Company: ADZCF
Filing Date: 2025-03-13
Form Type: 20-F
Source: 0001159508-25-000020
Chunk: 345

Company: DEUTSCHE BANK AKTIENGESELLSCHAFT
Filing Date: 2025-03-13
Form: 20-F
Chunk 345
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| Total off-balance sheet                                                             |     |                        320,540 |     |              318,814 |     |                   − |     |     25,863 |     |                           13,915 |     |                   39,777 |
| Maximum exposure to credit risk                                                     |     |                      1,584,717 |     |            1,115,760 |     |             221,466 |     |    421,750 |     |                           58,792 |     |                  702,008 |

1 Does not include credit derivative notional sold € 540.1billion and credit derivative notional bought protection

2 Bought Credit protection is reflected with the notional of the underlying

3 All amounts at gross value before deductions of allowance for credit losses

4 All amounts at amortized cost (gross) except for qualifying hedge derivatives, which are reflected at Fair value through P&L

5 Includes Asset Held for Sale regardless of accounting classification

6 Excludes equities, other equity interests and commodities

7 Figures are reflected at notional amounts

The overall increase in maximum exposure to credit risk for December 31, 2024 was € 106.0 billion, mainly driven by increases of € 39.9 billion in positive market values from derivatives financial instruments, € 26.1 billion in central bank funds sold and securities purchased, € 22.8 billion in securities purchased under resale agreement at fair value through profit or loss, € 22.6 billion in off-balance sheet exposure, € 11.3 billion in trading assets, € 6.5 billion in financial assets at fair value through OCI, and € 5.1 billion in loans at amortized cost. These increases were partly offset by a decrease in cash and central bank balances of € 30.9 billion.

Trading assets as of December 31, 2024, includes traded bonds of € 120.0 billion (€ 112.5 billion as of December 31, 2023) of which over 82 % were investment-grade (over 85 % as of December 31, 2023).

Credit Enhancements are split into three categories: netting, collateral and guarantees/credit derivatives. Haircuts, parameter setting for regular margin calls as well as expert judgments for collateral valuation are employed to prevent market developments from leading to a build-up of uncollateralized exposures. All categories are monitored and reviewed regularly. Overall credit enhancements received are diversified and of