DEUTSCHE BANK AKTIENGESELLSCHAFT
For the period ended Dec 31, 2025. Filed Mar 12, 2026.
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The yearly report of a company based outside the US. It covers much of what a 10-K does, and may follow accounting rules other than US ones.
FY2025 · Filed Mar 12, 2026
Contents
10 — Restructuring
In 2025, Restructuring is primarily driven by the Group’s Global Hausbank strategic agenda. The Group has defined and
implemented efficiency measures that contributed to achieving the bank’s 2025 targets.
Restructuring expense is comprised of termination benefits, additional expenses covering the acceleration of deferred
compensation awards not yet amortized due to the discontinuation of employment and contract termination costs
related to real estate. Other staff-related termination expenses not meeting the IAS 37 requirements to be Restructuring
are recorded as Severance within Compensation and Benefits.
Net restructuring expense by division
| in € m. | 2025 | 2024 | 2023 |
|---|---|---|---|
| Corporate Bank | — | (1) | (4) |
| Investment Bank | — | — | (3) |
| Private Bank | (15) | (3) | 228 |
| Asset Management | — | — | — |
| Corporate & Other | — | — | (1) |
| Total Net Restructuring Charges | (15) | (3) | 220 |
Net restructuring by type
| in € m. | 2025 | 2024 | 2023 |
|---|---|---|---|
| Restructuring – Staff related | (13) | (5) | 178 |
| thereof: | |||
| Termination Benefits | (15) | (6) | 176 |
| Retention Acceleration | 1 | — | 1 |
| Social Security | 1 | 1 | 1 |
| Restructuring – Non Staff related | (1) | 1 | 42 |
| Total Net Restructuring Charges | (15) | (3) | 220 |
Provisions for restructuring amounted to€151 million,€273 million and€333 million as of December 31, 2025,
December 31, 2024 and December 31, 2023, respectively. The majority of the current provisions for restructuring are
expected to be utilized in 2026.
During 2025,535 full-time equivalent staff was reduced through restructuring (2024:168 and 2023:476).
Organizational changes
| Full-time equivalent staff | 2025 | 2024 | 2023 |
|---|---|---|---|
| Corporate Bank | 3 | 10 | 29 |
| Investment Bank | 1 | 5 | 9 |
| Private Bank | 519 | 116 | 377 |
| Asset Management | — | 2 | — |
| Infrastructure | 12 | 35 | 61 |
| Total full-time equivalent staff | 535 | 168 | 476 |
| Deutsche Bank | Notes to the consolidated income statement |
|---|
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