EX-99.3 4 d558164dex993.htm EX-99.3 EX-99.3

Exhibit 99.3

The following table sets forth Deutsche Bank AG’s ratio of earnings to fixed charges for the periods:

 

         Three months  
Ended 

Jun 30, 2018  
         Six months
Ended
Jun 30, 2018
     Year Ended
Dec 31, 2017
     Year Ended
Dec 31, 2016
    Year Ended
Dec 31, 2015
    Year Ended
Dec 31, 2014
     Year Ended
Dec 31, 2013
 

in € millions, except ratios

                          

 

Earnings:

                          

1. Income (loss) before income tax expense

       711          1,143        1,228        (810     (6,097     3,116        1,456  

2. Add: Fixed charges excluding capitalized interest (Line 10)

       3,315          6,674        11,977        11,206       10,368       11,001        11,045  

3. Less: Net income (loss) from equity method investments

       74          176        137        455       164       619        369  

4. Earnings including interest on deposits

       3,952          7,642        13,068        9,941       4,107       13,498        12,132  

5. Less: Interest on deposits

       704          1,451        2,833        2,583       2,764       3,210        3,360  
    

 

 

      

 

 

    

 

 

    

 

 

   

 

 

   

 

 

    

 

 

 

6. Earnings excluding interest on deposits

       3,249          6,190        10,234        7,358       1,342       10,288        8,773  
    

 

 

      

 

 

    

 

 

    

 

 

   

 

 

   

 

 

    

 

 

 

Fixed Charges:

                          

7. Interest Expense

       3,249          6,542        11,714        10,929       10,086       10,729        10,768  

8. Estimated interest component of net rental expense

       66          132        263        277       283       272        277  

9. Amortization of debt issuance expense

       0          0        0        0       0       0        0  
    

 

 

      

 

 

    

 

 

    

 

 

   

 

 

   

 

 

    

 

 

 

10. Total fixed charges including interest on deposits and excluding capitalized interest

       3,315          6,674        11,977        11,206       10,368       11,001        11,045  

11. Add: Capitalized interest

       0          0        0        0       0       0        0  
    

 

 

      

 

 

    

 

 

    

 

 

   

 

 

   

 

 

    

 

 

 

12. Total fixed charges

       3,315          6,674        11,977        11,206       10,368       11,001        11,045  

13. Less: Interest on deposits (Line 5)

       704          1,451        2,833        2,583       2,764       3,210        3,360  

14. Fixed charges excluding interest on deposits

       2,611          5,222        9,144        8,623       7,604       7,791        7,685  

15. Total fixed charges (Line 12)

       3,315          6,674        11,977        11,206       10,368       11,001        11,045  

16. Add : Preference Securities Dividends (1)

       315          315        335        333       269       0        0  

17. Total fixed charges plus preference securities dividends

       3,629          6,988        12,312        11,539       10,637       11,001        11,045  

18. Less: Interest on deposits (Line 5)

       704          1,451        2,833        2,583       2,764       3,210        3,360  
    

 

 

      

 

 

    

 

 

    

 

 

   

 

 

   

 

 

    

 

 

 

19. Fixed charges excluding interest on deposits plus preference securities dividends

       2,926          5,537        9,479        8,956       7,873       7,791        7,685  
    

 

 

      

 

 

    

 

 

    

 

 

   

 

 

   

 

 

    

 

 

 

Ratios of Earnings to Fixed Charges

                          

Including interest on deposits (Line 4/Line 12)

       1.19          1.15        1.09        0.89 (2)      0.40 (6)      1.23        1.10  
    

 

 

      

 

 

    

 

 

    

 

 

   

 

 

   

 

 

    

 

 

 

Excluding interest on deposits (Line 6/Line 14)

       1.24          1.19        1.12        0.85 (3)      0.17 (7)      1.32        1.14  
    

 

 

      

 

 

    

 

 

    

 

 

   

 

 

   

 

 

    

 

 

 

Combined Ratios of Earnings to Fixed Charges plus Preference Securities Dividends

                          

Including interest on deposits (Line 4/Line 17)

       1.09          1.09        1.06        0.86 (4)      0.39 (8)      N/A        N/A  
    

 

 

      

 

 

    

 

 

    

 

 

   

 

 

   

 

 

    

 

 

 

Excluding interest on deposits (Line 6/Line 19)

       1.11          1.12        1.08        0.82 (5)      0.17 (9)      N/A        N/A  
    

 

 

      

 

 

    

 

 

    

 

 

   

 

 

   

 

 

    

 

 

 
                                  

(1) Preference securities dividends include coupon payments (gross of tax credits) on the Additional Tier 1 notes issued in 2014 and accounted for as Additional Equity components. Coupon payments are, however discretionary and subject to certain restrictions and are paid on April 30 for the preceding interest paying period.

2016 Amount of the deficiency

(2) The amount of the deficiency is 1,265.

(3) The amount of the deficiency is 1,265.

(4) The amount of the deficiency is 1,598.

(5) The amount of the deficiency is 1,598.

2015 Amount of the deficiency

(6) The amount of the deficiency is 6,261.

(7) The amount of the deficiency is 6,262.

(8) The amount of the deficiency is 6,530.

(9) The amount of the deficiency is 6,531.

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.