Deutsche Bank reports earnings as of Sept. 30, 2026

For U.S. reporting, Deutsche Bank uses IASB IFRS, which does not permit the EU carve-out hedge-accounting treatment.

Rhea-AI Filing Summary

Deutsche Bank Aktiengesellschaft furnished an earnings report prepared under IASB IFRS and a capitalization table, both as of September 30, 2026; the report and exhibits are incorporated by reference into an existing registration statement. For U.S. reporting, the bank uses IASB IFRS, which does not permit the EU carve-out for fair value hedge accounting; the bank says IASB IFRS is otherwise the same as EU IFRS. It describes the EU carve-out as using fair value hedge accounting for portfolio hedges of interest rate risk to reduce volatility in reported Treasury revenue.

The “Risks and Opportunities” section supplements, but does not replace, the risk factors in the bank’s 2025 Annual Report. The report also discusses non-GAAP measures and identifies their most directly comparable IFRS measures.

Key Terms

EU carve out, fair value macro hedges, non-GAAP financial measures, IAS 39, +1 more

5 terms

EU carve out technical

"EU carve out version of IAS 39"

fair value macro hedges financial

"fair value macro hedges"

non-GAAP financial measures financial

"Use of Non-GAAP Financial Measures"

Non-GAAP financial measures are numbers companies use to show their financial performance that exclude certain expenses or income. They help investors see how the company might perform without one-time costs or other unusual items, giving a different perspective from official reports. However, since they can be adjusted, they don’t always tell the full story and should be looked at alongside standard financial figures.

IAS 39 technical

"EU carve out version of IAS 39"

AT1 coupon financial

"after AT1 coupon"

An AT1 coupon is the periodic interest payment made to holders of Additional Tier 1 (AT1) bank securities — a high-risk type of bank bond that regulators allow to count as extra loss-absorbing capital. It matters to investors because these payments offer higher yield but can be suspended, reduced, or the bond principal permanently cut or converted into shares if the bank hits financial stress, so the income is lucrative but comes with elevated risk.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What IFRS basis does Deutsche Bank (DB) use for U.S. reporting?

Deutsche Bank uses IASB IFRS for U.S. reporting; it does not permit the EU carve-out, and is otherwise the same as EU IFRS.

How does Deutsche Bank describe the EU carve-out’s effect on Treasury revenue?

The bank says the EU carve-out applies fair value hedge accounting to portfolio hedges of interest rate risk, seeking to minimize accounting exposure to interest-rate moves within each tenor bucket and thereby reduce volatility in reported Treasury revenue.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Available on EDGAR 10/28/2026 - 06:04 AM EDT Accepted by SEC EDGAR 10/28/2026 - 06:04 AM EDT Learn about SEC filing dates

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 October 2026

Commission File Number 1-15242

DEUTSCHE BANK CORPORATION

(Translation of Registrant’s 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 ☐

2

Explanatory note and Exhibits

This Report on Form 6-K contains the following exhibits. This Report on Form 6-K and the exhibits hereto are hereby

incorporated by reference into Deutsche Bank’s Registration Statement No. 333-278331. For the avoidance of doubt,

the section of the Earnings Report (contained in Exhibit 99.1) entitled “Risks and Opportunities” is intended to

supplement, but not replace, the section “Risk Factors” in the Deutsche Bank’s 2025 Annual Report on Form 20-F.

Exhibit 99.1: Deutsche Bank AG’s Earnings Report as of September 30, 2026 (IASB IFRS).

Exhibit 99.2: Capitalization table of Deutsche Bank AG as of September 30, 2026 (IASB IFRS).

For non-U.S. purposes, Deutsche Bank publishes its Earnings Report and other financial reporting documents setting

forth results prepared in accordance with International Financial Reporting Standards (IFRS) as endorsed by the

European Union, including application of fair value hedge accounting for portfolio hedges of interest rate risk (fair value

macro hedges) in accordance with the EU carve out version of IAS 39 (“EU IFRS”, using the “EU carve out”). Fair value

hedge accounting under the EU carve out is employed to minimize the accounting exposure to both positive and

negative moves in interest rates in each tenor bucket thereby reducing the volatility of reported revenue from Treasury

activities.

For U.S. reporting purposes, Deutsche Bank also publishes its Earnings Report prepared in accordance with IFRS as

issued by the International Accounting Standards Board (IASB), which does not permit use of the EU carve out (“IASB

IFRS”), but which is otherwise the same as EU IFRS. The Earnings Report using IASB IFRS is attached as Exhibit 99.1

hereto. The impact of the EU carve out is described in the section “Basis of preparation/impact of changes in accounting

principles” thereof.

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 2025 Annual Report on Form 20-F filed with the SEC, under the heading “Risk Factors.” Copies of this

document are readily available upon request or can be downloaded from www.deutsche-bank.com/ir.

3

Use of Non-GAAP Financial Measures

This document and other documents Deutsche Bank has published or may publish contain non-GAAP financial measures.

Non-GAAP financial measures are measures of its 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 its financial statements. Examples of

its non-GAAP financial measures, and the most directly comparable IFRS financial measures, are as follows:

Non-GAAP Financial Measure		Most  Directly  Comparable  IFRS  Financial Measure
Net interest income in the key banking book segments		Net interest income
Revenues on a currency-adjusted basis (“ex-FX”)		Net revenues
Costs on a currency-adjusted basis		Noninterest expenses
Net assets (adjusted)		Total assets
Tangible shareholders’ equity, Average tangible shareholders’ equity, Tangible book value, Average tangible book value		Total shareholders’ equity (book value)
Post-tax return on average tangible shareholders’ equity (based on Profit (loss) attributable to Deutsche Bank shareholders after AT1 coupon)		Post-tax return on average shareholders’ equity
Tangible book value per basic share outstanding, Book value per basic share outstanding		Book value per share outstanding

For descriptions of these non-GAAP financial measures and the adjustments made to the most directly comparable

financial measures under IFRS, please refer to (i) the section “Non-GAAP financial measures” of Exhibit 99.1 hereto and

(ii) the section “Supplementary Information (Unaudited): Non-GAAP Financial Measures” of Deutsche Bank’s 2025 Annual

Report on Form 20-F.

When used with respect to future periods, non-GAAP financial measures Deutsche Bank uses forward-looking

statements. Deutsche Bank 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.

4

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.

Deutsche Bank Aktiengesellschaft

Date:      October 28, 2026

By:	_/s/ Andrea Schriber____________
Name:	Andrea Schriber
Title:	Managing Director

By:	_/s/ Joseph C. Kopec____________
Name:	Joseph C. Kopec
Title:	Managing Director and Senior Counsel

.

Filing Exhibits & Attachments

2 documents

Other Documents

• EX-1 EX-1 3.4 MB
• EX-2 EX-2 39.6 KB