Deutsche Bank has no near-term plan to exit Russia

The corporate world, in recent weeks, has been pulling out of Russia in response to Putin’s military operation in Ukraine, but Deutsche Bank AG (NYSE: DB) seems to have a different stance.

Deutsche Bank to continue operations in Russia

According to CFO James von Moltke of the German investment bank, it’s not “practical” to cease operations in Russia. This morning on CNBC’s “Squawk Box Europe”, he said:

We’re there to support our clients. So, for practical purposes, that isn’t an option available to us. Nor would it be the right thing to do in terms of managing those client relationships and helping them to manage their situation.

He, however, confirmed that Deutsche Bank will reconsider its response if geopolitical tensions continue to escalate, making its clients terminate their business in Russia.

Deutsche Bank has limited exposure to Russia

The finance chief also reiterated that Deutsche Bank had “very limited” exposure to Russia and that the German multinational had successfully managed the market risk from the Ukraine war. He added:

The market will always react to a crisis and the scenarios that unfold and look at the downside scenarios first. I think then, over time, we’re able to provide more information, we’re able to talk about our trajectory.

In contrast, both Goldman Sachs and JPMorgan on Thursday announced plans of winding down operations in Russia.

The post Deutsche Bank has no near-term plan to exit Russia appeared first on Invezz.

Disclaimer:, its managers, its employees, and assigns (collectively "The Company") do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

Copyright © 2022 All Rights Reserved.

To Top