Deutsche Bank made higher losses than expected last year. Nevertheless, the institute will pay billions in bonus.
Despite the third annual loss in a row, Deutsche Bank is paying its employees a billion dollar bonus for the last year. The last annual report of Germany's largest financial institution shows that the total variable compensation for the company's about 97,500 employees amounts to €2,275 billion. The bank had distributed only 546 million euros in bonuses in the year before.
In addition, the bank announced the final numbers for 2017. The loss was even higher than estimated in January and amounts to 735 million euros last year. Initially, the Deutsche Bank chart had reported a loss of nearly half a billion euros.
In 2016, the bank made a loss of 1.4 billion euros, in 2015, the minus was 6.8 billion euros.
Because of the defizit the top management again renounces its bonus. CEO John Cryan received a base salary of 3.4 million euros in 2017, 400,000 euros less than the year before. This happened due to a change in the remuneration rules. The bank wants to pay shareholders a minimal dividend of 11 cents per share.
Source: dpa, Reuters
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