Deutsche Bank Ag · XETR:DBK
Deutsche Bank — Deutsche Bank Aktiengesellschaft — Investor Day (September 2012)
46 slides from Deutsche Bank's investor day presentation, Sep 12, 2012
Slide 1: Deutsche Bank: Winning in a changed environment
Exhibit 99.3 Deutsche Jürgen Investor Fitschen Day, BankFrankfurt, Bank: and Winning Anshu11 inJain, September a changed Co-Chairmen environment 2012 of the Management Board and the Group Executive Committee
Slide 2: Agenda
1 Vision 65432Agenda Deutsche Investor Operating Strategy Capital Cultural SummaryRelations and Bank change 2015+: environment operational Jürgen Recalibrating Investor Fitschen, excellence Day, the Anshu Frankfurt, Bank Jain11 financial September transparency. 2012 1
Slide 3: We face macroeconomic challenges and megatrends
We face Macroeconomic Megatrends Unprecedented Low Changing Urbanization Technological Fractured Deutsche Investor financial growth; aRelations transparency. Bank relationship global challenging drive further and advancements pressure Jürgen challenges demographics financial significant Investor pot
Slide 4: Near-term macroeconomic challenges and longer-term opportunities
Near-term Macro-economic Lower GDP Ø 1.4 Unprecedented EM Central 2008 2007 ECB 150 Fed 250 350 BoE 450 Need Domestic 600 500 400 300 2000 Aging Retired 47 32 2011 Developed countries % Urbanization 100 0U 50 Impact Cost per 100,000 0.1 30yrs Source: Deutsche Investor financial S2012-15e 2004-11 of
Slide 5: Restrictive regulatory landscape and lack of trust
Reputational Lack Percentage given 66 79 53 56 62 Tech 47 com Further Basel Capital, Restrictions Volcker, Additional Bank Consumer Disclosures, Reduced — (1) Deutsche Investor financial 64 51 Compressed Changes Participants ma Auto of levies, industry, 3 restrictive trust leverage gy Relations ICB,
Slide 6: The banking industry shrinks
In10,000 Has banks 60% ~ 40% ~(50)% ~(20)ppt 1929 … Number EU 7,358 8,680 10,043 10,924 (33)%(34)% 2,050 3,420 (45)% 6,678 1997 (1) Source: Deutsche Investor financial 20,000 this and Denotes 15 shrunk 1933 2006 7,345 1,898 in environment, isJapanese of Relations the Japan(1) transparency. shrinking
Slide 7: Global winners emerge from the crisis
Global March … % Pre-financial 51 12 36 40 44 Investment banking(2) (1) (3) (4) Deutsche Investor financial of and Post-financial 13 Top Subject business 2008 winners capture integrated 5Relations transparency. within in Bank Management(3) Asset totransaction Today crisis conclusion accruing increas
Slide 8: Clients will define future winners
Clients Increasingly 24/7 … World-class Prudent Superior Diversified Culture Responsible Deutsche Investor financial define access will of risk Relations client transparency. Bank attributes responsibility solutions to define financial management product complex liquidity solutions Jürgen Investor f
Slide 9: Agenda
1 Vision 65432Agenda Deutsche Investor financial Operating Strategy Capital Cultural Summary Relations transparency. and Bank change 2015+: environment operational Jürgen Recalibrating Investor Fitschen, 8 excellence Day, the Anshu Frankfurt, Bank Jain11 September 2012
Slide 10: What is our starting point?
What Deep Unique Strong Strongly Prudent … Long-term Historical Core Significant Industry’s Deutsche Investor financial and Tier roots isfunding identified strengths brand, Deutsche risk Relations entrepreneurial, transparency. Bank 1lack challenges underperformance in potential ratio management Eur
Slide 11: Our vision
Ourcommit We Deutsche Investor financial aspire serve value vision Relations transparency. shareholders Bank our totobe German aJürgen the culture Investor leading roots best Fitschen, 10 thatDay, client-centric by and aligns putting remain Anshu Frankfurt, risksour Jain dedicated and global clients
Slide 12: Five key levers to deliver our vision
ToCulture 1Focused 2Businesses 3Strong 4Disciplined 5Culture Deutsche Investor financial Clients Competencies Capital Costs deliver capital consistent that Relations portfolio transparency. based adjusted Bank performance our built cost sustainably base vision, Jürgen on processes management onof ca
Slide 13: Agenda
1 Vision 65432Agenda Deutsche Investor financial Operating Strategy Capital Cultural Summary Relations transparency. and Bank change 2015+: environment operational Jürgen Recalibrating Investor Fitschen, 12 excellence Day, the Anshu Frankfurt, Bank Jain11 September 2012
Slide 14: 2015 financial aspirations
Of Normalization FY2011 Aspiration Fully loaded Core ratio Cost Income Ratio over — exchange Post-tax RoE (1) Deutsche Investor financial No the Pro-forma the market regulatory Tier —major many B3 78% 2015 period Relations 8% Normalization/stabilization Global transparency. Bank rate 1<6%(1) —share
Slide 15: Clearly defined business model
We will& Regional Private Business Clients Deutsche Infrastructure Investor financial Securities deliver Relations transparency. Banking Management Bank Corporate Jürgen ourManagement & Investor strategy Asset Wealth Fitschen, 14 &Day, through Transaction Global Banking Anshu Frankfurt, a clearly Ja
Slide 16: Deepen the geographic footprint
WeDeepen the 2015 EMEA Germany Americas recovery Corporate Asia — Note: Deutsche Investor financial Build Streamline Commit Position Capture Investment Americas plan Pacific Excluding exRelations to on transparency. — Bank growth Finance, focus grow market to franchise existing cap Increase and the
Slide 17: Streamlined client coverage
We will Our Indicative Retail 100% Wealthy How Governments Institutions Corporates SMEs German Examples Renewed UHNWI New, Emerging New Deutsche Investor financial clients investment we streamlined clients optimize Mid-Caps: Relations individuals will coverage: transparency. approach Bank markets sp
Slide 18: Dynamic portfolio management
WeAre Key — Operating meet add performance for criteria? Deutsche Exit Turnaround re-tool Maintain/ Invest Investor financial Meet Ensure DB clients? will value principles align will directly well-aligned allocate outlook? Relations our transparency. Bank contribute portfolio awell emphasize be to b
Slide 19: Portfolio: invest, maintain, turnaround, exit
Dynamic bank Invest Germany Maintain/ re-tool Turnaround and coverage — customer Exit China PBC Deutsche Investor financial APAC Client Origination/Advisory Commodities PBC Postbank institutional — CB&S countries Emerging unprofitable —Organic Europe India Relations transparency. footprint Advisory
Slide 20: Private & Business Clients
Private Building Challenging Undisputed Profitable Smooth Where to PBC (EUR IBIT 2.0 ~3.0 2011 CIR ~60% 68% How Focus Increased De-risk — (1)be Alignment Product Straight Front-end Improve Implement Continued operating we 2015 inbn) on financial Deutsche Investor we & /2015 execution All will aenhan
Slide 21: Corporate Banking & Securities
Corporate Retaining Low Competitive Regulatory Societal Where to CB&S Cost 71% ratio income RWA equi- (in valent(3) 16%(6) RoE Post-tax 2011 How Pro-forma Focus Scale Efficiency Cultural — (1) the will tax domestic Deutsche Investor financial be A Align Transfer More Re-evaluate Leverage Industriali
Slide 22: Corporate Banking & Securities: cost and efficiency
Corporate Increasing Achieve Priorities EUR Focus, Major Cost 2012 0.4 0.2 2013 — 2014Announced impact 1.9 /savings cost scale ImprovedEquities/Corporate leading Reduction 14: performance 0.5 3— 15: bn Infrastructure 0.8 Announced Dynamic Cumulative Total — (1) the Deutsche Investor financial Bankin
Slide 23: Asset & Wealth Management
Asset We Realize Drive Unlock Exploit Where to AWM IBIT, business(1) 2011 2015 ~0.7 ~0.3 ~(0.1) How Three Private 2012 Key Cumulative — Aspiration (1) Deutsche Investor financial be Retail Passive/3rd Focus Passive/alternative Leverage Eliminate Reorganize ~EUR Increase All aspire revenue cost we 0.
Slide 24: Global Transaction Banking
Global We Growth Robust Leading Strong Where to GTB IBIT, business(1) 2006 2009 2011 2015 0.2 0.1 0.5 0.6 How Grow Commercial — Benefit Aspiration (1) (2) Deutsche Investor financial be Targeted Global Roll-out Pre-export Strengthen Expand Selective Increase Optimize GTB Reported aspire we 1.0(2) in
Slide 25: Key levers to reach 2015 aspirations
Weline Key Revenue Costs 2015 PBC CB&S AWM GTB businesses(2) Operating In Group market (1) (3) Deutsche Investor financial RWAs Based will levers ~~ aspirations CIR ~<65% with ~ (4) savings rebalance Relations (4) transparency. B3 Bank on including toEUR RWA corporate 2015 >15%(3) >10% Jürgen growth
Slide 26: While recalibrating, we still help clients
While Complex Financial ainnovation Europe Retail — and markets government Deutsche Investor financial market Access Trade Trusted Wealth Helping Risk growth worldwide — recalibrating, solutions Asia US Relations leader transparency. facilitation Better client Bank to preservation advice in BMW Germ
Slide 27: Agenda
16543 2Agenda Operating environment DeutscheVision Investor financialStrategy Capital Cultural Summary 2015+: and change Relations transparency. Bank Jürgen 26Recalibrating operational Investor Fitschen, Day, Anshu the JainBank excellence Frankfurt, 11 September 2012
Slide 28: Core Tier 1 capital and Basel 3 plan
We Core Basel 10.2% (1) 7.2% ?8% 2012 B3 (notwill 1Tier Capital June Included Non-Core demand (3) Not Deutsche Investor3Jan reduction operating Identified Available Further measures supply capital RWA in financial Core realize >10% yet1Bonus Reduction 2013 capitalgoals Tier Portfolio Equity tool Div
Slide 29: Non-Core Operations: clear scope
WeAssets Clear Scope Rationale Accelerate risking CB&S regulatory management Increase focus operating underlying businesses real — Improve external transparency on positions Note: Deutsche Investor financial IAS non-core will estate criteria on Split ~100 — 39 establish AWM Relations — transparency.
Slide 30: Non-Core Operations: governance and de-risking
.financial Governance Businesses — Non-Core RWA 105 ~135 ~(45) 31 <80 ~90 with (1) 2011De-risking Centralized Separate Dedicated Basel110 equivalent(1),in dedicated 2012 2.5 Deutsche Investor DecOperations RWAsand reporting model 30 Basel 2012risk and Relationscoordination Non-Core 3Jun governance m
Slide 31: Strong risk management and P&L
We Strong P&L In 140 Risk 70 effect 0EUR -1.0 2008 VaR DB will eStoxx 1.2(2) 04. 0.6 0.8 (0.2) 0.0 0.2 — (1) (2) reduction vs. Peer Peer risk m /further 40 market warning Sales discipline 3M efficiency(1), 2009 Deutsche Investor financial Clear Strong average Continued Maintain Risk Average 2010 gro
Slide 32: Operational excellence: cost savings
Operational 2015 GTB Technology AWM Other & PBC Business CB&S 16% Total EUR Note: (1) assumed coordination (4) Deutsche Investor financial Corporate Cost Corporate of 1.1(2) yearly 0.2 2.8 4.5 EUR Numbers COO(3) 0.4 1.1 GTB businesses savings Relations constant transparency. Global bn bn(5) Total sa
Slide 33: Cost levers and investments
…higher Our In Postbank already structure Infra- ~4.0 Front office Yearly run-rate savings(1) Savings(3) (CTA)(2) renewal reference streamlining organization excellence vendors productivity automation — rationalization in DB 4.5 (1) investments unrelated Deutsche Investor financial EUR through Magel
Slide 34: In summary: 2015 aspirations
In summary: — Accelerated PBC FY Aspiration Fully B3 ratio Cost Ratio EUR operating GTB businesses(2) Post-tax (1) Group (4) Deutsche Investor financial IBIT: Pro-forma Based Core 2011 — savings Income ~1.7 — AWM loaded Post-tax Double Relations RoE Tier ~EUR 2015 transparency. Bank 12%(3) on bnde-r
Slide 35: Positioned to win in 2015+
Positioned Now 54321Clear Ready 2015+ Long-term Changed competitive landscape Demographic shifts — Emerging dynamics market Deutsche Markets Investor financial Achieve Strengthen Further Build Place A dominant –actions asset and 2015 Deutsche capital Relations transparency. —leverage Bank Emerging m
Slide 36: Agenda
16543 2Agenda Operating environment DeutscheVision Investor financialStrategy Capital Cultural Summary 2015+: and change Relations transparency. Bank Jürgen 35Recalibrating operational Investor Fitschen, Day, Anshu the JainBank excellence Frankfurt, 11 September 2012
Slide 37: Cultural change: attributes we will emphasize
WeAbility Performance culture Entre- preneurial spirit Cultural diversity — Deutsche Investor financial Meritocracy Execution Risk Speed Global Strongly acknowledge are— —— proud culture Relations market Innovation transparency. —and Bank Empowerment culture Crisis to leaders anchored Respect adapt
Slide 38: Realigning compensation practices
Ourdeferred management industry Realigning compensation balance practices of — We Linking values behavior people by Deutsche Investor financial Adopt Tighten Increase Co-Chairmen will commitments to — and be lead make our Relations on transparency. we compensation central industry-leading Bank Imple
Slide 39: Variable compensation as share of net revenues
We Variable Variable 2006 11% 15% 17% 19% 20% 22% Compensation Stricter Early (1) Deutsche Investor financial have 2007 adoption governance Relations comp(1) already transparency. Bank 2008 remuneration practices of Jürgen 2009 addressed as regulatory Investor %2010 Fitschen, 38 ofhave net awarded m
Slide 40: Independent panel on compensation
Leading Panel highly the US — transparency The Deutsche Investor financial Independent Industry Leading External financial and panel’s composition credible Asia the Relations transparency. Bank academic leaders compensation findings industry services Pacific andprofessionals Jürgen external disclosu
Slide 41: Agenda
16543 2Agenda Operating environment DeutscheVision Investor financialStrategy Capital Cultural Summary 2015+: and change Relations transparency. Bank Jürgen 40Recalibrating operational Investor Fitschen, Day, Anshu the JainBank excellence Frankfurt, 11 September 2012
Slide 42: Introducing the new Management Board and GEC
Introducing Jürgen Co-Chairman Management Stephan Stefan Chief Members Gunit Co-CEO Asia Christian TBD CEO Note: Deutsche Investor financial Pacific Europe COO North Financial Jürgen Chadha Krause Fitschen Leithner Relations transparency. Co-CEO Ricken Bank ofof America our Asia the Fitschen (ex Boa
Slide 43: Presenters and schedule
Presenters Schedule Morning Legal Afternoon — Deutsche Investor financial Werner Stefan Henry Stuart Stephan Colin Michele Rainer & Relations Compliance, Fan transparency. Lewis, Presenter Bank Ritchotte, Krause, Neske, for Steinmüller, Leithner, Faissola, /Wednesday, Robert Jürgen CRO PBC CFO Inves
Slide 44: Appendix
Deutsche Bank Appendix
Slide 45: Non-Core re-segmentation reconciliation
Reconciliation 2011 Non-Core Re-segmentation As RWA CB&S Pre-tax GTB AWM IBIT PBC Cost/income Group(3) Post-tax Note: (1) Tier (5) Deutsche Investor financial reported The Reassignment 1/Tier Cost/income (in SPLIT IBIT (in Numbers IBIT Memo: RoE post-tax Relations RoE(4) EUR EUR transparency. Bank P
Slide 46: Cautionary statement
Cautionary them. and By statement. substantial management 20-F This 2Q2012 Deutsche Investor financial their we presentation ofThese undertake 20 Financial very Relations transparency. Bank Such March portion statements statements policies, nature, Jürgen factors contains also no 2012 Data Investor
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