Company: ADZCF
Filing Date: 2025-03-13
Form Type: 20-F
Source: 0001159508-25-000020
Chunk: 569

Company: DEUTSCHE BANK AKTIENGESELLSCHAFT
Filing Date: 2025-03-13
Form: 20-F
Chunk 569
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     |    232 |
| Subtotal                                         |     |          961 |     |         1,928 |     |        3,422 |     |         3,875 |     |                     861 |     |             731 |     | 11,778 |
| Share (in %)                                     |     |           8% |     |           16% |     |          29% |     |           33% |     |                      7% |     |              6% |     |   100% |
| Other asset categories                           |     |              |     |               |     |              |     |               |     |                         |     |                 |     |  4,740 |
| Fair value of plan assets                        |     |              |     |               |     |              |     |               |     |                         |     |                 |     | 16,518 |

Plan assets include derivative transactions with Group entities with an overall positive market value of around € 810 million at December 31, 2024 and € 930 million December 31, 2023, respectively. There is neither a material amount of securities issued by the Group nor other claims on Group assets included in the fair value of plan assets. The plan assets do not include any real estate which is used by the Group.

| 304 |

| Deutsche Bank      |
| Annual Report 2024 |

Key Risk Sensitivities The Group’s defined benefit obligations are sensitive to changes in capital market conditions and actuarial assumptions. Sensitivities to capital market movements and key assumption changes are presented in the following table. Each market risk factor or assumption is changed in isolation. Sensitivities of the defined benefit obligations are approximated using geometric extrapolation methods based on plan durations for the respective assumption. Duration is a risk measure that indicates the broad sensitivity of the obligations to a change in an underlying assumption and provides a reasonable approximation for small to moderate changes in those assumptions. For example, the interest rate duration is derived from the change in the defined benefit obligation to a change in the interest rate based on information provided by the local actuaries of the respective plans. The resulting duration is used to estimate the remeasurement liability loss or gain from changes in the interest rate. For other assumptions, a similar approach is used to derive the respective sensitivity results. For defined benefit pension plans, changes in capital market conditions will impact the plan obligations via actuarial assumptions (e.g. via the