July 24, 2012

Deutsche Bank provides preliminary update on second quarter 2012 results: Costs impacted by currency movements

Deutsche Bank AG (XETRA: DBKGn.DE / NYSE: DB) announced today, on a preliminary basis, key elements of its second quarter 2012 financial performance.

Deutsche Bank expects total net revenues of approximately EUR 8.0 billion for the second quarter (2Q2011: EUR 8.5 billion). Credit provisions were approximately EUR 400 million (2Q2011: EUR 464 million). Noninterest expenses were EUR 6.6 billion (2Q2011: EUR 6.3 billion). The increase in noninterest expenses is mainly a result of the bank’s U.S. dollar and pound sterling cost base being negatively affected by the weakening of the euro.

As a result, Deutsche Bank currently anticipates an income before income taxes for the second quarter 2012 of approximately EUR 1.0 billion (2Q2011: EUR 1.8 billion), and a net income of approximately EUR 700 million (2Q2011: EUR 1.2 billion).

The Bank’s Core Tier 1 capital ratio was 10.2% at the end of the second quarter (1Q2012: 10.0%), well ahead of regulatory requirements and demonstrating achievement of management action to reduce risk weighted assets. Deutsche Bank confirms its simulated, pro forma, Basel III fully phased-in Core Tier 1 capital ratio of 7.2% at the beginning of 2013, as previously published. Lower full year net income projections will be mitigated by additional de-risking measures.

Deutsche Bank will publish its full Interim Report on the second quarter and discuss the results as scheduled on 31 July 2012.
Deutsche Bank


Deutsche Bank AG
Taunusanlage 12
60325 Frankfurt am Main
ISIN: DE0005140008
WKN: 514000

Listed: Regulated market in Berlin-Bremen, Duesseldorf, Frankfurt (Prime Standard), Hamburg, Hanover, Munich und Stuttgart; EUREX; NYSE

The International Securities Identification Numbers (ISINs) of further financial instruments issued by Deutsche Bank AG, and admitted to trading on a domestic organized market or for which such admission has been applied for, are listed in the attached PDFs.