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Deutsche Bank management board to receive bonuses for first time since 2014

Deutsche Banks management board members were awarded bonuses this year for the first time since 2014 as the bank returned to profit, it disclosed today.

The board received €55.7m (£48.2m) for 2018, compared to €29.8m the previous year.

Read more: Deutsche Bank drops down investment bank table while Barclays gains ground

Chief executive Christian Sewing received €7m, up from €3.4m the previous year.

The bank reported net income of €341m for 2018, its first full-year profit since 2014 and up from a loss of €735m the previous year.

Sewing said: “With a return to profitability, reinforced controls and a strong balance sheet, we laid firm foundations for controlled growth which is now our strategic priority.”

Deutsche is currently in merger talks with fellow German bank Commerzbank to create a national banking champion with the government as a major shareholder.

Read more: Germany is forcing a bank marriage that may not work

The merged bank would have around €1.8 trillion in assets and a market value of €25bn – holding one fifth of Germany's retail banking markets and employing 140,000 people around the world.

The proposed merger has come under fire from unions which warn it coulRead More

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