Company: ADZCF
Filing Date: 2025-03-13
Form Type: 20-F
Source: 0001159508-25-000020
Chunk: 415

Company: DEUTSCHE BANK AKTIENGESELLSCHAFT
Filing Date: 2025-03-13
Form: 20-F
Chunk 415
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 carve out version of IAS 39 also removes the prohibition on identifying a benchmark risk component in a financial instrument priced at sub–benchmark. This may arise when financial instruments carry a negative spread such that the identified non–contractually specified risk component is larger than the interest carry on the contract itself. For the financial year ended December 31, 2024, the application of the EU carve-out version of IAS 39 had a negative impact of € 1.4billion on profit before tax and of € 1.0billion on profit after tax. For the financial year ended December 31, 2023, the application of the EU carve-out had a negative impact of € 2.3billion on profit before taxes and of € 1.6billion on profit post taxes. The Group’s regulatory capital and ratios thereof are also reported on the basis of the EU carve-out version of IAS 39. The impact on total equity also impacts the calculation of the CET1 capital ratio. For the financial year ended December 31, 2024, application of the EU carve-out had a negative impact on the CET1 capital ratio of about 68basis points and a negative impact of about 43basis points for the financial year ended December 31, 2023. IFRS 7 disclosures (including climate risk related disclosures)

| 191 |

| Deutsche Bank      |
| Annual Report 2024 |

Disclosures about the nature and the extent of risks arising from financial instruments as required by IFRS 7, “Financial Instruments: Disclosures” are set forth in the Risk Report section of the Combined Management Report and are an integral part of the Consolidated Financial Statements. Disclosures on climate related risk can be found in the section, “Risk and Capital Management”, chapter “Enterprise Risk Management“ (Environmental, Social and Governance Risk) as well as in the section “Risk and Capital Performance”, chapter “Credit Risk Exposure” (Focus Areas 2024) in the Risk Report. The Group is exposed to environmental, social and governance (ESG) risk. The following are examples of how such risk may impact the financial results of the Group: – Increases in the frequency and severity of climate events could impact client ability to service principal and interest payments under instruments subject to IFRS 9. – Failure to comply with environmental and social legislation may impact client ability to generate sustainable returns to service their loans. – If in the future clients do not hold sufficient insurance for physical assets