Company: ADZCF
Filing Date: 2025-03-13
Form Type: 20-F
Source: 0001159508-25-000020
Chunk: 474

Company: DEUTSCHE BANK AKTIENGESELLSCHAFT
Filing Date: 2025-03-13
Form: 20-F
Chunk 474
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 |    143 |     |   110 |
| Marketing expenses                          |     |    149 |     |    203 |     |   165 |
| Other expenses2                             |     |  2,552 |     |    899 |     |   943 |
| Total general and administrative expenses   |     | 11,243 |     | 10,112 |     | 9,728 |

1 Includes bank levy of € 172million in 2024, € 528million in 2023 and € 762million in 2022

2 Includes litigation related expenses of € 2.0billion in 2024 and € 311million in 2023 and € 413million in 2022; see Note 27 “Provisions”, for more details on litigation

| 234 |

| Deutsche Bank      |
| Annual Report 2024 |

10 – Restructuring

In 2024, Restructuring is primarily driven by the implementation of the Group’s Global Hausbank strategic agenda. The Group has defined and is in the process of implementing efficiency measures that aim to contribute to achieving the bank’s 2025 targets. Restructuring in prior periods relates to measures as part of the previous strategy “Compete to win” which the bank continues to implement.

Restructuring expense is comprised of termination benefits, additional expenses covering the acceleration of deferred compensation awards not yet amortized due to the discontinuation of employment and contract termination costs related to real estate.

In 2024, the Group made significant progress in strategic transformation, with several restructuring programs concluding and the underlying assumptions for the remaining restructuring provisions reviewed resulting in a partial release of provisions of € 149 million. Additionally, the Group initiated new restructuring programs during 2024 requiring provisions of € 138 million and recognized further expense on existing programs of € 8 million. Overall in 2024, the Group recognized a credit of € 3 million in the Consolidated Statement of Income

Net restructuring expense by division

| in € m.                         |     | 2024 |     | 2023 |     | 2022 |
| Corporate Bank                  |     |   -1 |     |   -4 |     |  -19 |
| Investment Bank                 |     |   -0 |     |   -3 |     |   15 |
| Private Bank                    |     |   -3 |     |  228 |     | -113 |
| Asset Management