Deutsche Bank AG’s retail bank head Christian Sewing is urging the lender’s top management to waive their 2016 bonuses if financial results remain lackluster.
In an interview with German newspaper Bild, the top executive said if “we don’t pay our shareholders a dividend, then our own bonus must be put up for debate.” Deutsche Bank scrapped bonuses for its top management last year after posting a record annual loss.
This year is not looking any brighter for the German lender, which posted a 98% slump in profit in the second quarter due to weak performances in trading and investment banking. Deutsche Bank shares in July slumped to an all-time low, prompting an exclusion from the Stoxx 50 index. Shares dropped 1.3% on Wednesday.