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2019Q4 - DB - Financial Supplement

Deutsche Bank reported financial results for Q4 2019. Key highlights include: - Net loss of €1.6 billion for Q4 2019 and €5.7 billion for FY 2019. - Revenue of €5.3 billion for Q4 2019, down 4.1% from Q4 2018. - Costs of €6.4 billion for Q4 2019, up 13.4% from Q4 2018. - Common equity tier 1 capital ratio was 13.6% for Q4 2019, unchanged from Q4 2018.

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2019Q4 - DB - Financial Supplement

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Anne

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Deutsche

Deutsche
Deutsche Bank
Bank
Bank

Financial Data Supplement Q4 2019

20 March 2020
Q4 2019 Financial Data Supplement

Due to rounding, numbers presented throughout this document may not Deutsche Bank consolidated
sum precisely to the totals we provide and percentages may not precisely Financial targets and summary 2
reflect the absolute figures.
Consolidated Statement of Income 3
All segment figures reflect the segment composition as of the fourth quarter Consolidated Balance Sheet - Assets 4
2019, subject to potential refinements to the business perimeter consistent
Consolidated Balance Sheet - Liabilities and total equity 5
with our overall strategic transformation.
Net revenues - Segment view 6
On January 1, 2018, IAS 39 was replaced by IFRS 9. As the transition rules
of IFRS 9 do not require a retrospective application to prior periods, the
initial adoption effect is reflected in the opening balance of Shareholders’ Segment detail
equity for the financial year 2018. The comparative period 2017 in this report Corporate Bank 7
is presented in the structure according to IAS 39. Investment Bank 8
As historical 2017 Credit Risk information based on IAS 39 has not been Private Bank 9
restated, the 2017 information is not presented in this document. Asset Management 10
Corporate & Other 11
Core Bank 12
Capital Release Unit 13

Risk and capital

Asset Quality 14
Regulatory capital 15

Leverage ratio measures 16

Non-GAAP financial measures 17

Definition of certain financial measures 26

Footnotes 30

Key Financial Metrics

Statement of Income
Total net revenues, in € bn. 26.4 7.0 6.6 6.2 5.6 25.3 6.4 6.2 5.3 5.3 23.2 (4.1)% 1.6 % (8.5)%
Provision for credit losses, in € bn. 0.5 0.1 0.1 0.1 0.3 0.5 0.1 0.2 0.2 0.2 0.7 (2.1)% 40.6 % 37.9 %
Noninterest expenses, in € bn. 24.7 6.5 5.8 5.6 5.6 23.5 5.9 7.0 5.8 6.4 25.1 13.4 % 10.8 % 6.9 %
Profit (loss) before tax, in € bn. 1.2 0.4 0.7 0.5 (0.3) 1.3 0.3 (0.9) (0.7) (1.3) (2.6) N/M 88.1 % N/M
Profit (loss) attributable to Deutsche Bank shareholders, in € bn. (1.1) 0.0 0.3 0.1 (0.5) (0.1) 0.1 (3.3) (0.9) (1.6) (5.7) N/M 70.0 % N/M
Balance Sheet
4
Total assets, in € bn. 1,475 1,478 1,421 1,380 1,348 1,348 1,437 1,436 1,501 1,298 1,298 (4)% (14)% (4)%
1,4
Net assets (adjusted), in € bn. 1,095 1,088 1,026 1,016 1,010 1,010 1,063 1,022 1,019 946 946 (6)% (7)% (6)%
Loans (gross of allowance for loan losses), in € bn.4 406 392 395 398 405 405 415 419 431 434 434 7% 1% 7%
4
Deposits, in € bn. 582 572 558 553 564 564 575 577 584 572 572 1% (2)% 1%
4
Allowance for loan losses, in € bn. 4 4 4 4 4 4 4 4 4 4 4 (6)% (2)% (6)%
4
Shareholders' equity, in € bn. 63 62 63 63 62 62 63 59 58 56 56 (11)% (4)% (11)%
Resources
4,5
Risk-weighted assets, in € bn. (fully loaded) 344 354 348 342 350 350 347 347 344 324 324 (8)% (6)% (8)%
4
of which Operational risk RWA, in € bn. (fully loaded) 92 93 93 91 92 92 86 84 79 73 73 (21)% (7)% (21)%
6,15
Leverage exposure (fully loaded), in € bn. 1,395 1,409 1,324 1,305 1,273 1,273 1,345 1,304 1,291 1,168 1,168 (8)% (10)% (8)%
Tangible shareholders' equity (Tangible book value), in € bn. 54 54 54 54 54 54 55 52 51 50 50 (8)% (4)% (8)%
Liquidity reserves, in € bn. 280 279 279 268 259 259 260 246 243 222 222 (14)% (8)% (14)%
Employees (full-time equivalent)4 97,535 97,130 95,429 94,717 91,737 91,737 91,463 90,866 89,958 87,597 87,597 (5)% (3)% (5)%
Branches4 2,425 2,407 2,346 2,242 2,064 2,064 2,057 1,994 1,972 1,931 1,931 (6)% (2)% (6)%
Ratios
Post-tax return on average shareholders' equity 1,16 (1.7) % 0.3 % 1.8 % 0.8 % (3.2) % (0.1) % 0.6 % (21.2) % (6.4) % (11.1) % (9.5) % (7.9)ppt (4.7)ppt (9.4)ppt
Provision for credit losses as a % of loans, in bps 13 9 10 9 25 13 13 15 16 23 17 (2)bps 6 bps 4 bps
Loan-to-deposit ratio 69.7 % 68.5 % 70.8 % 72.1 % 71.7 % 71.7 % 72.1 % 72.7 % 73.7 % 75.8 % 75.8 % 4.1 ppt 2.1 ppt 4.1 ppt
Common Equity Tier 1 capital ratio (phase-in)1,4,7 14.8 % 13.4 % 13.7 % 14.0 % 13.6 % 13.6 % 13.7 % 13.4 % 13.4 % 13.6 % 13.6 % 0.1 ppt 0.2 ppt 0.1 ppt
Leverage ratio (phase-in)1 4.1 % 4.0 % 4.2 % 4.2 % 4.3 % 4.3 % 4.1 % 4.2 % 4.2 % 4.3 % 4.3 % (0.0)ppt 0.2 ppt (0.0)ppt
Liquidity coverage ratio 140% 147% 147% 148% 140% 140% 141% 147% 139% 141% 141% 1 ppt 2 ppt 1 ppt
Per Share information
Basic earnings per share8 € (0.53) € 0.06 € 0.03 € 0.10 € (0.20) € (0.01) € 0.08 € (1.66) € (0.41) € (0.72) € (2.71) N/M 76 % N/M
Diluted earnings per share1,8 € (0.53) € 0.06 € 0.03 € 0.10 € (0.20) € (0.01) € 0.08 € (1.66) € (0.41) € (0.72) € (2.71) N/M 76 % N/M
Book value per basic share outstanding 1 € 30.16 € 29.53 € 29.83 € 29.75 € 29.69 € 29.69 € 29.84 € 27.77 € 27.61 € 26.37 € 26.37 (11)% (4)% (11)%
Tangible book value per basic share outstanding 1 € 25.94 € 25.70 € 25.91 € 25.81 € 25.71 € 25.71 € 25.86 € 24.49 € 24.36 € 23.41 € 23.41 (9)% (4)% (9)%

For footnotes please refer to page 30.

_________________________________________________________________________________________________________________________________________
Deutsche Bank Q4 2019 Financial Data Supplement 2
Consolidated Statement of Income
Q4 2019 vs. Q4 2019 vs. FY 2019 vs.
(In € m.) FY 2017 Q1 2018 Q2 2018 Q3 2018 Q4 2018 FY 2018 Q1 2019 Q2 2019 Q3 2019 Q4 2019 FY 2019 Q4 2018 Q3 2019 FY 2018
Interest and similar income 23,542 5,995 6,414 5,991 6,393 24,793 6,502 6,805 6,299 5,543 25,149 (13)% (12)% 1%
Interest expense 11,164 3,044 2,950 2,601 3,006 11,601 3,199 3,174 2,865 2,161 11,400 (28)% (25)% (2)%
Net interest income 12,378 2,951 3,465 3,390 3,387 13,192 3,303 3,630 3,434 3,382 13,749 (0)% (1)% 4%
Provision for credit losses 525 88 95 90 252 525 140 161 175 247 723 (2)% 41 % 38 %
Net interest income after provision for credit losses 11,853 2,863 3,369 3,300 3,135 12,667 3,163 3,469 3,258 3,135 13,026 0% (4)% 3%
Commissions and fee income 11,002 2,652 2,634 2,421 2,332 10,039 2,382 2,484 2,316 2,339 9,520 0% 1% (5)%
Net gains (losses) on financial assets/liabilities at fair value through P&L 2,926 1,149 147 320 (284) 1,332 769 213 (578) (211) 193 (26)% (64)% (85)%
Net gains (losses) on financial assets at fair value through OCI N/A 154 125 58 (20) 317 46 24 167 23 260 N/M (86)% (18)%
Net gains (losses) on financial assets at amortized cost N/A 2 (0) 0 0 2 0 1 (1) 0 0 138 % N/M (78)%
Net gains (losses) on financial assets available for sale 479 N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/M N/M N/M
Net income (loss) from equity method investments 137 102 74 21 22 219 33 45 8 23 110 5% 190 % (50)%
Other income (loss) (475) (34) 146 (36) 138 215 (183) (195) (84) (208) (669) N/M 149 % N/M
Total noninterest income 14,070 4,026 3,126 2,785 2,188 12,124 3,048 2,573 1,829 1,967 9,416 (10)% 8% (22)%
Memo: Net revenues 26,447 6,976 6,590 6,175 5,575 25,316 6,351 6,203 5,262 5,349 23,165 (4)% 2% (8)%
Compensation and benefits 12,253 3,002 3,050 2,859 2,903 11,814 2,866 2,813 2,773 2,691 11,142 (7)% (3)% (6)%
General and administrative expenses 11,973 3,456 2,552 2,642 2,637 11,286 3,070 3,089 2,776 3,317 12,253 26 % 19 % 9%
Impairment of goodwill and other intangible assets 21 0 0 0 0 0 0 1,035 2 (0) 1,037 N/M N/M N/M
Restructuring activities 447 (1) 182 77 102 360 (17) 50 224 387 644 N/M 73 % 79 %
Noninterest expenses 24,695 6,457 5,784 5,578 5,642 23,461 5,919 6,987 5,774 6,395 25,076 13 % 11 % 7%
Profit (loss) before tax 1,228 432 711 506 (319) 1,330 292 (946) (687) (1,293) (2,634) N/M 88 % N/M
Income tax expense (benefit) 1,963 312 310 277 90 989 91 2,204 145 191 2,630 113 % 32 % 166 %
Profit (loss) (735) 120 401 229 (409) 341 201 (3,150) (832) (1,483) (5,265) N/M 78 % N/M
Profit (loss) attributable to noncontrolling interests 15 (0) 40 18 17 75 23 40 27 35 125 110 % 29 % 68 %
Profit (loss) attributable to Deutsche Bank shareholders and additional
(751) 120 361 211 (425) 267 178 (3,190) (859) (1,518) (5,390) N/M 77 % N/M
equity components
Profit (loss) attributable to additional equity components 325 77 80 81 82 319 81 82 83 83 328 2% 0% 3%
Profit (loss) attributable to Deutsche Bank shareholders (1,076) 43 282 130 (507) (52) 97 (3,272) (942) (1,602) (5,718) N/M 70 % N/M

Ratios:1
Net interest margin 1.2% 1.2% 1.4% 1.4% 1.4% 1.3% 1.4% 1.5% 1.4% 1.5% 1.5% 0.1 ppt 0.1 ppt 0.1 ppt
Average yield on loans 3.0% 3.1% 3.4% 3.4% 3.3% 3.3% 3.4% 3.3% 3.3% 3.1% 3.3% (0.2)ppt (0.1)ppt 0.0 ppt
Cost/income ratio 93.4 % 92.6 % 87.8 % 90.3 % 101.2 % 92.7 % 93.2 % 112.6 % 109.7 % 119.6 % 108.2 % 18.4 ppt 9.8 ppt 15.6 ppt
Compensation ratio 46.3 % 43.0 % 46.3 % 46.3 % 52.1 % 46.7 % 45.1 % 45.3 % 52.7 % 50.3 % 48.1 % (1.8)ppt (2.4)ppt 1.4 ppt
Noncompensation ratio 47.0 % 49.5 % 41.5 % 44.0 % 49.1 % 46.0 % 48.1 % 67.3 % 57.0 % 69.2 % 60.1 % 20.1 ppt 12.2 ppt 14.1 ppt

Costs:
Noninterest expenses 24,695 6,457 5,784 5,578 5,642 23,461 5,919 6,987 5,774 6,395 25,076 13 % 11 % 7%
Impairment of goodwill and other intangible assets 21 0 0 0 0 0 0 1,035 2 (0) 1,037 N/M N/M N/M
Litigation charges, net 213 66 (31) 14 39 88 (17) 164 113 213 473 N/M 89 % N/M
Restructuring and severance 570 41 239 103 181 563 6 92 234 473 805 161 % 102 % 43 %
Adjusted costs 23,891 6,350 5,577 5,462 5,422 22,810 5,930 5,696 5,426 5,709 22,761 5% 5% (0)%
Transformation charges1 0 0 0 0 0 0 0 351 186 608 1,145 N/M N/M N/M
Adjusted costs ex. transformation charges23 23,891 6,350 5,577 5,462 5,422 22,810 5,930 5,345 5,240 5,102 21,616 (6)% (3)% (5)%

For footnotes please refer to page 30.

_________________________________________________________________________________________________________________________________________
Deutsche Bank Q4 2019 Financial Data Supplement 3
Consolidated Balance Sheet - Assets
Dec 31, 2019 vs.
(In € m., unless stated otherwise) Dec 31, 2017 Mar 31, 2018 Jun 30, 2018 Sep 30, 2018 Dec 31, 2018 Mar 31, 2019 Jun 30, 2019 Sep 30, 2019 Dec 31, 2019 Dec 31, 2018
Assets:
Cash and central bank balances 225,655 226,720 208,086 201,190 188,731 187,314 160,982 167,843 137,592 (27)%
Interbank balances without central banks 9,265 11,160 10,872 9,132 8,881 11,428 10,144 10,223 9,636 8%
Central bank funds sold and securities purchased under resale agreements 9,971 10,082 7,725 8,671 8,222 9,831 9,126 9,546 13,801 68 %
Securities borrowed 16,732 1,738 916 2,015 3,396 4,792 647 384 428 (87)%
Total financial assets at fair value through profit or loss 636,970 631,118 602,270 576,409 573,344 604,382 630,020 669,141 530,713 (7)%
Financial assets at fair value through OCI N/A 53,151 48,812 49,660 51,182 53,879 49,959 44,970 45,503 (11)%
Financial assets available for sale 49,397 N/A N/A N/A N/A N/A N/A N/A N/A N/M
Equity method investments 866 898 851 849 879 921 919 913 929 6%
Loans at amortized cost 401,699 387,366 390,965 394,114 400,297 410,564 414,889 426,539 429,841 7%
Securities held to maturity 3,170 N/A N/A N/A N/A N/A N/A N/A N/A N/M
Property and equipment 2,663 2,453 2,540 2,506 2,421 5,439 5,334 5,141 4,930 104 %
Goodwill and other intangible assets 8,839 8,751 8,982 9,056 9,141 9,183 7,708 7,650 7,029 (23)%
Other assets 101,491 136,156 130,663 118,361 93,444 130,884 138,676 151,523 110,359 18 %
Assets for current tax 1,215 1,514 1,227 909 970 1,147 2,139 1,014 926 (5)%
Deferred tax assets 6,799 6,628 7,050 7,110 7,230 7,413 5,553 6,036 5,986 (17)%
Total assets 1,474,732 1,477,735 1,420,960 1,379,982 1,348,137 1,437,179 1,436,096 1,500,922 1,297,674 (4)%

_________________________________________________________________________________________________________________________________________
Deutsche Bank Q4 2019 Financial Data Supplement 4
Consolidated Balance Sheet - Liabilities and total equity
Dec 31, 2019 vs.
(In € m., unless stated otherwise) Dec 31, 2017 Mar 31, 2018 Jun 30, 2018 Sep 30, 2018 Dec 31, 2018 Mar 31, 2019 Jun 30, 2019 Sep 30, 2019 Dec 31, 2019 Dec 31, 2018
Liabilities and equity:
Non-interest bearing deposits 226,339 226,160 221,079 220,330 221,746 221,922 224,038 231,531 228,731 3%
Interest-bearing deposits 355,534 345,747 337,407 332,414 342,659 353,186 352,468 352,877 343,477 0%
Deposits 581,873 571,907 558,486 552,745 564,405 575,108 576,506 584,409 572,208 1%
Central bank funds purchased and securities sold under repurchase agreements 18,105 18,374 14,310 5,443 4,867 5,662 7,532 3,439 3,115 (36)%
Securities loaned 6,688 7,695 6,486 4,499 3,359 2,887 2,992 1,712 259 (92)%
Financial liabilities at fair value through profit or loss 478,636 455,886 434,567 425,262 415,680 454,796 457,816 528,407 404,448 (3)%
Other short-term borrowings 18,411 17,476 17,693 17,281 14,158 13,024 12,418 12,762 5,218 (63)%
Other liabilities 132,208 167,234 155,095 145,795 117,513 154,940 157,946 153,480 107,964 (8)%
Provisions 4,158 4,428 3,349 3,041 2,711 2,959 2,511 2,483 2,622 (3)%
Liabilities for current tax 1,001 1,105 922 890 944 889 1,818 695 651 (31)%
Deferred tax liabilities 346 323 494 513 512 517 678 711 545 6%
Long-term debt 159,715 161,480 157,553 152,578 152,083 153,942 147,629 144,811 136,473 (10)%
Senior debt 151,616 153,701 150,194 145,518 144,939 146,709 140,321 137,358 129,206 (11)%
Subordinated debt 8,100 7,779 7,358 7,061 7,144 7,233 7,307 7,453 7,267 2%
Trust preferred securities 5,491 3,802 3,143 3,148 3,168 3,261 3,269 3,392 2,013 (36)%
Total liabilities 1,406,633 1,409,710 1,352,099 1,311,194 1,279,400 1,367,985 1,371,114 1,436,301 1,235,515 (3)%

Total shareholders' equity 63,174 61,943 62,656 62,577 62,495 62,914 58,742 58,354 55,857 (11)%
Additional equity components10 4,675 4,673 4,675 4,675 4,675 4,675 4,675 4,668 4,665 (0)%
Noncontrolling interests 250 1,410 1,529 1,535 1,568 1,605 1,565 1,599 1,638 4%
Total equity 68,099 68,025 68,861 68,788 68,737 69,194 64,982 64,620 62,160 (10)%
Total liabilities and equity 1,474,732 1,477,735 1,420,960 1,379,982 1,348,137 1,437,179 1,436,096 1,500,922 1,297,674 (4)%

For footnotes please refer to page 30.

Investment Bank:
Fixed Income, Currency (FIC) Sales & Trading 6,679 1,859 1,469 1,409 909 5,646 1,646 1,472 1,229 1,188 5,534 31 % (3)% (2)%
Origination & Advisory 2,061 460 530 406 388 1,784 416 362 488 340 1,606 (12)% (30)% (10)%
Other (438) 25 39 (74) 48 37 (79) (21) (71) (8) (179) N/M (88)% N/M
Total Investment Bank 8,303 2,344 2,038 1,741 1,344 7,467 1,983 1,813 1,646 1,520 6,961 13 % (8)% (7)%

Private Bank:
Private Bank Germany 5,253 1,505 1,318 1,335 1,295 5,453 1,343 1,296 1,267 1,209 5,116 (7)% (5)% (6)%
Private & Commercial Business International12 1,457 374 376 341 349 1,441 359 366 358 358 1,442 3% (0)% 0%
Wealth Management 2,022 426 471 418 433 1,748 427 429 411 419 1,687 (3)% 2% (3)%
Total Private Bank 8,732 2,305 2,164 2,094 2,077 8,641 2,129 2,092 2,037 1,986 8,245 (4)% (3)% (5)%
of which:
Net interest income 5,120 1,298 1,301 1,285 1,334 5,217 1,317 1,290 1,266 1,260 5,133 (6)% (1)% (2)%
Commission and fee income 2,994 776 722 700 628 2,826 748 705 724 748 2,925 19 % 3% 4%
Remaining income 617 232 141 109 115 598 65 97 47 (21) 187 N/M N/M (69)%

Asset Management:
Management Fees 2,247 531 530 532 521 2,115 509 539 540 552 2,141 6% 2% 1%
Performance & Transaction Fees 199 18 29 20 23 91 11 66 21 104 201 N/M N/M 122 %
Other 86 (4) 1 14 (30) (19) 5 (11) (18) 15 (10) N/M N/M (48)%
Total Asset Management 2,532 545 561 567 514 2,187 525 594 543 671 2,332 31 % 24 % 7%

Corporate & Other (539) (64) (102) 54 (8) (120) (17) 188 (76) 59 155 N/M N/M N/M
1
Core Bank 24,403 6,396 6,047 5,716 5,280 23,438 5,964 5,982 5,484 5,528 22,957 5% 1% (2)%

Capital Release Unit 2,044 581 544 459 294 1,878 387 221 (222) (179) 208 N/M (19)% (89)%

Net revenues 26,447 6,976 6,590 6,175 5,575 25,316 6,351 6,203 5,262 5,349 23,165 (4)% 2% (8)%

For footnotes please refer to page 30.

Balance Sheet and Resources

Employees (front office full-time equivalent)4 7,649 7,445 7,387 7,357 7,353 7,353 7,440 7,499 7,516 7,428 7,428 1% (1)% 1%
Total employees (full-time equivalent)4,13 15,294 14,349 14,144 14,039 13,804 13,804 13,863 13,889 13,851 13,577 13,577 (2)% (2)% (2)%
Assets4,14 248,335 229,091 237,581 250,581 215,177 215,177 239,934 231,063 234,312 227,703 227,703 6% (3)% 6%
Risk-weighted assets (fully loaded)4,5 57,760 57,865 59,314 58,068 58,162 58,162 59,760 60,184 56,987 56,522 56,522 (3)% (1)% (3)%
of which Operational risk RWA (fully loaded)4 9,396 9,687 9,667 9,301 9,632 9,632 9,224 9,555 7,727 7,312 7,312 (24)% (5)% (24)%
Leverage exposure (fully loaded)6,15 275,580 261,547 274,636 282,745 247,137 247,137 266,359 260,625 263,535 262,505 262,505 6% (0)% 6%
Deposits4 254,724 254,513 243,369 244,188 250,771 250,771 255,942 254,476 264,662 259,991 259,991 4% (2)% 4%
Loans (gross of allowance for loan losses)4 112,379 108,245 108,727 111,524 112,949 112,949 115,293 117,510 118,897 118,311 118,311 5% (0)% 5%
Allowance for loan losses4 983 813 859 834 939 939 946 925 950 989 989 5% 4% 5%

Performance measures and Ratios1

Net interest margin N/M 1.9% 1.9% 2.0% 2.1% 2.0% 2.1% 2.1% 2.2% 2.0% 2.1% (0.1)ppt (0.2)ppt 0.1 ppt
Provision for credit losses as a % of loans, in bps 4 6 6 9 31 13 15 21 26 35 24 4 bps 10 bps 11 bps
Cost/income ratio 72.1 % 83.3 % 68.1 % 72.2 % 69.4 % 73.1 % 75.2 % 116.8 % 76.8 % 100.2 % 92.0 % 30.8 ppt 23.3 ppt 18.9 ppt
Post-tax return on average shareholders' equity 16 9.1 % 5.1 % 12.1 % 8.9 % 8.7 % 8.6 % 7.9 % (8.9) % 7.1 % (4.1) % 0.5 % (12.9)ppt (11.2)ppt (8.2)ppt
Post-tax return on average tangible shareholders' equity 2,16 10.1 % 5.6 % 13.3 % 9.7 % 9.3 % 9.4 % 8.5 % (9.4) % 7.2 % (4.2) % 0.5 % (13.5)ppt (11.4)ppt (8.9)ppt

Costs
Noninterest expenses 3,876 1,053 944 910 940 3,846 1,010 1,512 1,026 1,294 4,842 38 % 26 % 26 %
Impairment of goodwill and other intangible assets9 6 0 0 0 0 0 0 491 2 (0) 492 N/M N/M N/M
Litigation charges, net (142) (0) (6) 13 27 34 (0) (12) 0 8 (4) (71)% N/M N/M
Restructuring and severance 31 (0) 23 8 14 44 2 18 7 123 150 N/M N/M N/M
Adjusted costs 3,981 1,053 927 889 899 3,767 1,008 1,016 1,017 1,163 4,204 29 % 14 % 12 %
Transformation charges1 0 0 0 0 0 0 0 0 6 154 160 N/M N/M N/M
Adjusted costs ex. transformation charges 3,981 1,053 927 889 899 3,767 1,008 1,016 1,011 1,009 4,044 12 % (0)% 7%

For footnotes please refer to page 30.

Balance Sheet and Resources

Employees (front office full-time equivalent)4 10,674 10,522 9,987 10,070 9,960 9,960 10,249 10,297 10,277 10,095 10,095 1% (2)% 1%
Total employees (full-time equivalent)4,13 21,957 21,831 21,059 20,995 20,505 20,505 20,050 20,048 20,192 19,656 19,656 (4)% (3)% (4)%
Assets4,14 471,539 487,384 460,405 463,362 458,191 458,191 503,778 520,564 584,905 502,821 502,821 10 % (14)% 10 %
Risk-weighted assets (fully loaded)4,5 120,316 125,522 118,924 116,325 124,410 124,410 120,544 120,069 124,567 118,622 118,622 (5)% (5)% (5)%
of which Operational risk RWA (fully loaded)4 32,737 33,666 32,015 32,320 32,141 32,141 30,643 28,139 27,531 26,525 26,525 (17)% (4)% (17)%
Leverage exposure (fully loaded)6,15 426,311 456,827 405,382 413,635 419,313 419,313 467,250 459,472 493,562 439,354 439,354 5% (11)% 5%

1
Performance measures and Ratios
Provision for credit losses as a % of loans, in bps 9.7 29.1 (11.2) 0.5 27.4 10.8 4.2 25.1 11.0 20.1 14.5 (7)bps 9 bps 4 bps
Cost/income ratio 81.0 % 79.0 % 81.8 % 87.0 % 110.4 % 87.3 % 87.1 % 84.6 % 96.3 % 102.2 % 91.9 % (8.3)ppt 5.8 ppt 4.7 ppt
Post-tax return on average shareholders' equity 16 3.9 % 5.2 % 4.0 % 2.2 % (2.8) % 2.1 % 2.5 % 2.1 % (0.1) % (1.5) % 0.8 % 1.3 ppt (1.4)ppt (1.4)ppt
Post-tax return on average tangible shareholders' equity 2,16 4.1 % 5.6 % 4.4 % 2.5 % (3.1) % 2.3 % 2.8 % 2.3 % (0.1) % (1.6) % 0.8 % 1.5 ppt (1.5)ppt (1.5)ppt

Costs
Noninterest expenses 6,727 1,852 1,667 1,514 1,484 6,517 1,728 1,534 1,585 1,553 6,401 5% (2)% (2)%
Impairment of goodwill and other intangible assets 0 0 0 0 0 0 0 0 0 0 0 N/M N/M N/M
Litigation charges, net 169 53 16 13 14 96 (3) 135 12 (9) 135 N/M N/M 41 %
Restructuring and severance 91 18 126 51 39 233 18 26 77 98 219 151 % 27 % (6)%
Adjusted costs 6,467 1,781 1,525 1,450 1,432 6,188 1,713 1,374 1,496 1,464 6,047 2% (2)% (2)%
Transformation charges1 0 0 0 0 0 0 0 0 77 137 214 N/M 77 % N/M
Adjusted costs ex. transformation charges 6,467 1,781 1,525 1,450 1,432 6,188 1,713 1,374 1,419 1,328 5,833 (7)% (6)% (6)%

For footnotes please refer to page 30.

Balance Sheet and Resources

Employees (front office full-time equivalent)4 39,272 39,096 38,997 38,794 38,415 38,415 38,140 37,983 38,100 37,266 37,266 (3)% (2)% (3)%
Total employees (full-time equivalent)4,13 45,050 45,056 44,830 44,562 43,983 43,983 44,277 44,089 44,140 43,123 43,123 (2)% (2)% (2)%
Assets4,14 278,014 276,417 281,363 283,353 288,513 288,513 291,969 289,981 287,197 282,773 282,773 (2)% (2)% (2)%
Risk-weighted assets (fully loaded)4,5 70,138 70,382 68,691 68,728 69,308 69,308 71,694 74,148 77,290 75,442 75,442 9% (2)% 9%
of which Operational risk RWA (fully loaded)4 10,564 10,063 9,795 9,469 9,460 9,460 8,839 8,811 9,079 8,325 8,325 (12)% (8)% (12)%
Leverage exposure (fully loaded)6,15 289,314 287,805 290,614 293,515 299,577 299,577 303,233 304,184 302,158 292,028 292,028 (3)% (3)% (3)%
Deposits4 274,763 273,787 276,631 276,260 280,511 280,511 286,828 292,341 290,946 289,225 289,225 3% (1)% 3%
Loans (gross of allowance for loan losses)4 215,395 214,455 216,847 218,865 221,070 221,070 223,909 223,200 226,703 229,746 229,746 4% 1% 4%
Allowance for loan losses4 1,925 2,675 2,718 2,648 2,710 2,710 2,711 2,540 2,547 2,505 2,505 (8)% (2)% (8)%
4,17
Assets under management, in € bn. 480 472 478 475 451 451 478 483 487 487 487 8% 0% 8%
Net flows, in € bn. 3 2 1 (3) (2) (2) 6 4 (1) (6) 4 194 % N/M N/M

Performance measures and Ratios1

Net interest margin N/M 2.1% 2.1% 2.1% 2.2% 2.1% 2.1% 2.0% 2.0% 2.0% 2.0% (0.1)ppt 0.0 ppt (0.1)ppt
Provision for credit losses as a % of loans, in bps 15 13 18 12 21 16 19 11 9 21 15 0 bps 11 bps (1)bps
Cost/income ratio 93.3 % 81.2 % 86.7 % 90.3 % 94.0 % 87.9 % 84.8 % 111.8 % 91.9 % 108.3 % 99.1 % 14.2 ppt 16.4 ppt 11.2 ppt
Post-tax return on average shareholders' equity 16 1.0 % 8.1 % 4.1 % 2.7 % (0.3) % 3.6 % 4.5 % (7.7) % 2.1 % (7.4) % (2.1) % (7.1)ppt (9.5)ppt (5.7)ppt
Post-tax return on average tangible shareholders' equity 2,16 1.3 % 9.8 % 4.9 % 3.3 % (0.3) % 4.4 % 5.4 % (9.2) % 2.5 % (8.4) % (2.4) % (8.1)ppt (10.9)ppt (6.8)ppt

Costs
Noninterest expenses 8,143 1,872 1,877 1,891 1,954 7,593 1,807 2,339 1,872 2,150 8,168 10 % 15 % 8%
Impairment of goodwill and other intangible assets 12 0 0 0 0 0 0 545 0 (0) 545 N/M N/M N/M
Litigation charges, net 52 (21) (50) (4) (4) (79) (22) (14) (2) 18 (20) N/M N/M (74)%
Restructuring and severance 395 9 21 9 73 112 (18) (7) 9 174 158 139 % N/M 41 %
Adjusted costs 7,684 1,883 1,906 1,887 1,884 7,560 1,848 1,815 1,865 1,958 7,486 4% 5% (1)%
Transformation charges1 0 0 0 0 0 0 0 12 5 174 191 N/M N/M N/M
Adjusted costs ex. transformation charges 7,684 1,883 1,906 1,887 1,884 7,560 1,848 1,803 1,860 1,784 7,295 (5)% (4)% (4)%

For footnotes please refer to page 30.

Balance Sheet and Resources

Employees (front office full-time equivalent)4 4,002 4,038 4,008 4,014 4,013 4,013 4,039 3,998 3,994 3,924 3,924 (2)% (2)% (2)%
Total employees (full-time equivalent)4,13 5,026 5,030 4,941 4,901 4,868 4,868 4,569 4,508 4,585 4,540 4,540 (7)% (1)% (7)%
Assets4,14 8,050 9,534 9,937 9,288 10,030 10,030 9,959 9,708 9,969 9,936 9,936 (1)% (0)% (1)%
Risk-weighted assets (fully loaded)4,5 8,432 8,914 9,498 9,518 10,365 10,365 10,305 10,377 10,493 9,527 9,527 (8)% (9)% (8)%
of which Operational risk RWA (fully loaded)4 5,020 4,761 4,975 4,976 5,017 5,017 4,968 5,150 4,854 4,570 4,570 (9)% (6)% (9)%
Leverage exposure (fully loaded)6,15 2,870 4,289 4,767 4,661 5,044 5,044 4,878 4,557 4,937 4,643 4,643 (8)% (6)% (8)%
Management fee margin (in bps)18 32 31 31 30 30 31 30 30 29 29 30 (1)bps (0)bps (1)bps
4,17
Assets under management, in € bn. 702 678 692 694 664 664 706 721 754 768 768 16 % 2% 16 %
Net flows, in € bn. 16 (8) (5) (3) (7) (23) 2 4 6 12 25 N/M 97 % N/M

1
Performance measures and Ratios
Cost/income ratio 71.1 % 86.7 % 78.7 % 69.3 % 83.2 % 79.3 % 75.7 % 79.4 % 74.4 % 65.3 % 73.4 % (17.9)ppt (9.1)ppt (6.0)ppt
Post-tax return on average shareholders' equity 16 10.8 % 4.4 % 5.6 % 8.5 % 3.4 % 5.5 % 5.6 % 5.1 % 6.0 % 10.2 % 6.7 % 6.9 ppt 4.2 ppt 1.2 ppt
Post-tax return on average tangible shareholders' equity 2,16 58.9 % 22.8 % 17.1 % 23.0 % 9.2 % 17.4 % 14.9 % 13.7 % 16.2 % 27.5 % 18.1 % 18.4 ppt 11.4 ppt 0.7 ppt

Costs
Noninterest expenses 1,799 473 441 393 427 1,735 398 471 404 438 1,711 3% 8% (1)%
Impairment of goodwill and other intangible assets 3 0 0 0 0 0 0 0 0 0 0 N/M N/M N/M
Litigation charges, net 5 27 16 (25) 16 33 (1) 2 (0) (6) (5) N/M N/M N/M
Restructuring and severance 18 4 9 4 27 45 4 28 6 3 41 (88)% (48)% (8)%
Adjusted costs 1,774 442 416 414 384 1,657 395 442 398 441 1,675 15 % 11 % 1%
Transformation charges1 0 0 0 0 0 0 0 0 9 21 30 N/M 139 % N/M
Adjusted costs ex. transformation charges 1,774 442 416 414 384 1,657 395 442 389 419 1,644 9% 8% (1)%

For footnotes please refer to page 30.

Balance Sheet and Resources

Employees (full-time equivalent)4 31,590 31,610 30,932 30,523 29,463 29,463 29,110 28,942 28,596 27,679 27,679 (6)% (3)% (6)%
Risk-weighted assets (fully loaded)4,5 15,322 14,522 15,722 15,690 16,045 16,045 18,477 17,320 18,627 18,029 18,029 12 % (3)% 12 %
Leverage exposure (fully loaded)6,15 16,378 12,189 7,617 3,477 20,746 20,746 21,521 25,639 49,553 42,605 42,605 105 % (14)% 105 %

Costs
Noninterest expenses 582 111 76 106 129 421 31 135 121 269 556 108 % 121 % 32 %
Impairment of goodwill and other intangible assets 0 0 0 0 0 0 0 0 0 0 0 N/M N/M N/M
Litigation charges, net 112 2 44 4 1 51 3 18 78 138 238 N/M 77 % N/M
Restructuring and severance 2 0 36 3 21 60 (3) 18 37 29 82 39 % (22)% 37 %
Adjusted costs 468 108 (4) 99 108 311 30 99 7 102 237 (6)% N/M (24)%
Transformation charges1 0 0 0 0 0 0 0 0 2 37 39 N/M N/M N/M
Adjusted costs ex. transformation charges 468 108 (4) 99 108 311 30 99 5 64 198 (40)% N/M (36)%

For footnotes please refer to page 30.

Q4 2019 vs. Q4 2019 vs. FY 2019 vs.

(In € m., unless stated otherwise) FY 2017 Q1 2018 Q2 2018 Q3 2018 Q4 2018 FY 2018 Q1 2019 Q2 2019 Q3 2019 Q4 2019 FY 2019 Q4 2018 Q3 2019 FY 2018
Total net revenues 24,403 6,396 6,047 5,716 5,280 23,438 5,964 5,982 5,484 5,528 22,957 5% 1% (2)%
Provision for credit losses 416 131 96 91 243 561 158 170 149 260 738 7% 75 % 31 %
Compensation and benefits 11,496 2,808 2,868 2,731 2,772 11,180 2,714 2,701 2,652 2,631 10,699 (5)% (1)% (4)%
General and administrative expenses 9,186 2,560 1,978 2,029 2,067 8,634 2,277 2,214 2,225 2,725 9,441 32 % 23 % 9%
Impairment of goodwill and other intangible assets 21 0 0 0 0 0 0 1,036 2 (0) 1,037 N/M N/M N/M
Restructuring activities 425 (8) 158 54 94 299 (18) 42 130 347 501 N/M 167 % 68 %
Noninterest expenses 21,128 5,360 5,005 4,813 4,934 20,112 4,973 5,992 5,008 5,704 21,678 16 % 14 % 8%
Noncontrolling interests (0) (0) (0) (0) (0) (1) (0) (0) (1) 0 (1) N/M N/M 136 %
Profit (loss) before tax 2,860 905 946 811 103 2,765 832 (180) 328 (437) 543 N/M N/M (80)%

Balance Sheet and Resources

Employees (front office full-time equivalent)4 93,187 92,711 91,310 90,758 89,203 89,203 88,977 88,719 88,483 86,392 86,392 (3)% (2)% (3)%
Assets4,14 1,012,520 1,006,939 985,866 997,826 977,774 977,774 1,055,874 1,056,487 1,141,811 1,038,450 1,038,450 6% (9)% 6%
Risk-weighted assets (fully loaded)4,5 271,969 277,205 272,149 268,329 278,289 278,289 280,779 282,098 287,963 278,141 278,141 (0)% (3)% (0)%
of which Operational risk RWA (fully loaded)4 57,718 58,178 56,452 56,067 56,250 56,250 53,674 51,655 49,191 46,731 46,731 (17)% (5)% (17)%
Leverage exposure (fully loaded)6,15 1,010,452 1,022,657 983,016 998,034 991,817 991,817 1,063,242 1,054,477 1,113,745 1,041,135 1,041,135 5% (7)% 5%
Deposits4 575,737 565,448 553,822 551,700 562,700 562,700 575,080 575,591 583,332 571,209 571,209 2% (2)% 2%
Loans (gross of allowance for loan losses)4 380,649 379,763 384,102 392,042 399,239 399,239 409,713 414,148 426,409 430,279 430,279 8% 1% 8%
Allowance for loan losses4 3,163 3,707 3,769 3,681 3,853 3,853 3,880 3,710 3,753 3,763 3,763 (2)% 0% (2)%

Performance measures and Ratios1

Net interest margin N/M 1.4% 1.5% 1.5% 1.6% 1.5% 1.6% 1.6% 1.6% 1.5% 1.6% (0.1)ppt (0.1)ppt 0.1 ppt
Cost/income ratio 86.6 % 83.8 % 82.8 % 84.2 % 93.4 % 85.8 % 83.4 % 100.2 % 91.3 % 103.2 % 94.4 % 9.8 ppt 11.9 ppt 8.6 ppt
Post-tax return on average shareholders' equity 16 0.2 % 3.3 % 3.8 % 2.9 % (1.5) % 2.1 % 4.0 % (21.3) % (1.6) % (7.9) % (6.7) % (6.5)ppt (6.3)ppt (8.8)ppt
Post-tax return on average tangible shareholders' equity 2,16 0.2 % 3.9 % 4.5 % 3.5 % (1.7) % 2.5 % 4.7 % (25.2) % (1.9) % (9.1) % (7.9) % (7.4)ppt (7.3)ppt (10.4)ppt

Costs
Noninterest expenses 21,128 5,360 5,005 4,813 4,934 20,112 4,973 5,992 5,008 5,704 21,678 16 % 14 % 8%
Impairment of goodwill and other intangible assets 21 0 0 0 0 0 0 1,036 2 (0) 1,037 N/M N/M N/M
Litigation charges, net 195 61 20 1 54 135 (23) 129 89 149 344 177 % 68 % 155 %
Restructuring and severance 537 31 215 75 173 494 3 83 136 427 649 146 % N/M 31 %
Adjusted costs 20,374 5,268 4,770 4,738 4,707 19,483 4,993 4,745 4,782 5,128 19,648 9% 7% 1%
Transformation charges1 0 0 0 0 0 0 0 12 98 524 635 N/M N/M N/M
Adjusted costs ex. transformation charges 20,374 5,268 4,770 4,738 4,707 19,483 4,993 4,733 4,683 4,604 19,014 (2)% (2)% (2)%

For footnotes please refer to page 30.

Balance Sheet and Resources

Employees (front office full-time equivalent)4 4,348 4,419 4,118 3,959 2,534 2,534 2,486 2,147 1,475 1,205 1,205 (52)% (18)% (52)%
Total employees (full-time equivalent)4,13 9,435 10,050 9,627 9,431 7,817 7,817 7,937 7,570 6,415 5,935 5,935 (24)% (7)% (24)%
Assets4,14 462,212 470,796 435,094 382,157 370,363 370,363 381,305 379,609 359,111 259,224 259,224 (30)% (28)% (30)%
Risk-weighted assets (fully loaded)4,5 72,243 77,030 76,170 73,396 72,144 72,144 66,696 64,780 56,016 45,874 45,874 (36)% (18)% (36)%
of which Operational risk RWA (fully loaded)4 33,893 34,847 37,037 34,778 35,739 35,739 31,959 32,540 29,349 25,931 25,931 (27)% (12)% (27)%
Leverage exposure (fully loaded)6,15 384,435 386,578 341,147 307,375 281,109 281,109 282,090 249,685 177,140 126,905 126,905 (55)% (28)% (55)%

1
Performance measures and Ratios
Cost/income ratio 174.5 % 188.8 % 143.3 % 166.7 % N/M 178.3 % N/M N/M N/M N/M N/M N/M N/M N/M
Post-tax return on average shareholders' equity 16 (8.3) % (10.6) % (5.9) % (7.8) % (10.9) % (8.8) % (13.9) % (20.7) % (31.0) % (30.0) % (23.1) % (19.0)ppt 1.0 ppt (14.3)ppt
Post-tax return on average tangible shareholders' equity 2,16 (8.7) % (11.0) % (6.0) % (7.9) % (11.1) % (9.0) % (14.1) % (20.8) % (31.1) % (30.5) % (23.4) % (19.4)ppt 0.7 ppt (14.4)ppt

Costs
Noninterest expenses 3,567 1,097 779 765 708 3,349 946 995 766 691 3,397 (2)% (10)% 1%
Impairment of goodwill and other intangible assets 0 0 0 0 0 0 0 (0) 0 0 0 N/M N/M N/M
Litigation charges, net 18 5 (51) 13 (15) (47) 6 35 24 63 129 N/M 163 % N/M
Restructuring and severance 33 10 24 28 8 69 4 9 98 46 157 N/M (52)% 127 %
Adjusted costs 3,516 1,082 806 724 715 3,327 936 951 644 581 3,112 (19)% (10)% (6)%
Transformation charges1 0 0 0 0 0 0 0 339 87 84 510 N/M (4)% N/M
Adjusted costs ex. transformation charges23 3,516 1,082 806 724 715 3,327 936 612 557 497 2,602 (30)% (11)% (22)%

For footnotes please refer to page 30.

(In € m.)
Amortized Cost 20 G ross Carryin g Amoun t Allowan ce f or Credit Losses 21
Stage 3 Stage 3
Stage 1 Stage 2 Stage 3 Tot al Stage 1 Stage 2 Stage 3 Tot al
POCI POCI
Dec 31, 2019 645,967 24,680 7,531 2,150 680,328 549 492 3,015 36 4,093
Sep 30, 2019 688,844 28,511 7,537 2,264 727,156 548 515 3,068 54 4,185
Jun 30, 2019 646,295 29,124 7,543 2,222 685,183 556 534 2,996 37 4,123
Mar 31, 2019 669,594 29,428 7,312 2,289 708,623 533 527 3,252 17 4,329
Dec 31, 2018 637,037 32,335 7,452 1,963 678,787 509 501 3,247 3 4,259
Sep 30, 2018 652,985 26,248 7,845 1,832 688,910 458 487 3,300 (1) 4,245
Jun 30, 2018 656,063 26,586 7,913 2,078 692,640 460 504 3,495 9 4,468
Mar 31, 2018 667,647 24,848 7,879 1,859 702,234 454 531 3,468 0 4,453

Fair Value through OCI Fair Value Allowan ce f or Credit Losses

Stage 3 Stage 3
Stage 1 Stage 2 Stage 3 Tot al Stage 1 Stage 2 Stage 3 Tot al
POCI POCI
Dec 31, 2019 45,083 397 23 0 45,503 16 9 10 0 35
Sep 30, 2019 44,419 551 0 0 44,970 14 11 0 0 24
Jun 30, 2019 49,542 417 0 0 49,959 14 1 0 0 15
Mar 31, 2019 53,593 287 0 0 53,879 14 1 0 0 15
Dec 31, 2018 50,932 247 2 1 51,182 11 1 0 (0) 13
Sep 30, 2018 49,411 245 3 0 49,660 9 1 0 0 10
Jun 30, 2018 48,591 217 3 1 48,812 9 1 1 0 11
Mar 31, 2018 52,635 504 8 4 53,151 6 5 1 0 11

Off-Balance sheet Not ion al Amoun t Allowan ce f or Credit Losses 21

Stage 3 Stage 3
Stage 1 Stage 2 Stage 3 Tot al Stage 1 Stage 2 Stage 3 Tot al
POCI POCI
Dec 31, 2019 251,930 5,864 1,424 0 259,218 128 48 166 0 342
Sep 30, 2019 256,942 5,961 1,066 0 263,969 137 53 139 0 329
Jun 30, 2019 246,689 7,056 627 0 254,371 139 73 90 0 301
Mar 31, 2019 253,530 8,998 494 0 263,023 131 71 95 0 297
Dec 31, 2018 252,039 10,021 599 0 262,659 132 73 84 0 289
Sep 30, 2018 240,340 5,601 1,244 1 247,186 119 55 110 0 285
Jun 30, 2018 208,454 5,245 1,001 0 214,700 121 49 136 0 307
Mar 31, 2018 202,866 5,081 1,518 0 209,465 119 41 146 0 306

Net charge-offs / Total loans (at amortized

Memo Gross charge-offs Recoveries Net charge-offs
cost)
Dec 31, 2019 898 (96) 802 0.18%
Sep 30, 2019 576 (60) 516 0.12%
Jun 30, 2019 463 (41) 422 0.10%
Mar 31, 2019 99 (25) 74 0.02%
Dec 31, 2018 995 (172) 823 0.20%
Sep 30, 2018 700 (126) 574 0.14%
Jun 30, 2018 362 (110) 252 0.06%
Mar 31, 2018 183 (48) 135 0.03%

For footnotes please refer to page 30.

_________________________________________________________________________________________________________________________________________
Deutsche Bank Q4 2019 Financial Data Supplement 14
Regulatory capital
Dec 31, 2019 vs.
(In € m., unless stated otherwise) Dec 31, 2017 Mar 31, 2018 Jun 30, 2018 Sep 30, 2018 Dec 31, 2018 Mar 31, 2019 Jun 30, 2019 Sep 30, 2019 Dec 31, 2019 Dec 31, 2018
Regulatory capital (fully loaded)4
Common Equity Tier 1 capital 48,300 47,336 47,884 47,767 47,486 47,712 46,523 46,044 44,148 (7)%
Tier 1 capital 52,921 51,956 52,479 52,363 52,082 52,307 51,119 50,639 48,733 (6)%
Tier 2 capital 10,329 10,144 9,233 9,185 9,211 9,270 9,037 9,221 7,770 (16)%
Total capital 63,250 62,101 61,712 61,547 61,292 61,577 60,156 59,860 56,503 (8)%

Risk-weighted assets and capital adequacy ratios (fully loaded) 1,4

Risk-weighted assets 344,212 354,235 348,319 341,725 350,432 347,475 346,878 343,979 324,015 (8)%
Common Equity Tier 1 capital ratio 14.0 % 13.4 % 13.7 % 14.0 % 13.6 % 13.7 % 13.4 % 13.4 % 13.6% 0.1 ppt
Tier 1 capital ratio 15.4 % 14.7 % 15.1 % 15.3 % 14.9 % 15.1 % 14.7 % 14.7 % 15.0% 0.2 ppt
Total capital ratio 18.4 % 17.5 % 17.7 % 18.0 % 17.5 % 17.7 % 17.3 % 17.4 % 17.4% (0.1)ppt

Regulatory capital (phase-in)4

Common Equity Tier 1 capital7 50,808 47,336 47,884 47,767 47,486 47,712 46,523 46,044 44,148 (7)%
Tier 1 capital 57,631 55,844 55,452 55,343 55,091 55,354 54,138 53,743 50,546 (8)%
Tier 2 capital 6,384 6,256 6,260 6,204 6,202 6,223 6,018 6,117 5,957 (4)%
Total capital 64,016 62,101 61,712 61,547 61,292 61,577 60,156 59,860 56,503 (8)%

Risk-weighted assets and capital adequacy ratios (phase-in) 1,4

Risk-weighted assets7 343,316 354,235 348,319 341,725 350,432 347,475 346,878 343,979 324,015 (8)%
Common Equity Tier 1 capital ratio 14.8 % 13.4 % 13.7 % 14.0 % 13.6 % 13.7 % 13.4 % 13.4 % 13.6% 0.1 ppt
Tier 1 capital ratio 16.8 % 15.8 % 15.9 % 16.2 % 15.7 % 15.9 % 15.6 % 15.6 % 15.6% (0.1)ppt
Total capital ratio 18.6 % 17.5 % 17.7 % 18.0 % 17.5 % 17.7 % 17.3 % 17.4 % 17.4% (0.1)ppt

For footnotes please refer to page 30.

Dec 31, 2019 vs.

(In € bn., unless stated otherwise) Dec 31, 2017 Mar 31, 2018 Jun 30, 2018 Sep 30, 2018 Dec 31, 2018 Mar 31, 2019 Jun 30, 2019 Sep 30, 2019 Dec 31, 2019 Dec 31, 2018
Total assets 1,475 1,478 1,421 1,380 1,348 1,437 1,436 1,501 1,298 (4)%
Changes from IFRS to CRR/CRD 4 (80) (68) (97) (75) (75) (92) (132) (210) (130) 72 %
Derivatives netting (328) (306) (314) (293) (288) (300) (336) (400) (305) 6%
Derivatives add-on 142 145 139 138 131 135 135 127 109 (17)%
Written credit derivatives 16 15 12 13 18 11 9 12 9 (50)%
Securities Financing Transactions 41 28 17 18 14 16 12 9 6 (55)%
Off-balance sheet exposure after application of credit conversion factors 95 95 97 98 99 100 101 105 103 3%
Consolidation, regulatory and other adjustments (46) (45) (48) (49) (49) (53) (53) (64) (51) 5%
Leverage exposure (fully loaded) 1,395 1,409 1,324 1,305 1,273 1,345 1,304 1,291 1,168 (8)%

Leverage exposure (phase-in)7 1,396 1,409 1,324 1,305 1,273 1,345 1,304 1,291 1,168 (8)%

Tier 1 capital (fully loaded) 52.9 52.0 52.5 52.4 52.1 52.3 51.1 50.6 48.7 (6)%

Leverage ratio (fully loaded)1 3.8 % 3.7 % 4.0 % 4.0 % 4.1 % 3.9 % 3.9 % 3.9 % 4.2 % 0.1 ppt

Tier 1 capital (phase-in) 57.6 55.8 55.5 55.3 55.1 55.4 54.1 53.7 50.5 (8)%

Leverage ratio (phase-in)1 4.1 % 4.0 % 4.2 % 4.2 % 4.3 % 4.1 % 4.2 % 4.2 % 4.3 % (0.0)ppt

For footnotes please refer to page 30.

_________________________________________________________________________________________________________________________________________
Deutsche Bank Q4 2019 Financial Data Supplement 16
Non-GAAP financial measures (1/9)
Return Ratios and Adjusted profit (loss) before tax - Group
Q4 2019 vs. Q4 2019 vs. FY 2019 vs.
(In € m., unless stated otherwise) FY 2017 Q1 2018 Q2 2018 Q3 2018 Q4 2018 FY 2018 Q1 2019 Q2 2019 Q3 2019 Q4 2019 FY 2019 Q4 2018 Q3 2019 FY 2018
Return ratios:
Profit (loss) before tax 1,228 432 711 506 (319) 1,330 292 (946) (687) (1,293) (2,634) N/M 88 % N/M
Profit (loss) (735) 120 401 229 (409) 341 201 (3,150) (832) (1,483) (5,265) N/M 78 % N/M
Profit (loss) attributable to noncontrolling interests 15 (0) 40 18 17 75 23 40 27 35 125 110 % 29 % 68 %
Profit (loss) attributable to Deutsche Bank shareholders and
(751) 120 361 211 (425) 267 178 (3,190) (859) (1,518) (5,390) N/M 77 % N/M
additional equity components
Profit (loss) attributable to additional equity components 325 77 80 81 82 319 81 82 83 83 328 2% 0% 3%
Profit (loss) attributable to Deutsche Bank shareholders (1,076) 43 282 130 (507) (52) 97 (3,272) (942) (1,602) (5,718) N/M 70 % N/M

Average allocated shareholders' equity 63,926 62,631 62,236 62,616 62,792 62,610 62,527 61,799 58,754 57,476 60,170 (8)% (2)% (4)%
Deduct: Average allocated goodwill and other intangible assets22 8,881 8,610 8,150 8,255 8,378 8,386 8,374 8,038 6,942 6,662 7,528 (20)% (4)% (10)%
Average allocated tangible shareholders' equity 55,045 54,021 54,086 54,361 54,414 54,224 54,153 53,760 51,813 50,814 52,643 (7)% (2)% (3)%
Post-tax return on average shareholders' equity 1,16 (1.7) % 0.3 % 1.8 % 0.8 % (3.2) % (0.1) % 0.6 % (21.2) % (6.4) % (11.1) % (9.5) % (7.9)ppt (4.7)ppt (9.4)ppt
Post-tax return on average tangible shareholders' equity 1,2,16 (2.0) % 0.3 % 2.1 % 1.0 % (3.7) % (0.1) % 0.7 % (24.3) % (7.3) % (12.6) % (10.9) % (8.9)ppt (5.3)ppt (10.8)ppt

Specific revenue items:

Revenues 26,447 6,976 6,590 6,175 5,575 25,316 6,351 6,203 5,262 5,349 23,165 (4)% 2% (8)%
Deduct: Specific revenue items (for details see divisional pages) (86) 315 194 (16) 199 691 31 109 (182) 34 (8) (83)% N/M N/M
Revenues ex. specific items 26,533 6,661 6,397 6,191 5,376 24,625 6,320 6,094 5,444 5,315 23,173 (1)% (2)% (6)%

Transformation charges1:
Occupancy 0 0 0 0 0 0 0 0 14 123 137 N/M N/M N/M
IT costs 0 0 0 0 0 0 0 333 167 477 977 N/M 185 % N/M
Professional service fees 0 0 0 0 0 0 0 0 4 8 12 N/M 91 % N/M
Other 0 0 0 0 0 0 0 18 0 0 18 N/M N/M N/M
Transformation charges1 0 0 0 0 0 0 0 351 186 608 1,145 N/M N/M N/M

Adjusted profit (loss) before tax:

Profit (loss) before tax 1,228 432 711 506 (319) 1,330 292 (946) (687) (1,293) (2,634) N/M 88 % N/M
Deduct: Specific revenue items (86) 315 194 (16) 199 691 31 109 (182) 34 (8) (83)% N/M N/M
Deduct: Transformation charges1 0 0 0 0 0 0 0 351 186 608 1,145 N/M N/M N/M
Deduct: Impairment of goodwill / other intangibles 21 0 0 0 0 0 0 1,035 2 (0) 1,037 N/M N/M N/M
Deduct: Restructuring & severance 570 41 239 103 181 563 6 92 234 473 805 161 % 102 % 43 %
Adjusted profit (loss) before tax 1,905 158 756 625 (337) 1,202 267 424 (84) (246) 361 (27)% 193 % (70)%

For footnotes please refer to page 30.

_________________________________________________________________________________________________________________________________________
Deutsche Bank Q4 2019 Financial Data Supplement 17
Non-GAAP financial measures (2/9)
Return Ratios and Adjusted profit (loss) before tax - Corporate Bank
Q4 2019 vs. Q4 2019 vs. FY 2019 vs.
(In € m., unless stated otherwise) FY 2017 Q1 2018 Q2 2018 Q3 2018 Q4 2018 FY 2018 Q1 2019 Q2 2019 Q3 2019 Q4 2019 FY 2019 Q4 2018 Q3 2019 FY 2018
Return ratios:
Profit (loss) before tax 1,459 195 425 326 327 1,273 288 (278) 233 (107) 137 N/M N/M (89)%
Profit (loss) 978 141 306 235 235 916 208 (200) 168 (77) 98 N/M N/M (89)%
Profit (loss) attributable to noncontrolling interests 0 0 0 0 0 0 0 0 0 0 0 N/M N/M N/M
Profit (loss) attributable to Deutsche Bank shareholders and
978 141 306 235 235 916 208 (200) 168 (77) 98 N/M N/M (89)%
additional equity components
Profit (loss) attributable to additional equity components 59 13 13 14 14 54 14 14 14 14 55 (2)% 2% 3%
Profit (loss) attributable to Deutsche Bank shareholders 919 128 293 221 221 863 194 (214) 154 (91) 43 N/M N/M (95)%

Average allocated shareholders' equity 10,143 10,089 9,650 9,911 10,107 9,987 9,795 9,675 8,732 8,753 9,280 (13)% 0% (7)%
Deduct: Average allocated goodwill and other intangible assets 1,053 949 867 768 649 826 641 589 205 110 385 (83)% (47)% (53)%
Average allocated tangible shareholders' equity 9,090 9,140 8,783 9,143 9,458 9,161 9,154 9,086 8,527 8,644 8,895 (9)% 1% (3)%
Post-tax return on average shareholders' equity 1,16 9.1 % 5.1 % 12.1 % 8.9 % 8.7 % 8.6 % 7.9 % (8.9) % 7.1 % (4.1) % 0.5 % (12.9)ppt (11.2)ppt (8.2)ppt
Post-tax return on average tangible shareholders' equity 1,2,16 10.1 % 5.6 % 13.3 % 9.7 % 9.3 % 9.4 % 8.5 % (9.4) % 7.2 % (4.2) % 0.5 % (13.5)ppt (11.4)ppt (8.9)ppt

Specific revenue items:

Revenues 5,376 1,264 1,386 1,260 1,353 5,263 1,343 1,295 1,335 1,291 5,264 (5)% (3)% 0%
CVA / DVA 0 0 0 0 0 0 0 0 0 0 0 N/M N/M N/M
Gain on sale - Global Transaction Banking 0 0 57 0 0 57 0 0 0 0 0 N/M N/M N/M
Deduct: Specific revenue items 0 0 57 0 0 57 0 0 0 0 0 N/M N/M N/M
Revenues ex. specific items 5,376 1,264 1,329 1,260 1,353 5,206 1,343 1,295 1,335 1,291 5,264 (5)% (3)% 1%

Adjusted profit (loss) before tax:

Profit (loss) before tax 1,459 195 425 326 327 1,273 288 (278) 233 (107) 137 N/M N/M (89)%
Deduct: Specific revenue items 0 0 57 0 0 57 0 0 0 0 0 N/M N/M N/M
Deduct: Transformation charges1 0 0 0 0 0 0 0 0 6 154 160 N/M N/M N/M
Deduct: Impairment of goodwill / other intangibles 6 0 0 0 0 0 0 491 2 (0) 492 N/M N/M N/M
Deduct: Restructuring & severance 31 (0) 23 8 14 44 2 18 7 123 150 N/M N/M N/M
Adjusted profit (loss) before tax 1,497 195 390 334 340 1,260 290 230 248 170 939 (50)% (31)% (26)%

For footnotes please refer to page 30.

_________________________________________________________________________________________________________________________________________
Deutsche Bank Q4 2019 Financial Data Supplement 18
Non-GAAP financial measures (3/9)
Return Ratios and Adjusted profit (loss) before tax - Investment Bank
Q4 2019 vs. Q4 2019 vs. FY 2019 vs.
(In € m., unless stated otherwise) FY 2017 Q1 2018 Q2 2018 Q3 2018 Q4 2018 FY 2018 Q1 2019 Q2 2019 Q3 2019 Q4 2019 FY 2019 Q4 2018 Q3 2019 FY 2018
Return ratios:
Profit (loss) before tax 1,498 448 366 227 (185) 856 247 217 39 (71) 433 (62)% N/M (49)%
Profit (loss) 1,004 323 264 163 (133) 616 178 157 28 (51) 312 (62)% N/M (49)%
Profit (loss) attributable to noncontrolling interests 0 0 0 0 0 0 0 0 0 0 0 N/M N/M N/M
Profit (loss) attributable to Deutsche Bank shareholders and
1,004 323 264 163 (133) 616 178 157 28 (51) 312 (62)% N/M (49)%
additional equity components
Profit (loss) attributable to additional equity components 127 30 31 31 32 124 32 32 34 35 133 10 % 3% 7%
Profit (loss) attributable to Deutsche Bank shareholders 877 293 232 132 (165) 492 146 124 (6) (86) 178 (48)% N/M (64)%

Average allocated shareholders' equity 22,553 22,335 23,316 23,523 23,740 23,155 23,735 23,839 23,579 23,481 23,639 (1)% (0)% 2%
Deduct: Average allocated goodwill and other intangible assets 1,392 1,509 2,063 2,295 2,454 2,062 2,456 2,315 2,066 1,917 2,199 (22)% (7)% 7%
Average allocated tangible shareholders' equity 21,161 20,826 21,253 21,228 21,286 21,093 21,279 21,524 21,512 21,564 21,440 1% 0% 2%
Post-tax return on average shareholders' equity 1,16 3.9 % 5.2 % 4.0 % 2.2 % (2.8) % 2.1 % 2.5 % 2.1 % (0.1) % (1.5) % 0.8 % 1.3 ppt (1.4)ppt (1.4)ppt
Post-tax return on average tangible shareholders' equity 1,2,16 4.1 % 5.6 % 4.4 % 2.5 % (3.1) % 2.3 % 2.8 % 2.3 % (0.1) % (1.6) % 0.8 % 1.5 ppt (1.5)ppt (1.5)ppt

Specific revenue items:

Revenues 8,303 2,344 2,038 1,741 1,344 7,467 1,983 1,813 1,646 1,520 6,961 13 % (8)% (7)%
CVA / DVA (348) 61 56 (58) 67 126 (49) (15) (62) (14) (140) N/M (77)% N/M
Change in valuation of an investment - FIC S&T 0 84 0 0 56 140 36 101 (37) 42 143 (25)% N/M 2%
Deduct: Specific revenue items (348) 145 56 (58) 123 266 (12) 86 (99) 28 3 (77)% N/M (99)%
Revenues ex. specific items 8,651 2,199 1,981 1,799 1,221 7,201 1,995 1,727 1,745 1,492 6,959 22 % (14)% (3)%

Adjusted profit (loss) before tax:

Profit (loss) before tax 1,498 448 366 227 (185) 856 247 217 39 (71) 433 (62)% N/M (49)%
Deduct: Specific revenue items (348) 145 56 (58) 123 266 (12) 86 (99) 28 3 (77)% N/M (99)%
Deduct: Transformation charges1 0 0 0 0 0 0 0 0 77 137 214 N/M 77 % N/M
Deduct: Impairment of goodwill / other intangibles 0 0 0 0 0 0 0 0 0 0 0 N/M N/M N/M
Deduct: Restructuring & severance 91 18 126 51 39 233 18 26 77 98 219 151 % 27 % (6)%
Adjusted profit (loss) before tax 1,938 320 436 336 (269) 823 277 157 293 136 863 N/M (54)% 5%

For footnotes please refer to page 30.

_________________________________________________________________________________________________________________________________________
Deutsche Bank Q4 2019 Financial Data Supplement 19
Non-GAAP financial measures (4/9)
Return Ratios and Adjusted profit (loss) before tax - Private Bank
Q4 2019 vs. Q4 2019 vs. FY 2019 vs.
(In € m., unless stated otherwise) FY 2017 Q1 2018 Q2 2018 Q3 2018 Q4 2018 FY 2018 Q1 2019 Q2 2019 Q3 2019 Q4 2019 FY 2019 Q4 2018 Q3 2019 FY 2018
Return ratios:
Profit (loss) before tax 275 363 190 137 11 701 216 (310) 112 (283) (265) N/M N/M N/M
Profit (loss) 184 261 137 99 8 505 155 (223) 81 (204) (191) N/M N/M N/M
Profit (loss) attributable to noncontrolling interests 0 0 0 0 0 0 0 0 0 0 0 N/M N/M N/M
Profit (loss) attributable to Deutsche Bank shareholders and
184 261 137 99 8 505 155 (223) 81 (204) (191) N/M N/M N/M
additional equity components
Profit (loss) attributable to additional equity components 60 14 15 15 16 60 15 16 17 17 65 10 % 4% 9%
Profit (loss) attributable to Deutsche Bank shareholders 124 247 122 84 (8) 445 140 (239) 64 (221) (256) N/M N/M N/M

Average allocated shareholders' equity 11,886 12,127 11,965 12,259 12,453 12,231 12,499 12,460 11,960 11,961 12,241 (4)% 0% 0%
Deduct: Average allocated goodwill and other intangible assets 2,124 2,039 1,974 2,059 2,110 2,063 2,108 2,025 1,577 1,439 1,787 (32)% (9)% (13)%
Average allocated tangible shareholders' equity 9,762 10,089 9,991 10,200 10,343 10,168 10,391 10,435 10,383 10,522 10,454 2% 1% 3%
Post-tax return on average shareholders' equity 1,16 1.0 % 8.1 % 4.1 % 2.7 % (0.3) % 3.6 % 4.5 % (7.7) % 2.1 % (7.4) % (2.1) % (7.1)ppt (9.5)ppt (5.7)ppt
Post-tax return on average tangible shareholders' equity 1,2,16 1.3 % 9.8 % 4.9 % 3.3 % (0.3) % 4.4 % 5.4 % (9.2) % 2.5 % (8.4) % (2.4) % (8.1)ppt (10.9)ppt (6.8)ppt

Specific revenue items:

Revenues 8,732 2,305 2,164 2,094 2,077 8,641 2,129 2,092 2,037 1,986 8,245 (4)% (3)% (5)%
CVA / DVA 0 0 0 0 0 0 0 0 0 0 0 N/M N/M N/M
Gain from property sale - Private Bank Germany (10) 156 0 0 0 156 0 0 0 0 0 N/M N/M N/M
Sal. Oppenheim workout - Wealth Management 409 14 81 42 35 172 43 23 18 21 105 (41)% 18 % (50)%
Gain from property sale in WM / Sal. Oppenheim 0 0 0 0 40 40 0 0 0 0 0 N/M N/M N/M
Deduct: Specific revenue items 398 170 81 42 75 368 43 23 18 21 105 (72)% 18 % (71)%
Revenues ex. specific items 8,333 2,136 2,084 2,052 2,002 8,273 2,086 2,069 2,019 1,965 8,140 (2)% (3)% (2)%

Adjusted profit (loss) before tax:

Profit (loss) before tax 275 363 190 137 11 701 216 (310) 112 (283) (265) N/M N/M N/M
Deduct: Specific revenue items 398 170 81 42 75 368 43 23 18 21 105 (72)% 18 % (71)%
Deduct: Transformation charges1 0 0 0 0 0 0 0 12 5 174 191 N/M N/M N/M
Deduct: Impairment of goodwill / other intangibles 12 0 0 0 0 0 0 545 0 (0) 545 N/M N/M N/M
Deduct: Restructuring & severance 395 9 21 9 73 112 (18) (7) 9 174 158 139 % N/M 41 %
Adjusted profit (loss) before tax 285 202 131 104 8 445 154 217 107 45 524 N/M (58)% 18 %

For footnotes please refer to page 30.

_________________________________________________________________________________________________________________________________________
Deutsche Bank Q4 2019 Financial Data Supplement 20
Non-GAAP financial measures (5/9)
Return Ratios and Adjusted profit (loss) before tax - Asset Management
Q4 2019 vs. Q4 2019 vs. FY 2019 vs.
(In € m., unless stated otherwise) FY 2017 Q1 2018 Q2 2018 Q3 2018 Q4 2018 FY 2018 Q1 2019 Q2 2019 Q3 2019 Q4 2019 FY 2019 Q4 2018 Q3 2019 FY 2018
Return ratios:
Profit (loss) before tax 732 72 94 144 59 368 97 89 105 177 468 199 % 69 % 27 %
Profit (loss) 491 52 67 103 43 265 70 64 75 127 337 199 % 69 % 27 %
Profit (loss) attributable to noncontrolling interests 0 0 0 0 0 0 0 0 0 0 0 N/M N/M N/M
Profit (loss) attributable to Deutsche Bank shareholders and
491 52 67 103 43 265 70 64 75 127 337 199 % 69 % 27 %
additional equity components
Profit (loss) attributable to additional equity components 5 1 2 3 3 9 3 3 3 3 11 13 % 2% 30 %
Profit (loss) attributable to Deutsche Bank shareholders 486 50 65 101 40 257 67 62 73 125 326 N/M 72 % 27 %

Average allocated shareholders' equity 4,505 4,540 4,623 4,725 4,747 4,659 4,808 4,830 4,834 4,871 4,836 3% 1% 4%
Deduct: Average allocated goodwill and other intangible assets22 3,680 3,654 3,098 2,974 3,003 3,181 3,016 3,033 3,038 3,063 3,038 2% 1% (5)%
Average allocated tangible shareholders' equity 825 886 1,525 1,752 1,743 1,478 1,793 1,797 1,795 1,808 1,798 4% 1% 22 %
Post-tax return on average shareholders' equity 1,16 10.8 % 4.4 % 5.6 % 8.5 % 3.4 % 5.5 % 5.6 % 5.1 % 6.0 % 10.2 % 6.7 % 6.9 ppt 4.2 ppt 1.2 ppt
Post-tax return on average tangible shareholders' equity 1,2,16 58.9 % 22.8 % 17.1 % 23.0 % 9.2 % 17.4 % 14.9 % 13.7 % 16.2 % 27.5 % 18.1 % 18.4 ppt 11.4 ppt 0.7 ppt

Specific revenue items:

Revenues 2,532 545 561 567 514 2,187 525 594 543 671 2,332 31 % 24 % 7%
CVA / DVA 0 0 0 0 0 0 0 0 0 0 0 N/M N/M N/M
Insurance recovery related to a real-estate fund 52 0 0 0 0 0 0 0 0 0 0 N/M N/M N/M
Deduct: Specific revenue items 52 0 0 0 0 0 0 0 0 0 0 N/M N/M N/M
Revenues ex. specific items 2,480 545 561 567 514 2,187 525 594 543 671 2,332 31 % 24 % 7%

Adjusted profit (loss) before tax:

Profit (loss) before tax 732 72 94 144 59 368 97 89 105 177 468 199 % 69 % 27 %
Deduct: Specific revenue items 52 0 0 0 0 0 0 0 0 0 0 N/M N/M N/M
Deduct: Transformation charges1 0 0 0 0 0 0 0 0 9 21 30 N/M 139 % N/M
Deduct: Impairment of goodwill / other intangibles 3 0 0 0 0 0 0 0 0 0 0 N/M N/M N/M
Deduct: Restructuring & severance 18 4 9 4 27 45 4 28 6 3 41 (88)% (48)% (8)%
Adjusted profit (loss) before tax 700 76 103 148 87 413 101 117 120 202 539 133 % 68 % 31 %

For footnotes please refer to page 30.

_________________________________________________________________________________________________________________________________________
Deutsche Bank Q4 2019 Financial Data Supplement 21
Non-GAAP financial measures (6/9)
Return Ratios and Adjusted profit (loss) before tax - Corporate & Other
Q4 2019 vs. Q4 2019 vs. FY 2019 vs.
(In € m., unless stated otherwise) FY 2017 Q1 2018 Q2 2018 Q3 2018 Q4 2018 FY 2018 Q1 2019 Q2 2019 Q3 2019 Q4 2019 FY 2019 Q4 2018 Q3 2019 FY 2018
Return ratios:
Profit (loss) before tax (1,105) (173) (129) (23) (109) (433) (15) 101 (161) (154) (229) 41 % (5)% (47)%
Profit (loss) (2,298) (316) (204) (152) (257) (928) (21) (2,396) (453) (663) (3,533) 158 % 46 % N/M
Profit (loss) attributable to noncontrolling interests 15 (0) 40 18 17 75 23 40 27 35 125 110 % 29 % 68 %
Profit (loss) attributable to Deutsche Bank shareholders and
(2,313) (315) (244) (170) (274) (1,003) (43) (2,436) (480) (698) (3,658) 155 % 45 % N/M
additional equity components
Profit (loss) attributable to additional equity components 0 0 0 0 0 0 0 0 0 0 0 N/M N/M N/M
Profit (loss) attributable to Deutsche Bank shareholders (2,313) (315) (244) (170) (274) (1,003) (43) (2,436) (480) (698) (3,658) 155 % 45 % N/M

Average allocated shareholders' equity 752 (0) 0 0 0 0 0 0 0 0 0 N/M 26 % 108 %

Deduct: Average allocated goodwill and other intangible assets 42 (0) 0 0 0 0 0 0 0 0 0 140 % 1% 106 %
Average allocated tangible shareholders' equity 710 0 0 0 (0) 0 (0) (0) 0 0 0 N/M 64 % 113 %
Post-tax return on average shareholders' equity 1,16 N/M N/M N/M N/M N/M N/M N/M N/M N/M N/M N/M N/M N/M N/M
Post-tax return on average tangible shareholders' equity 1,2,16 N/M N/M N/M N/M N/M N/M N/M N/M N/M N/M N/M N/M N/M N/M

Specific revenue items:

Revenues (539) (64) (102) 54 (8) (120) (17) 188 (76) 59 155 N/M N/M N/M
CVA / DVA (164) 0 0 0 0 0 0 0 0 0 0 N/M N/M N/M
CTA realization / loss on sale (164) 0 0 0 0 0 0 0 0 0 0 N/M N/M N/M
Adjustment of cash flow hedge 137 0 0 0 0 0 0 0 0 0 0 N/M N/M N/M
Deduct: Specific revenue items (191) 0 0 0 0 0 0 0 0 0 0 N/M N/M N/M
Revenues ex. specific items (348) (64) (102) 54 (8) (120) (17) 188 (76) 59 155 N/M N/M N/M

Adjusted profit (loss) before tax:

Profit (loss) before tax (1,105) (173) (129) (23) (109) (433) (15) 101 (161) (154) (229) 41 % (5)% (47)%
Deduct: Specific revenue items (191) 0 0 0 0 0 0 0 0 0 0 N/M N/M N/M
Deduct: Transformation charges1 0 0 0 0 0 0 0 0 2 37 39 N/M N/M N/M
Deduct: Impairment of goodwill / other intangibles 0 0 0 0 0 0 0 0 0 0 0 N/M N/M N/M
Deduct: Restructuring & severance 2 0 36 3 21 60 (3) 18 37 29 82 39 % (22)% 37 %
Adjusted profit (loss) before tax (911) (173) (93) (19) (88) (373) (18) 120 (123) (88) (109) (0)% (29)% (71)%

For footnotes please refer to page 30.

_________________________________________________________________________________________________________________________________________
Deutsche Bank Q4 2019 Financial Data Supplement 22
Non-GAAP financial measures (7/9)
Return Ratios and Adjusted profit (loss) before tax - Core Bank
Q4 2019 vs. Q4 2019 vs. FY 2019 vs.
(In € m., unless stated otherwise) FY 2017 Q1 2018 Q2 2018 Q3 2018 Q4 2018 FY 2018 Q1 2019 Q2 2019 Q3 2019 Q4 2019 FY 2019 Q4 2018 Q3 2019 FY 2018
Return ratios:
Profit (loss) before tax 2,860 905 946 811 103 2,765 832 (180) 328 (437) 543 N/M N/M (80)%
Profit (loss) 358 461 570 449 (105) 1,375 590 (2,599) (101) (867) (2,977) N/M N/M N/M
Profit (loss) attributable to noncontrolling interests 15 (0) 40 18 17 75 23 40 27 35 125 110 % 29 % 68 %
Profit (loss) attributable to Deutsche Bank shareholders and
343 461 530 431 (122) 1,300 567 (2,639) (128) (902) (3,102) N/M N/M N/M
additional equity components
Profit (loss) attributable to additional equity components 251 58 61 63 64 246 63 65 67 69 265 8% 3% 7%
Profit (loss) attributable to Deutsche Bank shareholders 93 403 469 368 (186) 1,054 504 (2,704) (196) (972) (3,367) N/M N/M N/M

Average allocated shareholders' equity 49,839 49,091 49,554 50,419 51,047 50,032 50,837 50,804 49,105 49,067 49,997 (4)% (0)% (0)%
Deduct: Average allocated goodwill and other intangible assets22 8,291 8,151 8,002 8,096 8,217 8,132 8,221 7,962 6,888 6,529 7,409 (21)% (5)% (9)%
Average allocated tangible shareholders' equity 41,548 40,941 41,552 42,323 42,830 41,900 42,616 42,842 42,217 42,538 42,588 (1)% 1% 2%
Post-tax return on average shareholders' equity 1,16 0.2 % 3.3 % 3.8 % 2.9 % (1.5) % 2.1 % 4.0 % (21.3) % (1.6) % (7.9) % (6.7) % (6.5)ppt (6.3)ppt (8.8)ppt
Post-tax return on average tangible shareholders' equity 1,2,16 0.2 % 3.9 % 4.5 % 3.5 % (1.7) % 2.5 % 4.7 % (25.2) % (1.9) % (9.1) % (7.9) % (7.4)ppt (7.3)ppt (10.4)ppt

Specific revenue items:

Revenues 24,403 6,396 6,047 5,716 5,280 23,438 5,964 5,982 5,484 5,528 22,957 5% 1% (2)%
Deduct: Specific revenue items (for details see divisional pages) (89) 315 194 (16) 199 691 31 109 (81) 49 108 (75)% N/M (84)%
Revenues ex. specific items 24,492 6,080 5,853 5,732 5,082 22,747 5,933 5,872 5,566 5,479 22,850 8% (2)% 0%

Adjusted profit (loss) before tax:

Profit (loss) before tax 2,860 905 946 811 103 2,765 832 (180) 328 (437) 543 N/M N/M (80)%
Deduct: Specific revenue items (89) 315 194 (16) 199 691 31 109 (81) 49 108 (75)% N/M (84)%
Deduct: Transformation charges1 0 0 0 0 0 0 0 12 98 524 635 N/M N/M N/M
Deduct: Impairment of goodwill / other intangibles 21 0 0 0 0 0 0 1,036 2 (0) 1,037 N/M N/M N/M
Deduct: Restructuring & severance 537 31 215 75 173 494 3 83 136 427 649 146 % N/M 31 %
Adjusted profit (loss) before tax 3,508 621 967 902 78 2,568 805 841 646 465 2,756 N/M (28)% 7%

For footnotes please refer to page 30.

_________________________________________________________________________________________________________________________________________
Deutsche Bank Q4 2019 Financial Data Supplement 23
Non-GAAP financial measures (8/9)
Return Ratios and Adjusted profit (loss) before tax - Capital Release Unit
Q4 2019 vs. Q4 2019 vs. FY 2019 vs.
(In € m., unless stated otherwise) FY 2017 Q1 2018 Q2 2018 Q3 2018 Q4 2018 FY 2018 Q1 2019 Q2 2019 Q3 2019 Q4 2019 FY 2019 Q4 2018 Q3 2019 FY 2018
Return ratios:
Profit (loss) before tax (1,633) (473) (235) (305) (422) (1,435) (541) (765) (1,015) (856) (3,177) 103 % (16)% 121 %
Profit (loss) (1,094) (341) (169) (220) (304) (1,033) (389) (551) (731) (616) (2,287) 103 % (16)% 121 %
Profit (loss) attributable to noncontrolling interests 0 0 0 0 0 0 0 0 0 0 0 N/M N/M N/M
Profit (loss) attributable to Deutsche Bank shareholders and
(1,094) (341) (169) (220) (304) (1,033) (389) (551) (731) (616) (2,287) 103 % (16)% 121 %
additional equity components
Profit (loss) attributable to additional equity components 75 19 19 18 17 73 17 17 16 14 64 (20)% (11)% (13)%
Profit (loss) attributable to Deutsche Bank shareholders (1,169) (359) (188) (238) (321) (1,106) (406) (568) (747) (630) (2,351) 96 % (16)% 113 %

Average allocated shareholders' equity 14,087 13,539 12,682 12,197 11,745 12,577 11,690 10,995 9,649 8,409 10,174 (28)% (13)% (19)%
Deduct: Average allocated goodwill and other intangible assets 591 459 149 159 161 254 153 76 54 133 119 (18)% 147 % (53)%
Average allocated tangible shareholders' equity 13,497 13,080 12,534 12,038 11,584 12,323 11,537 10,919 9,595 8,276 10,055 (29)% (14)% (18)%
Post-tax return on average shareholders' equity 1,16 (8.3) % (10.6) % (5.9) % (7.8) % (10.9) % (8.8) % (13.9) % (20.7) % (31.0) % (30.0) % (23.1) % (19.0)ppt 1.0 ppt (14.3)ppt
Post-tax return on average tangible shareholders' equity 1,2,16 (8.7) % (11.0) % (6.0) % (7.9) % (11.1) % (9.0) % (14.1) % (20.8) % (31.1) % (30.5) % (23.4) % (19.4)ppt 0.7 ppt (14.4)ppt

Specific revenue items:

Revenues 2,044 581 544 459 294 1,878 387 221 (222) (179) 208 N/M (19)% (89)%
CVA / DVA 0 0 0 0 0 0 0 0 (19) (15) (35) N/M (21)% N/M
Update in valuation methodology 3 0 0 0 0 0 0 0 (81) 0 (81) N/M N/M N/M
Deduct: Specific revenue items 3 0 0 0 0 0 0 0 (100) (15) (116) N/M (85)% N/M
Revenues ex. specific items 2,041 581 544 459 294 1,878 387 221 (122) (164) 323 N/M 34 % (83)%

Adjusted profit (loss) before tax:

Profit (loss) before tax (1,633) (473) (235) (305) (422) (1,435) (541) (765) (1,015) (856) (3,177) 103 % (16)% 121 %
Deduct: Specific revenue items 3 0 0 0 0 0 0 0 (100) (15) (116) N/M (85)% N/M
Deduct: Transformation charges1 0 0 0 0 0 0 0 339 87 84 510 N/M (4)% N/M
Deduct: Impairment of goodwill / other intangibles 0 0 0 0 0 0 0 (0) 0 0 0 N/M N/M N/M
Deduct: Restructuring & severance 33 10 24 28 8 69 4 9 98 46 157 N/M (52)% 127 %
Adjusted profit (loss) before tax (1,603) (463) (211) (277) (415) (1,366) (537) (417) (730) (711) (2,395) 71 % (3)% 75 %

For footnotes please refer to page 30.

_________________________________________________________________________________________________________________________________________
Deutsche Bank Q4 2019 Financial Data Supplement 24
Non-GAAP financial measures (9/9)
Per Share information and net assets (adjusted)
Q4 2019 vs. Q4 2019 vs. FY 2019 vs.
(In € m., unless stated otherwise) FY 2017 Q1 2018 Q2 2018 Q3 2018 Q4 2018 FY 2018 Q1 2019 Q2 2019 Q3 2019 Q4 2019 FY 2019 Q4 2018 Q3 2019 FY 2018

Earnings per share measure:

Profit (loss) attributable to Deutsche Bank shareholders after AT1-
(1,049) 120 69 211 (425) (26) 178 (3,520) (859) (1,518) (5,719) N/M 77 % N/M
coupon adjustment (in € m)
Weighted-average shares outstanding 1,968 2,095 2,104 2,104 2,104 2,102 2,097 2,114 2,112 2,117 2,110 1% 0% 0%
Adjusted weighted-average shares after assumed conversions 1,968 2,151 2,155 2,157 2,104 2,102 2,152 2,114 2,112 2,117 2,110 1% 0% 0%
8
Basic earnings per share in € € (0.53) € 0.06 € 0.03 € 0.10 € (0.20) € (0.01) € 0.08 € (1.66) € (0.41) € (0.72) € (2.71) N/M 76 % N/M
1,8
Diluted earnings per share in € € (0.53) € 0.06 € 0.03 € 0.10 € (0.20) € (0.01) € 0.08 € (1.66) € (0.41) € (0.72) € (2.71) N/M 76 % N/M

Book Value per basic share outstanding:

Total shareholders' equity (Book value) 63,174 61,943 62,656 62,577 62,495 62,495 62,914 58,742 58,354 55,857 55,857 (11)% (4)% (11)%
Number of shares issued 2,067 2,067 2,067 2,067 2,067 2,067 2,067 2,067 2,067 2,067 2,067 0% 0% 0%
Treasury shares (0) (1) (7) (2) (1) (1) (4) (2) (1) (1) (1) (50)% (43)% (50)%
Vested share awards 29 32 41 38 40 40 45 50 48 52 52 32 % 9% 32 %
Basic Shares Outstanding 2,095 2,098 2,100 2,103 2,105 2,105 2,108 2,115 2,114 2,119 2,119 1% 0% 1%
Book value per basic share outstanding in € € 30.16 € 29.53 € 29.83 € 29.75 € 29.69 € 29.69 € 29.84 € 27.77 € 27.61 € 26.37 € 26.37 (11)% (4)% (11)%

Tangible book value per basic share outstanding:

Total shareholders' equity (Book value) 63,174 61,943 62,656 62,577 62,495 62,495 62,914 58,742 58,354 55,857 55,857 (11)% (4)% (11)%
Deduct: Goodwill and other intangible assets22 8,839 8,037 8,223 8,295 8,372 8,372 8,404 6,938 6,859 6,254 6,254 (25)% (9)% (25)%
Tangible shareholders' equity (Tangible book value) 54,335 53,906 54,433 54,283 54,122 54,122 54,509 51,804 51,495 49,603 49,603 (8)% (4)% (8)%
Number of shares issued 2,067 2,067 2,067 2,067 2,067 2,067 2,067 2,067 2,067 2,067 2,067 0% 0% 0%
Treasury shares (0) (1) (7) (2) (1) (1) (4) (2) (1) (1) (1) (50)% (43)% (50)%
Vested share awards 29 32 41 38 40 40 45 50 48 52 52 32 % 9% 32 %
Basic Shares Outstanding 2,095 2,098 2,100 2,103 2,105 2,105 2,108 2,115 2,114 2,119 2,119 1% 0% 1%
Tangible book value per basic share outstanding in € € 25.94 € 25.70 € 25.91 € 25.81 € 25.71 € 25.71 € 25.86 € 24.49 € 24.36 € 23.41 € 23.41 (9)% (4)% (9)%

Net assets (adjusted) in € bn.

Total assets4 1,475 1,478 1,421 1,380 1,348 1,348 1,437 1,436 1,501 1,298 1,298 (4)% (14)% (4)%
Deduct: Derivatives (incl. hedging derivatives) credit line netting 288 269 278 258 253 253 263 292 351 266 266 5% (24)% 5%
Deduct: Derivatives cash collateral received / paid 72 69 71 66 68 68 70 79 94 74 74 9% (21)% 9%
Deduct: Securities Financing Transactions credit line netting 1 5 1 1 1 1 1 1 4 1 1 75 % (71)% 75 %
Deduct: Pending settlements netting 20 47 45 40 18 18 40 42 34 10 10 (41)% (69)% (41)%
Net assets (adjusted)1,4 1,095 1,088 1,026 1,016 1,010 1,010 1,063 1,022 1,019 946 946 (6)% (7)% (6)%

For footnotes please refer to page 30.

Non-GAAP Financial Measures At the Group level, tangible shareholders' equity is shareholders’ equity as
reported in the Consolidated Balance Sheet excluding goodwill and other
This document and other documents the Group has published or may publish intangible assets. Tangible shareholders’ equity for the segments is calculated
contain non-GAAP financial measures. Non-GAAP financial measures are by deducting goodwill and other intangible assets from shareholders’ equity as
measures of the Group’s historical or future performance, financial position or allocated to the segments. Shareholders’ equity and tangible shareholders’
cash flows that contain adjustments that exclude or include amounts that are equity are presented on an average basis.
included or excluded, as the case may be, from the most directly comparable
measure calculated and presented in accordance with IFRS in the Group’s The Group believes that a presentation of average tangible shareholders’
financial statements. equity makes comparisons to its competitors easier, and refers to this measure
in the return on equity ratios presented by the Group. However, average
tangible shareholders’ equity is not a measure provided for in IFRS, and the
Return on Equity Ratios Group’s ratios based on this measure should not be compared to other
companies’ ratios without considering differences in the calculations.
The Group reports a post tax return on average shareholders’ equity and a
post-tax return on average tangible shareholders’ equity, each of which is a
non-GAAP financial measure. Allocation of Average Shareholders’ Equity
The post-tax returns on average shareholders’ equity and average tangible Shareholders’ equity is fully allocated to the Group’s segments based on the
shareholders' equity are calculated as profit (loss) attributable to Deutsche regulatory capital demand of each segment. Regulatory capital demand
Bank shareholders after AT1 coupon assumed dividend accruals as a reflects the combined contribution of each segment to the Groups’ Common
percentage of average shareholders’ equity and average tangible Equity Tier 1 ratio, the Groups’ Leverage ratio and the Group’s Capital Loss
shareholders' equity, respectively. under Stress.
Profit (loss) attributable to Deutsche Bank shareholders after AT1 coupon Contributions in each of the three dimensions are weighted to reflect their
assumed dividend accruals for the segments is a non-GAAP financial measure relative importance and level of constraint for the Group.
and is defined as profit (loss) excluding post-tax profit (loss) attributable to
noncontrolling interests and after AT1 coupon assumed dividend accruals, Contributions to the Common Equity Tier 1 ratio and the Leverage ratio are
which are allocated to segments based on their allocated average tangible measured through Risk Weighted Assets (RWA) and Leverage Ratio Exposure
shareholders’ equity. assuming full implementation of CRR/CRD 4 rules. The Group’s Capital Loss
under Stress is a measure of the Group’s overall economic risk exposure under
For the Group, it reflects the reported effective tax rate which was 160 % for a defined stress scenario.
FY 2017, 72 % for Q1 2018, 44 % for Q2 2018, 55 % for Q3 2018, (28)% for Q4
2018, 74 % for FY 2018, 31 % for Q1 2019, (233)% for Q2 2019, (21)% for Q3 Goodwill and other intangible assets are directly attributed to the Group’s
2019, (15)% for Q4 2019, (100)% for FY 2019. segments in order to allow the determination of allocated tangible
shareholders’ equity and the respective returns.
For the segments, the applied tax rate was 28 % for all quarters in 2019, 28 %
for all quarters in 2018 and 33 % for 2017. Shareholders’ equity and tangible shareholders’ equity is allocated on a
monthly basis and averaged across quarters and for the full year. 2017 has
been restated.

Adjusted costs Transformation charges

Adjusted costs is one of the key performance indicators and is a non-GAAP Transformation charges are costs, included in adjusted costs, that are directly
financial measure for which the most directly comparable IFRS financial related to Deutsche Bank’s transformation as a result of the new strategy
measure is noninterest expenses. Adjusted costs is calculated by deducting (i) announced on July 7, 2019. Such charges include the transformation-related
impairment of goodwill and other intangible assets, (ii) litigation charges, net impairment of software and real estate, legal fees related to asset disposals as
and (iii) restructuring and severance from noninterest expenses under IFRS. well as the quarterly amortization on software related to the Equities Sales and
The Group believes that a presentation of noninterest expenses excluding the Trading business and onerous contract provisions.
impact of these items provides a more meaningful depiction of the costs
Any other costs related to Deutsche Bank’s ongoing business, even if related to
associated with our operating businesses.
the Capital Release Unit (CRU), do not qualify as Transformation Charges.

Revenues excluding specific items

Adjusted profit (loss) before tax
Revenues excluding specific items is a performance indicator that is a non-
GAAP financial measure most directly comparable to the IFRS financial Adjusted profit (loss) before tax is calculated by adjusting the profit (loss) before
measure net revenues. Revenues excluding specific items is calculated by tax under IFRS for specific revenue items, transformation charges, impairments
adjusting net revenues under IFRS for specific revenue items which generally of goodwill and other intangibles, as well as restructuring and severance
fall outside the usual nature or scope of the business and are likely to distort expenses.
an accurate assessment of the divisional operating performance. Excluded
items are own credit risk related valuation effects of the group’s own debt
measured at fair value (2017 only, while with the introduction of IFRS 9 in
2018 the own credit risk component is recorded in Other Comprehensive
Income), Debt Valuation Adjustment (DVA) and material transactions or
events that are either one-off in nature or belong to a portfolio of connected
transactions or events where the P&L impact is limited to a specific period of
time. The Group believes that a presentation of net revenues excluding the
impact of these items provides a more meaningful depiction of the revenues
associated with our business.

Fully loaded CRR/CRD 4 Measures Net assets (adjusted)

Since January 1, 2014, our regulatory assets, exposures, risk-weighted assets, Net assets (adjusted) are defined as IFRS Total assets adjusted to reflect the
capital and ratios thereof are calculated for regulatory purposes under recognition of legal netting agreements, offsetting of cash collateral received
CRR/CRD4. CRR/CRD 4 provides for “transitional” (or “phase-in”) rules, under and paid and offsetting pending settlements balances. The Group believes that a
which capital instruments that are no longer eligible under the new rules are presentation of net assets (adjusted) makes comparisons to its competitors
permitted to be phased out as the new rules on regulatory adjustments are easier.
phased in, as well as regarding the risk weighting of certain categories of
assets (e.g., grandfathering of equity investments at a risk-weight of 100 %).
We also set forth in this and other documents such CRR/CRD 4 measures on a Book Value and Tangible Book Value per Basic Share Outstanding
“fully loaded” basis, reflecting full application of the rules without Book value per basic share outstanding and tangible book value per basic share
consideration of the transitional provisions under CRR/CRD 4. outstanding are non-GAAP financial measures that are used and relied upon by
For the transitional CRR/CRD 4 CET1 and RWA numbers, these transitional investors and industry analysts as capital adequacy metrics. Book value per
arrangements have been considered lastly for December 31, 2017 and expired basic share outstanding represents the Bank’s total shareholders’ equity divided
thereafter. Consequently, for periods after December 31, 2017, transitional by the number of basic shares outstanding at period-end. Tangible book value
rules have not been applied to CET1 and RWA numbers, resulting in no represents the Bank’s total shareholders’ equity less goodwill and other
difference for CET1 capital and RWA under the fully loaded or transitional intangible assets. Tangible book value per basic share outstanding is computed
regime. by dividing tangible book value by period-end basic shares outstanding.

For descriptions of these fully loaded CRR/CRD 4 measures and the

differences from the most directly comparable measures under the CRR/CRD
4 transitional rules, please refer to (i) “Management Report: Risk Report: Risk
and Capital Performance: Capital, Leverage Ratio and MREL” on pages 90
through 103 of our Annual Report 2018, in particular the subsections thereof
entitled “Development of Regulatory Capital”, “Development of Risk-
Weighted Assets” and “Leverage Ratio”, and “Supplementary Information
(Unaudited): Non-GAAP Financial Measures: Fully loaded CRR/CRD 4
Measures” on page 419 of our Annual Report 2018 and (ii) the sections “Risk
information” and “Non-GAAP financial measures” of our 1Q19 Earnings
Report, 2Q19 Interim Report and 3Q19 Earnings Report. Such sections also
provide reconciliation to the respective CRR/CRD 4 transitional or IFRS
values.

Core Bank
The Core Bank represents the Group excluding the Capital Release Unit Tier 1 capital ratio: Tier 1 capital, as a percentage of the risk-weighted assets for
(CRU). credit, market and operational risk.
Common Equity Tier 1 capital ratio: Common Equity Tier 1 capital, as a
percentage of the risk-weighted assets for credit, market and operational risk.
Cost ratios
Fully loaded CRR/CRD4 Leverage Ratio: Tier 1 capital (CRR/CRD4 fully loaded),
Cost/income ratio: Noninterest expenses as a percentage of total net as a percentage of the CRR/CRD4 leverage ratio exposure measure (fully
revenues, which are defined as net interest income before provision for credit loaded).
losses plus noninterest income.
Phase-in CRR/CRD4 Leverage Ratio: Tier 1 capital (CRR/CRD4 phase-in), as a
Compensation ratio: Compensation and benefits as a percentage of total net percentage of the CRR/CRD4 leverage ratio exposure measure (phase-in until
revenues, which are defined as net interest income before provision for credit Q4 2017, fully loaded starting Q1 2018).
losses plus noninterest income.
Net interest margin: For Group and Divisions, Net interest income (before
Noncompensation ratio: Noncompensation noninterest expenses, which are provision for credit losses) as a percentage of average total interest earnings
defined as total noninterest expenses less compensation and benefits, as a assets. Net interest margins per division are based on their contribution to the
percentage of total net revenues, which are defined as net interest income Group results. For FY 2017, numbers for the new segment composition as of the
before provision for credit losses plus noninterest income. Q3 2019 are not available on a monthly basis therefore an average balance
cannot be calculated.
Average yield on loans: Interest income on loans as a percentage of average
Other key ratios
loans at amortized cost.
Diluted earnings per share: Profit (loss) attributable to Deutsche Bank
shareholders, which is defined as profit (loss) excluding noncontrolling
interests, divided by the weighted-average number of diluted shares
outstanding. Diluted earnings per share assume the conversion into common
shares of outstanding securities or other contracts to issue common stock,
such as share options, convertible debt, unvested deferred share awards and
forward contracts.
Book value per basic share outstanding: Book value per basic share
outstanding is defined as shareholders’ equity divided by the number of basic
shares outstanding (both at period end).
Tangible book value per basic share outstanding: Tangible book value per
basic share outstanding is defined as shareholders’ equity less goodwill and
other intangible assets, divided by the number of basic shares outstanding
(both at period-end).
_________________________________________________________________________________________________________________________________________
Deutsche Bank Q4 2019 Financial Data Supplement 29
Footnotes

1. Definitions of certain financial measures are provided on pages 26-29 of this 13. Reflects front office employees and related infrastructure employees on an allocated basis.
document. 14. Segment assets represent consolidated view, i.e. the amounts do not include intersegment
2. The reconciliation of average tangible shareholders‘ equity is provided on balances (except for Central Liquidity Reserves, Shorts Coverage, Liquidity Portfolio and
pages 17-25 of this document. Repack reallocations, regarding assets consumed by other segments but managed by CB/
3. The reconciliation of adjusted costs is provided on page 3 and 7-13 of this IB).
document. 15. Contains Group-neutral reallocation of Central Liquidity Reserves to business divisions.
4. At period end. 16. Based on Profit (loss) attributable to Deutsche Bank shareholders (Post-tax).
5. Regulatory capital amounts, risk weighted assets and capital ratios are based 17. Assets under Management include assets held on behalf of customers for investment
upon CRR/CRD 4 fully-loaded. purposes and/or assets that are managed by DB. They are managed on a discretionary or
6. We calculate our leverage ratio exposure on a fully loaded basis in accordance advisory basis or are deposited with DB.
with Article 429 of the CRR as per Delegated Regulation (EU) 2015/62 of 18. Annualized management fees divided by average Assets under Management.
October 10, 2014 published in the Official Journal of the European Union on 19. IFRS 9 introduces a three stage approach to impairment for Financial Assets that are not
January 17, 2015 amending Regulation (EU) No 575/2013. credit-impaired at the date of origination or purchase. This approach is summarized as
7. For the transitional CRR/CRD 4 CET1, RWA and Leverage exposure numbers follows:
the transitional arrangements have been considered lastly for December 31, Stage 1: The Group recognizes a credit loss allowance at an amount equal to 12-month
2017 and expired thereafter, so that there is no longer any difference between expected credit losses.
transitional and fully loaded numbers for CET1 capital, RWA and CRR/CRD 4 Stage 2: The Group recognizes a credit loss allowance at an amount equal to lifetime
Leverage exposure measure. expected credit losses for those Financial Assets which are considered to have experienced
8. Earnings were adjusted by € 330 million before tax, € 292 million and € 298 a significant increase in credit risk since initial recognition.
million net of tax for the coupons paid on Additional Tier 1 Notes in April 2019, Stage 3: The Group recognizes a loss allowance at an amount equal to lifetime expected
April 2018 and April 2017, respectively. In 2019 the tax impact is recognized credit losses, reflecting a Probability of Default of 100 %, via the expected recoverable cash
in net income (loss) directly. The coupons paid on Additional Tier 1 Notes are flows for the asset, for those Financial Assets that are credit-impaired. POCI = Purchased
not attributable to Deutsche Bank shareholders and therefore need to be or Originated Credit Impaired.
deducted in the calculation in accordance with IAS 33. 20. Financial Assets at Amortized Cost consist of: Loans at Amortized Cost, Cash and central
Diluted Earnings per Common Share include the numerator effect of assumed bank balances, Interbank balances (w/o central banks), Central bank funds sold and
conversions. In case of a net loss potentially dilutive shares are not considered securities purchased under resale agreements, Securities borrowed and certain
for the earnings per share calculation, because to do so would decrease the subcategories of Other assets.
net loss per share. 21. Allowance for credit losses does not include allowance for country risk for Amortized Cost
9. Q2 2019 reflects € 491 million impairment of goodwill related to the Cash and Off-Balance Sheet positions.
Generating Unit Global Transaction Banking & Corporate Finance (GTB & CF) 22. Since Q1 2018 Goodwill and other intangible assets attributable to the partial sale of DWS
within the former Corporate & Investment Bank corporate division. are excluded.
10. Includes Additional Tier 1 Notes, which constitute unsecured and 23. Including expenses of € 102 million incurred in the fourth quarter 2019 associated with the
subordinated notes of Deutsche Bank and are classified as equity in Prime Finance platform being transferred to BNP Paribas and which are consistent with
accordance with IFRS. those eligible for reimbursement under the terms of the transfer agreement.
11. Includes net interest income and net gains (losses) on financial Reimbursement is effective from 1 December 2019 and, as a result, approximately one
assets/liabilities at fair value through profit or loss, net fee and commission third of the aforementioned quarterly cost has been recorded as reimbursable in revenues
income and remaining revenues. for the month of December.
12. Covers operations in Belgium, India, Italy and Spain.
_________________________________________________________________________________________________________________________________________
Deutsche Bank Q4 2019 Financial Data Supplement 30

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2019Q4 - DB - Financial Supplement

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2019Q4 - DB - Financial Supplement

Uploaded by

Deutsche

Financial Data Supplement Q4 2019

Risk and capital

Leverage ratio measures 16

Non-GAAP financial measures 17

Definition of certain financial measures 26

Key Financial Metrics

For footnotes please refer to page 30.

For footnotes please refer to page 30.

For footnotes please refer to page 30.

For footnotes please refer to page 30.

Balance Sheet and Resources

Performance measures and Ratios1

For footnotes please refer to page 30.

Balance Sheet and Resources

For footnotes please refer to page 30.

Balance Sheet and Resources

Performance measures and Ratios1

For footnotes please refer to page 30.

Balance Sheet and Resources

For footnotes please refer to page 30.

Balance Sheet and Resources

For footnotes please refer to page 30.

Q4 2019 vs. Q4 2019 vs. FY 2019 vs.

Balance Sheet and Resources

Performance measures and Ratios1

For footnotes please refer to page 30.

Balance Sheet and Resources

For footnotes please refer to page 30.

Fair Value through OCI Fair Value Allowan ce f or Credit Losses

Off-Balance sheet Not ion al Amoun t Allowan ce f or Credit Losses 21

Net charge-offs / Total loans (at amortized

For footnotes please refer to page 30.

Risk-weighted assets and capital adequacy ratios (fully loaded) 1,4

Regulatory capital (phase-in)4

Risk-weighted assets and capital adequacy ratios (phase-in) 1,4

For footnotes please refer to page 30.

Dec 31, 2019 vs.

For footnotes please refer to page 30.

Specific revenue items:

Adjusted profit (loss) before tax:

For footnotes please refer to page 30.

Specific revenue items:

Adjusted profit (loss) before tax:

For footnotes please refer to page 30.

Specific revenue items:

Adjusted profit (loss) before tax:

For footnotes please refer to page 30.

Specific revenue items:

Adjusted profit (loss) before tax:

For footnotes please refer to page 30.

Specific revenue items:

Adjusted profit (loss) before tax:

For footnotes please refer to page 30.

Average allocated shareholders' equity 752 (0) 0 0 0 0 0 0 0 0 0 N/M 26 % 108 %

Specific revenue items:

Adjusted profit (loss) before tax:

For footnotes please refer to page 30.

Specific revenue items:

Adjusted profit (loss) before tax:

For footnotes please refer to page 30.

Specific revenue items:

Adjusted profit (loss) before tax:

For footnotes please refer to page 30.

Earnings per share measure:

Book Value per basic share outstanding:

Tangible book value per basic share outstanding:

Net assets (adjusted) in € bn.

For footnotes please refer to page 30.

Adjusted costs Transformation charges

Revenues excluding specific items

Fully loaded CRR/CRD 4 Measures Net assets (adjusted)

For descriptions of these fully loaded CRR/CRD 4 measures and the

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