Deutsche Bank : Q2 Financial Data Supplement

Deutsche Bank

Financial Data Supplement Q2 2022

July 27, 2022

Q2 2022 Financial Data Supplement

Due to rounding, numbers presented throughout this document may not sum precisely to the totals we provide and percentages may not precisely reflect the absolute figures.

All segment figures reflect the segment composition as of the second quarter 2022.

EU carve-out

Results are prepared in accordance with International Financial Reporting Standards (IFRS) as issued by the International Accounting Standards Board ("IASB") and endorsed by the European Union ("EU"), including, from 2020, application of portfolio fair value hedge accounting for non-maturing deposits and fixed rate mortgages with pre-payment options (the "EU carve-out"). Fair value hedge accounting under the EU carve-out is employed to minimize the accounting exposure to both positive and negative moves in interest rates in each tenor bucket thereby reducing the volatility of reported revenue from Treasury activities.

For the three-month period ended June 30, 2022, application of the EU carve-out had a negative impact of € 1.0 billion on profit before taxes and of € 823 million on profit. For the same time period in 2021, the application of the EU carve-out had a negative impact of € 5 million on profit before taxes and of € 9 million on profit. The Group's regulatory capital and

ratios thereof are also reported on the basis of the EU carve-out version of IAS 39. For the six-month period ended June 30, 2022, application of the EU carve-out had a negative impact on the CET1 capital ratio of about 19 basis points and a negative impact of about 6 basis point for the same time period in 2021. In any given period, the net effect of the EU carve-out can be positive or negative, depending on the fair market value changes in the positions being hedged and the hedging instruments.

To reflect reporting obligations in Germany and the U.S., Deutsche Bank has prepared separate sets of interim financial information since the first quarter 2020 (i.e. locally: based on IFRS as endorsed by the EU; U.S.: based on IFRS as issued by the IASB).

This Financial Data Supplement is presented under IFRS as endorsed by the EU. Deutsche Bank is filing its Interim and Annual Reports under IFRS as adopted by the IASB with the U.S. SEC (https://www.db.com/ir/en/sec-filings-for-financial-results.htm).

Deutsche Bank consolidated
Summary	2
Consolidated Statement of Income	3
Consolidated Balance Sheet - Assets	4
Consolidated Balance Sheet - Liabilities and total equity	5
Net revenues - Segment view	6
Segment detail
Corporate Bank	7
Investment Bank	8
Private Bank	9
Asset Management	10
Corporate & Other	11
Core Bank	12
Capital Release Unit	13
Risk and capital
Asset Quality	14
Regulatory capital	15
Leverage ratio	16
Non-GAAP financial measures	17
Definition of certain financial measures and other information	26
Footnotes	30

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Deutsche Bank

Q2 2022 Financial Data Supplement

1

Summary

Group financial targets

Post-tax return on average tangible shareholders' equity

1,2,3

1

Cost/income ratio

1,6,19,20

Common Equity Tier 1 capital ratio

1,7,20,22

Leverage ratio

Key financial metrics

Statement of income

Total net revenues, in € bn.

Provision for credit losses, in € bn.

Noninterest expenses, in € bn.

Adjusted costs ex-transformation charges, in € bn.

4,5

Profit (loss) before tax, in € bn.

Profit (loss), in € bn.

Profit (loss) attributable to Deutsche Bank shareholders, in € bn.

Balance sheet

6

Total assets, in € bn.

1,6

Net assets (adjusted), in € bn.

Average interest earning assets, in € bn.

6

Loans (gross of allowance for loan losses), in € bn.

6

Average loans (gross of allowance for loan losses), in € bn.

6

6

Deposits, in € bn.

6

Allowance for loan losses, in € bn.

6

Shareholders' equity, in € bn.

Resources

6

Risk-weighted assets, in € bn.

of which Operational risk RWA, in € bn.

6

6,7

Leverage exposure, in € bn.

Tangible shareholders' equity (Tangible book value), in € bn.

High-quality liquid assets (HQLA), in € bn.

Liquidity reserves, in € bn.

Employees (full-time equivalent)

6

6

Branches

Ratios

Post-tax return on average shareholders' equity

1,3

Provision for credit losses (bps of average loans)

Loan-to-deposit ratio

Leverage ratio (reported/phase-in)

1,20

Liquidity coverage ratio

Per share information

Basic earnings per share

9

Diluted earnings per share

1,9

Book value per basic share outstanding

1

Tangible book value per basic share outstanding

1

FY 2020	Q1 2021	Q2 2021	Q3 2021	Q4 2021	FY 2021	Q1 2022	Q2 2022	Q2 2022 vs.	Q2 2022 vs.	H1 2021	H1 2022	H1 2022 vs.
Q2 2021	Q1 2022	H1 2021
0.2 %	7.4 %	5.5 %	1.5 %	1.1 %	3.8 %	8.1 %	7.9 %	2.4 ppt	(0.2)ppt	6.5 %	8.0 %	1.5 ppt
88.3 %	77.1 %	80.1 %	88.9 %	94.3 %	84.6 %	73.4 %	73.2 %	(6.9)ppt	(0.2)ppt	78.5 %	73.3 %	(5.2)ppt
13.6 %	13.7 %	13.2 %	13.0 %	13.2 %	13.2 %	12.8 %	13.0 %	(0.2)ppt	0.1 ppt	13.2 %	13.0 %	(0.2)ppt
4.7 %	4.6 %	4.7 %	4.7 %	4.9 %	4.9 %	4.6 %	4.3 %	(0.4)ppt	(0.3)ppt	4.7 %	4.3 %	(0.4)ppt
24.0	7.2	6.2	6.0	5.9	25.4	7.3	6.6	6.6 %	(9.3)%	13.5	14.0	3.8 %
1.8	0.1	0.1	0.1	0.3	0.5	0.3	0.2	N/M	(20.4)%	0.1	0.5	N/M
21.2	5.6	5.0	5.4	5.6	21.5	5.4	4.9	(2.6)%	(9.4)%	10.6	10.2	(3.1)%
19.9	5.3	4.6	4.7	5.0	19.6	5.3	4.7	2.2 %	(11.6)%	9.9	10.1	1.2 %
1.0	1.6	1.2	0.6	0.1	3.4	1.7	1.5	32.8 %	(6.7)%	2.8	3.2	16.4 %
0.6	1.0	0.8	0.3	0.3	2.5	1.2	1.2	46.3 %	(1.3)%	1.9	2.4	30.7 %
0.1	0.9	0.7	0.2	0.1	1.9	1.1	1.0	51.1 %	(1.3)%	1.6	2.1	31.6 %
1,325	1,317	1,320	1,326	1,324	1,324	1,343	1,387	5 %	3 %	1,320	1,387	5 %
963	987	992	1,002	1,002	1,002	1,016	1,038	5 %	2 %	992	1,038	5 %
903	913	924	946	962	938	967	970	5 %	0 %	919	972	6 %
432	440	445	456	476	476	481	493	11 %	3 %	445	493	11 %
438	433	439	449	464	446	478	486	11 %	2 %	436	482	11 %
568	578	581	586	604	604	604	613	5 %	1 %	581	613	5 %
4.8	4.8	4.8	4.8	4.8	4.8	4.9	4.8	1 %	(2)%	4.8	4.8	1 %
55	56	57	57	58	58	59	60	6 %	2 %	57	60	6 %
329	330	345	351	352	352	364	370	7 %	2 %	345	370	7 %
69	66	67	65	62	62	60	59	(11)%	(2)%	67	59	(11)%
1,078	1,105	1,111	1,119	1,125	1,125	1,164	1,280	15 %	10 %	1,111	1,280	15 %
49	50	50	51	52	52	53	53	6 %	2 %	50	53	6 %
213	220	224	217	207	207	214	207	(8)%	(3)%	224	207	(8)%
243	243	254	249	241	241	246	244	(4)%	(1)%	254	244	(4)%
84,659	84,389	83,797	84,512	82,969	82,969	83,000	82,915	(1)%	(0)%	83,797	82,915	(1)%
1,891	1,863	1,845	1,805	1,709	1,709	1,669	1,598	(13)%	(4)%	1,845	1,598	(13)%
0.2 %	6.6 %	4.9 %	1.4 %	1.0 %	3.4 %	7.2 %	7.1 %	2.1 ppt	(0.2)ppt	5.8 %	7.2 %	1.4 ppt
41	6	7	10	22	12	24	19	12 bps	(5)bps	7	22	15 bps
76.0 %	76.2 %	76.6 %	77.9 %	78.9 %	78.9 %	79.7 %	80.5 %	4.0 ppt	0.9 ppt	76.6 %	80.5 %	4.0 ppt
4.8 %	4.7 %	4.8 %	4.8 %	4.9 %	4.9 %	4.6 %	4.3 %	(0.5)ppt	(0.3)ppt	4.8 %	4.3 %	(0.5)ppt
145%	146%	143%	137%	133%	133%	135%	133%	(10)ppt	(2)ppt	143%	133%	(10)ppt
€ 0.07	€ 0.48	€ 0.21	€ 0.15	€ 0.13	€ 0.96	€ 0.57	€ 0.34	63 %	(41)%	€ 0.68	€ 0.90	32 %
€ 0.07	€ 0.47	€ 0.20	€ 0.14	€ 0.12	€ 0.93	€ 0.55	€ 0.33	64 %	(40)%	€ 0.67	€ 0.89	32 %
€ 26.04	€ 26.77	€ 26.97	€ 27.32	€ 27.62	€ 27.62	€ 28.09	€ 28.74	7 %	2 %	€ 26.97	€ 28.74	7 %
€ 23.19	€ 23.86	€ 24.06	€ 24.46	€ 24.73	€ 24.73	€ 25.15	€ 25.68	7 %	2 %	€ 24.06	€ 25.68	7 %

For footnotes please refer to page 30.

Deutsche Bank

Q2 2022 Financial Data Supplement

2

Consolidated statement of income

	FY 2020	Q1 2021	Q2 2021	Q3 2021	Q4 2021	FY 2021	Q1 2022	Q2 2022	Q2 2022 vs.	Q2 2022 vs.	H1 2021	H1 2022	H1 2022 vs.
(In € m.)	Q2 2021	Q1 2022	H1 2021
Interest and similar income	17,806	4,234	3,950	4,147	4,268	16,599	4,425	5,245	33 %	19 %	8,184	9,670	18 %
Interest expense	6,280	1,433	1,292	1,374	1,345	5,444	1,548	1,874	45 %	21 %	2,725	3,422	26 %
Net interest income	11,526	2,801	2,658	2,772	2,923	11,155	2,877	3,372	27 %	17 %	5,459	6,248	14 %
Provision for credit losses	1,792	69	75	117	254	515	292	233	N/M	(20)%	144	525	N/M
Net interest income after provision for credit losses	9,734	2,732	2,584	2,655	2,669	10,640	2,585	3,139	21 %	21 %	5,315	5,724	8 %
Commissions and fee income	9,424	2,739	2,574	2,634	2,987	10,934	2,756	2,501	(3)%	(9)%	5,313	5,257	(1)%
Net gains (losses) on financial assets/liabilities at fair value through P&L	2,465	1,324	995	670	55	3,045	1,464	605	(39)%	(59)%	2,320	2,070	(11)%
Net gains (losses) on financial assets at fair value through OCI	323	107	22	59	48	237	5	(39)	N/M	N/M	130	(34)	N/M
Net gains (losses) on financial assets at amortized cost	311	(1)	6	0	(4)	1	(1)	(4)	N/M	N/M	4	(4)	N/M
Net income (loss) from equity method investments	120	25	40	(8)	42	98	29	67	68 %	132 %	64	95	48 %
Other income (loss)	(141)	237	(57)	(87)	(151)	(58)	198	148	N/M	(25)%	180	345	92 %
Total noninterest income	12,503	4,432	3,580	3,267	2,976	14,255	4,451	3,278	(8)%	(26)%	8,011	7,729	(4)%
Memo: Net revenues	24,028	7,233	6,238	6,040	5,900	25,410	7,328	6,650	7 %	(9)%	13,471	13,977	4 %
Compensation and benefits	10,471	2,631	2,551	2,520	2,715	10,418	2,657	2,690	5 %	1 %	5,183	5,346	3 %
General and administrative expenses	10,259	2,926	2,361	2,840	2,693	10,821	2,764	2,217	(6)%	(20)%	5,287	4,981	(6)%
Impairment of goodwill and other intangible assets	0	0	0	3	2	5	0	0	N/M	N/M	0	0	N/M
Restructuring activities	485	17	86	5	154	261	(43)	(36)	N/M	(16)%	102	(80)	N/M
Noninterest expenses	21,216	5,574	4,998	5,369	5,564	21,505	5,377	4,870	(3)%	(9)%	10,572	10,247	(3)%
Profit (loss) before tax	1,021	1,589	1,165	554	82	3,390	1,658	1,547	33 %	(7)%	2,754	3,205	16 %
Income tax expense (benefit)	397	552	338	225	(234)	880	431	336	(0)%	(22)%	889	767	(14)%
Profit (loss)	624	1,037	828	329	315	2,510	1,227	1,211	46 %	(1)%	1,865	2,438	31 %
Profit (loss) attributable to noncontrolling interests	129	36	33	23	52	144	40	33	0 %	(16)%	69	73	6 %
Profit (loss) attributable to Deutsche Bank shareholders and	495	1,002	795	306	263	2,365	1,187	1,179	48 %	(1)%	1,796	2,365	32 %
additional equity components
Ratios1
Net interest margin	1.3 %	1.2 %	1.2 %	1.2 %	1.2 %	1.2 %	1.2 %	1.4 %	0.2 ppt	0.2 ppt	1.2 %	1.3 %	0.1 ppt
Average yield on loans	2.6 %	2.4 %	2.4 %	2.4 %	2.3 %	2.3 %	2.3 %	2.5 %	0.1 ppt	0.2 ppt	2.4 %	2.4 %	(0.0)ppt
Cost/income ratio	88.3 %	77.1 %	80.1 %	88.9 %	94.3 %	84.6 %	73.4 %	73.2 %	(6.9)ppt	(0.2)ppt	78.5 %	73.3 %	(5.2)ppt
Compensation ratio	43.6 %	36.4 %	40.9 %	41.7 %	46.0 %	41.0 %	36.3 %	40.4 %	(0.5)ppt	4.2 ppt	38.5 %	38.3 %	(0.2)ppt
Noncompensation ratio	44.7 %	40.7 %	39.2 %	47.2 %	48.3 %	43.6 %	37.1 %	32.8 %	(6.4)ppt	(4.3)ppt	40.0 %	35.1 %	(4.9)ppt
Costs
Noninterest expenses	21,216	5,574	4,998	5,369	5,564	21,505	5,377	4,870	(3)%	(9)%	10,572	10,247	(3)%
Impairment of goodwill and other intangible assets	0	0	0	3	2	5	0	0	N/M	N/M	0	0	N/M
Litigation charges, net	158	78	148	85	155	466	26	116	(22)%	N/M	226	142	(37)%
Restructuring and severance	688	58	123	38	251	470	(33)	(13)	N/M	(61)%	181	(46)	N/M
Adjusted costs	20,370	5,439	4,727	5,243	5,155	20,564	5,385	4,767	1 %	(11)%	10,165	10,151	(0)%
Transformation charges1	490	116	99	583	204	1,003	38	39	(60)%	3 %	215	78	(64)%
Adjusted costs ex-transformation charges5	19,880	5,322	4,628	4,660	4,951	19,561	5,346	4,727	2 %	(12)%	9,950	10,074	1 %

For footnotes please refer to page 30.

Deutsche Bank

Q2 2022 Financial Data Supplement

3

Consolidated balance sheet - Assets

	Dec 31, 2020	Mar 31, 2021	Jun 30, 2021	Sep 30, 2021	Dec 31, 2021	Mar 31, 2022	Jun 30, 2022	Jun 30, 2022 vs.
(In € m.)	Dec 31, 2021
Assets
Cash and central bank balances	166,208	179,981	198,268	196,892	192,021	167,408	177,070	(8)%
Interbank balances without central banks	9,130	11,797	8,359	7,570	7,342	10,298	7,902	8 %
Central bank funds sold and securities purchased under resale agreements	8,533	8,650	8,519	8,752	8,368	8,795	9,121	9 %
Securities borrowed	0	37	33	223	63	232	164	160 %
Trading assets	107,929	109,830	112,120	121,016	102,396	112,493	103,953	2 %
Positive market values from derivative financial instruments	343,455	290,488	273,877	277,147	299,732	292,011	322,978	8 %
Non-trading financial assets mandatory at fair value through P&L	76,121	84,090	83,412	81,179	88,965	83,023	88,723	(0)%
Financial assets designated at fair value through profit or loss	437	158	90	134	140	140	96	(31)%
Total financial assets at fair value through profit or loss	527,941	484,566	469,498	479,476	491,233	487,667	515,750	5 %
Financial assets at fair value through OCI	55,834	41,671	37,186	32,564	28,979	31,475	31,515	9 %
Equity method investments	901	1,062	1,110	1,081	1,091	1,069	1,185	9 %
Loans at amortized cost	426,995	435,362	440,308	451,433	471,319	476,132	488,430	4 %
Property and equipment	5,549	5,457	5,378	5,317	5,536	5,563	5,595	1 %
Goodwill and other intangible assets	6,725	6,852	6,846	6,725	6,824	6,902	7,155	5 %
Other assets	110,399	134,800	137,954	129,088	103,785	139,883	135,110	30 %
Assets for current tax	986	958	1,036	1,057	1,214	1,237	1,326	9 %
Deferred tax assets	6,058	5,934	5,890	5,880	6,218	6,405	6,338	2 %
Total assets	1,325,259	1,317,126	1,320,384	1,326,058	1,323,993	1,343,066	1,386,660	5 %

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Deutsche Bank

Q2 2022 Financial Data Supplement

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