Company: ADZCF
Filing Date: 2025-03-13
Form Type: 20-F
Source: 0001159508-25-000020
Chunk: 72

Company: DEUTSCHE BANK AKTIENGESELLSCHAFT
Filing Date: 2025-03-13
Form: 20-F
Chunk 72
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 This, combined with the benefits of significant investments into the platform throughout 2023, drove market share gains across the core businesses within O&A (source: Dealogic). The strategic senior hires into existing businesses are now reaching full productivity, hence further revenue share growth is expected in 2025 and beyond. This will be supported by the Client Strategy and Analytics team, which has strengthened client relationships via a re-tiering exercise across the entire client-base, ensuring the capacity to closely monitor performance at the most granular level, as the market develops into 2025. A continued focus on developing the depth of client relationships, while investing across the platform particularly in the U.S., has led to a continuation of the FIC franchise development. The longer-term trend of revenue and market share growth has been extended. A mature and diversified platform is in place to meet the requirements of the client base. This is exemplified by multiple instances of developments across the business, e.g., the launch of HausFX, bringing the FIC suite of workflow solutions together and providing clients with the ability to simplify operational activity associated with FX execution. Investment in technology enables both the provision of enhancements to the client offering and the development of more efficient internal processes, ensuring optimized marginal cost of delivery as revenues grow. In 2025, the strategy of the Investment Bank is focused on its vision of being the leading non-U.S. global investment bank. The segment believes continued benefits from prior investments, along with further areas of targeted investment, will enable an enhanced offering to clients, further deepening relationships. The result will be a more diversified business – which emphasizes capital efficiency and cost discipline, driving shareholder returns. As the O&A franchise evolves, the segment anticipates that a diversification of revenues will see the proportion of strategic advisory revenues as a percentage of total revenues increase. This will be driven in particular by the development of the M&A franchise. The segment expects this, combined with the well-established Debt origination offering, and the expected improvement in Equity Origination to drive further revenue growth. Within FIC, the existing strategy continues – advancing existing and adjacent businesses, the Americas, the depth and breadth of client relationships, and a leading Financing franchise. As with O&A, this is expected to underpin the growth ambition of the business and, combined with a focus upon the efficiency of the operating model, is expected to drive operating leverage. Resources are expected to continue to be allocated to the areas of highest return where a competitive advantage has been identified. Across the Investment Bank, a dedicated