Allowance for Credit Losses (Tables)

12 Months Ended

Dec. 31, 2025

Allowance for Credit Losses [Abstract]

Development of allowance for credit losses for financial assets at amortized cost


	Dec 31, 2025
	Allowance for Credit Losses1
in € m.	Stage 1	Stage 2	Stage 3	Stage 3 POCI2	Total
Balance, beginning of year	438	736	4,412	213	5,799
Movements in financial assets including new business and credit extensions	(90)	178	1,663	9	1,760
Transfers due to changes in creditworthiness	119	(85)	(35)	N/M	—
Changes due to modifications that did not result in derecognition	N/M	N/M	N/M	N/M	N/M
Changes in models3	(63)	91	(155)	—	(127)
Financial assets that have been derecognized during the period4	—	—	(1,002)	—	(1,002)
Recovery of written off amounts	—	—	164	—	164
Foreign exchange and other changes	18	(33)	(447)	25	(437)
Balance, end of reporting period	421	888	4,600	247	6,156
Provision for Credit Losses excluding country risk5	(34)	185	1,473	9	1,633

N/M – Not meaningful

1 Allowance for credit losses does not include allowance for country risk amounting to € 7 million as of December 31, 2025

2 The total amount of undiscounted expected credit losses at initial recognition on financial assets that are purchased or originated credit-impaired initially recognized

during the reporting period was € 74 million in 2025 and € — million in 2024

3 Changes in models primarily reflect LGD model update and changes to the SICR model

4 This position represents charge offs of allowance for credit losses

5 Movements in financial assets including new business, transfers due to changes in creditworthiness and changes in models add up to Provision for Credit Losses excluding

country risk


	Dec 31, 2024
	Allowance for Credit Losses1
in € m.	Stage 1	Stage 2	Stage 3	Stage 3 POCI2	Total
Balance, beginning of year	447	680	3,960	198	5,285
Movements in financial assets including new business and credit extensions	(150)	194	1,814	3	1,861
Transfers due to changes in creditworthiness	128	(128)	—	N/M	—
Changes due to modifications that did not result in derecognition	N/M	N/M	N/M	N/M	N/M
Changes in models	(2)	(7)	—	—	(9)
Financial assets that have been derecognized during the period³	—	—	(1,229)	—	(1,229)
Recovery of written off amounts	—	—	157	—	157
Foreign exchange and other changes	15	(3)	(290)	11	(267)
Balance, end of reporting period	438	736	4,412	213	5,799
Provision for Credit Losses excluding country risk4	(24)	59	1,814	3	1,852

N/M – Not meaningful

1 Allowance for credit losses does not include allowance for country risk amounting to € 14 million as of December 31, 2024

2 The total amount of undiscounted expected credit losses at initial recognition on financial assets that are purchased or originated credit-impaired initially recognized

during the reporting period was €— million in 2024 and €— million in 2023

3This position represents charge offs of allowance for credit losses

4Movements in financial assets including new business, transfers due to changes in creditworthiness and changes in models add up to Provision for Credit Losses excluding

country risk


	Dec 31, 2023
	Allowance for Credit Losses1
in € m.	Stage 1	Stage 2	Stage 3	Stage 3 POCI2	Total
Balance, beginning of year	533	626	3,656	180	4,995
Movements in financial assets including new business and credit extensions	(195)	294	1,647	32	1,778
Transfers due to changes in creditworthiness	170	(150)	(20)	N/M	—
Changes due to modifications that did not result in derecognition	N/M	N/M	N/M	N/M	N/M
Changes in models	(57)	(53)	—	—	(110)
Financial assets that have been derecognized during the period³	—	—	(1,145)	(52)	(1,197)
Recovery of written off amounts	—	—	93	—	93
Foreign exchange and other changes	(3)	(38)	(271)	38	(273)
Balance, end of reporting period	447	680	3,960	198	5,285
Provision for Credit Losses excluding country risk4	(83)	92	1,627	32	1,668

N/M – Not meaningful

1 Allowance for credit losses does not include allowance for country risk amounting to € 4 million as of December 31, 2023

2 The total amount of undiscounted expected credit losses at initial recognition on financial assets that are purchased or originated credit-impaired initially recognized

during the reporting period was € — million in 2023 and € 46 million in 2022

3This position represents charge offs of allowance for credit losses

4Movements in financial assets including new business, transfers due to changes in creditworthiness and changes in models add up to Provision for Credit Losses excluding

country risk

Allowance for credit losses for financial assets at fair value through OCI

Allowance for credit losses for financial assets at fair value through OCI1


	December 31, 2025
	Allowance for Credit Losses
in € m.	Stage 1	Stage 2	Stage 3	Stage 3 POCI	Total
Fair Value through OCI	12	22	14	—	48

1 Allowance for credit losses against financial assets at fair value through OCI remained at very low levels (€ 38 million at December 31, 2024 and € 48 million as of

December 31, 2025). Due to immateriality, no details on the year-over-year development is provided.


	December 31, 2024
	Allowance for Credit Losses
in € m.	Stage 1	Stage 2	Stage 3	Stage 3 POCI	Total
Fair Value through OCI	12	16	10	—	38

1Allowance for credit losses against financial assets at fair value through OCI were almost unchanged at very low levels (€ 48 million at December 31, 2023 and

€ 38 million as of December 31, 2024). Due to immateriality, no details on the year-over-year development is provided.


	December 31, 2023
	Allowance for Credit Losses
in € m.	Stage 1	Stage 2	Stage 3	Stage 3 POCI	Total
Fair Value through OCI	13	13	22	—	48

1Allowance for credit losses against financial assets at fair value through OCI were almost unchanged at very low levels (€ 69 millionat December 31, 2022 and € 48 million

as of December 31, 2023, respectively). Due to immateriality, no details on the year-over-year development is provided.

Development of allowance for credit losses for Off-balance sheet positions

Development of allowance for credit losses for off-balance sheet positions


	Dec 31, 2025
	Allowance for Credit Losses1
in € m.	Stage 1	Stage 2	Stage 3	Stage 3 POCI	Total
Balance, beginning of year	106	82	173	—	361
Movements including new business	(12)	25	38	2	53
Transfers due to changes in creditworthiness	4	(2)	(2)	N/M	—
Changes in models	—	—	—	—	—
Foreign exchange and other changes	—	(8)	(13)	—	(21)
Balance, end of reporting period	98	96	196	2	393
of which: Financial guarantees	55	47	81	—	184
Provision for Credit Losses excluding country risk2	(8)	23	36	2	53

N/M – Not meaningful

1The above table breaks down the impact on provision for credit losses from movements in financial assets including new business, transfers due to changes in

creditworthiness and changes in models

2Allowance for credit losses does not include allowance for country risk amounting to € 12 million as of December 31, 2025


	Dec 31, 2024
	Allowance for Credit Losses1
in € m.	Stage 1	Stage 2	Stage 3	Stage 3 POCI	Total
Balance, beginning of year	117	88	187	—	393
Movements including new business	(22)	3	(19)	—	(38)
Transfers due to changes in creditworthiness	10	(9)	—	N/M	—
Changes in models	—	—	—	—	—
Foreign exchange and other changes	1	(1)	5	—	6
Balance, end of reporting period	106	82	173	—	361
of which: Financial guarantees	67	49	99	—	214
Provision for Credit Losses excluding country risk2	(13)	(6)	(20)	—	(38)

N/M – Not meaningful

1The above table breaks down the impact on provision for credit losses from movements in financial assets including new business, transfers due to changes in

creditworthiness and changes in models

2Allowance for credit losses does not include allowance for country risk amounting to € 2 million as of December 31, 2024


	Dec 31, 2023
	Allowance for Credit Losses1
in € m.	Stage 1	Stage 2	Stage 3	Stage 3 POCI	Total
Balance, beginning of year	144	97	310	—	551
Movements including new business	(39)	(3)	(118)	—	(160)
Transfers due to changes in creditworthiness	11	(4)	(7)	N/M	—
Changes in models	—	—	—	—	—
Foreign exchange and other changes	1	(2)	3	—	2
Balance, end of reporting period	117	88	187	—	393
of which: Financial guarantees	84	37	113	—	234
Provision for Credit Losses excluding country risk2	(28)	(7)	(125)	—	(160)

N/M – Not meaningful

1The above table breaks down the impact on provision for credit losses from movements in financial assets including new business, transfers due to changes in

creditworthiness and changes in models

2Allowance for credit losses does not include allowance for country risk amounting to € 9 million as of December 31, 2023