949) | € 521 | ||
Cash flows from operating activities: Adjustments to reconcile net income to net cash provided by (used in) operating activities [Abstract] | ||||
Provision for credit losses | 301 | 183 | ||
Restructuring activities | 33 | 181 | ||
Gain on sale of financial assets at fair value through other comprehensive income, equity method investments and other | (78) | (543) | ||
Deferred income taxes, net | 2,015 | 335 | ||
Impairment, depreciation and other amortization, and accretion | 2,446 | 1,170 | ||
Share of net income from equity method investments | (74) | (86) | ||
Income (loss) adjusted for noncash charges, credits and other items | 1,694 | 1,761 | ||
Adjustments for net change in operating assets and liabilities [Abstract] | ||||
Interest-earning time deposits with central banks and banks | (949) | (11,773) | ||
Central bank funds sold, securities purchased under resale agreements, securities borrowed | 1,873 | 18,008 | ||
Non-Trading financial assets mandatory at fair value through profit and loss | (380) | (92,687) | ||
Financial assets designated at fair value through profit or loss | 72 | 90,604 | ||
Loans at amortized cost | (13,258) | 8,392 | ||
Other assets | (56,909) | (33,387) | ||
Deposits | 11,502 | (20,493) | ||
Financial liabilities designated at fair value through profit or loss and investment contract liabilities | [1] | (2,184) | (23,867) | |
Central bank funds purchased, securities sold under repurchase agreements, securities loaned | 2,285 | (3,972) | ||
Other short-term borrowings | (1,749) | (716) | ||
Other liabilities | 37,805 | 18,856 | ||
Senior long-term debt | [2] | (4,907) | (1,412) | |
Trading assets and liabilities, positive and negative market values from derivative financial instruments, net | (11,380) | 17,327 | ||
Other, net | 16,220 | (1,289) | ||
Net cash provided by (used in) operating activities | (20,260) | (34,648) | ||
Cash flows from investing activities: Proceeds from [Abstract] | ||||
Sale of financial assets at fair value through other comprehensive income | 10,378 | 13,277 | ||
Maturities of financial assets at fair value through other comprehensive income | 18,503 | 13,513 | ||
Sale of debt securities held to collect at AC | 21 | 95 | ||
Maturities of debt securities held to collect at AC | 605 | 658 | ||
Sale of equity method investments | 5 | 29 | ||
Sale of property and equipment | 11 | 289 | ||
Purchase of [Abstract] | ||||
Financial assets at fair value through other comprehensive income | (26,520) | (17,114) | ||
Debt securities held to collect at amortized cost | (11,550) | (126) | ||
Equity method investments | (5) | 0 | ||
Property and equipment | (313) | (196) | ||
Net cash received in (paid for) business combinations/divestitures | 1,622 | 101 | ||
Other, net | (541) | (590) | ||
Net cash provided by (used in) investing activities | (7,784) | 9,936 | ||
Cash flows from financing activities [Abstract] | ||||
Issuances of subordinated long-term debt | 19 | [3] | 47 | |
Repayments and extinguishments of subordinated long-term debt | (84) | [3] | (802) | |
Issuances of trust preferred securities | 0 | [4] | 1 | |
Repayments and extinguishments of trust preferred securities | 0 | [4] | (2,723) | |
Common shares issued | 0 | 0 | ||
Purchases of treasury shares | (934) | (3,006) | ||
Sale of treasury shares | 822 | 2,838 | ||
Additional Equity Components (AT1) issued | 0 | 0 | ||
Purchases of Additional Equity Components (AT1) | (61) | (191) | ||
Sale of Additional Equity Components (AT1) | 63 | 200 | ||
Coupon on additional equity components, pre tax | (330) | (315) | ||
Dividends paid to noncontrolling interests | (56) | 0 | ||
Net change in noncontrolling interests | (5) | 1,204 | ||
Cash dividends paid to Deutsche Bank shareholders | (227) | (227) | ||
Other, net | 0 | 52 | ||
Net cash provided by (used in) financing activities | (406) | (2,922) | ||
Net effect of exchange rate changes on cash and cash equivalents | 793 | (63) | ||
Net increase (decrease) in cash and cash equivalents | (27,657) | (27,697) | ||
Cash and cash equivalents at beginning of period | 180,822 | 229,025 | ||
Cash and cash equivalents at end of period | 153,165 | 201,326 | ||
Net cash provided by (used in) operating activities include [Abstract] | ||||
Income taxes paid (received), net | 521 | 298 | ||
Interest paid | 6,505 | 6,911 | ||
Interest and dividends received [Abstract] | ||||
Interest received | 11,913 | 10,989 | ||
Dividend received | 1,063 | 1,702 | ||
Cash and cash equivalents comprise [Abstract] | ||||
Cash and central bank balances (not included Interest-earning time deposits with central banks) | 145,703 | 193,420 | ||
Interbank balances (w/o central banks) | 7,462 | 7,906 | ||
Total | € 153,165 | € 201,326 | ||
[1] | Included are senior long-term debt issuances of EUR2.0billion and EUR3.5billion and repayments and extinguishments of EUR2.3billion and EUR3.3billion through June 30, 2019 and June 30, 2018, respectively. | |||
[2] | Included are issuances of EUR15.4billion and EUR17.3billion and repayments and extinguishments of EUR23.3billion and EUR17.7billion through June 30, 2019 and June 30, 2018, respectively. | |||
[3] | Non-cash changes for Subordinated Long-Term Debt are EUR227million in total and mainly driven by Fair Value changes of EUR224million and Foreign Exchange movements of EUR18million | |||
[4] | Non-cash changes for Trust Preferred Securities are EUR100million in total and mainly driven by Fair Value changes of EUR76million and Foreign Exchange movements of EUR9million. |
Consolidated Statement of Cas_2
Consolidated Statement of Cash Flows (Parenthetical) - EUR (€) € in Millions | 6 Months Ended | |
Jun. 30, 2019 | Jun. 30, 2018 | |
Financial Liabilities Designated at Fair Value Through Profit or Loss and Investment Contract Liabilities [Abstract] | ||
of which: Senior long-term debt issuances | € 2,000 | € 3,500 |
of which: Repayments and extinguishments | 2,300 | 3,300 |
Senior long-term debt [Abstract] | ||
of which: Issuances | 15,400 | 17,300 |
of which: Repayments and extinguishments | 23,300 | 17,700 |
Total non-cash changes for Subordinated Long Term Debt | 227 | € 0 |
of which: Driven by FX movements | 18 | |
of which: Driven by FV changes | 224 | |
Non-cash changes for Trust Preferred Securities | 100 | |
of which: Driven by FX movements | 76 | |
of which: Driven by FV Changes | 9 | |
Time deposits not included in Interbank balances (w/o central banks) | € 0 |
Basis of Preparation - Impact o
Basis of Preparation - Impact of changes in accounting principles | 6 Months Ended |
Jun. 30, 2019 | |
Basis of Preparation of Financial Statements - Impact of changes in accounting principles [Abstract] | |
Disclosure of changes in accounting policies [text block] | Basis of preparation/impact of changes in accounting principles The accompanying condensed consolidated interim financial statements, which include Deutsche Bank AG and its subsidiaries (collectively the "Group", "Deutsche Bank" or "DB"), are stated in euros, the presentation currency of the Group. They are presented in accordance with the requirements of IAS 34, "Interim Financial Reporting", and have been prepared in accordance with International Financial Reporting Standards ("IFRS") as issued by the International Accounting Standards Board ("IASB") and endorsed by the European Union ("EU"). The Group’s application of IFRS results in no differences between IFRS as issued by the IASB and IFRS as endorsed by the EU. Deutsche Bank’s condensed consolidated interim financial statements are unaudited and include supplementary disclosures on segment information, income statement, balance sheet and other financial information. They should be read in conjunction with the audited consolidated financial statements of Deutsche Bank for 2018, for which the same accounting policies and critical accounting estimates have been applied with the exception of the newly adopted accounting pronouncements outlined in section "Recently adopted accounting pronouncements". The preparation of financial statements under IFRS requires management to make estimates and assumptions for certain categories of assets and liabilities. These estimates and assumptions affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the balance sheet date, and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from management’s estimates and the results reported should not be regarded as necessarily indicative of results that may be expected for the entire year. |
Recently Adopted and New Accounting Pronouncements [text block] | Recently adopted accounting pronouncements The following are those accounting pronouncements which are relevant to the Group and which have been applied in the first half of 2019. IFRS 16 Leases On January 1, 2019, the Group adopted IFRS 16, "Leases", which introduces a single lessee accounting model and requires a lessee to recognize assets and liabilities for all leases with a term of more than 12 months, unless the underlying asset is of low value. A lessee is required to recognize a right-of-use asset representing its right to use the underlying leased asset and a lease liability representing its obligation to make lease payments. There will be only minor changes to the current accounting for lessors. The standard also requires entities to provide users of financial statements with more informative and relevant disclosures. IFRS 16 was effective for the 2019 annual period . The regulations have been adopted into European law by the EU. The Group implemented IFRS 16 through a Group-wide implementation program. The majority of leases are for land and buildings; other categories are company cars and technical/IT equipment. The Group applied the practical expedient in IFRS 16 to contracts that were identified as leases applying IAS 17, "Leases", and IFRIC 4, "Determining whether an Arrangement contains a Lease", on transition. The Group elected to apply the modified retrospective transition approach, without restatement of comparative figures. Under the modified retrospective approach, the Group was able to choose on a lease by lease basis to either (i) measure the right-of-use asset at the same amount as the lease liability, or (ii) to measure the right-of-use asset retrospectively using the transition discount rate. For approach (ii), the resulting difference between the right-of-use asset and the lease liability was recognized as an adjustment to the opening balance of retained earnings on transition. On initial application the Group applied approach (i) to leases classified as operating leases under IAS 17 except for larger property leases where the Group elected to apply approach (ii) which resulted in an adjustment to total equity on transition of € 137 million, net of tax. In addition, provisions previously recognized for onerous operating leases as well as accrued operating liabilities were derecognized upon transition, and the value of the right-of-use assets was reduced by that same amount. The impact upon adoption resulted in an € 3.2 billion and € 3.6 billion increase in the balance sheet related to the recognition of right of use assets and corresponding liabilities, respectively. This led to an overall reduction in retained earnings of € 136 million, net of tax. in € m. Operating lease commitments as of December 31, 2018 6,264 Recognition exemptions adopted for short-term leases and leases of low-value assets (35 ) Adjustments as a result of a different treatment of extension and termination options 376 Operating lease commitments regarding contracts not yet commenced (2,819 ) Other 1 97 Undiscounted lease liabilities as of January 1, 2019 3,884 Discounting (weighted average incremental borrowing rate of 2.18 %) (310 ) Lease liabilities due to initial application of IFRS 16, recognized as of January 1, 2019 3,575 Lease liabilities from finance leases as of January 1, 2019 27 Total lease liabilities recognized at January 1, 2019 3,601 1 Mainly de-scoped or terminated leases, operating expenses, utility costs, VAT, sale-and-leaseback transactions. Improvements to IFRS 2015-2017 cycles On January 1, 2019, the Group adopted the IASB issued amendments to multiple IFRS standards, which resulted from the IASB’s annual improvement project for the 2015-2017 cycles. This comprises amendments that result in accounting changes for presentation, recognition or measurement purposes as well as terminology or editorial amendments related to IFRS 3 "Business combinations", IAS 12 "Income taxes" and "IAS 23 Borrowing costs". The amendments did not have a material impact on the Group’s consolidated financial statements. New accounting pronouncements The following accounting pronouncements were not effective as of June 30, 2019 and therefore have not been applied in the first half of 2019. IFRS 3 Business combinations In October 2018, the IASB issued amendments to IFRS 3 "Business combinations". These amendments clarify the determination of whether an acquisition made is of a business or a group of assets. The amended definition of a business emphasizes that the output of a business is to provide goods and services to customers, whereas the previous definition focused on returns in the form of dividends, lower costs or other economic benefits to investors and others. Distinguishing between a business and a group of assets is important because an acquirer recognizes goodwill only when acquiring a business. The amendments will be effective for annual periods beginning on or after January 1, 2020 with early adoption permitted. The amendments will not have a material impact on the Group’s consolidated financial statements. These amendments have yet to be endorsed by the EU. IFRS 17 Insurance contracts In May 2017, the IASB issued IFRS 17, "Insurance contracts", which establishes the principles for the recognition, measurement, presentation and disclosure of insurance contracts within the scope of the standard. IFRS 17 replaces IFRS 4 which has given companies dispensation to carry on accounting for insurance contracts using national accounting standards, resulting in a multitude of different approaches. IFRS 17 solves the comparison problems created by IFRS 4 by requiring all insurance contracts to be accounted for in a consistent manner, benefiting both investors and insurance companies. Insurance obligations will be accounted for using current values - instead of historical cost. The information will be updated regularly, providing more useful information to users of financial statements. IFRS 17 is effective for annual periods beginning on or after January 1, 2021. Based on the Group’s current business activities it is expected that IFRS 17 will not have a material impact on the Group’s consolidated financial statements. The standard has yet to be endorsed by the EU. |
Impact of Deutsche Banks Transf
Impact of Deutsche Banks Transformation | 6 Months Ended |
Jun. 30, 2019 | |
Deutsche Banks Transformation [Abstract] | |
Impact of Deutsche Bank's transformation [text block] | Impact of Deutsche Bank’s transformation On July 7, 2019, Deutsche Bank announced a number of transformational measures relating to the Group’s businesses and its organization. The immediate and secondary impacts that these measures had to the Group’s operating results, financial position and capital in the second quarter 2019 are disclosed below. Impairment of goodwill The Group is assessing each quarter - end whether there is any indication that goodwill allocated to its cash-generating units ( CGU ) may be impaired in which event it would be required to estimate the recoverable amount of the respective CGU. Triggered by the impact of a lowered outlook on business plans driven both by adjustments to macro-economic factors as well as by the impact of strategic decisions in preparation of the above transformation announcement, the Group reviewed its CGUs. This review resulted in a short-fall of the recoverable amounts against the respective CGUs carrying amounts for the CGUs Wealth Management (WM) within the Private & Commercial Bank (PCB) corporate division and Global Transaction Banking & Corporate Finance (GTB & CF) within the Corporate & Investment Bank corporate division . With a recover able amount of approximately € 1.9 billion for WM , goodwill in WM (€ 545 million) was impaired and had to be fully written-off , mainly as a result of worsening macro-economic assumptions , including interest rate curves , as well as industry-specific market growth corrections for the WM business globally . For GTB & CF , the recover able amount of approximately € 10.2 billion led to the full impairment of allocated goodwill (€ 49 1 million ) . This was mainly driven by adverse industry trend s in Corporate Finance as well as by adjustments to macro-economic assumptions , including interest rate curves. The impairment charges in WM and GTB & CF were recorded in impairment of goodwill and other intangible assets of the respective PCB and CIB segment results in the second quarter 2019. The discount rates applied in the estimation of the recoverable amounts were as follows: Discount rate (post-tax) 2019 2018 Global Transaction Banking & Corporate Finance 8.6 % 8.8 % Wealth Management 8.4 % 9.0 % Impairment of software In line with the transformation announcement, the Group also reviewed current platform software and software under construction assigned to businesses subject to the transformation strategy. Accordingly, the reassessment of the respective recoverable amounts led to an impairment of self-developed software of € 328 million , thereof € 296 million in CIB , € 12 million in PCB and € 20 million in Infrastructure . The impairment write-down is included within general and administrative expenses of the second quarter 2019. Service contracts Expected changes to the scope of existing service contracts with external vendors resulted in provisions being established with a charge to expenses to the amount of € 2 3 mil l ion in the second quarter of 2019. Deferred tax asset valuation adjustments Each quarter, the Group re-evaluates its estimate related to deferred tax assets, including its assumptions about future profitability. In updating the strategic plan in connection with the transformation the Group adjusted the value of deferred tax assets in affected jurisdictions. This resulted in total valuation adjustments of € 2 .0 billion in the second quarter of 2019 that primarily relate to the U.S. and the UK. Changes in regulatory capital The impacts detailed above resulted in the movements to our regulatory capital that are set forth in the table below. The "pro-forma" column presents these numbers and ratios without the transformational impact. Capital measure (in € bn, unless stated otherwise) Jun 30,2019 (reported) Jun 30,2019 Common Equity Tier 1 capital 46.5 46.8 Risk-Weighted Assets 346.9 347.9 Common Equity Tier 1 Ratio 13.4 % 13.4 % |
Net Interest Income and Net Gai
Net Interest Income and Net Gains (Losses) on Financial Assets/Liabilities at Fair Value through Profit or Loss | 6 Months Ended |
Jun. 30, 2019 | |
Net Interest Income and Net Gains (Losses) on Financial Assets/Liabilities at Fair Value through Profit or Loss [Abstract] | |
Disclosure of Net Interest Income and Net Gains (Losses) on Financial Assets/Liabilities at Fair Value through Profit or Loss [text block] | Net Interest Income and Net Gains (Losses) on Financial Assets/Liabilities at Fair Value through Profit or Loss Three months ended Six months ended in € m. Jun 30, 2019 Jun 30, 2018 Jun 30, 2019 Jun 30, 2018 Net interest income 1 3,630 3,465 6,933 6,415 Trading income 2 148 (175 ) 985 867 Net gains (losses) on non-trading financial assets mandatory at fair value through profit or loss 189 46 319 24 Net gains (losses) on financial assets/liabilities designated at fair value through profit or loss (124 ) 275 (322 ) 405 Total net gains (losses) on financial assets/liabilities at fair value through profit or loss 213 147 982 1,296 Total net interest income and net gains (losses) on financial assets/liabilities 3,844 3,612 7,916 7,712 Sales & Trading (Equity) 237 426 615 865 Sales & Trading (FIC) 1,375 1,254 3,039 2,949 Total Sales & Trading 1,613 1,680 3,654 3,814 Global Transaction Banking 481 443 975 906 Remaining Products (210 ) (14 ) (381 ) (165 ) Corporate & Investment Bank 1,884 2,109 4,247 4,555 Private & Commercial Bank 1,561 1,573 3,098 3,103 Asset Management (1 ) 18 39 (20 ) Corporate & Other 400 (88 ) 532 74 Total net interest income and net gains (losses) on financial assets/liabilities 3,844 3,612 7,916 7,712 1 Prior period comparatives ha ve been restated. € 35 million and € 73 million were reclassified from N et interest income to Commission and f ee Income for the three months and six months ended June 30, 2018, respectively. 2 Trading income includes gains and losses from derivatives not qualifying for hedge accounting. Net interest income for the three months ended June 30, 2019 and June 30, 2018 included € 23 million and € 23 million respectively and for six months ended June 30, 2019 and June 30, 2018 included € 46 million and € 46 million respectively, which we re related to government grants under the Targeted Longer-Term Refinancing Operations II (TLTRO II)-program. |
Commission and Fee Income
Commission and Fee Income | 6 Months Ended |
Jun. 30, 2019 | |
Commissions and Fee Income [Abstract] | |
Disclosure of fee and commission income (expense) [text block] | Commissions and Fee Income Disaggregation of revenues by product type and business segment Three months ended in € m. Corporate & Investment Bank Private & Asset Corporate & Total Major type of services: Commissions for administration 68 62 6 0 136 Commissions for assets under management 5 72 824 1 903 Commissions for other securities 88 7 1 0 96 Underwriting and advisory fees 423 4 0 (1 ) 426 Brokerage fees 270 237 20 1 528 Commissions for local payments 101 261 (0 ) 0 362 Commissions for foreign commercial business 114 31 0 (0 ) 145 Commissions for foreign currency/exchange business 2 2 0 (0 ) 3 Commissions for loan processing and guarantees 158 73 0 1 232 Intermediary fees 1 125 0 2 128 Fees for sundry other customer services 146 52 30 0 228 Total fee and commissions income 1,375 927 881 4 3,188 Gross expense (711 ) Net fees and commissions 2,484 Three months ended in € m. Corporate & Investment Bank 1 Private & Asset Corporate & Total Major type of services: Commissions for administration 78 64 6 (0 ) 147 Commissions for assets under management 18 63 801 (0 ) 882 Commissions for other securities 75 7 1 0 83 Underwriting and advisory fees 504 6 0 (7 ) 503 Brokerage fees 305 215 26 0 546 Commissions for local payments 103 258 0 (0 ) 361 Commissions for foreign commercial business 120 36 0 (0 ) 156 Commissions for foreign currency/exchange business 2 2 0 0 4 Commissions for loan processing and guarantees 178 82 0 0 260 Intermediary fees 1 127 0 3 131 Fees for sundry other customer services 201 60 31 1 292 Total fee and commissions income 1,584 920 865 (4 ) 3,364 Gross expense (730 ) Net fees and commissions 2,634 1 Prior period comparatives ha ve been restated. € 35 million for the three months ended June 30, 2018 were reclassified from Commission and F ee Income to Net interest income. Six months ended in € m. Corporate & Investment Bank Private & Asset Corporate & Total Major type of services: Commissions for administration 132 121 11 (0 ) 264 Commissions for assets under management 11 140 1,563 1 1,715 Commissions for other securities 158 15 1 0 173 Underwriting and advisory fees 836 9 0 (9 ) 836 Brokerage fees 527 493 33 2 1,055 Commissions for local payments 202 524 (0 ) (0 ) 726 Commissions for foreign commercial business 231 63 0 (0 ) 293 Commissions for foreign currency/exchange business 3 4 0 (0 ) 7 Commissions for loan processing and guarantees 336 145 0 2 484 Intermediary fees 2 251 (0 ) 6 260 Fees for sundry other customer services 282 105 62 0 449 Total fee and commissions income 2,721 1,868 1,669 2 6,260 Gross expense (1,407 ) Net fees and commissions 4,865 Six months ended in € m. Corporate & Investment Bank 1 Private & Asset Corporate & Total Major type of services: Commissions for administration 150 131 12 (1 ) 292 Commissions for assets under management 32 130 1,617 (0 ) 1,778 Commissions for other securities 142 16 2 0 160 Underwriting and advisory fees 973 10 0 (21 ) 963 Brokerage fees 674 516 45 (0 ) 1,236 Commissions for local payments 209 512 (0 ) (1 ) 721 Commissions for foreign commercial business 241 71 0 (0 ) 311 Commissions for foreign currency/exchange business 4 4 0 (0 ) 7 Commissions for loan processing and guarantees 352 161 0 1 513 Intermediary fees 5 250 0 7 261 Fees for sundry other customer services 380 119 56 1 556 Total fee and commissions income 3,163 1,918 1,731 (15 ) 6,797 Gross expense (1,511 ) Net fees and commissions 5,286 1 Prior period comparatives ha ve been restated. € 73 million for the six months ended June 30, 2018 were reclassified from Commission and F ee Income to Net interest income. As of June 30, 2019, the Group’s balance of receivables from commission and fee income was € 846 million . As of June 30, 2019, the Group’s balance of contract liabilities associated to commission and fee income was € 171 million . Contract liabilities arise from the Group’s obligation to provide future services to a customer for which it has received consideration from the customer prior to completion of the services. The balances of receivables and contract liabilities do not vary significantly from period to period reflecting the fact that they predominately relate to recurring service contracts with service periods of less than one year such as monthly current account services and quarterly asset management services. Customer payment in exchange for services provided are generally subject to performance by the Group over the specific service period such that the Group’s right to payment arises at the end of the service period when its performance obligations are fully completed. Therefore no material balance of contract asset is reported. |
Restructuring
Restructuring | 6 Months Ended |
Jun. 30, 2019 | |
Restructuring [Abstract] | |
Disclosure of Restructuring [text block] | Restructuring Restructuring forms part of the Group’s strategy implementation. We have defined measures that aim to strengthen the bank, position it for growth and simplify its organisational set-up. The measures also target to reduce adjusted costs through higher efficiency, by optimizing and streamlining processes, exiting certain businesses and by exploiting synergies. Restructuring expense is comprised of termination benefits, additional expenses covering the acceleration of deferred compensation awards not yet amortized due to the discontinuation of employment and contract termination costs related to real estate. Net restructuring expense by division Three months ended Six months ended in € m. Jun 30, 2019 Jun 30, 2018 Jun 30, 2019 Jun 30, 2018 Corporate & Investment Bank 36 165 43 178 Private & Commercial Bank (13 ) 11 (39 ) (7 ) Asset Management 27 7 29 9 Total Net Restructuring Charges 50 182 33 181 Net restructuring expense by type Three months ended Six months ended in € m. Jun 30, 2019 Jun 30, 2018 Jun 30, 2019 Jun 30, 2018 Restructuring - Staff related 50 181 34 184 Of which: Termination Payments 42 90 23 85 Retention Acceleration 8 86 11 94 Social Security 0 5 0 5 Restructuring - Non Staff related 1 (0 ) 1 (1 ) (3 ) Total net restructuring Charges 50 182 33 181 1 Contract costs, mainly related to real estate and technology. Provisions for restructuring amounted to € 499 million and € 530 million as of June 3 0 , 201 9 and March 31 , 201 9 , respectively. The majority of the current provisions for restructuring should be utilized in the next two years. During the three months end ed June 3 0 , 201 9 , 302 full-time equivalent staff were reduced as part of our restructur i ng program . These reductions were identified within : Three months Six months Jun 30, 2019 Jun 30, 2019 Corporate & Investment Bank 132 159 Private & Commercial Bank 23 140 Asset Management 49 60 Infrastructure 99 202 Total full-time equivalent staff 302 561 |
Effective Tax Rate
Effective Tax Rate | 6 Months Ended |
Jun. 30, 2019 | |
Effective Tax Rate [Abstract] | |
Disclosure of effective tax rate [text block] | Effective Tax Rate 201 9 to 201 8 Three Months Comparison Income tax expense in the current quarter was € 2.2 billion (second quarter of 2018: € 310 million) and was mainly impacted by changes in the recognition and measurement of deferred tax assets and no n deductible goodwill impairments. The prior year’s quarter effective tax rate of 44 % was mainly impacted by non-tax deductible expenses. 201 9 to 201 8 Six Months Comparison Income tax expense in the first six months of 2019 was € 2 .3 billion (first six months of 2018: € 622 million) and was mainly impacted by changes in the recognition and measurement of deferred tax assets and non deductible goodwill impairments . The effective tax rate of 54 % for the comparative period in 2018 was mainly impacted by non deductible expenses and tax effects related to share based payments . |
Financial Instruments carried a
Financial Instruments carried at Fair Value | 6 Months Ended |
Jun. 30, 2019 | |
Financial Instruments carried at Fair Value [Abstract] | |
Disclosure of fair value of financial instruments [text block] | Financial Instruments carried at Fair Value Fair Value Hierarchy The financial instruments carried at fair value have been categorized under the three levels of the IFRS fair value hierarchy as follows: Level 1 - Instruments valued using quoted prices in active markets are instruments where the fair value can be determined directly from prices which are quoted in active, liquid markets and where the instrument observed in the market is representative of that being priced in the Group’s inventory. These include: government bonds, exchange-traded derivatives and equity securities traded on active, liquid exchanges. Level 2 - Instruments valued with valuation techniques using observable market data are instruments where the fair value can be determined by reference to similar instruments trading in active markets, or where a technique is used to derive the valuation but where all inputs to that technique are observable. These include: many OTC derivatives; many investment-grade listed credit bonds; some CDS; many collateralized debt obligations (CDO); and many less-liquid equities. Level 3 - Instruments valued using valuation techniques using market data which is not directly observable are instruments where the fair value cannot be determined directly by reference to market-observable information, and some other pricing technique must be employed. Instruments classified in this category have an element which is unobservable and which has a significant impact on the fair value. These include: more-complex OTC derivatives; distressed debt; highly-structured bonds; illiquid asset-backed securities (ABS); illiquid CDO’s (cash and synthetic); monoline exposures; some private equity placements; many commercial real estate (CRE) loans; illiquid loans; and some municipal bonds. Carrying value of the financial instruments held at fair value 1 Jun 30, 2019 Dec 31, 2018 in € m. Quoted Valuation Valuation Quoted Valuation Valuation Financial assets held at fair value: Trading assets 86,868 66,376 9,365 75,415 67,560 9,763 Trading securities 86,715 59,856 4,002 75,210 61,424 4,086 Other trading assets 152 6,520 5,362 205 6,136 5,676 Positive market values from derivative financial instruments 8,001 349,052 8,955 10,140 301,609 8,309 Non-trading financial assets mandatory at fair value through profit or loss 4,235 92,034 5,101 8,288 86,090 6,066 Financial assets designated at fair value through profit or loss 0 0 35 104 0 0 Financial assets at fair value through other comprehensive income 33,912 15,603 444 32,517 18,397 268 Other financial assets at fair value 3 3,166 2 254 42 2,779 2 207 Total financial assets held at fair value 133,019 526,230 24,153 126,505 476,435 24,614 Financial liabilities held at fair value: Trading liabilities 41,615 16,763 17 42,548 17,361 15 Trading securities 41,608 16,480 0 42,547 17,082 0 Other trading liabilities 7 283 16 1 279 15 Negative market values from derivative financial instruments 10,103 328,985 7,960 9,638 285,561 6,289 Financial liabilities designated at fair value through profit or loss 0 49,303 2,514 119 51,617 2,021 Investment contract liabilities 0 557 0 0 512 0 Other financial liabilities at fair value 469 2,203 2 (378 ) 3 201 2,658 2 (611 ) 3 Total financial liabilities held at fair value 52,186 397,812 10,113 52,505 357,709 7,714 1 Amounts in this table are generally presented on a gross basis, in line with the Group’s accounting policy regarding offsetting of financial instruments, as described in Note 1 "Significant Accounting Policies and Critical Accounting Estimates" of the Annual Report 201 8 . 2 Predominantly relates to derivatives qualifying for hedge accounting. 3 Relates to derivatives which are embedded in contracts where the host contract is held at amortized cost but for which the embedded derivative is separated. The separated embedded derivatives may have a positive or a negative fair value but have been presented in this table to be consistent with the classification of the host contract. The separated embedded derivatives are held at fair value on a recurring basis and have been split between the fair value hierarchy classifications. During the second quarter of 2019, the Group implemented revisions to the fair value hierarchy classification framework applicable to financial instruments carried at fair value under IFRS 13. Under the revised framework, valuation inputs are considered observable where they are directly supported by current market transactions or quoted levels. The significance of unobservable market data inputs to the valuation of a trade is determined via sensitivity testing. Previously, the approach to assess observability included the use of consensus pricing data which was back-tested against market transactions, and the scope of sensitivity testing was less granular than that applied under the revised approach. The impact of these changes was the net movement of approximately € 1.2 billion of financial assets held at fair value into Level 2 from Level 3, and the net movement of approximately € 0.7 billion of financial liabilities held at fair value into Level 3 from Level 2. Valuation Techniques The following is an explanation of the valuation techniques used in establishing the fair value of the different types of financial instruments that the Group trades. Sovereign, Quasi-sovereign and Corporate Debt and Equity Securities - Where there are no recent transactions then fair value may be determined from the last market price adjusted for all changes in risks and information since that date. Where a close proxy instrument is quoted in an active market then fair value is determined by adjusting the proxy value for differences in the risk profile of the instruments. Where close proxies are not available then fair value is estimated using more complex modeling techniques. These techniques include discounted cash flow models using current market rates for credit, interest, liquidity and other risks. For equity securities modeling techniques may also include those based on earnings multiples. Mortgage- and Other Asset-Backed Securities (MBS/ABS) include residential and commercial MBS and other ABS including CDOs. ABS have specific characteristics as they have different underlying assets and the issuing entities have different capital structures. The complexity increases further where the underlying assets are themselves ABS, as is the case with many of the CDO instruments. Where no reliable external pricing is available, ABS are valued, where applicable, using either relative value analysis which is performed based on similar transactions observable in the market, or industry standard valuation models incorporating available observable inputs. The industry standard external models calculate principal and interest payments for a given deal based on assumptions that can be independently price tested. The inputs include prepayment speeds, loss assumptions (timing and severity) and a discount rate (spread, yield or discount margin). These inputs/assumptions are derived from actual transactions, external market research and market indices where appropriate. Loans - For certain loans fair value may be determined from the market price on a recently occurring transaction adjusted for all changes in risks and information since that transaction date. Where there are no recent market transactions then broker quotes, consensus pricing, proxy instruments or discounted cash flow models are used to determine fair value. Discounted cash flow models incorporate parameter inputs for credit risk, interest rate risk, foreign exchange risk, loss given default estimates and amounts utilized given default, as appropriate. Credit risk, loss given default and utilization given default parameters are determined using information from the loan or CDS markets, where available and appropriate. Leveraged loans can have transaction-specific characteristics which can limit the relevance of market-observed transactions. Where similar transactions exist for which observable quotes are available from external pricing services then this information is used with appropriate adjustments to reflect the transaction differences. When no similar transactions exist, a discounted cash flow valuation technique is used with credit spreads derived from the appropriate leveraged loan index, incorporating the industry classification, subordination of the loan, and any other relevant information on the loan and loan counterparty. Over-The-Counter Derivative Financial Instruments - Market standard transactions in liquid trading markets, such as interest rate swaps, foreign exchange forward and option contracts in G7 currencies, and equity swap and option contracts on listed securities or indices are valued using market standard models and quoted parameter inputs. Parameter inputs are obtained from pricing services, consensus pricing ser vices and recently occurring transactions in active markets wherever possible. More complex instruments are modeled using more sophisticated modeling techniques specific for the instrument and are calibrated to available market prices. Where the model output value does not calibrate to a relevant market reference then valuation adjustments are made to the model output value to adjust for any difference. In less active markets, data is obtained from less frequent market transactions, broker quotes and through extrapolation and interpolation techniques. Where observable prices or inputs are not available, management judgment is required to determine fair values by assessing other relevant sources of information such as historical data, fundamental analysis of the economics of the transaction and proxy information from similar transactions. Financial Liabilities Designated at Fair Value through Profit or Loss under the Fair Value Option - The fair value of financial liabilities designated at fair value through profit or loss under the fair value option incorporates all market risk factors including a measure of the Group’s credit risk relevant for that financial liability. The financial liabilities include structured note issuances, structured deposits, and other structured securities issued by consolidated vehicles, which may not be quoted in an active market. The fair value of these financial liabilities is determined by discounting the contractual cash flows using the relevant credit-adjusted yield curve. The market risk parameters are valued consistently to similar instruments held as assets, for example, any derivatives embedded within the structured notes are valued using the same methodology discussed in the "Over-The-Counter Derivative Financial Instruments" section above. Where the financial liabilities designated at fair value through profit or loss under the fair value option are collateralized, such as securities loaned and securities sold under repurchase agreements, the credit enhancement is factored into the fair valuation of the liability. Investment Contract Liabilities - Assets which are linked to the investment contract liabilities are owned by the Group. The investment contract obliges the Group to use these assets to settle these liabilities. Therefore, the fair value of investment contract liabilities is determined by the fair value of the underlying assets (i.e. amount payable on surrender of the policies). Analysis of Financial Instruments with Fair Value Derived from Valuation Some of the instruments in Level 3 of the fair value hierarchy have identical or similar offsetting exposures to the unobservable input . However, according to IFRS they are required to be presented as gross assets and liabilities. Trading Securities - Certain illiquid emerging market corporate bonds and illiquid highly structured corporate bonds are included in this level of the hierarchy. In addition, some of the holdings of notes issued by securitization entities, commercial and residential MBS, collateralized debt obligation securities and other ABS are reported here. The decrease in the period was mainly due to sales and settlements offset by purchase, transfers between level 2 and 3 and gains. Positive and Negative Market Values from Derivative Instruments categorized in this level of the fair value hierarchy are valued based on one or more significant unobservable parameters. The unobservable parameters may include certain correlations, certain longer-term volatilities, certain prepayment rates, credit spreads and other transaction-specific parameters. Level 3 derivatives include certain options where the volatility is unobservable; certain basket options in which the correlations between the referenced underlying assets are unobservable; longer-term interest rate option derivatives; multi-currency foreign exchange derivatives; and certain credit default swaps for which the credit spread is not observable. The increase in the period is driven by gains and consolidation offset by settlements and transfers between level 2 and 3. Other Trading Instruments classified in L evel 3 of the fair value hierarchy mainly consist of traded loans valued using valuation models based on one or more significant unobservable parameters. Level 3 loans comprise illiquid leveraged loans and illiquid residential and commercial mortgage loans. The decrease in the period refers to sales, settlements, transfers between level 2 and 3 and deconsolidation offset by purchases, issuances and gains. Non trading financial Assets mandatory at Fair Value through Profit or Loss classified in Level 3 of fair value hierarchy consist of financial instruments included in other business model originated, acquired principally for the purpose of selling or repurchasing them in near future and unlisted equity instruments where there is no close proxy and the market is very illiquid. Additionally this classification includes any instrument for which the contractual cash flow characteristics are not SPPI. The decrease in the period is driven by sales, settlements and transfers between level 2 and 3 offset by purchases, issuances and gains. Financial Assets/Liabilities designated at Fair Value through Profit or Loss - Certain corporate loans and structured liabilities which were designated at fair value through profit or loss under the fair value option are categorized in this level of the fair value hierarchy. The corporate loans are valued using valuation techniques which incorporate observable credit spreads, recovery rates and unobservable utilization parameters. Revolving loan facilities are reported in the third level of the hierarchy because the utilization in the event of the default parameter is significant and unobservable. In addition, certain hybrid debt issuances designated at fair value through profit or loss containing embedded derivatives are valued based on significant unobservable parameters. These unobservable parameters include single stock volatility correlations. The increase in assets during the period are driven by purchases. The increase in liabilities during the period are driven by issuances, losses and transfers between Level 2 and Level 3 offset by settlements and deconsolidation. Financial assets at fair value through other comprehensive income include non-performing loan portfolios where there is no trading intent and the market is very illiquid. The increase in the period is driven by purchases and gains offset by transfers between level 2 and 3. Reconciliation of financial instruments classified in Level 3 Jun 30, 2019 in € m. Balance, Changes Total 1 Purchases Sales Issu- 2 Settle- 3 Transfers 4 Transfers 4 Balance, Financial assets Trading securities 4,086 0 127 1,168 (1,157 ) 0 (240 ) 964 (946 ) 4,002 Positive market 8,309 20 1,228 0 0 0 (191 ) 1,910 (2,321 ) 8,955 Other trading 5,676 (75 ) 126 292 (782 ) 924 (649 ) 428 (579 ) 5,362 Non-trading financial assets mandatory at fair value through profit or loss 6,066 (0 ) 101 1,071 (201 ) 348 (1,202 ) 734 (1,816 ) 5,101 Financial assets 0 0 0 34 0 0 0 0 0 35 Financial assets at fair value through other comprehensive income 268 0 8 5 210 (0 ) 0 (0 ) 99 (142 ) 444 Other financial 207 0 0 0 0 0 0 0 47 254 Total financial assets 24,614 (55 ) 1,590 6,7 2,776 (2,140 ) 1,272 (2,282 ) 4,135 (5,757 ) 24,153 Financial liabilities Trading securities 0 0 0 0 0 0 0 0 0 0 Negative market 6,289 (0 ) 1,322 0 0 0 (156 ) 1,961 (1,457 ) 7,960 Other trading 15 0 (1 ) 0 0 0 0 2 0 16 Financial liabilities 2,021 (77 ) 108 0 0 271 (319 ) 571 (60 ) 2,514 Other financial (611 ) 0 222 0 0 0 23 (8 ) (3 ) (378 ) Total financial 7,714 (77 ) 1,652 6,7 0 0 271 (453 ) 2,525 (1,519 ) 10,113 1 Total gains and losses predominantly relate to net gains (losses) on financial assets/liabilities at fair value through profit or loss reported in the consolidated statement of income. The balance also includes net gains (losses) on financial assets at fair value through other comprehensive income reported in the consolidated statement of income and unrealized net gains (losses) on financial assets at fair value through other comprehensive income and exchange rate changes reported in other comprehensive income, net of tax. Further, certain instruments are hedged with instruments in Level 1 or L evel 2 but the table above does not include the gains and losses on these hedging instruments. Additionally, both observable and unobservable parameters may be used to determine the fair value of a n instrument classified within L evel 3 of the fair value hierarchy; the gains and losses presented below are attributable to movements in both the observable and unobservable parameters. 2 Issuances relate to the cash amount received on the issuance of a liability and the cash amount paid on the primary issuance of a loan to a borrower. 3 Settlements represent cash flows to settle the asset or liability. For debt and loan instruments this includes principal on maturity, principal amortizations and principal repayments. For derivatives all cash flows are presented in settlements. 4 Tra nsfers in and transfers out of L evel 3 are related to changes in observability of input parameters. During the period they are recorded at their fair value at the beginning of year. Fo r instruments transferred into L evel 3 the table shows the gains and losses and cash flows on the instruments as if they had been transferred at the beginning of the year. Similarly for instruments transferred out of L evel 3 the table does not show any gains or losses or cash flows on the instruments during the period since the table is presented as if they have been transferred out at the beginning of the year. 5 Total gains and losses on financial assets mandatory at fair value through OCI include a gain of € 6 million recognized in other comprehensive income. 6 This amount includes the effect of exchange rate changes. For total financial assets held at fair v alue this effect is a gain of € 42 million and for total financial liabilities held at fair value this is a loss of € 6 million . The effect of exchange rate changes is reported in accumulated other comprehensive income, net of tax. 7 For assets, positive balances represent gains, negative balances represent losses. For liabilities, positive balances represent losses, negative balances represent gains. Jun 30, 2018 in € m. Balance, Changes in Total 1 Purchases Sales Issu- 2 Settle- 3 Transfers 4 Transfers 4 Balance, Financial assets Trading securities 4,148 0 19 1,228 (1,437 ) 0 (318 ) 1,087 (835 ) 3,891 Positive market 7,340 0 471 0 0 0 9 1,521 (1,371 ) 7,970 Other trading 4,426 0 117 606 (921 ) 940 (402 ) 603 (234 ) 5,136 Non-trading financial assets mandatory at fair value through profit or loss 4,573 0 207 1,413 (414 ) 1 (780 ) 247 (348 ) 4,899 Financial assets 91 0 (49 ) 0 0 0 (23 ) 0 (2 ) 17 Financial assets at fair value through other comprehensive income 231 0 (2 ) 5 71 (25 ) 0 (7 ) 3 (165 ) 106 Other financial 47 0 (3 ) 0 0 0 (9 ) 212 (32 ) 216 Total financial assets 20,855 0 761 6,7 3,319 (2,796 ) 941 (1,530 ) 3,672 (2,987 ) 22,235 Financial liabilities Trading securities 2 0 1 0 0 0 0 120 (1 ) 121 Negative market 5,992 0 407 0 0 0 23 1,073 (1,182 ) 6,312 Other trading 0 0 0 0 0 0 0 0 0 0 Financial liabilities 1,444 0 (187 ) 0 0 309 (107 ) 17 (146 ) 1,329 Other financial (298 ) 0 (204 ) 0 0 0 4 60 (39 ) (476 ) Total financial 7,139 0 16 6,7 0 0 309 (80 ) 1,269 (1,368 ) 7,286 1 Total gains and losses predominantly relate to net gains (losses) on financial assets/liabilities at fair value through profit or loss reported in the consolidated statement of income. The balance also includes net gains (losses) on financial assets available for sale reported in the consolidated statement of income and unrealized net gains (losses) on financial assets available for sale and exchange rate changes reported in other comprehensive income, net of tax. Further, certain instruments are hedge d with instruments in Level 1 or Level 2 but the table above does not include the gains and losses on these hedging instruments. Additionally, both observable and unobservable parameters may be used to determine the fair value of an instrument classified w ithin Level 3 of the fair value hierarchy; the gains and losses presented below are attributable to movements in both the observable and unobservable parameters. 2 Issuances relate to the cash amount received on the issuance of a liability and the cash amount paid on the primary issuance of a loan to a borrower. 3 Settlements represent cash flows to settle the asset or liability. For debt and loan instruments this includes principal on maturity, principal amortizations and principal repayments. For derivatives all cash flows are presented in settlements. 4 Tra nsfers in and transfers out of L evel 3 are related to changes in observability of input parameters. During the period they are recorded at their fair value at the beginning of year. For instruments tra nsferred into L evel 3 the table shows the gains and losses and cash flows on the instruments as if they had been transferred at the beginning of the year. Similarly for instruments transferred out of L evel 3 the table does not show any gains or losses or cash flows on the instruments during the period since the table is presented as if they have been transferred out at the beginning of the year. 5 Total gains and losses on financial assets mandatory at fair value through OCI include a loss of € 6 million recognized in other comprehensive income, net of tax and a loss of € 3 million recognized in the income statement presented in net gains (losses). 6 This amount includes the effect of exchange rate changes. For total financial assets held at fair valu e this effect is a gain of € 73 million and for total financial liabilities held at fair value this is a loss of € 19 million . The effect of exchange rate changes is reported in accumulated other comprehensive income, net of tax. 7 For assets, positive balances represent gains, negative balances represent losses. For liabilities, positive balances represent losses, negative balances represent gains. Sensitivity Analysis of Unobservable Parameters Where the value of financial instruments is dependent on unobservable parameter inputs, the precise level for these parameters at the balance sheet date might be drawn from a range of reasonably possible alternatives. In preparing the financial statements, appropriate levels for these unobservable input parameters are chosen so that they are consistent with prevailing market evidence and in line with the Group’s approach to valuation control detailed above. Were the Group to have marked the financial instruments concerned using parameter values drawn from the extremes of the ranges of reasonably possible alternatives , then as of June 30, 2019 it could have increased fair value by as much as € 1.5 billion or decreased fair value by as much as € 963 million . As of December 31, 2018 it could have increased fair value by as much as € 1.6 billion or decreased fair value by as much as € 1.0 billion . The changes in sensitive amounts from December 31, 2018 to June 30, 2019 were a decrease in positive fair value movement of € 137 million, and a decrease in negative fair value movement of € 84 million. The decrease in positive and negative fair value movements are largely in line with the decrease in Group Level 3 assets in the period, with Level 3 assets decreasing from € 24.6 bil lion at December 31 2018 to € 24 . 2 billion at June 30 2019 . These moves represent a percentage decrease of approximately 2 %. The change in positive fair value movements from December 31, 2018 to June 30, 2019 represents 8 % decrease and the change in negative fair value movements represents 8 % decrease. These decreases are proportionally larger than the 2 % de crease in Group Level 3 assets primarily due to idiosyncratic factors. Our sensitivity calculation of unobservable parameters for Level 3 aligns to the approach used to assess valuation uncertainty for Prudent Valuation purposes. Prudent Valuation is a capital requirement for assets held at fair value. It provides a mechani sm for quantifying and capitaliz ing valuation uncertainty in accordance with the European Commission Delegated Regulation (EU) 2016/101, which supplements Article 34 of Regulation (EU) No. 2019/876 (CRR), requiring institutions to apply a deduction from CET 1 the amount of any additional value adjustments on all assets measured at fair value calculated in accordance with Article 105(14). This utiliz es exit price analysi s performed for the relevant as sets and liabilities in the Prudent Valuation assessment. The downside sensitivity may be limited in some cases where the fair value is already demonstrably prudent. This disclosure is intended to illustrate the potential impact of the relative uncertainty in the fair value of financial instruments for which valuation is dependent on unobservable input parameters. However, it is unlikely in practice that all unobservable parameters would be simultaneously at the extremes of their ranges of reasonably possible alternatives. Hence, the estimates disclosed above are likely to be greater than the true uncertainty in fair value at the balance sheet date. Furthermore, the disclosure is neither predictive nor indicative of future movements in fair value. For many of the financial instruments considered here, in particular derivatives, unobservable input parameters represent only a subset of the parameters required to price the financial instrument, the remainder being observable. Hence for these instruments the overall impact of moving the unobservable input parameters to the extremes of their ranges might be relatively small compared with the total fair value of the financial instrument. For other instruments, fair value is determined based on the price of the entire instrument, for example, by adjusting the fair value of a reasonable proxy instrument. In addition, all financial instruments are already carried at fair values which are inclusive of valuation adjustments for the cost to close out that instrument and hence already factor in uncertainty as it reflects itself in market pricing. Any negative impact of uncertainty calculated within this disclosure, then, will be over and above that already included in the fair value contained in the financial statements. Breakdown of the sensitivity analysis by type of instrument 1 Jun 30, 2019 Dec 31, 2018 in € m. Positive fair value Negative fair value Positive fair value Negative fair value Securities: Debt securities 167 102 179 118 Commercial mortgage-backed securities 3 2 5 4 Mortgage and other asset-backed securities 43 43 38 37 Corporate, sovereign and other debt securities 120 57 136 77 Equity securities 65 78 84 67 Derivatives: Credit 131 108 151 116 Equity 216 188 257 207 Interest related 264 146 346 206 Foreign exchange 44 38 49 26 Other 135 84 106 89 Loans: Loans 489 217 475 219 Other 0 0 0 0 Total 1,509 963 1,647 1,046 1 Where the e xposure to an unobservable p arameter is offset across different instruments then only the net impact is disclosed in the table. Quantitative Information about the Sensitivity of Significant Unobservable The behavior of the unobservable parameters on Level 3 fair value measurement is not necessarily independent, and dynamic relationships often exist between the other unobservable parameters and the observable parameters. Such relationships, where material to the fair value of a given instrument, are explicitly captured via correlation parameters, or are otherwise controlled via pricing models or valuation techniques. Frequently, where a valuation technique utilizes more than one input, the choice of a certain input will bound the range of possible values for other inputs. In addition, broader market factors (such as interest rates, equity, credit or commodity indices or foreign exchange rates) can also have effects. The range of values shown below represents the highest and lowest inputs used to value the significant exposures within Level 3. The diversity of financial instruments that make up the disclosure is significant and therefore the ranges of certain parameters can be large. For example, the range of credit spreads on mortgage backed securities represents performing, more liquid positions with lower spreads than the less liquid, non-performing positions which will have higher credit spreads. As Level 3 contains the less liquid fair value instruments, the wide ranges of parameters seen is to be expected, as there is a high degree of pricing differentiation within each exposure type to capture the relevant market dynamics. There follows a brief description of each of the principle parameter types, along with a commentary on significant interrelationships between them. Credit Parameters are used to assess the creditworthiness of an exposure, by enabling the probability of default and resulting losses of a default to be represented. The credit spread is the primary reflection of creditworthiness, and represents the premium or yield return above the benchmark reference instrument (typically LIBOR, or relevant Treasury Instrument, depending upon the asset being assessed), that a bond holder would require to allow for the credit quality difference between that entity and the reference benchmark. Higher credit spreads will indicate lower credit quality, and lead to a lower value for a given bond, or other loan-asset that is to be repaid to the Bank by the borrower. Recovery Rates represent an estimate of the amount a lender would receive in the case of a default of a loan, or a bond holder would receive in the case of default of the bond. Higher recovery rates will give a higher valuation for a given bond position, if other parameters are held constant. Constant Default Rate (CDR) and Constant Prepayment Rate (CPR) allow more complex loan and debt assets to be assessed, as these parameters estimate the ongoing defaults arising on scheduled repayments and coupons, or whether the borrower is making additional (usually voluntary) prepayments. These parameters are particularly relevant when forming a fair value opinion for mortgage or other types of lending, where repayments are delivered by the borrower through time, or where the borrower may pre-pay the loan (seen for example in some residential mortgages). Higher CDR will lead to lower valuation of a given loan or mortgage as the lender will ultimately receive less cash. Interest rates, credit spreads, inflation rates, foreign exchange rates and equity prices are referenced in some option instruments, or other complex derivatives, where the payoff a holder of the derivative will receive is dependent upon the behavior of these underlying references through time. Volatility parameters describe key attributes of option behavior by enabling the variability of returns of the underlying instrument to be assessed. This volatility is a measure of probability, with higher volatilities denoting higher probabilities of a particular outcome occurring. The underlying references (interest rates, credit spreads etc.) have an effect on the valuation of options, by describing the size of the return that can be expected from the option. Therefore the value of a given option is dependent upon the value of the underlying instrument, and the volatility of that instrument, representing the size of the payoff, and the probability of that payoff occurring. Where volatilities are high, the option holder will see a higher option value as there is greater probability of positive returns. A higher option value will also occur where the payoff described by the option is significant. Correlations are us |
Fair Value of Financial Instrum
Fair Value of Financial Instruments not carried at Fair Value | 6 Months Ended |
Jun. 30, 2019 | |
Fair Value of Financial Instruments not carried at Fair Value [Abstract] | |
Disclosure of Fair Value of Financial Instruments not carried at Fair Value [text block] | Fair Value of Financial Instruments not carried at Fair Value This section should be read in conjunction with Note 14 "Fair Value of Financial Instruments not carried at Fair Value" of the Group’s Annual Report 2018. The valuation techniques used to establish fair value for the Group’s financial instruments which are not carried at fair value in the balance sheet are consistent with those outlined in Note 13 "Financial Instruments carried at Fair Value" of the Group’s Annual Report 2018. Other financial instruments not carried at fair value are not managed on a fair value basis, for example, retail loans and deposits and credit facilities extended to corporate clients. For these instruments fair values are calculated for disclosure purposes only and do not impact the balance sheet or income statement. Additionally, since the instruments generally do not trade there is significant management judgment required to determine these fair values. Estimated fair value of financial instruments not carried at fair value on the balance sheet 1 Jun 30, 2019 Dec 31, 2018 in € m. Carrying value Fair value Carrying value Fair value Financial assets: Cash and central bank balances 160,982 160,982 188,731 188,731 Interbank balances (w/o central banks) 10,144 10,144 8,881 8,881 Central bank funds sold and securities purchased under resale agreements 9,126 9,127 8,222 8,223 Securities borrowed 647 647 3,396 3,396 Loans 414,889 421,562 400,297 395,900 Other financial assets 125,855 126,183 80,089 80,193 Financial liabilities: Deposits 576,506 577,033 564,405 564,637 Central bank funds purchased and securities sold under repurchase 7,532 7,533 4,867 4,867 Securities loaned 2,992 2,992 3,359 3,359 Other short-term borrowings 12,418 12,420 14,158 14,159 Other financial liabilities 136,495 136,495 100,683 100,683 Long-term debt 147,629 145,784 152,083 149,128 Trust preferred securities 3,269 3,294 3,168 3,114 1 Amounts generally presented on a gross basis, in line with the Group’s accounting policy regarding offsetting of financial instruments as described in Note 1 "Significant Accounting Policies and Critical Accounting Estimates" of the Group’s Annual Report 2018. |
Allowance for Credit Losses
Allowance for Credit Losses | 6 Months Ended |
Jun. 30, 2019 | |
Allowance for Credit Losses [Abstract] | |
Disclosure of allowance for credit losses [text block] | Allowance for c redit l osses Development of allowance for credit losses for financial assets at amortized cost Six months ended Jun 30, 2019 Allowance for credit losses 3 in € m. Stage 1 Stage 2 Stage 3 Stage 3 POCI Total Balance, beginning of year 509 501 3,247 3 4,259 Movements in financial assets including new business (13 ) 110 171 23 291 Transfers due to changes in creditworthiness 64 (69 ) 5 N/M 0 Changes due to modifications that did not result in N/M N/M N/M N/M N/M Changes in models 0 0 0 0 0 Financial assets that have been derecognized during the period² 0 0 (463 ) 0 (463 ) Recovery of written off amounts 0 0 41 0 41 Foreign exchange and other changes (4 ) (8 ) (5 ) 12 (5 ) Balance, end of reporting period 556 534 2,996 37 4,123 Provision for credit losses excluding country risk 1 52 41 176 23 291 1 Movements in financial assets including new business, transfers due to changes in creditworthiness and changes in models add up to Provision for Credit Losses excluding country risk. 2 This position includes charge offs of allowance for credit losses. 3 Allowance for credit losses does not include allowance for country risk amounting to € 3 million as of June 30, 2019 . Six months ended Jun 30, 2018 Allowance for credit losses 3 in € m. Stage 1 Stage 2 Stage 3 Stage 3 POCI Total Balance, beginning of year 462 494 3,638 3 4,596 Movements in financial assets including new business (88 ) 152 126 (2 ) 188 Transfers due to changes in creditworthiness 110 (122 ) 12 N/M 0 Changes due to modifications that did not result in N/M N/M N/M N/M N/M Changes in models 0 0 0 0 0 Financial assets that have been derecognized during the period² 0 0 (362 ) 0 (362 ) Recovery of written off amounts 0 0 110 0 110 Foreign exchange and other changes (24 ) (19 ) (29 ) 8 (64 ) Balance, end of reporting period 460 504 3,495 9 4,468 Provision for credit losses excluding country risk 1 22 30 138 (2 ) 188 1 The above table breaks down the impact on provision for credit losses from movements in financial assets including new business, transfers due to changes in creditworthiness and changes in models. 2 This position includes charge offs of allowance for credit losses. 3 Allowance for credit losses does not include allowance for country risk amounting to € 5 million as of June 30, 2018 . Development of allowance for credit losses for off-balance sheet positions Six months ended Jun 30, 2019 Allowance for credit losses 2 in € m. Stage 1 Stage 2 Stage 3 Stage 3 POCI Total Balance, beginning of year 132 73 84 0 289 Movements including new business 2 6 3 0 12 Transfers due to changes in creditworthiness 4 (7 ) 3 N/M 0 Changes in models 0 0 0 0 0 Foreign exchange and other changes 0 0 (0 ) 0 1 Balance, end of reporting period 139 73 90 0 301 Provision for credit losses excluding country risk 1 6 (0 ) 5 0 12 1 The above table breaks down the impact on provision for credit losses from movements in financial assets including new business, transfers due to changes in creditworthiness and changes in models. 2 Allowance for credit losses does not include allowance for country risk amounting to € 5 million as of June 30, 2019 . Six months ended Jun 30, 2018 Allowance for credit losses 2 in € m. Stage 1 Stage 2 Stage 3 Stage 3 POCI Total Balance, beginning of year 117 36 119 0 272 Movements including new business (16 ) 11 2 0 (4 ) Transfers due to changes in creditworthiness 9 (9 ) (0 ) N/M 0 Changes in models 0 0 0 0 0 Foreign exchange and other changes 11 12 16 0 39 Balance, end of reporting period 121 49 136 0 307 Provision for credit losses excluding country risk 1 (7 ) 1 2 0 (4 ) 1 The above table breaks down the impact on provision for credit losses from movements in financial assets including new business, transfers due to changes in creditworthiness and changes in models. 2 Allowance for credit losses does not include allowance for country risk amounting to € 4 million as of June 30, 2018 . |
Provisions
Provisions | 6 Months Ended |
Jun. 30, 2019 | |
Provisions [Abstract] | |
Disclosure of provisions [text block] | Provisions As of June 3 0 , 2019, the Group recognized € 2.5 billion (December 31, 2018: € 2.7 billion) in provisions on its balance sheet. These relate to operational risk, civil litigation, regulatory enforcement, restructuring, allowances for credit related off-balance sheet positions and other matters , including bank levies . The consolidated financial statements contained in our Annual Report 2018 describe our provisions as of December 31, 2018, in Note 21 "Allowance for Credit Losses", and Note 29 "Provisions". Civil litigation and regulatory enforcement matters Within provisions as of June 30, 2019 , the Group recognized provisions relating to civil litigation of € 0.7 billion (December 31, 2018: € 0.7 billion ) and provisions relating to regulatory enforcement matters of € 0.5 billion (December 31, 2018 : € 0.5 billion ). For some matters for which the Group believes an outflow of funds is probable, no provisions were recognized as the Group could not reliably estimate the amount of the potential outflow. For the matters for which a reliable estimate can be made, the Group currently estimates that, as of June 30, 2019, the aggregate future loss of which the possibility is more than remote but less than probable is approximately € 2.0 billion for civil litigation matters (December 31, 2018: € 2.5 billion ) and € 0.2 billion for regulatory enforcement matters (December 31, 2018: € 0.2 billion ). These figures include matters where the Group’s potential liability is joint and several and where the Group expects any such liability to be paid by a third party. The decrease as of the end of the current period in comparison with the prior period is largely attributable to a court order in the appraisal proceedings (Spruchverfahren) described under the heading "Further Proceedings Relating to the Postbank Takeover" in Note 29 "Provisions" to the consolidated financial statements contained in our Annual Report 2018. In particular, the Regional Court of Cologne held that it is not relevant whether Deutsche Bank was obligated to make a mandatory takeover offer for all Postbank shares prior to its 2010 voluntary takeover when determining the adequate cash compensation in the appraisal proceedings. For other significant civil litigation and regulatory enforcement matters, the Group believes the possibility of an outflow of funds is more than remote but less than probable but the amount is not reliably estimable, and accordingly such matters are not included in the contingent liability estimates. For still other significant civil litigation and regulatory enforcement matters, the Group believes the possibility of an outflow of funds is remote and therefore has neither recognized a provision nor included them in the contingent liability estimates. Note 29 "Provisions" to the consolidated financial statements contained in our Annual Report 2018 sets forth, in the section thereof captioned "Current Individual Proceedings", descriptions as of the date of such consolidated financial statements of civil litigation and regulatory enforcement matters or groups of matters for which the Group has taken material provisions, or for which there are material contingent liabilities that are more than remote, or for which there is the possibility of material business or reputational risk; similar matters are grouped together and some matters consist of a number of proceedings or claims. The disclosed matters include matters for which the possibility of a loss is more than remote but for which the Group cannot reliably estimate the possible loss. |
Long-Term Debt
Long-Term Debt | 6 Months Ended |
Jun. 30, 2019 | |
Long-Term Debt and Trust Preferred Securities [Abstract] | |
Disclosure of Long-Term Debt [text block] | Long-Term Debt in € m. Jun 30, 2019 Dec 31, 2018 Senior debt: Bonds and notes Fixed rate 77,607 77,894 Floating rate 25,254 30,495 Subordinated debt: Bonds and notes Fixed rate 5,510 5,297 Floating rate 1,390 1,420 Other 37,868 36,977 Total long-term debt 147,629 152,083 |
Shares Issued and Outstanding
Shares Issued and Outstanding | 6 Months Ended |
Jun. 30, 2019 | |
Shares Issued and Outstanding [Abstract] | |
Disclosure of Shares Issued and Outstanding [text block] | Shares Issued and Outstanding in million Jun 30, 2019 Dec 31, 2018 Shares issued 2,066.8 2,066.8 Shares in treasury 1.8 1.3 Of which: Buyback 1.6 1.2 Other 0.2 0.2 Shares outstanding 2,064.9 2,065.4 |
Credit related Commitments and
Credit related Commitments and Contingent Liabilities | 6 Months Ended |
Jun. 30, 2019 | |
Credit related Commitments and Contingent Liabilities [Abstract] | |
Disclosure of commitments and contingent liabilities [text block] | Credit related Commitments and Contingent Liabilities L ending commitments and lending related contingent liabilities In the normal course of business the Group regularly enters into irrevocable lending commitments, including fronting commitments as well as contingent liabilities consisting of financial and performance guarantees, standby letters of credit and indemnity agreements on behalf of its customers. Under these contracts the Group is required to perform under an obligation agreement or to make payments to the beneficiary based on third party’s failure to meet its obligations. For these instruments it is not known to the Group in detail if, when and to what extent claims will be made. In the event that the Group has to pay out cash in respect of its fronting commitments, the Group would immediately seek reimbursement from the other syndicate lenders. The Group considers all the above instruments in monitoring the credit exposure and may require collateral to mitigate inherent credit risk. If the credit risk monitoring provides sufficient perception about a loss from an expected claim, a provision is established and recorded on the balance sheet. In the normal course of business the Group also regularly enters into revocable lending commitments . For these instruments it is not known to the Group in detail if, when and to what extent claims will be made. However, as they are revocable they can be cancelled at any point of time. The following table shows the Group’s revocable lending commitments , irrevocable lending commitments and lending related contingent liabilities without considering collateral or provisions. It shows the maximum potential utilization of the Group in case all these liabilities entered into must be fulfilled. The table therefore does not show the expected future cash flows from these liabilities as many of them will expire without being drawn and arising claims will be honored by the customers or can be recovered from proceeds of arranged collateral. in € m. Jun 30, 2019 Dec 31, 2018 Irrevocable lending commitments 163,664 167,722 Revocable lending commitments 43,448 44,327 Contingent liabilities 48,369 51,605 Total 255,481 263,654 Other commitments and other contingent liabilities The following table shows the Group’s other irrevocable commitments and other contingent liabilities without considering collateral or provisions. It shows the maximum potential utilization of the Group in case all these liabilities entered into must be fulfilled. The table therefore does not show the expected future cash flows from these liabilities as many of them will expire without being drawn and arising claims will be honored by the customers or can be recovered from proceeds of arranged collateral. in € m. Jun 30, 2019 Dec 31, 2018 Other commitments 103 130 Other contingent liabilities 78 74 Total 182 204 Irrevocable payment commitments with regard to levies Irrevocable payment commitments related to bank levy according to Bank Recovery and Resolution Directive (BRRD), the Single Resolution Fund (SRF) and the German deposit protection amounted to € 725.4 million as of June 30, 2019 and to € 595.1 million as of December 31, 2018. |
Related Party Transactions
Related Party Transactions | 6 Months Ended |
Jun. 30, 2019 | |
Related Party Transactions [Abstract] | |
Disclosure of related party [text block] | Related Party Transactions Parties are considered to be related if one party has the ability to directly or indirectly control the other party or exercise significant influence over the other party in making financial or operational decisions. The Group’s related parties include : key management personnel, close family members of key management personnel and entities which are controlled, significantly influenced by, or for which significant voting power is held by key management personnel or their close family members, subsidiaries, joint ventures and associates and their respective subsidiaries, and post-employment benefit plans for the benefit of Deutsche Bank employees. Transactions with Key Management Personnel Key management personnel are those persons having authority and responsibility for planning, directing and controlling the activities of Deutsche Bank Group, directly or indirectly. The Group considers the members of the Management Board as currently mandated and the Supervisory Board of the parent company to constitute key management personnel for purposes of IAS 24. Among the Group’s transactions with key management personnel as of June 30, 201 9 , were loans and commitments of € 41 million and deposits of € 19 million . As of December 31, 201 8 , there were loans and commitments of € 45 million and deposits of € 34 million among the Group’s transactions with key management personnel. In addition, the Group provides banking services, such as payment and account services as well as investment advice, to key management personnel and their close family members. Transactions with Subsidiaries, Associates and Joint Ventures Transactions between Deutsche Bank AG and its subsidiaries meet the definition of related party transactions. If these transactions are eliminated on consolidation, they are not disclosed as related party transactions. Transactions between the Group and its associated companies and joint ventures and their respective subsidiaries also qualify as related party transactions. Transactions for subsidiaries, joint ventures and associates are presented combined in below table as these are not material individually. Loans issued and guarantees granted in € m. Jun 30, 2019 Dec 31, 2018 Loans outstanding, beginning of period 228 256 Movement in loans during the period 1 2 (21 ) Changes in the group of consolidated companies 0 0 Exchange rate changes/other 0 (7 ) Loans outstanding, end of period 2 230 228 Other credit risk related transactions: Allowance for loan losses 0 0 Provision for loan losses 0 0 Guarantees and commitments 3 3 1 Net impact of loans issued and loans repayment during the year is shown as "Movement in loans during the period". 2 There were no past due loans as of June 30, 2019 and December 31, 201 8 . For the above loans, the Group held collateral of € 5 million and € 14 million as of June 30, 2019 and December 31, 2018, respectively. Deposits received in € m. Jun 30, 2019 Dec 31, 2018 Deposits, beginning of period 68 67 Movement in deposits during the period 1 (22 ) 2 Changes in the group of consolidated companies 0 0 Exchange rate changes/other 0 (0 ) Deposits, end of period 47 68 1 N et impact of deposits received and deposits repaid during the year is shown as "Movement in deposits during the period". Other Transactions Trading assets and positive market values from derivative financial transactions with associated companies amounted to € 2 million as of June 30, 2019, and € 2 million as of December 31, 2018. Trading liabilities and negative market values from derivative financial transactions with associated companies were € 0 million as of June 30, 2019, and € 0 million as of December 31, 2018 . Transactions with Pension Plans The Group has business relationships with a number of its pension plans pursuant to which it provides financial services to these plans, including investment management. Pension funds may hold or trade Deutsche Bank AG shares or securities. As of June 30, 201 9 , transactions with these plans were not material for the Group. |
Non-Current Assets and Disposal
Non-Current Assets and Disposal Groups Held for Sale | 6 Months Ended |
Jun. 30, 2019 | |
Components of Other Non-Current Assets and Disposal Groups Held for Sale [Abstract] | |
Disclosure of non-current assets or disposal groups classified as held for sale [text block] | Non-Current Assets and Disposal Groups Held for Sale Within the balance sheet, non-current assets and disposal groups held for sale are reported in Other assets and Other liabilities. This note provides further explanation on the nature and the financial impact of the non-current assets and disposal groups held for sale as of June 30, 2019 . Non-Current Assets and Disposal Groups Held for Sale at the Reporting Date Total assets held for sale amounted to € 105 million as of June 30, 2019 (December 31, 2018: € 2.7 billion ) and the disposal groups included liabilities of € 82 million as of June 30, 2019 (December 31, 2018: € 1.2 billion ). As of June 30, 2019, there were no unrealized net gains or losses (December 31, 2018: € 0 million ) relating to non-current assets and disposal groups classified as held for sale recognized directly in accumulated other comprehensive income (loss). On June 9, 2019 and as planned, Deutsche Bank completed the sale of its Private & Commercial Clients business in Portugal to ABANCA . The unit was previously classified as a disposal group held for sale in the first quarter 2018. Upon closing, the Group transferred assets under management of approximately € 3 billion , deposits of € 1 billion , and loans of € 3 billion as well as approximately 330 FTE to ABANCA. |
Capital expenditures and divest
Capital expenditures and divestitures | 6 Months Ended |
Jun. 30, 2019 | |
Capital expenditures and divestitures [Abstract] | |
Disclosure of capital expenditures and divestitures [text block] | Capital expenditures and divestitures During the first half of 2019, the Group made the following capital expenditures or divestitures: In April 2019, Tradeweb closed its initial public offering. Tradeweb is a financial services company that builds and operates over-the-counter (OTC) marketplaces for trading fixed income products and derivatives. Deutsche Bank Group has had an economic interest in Tradeweb since 2007 and participated in the initial public offering, alongside other large bank shareholders by selling a portion of its holdings. In March 2018, Deutsche Bank Group entered into an agreement to sell the retail banking business in Portugal to ABANCA Corporación Bancaria S.A. The transaction was completed in June 2019. |
Events after the Reporting Peri
Events after the Reporting Period | 6 Months Ended |
Jun. 30, 2019 | |
Events after the Reporting Period [Abstract] | |
Disclosure of events after reporting period [text block] | Events after the r eporting period On July 7, 2019, we announced a significant strategic transformation and restructuring plans for our organization and provided additional details on July 8, 2019 . The impact on our financial results is described in the note "Impact of Deutsche Bank’s transformation". The announcement also included our decision to exit our Equities Sales & Trading business, while retaining a focused equity capital markets operation. In this context, we have entered into a preliminary agreement with BNP Paribas to provide continuity of service to our prime finance and electronic equities clients, with a view to transferring technology and staff to BNP Paribas in due course. This agreement remains subject to various conditions and approvals. |
Management Report - Segment Res
Management Report - Segment Results of Operations | 6 Months Ended |
Jun. 30, 2019 | |
Segment Results of Operations [Abstract] | |
Disclosure of Segment Results of Operations [text block] | Segment results Three months ended Jun 30, 2019 in € m. Corporate & Private & Asset Corporate & Total Net revenues 2,942 2,486 593 182 6,203 Provision for credit losses 72 87 0 2 161 Noninterest expenses: Compensation and benefits 890 973 228 723 2,813 General and administrative expenses 2,343 1,136 217 (606 ) 3,089 Impairment of goodwill and other intangible assets 491 545 0 0 1,035 Restructuring activities 36 (13 ) 27 0 50 Total noninterest expenses 3,759 2,640 471 117 6,987 Noncontrolling interests 18 (0 ) 33 (51 ) 0 Profit (loss) before tax (907 ) (241 ) 89 113 (946 ) N/M - Not meaningful Three months ended Jun 30, 2018 in € m. Corporate & Private & Asset Corporate & Total Net revenues 3,578 2,542 561 (91 ) 6,590 Provision for credit losses 11 86 (1 ) (2 ) 95 Noninterest expenses: Compensation and benefits 1,054 1,003 194 800 3,050 General and administrative expenses 1,858 1,181 240 (727 ) 2,552 Impairment of goodwill and other intangible assets 0 0 0 0 0 Restructuring activities 160 11 7 5 182 Total noninterest expenses 3,071 2,194 441 77 5,784 Noncontrolling interests 21 0 26 (48 ) 0 Profit (loss) before tax 475 262 93 (119 ) 711 N/M - Not meaningful Six months ended in € m. Corporate & Private & Asset Corporate & Total Net revenues 6,270 4,999 1,118 166 12,554 Provision for credit losses 95 204 0 2 301 Noninterest expenses: Compensation and benefits 1,852 1,946 427 1,453 5,679 General and administrative expenses 4,766 2,297 413 (1,316 ) 6,159 Impairment of goodwill and other intangible assets 491 545 0 0 1,035 Restructuring activities 43 (39 ) 29 0 33 Total noninterest expenses 7,151 4,749 869 137 12,906 Noncontrolling interests 19 (0 ) 64 (82 ) 0 Profit (loss) before tax (995 ) 46 185 109 (654 ) N/M - Not meaningful Six months ended in € m. Corporate & Private & Asset Corporate & Total Net revenues 7,424 5,182 1,106 (144 ) 13,567 Provision for credit losses 8 174 (0 ) 0 183 Noninterest expenses: Compensation and benefits 2,114 1,982 389 1,566 6,052 General and administrative expenses 4,426 2,445 516 (1,379 ) 6,008 Impairment of goodwill and other intangible assets 0 0 0 0 0 Restructuring activities 174 (7 ) 9 5 181 Total noninterest expenses 6,714 4,421 914 192 12,241 Noncontrolling interests 24 0 26 (51 ) 0 Profit (loss) before tax 678 586 165 (286 ) 1,143 N/M - Not meaningful Corporate & Investment Bank (CIB) Three months ended Six months ended in € m. Jun 30, 2019 Jun 30, 2018 Absolute Change Jun 30, 2019 Jun 30, 2018 Absolute Change Net revenues: Global Transaction Banking 949 1,008 (59 ) (6 ) 1,924 1,926 (2 ) (0 ) Equity Origination 75 108 (32 ) (30 ) 118 183 (65 ) (35 ) Debt Origination 241 316 (75 ) (24 ) 530 633 (102 ) (16 ) Advisory 91 153 (62 ) (41 ) 212 241 (28 ) (12 ) Origination and Advisory 407 577 (170 ) (30 ) 861 1,057 (195 ) (18 ) Sales & Trading (Equity) 369 540 (172 ) (32 ) 837 1,111 (275 ) (25 ) Sales & Trading (FIC) 1,320 1,372 (52 ) (4 ) 2,836 3,255 (419 ) (13 ) Sales & Trading 1,689 1,912 (224 ) (12 ) 3,672 4,366 (694 ) (16 ) Other (103 ) 81 (183 ) N/M (187 ) 75 (262 ) N/M Total net revenues 2,942 3,578 (636 ) (18 ) 6,270 7,424 (1,153 ) (16 ) Provision for credit losses 72 11 61 N/M 95 8 87 N/M Noninterest expenses: Compensation and benefits 890 1,054 (164 ) (16 ) 1,852 2,114 (263 ) (12 ) General and administrative expenses 2,343 1,858 485 26 4,766 4,426 340 8 Impairment of goodwill and other intangible assets 491 0 491 N/M 491 0 491 N/M Restructuring activities 36 160 (124 ) (78 ) 43 174 (131 ) (75 ) Total noninterest expenses 3,759 3,071 688 22 7,151 6,714 438 7 Noncontrolling interests 18 21 (3 ) (16 ) 19 24 (5 ) (22 ) Profit (loss) before tax (907 ) 475 (1,381 ) N/M (995 ) 678 (1,672 ) N/M Total Assets (in € bn, as of quarter-end) 1,077 1,077 (0 ) (0 ) 1,077 1,077 (0 ) (0 ) Loans (gross of allowance for loan losses, in € bn, as of quarter-end) 143 128 15 12 143 128 15 12 Employees (full-time equivalent, as of quarter-end) 17,238 17,052 185 1 17,238 17,052 185 1 N/M - Not meaningful Private & Commercial Bank (PCB) Three months ended Six months ended in € m. Jun 30, 2019 Jun 30, 2018 Absolute Change Jun 30, 2019 Jun 30, 2018 Absolute Change Net revenues: Private and Commercial Business (Germany) 1,670 1,635 36 2 3,377 3,471 (94 ) (3 ) Private and Commercial Business (International) 1 366 376 (10 ) (3 ) 725 750 (25 ) (3 ) Wealth Management (Global) 429 470 (41 ) (9 ) 856 896 (40 ) (4 ) Exited businesses 2 21 62 (41 ) (67 ) 41 65 (24 ) (37 ) Total net revenues 2,486 2,542 (57 ) (2 ) 4,999 5,182 (183 ) (4 ) Of which: Net interest income 1,510 1,516 (6 ) (0 ) 2,988 3,001 (13 ) (0 ) Commissions and fee income 775 793 (19 ) (2 ) 1,595 1,661 (66 ) (4 ) Remaining income 201 233 (32 ) (14 ) 416 520 (104 ) (20 ) Provision for credit losses 87 86 1 1 204 174 29 17 Noninterest expenses: Compensation and benefits 973 1,003 (30 ) (3 ) 1,946 1,982 (36 ) (2 ) General and administrative expenses 1,136 1,181 (46 ) (4 ) 2,297 2,445 (149 ) (6 ) Impairment of goodwill and other intangible assets 545 0 545 N/M 545 0 545 N/M Restructuring activities (13 ) 11 (23 ) N/M (39 ) (7 ) (32 ) N/M Total noninterest expenses 2,640 2,194 446 20 4,749 4,421 328 7 Noncontrolling interests (0 ) 0 (0 ) N/M (0 ) 0 (0 ) N/M Profit (loss) before tax (241 ) 262 (503 ) N/M 46 586 (540 ) (92 ) Total Assets (in € bn, as of quarter-end) 345 338 7 2 345 338 7 2 Loans (gross of allowance for loan losses, in € bn, as of quarter-end) 272 268 5 2 272 268 5 2 Assets under Management (in € bn, as of quarter-end) 505 503 2 0 505 503 2 0 Employees (full-time equivalent, as of quarter-end) 40,932 43,614 (2,682 ) (6 ) 40,932 43,614 (2,682 ) (6 ) N/M - Not meaningful 1 Covers operations in Belgium, India, Italy and Spain. 2 Covers operations in Poland and Portugal as well as Private Client Services (PCS) and Hua Xia in historical periods. Asset Management (AM) Three months ended Six months ended in € m. Jun 30, 2019 Jun 30, 2018 Absolute Change Jun 30, 2019 Jun 30, 2018 Absolute Change Net revenues: Management Fees 539 530 9 2 1,048 1,062 (14 ) (1 ) Performance and transaction fees 66 29 36 124 77 47 29 62 Other revenues (11 ) 1 (12 ) N/M (7 ) (3 ) (3 ) 100 Total net revenues 593 561 33 6 1,118 1,106 13 1 Provision for credit losses 0 (1 ) 1 N/M 0 (0 ) 0 N/M Total noninterest expenses: Compensation and benefits 228 194 33 17 427 389 39 10 General and administrative expenses 217 240 (23 ) (10 ) 413 516 (103 ) (20 ) Impairment of goodwill and other intangible assets 0 0 0 N/M 0 0 0 N/M Restructuring activities 27 7 20 N/M 29 9 19 N/M Total noninterest expenses 471 441 30 7 869 914 (45 ) (5 ) Noncontrolling interests 33 26 6 25 64 26 37 141 Profit (loss) before tax 89 93 (4 ) (5 ) 185 165 20 12 Total Assets (in € bn, as of quarter-end) 10 10 (0 ) (2 ) 10 10 (0 ) (2 ) Assets under Management (in € bn, as of quarter-end) 721 692 29 4 721 692 29 4 Employees (full-time equivalent, as of quarter-end) 3,998 4,027 (29 ) (1 ) 3,998 4,027 (29 ) (1 ) N/M - Not meaningful Corporate & Other (C&O) Three months ended Six months ended in € m. Jun 30, 2019 Jun 30, 2018 Absolute Change Jun 30, 2019 Jun 30, 2018 Absolute Change Net revenues 182 (91 ) 273 N/M 166 (144 ) 311 N/M Provision for credit losses 2 (2 ) 4 N/M 2 0 2 N/M Noninterest expenses: Compensation and benefits 723 800 (77 ) (10 ) 1,453 1,566 (113 ) (7 ) General and administrative expenses (606 ) (727 ) 121 (17 ) (1,316 ) (1,379 ) 63 (5 ) Impairment of goodwill and other intangible assets 0 0 0 N/M 0 0 0 N/M Restructuring activities 0 5 (5 ) N/M 0 5 (5 ) N/M Total noninterest expenses 117 77 40 52 137 192 (54 ) (28 ) Noncontrolling interests (51 ) (48 ) (3 ) 6 (82 ) (51 ) (32 ) 62 Profit (loss) before tax 113 (119 ) 232 N/M 109 (286 ) 395 N/M N/M - Not meaningful |
Transitional Table Leasing IFRS
Transitional Table Leasing IFRS16 (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
Transitional Table Leasing IFRS 16 [Abstract] | |
Transitional Table Leasing IFRS 16 [text block table] | in € m. Operating lease commitments as of December 31, 2018 6,264 Recognition exemptions adopted for short-term leases and leases of low-value assets (35 ) Adjustments as a result of a different treatment of extension and termination options 376 Operating lease commitments regarding contracts not yet commenced (2,819 ) Other 1 97 Undiscounted lease liabilities as of January 1, 2019 3,884 Discounting (weighted average incremental borrowing rate of 2.18 %) (310 ) Lease liabilities due to initial application of IFRS 16, recognized as of January 1, 2019 3,575 Lease liabilities from finance leases as of January 1, 2019 27 Total lease liabilities recognized at January 1, 2019 3,601 1 Mainly de-scoped or terminated leases, operating expenses, utility costs, VAT, sale-and-leaseback transactions. |
Deutsche Bank Transformation -
Deutsche Bank Transformation - Impairment of goodwill and other intangible assets - Discount Rates (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
Deutsche Bank's Transformation - Impairment of goodwil and other intangible assets - Discount Rates [Abstract] | |
Deutsche Bank's Transformation - Impairment of goodwill and intangible assets - Discount Rates [text block table] | The discount rates applied in the estimation of the recoverable amounts were as follows: Discount rate (post-tax) 2019 2018 Global Transaction Banking & Corporate Finance 8.6 % 8.8 % Wealth Management 8.4 % 9.0 % |
Deutsche Bank Transformation _2
Deutsche Bank Transformation - Changes in regulatory capital (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
Deutsche Bank's Transformation - Changes in regulatory capital [Abstract] | |
Deutsche Bank's Transformation - Changes in regulatory capital [text block table] | Capital measure (in € bn, unless stated otherwise) Jun 30,2019 (reported) Jun 30,2019 Common Equity Tier 1 capital 46.5 46.8 Risk-Weighted Assets 346.9 347.9 Common Equity Tier 1 Ratio 13.4 % 13.4 % |
Net Interest Income and Net G_2
Net Interest Income and Net Gains (Losses) on Financial Assets/Liabilities at Fair Value through Profit or Loss (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
Net Interest Income and Net Gains (Losses) on Financial Assets/Liabilities at Fair Value through Profit or Loss [Abstract] | |
Net Interest Income and Net Gains (Losses) on Financial Assets/Liabilities at Fair Value through Profit or Loss [text block table] | Net Interest Income and Net Gains (Losses) on Financial Assets/Liabilities at Fair Value through Profit or Loss Three months ended Six months ended in € m. Jun 30, 2019 Jun 30, 2018 Jun 30, 2019 Jun 30, 2018 Net interest income 1 3,630 3,465 6,933 6,415 Trading income 2 148 (175 ) 985 867 Net gains (losses) on non-trading financial assets mandatory at fair value through profit or loss 189 46 319 24 Net gains (losses) on financial assets/liabilities designated at fair value through profit or loss (124 ) 275 (322 ) 405 Total net gains (losses) on financial assets/liabilities at fair value through profit or loss 213 147 982 1,296 Total net interest income and net gains (losses) on financial assets/liabilities 3,844 3,612 7,916 7,712 Sales & Trading (Equity) 237 426 615 865 Sales & Trading (FIC) 1,375 1,254 3,039 2,949 Total Sales & Trading 1,613 1,680 3,654 3,814 Global Transaction Banking 481 443 975 906 Remaining Products (210 ) (14 ) (381 ) (165 ) Corporate & Investment Bank 1,884 2,109 4,247 4,555 Private & Commercial Bank 1,561 1,573 3,098 3,103 Asset Management (1 ) 18 39 (20 ) Corporate & Other 400 (88 ) 532 74 Total net interest income and net gains (losses) on financial assets/liabilities 3,844 3,612 7,916 7,712 1 Prior period comparatives ha ve been restated. € 35 million and € 73 million were reclassified from N et interest income to Commission and f ee Income for the three months and six months ended June 30, 2018, respectively. 2 Trading income includes gains and losses from derivatives not qualifying for hedge accounting. |
Commission and Fee Income (Tabl
Commission and Fee Income (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
Commissions and Fee Income [Abstract] | |
Disaggregation of revenues by product type and business segment based on IFRS 15 [text block table] | Commissions and Fee Income Disaggregation of revenues by product type and business segment Three months ended in € m. Corporate & Investment Bank Private & Asset Corporate & Total Major type of services: Commissions for administration 68 62 6 0 136 Commissions for assets under management 5 72 824 1 903 Commissions for other securities 88 7 1 0 96 Underwriting and advisory fees 423 4 0 (1 ) 426 Brokerage fees 270 237 20 1 528 Commissions for local payments 101 261 (0 ) 0 362 Commissions for foreign commercial business 114 31 0 (0 ) 145 Commissions for foreign currency/exchange business 2 2 0 (0 ) 3 Commissions for loan processing and guarantees 158 73 0 1 232 Intermediary fees 1 125 0 2 128 Fees for sundry other customer services 146 52 30 0 228 Total fee and commissions income 1,375 927 881 4 3,188 Gross expense (711 ) Net fees and commissions 2,484 Three months ended in € m. Corporate & Investment Bank 1 Private & Asset Corporate & Total Major type of services: Commissions for administration 78 64 6 (0 ) 147 Commissions for assets under management 18 63 801 (0 ) 882 Commissions for other securities 75 7 1 0 83 Underwriting and advisory fees 504 6 0 (7 ) 503 Brokerage fees 305 215 26 0 546 Commissions for local payments 103 258 0 (0 ) 361 Commissions for foreign commercial business 120 36 0 (0 ) 156 Commissions for foreign currency/exchange business 2 2 0 0 4 Commissions for loan processing and guarantees 178 82 0 0 260 Intermediary fees 1 127 0 3 131 Fees for sundry other customer services 201 60 31 1 292 Total fee and commissions income 1,584 920 865 (4 ) 3,364 Gross expense (730 ) Net fees and commissions 2,634 1 Prior period comparatives ha ve been restated. € 35 million for the three months ended June 30, 2018 were reclassified from Commission and F ee Income to Net interest income. Six months ended in € m. Corporate & Investment Bank Private & Asset Corporate & Total Major type of services: Commissions for administration 132 121 11 (0 ) 264 Commissions for assets under management 11 140 1,563 1 1,715 Commissions for other securities 158 15 1 0 173 Underwriting and advisory fees 836 9 0 (9 ) 836 Brokerage fees 527 493 33 2 1,055 Commissions for local payments 202 524 (0 ) (0 ) 726 Commissions for foreign commercial business 231 63 0 (0 ) 293 Commissions for foreign currency/exchange business 3 4 0 (0 ) 7 Commissions for loan processing and guarantees 336 145 0 2 484 Intermediary fees 2 251 (0 ) 6 260 Fees for sundry other customer services 282 105 62 0 449 Total fee and commissions income 2,721 1,868 1,669 2 6,260 Gross expense (1,407 ) Net fees and commissions 4,865 Six months ended in € m. Corporate & Investment Bank 1 Private & Asset Corporate & Total Major type of services: Commissions for administration 150 131 12 (1 ) 292 Commissions for assets under management 32 130 1,617 (0 ) 1,778 Commissions for other securities 142 16 2 0 160 Underwriting and advisory fees 973 10 0 (21 ) 963 Brokerage fees 674 516 45 (0 ) 1,236 Commissions for local payments 209 512 (0 ) (1 ) 721 Commissions for foreign commercial business 241 71 0 (0 ) 311 Commissions for foreign currency/exchange business 4 4 0 (0 ) 7 Commissions for loan processing and guarantees 352 161 0 1 513 Intermediary fees 5 250 0 7 261 Fees for sundry other customer services 380 119 56 1 556 Total fee and commissions income 3,163 1,918 1,731 (15 ) 6,797 Gross expense (1,511 ) Net fees and commissions 5,286 1 Prior period comparatives ha ve been restated. € 73 million for the six months ended June 30, 2018 were reclassified from Commission and F ee Income to Net interest income. |
Restructuring (Tables)
Restructuring (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
Restructuring [Abstract] | |
Net Restructuring Expense by Division [text block table] | Net restructuring expense by division Three months ended Six months ended in € m. Jun 30, 2019 Jun 30, 2018 Jun 30, 2019 Jun 30, 2018 Corporate & Investment Bank 36 165 43 178 Private & Commercial Bank (13 ) 11 (39 ) (7 ) Asset Management 27 7 29 9 Total Net Restructuring Charges 50 182 33 181 |
Net Restructuring by Type [text block table] | Net restructuring expense by type Three months ended Six months ended in € m. Jun 30, 2019 Jun 30, 2018 Jun 30, 2019 Jun 30, 2018 Restructuring - Staff related 50 181 34 184 Of which: Termination Payments 42 90 23 85 Retention Acceleration 8 86 11 94 Social Security 0 5 0 5 Restructuring - Non Staff related 1 (0 ) 1 (1 ) (3 ) Total net restructuring Charges 50 182 33 181 1 Contract costs, mainly related to real estate and technology. |
Organizational Changes [text block table] | During the three months end ed June 3 0 , 201 9 , 302 full-time equivalent staff were reduced as part of our restructur i ng program . These reductions were identified within : Three months Six months Jun 30, 2019 Jun 30, 2019 Corporate & Investment Bank 132 159 Private & Commercial Bank 23 140 Asset Management 49 60 Infrastructure 99 202 Total full-time equivalent staff 302 561 |
Financial Instruments carried_2
Financial Instruments carried at Fair Value (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
Financial Instruments carried at Fair Value [Abstract] | |
Carrying Value of The Financial Instruments held at Fair Value [text block table] | Carrying value of the financial instruments held at fair value 1 Jun 30, 2019 Dec 31, 2018 in € m. Quoted Valuation Valuation Quoted Valuation Valuation Financial assets held at fair value: Trading assets 86,868 66,376 9,365 75,415 67,560 9,763 Trading securities 86,715 59,856 4,002 75,210 61,424 4,086 Other trading assets 152 6,520 5,362 205 6,136 5,676 Positive market values from derivative financial instruments 8,001 349,052 8,955 10,140 301,609 8,309 Non-trading financial assets mandatory at fair value through profit or loss 4,235 92,034 5,101 8,288 86,090 6,066 Financial assets designated at fair value through profit or loss 0 0 35 104 0 0 Financial assets at fair value through other comprehensive income 33,912 15,603 444 32,517 18,397 268 Other financial assets at fair value 3 3,166 2 254 42 2,779 2 207 Total financial assets held at fair value 133,019 526,230 24,153 126,505 476,435 24,614 Financial liabilities held at fair value: Trading liabilities 41,615 16,763 17 42,548 17,361 15 Trading securities 41,608 16,480 0 42,547 17,082 0 Other trading liabilities 7 283 16 1 279 15 Negative market values from derivative financial instruments 10,103 328,985 7,960 9,638 285,561 6,289 Financial liabilities designated at fair value through profit or loss 0 49,303 2,514 119 51,617 2,021 Investment contract liabilities 0 557 0 0 512 0 Other financial liabilities at fair value 469 2,203 2 (378 ) 3 201 2,658 2 (611 ) 3 Total financial liabilities held at fair value 52,186 397,812 10,113 52,505 357,709 7,714 1 Amounts in this table are generally presented on a gross basis, in line with the Group’s accounting policy regarding offsetting of financial instruments, as described in Note 1 "Significant Accounting Policies and Critical Accounting Estimates" of the Annual Report 201 8 . 2 Predominantly relates to derivatives qualifying for hedge accounting. 3 Relates to derivatives which are embedded in contracts where the host contract is held at amortized cost but for which the embedded derivative is separated. The separated embedded derivatives may have a positive or a negative fair value but have been presented in this table to be consistent with the classification of the host contract. The separated embedded derivatives are held at fair value on a recurring basis and have been split between the fair value hierarchy classifications. |
Sensitivity Analysis by Type of Instrument [text block table] | Breakdown of the sensitivity analysis by type of instrument 1 Jun 30, 2019 Dec 31, 2018 in € m. Positive fair value Negative fair value Positive fair value Negative fair value Securities: Debt securities 167 102 179 118 Commercial mortgage-backed securities 3 2 5 4 Mortgage and other asset-backed securities 43 43 38 37 Corporate, sovereign and other debt securities 120 57 136 77 Equity securities 65 78 84 67 Derivatives: Credit 131 108 151 116 Equity 216 188 257 207 Interest related 264 146 346 206 Foreign exchange 44 38 49 26 Other 135 84 106 89 Loans: Loans 489 217 475 219 Other 0 0 0 0 Total 1,509 963 1,647 1,046 1 Where the e xposure to an unobservable p arameter is offset across different instruments then only the net impact is disclosed in the table. |
Quantitative Information about Fair Value (Level 3) [text block table] | Financial instruments classified in Level 3 and quantitative information about unobservable inputs Jun 30, 2019 Fair value in € m. Assets Liabilities Valuation technique(s) 1 Significant unobservable Range Financial instruments held at fair value - Mortgage- and other asset-backed Commercial mortgage-backed 31 0 Price based Price 0 % 105 % Discounted cash flow Credit spread (bps) 108 1,516 Mortgage- and other asset-backed 266 0 Price based Price 0 % 103 % Discounted cash flow Credit spread (bps) 47 1,879 Recovery rate 10 % 90 % Constant default rate 0 % 4 % Constant prepayment rate 3 % 52 % Total mortgage- and other asset-backed 296 0 Debt securities and other debt 5,152 2,213 Price based Price 0 % 155 % Held for trading 3,618 0 Discounted cash flow Credit spread (bps) 5 419 Corporate, sovereign and other 3,618 Non-trading financial assets mandatory at fair value through profit or loss 1,162 Designated at fair value through profit or loss 0 2,213 Financial assets at fair value through other comprehensive income 372 Equity securities 1,010 0 Market approach Price per net asset value 0 % 100 % Held for trading 88 0 Enterprise value/EBITDA 5 17 Non-trading financial assets mandatory at fair value through profit or loss 921 Discounted cash flow Weighted average cost capital 8 % 40 % Loans 6,780 16 Price based Price 0 % 109 % Held for trading 5,301 16 Discounted cash flow Credit spread (bps) 16 697 Non-trading financial assets mandatory at fair value through profit or loss 1,373 Constant default rate 0 % 0 % Designated at fair value through profit or loss 34 0 Recovery rate 35 % 75 % Financial assets at fair value through other comprehensive income 72 Loan commitments 0 0 Discounted cash flow Credit spread (bps) 16 3,200 Recovery rate 25 % 75 % Loan pricing model Utilization 0 % 100 % Other financial instruments 1,707 2 301 3 Discounted cash flow IRR 8 % 46 % Repo rate (bps.) 50 357 Total non-derivative financial 14,944 2,531 1 Valuation technique(s) and subsequently the significant unobservable input(s) relate to the respective total position. 2 Other financial assets include € 62 million of other trading asse ts, € 1.6 billion of other financial assets mandatory at fair value. 3 Other financial liabilities incl ude € 174 million of securities sold under repurchase agreements designated at fair value and € 127 million of o ther financial liabilities designated at fair value . Dec 31, 2018 Fair value in € m. Assets Liabilities Valuation technique(s) 1 Significant unobservable Range Financial instruments held at fair value - Mortgage- and other asset-backed Commercial mortgage-backed 66 0 Price based Price 0 % 120 % Discounted cash flow Credit spread (bps) 97 1,444 Mortgage- and other asset-backed 745 0 Price based Price 0 % 102 % Discounted cash flow Credit spread (bps) 26 2,203 Recovery rate 0 % 90 % Constant default rate 0 % 16 % Constant prepayment rate 0 % 42 % Total mortgage- and other asset-backed 811 0 Debt securities and other debt 3,876 1,764 Price based Price 0 % 148 % Held for trading 3,037 0 Discounted cash flow Credit spread (bps) 5 582 Corporate, sovereign and other 3,037 Non-trading financial assets mandatory at fair value through profit or loss 726 Designated at fair value through profit or loss 0 1,764 Financial assets at fair value through other comprehensive income 114 Equity securities 1,244 0 Market approach Price per net asset value 70 % 100 % Held for trading 239 0 Enterprise value/EBITDA 6 17 Non-trading financial assets mandatory at fair value through profit or loss 1,005 Discounted cash flow Weighted average cost capital 7 % 20 % Loans 7,167 15 Price based Price 0 % 341 % Held for trading 5,651 15 Discounted cash flow Credit spread (bps) 40 930 Non-trading financial assets mandatory at fair value through profit or loss 1,362 Designated at fair value through profit or loss 0 0 Constant default rate 0 % 0 % Financial assets at fair value through other comprehensive income 154 Recovery rate 35 % 40 % Loan commitments 0 0 Discounted cash flow Credit spread (bps) 30 2,864 Recovery rate 25 % 75 % Loan pricing model Utilization 0 % 100 % Other financial instruments 2,999 2 257 3 Discounted cash flow IRR 3 % 46 % Repo rate (bps.) 65 387 Total non-derivative financial 16,097 2,037 1 Valuation technique(s) and subsequently the significant unobservable input(s) relate to the respective total position. 2 Other financial assets include € 26 million of other trading assets, € 3 billion of other financial assets mandatory at fair value. 3 Other financial liabilities include € 185 million of securities sold under repurchase agreements designated at fair value and € 72 million of other financial liabilities designated at fair value. Jun 30, 2019 Fair value in € m. Assets Liabilities Valuation technique(s) Significant unobservable Range Financial instruments held at fair value: Market values from derivative financial Interest rate derivatives 4,826 3,655 Discounted cash flow Swap rate (bps) (138 ) 5,322 Inflation swap rate 1 % 6 % Constant default rate 0 % 16 % Constant prepayment rate 2 % 60 % Option pricing model Inflation volatility 0 % 5 % Interest rate volatility 0 % 122 % IR - IR correlation (25) % 100 % Hybrid correlation (60) % 93 % Credit derivatives 667 747 Discounted cash flow Credit spread (bps) 0 8,963 Recovery rate 0 % 99 % Correlation pricing Credit correlation 1 % 85 % Equity derivatives 1,900 2,304 Option pricing model Stock volatility 4 % 100 % Index volatility 4 % 43 % Index - index correlation 1 1 Stock - stock correlation 3 % 96 % Stock Forwards 0 % 21 % Index Forwards 0 % 6 % FX derivatives 954 1,034 Option pricing model Volatility (9) % 32 % Other derivatives 861 (158 ) 1 Discounted cash flow Credit spread (bps) - - Option pricing model Index volatility 7 % 72 % Commodity correlation 16 % 86 % Total market values from derivative 9,209 7,582 1 Includes derivatives which are embedded in contracts where the host contract is held at amortized cost but for which the embedded derivative is separated. Dec 31, 2018 Fair value in € m. Assets Liabilities Valuation technique(s) Significant unobservable Range Financial instruments held at fair value: Market values from derivative financial Interest rate derivatives 4,264 2,568 Discounted cash flow Swap rate (bps) (124 ) 2,316 Inflation swap rate 1 % 6 % Constant default rate 0 % 35 % Constant prepayment rate 2 % 43 % Option pricing model Inflation volatility 0 % 5 % Interest rate volatility 0 % 31 % IR - IR correlation (30) % 90 % Hybrid correlation (59) % 75 % Credit derivatives 638 964 Discounted cash flow Credit spread (bps) 0 1,541 Recovery rate 0 % 80 % Correlation pricing Credit correlation 25 % 85 % Equity derivatives 1,583 1,498 Option pricing model Stock volatility 4 % 96 % Index volatility 11 % 79 % Index - index correlation 1 1 Stock - stock correlation 2 % 89 % Stock Forwards 0 % 63 % Index Forwards 0 % 5 % FX derivatives 1,034 1,005 Option pricing model Volatility (6) % 34 % Other derivatives 997 (357 ) 1 Discounted cash flow Credit spread (bps) - - Option pricing model Index volatility 5 % 92 % Commodity correlation 0 % 0 % Total market values from derivative 8,516 5,677 1 Includes derivatives which are embedded in contracts where the host contract is held at amortized cost but for which the embedded derivative is separated. |
Unrealized Gains or Losses on Level 3 Instruments Held or in Issue at the Reporting Date [text block table] | Six months ended in € m. Jun 30, 2019 Jun 30, 2018 Financial assets held at fair value: Trading securities 121 15 Positive market values from derivative financial instruments 1,476 676 Other trading assets 62 56 Non-trading financial assets mandatory at fair value through profit or loss 94 250 Financial assets designated at fair value through profit or loss 0 0 Financial assets at fair value through other comprehensive income 0 0 Other financial assets at fair value 15 0 Total financial assets held at fair value 1,769 997 Financial liabilities held at fair value: Trading securities (0 ) (1 ) Negative market values from derivative financial instruments (1,516 ) (603 ) Other trading liabilities 1 0 Financial liabilities designated at fair value through profit or loss (107 ) 189 Other financial liabilities at fair value (206 ) 205 Total financial liabilities held at fair value (1,829 ) (209 ) Total (60 ) 788 |
Recognitions of Trade Date Profit [text block table] | in € m. Jun 30, 2019 Jun 30, 2018 Balance, beginning of year 531 596 New trades during the period 73 128 Amortization (60 ) (87 ) Matured trades (76 ) (70 ) Subsequent move to observability (34 ) (49 ) Exchange rate changes 1 1 Balance, end of period 434 520 |
Fair Value of Financial Instr_2
Fair Value of Financial Instruments not carried at Fair Value (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
Fair Value of Financial Instruments not carried at Fair Value [Abstract] | |
Estimated Fair Value of the Financial Instruments not carried at Fair Value [text block table] | Estimated fair value of financial instruments not carried at fair value on the balance sheet 1 Jun 30, 2019 Dec 31, 2018 in € m. Carrying value Fair value Carrying value Fair value Financial assets: Cash and central bank balances 160,982 160,982 188,731 188,731 Interbank balances (w/o central banks) 10,144 10,144 8,881 8,881 Central bank funds sold and securities purchased under resale agreements 9,126 9,127 8,222 8,223 Securities borrowed 647 647 3,396 3,396 Loans 414,889 421,562 400,297 395,900 Other financial assets 125,855 126,183 80,089 80,193 Financial liabilities: Deposits 576,506 577,033 564,405 564,637 Central bank funds purchased and securities sold under repurchase 7,532 7,533 4,867 4,867 Securities loaned 2,992 2,992 3,359 3,359 Other short-term borrowings 12,418 12,420 14,158 14,159 Other financial liabilities 136,495 136,495 100,683 100,683 Long-term debt 147,629 145,784 152,083 149,128 Trust preferred securities 3,269 3,294 3,168 3,114 1 Amounts generally presented on a gross basis, in line with the Group’s accounting policy regarding offsetting of financial instruments as described in Note 1 "Significant Accounting Policies and Critical Accounting Estimates" of the Group’s Annual Report 2018. |
Shares Issued and Outstanding (
Shares Issued and Outstanding (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
Shares Issued and Outstanding [Abstract] | |
Shares Issued and Outstanding [text block table] | Shares Issued and Outstanding in million Jun 30, 2019 Dec 31, 2018 Shares issued 2,066.8 2,066.8 Shares in treasury 1.8 1.3 Of which: Buyback 1.6 1.2 Other 0.2 0.2 Shares outstanding 2,064.9 2,065.4 |
Long-Term Debt (Tables)
Long-Term Debt (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
Long-Term Debt and Trust Preferred Securities [Abstract] | |
Long-Term Debt [text block table] | Long-Term Debt in € m. Jun 30, 2019 Dec 31, 2018 Senior debt: Bonds and notes Fixed rate 77,607 77,894 Floating rate 25,254 30,495 Subordinated debt: Bonds and notes Fixed rate 5,510 5,297 Floating rate 1,390 1,420 Other 37,868 36,977 Total long-term debt 147,629 152,083 |
Allowance for Credit Losses (Ta
Allowance for Credit Losses (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
Allowance for Credit Losses [Abstract] | |
Allowance for Off-Balance Sheet Positions [text block table] | Development of allowance for credit losses for off-balance sheet positions Six months ended Jun 30, 2019 Allowance for credit losses 2 in € m. Stage 1 Stage 2 Stage 3 Stage 3 POCI Total Balance, beginning of year 132 73 84 0 289 Movements including new business 2 6 3 0 12 Transfers due to changes in creditworthiness 4 (7 ) 3 N/M 0 Changes in models 0 0 0 0 0 Foreign exchange and other changes 0 0 (0 ) 0 1 Balance, end of reporting period 139 73 90 0 301 Provision for credit losses excluding country risk 1 6 (0 ) 5 0 12 1 The above table breaks down the impact on provision for credit losses from movements in financial assets including new business, transfers due to changes in creditworthiness and changes in models. 2 Allowance for credit losses does not include allowance for country risk amounting to € 5 million as of June 30, 2019 . Six months ended Jun 30, 2018 Allowance for credit losses 2 in € m. Stage 1 Stage 2 Stage 3 Stage 3 POCI Total Balance, beginning of year 117 36 119 0 272 Movements including new business (16 ) 11 2 0 (4 ) Transfers due to changes in creditworthiness 9 (9 ) (0 ) N/M 0 Changes in models 0 0 0 0 0 Foreign exchange and other changes 11 12 16 0 39 Balance, end of reporting period 121 49 136 0 307 Provision for credit losses excluding country risk 1 (7 ) 1 2 0 (4 ) 1 The above table breaks down the impact on provision for credit losses from movements in financial assets including new business, transfers due to changes in creditworthiness and changes in models. 2 Allowance for credit losses does not include allowance for country risk amounting to € 4 million as of June 30, 2018 . |
Allowance for Credit Losses [text block table] | Development of allowance for credit losses for financial assets at amortized cost Six months ended Jun 30, 2019 Allowance for credit losses 3 in € m. Stage 1 Stage 2 Stage 3 Stage 3 POCI Total Balance, beginning of year 509 501 3,247 3 4,259 Movements in financial assets including new business (13 ) 110 171 23 291 Transfers due to changes in creditworthiness 64 (69 ) 5 N/M 0 Changes due to modifications that did not result in N/M N/M N/M N/M N/M Changes in models 0 0 0 0 0 Financial assets that have been derecognized during the period² 0 0 (463 ) 0 (463 ) Recovery of written off amounts 0 0 41 0 41 Foreign exchange and other changes (4 ) (8 ) (5 ) 12 (5 ) Balance, end of reporting period 556 534 2,996 37 4,123 Provision for credit losses excluding country risk 1 52 41 176 23 291 1 Movements in financial assets including new business, transfers due to changes in creditworthiness and changes in models add up to Provision for Credit Losses excluding country risk. 2 This position includes charge offs of allowance for credit losses. 3 Allowance for credit losses does not include allowance for country risk amounting to € 3 million as of June 30, 2019 . Six months ended Jun 30, 2018 Allowance for credit losses 3 in € m. Stage 1 Stage 2 Stage 3 Stage 3 POCI Total Balance, beginning of year 462 494 3,638 3 4,596 Movements in financial assets including new business (88 ) 152 126 (2 ) 188 Transfers due to changes in creditworthiness 110 (122 ) 12 N/M 0 Changes due to modifications that did not result in N/M N/M N/M N/M N/M Changes in models 0 0 0 0 0 Financial assets that have been derecognized during the period² 0 0 (362 ) 0 (362 ) Recovery of written off amounts 0 0 110 0 110 Foreign exchange and other changes (24 ) (19 ) (29 ) 8 (64 ) Balance, end of reporting period 460 504 3,495 9 4,468 Provision for credit losses excluding country risk 1 22 30 138 (2 ) 188 1 The above table breaks down the impact on provision for credit losses from movements in financial assets including new business, transfers due to changes in creditworthiness and changes in models. 2 This position includes charge offs of allowance for credit losses. 3 Allowance for credit losses does not include allowance for country risk amounting to € 5 million as of June 30, 2018 . |
Credit related Commitments an_2
Credit related Commitments and Contingent Liabilities (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
Credit related Commitments and Contingent Liabilities [Abstract] | |
Commitments and Contingent Liabilities [text block table] | in € m. Jun 30, 2019 Dec 31, 2018 Irrevocable lending commitments 163,664 167,722 Revocable lending commitments 43,448 44,327 Contingent liabilities 48,369 51,605 Total 255,481 263,654 |
Other Commitments and Contingent Liabilities [text block table] | in € m. Jun 30, 2019 Dec 31, 2018 Other commitments 103 130 Other contingent liabilities 78 74 Total 182 204 |
Related Party Transactions (Tab
Related Party Transactions (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
Related Party Transactions [Abstract] | |
Loans Issued and Guarantees Granted (Transactions with Subsidiaries, Joint Ventures and Associates) [text block table] | Loans issued and guarantees granted in € m. Jun 30, 2019 Dec 31, 2018 Loans outstanding, beginning of period 228 256 Movement in loans during the period 1 2 (21 ) Changes in the group of consolidated companies 0 0 Exchange rate changes/other 0 (7 ) Loans outstanding, end of period 2 230 228 Other credit risk related transactions: Allowance for loan losses 0 0 Provision for loan losses 0 0 Guarantees and commitments 3 3 1 Net impact of loans issued and loans repayment during the year is shown as "Movement in loans during the period". 2 There were no past due loans as of June 30, 2019 and December 31, 201 8 . For the above loans, the Group held collateral of € 5 million and € 14 million as of June 30, 2019 and December 31, 2018, respectively. |
Deposits Received (Transactions with Subsidiaries, Joint Ventures and Associates) [text block table] | Deposits received in € m. Jun 30, 2019 Dec 31, 2018 Deposits, beginning of period 68 67 Movement in deposits during the period 1 (22 ) 2 Changes in the group of consolidated companies 0 0 Exchange rate changes/other 0 (0 ) Deposits, end of period 47 68 1 N et impact of deposits received and deposits repaid during the year is shown as "Movement in deposits during the period". |
Management Report - Segment R_2
Management Report - Segment Results of Operations (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
Segment Results of Operations [Abstract] | |
Segment Results of Operations [text block table] | Three months ended Jun 30, 2019 in € m. Corporate & Private & Asset Corporate & Total Net revenues 2,942 2,486 593 182 6,203 Provision for credit losses 72 87 0 2 161 Noninterest expenses: Compensation and benefits 890 973 228 723 2,813 General and administrative expenses 2,343 1,136 217 (606 ) 3,089 Impairment of goodwill and other intangible assets 491 545 0 0 1,035 Restructuring activities 36 (13 ) 27 0 50 Total noninterest expenses 3,759 2,640 471 117 6,987 Noncontrolling interests 18 (0 ) 33 (51 ) 0 Profit (loss) before tax (907 ) (241 ) 89 113 (946 ) N/M - Not meaningful Three months ended Jun 30, 2018 in € m. Corporate & Private & Asset Corporate & Total Net revenues 3,578 2,542 561 (91 ) 6,590 Provision for credit losses 11 86 (1 ) (2 ) 95 Noninterest expenses: Compensation and benefits 1,054 1,003 194 800 3,050 General and administrative expenses 1,858 1,181 240 (727 ) 2,552 Impairment of goodwill and other intangible assets 0 0 0 0 0 Restructuring activities 160 11 7 5 182 Total noninterest expenses 3,071 2,194 441 77 5,784 Noncontrolling interests 21 0 26 (48 ) 0 Profit (loss) before tax 475 262 93 (119 ) 711 N/M - Not meaningful Six months ended in € m. Corporate & Private & Asset Corporate & Total Net revenues 6,270 4,999 1,118 166 12,554 Provision for credit losses 95 204 0 2 301 Noninterest expenses: Compensation and benefits 1,852 1,946 427 1,453 5,679 General and administrative expenses 4,766 2,297 413 (1,316 ) 6,159 Impairment of goodwill and other intangible assets 491 545 0 0 1,035 Restructuring activities 43 (39 ) 29 0 33 Total noninterest expenses 7,151 4,749 869 137 12,906 Noncontrolling interests 19 (0 ) 64 (82 ) 0 Profit (loss) before tax (995 ) 46 185 109 (654 ) N/M - Not meaningful Six months ended in € m. Corporate & Private & Asset Corporate & Total Net revenues 7,424 5,182 1,106 (144 ) 13,567 Provision for credit losses 8 174 (0 ) 0 183 Noninterest expenses: Compensation and benefits 2,114 1,982 389 1,566 6,052 General and administrative expenses 4,426 2,445 516 (1,379 ) 6,008 Impairment of goodwill and other intangible assets 0 0 0 0 0 Restructuring activities 174 (7 ) 9 5 181 Total noninterest expenses 6,714 4,421 914 192 12,241 Noncontrolling interests 24 0 26 (51 ) 0 Profit (loss) before tax 678 586 165 (286 ) 1,143 N/M - Not meaningful |
Segment Results of Operations, Corporate & Investment Bank [text block table] | Corporate & Investment Bank (CIB) Three months ended Six months ended in € m. Jun 30, 2019 Jun 30, 2018 Absolute Change Jun 30, 2019 Jun 30, 2018 Absolute Change Net revenues: Global Transaction Banking 949 1,008 (59 ) (6 ) 1,924 1,926 (2 ) (0 ) Equity Origination 75 108 (32 ) (30 ) 118 183 (65 ) (35 ) Debt Origination 241 316 (75 ) (24 ) 530 633 (102 ) (16 ) Advisory 91 153 (62 ) (41 ) 212 241 (28 ) (12 ) Origination and Advisory 407 577 (170 ) (30 ) 861 1,057 (195 ) (18 ) Sales & Trading (Equity) 369 540 (172 ) (32 ) 837 1,111 (275 ) (25 ) Sales & Trading (FIC) 1,320 1,372 (52 ) (4 ) 2,836 3,255 (419 ) (13 ) Sales & Trading 1,689 1,912 (224 ) (12 ) 3,672 4,366 (694 ) (16 ) Other (103 ) 81 (183 ) N/M (187 ) 75 (262 ) N/M Total net revenues 2,942 3,578 (636 ) (18 ) 6,270 7,424 (1,153 ) (16 ) Provision for credit losses 72 11 61 N/M 95 8 87 N/M Noninterest expenses: Compensation and benefits 890 1,054 (164 ) (16 ) 1,852 2,114 (263 ) (12 ) General and administrative expenses 2,343 1,858 485 26 4,766 4,426 340 8 Impairment of goodwill and other intangible assets 491 0 491 N/M 491 0 491 N/M Restructuring activities 36 160 (124 ) (78 ) 43 174 (131 ) (75 ) Total noninterest expenses 3,759 3,071 688 22 7,151 6,714 438 7 Noncontrolling interests 18 21 (3 ) (16 ) 19 24 (5 ) (22 ) Profit (loss) before tax (907 ) 475 (1,381 ) N/M (995 ) 678 (1,672 ) N/M Total Assets (in € bn, as of quarter-end) 1,077 1,077 (0 ) (0 ) 1,077 1,077 (0 ) (0 ) Loans (gross of allowance for loan losses, in € bn, as of quarter-end) 143 128 15 12 143 128 15 12 Employees (full-time equivalent, as of quarter-end) 17,238 17,052 185 1 17,238 17,052 185 1 N/M - Not meaningful |
Segment Results of Operations, Private & Commercial Bank [text block table] | Private & Commercial Bank (PCB) Three months ended Six months ended in € m. Jun 30, 2019 Jun 30, 2018 Absolute Change Jun 30, 2019 Jun 30, 2018 Absolute Change Net revenues: Private and Commercial Business (Germany) 1,670 1,635 36 2 3,377 3,471 (94 ) (3 ) Private and Commercial Business (International) 1 366 376 (10 ) (3 ) 725 750 (25 ) (3 ) Wealth Management (Global) 429 470 (41 ) (9 ) 856 896 (40 ) (4 ) Exited businesses 2 21 62 (41 ) (67 ) 41 65 (24 ) (37 ) Total net revenues 2,486 2,542 (57 ) (2 ) 4,999 5,182 (183 ) (4 ) Of which: Net interest income 1,510 1,516 (6 ) (0 ) 2,988 3,001 (13 ) (0 ) Commissions and fee income 775 793 (19 ) (2 ) 1,595 1,661 (66 ) (4 ) Remaining income 201 233 (32 ) (14 ) 416 520 (104 ) (20 ) Provision for credit losses 87 86 1 1 204 174 29 17 Noninterest expenses: Compensation and benefits 973 1,003 (30 ) (3 ) 1,946 1,982 (36 ) (2 ) General and administrative expenses 1,136 1,181 (46 ) (4 ) 2,297 2,445 (149 ) (6 ) Impairment of goodwill and other intangible assets 545 0 545 N/M 545 0 545 N/M Restructuring activities (13 ) 11 (23 ) N/M (39 ) (7 ) (32 ) N/M Total noninterest expenses 2,640 2,194 446 20 4,749 4,421 328 7 Noncontrolling interests (0 ) 0 (0 ) N/M (0 ) 0 (0 ) N/M Profit (loss) before tax (241 ) 262 (503 ) N/M 46 586 (540 ) (92 ) Total Assets (in € bn, as of quarter-end) 345 338 7 2 345 338 7 2 Loans (gross of allowance for loan losses, in € bn, as of quarter-end) 272 268 5 2 272 268 5 2 Assets under Management (in € bn, as of quarter-end) 505 503 2 0 505 503 2 0 Employees (full-time equivalent, as of quarter-end) 40,932 43,614 (2,682 ) (6 ) 40,932 43,614 (2,682 ) (6 ) N/M - Not meaningful 1 Covers operations in Belgium, India, Italy and Spain. 2 Covers operations in Poland and Portugal as well as Private Client Services (PCS) and Hua Xia in historical periods. |
Segment Results of Operations, Deutsche Asset Management [text block table] | Asset Management (AM) Three months ended Six months ended in € m. Jun 30, 2019 Jun 30, 2018 Absolute Change Jun 30, 2019 Jun 30, 2018 Absolute Change Net revenues: Management Fees 539 530 9 2 1,048 1,062 (14 ) (1 ) Performance and transaction fees 66 29 36 124 77 47 29 62 Other revenues (11 ) 1 (12 ) N/M (7 ) (3 ) (3 ) 100 Total net revenues 593 561 33 6 1,118 1,106 13 1 Provision for credit losses 0 (1 ) 1 N/M 0 (0 ) 0 N/M Total noninterest expenses: Compensation and benefits 228 194 33 17 427 389 39 10 General and administrative expenses 217 240 (23 ) (10 ) 413 516 (103 ) (20 ) Impairment of goodwill and other intangible assets 0 0 0 N/M 0 0 0 N/M Restructuring activities 27 7 20 N/M 29 9 19 N/M Total noninterest expenses 471 441 30 7 869 914 (45 ) (5 ) Noncontrolling interests 33 26 6 25 64 26 37 141 Profit (loss) before tax 89 93 (4 ) (5 ) 185 165 20 12 Total Assets (in € bn, as of quarter-end) 10 10 (0 ) (2 ) 10 10 (0 ) (2 ) Assets under Management (in € bn, as of quarter-end) 721 692 29 4 721 692 29 4 Employees (full-time equivalent, as of quarter-end) 3,998 4,027 (29 ) (1 ) 3,998 4,027 (29 ) (1 ) N/M - Not meaningful |
Segment Results of Operations, Corporate & Other [text block table] | Corporate & Other (C&O) Three months ended Six months ended in € m. Jun 30, 2019 Jun 30, 2018 Absolute Change Jun 30, 2019 Jun 30, 2018 Absolute Change Net revenues 182 (91 ) 273 N/M 166 (144 ) 311 N/M Provision for credit losses 2 (2 ) 4 N/M 2 0 2 N/M Noninterest expenses: Compensation and benefits 723 800 (77 ) (10 ) 1,453 1,566 (113 ) (7 ) General and administrative expenses (606 ) (727 ) 121 (17 ) (1,316 ) (1,379 ) 63 (5 ) Impairment of goodwill and other intangible assets 0 0 0 N/M 0 0 0 N/M Restructuring activities 0 5 (5 ) N/M 0 5 (5 ) N/M Total noninterest expenses 117 77 40 52 137 192 (54 ) (28 ) Noncontrolling interests (51 ) (48 ) (3 ) 6 (82 ) (51 ) (32 ) 62 Profit (loss) before tax 113 (119 ) 232 N/M 109 (286 ) 395 N/M N/M - Not meaningful |
Basis of Preparation_impact of
Basis of Preparation/impact of changes in accounting principles - Basis of Preparation (Detail: Text Values) € in Millions | 6 Months Ended |
Jun. 30, 2019EUR (€) | |
Leasing approach (ii): Difference between the right-of-use asset and the lease liability [Abstract] | |
Total equity adjustment due to elected approach (ii) for larger property leases, net of tax | € 137 |
Derecognition of provisions previously recognized for onerous operating leases [Abstract] | |
Related increase in the balance sheet | 3,200 |
Derecognition of accrued operating liabilities [Abstract] | |
Related increase in the balance sheet | 3,600 |
Overall reduction in retained earnings, net of tax | € 136 |
Basis of Preparation_impact o_2
Basis of Preparation/impact of changes in accounting principles - Transitional Table Leasing IFRS 16 (Detail) € in Millions | Dec. 31, 2018EUR (€) | |
Transitional Table Leasing IFRS16 [Line Items] | ||
Operating lease commitments as of December 31, 2018 | € 6,264 | |
Recognition exemptions adopted for: [Abstract] | ||
Recognition exemptions adopted for short-term leases and leases of low-value assets | (35) | |
Adjustments as a result of a different treatment of extension and termination options | 376 | |
Operating lease commitments regarding contracts not yet commenced | (2,819) | |
Other | 97 | [1] |
Undiscounted future lease payments as of January 1, 2019 | 3,884 | |
Discounting (weighted average incremental borrowing rate of 2.18%) | (310) | |
Lease liabilities due to initial application of IFRS 16, recognized as of January 1, 2019 | 3,575 | |
Lease liabilities from finance leases as of January 1, 2019 | 27 | |
Total lease liabilities recognized at January 1, 2019 | € 3,601 | |
[1] | Mainly de-scoped or terminated leases, operating expenses, utility costs, VAT, sale-and-leaseback transactions |
Deutsche Bank's Transformation
Deutsche Bank's Transformation - Impairment of goodwill and other intangible assets - Discount Rates (Detail) | Jun. 30, 2019 | Dec. 31, 2018 |
Global Transaction Banking & Corporate Finance [Member] | ||
Primary Cash-Generating Units [Line Items] | ||
Discount rate (post-tax) | 8.60% | 8.80% |
Wealth Management [Member] | ||
Primary Cash-Generating Units [Line Items] | ||
Discount rate (post-tax) | 8.40% | 9.00% |
Deutsche Bank's Transformatio_2
Deutsche Bank's Transformation - Changes in regulatory capital (Detail) | Jun. 30, 2019EUR (€) |
Regulatory capital as reported after transformation [Member] | |
Deutsche Bank's Transformation - Changes in regulatory capital [LineItems] | |
Common Equity Tier 1 capital | € 46.5 |
Risk-weighted assets (RWA) | € 346.9 |
Common Equity Tier 1 Ratio | 13.40% |
Regulatory capital pro - forma before transformation [Member] | |
Deutsche Bank's Transformation - Changes in regulatory capital [LineItems] | |
Common Equity Tier 1 capital | € 46.8 |
Risk-weighted assets (RWA) | € 347.9 |
Common Equity Tier 1 Ratio | 13.40% |
Deutsche Bank's Transformatio_3
Deutsche Bank's Transformation - Deutsche Banks Transformation (Detail: Text Values) € in Millions | Jun. 30, 2019EUR (€) |
Impairment of goodwill and other intangible assets [Abstract] | |
Recoverable amount for WM | € 1,900 |
Goodwill impairment in WM | 545 |
Recoverable amount for GTB and CF | 10,200 |
Goodwill impairment in GTB and CF | 491 |
Software impairments [Abstract] | |
Impairment from regular quarter-end review | 0 |
Impairment from reassessment | 328 |
of which Impairment from reassessment in CIB | 296 |
of which Impairment from reassessment in PCB | 12 |
of which Impairment from reassessment in Infrastructure | 20 |
Service contract provisions for external vendors | 23 |
Deferred tax asset adjustments | € 2,000 |
Management Report - Segment R_3
Management Report - Segment Results of Operations (Detail) - EUR (€) € in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | |
Segment Results of Operations [Line Items] | ||||
Net revenues | € 6,203 | € 6,590 | € 12,554 | € 13,567 |
Provision for credit losses | 161 | 95 | 301 | 183 |
Noninterest expenses [Abstract] | ||||
Compensation and benefits | 2,813 | 3,050 | 5,679 | 6,052 |
General and administrative expenses | 3,089 | 2,552 | 6,159 | 6,008 |
Impairment of goodwill and other intangible assets | 1,035 | 0 | 1,035 | 0 |
Restructuring activities | 50 | 182 | 33 | 181 |
Total noninterest expenses | 6,987 | 5,784 | 12,906 | 12,241 |
Noncontrolling interests | 0 | 0 | 0 | 0 |
Profit (loss) before tax | (946) | 711 | (654) | 1,143 |
Corporate & Investment Bank [Member] | ||||
Segment Results of Operations [Line Items] | ||||
Net revenues | 2,942 | 3,578 | 6,270 | 7,424 |
Provision for credit losses | 72 | 11 | 95 | 8 |
Noninterest expenses [Abstract] | ||||
Compensation and benefits | 890 | 1,054 | 1,852 | 2,114 |
General and administrative expenses | 2,343 | 1,858 | 4,766 | 4,426 |
Impairment of goodwill and other intangible assets | 491 | 0 | 491 | 0 |
Restructuring activities | 36 | 160 | 43 | 174 |
Total noninterest expenses | 3,759 | 3,071 | 7,151 | 6,714 |
Noncontrolling interests | 18 | 21 | 19 | 24 |
Profit (loss) before tax | (907) | 475 | (995) | 678 |
Private & Commercial Bank [Member] | ||||
Segment Results of Operations [Line Items] | ||||
Net revenues | 2,486 | 2,542 | 4,999 | 5,182 |
Provision for credit losses | 87 | 86 | 204 | 174 |
Noninterest expenses [Abstract] | ||||
Compensation and benefits | 973 | 1,003 | 1,946 | 1,982 |
General and administrative expenses | 1,136 | 1,181 | 2,297 | 2,445 |
Impairment of goodwill and other intangible assets | 545 | 0 | 545 | 0 |
Restructuring activities | (13) | 11 | (39) | (7) |
Total noninterest expenses | 2,640 | 2,194 | 4,749 | 4,421 |
Noncontrolling interests | 0 | 0 | 0 | 0 |
Profit (loss) before tax | (241) | 262 | 46 | 586 |
Asset Management [Member] | ||||
Segment Results of Operations [Line Items] | ||||
Net revenues | 593 | 561 | 1,118 | 1,106 |
Provision for credit losses | 0 | (1) | 0 | 0 |
Noninterest expenses [Abstract] | ||||
Compensation and benefits | 228 | 194 | 427 | 389 |
General and administrative expenses | 217 | 240 | 413 | 516 |
Impairment of goodwill and other intangible assets | 0 | 0 | 0 | 0 |
Restructuring activities | 27 | 7 | 29 | 9 |
Total noninterest expenses | 471 | 441 | 869 | 914 |
Noncontrolling interests | 33 | 26 | 64 | 26 |
Profit (loss) before tax | 89 | 93 | 185 | 165 |
Corporate and Other [Member] | ||||
Segment Results of Operations [Line Items] | ||||
Net revenues | 182 | (91) | 166 | (144) |
Provision for credit losses | 2 | (2) | 2 | 0 |
Noninterest expenses [Abstract] | ||||
Compensation and benefits | 723 | 800 | 1,453 | 1,566 |
General and administrative expenses | (606) | (727) | (1,316) | (1,379) |
Impairment of goodwill and other intangible assets | 0 | 0 | 0 | 0 |
Restructuring activities | 0 | 5 | 0 | 5 |
Total noninterest expenses | 117 | 77 | 137 | 192 |
Noncontrolling interests | (51) | (48) | (82) | (51) |
Profit (loss) before tax | € 113 | € (119) | € 109 | € (286) |
Management Report - Corporate D
Management Report - Corporate Divisions - Corporate & Investment Bank (Detail) - Corporate & Investment Bank [Member] | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2019EUR (€) | Jun. 30, 2018EUR (€) | Jun. 30, 2019EUR (€) | Jun. 30, 2018EUR (€) | |
Net revenues [Abstract] | ||||
Global Transaction Banking | € 949,000,000 | € 1,008,000,000 | € 1,924,000,000 | € 1,926,000,000 |
Equity Origination | 75,000,000 | 108,000,000 | 118,000,000 | 183,000,000 |
Debt Origination | 241,000,000 | 316,000,000 | 530,000,000 | 633,000,000 |
Advisory | 91,000,000 | 153,000,000 | 212,000,000 | 241,000,000 |
Origination and Advisory | 407,000,000 | 577,000,000 | 861,000,000 | 1,057,000,000 |
Sales & Trading (Equity) | 369,000,000 | 540,000,000 | 837,000,000 | 1,111,000,000 |
Sales & Trading (FIC) | 1,320,000,000 | 1,372,000,000 | 2,836,000,000 | 3,255,000,000 |
Sales & Trading | 1,689,000,000 | 1,912,000,000 | 3,672,000,000 | 4,366,000,000 |
Other | (103,000,000) | 81,000,000 | (187,000,000) | 75,000,000 |
Total net revenues | 2,942,000,000 | 3,578,000,000 | 6,270,000,000 | 7,424,000,000 |
Provision for credit losses | 72,000,000 | 11,000,000 | 95,000,000 | 8,000,000 |
Noninterest expenses [Abstract] | ||||
Compensation and benefits | 890,000,000 | 1,054,000,000 | 1,852,000,000 | 2,114,000,000 |
General and administrative expenses | 2,343,000,000 | 1,858,000,000 | 4,766,000,000 | 4,426,000,000 |
Impairment of goodwill and other intangible assets | 491,000,000 | 0 | 491,000,000 | 0 |
Restructuring activities | 36,000,000 | 160,000,000 | 43,000,000 | 174,000,000 |
Total noninterest expenses | 3,759,000,000 | 3,071,000,000 | 7,151,000,000 | 6,714,000,000 |
Noncontrolling interests | 18,000,000 | 21,000,000 | 19,000,000 | 24,000,000 |
Profit (loss) before tax | (907,000,000) | 475,000,000 | (995,000,000) | 678,000,000 |
Total assets (in EUR, as of quarter-end) | 1,077,000,000,000 | 1,077,000,000,000 | 1,077,000,000,000 | 1,077,000,000,000 |
Loans (gross of allowances for loan losses, in EUR, as of quarter-end) | € 143,000,000,000 | € 128,000,000,000 | € 143,000,000,000 | € 128,000,000,000 |
Employees (full-time equivalent, as of quarter-end) | 17,238 | 17,052 | 17,238 | 17,052 |
Management Report - Corporate_2
Management Report - Corporate Divisions - Private & Commercial Bank (Detail) - Private & Commercial Bank [Member] | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2019EUR (€) | Jun. 30, 2018EUR (€) | Jun. 30, 2019EUR (€) | Jun. 30, 2018EUR (€) | ||
Net revenues [Abstract] | |||||
Private & Commercial Business (Germany) | € 1,670,000,000 | € 1,635,000,000 | € 3,377,000,000 | € 3,471,000,000 | |
Private and Commercial Business (International) | [1] | 366,000,000 | 376,000,000 | 725,000,000 | 750,000,000 |
Wealth Management (Global) | 429,000,000 | 470,000,000 | 856,000,000 | 896,000,000 | |
Exited Businesses | [2] | 21,000,000 | 62,000,000 | 41,000,000 | 65,000,000 |
Total net revenues | 2,486,000,000 | 2,542,000,000 | 4,999,000,000 | 5,182,000,000 | |
of which [Abstract] | |||||
Net interest income | 1,510,000,000 | 1,516,000,000 | 2,988,000,000 | 3,001,000,000 | |
Commission and fee income | 775,000,000 | 793,000,000 | 1,595,000,000 | 1,661,000,000 | |
Remaining income | 201,000,000 | 233,000,000 | 416,000,000 | 520,000,000 | |
Provision for credit losses | 87,000,000 | 86,000,000 | 204,000,000 | 174,000,000 | |
Noninterest expenses [Abstract] | |||||
Compensation and benefits | 973,000,000 | 1,003,000,000 | 1,946,000,000 | 1,982,000,000 | |
General and administrative expenses | 1,136,000,000 | 1,181,000,000 | 2,297,000,000 | 2,445,000,000 | |
Impairment of goodwill and other intangible assets | 545,000,000 | 0 | 545,000,000 | 0 | |
Restructuring activities | (13,000,000) | 11,000,000 | (39,000,000) | (7,000,000) | |
Total noninterest expenses | 2,640,000,000 | 2,194,000,000 | 4,749,000,000 | 4,421,000,000 | |
Noncontrolling interests | 0 | 0 | 0 | 0 | |
Profit (loss) before tax | (241,000,000) | 262,000,000 | 46,000,000 | 586,000,000 | |
Total assets (in EUR, as of quarter-end) | 345,000,000,000 | 338,000,000,000 | 345,000,000,000 | 338,000,000,000 | |
Loans (gross of allowances for loan losses, in EUR, as of quarter-end) | 272,000,000,000 | 268,000,000,000 | 272,000,000,000 | 268,000,000,000 | |
Assets under Management (in EUR, as of quarter-end) | € 505,000,000,000 | € 503,000,000,000 | € 505,000,000,000 | € 503,000,000,000 | |
Employees (full-time equivalent, as of quarter-end) | 40,932 | 43,614 | 40,932 | 43,614 | |
[1] | Covers operations in Belgium, India, Italy and Spain. | ||||
[2] | Covers operations in Poland and Portugal as well as Private Client Services (PCS) and Hua Xia in historical periods. |
Management Report - Corporate_3
Management Report - Corporate Divisions - Deutsche Asset Management (Detail) - Asset Management [Member] | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2019EUR (€) | Jun. 30, 2018EUR (€) | Jun. 30, 2019EUR (€) | Jun. 30, 2018EUR (€) | |
Net revenues [Abstract] | ||||
Management Fees | € 539,000,000 | € 530,000,000 | € 1,048,000,000 | € 1,062,000,000 |
Performance and transaction fees | 66,000,000 | 29,000,000 | 77,000,000 | 47,000,000 |
Other revenues | (11,000,000) | 1,000,000 | (7,000,000) | (3,000,000) |
Total net revenues | 593,000,000 | 561,000,000 | 1,118,000,000 | 1,106,000,000 |
Provision for credit losses | 0 | (1,000,000) | 0 | 0 |
Noninterest expenses [Abstract] | ||||
Compensation and benefits | 228,000,000 | 194,000,000 | 427,000,000 | 389,000,000 |
General and administrative expenses | 217,000,000 | 240,000,000 | 413,000,000 | 516,000,000 |
Impairment of goodwill and other intangible assets | 0 | 0 | 0 | 0 |
Restructuring activities | 27,000,000 | 7,000,000 | 29,000,000 | 9,000,000 |
Total noninterest expenses | 471,000,000 | 441,000,000 | 869,000,000 | 914,000,000 |
Noncontrolling interests | 33,000,000 | 26,000,000 | 64,000,000 | 26,000,000 |
Profit (loss) before tax | 89,000,000 | 93,000,000 | 185,000,000 | 165,000,000 |
Total assets (in EUR, as of quarter-end) | 10,000,000,000 | 10,000,000,000 | 10,000,000,000 | 10,000,000,000 |
Assets under Management (in EUR, as of quarter-end) | € 721,000,000,000 | € 692,000,000,000 | € 721,000,000,000 | € 692,000,000,000 |
Employees (full-time equivalent, as of quarter-end) | 3,998 | 4,027 | 3,998 | 4,027 |
Management Report - Corporate_4
Management Report - Corporate Divisions - C & O (Detail) - Corporate and Other [Member] - EUR (€) € in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | |
Consolidations & Adjustments [Line Items] | ||||
Net revenues | € 182 | € (91) | € 166 | € (144) |
Provision for credit losses | 2 | (2) | 2 | 0 |
Noninterest expenses [Abstract] | ||||
Compensation and benefits | 723 | 800 | 1,453 | 1,566 |
General and administrative expenses | (606) | (727) | (1,316) | (1,379) |
Impairment of goodwill and other intangible assets | 0 | 0 | 0 | 0 |
Restructuring activities | 0 | 5 | 0 | 5 |
Total noninterest expenses | 117 | 77 | 137 | 192 |
Noncontrolling interests | (51) | (48) | (82) | (51) |
Profit (loss) before tax | € 113 | € (119) | € 109 | € (286) |
Net Interest Income and Net G_3
Net Interest Income and Net Gains (Losses) on Financial Assets/Liabilities at Fair Value through Profit or Loss (Detail) - EUR (€) € in Millions | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | ||
Net Interest Income and Net Gains (Losses) on Financial Assets/Liabilities at Fair Value through Profit or Loss [Line Items] | |||||
Net interest income | [1] | € 3,630 | € 3,465 | € 6,933 | € 6,415 |
Trading income | [2] | 148 | (175) | 985 | 867 |
Net gains (losses) on non-trading financial assets mandatory at fair value through profit or loss | 189 | 46 | 319 | 24 | |
Net gains (losses) on financial assets/liabilities designated at fair value through profit or loss | (124) | 275 | (322) | 405 | |
Total net gains (losses) on financial assets/liabilities at fair value through profit or loss | 213 | 147 | 982 | 1,296 | |
Total net interest income and net gains (losses) on financial assets/liabilities at fair value through profit or loss | 3,844 | 3,612 | 7,916 | 7,712 | |
Sales & Trading (Equity) | 237 | 426 | 615 | 865 | |
Sales & Trading (FIC) | 1,375 | 1,254 | 3,039 | 2,949 | |
Total Sales & Trading | 1,613 | 1,680 | 3,654 | 3,814 | |
Global Transaction Banking | 481 | 443 | 975 | 906 | |
Remaining Products | (210) | (14) | (381) | (165) | |
Corporate & Investment Bank | 1,884 | 2,109 | 4,247 | 4,555 | |
Private & Commercial Bank | 1,561 | 1,573 | 3,098 | 3,103 | |
Asset Management | (1) | 18 | 39 | (20) | |
Corporate & Other | 400 | (88) | 532 | 74 | |
Total net interest income and net gains (losses) on financial assets/liabilities at fair value through profit or loss | € 3,844 | € 3,612 | € 7,916 | € 7,712 | |
[1] | Prior period comparatives have been restated. EUR35million and EUR73million were reclassified from Net interest income to Commission and fee Income for the three months and six months ended June 30, 2018, respectively. | ||||
[2] | Trading income includes gains and losses from derivatives not qualifying for hedge accounting. |
Net Interest Income and Net G_4
Net Interest Income and Net Gains (Losses) on Financial Assets/Liabilities at Fair Value through P&L (Detail: Text Values) - EUR (€) € in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | |
Net Interest Income [Abstract] | ||||
Reclassification from Net interest income to Commission and fee Income | € 0 | € 35 | € 0 | € 73 |
Net interest income related to government grants under the Targeted Longer-Term Refinancing Operations II (TLTRO II)-program | € 23 | € 23 | € 46 | € 46 |
Commissions and Fee Income - Di
Commissions and Fee Income - Disaggregation of revenues by product type and business segment - based on IFRS 15 (Detail) - EUR (€) € in Millions | 3 Months Ended | 6 Months Ended | ||||
Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | |||
Total Consolidated Segments [Domain Member] | ||||||
Major type of services: [Abstract] | ||||||
Commissions for administration | € 136 | € 147 | € 264 | € 292 | ||
Commissions for assets under management | 903 | 882 | 1,715 | 1,778 | ||
Commissions for other securities | 96 | 83 | 173 | 160 | ||
Underwriting and advisory fees | 426 | 503 | 836 | 963 | ||
Brokerage fees | 528 | 546 | 1,055 | 1,236 | ||
Commissions for local payments | 362 | 361 | 726 | 721 | ||
Commissions for foreign commercial business | 145 | 156 | 293 | 311 | ||
Commissions for foreign currency/exchange business | 3 | 4 | 7 | 7 | ||
Commissions for loan processing and guarantees | 232 | 260 | 484 | 513 | ||
Intermediary fees | 128 | 131 | 260 | 261 | ||
Fees for sundry other customer services | 228 | 292 | 449 | 556 | ||
Total fee and commissions income | 3,188 | 3,364 | 6,260 | 6,797 | ||
Gross expense | (711) | (730) | (1,407) | (1,511) | ||
Net fees and commissions | 2,484 | 2,634 | 4,865 | 5,286 | ||
Corporate & Investment Bank [Member] | ||||||
Major type of services: [Abstract] | ||||||
Commissions for administration | 68 | 78 | [1] | 132 | 150 | [2] |
Commissions for assets under management | 5 | 18 | [1] | 11 | 32 | [2] |
Commissions for other securities | 88 | 75 | [1] | 158 | 142 | [2] |
Underwriting and advisory fees | 423 | 504 | [1] | 836 | 973 | [2] |
Brokerage fees | 270 | 305 | [1] | 527 | 674 | [2] |
Commissions for local payments | 101 | 103 | [1] | 202 | 209 | [2] |
Commissions for foreign commercial business | 114 | 120 | [1] | 231 | 241 | [2] |
Commissions for foreign currency/exchange business | 2 | 2 | [1] | 3 | 4 | [2] |
Commissions for loan processing and guarantees | 158 | 178 | [1] | 336 | 352 | [2] |
Intermediary fees | 1 | 1 | [1] | 2 | 5 | [2] |
Fees for sundry other customer services | 146 | 201 | [1] | 282 | 380 | [2] |
Total fee and commissions income | 1,375 | 1,584 | [1] | 2,721 | 3,163 | [2] |
Private & Commercial Bank [Member] | ||||||
Major type of services: [Abstract] | ||||||
Commissions for administration | 62 | 64 | 121 | 131 | ||
Commissions for assets under management | 72 | 63 | 140 | 130 | ||
Commissions for other securities | 7 | 7 | 15 | 16 | ||
Underwriting and advisory fees | 4 | 6 | 9 | 10 | ||
Brokerage fees | 237 | 215 | 493 | 516 | ||
Commissions for local payments | 261 | 258 | 524 | 512 | ||
Commissions for foreign commercial business | 31 | 36 | 63 | 71 | ||
Commissions for foreign currency/exchange business | 2 | 2 | 4 | 4 | ||
Commissions for loan processing and guarantees | 73 | 82 | 145 | 161 | ||
Intermediary fees | 125 | 127 | 251 | 250 | ||
Fees for sundry other customer services | 52 | 60 | 105 | 119 | ||
Total fee and commissions income | 927 | 920 | 1,868 | 1,918 | ||
Asset Management [Member] | ||||||
Major type of services: [Abstract] | ||||||
Commissions for administration | 6 | 6 | 11 | 12 | ||
Commissions for assets under management | 824 | 801 | 1,563 | 1,617 | ||
Commissions for other securities | 1 | 1 | 1 | 2 | ||
Underwriting and advisory fees | 0 | 0 | 0 | 0 | ||
Brokerage fees | 20 | 26 | 33 | 45 | ||
Commissions for local payments | 0 | 0 | 0 | 0 | ||
Commissions for foreign commercial business | 0 | 0 | 0 | 0 | ||
Commissions for foreign currency/exchange business | 0 | 0 | 0 | 0 | ||
Commissions for loan processing and guarantees | 0 | 0 | 0 | 0 | ||
Intermediary fees | 0 | 0 | 0 | 0 | ||
Fees for sundry other customer services | 30 | 31 | 62 | 56 | ||
Total fee and commissions income | 881 | 865 | 1,669 | 1,731 | ||
Corporate & Other [Member] | ||||||
Major type of services: [Abstract] | ||||||
Commissions for administration | 0 | 0 | 0 | (1) | ||
Commissions for assets under management | 1 | 0 | 1 | 0 | ||
Commissions for other securities | 0 | 0 | 0 | 0 | ||
Underwriting and advisory fees | (1) | (7) | (9) | (21) | ||
Brokerage fees | 1 | 0 | 2 | 0 | ||
Commissions for local payments | 0 | 0 | 0 | (1) | ||
Commissions for foreign commercial business | 0 | 0 | 0 | 0 | ||
Commissions for foreign currency/exchange business | 0 | 0 | 0 | 0 | ||
Commissions for loan processing and guarantees | 1 | 0 | 2 | 1 | ||
Intermediary fees | 2 | 3 | 6 | 7 | ||
Fees for sundry other customer services | 0 | 1 | 0 | 1 | ||
Total fee and commissions income | € 4 | € (4) | € 2 | € (15) | ||
[1] | Prior period comparatives have been restated. EUR35million for the three months ended June 30, 2018 were reclassified from Commission and Fee Income to Net interest income. | |||||
[2] | Prior period comparatives have been restated. EUR73million for the six months ended June 30, 2018 were reclassified from Commission and Fee Income to Net interest income |
Commissions and Fee Income - _2
Commissions and Fee Income - Disaggregation of revenues by product type and business segment - based on IFRS 15 (Detail: Text values) - EUR (€) € in Millions | 3 Months Ended | 6 Months Ended | |
Jun. 30, 2018 | Jun. 30, 2018 | Jun. 30, 2019 | |
Disaggregation of revenues by product type and business segment - based on IFRS 15 [Abstract] | |||
Reclassification from Commission and fee Income to Net interest income | € 35 | € 73 | |
Balance of receivables from commission and fee income | € 846 | ||
Balance of contract liabilities associated to commission and fee income | € 171 |
Restructuring - Net Restructuri
Restructuring - Net Restructuring Expense by Division (Detail) - EUR (€) € in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | |
Corporate & Investment Bank [Member] | ||||
Net Restructuring Expense by Division [Line Items] | ||||
Total Net Restructuring Charges | € 36 | € 160 | € 43 | € 174 |
Private & Commercial Bank [Member] | ||||
Net Restructuring Expense by Division [Line Items] | ||||
Total Net Restructuring Charges | (13) | 11 | (39) | (7) |
Asset Management [Member] | ||||
Net Restructuring Expense by Division [Line Items] | ||||
Total Net Restructuring Charges | 27 | 7 | 29 | 9 |
Total Net Restructuring Charges [Member] | ||||
Net Restructuring Expense by Division [Line Items] | ||||
Total Net Restructuring Charges | € 50 | € 182 | € 33 | € 181 |
Restructuring - Net Restructu_2
Restructuring - Net Restructuring by Type (Detail) - EUR (€) € in Millions | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | ||
Net Restructuring by Type | |||||
Restructuring, Staff related | € 50 | € 181 | € 34 | € 184 | |
of which [Abstract] | |||||
Termination Payments | 42 | 90 | 23 | 85 | |
Retention Acceleration | 8 | 86 | 11 | 94 | |
Social Security | 0 | 5 | 0 | 5 | |
Restructuring, Non Staff related | [1] | 0 | 1 | (1) | (3) |
Total Net Restructuring Charges | € 50 | € 182 | € 33 | € 181 | |
[1] | Contract costs, mainly related to real estate and technology |
Restructuring - Net Restructu_3
Restructuring - Net Restructuring Expense by Division (Detail: Text Values) € in Millions | Jun. 30, 2019EUR (€) |
Net Restructuring Expense by Division | |
Provisions for restructuring | € 499 |
Provisions for restructuring previous quarter | € 530 |
Restructuring - Organizational
Restructuring - Organizational Changes (Detail) | 3 Months Ended | 6 Months Ended |
Jun. 30, 2019 | Jun. 30, 2019 | |
Corporate & Investment Bank [Member] | ||
Organizational Changes [Line Items] | ||
Total full-time equivalent staff | 132 | 159 |
Private & Commercial Bank [Member] | ||
Organizational Changes [Line Items] | ||
Total full-time equivalent staff | 23 | 140 |
Asset Management [Member] | ||
Organizational Changes [Line Items] | ||
Total full-time equivalent staff | 49 | 60 |
Infrastructure [Member] | ||
Organizational Changes [Line Items] | ||
Total full-time equivalent staff | 99 | 202 |
Total full-time equivalent staff [Member] | ||
Organizational Changes [Line Items] | ||
Total full-time equivalent staff | 302 | 561 |
Effective Tax Rate (Detail_ Tex
Effective Tax Rate (Detail: Text Values) | 3 Months Ended | 6 Months Ended |
Jun. 30, 2018 | Jun. 30, 2018 | |
Effective Tax Rate [Abstract] | ||
Effective tax rate | 44.00% | 54.00% |
Financial Instruments carried_3
Financial Instruments carried at Fair Value - Carrying Value of The Financial Instruments held at Fair Value (Detail) - EUR (€) € in Millions | Jun. 30, 2019 | Dec. 31, 2018 | |
Quoted prices in active market (Level 1) | |||
Financial assets held at fair value: | |||
Trading assets | [1] | € 86,868 | € 75,415 |
Trading securities, assets | [1] | 86,715 | 75,210 |
Other trading assets | [1] | 152 | 205 |
Positive market values from derivative financial instruments | [1] | 8,001 | 10,140 |
Non-trading financial assets mandatory at fair value through profit and loss | [1] | 4,235 | 8,288 |
Financial assets designated at fair value through profit or loss | [1] | 0 | 104 |
Financial assets at fair value through other comprehensive income | [1] | 33,912 | 32,517 |
Other financial assets at fair value | [1] | 3 | 42 |
Total financial assets held at fair value | [1] | 133,019 | 126,505 |
Financial liabilities held at fair value: | |||
Trading liabilities | [1] | 41,615 | 42,548 |
Trading securities, liabilities | [1] | 41,608 | 42,547 |
Other trading liabilities | [1] | 7 | 1 |
Negative market values from derivative financial instruments | [1] | 10,103 | 9,638 |
Financial liabilities designated at fair value through profit or loss | [1] | 0 | 119 |
Investment contract liabilities | [1] | 0 | 0 |
Other financial liabilities at fair value | [1] | 469 | 201 |
Total financial liabilities held at fair value | [1] | 52,186 | 52,505 |
Valuation technique observable parameters (Level 2) | |||
Financial assets held at fair value: | |||
Trading assets | [1] | 66,376 | 67,560 |
Trading securities, assets | [1] | 59,856 | 61,424 |
Other trading assets | [1] | 6,520 | 6,136 |
Positive market values from derivative financial instruments | [1] | 349,052 | 301,609 |
Non-trading financial assets mandatory at fair value through profit and loss | [1] | 92,034 | 86,090 |
Financial assets designated at fair value through profit or loss | [1] | 0 | 0 |
Financial assets at fair value through other comprehensive income | [1] | 15,603 | 18,397 |
Other financial assets at fair value | [1],[2] | 3,166 | 2,779 |
Total financial assets held at fair value | [1] | 526,230 | 476,435 |
Financial liabilities held at fair value: | |||
Trading liabilities | [1] | 16,763 | 17,361 |
Trading securities, liabilities | [1] | 16,480 | 17,082 |
Other trading liabilities | [1] | 283 | 279 |
Negative market values from derivative financial instruments | [1] | 328,985 | 285,561 |
Financial liabilities designated at fair value through profit or loss | [1] | 49,303 | 51,617 |
Investment contract liabilities | [1] | 557 | 512 |
Other financial liabilities at fair value | [1],[2] | 2,203 | 2,658 |
Total financial liabilities held at fair value | [1] | 397,812 | 357,709 |
Valuation technique unobservable parameters (Level 3) | |||
Financial assets held at fair value: | |||
Trading assets | [1] | 9,365 | 9,763 |
Trading securities, assets | [1] | 4,002 | 4,086 |
Other trading assets | [1] | 5,362 | 5,676 |
Positive market values from derivative financial instruments | [1] | 8,955 | 8,309 |
Non-trading financial assets mandatory at fair value through profit and loss | [1] | 5,101 | 6,066 |
Financial assets designated at fair value through profit or loss | [1] | 35 | 0 |
Financial assets at fair value through other comprehensive income | [1] | 444 | 268 |
Other financial assets at fair value | [1] | 254 | 207 |
Total financial assets held at fair value | [1] | 24,153 | 24,614 |
Financial liabilities held at fair value: | |||
Trading liabilities | [1] | 17 | 15 |
Trading securities, liabilities | [1] | 0 | 0 |
Other trading liabilities | [1] | 16 | 15 |
Negative market values from derivative financial instruments | [1] | 7,960 | 6,289 |
Financial liabilities designated at fair value through profit or loss | [1] | 2,514 | 2,021 |
Investment contract liabilities | [1] | 0 | 0 |
Other financial liabilities at fair value | [1],[3] | (378) | (611) |
Total financial liabilities held at fair value | [1] | € 10,113 | € 7,714 |
[1] | Amounts in this table are generally presented on a gross basis, in line with the Groups accounting policy regarding offsetting of financial instruments, as described in Note1 Significant Accounting Policies and Critical Accounting Estimates of the Annual Report 2018. | ||
[2] | Predominantly relates to derivatives qualifying for hedge accounting. | ||
[3] | Relates to derivatives which are embedded in contracts where the host contract is held at amortized cost but for which the embedded derivative is separated. The separated embedded derivatives may have a positive or a negative fair value but have been presented in this table to be consistent with the classification of the host contract. The separated embedded derivatives are held at fair value on a recurring basis and have been split between the fair value hierarchy classifications. |
Financial Instruments carried_4
Financial Instruments carried at Fair Value - Carrying Value of The Financial Instruments held at Fair Value (Detail: Text Values) € in Millions | Jun. 30, 2019EUR (€) |
Carrying Value of The Financial Instruments held at Fair Value | |
Net transfer of financial assets held at fair value into Level 2 from Level 3 | € 1,200 |
Net transfer of financial liabilities held at fair value into Level 3 from Level 2 | € 700 |
Financial Instruments carried_5
Financial Instruments carried at Fair Value - Reconciliation of Financial Instruments Categorized in Level 3 (Detail) - EUR (€) € in Millions | Jun. 30, 2019 | Jun. 30, 2018 | |||
Balance, beginning of period [Member] | |||||
Financial assets held at fair value [Abstract] | |||||
Trading securities, assets | € 4,086 | € 4,148 | |||
Positive market values from derivative financial instruments | 8,309 | 7,340 | |||
Other trading assets | 5,676 | 4,426 | |||
Non-trading financial assets mandatory at fair value through profit and loss | 6,066 | 4,573 | |||
Financial assets designated at fair value through profit or loss | 0 | 91 | |||
Financial assets at fair value through other comprehensive income | 268 | 231 | |||
Other financial assets at fair value | 207 | 47 | |||
Total financial assets held at fair value | 24,614 | 20,855 | |||
Financial liabilities held at fair value Abstract, Gains or Losses | |||||
Trading securities, liabilities | 0 | 2 | |||
Negative market values from derivative financial instruments | 6,289 | 5,992 | |||
Other trading liabilities | 15 | 0 | |||
Financial liabilities designated at fair value through profit or loss | 2,021 | 1,444 | |||
Other financial liabilities at fair value | (611) | (298) | |||
Total financial liabilities held at fair value | 7,714 | 7,139 | |||
Changes in the group of consolidated companies [Member] | |||||
Financial assets held at fair value [Abstract] | |||||
Trading securities, assets | 0 | 0 | |||
Positive market values from derivative financial instruments | 20 | 0 | |||
Other trading assets | (75) | 0 | |||
Non-trading financial assets mandatory at fair value through profit and loss | 0 | 0 | |||
Financial assets designated at fair value through profit or loss | 0 | 0 | |||
Financial assets at fair value through other comprehensive income | 0 | 0 | |||
Other financial assets at fair value | 0 | 0 | |||
Total financial assets held at fair value | (55) | 0 | |||
Financial liabilities held at fair value Abstract, Gains or Losses | |||||
Trading securities, liabilities | 0 | 0 | |||
Negative market values from derivative financial instruments | 0 | 0 | |||
Other trading liabilities | 0 | 0 | |||
Financial liabilities designated at fair value through profit or loss | (77) | 0 | |||
Other financial liabilities at fair value | 0 | 0 | |||
Total financial liabilities held at fair value | (77) | 0 | |||
Total gains/ losses [Member] | |||||
Financial assets held at fair value [Abstract] | |||||
Trading securities, assets | 127 | [1] | 19 | [2] | |
Positive market values from derivative financial instruments | 1,228 | [1] | 471 | [2] | |
Other trading assets | 126 | [1] | 117 | [2] | |
Non-trading financial assets mandatory at fair value through profit and loss | 101 | [1] | 207 | [2] | |
Financial assets designated at fair value through profit or loss | 0 | [1] | (49) | [2] | |
Financial assets at fair value through other comprehensive income | 8 | [1],[3] | (2) | [2],[4] | |
Other financial assets at fair value | 0 | [1] | (3) | [2] | |
Total financial assets held at fair value | [5] | 1,590 | [1],[6] | 761 | [2],[7] |
Financial liabilities held at fair value Abstract, Gains or Losses | |||||
Trading securities, liabilities | 0 | [1] | 1 | [2] | |
Negative market values from derivative financial instruments | 1,322 | [1] | 407 | [2] | |
Other trading liabilities | (1) | [1] | 0 | [2] | |
Financial liabilities designated at fair value through profit or loss | 108 | [1] | (187) | [2] | |
Other financial liabilities at fair value | 222 | [1] | (204) | [2] | |
Total financial liabilities held at fair value | [5] | 1,652 | [1],[6] | 16 | [2],[7] |
Purchases [Member] | |||||
Financial assets held at fair value [Abstract] | |||||
Trading securities, assets | 1,168 | 1,228 | |||
Positive market values from derivative financial instruments | 0 | 0 | |||
Other trading assets | 292 | 606 | |||
Non-trading financial assets mandatory at fair value through profit and loss | 1,071 | 1,413 | |||
Financial assets designated at fair value through profit or loss | 34 | 0 | |||
Financial assets at fair value through other comprehensive income | 210 | 71 | |||
Other financial assets at fair value | 0 | 0 | |||
Total financial assets held at fair value | 2,776 | 3,319 | |||
Financial liabilities held at fair value Abstract, Gains or Losses | |||||
Trading securities, liabilities | 0 | 0 | |||
Negative market values from derivative financial instruments | 0 | 0 | |||
Other trading liabilities | 0 | 0 | |||
Financial liabilities designated at fair value through profit or loss | 0 | 0 | |||
Other financial liabilities at fair value | 0 | 0 | |||
Total financial liabilities held at fair value | 0 | 0 | |||
Sales [Member] | |||||
Financial assets held at fair value [Abstract] | |||||
Trading securities, assets | (1,157) | (1,437) | |||
Positive market values from derivative financial instruments | 0 | 0 | |||
Other trading assets | (782) | (921) | |||
Non-trading financial assets mandatory at fair value through profit and loss | (201) | (414) | |||
Financial assets designated at fair value through profit or loss | 0 | 0 | |||
Financial assets at fair value through other comprehensive income | 0 | (25) | |||
Other financial assets at fair value | 0 | 0 | |||
Total financial assets held at fair value | (2,140) | (2,796) | |||
Financial liabilities held at fair value Abstract, Gains or Losses | |||||
Trading securities, liabilities | 0 | 0 | |||
Negative market values from derivative financial instruments | 0 | 0 | |||
Other trading liabilities | 0 | 0 | |||
Financial liabilities designated at fair value through profit or loss | 0 | 0 | |||
Other financial liabilities at fair value | 0 | 0 | |||
Total financial liabilities held at fair value | 0 | 0 | |||
Issuances [Member] | |||||
Financial assets held at fair value [Abstract] | |||||
Trading securities, assets | [8] | 0 | 0 | ||
Positive market values from derivative financial instruments | [8] | 0 | 0 | ||
Other trading assets | [8] | 924 | 940 | ||
Non-trading financial assets mandatory at fair value through profit and loss | [8] | 348 | 1 | ||
Financial assets designated at fair value through profit or loss | [8] | 0 | 0 | ||
Financial assets at fair value through other comprehensive income | [8] | 0 | 0 | ||
Other financial assets at fair value | [8] | 0 | 0 | ||
Total financial assets held at fair value | [8] | 1,272 | 941 | ||
Financial liabilities held at fair value Abstract, Gains or Losses | |||||
Trading securities, liabilities | [8] | 0 | 0 | ||
Negative market values from derivative financial instruments | [8] | 0 | 0 | ||
Other trading liabilities | [8] | 0 | 0 | ||
Financial liabilities designated at fair value through profit or loss | [8] | 271 | 309 | ||
Other financial liabilities at fair value | [8] | 0 | 0 | ||
Total financial liabilities held at fair value | [8] | 271 | 309 | ||
Settlements [Member] | |||||
Financial assets held at fair value [Abstract] | |||||
Trading securities, assets | [9] | (240) | (318) | ||
Positive market values from derivative financial instruments | [9] | (191) | 9 | ||
Other trading assets | [9] | (649) | (402) | ||
Non-trading financial assets mandatory at fair value through profit and loss | [9] | (1,202) | (780) | ||
Financial assets designated at fair value through profit or loss | [9] | 0 | (23) | ||
Financial assets at fair value through other comprehensive income | [9] | 0 | (7) | ||
Other financial assets at fair value | [9] | 0 | (9) | ||
Total financial assets held at fair value | [9] | (2,282) | (1,530) | ||
Financial liabilities held at fair value Abstract, Gains or Losses | |||||
Trading securities, liabilities | [9] | 0 | 0 | ||
Negative market values from derivative financial instruments | [9] | (156) | 23 | ||
Other trading liabilities | [9] | 0 | 0 | ||
Financial liabilities designated at fair value through profit or loss | [9] | (319) | (107) | ||
Other financial liabilities at fair value | [9] | 23 | 4 | ||
Total financial liabilities held at fair value | [9] | (453) | (80) | ||
Transfers into Level 3 [Member] | |||||
Financial assets held at fair value [Abstract] | |||||
Trading securities, assets | 964 | [10] | 1,087 | [11] | |
Positive market values from derivative financial instruments | 1,910 | [10] | 1,521 | [11] | |
Other trading assets | 428 | [10] | 603 | [11] | |
Non-trading financial assets mandatory at fair value through profit and loss | 734 | [10] | 247 | [11] | |
Financial assets designated at fair value through profit or loss | 0 | [10] | 0 | [11] | |
Financial assets at fair value through other comprehensive income | 99 | [10] | 3 | [11] | |
Other financial assets at fair value | 0 | [10] | 212 | [11] | |
Total financial assets held at fair value | 4,135 | [10] | 3,672 | [11] | |
Financial liabilities held at fair value Abstract, Gains or Losses | |||||
Trading securities, liabilities | 0 | [10] | 120 | [11] | |
Negative market values from derivative financial instruments | 1,961 | [10] | 1,073 | [11] | |
Other trading liabilities | 2 | [10] | 0 | [11] | |
Financial liabilities designated at fair value through profit or loss | 571 | [10] | 17 | [11] | |
Other financial liabilities at fair value | (8) | [10] | 60 | [11] | |
Total financial liabilities held at fair value | 2,525 | [10] | 1,269 | [11] | |
Transfers out of Level 3 [Member] | |||||
Financial assets held at fair value [Abstract] | |||||
Trading securities, assets | (946) | [10] | (835) | [11] | |
Positive market values from derivative financial instruments | (2,321) | [10] | (1,371) | [11] | |
Other trading assets | (579) | [10] | (234) | [11] | |
Non-trading financial assets mandatory at fair value through profit and loss | (1,816) | [10] | (348) | [11] | |
Financial assets designated at fair value through profit or loss | 0 | [10] | (2) | [11] | |
Financial assets at fair value through other comprehensive income | (142) | [10] | (165) | [11] | |
Other financial assets at fair value | 47 | [10] | (32) | [11] | |
Total financial assets held at fair value | (5,757) | [10] | (2,987) | [11] | |
Financial liabilities held at fair value Abstract, Gains or Losses | |||||
Trading securities, liabilities | 0 | [10] | (1) | [11] | |
Negative market values from derivative financial instruments | (1,457) | [10] | (1,182) | [11] | |
Other trading liabilities | 0 | [10] | 0 | [11] | |
Financial liabilities designated at fair value through profit or loss | (60) | [10] | (146) | [11] | |
Other financial liabilities at fair value | (3) | [10] | (39) | [11] | |
Total financial liabilities held at fair value | (1,519) | [10] | (1,368) | [11] | |
Balance, end of period [Member] | |||||
Financial assets held at fair value [Abstract] | |||||
Trading securities, assets | 4,002 | 3,891 | |||
Positive market values from derivative financial instruments | 8,955 | 7,970 | |||
Other trading assets | 5,362 | 5,136 | |||
Non-trading financial assets mandatory at fair value through profit and loss | 5,101 | 4,899 | |||
Financial assets designated at fair value through profit or loss | 35 | 17 | |||
Financial assets at fair value through other comprehensive income | 444 | 106 | |||
Other financial assets at fair value | 254 | 216 | |||
Total financial assets held at fair value | 24,153 | 22,235 | |||
Financial liabilities held at fair value Abstract, Gains or Losses | |||||
Trading securities, liabilities | 0 | 121 | |||
Negative market values from derivative financial instruments | 7,960 | 6,312 | |||
Other trading liabilities | 16 | 0 | |||
Financial liabilities designated at fair value through profit or loss | 2,514 | 1,329 | |||
Other financial liabilities at fair value | (378) | (476) | |||
Total financial liabilities held at fair value | € 10,113 | € 7,286 | |||
[1] | Total gains and losses predominantly relate to net gains (losses) on financial assets/liabilities at fair value through profit or loss reported in the consolidated statement of income. The balance also includes net gains (losses) on financial assets at fair value through other comprehensive income reported in the consolidated statement of income and unrealized net gains (losses) on financial assets at fair value through other comprehensive income and exchange rate changes reported in other comprehensive income, net of tax. Further, certain instruments are hedged with instruments in Level1 or Level2 but the table above does not include the gains and losses on these hedging instruments. Additionally, both observable and unobservable parameters may be used to determine the fair value of an instrument classified within Level3 of the fair value hierarchy; the gains and losses presented below are attributable to movements in both the observable and unobservable parameters. | ||||
[2] | Total gains and losses predominantly relate to net gains (losses) on financial assets/liabilities at fair value through profit or loss reported in the consolidated statement of income. The balance also includes net gains (losses) on financial assets available for sale reported in the consolidated statement of income and unrealized net gains (losses) on financial assets available for sale and exchange rate changes reported in other comprehensive income, net of tax. Further, certain instruments are hedged with instruments in Level1 or Level2 but the table above does not include the gains and losses on these hedging instruments. Additionally, both observable and unobservable parameters may be used to determine the fair value of an instrument classified within Level3 of the fair value hierarchy; the gains and losses presented below are attributable to movements in both the observable and unobservable parameters. | ||||
[3] | Total gains and losses on financial assets mandatory at fair value through OCI include a gain of EUR6million recognized in other comprehensive income. | ||||
[4] | Total gains and losses on financial assets mandatory at fair value through OCI include a loss of EUR6million recognized in other comprehensive income, net of tax and a loss of EUR3million recognized in the income statement presented in net gains (losses). | ||||
[5] | For assets, positive balances represent gains, negative balances represent losses. For liabilities, positive balances represent losses, negative balances represent gains. | ||||
[6] | This amount includes the effect of exchange rate changes. For total financial assets held at fair value this effect is a gain of EUR42million and for total financial liabilities held at fair value this is a loss of EUR6million. The effect of exchange rate changes is reported in accumulated other comprehensive income, net of tax. | ||||
[7] | This amount includes the effect of exchange rate changes. For total financial assets held at fair value this effect is a gain of EUR73million and for total financial liabilities held at fair value this is a loss of EUR19million. The effect of exchange rate changes is reported in accumulated other comprehensive income, net of tax. | ||||
[8] | Issuances relate to the cash amount received on the issuance of a liability and the cash amount paid on the primary issuance of a loan to a borrower. | ||||
[9] | Settlements represent cash flows to settle the asset or liability. For debt and loan instruments this includes principal on maturity, principal amortizations and principal repayments. For derivatives all cash flows are presented in settlements. | ||||
[10] | Transfers in and transfers out of Level3 are related to changes in observability of input parameters. During the period they are recorded at their fair value at the beginning of year. For instruments transferred into Level3 the table shows the gains and losses and cash flows on the instruments as if they had been transferred at the beginning of the year. Similarly for instruments transferred out of Level3 the table does not show any gains or losses or cash flows on the instruments during the period since the table is presented as if they have been transferred out at the beginning of the year. | ||||
[11] | Transfers in and transfers out of Level3 are related to changes in observability of input parameters. During the period they are recorded at their fair value at the beginning of year. For instruments transferred into Level3 the table shows the gains and losses and cash flows on the instruments as if they had been transferred at the beginning of the year. Similarly for instruments transferred out of Level 3 the table does not show any gains or losses or cash flows on the instruments during the period since the table is presented as if they have been transferred out at the beginning of the year. |
Financial Instruments carried_6
Financial Instruments carried at Fair Value - Reconciliation of Financial Instruments Categorized in Level 3 (Detail: Text Values) - Total gains/ losses [Member] - EUR (€) € in Millions | 6 Months Ended | |
Jun. 30, 2019 | Jun. 30, 2018 | |
Financial assets at fair value through other comprehensive income [Abstract] | ||
of which gain (loss) recognized in other comprehensive income | € 6 | € (6) |
of which loss recognized in the income statement | (3) | |
Financial assets held at fair value: | ||
of which effect of exchange rate changes | 42 | 73 |
Financial liabilities held at fair value: | ||
of which effect of exchange rate changes | € (6) | € (19) |
Financial Instruments carried_7
Financial Instruments carried at Fair Value - Sensitivity Analysis by Type of Instrument (Detail) - Valuation technique unobservable parameters (Level 3) - EUR (€) € in Millions | Jun. 30, 2019 | Dec. 31, 2018 | |
Positive fair value movement from using reasonable possible alternatives [Member] | |||
Securities: | |||
Debt securities | [1] | € 167 | € 179 |
Commercial mortgage-backed securities | [1] | 3 | 5 |
Mortgage and other asset-backed securities | [1] | 43 | 38 |
Corporate, sovereign and other debt securities | [1] | 120 | 136 |
Equity securities | [1] | 65 | 84 |
Derivatives [Abstract] | |||
Credit | [1] | 131 | 151 |
Equity | [1] | 216 | 257 |
Interest related | [1] | 264 | 346 |
Foreign exchange | [1] | 44 | 49 |
Other | [1] | 135 | 106 |
Loans [Abstract] | |||
Loans | [1] | 489 | 475 |
Other | [1] | 0 | 0 |
Total | [1] | 1,509 | 1,647 |
Negative fair value movement from using reasonable possible alternatives [Member] | |||
Securities: | |||
Debt securities | [1] | 102 | 118 |
Commercial mortgage-backed securities | [1] | 2 | 4 |
Mortgage and other asset-backed securities | [1] | 43 | 37 |
Corporate, sovereign and other debt securities | [1] | 57 | 77 |
Equity securities | [1] | 78 | 67 |
Derivatives [Abstract] | |||
Credit | [1] | 108 | 116 |
Equity | [1] | 188 | 207 |
Interest related | [1] | 146 | 206 |
Foreign exchange | [1] | 38 | 26 |
Other | [1] | 84 | 89 |
Loans [Abstract] | |||
Loans | [1] | 217 | 219 |
Other | [1] | 0 | 0 |
Total | [1] | € 963 | € 1,046 |
[1] | Where the exposure to an unobservable parameter is offset across different instruments then only the net impact is disclosed in the table. |
Financial Instruments carried_8
Financial Instruments carried at Fair Value - Sensitivity Analysis by Type of Instrument (Detail: Text Values) - EUR (€) € in Millions | Jun. 30, 2019 | Dec. 31, 2018 |
Changes in sensitive amounts from December 31, 2018 | ||
Decrease in positive fair value movement | € 137 | |
Decrease in negative fair value movement | 84 | |
Decrease of Level 3 assets from December 31, 2018 | 24,200 | € 24,600 |
Increase of Level 3 liabilities from December 31, 2018 | € 7,700 | |
These moves represent a percentage decrease of approximately | 0.00% | |
Change in positive fair value movements | 0.00% | |
change in negative fair value movements | 0.00% | |
Increase in Group Level 3 | 0.00% |
Financial Instruments carried_9
Financial Instruments carried at Fair Value - Financial instruments classified in Level 3 and quantitative information about unobservable inputs (Detail) - Valuation technique unobservable parameters (Level 3) | 6 Months Ended | 12 Months Ended | |||
Jun. 30, 2019EUR (€) | Dec. 31, 2018EUR (€) | ||||
Assets [Member] | |||||
Financial instruments held at fair value: held for trading, mandatory at fair value, designated at fair value, mandatory at fair value through OCI, designated at fair value through OCI: Mortgage and other asset backed securities held for trading: | |||||
Commercial mortgage-backed securities | € 31,000,000 | € 66,000,000 | |||
Mortgage and other asset-backed securities | 266,000,000 | 745,000,000 | |||
Total mortgage- and other asset-backed securities | 296,000,000 | 811,000,000 | |||
Debt securites and other debt obligations | 5,152,000,000 | 3,876,000,000 | |||
Debt securities and other debt obligations, held for trading | 3,618,000,000 | 3,037,000,000 | |||
Corporate, sovereign and other debt securities (held for trading) | 3,618,000,000 | 3,037,000,000 | |||
Debt securities and other debt obligations, Non-trading financial assets mandatory at fair value through profit or loss | 1,162,000,000 | 726,000,000 | |||
Debt securities and other debt obligations, designated at fair value through profit or loss | 0 | 0 | |||
Debt securities and other debt obligations, Mandatory at fair value through OCI | 372,000,000 | 114,000,000 | |||
Equity securities | 1,010,000,000 | 1,244,000,000 | |||
Equity securities, held for trading | 88,000,000 | 239,000,000 | |||
Equity securities, Non-trading financial assets mandatory at fair value through profit or loss | 921,000,000 | 1,005,000,000 | |||
Loans | 6,780,000,000 | 7,167,000,000 | |||
Loans, held for trading | 5,301,000,000 | 5,651,000,000 | |||
Loans, Non-trading financial assets mandatory at fair value through profit or loss | 1,373,000,000 | 1,362,000,000 | |||
Loans, Designated at fair value through profit or loss | 34,000,000 | ||||
Loans, Mandatory at fair value through OCI | 72,000,000 | 154,000,000 | |||
Loan commitments (financial instruments) | 0 | 0 | |||
Other financial instruments | 1,707,000,000 | [1] | 2,999,000,000 | [2] | |
Total non-derivative financial instruments held at fair value | 14,944,000,000 | 16,097,000,000 | |||
Financial instruments held at fair value: Market values from derivative financial instruments: | |||||
Interest rates derivatives | 4,826,000,000 | 4,264,000,000 | |||
Credit derivatives | 667,000,000 | 638,000,000 | |||
Equity derivatives | 1,900,000,000 | 1,583,000,000 | |||
FX derivatives | 954,000,000 | 1,034,000,000 | |||
Other derivatives | 861,000,000 | 997,000,000 | |||
Total market values from derivative financial instruments | 9,209,000,000 | 8,516,000,000 | |||
Liabilities [Member] | |||||
Financial instruments held at fair value: held for trading, mandatory at fair value, designated at fair value, mandatory at fair value through OCI, designated at fair value through OCI: Mortgage and other asset backed securities held for trading: | |||||
Commercial mortgage-backed securities | 0 | 0 | |||
Mortgage and other asset-backed securities | 0 | 0 | |||
Total mortgage- and other asset-backed securities | 0 | 0 | |||
Debt securites and other debt obligations | 2,213,000,000 | 1,764,000,000 | |||
Debt securities and other debt obligations, held for trading | 0 | 0 | |||
Debt securities and other debt obligations, designated at fair value through profit or loss | 2,213,000,000 | 1,764,000,000 | |||
Equity securities | 0 | 0 | |||
Equity securities, held for trading | 0 | 0 | |||
Loans | 16,000,000 | 15,000,000 | |||
Loans, held for trading | 16,000,000 | 15,000,000 | |||
Loans, Designated at fair value through profit or loss | 0 | 0 | |||
Loan commitments (financial instruments) | 0 | 0 | |||
Other financial instruments | 301,000,000 | [3] | 257,000,000 | [4] | |
Total non-derivative financial instruments held at fair value | 2,531,000,000 | 2,037,000,000 | |||
Financial instruments held at fair value: Market values from derivative financial instruments: | |||||
Interest rates derivatives | 3,655,000,000 | 2,568,000,000 | |||
Credit derivatives | 747,000,000 | 964,000,000 | |||
Equity derivatives | 2,304,000,000 | 1,498,000,000 | |||
FX derivatives | 1,034,000,000 | 1,005,000,000 | |||
Other derivatives | (158,000,000) | [5] | (357,000,000) | [6] | |
Total market values from derivative financial instruments | € 7,582,000,000 | € 5,677,000,000 | |||
Financial Instruments classified in Level 3, Valuation Techniques, Significant unobservable input, Range Bottom [Member] | |||||
Financial instruments held at fair value: held for trading, mandatory at fair value, designated at fair value, mandatory at fair value through OCI, designated at fair value through OCI: Mortgage and other asset backed securities held for trading: | |||||
Commercial mortgage-backed securities, Price based valuation, Price | [7] | 0.00% | 0.00% | ||
Commercial mortgage-backed securities, Discounted cash flow valuation, Credit spread (bps) | [7] | 108 | 97 | ||
Mortgage and other asset-backed securities, Price based valuation, Price | [7] | 0.00% | 0.00% | ||
Mortgage and other asset-backed securities, Discounted cash flow valuation, Credit spread (bps) | [7] | 47 | 26 | ||
Mortgage and other asset-backed securities, Discounted cash flow valuation, Recovery rate | [7] | 10.00% | 0.00% | ||
Mortgage and other asset-backed securities, Discounted cash flow valuation, Constant default rate | [7] | 0.00% | 0.00% | ||
Mortgage and other asset-backed securities, Discounted cash flow valuation, Constant prepayment rate | [7] | 3.00% | 0.00% | ||
Debt securites and other debt obligations, Price based valuation, Price | [7] | 0.00% | 0.00% | ||
Debt securities and other debt obligations, Discounted cash flow valuation, Credit spread (bps) | [7] | 5 | 5 | ||
Equity securities, Market approach valuation, Price per net asset value | [7] | 0.00% | 70.00% | ||
Equity securities, Market approach valuation, Enterprise Value/ Ebitda (multiple) | [7] | 5 | 6 | ||
Equity securities, Discounted cash flow valuation, Weighted average cost capital | [7] | 8.00% | 7.00% | ||
Loans, Priced based valuation, Price | [7] | 0.00% | 0.00% | ||
Loans, Discounted cash flow valuation, Credit spread (bps) | [7] | 16 | 40 | ||
Loans, Discounted cash flow, Constant default rate | [7] | 0.00% | 0.00% | ||
Loans, Discounted cash flow valuation, Recovery rate | [7] | 35.00% | 35.00% | ||
Loan Commitments, Discounted cash flow valuation, Credit spread (bps) | [7] | 16 | 30 | ||
Loan Commitments, Discounted cash flow valuation, Recovery rate | [7] | 25.00% | 25.00% | ||
Loan Commitment, Loan Pricing Model Valuation, Utilization | [7] | 0.00% | 0.00% | ||
Other financial instruments, Discounted cash flow valuation, IRR | [7] | 8.00% | 3.00% | ||
Other financial instruments, Discounted cash flow valuation, Repo rate (bps) | [7] | 50 | 65 | ||
Financial instruments held at fair value: Market values from derivative financial instruments: | |||||
Interest rate derivatives, Discounted cash flow valuation, Swap rate (bps) | [7] | (138) | (124) | ||
Interest rate derivatives, Discounted cash flow valuation, Inflation swap rate | [7] | 1.00% | 1.00% | ||
Interest rate derivatives, Discounted cash flow valuation, Constant default rate | [7] | 0.00% | 0.00% | ||
Interest rate derivatives, Discounted cash flow valuation, Constant prepayment rate | [7] | 2.00% | 2.00% | ||
Interest rate derivatives, Option pricing model valuation, Inflation volatility | [7] | 0.00% | 0.00% | ||
Interest rate derivatives, Option pricing model valuation, Interest rate volatility | [7] | 0.00% | 0.00% | ||
Interest rate derivatives, Option pricing model valuation, IR - IR correlation | [7] | (25.00%) | (30.00%) | ||
Interest rate derivatives, Option pricing model valuation, Hybrid correlation | [7] | (60.00%) | (59.00%) | ||
Credit derivatives, Discounted cash flow valuation, Credit spread (bps) | [7] | 0 | 0 | ||
Credit derivatives, Discounted cash flow valuation, Recovery rate | [7] | 0.00% | 0.00% | ||
Credit derivatives, Correlation pricing model valuation, Credit correlation | [7] | 1.00% | 25.00% | ||
Equity derivatives, Option pricing model valuation, Stock volatility | [7] | 4.00% | 4.00% | ||
Equity derivatives, Option pricing model valuation, Index volatility | [7] | 4.00% | 11.00% | ||
Equity derivatives, Option pricing model valuation, Index - index-correlation | [7] | 1 | 1 | ||
Equity derivatives, Option pricing model valuation, Stock - stock correlation | [7] | 3.00% | 2.00% | ||
Equity derivatives, Option pricing model valuation, Stock forwards | [7] | 0.00% | 0.00% | ||
Equity derivatives, Option pricing model valuation, Index forwards | [7] | 0.00% | 0.00% | ||
FX derivatives, Option pricing model valuation, Volatilty | [7] | (9.00%) | (6.00%) | ||
Other derivatives, Discounted cash flow valuation, Credit spread (bps) | [7] | 0 | 0 | ||
Other derivatives, Option pricing model valuation, Index volatilty | [7] | 7.00% | 5.00% | ||
Other derivatives, Option pricing model valuation, Commodity correlation | [7] | 16.00% | 0.00% | ||
Financial Instruments classified in Level 3, Valuation Techniques, Significant unobservable input, Range Top [Member] | |||||
Financial instruments held at fair value: held for trading, mandatory at fair value, designated at fair value, mandatory at fair value through OCI, designated at fair value through OCI: Mortgage and other asset backed securities held for trading: | |||||
Commercial mortgage-backed securities, Price based valuation, Price | [7] | 105.00% | 120.00% | ||
Commercial mortgage-backed securities, Discounted cash flow valuation, Credit spread (bps) | [7] | 1,516 | 1,444 | ||
Mortgage and other asset-backed securities, Price based valuation, Price | [7] | 103.00% | 102.00% | ||
Mortgage and other asset-backed securities, Discounted cash flow valuation, Credit spread (bps) | [7] | 1,879 | 2,203 | ||
Mortgage and other asset-backed securities, Discounted cash flow valuation, Recovery rate | [7] | 90.00% | 90.00% | ||
Mortgage and other asset-backed securities, Discounted cash flow valuation, Constant default rate | [7] | 4.00% | 16.00% | ||
Mortgage and other asset-backed securities, Discounted cash flow valuation, Constant prepayment rate | [7] | 52.00% | 42.00% | ||
Debt securites and other debt obligations, Price based valuation, Price | [7] | 155.00% | 148.00% | ||
Debt securities and other debt obligations, Discounted cash flow valuation, Credit spread (bps) | [7] | 419 | 582 | ||
Equity securities, Market approach valuation, Price per net asset value | [7] | 100.00% | 100.00% | ||
Equity securities, Market approach valuation, Enterprise Value/ Ebitda (multiple) | [7] | 17 | 17 | ||
Equity securities, Discounted cash flow valuation, Weighted average cost capital | [7] | 40.00% | 20.00% | ||
Loans, Priced based valuation, Price | [7] | 109.00% | 341.00% | ||
Loans, Discounted cash flow valuation, Credit spread (bps) | [7] | 697 | 930 | ||
Loans, Discounted cash flow, Constant default rate | [7] | 0.00% | 0.00% | ||
Loans, Discounted cash flow valuation, Recovery rate | [7] | 75.00% | 40.00% | ||
Loan Commitments, Discounted cash flow valuation, Credit spread (bps) | [7] | 3,200 | 2,864 | ||
Loan Commitments, Discounted cash flow valuation, Recovery rate | [7] | 75.00% | 75.00% | ||
Loan Commitment, Loan Pricing Model Valuation, Utilization | [7] | 100.00% | 100.00% | ||
Other financial instruments, Discounted cash flow valuation, IRR | [7] | 46.00% | 46.00% | ||
Other financial instruments, Discounted cash flow valuation, Repo rate (bps) | [7] | 357 | 387 | ||
Financial instruments held at fair value: Market values from derivative financial instruments: | |||||
Interest rate derivatives, Discounted cash flow valuation, Swap rate (bps) | [7] | 5,322 | 2,316 | ||
Interest rate derivatives, Discounted cash flow valuation, Inflation swap rate | [7] | 6.00% | 6.00% | ||
Interest rate derivatives, Discounted cash flow valuation, Constant default rate | [7] | 16.00% | 35.00% | ||
Interest rate derivatives, Discounted cash flow valuation, Constant prepayment rate | [7] | 60.00% | 43.00% | ||
Interest rate derivatives, Option pricing model valuation, Inflation volatility | [7] | 5.00% | 5.00% | ||
Interest rate derivatives, Option pricing model valuation, Interest rate volatility | [7] | 122.00% | 31.00% | ||
Interest rate derivatives, Option pricing model valuation, IR - IR correlation | [7] | 100.00% | 90.00% | ||
Interest rate derivatives, Option pricing model valuation, Hybrid correlation | [7] | 93.00% | 75.00% | ||
Credit derivatives, Discounted cash flow valuation, Credit spread (bps) | [7] | 8,963 | 1,541 | ||
Credit derivatives, Discounted cash flow valuation, Recovery rate | [7] | 99.00% | 80.00% | ||
Credit derivatives, Correlation pricing model valuation, Credit correlation | [7] | 85.00% | 85.00% | ||
Equity derivatives, Option pricing model valuation, Stock volatility | [7] | 100.00% | 96.00% | ||
Equity derivatives, Option pricing model valuation, Index volatility | [7] | 43.00% | 79.00% | ||
Equity derivatives, Option pricing model valuation, Index - index-correlation | [7] | 1 | 1 | ||
Equity derivatives, Option pricing model valuation, Stock - stock correlation | [7] | 96.00% | 89.00% | ||
Equity derivatives, Option pricing model valuation, Stock forwards | [7] | 21.00% | 63.00% | ||
Equity derivatives, Option pricing model valuation, Index forwards | [7] | 6.00% | 5.00% | ||
FX derivatives, Option pricing model valuation, Volatilty | [7] | 32.00% | 34.00% | ||
Other derivatives, Discounted cash flow valuation, Credit spread (bps) | [7] | 0 | 0 | ||
Other derivatives, Option pricing model valuation, Index volatilty | [7] | 72.00% | 92.00% | ||
Other derivatives, Option pricing model valuation, Commodity correlation | [7] | 86.00% | 0.00% | ||
[1] | Other financial assets include EUR62million of other trading assets, EUR1.6billion of other financial assets mandatory at fair value. | ||||
[2] | Other financial assets include EUR26million of other trading assets, EUR3billion of other financial assets mandatory at fair value. | ||||
[3] | Other financial liabilities include EUR174million of securities sold under repurchase agreements designated at fair value and EUR127million of other financial liabilities designated at fair value | ||||
[4] | Other financial liabilities include EUR185million of securities sold under repurchase agreements designated at fair value and EUR72million of other financial liabilities designated at fair value. | ||||
[5] | Includes derivatives which are embedded in contracts where the host contract is held at amortized cost but for which the embedded derivative is separated. | ||||
[6] | Includes derivatives which are embedded in contracts where the host contract is held at amortized cost but for which the embedded derivative is separated | ||||
[7] | Valuation technique(s) and subsequently the significant unobservable input(s) relate to the respective total position. |
Financial Instruments carrie_10
Financial Instruments carried at Fair Value - Financial instruments classified in Level 3 and quantitative information about unobservable inputs (Detail: Text Values) - Valuation technique unobservable parameters (Level 3) - EUR (€) € in Millions | Jun. 30, 2019 | Dec. 31, 2018 |
Assets [Member] | ||
Included in other financial assets [Abstract] | ||
Other trading assets | € 62 | € 26 |
Other financial assets mandatory at fair value | 1,645 | 2,973 |
Liabilities [Member] | ||
Included in other financial liabilities [Abstract] | ||
Securities sold under repurchase agreements designated at fair value | 174 | 185 |
Other financial liabilities designated at fair value | € 127 | € 72 |
Financial Instruments carrie_11
Financial Instruments carried at Fair Value - Unrealized Gains or Losses on Level 3 Instruments Held or in Issue at the Reporting Date (Detail) - Unrealized Gains or Losses [Member] - Valuation technique unobservable parameters (Level 3) - EUR (€) € in Millions | Jun. 30, 2019 | Jun. 30, 2018 |
Financial assets held at fair value [Abstract] | ||
Trading securities, assets | € 121 | € 15 |
Positive market values from derivative financial instruments | 1,476 | 676 |
Other trading assets | 62 | 56 |
Non-trading financial assets mandatory at fair value through profit and loss | 94 | 250 |
Financial assets designated at fair value through profit or loss | 0 | 0 |
Financial assets at fair value through other comprehensive income | 0 | 0 |
Other financial assets at fair value | 15 | 0 |
Total financial assets held at fair value | 1,769 | 997 |
Financial liabilities held at fair value: | ||
Trading securities, liabilities | 0 | (1) |
Negative market values from derivative financial instruments | (1,516) | (603) |
Other trading liabilities | 1 | 0 |
Financial liabilities designated at fair value through profit or loss | (107) | 189 |
Other financial liabilities at fair value | (206) | 205 |
Total financial liabilities held at fair value | (1,829) | (209) |
Total | € (60) | € 788 |
Financial Instruments carrie_12
Financial Instruments carried at Fair Value - Recognition of Trade Date Profit (Detail) - EUR (€) € in Millions | 6 Months Ended | |
Jun. 30, 2019 | Jun. 30, 2018 | |
Recognitions of Trade Date Profit | ||
Balance, beginning of period | € 531 | € 596 |
New trades during the period | 73 | 128 |
Amortization | (60) | (87) |
Matured trades | (76) | (70) |
Subsequent move to observability | (34) | (49) |
Exchange rate changes | 1 | 1 |
Balance, end of period | € 434 | € 520 |
Fair Value of Financial Instr_3
Fair Value of Financial Instruments not carried at Fair Value - Estimated Fair Value of the Financial Instruments not carried at Fair Value (Detail) - EUR (€) € in Millions | Jun. 30, 2019 | Dec. 31, 2018 | |
Carrying value [Member] | |||
Financial assets: | |||
Cash and central bank balances | [1] | € 160,982 | € 188,731 |
Interbank balances (w/o central banks) | [1] | 10,144 | 8,881 |
Central bank funds sold and securities purchased under resale agreements | [1] | 9,126 | 8,222 |
Securities borrowed | [1] | 647 | 3,396 |
Loans | [1] | 414,889 | 400,297 |
Other financial assets | [1] | 125,855 | 80,089 |
Financial liabilities: | |||
Deposits | [1] | 576,506 | 564,405 |
Central bank funds purchased and securities sold under repurchase agreements | [1] | 7,532 | 4,867 |
Securities loaned | [1] | 2,992 | 3,359 |
Other short-term borrowings | [1] | 12,418 | 14,158 |
Other financial liabilities | [1] | 136,495 | 100,683 |
Long-term debt | [1] | 147,629 | 152,083 |
Trust preferred securities | [1] | 3,269 | 3,168 |
Fair value [Member] | |||
Financial assets: | |||
Cash and central bank balances | [1] | 160,982 | 188,731 |
Interbank balances (w/o central banks) | [1] | 10,144 | 8,881 |
Central bank funds sold and securities purchased under resale agreements | [1] | 9,127 | 8,223 |
Securities borrowed | [1] | 647 | 3,396 |
Loans | [1] | 421,562 | 395,900 |
Other financial assets | [1] | 126,183 | 80,193 |
Financial liabilities: | |||
Deposits | [1] | 577,033 | 564,637 |
Central bank funds purchased and securities sold under repurchase agreements | [1] | 7,533 | 4,867 |
Securities loaned | [1] | 2,992 | 3,359 |
Other short-term borrowings | [1] | 12,420 | 14,159 |
Other financial liabilities | [1] | 136,495 | 100,683 |
Long-term debt | [1] | 145,784 | 149,128 |
Trust preferred securities | [1] | € 3,294 | € 3,114 |
[1] | Amounts generally presented on a gross basis, in line with the Groups accounting policy regarding offsetting of financial instruments as described in Note1 Significant Accounting Policies and Critical Accounting Estimates of the Groups Annual Report 2018. |
Allowance for Credit Losses on
Allowance for Credit Losses on Balance Sheet Positions (Detail) - Allowance for credit losses on balance sheet positions [Member] - EUR (€) € in Millions | 6 Months Ended | ||||
Jun. 30, 2019 | [1] | Jun. 30, 2018 | [2] | ||
Allowance Account for Credit Losses of Financial Assets [Member] | |||||
Allowance for Credit Losses [Line Items] | |||||
Allowance for loan losses, beginning of year | € 4,259 | € 4,596 | |||
Movements in financial assets including new business | 291 | 188 | |||
Transfers due to changes in creditworthiness | 0 | 0 | |||
Changes in models | 0 | 0 | |||
Financial assets that have been derecognized during the period | [3] | (463) | (362) | ||
Recovery of written off amounts | 41 | 110 | |||
Foreign exchange and other changes | (5) | (64) | |||
Allowance for loan losses, end of year | 4,123 | 4,468 | |||
Provision for Credit Losses excluding country risk | 291 | [4] | 188 | [5] | |
Stage 1 [Member] | |||||
Allowance for Credit Losses [Line Items] | |||||
Allowance for loan losses, beginning of year | 509 | 462 | |||
Movements in financial assets including new business | (13) | (88) | |||
Transfers due to changes in creditworthiness | 64 | 110 | |||
Changes in models | 0 | 0 | |||
Financial assets that have been derecognized during the period | [3] | 0 | 0 | ||
Recovery of written off amounts | 0 | 0 | |||
Foreign exchange and other changes | (4) | (24) | |||
Allowance for loan losses, end of year | 556 | 460 | |||
Provision for Credit Losses excluding country risk | 52 | [4] | 22 | [5] | |
Stage 2 [Member] | |||||
Allowance for Credit Losses [Line Items] | |||||
Allowance for loan losses, beginning of year | 501 | 494 | |||
Movements in financial assets including new business | 110 | 152 | |||
Transfers due to changes in creditworthiness | (69) | (122) | |||
Changes in models | 0 | 0 | |||
Financial assets that have been derecognized during the period | [3] | 0 | 0 | ||
Recovery of written off amounts | 0 | 0 | |||
Foreign exchange and other changes | (8) | (19) | |||
Allowance for loan losses, end of year | 534 | 504 | |||
Provision for Credit Losses excluding country risk | 41 | [4] | 30 | [5] | |
Stage 3 [Member] | |||||
Allowance for Credit Losses [Line Items] | |||||
Allowance for loan losses, beginning of year | 3,247 | 3,638 | |||
Movements in financial assets including new business | 171 | 126 | |||
Transfers due to changes in creditworthiness | 5 | 12 | |||
Changes in models | 0 | 0 | |||
Financial assets that have been derecognized during the period | [3] | (463) | (362) | ||
Recovery of written off amounts | 41 | 110 | |||
Foreign exchange and other changes | (5) | (29) | |||
Allowance for loan losses, end of year | 2,996 | 3,495 | |||
Provision for Credit Losses excluding country risk | 176 | [4] | 138 | [5] | |
Stage 3 POCI [Member] | |||||
Allowance for Credit Losses [Line Items] | |||||
Allowance for loan losses, beginning of year | 3 | 3 | |||
Movements in financial assets including new business | 23 | (2) | |||
Transfers due to changes in creditworthiness | 0 | 0 | |||
Changes in models | 0 | 0 | |||
Financial assets that have been derecognized during the period | [3] | 0 | 0 | ||
Recovery of written off amounts | 0 | 0 | |||
Foreign exchange and other changes | 12 | 8 | |||
Allowance for loan losses, end of year | 37 | 9 | |||
Provision for Credit Losses excluding country risk | € 23 | [4] | € (2) | [5] | |
[1] | Allowance for credit losses does not include allowance for country risk amounting to EUR3million as of June 30, 2019. | ||||
[2] | Allowance for credit losses does not include allowance for country risk amounting to EUR5million as of June 30, 2018. | ||||
[3] | This position includes charge offs of allowance for credit losses. | ||||
[4] | Movements in financial assets including new business, transfers due to changes in creditworthiness and changes in models add up to Provision for Credit Losses excluding country risk. | ||||
[5] | The above table breaks down the impact on provision for credit losses from movements in financial assets including new business, transfers due to changes in creditworthiness and changes in models. |
Allowance for Credit Losses off
Allowance for Credit Losses off Balance Sheet Positions (Detail) - Allowance for credit losses off balance sheet positions [Member] - EUR (€) € in Millions | 6 Months Ended | ||||
Jun. 30, 2019 | [1] | Jun. 30, 2018 | [2] | ||
Allowance Account for Credit Losses of Financial Assets [Member] | |||||
Allowance for Credit Losses [Line Items] | |||||
Allowance off-balance sheet, beginning of year | € 289 | € 272 | |||
Movements in financial assets including new business | 12 | (4) | |||
Transfers due to changes in creditworthiness | 0 | 0 | |||
Changes in models | 0 | 0 | |||
Foreign exchange and other changes | 1 | 39 | |||
Allowance off-balance sheet, end of year | 301 | 307 | |||
Provision for Credit Losses excluding country risk | [3] | 12 | (4) | ||
Stage 1 [Member] | |||||
Allowance for Credit Losses [Line Items] | |||||
Allowance off-balance sheet, beginning of year | 132 | 117 | |||
Movements in financial assets including new business | 2 | (16) | |||
Transfers due to changes in creditworthiness | 4 | 9 | |||
Changes in models | 0 | 0 | |||
Foreign exchange and other changes | 0 | 11 | |||
Allowance off-balance sheet, end of year | 139 | 121 | |||
Provision for Credit Losses excluding country risk | [3] | 6 | (7) | ||
Stage 2 [Member] | |||||
Allowance for Credit Losses [Line Items] | |||||
Allowance off-balance sheet, beginning of year | 73 | 36 | |||
Movements in financial assets including new business | 6 | 11 | |||
Transfers due to changes in creditworthiness | (7) | (9) | |||
Changes in models | 0 | 0 | |||
Foreign exchange and other changes | 0 | 12 | |||
Allowance off-balance sheet, end of year | 73 | 49 | |||
Provision for Credit Losses excluding country risk | [3] | 0 | 1 | ||
Stage 3 [Member] | |||||
Allowance for Credit Losses [Line Items] | |||||
Allowance off-balance sheet, beginning of year | 84 | 119 | |||
Movements in financial assets including new business | 3 | 2 | |||
Transfers due to changes in creditworthiness | 3 | 0 | |||
Changes in models | 0 | 0 | |||
Foreign exchange and other changes | 0 | 16 | |||
Allowance off-balance sheet, end of year | 90 | 136 | |||
Provision for Credit Losses excluding country risk | [3] | 5 | 2 | ||
Stage 3 POCI [Member] | |||||
Allowance for Credit Losses [Line Items] | |||||
Allowance off-balance sheet, beginning of year | 0 | 0 | |||
Movements in financial assets including new business | 0 | 0 | |||
Transfers due to changes in creditworthiness | 0 | 0 | |||
Changes in models | 0 | 0 | |||
Foreign exchange and other changes | 0 | 0 | |||
Allowance off-balance sheet, end of year | 0 | 0 | |||
Provision for Credit Losses excluding country risk | [3] | € 0 | € 0 | ||
[1] | Allowance for credit losses does not include allowance for country risk amounting to EUR5million as of June 30, 2019. | ||||
[2] | Allowance for credit losses does not include allowance for country risk amounting to EUR4million as of June 30, 2018. | ||||
[3] | The above table breaks down the impact on provision for credit losses from movements in financial assets including new business, transfers due to changes in creditworthiness and changes in models. |
Allowance for Credit Losses (De
Allowance for Credit Losses (Detail: Text Values) - EUR (€) € in Millions | 6 Months Ended | |
Jun. 30, 2019 | Jun. 30, 2018 | |
Allowance for Credit Losses on/off Balance Sheet Positions [Abstract] | ||
Allowance for country risk not included in Allowance for credit losses for Financial Assets at Amortized Cost | € 3 | € 5 |
Allowance for country risk not included in Allowance for credit losses for Off-balance Sheet Positions | € 5 | € 4 |
Provisions - Parenthetical Inf
Provisions - Parenthetical Information Note 29 Provisions (Detail: Text Values) - EUR (€) € in Billions | Jun. 30, 2019 | Dec. 31, 2018 |
Civil litigation matters [Abstract] | ||
Provisions | € 0.7 | € 0.7 |
Aggregate future loss, more than remote but less than probable | 2 | 2.5 |
Regulatory enforcement matters [Abstract] | ||
Provisions | 0.5 | 0.5 |
Aggregate future loss, more than remote but less than probable | € 0.2 | € 0.2 |
Long-Term Debt (Detail)
Long-Term Debt (Detail) - Total [Domain Member] - EUR (€) € in Millions | Jun. 30, 2019 | Dec. 31, 2018 |
Debt Seniority [Domain Member] | ||
By remaining maturities [Abstract] | ||
Other | € 37,868 | € 36,977 |
Total long-term debt | 147,629 | 152,083 |
Senior debt, Bonds and notes [Member] | ||
By remaining maturities [Abstract] | ||
Fixed rate | 77,607 | 77,894 |
Floating rate | 25,254 | 30,495 |
Subordinated debt, Bonds and notes [Member] | ||
By remaining maturities [Abstract] | ||
Fixed rate | 5,510 | 5,297 |
Floating rate | € 1,390 | € 1,420 |
Shares Issued and Outstanding_2
Shares Issued and Outstanding (Detail) - Shares Issued and Outstanding [Member] - shares | Jun. 30, 2019 | Dec. 31, 2018 |
Shares Issued and Outstanding [Line Items] | ||
Shares issued in million | 2,066.8 | 2,066.8 |
Shares in treasury, in million | 1.8 | 1.3 |
of which [Abstract] | ||
Buyback in million | 1.6 | 1.2 |
Other in million | 0.2 | 0.2 |
Shares outstanding in million | 2,064.9 | 2,065.4 |
Credit related Commitments an_3
Credit related Commitments and Contingent Liabilities - Credit Related Commitments and Contingent Liabilities (Detail) - EUR (€) € in Millions | Jun. 30, 2019 | Dec. 31, 2018 |
Commitments and Contingent Liabilities [Line Items] | ||
Irrevocable lending commitments | € 163,664 | € 167,722 |
Revocable lending commitments | 43,448 | 44,327 |
Contingent liabilities | 48,369 | 51,605 |
Total | € 255,481 | € 263,654 |
Credit related Commitments an_4
Credit related Commitments and Contingent Liabilities - Other Commitments and Contingent Liabilities (Detail) - EUR (€) € in Millions | 6 Months Ended | 12 Months Ended |
Jun. 30, 2019 | Dec. 31, 2018 | |
Other Commitments and Contingent Liabilities [Abstract] | ||
Other commitments | € 103 | € 130 |
Other contingent liabilities | 78 | 74 |
Total | € 182 | € 204 |
Credit related Commitments an_5
Credit related Commitments and Contingent Liabilities - Irrevocable payment commitments with regard to levies (Detail: Text Values) - EUR (€) € in Millions | 6 Months Ended | 12 Months Ended |
Jun. 30, 2019 | Dec. 31, 2018 | |
Commitments and Contingent Liabilities [Abstract] | ||
Irrevocable payment commitments related to bank levy according to Bank Recovery and Resolution Directive (BRRD), the Single Resolution Fund (SRF) and the German statutory deposit protection | € 725 | € 595 |
Related Party Transactions - Tr
Related Party Transactions - Transactions with Subsidiaries, Joint Ventures and Associates - Loans Issued and Guarantees Granted (Detail) - EUR (€) € in Millions | 6 Months Ended | 12 Months Ended | ||
Jun. 30, 2019 | Dec. 31, 2018 | |||
Loans (Transactions with Subsidiaries, Joint Ventures and Associates) | ||||
Loans outstanding, beginning of period | € 228 | [1] | € 256 | |
Movement in loans during the period | [2] | 2 | (21) | |
Changes in the group of consolidated companies | 0 | 0 | ||
Exchange rate changes/other | 0 | (7) | ||
Loans outstanding, end of period | [1] | 230 | 228 | |
Other credit risk related transactions: | ||||
Allowance for loan losses | 0 | 0 | ||
Provision for loan losses | 0 | 0 | ||
Guarantees and commitments | € 3 | € 3 | ||
[1] | There were no past due loans as of June30,2019 and December31,2018. For the above loans, the Group held collateral of EUR5million and EUR14million as of June30, 2019 and December31, 2018, respectively | |||
[2] | Net impact of loans issued and loans repayment during the year is shown as Movement in loans during the period. |
Related Party Transactions - _2
Related Party Transactions - Transactions with Subsidiaries, Joint Ventures and Associates - Deposits Received (Detail) - EUR (€) € in Millions | 6 Months Ended | 12 Months Ended | |
Jun. 30, 2019 | Dec. 31, 2018 | ||
Deposits (Transactions with Subsidiaries, Joint Ventures and Associates) | |||
Deposits, beginning of period | € 68 | € 67 | |
Movement in deposits during the period | [1] | (22) | 2 |
Changes in the group of consolidated companies | 0 | 0 | |
Exchange rate changes/other | 0 | 0 | |
Deposits, end of period | € 47 | € 68 | |
[1] | Net impact of deposits received and deposits repaid during the year is shown as Movement in deposits during the period. |
Related Party Transactions - Ke
Related Party Transactions - Key Mgm - Guarantees - Loans past due - Other Transactions (Detail: Text Values) - EUR (€) € in Millions | Jun. 30, 2019 | Dec. 31, 2018 |
Loans Issued and Guarantees Granted [Abstract] | ||
Key Management Loans and commitments | € 41 | € 45 |
Key Management Deposits | 19 | 34 |
Collateral held for loans outstanding | 5 | 14 |
Trading assets and positive market values from derivative financial transactions with associated companies | 2 | 2 |
Trading liabilities and negative market values from derivative financial transactions with associated companies | € 0 | € 0 |
Non-Current Assets and Dispos_2
Non-Current Assets and Disposal Groups Held for Sale - Components of Other Non-Current Assets and Disposal Groups Held for Sale (Detail: Text Values) | Jun. 30, 2019EUR (€) | Dec. 31, 2018EUR (€) |
Components of Other Non-Current Assets and Disposal Groups Held for Sale [Abstract] | ||
Total assets held for sale | € 105,000,000 | € 2,679,000,000 |
Liabilities included in disposal groups | 82,000,000 | 1,242,000,000 |
Unrealized net gains or losses relating to non-current assets and disposal groups classified as held for sale recognized directly in accumulated other comprehensive income (loss) | 0 | € 0 |
Sale of Portuguese Private & Commercial Clients business [Abstract] | ||
Transferred assets under management | 3,000,000,000 | |
Transferred deposits | 1,000,000,000 | |
Transferred loans | € 3,000,000,000 | |
Transferred FTE | 330 |