Deutsche Bank bosses' pay soars

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Deutsche Bank bosses' pay soars

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The Co-Chief Executives of Deutsche Bank saw their compensation rise by over 50 percent last year as the bank more than doubled its net profit.

For Anshu Jain and Jürgen Fitschen it was their first full year running Germany’s largest lender. Jain got nine million euros, Fitschen received eight million.

The bank paid out a total of 38 percent more to its management board last year compared with 2012.

Overall, its total pay bill fell slightly to 9.9 billion euros from 10.2 billion in 2012.

Deutsche Bank said it is on track to meet its targets in investment banking for next year.

It has deemed 2014 a make or break year as it cuts costs, slashes its balance sheet and recovers from a a long list of scandals.

The bank’s 2013 results were restated to include around 350 million euros of settlement costs and around 50 million more to cover impaired assets.