Deutsche Bank Flags $30 Billion Exposure to Private Credit

Deutsche Bank AG flagged a €26 billion ($30 billion) exposure to private credit, an asset class that’s grappling with fund redemptions, scrutiny of underwriting standards and the impact of AI on some borrowers such as software makers.

The German lender’s private credit portfolio increased to €25.9 billion of loans at amortized cost last year, from €24.5 billion in 2024, according to its annual report published Thursday. The lender said it is not exposed to “significant risks” related to non-bank financial institutions, but that it could face potential indirect risks through interconnected portfolios and counterparties.