v3.25.4
Business Segments and Related Information - Segment Results of Operations (Detail)
€ in Millions
 12 Months Ended
Dec. 31, 2025
EUR (€)
employee
Dec. 31, 2024
EUR (€)
employee
Dec. 31, 2023
EUR (€)
employee
Disclosure of operating segments [line items]      
Net revenues [1] € 31,434 € 31,504 € 31,155
Provision for credit losses 1,707 1,830 1,505
Noninterest expenses      
Compensation and benefits 11,813 11,731 11,131
General and administrative expenses 8,860 11,243 10,112
Impairment of goodwill and other intangible assets 0 0 233
Restructuring activities (15) (3) 220
Total noninterest expenses 20,658 22,971 21,695
Noncontrolling interests 0 0 0
Profit (loss) before income taxes 9,069 6,703 7,955
Assets 1,440,000 1,391,000 1,317,000
Loans (gross of allowance for loan losses) 484,000 490,000 485,000
Additions to non-current assets 2,042 2,091 2,118
Deposits 695,000 668,000 625,000
Average allocated shareholders' equity 68,543 66,353 63,149
Risk-weighted assets 347,000 357,000 350,000
of which: operational risk RWA 63,000 [2] 58,000 [3] 57,000 [4]
Leverage exposure € 1,327,000 € 1,316,000 € 1,240,000
Employees (full-time equivalent) | employee 89,879 89,753 90,130
Post-tax return on average shareholders equity 8.50% [5],[6] 5.50% [7],[8] 9.10% [9],[10]
Post-tax return on average tangible shareholders' equity 9.40% [5],[6] 6.20% [7],[8] 10.20% [9],[10]
Cost/income ratio 65.70% [11] 72.90% [12] 69.60% [13]
Includes:      
Net interest income € 15,673 € 15,161 € 16,122
Net income (loss) from equity method investments (6) 12 (38)
Includes:      
Equity method Investments 924 1,028 1,013
Corporate Bank      
Disclosure of operating segments [line items]      
Net revenues 7,400 7,506 7,718
Provision for credit losses 194 347 266
Noninterest expenses      
Compensation and benefits 1,632 1,611 1,539
General and administrative expenses 2,971 3,448 3,088
Impairment of goodwill and other intangible assets 0 0 0
Restructuring activities 0 (1) (4)
Total noninterest expenses 4,603 5,058 4,623
Noncontrolling interests 0 0 0
Profit (loss) before income taxes 2,603 2,101 2,828
Assets [14],[15] 323,000 280,000 264,000
Loans (gross of allowance for loan losses) [14] 120,000 117,000 117,000
Additions to non-current assets 14 12 13
Deposits [14] 329,000 313,000 289,000
Average allocated shareholders' equity 12,199 11,681 11,280
Risk-weighted assets 72,000 78,000 69,000
of which: operational risk RWA [14],[16] 11,000 [2] 11,000 [3] 6,000 [4]
Leverage exposure € 358,000 € 339,000 € 307,000
Employees (full-time equivalent) | employee [14] 27,320 26,280 25,356
Post-tax return on average shareholders equity 14.10% [5],[6] 11.90% [7],[8] 17.10% [9],[10]
Post-tax return on average tangible shareholders' equity 15.30% [5],[6] 12.70% [7],[8] 18.50% [9],[10]
Cost/income ratio [17] 62.20% [11] 67.40% [12] 59.90%
Includes:      
Net interest income € 4,567 € 4,987 € 5,241
Net income (loss) from equity method investments 4 (1) (6)
Includes:      
Equity method Investments 101 90 91
Investment Bank      
Disclosure of operating segments [line items]      
Net revenues [18] 11,541 10,557 9,160
Provision for credit losses 827 549 431
Noninterest expenses      
Compensation and benefits 2,894 2,690 2,534
General and administrative expenses 3,782 3,970 4,082
Impairment of goodwill and other intangible assets 0 0 233
Restructuring activities 0 0 (3)
Total noninterest expenses 6,675 6,660 6,846
Noncontrolling interests 16 5 3
Profit (loss) before income taxes 4,022 3,344 1,880
Assets [19],[20] 736,000 756,000 658,000
Loans (gross of allowance for loan losses) [20] 115,000 110,000 101,000
Additions to non-current assets 6 3 89
Deposits [20] 28,000 22,000 18,000
Average allocated shareholders' equity 23,967 23,631 22,953
Risk-weighted assets 136,000 130,000 140,000
of which: operational risk RWA [20],[21] 18,000 [2] 15,000 [3] 22,000 [4]
Leverage exposure € 602,000 € 593,000 € 546,000
Employees (full-time equivalent) | employee [20] 20,592 20,065 19,899
Post-tax return on average shareholders equity 10.80% [5],[6] 9.10% [7],[8] 4.90% [9],[10]
Post-tax return on average tangible shareholders' equity 11.20% [5],[6] 9.40% [7],[8] 5.10% [9],[10]
Cost/income ratio [22] 57.80% [11] 63.10% [12] 74.70% [13]
Includes:      
Net interest income € 4,681 € 3,372 € 2,887
Net income (loss) from equity method investments (69) (46) (70)
Includes:      
Equity method Investments 264 379 413
Private Bank      
Disclosure of operating segments [line items]      
Net revenues 9,665 9,386 9,571
Provision for credit losses 578 851 783
Noninterest expenses      
Compensation and benefits 2,795 2,938 2,808
General and administrative expenses 3,958 4,395 4,718
Impairment of goodwill and other intangible assets 0 0 0
Restructuring activities (15) (3) 228
Total noninterest expenses 6,738 7,331 7,755
Noncontrolling interests 0 0 0
Profit (loss) before income taxes 2,348 1,204 1,032
Assets [23],[24] 316,000 324,000 331,000
Loans (gross of allowance for loan losses) [23] 247,000 257,000 261,000
Additions to non-current assets 65 160 90
Deposits [25] 329,000 320,000 308,000
Average allocated shareholders' equity 14,763 13,995 13,681
Risk-weighted assets 92,000 97,000 86,000
of which: operational risk RWA [23],[26] 15,000 [2] 14,000 [3] 8,000 [4]
Leverage exposure € 326,000 € 336,000 € 339,000
Employees (full-time equivalent) | employee [23] 35,443 37,059 38,465
Post-tax return on average shareholders equity 10.10% [5],[6] 5.10% [7],[8] 4.50% [9],[10]
Post-tax return on average tangible shareholders' equity 10.50% [5],[6] 5.10% [7],[8] 4.80% [9],[10]
Cost/income ratio [27] 69.70% [11] 78.10% [12] 81.00% [13]
Includes:      
Net interest income € 6,169 € 5,786 € 6,156
Net income (loss) from equity method investments 4 21 (5)
Includes:      
Equity method Investments 102 102 84
Asset Management      
Disclosure of operating segments [line items]      
Net revenues 3,077 2,649 2,383
Provision for credit losses (2) (1) (1)
Noninterest expenses      
Compensation and benefits 952 919 891
General and administrative expenses 871 904 934
Impairment of goodwill and other intangible assets 0 0 0
Restructuring activities 0 0 0
Total noninterest expenses 1,823 1,823 1,825
Noncontrolling interests 272 194 163
Profit (loss) before income taxes 983 632 396
Assets [28],[29] 11,000 11,000 10,000
Loans (gross of allowance for loan losses) 0 0 0
Additions to non-current assets 20 30 73
Deposits 0 0 0
Average allocated shareholders' equity 5,218 [30] 5,329 5,103
Risk-weighted assets 16,000 18,000 15,000
of which: operational risk RWA [28],[31] 5,000 [2] 5,000 [3] 3,000 [4]
Leverage exposure € 10,000 € 10,000 € 10,000
Employees (full-time equivalent) | employee [28] 5,425 5,166 4,961
Post-tax return on average shareholders equity 12.90% [5],[6] 8.00% [7],[8] 5.20% [9],[10]
Post-tax return on average tangible shareholders' equity 29.10% [5],[6] 18.00% [7],[8] 12.20% [9],[10]
Cost/income ratio [32] 59.26% [11] 68.81% [12] 76.57% [13]
Includes:      
Net interest income € 24 € 25 € (124)
Net income (loss) from equity method investments 52 36 42
Includes:      
Equity method Investments 453 451 420
Corporate & Other      
Disclosure of operating segments [line items]      
Net revenues (249) 1,406 2,324
Provision for credit losses 108 83 26
Noninterest expenses      
Compensation and benefits 3,541 3,574 3,358
General and administrative expenses (2,721) (1,474) (2,710)
Impairment of goodwill and other intangible assets 0 0 0
Restructuring activities 0 0 (1)
Total noninterest expenses 819 2,100 647
Noncontrolling interests (289) (199) (166)
Profit (loss) before income taxes (887) (577) 1,817
Assets 54,000 21,000 54,000
Loans (gross of allowance for loan losses) 3,000 5,000 6,000
Additions to non-current assets 1,938 1,886 1,853
Deposits 8,000 13,000 10,000
Average allocated shareholders' equity 12,396 11,717 10,132
Risk-weighted assets 31,000 34,000 40,000
of which: operational risk RWA 14,000 [2] 13,000 [3] 19,000 [4]
Leverage exposure € 32,000 € 38,000 € 39,000
Employees (full-time equivalent) | employee 1,099 1,183 1,449
Includes:      
Net interest income € 231 € 991 € 1,963
Net income (loss) from equity method investments 3 2 2
Includes:      
Equity method Investments € 5 € 6 € 5
[1] Consolidated net revenues comprise interest and similar income, interest expenses and total noninterest income (including net commission and fee income); revenues are
attributed to countries based on the location in which the Group’s booking office is located; the location of a transaction on the Group’s books is sometimes different
from the location of the headquarters or other offices of a customer and different from the location of the Group’s personnel who entered into or facilitated the
transaction; where the Group records a transaction involving its staff and customers and other third parties in different locations frequently depends on other
considerations, such as the nature of the transaction, regulatory considerations and transaction processing considerations
[2] 4 Starting from the first quarter of 2024, the allocation of operational risk RWA has changed. For more information, please refer to section “Note 04 - Business segments
and related information” of this report
[3] Starting from the first quarter of 2024, the allocation of operational risk RWA has changed. Prior periods have been updated accordingly. For more information, please
refer to section “Note 04 - Business segments and related information” of this report
[4] Starting from the first quarter of 2024, the allocation of operational risk RWA has changed. Prior periods have been updated accordingly. For more information, please
refer to section “Note 04 - Business segments and related information” of this report
[5] 5 Starting from the first quarter of 2024, the equity allocation framework has been updated. For more information, please refer to section “Note 04 - Business segments and
related information” of this report
[6] 6 Post-tax return on average shareholders’ equity and average tangible shareholders’ equity at the Group level reflect the reported effective tax rate for the Group, which
was 25% for the year ended December 31, 2025; for post-tax return on average shareholders’ equity and average tangible shareholders’ equity of the segments, the
Group effective tax rate was adjusted to exclude the impact of permanent differences not attributed to the segments, so that the segment tax rates were 28% for the
year ended December 31, 2025; for further information, please refer to “Supplementary Information (Unaudited): Non-GAAP Financial Measures” of this report
[7] Starting from the first quarter of 2024, the equity allocation framework has been updated. Prior periods have been updated accordingly. For more information, please
refer to section “Note 04 - Business segments and related information” of this report
[8] The post-tax return on average shareholders’ equity and average tangible shareholders’ equity at the Group level reflects the reported effective tax rate for the Group,
which was 33% for the year ended December 31, 2024; for the post-tax return on average shareholders’ equity and average tangible shareholders’ equity of the
segments, the Group effective tax rate was adjusted to exclude the impact of permanent differences not attributed to the segments, so that the segment tax rates were
28% for the year ended December 31, 2024; for further information, please refer to “Supplementary Information (Unaudited): Non-GAAP Financial Measures” of this
report
[9] Starting from the first quarter of 2024, the equity allocation framework has been updated. Prior periods have been updated accordingly. For more information, please
refer to section “Note 04 - Business segments and related information” of this report
[10] The post-tax return on average shareholders’ equity and average tangible shareholders’ equity at the Group level reflects the reported effective tax rate for the Group,
which was 19% for the year ended December 31, 2023; for the post-tax return on average shareholders’ equity and average tangible shareholders’ equity of the
segments, the Group effective tax rate was adjusted to exclude the impact of permanent differences not attributed to the segments, so that the segment tax rates were
28% for the year ended December 31, 2023; for further information, please refer to “Supplementary Information (Unaudited): Non-GAAP Financial Measures” of this
report
[11] 7Noninterest expenses as a percentage of total net revenues, which are defined as net interest income before provision for credit losses plus noninterest income
[12] 6Noninterest expenses as a percentage of total net revenues, which are defined as net interest income before provision for credit losses plus noninterest income
[13] Noninterest expenses as a percentage of total net revenues, which are defined as net interest income before provision for credit losses plus noninterest income
[14] As of year-end
[15] Segment assets are presented on a consolidated basis, i.e., the amounts do not include intersegment balances
[16] Starting from the first quarter of 2024, the allocation of operational risk RWA has changed. For more information, please refer to section “Note 04 - Business segments
and related information” of this report
[17] Noninterest expenses as a percentage of total net revenues, which are defined as net interest income before provision for credit losses plus noninterest income
[18] 4Starting from the first quarter of 2025, the representation of revenue sharing between Corporate Bank and Investment Bank has changed. For more information, please
refer to section “Note 04 - Business segments and related information” of this report
[19] 6Segment assets are presented on a consolidated basis, i.e., the amounts do not include intersegment balances
[20] 5As of year-end
[21] 7 Starting from the first quarter of 2024, the allocation of operational risk RWA has changed. For more information, please refer to section “Note 04 - Business segments
and related information” of this report
[22] 8Noninterest expenses as a percentage of total net revenues, which are defined as net interest income before provision for credit losses plus noninterest income
[23] 3As of year-end
[24] 4Segment assets are presented on a consolidated basis, i.e., the amounts do not include intersegment balances
[25] 2Starting from the fourth quarter of 2025, the Private Bank renamed “Wealth Management & Private Banking” to “Wealth Management”
[26] 5Starting from the first quarter of 2024, the allocation of operational risk RWA has changed. For more information, please refer to section “Note 04 - Business segments
and related information” of this report
[27] 7Noninterest expenses as a percentage of total net revenues, which are defined as net interest income before provision for credit losses plus noninterest income
[28] 1As of year-end
[29] 2Segment assets are presented on a consolidated basis, i.e., the amounts do not include intersegment balances
[30] 3 Starting from the fourth quarter 2025, the equity allocation framework for Asset Management has been updated. For more information, please refer to section “Note 04 -
Business segments and related information” of this report
[31] 3Starting from the first quarter of 2024 the allocation of operational risk RWA has changed. For more information, please refer to section “Note 04 - Business segments
and related information” of this report
[32] 5Noninterest expenses as a percentage of total net revenues, which are defined as net interest income before provision for credit losses plus noninterest income