Berlin - With the threat of recession looming large over Germany, the chief of the nation's biggest bank is to forego his bonus for the year, according a media report Friday.

In an interview with a Sunday German newspaper released ahead of publication, Deutsche Bank chief Josef Ackermann said he decided against taking the bonus to show solidarity with his bank's employees during the current tough economic climate.

"I told the Deutsche Bank supervisory board that I am giving up my bonus in this difficult year in favour of hard-working staff who need the money more than I do," Ackermann told the Bild am Sonntag.