The supervisory board draws conclusions from the chaos in the private customer business.
It especially affects a manager.
Frankfurt/Main - Decline in profits and Postbank chaos have reduced the remuneration of the Deutsche Bank board of directors for the 2023 financial year.
Including bonuses, the eleven managers working over the year, headed by CEO Christian Sewing, earned a good 64.6 million euros after around 64.9 million euros a year earlier.
The Frankfurt DAX group announced this on Thursday when it presented its annual report.
Because of the problems at the subsidiary Postbank, the supervisory board cut short-term variable remuneration for almost all board members.
In particular, the then deputy CEO Karl von Rohr, who was responsible for the private customer sector at the time and has since left the bank, had to give up: the control committee cut off a good half of his short-term bonuses.
Von Rohr's total remuneration was a good 5.3 million euros, well below the around 7.3 million in the previous year, although the manager was only on Deutsche Bank's pay slip in 2023 until the end of October.
In connection with an IT change, Postbank received an increasing number of complaints from customers who were temporarily no longer able to access accounts or complained about delays in building financing.
The financial regulator Bafin sent a special supervisor to the bank.
Contrary to what CEO Sewing promised in the fall, not all problems could be resolved by the end of 2023.
Sewing's total compensation was also lower at a good 8.7 million euros; for the 2022 financial year it was a good 8.9 million euros.
However, CFO and Group Vice President James von Moltke has improved significantly, with his total remuneration rising from around 7.1 million euros to a good 7.6 million euros.
Part of these sums will only be paid out with a delay depending on the success of the business.
The total remuneration of employees in the Deutsche Bank Group rose by one percent to 10.3 billion euros within a year because the financial institution employed more people than the year before.
The bonus pot for employees, however, shrank by six percent to 2.0 billion euros.
Last year, Deutsche Bank achieved its highest profit before taxes in 16 years at almost 5.7 billion euros.
The bottom line, however, was that there was a decline in profits: the surplus attributable to shareholders fell by around 16 percent to 4.2 billion euros.
dpa