The Group at a Glance
The reconciliation of average active equity and related ratios is provided on page 58 of this report.
1 Book value per basic share outstanding is defined as shareholders’ equity divided by the number of basic shares outstanding (both at period end).
2 Total noninterest expenses as a percentage of total net interest income before provision for credit losses plus noninterest income.
3 Compensation and benefits as a percentage of total net interest income before provision for credit losses plus noninterest income.
4 Noncompensation noninterest expenses, which is defined as total noninterest expenses less compensation and benefits, as a percentage of total net
interest income before provision for credit losses plus noninterest income.
5 The Tier 1 capital ratio excludes transitional items pursuant to section 64h (3) German Banking Act.
Due to rounding, numbers presented throughout this document may not add up precisely to the totals provided and percentages may not precisely reflect the
absolute figures.
Cover: Yoshinobu Tsutsui, Managing Director, Nippon Life Insurance Company, Tokyo
Deutsche Bank
Three months ended
Mar 31, 2009 Mar 31, 2008
Share price at period end € 30.30 € 71.70
Share price high € 32.92 € 89.80
Share price low € 15.38 € 64.62
Basic earnings per share € 1.97 € (0.27)
Diluted earnings per share € 1.92 € (0.27)
Average shares outstanding, in m., basic 603 484
Average shares outstanding, in m., diluted 617 484
Return on average shareholders’ equity (post-tax) 14.7 % (1.4) %
Pre-tax return on average shareholders’ equity 22.6 % (2.7) %
Pre-tax return on average active equity 21.9 % (3.1) %
Book value per basic share outstanding1 € 52.49 € 71.69
Cost/income ratio2 67.5 % 103.0 %
Compensation ratio3 41.3 % 63.6 %
Noncompensation ratio4 26.2 % 39.5 %
in € m. in € m.
Total net revenues 7,205 4,616
Provision for credit losses 526 114
Total noninterest expenses 4,864 4,756
Income (loss) before income taxes 1,815 (254)
Net income (loss) 1,182 (141)
Mar 31, 2009 Dec 31, 2008
in € bn. in € bn.
Total assets 2,103 2,202
Shareholders’ equity 33.7 30.7
Tier 1 capital ratio5 10.2 % 10.1 %
Number Number
Branches 1,984 1,981
thereof in Germany 982 981
Employees (full-time equivalent) 80,277 80,456
thereof in Germany 28,054 27,942
Long-term rating
Moody’s Investors Service Aa1 Aa1
Standard & Poor’s A+ A+
Fitch