ZURICH (Reuters) – 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 disclosed on Friday, rewarding him for a third consecutive year of profit and hitting key milestones in the lender’s restructuring.
The bonus pool for the entire bank was 2.1 billion euros, basically flat from a year earlier.
The pay caps the lender’s most profitable year since 2007. Sewing led the bank through a 9-billion-euro, four-year turnaround plan for what is one of the world’s most systemically important banks after years of losses.
For 2023, the bank forecast a slight increase in revenues to between 28 billion euros and 29 billion euros, according to its annual report on Friday. At the investment bank, revenues will be flat, it forecast.
Deutsche highlighted risks to its outlook, which include the economy, the war in Ukraine, tension between the United States and China, and inflation.
($1 = 0.9378 euros)
(Reporting by Tom Sims and Marta Orosz; Editing by Miranda Murray)