Tier 2 Deutsche Bank

Asset Quality Opacity

• [UNVERIFIED] The bad bank assets (€288 billion stated transfer value) likely represent significantly higher face value ($400-500 billion or more) given that assets were correctly valued at time of transfer, and the bank did not provide a comprehensive breakdown of specific assets or how much had been sold since 2019.

  this 335 billion could represent what people 400500 billion worth of face value more… they don’t give you any comprehensive breakdown of the specific assets

  • Correction: To verify: Review Deutsche Bank’s 2019-2024 annual reports and interim disclosures for bad bank asset breakdown; compare stated transfer values against actual realized losses and remaining portfolio values.

Current Financial Position

• [UNVERIFIED] Deutsche Bank’s current market capitalization stands at approximately €69.475 billion, representing tangible equity, though the stock historically traded between €15-20, averaging approximately €34-35 billion for most of the period.

  market cap at the right top right hand 69.475 billion… for most of the time, not all the time, average out was around 3435 billion

  • Correction: To verify: Check current market cap on Bloomberg/Yahoo Finance, retrieve historical price data from 2015-2024 from market data sources.

Profitability Targets

• [UNVERIFIED] Deutsche Bank set a new profitability target of 12-13% return on equity and a cost-to-income ratio below 60 cents (currently 65 cents), below European peers BBBA and UniCredit which maintain tangible equity ratios of 20% or more.

  they set a new profitability target at 12 to 13% and cut their cost below 60 cents. It’s 65 cents, but they’re still below their peers, European peers, BBBA or unit credit, which have a tangible equity of 20% or more

  • Correction: To verify: Retrieve Deutsche Bank investor day presentations (2023-2024), compare cost-to-income ratios from annual reports of Deutsche Bank, BBVA, and UniCredit.