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    Máté Nemes • UBS

    Máté Nemes's questions to Deutsche Bank AG (DB) leadership

    Máté Nemes's questions to Deutsche Bank AG (DB) leadership • Q2 2025

    Question

    Mate Nemes of UBS Group AG inquired about the reasons for the slight downgrade in the Corporate Bank's full-year 2025 revenue outlook. He also asked about the capital consumption implications for the Corporate Bank arising from the opportunities driven by Germany's fiscal stimulus.

    Answer

    CFO James von Moltke explained the Corporate Bank's revenue outlook was lowered due to FX headwinds and some pressure on net interest income from deposit margins and slower loan growth than initially expected, though fee income remains strong. He stated that while stimulus-driven loan growth will consume capital, the bank is well-equipped to support it and will use securitization and other measures to manage balance sheet velocity, avoiding capital constraints.

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    Máté Nemes's questions to Deutsche Bank AG (DB) leadership • Q1 2025

    Question

    Máté Nemes from UBS asked for more examples of Shareholder Value Add (SVA) opportunities, the outlook for banking book NII in 2025, and the potential for further RWA reductions for the remainder of the year.

    Answer

    CEO Christian Sewing detailed the SVA strategy, which includes repricing, improving process efficiency, and exiting sub-par portfolios, calling it a key lever to boost RoTE. CFO James von Moltke confirmed the banking book NII guidance is consistent with the start of the year. On RWAs, he expects to achieve the EUR 30 billion reduction target for 2025, with potential to slightly exceed it through further securitizations.

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