Deutsche Bank investors urge bank to keep lid on costs

Deutsche Bank investors on Thursday called on the German lender at its annual shareholder meeting to keep a ‌lid ⁠on costs, ⁠with some pledging to vote against a motion to raise pay for the bank's chairman.

The meeting, the first in-person gathering since before the coronavirus ​pandemic started in ⁠2019, follows ‌one of the ​bank's biggest ​annual profits in years ⁠as it recovered from a string ​of crises.

"What matters now is strict cost discipline. Those who keep their costs under control reduce their dependence on the macroeconomic environment," said Alexandra Annecke, ‌portfolio manager with Union Investment.


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Andreas Thomae of Deka Investment called ​on ​management to improve ⁠efficiency.

"Growth is important, but profitability is even more important," Thomae said.

Both said they ​would vote against a motion that would increase the pay of the bank's chairman.