Company: ADZCF
Filing Date: 2025-03-13
Form Type: 20-F
Source: 0001159508-25-000020
Chunk: 205

Company: DEUTSCHE BANK AKTIENGESELLSCHAFT
Filing Date: 2025-03-13
Form: 20-F
Chunk 205
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/M – Not meaningful Prior year’s comparatives aligned to presentation in the current year 1 This breakdown reflects net interest income and net gains (losses) on financial assets/liabilities at fair value through profit or loss; for a discussion of the corporate divisions’ total revenues by product please refer to Note 4 “Business Segments and related information” of this report

| 17 |

| Deutsche Bank      |
| Annual Report 2024 |

2024 Total net interest income and net gains (losses) on financial assets/liabilities at fair value through profit or loss amounted to € 20.8 billion in 2024, compared to € 21.7 billion in 2023, reflecting a decrease of € 0.9 billion. This decrease is driven by lower net interest income. The overall decrease was predominantly driven by Corporate & Other, which recorded lower results of € 0.9 billion compared to prior year, primarily due to lower net interest income. In the Private Bank, net interest income and net gains (losses) decreased by € 0.4 billion, mainly due to higher funding costs and hedging activities partially offset by growth in deposits and lending. In the Corporate Bank, net interest income and net gains (losses) decreased by € 0.1 billion primarily due to lower interest income and higher funding costs. These decreases were partially offset by the Investment Bank, which reported an increase of € 0.3 billion primarily driven by higher net interest income partly offset by lower net gains on financial assets/liabilities mainly from a lower mark-to-market from derivatives in FIC Ex-Financing. Net interest income and net gains (losses) in Asset Management increased by € 0.3 billion, reflecting a more favorable valuation adjustment primarily on guaranteed funds with offset in other income. 2023 Total net interest income and net gains (losses) on financial assets/liabilities at fair value through profit or loss were € 21.7 billion in 2023, compared to € 16.9 billion in 2022, an increase of € 4.8 billion. This impact was largely attributable to positive impacts from interest rate hedges as well as an overall increase in net interest income. In the Corporate Bank, total net interest income and net gains (losses) on financial assets/liabilities at fair value through profit or loss increased by € 1.3 billion, primarily due to higher net interest income driven by an improved interest rate environment and continued pricing discipline. Total net interest