Company: ADZCF
Filing Date: 2025-03-13
Form Type: 20-F
Source: 0001159508-25-000020
Chunk: 464

Company: DEUTSCHE BANK AKTIENGESELLSCHAFT
Filing Date: 2025-03-13
Form: 20-F
Chunk 464
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                                                  |     |  67.7% |     |  60.2% |     |  66.1% |     |                               N/M |     |   7.5ppt |     |                               N/M |     | (5.8)ppt |
| Post-tax return on average shareholders' equity5,6                  |     |  11.7% |     |  16.6% |     |  10.3% |     |                               N/M |     | (4.8)ppt |     |                               N/M |     |   6.2ppt |
| Post-tax return on average tangible shareholders’ equity5,6         |     |  12.6% |     |  17.8% |     |  11.1% |     |                               N/M |     | (5.3)ppt |     |                               N/M |     |   6.8ppt |

N/M – Not meaningful

Prior year’s comparatives aligned to presentation in the current year

1 As of year-end

2 Segment assets are presented on a consolidated basis, i.e., the amounts do not include intersegment balances

3 Starting from the first quarter of 2024, the allocation of operational risk RWA has changed. For more information, please refer to section “Note 4 - Business segments and related information” of this report

4 Noninterest expenses as a percentage of total net revenues, which are defined as net interest income before provision for credit losses plus noninterest income

5 Starting from the first quarter of 2024, the equity allocation framework has been updated. For more information, please refer to section “Note 4 - Business segments and related information” of this report

6 For the post-tax return on average shareholders’ equity and average tangible shareholders’ equity of the segments, the Group effective tax rate was adjusted to exclude the impact of permanent differences not attributed to the segments, so that the segment tax rates were 28% for the years 2024, 2023 and 2022 ; for further information, please refer to “Supplementary Information (Unaudited): Non-GAAP Financial Measures” of this report

| 224 |

| Deutsche Bank      |
| Annual Report 2024 |

Investment Bank

|                                                                     |     |        |     |        |     |        |     | 2024 increase (decrease)from 2023 |     |           |     |