Deutsche Bank has continued to pay staff very well (until now?)

Rewarding staff at a steady level despite sliding profits.

Deutsche Bank has continued to pay staff roughly the same amount as it did a decade ago, despite the financial crisis and a collapse in profits, according to a Reuters analysis of its financial reports.

The news agency reports that Germany's biggest bank paid its staff more than 13 billion euros (11 billion pound) in total last year, including benefits and bonuses, despite making a loss of almost 6.8 billion euros. That level of pay was about the same as in 2007, when it made a profit of around 6.5 billion euros.

This year, staff received more than 9 billion euros in the nine months to September, while profit in that time was about 500 million euros, according to its reports.

The payouts show how Deutsche Bank, which recently had to deny speculation that it would be rescued by Germany as it faces a heavy U.S. penalty for selling toxic mortgage securities, rewards staff at a steady level despite sliding profits.

By comparison Swiss rival UBS reduced its staff costs by almost 1 billion Swiss francs to just under 16 billion francs ($15.55 billion) in 2015, compared with 2010.

Britain's Royal Bank of Scotland, as it retrenched in investment banking, and Barclays, which did not, also reduced staff costs over this time.

Hit the link below to access the complete Reuters article:

Deutsche Bank's staff pay stays high, come rain or shine

Global regulators pile pressure on banks over accounting rule

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