Company: ADZCF
Filing Date: 2025-03-13
Form Type: 20-F
Source: 0001159508-25-000020
Chunk: 365

Company: DEUTSCHE BANK AKTIENGESELLSCHAFT
Filing Date: 2025-03-13
Form: 20-F
Chunk 365
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 centers and municipal social housing, which benefit from strong underlying demand fundamentals. The reduction in the non-recourse CRE portfolio and stress-tested CRE portfolio since December 31, 2023 was € 1.7billion and € 1.9billion, respectively, mainly driven by loan repayments and loan sales partially offset by new loan originations.

| 135 |

| Deutsche Bank      |
| Annual Report 2024 |

The following table provides an overview of the Group’s Real Estate Activities and other industry sectors (NACE classification) contributing to Deutsche Bank’s non-recourse and stress-tested CRE portfolio as of December 31, 2024, and December 31, 2023, respectively.

Overview of CRE portfolio

|                                      |     |           Dec 31, 2024 |     |                              |     |           Dec 31, 2023 |     |                              |
|:-------------------------------------|:----|-----------------------:|:----|-----------------------------:|:----|-----------------------:|:----|-----------------------------:|
| in € m.                              |     | Gross Carrying Amount¹ |     | Allowance for Credit Losses² |     | Gross Carrying Amount¹ |     | Allowance for Credit Losses² |
| Real Estate Activities³              |     |                 49,859 |     |                          664 |     |                 49,267 |     |                          460 |
| thereof: non-recourse                |     |                 23,979 |     |                          547 |     |                 25,073 |     |                          382 |
| thereof: stress-tested portfolio     |     |                 20,361 |     |                          527 |     |                 21,331 |     |                          364 |
| Other industry sectors³ non-recourse |     |                 12,484 |     |                          248 |     |                 13,119 |     |                          225 |
| thereof: stress-tested portfolio     |     |                  8,944 |     |                          126 |     |                  9,879 |     |                          114 |
| Total non-recourse CRE portfolio     |     |                 36,463 |     |                          795 |     |                 38,192 |     |                          606 |
| thereof: stress-tested portfolio     |     |                 29,305 |     |                          653 |     |                 31,210 |     |                          478 |

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