Deutsche Bank wants to end its activities in Russia, the German bank announced on Twitter on Friday evening. “We strongly condemn the Russian invasion of Ukraine and support the German government and its allies in defending our democracy and freedom“, she confirmed. Deutsche Bank adds to the major banks that are withdrawing from Russia following the invasion of Ukraine.
American giants Goldman Sachs and JPMorgan Chase preceded Deutsche Bank. Initially, the German bank did not want to withdraw from Russia, but now it seems that the situation is deteriorating. “We are winding down our remaining operations“, specified Deutsche Bank on Twitter. We help our non-Russian customers to reduce their assets (in Russia, editor’s note).”
No new activity will be launched in Russia either, it was further clarified. According to a spokesperson, however, this is only a financial withdrawal from Russia, and Deutsche Bank’s IT center in the country is not affected. This is where the majority of the bank’s 1,700 Russian employees work.
