Company: ADZCF
Filing Date: 2025-03-13
Form Type: 20-F
Source: 0001159508-25-000020
Chunk: 233

Company: DEUTSCHE BANK AKTIENGESELLSCHAFT
Filing Date: 2025-03-13
Form: 20-F
Chunk 233
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 445 |     |           1,729 |     |          613 |     |              278 |     |             1,507 |     |  4,572 |     |          20 |
| Strategic risk                   |     |              0 |     |               0 |     |            0 |     |                0 |     |             1,874 |     |  1,874 |     |           8 |
| Diversification benefit¹         |     |           -460 |     |          -1,197 |     |         -589 |     |             -130 |     |            -1,009 |     | -3,385 |     |         -15 |
| Total EC                         |     |          3,399 |     |           6,936 |     |        3,551 |     |              413 |     |             8,967 |     | 23,265 |     |         100 |
| Total EC in %                    |     |             15 |     |              30 |     |           15 |     |                2 |     |                39 |     |    100 |     |         N/M |

1 Diversification benefit across credit, market, operational and strategic risk As of December 31, 2024, Deutsche Bank’s economic capital demand amounted to € 24.2 billion, which was € 1.0 billion or 4% higher than € 23.3 billion economic capital demand as of December 31, 2023. This was mainly driven by an increase in economic capital demand for credit risk and market risk. The economic capital demand for credit risk totaled to € 12.5 billion as of December 31, 2024, which was € 0.6 billion or 5% higher compared to year-end 2023. The increase was mainly driven by a change in composition of the Corporate Bank loan portfolio.

| 44 |

| Deutsche Bank      |
| Annual Report 2024 |

The economic capital demand for market risk totaled to € 8.7 billion as of December 31, 2024, which was € 0.3 billion or 4% higher compared to year-end 2023. The increase was mainly driven by higher behavioral interest rate risk arising from modelling assumptions in non-maturity deposit portfolios and increase in USD structural foreign exchange exposure, partially offset by a decrease in interest rate risk exposure in