Deutsche Bank to resume normal bonuses, some to get raises – CEO

Deutsche Bank will resume the payment of normal bonuses for 2017, the bank’s chief told a German newspaper, and some employees will get raises.

CEO John Cryan, in an interview with the Boersen-Zeitung newspaper published on Saturday, also welcomed plans by Britain to spare European banks costly capital rules after Brexit.

But staff were still analysing any potential costs of US tax reform, he said.

Bonus payments at Deutsche Bank fell to €546 million in 2016 from €2.4 billion a year earlier after a multibillion-dollar legal fine for the sale of toxic debt.

“We always said that we would return to our normal system of variable compensation in 2017,” Mr Cryan told the newspaper. “And we will also raise salaries in some areas,” he said, without providing more detail.

The still fragile state of Germany’s biggest bank was underlined when it reported a drop of almost 25 per cent in third quarter investment bank revenue and a drop of more than a third in its bond trading division.

In addition to weak earnings, the bank has been grappling with the uncertainty of Britain’s decision to leave the European Union.

This month, the Bank of England said that it was planning to allow large...