Deutsche Bank

Corporate Responsibility
Report 2015

Selected financial and non-financial figures

The Group at a glance

2015

2014

1

In order to reflect the capital increase in 2014, the historical share prices until and including June 5, 2014 (last trading day cum rights) have been adjusted with retroactive effect by multiplication with the correcting factor of 0.9538 (R-Factor).

2

Earnings were adjusted by € 228 million net of tax for the coupons paid on Additional Tier 1 Notes in April 2015.

3

The number of average basic and diluted shares outstanding has been adjusted for all periods before June 2014 in order to reflect the effect of the bonus component of subscribtion rights issued in June 2014 in connection with the capital increase.

4

Total noninterest expenses as a percentage of total net interest income before provision for credit losses plus noninterest income.

5

Compensation and benefits as a percentage of total net interest income before provision for credit losses plus noninterest income.

6

Noncompensation noninterest expenses, which are 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.

7

Figures presented for 2015 and 2014 are based on the transitional rules (“CRR/CRD 4”) and the full application (“CRR/CRD 4 fully loaded”) of the CRR/CRD 4 framework. The capital ratios relate the respective capital to risk-weighted assets.

 

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.

Share price at period end1

€ 22.53

€ 24.99

Share price high1

€ 33.42

€ 38.15

Share price low1

€ 20.69

€ 22.66

Basic earnings per share

€ (5.06)2

€ 1.343

Diluted earnings per share

€ (5.06)2

€ 1.313

Average shares outstanding, in m., basic

1,388

1,2423

Average shares outstanding, in m., diluted

1,388

1,2693

Post-tax return on average shareholders’ equity

(9.8) %

2.7 %

Post-tax return on average active equity

(9.9) %

2.7 %

Post-tax return on average tangible shareholders’ equity

(12.3) %

3.5 %

Cost/income ratio4

115.3 %

86.7 %

Compensation ratio5

39.7 %

39.2 %

Noncompensation ratio6

75.7 %

47.5 %

 

 

 

in € m.

 

 

Total net revenues

33,525

31,949

Provision for credit losses

956

1,134

Total noninterest expenses

38,667

27,699

Income (loss) before income taxes

(6,097)

3,116

Net income (loss)

(6,772)

1,691

 

 

 

 

Dec 31, 2015
in € bn.

Dec 31, 2014
in € bn.

Total assets

1,629

1,709

Total Shareholders’ equity

62.7

68.4

Book value per basic share outstanding

€ 45.16

€ 49.32

Tangible book value per basic share outstanding

€ 37.90

€ 38.53

Common Equity Tier 1 capital ratio (CRR/CRD 4)7

13.2 %

15.2 %

Common Equity Tier 1 capital ratio (CRR/CRD 4 fully loaded)7

11.1 %

11.7 %

Tier 1 capital ratio (CRR/CRD 4)7

14.7 %

16.1 %

Tier 1 capital ratio (CRR/CRD 4 fully loaded)7

12.3 %

12.9 %

Long-term rating

2015

2014

Moody’s Investors Service

A3

A3

Standard & Poor’s

BBB+

A

Fitch Ratings

A-

A+

DBRS Ratings

A

Sustainability ratings

 

 

Carbon Disclosure Index (on a band from A to E)

100/Band B

92/Band B

OEKOM research (on a scale from A+ to D–)

C/Prime 

C/Prime

RobecoSAM (on a scale from 0 to 100)

72

70

Sustainalytics (on a scale from 0 to 100)

67

62

Conduct

2015

2014

2013

1

Sal. Oppenheim integrated in 2015; excluding legal entities outside of Deutsche Bank's corporate title system, primarily Postbank, DB Investment Services and BHF (sold in 2014).

2

Representative global B2B survey in 16 countries; top 2 ratings on a 5-point scale.

*

information part of KPMG limited assurance process.

Employees with completed compliance training

99 %

97 %

97 %

Number of transactions reviewed within the ES Risk Framework*

1,346

1,250

721

Clients

Dec 31, 2015

Dec 31, 2014

Dec 31, 2013

Assets under management integrating environmental, social, and governance factors in € bn.*

7.7

5.4

5.07

Estimated cumulative financing to micro-borrowers since 1997 in US $ bn.

1.8

1.75

1.67

Cumulative number of microloans financed since 1997 in m.

4.0

3.9

3.8

All KfW environmental programs, including energy-efficient construction and renovation in € m.

277.1

304.1

347.6

Volume of infrastructure and energy asset financing in € bn.

5.0

4.2

2.7

People

 

 

 

Number of branches

2,790

2,814

2,907

thereof in Germany

1,827

1,845

1,924

Employees (full-time equivalent)

101,104

98,138

98,254

thereof in Germany

45,757

45,392

46,377

Gender diversity1

 

 

 

Female staff in total

41.7 %

41.7 %

41.7 %

Female staff (Officers)

32.5 %

31.7 %

31.1 %

Female Managing Directors and Directors

20.5 %

19.4 %

18.7 %

Female members on Supervisory Board

35 %

35 %

35 %

Female members on Management Board

1

0

0

Training expenses in € m.

92

82

86

Hired global graduates

766

577

501

Share of female hired graduates

37.1 %

34.3 %

33.7 %

Voluntary staff turnover rate

7.3 %

6.6 %

6.4 %

Employees participating in the Bank’s volunteer programs in % of total staff (excluding Postbank)

22 %

21 %

25 %

Total employee donations and matching by Deutsche Bank in € m.

13.0

12.5

9.9

Corporate citizenship

 

 

 

Total investments in € m.

76.8

80.5

78.2

Participants in education/Born to Be projects

1,316,068

1,168,913

411,121

Beneficiaries of social projects

988,348

1,593,177

439,635

People reached with Deutsche Bank’s art and music programs

2,450,832

3,085,852

1,211,495

Visitors at Deutsche Bank KunstHalle, Berlin

98,595

83454

125,000

Participants in the Education Programme of the Berliner Philharmoniker

6,259

4,568

4,222

External perception of Deutsche Bank as a responsible corporate citizen (global B2B market2)

68 %

64 %

51 %

Environmental data1*

 

2015

2014

2013

1

All data reported as 2015 is as was available at the time of reporting. Some data was extrapolated based on the previous year.
Changes from the figures published last year for 2014 are mainly due to:
a. electricity grid factor changes
b. energy data updates where data wasn’t available at the time of reporting last year
c. assumption changes
d. extrapolation methodology changes

2

The GHG reporting boundary is defined according to the GHG Protocol’s operational control approach and includes businesses and sites where Deutsche Bank staff hold executive positions in the company, and Deutsche Bank’s operational policies are implemented. Scope 1 GHG emissions are from the combustion of fossils fuels, owned and leased vehicles, and refrigerant leakage from cooling equipment; Scope 2 are delivered energy: electricity, district heating, steam and cooling; Scope 3 are from indirect emissions from business travel, i.e. where emissions sources are controlled by others (air, rail, taxi and hired vehicles travel).

3

Deutsche Bank is reporting GHG emissions according to the GHG Protocol’s “Scope 2 Guidance: an amendment to the Corporate Standard” released in January 2015. In line with the requirement for dual reporting, the table shows GHG emissions from the market based approach, using supplier specific emission factors, RE-DISS residual emission factors or country grid average factor.

The contractual instruments supporting the zero carbon supplier specific emission factors used by countries with a large renewable electricity supply include: Renewable Electricity Certificates (RECs) in the USA and Canada, Renewable Guarantees of Origin (REGOs) for selected sites in the UK, Guarantees of Origin (GOs) in Germany, and International Renewable Energy Certificates (IRECs) in Spain. Alongside these major consuming countries, a number of others also hold zero carbon electricity contracts: Austria, Italy, Netherlands, Belgium, Luxembourg, Australia, Portugal, Switzerland, and Ireland.

Deutsche Bank’s total emissions 2015 from market based reporting are: 271,807 tonnes CO2e. The total emissions from location based reporting are: 510,063 tonnes CO2e. The reduction in emissions of 238,256 tonnes CO2e is primarily due to the renewable energy contracts in place in the three largest electricity consuming countries where the bank operates: Germany, UK and the US.

The base year of 2007 was chosen as it was the first year where mostly reliable and complete data was available, and the methodology and processes in place to calculate the global emissions of the organisation. The most significant changes to the base year have resulted from improved extrapolation methodologies. The base year market based methodology emissions were 627,000 tonnes CO2e.

4

Total emissions are based on actual, estimated, or extrapolated data. All assumptions and calculation methodologies are in line with the ISO 14064 Standard Guidelines with supporting documentation. The most appropriate emission factors have been used for each activity data type, from internationally recognized sources, e.g. DEFRA (2014 and 2015), GHG Protocol, eGRID, and IEA (2015), or if more relevant, from country or contract specific sources. The factors include all GHGs where possible and the gases’ GWP as per the IPCC assessments.

5

For 2015, carbon neutrality was accomplished by the purchase and retirement of verified emissions reduction units.

6

Calculated electricity and heating intensities are used to estimate electricity and heating demand where data is not available. Calculated intensities from refrigerant gas loss are also used to extrapolate where data is not available.

7

Total energy consumption in gigawatt hours comprises all sources used in Scope 1 and 2: natural gas, liquid fossil fuels (mobile and stationary), renewable and grid electricity, district heating, cooling, and steam. Standard Joules to kWh conversion factors were used. There is no sale of electricity, heating, cooling or steam.Energy consumption reductions achieved in offices total 7.39 GWh from 131 initiatives (these saves are in-year, i.e. a save completed in June only gets 6 months of saves towards 2015). In branches the reduction is 2.17GWh from 37 initiatives (these saves are annualised, i.e. a save completed in June counts for the entire 12 months of 2015). The types of energy included in the reductions are Electricity, District Cooling, District Heat, Natural Gas.The energy calculations are based on Eco-Performance Management Office (EcoPMO) Standardised Calculation tools. In addition all EIAs are reviewed and need Eco PMO approval before they can be counted.

8

Emission factors from IEA for electricity were used for the countries where DB operates (except for the US where the eGRID factors were used). The former set of factors is only available in tonnes of CO2, while eGRID factors are specified in CO2e. However, as the proportion of non-CO2 greenhouse gas emissions is minute compared to CO2, we are reporting all emissions from electricity in CO2e.

 

*

information part of KPMG limited assurance process.

Greenhouse gas (GHG) emissions

Variance from previous year in %

 

 

 

In t of CO2e (unless stated differently)

 

 

 

Total Market based GHG emissions2,3

-5 %

271,807

285,278

299,038

Market based emissions from building energy use

-6 %

169,718

179,644

178,272

Emissions from business travel

-3 %

95,995

98,835

108,715

Scope 1, direct GHG emissions2,4

-1 %

59,131

59,896

70,286

From natural gas consumption

-1 %

28,469

28,660

33,975

From liquid fossil fuels

-5 %

1,061

1,116

2,096

From HFCs

-10 %

6,093

6,799

12,051

From owned/leased vehicles

1 %

23,508

23,320

22,165

Scope 2, indirect GHG emissions2,3,4

-6 %

140,189

149,867

142,202

Market based emissions from electricity consumption8

-8 %

104,325

112,949

102,444

From steam, district heating and cooling

-3 %

35,864

36,918

39,758

Scope 3, other indirect GHG emissions2,4

-4 %

72,487

75,515

86,551

From air travel

-3 %

66,574

68,524

80,904

From rented vehicles and taxis

-14 %

4,697

5,453

4,264

From rail travel

-21 %

1,216

1,538

1,382

Emissions reductions

 

 

 

 

Off set of market based GHG emissions by retirement of high-quality carbon certificates5

0 %

100 %

100 %

100 %

Market based GHG emissions (incl. renewables, excluding carbon credits)/rentable area per sqm

-2 %

0.066

0.068

0.075

Market based GHG emissions (incl. renewables, excluding carbon credits) per FTE

-6 %

2.75

2.92

3.05

Total energy consumption in GJ6

-3 %

3,863,888

3,992,236

4,232,468

Total energy consumption in GWh7

-3 %

1,073

1,109

1,176

Energy consumption in GWh

-4 %

714

745

768

Energy from primary fuel sources (oil, gas, etc.) in GWh

0 %

202

203

228

Delivered heat and cooling in GWh

-2 %

158

161

179

Electricity from renewables in GWh

-1 %

567

575

605

Space-normalized energy consumption in kWh per sqm

-1 %

262

264

295

FTE-normalized energy consumption in kWh per FTE

-4 %

10,857

11,357

12,000