Deutsche Bank paid Chief Executive Christian Sewing 8.9 million euros ($9.49 million) in 2022, up slightly from 8.8 million euros a year earlier, the bank disclosed on Friday, rewarding him for a third consecutive year of profit and hitting key milestones in the lender's restructuring.
The bonus pool for the entire bank was 2.1 billion euros, basically flat from a year earlier.
The pay caps the lender's most profitable year since 2007. Sewing led the bank through a 9-billion-euro, four-year turnaround plan for what is one of the world's most systemically important banks after years of losses. For 2023, the bank forecast a slight increase in revenues to between 28 billion euros and 29 billion euros, according to its annual report on Friday. At the investment bank, revenues will be flat, it forecast.
Deutsche highlighted risks to its outlook, which include the economy, the war in Ukraine, tension between the United States and China, and inflation.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
SVB, Signature Bank failure explained - USA TODAYHow worried should Americans be about recent bank collapses? usatodaymoney reporter Medora Lee puts things in perspective with 5 Things podcast host atltwil:
Read more »
The CEO of Silicon Valley Bridge Bank is asking customers to returnThe CEO of Silicon Valley Bridge Bank is asking customers to return. But spooked Americans are moving billions out of smaller banks and into Wall Street giants.
Read more »
Chuck Schumer, Dems rush to give back donations from Silicon Valley Bank CEOTop Democrats in Washington are rushing to give back or donate funds they received from Silicon Valley Bank and its leadership after the company collapsed last week.
Read more »
New Silicon Valley Bank CEO tells employees: 'We are open for business'“We are open for business, making new loans, processing payments and offering all the solutions we’ve been known for,” the new CEO of Silicon Valley Bank said during an all-hands meeting, according to one person who was on the call.
Read more »
Chart: Silicon Valley Bank CEO's stock holdingsThe value of SVB Financial CEO Greg Becker's shareholdings collapsed along with the bank he led.
Read more »