dbhsdysd sdjkg dgfshd bfksdfus d sdfhds fdushdshf ofy2014 entire

7/24/2019 Dbhsdysd sdjkg dgfshd bfksdfus d sdfhds fdushdshf ofy2014 Entire

1/388

INDEX

The Group at a glance

Information on the Deutsche Bank share

Our values

Investing in Deutsche Bank Structural Data

Clients Structural Data

Staff Structural Data

Corporate Responsibility Structural Data

!cerpt from Segment Reporting "Corporate Banking # Securities$

!cerpt from Segment Reporting "Global Transaction Banking$

!cerpt from Segment Reporting "Deutsche %sset # &ealth 'anagement$

!cerpt from segment reporting "(rivate # Business Clients$

!cerpt from segment reporting ")on*Core Operations +nit$

,inancial -ey (erformance In.icators "-(Is$ of the Group

Con.ense. Consoli.ate. Statement of Income

)et Interest Income

)et Gains "/osses$ on ,inancial %ssets0/iabilities at ,air 1alue through (rofit or /oss

)et Interest Income an. )et Gains "/osses$ on ,inancial %ssets0/iabilities at ,air 1alue through (rofit or /oss

Remaining )oninterest Income

)oninterest !penses

Segment Results of Operations 2345



Corporate Banking # Securities Corporate Division

(rivate # Business Clients Corporate Division

(rivate # Business Clients Corporate Division %..itional Information

Global Transaction Banking Corporate Division

Deutsche %sset an. &ealth 'anagement Corporate Division

Deutsche %sset an. &ealth 'anagement Corporate Division %..itional Information

)on*Core Operations +nit Corporate Division

Consoli.ation # %.7ustments

,inancial (osition

'onoline !posure relate. to +8S8 Resi.ential 'ortgages

Other 'onoline !posure

/ong*Term Cre.it Ratings

Contractual Obligations

-ey (erformance In.icators Outlook

Strategy 2349:

'ain (illar 6 Disclosures in Our ,inancial Report

Risk (rofile of Our Business Divisions as 'easure. by conomic Capital; Risk &eighte. %ssets in Comparison to (erfor

Risk (rofile of Our Business Divisions as 'easure. by conomic Capital; Risk &eighte. %ssets in Comparison to (erfor

Risk %ppetite Threshol.s for -ey 'etrics

'a!imum !posure to Cre.it Risk 2345

'a!imum !posure to Cre.it Risk 2346

Cre.it


2/388

'ain Cre.it !posure Categories by Business Divisions 2345

'ain Cre.it !posure Categories by Business Divisions 2346

'ain Cre.it !posure Categories by In.ustry Sectors 2345

'ain Cre.it !posure Categories by In.ustry Sectors 2346

'ain Cre.it !posure Categories by Geographical Region 2345

'ain Cre.it !posure Categories by Geographical Region 2346

)et Cre.it Risk !posure =ith Certain uro>one Countries Risk 'anagement 1ie=

Gross (osition; Inclu.e. +n.ra=n !posure an. )et !posure to Certain uro>one Countries Country of Domicile 1ie=

%ggregate )et Cre.it Risk to Certain uro>one Countries by Type of ,inancial Instrument 2345

%ggregate )et Cre.it Risk to Certain uro>one Countries by Type of ,inancial Instrument 2346

Cre.it Derivative !posure =ith +n.erlying %ssets Domicile. in Certain uro>one Countries 2345

Cre.it Derivative !posure =ith +n.erlying %ssets Domicile. in Certain uro>one Countries 2346

Sovereign Cre.it Risk !posure to Certain uro>one Countries

,air 1alue of Sovereign Cre.it Risk !posure to Certain uro>one Countries Classifie. as ,inancial %ssets at ,air 1alue

Sovereign Cre.it Risk !posure to Certain uro>one Countries Classifie. as ,inancial %ssets %vailable ,or Sale

/oan Book Categories Segregate. into a /o=er; 'e.ium an. ?igher Risk Bucket

Impaire. /oans an. %llo=ance for /oan /osses for Our ?igher*Risk /oan Bucket

'ain Corporate Cre.it !posure Categories %ccor.ing to Our Internal Cre.it=orthiness Categories of Our Counterparties




Consumer Cre.it !posure; Consumer /oan Delin@uencies an. )et Cre.it Costs

Consumer 'ortgage /en.ing !posure Groupe. By /oan*to*1alue Buckets

)otional %mounts an. Gross 'arket 1alues of Derivative Transactions 2345

)otional %mounts an. Gross 'arket 1alues of Derivative Transactions 2346

)otional amounts of OTC .erivatives on basis of clearing channel an. type of .erivative

(ositive 'arket 1alues or Replacement Costs of Tra.ing Derivative Transactions "unau.ite.$

)ominal 1olumes of Cre.it Derivative !posure "unau.ite.$ 2345

)ominal 1olumes of Cre.it Derivative !posure "unau.ite.$ 2346

Composition of our @uity !posure

Overvie= of (erforming; Renegotiate.; (ast Due an. Impaire. /oans by Customer Groups

)on*Impaire. (ast Due /oans at %morti>e. Cost by (ast Due Status

)on*Impaire. (ast Due /oans at %morti>e. Cost by In.ustry

)on*Impaire. (ast Due /oans at %morti>e. Cost by Region

%ggregate. 1alue of Collateral &ith the ,air 1alues of Collateral Cappe. at /oan Outstan.ings ?el. %gainst Our )on*

,orborne /oans

Impaire. /oans; %llo=ance for /oan /osses an. Coverage Ratios by Business Division

Impaire. /oans; %llo=ance for /oan /osses an. Coverage Ratios by In.ustry 2345

Impaire. /oans; %llo=ance for /oan /osses an. Coverage Ratios by In.ustry 2346

Impaire. /oans; %llo=ance ,or /oan /osses %n. Coverage Ratios By Region 2345

Impaire. /oans; %llo=ance ,or /oan /osses %n. Coverage Ratios By Region 2346

Development of Impaire. /oans

(rovision for /oan /osses an. Recoveries by In.ustry

Collateral ?el. %gainst Impaire. /oans; =ith ,air 1alues Cappe. at Transactional Outstan.ings8

Impaire. ,inancial %ssets %vailable for Sale; %ccumulate. Impairments an. Coverage RatioCollateral Obtaine. .uring the Reporting (erio.s
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3/388

Development of %llo=ance for Cre.it /osses 2345

Development of %llo=ance for Cre.it /osses 2346

%D net by mo.el approach an. business .ivision

%D gross; average %D gross an. R&% by mo.el approach an. e!posure class

%D gross by mo.el approach; e!posure class an. geographical region

%D gross by mo.el approach; e!posure class an. in.ustry

%D gross by mo.el approach; e!posure class an. resi.ual maturity

1ali.ation Results for Risk (arameters +se. in Our %.vance. IRB% 2345

1ali.ation Results for Risk (arameters +se. in Our %.vance. IRB% 2346

Comparison of !pecte. /oss stimates for /oans; Commitments an. Contingent /iabilities =ith %ctual /osses Recor.e.

Aear*to*Aear Comparison of the %ctual /oss by IRB% !posure Class

%D of %.vance. IRB% Cre.it !posures by (D Gra.e 2345

%D of %.vance. IRB% Cre.it !posures by (D Gra.e 2346

%D net for %.vance. IRB% Cre.it !posures by (D Gra.e =ith Central Governments an. Central Banks "e!clu.ing Deri

%D net for %.vance. IRB% Cre.it !posures by (D Gra.e =ith Institutions "e!clu.ing .erivatives an. S,Ts$

%D net for %.vance. IRB% Cre.it !posures by (D Gra.e =ith Corporates "e!clu.ing .erivatives an. S,Ts$

%D net; %verage /GD an. %verage (D of %.vance. IRB% Cre.it !posures by Geographical /ocation "inclu.ing .erivati

+n.ra=n Commitment !posure =ithin the %.vance. IRB% by Regulatory !posure Class

%D of @uity Investments an. Other )on*Cre.it Obligation %ssets by Risk &eight

1ali.ation Results of Risk (arameters +se. in Our ,oun.ation IRB% at (ostbank

,oun.ation IRB% !posures for ach !posure Class by Rating Scale 2345

,oun.ation IRB% !posures for ach !posure Class by Rating Scale 2346

%D )et for ,oun.ation IRB% Cre.it !posures by (D Gra.e for Central Governments an. Central Banks "e!clu.ing .eri

%D )et for ,oun.ation IRB% Cre.it !posures by (D Gra.e for Institutions "e!clu.ing .erivative positions an. S,Ts$

%D )et for ,oun.ation IRB% Cre.it !posures by (D Gra.e for Corporates "e!clu.ing .erivative positions an. S,Ts$

%D )et an. %verage (D of ,oun.ation IRB% Cre.it !posures by Geographical /ocation "inclu.ing .erivatives an. S,T

!posure for Speciali>e. /en.ing by Risk &eight

!posure 1alues in the Stan.ar.i>e. %pproach by Risk &eight

%D of CI+s of (ostbank in the Stan.ar.i>e. %pproach by Risk &eight

Collaterali>e. Counterparty Cre.it Risk !posure in the %.vance. IRB% by !posure Class

Collaterali>e. Counterparty Cre.it Risk !posure in the ,oun.ation IRB% by !posure Class 2345

Collaterali>e. Counterparty Cre.it Risk !posure in the ,oun.ation IRB% by !posure Class 2346

!posure 1alues in the Stan.ar.i>e. %pproach by !posure Class

%BC( (rogram !posures by 'a7or Con.uits

Stress ,actor 'ultiples per Rating /evel by Dominant Rating %gencies

Summary of Rating %gency Stress ,actor 'etho.ologies =ithout Define. Stress ,actor 'ultiples

Outstan.ing !posures Securiti>e. by !posure Type "Overall (ool Si>e$ =ithin the Banking Book

Outstan.ing !posures Securiti>e. by !posure Type "Overall (ool Si>e$ =ithin the Tra.ing Book

Impaire. an. (ast Due !posures Securiti>e. an. /osses Recogni>e. by !posure Type "Overall (ool Si>e$ as Originato

Outstan.ing !posures %=aiting Securiti>ation "!posure %mount$

Securiti>ation (ositions Retaine. or (urchase. by !posure Type 2345

Securiti>ation (ositions Retaine. or (urchase. by !posure Type 2346

Securiti>ation (ositions Retaine. or (urchase. by Region "!posure %mount$

Banking Book Securiti>ation (ositions Retaine. or (urchase. in the regulatory banking book by Risk &eight Ban.

Banking Book Securiti>ation (ositions Retaine. or (urchase. by Risk &eight Ban.s sub7ect to the IRB%*Rating Base. %Banking Book Securiti>ation (ositions Retaine. or (urchase. by Risk &eight Ban. sub7ect to the IRB%*Internal %ssessm


4/388

Banking Book Securiti>ation (ositions Retaine. or (urchase. by Risk &eight Ban. sub7ect to the IRB%*Supervisory ,orm

Banking Book Securiti>ation (ositions Retaine. or (urchase. by Risk &eight Ban. sub7ect to the Cre.it Risk Stan.ar.i>e

Tra.ing Book Securiti>ation (ositions Retaine. or (urchase. by Risk &eight Ban. sub7ect to the 'arket Risk Stan.ar.i>

Re*Securiti>ation (ositions Retaine. or (urchase. "!posure %mount$

Securiti>ation %ctivity Total Outstan.ing !posures Securiti>e. "i8e8; the un.erlying pools$ by !posure Type =ithin the B

Securiti>ation %ctivity Total Outstan.ing !posures Securiti>e. "i8e8; the un.erlying pools$ by !posure Type =ithin the B

Securiti>ation %ctivity Total Outstan.ing !posures Securiti>e. by !posure Type =ithin the Tra.ing Book 2345

Securiti>ation %ctivity Total Outstan.ing !posures Securiti>e. by !posure Type =ithin the Tra.ing Book 2346

Regulatory Tra.ing Book %ssets an. /iabilities as part of the Balance Sheet %ssets

Regulatory Tra.ing Book %ssets an. /iabilities as part of the Balance Sheet /iabilities

1alue*at*Risk of our Tra.ing +nits by Risk Type

1alue*at*Risk of our Tra.ing +nits in the Reporting (erio.

Stresse. 1alue*at*Risk by Risk Type

%verage; 'a!imum an. 'inimum Stresse. 1alue*at*Risk by Risk Type

Incremental Risk Charge of Tra.ing +nits "=ith a 8 E confi.ence level an. one*year capital hori>on$

%verage; 'a!imum an. 'inimum Incremental Risk Charge of Tra.ing +nits "=ith a 8 E confi.ence level an. one*year

Comprehensive Risk 'easure of Tra.ing +nits "=ith a 8 E confi.ence level an. one*year capital hori>on$

%verage; 'a!imum an. 'inimum Comprehensive Risk 'easure of Tra.ing +nits "=ith a 8 E confi.ence level an. one

%verage; 'a!imum an. 'inimum 1alue*at*Risk of (ostbank Tra.ing Book

conomic Capital +sage of )ontra.ing (ortfolios by Business Division

Carrying 1alue an. conomic Capital +sage for )ontra.ing (ortfolios

@uity Investments %ccor.ing to I,RS Classification

Reali>e. Gains "/osses$ in the Reporting (erio. an. +nreali>e. Gains "/osses$ at Aear*en. from @uity Investments

Operational Risk /osses by vent Type "(rofit an. /oss vie=$

conomic Capital +sage for Operational Risk by Business Division

'aturity of +nsecure. &holesale ,un.ing; %BC( an. Capital 'arkets Issuance 2345

'aturity of +nsecure. &holesale ,un.ing; %BC( an. Capital 'arkets Issuance 2346

+nsecure. &holesale ,un.ing; %BC( an. Capital 'arkets Issuance "currency break.o=n$

Composition of Our ,reely Transferable /[email protected] Reserves by (arent Company "inclu.ing branches$ an. Subsi.iaries

Global %ll Currency 'onthly Stress Testing Results

Global +SD 'onthly Stress Testing Results

%..itional Contractual Obligations

ncumbere. an. +nencumbere. %ssets On*Balance Sheet

ncumbere. an. +nencumbere. %ssets Off*Balance Sheet

Total amount of encumbere. on* an. off*balance sheet assets against the correspon.ing liabilities; contingent liabilities or

%nalysis of the arliest Contractual 'aturity of %ssets 2345

%nalysis of the arliest Contractual 'aturity of %ssets 2346

%nalysis of the arliest Contractual 'aturity of /iabilities 2345

%nalysis of the arliest Contractual 'aturity of /iabilities 2346

Overvie= of Regulatory Capital; R&% an. Capital Ratios accor.ing to CRR0CRD 5 e!clu.ing year*en. profits an. Basel 2

Overvie= of Regulatory Capital; R&% an. Capital Ratios accor.ing to CRR0CRD 5 an. Basel 289 "au.ite.$

Overvie= of Regulatory Capital; R&% an. Capital Ratios accor.ing to pro forma CRR0CRD 5 "unau.ite.$

Reconciliation of Consoli.ate. Balance Sheet accor.ing to I,RS to regulatory Balance Sheet "unau.ite.$

Transitional Template for Regulatory Capital; R&% an. Capital Ratios accor.ing to (ro ,orma CRR0CRD 5 "unau.ite.$ an

Development of Regulatory CapitalReconciliation of Sharehol.ersF @uity to Regulatory Capital


5/388

Risk*=eighte. %ssets by 'o.el %pproach an. Business Division 2345

Risk*=eighte. %ssets by 'o.el %pproach an. Business Division 2346

Regulatory Capital Re@uirements an. Risk*=eighte. %ssets

Development of Risk*=eighte. %ssets for Cre.it Risk

Development of Risk*=eighte. %ssets for Cre.it 1aluation %.7ustment

Development of Risk*=eighte. %ssets for 'arket Risk

Development of Risk*=eighte. %ssets for Operational Risk

Summary Reconciliation of %ccounting %ssets an. /everage Ratio !posures

/everage Ratio Common Disclosure

Break.o=n of On*Balance Sheet !posures "e!clu.ing .erivatives an. S,Ts$

Overall Risk (osition as 'easure. by conomic Capital +sage

Internal Capital %.e@uacy

2345 .eferre. compensation a=ar.s forfeiture provisions

Compensation by Group Divisions

%llocation of Infrastructure relate. Compensation an. )umber of mployees %ccor.ing to Our stablishe. Cost %llocation

Remuneration of ?igh arners

Base Salaries of the 'anagement Boar. 'embers

Contributions to the Company (ension (lan

The Target an. 'a!imum 1alues %pplicable to the %(% for the Boar.

Compensation Culture # Client ,actor

'a!imum Compensation

Divi.en. @uivalent ,ormula

'anagement Boar. Compensation Total

'anagement Boar. Compensation Grante. in 2345 "2346$ accor.ing to GCGC Hrgen ,itschen

'anagement Boar. Compensation Grante. in 2345 "2346$ accor.ing to GCGC %nshuman Hain

'anagement Boar. Compensation Grante. in 2345 "2346$ accor.ing to GCGC Stefan -rause

'anagement Boar. Compensation Grante. in 2345 "2346$ accor.ing to GCGC Dr8 Stephan /eithner

'anagement Boar. Compensation Grante. in 2345 "2346$ accor.ing to GCGC Stuart /e=is

'anagement Boar. Compensation Grante. in 2345 "2346$ accor.ing to GCGC Rainer )eske

'anagement Boar. Compensation Grante. in 2345 "2346$ accor.ing to GCGC ?enry Ritchotte

'anagement Boar. Compensation Disbursals pai. out in 2345 "2346$ accor.ing to GCGC

'anagement Boar. Compensation %ccor.ing to G%S 4J

'anagement Boar. Compensation )umber of Share %=ar.s Grante.

'anagement Boar. Compensation (ension an. transitional benefits

'anagement Boar. Compensation !pense for /ong*Term Incentive Components

'anagement Boar. Share O=nership

)umber of Share %=ar.s ?el. by the 'anagement Boar.

Supervisory Boar. Compensation Committees

Supervisory Boar. Compensation

Supervisory Boar. )umber of )otional Shares for 'embers

mployees by Regions

'anagement Boar. (o=ers Increasing the Share Capital

'anagement Boar. (o=ers (articipatory )otes

Consoli.ate. Statement of Income

arnings per ShareConsoli.ate. Statement of Comprehensive Income


6/388

Consoli.ate. Balance Sheet

Consoli.ate. Statement of Changes in @uity

Consoli.ate. Statement of Cash ,lo=s

Retrospective a.7ustments to restate interest income an. e!pense

,air 1alue of %ssets %c@uire. an. /iabilities %ssume. as of the %c@uisition Date

%ggregate. ffect of Changes in the GroupFs O=nership Interests

Dispositions

)et Revenues by Geographic %rea

)et Interest Income

)et Gains "/osses$ on ,inancial %ssets0/iabilities at ,air 1alue through (rofit or /oss

Combine. )et Interest Income an. )et Gains "/osses$ on ,inancial %ssets0/iabilities at ,air 1alue Through (rofit or /oss

Commissions an. ,ee Income

)et Gains "/osses$ on ,inancial %ssets %vailable for Sale

Other Income

General an. %.ministrative !penses

Restructuring !pense by Business Divisions

Restructuring !pense

Restructuring Staff

Computation of Basic an. Dilute. arnings per Share

arnings per Share

Instruments Outstan.ing an. not inclu.e. in the Calculation of Dilute. arnings per Share

,inancial %ssets at ,air 1alue through (rofit or /oss

,inancial /iabilities at ,air 1alue through (rofit or /oss

Changes in ,air 1alue of /oans an. /oan Commitments attributable to 'ovements in Counterparty Cre.it Risk

Changes in ,air 1alue of ,inancial /iabilities attributable to 'ovements in the GroupFs Cre.it Risk

The !cess of the Contractual %mount Repayable at 'aturity over the Carrying 1alue of ,inancial /iabilities

Reclassifie. ,inancial %ssets

Carrying 1alues an. ,air 1alues by %sset Type of %ssets Reclassifie. in 233K an. 233

+nreali>e. ,air 1alue Gains "/osses$ That &oul. ?ave Been Recogni>e. in (rofit or /oss an. )et Gains "/osses$ That

(re*Ta! Contribution of %ll Reclassifie. %ssets to the Income Statement

Carrying 1alues an. ,air 1alues by %sset Class Reclassifie. in 233K an. 233

Carrying 1alue of the ,inancial Instruments ?el. at ,air 1alue

Reconciliation of ,inancial Instruments Classifie. in /evel 6 2345

Reconciliation of ,inancial Instruments Classifie. in /evel 6 2346

Break.o=n of the Sensitivity %nalysis by Type of Instrument 2345

,inancial Instruments Classifie. in /evel 6 an.


7/388

Significant Investees as of December 64; 2345

Summari>e. ,inancial Information on ?ua Lia Bank Company /imite.

Reconciliation of Total )et %ssets to The GroupFs Carrying %mount

%ggregate. ,inancial Information on the GroupFs Share in %ssociates an. Hoint 1entures that are In.ivi.ually Immaterial

Offsetting ,inancial %ssets 2345

Offsetting ,inancial /iabilities 2345

Offsetting ,inancial %ssets 2346

Offsetting ,inancial /iabilities 2346

/oans by In.ustry Classification

Break.o=n of the 'ovements in the GroupFs %llo=ance for /oan /osses

%ctivity in the GroupFs %llo=ance for Off*Balance Sheet (ositions "Contingent /iabilities %n. /en.ing Commitments$

Information on %sset Types an. %ssociate. Transactions that Di. not

Carrying 1alue of the GroupFs %ssets (le.ge. as Collateral for /iabilities or Contingent /iabilities

Total %ssets (le.ge. to Cre.itors %vailable for Sale or Reple.ge

,air 1alue of Collateral Receive.

(roperty an. @uipment

)et Carrying 1alue of /easing %ssets ?el. un.er ,inance /eases

,uture 'inimum /ease (ayments Re@uire. un.er the GroupFs ,inance /eases

,uture 'inimum /ease (ayments Re@uire. un.er the GroupFs Operating /eases

Goo.=ill %llocate. to Cash*Generating +nits

(rimary Cash*Generating +nits

(rimary Cash Generating +nit Description of -ey %ssumptions

Change in Certain -ey %ssumptions to Cause the Recoverable to @ual the Carrying %mount

Changes of Other Intangible %ssets

+seful /ives of Other %morti>e. Intangible %ssets by %sset Class

)on*Current %ssets an. Disposal Groups ?el. for Sale

Disposals in 2345

)on*Current %ssets an. Disposal Groups ?el. for Sale as of December 64; 2346

Disposals in 2346

Other %ssets

Other /iabilities

Deposits

'ovements by Class of (rovisions

Irrevocable /en.ing Commitments an. /en.ing Relate. Contingent /iabilities

Other Short*Term Borro=ings

/ong*Term Debt by arliest Contractual 'aturity

Trust (referre. Securities

'aturity %nalysis of the arliest Contractual +n.iscounte. Cash ,lo=s of ,inancial /iabilities 2345

'aturity %nalysis of the arliest Contractual +n.iscounte. Cash ,lo=s of ,inancial /iabilities 2346

Common Shares

%uthori>e. CapitalCon.itional Capital


8/388

Divi.en.s

Share*Base. Compensation (lans

%ctivity for Share (lans

Benefit (lans 'aturity of the GroupFs Obligations 2345

Benefit (lans 'aturity of the GroupFs Obligations 2346

!pecte. Benefit (ayments

Benefit (lans %ctuarial 'etho.ology an. %ssumptions

Benefit (lans Reconciliation in 'ovement of /iabilities an. %ssets Impact on ,inancial Statements 2345

Benefit (lans Reconciliation in 'ovement of /iabilities an. %ssets Impact on ,inancial Statements 2346

%sset %llocation of the GroupFs ,un.e. Define. Benefit (lans

%sset %llocation of the GroupFs ,un.e. Define. Benefit (lans Break.o=n

%sset %llocation of the GroupFs ,un.e. Define. Benefit (lans by -ey Geography 2345

%sset %llocation of the GroupFs ,un.e. Define. Benefit (lans by -ey Geography 2346

Benefit (lans Sensitivity to -ey %ssumptions

!pecte. Cash ,lo=s

Benefit (lans !pense mployee Benefits

Income Ta!es

Difference bet=een %pplying German Statutory "Domestic$ Income Ta! Rate an. %ctual Income Ta! !pense

Income Ta!es Charge. or Cre.ite. to @uity "Other Comprehensive Income0%..itional (ai. in Capital$

'a7or Components of the GroupFs Gross Deferre. Income Ta! %ssets an. /iabilities

Deferre. Ta! %ssets an. /iabilities; after Offsetting

Items for &hich no Deferre. Ta! %ssets &ere Recogni>e.

Derivatives ?el. as ,air 1alue ?e.ges

Derivatives ?el. as Cash ,lo= ?e.ges

(erio.s &hen ?e.ge. Cash ,lo=s are !pecte. to Occur an. &hen They %re !pecte. to %ffect the Income Statement

Cash ,lo= ?e.ge Balances

Derivatives ?el. as )et Investment ?e.ges

Compensation !pense of -ey 'anagement (ersonnel

/oans

Deposits

Transactions =ith Relate. (arty (ension (lans

Restricte. %ssets

Carrying %mounts an. Si>e Relating to Deutsche BankFs Interests 2345

Carrying %mounts an. Si>e Relating to Deutsche BankFs Interests 2346

/iabilities %rising from Insurance an. Investment Contracts

Change in Insurance an. Investment Contracts

Sensitivity of Insurance Contract /iability Calculations

%sset Items as of December 64; 2345

/iability Items as of December 64; 2345

%sset Items as of December 64; 2346

/iability Items as of December 64; 2346

Staff Costs

Break.o=n of the ,ees Charge. by the GroupFs %u.itor

Country by Country Reporting

Supervisory Boar. 'embers (articipation in the 'eetings of the Supervisory Boar. an. Their Respective CommitteesSupervisory Boar. 'emberships


9/388

Supervisory Boar. Share O=nership

(rincipal %ccounting ,ees an. Services

Group ,ive*Aear Recor.
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10/388

Deutsche Bank Annual Report 2014

The Group at a glance2345 2346

M 258 M 6683J

M 6K849 M 6N85M 228NN M 2K839

M 4865 M 38N5

M 4864 M 38N2

4;252 4;359

4;2N 4;3J6

(re*ta! return on average sharehol.ersF e@uity 983 E 28N E

(re*ta! return on average active e@uity 984 E 28N E

(ost*ta! return on average sharehol.ersF e@uity 28J E 482 E

(ost*ta! return on average active e@uity 28J E 482 E

KN8J E K83 E

682 E 6K8N E

5J89 E 9386 Ein M m8

Total net revenues 64;5 64;49

(rovision for cre.it losses 4;465 2;3N9

Total noninterest e!penses 2J;N 2K;65

Income before income ta!es 6;44N 4;59N

)et income 4;N4 NK4

Total assets 4;J3 4;N44

Total Sharehol.ersF e@uity NK85 958J

Book value per basic share outstan.ing M 5862

Tangible book value per basic share outstan.ing M 6K896

4982 E 428K E448J E 428K E

4N84 E 4N8 E

428 E 4N8 E)umber

Branches 2;K45 2;3J

thereof in Germany 4;K59 4;25

mployees "full*time e@uivalent$ K;46K K;295

thereof in Germany 59;62 5N;6JJ

/ong*term rating

'oo.yFs Investors Service %6 %2

Stan.ar. # (oorFs % %

,itch Ratings %: %:

2 %ll perio.s have been a.7uste. in or.er to reflect the effect of the bonus component of subscription rights issue. in Hune 2345 in connection =ith the capital increase8

6 Total noninterest e!penses as a percentage of total net interest income before provision for cre.it losses plus noninterest income8

5 Compensation an. benefits as a percentage of total net interest income before provision for cre.it losses plus noninterest income8

Share price at perio. en.4

Share price high4

Share price lo=4

Basic earnings per share2

Dilute. earnings per share2

%verage shares outstan.ing; in m8; basic2

%verage shares outstan.ing; in m8; .ilute.2

Cost0income ratio6

Compensation ratio5

)oncompensation ratio9

Dec 64; 2345in M bn8

Dec 64; 2346in M bn8

M 938K32

M 6J8KJ2

Common @uity Tier 4 capital ratio "CRR0CRD 5$N

Common @uity Tier 4 capital ratio "CRR0CRD 5 fully loa.e.$N

Tier 4 capital ratio "CRR0CRD 5$N

Tier 4 capital ratio "CRR0CRD 5 fully loa.e.$N

4 To reflect the capital increase 2345; the historical share prices until an. inclu.ing Hune 9; 2345 "last tra.ing .ay cum rights$ have been a.7uste. =ith retroactiveeffect by multiplication =ith the correcting factor of 3896K "R*,actor$8

9 )oncompensation noninterest e!penses; =hich are .efine. as total noninterest e!penses less compensation an. benefits; as a percentage of total net interestincome before provision for cre.it losses plus noninterest income8

N ,igures presente. for 2345 are base. on the transitional rules "CRR0CRD 5$ an. the full application "CRR0CRD 5 fully loa.e.$ of the CRR0CRD 5 frame=ork8,igures presente. for 2346 are base. on Basel 2898 The capital ratios relate the respective capital to risk*=eighte. assets8 +ntil 2346 transitional items pursuant tothe former Section N5h "6$ of the German Banking %ct are e!clu.e.8

Due to roun.ing; numbers presente. throughout this .ocument may not a.. up precisely to the totals provi.e. an. percentages may not precisely reflect the absolutefigures8

The calculation of the regulatory capital numbers an. ratios presente. in this report inclu.e the proposal of the 'anagement Boar. to the Supervisory Boar. an.%nnual General 'eeting of a .ivi.en. payment of M 38J9 per share8


11/388


Information on the Deutsche Bank share

2345

Share in e@uities tra.ing "Letra$

K82 million shares

Share price high

Share price lo=

Divi.en. per share

%s of December 64; 2345Issue. shares 4;6J;2J6;464

Outstan.ing shares 4;6J;342;5

Share capital 6;963;6;24986N M

'arket capitali>ation

&eighting in the D%L

&eighting in the uro STOLL 93

Securities i.entification co.esDeutsche Brse )e= Aork Stock !change

Type of issue Registere. share Type of issue Global Registere. Share

Symbol DB- Currency +8S8P

&-) 945333 Symbol DB

ISI) D333945333K CI)S

Reuters DB-Gn8 D Bloomberg DB- GR4 Share price base. on Letra

6 Letra closing price

Change in total return4 "2285N E$82J E

%verage .aily tra.ing volume4

M 6K849

M 228NN

M 38J92

M 6585N billion

Share price6 M 258

689K E

4856 E

D 4K43KK

2 (roposal for the %nnual General 'eeting on 'ay 24; 2349


12/388


Our valuesIntegrity Client Centricity Innovation Discipline (artnership

Our beliefs

Sustainable

(erformance

&e live by the higheststan.ar.s of integrity ineverything =e say an. .o

&e .rive value forsharehol.ers by putting long*term success over short*termgain

&e earn our clientsF trust byplacing them at the core ofour organi>ation

&e foster innovation byvaluing intellectual curiosityin our people

&e protect the firmFsresources by al=ays thinkingan. acting like o=ners

&e buil. .iverse teamgenerate better i.easreach more balance..ecisions

&e =ill .o =hat is right not7ust =hat is allo=e.

&e encourageentrepreneurial spirit =hichresponsibly balances risksan. returns

&e .eliver true value byun.erstan.ing an. servingour clientsF nee.s best

&e enable our clientsFsuccess by constantlyseeking suitable solutions totheir problems

&e live by the rules an. hol.ourselves accountable to.eliver on our promises noe!cuses

&e put the common the firm before silo by trusting; respectin=orking =ith each oth

&e communicate openlyQ =einvite; provi.e an. respectchallenging vie=s

&e pursue lastingperformance by .eveloping;nurturing an. investing in the

best talent; an. by managingbase. on merit

&e strive to pursue mutuallybeneficial client relationshipsin =hich the value create. is

share. fairly

&e continuously improve ourprocesses an. platforms byembracing ne= an. better

=ays of .oing things

&e achieve operationale!cellence by striving to getit right the first time

&e act as responsiblpartners =ith all ourstakehol.ers an. reg

an. in serving the =i.interests of society


13/388

Deutsche Bank Annual Report 2014Investing in Deutsche Bank Structural Data

Structural Data2345 2346 2342

)umber of sharehol.ers 9;263 9NN;J N43;N5

Sharehol.ers by typeInstitutional "inclu.ing banks$ K3 J J9

(rivate 23 24 29

Regional break.o=n Germany 9J 93 59

uropean +nion "e!clu.ing Germany$ 24 2N 66

S=it>erlan. J N N

+S% 46 49 46

Other 5 5 2

-ey ,igures2345 2346 2342

J89 E 4983 E

K84 N82 J8N

38J9 38J9

Special (ro7ectsCapital increase from authori>e. capital

4 ,igures roun.e.

2 Share price base. on Letra

6 Or.er book statistics "Letra$

in E of share capital4

in E of share capital4

Change in total return of Deutsche Bank share2 "2289 E$

%verage .aily tra.ing volume "in million shares$6

Divi.en. per share for the financial year "in M$ 38J95

T=o issuances raise. gross procee.s amounting to M K89 billion 98 million shares =ith avalue of M 48J9 billion =ere place. =ith an anchor investor; (aramount Service ?ol.ings/t.8 28K million ne= registere. common shares =ith a value of M N8J9 billion =ere issue.at a subscription price of M 22893 per share8

%..itional Tier 4 capital issue. In 2345; M 58J billion in %..itional Tier 4 capital =as raise. through t=o issues of un.ate.notes8

5 (roposal for the %nnual General 'eeting on 'ay 24; 2349


14/388

Deutsche Bank Annual Report 2014lients


)umber of clients "roun.e.$

Corporate Banking # Securities 4K;233 23;233 24;533Global Transaction Banking N2;N33 NJ;233

Deutsche %sset # &ealth 'anagement2;625;333 2;5N4;333 2;64N;333

thereof in cooperation N59;333 N25;333 992;333

N;533 N;533 N;533

95;K33 N9;J33 J4;633

(rivate # Business Clients 2J;5J6;333 2J;5;333 2K;54;333

thereof Deutsche (ostbank %G 46;JN4;333 46;9;333 45;34K;333

-ey ,igures2345 2346 2342

Corporate Banking # Securities Risk %=ar.s; number of a=ar.s =on 2 6 6

4K 4 2N

9 N 9

Green=ich Global ,i!e. Income survey 4 4 4

Green=ich ,oreign !change survey 4 4 4

Global Transaction Banking 284 48K 48N

J984 J38N N482/ocations incl8 representative offices 5 5J 5N

4J 44 46

Deutsche %sset # &ealth 'anagement Deutsche %&'

N5 9N JJ

Investe. assets "in M billion$ 4;36 26 23

thereof ultra high net =orth clients 254 234 4K3

(rivate # Business Clients 4;44 4;469 JK9

N89 28K "482$

424 44K 446

Special (ro7ects

Corporate Banking # Securities

Global Transaction Banking

Deutsche %sset # &ealth 'anagement

(rivate # Business Clients

4 The re.uction is attributable to the realignment of activities in the )etherlan.s

2 Inclu.ing (assive Investors

6 )umber of re lationships e!clu.ing (rivate Client Services "+S%$; inclu.ing Sal8 Oppenheim

5 The %ssetFs Triple % Investor; ,un. 'anagement an. %sset Servicing a=ar.s

5J;5334

Retail %sset 'anagement"Germany0/u!embourg$

Institutional %sset 'anagement2

&ealth 'anagement6

uromoney %=ar.s for !cellence; number of

a=ar.s =onDealogic global Corporate ,inancemarket share

%ssets un.er custo.y "in M trillion$

Documentary tra.e business "in M billion$

%=ar.s for securities business in %sia5

)umber of fun. performance a=ar.sin urope

)umber of app .o=nloa.s "in thousan.s$

)et )e= %ssets "Investment (ro.ucts #Insurance$ "in M billion$

Client Business 1olume 'ortgages "in M billion$

Strategic %gen.a a set of 23 strategic initiatives to further recalibrate CB#S spanningculture; clients; revenue gro=th; resource efficiency; operational alignment an. inter*.ivisional cooperation8

T%RGT2*Securities "T2S$ solution that enables clients to capitali>e on the ne= singlesecurities settlement market infrastructure across urope8933 &orking Capital training sessions in Tra.e ,inance0Cash 'anagement Corporates to.eliver better &orking capital solutions to clients8

(latform upgra.es ,irst implementation of BlackRock SolutionsF %la..in platform inGermany an. S=it>erlan.Q Global investment operating environment =ill be re*platforme.=ithin 23498 +pgra.e of %valo@ =ealth management platform in S=it>erlan.8(hysical T, replication Recalibrate. uropean !change Tra.e. ,un.s suite fromsynthetic to physical replication; resulting in more than M 9 billion net ne= asset gro=th8

(BC Banking Services =as establishe. by combining previously separate. service unitsof (rivate # Commercial Banking an. (ostbank at 45 .ifferent locations un.er one roof8Digitali>ation is a key strategic priority8 Deutsche Bank allocate. M 233 million to (BC forthe e!pansion of .igital services over a perio. of three years8


15/388

Deutsche Bank Annual Report 2014Sta!!


K;46K K;295 K;24

Divisions (rivate # Business Clients 6K8K E 6K8N E 6K8N E

Corporate Banking # Securities K85 E K89 E K8J E

Deutsche %sset # &ealth 'anagement N84 E N82 E N8N E

Global Transaction Banking 582 E 582 E 585 E

)on*Core Operations +nit 386 E 48N E 48J E

Infrastructure0Regional 'anagement 5282 E 538 E 5383 E

Germany 5N86 E 5J82 E 5J84 E

2689 E 268N E 2582 E

%mericas 438K E 4389 E 4389 E

%sia (acific 485 E 4K8J E 4K82 E

+niversity .egree N683 E N582 E N583 E

?igh school certificate 486 E 4J85 E 4J85 E

Other school .egrees 4J8J E 4K85 E 4K8N ETotal female staff 548J E 548J E 548J E

,emale 'anaging Directors an. Directors 485 E 4K8J E 4K83 E

648J E 6484 E 638K E

up to 2 years 4K8K E 4K8 E 48K E

63 6 years 286 E 282 E 285 E

53 5 years 28N E 638N E 638K E

over 5 years 2286 E 2486 E 2383 E

up to 5 years 668K E 6682 E 658 E

9 45 years 286 E 638J E 6383 E

over 45 years 6N8 E 6N84 E 6984 E

-ey ,igures

2345 2346 2342 J6 E

1oluntary staff turnover rate N85 E N82 E

K2 KN 43

5N 95

Special (ro7ects

Increase. Internal 'obility

4 Staff "full time e@uivalent$ total hea.count a.7uste. proportionately for part*time staff; e!clu.ing apprentices an. interns

6 )umber of staff "hea.count$

5 !clu.ing primarily (ostbank; Sal Oppenheim; B?,*B%)- "sol. in 2345$ an. DB Investment Services

9 !clu.ing legal entities outsi.e of DB Corporate Title system primarily (ostbank; Sal Oppenheim; B?,*B%)- "sol. in 2345$ an. DB Investment Services8

N mployees =ith corporate titles 'anaging Directors; Directors; 1ice (resi.ents; %ssistant 1ice (resi.ents an. %ssociates

J 2345 inclu.ing (ostbank for the first timeQ survey not con.ucte. in 2346

Staff "full*time e@uivalents$

4

Regions2

urope "e!clu.ing Germany$; 'i..le astan. %frica


16/388

Deutsche Bank Annual Report 2014orporate Responsi"ilit#


)umber of countries in =hich Deutsche Bank operates J4 J4 J2

-ey ,igures2345 2346 2342

Sustainability Ratings Carbon Disclosure (ro7ect "Ban. % to $

O-O' Research "on a scale from %: to D$ C0(rime C0(rime C0(rime

RobecoS%' "Scale from 4 to 433$ J3 J2 JK

Sustainalytics "Scale from 4 to 433$ N2 9 N9

N5 E 94 E 5 E

K389 JK82 K28J

Responsible business

985 984 68J

48J9 48NJ 485

Sustainable operations

Rene=able energy use. "in E of total$ J E NJ E

2J;636 63N;2NK 65N;K6

(eople an. society

29 E 25 E

(articipants in e.ucation0Born to Be pro7ects 4;4NK;46 544;424 4;622;32N

Beneficiaries of social pro7ects 4;96;4JJ 56;N69 J43;KK

Special (ro7ects

conomy

cology

(eople an. Society

20Ban. B 40Ban. % 30Ban. %

!ternal perception of Deutsche Bank as aresponsible corporate citi>en "global B2Bmarket$

Total Corporate Citi>enship investments "in M million$

%ssets un.er management in sustainability*oriente. fun.s "in M billion$

stimate. cumulative financing to micro*borro=ers since 4J "in +SP billion$

JJ E

)et greenhouse gas emissions4"in t CO2$

mployees participating in Deutsche BankFs corporate volunteering programs "in E of totalstaff; e!clu.ing (ostbank$ 24 E

Development of a proprietary soft=are solution that allo=s us to filter more than 4;933 .atasets on the SG practices of more than 9;333 companies8

Development of a clear position on activities in or near +)SCO &orl. ?eritage Sites8'aintaine. carbon neutrality for all operating activities through purchasing an. retire.1erifie. misssions +nits8Deutsche Bank =as the book runner for multiple green bon.s8

1alues an. beliefs =ere embe..e. in all people processes throughout an employeeFscareer lifecycle8Global roll*out of Born to Be; the youth engagement program of Deutsche Bank an.its foun.ations8%lmost 4J;333 employees "24E of global staff$ volunteere. over 43;333 hours for socialpro7ects8

4 )et greenhouse gas emissions inclu.e rene=able energy sources an. rene=able energy certificates8 ,ully offset by high @uality carbon cre.its since 23428


17/388


in M m8 2345 2346

)et revenues 46;J52 46;92N

Total provision for cre.it losses 436 4K

)oninterest e!penses 43;65K 43;4N2

Income before income ta!es $%2&& 6;49K

Return on e@uity "pre*ta!$ in E 46 4N

Risk*=eighte. assets 4J9;9N4 445;J2

%ssets 4;246;N42 4;432;33J

!cerpt from segment reporting "Corporate Banking # Securities 4$

Corporate Banking # Securities recor.e. income before income ta!es of M 686 billion in 2345;compare. to M 682 billion in the prior year; .riven by soli. revenue performance reflecting increase.volatility notably in the secon. half of 2345; an. lo=er litigation costs; partly offset by higher regulatory

costs*to*achieve for the Operational !cellence program8

4 !cerpt from segment reporting8 ,or notes an. other .etaile. information; see ,inancial Report 2345 "'anagement Report$8 Regulatory capital amounts an. risk =eighte.assets are base. upon Basel 289 rules through Dec 64; 2346 an. upon CRR0CRD 5 ful lyloa.e. since Han 4; 23458


18/388


in M m8 2345 2346

)et revenues ;N6 ;993

Total provision for cre.it losses N22 J4

)oninterest e!penses J;NK2 J;2JN

Income before income ta!es 1%$$' 4;999

Return on e@uity "pre*ta!$ in E 44

Risk*=eighte. assets J;9J4 J6;334%ssets 29K;6K4 2N9;6N3

!cerpt from segment reporting "(rivate # Business Clients4$

(rivate # Business Clients recor.e. income before income ta!es of M 486 billion in 2345; compare. toM 48N billion in the prior year8 The .ecrease =as mainly .ue to significant non*recurring charges forloan processing fees recor.e. in noninterest e!penses triggere. by t=o rulings of the German

,e.eral Court of Hustice in 'ay an. October 23458 )et revenues increase. mainly reflecting highertransaction levels an. net asset inflo=s in investment an. insurance pro.ucts8 (rovision for cre.itlosses benefitte. from a favorable environment in Germany8 Investe. assets increase. by M billionversus December 64; 2346; .ue to M N billion in net inflo=s; mainly in securities; an. marketappreciation8

4 !cerpt from segment reporting8 ,or notes an. other .etaile. information; see ,inancial Report 2345 "'anagement Report$8 Regulatory capital amounts an. risk =eighte.assets are base. upon Basel 289 rules through Dec 64; 2346 an. upon CRR0CRD 5 fullyloa.e. since Han 4; 23458


19/388


in M m8 2345 2346

)et revenues 5;45N 5;3N

Total provision for cre.it losses 49N 649

)oninterest e!penses 2;J4 2;N5K

Income before income ta!es 1%1() 4;43J

Return on e@uity "pre*ta!$ in E 23 22

Risk*=eighte. assets 56;2N9 6N;K44

%ssets 43N;292 J;253

!cerpt from segment reporting "Global Transaction Banking 4$

Global Transaction Banking recor.e. income before income ta!es of M482 billion in 2345; compare.to M484 billion in the prior year; .ue to higher revenues an. lo=er provision for cre.it losses follo=ing asingle client cre.it event in 23468 This =as partly offset by an increase. cost base8



20/388


in M m8 2345 2346

)et revenues 5;J3K 5;J69

Total provision for cre.it losses "J$ 26

)oninterest e!penses 6;NK9 6;2

Income before income ta!es 1%02* JK2

Return on e@uity "pre*ta!$ in E 4N 46

Risk*=eighte. assets 4N;9J 42;996

%ssets K4;462 J2;N46

!cerpt from segment reporting "Deutsche %sset # &ealth 'anagement4$

Deutsche %sset # &ealth 'anagement recor.e. income before income ta!es of M 483 billion in 2345; compare. to M JK2 million in the prioryear8 Revenues =ere lo=er in 2345 .riven by marke.*to*market movements on policyhol.er positions in %bbey /ife =hich are largely offset innoninterest e!penses8 (rovision for cre.it losses .ecrease. mainly resulting from lo=er specific client*relate. len.ing provisions an. the

recovery of prior charges in 23458 Investe. assets in Deutsche %&' increase. by M 44N billion; mainly .riven by foreign currency movementsof M 93 billion; market appreciation of M 56 billion an. inflo=s of M 53 billion8 The increase =as mitigate. by .ivesting non*core business assetsfrom the Deutsche %&' portfolio; resulting in M 24 billion =orth of assets un.er management leaving the platform8



21/388


in M m8 2345 2346

)et revenues 244 N5

Total provision for cre.it losses 29 K4K

)oninterest e!penses 2;K35 6;993

Income before income ta!es +2%)'1, "6;532$

Risk*=eighte. assets 9K;96K 92;556

%ssets 6K;K96 N6;K43

!cerpt from segment reporting ")on*Core Operations +nit4$

The )on*Core Operations +nit recor.e. a loss before income ta!es of M 28 billion in 2345; compare. to M 685 billion in the prior year8 The.ecrease =as mainly .ue to lo=er revenues an. lo=er cre.it losses reflecting the progress of .e*risking8 )oninterest e!penses =ere lo=er butcontinue. to be impacte. by the nature an. timing of specific items8 )oninterest e!penses .ecrease. pre.ominately .ue to lo=er litigation*

relate. e!penses as =ell as the benefit seen from e!ecution of the bankFs .e*risking strategy8



22/388

Deutsche Bank Annual Report 2014-inancial .e# /er!orance Inicators +./Is, o! the roup

Group -ey (erformance In.icators Status en. of 2345 Status en. of 2346

28J E 482 E

J84 E J8J EKN8J E K83 E

J585 E J289 E

M 686 bn M 284 bn

M 28 bn M 48K bn

448J E 8J E

689 E

4 Base. on )et Income attributable to Deutsche Bank sharehol.ers8

6 Total noninterest e!penses as a percentage of total net interest income before provision for cre.it losses plus noninterest income8

9 Cost savings resulting from the implementation of the Op! program8

N Costs*to*achieve "Ct%$ savings are costs =hich are .irectly re@uire. for the realisation of savings in the Op! program8

K ,urther .etail on the calculation of this ratio is provi.e. in the Risk Report8

Does not take into account recent revisions to the leverage e!posure calculation un.er CRR0CRD 58

(ost*ta! return on average active e@uity "reporte.$4

(ost*ta! return on average active e@uity "a.7uste.$2

Cost0income ratio "reporte.$6

Cost0income ratio "a.7uste.$5

Cost savings9

Costs to achieve savingsN

CRR0CRD 5 fully loa.e. Common @uity Tier 4 ratioJ

,ully loa.e. CRR0CRD 5 leverage ratioK 285 E

2 Base. on )et Income attributable to Deutsche Bank sharehol.ers; a.7uste. for litigation; Ct%; impairment of goo.=ill an. intangible assets;other severances an. CRR0CRD 5 Cre.it 1aluation %.7ustment "C1%$0Debt 1aluation %.7ustment "D1%$0,un.ing 1aluation %.7ustment ",1%$8Calculation is base. on an a.7uste. ta! rate of 65 E for year en.e. December 64; 2345 an. 6N E for year en.e. December 64; 23468

5 Base. on noninterest e!penses; a.7uste. for litigation; Ct%; impairment of goo.=ill an. intangible assets; policyhol.er benefits an. claims;other severances an. other .ivisional specific cost one*offsQ .ivi.e. by reporte. revenues8

J The CRR0CRD 5 fully loa.e. Common @uity Tier 4 ratio represents our calculation of our Common @uity Tier 4 ratio =ithout taking intoaccount the transitional provisions of CRR0CRD 58 ,urther .etail on the calculation of this ratio is provi.e. in the Risk Report8


23/388


Con.ense. Consoli.ate. Statement of Income

in M m8"unless state. other=ise$ 2345 2346 2342

)et interest income 45;2J2 45;K65 49;J9 "9N2$ "5$ "4;454$

(rovision for cre.it losses 4;465 2;3N9 4;J24 "64$ "59$ 655

)et interest income after provision for cre.it losses 1$%1$) 42;JN 45;295 6N 6 "4;5K9$

42;53 42;63K 44;K3 434 4 933

5;2 6;K4J 9;N3K 5K4 46 "4;J4$

)et gains "losses$ on financial assets available for sale 252 65 634 "492$ "6$ 6

)et income "loss$ from e@uity metho. investments N4 6N 4N6 294 NK 23N

Other income "loss$ 43K 46 "423$ "K9$ "55$ 646

Total noninterest income 1*%&** 4J;3K2 4J;JN4 9N 6 "NJ$

$0%)1' 2;K93 62;349 N9 6 "2;4N5$

Compensation an. benefits 42;942 42;62 46;53 4K6 4 "4;4N3$General an. a.ministrative e!penses 45;N95 49;42N 49;34J "5J2$ "6$ 443

(olicyhol.er benefits an. claims 2K 5N3 545 "4J2$ "6J$ 5N

Impairment of intangible assets 444 J 4;KKN 66 52 "4;K3K$

Restructuring activities 466 6 65 "2NJ$ "NJ$ 9

Total noninterest e!penses 2*%&(( 2K;65 64;234 "N9$ "2$ "2;K3J$

Income before income ta!es $%11& 4;59N K45 4;NN3 445 N52

Income ta! e!pense 4;529 JJ9 5K N93 K5 2JJ

)et income 1%&(1 NK4 64N 4;343 45K 6N9

)et income attributable to noncontrolling interests 2K 49 96 46 K6 "6J$

)et income attributable to Deutsche Bank sharehol.ers 4;NN6 NNN 2N6 J 493 536

)0' )ot meaningful

4 (rior perio.s have been restate.8 ,or further .etail please refer to )ote 4 Significant %ccounting (olicies an. Critical %ccounting stimates of this report8

2 %fter provision for cre.it losses8

2345 increase ".ecrease$

from 2346

2346 increas

in M m8 in E in M m8

Commissions an. fee income4

)et gains "losses$ on financial assets0liabilities atfair value through profit or loss4

Total net revenues2


24/388

Deutsche Bank Annual Report 2014Net Interest Incoe

"unless state. other=ise$ 2345 2346 2342

Total interest an. similar income 29;334 29;N34 64;96 "N33$ "2$ "

Total interest e!penses 43;J2 43;JNK 49;N4 "6$ 3 "

)et interest income 14%2*2 45;K65 49;J9 "9N2$ "5$ "

4;353;3K 4;46N;NN2 4;293;332 "9;J95$ "K$ "44

K94;J45 J;259 4;44;6J5 "42J;964$ "46$ "45

2853 E 2829 E 2896 E 3849 ppt J "38

482N E 4843 E 4853 E 384N ppt 49 "38

4845 E 4849 E 4846 E "3834$ ppt "4$ 3

486J E 4864 E 482K E 383N ppt 9 3

ppt (ercentage points

4 %verage balances for each year are calculate. in general base. upon month*en. balances8

2 Gross interest yiel. is the average interest rate earne. on our average interest*earning assets8

6 Gross interest rate pai. is the average interest rate pai. on our average interest*bearing liabilities8

5 )et interest sprea. is the .ifference bet=een the average interest rate earne. on average interest*earning assets an. the average interest rate pai. on average interest*bearing liabilities8

9 )et interest margin is net interest income e!presse. as a percentage of average interest*earning assets8

in M m82345 increase ".ecrease$

from 2346

in M m8 in E

%verage interest*earning assets4

%verage interest*bearing liabilities4

Gross interest yiel.2

Gross interest rate pai.6

)et interest sprea.5

)et interest margin9


25/388

Deutsche Bank Annual Report 2014Net ains +3osses, on -inancial Assets3ia"ilities at -air 5alue through /ro!it or 3oss

"unless state. other=ise$ 2345 2346 2342CB#S Sales # Tra.ing "e@uity$ 4;3NN 4;429 4 "9K$ "9$ 466

CB#S Sales # Tra.ing ".ebt an. other pro.ucts$ 2;5KJ 2;955 5;93K "9J$ "2$ "4;N5$ "5

)on*Core Operations +nit "NN6$ "6J5$ "K5N$ "2K$ JJ 5J2 "9

Other 4;53K 926 99 KKN 4J3 "566$ "5

4%2(( 6;K4J 9;N3K 5K4 46 "4;J4$ "6


from 23462346 increase ".ecreas

from 23

in M m8 in E in M m8 in

Total net gains "losses$ on financial assets0liabilitiesat fair value through profit or loss


26/388


Net Interest Incoe an Net ains +3osses, on -inancial Assets3ia"ilities at -air 5alue through /ro!it or 3oss


)et interest income 45;2J2 45;K65 49;J9 "9N2$ "5$ "4;454$

5;2 6;K4J 9;N3K 5K4 46 "4;J4$

1)%'*0 4K;N94 24;9K6 "K4$ 3 "2;62$

Sales # Tra.ing "e@uity$ 2;645 2;42 4;J62 4K9 6J

Sales # Tra.ing ".ebt an. other pro.ucts$ N;NK9 N;3N J;K94 N4N 43 "4;JK2$

Total Sales # Tra.ing K;K K;4J ;9K2 K34 43 "4;6K9$

N9 9 4K2 9 4N 54K"N4$ J2 9K "466$ )0' "94J$

Corporate Banking # Securities ;N62 K;KN 43;696 JN5 "4;5K9$

(rivate # Business Clients 9;N2 9;NN N;223 "5$ 3 "295$

Global Transaction Banking 2;262 4;K5 2;34N 25K 42 "62$

Deutsche %sset # &ealth 'anagement 4;939 4;9NK 4;J5 "N6$ "5$ "53N$

)on*Core Operations +nit "9J6$ 259 N93 "K4K$ )0' "539$

Consoli.ation # %.7ustments "4KJ$ 4 6N "23N$ )0' "693$

1)%'*0 4K;N94 24;9K6 "K4$ 3 "2;62$

)0' )ot meaningful


from 23462346 i

in M m8 in E in M m

Total net gains "losses$ on financial assets0liabilities atfair value through profit or loss

Total net interest income an. net gains "losses$ onfinancial assets0liabilities at fair value throughprofit or loss

Break.o=n by Corporate Division0pro.uct4

/oan pro.ucts2

Remaining pro.ucts6

Total net interest income an. net gains "losses$ onfinancial assets0liabilities at fair value throughprofit or loss

4 This break.o=n reflects net interest income an. net gains "losses$ on financial assets0liabilities at fair value through profit or loss only8 ,or a .iscussion of the corporate .ivisionsF total revenues by pr)ote 5 Business Segments an. Relate. Information8

2 Inclu.es the net interest sprea. on loans as =ell as the fair value changes of cre.it .efault s=aps an. loans .esignate. at fair value through profit or loss86 Inclu.es net interest income an. net gains "losses$ on financial assets0liabilities at fair value through profit or loss of origination; a.visory an. other pro.ucts8


27/388

Deutsche Bank Annual Report 2014Reaining Noninterest Incoe


42;53 42;63K 44;K3 434 4

)et gains "losses$ on financial assets available for sale 252 65 634 "492$ "6$

)et income "loss$ from e@uity metho. investments N4 6N 4N6 294 NK

Other income "loss$ 43K 46 "423$ "K9$ "55$

Total remaining noninterest income 1$%$*( 46;2N5 42;496 445 4

)0' )ot meaningful

4 inclu.es

Commissions an. fees from f i.uciary activities

Commissions for a.ministration 535 569 55 "64$ "J$Commissions for assets un.er management 6;39J 2;N6 2;N3 5 6

Commissions for other securities business 2K6 25J 26 6N 45

Total $%*4' 6;N5N 6;2J K 6

Commissions; brokerFs fees; mark*ups on securities un.er=riting an. other securities activities

+n.er=riting an. a.visory fees 2;959 2;6JK 2;64K 4NJ J

Brokerage fees 4;5KK 4;952 4;92N "95$ "6$

Total 4%0$$ 6;23 6;K55 446 6

,ees for other customer services 5;N62 5;J52 5;NNJ "444$ "2$

Total commissions an. fee income 12%40( 42;63K 44;K3 434 4


from 2346

in M m8 in E

Commissions an. fee income4


28/388

Deutsche Bank Annual Report 2014Noninterest E6penses

in M m8"unless state. other=ise$ 2345 2346 2342

Compensation an. benefits 42;942 42;62 46;53 4K6 4

45;N95 49;42N 49;34J "5J2$ "6$

(olicyhol.er benefits an. claims 2K 5N3 545 "4J2$ "6J$

Impairment of intangible assets 444 J 4;KKN 66 52

Restructuring activities 466 6 65 "2NJ$ "NJ$

Total noninterest e!penses 2*%&(( 2K;65 64;234 "N9$ "2$

4 inclu.es

2345 2346 2342 in M m8

IT costs 6;666 6;3J5 2;95J 29 K

Occupancy; furniture an. e@uipment e!penses 4;JK 2;3J6 2;449 "9$ "9$

2;32 4;JJ2 4;KKJ 29N 45J29 J3N J9N 4K 6

933 5N 9J 5 4

NN3 J56 4;2J5 "K6$ "44$

'arketing e!penses 646 645 6N2 3 3

Consoli.ate. investments K44 JJ JN3 45 2

5;639 9;494 5;J6N "K5N$ "4N$

Total general an. a.ministrative e!penses 14%&'4 49;42N 49;34J "5J2$ "6$

2 In 2345; prior perio. comparatives have been restate. in or.er to reflect changes in the GroupFs cost reporting8

2345 increase ".ecrease$from 2346

in M m8 in E

General an. a.ministrative e!penses4

in E

(rofessional service fees2

Communication an. .ata services2

Travel an. representation e!penses2

Banking an. transaction charges2

Other e!penses2;6

6 Inclu.es litigation relate. e!penses of M 48N billion in 2345; M 683 billion in 2346 an. of M 28N billion in 23428


29/388

Deutsche Bank Annual Report 2014Segent Results o! 7perations 2014

46;J52 ;N6 5;45N 5;J3K 244 62;55N "5

(rovision for cre.it losses 436 N22 49N "J$ 29 4;466

Total noninterest e!penses 43;65K J;NK2 2;J4 6;NK9 2;K35 2J;643 6

thereof

Depreciation; .epletion an. amorti>ation 2 3 3 3 3 2 4

Severance payments 5N 465 44 43 9 23J

(olicyhol.er benefits an. claims 3 3 3 2K 3 2K

Restructuring activities 442 43 "6$ 5 466

Impairment of intangible assets 3 3 3 "K6$ 45 444

)oncontrolling interests 29 4 3 5 "2$ 2K "2

Income "loss$ before income ta!es 6;2NN 4;669 4;4K 4;32J "2;K94$ 6;J9 "K9

Cost0income ratio J9 E K3 E NJ E JK E )0' K5 E )

4;246;N42 29K;6K4 43N;292 K4;462 6K;K96 4;NK;263 43;5

!pen.itures for a..itions to long*live. assets 3 43K 3 4 3 43 9

4J9;9N4 J;9J4 56;2N9 4N;9J 9K;96K 6J6;962 23;5

%verage active e@uity 25;235 45;523 9;KN3 N;595 J;N5 9K;9KK 2;3

(re*ta! return on average active e@uity 46 E E 23 E 4N E "6J$ E J E )

E N E 45 E 44 E "29$ E )0' )

4 Inclu.es

)et interest income 9;594 9;KKJ 4;KJ9 4;392 3 45;699 "K

42K 564 6 22 65 N4J

2 Inclu.es

@uity metho. investments 924 6;495 93 4N6 4J3 5;39K

)0' )ot meaningful

in M m8"unless state. other=ise$

CorporateBanking #Securities

(rivate #Business

Clients

GlobalTransaction

Banking

Deutsche %sset# &ealth

'anagement)on*Core

Operations +nit

Total'anagement

ReportingConsoli.atio

%.7ustme

)et revenues4

%ssets2

Risk*=eighte. assets6

(ost*ta! return on average active e@uity5

)et income "loss$ from e@uity metho.investments

6 Risk =eighte. assets an. capital ratios are base. upon CRR0CRD 5 fully*loa.e. since Hanuary 4; 23458

5 The post*ta! return on average active e@uity at the Group level reflects the reporte. effective ta! rate for the Group; =hich =as 5N E for the year en.e. December 64; 23458 ,or the post*ta! return oe@uity of the segments; the Group effective ta! rate =as a.7uste. to e!clu.e the impact of permanent .ifferences not attribute. to the segments; so that the segment ta! rates =ere 65 E for the year eDecember 64; 23458


30/388

Deutsche Bank Annual Report 2014Segent Results o! 7perations 201$

46;92N ;993 5;3N 5;J69 N5 62;K55 "

(rovision for cre.it losses 4K J4 649 26 K4K 2;3N5

Total noninterest e!penses 43;4N2 J;2JN 2;N5K 6;2 6;993 2J;9N5

thereof

Depreciation; .epletion an. amorti>ation 2 3 3 3 2 9

Severance payments 2N 225 K 9 45 2JK

(olicyhol.er benefits an. claims 3 3 3 5N3 3 5N3

Restructuring activities 463 22 95 4J3 29 6

Impairment of intangible assets 3 J 9J 45 3 J

)oncontrolling interests 4N 3 3 4 "6$ 49

Income "loss$ before income ta!es 6;49K 4;999 4;43J JK2 "6;532$ 6;233 "4;Cost0income ratio J9 E JN E N9 E K6 E )0' K5 E

4;432;33J 2N9;6N3 J;253 J2;N46 N6;K43 4;N34;32 43

!pen.itures for a..itions to long*live. assets 42 4JN J 3 236

Risk*=eighte. assets "Basel 289$ 445;J2 J6;334 6N;K44 42;996 92;556 2K;96J 43

23;4N4 46;JN 9;46N 9;KN5 43;2N 99;565

(re*ta! return on average active e@uity 4N E 44 E 22 E 46 E "66$ E N E

E N E 46 E K E "4$ E )0'

4 Inclu.es

)et interest income 9;53 9;N6 4;63 KK N4K 45;3

JK 6J9 6 4K "43N$ 6NK

2 Inclu.es

@uity metho. investments N2K 2;9N6 5K 456 4J4 6;995

)0' )ot meaningful

in M m8"unless state. other=ise$

CorporateBanking #Securities

(rivate #Business

Clients

GlobalTransaction

Banking

Deutsche %sset# &ealth

'anagement)on*Core

Operations +nit

Total'anagement

ReportingConsoli.at

%.7ustm

)et revenues4

dbhsdysd sdjkg dgfshd bfksdfus d sdfhds fdushdshf ofy2014 entire

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