Company: ADZCF
Filing Date: 2025-03-13
Form Type: 20-F
Source: 0001159508-25-000020
Chunk: 219

Company: DEUTSCHE BANK AKTIENGESELLSCHAFT
Filing Date: 2025-03-13
Form: 20-F
Chunk 219
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 credit losses in 2022 benefited from releases following sales of non-performing loans. The development of the overall portfolio continued to reflect the high quality of the loan book, especially in the retail businesses, and ongoing tight risk discipline. Noninterest expenses were € 7.7 billion, up 13% year on year, driven predominantly by the aforementioned € 468 million in nonoperating costs, including restructuring and severance of € 346 million and litigation charges of € 123 million, compared to releases of nonoperating costs of € 147 million in 2022. Adjusted costs, which exclude these items, were up 4%, mainly reflecting investments in Group control functions, strategic initiatives, higher internal cost allocations, Postbank service remediation and inflation impacts. These were partly mitigated by continued savings from transformation programs and reduced regulatory charges.

| 30 |

| Deutsche Bank      |
| Annual Report 2024 |

Asset Management

|                                                                     |     |       |     |       |     |       |     | 2024 increase (decrease)from 2023 |     |          |     | 2023 increase (decrease)from 2022 |     |          |
| in € m.(unless stated otherwise)                                    |     |  2024 |     |  2023 |     |  2022 |     |                           in € m. |     |     in % |     |                           in € m. |     |     in % |
| Net revenues                                                        |     |       |     |       |     |       |     |                                   |     |          |     |                                   |     |          |
| Management fees                                                     |     | 2,479 |     | 2,314 |     | 2,458 |     |                               164 |     |        7 |     |                              -143 |     |       -6 |
| Performance and transaction fees                                    |     |   148 |     |   128 |     |   125 |     |                                20 |     |       16 |     |                                 2 |     |        2 |
| Other                                                               |     |    23 |     |   -59 |     |    24 |     |                                82 |     |      N/M |     |                               -84 |     |      N/M |
| Total net revenues                                                  |     | 2,649 |     | 2,383 |     | 2,608 |     |