11 Investments in associates

The decline in investments in associates is due solely to the reclassification of the carrying amount of the investment in Deutsche Postbank AG amounting to €1,801 million as held for sale; Note 12.

Investments in associates
€m
  2010 2011
Balance at 1 January 1,772 1,847
Changes in Group’s share of equity    
   Changes recognised in profit or loss 56 58
   Profit distributions –4 0
   Changes recognised in other comprehensive income 93 10
   Impairment losses –69 –63
Elimination of intercompany profits and losses –1 0
Reclassified to current assets 0 –1,801
Carrying amount at 31 December/31 March 1,847 51
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