Deutsche Bank Ag · XETR:DBK
Deutsche Bank — Investor Day (November 2025)
25 slides from Deutsche Bank's investor day presentation, Nov 17, 2025
Slide 1: Scaling the Global Hausbank
Deutsche Bank Investor Relations Scaling the Global Hausbank Investor Deep Dive 2025 November 17, 2025
Slide 2: Unique Global Hausbank positioning
Unique Global Value through Elevated Hausbank focus returns positioning Deutsche Bank Investor Deep Dive 2025 Scaling the Global Hausbank, Christian Sewing 2
Slide 3: Becoming the European Champion
Becoming the European Champion FUTURE Long-term PRESENT The European Mid-term Champion PAST Accelerating value creation Restored profitability and strengthened foundations 2018 - 2022 2023 - 2025 2026 - 2028 2028+ From defense… … to offense Note: for footnotes and glossary on abbreviations refer to
Slide 4: Adapting to a world in transition
Adapting to a world in transition Redefined globalization Europe as a capital destination Increasing regionalization reshaping trade flows and Stability, structural reforms and fiscal measures supply chains enhancing Europe’s investment appeal Demographic change Technology and AI adoption Wealth and
Slide 5: Power of Global Hausbank aligned to evolving needs
Power of Global Hausbank aligned to evolving needs Evolving client needs matched by Global Hausbank offering Asset protection and Asset and Investment Redefined globalization growth Management Europe as a capital destination Secure and efficient capital Payments and Servicing mobility Demographic ch
Slide 6: Four leading businesses set to benefit from opportunities
Four leading businesses set to benefit from opportunities Scaling the Global Hausbank Dedicated to our clients’ lasting success and financial security Client-centric culture of accountability and collaboration at home and abroad Private clients Corporates Institutions Private #1 Private Bank in Germ
Slide 7: Accelerating value creation with three levers
Accelerating value creation with three levers Applying SVA methodology to steer strategic and financial decisions Long-term vision anchored in client-centric purpose and strong culture Strict capital discipline Enforce strict return hurdles, strengthen active balance sheet management and eliminate F
Slide 8: Driving growth in most value-accretive areas
Focused growth Driving growth in most value-accretive areas Objectives Focused growth and value Sustained growth and market accretion share capture Capitalize on leading position Scale focused growth areas1 in home market ▪ Asset Gathering (in PB and AM) ▪ Payments and Servicing (in CB) Integrate Gl
Slide 9: Management actions to grow focus areas
Focused growth Management actions to grow focus areas Management actions Select 2028 performance indicators Deepen share of client wallet € 1tn Total PB client assets by connecting client needs across divisions Attract new clients >€ 160bn Cumulative long-term net flows AM1 by leveraging Global Haus
Slide 10: Leader in Germany set for further growth
Focused growth Leader in Germany set for further growth Leader in home market Set to grow market share from own strengths in all divisions Strong and scaled platform ▪ Trusted partner with deep roots in German economy and society Private Asset Bank Management ▪ Natural gateway to and from Germany an
Slide 11: Capturing macro tailwinds at home
Focused growth Capturing macro tailwinds at home Macroeconomic tailwinds Ready to seize opportunities ▪ Accelerated asset gathering via deposit campaigns Broad economic momentum Private ▪ Conversion to discretionary and pension investment +1ppt GDP growth 2026 vs. 20251 Bank solutions Impulse from f
Slide 12: Clear path to greater capital productivity
Strict capital discipline Clear path to greater capital productivity Objectives Capital productivity levers Enhanced capital returns Improve capital deployment Business-led decisions based on SVA ▪ Strict pricing and return hurdles ▪ Re-allocation of capital away from below-hurdle sub-portfolios +10
Slide 13: Driving capital productivity across divisions
Strict capital discipline Driving capital productivity across divisions Private ▪ Optimize mortgages and consumer finance Bank ▪ Focus on capital-light lending in Wealth Management Asset ▪ Deploy seed capital to drive organic growth in Alternatives Management ▪ Selectively pursue inorganic opportuni
Slide 14: Investments unlocking further efficiencies
Scalable operating model Investments unlocking further efficiencies Objectives Optimization levers Scale and operating leverage ▪ Shift investments towards growth Integrated and automated and efficiency ▪ Drive targeted programs to deliver <60% Lean and adaptable ~€ 2bn1 gross efficiencies ▪ Simplif
Slide 15: Scaling platforms to generate operating leverage
Scalable operating model Scaling platforms to generate operating leverage Private Bank Asset Management Corporate Bank Investment Bank Clients Enhanced client experience with comprehensive digital journeys and self-service capabilities Simplified organization with clear accountabilities, driving fas
Slide 16: Significant potential from deploying AI at scale
Scalable operating model Significant potential from deploying AI at scale Next wave – becoming a truly AI-powered bank First wave Clients Enhance client experience Deliver hyper-personalization & agentic integration People Benefit from productivity tools Capture generational workforce opportunity Le
Slide 17: Accelerated value creation through disciplined execution
Accelerated value creation through disciplined execution Priorities by businesses Portfolio value accretion Focused Strict capital Scalable growth discipline operating model Private Drive operating efficiencies in retail, scale Wealth Management Bank and optimize capital usage >70% Asset Position as
Slide 18: >13% RoTE as key milestone with further upside
>13% RoTE as key milestone with further upside Firmly committed to our targets Significant further upside ▪ Global Hausbank more relevant ▪ Upside from Germany’s than ever transformation and stimulus ▪ Clear strategic levers in our control >13% ▪ Significant further value from AI RoTE in2028 ▪ Ready
Slide 19: The European Champion
Our long-term vision European leadership across key segments Market-leading returns Deep and scaled global presence and network The European Champion AI-powered and innovation-focused bank Deutsche Bank Investor Deep Dive 2025 Scaling the Global Hausbank, Christian Sewing 19
Slide 20: Deutsche Bank Investor Deep Dive 2025 Scaling the Global Hausbank, Christian Sewing
Deutsche Bank Investor Deep Dive 2025 Scaling the Global Hausbank, Christian Sewing 20
Slide 21: Appendix
Appendix Deutsche Bank Investor Deep Dive 2025 Scaling the Global Hausbank, Christian Sewing 21
Slide 22: Footnotes
Footnotes Note: Throughout this presentation, figures are rounded and totals may not sum due to Slide 11 – Capturing macro tailwinds at home rounding differences and percentages may not precisely reflect the absolute figures; 1. See slide ‘Key macro assumptions underpinning planning’ in ‘Acceleratin
Slide 23: Glossary
Glossary AI Artificial Intelligence AM Asset Management Bps Basis points CAGR Compound annual growth rate Capex Capital expenditure CB Corporate Bank DB Deutsche Bank ETF Exchange Traded Funds FIC Fixed Income & Currencies FX Foreign Exchange GDP Gross domestic product Opex Operational expenditure
Slide 24: Speaker biography – Christian Sewing
Speaker biography – Christian Sewing Christian Sewing, born in 1970, has been a member of the Management Board of Deutsche Bank since January 1, 2015. He has been Chief Executive Officer since April 2018. He joined the bank in 1989. He has been on the Management Board since January 2015, initially r
Slide 25: Cautionary statements
Cautionary statements Forward-Looking Statements This presentation contains forward-looking statements. Forward-looking statements are statements that are not historical facts; they include statements about our beliefs and expectations and the assumptions underlying them. These statements are based