Deutsche Bank Performance

After a challenging first half of the year, Deutsche Bank’s performance in the third quarter continued to be resilient despite challenging market conditions including continued low interest rates, further litigation-related charges, decreases in market activity and increasing regulatory costs. We have strengthened our capital base and have continued to implement the cultural and cost initiatives laid out in Strategy 2015+. On October 26, 2014 the European Central Bank and the European Banking Authority released the results of their Comprehensive Assessment of European banks. This did not have an impact on our financial position.

The key financial results for the Group in the first nine months 2014 can be summarized as follows:

  • Group net revenues were € 24.1 billion in the first nine months 2014, down 5 % versus the first nine months 2013;
  • Income before income taxes was € 2.9 billion, down 11 % as compared to the first nine months 2013;
  • Net income decreased to € 1.2 billion in the first nine months 2014, compared to € 2.0 billion in the first nine months 2013;
  • Capital Requirements Regulation/Capital Requirements Directive 4 (CRR/CRD 4) fully loaded Common Equity Tier 1 capital ratio was 11.5 % at the end of the first nine months 2014;
  • Fully loaded CRR/CRD 4 leverage ratio was 3.3 % at the end of the first nine months 2014;
  • CRR/CRD 4 fully loaded risk-weighted assets were € 402 billion as of September 30, 2014.

The financial Key Performance Indicators (KPIs) of the Group for the first nine months are detailed in the table below:

Group Key Performance Indicators

Sep 30, 2014

Sep 30, 2013

1

Based on Net Income attributable to Deutsche Bank shareholders.

2

Based on Net Income attributable to Deutsche Bank shareholders, adjusted for litigation, CtA, impairment of goodwill and intangible assets, other severances and CRR/CRD 4 Credit Valuation Adjustment (CVA)/Debt Valuation Adjustment (DVA)/Funding Valuation Adjustment (FVA). Calculation is based on an adjusted tax rate of 35 % for nine months ended September 30, 2014 and 32.7 % for nine months ended September 30, 2013. For further information, please refer to “Other Information: Non-GAAP Financial Measures” of this report.

3

Total noninterest expenses as a percentage of total net interest income before provision for credit losses plus noninterest income.

4

Based on noninterest expenses, adjusted for litigation, CtA, impairment of goodwill and intangible assets, policyholder benefits and claims, other severances and other divisional specific cost one-offs; divided by reported revenues. For further information, please refer to “Other Information: Non-GAAP Financial Measures” of this report.

5

Cost savings resulting from the implementation of the OpEx program.

6

Costs-to-achieve (CtA) savings are costs which are directly required for the realisation of savings in the OpEx program.

7

The CRR/CRD 4 fully loaded Common Equity Tier 1 ratio represents our calculation of our Common Equity Tier 1 ratio without taking into account the transitional provisions of CRR/CRD 4. Further detail on the calculation of this ratio is provided in the Risk Report.

8

Further detail on the calculation of this ratio is provided in the Risk Report.

Post-tax return on average active equity (reported)1

2.8 %

4.9 %

Post-tax return on average active equity (adjusted)2

8.2 %

9.8 %

Cost/income ratio (reported)3

85.0 %

82.0 %

Cost/income ratio (adjusted)4

73.6 %

69.2 %

Cost savings5

€ 2.9 bn

€ 1.5 bn

Costs to achieve savings6

€ 2.7 bn

€ 1.3 bn

CRR/CRD 4 fully loaded Common Equity Tier 1 ratio7

11.5 %

9.7 %

Fully loaded CRR/CRD 4 leverage ratio8

3.3 %