Deutsche Bank Aktiengesellschaft (DB): Business Model Canvas

In der dynamischen Landschaft des globalen Finanzwesens erweist sich die Deutsche Bank Aktiengesellschaft als zentraler Akteur, der ein komplexes Geschäftsmodell entwickelt, das über traditionelle Bankparadigmen hinausgeht. Durch die strategische Integration modernster digitaler Technologien, umfassender Finanzdienstleistungen und eines robusten globalen Netzwerks hat die Deutsche Bank einen anspruchsvollen Ansatz entwickelt, der auf die komplexen Bedürfnisse von Großkonzernen, vermögenden Privatpersonen und Unternehmen aus Schwellenländern eingeht. Dieses Business Model Canvas dekonstruiert den innovativen Rahmen der Bank und zeigt, wie sie die komplexen Schnittstellen von Technologie, Kundenbeziehungen und Finanzexpertise bewältigt, um in einem zunehmend wettbewerbsintensiven Finanzökosystem einen beispiellosen Mehrwert zu bieten.

Deutsche Bank Aktiengesellschaft (DB) - Geschäftsmodell: Wichtige Partnerschaften

Strategische Allianzen mit globalen Finanztechnologieunternehmen

Die Deutsche Bank hat strategische Technologiepartnerschaften mit folgenden Schlüsselunternehmen geschlossen:

Technologiepartner	Partnerschaftsfokus	Jahr eingeleitet
SAP	Cloudbasierte Finanzinfrastruktur	2019
Microsoft Azure	Cloud Computing und KI-Integration	2020
Salesforce	Kundenbeziehungsmanagement	2018

Zusammenarbeit mit internationalen Investmentbanken

Das Investmentbanking-Kooperationsnetzwerk der Deutschen Bank umfasst:

• Goldman Sachs – Gemeinsame Kapitalmarkttransaktionen
• JPMorgan Chase – Grenzüberschreitende Anlagestrategien
• Morgan Stanley – Dienstleistungen für institutionelle Kunden

Partnerschaften mit Technologieanbietern zur Einhaltung gesetzlicher Vorschriften

Compliance-Partner	Technologielösung	Jährliche Investition
Nasdaq	Regulatorische Meldesysteme	42 Millionen Euro
IBM	Technologien zur Bekämpfung der Geldwäsche	35 Millionen Euro

Joint Ventures im Bereich Finanzdienstleistungen in Schwellenländern

Zu den Schwellenländerpartnerschaften der Deutschen Bank gehören:

• China Construction Bank – Strategische Allianz auf dem chinesischen Markt
• Credicorp (Peru) – Firmenkundendienstleistungen
• Standard Bank Group (Südafrika) – Grenzüberschreitende Finanzlösungen

Ökosystempartnerschaften mit digitalen Zahlungsplattformen

Zahlungsplattform	Integrationsdienste	Transaktionsvolumen
Apple Pay	Integration mobiler Zahlungen	2,3 Milliarden Euro (2023)
Google Pay	Digitale Geldbörsendienste	1,7 Milliarden Euro (2023)
PayPal	Grenzüberschreitende Zahlungslösungen	1,5 Milliarden Euro (2023)

Deutsche Bank Aktiengesellschaft (DB) - Geschäftsmodell: Kernaktivitäten

Unternehmens- und Investmentbanking-Dienstleistungen

Der Unternehmens- und Investmentbanking-Bereich der Deutschen Bank erwirtschaftete im Jahr 2023 einen Umsatz von 8,4 Milliarden Euro. Zu den wichtigsten Aktivitäten gehören:

• Schulden- und Eigenkapital-Underwriting
• Beratung bei Fusionen und Übernahmen
• Kapitalmarktfinanzierung

Servicekategorie	Umsatz (2023)	Marktanteil
Schuldenübernahme	3,2 Milliarden Euro	7.5%
Aktien-Underwriting	1,8 Milliarden Euro	5.9%
M&A-Beratung	2,4 Milliarden Euro	6.3%

Vermögensverwaltung und Vermögensverwaltung

Das Segment Vermögensverwaltung meldete für 2023 einen Umsatz von 4,1 Milliarden Euro.

• Private Vermögensverwaltung
• Vermögensverwaltungsdienstleistungen
• Anlageberatung

Kennzahlen zur Vermögensverwaltung	Wert 2023
Gesamtes verwaltetes Vermögen	782 Milliarden Euro
Anzahl der Wealth-Management-Kunden	1,3 Millionen

Globales Transaktionsbanking

Das globale Transaktionsbanking erwirtschaftete im Jahr 2023 einen Umsatz von 3,6 Milliarden Euro.

• Cash-Management
• Handelsfinanzierung
• Wertpapierdienstleistungen

Transaktionsbankdienstleistungen	Transaktionsvolumen	Einnahmen
Cash-Management	1,7 Billionen Euro	1,5 Milliarden Euro
Handelsfinanzierung	482 Milliarden Euro	1,1 Milliarden Euro

Transformation und Innovation im digitalen Bankwesen

Im Jahr 2023 investierte die Deutsche Bank 1,2 Milliarden Euro in Initiativen zur digitalen Transformation.

• Digitale Banking-Plattformen
• Integration von KI und maschinellem Lernen
• Verbesserungen der Cybersicherheit

Risikomanagement und Finanzberatung

Die Abteilung Risikomanagement stellte im Jahr 2023 2,5 Milliarden Euro für Compliance und Risikominderung bereit.

• Einhaltung gesetzlicher Vorschriften
• Kreditrisikomanagement
• Marktrisikobewertung

Risikomanagement-Kennzahlen	Wert 2023
Compliance-Budget	2,5 Milliarden Euro
Investitionen zur Risikominderung	1,3 Milliarden Euro

Deutsche Bank Aktiengesellschaft (DB) - Geschäftsmodell: Schlüsselressourcen

Umfangreiches globales Finanznetzwerk und Infrastruktur

Die Deutsche Bank ist im Jahr 2023 in 58 Ländern weltweit mit 1.959 Filialen und Büros tätig. Die Gesamtinvestitionen in die physische Infrastruktur belaufen sich auf 3,4 Milliarden Euro.

Geografische Präsenz	Anzahl der Standorte
Gesamtzahl der Länder	58
Gesamtzahl der Filialen/Büros	1,959
Infrastrukturinvestitionen	3,4 Milliarden Euro

Fortschrittliche digitale Banking-Technologieplattformen

Die Deutsche Bank hat im Jahr 2023 1,2 Milliarden Euro in die digitale Transformation und die technologische Infrastruktur investiert.

• Digitale Banking-Plattformen: 5 Kerntechnologiesysteme
• Jährliches Technologie-F&E-Budget: 752 Millionen Euro
• Investition in Cybersicherheit: 286 Millionen Euro

Hochqualifizierte Finanzexperten und Analysten

Mitarbeiterkategorie	Nummer
Gesamtzahl der Mitarbeiter	85,126
Inhaber fortgeschrittener Abschlüsse	62 % der Belegschaft
Globaler Talentpool	40 Nationalitäten vertreten

Starke Kapitalreserven und finanzielle Stabilität

Finanzreserven und Kapitalkennzahlen der Deutschen Bank zum vierten Quartal 2023:

• Common-Equity-Tier-1-Quote (CET1): 13,7 %
• Gesamtkapitalrücklage: 68,3 Milliarden Euro
• Liquiditätsdeckungsquote: 146 %

Umfassende Datenanalysefunktionen

Datenanalyse-Metriken	Zahlen
Jährliche Investition in Datenanalyse	412 Millionen Euro
KI und maschinelle Lernsysteme	37 aktive Plattformen
Datenverarbeitungskapazität	2,6 Petabyte pro Tag

Deutsche Bank Aktiengesellschaft (DB) - Geschäftsmodell: Wertversprechen

Integrierte Finanzlösungen für Firmen- und Privatkunden

Die Deutsche Bank meldete im Jahr 2023 einen Gesamtumsatz von 26,4 Milliarden Euro. Das Segment Firmenkunden erwirtschaftete einen Umsatz von 10,2 Milliarden Euro. Der Investmentbanking-Bereich steuerte 7,8 Milliarden Euro bei.

Kundensegment	Umsatz (Milliarden €)	Marktanteil
Firmenkunden	10.2	18.5%
Einzelne Kunden	6.5	12.3%

Fortgeschrittene digitale Banking-Erfahrung

Das digitale Transaktionsvolumen erreichte im Jahr 2023 487 Millionen. Die Zahl der Mobile-Banking-Nutzer stieg auf 14,6 Millionen. Online-Banking-Plattformen verarbeiteten Transaktionen im Wert von 215 Milliarden Euro.

• Downloads von Mobile-Banking-Apps: 3,2 Millionen
• Digitale Zahlungstransaktionen: 287 Millionen
• Verfügbarkeit der digitalen Banking-Plattform: 99,98 %

Umfassende globale Finanzdienstleistungen

Die Deutsche Bank ist in 58 Ländern mit 85.000 Mitarbeitern tätig. Der weltweite Umsatz im Transaktionsbanking erreichte im Jahr 2023 4,6 Milliarden Euro.

Region	Umsatz (Milliarden €)	Kundenstamm
Europa	15.7	2,3 Millionen
Amerika	6.9	1,1 Millionen
Asien-Pazifik	4.2	0,7 Millionen

Personalisierte Vermögensverwaltungsstrategien

Das Segment Private Wealth Management erzielte einen Umsatz von 3,8 Milliarden Euro. Durchschnittliche Portfoliogröße: 2,4 Millionen Euro pro Kunde.

• Vermögende Kunden: 45.000
• Durchschnittliche jährliche Rendite: 6,7 %
• Personalisierte Anlagestrategien: 92 % Kundenzufriedenheit

Nachhaltige und ethische Anlagemöglichkeiten

Nachhaltiges Anlageportfolio im Wert von 47,5 Milliarden Euro. ESG-fokussierte Investitionen stiegen im Jahr 2023 um 22 %.

Anlagekategorie	Wert (Milliarden €)	Wachstumsrate
Grüne Anleihen	12.3	18%
Nachhaltige Aktienfonds	22.7	25%
Impact Investing	12.5	15%

Deutsche Bank Aktiengesellschaft (DB) - Geschäftsmodell: Kundenbeziehungen

Dedizierte Relationship-Management-Teams

Die Deutsche Bank betreibt im vierten Quartal 2023 weltweit 1.536 Kundenbetreuer. Die Bank betreut rund 18 Millionen Privat- und Firmenkunden in 58 Ländern.

Kundensegment	Beziehungsmanager	Durchschnittliche Portfoliogröße
Firmenkundengeschäft	687	425 Millionen Euro pro Manager
Private Banking	459	215 Millionen Euro pro Manager
Privatkundengeschäft	390	85 Millionen Euro pro Manager

Digitale Self-Service-Plattformen

Die digitalen Plattformen der Deutschen Bank verzeichneten im Jahr 2023 9,2 Millionen aktive digitale Nutzer, wobei 76 % der Kundeninteraktionen über digitale Kanäle stattfanden.

• Downloads von Mobile-Banking-Apps: 3,4 Millionen
• Aktive Online-Banking-Nutzer: 6,8 Millionen
• Digitales Transaktionsvolumen: 287 Milliarden Euro

Personalisierte Finanzberatung

Im Jahr 2023 investierte die Bank 124 Millionen Euro in personalisierte Finanzberatungsdienstleistungen und bot maßgeschneiderte Anlagestrategien für vermögende Privatkunden.

Beratungsdienst	Durchschnittliche Kundeninvestition	Jahresumsatz
Vermögensverwaltung	2,3 Millionen Euro	876 Millionen Euro
Ruhestandsplanung	€675,000	342 Millionen Euro

Multi-Channel-Kommunikationsstrategien

Die Deutsche Bank nutzt fünf primäre Kommunikationskanäle mit einem integrierten Ansatz:

• Telefonsupport: 2,1 Millionen Kundeninteraktionen monatlich
• E-Mail-Kommunikation: 3,7 Millionen monatliche Austausche
• Live-Chat: 890.000 monatliche Interaktionen
• Engagement in sozialen Medien: 1,2 Millionen Follower
• Branchenkonsultationen: 425.000 monatliche persönliche Treffen

Kontinuierliche Kundenbindung und -unterstützung

Die Bank unterhält eine 92 % Kundenbindungsrate Durch kontinuierliche Engagement-Strategien investieren wir im Jahr 2023 215 Millionen Euro in die Verbesserung des Kundenerlebnisses.

Engagement-Metrik	Jährliche Leistung
Kundenzufriedenheitswert	8.7/10
Investition in die Kundenbindung	215 Millionen Euro
Jährliche Kundenkontaktpunkte	62,4 Millionen

Deutsche Bank Aktiengesellschaft (DB) - Geschäftsmodell: Kanäle

Online-Banking-Plattformen

Die Online-Banking-Plattform der Deutschen Bank bedient ab 2023 13,4 Millionen Digital-Banking-Kunden. Die Plattform verarbeitet jährlich etwa 2,7 Milliarden digitale Transaktionen mit einer Verfügbarkeitszuverlässigkeit von 99,7 %.

Digital-Banking-Metrik	Statistik 2023
Gesamtzahl der Digital-Banking-Nutzer	13,4 Millionen
Jährliche digitale Transaktionen	2,7 Milliarden
Plattformverfügbarkeit	99.7%

Mobile-Banking-Anwendungen

Die mobile Anwendung der Deutschen Bank unterstützt 8,6 Millionen aktive Benutzer auf iOS- und Android-Plattformen. Die App ermöglicht 1,5 Milliarden mobile Transaktionen pro Jahr mit einer Benutzerzufriedenheitsbewertung von 4,3/5.

• Gesamtzahl der mobilen App-Nutzer: 8,6 Millionen
• Jährliche mobile Transaktionen: 1,5 Milliarden
• Benutzerzufriedenheit der mobilen App: 4,3/5

Physisches Filialnetz

Die Deutsche Bank unterhält ab 2023 1.721 physische Filialen in 58 Ländern. Das Filialnetz betreut rund 17,9 Millionen Privat- und Firmenkunden.

Details zum Filialnetz	Statistik 2023
Gesamtzahl der physischen Zweige	1,721
Länder mit Niederlassungspräsenz	58
Insgesamt betreute Kunden	17,9 Millionen

Telefon-Banking-Dienste

Das Telefon-Banking-Center der Deutschen Bank wickelt monatlich 6,2 Millionen Kundeninteraktionen ab, mit einer durchschnittlichen Reaktionszeit von 2,7 Minuten und einer Kundenzufriedenheitsrate von 92 %.

Digitale Finanzberatungsschnittstellen

Die digitale Finanzberatungsplattform der Bank bedient 3,8 Millionen Nutzer und bietet personalisierte Anlageempfehlungen durch KI-gesteuerte Algorithmen mit einer Nutzer-Engagement-Rate von 76 %.

Kennzahlen der digitalen Beratungsplattform	Statistik 2023
Gesamtzahl der Digital Advisory-Benutzer	3,8 Millionen
Benutzer-Engagement-Rate	76%

Deutsche Bank Aktiengesellschaft (DB) - Geschäftsmodell: Kundensegmente

Firmenkunden und institutionelle Kunden

Ab 2024 betreut die Deutsche Bank weltweit 15.000 Firmen- und institutionelle Kunden. Gesamtertrag im Firmenkundengeschäft: 8,3 Milliarden Euro.

Clienttyp	Jahresumsatz	Anzahl der Kunden
Multinationale Unternehmen	4,7 Milliarden Euro	3,200
Finanzinstitute	2,1 Milliarden Euro	5,600
Regierungsstellen	1,5 Milliarden Euro	1,200

Vermögende Privatpersonen

Die Deutsche Bank verwaltet 245 Milliarden Euro Privatvermögen für vermögende Kunden.

• Durchschnittlicher Wert des Kundenportfolios: 12,5 Millionen Euro
• Gesamtzahl der vermögenden Kunden: 19.600
• Geografische Verteilung: 40 % Europa, 35 % Amerika, 25 % Asien-Pazifik

Kleine und mittlere Unternehmen

Die Deutsche Bank unterstützt marktübergreifend 85.000 kleine und mittlere Unternehmen (KMU).

KMU-Segment	Gesamtkreditvergabe	Durchschnittliche Kredithöhe
KMU im verarbeitenden Gewerbe	17,6 Milliarden Euro	1,2 Millionen Euro
Technologie-KMU	12,3 Milliarden Euro	€890,000
KMU im Dienstleistungssektor	9,8 Milliarden Euro	€650,000

Privatkunden

Im Jahr 2024 betreut die Deutsche Bank 16,4 Millionen Privatkunden.

• Digital-Banking-Nutzer: 9,2 Millionen
• Mobile-Banking-Nutzer: 6,8 Millionen
• Durchschnittlicher Kontostand: 45.600 €

Internationale Unternehmensinvestoren

Die Deutsche Bank verwaltet 672 Milliarden Euro an internationalen Unternehmensinvestitionen.

Investitionsregion	Vermögenswert	Anzahl der Unternehmensinvestoren
Europa	312 Milliarden Euro	2,800
Nordamerika	224 Milliarden Euro	1,950
Asien-Pazifik	136 Milliarden Euro	1,350

Deutsche Bank Aktiengesellschaft (DB) - Geschäftsmodell: Kostenstruktur

Investitionen in die Technologieinfrastruktur

Im Jahr 2023 stellte die Deutsche Bank 1,6 Milliarden Euro für Investitionen in Technologie und digitale Infrastruktur bereit. Die Ausgaben für die IT-Infrastruktur der Bank machten etwa 11,3 % ihrer gesamten Betriebskosten aus.

Kategorie „Technologieinvestitionen“.	Betrag (in Mio. €)
Cloud-Computing-Infrastruktur	462
Cybersicherheitssysteme	378
Datenanalyseplattformen	294
Upgrade der Kernbankensysteme	466

Compliance- und Regulierungskosten

Die Compliance-Kosten der Deutschen Bank beliefen sich im Jahr 2023 auf insgesamt 1,2 Milliarden Euro, was einen erheblichen Teil ihrer Betriebsausgaben darstellt.

• Compliance zur Bekämpfung der Geldwäsche (AML): 412 Millionen Euro
• Regulatorische Meldesysteme: 276 Millionen Euro
• Risikomanagement-Infrastruktur: 512 Millionen Euro

Vergütung und Schulung der Mitarbeiter

Der gesamte Personalaufwand der Deutschen Bank belief sich im Jahr 2023 auf 12,4 Milliarden Euro.

Vergütungskategorie	Betrag (in Mio. €)
Grundgehälter	8,760
Leistungsprämien	2,480
Mitarbeiterschulungsprogramme	164
Berufliche Entwicklung	96

Initiativen zur digitalen Transformation

Die Deutsche Bank hat im Jahr 2023 1,1 Milliarden Euro in Initiativen zur digitalen Transformation investiert.

• Implementierung von KI und maschinellem Lernen: 324 Millionen Euro
• Entwicklung einer digitalen Banking-Plattform: 412 Millionen Euro
• Blockchain- und Fintech-Integration: 364 Millionen Euro

Globale Betriebswartungskosten

Die weltweiten betrieblichen Wartungsaufwendungen der Deutschen Bank beliefen sich im Jahr 2023 auf 2,3 Milliarden Euro.

Kategorie „Betriebliche Wartung“.	Betrag (in Mio. €)
Wartung der physischen Infrastruktur	612
Netzwerk- und Kommunikationssysteme	456
Globale Bürobetriebskosten	782
Softwarelizenz und Wartung	450

Deutsche Bank Aktiengesellschaft (DB) - Geschäftsmodell: Einnahmequellen

Gebühren für das Investmentbanking

Im Jahr 2023 erzielte die Investmentbanking-Sparte der Deutschen Bank einen Umsatz von 6,2 Milliarden Euro. Die Aufschlüsselung der Investmentbanking-Gebühren umfasst:

Gebührenkategorie	Umsatz (Milliarden €)
Beratung bei Fusionen und Übernahmen	1.8
Underwriting-Dienstleistungen	2.4
Schuldenkapitalmärkte	1.5
Eigenkapitalmärkte	0.5

Zinserträge aus der Kreditvergabe

Die Zinserträge der Deutschen Bank beliefen sich im Jahr 2023 auf insgesamt 14,3 Milliarden Euro, mit folgender Segmentverteilung:

• Zinsertrag im Firmenkundengeschäft: 7,2 Milliarden Euro
• Zinserträge aus dem Privatkundengeschäft: 5,1 Milliarden Euro
• Zinsertrag Global Markets: 2,0 Milliarden Euro

Provisionen für die Vermögensverwaltung

Der Vermögensverwaltungsumsatz erreichte im Jahr 2023 3,6 Milliarden Euro und verteilte sich wie folgt:

Segment Asset Management	Provisionseinnahmen (Mio. €)
Institutionelle Kunden	2,100
Privatkunden	1,000
Alternative Investitionen	500

Einnahmen aus dem Transaktionsbanking

Das Transaktionsbanking erzielte im Jahr 2023 einen Umsatz von 4,5 Milliarden Euro:

• Cash Management Services: 2,3 Milliarden Euro
• Handelsfinanzierung: 1,2 Milliarden Euro
• Zahlungsdienste: 1,0 Milliarden Euro

Gebühren für Finanzberatungsdienste

Finanzberatungsdienstleistungen erwirtschafteten im Jahr 2023 einen Umsatz von 2,1 Milliarden Euro:

Beratungsdiensttyp	Umsatz (Mio. €)
Unternehmensstrategieberatung	850
Risikomanagement-Beratung	650
Beratung zur digitalen Transformation	600

Deutsche Bank Aktiengesellschaft (DB) - Canvas Business Model: Value Propositions

You're looking at the core offerings Deutsche Bank Aktiengesellschaft (DB) is using to anchor its position as the European champion. These value propositions are backed by concrete, recent financial performance, showing where the bank is directing its efforts as of late 2025.

Global Hausbank: Integrated Corporate and Investment Bank services.

The integrated approach is clearly translating into top-line performance. For the first half of 2025, net revenues for the group reached €16.3 billion. Looking at the longer nine-month period of 2025, net revenues were €24.4 billion, reflecting a 7% year-on-year growth. The bank emphasizes its leading franchises, such as holding the #1 Global non-US FIC (Fixed Income & Currencies) franchise and being recognized as the #1 World's Best Bank for Corporates. This integrated strength is key; for instance, cross-regional corridors contribute approximately 40% of revenues derived from multinational clients. That's a solid chunk of business flowing through their global network.

Cross-border financing and risk management for multinational firms.

This value proposition is intrinsically linked to the Global Hausbank strength. Deutsche Bank Aktiengesellschaft (DB) supports global supply chain shifts and offers strong capabilities across key cross-regional corridors. The bank also highlights its leading European position in SSA (Sovereigns, Supranationals and Agencies) issuance and EMEA cash rates. While specific NAV financing figures for Asia aren't public in these reports, the focus on cross-regional strength shows where the cross-border value is being realized.

Personalized wealth management for High-Net-Worth (HNW) clients.

Deutsche Bank Aktiengesellschaft (DB) is actively refining its service model here, recently restructuring its German business to consolidate services for wealthy and HNW clients into the Wealth Management unit for better efficiency. Assets under management across the Private Bank and Asset Management divisions stood at €645 billion as of H1 2025. Within the Private Bank specifically, net revenues in the second quarter of 2025 were €2.4 billion, with revenues in Wealth Management & Private Banking rising 2% year-on-year in H1 2025 to €1.1 billion. They are establishing specialized units like Wealth Planning Germany to advise on complex family assets and intergenerational wealth transfers. They are definitely putting structure behind the personalized advice.

Sustainable finance and ESG products.

This is a major area of focus, with tangible results reported through H1 2025. Deutsche Bank Aktiengesellschaft (DB) is pushing hard toward its goal of achieving €500 billion in cumulative sustainable financing and investment volumes between 2020 and 2025. By the end of H1 2025, the cumulative volume since January 1, 2020, reached €417 billion (excluding DWS). The second quarter of 2025 was the strongest sustainable finance quarter in four years, adding €28 billion. The breakdown of this cumulative volume shows where the activity is concentrated:

Business Division	Cumulative Volume Since Jan 2020 (by H1 2025)	Volume Added in Q2 2025
Investment Bank	€253 billion	€17 billion
Corporate Bank	€81 billion	€7 billion
Private Bank	€74 billion	€5 billion growth in ESG assets/lending

The Investment Bank has been the primary driver, accounting for €253 billion of the cumulative total.

Innovative financing solutions like NAV financing in Asia.

The bank is actively involved in landmark sustainable transactions, which demonstrates its capability in structuring complex, innovative deals. For example, in Q2 2025, Deutsche Bank Aktiengesellschaft (DB) was involved in:

• Acting as Joint Lead Manager for Slovenia's inaugural €1 billion sustainability-linked bond.
• Acting as Global Coordinator for NeXtWind's €1.4 billion debt financing deal.
• Lender, Mandated Lead Arranger, and Hedge Provider for Australia's first Renewable Energy Zone transmission network PPP.

These deals show the bank's capacity to structure significant, transition-linked financing, which is a core part of its value proposition for clients needing specialized solutions.

Deutsche Bank Aktiengesellschaft (DB) - Canvas Business Model: Customer Relationships

You're looking at how Deutsche Bank Aktiengesellschaft (DB) manages its client interactions across its core segments as of late 2025. The approach is clearly segmented, focusing high-touch service on high-value clients while pushing digital adoption elsewhere.

For the most affluent private clients, the relationship model is paramount. This segment, defined by significant assets, shows remarkable stickiness. Key performance indicators from 2024 demonstrated the success of this strategic shift, including a 95% client retention rate for private clients with assets over €1 million. Furthermore, revenue per relationship within the private bank increased by 5% in 2024.

This high-value focus is supported by dedicated human capital. Deutsche Bank Aktiengesellschaft (DB) intends to hire up to 250 bankers to support the expansion of its wealth management business across key regions, with most appointments scheduled for next year. The growth in client assets under management across the Private Bank and Asset Management sectors reached an increase of EUR 140 billion in the first nine months of 2025.

The advisory-led model is central to serving complex needs in the Corporate Bank and Private Bank. For corporate clients, the bank emphasizes financing and sales and trading for corporate clients, and the Corporate Bank's transaction banking is noted as a strategic moat that scales with corporate globalization and complexity. The Private Bank delivers advisory fees and lending. The growth in investment product revenues has been a key driver for the Private Bank.

Here's a look at the Private Bank's scale in the third quarter of 2025:

Metric	Value (End of Q3 2025)	Value (End of Q2 2025)
Assets under Management	€675 billion	€645 billion
Private Bank Net Revenues	€2.4 billion (Q3 2025)	€2.4 billion (Q2 2025)

On the retail and personal banking side, the relationship is heavily digitized. The banking client in 2025 is described as being empowered by digital bots and digitally assisted client advisors. These digital channels help customers perform a range of operations, including account balance checks, transfer transactions, bill payments, and even securities deals. Still, Deutsche Bank Aktiengesellschaft (DB) has faced challenges attracting older customers to use mobile services, which has slowed its adaptation to new digital demands. The bank significantly increased its investment in digital transformation in 2023, with total ICT investments amounting to approximately USD 4.9 billion.

The key relationship drivers for the high-value segments include:

• Dedicated coverage teams for Corporate Bank FIC clients showing revenue growth per FTE between 2021 and the forecast for 2025.
• A focus on relationship-driven acquisition blended with a service-based retention model.
• Net inflows into Private Bank and Asset Management of €66 billion during the first nine months of 2025.
• The Corporate Bank's cash management and trade finance revenues display high client retention.

Finance: draft 13-week cash view by Friday.

Deutsche Bank Aktiengesellschaft (DB) - Canvas Business Model: Channels

You're mapping out how Deutsche Bank Aktiengesellschaft (DB) gets its value propositions to its customers as of late 2025. It's a mix of massive global infrastructure and aggressive digital transformation, especially in the home market.

Global network of Investment Banking and Corporate Bank offices

Deutsche Bank Aktiengesellschaft maintains its global reach, which is a key channel for its Investment Bank and Corporate Bank segments. As of Q3 2025, the bank's Total Assets stood at €1.391 trillion. While the most recent specific country count is from 2018, at that time the network spanned 58 countries across Europe, the Americas, and Asia, positioning it to serve global corporate and institutional clients. The bank reaffirmed its FY 2025 net revenue target at around €32 billion, showing the scale of activity flowing through these global channels. The Investment Bank unit is expected to see revenue consensus estimates around €11.3 billion for 2025.

Here's a look at the scale of the Investment Bank's activity, which heavily relies on these global desks:

Metric	Value (2025 Data)	Period/Context
Investment Bank Revenue Estimate	€11.3 billion	Consensus for FY 2025
Investment Bank Bonus Pool Growth (2024)	32 per cent	Year-over-year increase for 2024 work
High Earners (> €1M Total Pay)	647 individuals	As of year-end 2024

Physical branch network in Germany (undergoing significant reduction)

The physical footprint in Germany, the bank's home market, is actively being streamlined. Deutsche Bank Aktiengesellschaft is executing a planned reduction in its retail distribution channels. This involved closing a 'mid-double-digit number' of smaller outlets, with reports indicating around 50 closures planned for 2025. This follows a network that previously stood at approximately 400 branches. Furthermore, the bank is trimming headcount in the retail bank by around 2,000 people in 2025 as part of this efficiency drive. The strategic goal for 2025 included finalizing IT platform consolidation in Germany to support this shift.

The Corporate Bank segment showed strong resilience in its physical/digital interface channel performance, with a Q3 2025 Post-Tax Return on Tangible Equity (RoTE) of 16.2% and a Cost-Income Ratio of 63% for the quarter.

Dedicated digital platforms and mobile apps for all segments

Digital channels are central to the strategy, especially for the Private Bank and Retail segments. The bank is actively investing to upgrade its app and add more digital services in 2025. This aligns with broader market trends; in Germany, it is estimated that over 70% of all banking transactions will be conducted digitally in 2025. Across the globe, a survey indicated that 77% of banking interactions are now happening through digital channels. This digital focus helps concentrate personal contact where it's most needed.

• Digital banking interactions globally: 77%
• Estimated digital transaction share in Germany: Over 70% (2025)
• FY 2025 Net Interest Income (NII) guidance across key segments: ~€13.6 billion

Sales and trading desks for market access and execution

The Sales and Trading desks remain critical for market access and liquidity provision, particularly for the Investment Bank. The bank reported 7% year-on-year revenue growth in Q3 2025, with Fixed Income & Currencies expected to grow by at least a high single-digit percent compared to the prior year quarter. The total variable compensation awarded for 2024 work reached €2.5 billion, marking the largest bonus pool in a decade, driven by strong trading and deals activity.

You see the scale of compensation reflecting the activity on these desks:

• Total variable compensation (2024 work): €2.5 billion
• Number of employees earning over €1 million (2024): 647
• Reported Sales Revenues (Q ending June 2025): €7.82 billion

Finance: draft 13-week cash view by Friday.

Deutsche Bank Aktiengesellschaft (DB) - Canvas Business Model: Customer Segments

Deutsche Bank Aktiengesellschaft focuses its business model on four primary, high-value customer segments, central to its Global Hausbank strategy.

Multinational Corporations and large-cap companies

This group forms a critical part of the Corporate Bank and Investment Bank client base, requiring complex cross-border financing and capital markets solutions.

• The B2B segment, which includes these corporations, was the largest revenue contributor, generating approximately 60% of Deutsche Bank Aktiengesellschaft's total revenue in 2024.
• Deutsche Bank Aktiengesellschaft serves over 70% of Germany's DAX-listed companies.
• Customer deposits across the Group stood at €663 billion in the third quarter of 2025.
• Total net revenues for the first nine months of 2025 grew 7% year on year to €24.4 billion.

German Mittelstand (mid-sized corporate backbone of Germany)

The Mittelstand remains a dominant and critical segment, deeply integrated with the Corporate Bank for advisory and financing needs.

Metric	Value (as of late 2025 data)	Context
Segment Focus	Deep client relationships in Germany	Core to the Global Hausbank strategy.
Sustainable Finance Volume (Cumulative since 2020)	€84 billion (Corporate Bank contribution)	As of the third quarter of 2025.
Loan Volume (Corporate Bank)	Declined by €5 billion compared to the prior year quarter (Q3 2024)	Reported in Q3 2025 earnings context.

Affluent and High-Net-Worth Individuals (HNWI) with >€500,000 assets

This B2C group is served by the Private Bank and Wealth Management, which targets individuals with investable assets above the €500,000 threshold.

The Private Bank and Asset Management sectors saw a combined increase in assets under management by €140 billion over the initial nine months of 2025.

• Assets under Management (AuM) for the Private Bank were €645 billion as at June 30, 2025.
• Net inflows across Private Bank and Asset Management totaled €41 billion for the first half of 2025.
• Private Bank net revenues in the second quarter of 2025 were €2.4 billion ($2.82 billion).
• Wealth Management and Private Banking revenues rose by 2% to €1.1 billion in Q2 2025.
• Client retention rate for private clients with assets over €1 million reached 95% in 2024.

Financial Institutions, Sovereigns, and Governments

These institutional clients are served across the Corporate Bank and Investment Bank segments, often through Institutional Client Services.

Metric	Value (as of late 2025 data)	Context
Institutional Client Services Revenue (Q3 2025)	€1.5 billion	Down 1% year on year.
Investment Bank Sustainable Finance Contribution (Cumulative since 2020)	€271 billion	Includes capital market issuance and market making.
Total Assets (Group)	€1.391 trillion	As of Q3 2025.

Deutsche Bank Aktiengesellschaft's Asset Management arm is positioned to act as a gateway to Europe for global investors, building on its diversified assets under management of more than €1,000,000,000,000.

Deutsche Bank Aktiengesellschaft (DB) - Canvas Business Model: Cost Structure

You're looking at the expense side of Deutsche Bank Aktiengesellschaft's business model as of late $\text{2025}$, and the story is one of targeted investment against a backdrop of significant cost discipline. The bank is clearly focused on driving efficiency to meet its profitability goals.

Compensation and benefits remain a major cost driver, reflecting the competitive environment, especially in revenue-generating units. For the $\text{2024}$ performance year, Deutsche Bank Aktiengesellschaft increased its total variable compensation pool to €2.5 billion, which represented an approximate 25% increase over the prior year's pool of $\text{€2.0}$ billion. The Investment Bank unit saw its specific bonus pool gain 32% for $\text{2024}$. To put this into perspective on individual compensation, Chief Executive Officer Christian Sewing's total pay for $\text{2024}$ was €9.8 million, while the highest-earning unnamed employee received up to €18 million. This structure is influenced by a new remuneration system that allows for a larger number of staff to receive bonuses.

Technology and digitalization investment costs are being managed through strategic hiring and platform modernization. While a specific total investment figure for $\text{2025}$ isn't immediately available, the commitment is evident in personnel additions; in $\text{2024}$, Deutsche Bank Aktiengesellschaft hired 1,300 technology specialists to support long-term cost improvement and growth. The bank continues to further invest in its app and other digitization efforts, leveraging its unified IT environment.

Regulatory and compliance costs are structural and ongoing, particularly in areas like anti-money laundering. Deutsche Bank Aktiengesellschaft has been actively building out its control functions. By the end of $\text{2024}$, the bank had hired around 600 anti-financial crime specialists across $\text{2023}$ and $\text{2024}$, bringing the total headcount in this area to 2,492. Furthermore, a dedicated Chief Compliance and Anti-Financial Crime Officer was appointed at the Management Board level to oversee these critical functions.

Provision for credit losses is a key variable cost influenced by the economic outlook. For the full year $\text{2025}$, Deutsche Bank Aktiengesellschaft expects annual credit loss provisions to remain elevated, guided at 35-40 basis points (bps) of average loans, reflecting ongoing challenges, especially in the U.S. commercial real estate lending book. For context, the provision for credit losses in the first half of $\text{2025}$ was reported at 36 basis points of average loans. Management projects these provisions will decrease toward approximately 30 bps annually starting from $\text{2026}$.

The overarching goal for operating costs reduction is centered on achieving a target Cost-to-Income Ratio (CIR) below 65% for the full year $\text{2025}$. The bank reported success in this area through the first nine months of $\text{2025}$, with the CIR standing at 63.0%, an improvement from $\text{73.2%}$ in the prior year period. The $\text{2025}$ outlook for adjusted costs was set to be held flat at €20.3 billion, following adjusted costs of €20.4 billion in $\text{2024}$.

Here is a summary of the key cost structure metrics and targets:

Cost Component/Metric	Latest Reported Figure	Guidance/Context
Cost-to-Income Ratio (CIR)	63.0% (9M 2025)	Full-year 2025 target: below 65%
Total Bonus Pool (2024 Performance)	€2.5 billion	25% increase versus 2023 pool
Provision for Credit Losses (2025 Guidance)	35-40 bps	Expected to decrease to approx. 30 bps from 2026
Anti-Financial Crime Specialists (Total Headcount)	2,492 (End of 2024)	Approx. 600 hired in 2023 and 2024
Technology Hiring (2024)	1,300 specialists	Part of ongoing digitization investment
Adjusted Costs (2024)	€20.4 billion	2025 Outlook: Adjusted costs flat at €20.3 billion

The bank is managing its expense base by normalizing non-operating costs, which were substantial in $\text{2024}$ (e.g., $\text{€2.6}$ billion including $\text{€1.7}$ billion in litigation charges). The expectation for $\text{2025}$ is that the risk profile is dramatically changed, running unburdened from many of those legacy costs.

• Compensation Structure Change: Long-term bonuses shifted from a three-year lookback to future performance over the same period starting in $\text{2024}$.
• Investment Bank Cost Focus: The Investment Bank segment achieved a cost-to-income ratio of 55% in the first nine months of $\text{2025}$.
• Private Bank Cost Focus: The Private Bank segment reported a cost-to-income ratio of 70% in the first nine months of $\text{2025}$.

Deutsche Bank Aktiengesellschaft (DB) - Canvas Business Model: Revenue Streams

You're looking at how Deutsche Bank Aktiengesellschaft (DB) brings in money as we wrap up 2025. The overall ambition for the year is clear: a net revenues target of around €32 billion for the full year 2025. This top-line goal is supported by strong performance across the core businesses.

Interest income remains a foundational piece. Net Interest Income (NII) generated from lending and deposits showed solid momentum, specifically growing up 9% in Q3 2025. This growth helps offset some of the pressure from the interest rate environment, as noted in earlier quarters.

Fee-based income from the Investment Bank is a major contributor. For the first nine months of 2025 (9M 2025), the Profit Before Tax (PBT) from Investment Bank fees, covering Fixed Income & Currencies (FIC) and Origination & Advisory (O&A), reached €3.3 billion. This performance reflects the strength of the FIC franchise and improved Origination & Advisory results.

The Corporate Bank also delivers significant, transaction-driven revenue. For the same 9M 2025 period, the PBT from Corporate Bank transaction fees was reported at €2.0 billion. This segment maintained high profitability, with its post-tax Return on Tangible Equity (RoTE) at 16.0% and a cost/income ratio of 62% for the nine-month period.

The Private Bank and Asset Management streams are heavily influenced by the scale of Assets under Management (AuM). As of the end of the first half of 2025, the combined AuM stood at €1,010 billion, driven by net inflows of €41 billion in the first half of 2025 alone. Looking at the nine-month performance, net inflows across Private Bank and Asset Management reached €66 billion. The Asset Management division, for instance, saw its management fees reach €1.3 billion in the first half of 2025, with performance and transaction fees adding €95 million.

Here is a quick look at the reported divisional PBT figures for the first nine months of 2025:

Revenue Source	9M 2025 Profit Before Tax (PBT)
Investment Bank (FIC, O&A)	€3.3 billion
Corporate Bank (Transaction Fees)	€2.0 billion
Private Bank	€1.8 billion
Asset Management	€666 million

The Private Bank delivered a strong PBT of €1.8 billion for 9M 2025, up 71% year on year. Meanwhile, Asset Management PBT was €666 million, marking a 48% increase year on year.

You can see the breakdown of the key fee-related revenue drivers:

• Net Interest Income (NII) growth in Q3 2025: up 9%.
• Private Bank net revenues in Q3 2025: €2.4 billion.
• Asset Management net revenues in Q3 2025: €734 million.
• Investment Bank Q3 net revenues: €3.0 billion.

Finance: draft Q4 2025 revenue forecast by next Tuesday.