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Frankfurt / Main (dpa) - After its first net profit, Deutsche Bank has been distributing more bonuses to the board of directors and employees since 2014.
The variable remuneration for employees increases by 29 percent to a total of 1.9 billion euros, as the Frankfurt Dax group announced on Friday when it published its annual report.
However, with a view to the macroeconomic consequences of the corona pandemic, the board of directors wants to set an example: According to the information, the management team is foregoing one twelfth of its annual salary.
Supervisory board chairman Paul Achleitner joins this approach, it said.
Many employees in the highest management levels also forego payment of one month's salary.
The remuneration of the Deutsche Bank Management Board increased from 36 million euros in 2019 to 50 million euros now, despite the partial waiver by the managers.
If the salary and bonuses had been paid out in full, the sum would have been as much as 4.6 million euros higher.
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However, the board had also grown from eight to ten members in the respective annual average.
Meanwhile, the bonuses in the group are distributed among fewer employees overall.
The number of full-time positions at Deutsche Bank fell by 2,938 to 84,659 in the past year.
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