Top firm boss says exec bonuses should be waived again this year

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Deutsche Bank's top management should waive executive bonuses for a second year if the lender's results remain poor, retail bank head Christian Sewing told Bild in comments published on Wednesday.

"What's clear is that if we don't pay our shareholders a dividend, then our own bonus must be put up for debate," the newspaper quoted Sewing as saying.

Reuters reports that the lender has warned it may need deeper cost cuts to turn itself around after profit and revenue fell sharply in the second quarter amid challenging markets and low interest rates.

Deutsche Bank's top management earlier this year denied itself bonus payments for 2015.

The bank is standing by its plans to sell retail unit Postbank, although it is under no pressure to divest the division, Sewing added.

To access the complete Reuters article hit the link below:

Deutsche Bank retail chief urges bonuses be waived for second year: Bild

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