Company: ADZCF
Filing Date: 2025-03-13
Form Type: 20-F
Source: 0001159508-25-000020
Chunk: 208

Company: DEUTSCHE BANK AKTIENGESELLSCHAFT
Filing Date: 2025-03-13
Form: 20-F
Chunk 208
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 Deutsche Bank      |
| Annual Report 2024 |

Net income (loss) from equity method investments 2024 Net income (loss) from equity method investments was € 12 million in 2024 compared to € (38) million in 2023, an increase of € 49 million, mainly related to an upward valuation of the underlying loan assets in Harvest Fund Management Company Limited. 2023 Net income (loss) from equity method investments was € (38) million in 2023 compared to € 152 million in 2022, a decrease of € 190 million, mainly related to the downward valuation of the underlying loan assets in Huarong Rongde Asset Management Company Limited as well as a gain on exit in 2022 which did not repeat in 2023. Other income (loss) 2024 Other income (loss) was € 267 million in 2024 compared to € 387 million in 2023. The decrease was primarily related to the market movements in the hedge portfolio compared to gains in 2023. 2023 Other income (loss) was € 387 million in 2023 compared to € 346 million in 2022. The improvement was primarily related to gains in the hedging portfolios and the non-recurrence from gains on disposal of assets held for sale, including a gain from the sale of the Deutsche Bank Financial Advisors business in Italy, as well as from workout activities related to Sal. Oppenheim recognized in other revenues in 2022. This was partly offset by an unfavorable impact from valuation adjustments on fair value of guarantees in Asset Management, which had a corresponding offset in net gains (losses) on financial assets/ liabilities at fair value through profit and loss. Noninterest expenses

| in € m.                                           |     |        |     |        |     |        |     | 2024 increase (decrease)from 2023 |     |      |     | 2023 increase (decrease)from 2022 |     |      |
| (unless stated otherwise)                         |     |   2024 |     |   2023 |     |   2022 |     |                           in € m. |     | in % |     |                           in € m. |     | in % |
| Compensation and benefits                         |     | 11,731 |     | 11,131 |     | 10,712 |     |                               601 |     |    5 |     |