January 31, 2011

Deutsche Bank provides preliminary update on fourth quarter 2010 results

Deutsche Bank AG (XETRA: DBKGn.DE / NYSE: DB) today announced, on a preliminary and unaudited basis, key elements of its fourth quarter 2010 financial performance.

Deutsche Bank expects increased total net revenues of approximately EUR 7.4 billion for the fourth quarter (4Q2009: EUR 5.5 billon). Due to first time consolidation of Deutsche Postbank AG and acquisition-related costs as well as accelerated investments made to realign the bank, i.e. integration measures in the Corporate and Investment Bank (CIB) and Sal. Oppenheim Group, Deutsche Bank’s noninterest expenses increased to EUR 6.3 billion (4Q2009: EUR 4.2 billion). 

As a result, Deutsche Bank currently anticipates an income before income taxes for the fourth quarter 2010 of approximately EUR 700 million (4Q2009: EUR 756 million), and a net income of approximately EUR 600 million (4Q2009: EUR 1.3 billion, reflecting special tax items).

Deutsche Bank’s fourth-quarter and full-year 2010 results will be published as scheduled on 3 February 2011 with the Annual Press Conference in Frankfurt and an Analyst Call taking place on the same day.

For further information, please call:

Deutsche Bank AG 
Press & Media Relations    
+49 69 910 43800 (Frankfurt) 

Investor Relations
+49 69 910 35395 (Frankfurt)
+1 212 250 1540 (New York)

About Deutsche Bank

Deutsche Bank is a leading global investment bank with a strong private clients franchise. A leader in Germany and Europe, the bank is continuously growing in North America, Asia and key emerging markets. With more than 80,000 employees in 73 countries, Deutsche Bank offers unparalleled financial services throughout the world. The bank competes to be the leading global provider of financial solutions for demanding clients creating exceptional value for its shareholders and people.


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 16 March 2010 under the heading “Risk Factors.” Copies of this document are readily available upon request or can be downloaded from www.deutsche-bank.com/ir.

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