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Deutsche Bank: billions in bonuses and million-severance pay

The German Bank pays for the previous fiscal year to 1.9 billion euros in bonuses. Especially, the management Board has increased his income significantly.

The biggest German Bank pays for the last fiscal year to its nearly 92.000 employees a total of 1.9 billion euros in bonuses. This is one of the on Friday published the annual report of the largest German money house. For 2017, the workforce, which was at the time, however, bigger had been given, 2.3 billion Euro. The number of income millionaires at Deutsche Bank decreased 2018 643 of 705 in the year before.

Chairman of the Board Christian Sewing self-2018 received a total salary of seven million euros - the increased income as a Chairman of the Board, but only for nine months.

Sewings predecessor John Cryan maintained a severance pay of close to 8.7 million euros. This includes a contractually agreed compensation for a ban in a certain period of time come to go to a competitor, in the amount of 2.2 million euros. In addition, he got a compensation for his time at the head of the group up to 8. April in the amount of almost 1.9 million Euro.

The remuneration for the Board of management is, together, to 55.7 million euros. A year earlier, the income of the Top-Manager was 29.8 million Euro, also because they had not received bonuses.

The rising income of the Board is associated with a significant improvement in business results. In the past year, the group earned below the line to EUR 341 million, after prior-year loss of 735 million euros in the previous year.

Fusion in the view

in addition to the annual report is also the subject of a merger with Commerzbank is still on the agenda. According to the "Bild"-Zeitung, the potential transaction could mean that around 500 stores to be closed. In the case of a merger, the costs would be significantly reduced, because both the Institute could save around a third branch, was quoted by the newspaper, insiders of the two banks. Commerzbank currently has over 1,000 branches and Deutsche Bank around 530.

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source: boerse.ard.de merger talks with Commerzbank, 17.03.2019 Trumps Deals with Deutsche Bank, 21.02.2019 Deutsche Bank: it Creates reversing the trend?, 31.01.2019 Atlas |Germany |Frankfurt am Main Dax: how terrible! Elon Musk makes pace the First plane cancellations at Boeing

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