Deutsche Bank top management gets bonuses for first time in four years

Outside view of the Deutsche Bank headquarters in Frankfurt March 17, 2019. — Reuters pic
Outside view of the Deutsche Bank headquarters in Frankfurt March 17, 2019. — Reuters pic

FRANKFURT, March 22 — Deutsche Bank’s management board members were handed their first bonuses in four years, according to the bank’s annual report published today.

The management board received total pay, including bonuses, of €55.7 million (RM257.28 million) in 2018, up from €29.8 million a year earlier, Deutsche Bank’s annual report said.

The bank’s bonus pool for 2018 was €1.9 billion, down 14 per cent from €2.3 billion a year earlier. The decline is partly due to a reduction in headcount, the bank said.

Litigation costs are also expected to be “significantly higher” in 2019 than in 2018, the bank also said in the report.

Deutsche Bank is talking to rival Commerzbank about a proposed merger, which unions have said could result in big job cuts. — Reuters