Reports

The Annual Report includes an overview of Deutsche Bank, the Management Report and the bank’s audited consolidated financial statements for the financial year 2016. In addition, the bank published its 2016 Corporate Responsibility Report and Human Resources Report Report.

Annual Report

Deutsche Bank reported a net loss for 2016 of 1.4 billion euros, versus a net loss of 6.8 billion euros for 2015. Revenues were 30.0 billion euros, down 10 percent versus the prior year. Noninterest expenses were 29.4 billion euros, down 24 percent. The adjusted cost base, which excludes costs for litigation, impairments of goodwill and intangibles, restructuring and severance and policyholder benefits and claims, was reduced by six percent to 24.7 billion euros. The bank’s Common Equity Tier 1 capital ratio (fully-loaded) was 11.8 percent at year-end 2016 versus 11.1 percent at the end of 2015. Risk weighted assets were reduced by 10 percent to 358 billion euros, versus 397 billion euros at the end of 2015.

Compensation

The Annual Report includes the bank’s Compensation Report. Total compensation awarded for 2016 decreased to 8.9 billion euros (2015: 10.5 billion euros). This was driven by a 77 percent reduction in variable compensation awarded in 2016, from 2.4 billion euros in 2015 to 0.5 billion euros in 2016, following the Management Board’s decision to substantially limit variable compensation for employees at senior levels. A portion of this variable compensation will be paid out in future years.

For the second consecutive year, no member of the Management Board received variable compensation for 2016. Annual total compensation excluding fringe benefits and pension service costs was 2.4 million euros each in base salary for ordinary Management Board members while John Cryan, Management Board Chairman and Group Chief Executive Officer, received a salary of 3.8 million euros. These amounts were unchanged versus 2015. Management Board members who joined or left the Management Board during the year received compensation calculated pro-rata on the proportion of the calendar year served.

Human Resources

The bank’s Human Resources Report provides employee metrics and information on Deutsche Bank’s strategic Human Resources priorities and initiatives during 2016.

The number of employees (full-time equivalent) decreased in 2016 by 1,360 or 1.3 percent to 99,744. Divestments, job reductions due to restructuring and other leavers more than offset headcount growth from strategic hires to strengthen the bank’s control functions including Compliance and Anti-Financial Crime, and from the internalisation of external employees, primarily in technology and digitization roles, during the year.

The bank remained committed to filling vacant positions with internal candidates whenever possible during 2016. In 2016, 39 percent of global open positions were filled by existing staff, up from 30 percent in 2015. In Germany, this proportion increased to 71 percent, versus 60 percent in 2015.

Deutsche Bank also continued to invest in young talent during 2016. Globally, the bank hired 813 graduates, an increase of 6 percent over 2015. 39 percent of the graduate class are female, and 23 percent of all graduates hired joined the technology function, reflecting the bank’s strategic focus on digitization. The bank also sustained its apprenticeship programme in Germany, hiring 741 new apprentices during 2016.

The bank underlined its commitment to gender equality during 2016. The percentage of women at Managing Director and Director level rose again, from 20.5 percent in 2015 to 21.3 percent. The number of women at these levels has grown by 16 percent since the bank’s 2011 voluntary commitment, alongside other DAX 30 companies, to increase the proportion of women in executive positions. Chief Operating Officer Kim Hammonds was appointed to the Management Board in August 2016. This followed Chief Regulatory Officer Sylvie Matherat’s appointment in November 2015, and means that Deutsche Bank’s Management Board, for the first time in the bank’s history, now includes two female members. The proportion of women on the Supervisory Board remained at 35 percent. Deutsche Bank is one of only two German companies included in the global Bloomberg Financial Services Gender Equality Index. This recognises firms for their commitment to gender diversity.

Deutsche Bank has employees from 150 different nationalities as at the end of 2016. The bank has also remained a strong supporter of inclusion for lesbian, gay, bisexual, transgender, trans- and intersexual (LGBTI) people. For the fourteenth consecutive year, Deutsche Bank was awarded the maximum score of 100 in the Human Rights Campaign’s annual Corporate Equality Index.

Corporate Responsibility

Deutsche Bank has been carbon neutral since 2012 and sustained its support for renewable energy projects during 2016. It arranged 3.9 billion euros in project financing for renewable energy projects expected to generate around 3,500 megawatts. It also strengthened its Environmental and Social Risk Policy Framework, which provides transparency and sets out guidelines on business in sectors that fall within the bank’s environmental and social risk policies. During 2016 Deutsche Bank announced that it will no longer grant new financing for new coal power plant construction and greenfield thermal coal mining, and will gradually reduce its existing exposure to the thermal coal mining sector.

Deutsche Bank was the first commercial bank globally to be accredited as an implementing entity for the UN Green Climate Fund. In 2016 the Fund approved a 74.4 million euro investment in a Deutsche Asset Management fund supporting renewable energy access in Africa.

Deutsche Bank’s corporate citizenship activities reached nearly five million people in 2016. Approximately 2.4 million people were given access to Deutsche Bank art and culture sponsorships and programmes, while the bank’s ‘Born To Be’ education programmes reached 1.35 million young people in 2016. Community development efforts supported some 900,000 disadvantaged people around the world, tackling issues ranging from homelessness to basic amenities such as food, water and shelter. The ‘Made For Good’ enterprise programme helped nearly 10,000 charities and social entrepreneurs provide support for nearly 150,000 beneficiaries.

Around 17,000 Deutsche Bank employees donated nearly 188,000 hours of their time and expertise in a wide variety of volunteering activities during 2016.

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At a glance

Sustainability in asset management

Continuing to integrate ESG factors into investment decision-making, alongside developing our sustainable and impact investment business, is fundamental to Deutsche Asset Management’s strategy. In 2016 Deutsche Asset Management developed its first Responsible Investment Statement, covering the entire division. Deutsche Asset Management offers a range of products that respond to ESG issues and sustainable investment expectations — from managing assets that encompass active and passive ESG screening to sustainable investment funds, ESG real estate assets, social finance innovations, and impact investments.

For more information, please click here: https://cr-report.db.com/2016/en/products-and-services/esg-in-asset-management

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At a glance

Financing renewable energy

Deutsche Bank helps clients to develop, acquire, and sell low-carbon businesses and assets. Indeed, we are one of the top European private-sector project financiers of clean energy, while our financing and advisory services support other low-carbon and clean-tech businesses. During 2016, we arranged approximately €3.9 billion in project finance for renewable energy projects generating over 3,480 megawatts.

For more information, please click here.

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At a glance

Digitizing the bank with diverse young talent

A major emphasis in graduate hiring is on technology roles, in line with Deutsche Bank’s strategic focus on digitization in all aspects of its value chain. 23% of the 2016 graduate class joined the bank’s technology functions, 40% of whom are female.

For more information, please click here.

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At a glance

Supporting LGBTI communities and employees

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The bank has received various accolades honoring its commitment to LGBTI causes. For example, it was awarded the maximum score of 100 in the Human Rights Campaign’s annual Corporate Equality Index for the 14th consecutive year.

For more information, please click here.

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At a glance

Access to clean energy

We are the first commercial bank globally to become accredited to act as an implementing entity for the Green Climate Fund, established by the UN Framework Convention on Climate Change’s Conference of the Parties as the central global investment vehicle to combat climate change and its effects. In October 2016, the Fund approved an initial €74.4 million investment in a new Deutsche Asset Management fund for renewable energy access in Africa: the Universal Green Energy Access Programme.

For more information, please click here.

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At a glance

Plus You – Deutsche Bank's volunteering and giving community

Education, enterprise, and communities—the pillars of Deutsche Bank’s citizenship agenda—are underpinned by employee engagement. For the past 25 years, we have encouraged colleagues to support local community projects or our partner charities through fundraising and civic engagement.

Increasingly, the focus of our volunteering agenda is to leverage employee skills and knowledge. Alongside transferring skills, community challenges inspire employees to promote social projects in their neighborhoods; to help the disadvantaged; and to support disaster relief, refugee-related, or environmental initiatives that make a lasting difference.

For more information, please click here.

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At a glance

Made for Good – the Deutsche Bank Enterprise programme for social good

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Supporting early-stage entrepreneurs—microenterprises, non-profits, or commercially viable social businesses—is a natural extension of our core franchise and creates shared value. In 2016, we rolled out Made for Good globally to support innovative businesses that tackle urgent social and environmental challenges. These may include access to education, healthcare, clean water and food; creating routes out of poverty; invigorating local economies; or contributing to vibrant and diverse communities. Made for Good leverages our core expertise to enable enterprises and provides direct access to Deutsche Bank employee know-how.

For more information, please click here.

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At a glance

Progress in gender equality

In 2011, Deutsche Bank signed a voluntary declaration alongside other DAX-30 companies to substantially raise the proportion of female managers globally by the end of 2018. As of year-end 2016, the number of female Managing Directors and Directors has increased by 16% since 2011. In 2016, the percentage of women at this level stood at 21.3%, compared with 20.5% the previous year. The share of female officers was 32.8% (2015: 32.5%).

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At a glance

Born to Be – the Deutsche Bank youth engagement programme

The Born to Be youth engagement programme of Deutsche Bank and its foundations is designed to break the cycles that limit prospects for employment globally through a range of interventions. This includes building aspirations among children and youth, teaching new skills, and providing an open path to educational and employment opportunities. Our portfolio ranges from sport for development programs that help young people to improve their learning aptitude and projects that promote educational success or develop employability skills, to cultural education projects that not only foster the understanding of art and culture, but also drive educational attainment.

For more information, please click here.

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At a glance

Generating clean energy

Deutsche Bank helps clients to develop, acquire, and sell low-carbon businesses and assets. Indeed, we are one of the top European private-sector project financiers of clean energy, while our financing and advisory services support other low-carbon and clean-tech businesses. During 2016, we arranged approximately €3.9 billion in project finance for renewable energy projects generating over 3,480 megawatts.

 For more information, please click here: https://cr-report.db.com/2016/en/products-and-services/low-carbon-economy-and-finance

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At a glance

Investing in the society we live in

As a corporate citizen, Deutsche Bank has been working for a better future since the early 20th century to support the drivers of prosperity for individuals, communities, and economies.

Our education projects prepare young people to be the workforce of tomorrow. We work with pioneering enterprises to drive positive change in society. We contribute to stronger and more inclusive communities. We work with like-minded partners from public and private sectors and count on the support of our own people, encouraging them to volunteer and give to causes they care about.

For more information, please click here: https://cr-report.db.com/2016/en/people-and-community/corporate-citizenship

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At a glance

Plus You - Donating time

Education, enterprise, and communities—the pillars of Deutsche Bank’s citizenship agenda—are underpinned by employee engagement. For the past 25 years, we have encouraged colleagues to support local community projects or our partner charities through fundraising and civic Engagement.

Increasingly, the focus of our volunteering agenda is to leverage employee skills and knowledge. Alongside transferring skills, community challenges inspire employees to promote social projects in their neighborhoods; to help the disadvantaged; and to support disaster relief, refugee-related, or environmental initiatives that make a lasting difference.

For more information, please click here: https://cr-report.db.com/2016/en/people-and-community/corporate-citizenship/corporate-volunteering

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At a glance

2 female Management Board members for the first time in Deutsche Bank's history

Throughout 2016, Deutsche Bank continued its efforts to advance women in the workplace under new gender quota legislation introduced in Germany in 2015.

The percentage of women on Deutsche Bank’s Supervisory Board stood at 35% at the end of 2016, above the new statutory requirement of 30% for listed and co-determined German companies. The Supervisory Board’s target for the Management Board was set in 2015 as at least one female member by June 30, 2017.

This target has been met with the appointments of Chief Regulatory Officer Sylvie Matherat and Chief Operating Officer Kimberly Hammonds to the Management Board in 2015 and 2016, respectively.

For more information, please click here: https://hr-report.db.com/2016/en/diversity/visible-progress-in-gender-equality.html

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At a glance

6 % more new graduates hired globally than 2015

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Deutsche Bank continues to ensure a steady pipeline of junior employees. In 2016, it hired 813 new graduates (compared with 766 in 2015) globally, who started their program with an orientation event in July. This reflects the bank’s ongoing commitment to building future talent.

For more information, please click here: https://hr-report.db.com/2016/en/attracting-talent/building-a-pipeline-of-young-talent.html

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At a glance

Climate neutral

In order to contribute to a low-carbon economy, we try to make our own operations as energy-efficient as possible. By 2012, we had become carbon-neutral–in other words, our inevitable carbon emissions were balanced out by purchase and retirement of high-level emission reduction certificates. In 2016, we avoided 289,694 tons of CO2e emissions by purchasing renewable electricity. We also invested in projects that support climate change mitigation and economic development in Africa, Latin America, and Asia. All offsetting projects complied with well-recognized global standards such as the Gold Standard or the Verified Carbon Standard

For more information, please click here.

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At a glance

In the communities

An integral part of Deutsche Bank’s corporate citizenship is to care for those at the margins of society. We work at the grassroots level to improve the day-to-day well-being of those in need and to help communities find longer-term solutions to their challenges. Through our investments, grants, donations, and the hands-on commitment of our corporate volunteers, we help to alleviate poverty, or the consequences of forced migration, joblessness, and homelessness. Our initiatives make a tangible contribution to the Sustainable Development Agenda 2030.

For more information, please click here: https://cr-report.db.com/2016/en/people-and-community/corporate-citizenship/strengthening-communities

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At a glance

11% of the entire workforce changed roles within the organization

During the year, 9,715 employees – or 11.1% of the entire workforce – changed roles within the organization, with cross-divisional moves increasing by 6% from 2015.

For more information, please click here: https://hr-report.db.com/2016/en/transforming-the-bank/strengthening-internal-career-mobility.html

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At a glance

150 nationalities are represented in our people work at Deutsche Bank

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