Deutsche Bank chief executive Josef Ackermann saw his compensation package increase almost one fifth to €11.9m ($14.4m) last year after the bank met his 25% return on equity target for the first time.

Ackermann's pay package jumped 18% from €10.1m in 2004 as the cash bonus component of his compensation rose from €5m to €7.2m, on top of his €1.15m basic salary. He also received share-based compensation worth €3.5m, according to Deutsche Bank's annual report filed today.