Business Context and Reporting Period
This Form 6-K filing by Deutsche Bank Aktiengesellschaft covers the period ending June 30, 2020, and was filed on July 29, 2020. The report incorporates by reference the Earnings Report (Exhibit 99.1) and Capitalization table (Exhibit 99.2) for the second quarter of 2020. The filing supplements the Risk Factors section of the 2019 Annual Report on Form 20-F.
Key Financial Metrics
The provided text serves as a cover document and explanatory note; it does not contain specific numerical values for revenue, profit, cash flow, margins, debt, or liquidity. The filing references the following metrics in Exhibit 99.1 but does not list their values in this text:
- Profit (loss) attributable to Deutsche Bank shareholders (IFRS and Adjusted).
- Revenues excluding specific items.
- Adjusted costs (excluding transformation charges and Prime Finance transfer expenses).
- Regulatory capital measures under CRR/CRD (Basel 3), including transitional and "fully loaded" calculations.
- Tangible shareholders' equity and book value per share.
Material Changes and Comparisons
The text does not provide specific comparative data or material changes versus the prior period. It notes that the "Risks and Opportunities" section in the incorporated Earnings Report supplements the 2019 Annual Report. The filing highlights the use of "fully loaded" regulatory measures to reflect progress against regulatory capital standards without transitional provisions, noting these may differ from competitor calculations.
Guidance, Outlook, and Risks
Forward-Looking Statements: The report contains forward-looking statements regarding intentions, beliefs, and expectations. Management explicitly states it undertakes no obligation to update these statements based on new information.
Key Risks Identified:
- Conditions in financial markets in Germany, Europe, the United States, and elsewhere affecting trading revenues.
- Potential defaults of borrowers or trading counterparties.
- Implementation of strategic initiatives.
- Reliability of risk management policies, procedures, and methods.
Non-GAAP Measures: The filing details the use of non-GAAP financial measures, including adjustments for transformation charges and the transfer of the Prime Finance business to BNP Paribas. It warns that future non-GAAP measures cannot be predicted with certainty as they depend on unknown future events.
Investor Verification Checklist
- Review Exhibit 99.1 (Earnings Report) for specific Q2 2020 revenue, profit, and cash flow figures not included in this cover text.
- Verify the specific adjustments made to calculate "Adjusted profit" and "Adjusted costs," particularly regarding transformation charges and the Prime Finance transfer.
- Examine the "fully loaded" CRR/CRD capital ratios in the Risk Report to understand the bank's capital position without transitional relief.
- Consult the 2019 Annual Report on Form 20-F (pages 13-47) for the comprehensive "Risk Factors" referenced in this filing.
- Confirm the impact of the Prime Finance business transfer to BNP Paribas on the current quarter's financial performance.