February Edition

Hello from Frankfurt,??

What a start to 2025! Our teams across the world hit the ground running, closing a flurry of deals for our clients, reaching new and improved rankings and stepping up their efforts to support local communities.

January also saw us announce our financial results for 2024. We delivered another year of revenue and business growth and will continue to build on that to deliver our 2025 targets.?

Round this off with a couple of special anniversaries and insights into the economics of biodiversity loss, and it’s fair to say that this month’s newsletter is a bumper edition. Who said January was a slow month??

So, let’s check out our top moments from the month that was – happy reading!?

Top company news?

Strong operating performance and returns for shareholders?

Our Annual Media Conference – where we announce our financial results for the previous year – took place on 30 January. A key event in the Deutsche Bank calendar, it’s when our CEO Christian Sewing and CFO James von Moltke present the latest figures and future outlook for the bank, and answer questions from journalists. ?

2024 was a year of solid growth and strategic investments for the bank. Our net revenues went up 4% year on year to 30.1 billion euros. We achieved a profit before tax of 5.3 billion euros and were able to announce plans to distribute 2.1 billion euros to our shareholders in 2025. This includes proposed dividends of 68 cents per share and share repurchases of 750 million euros so far, a reflection of the confidence we have regarding our future path. This positive momentum allows us to deliver attractive returns to our shareholders while maintaining a robust capital position with a Common Equity Tier 1 ratio of 13.8%.??

Christian spoke about the bank's successful turnaround in recent years and his thoughts on DB 3.0, or the next steps for the bank. James emphasised the bank's focus on operational efficiency and increasing returns for shareholders.? ?

Didn’t catch the livestream? Find the replay here.?

Or read more in the media release.?

Top anniversary??

40 years of a Frankfurt landmark?

We regularly mark anniversaries of our global locations here in Top of Deutsche Bank. But last month, we celebrated a rather special one as our headquarters – the Deutsche Bank Towers in Frankfurt – turned 40! Officially opened on 23 January 1985, the towers were built to address the bank’s growing needs in Frankfurt, where our headquarters have been located since 1957. At 155 metres tall, they are a fixture of the Frankfurt skyline and have become a symbol of the city’s status as a financial hub. Their structure incorporates innovative design concepts and urban planning considerations, such as maintaining the flow of fresh air into the city.??

Nicknamed "Soll und Haben" ("Debit and Credit"), the towers have also evolved to meet modern demands. A major renovation from 2008 to 2010 transformed them into the award-winning "green towers", reducing water and energy consumption.?

The building continues to be adapted to the changing needs of customers and employees, including new office concepts to support hybrid working. We also recently renovated the retail bank branch at the foot of the towers to create one of the largest and most modern bank branches in Germany.?

Top business stories

Starting 2025 with a two-deal bang?

Our Deutsche Bank Investment Bank started the year on the right track with two bond issuances for the automotive and mobility sector.??

First, we acted as Lead Underwriter for Mercedes-Benz AG 's third Panda bond issuance, which totalled 2 billion renminbi (approximately 270 million euros). Panda bonds are issued by foreign entities in mainland China, allowing them to tap into the renminbi bond market. It was our third time supporting Mercedes-Benz in raising funds in China, underscoring the demand for these bonds from on- and offshore investors.??

Staying on the theme of transport, we were also pleased to support leading mobility provider SIXT with its issuance of a 500-million-euro bond – a deal that attracted strong international demand and will help fuel SIXT's future growth. ?

Both transactions are great examples of how we connect issuers with investors seeking opportunities across diverse markets and sectors.?

Helping Dimension Energy invest in communities?

Let’s head across the Pacific now to the United States, where we’re happy to be supporting Dimension Energy in bringing affordable and sustainable energy solutions to communities across the country.??

A leading community solar and battery storage company, Dimension Energy will make use of a corporate credit facility of 150 million US dollars to support its plan to invest 3 billion US dollars over the next five years and to further the deployment of its 2-gigawatt community solar pipeline.? ?

Community solar projects can provide power to people unable to put solar power systems on their own homes or apartments.?This deal is Deutsche Bank's first ever development-stage financing in community solar, highlighting our commitment to supporting the growth of renewable energy.

Learn more about the deal here.?

Back of the net! Deutsche Bank advises on the sale of Hellas Verona FC to Presidio Investors?

From solar panels to something quite different – football. ?

January saw the sale of Hellas Verona FC to Presidio Investors , a Texan private equity fund. The team from our Private Bank Corporate Advisory division advised outgoing owner Maurizio Setti's Star Ball throughout the transaction, in line with our goal to provide top-tier advisory services and act as a strategic partner for companies and entrepreneurs.?

Read the media release here.?

Top ranking?

Deutsche Bank tops SSA league table for 2024?

While we're already looking ahead to what 2025 has in store, January also brought good news about our achievements in 2024. We were thrilled to learn that we had captured the top spot in data provider Bond Radar Ltd ’s 2024 sovereign league table and ranked second in its combined supranational, agency, and regions table.??

The transactions we arranged raised more than 73 billion euros from 189 bond issues, securing a market share of 7.55%.?

This ranking reflects the dedication and expertise of our teams, who navigated a challenging year to advise multilateral development banks, agencies, and regions on emerging opportunities and strategic transactions.?

Top ESG performer?

Deutsche Bank earns spot on Dow Jones Sustainability Indices?

Deutsche Bank has returned to the S&P Dow Jones Indices Sustainability Index (DJSI) World and DJSI Europe – a reflection of our recent efforts in sustainability.?

Being recognised as one of the top Environmental, Social, and Governance (ESG) performers in the latest S&P Corporate Sustainability Assessment underscores our commitment to ESG and sustainable business practices. ? ?

The DJSI World comprises the top 10 percent of ESG performers of the 2,500 largest companies, while the DJSI Europe captures the top 20 percent of ESG performers of the 600 largest European companies.??

Read more here.?

Top of thought leadership??

Economic solutions to biodiversity loss?

Species are dying out and ecosystems are breaking down at an alarming rate, posing a significant threat to the global economy. A staggering 44 trillion US dollars - over half of global GDP - depend on the health of our planet's ecosystems. According to experts, business as usual is no longer an option.??

Our economies often fail to account for the true value of nature. Resources like trees are valued for their raw materials but not for their broader ecological benefits. This market failure results in unsustainable practices and increases business risks, explains Markus H.-P. Müller , our Chief Investment Officer Sustainability.?

The 2022 UN Biodiversity Conference in Montreal highlighted the urgent need for action, setting ambitious goals for 2030, including protecting 30% of land and oceans and securing 200 billion US dollars annually for biodiversity conservation. Achieving these goals requires a collaborative effort, with the private sector - particularly financial institutions - playing a crucial role.?

Viktoriya Brand , our Head of Group Sustainability, says that it's not enough to just increase the money behind these efforts; we need to fundamentally change the way we approach nature. This includes pricing the value of ecosystems into financial decisions and promoting sustainable practices across all sectors.?

Read about how banks can contribute to the fight against biodiversity loss in the full interview on: #dbWhatNext?

Or take 99 seconds to listen to Markus explain why nature matters when making business decisions.??

Top celebration??

Celebrating 100 years of Deutsche Bank in Southwest Germany

Baden-Württemberg in Germany’s southwest corner is home to global powerhouses, like Daimler and Bosch, and to many thriving small and medium-sized entreprises. And this year marks a century of Deutsche Bank’s close ties with the region’s economic success.? ?

Our story in the region began in 1924 with the acquisition of Württembergische Vereinsbank in Stuttgart, strengthening our presence in this part of Germany and enabling us to support its key industries as they evolved. Since then, we've played a vital role in the region's economic development, consistently championing growth.? ?

To celebrate 100 years of Deutsche Bank in southwest Germany, we welcomed around 600 clients, employees and members of our leadership team to a New Year's reception in Stuttgart last month. Here’s to the next 100 years!?

Top CSR project?

Every step counts? ?

Over 5,300 colleagues across Asia Pacific stepped up efforts to raise funds for local community projects by taking part in our PlusMySteps Challenge. Staff set themselves targets, with the bank committing to donate a certain amount if they reached them.?Together, they logged 450 million steps, supporting reforestation efforts, sustainable farming projects and youth development programmes in China, Japan, India, and Australia.??

In India alone, our team logged 247 million steps in just 10 days. The funds raised will help plant 15,000 fruit-bearing trees, creating a source of sustainable income for over 700 farming families.??

Find out how many steps each team racked up here.?

Top people story?

From IT expert to award-winning wildlife photographer?

Say hello to our colleague Vikas. When he’s not working as a Solutions Architect in Legal IT in our Pune office, Vikas is an award-winning wildlife photographer whose stunning photos have been featured in exhibitions and publications nationwide.??

Vikas' passion for wildlife began in college and led him to volunteer with non-governmental organisations (NGOs), where he ran nature camps and even taught others how to identify different snakes so they could stay safe. His work editing an NGO’s newsletter exposed him to the creative world of wildlife photography and filmmaking.?

That experience left its mark on Vikas, and in parallel to pursuing a career in IT, he started documenting the wildlife he encountered on his travels across India’s diverse landscapes. The beauty of nature shines through in his award-winning photos, which include a rare red panda from the Indian state of Sikkim and a majestic elephant from the country’s Corbett National Park.?

"Wildlife photography is meditative – you go into a mindful state, forget everything and become part of the wilderness," says Vikas.?

Top links? ?

• Annual Media Conference 2025?

• TikTok: Happy Birthday Deutsche Bank Towers?

• Podzept – Podcast by Deutsche Bank Research which addresses the current issues driving the world of economics and finance??

• Perspectives: Annual outlook 2025 - Deeply invested in growth?

• What Next Dossier #17: Why protecting biodiversity is crucial for our future??

We'll be back with more insights and stories in the next edition of our newsletter!

This is Top of Deutsche Bank – the newsletter bringing you the latest developments, ideas and stories from the world of banking and finance.