Deutsche Bank's Board won't get any bonuses amidst record loss

2016 has not started well for Deutsche Bank - the company reported a £5.3billon loss in 2015.

And now the Executive Board will not get any bonuses for last year. John Cryan, Co-CEO at Deutsche Bank, said that the decision by the bank’s Supervisory Board was “not a surprise” given the scale of the loss, the Financial Times reports.

“By and large, I think we are underpaying against our international peer group this year, and I hope that many staff understand why,” Cryan said, according to the New York Times. “The bonus pool this year will be down by a fair amount on the previous year. I think that’s right.”

Cryan stepped up to the role in June last year. He has since worked to re-organise the bank.