Exhibit 7.1
The following table sets forth Deutsche Bank AG’s ratio of earnings to fixed charges for the periods:
Year Ended Dec 31, 2013 | Year Ended Dec 31, 2012 | Year Ended Dec 31, 2011 | Year Ended Dec 31, 2010 | Year Ended Dec 31, 2009 | ||||||||||||||||
in € millions, except ratios | ||||||||||||||||||||
Earnings: | ||||||||||||||||||||
1. Income (loss) before income tax expense | 1,456 | 814 | 5,390 | 3,975 | 5,202 | |||||||||||||||
2. Add: Fixed charges excluding capitalized interest (Line 10) | 11,045 | 15,901 | 17,207 | 13,493 | 14,762 | |||||||||||||||
3. Less: Net income (loss) from equity method investments | 369 | 163 | (264 | ) | (2,004 | ) | 59 | |||||||||||||
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4. Earnings including interest on deposits | 12,132 | 16,552 | 22,860 | 19,472 | 19,905 | |||||||||||||||
5. Less: Interest on deposits | 3,360 | 4,946 | 5,958 | 3,800 | 5,119 | |||||||||||||||
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6. Earnings excluding interest on deposits | 8,773 | 11,606 | 16,902 | 15,672 | 14,786 | |||||||||||||||
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Fixed Charges: | ||||||||||||||||||||
7. Interest Expense | 10,768 | 15,619 | 16,921 | 13,196 | 14,494 | |||||||||||||||
8. Estimated interest component of net rental expense | 277 | 283 | 286 | 297 | 268 | |||||||||||||||
9. Amortization of debt issuance expense | 0 | 0 | 0 | 0 | 0 | |||||||||||||||
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10. Total fixed charges including interest on deposits and excluding capitalized interest | 11,045 | 15,901 | 17,207 | 13,493 | 14,762 | |||||||||||||||
11. Add: Capitalized interest | 0 | 0 | 0 | 0 | 0 | |||||||||||||||
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12. Total fixed charges | 11,045 | 15,901 | 17,207 | 13,493 | 14,762 | |||||||||||||||
13. Less: Interest on deposits (Line 5) | 3,360 | 4,946 | 5,958 | 3,800 | 5,119 | |||||||||||||||
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14. Fixed charges excluding interest on deposits | 7,685 | 10,954 | 11,249 | 9,692 | 9,641 | |||||||||||||||
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Consolidated Ratios of Earnings to Fixed Charges: | ||||||||||||||||||||
Including interest on deposits (Line 4/Line 12) | 1.10 | 1.04 | 1.33 | 1.44 | 1.35 | |||||||||||||||
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Excluding interest on deposits (Line 6/Line 14) | 1.14 | 1.06 | 1.50 | 1.62 | 1.53 | |||||||||||||||
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Comparatives for 2012 have been adjusted to reflect changes according to IFRS 10, IFRS 11, IAS 19, IAS 27 and IAS 28, which had to be applied retrospectively.
Comparatives for Interest expense and for Interest on deposits have been restated for 2012 and 2011.
For purposes of calculating the ratio of earnings to fixed charges, earnings consist of income (loss) before income tax expense, less net income (loss) from equity method investments plus fixed charges. Fixed charges for these purposes consist of interest expense and a portion of rentals, reflecting one-third of net rental expense, deemed representative of the interest component of the rental expense. These ratios are presented both including and excluding interest on deposits.