Deutsche Bank Results Presentation Deck
Commercial Real Estate (CRE) 2/2
US CRE in scope of severe stress test: € 18bn
By types
Office: € 8bn
Other
Retail
28%
5%
14%
Residential
10%
Q3 2023
43%
Deutsche Bank
Investor Relations
Office
Hospitality
Miami
Philadelphia
Boston
Other
Seattle
18%
3% 3%
5%
10%
15%
San Fran
Q3 2023
31%
16%
US office portfolio 1.5% of total loans and 23% of stress-tested
portfolio
>
~87% of office exposure in Class A properties
> Average LTVs ~71% based on latest external appraisal subject to
interim internal adjustments, reflecting prudent approach
>
€ 0.3bn exposure with final maturities in remainder of 2023
Q3 2023 results
October 25, 2023
NY
LA
US CRE loan risk management
Modified loans, in € bn
5.7
>
>
>
Q3 2022-Q3 2023
4%
CLP impact
US CRE CLPs
40
CLPs per quarter, in € m
26
35
74
Q3 Q4 Q1 Q2
2022 2022 2023 2023
/
66
Refinancing risk remains main risk when loans with lower debt service coverage ratio and reduced collateral
values reach maturity / extension dates, requiring sponsor equity contributions to qualify for refinancing
>
€ 242m of CLP on € 5.7bn of loans which were modified / restructured or went into default in last 15 months
Limited amount of loans currently expected to be modified / restructured: expected € 3bn in next 15 months
Near-term maturities pro-actively managed targeting to establish terms for prudent modifications and loan
extensions
Q3
2023
36View entire presentation