On Friday, Deutsche Bank (DBKGn.DE) announced that Chief Executive Christian Sewing received 8.9 million euros ($9.49 million) in 2022, up from 8.8 million euros a year earlier, for a third straight year of profit and reaching major restructuring targets.
The total bank bonus pool was 2.1 billion euros, unchanged from a year earlier.
The payout ends the lender’s best year since 2007. After years of losses, Sewing managed the bank’s 9-billion-euro, four-year recovery.
According to its Friday annual report, the bank expects revenues to rise from 28 billion euros to 29 billion euros in 2023. However, it predicted flat investment bank revenues.
Deutsche cited economic uncertainties, the Ukrainian war, the US-China rivalry, and inflation.