Deutsche Bank and LBBW. 1500 euros and 2000 euros inflation bonus

Dhe Management Board of Deutsche Bank has decided to pay full-time employees in Germany who are paid according to the collective agreement 1,500 euros as compensation for the sharply rising prices. Discussions are currently taking place between the employee representatives and Deutsche Bank on a corresponding company agreement.

This is the prerequisite for the payment of such a bonus and regulates the group of beneficiaries, wrote Deutsche Bank in an employee information sheet available to the FAZ. Accordingly, Deutsche Bank plans to make an initial payment of 1,500 euros with the December salary in December 2022. The Executive Board will “decide in due course” on a second payment in 2023.

Deutsche Bank is thus taking advantage of a federal government regulation that allows employers to give employees a tax- and duty-free inflation bonus of up to EUR 3,000 up to December 31, 2024. On Tuesday, the board of directors of Landesbank Baden-Württemberg decided on an inflation bonus for all of its employees in Germany totaling EUR 2,000. The bonus will be paid out in two steps, an initial amount of 1,200 euros is to be transferred by December 1st, the remaining 800 euros will follow in February next year. Apprentices, part-time employees and employees on parental leave also benefit fully from the special payment.

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On the other hand, full-time employees in the branches of Postbank and Deutsche Bank in particular benefit from the extra payment from Deutsche Bank, less so the employees in the head office or in investment banking, who tend to be paid higher non-tariff payments. LBBW and Deutsche Bank join forces with their extra payments, which are intended to help cushion the higher costs of energy and food in particular a number of banks, industrial companies such as Airbus, BASF, Bayer and Covestro and service providers such as Fresenius and Sixt. The conspicuous willingness to spend, especially in the lending industry, may come as a surprise at first glance, since the financial sector is a shrinking industry that has not earned its capital costs for years and could now be faced with loan defaults in view of the looming recession.

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