|
|
| |||
|---|---|---|---|---|
|
€m |
2006 |
2007 | ||
|
|
|
| ||
|
Loans and advances to other banks |
|
| ||
|
Loans and advances to other banks (loans and receivables) |
16,350 |
24,581 | ||
|
of which fair value hedges: 1,516 (previous year: 2,136) |
|
| ||
|
|
|
| ||
|
Loans and advances to customers |
|
| ||
|
of which secured by mortgage charges: 50,372 |
|
| ||
|
Loans and advances to customers (loans and receivables) |
80,425 |
84,133 | ||
|
of which fair value hedges: 1,356 (previous year: 1,500) |
|
| ||
|
Loans and advances to customers (held to maturity) |
518 |
456 | ||
|
Loans and advances to customers (fair value option) |
6,181 |
7,110 | ||
|
|
87,124 |
91,699 | ||
|
|
|
| ||
|
Allowance for losses on loans and advances |
|
| ||
|
Loans and advances to other banks |
0 |
0 | ||
|
Loans and advances to customers |
–1,155 |
–1,154 | ||
|
|
–1,155 |
–1,154 | ||
|
|
|
| ||
|
Trading assets |
|
| ||
|
Bonds and other fixed-income securities |
9,755 |
4,139 | ||
|
Held-for-trading building loans held for sale |
208 |
209 | ||
|
Equities and other non-fixed-income securities |
28 |
161 | ||
|
Positive fair value of trading derivatives |
2,942 |
5,155 | ||
|
Positive fair value of banking book derivatives |
276 |
131 | ||
|
Positive fair value of derivatives in connection |
71 |
141 | ||
|
|
13,280 |
9,936 | ||
|
|
|
| ||
|
Hedging derivatives (positive fair values) |
|
| ||
|
Assets |
300 |
265 | ||
|
Liabilities |
185 |
156 | ||
|
|
485 |
421 | ||
|
|
|
| ||
|
Investment securities |
|
| ||
|
Bonds and other fixed-income securities |
|
| ||
|
Investment securities (loans and receivables) |
19,031 |
26,600 | ||
|
of which fair value hedges: 5,447 (previous year: 5,369) |
|
| ||
|
Held to maturity |
4,956 |
730 | ||
|
Available for sale |
33,379 |
38,755 | ||
|
of which fair value hedges: 14,633 (previous year: 15,770) |
|
| ||
|
|
57,366 |
66,085 | ||
|
|
|
| ||
|
Equities and other non-fixed-income securities |
|
| ||
|
Available for sale |
5,830 |
2,418 | ||
|
|
63,196 |
68,503 | ||
|
Receivables and other securities from financial services |
179,280 |
193,986 | ||
Receivables and other securities from financial services relate exclusively to the Deutsche Postbank Group. Of the loans and advances to customers, €3,546 million is attributable to public-sector loans (previous year: €5,444 million), and €64,781 million to private building finance (previous year: €59,148 million). The allowance for losses on loans and advances covers all identifiable credit risks. Portfolio-based valuation allowances were recognised for the potential credit risk. €31 million (previous year: €27 million) of nonperforming loans and advances was written off directly and charged to income in the year under review. Recoveries on loans previously written off amounted to €11 million (previous year: €14 million).
Trading assets relate to trading in bonds and other fixed-income securities, equities and other non-fixed-income securities, foreign currencies, as well as derivatives that do not satisfy the IAS 39 criteria for hedge accounting. €4,109 million (previous year: €9,720 million) of the bonds and other fixed-income securities and €161 million (previous year: €28 million) of the equities and other non-fixed-income securities relate to securities listed on a stock exchange.
€65,649 million (previous year: €59,951 million) of the investment securities relates to listed securities. Changes in the fair value of unhedged available-for-sale securities were charged to the revaluation reserve in the amount of €–515 million (previous year: €–125 million). €24 million (previous year: €177 million) reported in the revaluation reserve was reversed to income in the period under review as a result of the disposal of investment securities and the recognition of impairment losses.
Postbank issued letters of pledge to the European Central Bank for securities with a lending value of €23 billion (previous year: €15 billion) for open market operations. Open market operations at the balance sheet date amounted to €15 billion (previous year: €10 billion). The securities deposited as collateral continue to be reported as non-current financial assets.
Impairment losses of €130 million (previous year: €128 million) were recognised in financial year 2007 to reflect developments in the values of financial instruments (see Note 3). Of this amount, €112 million relates to structured credit products and €18 million to write-downs in respect of retail funds.
31.1 Maturity structure
|
|
| |||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
€m |
Payable on demand |
Less than 3 months |
3 months to 1 year |
1 year to |
2 years to |
3 years to |
4 years to |
More than |
Total | |||||||||
|
|
|
|
|
|
|
|
|
|
| |||||||||
|
2007 |
|
|
|
|
|
|
|
|
| |||||||||
|
Loans and advances to other banks |
1,601 |
14,071 |
2,038 |
1,624 |
772 |
679 |
1,846 |
1,950 |
24,581 | |||||||||
|
Loans and advances to customers |
2,931 |
10,413 |
8,586 |
7,177 |
5,852 |
6,627 |
7,085 |
43,028 |
91,699 | |||||||||
|
Trading assets |
1 |
1,002 |
1,568 |
1,691 |
456 |
346 |
301 |
4,571 |
9,936 | |||||||||
|
Hedging derivatives |
1 |
44 |
5 |
18 |
15 |
7 |
23 |
308 |
421 | |||||||||
|
Investment securities |
0 |
2,100 |
4,926 |
7,469 |
6,545 |
5,133 |
7,094 |
35,236 |
68,503 | |||||||||
|
|
4,534 |
27,630 |
17,123 |
17,979 |
13,640 |
12,792 |
16,349 |
85,093 |
195,140 | |||||||||
|
|
|
|
|
|
|
|
|
|
| |||||||||
|
2006 |
|
|
|
|
|
|
|
|
| |||||||||
|
Loans and advances to other banks |
1,906 |
5,470 |
1,733 |
934 |
1,254 |
858 |
846 |
3,349 |
16,350 | |||||||||
|
Loans and advances to customers |
2,193 |
5,719 |
8,340 |
8,429 |
8,976 |
7,129 |
10,050 |
36,288 |
87,124 | |||||||||
|
Trading assets |
0 |
643 |
827 |
6,817 |
1,365 |
568 |
708 |
2,352 |
13,280 | |||||||||
|
Hedging derivatives |
0 |
63 |
15 |
11 |
22 |
31 |
21 |
322 |
485 | |||||||||
|
Investment securities |
46 |
1,845 |
5,714 |
4,484 |
5,127 |
4,594 |
5,540 |
35,846 |
63,196 | |||||||||
|
|
4,145 |
13,740 |
16,629 |
20,675 |
16,744 |
13,180 |
17,165 |
78,157 |
180,435 | |||||||||
31.2 Allowance for losses on loans and advances
|
|
| |||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
€m |
Specific valuation allowances |
Portfolio-based |
Total | |||||||||
|
|
2006 |
2007 |
2006 |
2007 |
2006 |
2007 | ||||||
|
Balance at 1 January |
732 |
1,090 |
44 |
65 |
776 |
1,155 | ||||||
|
Reclassification due to IFRS 7 |
0 |
–30 |
0 |
0 |
0 |
–30 | ||||||
|
Changes in consolidated group |
267 |
0 |
2 |
0 |
269 |
0 | ||||||
|
Additions |
384 |
415 |
19 |
19 |
403 |
434 | ||||||
|
Utilisation |
–161 |
–236 |
0 |
0 |
–161 |
–236 | ||||||
|
Reversal |
–100 |
–130 |
0 |
–1 |
–100 |
–131 | ||||||
|
Unwinding |
–29 |
–34 |
0 |
0 |
–29 |
–34 | ||||||
|
Currency translation differences |
–3 |
–4 |
0 |
0 |
–3 |
–4 | ||||||
|
Balance at 31 December |
1,090 |
1,071 |
65 |
83 |
1,155 |
1,154 | ||||||
31.3 Hedging derivatives
Hedges with positive fair values that qualify for hedge accounting under IAS 39 are composed of the following items:
|
|
| |||
|---|---|---|---|---|
|
€m |
Fair value hedges |
Fair value hedges | ||
|
|
|
| ||
|
Assets |
|
| ||
|
Hedging derivatives on loans to other banks |
|
| ||
|
Loans and receivables |
8 |
11 | ||
|
Hedging derivatives on loans to customers |
|
| ||
|
Loans and receivables |
11 |
13 | ||
|
Hedging derivatives on investment securities |
|
| ||
|
Bonds and other fixed-income securities |
281 |
241 | ||
|
|
300 |
265 | ||
|
|
|
| ||
|
Liabilities |
|
| ||
|
Deposits from other banks |
35 |
17 | ||
|
Amounts due to customers |
41 |
14 | ||
|
Securitised liabilities |
101 |
98 | ||
|
Subordinated debt |
8 |
27 | ||
|
|
185 |
156 | ||
|
Hedging derivatives |
485 |
421 | ||
