Commerzbank management board's pay declined 24 pct in 2018 - annual report

Commerzbank's chief executive officer took a 32 percent pay cut in 2018, according to the bank's annual report on Wednesday. Total compensation for Martin Zielke was 1.97 million euros, down from 2.88 million euros in 2017. Pay for the management board of the German bank, which is in talks with Deutsche Bank to merge, declined 24 percent.

Commerzbank is Germany's second-largest listed bank. The bank is present in more than 50 countries around the world and provides almost a third of Germany's trade finance.