Deutsche Bank prepares to close Russian tech centers

Deutsche Bank, one of the largest banks in Germany, is preparing to close its technology centers in Russia, where about 1,500 people work.

In the news of the German business newspaper Handelsblatt, it was claimed that Deutsche Bank, which announced that it would “gradually” end its activities in Russia after the Ukraine-Russia war, became largely independent of Russian technology centers in this period.

On news that such technology centers in Moscow and St. Petersburg will be shut down soon, it was reported that employees who develop the software used in the bank’s investment unit have been offered to leave the bank on severance pay.

MORE THAN 700 EMPLOYEES WORK OUTSIDE RUSSIA

Last year, Deutsche Bank offered all its Russian employees the opportunity to voluntarily relocate to the newly established technology center or to other technology centers in Berlin.

More than 700 of the bank’s 1,500 employees in Russia currently work for the bank outside of Russia.

On the other hand, due to the post-war sanctions against Russia, many German companies directed their Russian employees to Germany.

Since March 2022, German diplomatic missions abroad have issued some 9,200 work visas to Russian citizens, according to the German Foreign Ministry. (AA)