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Business Segments and Related Information (Tables)
 12 Months Ended
Dec. 31, 2023
Business Segments and Related Information [Abstract]  
Segment Results of Operations [text block table]
Segmental results of operations
The following tables present the results of the Group’s business segments, including the reconciliation to the consolidated results of operations under IFRS.
2023
in € m.
(unless stated otherwise)
Corporate
Bank
Investment
Bank
Private
Bank
Asset Management
Corporate &
Other
Total
Consolidated
Net revenues1
7,716
9,160
9,575
2,383
2,321
31,155
Provision for credit losses
266
431
783
(1)
26
1,505
Noninterest expenses
Compensation and benefits
1,537
2,524
2,806
891
3,372
11,131
General and administrative expenses
2,934
4,136
4,742
934
(2,634)
10,112
Impairment of goodwill and other intangible assets
0
233
0
0
0
233
Restructuring activities
(4)
(3)
228
0
(1)
220
Total noninterest expenses
4,466
6,890
7,777
1,825
738
21,695
Noncontrolling interests
0
3
0
163
(166)
0
Profit (loss) before tax
2,984
1,836
1,015
396
1,724
7,955
Assets (in € bn)2
264
658
331
10
54
1,317
Loans (gross of allowance for loan losses, in € bn)
117
101
261
0
6
485
Additions to non-current assets
13
89
90
73
1,853
2,118
Deposits (in € bn)
289
18
308
0
10
625
Average allocated shareholders' equity
13,306
27,593
14,477
5,318
2,456
63,149
Risk-weighted assets (in € bn)
69
140
86
15
40
350
of which: operational risk RWA (in € bn)
6
22
8
3
19
57
Leverage exposure (in € bn)
307
546
339
10
39
1,240
Employees (full-time equivalent)
25,520
19,979
38,451
4,962
1,218
90,130
Post-tax return on average shareholders’ equity3
15.2%
3.8%
4.1%
4.9%
N/M
9.1%
Post-tax return on average tangible shareholders’ equity3
16.6%
4.0%
4.5%
11.3%
N/M
10.2%
Cost/income ratio4
57.9%
75.2%
81.2%
76.6%
N/M
69.6%
1 includes:
Net interest income
5,113
3,013
6,160
(124)
1,960
16,122
Net income (loss) from equity method investments
(6)
(70)
(5)
42
2
(38)
2 includes:
Equity method investments
91
413
84
420
5
1,013
N/M – Not meaningful
3 The post-tax return on average shareholders’ equity and average tangible shareholders’ equity at the Group level reflects the reported effective tax rate for the Group, which was 19% for the year ended December 31, 2023; for the post-tax return on average shareholders’ equity and average tangible shareholders’ equity of the segments, the Group effective tax rate was adjusted to exclude the impact of permanent differences not attributed to the segments, so that the segment tax rates were 28% for the year ended December 31, 2023; for further information, please refer to “Supplementary Information (Unaudited): Non-GAAP Financial Measures” of this report
4 Noninterest expenses as a percentage of total net revenues, which are defined as net interest income before provision for credit losses plus noninterest income
2022
in € m.
(unless stated otherwise)
Corporate
Bank
Investment
Bank
Private
Bank
Asset Management
Corporate &
Other
Total
Consolidated
Net revenues1
6,337
10,016
9,153
2,608
(1,051)
27,063
Provision for credit losses
335
319
583
(2)
(9)
1,226
Noninterest expenses
Compensation and benefits
1,422
2,376
2,785
899
3,231
10,712
General and administrative expenses
2,786
4,075
4,176
883
(2,192)
9,728
Impairment of goodwill and other intangible assets
0
0
0
68
0
68
Restructuring activities
(19)
15
(113)
0
(2)
(118)
Total noninterest expenses
4,188
6,466
6,848
1,850
1,037
20,390
Noncontrolling interests
0
15
0
174
(190)
0
Profit (loss) before tax
1,814
3,217
1,722
584
(1,890)
5,447
Assets (in € bn)2
258
677
333
10
67
1,344
Loans (gross of allowance for loan losses, in € bn)
122
103
265
0
6
496
Additions to non-current assets
3
4
177
41
2,267
2,494
Deposits (in € bn)
289
16
317
0
7
629
Average allocated shareholders' equity
12,015
26,036
13,557
5,395
3,105
60,109
Risk-weighted assets (in € bn)
74
139
88
13
46
360
of which: operational risk RWA (in € bn)
5
23
8
3
19
58
Leverage exposure (in € bn)
321
530
344
9
36
1,240
Employees (full-time equivalent)
22,161
18,420
37,716
4,778
1,856
84,930
Post-tax return on average shareholders’ equity3
10.0%
8.0%
8.3%
7.4%
N/M
8.2%
Post-tax return on average tangible shareholders’ equity3
10.9%
8.4%
9.0%
17.1%
N/M
9.1%
Cost/income ratio4
66.1%
64.6%
74.8%
71.0%
N/M
75.3%
1 includes:
Net interest income
3,628
3,467
5,223
(65)
1,730
13,983
Net income (loss) from equity method investments
4
50
27
66
6
152
2 includes:
Equity method investments
90
501
99
415
20
1,124
N/M – Not meaningful
Prior year’s comparatives aligned to presentation in the current year
3 The post-tax return on average shareholders’ equity and average tangible shareholders’ equity at the Group level reflects the reported effective tax rate for the Group, which was (2) % for the year ended December 31, 2022; for the post-tax return on average shareholders’ equity and average tangible shareholders’ equity of the segments, the Group effective tax rate was adjusted to exclude the impact of permanent differences not attributed to the segments, so that the segment tax rates were 28 % for the year ended December 31, 2022; for further information, please refer to “Supplementary Information (Unaudited): Non-GAAP Financial Measures” of this report
4 Noninterest expenses as a percentage of total net revenues, which are defined as net interest income before provision for credit losses plus noninterest income
2021
in € m.
(unless stated otherwise)
Corporate
Bank
Investment
Bank
Private
Bank
Asset Management
Corporate &
Other
Total
Consolidated
Net revenues1
5,153
9,631
8,233
2,708
(186)
25,538
Provision for credit losses
(3)
104
446
5
(36)
515
Noninterest expenses
Compensation and benefits
1,447
2,197
2,808
822
3,145
10,418
General and administrative expenses
3,053
3,843
4,939
846
(1,862)
10,821
Impairment of goodwill and other intangible assets
5
0
0
0
0
5
Restructuring activities
42
47
173
2
(2)
261
Total noninterest expenses
4,547
6,087
7,920
1,670
1,281
21,505
Noncontrolling interests
0
(17)
0
223
(206)
0
Profit (loss) before tax
609
3,458
(133)
809
(1,225)
3,518
Assets (in € bn)2
246
616
310
10
142
1,325
Loans (gross of allowance for loan losses, in € bn)
122
93
254
0
7
477
Additions to non-current assets
17
6
149
32
1,733
1,939
Deposits (in € bn)
270
13
313
0
8
604
Average allocated shareholders' equity
11,101
25,281
13,041
5,128
1,987
56,537
Risk-weighted assets (in € bn)
65
141
85
14
46
352
of which: operational risk RWA (in € bn)
6
25
8
3
20
62
Leverage exposure (fully loaded, in € bn)3
300
530
321
11
62
1,125
Employees (full-time equivalent)
20,560
16,927
37,458
4,514
3,510
82,969
Post-tax return on average shareholders’ equity4
3.2%
9.0%
(1.5)%
11.0%
N/M
3.6%
Post-tax return on average tangible shareholders’ equity4
3.5%
9.4%
(1.7)%
25.8%
N/M
4.0%
Cost/income ratio5
88.2%
63.2%
96.2%
61.7%
N/M
84.2%
1 includes:
Net interest income
2,605
3,332
4,601
(5)
584
11,117
Net income (loss) from equity method investments
3
(34)
40
81
9
98
2 includes:
Equity method investments
72
462
180
349
29
1,091
N/M – Not meaningful
Prior year’s comparatives aligned to presentation in the current year
Segment Results of Operations, Corporate Bank [text block table] Corporate Bank 2023 increase (decrease)from 2022 2022 increase (decrease)from 2021 in € m.(unless stated otherwise) 2023 2022 2021 in € m. in % in € m. in % Net revenues Corporate Treasury Services 4,366 3,821 3,072 545 14 749 24 Institutional Client Services 1,906 1,587 1,299 319 20 287 22 Business Banking 1,445 930 781 515 55 148 19 Total net revenues 7,716 6,337 5,153 1,379 22 1,185 23 Of which: Net interest income 5,113 3,628 2,605 1,485 41 1,022 39 Commissions and fee income 2,328 2,356 2,204 (28) (1) 151 7 Remaining income 275 354 343 (79) (22) 11 3 Provision for credit losses 266 335 (3) (68) (20) 338 N/M Noninterest expenses Compensation and benefits 1,537 1,422 1,447 115 8 (26) (2) General and administrative expenses 2,934 2,786 3,053 148 5 (267) (9) Impairment of goodwill and other intangible assets 0 0 5 0 N/M (5) N/M Restructuring activities (4) (19) 42 15 (77) (61) N/M Total noninterest expenses 4,466 4,188 4,547 278 7 (358) (8) Noncontrolling interests 0 0 0 0 N/M 0 N/M Profit (loss) before tax 2,984 1,814 609 1,169 64 1,205 198 Employees (front office, full-time equivalent)1 7,859 7,444 7,441 415 6 3 0 Employees (business-aligned operations, full-time equivalent)1 7,853 6,508 5,838 1,345 21 670 11 Employees (allocated central infrastructure, full-time equivalent)1 9,808 8,209 7,282 1,599 19 927 13 Total employees (full-time equivalent)1 25,520 22,161 20,560 3,359 15 1,600 8 Total assets (in € bn)1,2 264 258 246 6 2 12 5 Risk-weighted assets (in € bn)1 69 74 65 (5) (7) 9 14 of which: operational risk RWA (in € bn)1 6 5 6 0 5 (0) (5) Leverage exposure (in € bn)1 307 321 300 (14) (4) 21 7 Deposits (in € bn)1 289 289 270 1 0 18 7 Loans (gross of allowance for loan losses, in € bn)1 117 122 122 (5) (4) (1) (1) Cost/income ratio3 57.9% 66.1% 88.2% N/M (8.2)ppt N/M (22.1)ppt Post-tax return on average shareholders' equity4 15.2% 10.0% 3.2% N/M 5.2ppt N/M 6.8ppt Post-tax return on average tangible shareholders’ equity4 16.6% 10.9% 3.5% N/M 5.7ppt N/M 7.4ppt N/M – Not meaningful Prior year’s comparatives aligned to presentation in the current year 1 As of year-end 2 Segment assets are presented on a consolidated basis, i.e., the amounts do not include intersegment balances 3 Noninterest expenses as a percentage of total net revenues, which are defined as net interest income before provision for credit losses plus noninterest income 4 For the post-tax return on average shareholders’ equity and average tangible shareholders’ equity of the segments, the Group effective tax rate was adjusted to exclude the impact of permanent differences not attributed to the segments, so that the segment tax rates were 28 % for the years 2023, 2022 and 2021; for further information, please refer to “Supplementary Information (Unaudited): Non-GAAP Financial Measures” of this report
Segment Results of Operations, Investment Bank [text block table]
Investment Bank
2023 increase (decrease)
from 2022
2022 increase (decrease)
from 2021
in € m.
(unless stated otherwise)
2023
2022
2021
in € m.
in %
in € m.
in %
Net revenues
Fixed Income, Currency (FIC) Sales & Trading
7,974
8,935
7,063
(961)
(11)
1,871
26
Debt Origination
843
412
1,573
431
105
(1,161)
(74)
Equity Origination
102
101
544
1
1
(443)
(81)
Advisory
301
485
491
(184)
(38)
(6)
(1)
Origination & Advisory
1,246
998
2,608
249
25
(1,610)
(62)
Other
(60)
84
(40)
(144)
N/M
124
N/M
Total net revenues
9,160
10,016
9,631
(856)
(9)
385
4
Provision for credit losses
431
319
104
112
35
215
N/M
Noninterest expenses
Compensation and benefits
2,524
2,376
2,197
149
6
179
8
General and administrative expenses
4,136
4,075
3,843
61
1
232
6
Impairment of goodwill and other intangible assets
233
0
0
233
N/M
0
N/M
Restructuring activities
(3)
15
47
(18)
N/M
(32)
(68)
Total noninterest expenses
6,890
6,466
6,087
424
7
379
6
Noncontrolling interests
3
15
(17)
(12)
(79)
32
N/M
Profit (loss) before tax
1,836
3,217
3,458
(1,381)
(43)
(241)
(7)
Employees (front office, full-time equivalent)1
4,940
4,334
4,212
606
14
122
3
Employees (business-aligned operations, full-time equivalent)1
3,050
3,298
2,928
(248)
(8)
370
13
Employees (allocated central infrastructure, full-time equivalent)1
11,989
10,788
9,787
1,201
11
1,001
10
Total employees (full-time equivalent)1
19,979
18,420
16,927
1,559
8
1,493
9
Total assets (in € bn)1,2
658
677
616
(18)
(3)
61
10
Risk-weighted assets (in € bn)1
140
139
141
0
0
(1)
(1)
of which: operational risk RWA (in € bn)1
22
23
25
(2)
(7)
(2)
(7)
Leverage exposure (in € bn)1
546
530
530
17
3
(1)
(0)
Deposits (in € bn)1
18
16
13
1
9
4
28
Loans (gross of allowance for loan losses, in € bn)1
101
103
93
(2)
(2)
10
11
Cost/income ratio3
75.2%
64.6%
63.2%
N/M
10.7ppt
N/M
1.4ppt
Post-tax return on average shareholders’ equity4
3.8%
8.0%
9.0%
N/M
(4.2)ppt
N/M
(1.0)ppt
Post-tax return on average tangible shareholders’ equity4
4.0%
8.4%
9.4%
N/M
(4.3)ppt
N/M
(1.1)ppt
N/M – Not meaningful
Prior year’s comparatives aligned to presentation in the current year
1 As of year-end
2 Segment assets are presented on a consolidated basis, i.e., the amounts do not include intersegment balances
3 Noninterest expenses as a percentage of total net revenues, which are defined as net interest income before provision for credit losses plus noninterest income
4 For the post-tax return on average shareholders’ equity and average tangible shareholders’ equity of the segments, the Group effective tax rate was adjusted to exclude the impact of permanent differences not attributed to the segments, so that the segment tax rates were 28 % for the years 2023, 2022 and 2021; for further information, please refer to “Supplementary Information (Unaudited): Non-GAAP Financial Measures” of this report
Segment Results of Operations, Private Bank [text block table]
Private Bank
2023 increase (decrease)
from 2022
2022 increase (decrease)
from 2021
in € m.
(unless stated otherwise)
2023
2022
2021
in € m.
in %
in € m.
in %
Net revenues:
Private Bank Germany
6,070
5,325
5,006
745
14
319
6
International Private Bank
3,505
3,828
3,226
(322)
(8)
601
19
Premium Banking
986
942
934
44
5
8
1
Wealth Management & Bank for Entrepreneurs
2,520
2,886
2,292
(366)
(13)
593
26
Total net revenues
9,575
9,153
8,233
422
5
920
11
of which:
Net interest income
6,160
5,223
4,601
937
18
622
14
Commissions and fee income
2,852
3,155
3,206
(303)
(10)
(51)
(2)
Remaining income
563
775
426
(212)
(27)
349
82
Provision for credit losses
783
583
446
201
34
137
31
Noninterest expenses:
Compensation and benefits
2,806
2,785
2,808
21
1
(22)
(1)
General and administrative expenses
4,742
4,176
4,939
566
14
(764)
(15)
Impairment of goodwill and other intangible assets
0
0
0
0
N/M
0
N/M
Restructuring activities
228
(113)
173
341
N/M
(285)
N/M
Total noninterest expenses
7,777
6,848
7,920
929
14
(1,072)
(14)
Noncontrolling interests
0
0
0
(0)
(12)
0
N/M
Profit (loss) before tax
1,015
1,722
(133)
(707)
(41)
1,855
N/M
Employees (front office, full-time equivalent)1
20,599
21,092
21,973
(492)
(2)
(881)
(4)
Employees (business-aligned operations, full-time equivalent)1
5,637
5,816
6,060
(179)
(3)
(243)
(4)
Employees (allocated central infrastructure, full-time equivalent)1
12,215
10,808
9,426
1,407
13
1,382
15
Total employees (full-time equivalent)1
38,451
37,716
37,458
735
2
258
1
Total assets (in € bn)1,2
331
333
310
(2)
(1)
22
7
Risk-weighted assets (in € bn)1
86
88
85
(1)
(2)
2
3
of which: operational risk RWA (in € bn)1
8
8
8
0
0
0
1
Leverage exposure (in € bn)1
339
344
321
(6)
(2)
24
7
Deposits (in € bn)1
308
317
313
(10)
(3)
4
1
Loans (gross of allowance for loan losses, in € bn)1
261
265
254
(4)
(1)
10
4
Assets under Management (in € bn)1,3
559
518
554
40
8
(36)
(6)
Net flows (in € bn)
29
30
30
(1)
(4)
(0)
(1)
Cost/income ratio4
81.2%
74.8%
96.2%
N/M
6.4ppt
N/M
(21.4)ppt
Post-tax return on average shareholders' equity5
4.1%
8.3%
(1.5)%
N/M
(4.2)ppt
N/M
9.8ppt
Post-tax return on average tangible shareholders’ equity5
4.5%
9.0%
(1.7)%
N/M
(4.6)ppt
N/M
10.7ppt
N/M – Not meaningful
Prior year’s comparatives aligned to presentation in the current year
1 As of year-end
2 Segment assets are presented on a consolidated basis, i.e., the amounts do not include intersegment balances
3 The Group defines assets under management as (a) assets held on behalf of customers for investment purposes and/or (b) client assets that are managed by the bank; assets under management are managed on a discretionary or advisory basis, or these assets are deposited with the bank; deposits are considered assets under management if they serve investment purposes; in the Private Bank Germany and Premium Banking, this includes term deposits and savings deposits; in Wealth Management & Bank for Entrepreneurs, it is assumed that all customer deposits are held with the bank primarily for investment purposes; in instances in which Private Bank distributes investment products qualifying as assets under management which are managed by DWS these are reported as assets under management for Private Bank and for Asset Management (DWS) because they are two distinct, independent qualifying services
4 Noninterest expenses as a percentage of total net revenues, which are defined as net interest income before provision for credit losses plus noninterest income
5 For the post-tax return on average shareholders’ equity and average tangible shareholders’ equity of the segments, the Group effective tax rate was adjusted to exclude the impact of permanent differences not attributed to the segments, so that the segment tax rates were 28 % for the years 2023, 2022 and 2021; for further information, please refer to “Supplementary Information (Unaudited): Non-GAAP Financial Measures” of this report
Segment Results of Operations, Asset Management [text block table]
Asset Management
2023 increase (decrease)
from 2022
2022 increase (decrease)
from 2021
in € m.
(unless stated otherwise)
2023
2022
2021
in € m.
in %
in € m.
in %
Net revenues
Management fees
2,314
2,458
2,370
(143)
(6)
88
4
Performance and transaction fees
128
125
212
2
2
(86)
(41)
Other
(59)
24
126
(84)
N/M
(102)
(81)
Total net revenues
2,383
2,608
2,708
(225)
(9)
(100)
(4)
Provision for credit losses
(1)
(2)
5
1
(50)
(6)
N/M
Noninterest expenses
Compensation and benefits
891
899
822
(8)
(1)
77
9
General and administrative expenses
934
883
846
50
6
37
4
Impairment of goodwill and other intangible assets
0
68
0
(68)
N/M
68
N/M
Restructuring activities
0
0
2
(0)
(15)
(2)
(95)
Total noninterest expenses
1,825
1,850
1,670
(26)
(1)
180
11
Noncontrolling interests
163
174
223
(12)
(7)
(49)
(22)
Profit (loss) before tax
396
584
809
(188)
(32)
(225)
(28)
Employees (front office, full-time equivalent)1
2,023
2,024
1,913
(2)
(0)
111
6
Employees (business-aligned operations, full-time equivalent)1
2,363
2,258
2,159
105
5
100
5
Employees (allocated central infrastructure, full-time equivalent)1
576
495
442
81
16
53
12
Total employees (full-time equivalent)1
4,962
4,778
4,514
185
4
264
6
Total assets (in € bn)1,2
10
10
10
0
2
(0)
(2)
Risk-weighted assets (in € bn)1
15
13
14
2
18
(2)
(11)
of which: operational risk RWA (in € bn)1
3
3
3
0
2
0
2
Leverage exposure (in € bn)1
10
9
11
0
3
(1)
(11)
Assets under Management (in € bn)1,3
896
821
928
75
9
(106)
(11)
Net flows (in € bn)
28
(20)
48
48
N/M
(68)
N/M
Cost/income ratio4
76.6%
71.0%
61.7%
N/M
5.6ppt
N/M
9.3ppt
Post-tax return on average shareholders' equity5
4.9%
7.4%
11.0%
N/M
(2.5)ppt
N/M
(3.6)ppt
Post-tax return on average tangible shareholders’ equity5
11.3%
17.1%
25.8%
N/M
(5.9)ppt
N/M
(8.7)ppt
N/M – Not meaningful
Prior year’s comparatives aligned to presentation in the current year
1 As of year-end
2 Segment assets are presented on a consolidated basis, i.e. the amounts do not include intersegment balances
3 The Group defines assets under management as (a) assets held on behalf of customers for investment purposes and/or (b) client assets that are managed by the bank; assets under management are managed on a discretionary or advisory basis, or these assets are deposited with the bank; deposits are considered assets under management if they serve investment purposes; in the Private Bank Germany and Premium Banking, this includes term deposits and savings deposits; in Wealth Management & Bank for Entrepreneurs, it is assumed that all customer deposits are held with the bank primarily for investment purposes; in instances in which Private Bank distributes investment products qualifying as assets under management which are managed by DWS these are reported as assets under management for Private Bank and for Asset Management (DWS) because they are two distinct, independent qualifying services
4 Noninterest expenses as a percentage of total net revenues, which are defined as net interest income before provision for credit losses plus noninterest income
5 For the post-tax return on average shareholders’ equity and average tangible shareholders’ equity of the segments, the Group effective tax rate was adjusted to exclude the impact of permanent differences not attributed to the segments, so that the segment tax rates were 28 % for the years 2023, 2022 and 2021; for further information, please refer to “Supplementary Information (Unaudited): Non-GAAP Financial Measures” of this report
Segment Results of Operations, Corporate & Other [text block table]
Corporate & Other
2023 increase (decrease)
from 2022
2022 increase (decrease)
from 2021
in € m.
(unless stated otherwise)
2023
2022
2021
in € m.
in %
in € m.
in %
Net revenues
2,321
(1,051)
(186)
3,372
N/M
(866)
N/M
Provision for credit losses
26
(9)
(36)
35
N/M
27
(76)
Noninterest expenses
Compensation and benefits
3,372
3,231
3,145
141
4
86
3
General and administrative expenses
(2,634)
(2,192)
(1,862)
(441)
20
(331)
18
Impairment of goodwill and other intangible assets
0
0
0
0
N/M
0
N/M
Restructuring activities
(1)
(2)
(2)
1
(40)
0
(22)
Total noninterest expenses
738
1,037
1,281
(299)
(29)
(244)
(19)
Noncontrolling interests
(166)
(190)
(206)
24
(12)
16
(8)
Profit (loss) before tax
1,724
(1,890)
(1,225)
3,614
N/M
(665)
54
Employees (C&O, net, full-time equivalent)1
1,218
1,856
3,510
(638)
(34)
(1,654)
(47)
Employees (central infrastructure allocated to businesses, full-time equivalent)1
34,588
30,300
26,937
4,288
14
3,363
12
Total Employees (full-time equivalent)1
35,806
32,156
30,447
3,650
11
1,709
6
Risk-weighted assets (in € bn)1
40
46
46
(6)
(13)
(0)
(0)
Leverage exposure (in € bn)1
39
36
62
3
7
(25)
(41)
N/M – Not meaningful
Prior year’s comparatives aligned to presentation in the current year
1 As of year-end
Entity-Wide Disclosures by Geographic Area [text block table]
in € m.
2023
2022
2021
Germany:
Corporate Bank
4,223
3,166
2,595
Investment Bank
573
587
450
Private Bank
6,570
5,876
5,479
Asset Management
1,211
1,266
1,385
Total Germany
12,577
10,895
9,909
UK:
Corporate Bank
192
143
144
Investment Bank
3,503
4,343
3,642
Private Bank
54
3
(2)
Asset Management
350
356
336
Total UK
4,099
4,844
4,120
Rest of Europe, Middle East and Africa:
Corporate Bank
1,303
1,162
900
Investment Bank
460
383
255
Private Bank
1,987
2,191
1,783
Asset Management
274
275
286
Total Rest of Europe, Middle East and Africa
4,024
4,011
3,223
Americas (primarily United States):
Corporate Bank
1,010
974
750
Investment Bank
3,042
3,033
3,904
Private Bank
462
466
364
Asset Management
432
580
537
Total Americas
4,945
5,053
5,555
Asia/Pacific:
Corporate Bank
988
892
764
Investment Bank
1,583
1,671
1,381
Private Bank
503
617
608
Asset Management
115
131
163
Total Asia/Pacific
3,188
3,311
2,917
Corporate & Other
2,321
(1,051)
(186)
Consolidated net revenues1
31,155
27,063
25,538
Prior year’s comparatives aligned to presentation in the current year
1 Consolidated net revenues comprise interest and similar income, interest expenses and total noninterest income (including net commission and fee income); revenues are attributed to countries based on the location in which the Group’s booking office is located; the location of a transaction on the Group’s books is sometimes different from the location of the headquarters or other offices of a customer and different from the location of the Group’s personnel who entered into or facilitated the transaction; where the Group records a transaction involving its staff and customers and other third parties in different locations frequently depends on other considerations, such as the nature of the transaction, regulatory considerations and transaction processing considerations