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Deutsche Bank cuts bonus pool by 80% on legal costs

Frankfurt

DEUTSCHE Bank AG cut its 2016 bonus pool by almost 80 per cent, a figure unmatched in the bank's recent history, as it tries to recover from legal expenses that wiped out profit and eroded capital levels.

The lender is reducing payouts with an eye towards shareholders and is aware it will be "frustrating" for employees, chief administrative officer Karl von Rohr told Frankfurter Allgemeine Sonntagszeitung in an interview.

The measure will affect about a quarter of the 100,000 staff, the German...

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