Deutsche Bank Ag · XETR:DBK
Deutsche Bank — Annual Media Conference 2022
33 slides from Deutsche Bank's conference presentation, Jan 27, 2022
Slide 1: Annual Media Conference 2022
Deutsche Bank Annual Media Conference 2022 #PositiveImpact Christian Sewing, Chief Executive Officer Frankfurt, 27 January 2022 Deutsche Bank
Slide 2: Our transformation strategy is on track
Our transformation strategy is on track ✓ 2019-2020 2021-2022 2023-2025 Stable Sustainable & focused Profitability Growth Deutsche Bank Annual Media Conference 27 January 2022 1
Slide 3: Promises kept in a tough environment
Promises kept in a tough environment ✓ Exited businesses ✓ Focused on four divisions ✓ Cut costs rigorously ✓ Invested in technology & controls ✓ Strengthened capital discipline Deutsche Bank Annual Media Conference 27 January 2022 2
Slide 4: 2021: Very successful year despite transformation
2021: Very successful year despite transformation Proposed capital Net revenues Profit before tax distributions € 25.4bn € 3.4bn € ~700m (+6% YoY) (+232% YoY) Deutsche Bank Annual Media Conference 27 January 2022 3
Slide 5: Revenue growth higher than expected
Revenue growth higher than expected Revenues ex. specific items (€ bn) Group 23.2 24.0 25.3 +11% 25.3 24.2 22.8 Core Bank 2019 2020 2021 Note: Throughout this presentation totals may not sum due to rounding differences and percentages may not precisely reflect the absolute figures. Revenues excludin
Slide 6: Costs cut consistently
Costs cut consistently Adjusted costs ex. transformation charges & Prime Finance(1) (€ bn) Cost/income 108% 88% 85% ratio (10)% 21.5 19.5 19.3 2019 2020 2021 Note: Adjusted costs are calculated by deducting (i) impairment of goodwill and other intangible assets, (ii) net litigation charges and (iii)
Slide 7: High profit growth in the Core Bank
High profit growth in the Core Bank Adjusted profit (loss) before tax (€ bn) +122% Core Bank 6.1 4.2 2.7 Capital (1.3) Release (2.4) (2.0) Unit 2019(1) 2020 2021(2) Note: Adjusted profit (loss) before tax is calculated by adjusting the profit (loss) before tax under IFRS for specific revenue items,
Slide 8: Balance sheet strong throughout transformation
Balance sheet strong throughout transformation Common Equity Tier 1 (CET1) capital ratio 13.6% 13.6% 13.2% 2019 2020 2021 Deutsche Bank Annual Media Conference 27 January 2022 7
Slide 9: Disciplined risk management
Disciplined risk management Provision for credit losses (€ bn) Basis points(1) 17 41 12 1.8 0.7 0.5 2019 2020 2021 (1) Basis points of average loans Deutsche Bank Annual Media Conference 27 January 2022 8
Slide 10: Corporate Bank grows business volume
Corporate Bank grows business volume Corporate Bank Profit before tax Cost/income ratio (2021 vs. 2020) (2021 vs. 2020) +86% (2)ppt Execution of growth initiatives with continuous growth in loans and deposits in the second half of the year € ~100bn of deposits under repricing agreements with rev
Slide 11: Investment Bank steadily gains market share
Investment Bank steadily gains market share Investment Bank Profit before tax Cost/income ratio (2021 vs. 2020) (2021 vs. 2020) +17% +2ppt 8th consecutive quarter of Origination & Advisory YoY revenue growth; market share gains in Fixed Income & Currencies(1) #1 bank in EMEA investment grade deb
Slide 12: Private Bank increases fee income
Private Bank increases fee income Private Bank Profit before tax(1) Cost/income ratio (2021 vs. 2020) (2021 vs. 2020) +39% (2)ppt 2021 target of € 45bn in net new business across assets under management and client loans exceeded by 50% Grew fee income by 7% (2020) resp. 5% (2021) (1) For Private
Slide 13: Asset Management delivers record results
Asset Management delivers record results Asset Management Profit before tax Cost/income ratio (2021 vs. 2020) (2021 vs. 2020) +50% (7)ppt € 48bn of net inflows driven by continued investment in growth initiatives Strong growth driven by higher management, performance and transaction fees Deutsch
Slide 14: Sustainability moves to the heart of our bank
Sustainability moves to the heart of our bank Sustainable Finance volumes reported vs. target (€ bn), cumulative since 2020(1)(2) 46 157 ≥200 Achieved Target >200 Remaining 2020 2021 2023 New volume for sustainable financing and investments more than doubled compared to previous year ESG rating upgr
Slide 15: Reinforcing the uptrend
Reinforcing the uptrend Stronger employee engagement Share price & Increased market cap. increase client trust Strategic focus and disciplined execution Lower Improved funding costs brand perception Rating upgrades Deutsche Bank Annual Media Conference 27 January 2022 14
Slide 16: Growing engagement and trust
Growing engagement and trust Employee commitment based on internal survey(1) 57% 57% 58% 69% 71% 2017 2018 2019 2020 2021 Client trust in Germany (%)(2) 89 Corporate clients Retail clients 75 69 72 66 66 71 59 54 64 65 60 56 53 2015 2016 2017 2018 2019 2020 2021 (1) Deutsche Bank „People Surve
Slide 17: Improved brand perception
Improved brand perception Deutsche Bank B2B brand score vs. 11 global peers (rank)(1) 1 1 1 1 2 2 4 Europe 5 Global 7 7 9 9 10 10 2015 2016 2017 2018 2019 2020 2021 (1) Group Brand Market Research (GBMR) Deutsche Bank B2B Brand Status 2021, October 2021 Deutsche Bank Annual Media Conference 27 Janua
Slide 18: Upgrades from leading credit rating agencies
Upgrades from leading credit rating agencies Prior Since 2021 Outlook Moody’s A3 A2 Positive Long-term Issuer Rating Fitch BBB+ A- Positive Derivative Counterparty Rating Standard & Poor’s BBB+ A- Stable Long-term Issuer Credit Rating Deutsche Bank Annual Media Conference 27 January 2022 17
Slide 19: Investors recognise our progress
Investors recognise our progress Credit spreads for Deutsche Bank bonds (bps)(1) 225 175 110 11/19 11/20 11/21 Share price development (%)(2) 160 US banks EU banks 120 80 40 07/19 01/20 07/20 01/21 07/21 01/22 (1) Bloomberg, Levels refer to spreads at issue date vs. US Treasuries for bonds with
Slide 20: A solid platform for 2022
A solid platform for 2022 Stable foundation driven by transformation Positive dynamic in all divisions Investments in growth Robust capital and risk position Deutsche Bank Annual Media Conference 27 January 2022 19
Slide 21: Annual Media Conference 2022
Deutsche Bank Annual Media Conference 2022 #PositiverBeitrag James von Moltke, Chief Financial Officer Frankfurt, 27 January 2022 Deutsche Bank
Slide 22: Net profit rises more than fourfold in 2021
Net profit rises more than fourfold in 2021 Profit before tax (€ bn) Net profit (€ bn) 3.4 2.5 1.0 0.6 2020 2021 2020 2021 Deutsche Bank Annual Media Conference 27 January 2022 21
Slide 23: Cost discipline maintained
Cost discipline maintained Noninterest expenses (€ bn) Cost/income ratio 108% 88% 85% (14)% 25.1 2.3 21.2 21.5 1.2 0.8 0.9 0.8 1.3 21.5 19.5 19.3 2019 2020 2021 Nonoperating costs(1) Transformation charges and Prime Finance(2) Adjusted costs ex transformation charges and Prime Finance(2) (1) Nonoper
Slide 24: Transformation: 97% of transformation-related effects recognised
97% of transformation-related effects recognised 2019 – 2019 – 2019 – 2022 4Q 2021 4Q 2021 expected cumulative % impact (€ bn) impact (€ bn) of total Goodwill impairment(3) 1.0 1.0 100% operating costs(1) Non- Pre-tax positions Restructuring & severance(4) 2.0 1.9 93% Real estate charges 0.6 0.6 100
Slide 25: Capital strength sustained
Capital strength sustained Common Equity Tier 1 (CET1) capital ratio(1) 13.6% 13.2% 90 50 4Q 2020 Regulatory impact Organic RWA and 4Q 2021 (basis points) capital development (basis points) (1) Movements in basis points period end Deutsche Bank Annual Media Conference 27 January 2022 24
Slide 26: Sound liquidity and funding
Sound liquidity and funding € 207 billion € 52 billion High Quality Liquid Assets Surplus € 602 billion € 101 billion Available stable funding Surplus Deutsche Bank Annual Media Conference 27 January 2022 25
Slide 27: Corporate Bank: profit almost doubled
Corporate Bank: profit almost doubled Profit before tax (€ m) Revenues (€ bn) Post-tax 3.4% 6.7% RoTE(1) +86% +0.1% 1,000 5.1 5.2 539 2020 2021 2020 2021 (1) Throughout this presentation RoTE is defined as post-tax return on average tangible equity Deutsche Bank Annual Media Conference 27 January 20
Slide 28: Investment Bank further grows profit and revenues as markets normalise
Investment Bank further grows profit and revenues as markets normalise Profit before tax (€ bn) Revenues (€ bn) Post-tax 9.7% 10.7% RoTE +17% +4% 3.7 9.3 9.6 3.2 2020 2021 2020 2021 Deutsche Bank Annual Media Conference 27 January 2022 27
Slide 29: Private Bank with strong new business growth and profitable despite headwinds
Private Bank with strong new business growth and profitable despite headwinds Profit before tax (€ m) Revenues (€ bn) Post-tax (1.5)% 1.5% 5.5%(1) RoTE BGH ruling +1% 8.1 8.2 1,005 284 366 721 2020 2021 (99) 2020 2021 2021 (reported) (reported) (adjusted) (1) Post-tax return on average tangible equi
Slide 30: Asset Management boosts return on equity and grows volumes and revenues
Asset Management boosts return on equity and grows volumes and revenues Profit before tax (€ m) Revenues (€ bn) Post-tax 21.4% 29.7% RoTE +50% +21% 816 2.7 2.2 544 2020 2021 2020 2021 Deutsche Bank Annual Media Conference 27 January 2022 29
Slide 31: Capital Release Unit: de-risking ahead of plan and losses reduced
Capital Release Unit: de-risking ahead of plan and losses reduced (€ bn) Leverage exposure(1) Risk weighted assets(1) Loss before tax (84%) (57%) 249 65 34 28 (1.4) 72 (2.2) 39 30 Jun 2020 2021 30 Jun 2020 2021 (3.2) 2019 2019 2019 2020 2021 (1) Period end / 31 December / 30 June Deutsche Bank Annua
Slide 32: On track to reach our 2022 targets
On track to reach our 2022 targets Group Core Bank Cost/ Common Equity Leverage Return on Return on income Tier 1 ratio(1) Tangible Equity Tangible Equity ratio capital ratio (RoTE) (RoTE) (CIR) (CET1) (LR) 8% >9% 70% >12.5% ~4.5% € 5 billion for distributions from 2022 (1) Fully loaded Deutsche Ban
Slide 33: Cautionary statements
Cautionary statements The figures in this presentation are preliminary and unaudited. Our Annual Report 2021 and SEC Form 20-F are scheduled to be published on 11 March 2022. This presentation contains forward-looking statements. Forward-looking statements are statements that are not historical fact