e6vk
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 6-K
REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13a-16 OR 15d-16
UNDER THE SECURITIES EXCHANGE ACT OF 1934
For the month of December 2009
DEUTSCHE BANK CORPORATION
(Translation of Registrant’s Name Into English)
Deutsche Bank Aktiengesellschaft
Theodor-Heuss-Allee 70
60486 Frankfurt am Main
Germany
(Address of Principal Executive Offices)
Indicate by check mark whether the registrant files or will file annual reports under cover of
Form 20-F or Form 40-F.
Form 20-F þ Form 40-F o
Indicate by check mark whether the registrant by furnishing the information contained in this
form is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under
the Securities Exchange Act of 1934.
Yeso No þ
Explanatory note
This Report on Form 6-K contains press releases published by Deutsche Bank AG on December 14
and 15, 2009.
Deutsche Bank announces Phase 4 of its management agenda
December 14, 2009
Deutsche Bank today announces the launch of ‘Phase 4’ of its management agenda. Josef
Ackermann, Chairman of the Management Board and of the Group Executive Committee, will lead the
presentation of this new phase at a Group Investor Day in Frankfurt.
Phase 4 of Deutsche Bank’s management agenda runs through 2011, and identifies four strategic
priorities:
1. Increasing profitability in the Corporate and Investment Bank (CIB) with renewed risk and
balance sheet discipline;
2. A focus on core Private Clients and Asset Management (PCAM) businesses and home market
leadership;
3. A focus on Asia as a key driver of revenue growth;
4. A renewed emphasis on Deutsche Bank’s performance culture.
By delivering this strategy, Deutsche Bank sees a pre-tax profit potential in 2011 of
approximately EUR 10bn from its operating businesses, before adjustments for Corporate Investments,
Consolidations & Adjustments, and assuming no further market dislocations, normalising interest
rates, stabilising asset valuations, an improved margin environment compared to pre-crisis and
moderate global GDP growth over the period. Deutsche Bank also reaffirms its previously-stated
objectives for return on equity, Tier 1 capital ratio and balance sheet leverage, and to sustained
capital and risk discipline.
Ackermann commented: “Deutsche Bank has demonstrated resilience through an exceptionally
difficult period for our industry and the global economy. This leaves us very well positioned to
outperform and to deliver significant, profitable growth for our shareholders. In this new phase of
our management agenda, our objectives are clear. Our recent strategic moves, in Germany and in
other key markets, underline our determination to succeed.”
The meeting will commence at 18:00 CET this evening and continue at 08:00 CET tomorrow
morning. Michael Cohrs and Anshu Jain will discuss the implementation of Phase 4 for CIB; Kevin
Parker, Carsten Schildknecht and Rainer Neske will discuss implementation in PCAM, and Hugo
Banziger, Group Chief Risk Officer, will discuss the bank’s risk and capital management strategy.
The event will be broadcast live on Deutsche Bank’s website www.deutsche-bank.com/ir/video-audio
from 18:00 CET, recommencing at 08:00 CET tomorrow morning. The respective slides will be available
at 18:00 CET today and at 08:00 CET tomorrow.
Ackermann outlines Phase 4 potential of business divisions
December 15, 2009
Josef Ackermann last night outlined the breakdown of the potential pre-tax profit in 2011 from
Deutsche Bank’s operating businesses (see breakdown below).
Following the Bank’s announcement yesterday of Phase 4 of the Management Agenda — as he
previously outlined to employees in an email in October (A message from Josef Ackermann) — the
Chairman of the Management Board and of the Group Executive Committee lead a presentation before
about one hundred analysts and investors outlining the strategy of the new phase at a Group
Investor Day in Frankfurt. The presented profit potential is based on the assumption that there
will be no further market dislocations, normalising interest rates, stabilising asset valuations,
an improved margin environment compared to pre-crisis and moderate global GDP growth over the
period.
Deutsche Bank also reaffirms its previously-stated objectives for return on equity, Tier 1
capital ratio and balance sheet leverage, and to sustained capital and risk discipline.
Full coverage of the event, which takes place on 14-15 December, will be published on
dbnetwork.
Phase 4 potential IBIT for 2011
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Corporate Banking & Securities
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EUR 6.3bn |
Global Transaction Banking
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EUR 1.3bn |
Asset & Wealth Management
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EUR 1.0bn |
Private & Business Clients
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EUR 1.5bn |
Total
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EUR 10.0bn |
Forward-looking statements contain risks
This report contains forward-looking statements. Forward-looking statements are statements
that are not historical facts; they include statements about our beliefs and expectations. Any
statement in this report that states our intentions, beliefs, expectations or predictions (and the
assumptions underlying them) is a forward-looking statement. These statements are based on plans,
estimates and projections as they are currently available to the management of Deutsche Bank.
Forward-looking statements therefore speak only as of the date they are made, and we undertake no
obligation to update publicly any of them in light of new information or future events.
By their very nature, forward-looking statements involve risks and uncertainties. A number of
important factors could therefore cause actual results to differ materially from those contained in
any forward-looking statement. Such factors include the conditions in the financial markets in
Germany, in Europe, in the United States and elsewhere from which we derive a substantial portion
of our trading revenues, potential defaults of borrowers or trading counterparties, the
implementation of our strategic initiatives, the reliability of our risk management policies,
procedures and methods, and other risks referenced in our filings with the U.S. Securities and
Exchange Commission. Such factors are described in detail in our SEC Form 20-F of March 24, 2009 on
pages 7 through 18 under the heading “Risk Factors.”
Copies of this document are readily available upon request or can be downloaded from
www.deutsche-bank.com/ir.
Use of non-GAAP financial measures
This report contains non-GAAP financial measures, which are measures of our historical or
future performance, financial position or cash flows that contain adjustments that exclude or
include amounts that are included or excluded, as the case may be, from the most directly
comparable measure calculated and presented in accordance with IFRS in our financial statements.
Examples of our non-GAAP financial measures and the most direct comparable IFRS financial measures
are set forth in the table below:
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Non-GAAP Financial Measure |
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Most Directly Comparable IFRS Financial Measure |
IBIT attributable to Deutsche Bank
shareholders (target definition)
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Income (loss) before income tax |
Average active equity
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Average shareholders’ equity |
Pre-tax return on average active equity
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Pre-tax return on average
shareholders’ equity |
Pre-tax return on average active equity
(target definition)
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Pre-tax return on average
shareholders’ equity |
Net income (loss) attributable to
Deutsche Bank shareholders (basis for
target definition EPS)
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Net income (loss) attributable
to Deutsche Bank shareholders |
Diluted earnings per share (target
definition)
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Diluted earnings per share |
For descriptions of these and other non-GAAP financial measures, please refer to pages (v), (vi),
S-17, S-18 and S-19 of our 2008 Annual Report on Form 20-F, and “Other Information” of our Interim
Report as of September 30, 2009.
Use of Internet Addresses
This document contains inactive textual addresses of Internet websites operated by us and
third parties. Reference to such websites is made for informational purposes only, and information
found at such websites is not incorporated by reference into this document.
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly
caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
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Date: December 15, 2009
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Deutsche Bank Aktiengesellschaft
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By: |
/s/ Gurdon Wattles
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Name: |
Gurdon Wattles |
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Title: |
Managing Director |
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By: |
/s/ Mathias Otto
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Name: |
Mathias Otto |
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Title: |
Managing Director and Senior Counsel |
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