FT learned about the closure of Deutsche Bank IT centers in Moscow and St. Petersburg
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Deutsche Bank will close two of its software development centers in Moscow and St. Petersburg, reported The Financial Times, citing a source.
“We continue to reduce the risks of our operations in the Russian technology center and have expanded the opportunities available to our employees, including mutually agreed termination along with relocation and retention on the platform [банка]”, Deutsche Bank said.
The bank has not yet announced the complete cessation of the work of software development centers in the Russian Federation, but the source of the newspaper assured that the organization considers the issue resolved. According to the FT, 500 programmers working in Russia were offered to move to Germany or voluntarily resign with severance pay.
After the start of the military operation in Ukraine, the German bank announced the complete closure of its business in the Russian Federation. At the same time, the organization began reducing work in the country back in 2014. According to the February report in 2022, the bank reduced the volume of loans related to Russian borrowers by 42% to 806 million euros.
In the summer of 2022, Deutsche Bank moved “hundreds” of employees of Moscow and St. Petersburg IT centers to Berlin, then more about this reported FT. As of the beginning of 2022, 1,500 people worked in the Russian software development centers of the bank.
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