Deutsche Bank (DB) 6-K Current report (foreign)

Exhibit 99.3

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

	Three months ended			Year Ended			Year Ended		Year Ended
	Mar 31, 2009			Dec 31, 2008			Dec 31, 2007		Dec 31, 2006
in€ millions, except ratios
Earnings:
1. Income (loss) before income tax expense		1,815			(5,741	)		8,749		8,339
2. Add: Fixed charges excluding capitalized interest (Line 10)		5,020			42,350			56,062		51,452
3. Less: Net income (loss) from equity method investments		(187	)		46			353		419
4. Earnings including interest on deposits		7,023			36,563			64,458		59,372
5. Less: Interest on deposits		1,751			13,015			17,371		14,025
6. Earnings excluding interest on deposits		5,272			23,548			47,087		45,347
Fixed Charges:
7. Interest Expense		4,956			42,096			55,826		51,267
8. Estimated interest component of net rental expense		64			254			236		185
9. Amortization of debt issuance expense		—			—			—		—
10. Total fixed charges including interest on deposits and excluding capitalized interest		5,020			42,350			56,062		51,452
11. Add: Capitalized interest		—			—			—		—
12. Total fixed charges		5,020			42,350			56,062		51,452
13. Less: Interest on deposits (Line 5)		1,751			13,015			17,371		14,025
14. Fixed charges excluding interest on deposits		3,269			29,335			38,691		37,427
Consolidated Ratios of Earnings to Fixed Charges:
Including interest on deposits (Line 4/Line 12)		1.40			0.86			1.15		1.15
Excluding interest on deposits (Line 6/Line 14)		1.61			0.80			1.22		1.21

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.

For the year ended December 31, 2008, earnings did not cover fixed charges by€ 5,787 million, both including and excluding interest on deposits, as a result of a loss before income tax expense recorded during the year.