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Wednesday, June 20, 2018

Deutsche Bank to pay staff 2b euros in bonuses for 2017

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Deutsche Bank said on Sunday its 2017 bonus pool would be above 2 billion euros ($2.46 billion), as the loss-making bank seeks to retain staff during a major overhaul. But the bank's top managers are foregoing their annual bonuses for 2017 after coming under fire for awarding big incentive payouts even though Germany's largest bank lost money last year.

"Variable compensation for the whole bank will be somewhat over 2 billion euros," Deutsche board member Karl von Rohr told news agency Deutsche Presse-Agentur (DPA).The sacrificing of bonuses for the management board "isn't because we are of the opinion that we did a bad job."

-Reuters, Frankfurt

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