UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 6-K
REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13
a
-16 OR 15
d
-16
UNDER THE SECURITIES EXCHANGE ACT OF 1934
For the month of July 2021
Commission File Number 1-15242
DEUTSCHE BANK CORPORATION
(Translation of Registrant’s Name Into English)
Deutsche Bank Aktiengesellschaft
Taunusanlage 12
60325 Frankfurt am Main
Germany
(Address of Principal Executive Office)
This Report on Form 6-K contains the following exhibits. This Report on Form 6-K and the exhibits hereto are hereby incorporated by reference into Registration Statement No. 333-226421 of Deutsche Bank AG. For the avoidance of doubt, the section of the Interim Report (contained in Exhibit 99.1) entitled “Risks and Opportunities” is intended to supplement, but not replace, the section “Risk Factors” included on pages 14 to 51 of our 2020 Annual Report on Form 20-F.
Exhibit 99.1 : Deutsche Bank AG’s Interim Report as of June 30, 2021.
Exhibit 99.2 : Capitalization table of Deutsche Bank AG as of June 30, 2021 (also incorporated as Exhibit 12.12 to Registration Statement No. 333-226421 of Deutsche Bank AG).
This report contains forward-looking statements. Forward-looking statements are statements that are not historical facts; they include statements about our beliefs and expectations. Any statement in this report that states our intentions, beliefs, expectations or predictions (and the assumptions underlying them) is a forward-looking statement. These statements are based on plans, estimates and projections as they are currently available to the management of Deutsche Bank. Forward-looking statements therefore speak only as of the date they are made, and we undertake no obligation to update publicly any of them in light of new information or future events.
By their very nature, forward-looking statements involve risks and uncertainties. A number of important factors could therefore cause actual results to differ materially from those contained in any forward-looking statement. Such factors include the conditions in the financial markets in Germany, in Europe, in the United States and elsewhere from which we derive a substantial portion of our trading revenues, potential defaults of borrowers or trading counterparties, the implementation of our strategic initiatives, the reliability of our risk management policies, procedures and methods, and other risks referenced in our filings with the U.S. Securities and Exchange Commission. Such factors are described in detail in our 2020 Annual Report on Form 20-F filed with the SEC, on pages 14 through 51 under the heading “Risk Factors.” Copies of this document are readily available upon request or can be downloaded from www.deutsche-bank.com/ir.
2
This report and other documents we have published or may publish contain non-GAAP financial measures. Non-GAAP financial measures are measures of our historical or future performance, financial position or cash flows that contain adjustments that exclude or include amounts that are included or excluded, as the case may be, from the most directly comparable measure calculated and presented in accordance with IFRS in our financial statements. Examples of our non-GAAP financial measures, and the most directly comparable IFRS financial measures, are as follows:
Non-GAAP Financial Measure |
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Most Directly Comparable IFRS Financial Measure |
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Adjusted profit (loss) before tax, Profit (loss) attributable to Deutsche Bank shareholders, Profit (loss) attributable to Deutsche Bank shareholders after AT1 coupon |
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Profit (loss) before tax |
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Revenues excluding specific items, Revenues on a currency-adjusted basis, Revenues adjusted for foregone revenues due to the BGH ruling |
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Net revenues |
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Adjusted costs, Adjusted costs excluding transformation charges, Adjusted costs excluding transformation charges and expenses eligible for reimbursement related to Prime Finance |
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Noninterest expenses |
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Net assets (adjusted) |
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Total assets |
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Tangible shareholders’ equity, Average tangible shareholders’ equity, Tangible book value, Average tangible book value |
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Total shareholders’ equity (book value) |
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Post-tax return on average shareholders’ equity (based on Profit (loss) attributable to Deutsche Bank shareholders after AT1 coupon), Adjusted post-tax return on equity measures |
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Post-tax return on average shareholders’ equity |
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Post-tax return on average tangible shareholders’ equity |
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Post-tax return on average shareholders’ equity |
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Tangible book value per basic share outstanding, Book value per basic share outstanding |
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Book value per share outstanding |
For descriptions of non-GAAP financial measures and the adjustments made to the most directly comparable financial measures under IFRS, please refer to (i) the section “Non-GAAP financial measures” of Exhibit 99.1 hereto and (ii) the section “Supplementary Information (Unaudited): Non-GAAP financial measures” on pages 428 through 435 of our 2020 Annual Report (which constitutes a part of our 2020 Annual Report on Form 20-F).
When used with respect to future periods, our non-GAAP financial measures are also forward-looking statements. We cannot predict or quantify the levels of the most directly comparable financial measures under IFRS that would correspond to these measures for future periods. This is because neither the magnitude of such IFRS financial measures, nor the magnitude of the adjustments to be used to calculate the related non-GAAP financial measures from such IFRS financial measures, can be predicted. Such adjustments, if any, will relate to specific, currently unknown, events and in most cases can be positive or negative, so that it is not possible to predict whether, for a future period, the non-GAAP financial measure will be greater than or less than the related IFRS financial measure.
3
Our regulatory assets, exposures, risk-weighted assets, capital and ratios thereof are calculated for regulatory purposes and set forth throughout this report under the regulation on prudential requirements for credit institutions and investment firms (“CRR”) and the Capital Requirements Directive (“CRD”) implementing Basel 3 as currently applicable. CRR/CRD provides for “transitional” (or “phase-in”) rules, under which capital instruments that are no longer eligible under the new rules are permitted to be phased out. Unless otherwise noted, our CRR/CRD solvency measures set forth in this document reflect these transitional rules. We also set forth in this report certain CRR/CRD solvency measures on a “fully loaded” basis, reflecting full application of the final CRR/CRD framework regarding own funds instruments without consideration of the transitional provisions under CRR/CRD, except as described in respect of the applicable measure. Measures calculated pursuant to our fully loaded methodology are non-GAAP financial measures.
We believe that these “fully loaded” calculations provide useful information to investors as they reflect our progress against the regulatory capital standards and as many of our competitors have been describing calculations on a “fully loaded” basis. As our competitors’ assumptions and estimates regarding “fully loaded” calculations may vary, however, our “fully loaded” measures may not be comparable with similarly labelled measures used by our competitors.
For descriptions of these fully loaded CRR/CRD measures and the differences from the most directly comparable measures under the CRR/CRD transitional rules, please refer to (i) the sections “Risk information” and “Non-GAAP financial measures: Regulatory fully loaded measures” of Exhibit 99.1 hereto, (ii) the section “Management Report: Risk Report: Risk and capital performance: Capital, Leverage ratio, TLAC and MREL” on pages 111 through 128 of our Annual Report 2020, in particular the subsections thereof entitled “Development of own funds” and “Leverage ratio”, and (iii) the section “Supplementary Information (Unaudited): Non-GAAP financial measures: Regulatory fully loaded measures” on page 435 of our Annual Report 2020.
When used with respect to future periods, our fully loaded CRR/CRD measures are also forward-looking statements. We cannot predict or quantify the levels of the most directly comparable transitional CRR/CRD measures that would correspond to these fully loaded CRR/CRD measures for future periods. In managing our business with the aim of achieving targets based on fully loaded CRR/CRD measures, the relation between the fully loaded and transitional measures will depend upon, among other things, management action taken in light of future business, economic and other conditions.
4
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
Date: July 28, 2021
By: |
/s/ Brigitte Bomm |
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Name: |
Brigitte Bomm |
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Title: |
Managing Director |
By: |
/s/ Joseph C. Kopec |
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Name: |
Joseph C. Kopec |
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Title: |
Managing Director and Senior Counsel |
5
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Exhibit 99.1
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Deutsche Bank
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Contents
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Interim Report as of June 30, 2021
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1
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Deutsche Bank
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Contents
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Interim Report as of June 30, 2021
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Contents
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2
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Deutsche Bank
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Global economy
|
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Interim Report as of June 30, 2021
|
|
|
|
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Economic growth (in %)1
|
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Jun 30, 2021
|
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Dec 31, 20204
|
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Main driver
|
Global Economy2
|
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6.3
|
|
(3.2)
|
|
The first half of 2021 was marked by a slowdown in new COVID-19 infections in many countries, while some regions experienced a temporary resurgence of the pandemic. The global economy recovered strongly during the first half of 2021, supported by the increasing availability of vaccines. Central banks and fiscal measures remained supportive, but the largely synchronous global recovery has led to supply bottlenecks and rising inflation.
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Of which:
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|
|
|
|
|
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Industrialized countries
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5.6
|
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(5.0)
|
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Industrialized countries benefited from the early availability of COVID-19 vaccines in the first half of 2021. Fiscal policies allowed for continued support to domestic economies, while industry sectors benefited from the strong global recovery. Central banks also maintained their expansive stance and complemented fiscal policy measures.
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Emerging markets
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6.8
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(1.9)
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Emerging markets experienced less favorable economic recovery during the first half of 2021. While some of the Asian economies developed dynamically, the Latin American emerging markets suffered from a lack of access to COVID-19 vaccines.
|
Eurozone Economy3
|
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12.8
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(6.5)
|
|
The Eurozone economies have noticeably recovered as of the end of the second quarter of 2021. Country-specific COVID-19 policies resulted in a gradual divergence in each country's economic recovery in the first half of the year. The European Central Bank continued its support and fiscal policy also remained expansive.
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Of which: Germany Economy
|
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8.9
|
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(4.8)
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In the first half of 2021, the German economy was characterized as divided in its development. Strong global demand stabilized the industrial sector, while private consumption suffered significantly from COVID-19-related constraints. A more significant revival of the manufacturing sector was prevented by supply bottlenecks. The economy reopened again towards the middle of the year and private demand gained momentum. During the first half of 2021, the economy continued to be supported by fiscal measures such as “Kurzarbeit”.
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U.S. Economy3
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13.2
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(3.5)
|
|
The U.S. economy continued its dynamic recovery in the first half of 2021. This was made possible by a decline in COVID-19 infections and a strong start to its vaccination campaign. The economic recovery was also supported by strong fiscal support for private households. In addition, the Federal Reserve Bank's monetary policy remained expansionary.
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Japanese Economy3
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7.4
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(4.7)
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|
The recovery of the Japanese domestic economy was slowed by COVID-19-related restrictions at the beginning of the year and the vaccination campaign only gained momentum towards the end of the first half of 2021. In addition, foreign trade also suffered from weak demand. Overall, the economic recovery progressed slowly compared to the global economy. The Bank of Japan continued to maintain its accommodative stance.
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Asia Economy3,5
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10.9
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(0.8)
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Asia's economic recovery was negatively impacted in the first half of 2021 by weaker than expected GDP growth in a number of economies and repeated COVID-19 outbreaks that temporarily limited the recovery of domestic demand.
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Of which: Chinese Economy
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8.7
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2.3
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China's economy experienced a buoyant start in 2021, with export demand being a key growth driver. Domestic demand is being slowed by the less supportive fiscal policy towards the end of the first half of the year.
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3
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Deutsche Bank
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Banking industry
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Interim Report as of June 30, 2021
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Jun 30, 2021
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||||||||
Growth year-over-year (in %)
|
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Corporate
|
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Retail
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Corporate
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Retail
|
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Main driver
|
Eurozone1
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|
0.6
|
|
3.9
|
|
7.3
|
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6.7
|
|
Corporate lending and deposits experienced a slower growth in comparison to the strong growth in the Spring of 2020. By contrast, lending to households delivered its best performance since 2011 and deposits also experienced a strong increase given restricted opportunities for consumer spending as a result of lockdown measures.
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Of which: Germany
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1.3
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4.9
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|
8.6
|
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6.6
|
|
Corporate lending growth was at its lowest level since 2015, and corporate deposit growth also significantly decreased. For households, the volumes for lending (in particular mortgage lending) and deposits were the highest ever recorded.
|
US
|
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(7.1)
|
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(0.9)
|
|
9.72
|
|
9.72
|
|
Corporate lending continued to decline moderately following the very sharp growth at the beginning of the pandemic. Lending to households slightly dropped but deposits continued to increase sharply, partly due to the highly expansionary fiscal policy and continued restrictions on consumer spending.
|
China
|
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12.1
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15.1
|
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5.9
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11.4
|
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Lending to households and businesses remains very dynamic. Corporate deposit growth returned to its pre-crisis level and the volumes for households remained strong.
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4
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Deutsche Bank
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Group results
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Interim Report as of June 30, 2021
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5
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Deutsche Bank
|
Group results
|
|
Interim Report as of June 30, 2021
|
|
|
|
|
|
|
6
|
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Deutsche Bank
|
Group results
|
|
Interim Report as of June 30, 2021
|
|
|
|
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|
|
7
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Deutsche Bank
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Group results
|
|
Interim Report as of June 30, 2021
|
|
|
|
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|
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Three months ended
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Six months ended
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||||
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Jun 30,
|
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Jun 30,
|
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Absolute
|
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Change
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Jun 30,
|
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Jun 30,
|
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Absolute
|
|
Change
|
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Net revenues:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Of which:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Corporate Bank (CB)
|
|
1,230
|
|
1,341
|
|
(111)
|
|
(8)
|
|
2,544
|
|
2,666
|
|
(122)
|
|
(5)
|
Investment Bank (IB)
|
|
2,394
|
|
2,676
|
|
(283)
|
|
(11)
|
|
5,491
|
|
5,030
|
|
461
|
|
9
|
Private Bank (PB)
|
|
2,018
|
|
1,960
|
|
59
|
|
3
|
|
4,196
|
|
4,127
|
|
69
|
|
2
|
Asset Management (AM)
|
|
626
|
|
549
|
|
77
|
|
14
|
|
1,263
|
|
1,068
|
|
195
|
|
18
|
Capital Release Unit (CRU)
|
|
(24)
|
|
(66)
|
|
43
|
|
(64)
|
|
57
|
|
(123)
|
|
180
|
|
N/M
|
Corporate & Other (C&O)
|
|
(2)
|
|
(118)
|
|
116
|
|
(99)
|
|
241
|
|
(207)
|
|
448
|
|
N/M
|
Total net revenues
|
|
6,243
|
|
6,342
|
|
(99)
|
|
(2)
|
|
13,792
|
|
12,560
|
|
1,232
|
|
10
|
Provision for credit losses
|
|
75
|
|
761
|
|
(687)
|
|
(90)
|
|
144
|
|
1,267
|
|
(1,123)
|
|
(89)
|
Noninterest expenses:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Compensation and benefits
|
|
2,551
|
|
2,645
|
|
(93)
|
|
(4)
|
|
5,183
|
|
5,334
|
|
(152)
|
|
(3)
|
General and administrative expenses
|
|
2,361
|
|
2,599
|
|
(238)
|
|
(9)
|
|
5,287
|
|
5,474
|
|
(187)
|
|
(3)
|
Impairment of goodwill and other intangible assets
|
|
0
|
|
0
|
|
0
|
|
N/M
|
|
0
|
|
0
|
|
(0)
|
|
N/M
|
Restructuring activities
|
|
86
|
|
123
|
|
(38)
|
|
(31)
|
|
102
|
|
197
|
|
(95)
|
|
(48)
|
Total noninterest expenses
|
|
4,998
|
|
5,367
|
|
(370)
|
|
(7)
|
|
10,572
|
|
11,006
|
|
(433)
|
|
(4)
|
Profit (loss) before tax
|
|
1,170
|
|
213
|
|
958
|
|
N/M
|
|
3,075
|
|
287
|
|
2,789
|
|
N/M
|
Income tax expense (benefit)
|
|
333
|
|
129
|
|
205
|
|
159
|
|
995
|
|
207
|
|
787
|
|
N/M
|
Profit (loss)
|
|
837
|
|
84
|
|
753
|
|
N/M
|
|
2,081
|
|
80
|
|
2,001
|
|
N/M
|
Profit (loss) attributable to noncontrolling interests
|
|
33
|
|
32
|
|
1
|
|
3
|
|
69
|
|
56
|
|
13
|
|
24
|
Profit (loss) attributable to Deutsche Bank shareholders and additional equity components
|
|
804
|
|
51
|
|
752
|
|
N/M
|
|
2,012
|
|
24
|
|
1,988
|
|
N/M
|
Profit (loss) attributable to additional equity components
|
|
102
|
|
105
|
|
(2)
|
|
(2)
|
|
196
|
|
190
|
|
6
|
|
3
|
Profit (loss) attributable to Deutsche Bank shareholders
|
|
701
|
|
(53)
|
|
755
|
|
N/M
|
|
1,816
|
|
(166)
|
|
1,982
|
|
N/M
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Common Equity Tier 1 capital ratio
|
|
13.2 %
|
|
13.3 %
|
|
(0.1) ppt
|
|
N/M
|
|
13.2 %
|
|
13.3 %
|
|
(0.1) ppt
|
|
N/M
|
Leverage ratio (fully loaded)
|
|
4.8 %
|
|
4.2 %
|
|
0.6 ppt
|
|
N/M
|
|
4.8 %
|
|
4.2 %
|
|
0.6 ppt
|
|
N/M
|
Leverage ratio (phase-in)
|
|
4.9 %
|
|
4.3 %
|
|
0.6 ppt
|
|
N/M
|
|
4.9 %
|
|
4.3 %
|
|
0.6 ppt
|
|
N/M
|
Loans (gross of allowance for loan losses, in € bn)1
|
|
446
|
|
442
|
|
4
|
|
1
|
|
446
|
|
442
|
|
4
|
|
1
|
Deposits (in € bn)1
|
|
581
|
|
573
|
|
9
|
|
2
|
|
581
|
|
573
|
|
9
|
|
2
|
Assets under Management (in € bn)1
|
|
1,409
|
|
1,231
|
|
177
|
|
14
|
|
1,409
|
|
1,231
|
|
177
|
|
14
|
Employees (full-time equivalent)1
|
|
83,797
|
|
86,824
|
|
(3,027)
|
|
(3)
|
|
83,797
|
|
86,824
|
|
(3,027)
|
|
(3)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
8
|
|
Deutsche Bank
|
Group results
|
|
Interim Report as of June 30, 2021
|
|
|
|
|
|
|
Three months ended
|
|
|
|
|
|
Six months ended
|
|
|
|
|
||||
in € m.
|
|
Jun 30, 2021
|
|
Jun 30, 2020
|
|
Absolute
|
|
Change
|
|
Jun 30, 2021
|
|
Jun 30, 2020
|
|
Absolute
|
|
Change
|
Net revenues:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Corporate Bank (CB)
|
|
1,230
|
|
1,341
|
|
(111)
|
|
(8)
|
|
2,544
|
|
2,666
|
|
(122)
|
|
(5)
|
Investment Bank (IB)
|
|
2,394
|
|
2,676
|
|
(283)
|
|
(11)
|
|
5,491
|
|
5,030
|
|
461
|
|
9
|
Private Bank (PB)
|
|
2,018
|
|
1,960
|
|
59
|
|
3
|
|
4,196
|
|
4,127
|
|
69
|
|
2
|
Asset Management (AM)
|
|
626
|
|
549
|
|
77
|
|
14
|
|
1,263
|
|
1,068
|
|
195
|
|
18
|
Corporate & Other (C&O)
|
|
(2)
|
|
(118)
|
|
116
|
|
(99)
|
|
241
|
|
(207)
|
|
448
|
|
N/M
|
Total net revenues
|
|
6,267
|
|
6,408
|
|
(142)
|
|
(2)
|
|
13,734
|
|
12,683
|
|
1,051
|
|
8
|
Provision for credit losses
|
|
99
|
|
733
|
|
(633)
|
|
(86)
|
|
176
|
|
1,225
|
|
(1,049)
|
|
(86)
|
Noninterest expenses:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Compensation and benefits
|
|
2,516
|
|
2,600
|
|
(84)
|
|
(3)
|
|
5,107
|
|
5,237
|
|
(130)
|
|
(2)
|
General and administrative expenses
|
|
2,138
|
|
2,148
|
|
(10)
|
|
(0)
|
|
4,607
|
|
4,382
|
|
225
|
|
5
|
Impairment of goodwill and other intangible assets
|
|
0
|
|
0
|
|
0
|
|
N/M
|
|
0
|
|
0
|
|
(0)
|
|
N/M
|
Restructuring activities
|
|
85
|
|
124
|
|
(39)
|
|
(31)
|
|
101
|
|
196
|
|
(95)
|
|
(48)
|
Total noninterest expenses
|
|
4,739
|
|
4,872
|
|
(132)
|
|
(3)
|
|
9,815
|
|
9,815
|
|
(0)
|
|
(0)
|
Noncontrolling interests
|
|
0
|
|
0
|
|
(0)
|
|
N/M
|
|
0
|
|
0
|
|
(0)
|
|
N/M
|
Profit (loss) before tax
|
|
1,428
|
|
804
|
|
624
|
|
78
|
|
3,743
|
|
1,643
|
|
2,100
|
|
128
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total assets (in € bn)1
|
|
1,153
|
|
1,142
|
|
12
|
|
1
|
|
1,153
|
|
1,142
|
|
12
|
|
1
|
Loans (gross of allowance for loan losses, in € bn)1
|
|
443
|
|
438
|
|
5
|
|
1
|
|
443
|
|
438
|
|
5
|
|
1
|
Employees (front office full-time equivalent)1
|
|
83,377
|
|
86,288
|
|
(2,911)
|
|
(3)
|
|
83,377
|
|
86,288
|
|
(2,911)
|
|
(3)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
9
|
|
Deutsche Bank
|
Segment results
|
|
Interim Report as of June 30, 2021
|
|
|
|
|
|
|
10
|
|
Deutsche Bank
|
Segment results
|
|
Interim Report as of June 30, 2021
|
|
|
|
|
|
|
Three months ended
|
|
|
|
|
|
Six months ended
|
|
|
|
|
||||
in € m.
|
|
Jun 30, 2021
|
|
Jun 30, 2020
|
|
Absolute
|
|
Change
|
|
Jun 30, 2021
|
|
Jun 30, 2020
|
|
Absolute
|
|
Change
|
Net revenues:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Corporate Treasury Services
|
|
728
|
|
813
|
|
(85)
|
|
(10)
|
|
1,524
|
|
1,613
|
|
(89)
|
|
(6)
|
Institutional Client Services
|
|
322
|
|
336
|
|
(14)
|
|
(4)
|
|
650
|
|
672
|
|
(22)
|
|
(3)
|
Business Banking
|
|
180
|
|
193
|
|
(13)
|
|
(7)
|
|
370
|
|
381
|
|
(11)
|
|
(3)
|
Total net revenues
|
|
1,230
|
|
1,341
|
|
(111)
|
|
(8)
|
|
2,544
|
|
2,666
|
|
(122)
|
|
(5)
|
Of which:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net interest income
|
|
543
|
|
822
|
|
(279)
|
|
(34)
|
|
1,250
|
|
1,525
|
|
(275)
|
|
(18)
|
Commissions and fee income
|
|
534
|
|
512
|
|
22
|
|
4
|
|
1,081
|
|
1,043
|
|
38
|
|
4
|
Remaining income
|
|
153
|
|
8
|
|
146
|
|
N/M
|
|
213
|
|
98
|
|
114
|
|
116
|
Provision for credit losses
|
|
(20)
|
|
144
|
|
(163)
|
|
N/M
|
|
(40)
|
|
250
|
|
(290)
|
|
N/M
|
Noninterest expenses:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Compensation and benefits
|
|
271
|
|
260
|
|
11
|
|
4
|
|
545
|
|
541
|
|
4
|
|
1
|
General and administrative expenses
|
|
729
|
|
859
|
|
(130)
|
|
(15)
|
|
1,547
|
|
1,671
|
|
(124)
|
|
(7)
|
Impairment of goodwill and other intangible assets
|
|
0
|
|
0
|
|
0
|
|
N/M
|
|
0
|
|
0
|
|
0
|
|
N/M
|
Restructuring activities
|
|
5
|
|
0
|
|
4
|
|
N/M
|
|
17
|
|
5
|
|
12
|
|
N/M
|
Total noninterest expenses
|
|
1,004
|
|
1,120
|
|
(115)
|
|
(10)
|
|
2,109
|
|
2,217
|
|
(109)
|
|
(5)
|
Noncontrolling interests
|
|
0
|
|
0
|
|
0
|
|
N/M
|
|
0
|
|
0
|
|
0
|
|
N/M
|
Profit (loss) before tax
|
|
246
|
|
78
|
|
168
|
|
N/M
|
|
475
|
|
199
|
|
276
|
|
139
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total assets (in € bn)1
|
|
245
|
|
241
|
|
5
|
|
2
|
|
245
|
|
241
|
|
5
|
|
2
|
Loans (gross of allowance for loan losses, in € bn)1
|
|
116
|
|
120
|
|
(4)
|
|
(3)
|
|
116
|
|
120
|
|
(4)
|
|
(3)
|
Employees (front office full-time equivalent)1
|
|
7,524
|
|
7,860
|
|
(336)
|
|
(4)
|
|
7,524
|
|
7,860
|
|
(336)
|
|
(4)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
11
|
|
Deutsche Bank
|
Segment results
|
|
Interim Report as of June 30, 2021
|
|
|
|
|
|
|
Three months ended
|
|
|
|
|
|
Six months ended
|
|
|
|
|
||||
in € m.
|
|
Jun 30, 2021
|
|
Jun 30, 2020
|
|
Absolute
|
|
Change
|
|
Jun 30, 2021
|
|
Jun 30, 2020
|
|
Absolute
|
|
Change
|
Net revenues:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Fixed Income, Currency (FIC) Sales & Trading
|
|
1,811
|
|
2,030
|
|
(220)
|
|
(11)
|
|
4,280
|
|
3,884
|
|
396
|
|
10
|
Debt Origination
|
|
399
|
|
450
|
|
(51)
|
|
(11)
|
|
785
|
|
811
|
|
(26)
|
|
(3)
|
Equity Origination
|
|
115
|
|
118
|
|
(4)
|
|
(3)
|
|
313
|
|
136
|
|
177
|
|
131
|
Advisory
|
|
111
|
|
42
|
|
69
|
|
166
|
|
181
|
|
104
|
|
77
|
|
74
|
Origination & Advisory
|
|
624
|
|
610
|
|
14
|
|
2
|
|
1,279
|
|
1,051
|
|
228
|
|
22
|
Other
|
|
(41)
|
|
36
|
|
(77)
|
|
N/M
|
|
(68)
|
|
95
|
|
(163)
|
|
N/M
|
Total net revenues
|
|
2,394
|
|
2,676
|
|
(283)
|
|
(11)
|
|
5,491
|
|
5,030
|
|
461
|
|
9
|
Provision for credit losses
|
|
2
|
|
364
|
|
(362)
|
|
(99)
|
|
3
|
|
607
|
|
(604)
|
|
(100)
|
Noninterest expenses:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Compensation and benefits
|
|
491
|
|
464
|
|
26
|
|
6
|
|
982
|
|
959
|
|
23
|
|
2
|
General and administrative expenses
|
|
844
|
|
852
|
|
(7)
|
|
(1)
|
|
1,958
|
|
1,828
|
|
129
|
|
7
|
Impairment of goodwill and other intangible assets
|
|
0
|
|
0
|
|
0
|
|
N/M
|
|
0
|
|
0
|
|
0
|
|
N/M
|
Restructuring activities
|
|
11
|
|
11
|
|
0
|
|
1
|
|
12
|
|
15
|
|
(3)
|
|
(19)
|
Total noninterest expenses
|
|
1,346
|
|
1,327
|
|
19
|
|
1
|
|
2,951
|
|
2,802
|
|
150
|
|
5
|
Noncontrolling interests
|
|
(2)
|
|
6
|
|
(8)
|
|
N/M
|
|
(1)
|
|
5
|
|
(6)
|
|
N/M
|
Profit (loss) before tax
|
|
1,047
|
|
979
|
|
68
|
|
7
|
|
2,538
|
|
1,616
|
|
921
|
|
57
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total assets (in € bn)1
|
|
586
|
|
594
|
|
(8)
|
|
(1)
|
|
586
|
|
594
|
|
(8)
|
|
(1)
|
Loans (gross of allowance for loan losses, in € bn)1
|
|
75
|
|
80
|
|
(5)
|
|
(6)
|
|
75
|
|
80
|
|
(5)
|
|
(6)
|
Employees (front office full-time equivalent)1
|
|
4,212
|
|
4,270
|
|
(58)
|
|
(1)
|
|
4,212
|
|
4,270
|
|
(58)
|
|
(1)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
12
|
|
Deutsche Bank
|
Segment results
|
|
Interim Report as of June 30, 2021
|
|
|
|
|
|
|
Three months ended
|
|
|
|
|
|
Six months ended
|
|
|
|
|
||||
in € m.
|
|
Jun 30, 2021
|
|
Jun 30, 2020
|
|
Absolute
|
|
Change
|
|
Jun 30, 2021
|
|
Jun 30, 2020
|
|
Absolute
|
|
Change
|
Net revenues:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Private Bank Germany
|
|
1,198
|
|
1,210
|
|
(12)
|
|
(1)
|
|
2,545
|
|
2,542
|
|
3
|
|
0
|
International Private Bank
|
|
820
|
|
750
|
|
70
|
|
9
|
|
1,651
|
|
1,585
|
|
66
|
|
4
|
IPB Personal Banking1
|
|
213
|
|
187
|
|
26
|
|
14
|
|
442
|
|
407
|
|
35
|
|
9
|
Private Banking2 and Wealth Management
|
|
607
|
|
563
|
|
44
|
|
8
|
|
1,209
|
|
1,178
|
|
31
|
|
3
|
Total net revenues
|
|
2,018
|
|
1,960
|
|
59
|
|
3
|
|
4,196
|
|
4,127
|
|
69
|
|
2
|
Of which:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net interest income
|
|
1,147
|
|
1,129
|
|
19
|
|
2
|
|
2,319
|
|
2,319
|
|
0
|
|
0
|
Commissions and fee income
|
|
737
|
|
679
|
|
58
|
|
9
|
|
1,626
|
|
1,525
|
|
101
|
|
7
|
Remaining income
|
|
134
|
|
152
|
|
(18)
|
|
(12)
|
|
251
|
|
283
|
|
(32)
|
|
(11)
|
Provision for credit losses
|
|
117
|
|
225
|
|
(108)
|
|
(48)
|
|
215
|
|
364
|
|
(149)
|
|
(41)
|
Noninterest expenses:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Compensation and benefits
|
|
682
|
|
728
|
|
(46)
|
|
(6)
|
|
1,401
|
|
1,467
|
|
(66)
|
|
(4)
|
General and administrative expenses
|
|
1,162
|
|
1,160
|
|
3
|
|
0
|
|
2,246
|
|
2,244
|
|
2
|
|
0
|
Impairment of goodwill and other intangible assets
|
|
0
|
|
0
|
|
0
|
|
N/M
|
|
0
|
|
0
|
|
0
|
|
N/M
|
Restructuring activities
|
|
69
|
|
104
|
|
(36)
|
|
(34)
|
|
71
|
|
166
|
|
(95)
|
|
(57)
|
Total noninterest expenses
|
|
1,913
|
|
1,992
|
|
(79)
|
|
(4)
|
|
3,718
|
|
3,877
|
|
(159)
|
|
(4)
|
Noncontrolling interests
|
|
0
|
|
(0)
|
|
0
|
|
N/M
|
|
0
|
|
(0)
|
|
0
|
|
N/M
|
Profit (loss) before tax
|
|
(11)
|
|
(257)
|
|
246
|
|
(96)
|
|
263
|
|
(114)
|
|
377
|
|
N/M
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total assets (in € bn)3
|
|
305
|
|
284
|
|
21
|
|
7
|
|
305
|
|
284
|
|
21
|
|
7
|
Loans (gross of allowance for loan losses, in € bn)3
|
|
247
|
|
230
|
|
17
|
|
7
|
|
247
|
|
230
|
|
17
|
|
7
|
Assets under Management (in € bn)3
|
|
535
|
|
471
|
|
64
|
|
14
|
|
535
|
|
471
|
|
64
|
|
14
|
Net flows (in € bn)
|
|
10
|
|
6
|
|
4
|
|
65
|
|
20
|
|
7
|
|
14
|
|
N/M
|
Employees (front office full-time equivalent)3
|
|
29,153
|
|
30,967
|
|
(1,815)
|
|
(6)
|
|
29,153
|
|
30,967
|
|
(1,815)
|
|
(6)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
13
|
|
Deutsche Bank
|
Segment results
|
|
Interim Report as of June 30, 2021
|
|
|
|
|
|
|
Three months ended
|
|
|
|
|
|
Six months ended
|
|
|
|
|
||||
in € m.
|
|
Jun 30, 2021
|
|
Jun 30, 2020
|
|
Absolute
|
|
Change
|
|
Jun 30, 2021
|
|
Jun 30, 2020
|
|
Absolute
|
|
Change
|
Net revenues:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Management Fees
|
|
584
|
|
508
|
|
76
|
|
15
|
|
1,131
|
|
1,061
|
|
71
|
|
7
|
Performance and transaction fees
|
|
19
|
|
20
|
|
(1)
|
|
(7)
|
|
58
|
|
37
|
|
21
|
|
56
|
Other
|
|
23
|
|
21
|
|
2
|
|
9
|
|
73
|
|
(30)
|
|
103
|
|
N/M
|
Total net revenues
|
|
626
|
|
549
|
|
77
|
|
14
|
|
1,263
|
|
1,068
|
|
195
|
|
18
|
Provision for credit losses
|
|
1
|
|
(1)
|
|
2
|
|
N/M
|
|
1
|
|
(0)
|
|
1
|
|
N/M
|
Noninterest expenses:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Compensation and benefits
|
|
202
|
|
204
|
|
(1)
|
|
(1)
|
|
418
|
|
376
|
|
42
|
|
11
|
General and administrative expenses
|
|
192
|
|
189
|
|
2
|
|
1
|
|
380
|
|
386
|
|
(6)
|
|
(2)
|
Impairment of goodwill and other intangible assets
|
|
0
|
|
0
|
|
0
|
|
N/M
|
|
0
|
|
0
|
|
(0)
|
|
N/M
|
Restructuring activities
|
|
1
|
|
7
|
|
(6)
|
|
(88)
|
|
2
|
|
10
|
|
(9)
|
|
(82)
|
Total noninterest expenses
|
|
395
|
|
400
|
|
(5)
|
|
(1)
|
|
800
|
|
774
|
|
27
|
|
3
|
Noncontrolling interests
|
|
49
|
|
36
|
|
13
|
|
37
|
|
98
|
|
70
|
|
27
|
|
39
|
Profit (loss) before tax
|
|
180
|
|
114
|
|
67
|
|
59
|
|
364
|
|
224
|
|
140
|
|
62
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total assets (in € bn)1
|
|
10
|
|
10
|
|
0
|
|
3
|
|
10
|
|
10
|
|
0
|
|
3
|
Assets under Management (in € bn)1
|
|
859
|
|
745
|
|
114
|
|
15
|
|
859
|
|
745
|
|
114
|
|
15
|
Net flows (in € bn)
|
|
20
|
|
9
|
|
11
|
|
127
|
|
21
|
|
6
|
|
14
|
|
N/M
|
Employees (front office full-time equivalent)1
|
|
3,953
|
|
3,901
|
|
52
|
|
1
|
|
3,953
|
|
3,901
|
|
52
|
|
1
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
14
|
|
Deutsche Bank
|
Segment results
|
|
Interim Report as of June 30, 2021
|
|
|
|
|
|
|
Three months ended
|
|
|
|
|
|
Six months ended
|
|
|
|
|
||||
in € m.
|
|
Jun 30, 2021
|
|
Jun 30, 2020
|
|
Absolute
|
|
Change
|
|
Jun 30, 2021
|
|
Jun 30, 2020
|
|
Absolute
|
|
Change
|
Net revenues
|
|
(24)
|
|
(66)
|
|
43
|
|
(64)
|
|
57
|
|
(123)
|
|
180
|
|
N/M
|
Provision for credit losses
|
|
(25)
|
|
29
|
|
(54)
|
|
N/M
|
|
(32)
|
|
43
|
|
(75)
|
|
N/M
|
Noninterest expenses:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Compensation and benefits
|
|
35
|
|
45
|
|
(10)
|
|
(21)
|
|
75
|
|
97
|
|
(22)
|
|
(23)
|
General and administrative expenses
|
|
223
|
|
451
|
|
(228)
|
|
(51)
|
|
681
|
|
1,092
|
|
(412)
|
|
(38)
|
Impairment of goodwill and other intangible assets
|
|
0
|
|
0
|
|
0
|
|
N/M
|
|
0
|
|
0
|
|
0
|
|
N/M
|
Restructuring activities
|
|
1
|
|
(0)
|
|
1
|
|
N/M
|
|
1
|
|
1
|
|
0
|
|
38
|
Total noninterest expenses
|
|
259
|
|
496
|
|
(237)
|
|
(48)
|
|
757
|
|
1,190
|
|
(433)
|
|
(36)
|
Noncontrolling interests
|
|
0
|
|
(0)
|
|
0
|
|
N/M
|
|
0
|
|
(0)
|
|
0
|
|
N/M
|
Profit (loss) before tax
|
|
(258)
|
|
(591)
|
|
334
|
|
(56)
|
|
(668)
|
|
(1,356)
|
|
689
|
|
(51)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total assets (in € bn)1
|
|
167
|
|
265
|
|
(98)
|
|
(37)
|
|
167
|
|
265
|
|
(98)
|
|
(37)
|
Employees (front office full-time equivalent)1
|
|
420
|
|
536
|
|
(116)
|
|
(22)
|
|
420
|
|
536
|
|
(116)
|
|
(22)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
15
|
|
Deutsche Bank
|
Segment results
|
|
Interim Report as of June 30, 2021
|
|
|
|
|
|
|
Three months ended
|
|
|
|
|
|
Six months ended
|
|
|
|
|
||||
in € m.
|
|
Jun 30, 2021
|
|
Jun 30, 2020
|
|
Absolute
|
|
Change
|
|
Jun 30, 2021
|
|
Jun 30, 2020
|
|
Absolute
|
|
Change
|
Net revenues
|
|
(2)
|
|
(118)
|
|
116
|
|
(99)
|
|
241
|
|
(207)
|
|
448
|
|
N/M
|
Provision for credit losses
|
|
(1)
|
|
1
|
|
(2)
|
|
N/M
|
|
(3)
|
|
5
|
|
(7)
|
|
N/M
|
Noninterest expenses:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Compensation and benefits
|
|
870
|
|
944
|
|
(74)
|
|
(8)
|
|
1,762
|
|
1,894
|
|
(133)
|
|
(7)
|
General and administrative expenses
|
|
(789)
|
|
(912)
|
|
122
|
|
(13)
|
|
(1,524)
|
|
(1,749)
|
|
224
|
|
(13)
|
Impairment of goodwill and other intangible assets
|
|
0
|
|
0
|
|
0
|
|
N/M
|
|
0
|
|
0
|
|
0
|
|
N/M
|
Restructuring activities
|
|
(0)
|
|
1
|
|
(1)
|
|
N/M
|
|
(0)
|
|
0
|
|
(0)
|
|
N/M
|
Total noninterest expenses
|
|
81
|
|
34
|
|
47
|
|
140
|
|
237
|
|
145
|
|
92
|
|
63
|
Noncontrolling interests
|
|
(47)
|
|
(42)
|
|
(5)
|
|
12
|
|
(97)
|
|
(75)
|
|
(21)
|
|
28
|
Profit (loss) before tax
|
|
(34)
|
|
(110)
|
|
76
|
|
(69)
|
|
103
|
|
(282)
|
|
385
|
|
N/M
|
Employees (full-time equivalent)1
|
|
38,535
|
|
39,289
|
|
(754)
|
|
(2)
|
|
38,535
|
|
39,289
|
|
(754)
|
|
(2)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
16
|
|
Deutsche Bank
|
Financial position
|
|
Interim Report as of June 30, 2021
|
|
|
|
|
in € m.
|
|
Jun 30, 2021
|
|
Dec 31, 2020
|
|
Absolute
|
|
Change
|
Cash, central bank and interbank balances
|
|
206,627
|
|
175,339
|
|
31,288
|
|
18
|
Central bank funds sold, securities purchased under resale agreements and securities borrowed
|
|
8,551
|
|
8,533
|
|
18
|
|
0
|
Financial assets at fair value through profit or loss
|
|
469,511
|
|
527,980
|
|
(58,469)
|
|
(11)
|
Of which: Trading assets
|
|
112,120
|
|
107,929
|
|
4,191
|
|
4
|
Of which: Positive market values from derivative financial instruments
|
|
273,890
|
|
343,493
|
|
(69,604)
|
|
(20)
|
Of which: Non-trading financial assets mandatory at fair value through profit and loss
|
|
83,412
|
|
76,121
|
|
7,290
|
|
10
|
Financial assets at fair value through other comprehensive income
|
|
37,186
|
|
55,834
|
|
(18,648)
|
|
(33)
|
Loans at amortized cost
|
|
440,747
|
|
426,691
|
|
14,056
|
|
3
|
Remaining assets
|
|
158,112
|
|
130,584
|
|
27,528
|
|
21
|
Of which: Brokerage and securities related receivables
|
|
100,498
|
|
74,564
|
|
25,933
|
|
35
|
Total assets
|
|
1,320,734
|
|
1,324,961
|
|
(4,227)
|
|
(0)
|
|
|
|
|
|
|
|
|
|
in € m.
|
|
Jun 30, 2021
|
|
Dec 31, 2020
|
|
Absolute
|
|
Change
|
Deposits
|
|
581,490
|
|
567,745
|
|
13,745
|
|
2
|
Central bank funds purchased, securities sold under repurchase
|
|
4,267
|
|
4,023
|
|
244
|
|
6
|
Financial liabilities at fair value through profit or loss
|
|
374,167
|
|
419,199
|
|
(45,032)
|
|
(11)
|
Of which: Trading liabilities
|
|
56,121
|
|
44,316
|
|
11,805
|
|
27
|
Of which: Negative market values from derivative financial instruments
|
|
264,564
|
|
327,775
|
|
(63,211)
|
|
(19)
|
Of which: Financial liabilities designated at fair value through profit or loss
|
|
52,921
|
|
46,582
|
|
6,339
|
|
14
|
Other short-term borrowings
|
|
3,428
|
|
3,553
|
|
(125)
|
|
(4)
|
Long-term debt
|
|
149,139
|
|
149,163
|
|
(25)
|
|
(0)
|
Remaining liabilities
|
|
142,838
|
|
119,094
|
|
23,744
|
|
20
|
Of which: Brokerage and securities related payables
|
|
97,841
|
|
79,810
|
|
18,030
|
|
23
|
Total liabilities
|
|
1,255,328
|
|
1,262,777
|
|
(7,449)
|
|
(1)
|
Total equity
|
|
65,406
|
|
62,184
|
|
3,222
|
|
5
|
Total liabilities and equity
|
|
1,320,734
|
|
1,324,961
|
|
(4,227)
|
|
(0)
|
|
|
|
|
|
|
|
|
|
|
|
17
|
|
Deutsche Bank
|
Financial position
|
|
Interim Report as of June 30, 2021
|
|
|
|
|
|
|
18
|
|
Deutsche Bank
|
Strategy
|
|
Interim Report as of June 30, 2021
|
|
|
|
|
|
|
19
|
|
Deutsche Bank
|
Strategy
|
|
Interim Report as of June 30, 2021
|
|
|
|
|
|
|
20
|
|
Deutsche Bank
|
Strategy
|
|
Interim Report as of June 30, 2021
|
|
|
|
|
|
|
21
|
|
Deutsche Bank
|
Strategy
|
|
Interim Report as of June 30, 2021
|
|
|
|
|
|
|
22
|
|
Deutsche Bank
|
Strategy
|
|
Interim Report as of June 30, 2021
|
|
|
|
|
|
|
23
|
|
Deutsche Bank
|
Outlook
|
|
Interim Report as of June 30, 2021
|
|
|
|
|
Economic growth (in %)¹
|
|
2021³
|
|
2020²
|
|
Main driver
|
Global Economy
|
|
|
|
|
|
In the second half of 2021, we believe that an increasing availability of vaccines is expected to help to improve the global pandemic situation. At the beginning of the second half of the year, many economies re-opened, allowing private consumption to gain further momentum in the course of 2021. However, the rapid spread of the delta variant might dampen economic recovery. We expect the global economy to further benefit from buoyant foreign trade. The synchronous recovery, especially in the industrialized countries, could also drive inflation as a result of temporary supply bottlenecks. In some regions, strong fiscal programs are expected to take effect in the second half of 2021.
|
GDP
|
|
6.3
|
|
(3.2)
|
|
|
Inflation
|
|
3.6
|
|
2.6
|
|
|
Of which:
|
|
|
|
|
|
|
Industrialized countries
|
|
|
|
|
|
The industrialized countries’ upswing is expected to gain further momentum, supported by pent-up demand, strong global economic activity and supportive fiscal programs. In the course of the recovery, further price increases are expected, although some of the developments are likely to be temporary. The central banks of the industrialized countries should remain supportive throughout the remainder of 2021, but we expect a discussion about exiting pandemic related monetary policy measures to be initiated in late 2021 as a result of the economic normalization.
|
GDP
|
|
5.6
|
|
(5.0)
|
|
|
Inflation
|
|
2.7
|
|
0.7
|
|
|
Emerging markets
|
|
|
|
|
|
The availability of COVID-19 vaccines is expected to have improved by the end of the year, supporting the recovery. In addition, emerging markets are expected to continue benefiting from positive developments among their trading partners. Nevertheless, emerging market economies are likely to recover at different rates over the course of 2021. In Asia, differentiation and resiliency prevail, with largely positive impulses from export demand. Latin American economies are expected to show a more subdued development.
|
GDP
|
|
6.8
|
|
(1.9)
|
|
|
Inflation
|
|
4.3
|
|
4.0
|
|
|
Eurozone Economy
|
|
|
|
|
|
In the Eurozone, the vaccination campaign continues to progress supporting economic recovery. Economic activity is expected to reach pre-pandemic levels by the end of 2021 as a result of pent-up demand and fiscal stimulus programs. The ECB remains supportive by maintaining its emergency pandemic purchase programs (PEPP). Inflation is expected to pick up significantly, partly due to strong base effects caused by a lower price level in the corresponding months of 2020.
|
GDP
|
|
5.0
|
|
(6.5)
|
|
|
Inflation
|
|
2.1
|
|
0.3
|
|
|
Of which: German economy
|
|
|
|
|
|
Economic growth is expected to pick up strongly in the second half of 2021. Increasing vaccination rates should support the recovery. Combined with strong external demand, pent-up demand is likely to become a major growth driver. However, global supply bottlenecks and price increases for basic materials are expected headwinds for industrial production at the beginning of the second half of the year. The development of consumer prices will remain upwards until the end of the year due to base effects and strong private demand.
|
GDP
|
|
4.0
|
|
(4.8)
|
|
|
Inflation
|
|
2.3
|
|
0.4
|
|
|
US Economy
|
|
|
|
|
|
The U.S. economy is expected to grow dynamically due to massive fiscal stimulus. The economy is set to return to its pre-COVID-19 level during the second half of 2021. The U.S. labor market is expected to continue its recovery, especially as the service sector continues to gain momentum. If the economic backdrop continues to improve and inflation picks up further, the Federal Reserve Bank could announce a tapering of its Quantitative Easing (QE) by the end of 2021.
|
GDP
|
|
6.7
|
|
(3.5)
|
|
|
Inflation
|
|
4.2
|
|
1.2
|
|
|
Japanese Economy
|
|
|
|
|
|
The steady increase of vaccinations should bolster the Japanese economy in the second half of the year. A faster than expected rollout of vaccines should boost private consumption and private capital investment. Amid the increasing concern over inflation worldwide, Japan stands out for its low level of inflation, driven by the still negative output gap. In addition, a shift in the base year of the Consumer Price Index (CPI) is having a dampening effect.
|
GDP
|
|
2.6
|
|
(4.7)
|
|
|
Inflation
|
|
(0.4)
|
|
0.0
|
|
|
Asian Economy4
|
|
|
|
|
|
The acceleration of the COVID-19 vaccine rollout has improved the economic outlook for Asian economies, but progress is uneven across countries. Major economies like China, Singapore, South Korea and Hong Kong, are well on their way to achieving population immunity by the end of the year. Asian economies are expected to benefit from robust external demand. However, domestic demand lacks a more powerful stimulus.
|
GDP
|
|
7.9
|
|
(0.8)
|
|
|
Inflation
|
|
2.2
|
|
2.9
|
|
|
Of which: Chinese Economy
|
|
|
|
|
|
The Chinese economy is expected to benefit from strong external demand and a pick-up in consumer confidence boosted by an acceleration of the vaccine rollout. A tighter fiscal stance should be a headwind for domestic demand. The Peoples Bank of China (PBoC) is expected to cut the policy rate once more by the end of this year.
|
GDP
|
|
8.9
|
|
2.3
|
|
|
Inflation
|
|
1.1
|
|
2.5
|
|
|
|
|
|
|
|
|
|
|
|
24
|
|
Deutsche Bank
|
Outlook
|
|
Interim Report as of June 30, 2021
|
|
|
|
|
Key performance indicators
|
|
Jun 30, 2021
|
|
Target KPI
|
Group post-tax return on average tangible equity1
|
|
7.3 %
|
|
8.0 %
|
Core Bank post-tax return on average tangible equity2
|
|
10.3 %
|
|
above 9.0 %
|
Cost-/income ratio3
|
|
76.7 %
|
|
70.0 %
|
Common Equity Tier 1 capital ratio4
|
|
13.2 %
|
|
above 12.5 %
|
Leverage ratio (fully loaded)5
|
|
4.8 %
|
|
~4.5 %
|
|
|
|
|
|
|
|
25
|
|
Deutsche Bank
|
Outlook
|
|
Interim Report as of June 30, 2021
|
|
|
|
|
|
|
26
|
|
Deutsche Bank
|
Outlook
|
|
Interim Report as of June 30, 2021
|
|
|
|
|
|
|
27
|
|
Deutsche Bank
|
Risks and Opportunities
|
|
Interim Report as of June 30, 2021
|
|
|
|
|
|
|
28
|
|
Deutsche Bank
|
Risks and Opportunities
|
|
Interim Report as of June 30, 2021
|
|
|
|
|
|
|
29
|
|
Deutsche Bank
|
Risks and Opportunities
|
|
Interim Report as of June 30, 2021
|
|
|
|
|
|
|
30
|
|
Deutsche Bank
|
Risk information
|
|
Interim Report as of June 30, 2021
|
|
|
|
|
|
|
31
|
|
Deutsche Bank
|
Risk information
|
|
Interim Report as of June 30, 2021
|
|
|
|
|
Common Equity Tier 1 ratio
|
|
|
30.6.2021
|
|
13.2 %
|
31.12.2020²
|
|
13.6 %
|
|
|
|
Economic capital adequacy ratio
|
|
|
30.6.2021
|
|
184 %
|
31.12.2020
|
|
179 %
|
|
|
|
Leverage ratio (fully loaded)
|
|
|
30.6.2021
|
|
4.8 %
|
31.12.2020
|
|
4.7 %
|
|
|
|
Total loss absorbing capacity (TLAC)
|
|
|
30.6.2021 (Risk Weighted Asset based)
|
|
31.35%
|
30.6.2021 (Leverage Exposure based)
|
|
9.83%
|
31.12.2020 (Risk Weighted Asset based)
|
|
31.99 %
|
31.12.2020 (Leverage Exposure based)
|
|
9.76 %
|
|
|
|
Liquidity coverage ratio (LCR)
|
|
|
30.6.2021
|
|
143 %
|
31.12.2020
|
|
145 %
|
|
|
|
Total risk-weighted assets
|
|
|
30.6.2021
|
|
€ 344.9 bn
|
31.12.2020
|
|
€ 329.0 bn
|
|
|
|
Total economic capital
|
|
|
30.6.2021
|
|
€ 26.9 bn
|
31.12.2020
|
|
€ 28.6 bn
|
|
|
|
Leverage exposure
|
|
|
30.6.2021
|
|
€ 1,100 bn
|
31.12.2020
|
|
€ 1,078 bn
|
|
|
|
Minimum requirement for own funds and eligible liabilities (MREL)
|
||
30.6.2021
|
|
10.59 %
|
31.12.2020
|
|
10.69 %
|
|
|
|
|
|
|
|
|
|
Stressed net liquidity position (sNLP)
|
||
30.6.2021¹
|
|
€ 71.8 bn
|
31.12.2020
|
|
€ 43.0 bn
|
|
|
|
Net Stable Funding Ratio (NSFR)³
|
||
30.6.2021
|
|
>120%
|
|
|
|
|
|
|
|
|
32
|
|
Deutsche Bank
|
Risk information
|
|
Interim Report as of June 30, 2021
|
|
|
|
|
|
|
Jun 30, 2021
|
||||||||||||
in € m.
|
|
Corporate
|
|
Investment
|
|
Private
|
|
Asset
|
|
Capital
|
|
Corporate &
|
|
Total
|
Credit risk
|
|
55,133
|
|
89,129
|
|
69,361
|
|
11,023
|
|
6,798
|
|
18,575
|
|
250,018
|
Settlement risk
|
|
0
|
|
0
|
|
0
|
|
0
|
|
1
|
|
14
|
|
15
|
Credit valuation adjustment (CVA)
|
|
92
|
|
4,176
|
|
184
|
|
173
|
|
1,334
|
|
73
|
|
6,031
|
Market risk
|
|
299
|
|
19,222
|
|
54
|
|
32
|
|
1,187
|
|
1,270
|
|
22,065
|
Operational risk
|
|
6,055
|
|
25,952
|
|
8,463
|
|
3,434
|
|
22,913
|
|
0
|
|
66,816
|
Total
|
|
61,578
|
|
138,479
|
|
78,061
|
|
14,662
|
|
32,233
|
|
19,932
|
|
344,945
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Dec 31, 2020¹
|
||||||||||||
in € m.
|
|
Corporate
|
|
Investment
|
|
Private
|
|
Asset
|
|
Capital
|
|
Corporate &
|
|
Total
|
Credit risk
|
|
50,785
|
|
70,761
|
|
68,353
|
|
6,224
|
|
7,215
|
|
19,372
|
|
222,708
|
Settlement risk
|
|
0
|
|
0
|
|
0
|
|
0
|
|
1
|
|
54
|
|
56
|
Credit valuation adjustment (CVA)
|
|
75
|
|
6,302
|
|
92
|
|
198
|
|
1,599
|
|
125
|
|
8,392
|
Market risk
|
|
385
|
|
24,323
|
|
548
|
|
31
|
|
1,470
|
|
2,139
|
|
28,897
|
Operational risk
|
|
6,029
|
|
27,115
|
|
8,081
|
|
3,544
|
|
24,130
|
|
0
|
|
68,899
|
Total
|
|
57,273
|
|
128,502
|
|
77,074
|
|
9,997
|
|
34,415
|
|
21,690
|
|
328,951
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
33
|
|
Deutsche Bank
|
Risk information
|
|
Interim Report as of June 30, 2021
|
|
|
|
|
in € m.
|
|
Jun 30, 2021
|
|
Dec 31, 2020
|
Total shareholders’ equity per accounting balance sheet (IASB IFRS)
|
|
56,748
|
|
54,774
|
Difference between equity per IASB IFRS / EU IFRS3
|
|
(178)
|
|
12
|
Total shareholders’ equity per accounting balance sheet (EU IFRS)
|
|
56,569
|
|
54,786
|
Deconsolidation/Consolidation of entities
|
|
265
|
|
265
|
Of which:
|
|
|
|
|
Additional paid-in capital
|
|
0
|
|
0
|
Retained earnings
|
|
265
|
|
265
|
Accumulated other comprehensive income (loss), net of tax
|
|
0
|
|
0
|
Total shareholders’ equity per regulatory balance sheet
|
|
56,834
|
|
55,050
|
Minority Interests (amount allowed in consolidated CET 1)
|
|
890
|
|
805
|
Accrual for dividend and AT1 coupons1
|
|
(646)
|
|
(242)
|
Reversal of deconsolidation/consolidation of the position accumulated other comprehensive income (loss), net of tax, during transitional period
|
|
0
|
|
0
|
Common Equity Tier 1 (CET 1) capital before regulatory adjustments
|
|
57,078
|
|
55,613
|
Prudential filters
|
|
(1,799)
|
|
(1,542)
|
Of which:
|
|
|
|
|
Additional value adjustments
|
|
(1,720)
|
|
(1,430)
|
Any increase in equity that results from securitized assets
|
|
(0)
|
|
(1)
|
Fair value reserves related to gains or losses on cash flow hedges and gains or losses on liabilities designated at fair value resulting from changes in own credit standing
|
|
(79)
|
|
(111)
|
Regulatory adjustments relating to unrealized gains and losses pursuant to Art. 467 and 468 CRR
|
|
0
|
|
0
|
Regulatory adjustments
|
|
(9,803)
|
|
(9,186)
|
Of which:
|
|
|
|
|
Goodwill and other intangible assets (net of related tax liabilities) (negative amount)
|
|
(4,714)
|
|
(4,635)
|
Deferred tax assets that rely on future profitability
|
|
(1,527)
|
|
(1,428)
|
Negative amounts resulting from the calculation of expected loss amounts
|
|
(490)
|
|
(99)
|
Defined benefit pension fund assets (net of related tax liabilities) (negative amount)
|
|
(884)
|
|
(772)
|
Direct, indirect and synthetic holdings by the institution of the CET 1 instruments of financial sector entities where the institution has a significant investment in those entities
|
|
0
|
|
0
|
Securitization positions not included in risk-weighted assets
|
|
0
|
|
0
|
Other²
|
|
(2,188)
|
|
(2,252)
|
Common Equity Tier 1 capital
|
|
45,476
|
|
44,885
|
|
|
|
|
|
|
|
34
|
|
Deutsche Bank
|
Risk information
|
|
Interim Report as of June 30, 2021
|
|
|
|
|
|
|
35
|
|
Deutsche Bank
|
Risk information
|
|
Interim Report as of June 30, 2021
|
|
|
|
|
|
Jun 30, 2021
|
|
Dec 31, 2020
|
|
Regulatory capital elements of TLAC/MREL
|
|
|
|
|
Common Equity Tier 1 capital (CET 1)
|
|
45,476
|
|
44,885
|
Additional Tier 1 (AT1) capital instruments eligible under TLAC/MREL
|
|
8,118
|
|
6,848
|
Tier 2 (T2) capital instruments eligible under TLAC/MREL
|
|
|
|
|
Tier 2 (T2) capital instruments before TLAC/MREL adjustments
|
|
7,534
|
|
6,944
|
Tier 2 (T2) capital instruments adjustments for TLAC/MREL
|
|
830
|
|
518
|
Tier 2 (T2) capital instruments eligible under TLAC/MREL
|
|
8,364
|
|
7,462
|
Total regulatory capital elements of TLAC/MREL
|
|
61,958
|
|
59,195
|
|
|
|
|
|
Other elements of TLAC/MREL
|
|
|
|
|
Senior non-preferred plain vanilla
|
|
46,186
|
|
46,048
|
Holdings of eligible liabilities instruments of other G-SIIs (TLAC only)
|
|
0
|
|
–
|
Total Loss Absorbing Capacity (TLAC)
|
|
108,144
|
|
105,243
|
Add back of holdings of eligible liabilities instruments of other G-SIIs (TLAC only)
|
|
0
|
|
0
|
Available Own Funds and subordinated Eligible Liabilities (subordinated MREL)
|
|
108,144
|
|
105,243
|
Senior preferred plain vanilla
|
|
5,065
|
|
3,658
|
Available Minimum Own Funds and Eligible Liabilities (MREL)
|
|
113,209
|
|
108,901
|
|
|
|
|
|
Risk Weighted Assets (RWA)
|
|
344,945
|
|
328,951
|
Leverage Ratio Exposure (LRE)
|
|
1,100,461
|
|
1,078,277
|
Total liabilities and own funds after prudential netting (TLOF)
|
|
1,069,315
|
|
1,018,744
|
|
|
|
|
|
TLAC ratio
|
|
|
|
|
TLAC ratio (as percentage of RWA)
|
|
31.35
|
|
31.99
|
TLAC requirement (as percentage of RWA)
|
|
20.52
|
|
20.52
|
TLAC ratio (as percentage of Leverage Exposure)
|
|
9.83
|
|
9.76
|
TLAC requirement (as percentage of Leverage Exposure)
|
|
6.00
|
|
6.00
|
TLAC surplus over RWA requirement
|
|
37,349
|
|
37,747
|
TLAC surplus over LRE requirement
|
|
42,116
|
|
40,547
|
|
|
|
|
|
MREL subordination
|
|
|
|
|
MREL subordination ratio (as percentage of TLOF)
|
|
10.11
|
|
10.33
|
MREL subordination requirement (as percentage of TLOF)
|
|
6.11
|
|
6.11
|
Surplus over MREL subordination requirement
|
|
42,809
|
|
42,999
|
|
|
|
|
|
MREL ratio
|
|
|
|
|
MREL ratio (as percentage of TLOF)
|
|
10.59
|
|
10.69
|
MREL requirement (as percentage of TLOF)
|
|
8.58
|
|
8.58
|
MREL surplus over requirement
|
|
21,462
|
|
21,494
|
|
|
|
|
|
|
|
36
|
|
Deutsche Bank
|
Risk information
|
|
Interim Report as of June 30, 2021
|
|
|
|
|
|
|
37
|
|
Deutsche Bank
|
Risk information
|
|
Interim Report as of June 30, 2021
|
|
|
|
|
|
|
as of June 2021¹
|
|
||
|
|
Year 1
|
|
Year 2
|
|
Commodity - Gold
|
|
1799.20
|
|
1734.10
|
|
Commodity - WTI
|
|
61.60
|
|
62.60
|
|
Credit - CDX Emerging Markets
|
|
163.30
|
|
194.70
|
|
Credit - CDX High Yield
|
|
240.50
|
|
254.80
|
|
Credit - CDX IG
|
|
48.30
|
|
50.80
|
|
Credit - High Yield Index
|
|
3.30
|
|
3.60
|
|
Credit - ITX Europe 125
|
|
49.70
|
|
56.80
|
|
Equity - MSCI Asia
|
|
1911
|
|
2022
|
|
Equity - Nikkei
|
|
29288
|
|
30549
|
|
Equity - S&P500
|
|
4123
|
|
4387
|
|
GDP - Developing Asia
|
|
8.84 %
|
|
5.45 %
|
|
GDP - Emerging Markets
|
|
7.36 %
|
|
4.91 %
|
|
GDP - Eurozone
|
|
4.83 %
|
|
4.29 %
|
|
GDP - Germany
|
|
6.04 %
|
|
3.00 %
|
|
GDP - Italy
|
|
6.91 %
|
|
3.36 %
|
|
GDP - USA
|
|
8.32 %
|
|
3.38 %
|
|
House Prices - Commercial Real Estate Index
|
|
307.50
|
|
332.40
|
|
Unemployment - Eurozone
|
|
8.18 %
|
|
7.91 %
|
|
Unemployment - Germany
|
|
4.44 %
|
|
4.15 %
|
|
Unemployment - Italy
|
|
10.24 %
|
|
9.85 %
|
|
Unemployment - Japan
|
|
2.87 %
|
|
2.73 %
|
|
Unemployment - Spain
|
|
15.96 %
|
|
15.04 %
|
|
Unemployment - USA
|
|
5.09 %
|
|
4.07 %
|
|
|
|
|
|
|
|
|
|
as of December 20201,2
|
|
||||
|
|
Year 1
|
|
Year 2
|
|
Year 3
|
|
Credit - ITX Europe 125
|
|
52.81
|
|
−
|
|
−
|
|
FX - EUR/USD
|
|
1.20
|
|
−
|
|
−
|
|
GDP - Eurozone
|
|
1.38 %
|
|
4.37 %
|
|
2.32 %
|
|
GDP - Germany
|
|
1.54 %
|
|
4.01 %
|
|
2.08 %
|
|
GDP - Italy
|
|
1.92 %
|
|
3.80 %
|
|
1.93 %
|
|
GDP - USA
|
|
2.80 %
|
|
3.35 %
|
|
2.29 %
|
|
Rate - U.S. Treasury 2y
|
|
0.17 %
|
|
−
|
|
–
|
|
Unemployment - Eurozone
|
|
8.86 %
|
|
8.35 %
|
|
7.94 %
|
|
Unemployment - Germany
|
|
4.30 %
|
|
3.95 %
|
|
3.72 %
|
|
Unemployment - Italy
|
|
10.65 %
|
|
10.38 %
|
|
9.85 %
|
|
Unemployment - Spain
|
|
17.89 %
|
|
16.32 %
|
|
15.49 %
|
|
Unemployment - USA
|
|
6.40 %
|
|
5.19 %
|
|
4.46 %
|
|
|
|
|
|
|
|
|
|
|
|
38
|
|
Deutsche Bank
|
Risk information
|
|
Interim Report as of June 30, 2021
|
|
|
|
|
|
|
39
|
|
Deutsche Bank
|
Risk information
|
|
Interim Report as of June 30, 2021
|
|
|
|
|
|
|
Jun 30, 2021
|
|
Dez 31, 2020
|
|
||||||||
in € m.
|
|
Loans and advances subject to EBA-compliant moratoria
|
|
Loans and advances subject to COVID-19-related forbearance measures
|
|
Newly originated loans and advances subject to public guarantee schemes in the context of the COVID-19 pandemic1
|
|
Loans and advances subject to EBA-compliant moratoria
|
|
Other loans and advances subject to COVID-19-related forbearance measures
|
|
Newly originated loans and advances subject to public guarantee schemes in the context of the COVID-19 pandemic
|
|
Corporate Bank
|
|
566
|
|
2,886
|
|
2,672
|
|
610
|
|
2,956
|
|
2,362
|
|
Investment Bank
|
|
105
|
|
4,266
|
|
60
|
|
107
|
|
4,353
|
|
60
|
|
Private Bank
|
|
7,045
|
|
854
|
|
1,448
|
|
7,499
|
|
1,114
|
|
1,124
|
|
Capital Release Unit
|
|
404
|
|
3
|
|
0
|
|
432
|
|
0
|
|
0
|
|
Total
|
|
8,120
|
|
8,009
|
|
4,180
|
|
8,649
|
|
8,424
|
|
3,546
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Jun 30, 2021
|
|
||||||||||
|
|
Legislative and non-legislative Moratoria
|
|
COVID-19 related forbearance measures
|
|
Public guarantee schemes
|
|
||||||
in € m.
|
|
Gross Carrying Amount
|
|
Expected Credit Losses
|
|
Gross Carrying Amount
|
|
Expected Credit Losses
|
|
Gross Carrying Amount
|
|
Expected Credit Losses
|
|
Stage 1
|
|
5,526
|
|
(15)
|
|
3,281
|
|
(6)
|
|
3,491
|
|
(3)
|
|
Stage 2
|
|
2,149
|
|
(56)
|
|
3,715
|
|
(52)
|
|
603
|
|
(7)
|
|
Stage 3
|
|
445
|
|
(117)
|
|
1,013
|
|
(111)
|
|
85
|
|
(10)
|
|
Total
|
|
8,120
|
|
(188)
|
|
8,009
|
|
(169)
|
|
4,180
|
|
(20)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Dec 31, 2020
|
|
||||||||||
|
|
Legislative and non-legislative Moratoria
|
|
COVID-19 related forbearance measures
|
|
Public guarantee schemes
|
|
||||||
in € m.
|
|
Gross Carrying Amount
|
|
Expected Credit Losses
|
|
Gross Carrying Amount
|
|
Expected Credit Losses
|
|
Gross Carrying Amount
|
|
Expected Credit Losses
|
|
Stage 1
|
|
6,464
|
|
(23)
|
|
5,746
|
|
(18)
|
|
3,135
|
|
(3)
|
|
Stage 2
|
|
1,872
|
|
(63)
|
|
1,994
|
|
(54)
|
|
360
|
|
(4)
|
|
Stage 3
|
|
313
|
|
(69)
|
|
684
|
|
(80)
|
|
51
|
|
(4)
|
|
Total
|
|
8,649
|
|
(155)
|
|
8,424
|
|
(152)
|
|
3,546
|
|
(11)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
40
|
|
Deutsche Bank
|
Risk information
|
|
Interim Report as of June 30, 2021
|
|
|
|
|
|
|
Jun 30, 2021
|
|
Dec 31, 2020
|
||||||||||||||||
in € m.
|
|
Stage 1
|
|
Stage 2
|
|
Stage 3
|
|
Stage 3
|
|
Total
|
|
Stage 1
|
|
Stage 2
|
|
Stage 3
|
|
Stage 3
|
|
Total
|
Amortized cost¹
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Gross carrying amount
|
|
685,750
|
|
42,211
|
|
10,661
|
|
1,439
|
|
740,061
|
|
651,637
|
|
35,372
|
|
10,655
|
|
1,729
|
|
699,393
|
of which: Loans
|
|
392,469
|
|
41,057
|
|
10,118
|
|
1,423
|
|
445,066
|
|
385,422
|
|
34,537
|
|
10,138
|
|
1,710
|
|
431,807
|
Allowance for credit losses²
|
|
448
|
|
634
|
|
3,638
|
|
166
|
|
4,886
|
|
544
|
|
648
|
|
3,614
|
|
139
|
|
4,946
|
of which: Loans
|
|
432
|
|
632
|
|
3,530
|
|
160
|
|
4,754
|
|
522
|
|
647
|
|
3,506
|
|
133
|
|
4,808
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Fair value through OCI
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Fair value
|
|
36,794
|
|
282
|
|
110
|
|
0
|
|
37,186
|
|
55,566
|
|
163
|
|
105
|
|
0
|
|
55,834
|
Allowance for credit losses
|
|
15
|
|
9
|
|
7
|
|
0
|
|
30
|
|
12
|
|
6
|
|
2
|
|
0
|
|
20
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Off-balance sheet
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Notional amount
|
|
265,165
|
|
14,272
|
|
2,164
|
|
18
|
|
281,619
|
|
251,545
|
|
8,723
|
|
2,587
|
|
1
|
|
262,856
|
Allowance for credit losses³
|
|
100
|
|
101
|
|
199
|
|
0
|
|
400
|
|
144
|
|
74
|
|
200
|
|
0
|
|
419
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
41
|
|
Deutsche Bank
|
Additional information
|
|
Interim Report as of June 30, 2021
|
|
|
|
|
|
|
42
|
|
Deutsche Bank
|
Consolidated statement of income
|
|
Interim Report as of June 30, 2021
|
|
|
|
|
|
|
Three months ended
|
|
Six months ended
|
||||
in € m.
|
|
Jun 30, 2021
|
|
Jun 30, 2020
|
|
Jun 30, 2021
|
|
Jun 30, 2020
|
Interest and similar income1
|
|
3,994
|
|
4,527
|
|
8,269
|
|
10,018
|
Interest expense
|
|
1,342
|
|
1,431
|
|
2,820
|
|
3,661
|
Net interest income
|
|
2,652
|
|
3,096
|
|
5,448
|
|
6,357
|
Provision for credit losses
|
|
75
|
|
761
|
|
144
|
|
1,267
|
Net interest income after provision for credit losses
|
|
2,577
|
|
2,334
|
|
5,304
|
|
5,090
|
Commissions and fee income
|
|
2,574
|
|
2,227
|
|
5,313
|
|
4,666
|
Net gains (losses) on financial assets/liabilities at fair value
|
|
983
|
|
708
|
|
2,584
|
|
939
|
Net gains (losses) on derecognition of financial assets measured at amortized cost
|
|
0
|
|
171
|
|
0
|
|
232
|
Net gains (losses) on financial assets at fair value through
|
|
22
|
|
62
|
|
130
|
|
187
|
Net income (loss) from equity method investments
|
|
40
|
|
45
|
|
64
|
|
60
|
Other income (loss)
|
|
(27)
|
|
33
|
|
252
|
|
120
|
Total noninterest income
|
|
3,591
|
|
3,246
|
|
8,343
|
|
6,203
|
Compensation and benefits
|
|
2,551
|
|
2,645
|
|
5,183
|
|
5,334
|
General and administrative expenses
|
|
2,361
|
|
2,599
|
|
5,287
|
|
5,474
|
Impairment of goodwill and other intangible assets
|
|
0
|
|
0
|
|
0
|
|
0
|
Restructuring activities
|
|
86
|
|
123
|
|
102
|
|
197
|
Total noninterest expenses
|
|
4,998
|
|
5,367
|
|
10,572
|
|
11,006
|
Profit (loss) before tax
|
|
1,170
|
|
213
|
|
3,075
|
|
287
|
Income tax expense (benefit)
|
|
333
|
|
129
|
|
995
|
|
207
|
Profit (loss)
|
|
837
|
|
84
|
|
2,081
|
|
80
|
Profit (loss) attributable to noncontrolling interests
|
|
33
|
|
32
|
|
69
|
|
56
|
Profit (loss) attributable to Deutsche Bank shareholders and
|
|
804
|
|
51
|
|
2,012
|
|
24
|
|
|
|
|
|
|
|
|
|
|
|
Three months ended
|
|
Six months ended
|
||||
|
|
Jun 30, 2021
|
|
Jun 30, 2020
|
|
Jun 30, 2021
|
|
Jun 30, 2020
|
Earnings per common share:1,2
|
|
|
|
|
|
|
|
|
Basic
|
|
€ 0.21
|
|
€ (0.14)
|
|
€ 0.79
|
|
€ (0.15)
|
Diluted
|
|
€ 0.21
|
|
€ (0.14)
|
|
€ 0.77
|
|
€ (0.15)
|
Number of shares in million:
|
|
|
|
|
|
|
|
|
Denominator for basic earnings per share – weighted-average shares outstanding
|
|
2,096.4
|
|
2,111.0
|
|
2,096.3
|
|
2,112.9
|
Denominator for diluted earnings per share – adjusted weighted-average shares after assumed conversions
|
|
2,141.8
|
|
2,111.0
|
|
2,137.9
|
|
2,112.9
|
|
|
|
|
|
|
|
|
|
|
|
43
|
|
Deutsche Bank
|
Consolidated statement of income
|
|
Interim Report as of June 30, 2021
|
|
|
|
|
|
|
Three months ended
|
|
Six months ended
|
||||
in € m.
|
|
Jun 30, 2021
|
|
Jun 30, 2020
|
|
Jun 30, 2021
|
|
Jun 30, 2020
|
Profit (loss) recognized in the income statement
|
|
837
|
|
84
|
|
2,081
|
|
80
|
Other comprehensive income
|
|
|
|
|
|
|
|
|
Items that will not be reclassified to profit or loss
|
|
|
|
|
|
|
|
|
Remeasurement gains (losses) related to defined benefit plans, before tax
|
|
287
|
|
(207)
|
|
499
|
|
159
|
Net fair value gains (losses) attributable to credit risk related to financial
|
|
(17)
|
|
93
|
|
(12)
|
|
124
|
Total of income tax related to items that will not be reclassified to profit or loss
|
|
(38)
|
|
186
|
|
(138)
|
|
(86)
|
Items that are or may be reclassified to profit or loss
|
|
|
|
|
|
|
|
|
Financial assets at fair value through other comprehensive
|
|
|
|
|
|
|
|
|
Unrealized net gains (losses) arising during the period, before tax
|
|
(74)
|
|
217
|
|
(325)
|
|
391
|
Realized net (gains) losses arising during the period (reclassified to profit
|
|
(22)
|
|
(62)
|
|
(130)
|
|
(187)
|
Derivatives hedging variability of cash flows
|
|
|
|
|
|
|
|
|
Unrealized net gains (losses) arising during the period, before tax
|
|
(4)
|
|
(14)
|
|
23
|
|
(17)
|
Realized net (gains) losses arising during the period
|
|
(13)
|
|
(1)
|
|
(20)
|
|
(1)
|
Assets classified as held for sale
|
|
|
|
|
|
|
|
|
Unrealized net gains (losses) arising during the period, before tax
|
|
0
|
|
0
|
|
0
|
|
0
|
Realized net (gains) losses arising during the period
|
|
0
|
|
0
|
|
0
|
|
0
|
Foreign currency translation
|
|
|
|
|
|
|
|
|
Unrealized net gains (losses) arising during the period, before tax
|
|
(205)
|
|
(436)
|
|
465
|
|
(449)
|
Realized net (gains) losses arising during the period
|
|
(10)
|
|
0
|
|
(12)
|
|
0
|
Equity Method Investments
|
|
|
|
|
|
|
|
|
Net gains (losses) arising during the period
|
|
(6)
|
|
1
|
|
(6)
|
|
1
|
Total of income tax related to items that are or may be reclassified to
|
|
53
|
|
(47)
|
|
178
|
|
(106)
|
Other comprehensive income (loss), net of tax
|
|
(49)
|
|
(269)
|
|
521
|
|
(171)
|
Total comprehensive income (loss), net of tax
|
|
788
|
|
(186)
|
|
2,602
|
|
(92)
|
Attributable to:
|
|
|
|
|
|
|
|
|
Noncontrolling interests
|
|
27
|
|
13
|
|
96
|
|
47
|
Deutsche Bank shareholders and additional equity components
|
|
760
|
|
(198)
|
|
2,506
|
|
(138)
|
|
|
|
|
|
|
|
|
|
|
|
44
|
|
Deutsche Bank
|
Consolidated balance sheet
|
|
Interim Report as of June 30, 2021
|
|
|
|
|
in € m.
|
|
Jun 30, 2021
|
|
Dec 31, 2020
|
Cash and central bank balances
|
|
198,268
|
|
166,208
|
Interbank balances (without central banks)
|
|
8,359
|
|
9,130
|
Central bank funds sold and securities purchased under resale agreements
|
|
8,519
|
|
8,533
|
Securities borrowed
|
|
33
|
|
0
|
Financial assets at fair value through profit or loss
|
|
|
|
|
Trading assets
|
|
112,120
|
|
107,929
|
Positive market values from derivative financial instruments
|
|
273,890
|
|
343,493
|
Non-trading financial assets mandatory at fair value through profit and loss
|
|
83,412
|
|
76,121
|
Financial assets designated at fair value through profit or loss
|
|
90
|
|
437
|
Total financial assets at fair value through profit or loss
|
|
469,511
|
|
527,980
|
Financial assets at fair value through other comprehensive income
|
|
37,186
|
|
55,834
|
Equity method investments
|
|
1,110
|
|
901
|
Loans at amortized cost
|
|
440,747
|
|
426,691
|
Property and equipment
|
|
5,378
|
|
5,549
|
Goodwill and other intangible assets
|
|
6,846
|
|
6,725
|
Other assets1
|
|
137,941
|
|
110,360
|
Assets for current tax
|
|
1,036
|
|
986
|
Deferred tax assets
|
|
5,800
|
|
6,063
|
Total assets
|
|
1,320,734
|
|
1,324,961
|
|
|
|
|
|
in € m.
|
|
Jun 30, 2021
|
|
Dec 31, 2020
|
Deposits
|
|
581,490
|
|
567,745
|
Central bank funds purchased and securities sold under repurchase agreements
|
|
3,144
|
|
2,325
|
Securities loaned
|
|
1,123
|
|
1,697
|
Financial liabilities at fair value through profit or loss
|
|
|
|
|
Trading liabilities
|
|
56,121
|
|
44,316
|
Negative market values from derivative financial instruments
|
|
264,564
|
|
327,775
|
Financial liabilities designated at fair value through profit or loss
|
|
52,921
|
|
46,582
|
Investment contract liabilities
|
|
560
|
|
526
|
Total financial liabilities at fair value through profit or loss
|
|
374,167
|
|
419,199
|
Other short-term borrowings
|
|
3,428
|
|
3,553
|
Other liabilities1
|
|
137,847
|
|
114,208
|
Provisions
|
|
2,556
|
|
2,430
|
Liabilities for current tax
|
|
884
|
|
574
|
Deferred tax liabilities
|
|
507
|
|
561
|
Long-term debt
|
|
149,139
|
|
149,163
|
Trust preferred securities
|
|
1,044
|
|
1,321
|
Total liabilities
|
|
1,255,328
|
|
1,262,777
|
Common shares, no par value, nominal value of € 2.56
|
|
5,291
|
|
5,291
|
Additional paid-in capital
|
|
40,460
|
|
40,606
|
Retained earnings
|
|
12,004
|
|
10,002
|
Common shares in treasury, at cost
|
|
(28)
|
|
(7)
|
Accumulated other comprehensive income (loss), net of tax
|
|
(979)
|
|
(1,118)
|
Total shareholders’ equity
|
|
56,748
|
|
54,774
|
Additional equity components
|
|
7,068
|
|
5,824
|
Noncontrolling interests
|
|
1,591
|
|
1,587
|
Total equity
|
|
65,406
|
|
62,184
|
Total liabilities and equity
|
|
1,320,734
|
|
1,324,961
|
|
|
|
|
|
|
|
45
|
|
Deutsche Bank
|
Consolidated statement of changes in equity
|
|
Interim Report as of June 30, 2021
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Unrealized net gains (losses)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||
in € m.
|
|
Common shares
|
|
Additional
|
|
Retained
|
|
Common shares
|
|
On financial
|
|
Attributable to
|
|
On
|
|
On assets
|
|
Foreign
|
|
Unrealized
|
|
Accumula-
|
|
Total
|
|
Additional
|
|
Noncontrolling
|
|
Total equity
|
Balance as of December 31, 2019
|
|
5,291
|
|
40,505
|
|
9,644
|
|
(4)
|
|
45
|
|
25
|
|
14
|
|
0
|
|
336
|
|
0
|
|
421
|
|
55,857
|
|
4,665
|
|
1,638
|
|
62,160
|
Total comprehensive income (loss), net of tax1
|
|
0
|
|
0
|
|
24
|
|
0
|
|
113
|
|
91
|
|
(13)
|
|
0
|
|
(460)
|
|
(1)
|
|
(270)
|
|
(246)
|
|
0
|
|
47
|
|
(199)
|
Gains (losses) attributable to equity instruments designated as at fair value through other comprehensive income, net of tax
|
|
0
|
|
0
|
|
0
|
|
0
|
|
0
|
|
0
|
|
0
|
|
0
|
|
0
|
|
0
|
|
0
|
|
0
|
|
0
|
|
0
|
|
0
|
Gains (losses) upon early extinguishment attributable to change in own credit risk of financial liabilities designated as at fair value through profit and loss, net of tax
|
|
0
|
|
0
|
|
0
|
|
0
|
|
0
|
|
0
|
|
0
|
|
0
|
|
0
|
|
0
|
|
0
|
|
0
|
|
0
|
|
0
|
|
0
|
Cash dividends paid
|
|
0
|
|
0
|
|
0
|
|
0
|
|
0
|
|
0
|
|
0
|
|
0
|
|
0
|
|
0
|
|
0
|
|
0
|
|
0
|
|
0
|
|
0
|
Coupon on additional equity components, before tax
|
|
0
|
|
0
|
|
(349)4
|
|
0
|
|
0
|
|
0
|
|
0
|
|
0
|
|
0
|
|
0
|
|
0
|
|
(349)4
|
|
0
|
|
0
|
|
(349)
|
Remeasurement gains (losses) related to defined benefit plans, net of tax
|
|
0
|
|
0
|
|
107
|
|
0
|
|
0
|
|
0
|
|
0
|
|
0
|
|
0
|
|
0
|
|
0
|
|
107
|
|
0
|
|
(1)
|
|
107
|
Net change in share awards in the reporting period
|
|
0
|
|
(141)
|
|
0
|
|
0
|
|
0
|
|
0
|
|
0
|
|
0
|
|
0
|
|
0
|
|
0
|
|
(141)
|
|
0
|
|
(3)
|
|
(144)
|
Treasury shares distributed under share-based compensation plans
|
|
0
|
|
0
|
|
0
|
|
139
|
|
0
|
|
0
|
|
0
|
|
0
|
|
0
|
|
0
|
|
0
|
|
139
|
|
0
|
|
0
|
|
139
|
Tax benefits related to share-based compensation plans
|
|
0
|
|
0
|
|
0
|
|
0
|
|
0
|
|
0
|
|
0
|
|
0
|
|
0
|
|
0
|
|
0
|
|
0
|
|
0
|
|
0
|
|
0
|
Option premiums and other effects from options on common shares
|
|
0
|
|
0
|
|
0
|
|
0
|
|
0
|
|
0
|
|
0
|
|
0
|
|
0
|
|
0
|
|
0
|
|
0
|
|
0
|
|
0
|
|
0
|
Purchases of treasury shares
|
|
0
|
|
0
|
|
0
|
|
(255)
|
|
0
|
|
0
|
|
0
|
|
0
|
|
0
|
|
0
|
|
0
|
|
(255)
|
|
0
|
|
0
|
|
(255)
|
Sale of treasury shares
|
|
0
|
|
0
|
|
0
|
|
64
|
|
0
|
|
0
|
|
0
|
|
0
|
|
0
|
|
0
|
|
0
|
|
64
|
|
0
|
|
0
|
|
64
|
Net gains (losses) on treasury shares sold
|
|
0
|
|
0
|
|
0
|
|
0
|
|
0
|
|
0
|
|
0
|
|
0
|
|
0
|
|
0
|
|
0
|
|
0
|
|
0
|
|
0
|
|
0
|
Other
|
|
0
|
|
120
|
|
0
|
|
0
|
|
0
|
|
0
|
|
0
|
|
0
|
|
0
|
|
0
|
|
0
|
|
120
|
|
1,161
5
|
|
(34)
|
|
1,248
|
Balance as of June 30, 2020
|
|
5,291
|
|
40,484
|
|
9,427
|
|
(56)
|
|
158
|
|
116
|
|
1
|
|
0
|
|
(123)
|
|
(1)
|
|
151
|
|
55,297
|
|
5,826
|
|
1,648
|
|
62,771
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Balance as of December 31, 2020
|
|
5,291
|
|
40,606
|
|
10,002
|
|
(7)
|
|
278
|
|
7
|
|
7
|
|
0
|
|
(1,411)
|
|
(1)
|
|
(1,118)
|
|
54,774
|
|
5,824
|
|
1,587
|
|
62,184
|
Total comprehensive income (loss), net of tax1
|
|
0
|
|
0
|
|
2,012
|
|
0
|
|
(322)
|
|
(8)
|
|
1
|
|
0
|
|
475
|
|
(6)
|
|
139
|
|
2,151
|
|
0
|
|
94
|
|
2,245
|
Gains (losses) attributable to equity instruments designated as at fair value through other comprehensive income, net of tax
|
|
0
|
|
0
|
|
0
|
|
0
|
|
0
|
|
0
|
|
0
|
|
0
|
|
0
|
|
0
|
|
0
|
|
0
|
|
0
|
|
0
|
|
0
|
Gains (losses) upon early extinguishment attributable to change in own credit risk
|
|
0
|
|
0
|
|
(2)
|
|
0
|
|
0
|
|
0
|
|
0
|
|
0
|
|
0
|
|
0
|
|
0
|
|
(2)
|
|
0
|
|
0
|
|
(2)
|
Cash dividends paid
|
|
0
|
|
0
|
|
0
|
|
0
|
|
0
|
|
0
|
|
0
|
|
0
|
|
0
|
|
0
|
|
0
|
|
0
|
|
0
|
|
(79)
|
|
(79)
|
Coupon on additional equity components, before tax
|
|
0
|
|
0
|
|
(363)4
|
|
0
|
|
0
|
|
0
|
|
0
|
|
0
|
|
0
|
|
0
|
|
0
|
|
(363)4
|
|
0
|
|
0
|
|
(363)
|
Remeasurement gains (losses) related to defined benefit plans, net of tax
|
|
0
|
|
0
|
|
355
|
|
0
|
|
0
|
|
0
|
|
0
|
|
0
|
|
0
|
|
0
|
|
0
|
|
355
|
|
0
|
|
3
|
|
357
|
Net change in share awards in the reporting period
|
|
0
|
|
(218)
|
|
0
|
|
0
|
|
0
|
|
0
|
|
0
|
|
0
|
|
0
|
|
0
|
|
0
|
|
(218)
|
|
0
|
|
(2)
|
|
(219)
|
Treasury shares distributed under share-based compensation plans
|
|
0
|
|
0
|
|
0
|
|
248
|
|
0
|
|
0
|
|
0
|
|
0
|
|
0
|
|
0
|
|
0
|
|
248
|
|
0
|
|
0
|
|
248
|
Tax benefits related to share-based compensation plans
|
|
0
|
|
15
|
|
0
|
|
0
|
|
0
|
|
0
|
|
0
|
|
0
|
|
0
|
|
0
|
|
0
|
|
15
|
|
0
|
|
0
|
|
15
|
Option premiums and other effects from options on common shares
|
|
0
|
|
(50)
|
|
0
|
|
0
|
|
0
|
|
0
|
|
0
|
|
0
|
|
0
|
|
0
|
|
0
|
|
(50)
|
|
0
|
|
0
|
|
(50)
|
Purchases of treasury shares
|
|
0
|
|
0
|
|
0
|
|
(289)
|
|
0
|
|
0
|
|
0
|
|
0
|
|
0
|
|
0
|
|
0
|
|
(289)
|
|
0
|
|
0
|
|
(289)
|
Sale of treasury shares
|
|
0
|
|
0
|
|
0
|
|
20
|
|
0
|
|
0
|
|
0
|
|
0
|
|
0
|
|
0
|
|
0
|
|
20
|
|
0
|
|
0
|
|
20
|
Net gains (losses) on treasury shares sold
|
|
0
|
|
0
|
|
0
|
|
0
|
|
0
|
|
0
|
|
0
|
|
0
|
|
0
|
|
0
|
|
0
|
|
0
|
|
0
|
|
0
|
|
0
|
Other
|
|
0
|
|
107
|
|
0
|
|
0
|
|
0
|
|
0
|
|
0
|
|
0
|
|
0
|
|
0
|
|
0
|
|
107
|
|
1,243
5
|
|
(11)
|
|
1,340
|
Balance as of June 30, 2021
|
|
5,291
|
|
40,460
|
|
12,004
|
|
(28)
|
|
(44)
|
|
(1)
|
|
8
|
|
0
|
|
(935)
|
|
(7)
|
|
(979)
|
|
56,748
|
|
7,068
|
|
1,591
|
|
65,406
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
46
|
|
Deutsche Bank
|
Consolidated statement of cash flows
|
|
Interim Report as of June 30, 2021
|
|
|
|
|
|
|
Six months ended
|
||
in € m.
|
|
Jun 30, 2021
|
|
Jun 30, 2020
|
Profit (loss)
|
|
2,081
|
|
80
|
Cash flows from operating activities:
|
|
|
|
|
Adjustments to reconcile profit (loss) to net cash provided by (used in) operating activities:
|
|
|
|
|
Provision for credit losses
|
|
144
|
|
1,267
|
Restructuring activities
|
|
102
|
|
197
|
Gain on sale of financial assets at fair value through other comprehensive income, equity method investments and other
|
|
(160)
|
|
(411)
|
Deferred income taxes, net
|
|
326
|
|
(113)
|
Impairment, depreciation and other amortization, and accretion
|
|
1,598
|
|
952
|
Share of net income (loss) from equity method investments
|
|
(109)
|
|
(60)
|
Profit (loss) adjusted for noncash charges, credits and other items
|
|
3,982
|
|
1,912
|
Adjustments for net change in operating assets and liabilities:
|
|
|
|
|
Interest-earning time deposits with central banks and banks
|
|
1,599
|
|
(632)
|
Central bank funds sold, securities purchased under resale agreements, securities borrowed
|
|
(18)
|
|
7,374
|
Non-Trading financial assets mandatory at fair value through profit and loss
|
|
(5,821)
|
|
3,506
|
Financial assets designated at fair value through profit or loss
|
|
352
|
|
(377)
|
Loans at amortized cost
|
|
(12,908)
|
|
(7,511)
|
Other assets
|
|
(30,090)
|
|
(43,497)
|
Deposits
|
|
12,927
|
|
762
|
Financial liabilities designated at fair value through profit or loss and investment contract liabilities1
|
|
5,936
|
|
3,483
|
Central bank funds purchased, securities sold under repurchase agreements and securities loaned
|
|
248
|
|
4,141
|
Other short-term borrowings
|
|
(126)
|
|
(1,229)
|
Other liabilities
|
|
24,841
|
|
40,054
|
Senior long-term debt2
|
|
(980)
|
|
17,332
|
Trading assets and liabilities, positive and negative market values from derivative financial instruments, net
|
|
14,096
|
|
(1,045)
|
Other, net
|
|
(332)
|
|
(59)
|
Net cash provided by (used in) operating activities
|
|
13,705
|
|
24,214
|
Cash flows from investing activities:
|
|
|
|
|
Proceeds from:
|
|
|
|
|
Sale of financial assets at fair value through other comprehensive income
|
|
35,066
|
|
21,931
|
Maturities of financial assets at fair value through other comprehensive income
|
|
11,862
|
|
19,190
|
Sale of debt securities held to collect at amortized cost
|
|
42
|
|
6,663
|
Maturities of debt securities held to collect at amortized cost
|
|
3,124
|
|
2,106
|
Sale of equity method investments
|
|
17
|
|
29
|
Sale of property and equipment
|
|
103
|
|
4
|
Purchase of:
|
|
|
|
|
Financial assets at fair value through other comprehensive income
|
|
(28,991)
|
|
(41,614)
|
Debt Securities held to collect at amortized cost
|
|
(3,089)
|
|
(2,098)
|
Equity method investments
|
|
(84)
|
|
(3)
|
Property and equipment
|
|
(249)
|
|
(181)
|
Net cash received in (paid for) business combinations/divestitures
|
|
0
|
|
2
|
Other, net
|
|
(503)
|
|
(436)
|
Net cash provided by (used in) investing activities
|
|
17,299
|
|
5,593
|
Cash flows from financing activities:
|
|
|
|
|
Issuances of subordinated long-term debt
|
|
1,070
3
|
|
22
|
Repayments and extinguishments of subordinated long-term debt
|
|
(25)3
|
|
(1,131)
|
Issuances of trust preferred securities
|
|
0
4
|
|
0
|
Repayments and extinguishments of trust preferred securities
|
|
(4)4
|
|
(711)
|
Principal portion of lease payments
|
|
(353)
|
|
(311)
|
Common shares issued
|
|
0
|
|
0
|
Purchases of treasury shares
|
|
(289)
|
|
(255)
|
Sale of treasury shares
|
|
20
|
|
52
|
Additional Equity Components (AT1) issued
|
|
1,250
|
|
1,153
|
Purchases of Additional Equity Components (AT1)
|
|
(2,446)
|
|
(731)
|
Sale of Additional Equity Components (AT1)
|
|
2,450
|
|
723
|
Coupon on additional equity components, pre tax
|
|
(363)
|
|
(349)
|
Dividends paid to noncontrolling interests
|
|
(79)
|
|
0
|
Net change in noncontrolling interests
|
|
(11)
|
|
(34)
|
Cash dividends paid to Deutsche Bank shareholders
|
|
0
|
|
0
|
Other, net
|
|
0
|
|
0
|
Net cash provided by (used in) financing activities
|
|
1,221
|
|
(1,572)
|
Net effect of exchange rate changes on cash and cash equivalents
|
|
442
|
|
472
|
Net increase (decrease) in cash and cash equivalents
|
|
32,667
|
|
28,709
|
Cash and cash equivalents at beginning of period
|
|
156,328
|
|
128,869
|
Cash and cash equivalents at end of period
|
|
188,996
|
|
157,578
|
|
|
47
|
|
Deutsche Bank
|
Consolidated statement of cash flows
|
|
Interim Report as of June 30, 2021
|
|
|
|
|
|
|
Six months ended
|
||
in € m.
|
|
Jun 30, 2021
|
|
Jun 30, 2020
|
Net cash provided by (used in) operating activities including
|
|
|
|
|
Income taxes paid (received), net
|
|
386
|
|
363
|
Interest paid
|
|
2,808
|
|
4,403
|
Interest received
|
|
7,626
|
|
10,496
|
Dividends received
|
|
173
|
|
245
|
Cash and cash equivalents comprise
|
|
|
|
|
Cash and central bank balances (not included: Interest-earning time deposits with central banks of € 16.1 billion as of June 30, 2021 and € 16.8 billion as of June 30, 2020)
|
|
182,195
|
|
149,447
|
Interbank balances (w/o central banks) (not included: Interest-earning time deposits with banks of € 1.6 billion as of June 30, 2021 and 2.0 billion as of June 30, 2020)
|
|
6,801
|
|
8,131
|
Total
|
|
188,996
|
|
157,578
|
|
|
|
|
|
|
|
48
|
|
Deutsche Bank
|
Basis of preparation/impact of changes in accounting principles
|
|
Interim Report as of June 30, 2021
|
|
|
|
|
|
|
49
|
|
Deutsche Bank
|
Basis of preparation/impact of changes in accounting principles
|
|
Interim Report as of June 30, 2021
|
|
|
|
|
|
|
50
|
|
Deutsche Bank
|
Basis of preparation/impact of changes in accounting principles
|
|
Interim Report as of June 30, 2021
|
|
|
|
|
|
|
51
|
|
Deutsche Bank
|
Basis of preparation/impact of changes in accounting principles
|
|
Interim Report as of June 30, 2021
|
|
|
|
|
|
|
52
|
|
Deutsche Bank
|
Impact of COVID-19
|
|
Interim Report as of June 30, 2021
|
|
|
|
|
|
|
53
|
|
Deutsche Bank
|
Impact of COVID-19
|
|
Interim Report as of June 30, 2021
|
|
|
|
|
|
|
54
|
|
Deutsche Bank
|
Impact of Deutsche Bank’s transformation
|
|
Interim Report as of June 30, 2021
|
|
|
|
|
|
|
55
|
|
Deutsche Bank
|
Segment results
|
|
Interim Report as of June 30, 2021
|
|
|
|
|
|
|
Three months ended Jun 30, 2021
|
||||||||||||
in € m.
|
|
Corporate
|
|
Investment
|
|
Private
|
|
Asset
|
|
Capital
|
|
Corporate &
|
|
Total
|
Net revenues
|
|
1,230
|
|
2,394
|
|
2,018
|
|
626
|
|
(24)
|
|
(2)
|
|
6,243
|
Provision for credit losses
|
|
(20)
|
|
2
|
|
117
|
|
1
|
|
(25)
|
|
(1)
|
|
75
|
Noninterest expenses:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Compensation and benefits
|
|
271
|
|
491
|
|
682
|
|
202
|
|
35
|
|
870
|
|
2,551
|
General and administrative expenses
|
|
729
|
|
844
|
|
1,162
|
|
192
|
|
223
|
|
(789)
|
|
2,361
|
Impairment of goodwill and other intangible assets
|
|
0
|
|
0
|
|
0
|
|
0
|
|
0
|
|
0
|
|
0
|
Restructuring activities
|
|
5
|
|
11
|
|
69
|
|
1
|
|
1
|
|
(0)
|
|
86
|
Total noninterest expenses
|
|
1,004
|
|
1,346
|
|
1,913
|
|
395
|
|
259
|
|
81
|
|
4,998
|
Noncontrolling interests
|
|
0
|
|
(2)
|
|
0
|
|
49
|
|
0
|
|
(47)
|
|
0
|
Profit (loss) before tax
|
|
246
|
|
1,047
|
|
(11)
|
|
180
|
|
(258)
|
|
(34)
|
|
1,170
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three months ended Jun 30, 2020
|
||||||||||||
|
Corporate
|
|
Investment
|
|
Private
|
|
Asset
|
|
Capital
|
|
Corporate &
|
|
Total
|
|
Net revenues
|
|
1,341
|
|
2,676
|
|
1,960
|
|
549
|
|
(66)
|
|
(118)
|
|
6,342
|
Provision for credit losses
|
|
144
|
|
364
|
|
225
|
|
(1)
|
|
29
|
|
1
|
|
761
|
Noninterest expenses:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Compensation and benefits
|
|
260
|
|
464
|
|
728
|
|
204
|
|
45
|
|
944
|
|
2,645
|
General and administrative expenses
|
|
859
|
|
852
|
|
1,160
|
|
189
|
|
451
|
|
(912)
|
|
2,599
|
Impairment of goodwill and other intangible assets
|
|
0
|
|
0
|
|
0
|
|
0
|
|
0
|
|
0
|
|
0
|
Restructuring activities
|
|
0
|
|
11
|
|
104
|
|
7
|
|
(0)
|
|
1
|
|
123
|
Total noninterest expenses
|
|
1,120
|
|
1,327
|
|
1,992
|
|
400
|
|
496
|
|
34
|
|
5,367
|
Noncontrolling interests
|
|
0
|
|
6
|
|
(0)
|
|
36
|
|
(0)
|
|
(42)
|
|
0
|
Profit (loss) before tax
|
|
78
|
|
979
|
|
(257)
|
|
114
|
|
(591)
|
|
(110)
|
|
213
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Six months ended Jun 30, 2021
|
||||||||||||
|
Corporate
|
|
Investment
|
|
Private
|
|
Asset
|
|
Capital
|
|
Corporate &
|
|
Total
|
|
Net revenues
|
|
2,544
|
|
5,491
|
|
4,196
|
|
1,263
|
|
57
|
|
241
|
|
13,792
|
Provision for credit losses
|
|
(40)
|
|
3
|
|
215
|
|
1
|
|
(32)
|
|
(3)
|
|
144
|
Noninterest expenses:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Compensation and benefits
|
|
545
|
|
982
|
|
1,401
|
|
418
|
|
75
|
|
1,762
|
|
5,183
|
General and administrative expenses
|
|
1,547
|
|
1,958
|
|
2,246
|
|
380
|
|
681
|
|
(1,524)
|
|
5,287
|
Impairment of goodwill and other intangible assets
|
|
0
|
|
0
|
|
0
|
|
0
|
|
0
|
|
0
|
|
0
|
Restructuring activities
|
|
17
|
|
12
|
|
71
|
|
2
|
|
1
|
|
(0)
|
|
102
|
Total noninterest expenses
|
|
2,109
|
|
2,951
|
|
3,718
|
|
800
|
|
757
|
|
237
|
|
10,572
|
Noncontrolling interests
|
|
0
|
|
(1)
|
|
0
|
|
98
|
|
0
|
|
(97)
|
|
0
|
Profit (loss) before tax
|
|
475
|
|
2,538
|
|
263
|
|
364
|
|
(668)
|
|
103
|
|
3,075
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Six months ended Jun 30, 2020
|
||||||||||||
|
Corporate
|
|
Investment
|
|
Private
|
|
Asset
|
|
Capital
|
|
Corporate &
|
|
Total
|
|
Net revenues
|
|
2,666
|
|
5,030
|
|
4,127
|
|
1,068
|
|
(123)
|
|
(207)
|
|
12,560
|
Provision for credit losses
|
|
250
|
|
607
|
|
364
|
|
(0)
|
|
43
|
|
5
|
|
1,267
|
Noninterest expenses:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Compensation and benefits
|
|
541
|
|
959
|
|
1,467
|
|
376
|
|
97
|
|
1,894
|
|
5,334
|
General and administrative expenses
|
|
1,671
|
|
1,828
|
|
2,244
|
|
386
|
|
1,092
|
|
(1,749)
|
|
5,474
|
Impairment of goodwill and other intangible assets
|
|
0
|
|
0
|
|
0
|
|
0
|
|
0
|
|
0
|
|
0
|
Restructuring activities
|
|
5
|
|
15
|
|
166
|
|
10
|
|
1
|
|
0
|
|
197
|
Total noninterest expenses
|
|
2,217
|
|
2,802
|
|
3,877
|
|
774
|
|
1,190
|
|
145
|
|
11,006
|
Noncontrolling interests
|
|
0
|
|
5
|
|
(0)
|
|
70
|
|
(0)
|
|
(75)
|
|
0
|
Profit (loss) before tax
|
|
199
|
|
1,616
|
|
(114)
|
|
224
|
|
(1,356)
|
|
(282)
|
|
287
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
56
|
|
Deutsche Bank
|
Segment results
|
|
Interim Report as of June 30, 2021
|
|
|
|
|
|
|
Three months ended
|
|
|
|
|
|
Six months ended
|
|
|
|
|
||||
in € m.
|
|
Jun 30, 2021
|
|
Jun 30, 2020
|
|
Absolute
|
|
Change
|
|
Jun 30, 2021
|
|
Jun 30, 2020
|
|
Absolute
|
|
Change
|
Net revenues:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Corporate Treasury Services
|
|
728
|
|
813
|
|
(85)
|
|
(10)
|
|
1,524
|
|
1,613
|
|
(89)
|
|
(6)
|
Institutional Client Services
|
|
322
|
|
336
|
|
(14)
|
|
(4)
|
|
650
|
|
672
|
|
(22)
|
|
(3)
|
Business Banking
|
|
180
|
|
193
|
|
(13)
|
|
(7)
|
|
370
|
|
381
|
|
(11)
|
|
(3)
|
Total net revenues
|
|
1,230
|
|
1,341
|
|
(111)
|
|
(8)
|
|
2,544
|
|
2,666
|
|
(122)
|
|
(5)
|
Of which:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net interest income
|
|
543
|
|
822
|
|
(279)
|
|
(34)
|
|
1,250
|
|
1,525
|
|
(275)
|
|
(18)
|
Commissions and fee income
|
|
534
|
|
512
|
|
22
|
|
4
|
|
1,081
|
|
1,043
|
|
38
|
|
4
|
Remaining income
|
|
153
|
|
8
|
|
146
|
|
N/M
|
|
213
|
|
98
|
|
114
|
|
116
|
Provision for credit losses
|
|
(20)
|
|
144
|
|
(163)
|
|
N/M
|
|
(40)
|
|
250
|
|
(290)
|
|
N/M
|
Noninterest expenses:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Compensation and benefits
|
|
271
|
|
260
|
|
11
|
|
4
|
|
545
|
|
541
|
|
4
|
|
1
|
General and administrative expenses
|
|
729
|
|
859
|
|
(130)
|
|
(15)
|
|
1,547
|
|
1,671
|
|
(124)
|
|
(7)
|
Impairment of goodwill and other intangible assets
|
|
0
|
|
0
|
|
0
|
|
N/M
|
|
0
|
|
0
|
|
0
|
|
N/M
|
Restructuring activities
|
|
5
|
|
0
|
|
4
|
|
N/M
|
|
17
|
|
5
|
|
12
|
|
N/M
|
Total noninterest expenses
|
|
1,004
|
|
1,120
|
|
(115)
|
|
(10)
|
|
2,109
|
|
2,217
|
|
(109)
|
|
(5)
|
Noncontrolling interests
|
|
0
|
|
0
|
|
0
|
|
N/M
|
|
0
|
|
0
|
|
0
|
|
N/M
|
Profit (loss) before tax
|
|
246
|
|
78
|
|
168
|
|
N/M
|
|
475
|
|
199
|
|
276
|
|
139
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total assets (in € bn)1
|
|
245
|
|
241
|
|
5
|
|
2
|
|
245
|
|
241
|
|
5
|
|
2
|
Loans (gross of allowance for loan losses, in € bn)1
|
|
116
|
|
120
|
|
(4)
|
|
(3)
|
|
116
|
|
120
|
|
(4)
|
|
(3)
|
Employees (front office full-time equivalent)1
|
|
7,524
|
|
7,860
|
|
(336)
|
|
(4)
|
|
7,524
|
|
7,860
|
|
(336)
|
|
(4)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three months ended
|
|
|
|
|
|
Six months ended
|
|
|
|
|
||||
in € m.
|
|
Jun 30, 2021
|
|
Jun 30, 2020
|
|
Absolute
|
|
Change
|
|
Jun 30, 2021
|
|
Jun 30, 2020
|
|
Absolute
|
|
Change
|
Net revenues:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Fixed Income, Currency (FIC) Sales & Trading
|
|
1,811
|
|
2,030
|
|
(220)
|
|
(11)
|
|
4,280
|
|
3,884
|
|
396
|
|
10
|
Debt Origination
|
|
399
|
|
450
|
|
(51)
|
|
(11)
|
|
785
|
|
811
|
|
(26)
|
|
(3)
|
Equity Origination
|
|
115
|
|
118
|
|
(4)
|
|
(3)
|
|
313
|
|
136
|
|
177
|
|
131
|
Advisory
|
|
111
|
|
42
|
|
69
|
|
166
|
|
181
|
|
104
|
|
77
|
|
74
|
Origination & Advisory
|
|
624
|
|
610
|
|
14
|
|
2
|
|
1,279
|
|
1,051
|
|
228
|
|
22
|
Other
|
|
(41)
|
|
36
|
|
(77)
|
|
N/M
|
|
(68)
|
|
95
|
|
(163)
|
|
N/M
|
Total net revenues
|
|
2,394
|
|
2,676
|
|
(283)
|
|
(11)
|
|
5,491
|
|
5,030
|
|
461
|
|
9
|
Provision for credit losses
|
|
2
|
|
364
|
|
(362)
|
|
(99)
|
|
3
|
|
607
|
|
(604)
|
|
(100)
|
Noninterest expenses:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Compensation and benefits
|
|
491
|
|
464
|
|
26
|
|
6
|
|
982
|
|
959
|
|
23
|
|
2
|
General and administrative expenses
|
|
844
|
|
852
|
|
(7)
|
|
(1)
|
|
1,958
|
|
1,828
|
|
129
|
|
7
|
Impairment of goodwill and other intangible assets
|
|
0
|
|
0
|
|
0
|
|
N/M
|
|
0
|
|
0
|
|
0
|
|
N/M
|
Restructuring activities
|
|
11
|
|
11
|
|
0
|
|
1
|
|
12
|
|
15
|
|
(3)
|
|
(19)
|
Total noninterest expenses
|
|
1,346
|
|
1,327
|
|
19
|
|
1
|
|
2,951
|
|
2,802
|
|
150
|
|
5
|
Noncontrolling interests
|
|
(2)
|
|
6
|
|
(8)
|
|
N/M
|
|
(1)
|
|
5
|
|
(6)
|
|
N/M
|
Profit (loss) before tax
|
|
1,047
|
|
979
|
|
68
|
|
7
|
|
2,538
|
|
1,616
|
|
921
|
|
57
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total assets (in € bn)1
|
|
586
|
|
594
|
|
(8)
|
|
(1)
|
|
586
|
|
594
|
|
(8)
|
|
(1)
|
Loans (gross of allowance for loan losses, in € bn)1
|
|
75
|
|
80
|
|
(5)
|
|
(6)
|
|
75
|
|
80
|
|
(5)
|
|
(6)
|
Employees (front office full-time equivalent)1
|
|
4,212
|
|
4,270
|
|
(58)
|
|
(1)
|
|
4,212
|
|
4,270
|
|
(58)
|
|
(1)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
57
|
|
Deutsche Bank
|
Segment results
|
|
Interim Report as of June 30, 2021
|
|
|
|
|
|
|
Three months ended
|
|
|
|
|
|
Six months ended
|
|
|
|
|
||||
in € m.
|
|
Jun 30, 2021
|
|
Jun 30, 2020
|
|
Absolute
|
|
Change
|
|
Jun 30, 2021
|
|
Jun 30, 2020
|
|
Absolute
|
|
Change
|
Net revenues:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Private Bank Germany
|
|
1,198
|
|
1,210
|
|
(12)
|
|
(1)
|
|
2,545
|
|
2,542
|
|
3
|
|
0
|
International Private Bank
|
|
820
|
|
750
|
|
70
|
|
9
|
|
1,651
|
|
1,585
|
|
66
|
|
4
|
IPB Personal Banking1
|
|
213
|
|
187
|
|
26
|
|
14
|
|
442
|
|
407
|
|
35
|
|
9
|
Private Banking2 and Wealth Management
|
|
607
|
|
563
|
|
44
|
|
8
|
|
1,209
|
|
1,178
|
|
31
|
|
3
|
Total net revenues
|
|
2,018
|
|
1,960
|
|
59
|
|
3
|
|
4,196
|
|
4,127
|
|
69
|
|
2
|
Of which:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net interest income
|
|
1,147
|
|
1,129
|
|
19
|
|
2
|
|
2,319
|
|
2,319
|
|
0
|
|
0
|
Commissions and fee income
|
|
737
|
|
679
|
|
58
|
|
9
|
|
1,626
|
|
1,525
|
|
101
|
|
7
|
Remaining income
|
|
134
|
|
152
|
|
(18)
|
|
(12)
|
|
251
|
|
283
|
|
(32)
|
|
(11)
|
Provision for credit losses
|
|
117
|
|
225
|
|
(108)
|
|
(48)
|
|
215
|
|
364
|
|
(149)
|
|
(41)
|
Noninterest expenses:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Compensation and benefits
|
|
682
|
|
728
|
|
(46)
|
|
(6)
|
|
1,401
|
|
1,467
|
|
(66)
|
|
(4)
|
General and administrative expenses
|
|
1,162
|
|
1,160
|
|
3
|
|
0
|
|
2,246
|
|
2,244
|
|
2
|
|
0
|
Impairment of goodwill and other intangible assets
|
|
0
|
|
0
|
|
0
|
|
N/M
|
|
0
|
|
0
|
|
0
|
|
N/M
|
Restructuring activities
|
|
69
|
|
104
|
|
(36)
|
|
(34)
|
|
71
|
|
166
|
|
(95)
|
|
(57)
|
Total noninterest expenses
|
|
1,913
|
|
1,992
|
|
(79)
|
|
(4)
|
|
3,718
|
|
3,877
|
|
(159)
|
|
(4)
|
Noncontrolling interests
|
|
0
|
|
(0)
|
|
0
|
|
N/M
|
|
0
|
|
(0)
|
|
0
|
|
N/M
|
Profit (loss) before tax
|
|
(11)
|
|
(257)
|
|
246
|
|
(96)
|
|
263
|
|
(114)
|
|
377
|
|
N/M
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total assets (in € bn)3
|
|
305
|
|
284
|
|
21
|
|
7
|
|
305
|
|
284
|
|
21
|
|
7
|
Loans (gross of allowance for loan losses, in € bn)3
|
|
247
|
|
230
|
|
17
|
|
7
|
|
247
|
|
230
|
|
17
|
|
7
|
Assets under Management (in € bn)3
|
|
535
|
|
471
|
|
64
|
|
14
|
|
535
|
|
471
|
|
64
|
|
14
|
Net flows (in € bn)
|
|
10
|
|
6
|
|
4
|
|
65
|
|
20
|
|
7
|
|
14
|
|
N/M
|
Employees (front office full-time equivalent)3
|
|
29,153
|
|
30,967
|
|
(1,815)
|
|
(6)
|
|
29,153
|
|
30,967
|
|
(1,815)
|
|
(6)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three months ended
|
|
|
|
|
|
Six months ended
|
|
|
|
|
||||
in € m.
|
|
Jun 30, 2021
|
|
Jun 30, 2020
|
|
Absolute
|
|
Change
|
|
Jun 30, 2021
|
|
Jun 30, 2020
|
|
Absolute
|
|
Change
|
Net revenues:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Management Fees
|
|
584
|
|
508
|
|
76
|
|
15
|
|
1,131
|
|
1,061
|
|
71
|
|
7
|
Performance and transaction fees
|
|
19
|
|
20
|
|
(1)
|
|
(7)
|
|
58
|
|
37
|
|
21
|
|
56
|
Other
|
|
23
|
|
21
|
|
2
|
|
9
|
|
73
|
|
(30)
|
|
103
|
|
N/M
|
Total net revenues
|
|
626
|
|
549
|
|
77
|
|
14
|
|
1,263
|
|
1,068
|
|
195
|
|
18
|
Provision for credit losses
|
|
1
|
|
(1)
|
|
2
|
|
N/M
|
|
1
|
|
(0)
|
|
1
|
|
N/M
|
Noninterest expenses:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Compensation and benefits
|
|
202
|
|
204
|
|
(1)
|
|
(1)
|
|
418
|
|
376
|
|
42
|
|
11
|
General and administrative expenses
|
|
192
|
|
189
|
|
2
|
|
1
|
|
380
|
|
386
|
|
(6)
|
|
(2)
|
Impairment of goodwill and other intangible assets
|
|
0
|
|
0
|
|
0
|
|
N/M
|
|
0
|
|
0
|
|
(0)
|
|
N/M
|
Restructuring activities
|
|
1
|
|
7
|
|
(6)
|
|
(88)
|
|
2
|
|
10
|
|
(9)
|
|
(82)
|
Total noninterest expenses
|
|
395
|
|
400
|
|
(5)
|
|
(1)
|
|
800
|
|
774
|
|
27
|
|
3
|
Noncontrolling interests
|
|
49
|
|
36
|
|
13
|
|
37
|
|
98
|
|
70
|
|
27
|
|
39
|
Profit (loss) before tax
|
|
180
|
|
114
|
|
67
|
|
59
|
|
364
|
|
224
|
|
140
|
|
62
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total assets (in € bn)1
|
|
10
|
|
10
|
|
0
|
|
3
|
|
10
|
|
10
|
|
0
|
|
3
|
Assets under Management (in € bn)1
|
|
859
|
|
745
|
|
114
|
|
15
|
|
859
|
|
745
|
|
114
|
|
15
|
Net flows (in € bn)
|
|
20
|
|
9
|
|
11
|
|
127
|
|
21
|
|
6
|
|
14
|
|
N/M
|
Employees (front office full-time equivalent)1
|
|
3,953
|
|
3,901
|
|
52
|
|
1
|
|
3,953
|
|
3,901
|
|
52
|
|
1
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
58
|
|
Deutsche Bank
|
Segment results
|
|
Interim Report as of June 30, 2021
|
|
|
|
|
|
|
Three months ended
|
|
|
|
|
|
Six months ended
|
|
|
|
|
||||
in € m.
|
|
Jun 30, 2021
|
|
Jun 30, 2020
|
|
Absolute
|
|
Change
|
|
Jun 30, 2021
|
|
Jun 30, 2020
|
|
Absolute
|
|
Change
|
Net revenues
|
|
(24)
|
|
(66)
|
|
43
|
|
(64)
|
|
57
|
|
(123)
|
|
180
|
|
N/M
|
Provision for credit losses
|
|
(25)
|
|
29
|
|
(54)
|
|
N/M
|
|
(32)
|
|
43
|
|
(75)
|
|
N/M
|
Noninterest expenses:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Compensation and benefits
|
|
35
|
|
45
|
|
(10)
|
|
(21)
|
|
75
|
|
97
|
|
(22)
|
|
(23)
|
General and administrative expenses
|
|
223
|
|
451
|
|
(228)
|
|
(51)
|
|
681
|
|
1,092
|
|
(412)
|
|
(38)
|
Impairment of goodwill and other intangible assets
|
|
0
|
|
0
|
|
0
|
|
N/M
|
|
0
|
|
0
|
|
0
|
|
N/M
|
Restructuring activities
|
|
1
|
|
(0)
|
|
1
|
|
N/M
|
|
1
|
|
1
|
|
0
|
|
38
|
Total noninterest expenses
|
|
259
|
|
496
|
|
(237)
|
|
(48)
|
|
757
|
|
1,190
|
|
(433)
|
|
(36)
|
Noncontrolling interests
|
|
0
|
|
(0)
|
|
0
|
|
N/M
|
|
0
|
|
(0)
|
|
0
|
|
N/M
|
Profit (loss) before tax
|
|
(258)
|
|
(591)
|
|
334
|
|
(56)
|
|
(668)
|
|
(1,356)
|
|
689
|
|
(51)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total assets (in € bn)1
|
|
167
|
|
265
|
|
(98)
|
|
(37)
|
|
167
|
|
265
|
|
(98)
|
|
(37)
|
Employees (front office full-time equivalent)1
|
|
420
|
|
536
|
|
(116)
|
|
(22)
|
|
420
|
|
536
|
|
(116)
|
|
(22)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three months ended
|
|
|
|
|
|
Six months ended
|
|
|
|
|
||||
in € m.
|
|
Jun 30, 2021
|
|
Jun 30, 2020
|
|
Absolute
|
|
Change
|
|
Jun 30, 2021
|
|
Jun 30, 2020
|
|
Absolute
|
|
Change
|
Net revenues
|
|
(2)
|
|
(118)
|
|
116
|
|
(99)
|
|
241
|
|
(207)
|
|
448
|
|
N/M
|
Provision for credit losses
|
|
(1)
|
|
1
|
|
(2)
|
|
N/M
|
|
(3)
|
|
5
|
|
(7)
|
|
N/M
|
Noninterest expenses:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Compensation and benefits
|
|
870
|
|
944
|
|
(74)
|
|
(8)
|
|
1,762
|
|
1,894
|
|
(133)
|
|
(7)
|
General and administrative expenses
|
|
(789)
|
|
(912)
|
|
122
|
|
(13)
|
|
(1,524)
|
|
(1,749)
|
|
224
|
|
(13)
|
Impairment of goodwill and other intangible assets
|
|
0
|
|
0
|
|
0
|
|
N/M
|
|
0
|
|
0
|
|
0
|
|
N/M
|
Restructuring activities
|
|
(0)
|
|
1
|
|
(1)
|
|
N/M
|
|
(0)
|
|
0
|
|
(0)
|
|
N/M
|
Total noninterest expenses
|
|
81
|
|
34
|
|
47
|
|
140
|
|
237
|
|
145
|
|
92
|
|
63
|
Noncontrolling interests
|
|
(47)
|
|
(42)
|
|
(5)
|
|
12
|
|
(97)
|
|
(75)
|
|
(21)
|
|
28
|
Profit (loss) before tax
|
|
(34)
|
|
(110)
|
|
76
|
|
(69)
|
|
103
|
|
(282)
|
|
385
|
|
N/M
|
Employees (full-time equivalent)1
|
|
38,535
|
|
39,289
|
|
(754)
|
|
(2)
|
|
38,535
|
|
39,289
|
|
(754)
|
|
(2)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
59
|
|
Deutsche Bank
|
Information on the consolidated income statement
|
|
Interim Report as of June 30, 2021
|
|
|
|
|
|
|
Three months ended
|
|
Six months ended
|
||||
in € m.
|
|
Jun 30, 2021
|
|
Jun 30, 2020
|
|
Jun 30, 2021
|
|
Jun 30, 2020
|
Net interest income1
|
|
2,652
|
|
3,096
|
|
5,448
|
|
6,357
|
Trading income1,2
|
|
820
|
|
1,030
|
|
2,281
|
|
792
|
Net gains (losses) on non-trading financial assets mandatory at fair value through profit or loss
|
|
175
|
|
143
|
|
202
|
|
64
|
Net gains (losses) on financial assets/liabilities designated at fair value through profit or loss
|
|
(12)
|
|
(466)
|
|
101
|
|
83
|
Total net gains (losses) on financial assets/liabilities at fair value through profit or loss
|
|
983
|
|
708
|
|
2,584
|
|
939
|
Total net interest income and net gains (losses) on financial assets/liabilities
|
|
3,635
|
|
3,803
|
|
8,033
|
|
7,296
|
Corporate Treasury Services
|
|
366
|
|
593
|
|
859
|
|
1,114
|
Institutional Client Services
|
|
78
|
|
84
|
|
167
|
|
183
|
Business Banking
|
|
131
|
|
141
|
|
270
|
|
272
|
Corporate Bank
|
|
575
|
|
818
|
|
1,297
|
|
1,569
|
FIC Sales & Trading
|
|
1,775
|
|
2,392
|
|
4,153
|
|
3,768
|
Remaining Products
|
|
(7)
|
|
57
|
|
(39)
|
|
124
|
Investment Bank
|
|
1,768
|
|
2,449
|
|
4,114
|
|
3,892
|
Private Bank
|
|
1,208
|
|
1,137
|
|
2,487
|
|
2,374
|
Asset Management
|
|
56
|
|
25
|
|
135
|
|
(160)
|
Capital Release Unit
|
|
(18)
|
|
(154)
|
|
51
|
|
41
|
Corporate & Other
|
|
45
|
|
(471)
|
|
(51)
|
|
(419)
|
Total net interest income and net gains (losses) on financial assets/liabilities
|
|
3,635
|
|
3,803
|
|
8,033
|
|
7,296
|
|
|
|
|
|
|
|
|
|
|
|
60
|
|
Deutsche Bank
|
Information on the consolidated income statement
|
|
Interim Report as of June 30, 2021
|
|
|
|
|
|
|
Three months ended Jun 30, 2021
|
||||||||||||
|
Corporate
|
|
Investment
|
|
Private
|
|
Asset
|
|
Capital
|
|
Corporate &
|
|
Total
|
|
Major type of services:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Commissions for administration
|
|
59
|
|
10
|
|
65
|
|
6
|
|
1
|
|
(1)
|
|
141
|
Commissions for assets under management
|
|
4
|
|
0
|
|
88
|
|
844
|
|
(0)
|
|
0
|
|
936
|
Commissions for other securities
|
|
106
|
|
0
|
|
10
|
|
0
|
|
0
|
|
0
|
|
117
|
Underwriting and advisory fees
|
|
9
|
|
566
|
|
3
|
|
0
|
|
0
|
|
(15)
|
|
564
|
Brokerage fees
|
|
5
|
|
66
|
|
318
|
|
22
|
|
25
|
|
1
|
|
437
|
Commissions for local payments
|
|
112
|
|
1
|
|
151
|
|
0
|
|
0
|
|
3
|
|
267
|
Commissions for foreign commercial business
|
|
111
|
|
6
|
|
25
|
|
0
|
|
0
|
|
(1)
|
|
142
|
Commissions for foreign currency/exchange business
|
|
2
|
|
0
|
|
1
|
|
0
|
|
0
|
|
(0)
|
|
3
|
Commissions for loan processing and guarantees
|
|
135
|
|
79
|
|
74
|
|
0
|
|
2
|
|
0
|
|
290
|
Intermediary fees
|
|
2
|
|
(1)
|
|
191
|
|
0
|
|
0
|
|
2
|
|
194
|
Fees for sundry other customer services
|
|
62
|
|
128
|
|
12
|
|
27
|
|
(0)
|
|
1
|
|
230
|
Total fee and commissions income
|
|
608
|
|
855
|
|
940
|
|
899
|
|
27
|
|
(8)
|
|
3,321
|
Gross expense
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(747)
|
Net fees and commissions
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2,574
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three months ended Jun 30, 2020
|
||||||||||||
|
Corporate
|
|
Investment
|
|
Private
|
|
Asset
|
|
Capital
|
|
Corporate &
|
|
Total
|
|
Major type of services:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Commissions for administration
|
|
63
|
|
4
|
|
57
|
|
6
|
|
0
|
|
(1)
|
|
129
|
Commissions for assets under management
|
|
5
|
|
0
|
|
79
|
|
734
|
|
0
|
|
0
|
|
818
|
Commissions for other securities
|
|
110
|
|
(0)
|
|
8
|
|
0
|
|
0
|
|
0
|
|
117
|
Underwriting and advisory fees
|
|
5
|
|
418
|
|
3
|
|
0
|
|
0
|
|
(14)
|
|
413
|
Brokerage fees
|
|
2
|
|
60
|
|
256
|
|
20
|
|
31
|
|
5
|
|
375
|
Commissions for local payments
|
|
105
|
|
(2)
|
|
220
|
|
(0)
|
|
0
|
|
(1)
|
|
322
|
Commissions for foreign commercial business
|
|
99
|
|
6
|
|
26
|
|
0
|
|
0
|
|
(1)
|
|
130
|
Commissions for foreign currency/exchange business
|
|
1
|
|
0
|
|
2
|
|
0
|
|
0
|
|
(0)
|
|
2
|
Commissions for loan processing and guarantees
|
|
126
|
|
43
|
|
71
|
|
0
|
|
3
|
|
1
|
|
244
|
Intermediary fees
|
|
2
|
|
0
|
|
188
|
|
0
|
|
0
|
|
2
|
|
193
|
Fees for sundry other customer services
|
|
62
|
|
69
|
|
12
|
|
29
|
|
1
|
|
0
|
|
173
|
Total fee and commissions income
|
|
580
|
|
598
|
|
922
|
|
788
|
|
36
|
|
(6)
|
|
2,917
|
Gross expense
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(690)
|
Net fees and commissions
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2,227
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
61
|
|
Deutsche Bank
|
Information on the consolidated income statement
|
|
Interim Report as of June 30, 2021
|
|
|
|
|
|
|
Six months ended Jun 30, 2021
|
||||||||||||
in € m.
|
|
Corporate
|
|
Investment
|
|
Private
|
|
Asset
|
|
Capital
|
|
Corporate &
|
|
Total
|
Major type of services:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Commissions for administration
|
|
120
|
|
23
|
|
128
|
|
11
|
|
2
|
|
(2)
|
|
283
|
Commissions for assets under management
|
|
8
|
|
0
|
|
176
|
|
1,660
|
|
(0)
|
|
0
|
|
1,844
|
Commissions for other securities
|
|
201
|
|
(0)
|
|
21
|
|
1
|
|
0
|
|
0
|
|
222
|
Underwriting and advisory fees
|
|
21
|
|
1,151
|
|
9
|
|
0
|
|
(0)
|
|
(30)
|
|
1,151
|
Brokerage fees
|
|
12
|
|
129
|
|
715
|
|
40
|
|
58
|
|
(0)
|
|
954
|
Commissions for local payments
|
|
221
|
|
2
|
|
385
|
|
0
|
|
0
|
|
4
|
|
612
|
Commissions for foreign commercial business
|
|
221
|
|
11
|
|
50
|
|
0
|
|
0
|
|
(1)
|
|
280
|
Commissions for foreign currency/exchange business
|
|
4
|
|
0
|
|
3
|
|
0
|
|
0
|
|
(0)
|
|
6
|
Commissions for loan processing and guarantees
|
|
275
|
|
130
|
|
151
|
|
0
|
|
3
|
|
2
|
|
560
|
Intermediary fees
|
|
7
|
|
1
|
|
387
|
|
0
|
|
0
|
|
6
|
|
402
|
Fees for sundry other customer services
|
|
134
|
|
242
|
|
23
|
|
59
|
|
2
|
|
2
|
|
461
|
Total fee and commissions income
|
|
1,223
|
|
1,689
|
|
2,046
|
|
1,771
|
|
65
|
|
(19)
|
|
6,776
|
Gross expense
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(1,463)
|
Net fees and commissions
|
|
|
|
|
|
|
|
|
|
|
|
|
|
5,313
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Six months ended Jun 30, 2020
|
||||||||||||
|
Corporate
|
|
Investment
|
|
Private
|
|
Asset
|
|
Capital
|
|
Corporate &
|
|
Total
|
|
Major type of services:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Commissions for administration
|
|
124
|
|
6
|
|
116
|
|
12
|
|
0
|
|
(1)
|
|
257
|
Commissions for assets under management
|
|
10
|
|
1
|
|
159
|
|
1,518
|
|
(0)
|
|
0
|
|
1,688
|
Commissions for other securities
|
|
185
|
|
0
|
|
16
|
|
0
|
|
0
|
|
0
|
|
202
|
Underwriting and advisory fees
|
|
15
|
|
859
|
|
8
|
|
0
|
|
(0)
|
|
(15)
|
|
866
|
Brokerage fees
|
|
8
|
|
143
|
|
615
|
|
38
|
|
70
|
|
2
|
|
876
|
Commissions for local payments
|
|
227
|
|
0
|
|
475
|
|
(0)
|
|
0
|
|
(0)
|
|
701
|
Commissions for foreign commercial business
|
|
203
|
|
13
|
|
52
|
|
0
|
|
0
|
|
(1)
|
|
267
|
Commissions for foreign currency/exchange business
|
|
2
|
|
0
|
|
4
|
|
0
|
|
0
|
|
(0)
|
|
6
|
Commissions for loan processing and guarantees
|
|
247
|
|
94
|
|
153
|
|
0
|
|
5
|
|
3
|
|
501
|
Intermediary fees
|
|
7
|
|
1
|
|
313
|
|
0
|
|
0
|
|
7
|
|
328
|
Fees for sundry other customer services
|
|
138
|
|
131
|
|
21
|
|
61
|
|
3
|
|
0
|
|
353
|
Total fee and commissions income
|
|
1,166
|
|
1,247
|
|
1,932
|
|
1,629
|
|
78
|
|
(5)
|
|
6,046
|
Gross expense
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(1,380)
|
Net fees and commissions
|
|
|
|
|
|
|
|
|
|
|
|
|
|
4,666
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
62
|
|
Deutsche Bank
|
Information on the consolidated income statement
|
|
Interim Report as of June 30, 2021
|
|
|
|
|
|
|
Three months ended
|
|
Six months ended
|
||||
in € m.
|
|
Jun 30, 2021
|
|
Jun 30, 2020
|
|
Jun 30, 2021
|
|
Jun 30, 2020
|
Gains
|
|
0
|
|
174
|
|
0
|
|
235
|
Losses
|
|
0
|
|
(3)
|
|
0
|
|
(3)
|
Net gains (losses) from derecognition of securities measured at amortized cost
|
|
0
|
|
171
|
|
0
|
|
232
|
|
|
|
|
|
|
|
|
|
|
|
Three months ended
|
|
Six months ended
|
||||
in € m.
|
|
Jun 30, 2021
|
|
Jun 30, 2020
|
|
Jun 30, 2021
|
|
Jun 30, 2020
|
Corporate Bank
|
|
5
|
|
0
|
|
17
|
|
5
|
Investment Bank
|
|
11
|
|
11
|
|
12
|
|
15
|
Private Bank
|
|
69
|
|
104
|
|
71
|
|
166
|
Asset Management
|
|
1
|
|
7
|
|
2
|
|
10
|
Capital Release Unit
|
|
1
|
|
(0)
|
|
1
|
|
1
|
Corporate & Other
|
|
(0)
|
|
1
|
|
(0)
|
|
0
|
Total Net Restructuring Charges
|
|
86
|
|
123
|
|
102
|
|
197
|
|
|
|
|
|
|
|
|
|
|
|
Three months ended
|
|
Six months ended
|
||||
in € m.
|
|
Jun 30, 2021
|
|
Jun 30, 2020
|
|
Jun 30, 2021
|
|
Jun 30, 2020
|
Restructuring – Staff related
|
|
65
|
|
127
|
|
83
|
|
201
|
Of which:
|
|
|
|
|
|
|
|
|
Termination Payments
|
|
63
|
|
106
|
|
81
|
|
180
|
Retention Acceleration
|
|
2
|
|
20
|
|
2
|
|
20
|
Social Security
|
|
(0)
|
|
1
|
|
(0)
|
|
1
|
Restructuring – Non Staff related1
|
|
20
|
|
(4)
|
|
19
|
|
(4)
|
Total net restructuring Charges
|
|
86
|
|
123
|
|
102
|
|
197
|
|
|
|
|
|
|
|
|
|
|
|
63
|
|
Deutsche Bank
|
Information on the consolidated income statement
|
|
Interim Report as of June 30, 2021
|
|
|
|
|
Full-time equivalent staff
|
|
Three months ended
|
|
Six months ended
|
Corporate Bank
|
|
16
|
|
31
|
Investment Bank
|
|
0
|
|
10
|
Private Bank
|
|
70
|
|
165
|
Asset Management
|
|
1
|
|
11
|
Capital Release Unit
|
|
2
|
|
5
|
Infrastructure
|
|
18
|
|
53
|
Total full-time equivalent staff
|
|
106
|
|
275
|
|
|
|
|
|
|
|
64
|
|
Deutsche Bank
|
Information on the consolidated balance sheet
|
|
Interim Report as of June 30, 2021
|
|
|
|
|
|
|
65
|
|
Deutsche Bank
|
Information on the consolidated balance sheet
|
|
Interim Report as of June 30, 2021
|
|
|
|
|
|
|
Jun 30, 2021
|
|
Dec 31, 2020
|
||||||||
in € m.
|
|
Quoted
|
|
Valuation
|
|
Valuation
|
|
Quoted
|
|
Valuation
|
|
Valuation
|
Financial assets held at fair value:
|
|
|
|
|
|
|
|
|
|
|
|
|
Trading assets
|
|
46,609
|
|
57,694
|
|
7,817
|
|
44,525
|
|
55,220
|
|
8,183
|
Trading securities
|
|
46,449
|
|
52,616
|
|
3,666
|
|
44,349
|
|
50,340
|
|
3,066
|
Other trading assets
|
|
160
|
|
5,077
|
|
4,152
|
|
176
|
|
4,880
|
|
5,117
|
Positive market values from derivative financial instruments
|
|
3,938
|
|
261,434
|
|
8,518
|
|
4,208
|
|
330,561
|
|
8,725
|
Non-trading financial assets mandatory at fair value through profit or loss
|
|
1,889
|
|
77,176
|
|
4,347
|
|
2,992
|
|
68,511
|
|
4,618
|
Financial assets designated at fair value through profit or loss
|
|
0
|
|
84
|
|
6
|
|
0
|
|
436
|
|
0
|
Financial assets at fair value through other comprehensive income
|
|
14,639
|
|
20,295
|
|
2,252
|
|
28,057
|
|
25,741
|
|
2,037
|
Other financial assets at fair value
|
|
72
|
|
6,069
2
|
|
4
|
|
93
|
|
9,238
2
|
|
20
|
Total financial assets held at fair value
|
|
67,147
|
|
422,752
|
|
22,943
|
|
79,875
|
|
489,707
|
|
23,583
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Financial liabilities held at fair value:
|
|
|
|
|
|
|
|
|
|
|
|
|
Trading liabilities
|
|
45,181
|
|
10,864
|
|
76
|
|
36,699
|
|
7,615
|
|
2
|
Trading securities
|
|
45,145
|
|
10,427
|
|
18
|
|
36,674
|
|
7,206
|
|
2
|
Other trading liabilities
|
|
35
|
|
437
|
|
58
|
|
25
|
|
409
|
|
0
|
Negative market values from derivative financial instruments
|
|
4,756
|
|
250,879
|
|
8,930
|
|
4,430
|
|
315,145
|
|
8,200
|
Financial liabilities designated at fair value through profit or loss
|
|
0
|
|
52,043
|
|
878
|
|
0
|
|
45,622
|
|
960
|
Investment contract liabilities
|
|
0
|
|
560
|
|
0
|
|
0
|
|
526
|
|
0
|
Other financial liabilities at fair value
|
|
16
|
|
3,814
2
|
|
(168)3
|
|
799
|
|
3,573
2
|
|
(294)3
|
Total financial liabilities held at fair value
|
|
49,952
|
|
318,160
|
|
9,717
|
|
41,929
|
|
372,480
|
|
8,867
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
66
|
|
Deutsche Bank
|
Information on the consolidated balance sheet
|
|
Interim Report as of June 30, 2021
|
|
|
|
|
|
|
67
|
|
Deutsche Bank
|
Information on the consolidated balance sheet
|
|
Interim Report as of June 30, 2021
|
|
|
|
|
|
|
68
|
|
Deutsche Bank
|
Information on the consolidated balance sheet
|
|
Interim Report as of June 30, 2021
|
|
|
|
|
|
|
Jun 30, 2021
|
||||||||||||||||||
in € m.
|
|
Balance,
|
|
Changes
|
|
Total
|
|
Purchases
|
|
Sales
|
|
Issu-
|
|
Settle-
|
|
Transfers
|
|
Transfers
|
|
Balance,
|
Financial assets
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Trading securities
|
|
3,066
|
|
0
|
|
394
|
|
1,709
|
|
(1,476)
|
|
0
|
|
(80)
|
|
663
|
|
(611)
|
|
3,666
|
Positive market
|
|
8,725
|
|
0
|
|
(275)
|
|
0
|
|
0
|
|
0
|
|
(465)
|
|
2,951
|
|
(2,418)
|
|
8,518
|
Other trading
|
|
5,117
|
|
0
|
|
114
|
|
497
|
|
(1,439)
|
|
390
|
|
(592)
|
|
542
|
|
(477)
|
|
4,152
|
Non-trading financial assets mandatory at fair value through profit or loss
|
|
4,618
|
|
0
|
|
229
|
|
218
|
|
(184)
|
|
132
|
|
(207)
|
|
47
|
|
(506)
|
|
4,347
|
Financial assets
|
|
0
|
|
0
|
|
0
|
|
0
|
|
0
|
|
5
|
|
0
|
|
0
|
|
0
|
|
6
|
Financial assets at fair value through other comprehensive income
|
|
2,037
|
|
0
|
|
37
5
|
|
43
|
|
(22)
|
|
338
|
|
(236)
|
|
274
|
|
(220)
|
|
2,252
|
Other financial
|
|
20
|
|
0
|
|
(2)
|
|
0
|
|
0
|
|
0
|
|
0
|
|
3
|
|
(17)
|
|
4
|
Total financial assets
|
|
23,583
|
|
0
|
|
496
6,7
|
|
2,468
|
|
(3,120)
|
|
865
|
|
(1,580)
|
|
4,479
|
|
(4,248)
|
|
22,943
|
Financial liabilities
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Trading securities
|
|
2
|
|
0
|
|
0
|
|
0
|
|
0
|
|
0
|
|
(2)
|
|
18
|
|
(0)
|
|
18
|
Negative market
|
|
8,200
|
|
0
|
|
(656)
|
|
0
|
|
0
|
|
0
|
|
(166)
|
|
3,016
|
|
(1,464)
|
|
8,930
|
Other trading
|
|
0
|
|
0
|
|
(6)
|
|
0
|
|
0
|
|
0
|
|
0
|
|
64
|
|
0
|
|
58
|
Financial liabilities
|
|
960
|
|
0
|
|
(12)
|
|
0
|
|
0
|
|
45
|
|
(202)
|
|
180
|
|
(93)
|
|
878
|
Other financial
|
|
(294)
|
|
0
|
|
95
|
|
0
|
|
0
|
|
0
|
|
(8)
|
|
2
|
|
37
|
|
(168)
|
Total financial
|
|
8,867
|
|
0
|
|
(579)6,7
|
|
0
|
|
0
|
|
45
|
|
(378)
|
|
3,281
|
|
(1,520)
|
|
9,717
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
69
|
|
Deutsche Bank
|
Information on the consolidated balance sheet
|
|
Interim Report as of June 30, 2021
|
|
|
|
|
|
|
Jun 30, 2020
|
||||||||||||||||||
in € m.
|
|
Balance,
|
|
Changes in
|
|
Total
|
|
Purchases
|
|
Sales
|
|
Issu-
|
|
Settle-
|
|
Transfers
|
|
Transfers
|
|
Balance,
|
Financial assets
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Trading securities
|
|
3,430
|
|
0
|
|
(72)
|
|
1,101
|
|
(1,477)
|
|
0
|
|
(135)
|
|
610
|
|
(421)
|
|
3,035
|
Positive market
|
|
8,167
|
|
0
|
|
1,965
|
|
0
|
|
0
|
|
0
|
|
(307)
|
|
1,651
|
|
(1,560)
|
|
9,915
|
Other trading
|
|
6,137
|
|
0
|
|
(312)
|
|
490
|
|
(1,143)
|
|
919
|
|
(515)
|
|
660
|
|
(232)
|
|
6,004
|
Non-trading financial assets mandatory at fair value through profit or loss
|
|
5,278
|
|
0
|
|
(38)
|
|
161
|
|
(181)
|
|
199
|
|
(426)
|
|
667
|
|
(787)
|
|
4,872
|
Financial assets
|
|
7
|
|
0
|
|
0
|
|
0
|
|
0
|
|
0
|
|
0
|
|
0
|
|
(6)
|
|
1
|
Financial assets at fair value through other comprehensive income
|
|
1,050
|
|
0
|
|
(19)5
|
|
292
|
|
0
|
|
0
|
|
(99)
|
|
333
|
|
(246)
|
|
1,311
|
Other financial
|
|
363
|
|
0
|
|
1
|
|
0
|
|
0
|
|
0
|
|
(1)
|
|
79
|
|
(194)
|
|
249
|
Total financial assets
|
|
24,431
|
|
0
|
|
1,525
6,7
|
|
2,044
|
|
(2,801)
|
|
1,118
|
|
(1,483)
|
|
4,000
|
|
(3,447)
|
|
25,387
|
Financial liabilities
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Trading securities
|
|
2
|
|
0
|
|
(0)
|
|
0
|
|
0
|
|
0
|
|
(0)
|
|
0
|
|
(2)
|
|
0
|
Negative market
|
|
6,652
|
|
0
|
|
1,521
|
|
0
|
|
0
|
|
0
|
|
3
|
|
1,273
|
|
(1,318)
|
|
8,131
|
Other trading
|
|
38
|
|
0
|
|
(1)
|
|
0
|
|
0
|
|
0
|
|
(9)
|
|
0
|
|
(28)
|
|
0
|
Financial liabilities
|
|
1,954
|
|
0
|
|
(40)
|
|
0
|
|
0
|
|
146
|
|
(509)
|
|
180
|
|
(208)
|
|
1,522
|
Other financial
|
|
(34)
|
|
0
|
|
(221)
|
|
0
|
|
0
|
|
0
|
|
(1)
|
|
8
|
|
(44)
|
|
(292)
|
Total financial
|
|
8,612
|
|
0
|
|
1,259
6,7
|
|
0
|
|
0
|
|
146
|
|
(516)
|
|
1,462
|
|
(1,601)
|
|
9,361
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
70
|
|
Deutsche Bank
|
Information on the consolidated balance sheet
|
|
Interim Report as of June 30, 2021
|
|
|
|
|
|
|
71
|
|
Deutsche Bank
|
Information on the consolidated balance sheet
|
|
Interim Report as of June 30, 2021
|
|
|
|
|
|
|
Jun 30, 2021
|
|
Dec 31, 2020
|
||||
in € m.
|
|
Positive fair value
|
|
Negative fair value
|
|
Positive fair value
|
|
Negative fair value
|
Securities:
|
|
|
|
|
|
|
|
|
Debt securities
|
|
435
|
|
326
|
|
287
|
|
201
2
|
Commercial mortgage-backed securities
|
|
12
|
|
21
|
|
9
|
|
22
|
Mortgage and other asset-backed securities
|
|
9
|
|
7
|
|
20
|
|
12
|
Corporate, sovereign and other debt securities
|
|
414
|
|
297
|
|
259
|
|
167
2
|
Equity securities
|
|
77
|
|
59
|
|
83
|
|
57
2
|
Derivatives:
|
|
|
|
|
|
|
|
|
Credit
|
|
157
|
|
115
|
|
283
|
|
185
|
Equity
|
|
219
|
|
203
|
|
257
|
|
238
|
Interest related
|
|
307
|
|
269
|
|
306
|
|
266
|
Foreign exchange
|
|
35
|
|
30
|
|
37
|
|
32
|
Other
|
|
109
|
|
91
|
|
93
|
|
82
|
Loans:
|
|
|
|
|
|
|
|
|
Loans
|
|
426
|
|
247
|
|
483
|
|
306
|
Other
|
|
0
|
|
0
|
|
0
|
|
0
|
Total
|
|
1,766
|
|
1,340
|
|
1,829
|
|
1,367
|
|
|
|
|
|
|
|
|
|
|
|
72
|
|
Deutsche Bank
|
Information on the consolidated balance sheet
|
|
Interim Report as of June 30, 2021
|
|
|
|
|
|
|
73
|
|
Deutsche Bank
|
Information on the consolidated balance sheet
|
|
Interim Report as of June 30, 2021
|
|
|
|
|
|
|
Jun 30, 2021
|
||||||||||
|
|
Fair value
|
|
|
|
|
|
|
|
|
||
in € m.
|
|
Assets
|
|
Liabilities
|
|
Valuation technique(s)1
|
|
Significant unobservable
|
|
Range
|
||
Financial instruments held at fair value –
|
|
|
|
|
|
|
|
|
|
|
|
|
Mortgage- and other asset-backed
|
|
|
|
|
|
|
|
|
|
|
|
|
Commercial mortgage-backed
|
|
36
|
|
0
|
|
Price based
|
|
Price
|
|
0 %
|
|
112 %
|
|
|
|
|
|
|
Discounted cash flow
|
|
Credit spread (bps)
|
|
80
|
|
1,220
|
Mortgage- and other asset-backed
|
|
108
|
|
0
|
|
Price based
|
|
Price
|
|
0 %
|
|
105 %
|
|
|
|
|
|
|
Discounted cash flow
|
|
Credit spread (bps)
|
|
0
|
|
1,130
|
|
|
|
|
|
|
|
|
Recovery rate
|
|
60 %
|
|
100 %
|
|
|
|
|
|
|
|
|
Constant default rate
|
|
0 %
|
|
3 %
|
|
|
|
|
|
|
|
|
Constant prepayment rate
|
|
0 %
|
|
26 %
|
Total mortgage- and other asset-backed
|
|
144
|
|
0
|
|
|
|
|
|
|
|
|
Debt securities and other debt
|
|
4,753
|
|
835
|
|
Price based
|
|
Price
|
|
0 %
|
|
198 %
|
Held for trading
|
|
3,148
|
|
18
|
|
Discounted cash flow
|
|
Credit spread (bps)
|
|
12
|
|
542
|
Corporate, sovereign and other
|
|
3,148
|
|
|
|
|
|
|
|
|
|
|
Non-trading financial assets mandatory at fair value through profit or loss
|
|
1,432
|
|
|
|
|
|
|
|
|
|
|
Designated at fair value through profit or loss
|
|
0
|
|
817
|
|
|
|
|
|
|
|
|
Financial assets at fair value through other comprehensive income
|
|
173
|
|
|
|
|
|
|
|
|
|
|
Equity securities
|
|
1,046
|
|
0
|
|
Market approach
|
|
Price per net asset value
|
|
0 %
|
|
106 %
|
Held for trading
|
|
374
|
|
0
|
|
|
|
Enterprise value/EBITDA
|
|
5
|
|
17
|
Non-trading financial assets mandatory at fair value through profit or loss
|
|
672
|
|
|
|
Discounted cash flow
|
|
Weighted average cost capital
|
|
8 %
|
|
20 %
|
|
|
|
|
|
|
Price based
|
|
Price
|
|
0 %
|
|
100 %
|
Loans
|
|
6,978
|
|
58
|
|
Price based
|
|
Price
|
|
0 %
|
|
326 %
|
Held for trading
|
|
4,137
|
|
58
|
|
Discounted cash flow
|
|
Credit spread (bps)
|
|
160
|
|
1,764
|
Non-trading financial assets mandatory at fair value through profit or loss
|
|
758
|
|
|
|
|
|
Recovery rate
|
|
10 %
|
|
85 %
|
Designated at fair value through profit or loss
|
|
5
|
|
0
|
|
|
|
|
|
|
|
|
Financial assets at fair value through other comprehensive income
|
|
2,079
|
|
|
|
|
|
|
|
|
|
|
Loan commitments
|
|
0
|
|
2
|
|
Discounted cash flow
|
|
Credit spread (bps)
|
|
6
|
|
3,038
|
|
|
|
|
|
|
|
|
Recovery rate
|
|
10 %
|
|
100 %
|
|
|
|
|
|
|
Loan pricing model
|
|
Utilization
|
|
0 %
|
|
100 %
|
Other financial instruments
|
|
1,504
2
|
|
65
3
|
|
Discounted cash flow
|
|
IRR
|
|
7 %
|
|
16 %
|
|
|
|
|
|
|
|
|
Repo rate (bps.)
|
|
(2)
|
|
300
|
Total non-derivative financial
|
|
14,425
|
|
961
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
74
|
|
Deutsche Bank
|
Information on the consolidated balance sheet
|
|
Interim Report as of June 30, 2021
|
|
|
|
|
|
|
Dec 31, 2020
|
||||||||||
|
|
Fair value
|
|
|
|
|
|
|
|
|
||
in € m.
|
|
Assets
|
|
Liabilities
|
|
Valuation technique(s)1
|
|
Significant unobservable
|
|
|
|
Range
|
Financial instruments held at fair value –
|
|
|
|
|
|
|
|
|
|
|
|
|
Mortgage- and other asset-backed
|
|
|
|
|
|
|
|
|
|
|
|
|
Commercial mortgage-backed
|
|
28
|
|
0
|
|
Price based
|
|
Price
|
|
0 %
|
|
114 %
|
|
|
|
|
|
|
Discounted cash flow
|
|
Credit spread (bps)
|
|
133
|
|
1,270
|
Mortgage- and other asset-backed
|
|
155
|
|
0
|
|
Price based
|
|
Price
|
|
0 %
|
|
106 %
|
|
|
|
|
|
|
Discounted cash flow
|
|
Credit spread (bps)
|
|
109
|
|
1,295
|
|
|
|
|
|
|
|
|
Recovery rate
|
|
10 %
|
|
90 %
|
|
|
|
|
|
|
|
|
Constant default rate
|
|
1 %
|
|
2 %
|
|
|
|
|
|
|
|
|
Constant prepayment rate
|
|
1 %
|
|
25 %
|
Total mortgage- and other asset-backed
|
|
183
|
|
0
|
|
|
|
|
|
|
|
|
Debt securities and other debt
|
|
4,625
|
|
769
|
|
Price based
|
|
Price
|
|
0 %
|
|
200 %
|
Held for trading
|
|
2,813
|
|
2
|
|
Discounted cash flow
|
|
Credit spread (bps)
|
|
21
|
|
544
|
Corporate, sovereign and other
|
|
2,813
|
|
|
|
|
|
|
|
|
|
|
Non-trading financial assets mandatory at fair value through profit or loss
|
|
1,652
|
|
|
|
|
|
|
|
|
|
|
Designated at fair value through profit or loss
|
|
0
|
|
768
|
|
|
|
|
|
|
|
|
Financial assets at fair value through other comprehensive income
|
|
160
|
|
|
|
|
|
|
|
|
|
|
Equity securities
|
|
727
|
|
0
|
|
Market approach
|
|
Price per net asset value
|
|
42 %
|
|
100 %
|
Held for trading
|
|
70
|
|
0
|
|
|
|
Enterprise value/EBITDA
|
|
5
|
|
23
|
Non-trading financial assets mandatory at fair value through profit or loss
|
|
657
|
|
|
|
Discounted cash flow
|
|
Weighted average cost capital
|
|
8 %
|
|
20 %
|
|
|
|
|
|
|
Price based
|
|
Price
|
|
0 %
|
|
108 %
|
Loans
|
|
7,888
|
|
0
|
|
Price based
|
|
Price
|
|
0 %
|
|
373 %
|
Held for trading
|
|
5,101
|
|
0
|
|
Discounted cash flow
|
|
Credit spread (bps)
|
|
51
|
|
2,233
|
Non-trading financial assets mandatory at fair value through profit or loss
|
|
910
|
|
|
|
|
|
Recovery rate
|
|
20 %
|
|
85 %
|
Financial assets at fair value through other comprehensive income
|
|
1,877
|
|
|
|
|
|
|
|
|
|
|
Loan commitments
|
|
0
|
|
1
|
|
Discounted cash flow
|
|
Credit spread (bps)
|
|
6
|
|
2,444
|
|
|
|
|
|
|
|
|
Recovery rate
|
|
25 %
|
|
100 %
|
|
|
|
|
|
|
Loan pricing model
|
|
Utilization
|
|
0 %
|
|
100 %
|
Other financial instruments
|
|
1,432
2
|
|
198
3
|
|
Discounted cash flow
|
|
IRR
|
|
7 %
|
|
16 %
|
|
|
|
|
|
|
|
|
Repo rate (bps.)
|
|
0
|
|
75
|
Total non-derivative financial
|
|
14,854
|
|
968
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
75
|
|
Deutsche Bank
|
Information on the consolidated balance sheet
|
|
Interim Report as of June 30, 2021
|
|
|
|
|
|
|
Jun 30, 2021
|
||||||||||
|
|
Fair value
|
|
|
|
|
|
|
|
|
||
in € m.
|
|
Assets
|
|
Liabilities
|
|
Valuation technique(s)
|
|
Significant unobservable
|
|
Range
|
||
Financial instruments held at fair value:
|
|
|
|
|
|
|
|
|
|
|
|
|
Market values from derivative financial
|
|
|
|
|
|
|
|
|
|
|
|
|
Interest rate derivatives
|
|
4,963
|
|
4,526
|
|
Discounted cash flow
|
|
Swap rate (bps)
|
|
(70)
|
|
843
|
|
|
|
|
|
|
|
|
Inflation swap rate
|
|
0 %
|
|
3 %
|
|
|
|
|
|
|
|
|
Constant default rate
|
|
0 %
|
|
15 %
|
|
|
|
|
|
|
|
|
Constant prepayment rate
|
|
5 %
|
|
23 %
|
|
|
|
|
|
|
Option pricing model
|
|
Inflation volatility
|
|
0 %
|
|
9 %
|
|
|
|
|
|
|
|
|
Interest rate volatility
|
|
0 %
|
|
22 %
|
|
|
|
|
|
|
|
|
IR - IR correlation
|
|
(25) %
|
|
99 %
|
|
|
|
|
|
|
|
|
Hybrid correlation
|
|
(70) %
|
|
100 %
|
Credit derivatives
|
|
747
|
|
589
|
|
Discounted cash flow
|
|
Credit spread (bps)
|
|
0
|
|
1,086
|
|
|
|
|
|
|
|
|
Recovery rate
|
|
0 %
|
|
40 %
|
|
|
|
|
|
|
Correlation pricing
|
|
Credit correlation
|
|
16 %
|
|
84 %
|
Equity derivatives
|
|
777
|
|
2,265
|
|
Option pricing model
|
|
Stock volatility
|
|
4 %
|
|
99 %
|
|
|
|
|
|
|
|
|
Index volatility
|
|
8 %
|
|
81 %
|
|
|
|
|
|
|
|
|
Index - index correlation
|
|
75 %
|
|
91 %
|
|
|
|
|
|
|
|
|
Stock - stock correlation
|
|
41 %
|
|
60 %
|
|
|
|
|
|
|
|
|
Stock Forwards
|
|
0 %
|
|
5 %
|
|
|
|
|
|
|
|
|
Index Forwards
|
|
0 %
|
|
5 %
|
FX derivatives
|
|
1,214
|
|
1,142
|
|
Option pricing model
|
|
Volatility
|
|
(17) %
|
|
33 %
|
|
|
|
|
|
|
|
|
Quoted Vol
|
|
0 %
|
|
0 %
|
Other derivatives
|
|
816
|
|
234
1
|
|
Discounted cash flow
|
|
Credit spread (bps)
|
|
–
|
|
–
|
|
|
|
|
|
|
Option pricing model
|
|
Index volatility
|
|
0 %
|
|
98 %
|
|
|
|
|
|
|
|
|
Commodity correlation
|
|
0 %
|
|
0 %
|
Total market values from derivative
|
|
8,518
|
|
8,756
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
76
|
|
Deutsche Bank
|
Information on the consolidated balance sheet
|
|
Interim Report as of June 30, 2021
|
|
|
|
|
|
|
Dec 31, 2020
|
||||||||||
|
|
Fair value
|
|
|
|
|
|
|
|
|
||
in € m.
|
|
Assets
|
|
Liabilities
|
|
Valuation technique(s)
|
|
Significant unobservable
|
|
Range
|
||
Financial instruments held at fair value:
|
|
|
|
|
|
|
|
|
|
|
|
|
Market values from derivative financial
|
|
|
|
|
|
|
|
|
|
|
|
|
Interest rate derivatives
|
|
4,708
|
|
4,025
|
|
Discounted cash flow
|
|
Swap rate (bps)
|
|
(77)
|
|
787
|
|
|
|
|
|
|
|
|
Inflation swap rate
|
|
1 %
|
|
3 %
|
|
|
|
|
|
|
|
|
Constant default rate
|
|
0 %
|
|
10 %
|
|
|
|
|
|
|
|
|
Constant prepayment rate
|
|
2 %
|
|
30 %
|
|
|
|
|
|
|
Option pricing model
|
|
Inflation volatility
|
|
0 %
|
|
8 %
|
|
|
|
|
|
|
|
|
Interest rate volatility
|
|
0 %
|
|
19 %
|
|
|
|
|
|
|
|
|
IR - IR correlation
|
|
(25) %
|
|
97 %
|
|
|
|
|
|
|
|
|
Hybrid correlation
|
|
(70) %
|
|
100 %
|
Credit derivatives
|
|
575
|
|
585
|
|
Discounted cash flow
|
|
Credit spread (bps)
|
|
0
|
|
1,759
|
|
|
|
|
|
|
|
|
Recovery rate
|
|
0 %
|
|
77 %
|
|
|
|
|
|
|
Correlation pricing
|
|
Credit correlation
|
|
31 %
|
|
63 %
|
Equity derivatives
|
|
800
|
|
1,916
|
|
Option pricing model
|
|
Stock volatility
|
|
4 %
|
|
85 %
|
|
|
|
|
|
|
|
|
Index volatility
|
|
17 %
|
|
75 %
|
|
|
|
|
|
|
|
|
Index - index correlation
|
|
68 %
|
|
96 %
|
|
|
|
|
|
|
|
|
Stock - stock correlation
|
|
41 %
|
|
67 %
|
|
|
|
|
|
|
|
|
Stock Forwards
|
|
0 %
|
|
5 %
|
|
|
|
|
|
|
|
|
Index Forwards
|
|
0 %
|
|
4 %
|
FX derivatives
|
|
1,749
|
|
1,427
|
|
Option pricing model
|
|
Volatility
|
|
(16) %
|
|
42 %
|
|
|
|
|
|
|
|
|
Quoted Vol
|
|
0 %
|
|
0 %
|
Other derivatives
|
|
898
|
|
(54)1
|
|
Discounted cash flow
|
|
Credit spread (bps)
|
|
–
|
|
–
|
|
|
|
|
|
|
Option pricing model
|
|
Index volatility
|
|
0 %
|
|
113 %
|
|
|
|
|
|
|
|
|
Commodity correlation
|
|
16 %
|
|
52 %
|
Total market values from derivative
|
|
8,729
|
|
7,899
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
77
|
|
Deutsche Bank
|
Information on the consolidated balance sheet
|
|
Interim Report as of June 30, 2021
|
|
|
|
|
|
|
Six months ended
|
||
in € m.
|
|
Jun 30, 2021
|
|
Jun 30, 2020
|
Financial assets held at fair value:
|
|
|
|
|
Trading securities
|
|
298
|
|
(30)
|
Positive market values from derivative financial instruments
|
|
184
|
|
2,300
|
Other trading assets
|
|
64
|
|
(207)
|
Non-trading financial assets mandatory at fair value through profit or loss
|
|
156
|
|
40
|
Financial assets designated at fair value through profit or loss
|
|
1
|
|
1
|
Financial assets at fair value through other comprehensive income
|
|
3
|
|
(0)
|
Other financial assets at fair value
|
|
(3)
|
|
8
|
Total financial assets held at fair value
|
|
702
|
|
2,111
|
Financial liabilities held at fair value:
|
|
|
|
|
Trading securities
|
|
0
|
|
0
|
Negative market values from derivative financial instruments
|
|
159
|
|
(1,787)
|
Other trading liabilities
|
|
6
|
|
0
|
Financial liabilities designated at fair value through profit or loss
|
|
14
|
|
41
|
Other financial liabilities at fair value
|
|
(95)
|
|
219
|
Total financial liabilities held at fair value
|
|
84
|
|
(1,527)
|
Total
|
|
785
|
|
584
|
|
|
|
|
|
in € m.
|
|
Jun 30, 2021
|
|
Jun 30, 2020
|
Balance, beginning of year
|
|
454
|
|
441
|
New trades during the period
|
|
55
|
|
205
|
Amortization
|
|
(77)
|
|
(70)
|
Matured trades
|
|
(47)
|
|
(85)
|
Subsequent move to observability
|
|
(0)
|
|
(9)
|
Exchange rate changes
|
|
1
|
|
(1)
|
Balance, end of period
|
|
386
|
|
480
|
|
|
|
|
|
|
|
78
|
|
Deutsche Bank
|
Information on the consolidated balance sheet
|
|
Interim Report as of June 30, 2021
|
|
|
|
|
|
|
Jun 30, 2021
|
|
Dec 31, 2020
|
||||
in € m.
|
|
Carrying value
|
|
Fair value
|
|
Carrying value
|
|
Fair value
|
Financial assets:
|
|
|
|
|
|
|
|
|
Cash and central bank balances
|
|
198,268
|
|
198,268
|
|
166,208
|
|
166,208
|
Interbank balances (w/o central banks)
|
|
8,359
|
|
8,359
|
|
9,130
|
|
9,132
|
Central bank funds sold and securities purchased under resale agreements
|
|
8,519
|
|
8,528
|
|
8,533
|
|
8,519
|
Securities borrowed
|
|
33
|
|
33
|
|
0
|
|
0
|
Loans
|
|
440,747
|
|
446,302
|
|
426,691
|
|
434,442
|
Other financial assets
|
|
120,688
|
|
120,930
|
|
94,069
|
|
94,393
|
|
|
|
|
|
|
|
|
|
Financial liabilities:
|
|
|
|
|
|
|
|
|
Deposits
|
|
581,490
|
|
581,804
|
|
567,745
|
|
568,172
|
Central bank funds purchased and securities sold under repurchase
|
|
3,144
|
|
3,141
|
|
2,325
|
|
2,328
|
Securities loaned
|
|
1,123
|
|
1,123
|
|
1,697
|
|
1,697
|
Other short-term borrowings
|
|
3,428
|
|
3,430
|
|
3,553
|
|
3,556
|
Other financial liabilities
|
|
115,371
|
|
115,371
|
|
96,602
|
|
96,602
|
Long-term debt
|
|
149,139
|
|
151,534
|
|
149,163
|
|
150,691
|
Trust preferred securities
|
|
1,044
|
|
1,095
|
|
1,321
|
|
1,069
|
|
|
|
|
|
|
|
|
|
|
|
79
|
|
Deutsche Bank
|
Information on the consolidated balance sheet
|
|
Interim Report as of June 30, 2021
|
|
|
|
|
in million
|
|
Jun 30, 2021
|
|
Dec 31, 2020
|
Shares issued
|
|
2,066.8
|
|
2,066.8
|
Shares in treasury
|
|
3.0
|
|
1.3
|
Of which:
|
|
|
|
|
Buyback
|
|
3.0
|
|
1.3
|
Other
|
|
0.0
|
|
0.0
|
Shares outstanding
|
|
2,063.7
|
|
2,065.4
|
|
|
|
|
|
|
|
Six months ended Jun 30, 2021
|
||||||||
|
|
Allowance for credit losses5
|
||||||||
in € m.
|
|
Stage 1
|
|
Stage 2
|
|
Stage 3
|
|
Stage 3 POCI
|
|
Total
|
Balance, beginning of year
|
|
544
|
|
648
|
|
3,614
|
|
139
|
|
4,946
|
Movements in financial assets including new business
|
|
(201)
|
|
101
|
|
237
|
|
17
|
|
154
|
Transfers due to changes in creditworthiness¹
|
|
98
|
|
(113)
|
|
15
|
|
|
|
0
|
Changes due to modifications that did not result in
|
|
|
|
|
|
|
|
|
|
|
Changes in models
|
|
0
|
|
0
|
|
0
|
|
0
|
|
0
|
Financial assets that have been derecognized during the period²
|
|
0
|
|
0
|
|
(226)
|
|
0
|
|
(226)
|
Recovery of written off amounts
|
|
0
|
|
0
|
|
26
|
|
8
|
|
33
|
Foreign exchange and other changes
|
|
8
|
|
(3)
|
|
(28)
|
|
2
|
|
(21)
|
Balance, end of reporting period
|
|
448
|
|
634
|
|
3,638
|
|
166
|
|
4,886
|
|
|
|
|
|
|
|
|
|
|
|
Provision for credit losses excluding country risk3,4
|
|
(104)
|
|
(12)
|
|
252
|
|
17
|
|
154
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Six months ended Jun 30, 2020
|
||||||||
|
|
Allowance for credit losses5
|
||||||||
in € m.
|
|
Stage 1
|
|
Stage 2
|
|
Stage 3
|
|
Stage 3 POCI
|
|
Total
|
Balance, beginning of year
|
|
549
|
|
492
|
|
3,015
|
|
36
|
|
4,093
|
Movements in financial assets including new business
|
|
108
|
|
401
|
|
668
|
|
71
|
|
1,248
|
Transfers due to changes in creditworthiness¹
|
|
39
|
|
(93)
|
|
54
|
|
|
|
0
|
Changes due to modifications that did not result in
|
|
|
|
|
|
|
|
|
|
|
Changes in models
|
|
0
|
|
0
|
|
0
|
|
0
|
|
0
|
Financial assets that have been derecognized during the period²
|
|
0
|
|
0
|
|
(280)
|
|
0
|
|
(280)
|
Recovery of written off amounts
|
|
0
|
|
0
|
|
23
|
|
0
|
|
23
|
Foreign exchange and other changes
|
|
(14)
|
|
(5)
|
|
(43)
|
|
14
|
|
(47)
|
Balance, end of reporting period
|
|
683
|
|
796
|
|
3,438
|
|
121
|
|
5,037
|
|
|
|
|
|
|
|
|
|
|
|
Provision for credit losses excluding country risk3,4
|
|
148
|
|
308
|
|
722
|
|
71
|
|
1,248
|
|
|
|
|
|
|
|
|
|
|
|
|
|
80
|
|
Deutsche Bank
|
Information on the consolidated balance sheet
|
|
Interim Report as of June 30, 2021
|
|
|
|
|
|
|
Six months ended Jun 30, 2021
|
||||||||
|
|
Allowance for credit losses3
|
||||||||
in € m.
|
|
Stage 1
|
|
Stage 2
|
|
Stage 3
|
|
Stage 3 POCI
|
|
Total
|
Balance, beginning of year
|
|
144
|
|
74
|
|
200
|
|
0
|
|
419
|
Movements including new business
|
|
(41)
|
|
21
|
|
(3)
|
|
0
|
|
(23)
|
Transfers due to changes in creditworthiness1
|
|
(5)
|
|
1
|
|
4
|
|
|
|
0
|
Changes in models
|
|
0
|
|
0
|
|
0
|
|
0
|
|
0
|
Foreign exchange and other changes
|
|
2
|
|
5
|
|
(2)
|
|
0
|
|
4
|
Balance, end of reporting period
|
|
100
|
|
101
|
|
199
|
|
0
|
|
400
|
of which: Financial guarantees
|
|
64
|
|
61
|
|
143
|
|
0
|
|
268
|
Provision for credit losses excluding country risk2
|
|
(46)
|
|
22
|
|
1
|
|
0
|
|
(23)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Six months ended Jun 30, 2020
|
||||||||
|
|
Allowance for credit losses3
|
||||||||
in € m.
|
|
Stage 1
|
|
Stage 2
|
|
Stage 3
|
|
Stage 3 POCI
|
|
Total
|
Balance, beginning of year
|
|
128
|
|
48
|
|
166
|
|
0
|
|
342
|
Movements including new business
|
|
1
|
|
33
|
|
2
|
|
0
|
|
35
|
Transfers due to changes in creditworthiness1
|
|
(2)
|
|
0
|
|
1
|
|
|
|
0
|
Changes in models
|
|
0
|
|
0
|
|
0
|
|
0
|
|
0
|
Foreign exchange and other changes
|
|
7
|
|
8
|
|
11
|
|
0
|
|
26
|
Balance, end of reporting period
|
|
134
|
|
89
|
|
180
|
|
0
|
|
403
|
|
|
|
|
|
|
|
|
|
|
|
Provision for credit losses excluding country risk2
|
|
(1)
|
|
33
|
|
4
|
|
0
|
|
35
|
|
|
|
|
|
|
|
|
|
|
|
|
|
81
|
|
Deutsche Bank
|
Information on the consolidated balance sheet
|
|
Interim Report as of June 30, 2021
|
|
|
|
|
in € m.
|
|
Jun 30, 2021
|
|
Dec 31, 2020
|
Senior debt:
|
|
|
|
|
Bonds and notes
|
|
|
|
|
Fixed rate
|
|
67,011
|
|
67,496
|
Floating rate
|
|
21,275
|
|
25,895
|
Other
|
|
52,112
|
|
48,103
|
Subordinated debt:
|
|
|
|
|
Bonds and notes
|
|
|
|
|
Fixed rate
|
|
7,102
|
|
6,049
|
Floating rate
|
|
1,346
|
|
1,303
|
Other
|
|
293
|
|
316
|
Total long-term debt
|
|
149,139
|
|
149,163
|
|
|
|
|
|
|
|
82
|
|
Deutsche Bank
|
Other financial information
|
|
Interim Report as of June 30, 2021
|
|
|
|
|
in € m.
|
|
Jun 30, 2021
|
|
Dec 31, 2020
|
Irrevocable lending commitments
|
|
178,517
|
|
165,643
|
Revocable lending commitments
|
|
50,666
|
|
50,233
|
Contingent liabilities
|
|
52,738
|
|
47,978
|
Total
|
|
281,922
|
|
263,854
|
|
|
|
|
|
in € m.
|
|
Jun 30, 2021
|
|
Dec 31, 2020
|
Other commitments
|
|
151
|
|
144
|
Other contingent liabilities
|
|
76
|
|
73
|
Total
|
|
227
|
|
217
|
|
|
|
|
|
|
|
83
|
|
Deutsche Bank
|
Other financial information
|
|
Interim Report as of June 30, 2021
|
|
|
|
|
in € m.
|
|
Jun 30, 2021
|
|
Dec 31, 2020
|
Loans outstanding, beginning of period
|
|
214
|
|
228
|
Net movement in loans during the period
|
|
104
|
|
(19)
|
Changes in the group of consolidated companies
|
|
0
|
|
0
|
Exchange rate changes/other
|
|
(192)
|
|
5
|
Loans outstanding, end of period1
|
|
126
|
|
214
|
|
|
|
|
|
Other credit risk related transactions:
|
|
|
|
|
Allowance for loan losses
|
|
0
|
|
0
|
Provision for loan losses
|
|
0
|
|
0
|
Guarantees and commitments
|
|
130
|
|
42
|
|
|
|
|
|
in € m.
|
|
Jun 30, 2021
|
|
Dec 31, 2020
|
Deposits, beginning of period
|
|
49
|
|
58
|
Net movement in deposits during the period
|
|
1
|
|
(8)
|
Changes in the group of consolidated companies
|
|
0
|
|
0
|
Exchange rate changes/other
|
|
0
|
|
(0)
|
Deposits, end of period
|
|
50
|
|
49
|
|
|
|
|
|
|
|
84
|
|
Deutsche Bank
|
Other financial information
|
|
Interim Report as of June 30, 2021
|
|
|
|
|
|
|
85
|
|
Deutsche Bank
|
Other financial information
|
|
Interim Report as of June 30, 2021
|
|
|
|
|
|
|
Jun 30,2021
|
||||||||||||
in € m.
|
|
USD IBOR
|
|
GBP IBOR
|
|
CHF IBOR
|
|
JPY IBOR
|
|
EONIA
|
|
Other IBORs
|
|
Multiple basis1
|
Non-Derivative Financial assets:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Bonds (floating rate notes)
|
|
394
|
|
-
|
|
-
|
|
-
|
|
-
|
|
-
|
|
-
|
Securitizations
|
|
80
|
|
16
|
|
-
|
|
-
|
|
-
|
|
-
|
|
-
|
Syndicated Loans
|
|
24,739
|
|
3,702
|
|
907
|
|
39
|
|
-
|
|
365
|
|
-
|
Repurchase agreements / Other Secured Lending
|
|
286
|
|
-
|
|
-
|
|
-
|
|
-
|
|
-
|
|
-
|
Loans / Advances (Total Limit)
|
|
10,223
|
|
3,513
|
|
168
|
|
150
|
|
1,279
|
|
454
|
|
-
|
Retail / Commercial Mortgages
|
|
293
|
|
-
|
|
-
|
|
53
|
|
-
|
|
-
|
|
-
|
Other
|
|
998
|
|
143
|
|
-
|
|
-
|
|
-
|
|
-
|
|
-
|
Derivative Financial assets:
2
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Interest Rate Derivatives – Exchange Traded
|
|
15,987
|
|
81,621
|
|
2,396
|
|
-
|
|
-
|
|
-
|
|
-
|
Interest Rate Derivatives – OTC
|
|
1,561,120
|
|
740,229
|
|
71,273
|
|
499,656
|
|
286,856
|
|
34,061
|
|
5
|
Other OTC Derivatives
|
|
188,453
|
|
6,163
|
|
1,562
|
|
854
|
|
-
|
|
47
|
|
163,874
|
Total financial assets
|
|
1,802,574
|
|
835,387
|
|
76,307
|
|
500,753
|
|
288,135
|
|
34,927
|
|
163,879
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Non-Derivative Financial liabilities:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Bonds (floating rate notes)
|
|
6,376
|
|
758
|
|
-
|
|
21
|
|
-
|
|
-
|
|
-
|
Securitizations
|
|
11
|
|
8
|
|
-
|
|
-
|
|
-
|
|
-
|
|
-
|
Deposits
|
|
3,222
|
|
0
|
|
-
|
|
19
|
|
21,993
|
|
-
|
|
-
|
Other
|
|
35
|
|
2
|
|
-
|
|
-
|
|
-
|
|
-
|
|
-
|
Derivative Financial liabilities:
2
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Interest Rate Derivatives – OTC
|
|
1,552,468
|
|
762,906
|
|
67,577
|
|
478,371
|
|
300,901
|
|
31,696
|
|
1
|
Other OTC Derivatives
|
|
182,610
|
|
7,729
|
|
2,614
|
|
5,431
|
|
139
|
|
71
|
|
160,427
|
Total financial liabilities
|
|
1,744,722
|
|
771,403
|
|
70,191
|
|
483,843
|
|
323,033
|
|
31,767
|
|
160,428
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Off-balance sheet:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Loan Commitments
|
|
57,369
|
|
3,025
|
|
682
|
|
201
|
|
4
|
|
18,436
|
|
-
|
Other Commitments
|
|
10
|
|
-
|
|
-
|
|
-
|
|
-
|
|
-
|
|
-
|
Financial Guarantees
|
|
-
|
|
-
|
|
-
|
|
-
|
|
-
|
|
-
|
|
-
|
Total off-balance sheet
|
|
57,380
|
|
3,025
|
|
682
|
|
201
|
|
4
|
|
18,436
|
|
-
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
86
|
|
Deutsche Bank
|
Other financial information
|
|
Interim Report as of June 30, 2021
|
|
|
|
|
|
|
87
|
|
Deutsche Bank
|
Other financial information
|
|
Interim Report as of June 30, 2021
|
|
|
|
|
|
|
88
|
|
Deutsche Bank
|
Other financial information
|
|
Interim Report as of June 30, 2021
|
|
|
|
|
|
|
89
|
|
Deutsche Bank
|
Other financial information
|
|
Interim Report as of June 30, 2021
|
|
|
|
|
|
|
Three months ended Jun 30, 2021
|
||||||||||||
|
Corporate
|
|
Investment
|
|
Private
|
|
Asset
|
|
Capital
|
|
Corporate &
|
|
Total
|
|
Profit (loss) before tax
|
|
246
|
|
1,047
|
|
(11)
|
|
180
|
|
(258)
|
|
(34)
|
|
1,170
|
Profit (loss)
|
|
177
|
|
754
|
|
(8)
|
|
130
|
|
(185)
|
|
(30)
|
|
837
|
Profit (loss) attributable to noncontrolling interests
|
|
0
|
|
0
|
|
0
|
|
0
|
|
0
|
|
33
|
|
33
|
Profit (loss) attributable to DB shareholders and additional equity components
|
|
177
|
|
754
|
|
(8)
|
|
130
|
|
(185)
|
|
(64)
|
|
804
|
Profit (loss) attributable to additional equity components
|
|
20
|
|
46
|
|
23
|
|
3
|
|
9
|
|
0
|
|
102
|
Profit (loss) attributable to Deutsche Bank shareholders
|
|
157
|
|
708
|
|
(31)
|
|
126
|
|
(195)
|
|
(64)
|
|
701
|
Average allocated shareholders’ equity
|
|
10,339
|
|
23,786
|
|
12,648
|
|
4,554
|
|
4,671
|
|
198
|
|
56,196
|
Deduct: Average allocated goodwill and other intangible assets1
|
|
721
|
|
1,094
|
|
1,270
|
|
2,878
|
|
103
|
|
0
|
|
6,066
|
Average allocated tangible shareholders’ equity
|
|
9,618
|
|
22,692
|
|
11,378
|
|
1,676
|
|
4,568
|
|
198
|
|
50,130
|
Post-tax return on average shareholders’ equity
|
|
6.1 %
|
|
11.9 %
|
|
(1.0 %)
|
|
11.1 %
|
|
(16.7 %)
|
|
N/M
|
|
5.0 %
|
Post-tax return on average tangible shareholders’ equity
|
|
6.5 %
|
|
12.5 %
|
|
(1.1 %)
|
|
30.1 %
|
|
(17.1 %)
|
|
N/M
|
|
5.6 %
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
90
|
|
Deutsche Bank
|
Other financial information
|
|
Interim Report as of June 30, 2021
|
|
|
|
|
|
|
Three months ended Jun 30, 2020
|
||||||||||||
in € m.
|
|
Corporate
|
|
Investment
|
|
Private
|
|
Asset
|
|
Capital
|
|
Corporate &
|
|
Total
|
Profit (loss) before tax
|
|
78
|
|
979
|
|
(257)
|
|
114
|
|
(591)
|
|
(110)
|
|
213
|
Profit (loss)
|
|
56
|
|
705
|
|
(185)
|
|
82
|
|
(426)
|
|
(148)
|
|
84
|
Profit (loss) attributable to noncontrolling interests
|
|
0
|
|
0
|
|
0
|
|
0
|
|
0
|
|
32
|
|
32
|
Profit (loss) attributable to DB shareholders and additional equity components
|
|
56
|
|
705
|
|
(185)
|
|
82
|
|
(426)
|
|
(181)
|
|
51
|
Profit (loss) attributable to additional equity components
|
|
20
|
|
46
|
|
21
|
|
4
|
|
14
|
|
0
|
|
105
|
Profit (loss) attributable to Deutsche Bank shareholders
|
|
36
|
|
659
|
|
(206)
|
|
78
|
|
(440)
|
|
(181)
|
|
(53)
|
Average allocated shareholders’ equity
|
|
9,942
|
|
23,101
|
|
11,190
|
|
4,820
|
|
6,563
|
|
(82)
|
|
55,534
|
Deduct: Average allocated goodwill and other intangible assets1
|
|
614
|
|
1,100
|
|
1,258
|
|
3,054
|
|
160
|
|
(0)
|
|
6,187
|
Average allocated tangible shareholders’ equity
|
|
9,328
|
|
22,001
|
|
9,932
|
|
1,765
|
|
6,403
|
|
(82)
|
|
49,347
|
Post-tax return on average shareholders’ equity
|
|
1.5 %
|
|
11.4 %
|
|
(7.4 %)
|
|
6.5 %
|
|
(26.8%)
|
|
N/M
|
|
(0.4 %)
|
Post-tax return on average tangible shareholders’ equity
|
|
1.5 %
|
|
12.0 %
|
|
(8.3 %)
|
|
17.7 %
|
|
(27.5%)
|
|
N/M
|
|
(0.4 %)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Six months ended Jun 30, 2021
|
||||||||||||
|
Corporate
|
|
Investment
|
|
Private
|
|
Asset
|
|
Capital
|
|
Corporate &
|
|
Total
|
|
Profit (loss) before tax
|
|
475
|
|
2,538
|
|
263
|
|
364
|
|
(668)
|
|
103
|
|
3,075
|
Profit (loss)
|
|
342
|
|
1,827
|
|
189
|
|
262
|
|
(481)
|
|
(59)
|
|
2,081
|
Profit (loss) attributable to noncontrolling interests
|
|
0
|
|
0
|
|
0
|
|
0
|
|
0
|
|
69
|
|
69
|
Profit (loss) attributable to DB shareholders and additional equity components
|
|
342
|
|
1,827
|
|
189
|
|
262
|
|
(481)
|
|
(128)
|
|
2,012
|
Profit (loss) attributable to additional equity components
|
|
38
|
|
89
|
|
45
|
|
7
|
|
18
|
|
0
|
|
196
|
Profit (loss) attributable to Deutsche Bank shareholders
|
|
305
|
|
1,739
|
|
145
|
|
255
|
|
(499)
|
|
(128)
|
|
1,816
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Average allocated shareholders’ equity
|
|
10,207
|
|
23,508
|
|
12,567
|
|
4,577
|
|
4,738
|
|
131
|
|
55,729
|
Deduct: Average allocated goodwill and other intangible assets1
|
|
706
|
|
1,084
|
|
1,266
|
|
2,874
|
|
105
|
|
0
|
|
6,035
|
Average allocated tangible shareholders’ equity
|
|
9,502
|
|
22,424
|
|
11,300
|
|
1,703
|
|
4,633
|
|
131
|
|
49,694
|
Post-tax return on average shareholders’ equity
|
|
6.0 %
|
|
14.8 %
|
|
2.3 %
|
|
11.1 %
|
|
(21.1 %)
|
|
N/M
|
|
6.5 %
|
Post-tax return on average tangible shareholders’ equity
|
|
6.4 %
|
|
15.5 %
|
|
2.6 %
|
|
30.0 %
|
|
(21.5 %)
|
|
N/M
|
|
7.3 %
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
91
|
|
Deutsche Bank
|
Other financial information
|
|
Interim Report as of June 30, 2021
|
|
|
|
|
|
|
Six months ended Jun 30, 2020
|
||||||||||||
in € m.
|
|
Corporate
|
|
Investment
|
|
Private
|
|
Asset
|
|
Capital
|
|
Corporate &
|
|
Total
|
Profit (loss) before tax
|
|
199
|
|
1,616
|
|
(114)
|
|
224
|
|
(1,356)
|
|
(282)
|
|
287
|
Profit (loss)
|
|
143
|
|
1,164
|
|
(82)
|
|
161
|
|
(976)
|
|
(330)
|
|
80
|
Profit (loss) attributable to noncontrolling interests
|
|
0
|
|
0
|
|
0
|
|
0
|
|
0
|
|
56
|
|
56
|
Profit (loss) attributable to DB shareholders and additional equity components
|
|
143
|
|
1,164
|
|
(82)
|
|
161
|
|
(976)
|
|
(385)
|
|
24
|
Profit (loss) attributable to additional equity components
|
|
37
|
|
82
|
|
38
|
|
7
|
|
26
|
|
0
|
|
190
|
Profit (loss) attributable to Deutsche Bank shareholders
|
|
107
|
|
1,082
|
|
(121)
|
|
154
|
|
(1,003)
|
|
(385)
|
|
(166)
|
Average allocated shareholders’ equity
|
|
10,021
|
|
22,708
|
|
11,257
|
|
4,847
|
|
6,918
|
|
(20)
|
|
55,730
|
Deduct: Average allocated goodwill and other intangible assets1
|
|
558
|
|
1,184
|
|
1,268
|
|
3,049
|
|
156
|
|
0
|
|
6,215
|
Average allocated tangible shareholders’ equity
|
|
9,463
|
|
21,524
|
|
9,989
|
|
1,799
|
|
6,762
|
|
(20)
|
|
49,515
|
Post-tax return on average shareholders’ equity
|
|
2.1 %
|
|
9.5 %
|
|
(2.1 %)
|
|
6.4 %
|
|
(29.0 %)
|
|
N/M
|
|
(0.6 %)
|
Post-tax return on average tangible shareholders’ equity
|
|
2.3 %
|
|
10.1 %
|
|
(2.4 %)
|
|
17.1 %
|
|
(29.7 %)
|
|
N/M
|
|
(0.7 %)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
in € m.
|
|
Three months ended Jun 30, 2021
|
|
Three months ended Jun 30, 2020
|
|
Six months ended Jun 30, 2021
|
|
Six months ended Jun 30, 2020
|
Profit (loss) attributable to Deutsche Bank shareholders
|
|
701
|
|
(53)
|
|
1,816
|
|
(166)
|
Specific revenue items
|
|
(24)
|
|
(18)
|
|
(35)
|
|
(94)
|
Transformation charges
|
|
99
|
|
95
|
|
215
|
|
179
|
Impairment of goodwill / other intangibles
|
|
0
|
|
0
|
|
0
|
|
0
|
Restructuring & severance
|
|
123
|
|
185
|
|
181
|
|
273
|
Tax adjustments
|
|
(34)
|
|
(104)
|
|
(81)
|
|
(100)
|
of which: Tax effect of above adjustment items1
|
|
(55)
|
|
(73)
|
|
(101)
|
|
(100)
|
of which: Adjustments for share based payment related effects
|
|
0
|
|
(61)
|
|
(1)
|
|
(35)
|
of which: Adjustments for DTA valuation adjustments
|
|
21
|
|
30
|
|
21
|
|
35
|
Adjusted profit (loss) attributable to Deutsche Bank shareholders
|
|
865
|
|
104
|
|
2,096
|
|
92
|
Average allocated tangible shareholders' equity
|
|
50,130
|
|
49,347
|
|
49,694
|
|
49,515
|
Adjusted post-tax return on average tangible shareholders’ equity
|
|
6.9 %
|
|
0.8 %
|
|
8.4 %
|
|
0.4 %
|
|
|
|
|
|
|
|
|
|
in € m.
|
|
Three months ended Jun 30, 2021
|
|
Three months ended Jun 30, 2020
|
|
Six months ended Jun 30, 2021
|
|
Six months ended Jun 30, 2020
|
Profit (loss) before tax - Group
|
|
1,170
|
|
213
|
|
3,075
|
|
287
|
Profit (loss) before tax - CRU
|
|
(258)
|
|
(591)
|
|
(668)
|
|
(1,356)
|
Profit (loss) before tax - Core Bank
|
|
1,428
|
|
804
|
|
3,743
|
|
1,643
|
|
|
|
|
|
|
|
|
|
|
|
92
|
|
Deutsche Bank
|
Other financial information
|
|
Interim Report as of June 30, 2021
|
|
|
|
|
in € m.
|
|
Three months ended Jun 30, 2021
|
|
Three months ended Jun 30, 2020
|
|
Six months ended Jun 30, 2021
|
|
Six months ended Jun 30, 2020
|
Profit (loss) before tax
|
|
1,428
|
|
804
|
|
3,743
|
|
1,643
|
Profit (loss)
|
|
1,022
|
|
510
|
|
2,562
|
|
1,056
|
Profit (loss) attributable to noncontrolling interests
|
|
33
|
|
32
|
|
69
|
|
56
|
Profit (loss) attributable to Deutsche Bank shareholders and additional equity components
|
|
989
|
|
477
|
|
2,493
|
|
1,000
|
Profit (loss) attributable to additional equity components
|
|
93
|
|
91
|
|
177
|
|
164
|
Profit (loss) attributable to Deutsche Bank shareholders
|
|
896
|
|
387
|
|
2,315
|
|
837
|
|
|
|
|
|
|
|
|
|
Average allocated shareholders' equity
|
|
51,525
|
|
48,971
|
|
50,990
|
|
48,812
|
Deduct: Average allocated goodwill and other intangible assets
|
|
5,963
|
|
6,027
|
|
5,930
|
|
6,059
|
Average allocated tangible shareholders' equity
|
|
45,562
|
|
42,944
|
|
45,060
|
|
42,753
|
Post-tax return on average shareholders’ equity
|
|
7.0 %
|
|
3.2 %
|
|
9.1 %
|
|
3.4 %
|
Post-tax return on average tangible shareholders’ equity
|
|
7.9 %
|
|
3.6 %
|
|
10.3 %
|
|
3.9 %
|
|
|
|
|
|
|
|
|
|
in € m.
|
|
Three months ended Jun 30, 2021
|
|
Three months ended Jun 30, 2020
|
|
Six months ended Jun 30, 2021
|
|
Six months ended Jun 30, 2020
|
Profit (loss) before tax
|
|
1,428
|
|
804
|
|
3,743
|
|
1,643
|
Specific revenue items
|
|
(25)
|
|
(41)
|
|
(35)
|
|
(93)
|
Transformation charges
|
|
86
|
|
41
|
|
191
|
|
96
|
Impairment of goodwill / other intangibles
|
|
0
|
|
0
|
|
0
|
|
0
|
Restructuring & severance
|
|
116
|
|
182
|
|
173
|
|
266
|
Adjusted profit (loss) before tax
|
|
1,605
|
|
986
|
|
4,072
|
|
1,912
|
|
|
|
|
|
|
|
|
|
in € m.
|
|
Three months ended Jun 30, 2021
|
|
Three months ended Jun 30, 2020
|
|
Six months ended Jun 30, 2021
|
|
Six months ended Jun 30, 2020
|
Profit (loss) attributable to Deutsche Bank shareholders
|
|
896
|
|
387
|
|
2,315
|
|
837
|
Specific revenue items
|
|
(25)
|
|
(41)
|
|
(35)
|
|
(93)
|
Transformation charges
|
|
86
|
|
41
|
|
191
|
|
96
|
Impairment of goodwill / other intangibles
|
|
0
|
|
0
|
|
0
|
|
0
|
Restructuring & severance
|
|
116
|
|
182
|
|
173
|
|
266
|
Tax adjustments
|
|
(28)
|
|
(82)
|
|
(72)
|
|
(75)
|
of which: Tax effect of above adjustment items1
|
|
(49)
|
|
(51)
|
|
(92)
|
|
(75)
|
of which: Adjustments for share based payment related effects
|
|
0
|
|
(61)
|
|
(1)
|
|
(35)
|
of which: Adjustments for DTA valuation adjustments
|
|
21
|
|
30
|
|
21
|
|
35
|
Adjusted profit (loss) attributable to Deutsche Bank shareholders
|
|
1,044
|
|
487
|
|
2,572
|
|
1,031
|
Average allocated tangible shareholders' equity
|
|
45,562
|
|
42,944
|
|
45,060
|
|
42,753
|
Adjusted post-tax return on average tangible shareholders’ equity
|
|
9.2 %
|
|
4.5 %
|
|
11.4 %
|
|
4.8 %
|
|
|
|
|
|
|
|
|
|
|
|
93
|
|
Deutsche Bank
|
Other financial information
|
|
Interim Report as of June 30, 2021
|
|
|
|
|
in € m.
|
|
Three months ended Jun 30, 2021
|
|
Three months ended Jun 30, 2020
|
|
Six months ended Jun 30, 2021
|
|
Six months ended Jun 30, 2020
|
Compensation and benefits
|
|
2
|
|
4
|
|
4
|
|
4
|
Information Technology
|
|
47
|
|
70
|
|
91
|
|
142
|
Professional services
|
|
10
|
|
4
|
|
17
|
|
7
|
Occupancy
|
|
40
|
|
11
|
|
102
|
|
19
|
Communication, data services, marketing
|
|
1
|
|
5
|
|
2
|
|
5
|
Other
|
|
0
|
|
0
|
|
0
|
|
1
|
Transformation charges
|
|
99
|
|
95
|
|
215
|
|
179
|
|
|
|
|
|
|
|
|
|
|
|
Three months ended Jun 30,2021
|
||||||||||||
in € m.
|
|
Corporate
|
|
Investment
|
|
Private
|
|
Asset
|
|
Capital
|
|
Corporate &
|
|
Total
|
Noninterest expenses
|
|
1,004
|
|
1,346
|
|
1,913
|
|
395
|
|
259
|
|
81
|
|
4,998
|
Impairment of goodwill and other intangible assets
|
|
0
|
|
0
|
|
0
|
|
0
|
|
0
|
|
0
|
|
0
|
Litigation charges, net
|
|
2
|
|
5
|
|
128
|
|
1
|
|
2
|
|
11
|
|
148
|
Restructuring and severance
|
|
18
|
|
24
|
|
76
|
|
1
|
|
8
|
|
(2)
|
|
123
|
Adjusted costs
|
|
984
|
|
1,318
|
|
1,710
|
|
394
|
|
249
|
|
72
|
|
4,727
|
Transformation charges
|
|
11
|
|
12
|
|
57
|
|
0
|
|
13
|
|
6
|
|
99
|
Adjusted costs ex. transformation charges
|
|
973
|
|
1,306
|
|
1,652
|
|
393
|
|
236
|
|
66
|
|
4,628
|
Expenses eligible for reimbursement related to Prime Finance
|
|
|
|
|
|
|
|
|
|
|
|
|
|
84
|
Adjusted costs ex. transformation charges and expenses eligible for reimbursement related to Prime Finance
|
|
|
|
|
|
|
|
|
|
|
|
|
|
4,544
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
94
|
|
Deutsche Bank
|
Other financial information
|
|
Interim Report as of June 30, 2021
|
|
|
|
|
|
|
Three months ended Jun 30,2020
|
||||||||||||
in € m.
|
|
Corporate
|
|
Investment
|
|
Private
|
|
Asset
|
|
Capital
|
|
Corporate &
|
|
Total
|
Noninterest expenses
|
|
1,120
|
|
1,327
|
|
1,992
|
|
400
|
|
496
|
|
34
|
|
5,367
|
Impairment of goodwill and other intangible assets
|
|
0
|
|
0
|
|
0
|
|
0
|
|
0
|
|
0
|
|
0
|
Litigation charges, net
|
|
81
|
|
2
|
|
75
|
|
(0)
|
|
9
|
|
(1)
|
|
165
|
Restructuring and severance
|
|
10
|
|
16
|
|
136
|
|
18
|
|
3
|
|
2
|
|
185
|
Adjusted costs
|
|
1,029
|
|
1,309
|
|
1,781
|
|
382
|
|
484
|
|
33
|
|
5,018
|
Transformation charges
|
|
4
|
|
28
|
|
51
|
|
0
|
|
54
|
|
(42)
|
|
95
|
Adjusted costs ex. transformation charges
|
|
1,025
|
|
1,281
|
|
1,730
|
|
382
|
|
430
|
|
75
|
|
4,923
|
Expenses eligible for reimbursement related to Prime Finance
|
|
|
|
|
|
|
|
|
|
|
|
|
|
92
|
Adjusted costs ex. transformation charges and expenses eligible for reimbursement related to Prime Finance
|
|
|
|
|
|
|
|
|
|
|
|
|
|
4,831
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Six months ended Jun 30, 2021
|
||||||||||||
in € m.
|
|
Corporate
|
|
Investment
|
|
Private
|
|
Asset
|
|
Capital
|
|
Corporate &
|
|
Total
|
Noninterest expenses
|
|
2,109
|
|
2,951
|
|
3,718
|
|
800
|
|
757
|
|
237
|
|
10,572
|
Impairment of goodwill and other intangible assets
|
|
0
|
|
0
|
|
0
|
|
0
|
|
0
|
|
0
|
|
0
|
Litigation charges, net
|
|
2
|
|
17
|
|
129
|
|
1
|
|
66
|
|
11
|
|
226
|
Restructuring and severance
|
|
43
|
|
31
|
|
87
|
|
6
|
|
8
|
|
6
|
|
181
|
Adjusted costs
|
|
2,064
|
|
2,904
|
|
3,502
|
|
793
|
|
683
|
|
220
|
|
10,165
|
Transformation charges
|
|
22
|
|
25
|
|
93
|
|
1
|
|
25
|
|
49
|
|
215
|
Adjusted costs ex. transformation charges
|
|
2,042
|
|
2,878
|
|
3,409
|
|
792
|
|
658
|
|
170
|
|
9,950
|
Expenses eligible for reimbursement related to Prime Finance
|
|
|
|
|
|
|
|
|
|
|
|
|
|
161
|
Adjusted costs ex. transformation charges and expenses eligible for reimbursement related to Prime Finance
|
|
|
|
|
|
|
|
|
|
|
|
|
|
9,789
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Six months ended Jun 30, 2020
|
||||||||||||
in € m.
|
|
Corporate
|
|
Investment
|
|
Private
|
|
Asset
|
|
Capital
|
|
Corporate &
|
|
Total
|
Noninterest expenses
|
|
2,217
|
|
2,802
|
|
3,877
|
|
774
|
|
1,190
|
|
145
|
|
11,006
|
Impairment of goodwill and other intangible assets
|
|
0
|
|
0
|
|
0
|
|
0
|
|
0
|
|
0
|
|
0
|
Litigation charges, net
|
|
81
|
|
3
|
|
77
|
|
(0)
|
|
9
|
|
10
|
|
179
|
Restructuring and severance
|
|
21
|
|
14
|
|
202
|
|
25
|
|
7
|
|
4
|
|
273
|
Adjusted costs
|
|
2,116
|
|
2,785
|
|
3,598
|
|
749
|
|
1,174
|
|
131
|
|
10,554
|
Transformation charges
|
|
30
|
|
42
|
|
65
|
|
1
|
|
83
|
|
(41)
|
|
179
|
Adjusted costs ex. transformation charges
|
|
2,086
|
|
2,743
|
|
3,533
|
|
748
|
|
1,091
|
|
173
|
|
10,375
|
Expenses eligible for reimbursement related to Prime Finance
|
|
|
|
|
|
|
|
|
|
|
|
|
|
190
|
Adjusted costs ex. transformation charges and expenses eligible for reimbursement related to Prime Finance
|
|
|
|
|
|
|
|
|
|
|
|
|
|
10,185
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
95
|
|
Deutsche Bank
|
Other financial information
|
|
Interim Report as of June 30, 2021
|
|
|
|
|
|
|
Three months ended Jun 30, 2021
|
||||||||||||
in € m.
|
|
Corporate
|
|
Investment
|
|
Private
|
|
Asset
|
|
Capital
|
|
Corporate &
|
|
Total
|
Net revenues
|
|
1,230
|
|
2,394
|
|
2,018
|
|
626
|
|
(24)
|
|
(2)
|
|
6,243
|
DVA
|
|
0
|
|
(9)
|
|
0
|
|
0
|
|
(1)
|
|
0
|
|
(11)
|
Change in valuation of an investment
|
|
0
|
|
0
|
|
0
|
|
0
|
|
0
|
|
0
|
|
0
|
Sal. Oppenheim workout
|
|
0
|
|
0
|
|
35
|
|
0
|
|
0
|
|
0
|
|
35
|
Revenues excluding specific items
|
|
1,230
|
|
2,403
|
|
1,984
|
|
626
|
|
(23)
|
|
(2)
|
|
6,219
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three months ended Jun 30, 2020
|
||||||||||||
in € m.
|
|
Corporate
|
|
Investment
|
|
Private
|
|
Asset
|
|
Capital
|
|
Corporate &
|
|
Total
|
Net revenues
|
|
1,341
|
|
2,676
|
|
1,960
|
|
549
|
|
(66)
|
|
(118)
|
|
6,342
|
DVA
|
|
0
|
|
(27)
|
|
0
|
|
0
|
|
(23)
|
|
0
|
|
(49)
|
Change in valuation of an investment
|
|
0
|
|
42
|
|
0
|
|
0
|
|
0
|
|
0
|
|
42
|
Sal. Oppenheim workout
|
|
0
|
|
0
|
|
25
|
|
0
|
|
0
|
|
0
|
|
25
|
Revenues excluding specific items
|
|
1,341
|
|
2,661
|
|
1,934
|
|
549
|
|
(44)
|
|
(118)
|
|
6,324
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Six months ended Jun 30, 2021
|
||||||||||||
in € m.
|
|
Corporate
|
|
Investment
|
|
Private
|
|
Asset
|
|
Capital
|
|
Corporate &
|
|
Total
|
Revenues
|
|
2,544
|
|
5,491
|
|
4,196
|
|
1,263
|
|
57
|
|
241
|
|
13,792
|
DVA
|
|
0
|
|
(24)
|
|
0
|
|
0
|
|
0
|
|
0
|
|
(24)
|
Change in valuation of an investment
|
|
0
|
|
0
|
|
0
|
|
0
|
|
0
|
|
0
|
|
0
|
Sal. Oppenheim workout
|
|
0
|
|
0
|
|
59
|
|
0
|
|
0
|
|
0
|
|
59
|
Revenues excluding specific items
|
|
2,544
|
|
5,516
|
|
4,137
|
|
1,263
|
|
57
|
|
241
|
|
13,756
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Six months ended Jun 30, 2020
|
||||||||||||
in € m.
|
|
Corporate
|
|
Investment
|
|
Private
|
|
Asset
|
|
Capital
|
|
Corporate &
|
|
Total
|
Revenues
|
|
2,666
|
|
5,030
|
|
4,127
|
|
1,068
|
|
(123)
|
|
(207)
|
|
12,560
|
DVA
|
|
0
|
|
20
|
|
0
|
|
0
|
|
1
|
|
0
|
|
21
|
Change in valuation of an investment
|
|
0
|
|
32
|
|
0
|
|
0
|
|
0
|
|
0
|
|
32
|
Sal. Oppenheim workout
|
|
0
|
|
0
|
|
42
|
|
0
|
|
0
|
|
0
|
|
42
|
Revenues excluding specific items
|
|
2,666
|
|
4,979
|
|
4,085
|
|
1,068
|
|
(124)
|
|
(207)
|
|
12,466
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
96
|
|
Deutsche Bank
|
Other financial information
|
|
Interim Report as of June 30, 2021
|
|
|
|
|
|
|
Three months ended Jun 30, 2021
|
|
||||||||||||
in € m.
|
|
Corporate
|
|
Investment
|
|
Private
|
|
Asset
|
|
Capital
|
|
Corporate &
|
|
Total
|
|
Profit (loss) before tax
|
|
246
|
|
1,047
|
|
(11)
|
|
180
|
|
(258)
|
|
(34)
|
|
1,170
|
|
Specific revenue items
|
|
0
|
|
9
|
|
(35)
|
|
0
|
|
1
|
|
0
|
|
(24)
|
|
Transformation charges
|
|
11
|
|
12
|
|
57
|
|
0
|
|
13
|
|
6
|
|
99
|
|
Impairment of goodwill / other intangibles
|
|
0
|
|
0
|
|
0
|
|
0
|
|
0
|
|
0
|
|
0
|
|
Restructuring & severance
|
|
18
|
|
24
|
|
76
|
|
1
|
|
8
|
|
(2)
|
|
123
|
|
Adjusted profit (loss) before tax
|
|
274
|
|
1,092
|
|
87
|
|
181
|
|
(236)
|
|
(30)
|
|
1,368
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three months ended Jun 30, 2020
|
|
||||||||||||
in € m.
|
|
Corporate
|
|
Investment
|
|
Private
|
|
Asset
|
|
Capital
|
|
Corporate &
|
|
Total
|
|
Profit (loss) before tax
|
|
78
|
|
979
|
|
(257)
|
|
114
|
|
(591)
|
|
(110)
|
|
213
|
|
Specific revenue items
|
|
0
|
|
(16)
|
|
(25)
|
|
0
|
|
23
|
|
0
|
|
(18)
|
|
Transformation charges
|
|
4
|
|
28
|
|
51
|
|
0
|
|
54
|
|
(42)
|
|
95
|
|
Impairment of goodwill / other intangibles
|
|
0
|
|
0
|
|
0
|
|
0
|
|
0
|
|
0
|
|
0
|
|
Restructuring & severance
|
|
10
|
|
16
|
|
136
|
|
18
|
|
3
|
|
2
|
|
185
|
|
Adjusted profit (loss) before tax
|
|
92
|
|
1,007
|
|
(95)
|
|
132
|
|
(511)
|
|
(150)
|
|
474
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Six months ended Jun 30, 2021
|
|
||||||||||||
in € m.
|
|
Corporate
|
|
Investment
|
|
Private
|
|
Asset
|
|
Capital
|
|
Corporate &
|
|
Total
|
|
Profit (loss) before tax
|
|
475
|
|
2,538
|
|
263
|
|
364
|
|
(668)
|
|
103
|
|
3,075
|
|
Specific revenue items
|
|
0
|
|
24
|
|
(59)
|
|
0
|
|
(0)
|
|
0
|
|
(35)
|
|
Transformation charges
|
|
22
|
|
25
|
|
93
|
|
1
|
|
25
|
|
49
|
|
215
|
|
Impairment of goodwill / other intangibles
|
|
0
|
|
0
|
|
0
|
|
0
|
|
0
|
|
0
|
|
0
|
|
Restructuring & severance
|
|
43
|
|
31
|
|
87
|
|
6
|
|
8
|
|
6
|
|
181
|
|
Adjusted profit (loss) before tax
|
|
540
|
|
2,618
|
|
384
|
|
371
|
|
(636)
|
|
159
|
|
3,436
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Six months ended Jun 30, 2020
|
|
||||||||||||
in € m.
|
|
Corporate
|
|
Investment
|
|
Private
|
|
Asset
|
|
Capital
|
|
Corporate &
|
|
Total
|
|
Profit (loss) before tax
|
|
199
|
|
1,616
|
|
(114)
|
|
224
|
|
(1,356)
|
|
(282)
|
|
287
|
|
Specific revenue items
|
|
0
|
|
(51)
|
|
(42)
|
|
0
|
|
(1)
|
|
0
|
|
(94)
|
|
Transformation charges
|
|
30
|
|
42
|
|
65
|
|
1
|
|
83
|
|
(41)
|
|
179
|
|
Impairment of goodwill / other intangibles
|
|
0
|
|
0
|
|
0
|
|
0
|
|
0
|
|
0
|
|
0
|
|
Restructuring & severance
|
|
21
|
|
14
|
|
202
|
|
25
|
|
7
|
|
4
|
|
273
|
|
Adjusted profit (loss) before tax
|
|
249
|
|
1,621
|
|
112
|
|
250
|
|
(1,267)
|
|
(319)
|
|
645
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
97
|
|
Deutsche Bank
|
Other financial information
|
|
Interim Report as of June 30, 2021
|
|
|
|
|
in € m.
|
|
Three months ended Jun 30, 2021
|
|
Six months ended Jun 30, 2021
|
Net Revenues
|
|
2,018
|
|
4,196
|
BGH ruling on pricing agreements - impact of forgone revenues
|
|
94
|
|
94
|
of which: Private Bank Germany - BGH ruling on pricing agreements - impact of forgone revenues
|
|
93
|
|
93
|
Net revenues ex BGH ruling on pricing agreements
|
|
2,112
|
|
4,290
|
of which: Private Bank Germany net revenues ex BGH ruling on pricing agreements
|
|
1,292
|
|
2,638
|
Revenue specific items
|
|
(35)
|
|
(59)
|
Net revenues ex specific items ex BGH ruling on pricing agreements
|
|
2,077
|
|
4,231
|
|
|
|
|
|
Adjusted profit (loss) before tax
|
|
87
|
|
384
|
BGH ruling on pricing agreements - impact of forgone revenues
|
|
94
|
|
94
|
BGH ruling on pricing agreements - litigation charges
|
|
128
|
|
128
|
Adjusted profit (loss) before tax ex. BGH ruling on pricing agreements
|
|
309
|
|
606
|
Adjusted profit (loss) ex. BGH ruling on pricing agreements
|
|
222
|
|
436
|
Profit (loss) attributable to noncontrolling interests
|
|
–
|
|
–
|
Profit (loss) attributable to additional equity components
|
|
23
|
|
45
|
Adjusted Profit (loss) attributable to Deutsche Bank shareholders excluding BGH ruling on pricing agreements
|
|
199
|
|
391
|
Average allocated tangible shareholders' equity
|
|
11,378
|
|
11,300
|
Adjusted post-tax RoTE ex BGH ruling on pricing agreements (in %)
|
|
7.0 %
|
|
6.9 %
|
Reported post-tax RoTE (in %)
|
|
(1.1) %
|
|
2.6 %
|
|
|
|
|
|
|
Jun 30, 2021
|
|
Dec 31, 2020
|
|
Total assets
|
|
1,321
|
|
1,325
|
Deduct: Derivatives (incl. hedging derivatives & derivatives reclassified into held for sale) credit line netting
|
|
218
|
|
266
|
Deduct: Derivatives cash collateral received / paid
|
|
63
|
|
83
|
Deduct: Securities Financing Transactions credit line netting
|
|
1
|
|
1
|
Deduct: Pending settlements netting
|
|
46
|
|
12
|
Net assets (adjusted)
|
|
992
|
|
962
|
|
|
|
|
|
in € m.
|
|
Jun 30, 2021
|
|
Dec 31, 2020
|
Total shareholders’ equity (Book value)
|
|
56,748
|
|
54,774
|
Goodwill and other intangible assets1
|
|
(6,104)
|
|
(5,997)
|
Tangible shareholders’ equity (Tangible book value)
|
|
50,643
|
|
48,777
|
|
|
|
|
|
|
|
98
|
|
Deutsche Bank
|
Other financial information
|
|
Interim Report as of June 30, 2021
|
|
|
|
|
in million
|
|
Jun 30, 2021
|
|
Dec 31, 2020
|
Number of shares issued
|
|
2,066.8
|
|
2,066.8
|
Treasury shares
|
|
(3.0)
|
|
(1.3)
|
Vested share awards
|
|
33.5
|
|
38.6
|
Basic shares outstanding
|
|
2,097.3
|
|
2,104.1
|
|
|
|
|
|
Book value per basic share outstanding in €
|
|
27.06
|
|
26.03
|
Tangible book value per basic share outstanding in €
|
|
24.15
|
|
23.18
|
|
|
|
|
|
|
|
99
|
|
Deutsche Bank
|
Imprint
|
|
Interim Report as of June 30, 2021
|
|
|
|
|
|
|
100
|
Exhibit 99.2
|
CAPITALIZATION & INDEBTEDNESS |
|||||
|
|
|
||||
|
THE FOLLOWING TABLE SETS FORTH OUR UNAUDITED CONSOLIDATED CAPITALIZATION IN ACCORDANCE WITH IFRS AS ISSUED BY THE IASB |
|||||
|
|
|
||||
|
|
June 30, 2021 |
||||
|
|
(in € m.) |
||||
|
Debt (1), (2): |
|
||||
|
Long-term debt |
149,139 |
||||
|
Trust preferred securities |
1,044 |
||||
|
Long-term debt at fair value through profit or loss |
3,102 |
||||
|
Total debt |
153,284 |
||||
|
|
|
||||
|
Shareholders' equity: |
|
||||
|
Common shares (no par value) |
5,291 |
||||
|
Additional paid-in capital |
40,460 |
||||
|
Retained earnings |
12,004 |
||||
|
Common shares in treasury, at cost |
(28) |
||||
|
Equity classified as obligation to purchase common shares |
- |
||||
|
Accumulated other comprehensive income, net of tax |
|
||||
|
Unrealized net gains (losses) on financial assets at FVOCI, net of tax and other |
(44) |
||||
|
Unrealized net gains (losses) on derivatives hedging variability of cash flows, net of tax |
8 |
||||
|
Unrealized net gains (losses) on assets classified as held for sale, net of tax |
- |
||||
|
Unrealized net gains (losses) attributable to change in own credit risk of financial liabilities designated at FVTPL , net of tax |
(1) |
||||
|
Foreign currency translation, net of tax |
(935) |
||||
|
Unrealized net gains from equity method investments |
(7) |
||||
|
Total shareholders' equity |
56,748 |
||||
|
Equity component of financial instruments |
7,068 |
||||
|
Noncontrolling interest |
1,591 |
||||
|
Total equity |
65,406 |
||||
|
Total capitalization |
218,691 |
||||
|
|
|
1
1
€ 734 million (0.5)% of our debt was guaranteed by the German government as of June 30, 2021 related to legacy positions assumed in the context of the Postbank takeover.
2 € 63,439 million (41%) of our debt was secured as of June 30, 2021.
Due to rounding, numbers may not add up precisely to the totals provided.
2