Deutsche Bank says full Russia exit would 'go against our values'
"We have clients who cannot exit Russia overnight. And, as far as we can, we will continue to also support them, too, at this difficult time," he added at the time. Deutsche Bank has significantly reduced its Russian exposure and local footprint since 2014.
Deutsche Bank has significantly reduced its Russian exposure and local footprint since 2014, with further reductions over the past two weeks., Deutsche Bank has a net loan exposure to Russia of 0.6 billion euros after taking account of guarantees and asset collateral. Gross loan exposure is 1.4 billion euros , around 0.3% of the overall loan book. Meanwhile, net loan exposure to Ukraine is 42 million euros and gross exposure is 0.6 billion euros.
In addition, the bank said the operational risk from a potential closure of its technology center in Russia is also well contained, adding that it presents "no significant business continuity risk to the functioning of Deutsche Bank’s global operations." The center has around 1,500 employees who make up approximately 5% of the company's internal and external technology workforce.
"The bank sees production risk as manageable and has stress-tested the ability of its other technology centres around the world, including in Asia, to cover the Russian service centre’s development capabilities," Deutsche Bank added.
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