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 revealed on Friday, rewarding him for a third straight year of profit and for reaching key milestones in the German bank’s restructuring.
The set of premiums for the entire bank amounted to 2.100 billion euros, basically the same as a year earlier.
The remuneration crowns the bank’s most profitable year since 2007. Sewing led the bank through a €9 billion conversion plan over four years after years of losses, for which it is one of the world’s most systemically important banks.
For 2023, the bank expects revenue to rise slightly to between 28 billion and 000 billion euros, according to its annual report on Friday. In investment banking, revenues will remain flat, according to their forecasts.
Deutsche highlighted risks to its outlook, which include the economy, the war in Ukraine, U.S.-China tension and inflation.
(1 US dollar = 0.9378 euros)