Deutsche Bank : publishes Annual Report 2015

Deutsche Bank (XETRA: DBKGn.DE / NYSE: DB) today published its 2015 Annual Report. Besides an overview of Deutsche Bank Group the Report contains the Management Report and the Bank's audited Consolidated Financial Statements for the financial year 2015. In addition, the Bank published its 2015 Corporate Responsibility Report and Human Resources Report.

John Cryan and Jürgen Fitschen, Co-Chief Executive Officers, wrote in their letter to shareholders: "2015 was a challenging year for Deutsche Bank. We announced a new strategy which charts our course for the next five years, and embarked decisively on implementing it. Deutsche Bank recorded business growth last year."

They added: "The beginning of 2016 has seen volatility in the world's financial markets. This has impacted the banking sector. The seasonally strong first quarter might turn out to be challenging for the sector overall. Deutsche Bank is no exception to this. Nonetheless, in this period of market turbulence, Deutsche Bank remains very solid."

Annual Report

The 2015 Annual Report details the Bank's full-year audited financial results. Consistent with preliminary unaudited results published on January 28, 2016, the Bank reported a net loss for 2015 of 6.8 billion euros. In 2014 net income was 1.7 billion euros. Revenues were 33.5 billion euros, up 5 percent versus the prior year.

Compensation

Total compensation increased slightly to 10.5 billion euros in 2015 (2014: 10.0 billion euros). This development partly reflects foreign exchange rate movements, together with a rise in the number of full-time equivalent staff to 101,104, up by approximately 3,000 versus the end of 2014.

This increase was driven in part by the internalization of external staff in key infrastructure areas, strategic hiring for growth in specific businesses, and the strengthening of the Bank's control functions: Compliance, Legal, and Audit.

Nonetheless, variable compensation was 2.4 billion euros in 2015, a decrease of 17 percent versus 2014 at constant exchange rates. In Corporate Banking & Securities, variable compensation decreased by 20 percent at constant exchange rates.

The Supervisory Board decided to reduce variable compensation for all Management Board members in office during the 2015 financial year to zero.

The members of the Management Board collectively received compensation of 22.7 million euros for 2015, a decrease of 36 percent versus 2014. Compensation for the Co-Chairmen of the Management Board, Jürgen Fitschen and John Cryan, who joined the Management Board as Co-Chief Executive Officer on July 1, 2015, was 3.8 million euros and 1.9 million euros respectively.

Human Resources

Deutsche Bank's percentage of women at Managing Director and Director level rose again in 2015, from 19.4 percent to 20.5 percent, in line with the Bank's 2011 voluntary commitment which was also made by other DAX 30 companies. The proportion of women on the Supervisory Board was 35 percent. Sylvie Matherat, Chief Regulatory Officer, was appointed to the Management Board in November 2015. The Bank is committed to increasing gender diversity and creating equal opportunities for women, both across its organization and in positions of senior responsibility.

Deutsche Bank employed staff of 149 different nationalities at the end of 2015.

The Human Resources Report provides transparency on Deutsche Bank's other key employee metrics. Investment in training and development increased by 12 percent during 2015. More than one third of open positions globally, and 60 percent of those in Germany, were filled internally in 2015. The Bank increased its investment in young talent during the year, hiring 766 university graduates globally, up by 33 percent versus 2014, and 863 new trainees for its apprenticeship programs in Germany, up by 5 percent over the previous year.

Corporate Responsibility

Deutsche Bank supports projects that empower the next generation to gain access to education and career opportunities. In 2015, the Bank widened its Born to Be youth engagement program to reach 1.3 million people (2014: 1.2 million). More than 17,000 employees of Deutsche Bank invested more than 185,000 hours of their time in Corporate Volunteering initiatives.

Deutsche Bank further expanded its due diligence of the potential social and environmental impact of new business opportunities in 2015. During the year, the Bank conducted this due diligence on 1,346 potential transactions and customer relationships (2014: 1,250).

Deutsche Bank has operated on a 'carbon neutral' basis since 2012. The Bank supports renewable energy projects, providing 5 billion euros in project finance for renewable energy projects generating a total capacity of more than 3,400 megawatts as at the end of 2015. Furthermore, the Bank supported the issue of Green Bonds with a total volume of 4 billion euros. As part of its liquidity reserve investments, Deutsche Bank invested 800 million euros in Green Bonds.

Deutsche Bank focuses on different dimensions of sustainability and aims to balance commercial success with environmental and social responsibility. The Bank's Corporate Responsibility Report outlines a range of initiatives the Bank has undertaken in this area during 2015. The Bank strengthened its control systems and takes account of environmental and social factors in its core business. The Report outlines the Bank's varied corporate citizenship agenda.

The Management Board is committed to doing everything in its power to ensure that its people identify with Deutsche Bank and once again speak of their employer with pride.

All reports can be downloaded from:www.db.com/ir/en/reports-and-events.htm

The Annual Report on Form 20-F, which will be submitted to the U.S. Securities and Exchange Commission (SEC) over the course of today, will also be made available following submission (in English only) on the website:
https://www.db.com/ir/en/sec-filings-for-financial-results.htm

An updated 4Q2015 Financial Data Supplement is available at:www.db.com/15

Printed copies of the complete Annual Report can be ordered free of charge from:www.db.com/order-serviceand will be dispatched starting mid-April 2016.

About Deutsche Bank

Deutsche Bank provides commercial and investment banking, retail banking, transaction banking and asset and wealth management products and services to corporations, governments, institutional investors, small and medium-sized businesses, and private individuals. Deutsche Bank is Germany's leading bank, with a strong position in Europe and a significant presence in the Americas and Asia Pacific.

Disclaimer

This release 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 on plans, estimates and projections as they are currently available to the management of Deutsche Bank. Forward-looking statements therefore speak only as of the date they are made, and we undertake no obligation to update publicly any of them in light of new information or future events.

By their very nature, forward-looking statements involve risks and uncertainties. A number of important factors could therefore cause actual results to differ materially from those contained in any forward-looking statement. Such factors include the conditions in the financial markets in Germany, in Europe, in the United States and elsewhere from which we derive a substantial portion of our revenues and in which we hold a substantial portion of our assets, the development of asset prices and market volatility, potential defaults of borrowers or trading counterparties, the implementation of our strategic initiatives, the reliability of our risk management policies, procedures and methods, and other risks referenced in our filings with the U.S. Securities and Exchange Commission. Such factors are described in detail in our SEC Form 20-F of 11 March 2016 under the heading "Risk Factors". Copies of this document are readily available upon request or can be downloaded fromwww.db.com/ir.