Company: ADZCF
Filing Date: 2025-03-13
Form Type: 20-F
Source: 0001159508-25-000020
Chunk: 209

Company: DEUTSCHE BANK AKTIENGESELLSCHAFT
Filing Date: 2025-03-13
Form: 20-F
Chunk 209
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 was driven mainly by wage growth, an increase in external workforce as well as an increase in severance costs resulting from the accelerated execution of the bank’s Global Hausbankstrategy.

| 20 |

| Deutsche Bank      |
| Annual Report 2024 |

General and administrative expenses 2024 General and administrative expenses increased by € 1.1 billion, or 11%, to € 11.2 billion in 2024 compared to € 10.1 billion in 2023. The increase was driven by an increase in other expenses, mainly due to increased litigation charges related to the Postbank takeover litigation matter and the Polish FX Mortgage matters as well as the reversal of the RusChemAlliance indemnification asset. This was partly offset by a decrease in bank levies of € 355 million in 2024, lower fees for professional services and lower expenses in information technology mainly relating to lower vendor costs and lower IT platform costs. 2023 General and administrative expenses increased by € 384 million, or 4%, to € 10.1 billion in 2023 compared to € 9.7 billion in 2022. The increase was driven by higher expenses in information technology mainly relating to increased vendor and software costs as well as higher operational taxes. This was partly offset by lower litigation expenses which decreased by € 103 million, related to a release of litigation provision and a decrease in bank levies of € 235 million. Impairment of goodwill and other intangible assets 2024 Impairment of goodwill and other intangible assets was € 0 million in 2024 compared to € 233 million in 2023 relating to the impaired goodwill of Numis in the Investment Bank. 2023 Impairment of goodwill and other intangible assets was € 233 million in 2023 relating to the impaired goodwill of Numis in the Investment Bank, compared to € 68 million in 2022 relating to a historic acquisition of an unamortized intangible asset associated with U.S. mutual fund retail contracts in Asset Management. Restructuring 2024 Restructuring activities were a release of € (3) million in 2024 compared to charges of € 220 million in 2023. The development in both periods was primarily driven by Private Bank in the context of the execution of strategic initiatives. 2023 Restructuring activities were charges of € 220 million in 2023 compared to a release of € (118) million in 2022. The charges were