Company: ADZCF
Filing Date: 2025-03-13
Form Type: 20-F
Source: 0001159508-25-000020
Chunk: 353

Company: DEUTSCHE BANK AKTIENGESELLSCHAFT
Filing Date: 2025-03-13
Form: 20-F
Chunk 353
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 hedge accounting

5 Includes stage 3 and stage 3 POCI debt securities at amortized cost amounting to € 39.5million as of December 31, 2023

6 Includes stage 3 and stage 3 POCI debt securities at fair value through OCI amounting to € 1.5million as of December 31, 2023

7 Before reflection of collateral and limited to securities purchased under resale agreements and securities borrowed

8 Includes exposure to Corporates including Holding Companies of € 96billion , Asset-Backed Securities of € 44billion , Banks of € 55billion , Insurance of € 13billion , Financial Intermediaries of € 10billion and Public Sector of € 16billion , all based on internal client classification

9 Non-recourse Commercial Real Estate portfolio based on Deutsche Bank’s definition is € 38billion

| 125 |

| Deutsche Bank      |
| Annual Report 2024 |

All credit exposures are subject to the same credit underwriting requirements stipulated in the bank’s “Principles for Managing Credit Risk”, including various controls according to single name, country, industry and product/asset class-specific concentration. Material transactions, such as loans underwritten with the intention to sell down or distribute part of the risk to third parties, are subject to review and approval by senior credit risk management professionals and (depending upon size) an underwriting committee and/or the Management Board. High emphasis is placed on structuring and pricing such transactions so that de-risking can be achieved in a timely manner and – where Deutsche Bank takes market price risk – to mitigate such market risk. The Group’s credit exposure to the ten largest counterparties accounted for 11% of the bank’s aggregated total credit exposure in these categories as of December 31, 2024, compared with 12% as of December 31, 2023. The top ten counterparty exposures were well-rated counterparties or otherwise related to structured trades which show high levels of risk mitigation. The Group’s amortized cost loan exposure within above categories is mostly with borrowers of good credit quality. Moreover, with the focus on the Corporate Bank and Investment Bank, loan exposure is subject to further risk mitigation through the bank’s e.g. Strategic Corporate Lending unit. Deutsche Bank’s household loan exposure is principally associated with Private Bank portfolios. The bank’s amortized cost loan exposure of € 49.9billion to Real Estate activities as reported above is based on NACE code