Company: ADZCF
Filing Date: 2025-03-13
Form Type: 20-F
Source: 0001159508-25-000020
Chunk: 194

Company: DEUTSCHE BANK AKTIENGESELLSCHAFT
Filing Date: 2025-03-13
Form: 20-F
Chunk 194
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1 capital ratio was 13.8% at the end of 2024, slightly up from 13.7% at the end of 2023. Organic capital generation offset the combined impacts of dividends, share buybacks and business growth during the year. Capital efficiency measures, which form part of Deutsche Bank’s accelerated execution of its Global Hausbankstrategy, delivered RWA reductions of € 24 billion during 2024, close to the bank’s end-2025 target of € 25 to € 30 billion. Deutsche Bank’s financial and regulatory targets are based on the financial results prepared in accordance with IFRS as issued by the IASB and endorsed by the EU. For further details, please refer to the section ‘Basis of preparation/impact of changes in accounting principles’ in this report. Adjusted costs and Post-tax return on average tangible shareholders’ equity are Non-GAAP financial measures. Please refer to “Supplementary Information (Unaudited): Non-GAAP Financial Measures” of this Annual Report for the definitions of such measures and reconciliations to the IFRS measures on which they are based.

| 8 |

| Deutsche Bank      |
| Annual Report 2024 |

Deutsche Bank Group Deutsche Bank’s Organization Headquartered in Frankfurt am Main, Germany, Deutsche Bank is the largest bank in Germany and one of the largest financial institutions in the world, as measured by total assets of € 1,391 billion as of December 31, 2024. As of that date, the bank had 89,753 full-time equivalent internal employees and operated in 56 countries with 1,307 branches, of which 67% were located in Germany. Deutsche Bank Value Chain Deutsche Bank’s business model considers impacts, risks and opportunities in relation to Environmental, Social and Governance (“ESG”) matters along the bank’s value chain, which includes its upstream value chain, its own operations and its downstream value chain. The bank’s upstream value chain includes capital providers such as the bank’s shareholders, bond holders and depositors, as well as suppliers of goods and services such as providers of banking services, data and technology, consultants and advisors, workforce services and facility management, amongst others. Deutsche Bank’s own operations are driven by the bank’s business divisions and infrastructure functions operating in legal entities and branches across geographic locations, as described below in “Deutsche Bank’s organizational model”. Own operations also include human resources and the employee representation through the worker’s council. Deutsche Bank’s downstream value chain includes retail,