Company: ADZCF
Filing Date: 2025-03-13
Form Type: 20-F
Source: 0001159508-25-000020
Chunk: 135

Company: DEUTSCHE BANK AKTIENGESELLSCHAFT
Filing Date: 2025-03-13
Form: 20-F
Chunk 135
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 are included herein, for information required by subpart 1400 of SEC Regulation S-K.

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

Item 4A: Unresolved Staff Comments Deutsche Bank has not received written comments from the Securities and Exchange Commission regarding its periodic reports under the Exchange Act, as of any day 180 days or more before the end of the fiscal year to which this Annual Report relates, which remain unresolved. Item 5: Operating and Financial Review and Prospects Overview The following discussion and analysis should be read in conjunction with the consolidated financial statements and the related notes to them included in “Item 18: Financial Statements” of this document, on which Deutsche Bank has based this discussion and analysis. The Group has prepared its consolidated financial statements in accordance with IFRS as issued by the International Accounting Standards Board. Material accounting policies and critical accounting estimates The Group’s material accounting policies are essential to understanding its reported results of operations and financial condition. Certain of these accounting policies require critical accounting estimates that involve complex and subjective judgments and the use of assumptions, some of which may be for matters that are inherently uncertain and susceptible to change. Such critical accounting estimates could change from period to period and have a material impact on the bank’s financial condition, changes in financial condition or results of operations. Critical accounting estimates could also involve estimates where management could have reasonably used another estimate in the current accounting period. Actual results may differ from these estimates if conditions or underlying circumstances were to change. See Note 1 “Material accounting policies and critical accounting estimates” to the consolidated financial statements for a discussion on the Group’s material accounting policies and critical accounting estimates. Deutsche Bank has identified the following material accounting policies that involve critical accounting estimates: – The impairment of loans and provisions for off-balance sheet positions – The impairment of financial assets at fair value through other comprehensive income – The determination of fair value – The recognition of trade date profit – The impairment of goodwill and other intangibles – The recognition and measurement of deferred tax assets – The accounting for legal and regulatory contingencies and uncertain tax positions Recently adopted accounting pronouncements and new accounting pronouncements See Note 2 “Recently adopted and new accounting pronouncements” to the consolidated financial statements for a discussion on the Group’s recently adopted and new accounting pronouncements.

| 77 |

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

Operating results The following discussion and analysis should be read in conjunction with the bank’s consolidated financial statements