The bonus pot for the 2021 financial year contains €2.1 billion ($2.31 billion) in total, 14% more than a year earlier, the Frankfurt-based group announced on Friday on the occasion of the publication of its annual report.

The executive board will also receive significantly more: The managers will receive a combined remuneration of around €66.5 million, compared to €50 million last year.

The executive board has 10 members, but the sum will be divided among 11 executives because there had been a change in personnel during the year.

Due to the financial burden of the coronavirus pandemic, the executive board had waived one twelfth of its annual remuneration for 2020.

The total remuneration for group chief executive Christian Sewing rose from around €7.4 million to €8.8 million this year.

Including the board members, 520 employees of Deutsche Bank receive a total remuneration of more than €1 million each. At least four received more than Sewing.

The highest single reward was between €10-11 million.

Last year, Deutsche Bank achieved its best annual net profit since 2011, coming to €2.5 billion after taxes.