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February 7, 2014updated 04 Apr 2017 2:31pm

Deutsche Bank limits bonuses for bankers at €300,000 – report

Under pressure from regulators to rein in compensation, German banking giant Deutsche Bank has reportedly decided to cap bonuses for its bankers at €300,000 (US$400,000) for a second year.

By Verdict Staff

Under pressure from regulators to rein in compensation, German banking giant Deutsche Bank has reportedly decided to cap bonuses for its bankers at €300,000 (US$400,000) for a second year.

An unindeitified source familiar with the developmenet told Reuters that the bank’s pay structure will be identical to that of 2012.

The report added that the Frankfurt-based bank will spread its deferred pay over three years, with one-third of the amount paid in 2015, 2016 and 2017. Half of the amount will be in cash and half is in shares.

For bonuses of between €100,000 and €200,000, half will be deferred.

From €200,000 to €500,000 bonuses, 75% will be deferred, for bonuses of €500,000 to €1m 85% will be deferred, and any bonuses more than €1m will be fully deferred, according to Reuters.

For 2013, bonuses are expected to be flat or even slightly reduced at most banks compared to 2012.

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