Company: ADZCF
Filing Date: 2025-03-13
Form Type: 20-F
Source: 0001159508-25-000020
Chunk: 191

Company: DEUTSCHE BANK AKTIENGESELLSCHAFT
Filing Date: 2025-03-13
Form: 20-F
Chunk 191
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 on year development reflected both litigation as well as restructuring and severance charges in 2024 and the non-recurrence of € 1.0 billion in Deferred Tax Assets (DTA) valuation adjustments which positively impacted 2023. Provision for credit losses was € 1.8 billion in 2024, up from € 1.5 billion in 2023, or 38 basis points of average loans, in line with the guidance the bank provided after the third quarter of 2024. Deutsche Bank announced plans for € 2.1 billion in further capital distributions to shareholders in 2025: The bank has received supervisory authorization for further share repurchases of € 750 million in 2025 and plans to propose 2024 dividends of € 1.3 billion, or € 0.68 per share, at its Annual General Meeting in May 2025, up 50% from € 0.45 per share for 2023. These measures would increase cumulative capital distributions to shareholders to € 5.4 billion since 2022, in excess of the € 5 billion goal in the bank’s transformation program launched in 2019. The bank reaffirms its ambition to exceed its capital distribution goal of € 8 billion in respect of the financial years 2021-25, to be paid in 2022-26. Profit before tax was € 6.7 billion for the full year 2024, down 16% compared to 2023. Revenues grew by 1% year on year to € 31.5 billion. Noninterest expenses were € 23.0 billion, up 6%, and included € 2.6 billion in nonoperating costs relating to litigation as well as restructuring and severance charges. Adjusted costs, which exclude nonoperating costs, were down 1% to € 20.4 billion. The cost/income ratio was 73%, compared to 70% in 2023. Post-tax return on average shareholders’ equity (RoE) was 5.5%, compared to 9.1% in the prior year. Post-tax return on average tangible shareholders’ equity (RoTE) was 6.2% in 2024, compared to 10.2% in 2023. The year on year development in both ratios reflected both the litigation as well as restructuring and severance charges in 2024 and the non-recurrence of the DTA valuation adjustments which positively impacted