Deutsche Bank mulls waiving 2020 management bonuses due to coronavirus: source

FRANKFURT (Reuters) – Deutsche Bank is discussing whether it will waive bonuses for its management board in 2020 due to the fallout from the coronavirus crisis, a person with knowledge of the matter said on Wednesday.

The discussion comes after the European Banking Authority on Tuesday said banks should be “conservative” in how they award bonuses to preserve capital and keep lending to an economy hit by the coronavirus outbreak.

A decision hasn’t been made yet but the bank is likely to result in waiving bonuses for top board members, the person said.

Handelsblatt first reported that Deutsche Bank was considering the measure.

(Reporting by Patricia Uhlig; Writing by Tom Sims; Editing by Madeline Chambers)