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Report: Deutsche Bank To Close IT Operations in Russia

  • #Finance
  • #Germany
  • #France
story
APR 2023
Image copyright: Seeking Alpha
story last updated APR 2023

The Spin

Anti-Russia narrative

Deutsche Bank has rightfully made multiple statements condemning Russia’s invasion of Ukraine and has been working to wind down its Russia-related activities. While completely shuttering all Russian business couldn't happen overnight, the bank has taken the necessary step to reduce its dealings and reliance on Russian technology.

DB

Pro-Russia narrative

Deutsche Bank has been waffling as it looks to comply with the West’s anti-Russian stance while maintaining its financial benefits from Russian technology. That’s why the German lender quietly offered to relocate hundreds of its Russian employees. Deutsche Bank wants to leave Russia, but it needs Russians to grow its technology center.

TASS

Metaculus Prediction