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Deutsche Bank announces curtailing its corporate banking and securities business in Russia

Such a decision was made to reduce complexity of processes, costs, risks and capital use, the bank said

© EPA/FRANK RUMPENHORST

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MOSCOW, September 17. /TASS/. Deutsche Bank announced curtailing of its Russian Corporate Banking and Securities (CB&S) business in Russian within the framework of reviewing the geography of its presence, the bank said on Thursday.

Such a decision was made to reduce complexity of processes, costs, risks and capital use, the bank said.

The Russian Corporate Banking and Securities business of the bank will continue servicing its customers from international offices, Deutsche Bank said. It is expected that the transitional period and closing of CB&S unit in Russia will continue until the end of 2015, the bank said.

At the same time, bank’s Global Transaction Banking (GTB) unit continues its operations in Russia, Deutsche Bank said.

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