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Deutsche Bank cuts bonus pool by 80% on legal costs
Add BT as a preferred sourcePublished Mon, Feb 27, 2017 · 09:50 PM
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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.
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