Investor Presentaiton
Continued accelerated execution with material progress on
capital efficiency
Revenue growth
3.5-4.5%
Revenue CAGR 2021-2025 targeted
Efficiency measures
€ 2.5bn
Operational efficiencies targeted
Capital efficiency
€ 25-30bn²
RWA reductions targeted
>
>
6.9% revenue CAGR¹ delivered in 9M
2023 LTM vs. FY 2021
Significant progress executing
investments in fee-generating businesses,
including O&A and WM senior banker
hires and the Numis acquisition
Future revenue growth further supported
> by net inflows and momentum in fees and
commissions
Adjusted costs kept essentially flat vs.
prior quarter despite absorbing
inflationary pressures and investments
into growth and controls
Key initiatives delivering in line with or
ahead of plan including optimization of
> retail branch network, streamlining of
front-to-back processes and headcount
management
Additional measures further progressing,
> reaffirming € 2.5bn operational efficiency
target
€ 10bn of targeted RWA reductions
already achieved by Q3 through
optimization initiatives
Continued progress in identifying further
measures, including optimized hedging
and reduction of sub-hurdle lending
Original target of € 15-20bn RWA
> reduction increased by € 10bn given
current progress and achievements
Notes: for footnotes refer to slides 44 and 45
Deutsche Bank
Investor Relations
Q3 2023 results
October 25, 2023
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