June Edition

Greetings from Frankfurt,    

Welcome to a new edition of our newsletter. First up is one of the most important dates in the bank’s financial year: our Annual General Meeting, which we held on May 16. Amidst global uncertainties, we were proud to share a year of strong performance and excellent results. We also used the occasion to share our newly defined purpose statement.    

Also this month, we were named Best Transaction Bank in Asia Pacific. And we have joined the Monetary Authority of Singapore’s (MAS) Project Guardian to explore the potential of asset tokenisation.     

Speaking of cooperation, we recently joined forces with the European Investment Bank to launch a mortgage programme for climate-friendly housing and energy-efficient home modernisation in Germany.    

Turning to thought leadership and innovation, we published an article this month in our new What Next dossier on the future world of work, featuring US firm SkyHive, which is on a mission to help companies unlock their employees’ potential by focusing on individual skills.  

It's not just about professional skills, though. Abilities that people develop outside the workplace can be just as important in their careers. Take our colleague Ingrid Lauterbach for example. A champion chess player, Ingrid says it helps her at work – a skill our bank has been benefiting from for more than two decades.   

Something that has been around a little longer is our presence in Bengaluru, India. This month, we celebrated its 30-year anniversary. We also celebrated an anniversary a little closer to Frankfurt: Deutsche Bank in Spain celebrated 135 years.   

Back in the 19th century, Spain was part of a Europe that was a long way from todays’ European Union. Today, the EU is diverse, stable and innovative – principles and values that are at its heart. With the European elections imminent, we are reminded of the crucial role they play in shaping a resilient and democratic Europe.  

For those in the EU, happy voting, but first: happy reading!  

Top event  

At this year’s Annual General Meeting (AGM) on May 16, we looked back at a year of strong performance. Highlights:  

➡ We achieved strong results in 2023, with revenues up by 6 percent to nearly 29 billion euros and pre-tax profit passing the 5.7 billion mark – our best result in 16 years.  

➡️ Leading global rating agencies Fitch, DBRS Morningstar, and Standard & Poor’s all upgraded our ratings in 2023  

➡️ We proposed a dividend of 0.45 euro cents per share for 2023, up from 0.30 per share in 2022.  

For anyone who missed the AGM, we have compiled some of the most important information on our AGM portal and YouTube channel, also including the speeches our Supervisory Board Chairman Alexander Wynaendts and CEO Christian Sewing gave. 

This year’s AGM was also a platform to share for the first time our new purpose, vision, strategy and aspirational culture, all of which are the result of our Management Board taking time to delve into what we aspire to be. At the heart of it is our unwavering dedication to our clients’ lasting success and financial security at home and abroad. 

Discover more about our Global Hausbank strategy and our journey ahead on our corporate strategy page. 

Top in Europe 

Europe’s crucial role 

We have dedicated special focus to the European elections on db.com, where clients and staff tell stories that underline Europe’s potential. Experts from our bank explain what it will take politically and economically to develop this potential. And our country heads from EU states explain what a united Europe means to them.   

The European Parliament elections take place from 6 to 9 June. Voting in the European elections empowers everyone in Europe to shape the future of the European Union! 

Top business stories    

Best Transaction Bank in Asia Pacific   

From Europe we turn to APAC, where we are proud to report good news from our Corporate Bank: The Asset magazine recently named us the Best Transaction Bank in Asia Pacific.    

This award comes on top of 83 other awards we won this year in recognition of our #GlobalHausbank approach in offering the best cash management and trade finance solutions in the market. These include 13 in-country bank awards, 45 best client solutions, two client leadership awards and 19 individual achievement awards.    

These awards underscore our deep dedication to our client's success in the trade corridors across Europe, Asia Pacific, Middle East, Africa and Americas.   

Read the full article on db.com

Deutsche Bank joins Project Guardian to explore asset tokenisation applications 

We are now taking a significant step forward in the realm of digital assets and have joined the Monetary Authority of Singapore (MAS) Project Guardian to explore asset tokenisation applications in regulated financial markets. 

As part of the asset and wealth management workstream, we are working closely with Memento Blockchain and Interop Labs , testing open architecture and interoperable blockchain platforms to service tokenised and digital funds. This will enable us to propose protocol standards and identify best practices to help shape industry progress.

Read more here. 

Top sustainability project 

Deutsche Bank and European Investment Bank launch climate-friendly mortgage programme in Germany 

As we continue to break new ground in the digital asset space, we are equally committed to sustainability and having a positive impact on our planet.  

In line with this commitment and in partnership with the European Investment Bank (EIB) , we have launched a new mortgage programme aimed at promoting climate-friendly housing and energy-efficient home modernisation in Germany. The programme will provide more than 600 million euros in discounted mortgages to individuals looking to build climate-friendly houses or make their homes more energy-efficient.  

The EIB Group is supporting the programme by guaranteeing a 150 million euro mezzanine tranche in a consumer loan securitisation with Deutsche Bank. The transaction frees up regulatory capital for Deutsche Bank who passes on the associated advantages with the transaction to clients in the form of discounted mortgages.  

Read the full article db.com. 

Top anniversary  

Deutsche Bank in Bengaluru: 30 years of transformation   

Now, let’s take a moment to reflect on our bank’s history and celebrate a significant milestone. We marked a top anniversary this month, celebrating 30 years of our first branch in Bengaluru, formerly known as Bangalore.  

The journey began on May 9, 1994, when Harkirat Singh, the CEO for India at the time, participated in a traditional ‘Pooja’ ceremony, lighting a lamp to symbolise the start of business in the new premises.  

Deutsche Bank had already established a presence in India with branches in Mumbai and New Delhi. The opening of the Bengaluru branch underscored the bank’s commitment to expansion on the Indian sub-continent.  

The branch was operational in a remarkably short time – just four months. Initially designed to be a showroom for trucks, the space was swiftly transformed into a modern bank branch. Over the years, Bengaluru has evolved into a burgeoning hub for technology and innovation. This made it an ideal location for one of our key global service centres. This centre is dedicated to enhancing the client experience and delivering innovative financial solutions to our global clients.  

More about Deutsche Bank in India on db.com. 

Top of thought leadership  

Revolutionising the workforce: SkyHive’s mission to reskill the world 

As we celebrate the past, we also look to the future and the transformations it holds. The company SkyHive by Cornerstone is on a mission to reskill the world.  Founded in 2017, it specialises in human resources and – with its innovative approach – is leading the way in transforming the global labour market. Deutsche Bank is one of its investors. 

Under CEO 🍀Sean Hinton , SkyHive champions a skills-focused approach, firmly believing that “individual skills and abilities are the key.” The company’s AI-driven technology scrutinises job profiles, CVs and more across 200 countries and 86 languages, unveiling around 130 million career pathways.  

Dive deeper into SkyHive’s mission to “reskill the world” in our latest dossier on #dbWhatNext, where you will find plenty of other fascinating stories, too.  

Top in chess 

Moving from AI-driven technology to human intelligence: meet our colleague Ingrid Lauterbach, who is an avid chess player and winner of various national and international championships. She was recently appointed president of the German Chess Federation – the first woman in its 146-year history.

Ingrid, who joined Deutsche Bank in 2001, works in our Chief Information Security Office in Germany.  

Top number 

Our top number isn’t just any number; it’s one that marks a significant milestone: the 135th anniversary of Deutsche Bank in Spain.

On May 24, 1889, Deutsche Bank established the Banco Hispano Aleman. The first client was AEG, which also installed public lighting for Madrid. It was one of the first examples of Deutsche Bank being the European Champion and a Global Hausbank for its clients. 

Only a few years later in 1904, Deutsche Ueberseeische Bank (Banco Alemán Transatlántico) opened a branch in Barcelona to help European companies access new markets in Latin America. Today, we are the only foreign bank with a universal approach in Spain. We have more than 2,300 employees across our four businesses, all of whom are equally dedicated to the lasting success of more than half a million Spanish private and corporate clients. 

More about Deutsche Bank in Spain on db.com. 

Top links 

• Global Hausbank strategy: What Deutsche Bank stands for 
• Youtube video: Highlights of our AGM 2024  
• Fly the flag for a strong Europe 
• What Next Dossier: Labour migration, skills shortage and AI  

Stay tuned for more insights and stories in the upcoming editions of our newsletter.