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INDEX

Consolidated Statement of Income


Earnings per Share
Consolidated Statement of Comprehensive Income
Consolidated Balance Sheet
Consolidated Statement of Changes in Equity
Consolidated Statement of Cash Flows

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Deutsche Bank Annual Report 2014


Consolidated Statement of Income
in m.

Interest and similar income


Interest expense
Net interest income
Provision for credit losses
Net interest income after provision for credit losses
Commissions and fee income
Net gains (losses) on financial assets/liabilities at fair value through
profit or loss
Net gains (losses) on financial assets available for sale
Net income (loss) from equity method investments
Other income (loss)
Total noninterest income
Compensation and benefits
General and administrative expenses
Policyholder benefits and claims
Impairment of intangible assets
Restructuring activities
Total noninterest expenses
Income before income taxes
Income tax expense
Net income
Net income attributable to noncontrolling interests
Net income attributable to Deutsche Bank shareholders

Notes

2014

5
5
5
20

25,001
10,729
14,272
1,134
13,138
12,409

6
5
7
17
8
35
9
25
10

36

4,299
242
619
108
17,677
12,512
14,654
289
111
133
27,699
3,116
1,425
1,691
28
1,663

2013

2012

25,601
10,768
14,834
2,065
12,769
12,308

31,593
15,619
15,975
1,721
14,254
11,809

3,817
394
369
193
17,082
12,329
15,126
460
79
399
28,394
1,456
775
681
15
666

5,608
301
163
(120)
17,761
13,490
15,017
414
1,886
394
31,201
814
498
316
53
263

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Deutsche Bank Annual Report 2014


Earnings per Share
in

Notes

Earnings per share:


Basic
Diluted2
Number of shares in million:1
Denominator for basic earnings per share weighted-average shares
outstanding
Denominator for diluted earnings per share adjusted weighted-average
shares after assumed conversions
1

2014

11
1.34
1.31

1,241.9
1,269.5

1 The number of average basic and diluted shares outstanding has been adjusted for all periods in order to reflect the effect of the bonus component of subs
in June 2014 in connection with the capital increase.
2 Includes numerator effect of assumed conversions. For further detail please see Note 11 Earnings per Share.

2013

2012

0.64
0.62

0.27
0.26

1,045.4

979.0

1,073.2

1,004.7

t of the bonus component of subscription rights issued

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Deutsche Bank Annual Report 2014


Consolidated Statement of Comprehensive Income
in m.

Net income recognized in the income statement


Other comprehensive income
Items that will not be reclassified to profit or loss
Remeasurement gains (losses) related to defined benefit plans, before tax
Total of income tax related to items that will not be reclassified to profit or loss
Items that are or may be reclassified to profit or loss
Financial assets available for sale
Unrealized net gains (losses) arising during the period, before tax
Realized net (gains) losses arising during the period (reclassified to
profit or loss), before tax
Derivatives hedging variability of cash flows
Unrealized net gains (losses) arising during the period, before tax
Realized net (gains) losses arising during the period (reclassified to
profit or loss), before tax
Assets classified as held for sale
Unrealized net gains (losses) arising during the period, before tax
Realized net (gains) losses arising during the period (reclassified to
profit or loss), before tax
Foreign currency translation
Unrealized net gains (losses) arising during the period, before tax
Realized net (gains) losses arising during the period (reclassified to
profit or loss), before tax
Equity Method Investments
Net gains (losses) arising during the period
Total of income tax related to items that are or may be reclassified to profit or loss
Other comprehensive income (loss), net of tax
Total comprehensive income (loss), net of tax
Attributable to:
Noncontrolling interests
Deutsche Bank shareholders

2014

1,691

(403)
407

1,912
(87)
(6)
339
0
(3)
2,955
3
(35)
(672)
4,410
6,102
54
6,048

2013

2012

681

316

(717)

(891)

58

407

64

1,874

(313)

(164)

91

42

35

45

(948)

(537)

(1)

63

(38)

(160)
(1,825)
(1,144)

(447)
296
612

13
(1,157)

148
464

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Deutsche Bank Annual Report 2014


Consolidated Balance Sheet
in m.

Assets:
Cash and due from banks
Interest-earning deposits with banks
Central bank funds sold and securities purchased under resale
agreements
Securities borrowed
Financial assets at fair value through profit or loss
Trading assets
Positive market values from derivative financial instruments
Financial assets designated at fair value through profit or loss
Total financial assets at fair value through profit or loss
Financial assets available for sale
Equity method investments
Loans
Property and equipment
Goodwill and other intangible assets
Other assets
Assets for current tax
Deferred tax assets
Total assets
Liabilities and equity:
Deposits
Central bank funds purchased and securities sold under repurchase
agreements
Securities loaned
Financial liabilities at fair value through profit or loss
Trading liabilities
Negative market values from derivative financial instruments
Financial liabilities designated at fair value through profit or loss
Investment contract liabilities
Total financial liabilities at fair value through profit or loss
Other short-term borrowings
Other liabilities
Provisions
Liabilities for current tax
Deferred tax liabilities
Long-term debt
Trust preferred securities
Obligation to purchase common shares
Total liabilities
Common shares, no par value, nominal value of 2.56
Additional paid-in capital
Retained earnings

Notes

Dec 31, 2014

20,055
63,518
21, 22
21, 22

2, 16, 21, 22, 37


16, 21, 22
17
19, 20, 21, 22
23
25
26, 27
36
36

17,796
25,834
195,681
629,958
117,285
942,924
64,297
4,143
405,612
2,909
14,951
137,980
1,819
6,865
1,708,703

28

532,931

21, 22
21, 22
12, 16, 37

10,887
2,339

31
26, 27
20, 29
36
36
32
32

34

41,843
610,202
37,131
8,523
697,699
42,931
183,823
6,677
1,608
1,175
144,837
10,573
0
1,635,481
3,531
33,626
29,279

Common shares in treasury, at cost


Equity classified as obligation to purchase common shares
Accumulated other comprehensive income (loss), net of tax
Total shareholders equity
Additional equity components
Noncontrolling interests
Total equity
Total liabilities and equity

34

(8)
0
1,923
68,351
4,619
253
73,223
1,708,703

Dec 31, 2013

17,155
77,984
27,363
20,870
210,070
504,590
184,597
899,257
48,326
3,581
376,582
4,420
13,932
112,539
2,322
7,071
1,611,400

527,750
13,381
2,304
55,804
483,428
90,104
8,067
637,404
59,767
163,595
4,524
1,600
1,101
133,082
11,926
0
1,556,434
2,610
26,204
28,376

(13)
0
(2,457)
54,719
0
247
54,966
1,611,400

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Deutsche Bank Annual Report 2014


Consolidated Statement of Changes in Equity

Common shares
(no par value)
2,380
0
0
0

Additional paidin capital


23,695
0
0
0

Retained
earnings
30,119
263
0
(689)

Remeasurement gains (losses) related to defined benefit


plans, net of tax
Net change in share awards in the reporting period

0
0

0
(342)

(480)
0

Treasury shares distributed under share-based compensation


plans

Tax benefits related to share-based compensation plans

Additions to Equity classified as obligation to purchase


common shares

Deductions from Equity classified as obligation to purchase


common shares

Option premiums and other effects from options on common


shares
Purchases of treasury shares
Sale of treasury shares
Net gains (losses) on treasury shares sold

0
0
0
0

(63)
0
0
77

0
0
0
0

0
2,380
0
230
0

407
23,776
0
2,731
0

(14)
29,199
666
0
(764)

Remeasurement gains (losses) related to defined benefit


plans, net of tax
Net change in share awards in the reporting period

0
0

0
(385)

(659)
0

Treasury shares distributed under share-based compensation


plans

Tax benefits related to share-based compensation plans

30

Additions to Equity classified as obligation to purchase


common shares

Deductions from Equity classified as obligation to purchase


common shares

Option premiums and other effects from options on common


shares
Purchases of treasury shares

0
0

(49)
0

0
0

in m.
Balance as of December 31, 2011
Total comprehensive income, net of tax1
Common shares issued
Cash dividends paid

Other2
Balance as of December 31, 2012
Total comprehensive income, net of tax1
Common shares issued
Cash dividends paid

Sale of treasury shares


Net gains (losses) on treasury shares sold
Other
Balance as of December 31, 2013
Total comprehensive income, net of tax1
Common shares issued
Cash dividends paid

0
0
0
2,610
0
921
0

0
(49)
150
26,204
0
7,587
0

0
0
(65)
28,376
1,663
0
(765)

Remeasurement gains (losses) related to defined benefit


plans, net of tax
Net change in share awards in the reporting period

0
0

0
(103)

5
0

Treasury shares distributed under share-based compensation


plans

Tax benefits related to share-based compensation plans

(32)

Additions to Equity classified as obligation to purchase


common shares

Deductions from Equity classified as obligation to purchase


common shares

Option premiums and other effects from options on common


shares
Purchases of treasury shares
Sale of treasury shares
Net gains (losses) on treasury shares sold

0
0
0
0

(65)
0
0
(6)

0
0
0
0

0
3,531

41
33,626

0
29,279

Other
Balance as of December 31, 2014

1 Excluding remeasurement gains (losses) related to defined benefit plans, net of tax.
2 Includes the cumulative effect of the adoption of accounting pronouncements.
3 Excluding unrealized net gains (losses) from equity method investments.

4 Includes Additional Tier 1 Notes, which constitute unsecured and subordinated notes of Deutsche Bank and are classified as equity in accordance with IFRS

5 Of which approximately (750) million are attributable to the noncontrolling interests in Deutsche Postbank AG, which were significantly reduced in 2012 as
Deutsche Bank AG).
6 Includes net proceeds from issuance, purchase and sale of Additional Equity Components.

Common shares
in treasury, at
cost
(823)
0
0
0

Equity classified
as obligation to
purchase
common shares
0
0
0
0

Unrealized net
gains (losses)
on financial
assets available
for sale, net of
applicable tax
and other3
(617)
1,077
0
0

Unrealized net
gains (losses) Unrealized net
on derivatives
gains (losses)
hedging
on assets
variability of
classified as Foreign currency
cash flows, net held for sale, net translation, net
of tax3
of tax
of tax3
(226)
0
(1,166)
67
0
(424)
0
0
0
0
0
0

0
0

0
0

0
0

0
0

0
0

0
0

0
0

1,481

(4)

0
(12,152)
11,434
0

0
0
0
0

0
0
0
0

0
0
0
0

0
0
0
0

0
0
0
0

0
0
0
0

0
(60)
0
0
0

0
0
0
0
0

8
468
(165)
0
0

0
(159)
57
0
0

0
0
2
0
0

(3)
(1,593)
(1,121)
0
0

0
(10)
63
0
0

0
0

0
0

0
0

0
0

0
0

0
0

0
0

1,160

(1)

0
(13,648)

0
0

0
0

0
0

0
0

0
0

0
0

Unrealized net
gains (losses)
from equity
method
investments
28
(38)
0
0

12,535
0
0
(13)
0
0
0

0
0
0
0
0
0
0

0
0
0
303
1,372
0
0

0
0
0
(101)
181
0
0

0
0
0
2
(2)
0
0

0
0
0
(2,713)
2,865
0
0

0
0
0
53
(35)
0
0

0
0

0
0

0
0

0
0

0
0

0
0

0
0

840

0
(9,187)
8,352
0

0
0
0
0

0
0
0
0

0
0
0
0

0
0
0
0

0
0
0
0

0
0
0
0

0
(8)

0
0

0
1,675

0
79

0
0

0
151

0
18

lassified as equity in accordance with IFRS.

which were significantly reduced in 2012 as a result of both the increase in the Groups shareholdings as well as the conclusion of a domination agreement between Postbank

Accumulated
other
comprehensive
income, net of
tax1
(1,981)
681
0
0

Total
shareholders Additional equity
equity
components4
53,390
0
944
0
0
0
(689)
0

Noncontrolling
interests
1,270
152
0
(3)

Total equity
54,660
1,096
0
(692)

0
0

(480)
(342)

0
0

(4)
0

(484)
(342)

1,481

1,481

(4)

(4)

0
0
0
0

(63)
(12,152)
11,434
77

0
0
0
0

0
0
0
0

(63)
(12,152)
11,434
77

5
(1,294)
(1,164)
0
0

398
54,001
(498)
2,961
(764)

0
0
0
0
0

(1,176)5
239
13
0
(13)

(778)
54,240
(485)
2,961
(777)

0
0

(659)
(385)

0
0

0
0

(659)
(385)

1,160

1,160

30

30

(1)

(1)

0
0

(49)
(13,648)

0
0

0
0

(49)
(13,648)

0
0
0
(2,457)
4,380
0
0

12,535
(49)
85
54,719
6,043
8,508
(765)

0
0
0
0
0
0
0

0
0
8
247
54
0
(4)

12,535
(49)
93
54,966
6,097
8,508
(769)

0
0

5
(103)

0
0

0
0

5
(103)

840

840

(32)

(32)

0
0
0
0

(65)
(9,187)
8,352
(6)

0
0
0
0

0
0
0
0

(65)
(9,187)
8,352
(6)

0
1,923

41
68,351

4,6196
4,619

(44)
253

4,616
73,223

on agreement between Postbank and its immediate parent DB Finanz-Holding GmbH (a wholly owned subsidiary of

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Deutsche Bank Annual Report 2014


Consolidated Statement of Cash Flows
in m.

Net income
Cash flows from operating activities:
Adjustments to reconcile net income to net cash provided by (used in) operating
activities:
Provision for credit losses
Restructuring activities
Gain on sale of financial assets available for sale, equity method investments,
and other
Deferred income taxes, net
Impairment, depreciation and other amortization, and accretion
Share of net income from equity method investments
Income adjusted for noncash charges, credits and other items
Adjustments for net change in operating assets and liabilities:
Interest-earning time deposits with banks
Central bank funds sold, securities purchased under resale agreements,
securities borrowed
Financial assets designated at fair value through profit or loss
Loans
Other assets
Deposits
Financial liabilities designated at fair value through profit or loss and investment
contractbank
liabilities
Central
funds purchased, securities sold under repurchase agreements,
securities loaned
Other short-term borrowings
Other liabilities
Senior long-term debt
Trading assets and liabilities, positive and negative market values from
derivative financial instruments, net
Other, net
Net cash provided by (used in) operating activities
Cash flows from investing activities:
Proceeds from:
Sale of financial assets available for sale
Maturities of financial assets available for sale
Sale of equity method investments
Sale of property and equipment
Purchase of:
Financial assets available for sale
Equity method investments
Property and equipment
Net cash received in (paid for) business combinations/divestitures
Other, net
Net cash provided by (used in) investing activities
Cash flows from financing activities:
Issuances of subordinated long-term debt

2014

1,691

1,134
133
(391)
673
4,567
(569)
7,238
8,959
5,450
70,639
(26,909)
(28,812)
1,551
(54,334)
(2,963)
(17,875)
22,183
14,315
4,288
(4,360)
(630)

11,974
8,745
124
133
(34,158)
(78)
(669)
1,931
(826)
(12,824)
101

Repayments and extinguishments of subordinated long-term debt


Issuances of trust preferred securities
Repayments and extinguishments of trust preferred securities
Capital increase
Purchases of treasury shares
Sale of treasury shares
Net proceeds from Additional Equity Components 1
Dividends paid to noncontrolling interests
Net change in noncontrolling interests
Cash dividends paid
Net cash provided by (used in) financing activities
Net effect of exchange rate changes on cash and cash equivalents
Net increase (decrease) in cash and cash equivalents
Cash and cash equivalents at beginning of period
Cash and cash equivalents at end of period
Net cash provided by (used in) operating activities include
Income taxes paid (received), net
Interest paid
Interest and dividends received
Cash and cash equivalents comprise
Cash and due from banks
Interest-earning demand deposits with banks (not included: time deposits of
31,612 m. as of December 31, 2014, and 39,097 m. and 95,193 m. as of
December 31, 2013 and 2012)
Total
1 Includes net proceeds from issuance, repurchase and sale of Additional Equity Components.

(3,142)
49
(3)
8,508
(9,187)
8,318
4,619
(4)
(17)
(765)
8,477
897
(4,080)
56,041
51,960
377
11,423
25,404
20,055

31,905
51,960

2013

2012

681

316

2,065
399

1,721
394

(493)
(179)
2,443
(433)
4,483

(627)
723
3,236
(397)
5,365

55,515

1,320

11,267
(27)
16,007
12,048
(42,281)

(3,429)
(6,561)
11,756
32,249
(25,995)

(18,558)
(23,080)
(9,529)
(17,625)
(22,056)

(9,126)
(4,202)
3,335
(11,483)
(5,079)

38,013
3,007
7,184

(9,310)
(2,794)
(23,954)

18,054
11,564
76
137

7,476
12,922
163
197

(31,588)
(21)
(513)
(128)
(596)
(3,015)

(22,170)
(14)
(614)
96
(703)
(2,647)

1,217

62

(2,776)
11
(49)
2,961
(13,648)
12,494
0
(13)
23
(764)
(544)
(907)
2,718
53,321
56,041

(708)
17
(30)
0
(12,171)
11,437
0
(3)
(67)
(689)
(2,152)
39
(28,714)
82,032
53,321

742
10,687
25,573

1,280
15,825
32,003

17,155

27,877

38,886
56,041

25,444
53,321