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Deutsche Bank may cut bonuses after reporting loss.

Global Banking News-3 February 2009-Deutsche Bank may cut bonuses after reporting loss(C)2009 ENPublishing - http://www.enpublishing.co.uk

Global Banking News - 03 February 2009(c)2005 - Electronic News Publishing - http://www.enpublishing.co.uk

Germany-based Deutsche Bank AG (NYSE: DB), considered to be Germany's biggest bank, is planning to cut bonuses at an average of 60 percent after reporting a loss.

It is believed that business units that were hardest hit by the financial crisis - such as structured products and proprietary trading - would face larger reductions than foreign exchange and commodities operations. The chief executive and other top executives of the bank are to forego their bonuses, and the bank has decided to slash variable pay.

[Editorial queries for this story should be sent to gbn@enpublishing.co.uk]

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Publication:Global Banking News (GBN)
Date:Feb 3, 2009
Words:140
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