1. Deutsche Bank
Deutsche Bank
at a Glance

2. About Deutsche Bank
Deutsche Bank is a leading global investment bank
with a substantial private clients franchise. Its
businesses are mutually reinforcing. The bank
competes to be the leading global provider of
financial solutions, creating lasting value for its
clients, shareholders, people and the communities
in which it operates.
Against a backdrop of increasing globalization in the
world economy, Deutsche Bank is very well-
positioned, with a presence in over 70 countries,
significant regional diversification and substantial
revenue streams from all the major regions of the
world. The bank has established strong bases in all
major emerging markets, and therefore has good
prospects for business growth in fast-growing
economies, including the Asia-Pacific region, Central
and Eastern Europe, and Latin America. In its home
market, Germany, Deutsche Bank is the undisputed
number one, and it has a leading market position in
Europe, which is indispensible for the bank’s global
success.
Global presence
London
Dubai
Dubai
ba
Frankfurt
am Main Tokyo
New York
Singapore
Regional major hub
Capital of country in which we are represented
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3. Group Divisions
Deutsche Bank is organized into the Group Divisions
Corporate & Investment Bank (CIB), Private Clients
and Asset Management (PCAM) and Corporate
Investments (CI).
Deutsche Bank’s core businesses are:
Private & Business Clients offers a full range of
traditional banking products, including current
accounts, deposits and loans, and investment
management and pension products mainly to
private and self-employed individuals, and small to
medium-sized businesses.
Asset Management provides retail clients across the
globe with mutual fund products and offers
institutional clients, including pension funds and
insurance companies, a broad range of services from
traditional to alternative investment products.
Private Wealth Management serves high net worth
individuals and families, trusts and foundations as
well as selected institutional investors worldwide.
It provides these very discerning clients with a
fully-integrated wealth management service,
including inheritance planning and philanthropic
advisory services.
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4. Markets combines the sales, trading and structuring
of a wide range of financial market products,
including bonds, equities and equity-linked products,
exchange traded and over-the-counter derivatives,
foreign exchange, money market instruments,
securitized instruments and commodities.
Corporate Finance is responsible for mergers and
acquisitions, including advisory; debt and equity
issuance; and capital markets coverage of large and
medium-sized corporations. Regional and industry-
focused teams ensure the delivery of the entire range
of financial products and services to the clients.
Global Transaction Banking delivers a comprehensive
range of commercial banking products and services
for corporate clients and financial institutions,
including domestic and cross-border payments,
professional risk management and international
trade financing. GTB also provides trust, agency,
depositary, custody and related services.
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5. Corporate Governance
Effective corporate governance in accordance with
high international standards is a matter of course for
Deutsche Bank. The system of corporate governance
provides the basis for the responsible management
and control of the bank, with a focus on sustainable
value creation. It has four key elements: good
relations with shareholders; effective cooperation
between the Management Board and Supervisory
Board; a performance-based compensation system
with a sustainable and long-term focus, as well as
transparent and timely reporting.
The essential framework for this is provided, first
and foremost, by the German Stock Corporation
Act and the German Corporate Governance Code.
Since the bank’s share is listed on the New York
Stock Exchange, Deutsche Bank is also subject to
the relevant U.S. capital market laws as well as the
rules of the Securities and Exchange Commission
(SEC) and New York Stock Exchange (NYSE).
Deutsche Bank continuously checks its system
of corporate governance in light of new events,
statutory requirements and developments in
domestic and international standards, and makes
the appropriate adjustments. A detailed Corporate
Governance Report, along with the Declaration of
Conformity and other documents on the bank’s
corporate governance, such as the terms of reference
for the Management Board, the Supervisory and its
committees, are available on the Internet.
Shareholders and the public are regularly kept up to
date, above all, through the Annual Report, including
the Consolidated Financial Statements, as well as the
Interim Reports. Deutsche Bank Group’s reporting
is in accordance with International Financial
Reporting Standards (IFRS). This provides for a high
degree of transparency in financial reporting and
facilitates comparability with its international peers.
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6. Shareholders
The number of Deutsche Bank’s shareholders
increased over the course of 2010 by about 54,000 to
reach a new record high of roughly 640,000.
Institutional investors held 75% of the capital; 25% of
the share capital was held by private investors. All in
all, the regional shareholders structure changed very
little in 2010: 53% of all Deutsche Bank shares were
held abroad, while 47% were held in Germany.
Deutsche Bank informs its shareholders and analysts
regularly about the development of its business and
strategy primarily through a toll-free shareholder
hotline and the Internet portal. On the website, the
bank provides all of the current company announce-
ments and financial reports as well as the possibility
of viewing interactive analyses of the Deutsche Bank
share. At analyst meetings and telephone conference
calls, the bank broadcasts additional information
live via the Internet. Furthermore, shareholders can
register online to participate in the Annual General
Meeting and they can also issue their voting instruc-
tions online in advance of the shareholders’ meeting.
The share price decline in 2010 reduced the long-
term total shareholder return. An investor who
bought Deutsche Bank shares for the equivalent of
€ 10,000 at the start of 1980, reinvested dividends
and subscribed to capital increases without injecting
additional funds would have held a portfolio worth
€ 79,314 at the end of 2010. This corresponds to an
average annual return of 7%.
Long-term value
2,000
1,500
1,000
500
0
80 81 82 83 84 85 86 87 88 89 90 91 92 93 94 95 96 97 98 99 00 01 02 03 04 05 06 07 08 09 10
Total Return Index, beginning of 1980 = 100, quarterly figures
Deutsche Bank
DAX
Source: Datastream
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7. In 2010, Deutsche Bank announced the largest
capital increase in its history, intended to finance the
takeover of Deutsche Postbank AG. For this purpose,
a resolution was passed to offer, in Germany and
the United States of America, a total of 308.6 million
new common shares from authorized capital against
cash contributions. The shareholders reacted very
positively to this offer. All in all, the bank successfully
placed all of the new Deutsche Bank shares issued
and generated gross issue proceeds of € 10.2 billion,
which were even higher than initially expected.
The share capital of Deutsche Bank AG increased by
€ 790.1 million to € 2,379.5 million and the number
of common shares rose to 929,499,640 as of the end
of 2010. The strong support for the capital increase
of more than € 10 billion in a particularly difficult
environment for banks highlights the great trust
the shareholders have in Deutsche Bank’s future
development.
The capital increase contributed to the bank’s market
capitalization, which rose to € 36.3 billion by the end
of the year 2010. The weighting of the Deutsche
Bank share in the DAX went up to 6.0% after 5.8%
in 2009. The volume of trading in the share on Xetra
came to € 160 billion during 2010, which means the
bank ranked second among DAX shares.
Useful information on the Deutsche Bank share
2010
Change in total return1 (11.72) %
Share in equities trading (Xetra)1 6.80 %
Average daily trading volume 2 8.0 million shares
Share price high 3 € 55.11
Share price low 3 € 35.93
Dividend per share (proposed for 2010) € 0.75
As of December 31, 2010
Issued shares 929,499,640
Outstanding shares 919,062,360
Share capital € 2,379,519,078.40
Market capitalization € 36.34 billion
Share price 4 € 39.10
Weighting in the DAX 5.99 %
Weighting in the STOXX 50 1.38 %
1
Share price based on Xetra · 2 Orderbook statistics (Xetra) · 3 For comparison purposes, the share
prices have been adjusted for all periods before October 6, 2010 to reflect the impact of the sub-
scription rights issue in connection with the capital increase. · 4 Xetra – closing price
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8. Clients
Deutsche Bank is a reliable partner for its clients with
a full range of financial solutions suited to their
individual needs. The streamlining and accelerated
integration of the Corporate & Investment Bank
Group Division translate into a higher quality of
service and an enhanced product range. With the
internationally competitive business model, the bank
can assist its clients in building their success. And
as a result of the expansion of the retail business,
Deutsche Bank is now in a position to offer a suitable
range of products and services for all client groups in
Germany.
Deutsche Bank offers its clients a broad range of
first-class banking services. It provides private clients
as well as small to medium-sized businesses with
an all-round service extending from account-keeping
and cash and securities investment advisory to asset
management. The bank offers corporate and
institutional clients the full product assortment of an
international corporate and investment bank – from
payments processing and corporate finance to IPOs
and M&A advisory. In addition, the bank has a
leading position in international foreign exchange,
fixed-income and equities trading.
Number of clients (rounded)
2010 2009 2008
Corporate & Investment Bank1 54,400 41,600 42,600
Private Clients and Asset Management
Private & Business Clients 28,787,000 14,600,000 14,600,000
– thereof: Deutsche Postbank AG 14,150,000 – –
Asset & Wealth Management
– Retail Asset Management 2
(Germany/Luxembourg) 2,225,000 2,119,000 1,937,000
– thereof: in cooperation 464,000 389,000 230,000
– Institutional Asset Management 2,300 2,300 2,300
– Private Wealth Management 3 79,400 78,000 1 92,000
1
Change in counting method
2
Including clients whose business relationship is managed by a cooperation partner
3
Number of relationships excluding Private Client Services (U.S.A.), 2010 including Sal.
Oppenheim
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9. Staff
Deutsche Bank’s success is primarily thanks to its
staff members, who bring their passion to perform
and expertise to furthering the company’s interests.
The bank sees the diversity of its employees as an
asset both in its internal interactions as well as in its
external relationships with clients. Deutsche Bank
invests heavily in the professional and personal skills
of its staff. The performance-based remuneration
structures are aligned to the long-term success and
take account of recent lessons learned from the
financial crisis.
Regional distribution of employees
Total staff: 102,0621
Germany 48.3%
Europe (excluding Germany),
Middle East and Africa 23.3%
Asia/Pacific 17.4%
Americas 11.0%
1
Full-time equivalent (as of December 31, 2010)
As of the end of 2010, Deutsche Bank employed
approximately 100,000 people and operated in over
70 countries out of more than 3,000 branches
worldwide. As an employer of people from 140
nations, it is essential for the bank to provide a
bias-free, stimulating and inclusive working
environment.
One of the primary aims of Deutsche Bank is to
continue to position itself as an “employer of choice”.
The goal is to recruit and retain the most talented
people. In 2010, the bank devoted special attention
to talent management, adjusting the compensation
structure and increasing the ratio of women in senior
management positions. Deutsche Bank continually
expanded its training curriculum in 2010 and
provides numerous benefits, from medical check-ups,
advice on personal issues, to support in caring for
children or family members.
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10. Society
Responsibility today
Deutsche Bank regards corporate social
responsibility (CSR) as an investment in society and
in its own future. The bank considers its topmost
social responsibility to be internationally competitive,
to earn commensurate profits, and to grow as a
company. The second priority as a good corporate
citizen is to earn money in a manner that is both
socially and ecologically responsible. The third and
most visible part of CSR is the support for socially
beneficial activities.
Commitment to society
With its educational activities, Deutsche Bank
enables talent. With its social investments, the bank
creates opportunities, with its involvement in
art & music, the bank fosters creativity. With its
commitment to sustainability, the bank ensures
long-term viability. With their corporate volunteering
activities, people at Deutsche Bank commit
themselves personally.
As a responsible corporate citizen Deutsche Bank is
committed to building social capital.
CSR investments by area of activity
2010 total of € 98.1 m.
Corporate Volunteering 4%
Social Investments 38%
Art & Music 22%
Education 36%
With a total investment of nearly € 100 million in
2010 – more than ever before – Deutsche Bank and
its foundations were again among the world’s most
active corporate citizens.
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11. Milestones
1870 Deutsche Bank is founded in Berlin – its purpose: ”to
transact banking business of all kinds, in particular to promote
and facilitate trade relations between Germany, other European
countries, and overseas markets”.
1871/72 First branches in Bremen and Hamburg, followed by
more branches in, for example, Frankfurt am Main, Munich,
Leipzig and Dresden.
1873 Opening of the first European foreign branch in London.
from 1880 Deutsche Bank begins to supply industry with loans
and capital market products. Foreign investments in North and
South America, Eastern Asia, and Turkey.
from 1914 As a result of the acquisition of several regional
banks, Deutsche Bank establishes a branch network all over
Germany.
1929 The biggest ever merger in German banking history
creates the “Deutsche Bank und Disconto-Gesellschaft”.
1937 The company name is changed back to “Deutsche Bank”.
1945 Closure of Deutsche Bank’s Berlin Head Office and of all
branches in the Soviet-occupied zone.
1947/48 In the Western zones of occupation, Deutsche Bank is
decentralized into ten regional institutions.
1952 The so-called Big Banks Act allows the amalgamation of
the ten successor institutions into three joint stock companies:
Norddeutsche Bank AG, Rheinisch-Westfälische Bank AG und
Süddeutsche Bank AG.
1957 Re-amalgamation of the three successor banks to form
Deutsche Bank AG, a joint stock corporation with its registered
office in Frankfurt am Main.
1959 Deutsche Bank enters retail banking by introducing small
personal loans.
1989 Acquisition of Morgan Grenfell Group; with this step,
Deutsche Bank strengthens its position in the international
securities business and expands its presence on the important
London capital market.
1999 Acquisition and integration of Bankers Trust in the U.S.A.;
Deutsche Bank starts expansion in Middle East and opens a
branch in Abu Dhabi (U.A.E.)
2006 Complete acquisition of the Russian investment bank
United Financial Group (UFG) and acquisition of the German
norisbank.
2007 Deutsche Bank closes the acquisition of Berliner Bank.
2010 Takeover of Postbank and Sal. Oppenheim in Germany as
well as parts of ABN AMRO in the Netherlands.
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12. A Profile in Figures
The Group at a glance 2010 2009
Basic earnings per share € 3.07 € 7.21
Diluted earnings per share € 2.92 € 6.94
Average shares outstanding, in m., basic 753 689
Average shares outstanding, in m., diluted 791 717
Return on average shareholders’ equity (post tax) 5.5% 14.6%
Pre-tax return on average shareholders’ equity 9.5% 15.3%
Pre-tax return on average active equity 9.6% 15.1%
Book value per basic share outstanding € 52.38 € 52.65
Cost / income ratio 81.6% 72.0%
Compensation ratio 44.4% 40.5%
Noncompensation ratio 37.3% 31.5%
in € m. 2010 2009
Total net revenues 28,567 27,952
Provision for credit losses 1,274 2,630
Total noninterest expenses 23,318 20,120
Income (loss) before income taxes 3,975 5,202
Net income (loss) 2,330 4,958
in € bn. Dec 31, 2010 Dec 31, 2009
Total assets 1,906 1,501
Shareholders’ equity 48.8 36.6
Core Tier 1 capital ratio 8.7% 8.7%
Tier 1 capital ratio 12.3% 12.6%
Number Dec 31, 2010 Dec 31, 2009
Branches 3,083 1,964
thereof in Germany 2,087 961
Employees (full-time equivalent) 102,062 77,053
thereof in Germany 49,265 27,321
Long-term rating Dec 31, 2010 Dec 31, 2009
Moody’s Investors Service Aa3 Aa1
Standard & Poor’s A+ A+
Fitch Ratings AA– AA–
Dates and figures as of December 31, 2010
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13. Our mission
We compete to be the leading global provider of
financial solutions, creating lasting value for our
clients, our shareholders, our people and the
communities in which we operate.
Our brand
Deutsche is clear: we are here to perform – in
business and beyond. We do this with a unique mix
of passion and precision. This measured approach
gives us the confidence to enable agile minds to look
beyond the obvious, gaining advantage for everyone
we work with.
Our values
Performance – We are committed to a result-oriented
culture.
Trust – We behave reliably, fairly and honestly.
Teamwork – We benefit from the diversity of our
business and our people by working together to
achieve success.
Innovation – We are constantly challenging
conventional wisdom and developing new solutions
to meet customer requirements.
Client Focus – We place customers at the centre of
our activities and they drive all that we do.
Our promise
Excellence. Relevant Client Solutions. Responsibility.
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14. Further information
on the Internet: www.db.com
003 72020 02 • 4/11