»In 2017 we recorded the first pre-tax profit in three years despite a challenging market environment, low interest rates and further investments in technology and controls. Only a charge related to US tax reform at the end of the year meant that we had to post a full-year after-tax loss. We believe we are firmly on the path to producing growth and higher returns with sustained discipline on costs and risks. The Postbank merger and partial flotation of DWS are both advancing well. We have made progress, but we are not yet satisfied with our results.«
John Cryan, Media Release, February 2, 2018
(1) Full implementation of Basel 3
(2) Total noninterest expenses excluding restructuring and severance, litigation, impairment of goodwill and other intangibles
(3) We recently announced our expectation that adjusted costs in 2018 will be approximately € 23 bn, versus our target of € 22 bn. The difference largely reflects € 900 m of costs associated with businesses that are being sold. Those sales had been expected to have been completed by 2018 but have now been delayed or suspended.