Company: ADZCF
Filing Date: 2025-03-13
Form Type: 20-F
Source: 0001159508-25-000020
Chunk: 186

Company: DEUTSCHE BANK AKTIENGESELLSCHAFT
Filing Date: 2025-03-13
Form: 20-F
Chunk 186
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 non-Iranian clients. The gross revenues derived from these payments were approximately € 4,300. The bank does not consider the execution of such transactions to be significant and expects to continue to execute such transactions in the future. Maintaining of Accounts for Iranian Consulates and Embassies.In 2024, Iranian embassies and consulates in Germany held accounts with Deutsche Bank. The purpose of these accounts is the funding of day-to-day operational costs of the embassies and consulates, such as salaries, rent and electricity. In 2024, the total volume of outgoing payments from these accounts was approximately € 4.5 million which have been funded through € 8.8 million of incoming payments. From these activities, the bank derived gross revenues of approximately € 0.17 million and net profits which were less than this amount. The German government has requested that Deutsche Bank provide these services to enable the government of Iran to conduct its diplomatic relations and the bank intends to continue maintenance of such accounts.

| 112 |

| Deutsche Bank                   |
| Annual Report 2024 on Form 20-F |

Activities of Entities in Which Deutsche Bank Has Interests.Section 13(r) requires the Group to provide the specified disclosure with respect to Deutsche Bank and its “affiliates,” as defined in Exchange Act Rule 12b-2. Although the bank has minority equity interests in certain entities that could arguably result in these entities being deemed “affiliates,” it does not have the authority or the legal ability to acquire in every instance the information from these entities that would be necessary to determine whether they are engaged in any disclosable activities under Section 13(r). In some cases, legally independent entities are not permitted to disclose the details of their activities to the bank because of German privacy and data protection laws or the applicable banking laws and regulations. In such cases, voluntary disclosure of such details could violate such legal and/or regulatory requirements and subject the relevant entities to criminal prosecution or regulatory investigations.

| 113 |

| Deutsche Bank                   |
| Annual Report 2024 on Form 20-F |

PART III Item 17: Financial Statements Not applicable. Item 18: Financial Statements The financial statements of this Annual Report on Form 20-F consist of the consolidated financial statements including Notes 1 to 42 thereto, which are set forth as Part 2 of the Annual Report 2024, and, as described in Note 1 “Material accounting policies and critical accounting estimates” thereto under “Basis of accounting