Deutsche Bank seeks supervisory approval for second share repurchase program

At its Annual General Meeting on May 22, 2025, Deutsche Bank (DB) announced its intention to maintain a CET1 ratio within an operating range of 13.5% to 14.0% while adhering to its commitment to a 50% payout ratio. The bank has completed the majority of its current EUR 750M share repurchase program and has sought supervisory approval for a second share repurchase program in 2025. This would, if approved, enable capital distributions in excess of the EUR 2.1B completed or anticipated in 2025 from dividends and share repurchases under the current program. Deutsche Bank anticipates no change to its capital distribution strategy or financial targets from the ultimate implementation of Capital Requirements Regulation 3. The bank expects to materially reduce or eliminate the hypothetical future impact on RWAs from the output floor through a combination of low-cost mitigation measures, mitigants arising from the full application of already-final CRR3 rules, and shareholder value add based optimization, by 2030. Assuming no extension of Transitional Arrangements from December 2032, the bank expects additional mitigation through increasing external rating coverage of currently unrated corporate clients, balance sheet optimization, and further SVA-driven activities by 2033.