Company: ADZCF
Filing Date: 2025-03-13
Form Type: 20-F
Source: 0001159508-25-000020
Chunk: 18

Company: DEUTSCHE BANK AKTIENGESELLSCHAFT
Filing Date: 2025-03-13
Form: 20-F
Chunk 18
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 to the risk that they do not result in execution of the final agreement or consummation of the proposed arrangement, putting associated benefits with such agreements at risk. The financial results of the bank could be adversely impacted if anticipated benefits from mergers and acquisitions, joint ventures, strategic partnerships, planned cost savings and other investments do not materialize. Potential business disposals could also result in additional costs to be incurred by the bank. At the same time, any integration process or business disposal will require significant time and resources, and the bank may not be able to manage the process successfully. All of the above could have a material impact on the Group’s CET 1 ratio as well as other target ratios. It is therefore possible that the bank will fall below e.g., the CET 1 ratio objective of no less than 200 basis points above the bank’s MDA threshold, not meet the cost/income ratio target, or the Post-tax Return on Average Tangible Equity target, as highlighted in the section “Item 4: Business Strategy” in this report. In addition to other risks described in the Risk Factors, the following could negatively impact the bank’s strategic goals and ability to achieve its financial targets and capital objectives for 2025: – The base case scenario for Deutsche Bank’s financial and capital plan includes revenue growth estimates which are dependent on macroeconomic developments. Stagnation or a downturn in the macroeconomic environment could significantly impact the bank’s ability to generate the revenue growth necessary to achieve these strategic financial and capital targets. This base case scenario also includes assumptions regarding the bank’s ability to reduce costs in future periods – In addition, the bank’s base case scenario is based on current market implied forward interest rate curves. If interest rates do not evolve as expected, the bank’s revenues may not develop as the bank anticipates – Deutsche Bank’s objectives are also based on assumptions regarding inflation levels. If inflation does not develop as the bank expects, the bank’s businesses may be adversely impacted, and the bank may not meet its cost target – Fluctuations in foreign exchange rates could adversely impact the bank’s financial results, ratios and the bank’s ability to achieve its strategic targets or capital objectives – Reputational risk or negative market perceptions of Deutsche Bank could impact client levels, deposits or asset outflows and adversely affect the bank’s results and ability to meet its 2025 financial targets Adverse market conditions, asset price deteriorations, volatility and cautious investor sentiment have affected and may in the future materially and adversely affect Deutsche Bank’s revenues and profits,