Deutsche Bank CEO paid 8.9 million euros in 2022

DEUTSCHE Bank paid chief executive Christian Sewing 8.9 million euros (S$12.7 million) in 2022, up slightly from 8.8 million euros a year earlier, the bank disclosed on Friday (Mar 17), rewarding him for a third consecutive year of profit and for hitting key milestones in the lender’s restructuring.

The bonus pool for the entire bank was 2.1 billion euros, flat from a year earlier.

The pay amount caps the lender’s most profitable year since 2007. Sewing led the bank through a nine-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 revenue to between 28 billion euros and 29 billion euros, as indicated by its annual report on Friday.

Deutsche highlighted risks to its outlook, which include the economy, the war in Ukraine, tension between the US and China, and inflation. REUTERS