Deutsche Bank raises its return on tangible equity target to above 10 percent

Annual Report: transformation drives strong performance in 2021

• Highest profit since 2011 with net profit up fourfold to € 2.5 billion
• Net revenue growth of 6% to € 25.4 billion
• Improvements in post-tax RoTE¹ and cost/income ratio
• Proposed capital distribution of approximately € 700 million to shareholders
• 2021 compensation reflects cost discipline and reward for performance
  • Total compensation down 2% to € 9.9 billion due to efficiency measures
  • Variable compensation up 14% to € 2.1 billion, reflecting significantly improved results

Updated strategic and financial roadmap through 2025

• Deutsche Bank to strengthen its position as ‘Global Hausbank,’ becoming first point of contact for a greater number of clients
• Clear financial objectives for 2025, building on transformation:
  • Post-tax RoTE1 above 10% with cost/income ratio below 62.5%
  • Compound annual revenue growth of 3.5%-4.5% from 2021-25
• ~€ 8 billion of capital distribution in respect of financial years 2021-2025²

Full press release