No share buyback is a scam

Share buyback programs

The 2020 Annual General Meeting authorized the Management Board to buy back up to 10% of the share capital (206.7 million shares) by the end of April 2025. Of this, up to 5% (103.3 million shares) can be acquired through the use of derivatives. These authorizations replace the approvals of the 2019 Annual General Meeting.
By the end of the first quarter of 2021, 28.7 million shares had been bought back under this new authorization. Treasury's stock of repurchased shares as of March 31, 2021 was 3.7 million shares.

Share buyback program 2020/2021

Share buyback program 2019/20

Authorization: May 23, 2019 at the Annual General Meeting
May 23, 2019 to May 20, 2020:Buyback of 33,800,000 shares
Average rate:EUR 7.76 per share
Share capital upon completion of the share buyback program 2019/20:2,066,773,131 shares
Final reportPDF

When the share buyback program was completed, the bank had around 10.5 million of its own shares as part of the buyback program. The repurchases of the completed program amounted to 33.8 million shares, which were used in the same period to meet employee claims for share-based compensation or in the upcoming period for share compensation purposes. Deutsche Bank has not withdrawn any shares since the 2019 Annual General Meeting.

Share buyback program 2018/19

Authorization:May 24, 2018 at the Annual General Meeting
May 24, 2018 to May 23, 2019:Buyback of 24,341,000 shares
Average rate:EUR 8.33 per share
Share capital upon completion of the share buyback program 2018/19:2,066,773,131 shares
Final reportPDF

When the share buyback program was completed, the bank's holdings of treasury shares under the buyback program totaled 1.7 million. The repurchases of the completed program amounted to around 24.3 million shares, which were used in the same period to meet employee claims for share-based compensation or in the upcoming period for share compensation purposes. Deutsche Bank has not withdrawn any shares since the 2018 Annual General Meeting.

Share buyback program 2017/18

Authorization:May 18, 2017 at the Annual General Meeting
May 18, 2017 to May 24, 2018:Buyback of 22,835,998 shares
Average rate:EUR 14.27 per share
Share capital upon completion of the share buyback program 2017/18:2,066,773,131 shares
Final reportPDF

At the end of the share buyback program, the bank's holdings of treasury shares under the buyback program were 1.3 million. The repurchases of the completed program amounted to around 22.8 million shares, which were used in the same period to meet employee claims for share-based compensation or in the upcoming period for share compensation purposes. Deutsche Bank has not withdrawn any shares since the 2017 Annual General Meeting.

Share buyback program 2016/17

Authorization:May 19, 2016 at the Annual General Meeting
May 19, 2016 to May 18, 2017:Buyback of 14,788,656 shares
Average rate:EUR 16.59 per share
Share capital upon completion of the share buyback program 2016/17:2,066,773,131 shares
Final reportPDF

At the end of the share buyback program, the bank's holdings of own shares as part of the buyback program were 1.2 million. The repurchases of the completed program amounted to around 14.8 million shares, which were used in the same period to meet employee claims for share-based compensation or in the upcoming period for share compensation purposes. Deutsche Bank has not withdrawn any shares since the 2016 Annual General Meeting.

Share buyback program 2015/16

Authorization:May 21, 2015 at the Annual General Meeting
May 21, 2015 to May 19, 2016:Buyback of 37,900,963 shares
Average rate:EUR 22.83 per share
Share capital upon completion of the share buyback program 2015/16:1,379,273,131 shares
Final reportPDF

At the end of the share buyback program, the bank's holdings of treasury shares under the buyback program were 12.1 million. The repurchases of the completed program amounted to approximately 37.9 million shares, which were used in the same period to meet employee claims for share-based compensation or in the upcoming period for share compensation purposes. Deutsche Bank has not withdrawn any shares since the 2015 Annual General Meeting.

Share buyback program 2014/15

Authorization:May 22, 2014 at the Annual General Meeting
May 22, 2014 to May 21, 2015:Buyback of 25,608,000 shares
Average rate:EUR 26.06 per share
Share capital upon completion of the share buyback program 2014/15:1,379,273,131 shares
Final reportPDF

At the end of the share buyback program, the bank's holdings of own shares as part of the buyback program amounted to 0.2 million. The repurchases of the completed program amounted to around 25.6 million shares, which were used to meet employee claims from share-based compensation. Deutsche Bank has not withdrawn any shares since the 2014 Annual General Meeting.

Share buyback program 2013/14

Authorization:May 23, 2013 at the Annual General Meeting
May 23, 2013 to May 22, 2014:Buyback of 31,331,800 shares
Average rate:EUR 33.12 per share
Share capital upon completion of the share buyback program 2013/14:1,019,499,640 shares
Final reportPDF

When the share buyback program was completed, the bank's holdings of own shares as part of the buyback program were close to zero. The repurchases of the completed program amounted to around 31.3 million shares, which were used to meet employee entitlements from share-based compensation. Deutsche Bank has not withdrawn any shares since the 2013 Annual General Meeting.

Share buyback program 2012/13

Authorization:May 31, 2012 at the Annual General Meeting
May 31, 2012 to May 23, 2013:Buyback of 16,777,646 shares
Average rate:EUR 32.71 per share
Share capital upon completion of the share buyback program 2012/13:1,019,499,640 shares
Final reportPDF

At the end of the share buyback program, the bank had 46 shares in its own shares as part of the buyback program. This stock is the result of 10.9 million shares held by the bank at the time of the 2012 Annual General Meeting, plus the repurchases of the completed program. Of this, around 27.7 million shares were used to meet employee claims from share-based compensation. Deutsche Bank has not withdrawn any shares since the 2012 Annual General Meeting.

Share buyback program 2011/12

Authorization:May 26, 2011 at the Annual General Meeting
May 27, 2011 to May 31, 2012:Buyback of 42,267,195 shares
Average rate:EUR 33.31 per share
Share capital upon completion of the share buyback program 2011/12:929,499,640 shares
Final reportPDF

At the end of the share buyback program, the bank had 10.9 million shares in its own shares as part of the buyback program. This stock is the result of 7.6 million shares held by the bank at the 2011 Annual General Meeting, plus the repurchases of the completed program. Of this, around 38.9 million shares were used to meet employee claims from share-based compensation. Deutsche Bank has not withdrawn any shares since the 2011 Annual General Meeting.

Share buyback program 2010/11

Authorization:May 27, 2010 at the Annual General Meeting
July 27, 2010 to May 19, 2011:Buyback of 28,540,876 shares
Average rate:EUR 46.93 per share
Share capital upon completion of the share buyback program 2010/11:929,499,640 shares
Final reportPDF

At the end of the share buyback program, the bank had 7.6 million shares in its own shares as part of the buyback program. This stock is the result of 1.0 million shares held by the bank at the 2010 Annual General Meeting plus the repurchases of the completed program. Of this, around 22.0 million shares were used to meet employee entitlements from share-based compensation. Deutsche Bank has not withdrawn any shares since the 2010 Annual General Meeting.

Share buyback program 2009/10

Authorization:May 26, 2009 at the Annual General Meeting
July 30th to August 12th 2009 and January 28th to February 10th 2010:Buyback of 22,732,024 shares
Average rate:EUR 45.74 per share
Share capital upon completion of the share buyback program 2009/10:620,859,015 shares
Final reportPDF

At the end of the share buyback program, the bank had 1 million shares in its own shares as part of the buyback program. This stock is the result of 2.6 million shares held by the bank at the time of the 2009 Annual General Meeting plus the repurchases of the completed program. Of this, around 24.3 million shares were used to meet employee claims from share-based compensation. Deutsche Bank has not withdrawn any shares since the 2009 Annual General Meeting.

No share buyback program 2008/9

No share buyback program was carried out in 2008/9

Share buyback program 2007/8

Authorization:May 24, 2007 at the Annual General Meeting
May 30, 2007 to May 29, 2008:Buyback of 7,155,200 shares
Average rate:EUR 101.14 per share
Share capital upon completion of the 2007/8 share buyback program:530,531,431 shares
Final reportPDF

At the end of the share buyback program, the bank's holdings of own shares as part of the buyback program totaled 24.9 million shares. This stock is the result of 23.3 million shares held by the bank at the 2007 Annual General Meeting, plus the repurchases of the completed program. Of this, around 5.5 million shares were used to secure share compensation programs. Deutsche Bank has not withdrawn any shares since the 2007 Annual General Meeting.