Deutsche Bank may withhold 90% of bonuses, New York Post says

Pedestrians pass a Deutsche Bank AG bank branch in central Warsaw, Poland.
Pedestrians pass a Deutsche Bank AG bank branch in central Warsaw, Poland.PHOTO: BLOOMBERG

SINGAPORE (BLOOMBERG) - Deutsche Bank may withhold bonuses from as many as 90 per cent of its bankers and traders, the New York Post reported, citing unidentified people briefed on internal talks.

Only the top 10 per cent are expected to receive a bonus for 2016, and those payments may be spread out over the next five years, the newspaper said. The bonus plans are still under discussion and could change over coming weeks, the Post reported.

A Deutsche Bank spokeswoman in Hong Kong declined to comment.

The German bank has been exploring alternatives to paying bonuses in cash as it seeks to build capital buffers and shore up investor confidence, people familiar with the matter have said. One idea under review is replacing the cash component with more Deutsche Bank stock, they said.