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
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
6. Earnings excluding interest on deposits		8,773		11,606		16,902			15,672			14,786
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
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
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
14. Fixed charges excluding interest on deposits		7,685		10,954		11,249			9,692			9,641
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
Excluding interest on deposits (Line 6/Line 14)		1.14		1.06		1.50			1.62			1.53

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.