UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form
6-K
REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13a-16 OR 15d-16
UNDER THE SECURITIES EXCHANGE ACT OF 1934
For the month of April 2018
Commission File Number
1-15242
DEUTSCHE BANK CORPORATION
(Translation of Registrants Name Into English)
Deutsche Bank Aktiengesellschaft
Taunusanlage 12
60325
Frankfurt am Main
Germany
(Address of Principal Executive Office)
Indicate
by check mark whether the registrant files or will file annual reports under cover of Form
20-F
or Form
40-F:
Form
20-F ☒ Form
40-F ☐
Indicate by check
mark whether the registrant is submitting the Form
6-K
in paper as permitted by Regulation
S-T
Rule 101(b)(1): ☐
Indicate by check mark whether the registrant is submitting the Form
6-K
in paper as permitted by Regulation
S-T
Rule 101(b)(7): ☐
Explanatory note
This Report on Form
6-K
sets forth as exhibits documents published by Deutsche Bank AG on
April 19, 2018. This Report on Form
6-K
and such exhibits are hereby incorporated by reference into Registration Statements Nos.
333-206013
and
333-218897
of Deutsche Bank AG.
Exhibits
Exhibit 99.1
: Media Release, dated April 19, 2018, of Deutsche Bank AG regarding publication of its IFRS 9 Transition Report, relating to its adoption
of IFRS 9, and its Financial Data Supplement, based on Q1 2018 segmental reporting and financial statements structure.
Exhibit 99.2
: IFRS 9
Transition Report of Deutsche Bank AG.
Exhibit 99.3
: Additional Information on Impact of Adoption of IFRS 9 on Regulation Capital, RWA, and
Leverage Exposure (on a phase-in basis).
Exhibit 99.4
: Financial Data Supplement, Based on Q1 2018 Segmental Reporting and Financial Statements
Structure.
Forward-looking statements contain risks
This report contains forward-looking statements. Forward-looking statements are statements that are not historical facts; they include
statements about our beliefs and expectations. Any statement in this report that states our intentions, beliefs, expectations or predictions (and the assumptions underlying them) is a forward-looking statement. These statements are based on plans,
estimates and projections as they are currently available to the management of Deutsche Bank. Forward-looking statements therefore speak only as of the date they are made, and we undertake no obligation to update publicly any of them in light of new
information or future events.
By their very nature, forward-looking statements involve risks and uncertainties. A number of important
factors could therefore cause actual results to differ materially from those contained in any forward-looking statement. Such factors include the conditions in the financial markets in Germany, in Europe, in the United States and elsewhere from
which we derive a substantial portion of our trading revenues, potential defaults of borrowers or trading counterparties, the implementation of our strategic initiatives, the reliability of our risk management policies, procedures and methods, and
other risks referenced in our filings with the U.S. Securities and Exchange Commission. Such factors are described in detail in our 2017 Annual Report on Form
20-F,
which was filed with the SEC on
March 16, 2018, on pages 13 through 40 under the heading Risk Factors. Copies of this document are readily available upon request or can be downloaded from
www.deutsche-bank.com/ir
.
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Use of
Non-GAAP
Financial Measures
This report and other documents we have published or may publish contain
non-GAAP
financial measures.
Non-GAAP
financial measures are measures of our historical or future performance, financial position or cash flows that contain adjustments that exclude or include amounts that are included or excluded, as the case
may be, from the most directly comparable measure calculated and presented in accordance with IFRS in our financial statements. Examples of our
non-GAAP
financial measures, and the most directly comparable
IFRS financial measures, are as follows:
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Non-GAAP
Financial Measure
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Most Directly Comparable IFRS Financial Measure
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Net income attributable to Deutsche Bank shareholders
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Net income
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Adjusted costs
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Noninterest expenses
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Tangible shareholders equity, Average tangible shareholders equity, Tangible book value, Average
tangible book value
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Total shareholders equity (book value)
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Post-tax
return on average shareholders equity (based on Net
income attributable to Deutsche Bank shareholders)
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Post-tax
return on average shareholders equity
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Post-tax
return on average tangible shareholders equity
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Post-tax
return on average shareholders equity
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Tangible book value per basic share outstanding, Book value per basic share outstanding
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Book value per share outstanding
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For descriptions of these
non-GAAP
financial measures and the
adjustments made to the most directly comparable financial measures under IFRS, please refer to Supplementary Information:
Non-GAAP
Financial Measures on pages 378 through 382 of our 2017
Annual Report (which Annual Report 2017 constitutes a part of our 2017 Annual Report on Form
20-F).
When used with respect to future periods, our
non-GAAP
financial measures are also forward-looking
statements. We cannot predict or quantify the levels of the most directly comparable financial measures under IFRS that would correspond to these measures for future periods. This is because neither the magnitude of such IFRS financial measures, nor
the magnitude of the adjustments to be used to calculate the related
non-GAAP
financial measures from such IFRS financial measures, can be predicted. Such adjustments, if any, will relate to specific,
currently unknown, events and in most cases can be positive or negative, so that it is not possible to predict whether, for a future period, the
non-GAAP
financial measure will be greater than or less than the
related IFRS financial measure.
CRR/CRD 4 Solvency Measures
Since January 1, 2014, our regulatory assets, exposures, risk-weighted assets, capital and ratios thereof are calculated for regulatory
purposes under the regulation on prudential requirements for credit institutions and investment firms (CRR) and the Capital
3
Requirements Directive 4 (CRD 4) implementing Basel 3, which were published on June 27, 2013. CRR/CRD 4 provides for transitional (or
phase-in)
rules, under which capital instruments that are no longer eligible under the new rules are permitted to be phased out as the new rules on regulatory adjustments are phased in, as well as
regarding the risk weighting of certain categories of assets. Unless otherwise noted, our CRR/CRD 4 solvency measures set forth in this report reflect these transitional rules.
We also set forth in this report and other documents such CRR/CRD 4 measures on a fully loaded basis, reflecting full
application of the final CRR/CRD 4 framework without consideration of the transitional provisions under CRR/CRD 4, except with respect to a limited set of equity investments for 2016 and 2015.
For descriptions of these fully loaded CRR/CRD 4 measures and the differences from the most directly comparable measures under the
CRR/CRD 4 transitional rules, please refer to Management Report: Risk Report: Risk and Capital Performance: Capital and Leverage Ratio on pages 82 through 95 of our Annual Report 2017 (which Annual Report 2017 constitutes a
part of our 2017 Annual Report on Form
20-F),
in particular in the subsections thereof entitled Development of regulatory capital, Development of risk-weighted assets and Leverage
Ratio, and, with respect to the effect of the grandfathering rule on our fully loaded CRR/CRD 4 measures, to Supplementary Information:
Non-GAAP
Financial Measures: Fully loaded CRR/CRD 4
Measures on pages 381 and 382 of our Annual Report 2017.
As the final implementation of CRR/CRD 4 may differ from our
expectations, and our competitors assumptions and estimates regarding such implementation may vary, our fully loaded CRR/CRD 4 measures may not be comparable with similarly labeled measures used by our competitors. We believe that these
fully loaded CRR/CRD 4 calculations provide useful information to investors as they reflect our progress against the new regulatory capital standards and as many of our competitors have been describing CRR/CRD 4 calculations on a
fully loaded basis.
When used with respect to future periods, our fully loaded CRR/CRD 4 measures are also forward-looking
statements. We cannot predict or quantify the levels of the most directly comparable transitional CRR/CRD 4 measures that would correspond to these fully loaded CRR/CRD 4 measures for future periods. In managing our business with the aim of
achieving targets based on fully loaded CRR/CRD 4 measures, the relation between the fully loaded and transitional measures will depend upon, among other things, management action taken in light of future business, economic and other conditions.
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Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly
caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
D
EUTSCHE
B
ANK
A
KTIENGESELLSCHAFT
Date: April 20, 2018
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By:
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/s/ Serdar Oezkan
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Name:
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Serdar Oezkan
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Title:
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Managing Director
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By:
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/s/ Joseph C. Kopec
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Name:
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Joseph C. Kopec
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Title:
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Managing Director and Senior Counsel
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