Deutsche Bank reduces activities in its Russian IT centre

Deutsche Bank has largely made itself independent of its Russian technology centre, more than one year after the start of Russia's full-scale invasion of Ukraine, according to a report, said dpa.

"We are reducing our activities in the Russian technology centre," a spokesman for the institute said on Wednesday when asked. "Therefore, we have expanded the available options for our employees there and offer to terminate the employment relationship by mutual agreement in addition to a relocation or continued employment locally."

According to a report in the German business daily Handelsblatt, the locations in Moscow and St Petersburg could be closed in the foreseeable future. The previous tasks as well as the know-how have largely been transferred to other locations of the bank, the paper reported, citing several people familiar with the matter.

According to the report, more than 700 of the original 1,500 employees now work for the bank outside Russia, and another 300 have found new jobs. So far, fewer than 500 Deutsche Bank employees in Russia have stayed.

The programmers from Moscow and St Petersburg developed and maintained internally used software for the corporate bank and the investment bank. Until last year, they were also responsible for fixing problems that arose in the use of software, the paper wrote.