Clean Break: the company completely halting Russian engagements or exiting Russia
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Deutsche Bank
Deutsche Bank
Deutsche Bank AG is a German multinational investment bank and financial services company headquartered in Frankfurt, Germany, and dual-listed on the Frankfurt Stock Exchange and the New York Stock Exchange. The bank's network spans 58 countries with a large presence in Europe, the Americas, and Asia.
Clean Break: the company completely halting Russian engagements or exiting Russia
Leave WithdrawalGlob.Revenue, mln.USD
33427
Russian Deutsche Bank earned 5.4 billion rubles of net profit in 2022. It has increased by 5.8 times and has become a record since at least 1999. A Russian court has ordered Deutsche Bank to discontinue an ICC claim against a Gazprom venture over stalled work on a gas processing plant, despite the UK Supreme Court ruling that the dispute belonged in arbitration.
The Company Statement
May 18, 2024
Wind down business in Russia. Deutsche Bank is winding down its remaining software centers in Moscow and St. Petersburg and plans to cut 500 jobs. About 500 employees of IT centers who still remain in Russia will be offered to resign within six months with severance pay. Deutsche Bank has told clients it can no longer guarantee full access to Russian stocks that belong to them. Rushimalliance filed claims for 31 billion rubles against Deutsche Bank and Commerzbank. Gazprom arm seeks foreclosure on Deutsche Bank Russia businesses. Deutsche Bank and Commerzbank blocked Gazprom subsidiary's Russian lawsuits. A Russian court has ordered that Deutsche Bank's and Commerzbank's assets, accounts, property and shares be seized in Russia as part of a lawsuit involving the German banks, court documents showed. Russian court injuncts Deutsche Bank’s ICC claim against Gazprom venture.
| October 22, 2024 | Russian court injuncts Deutsche Bank’s ICC claim against Gazprom venture |
| September 17, 2024 | Russia's RusChemAlliance sues five European banks over aborted gas project |
| May 29, 2024 | The Russian court partially satisfied the claim for the withdrawal of €239 million from Deutsche Bank |
| May 29, 2024 | The Russian court partially satisfied the claim for the withdrawal of €239 million from Deutsche Bank |
| May 20, 2024 | Unicredit, because Russia has seized accounts and assets for 463 million (but the stock is holding up). Orcel's moves and EU banks in Putin's sights |
| November 16, 2023 | Western investors spooked as Moscow mulls compulsory share purchase plan |
| October 11, 2023 | Deutsche Bank, Commerzbank block Gazprom subsidiary's Russian lawsuits |
| July 04, 2023 | Rushimalliance filed claims for 31 billion rubles against Deutsche Bank and Commerzbank |
| June 26, 2023 | Shares and investments are gone. Russia robbed Deutsche Bank customers - Reuters |
| June 26, 2023 | Exclusive: Deutsche Bank tells investors some of their Russian shares are missing |
| April 21, 2023 | The Russian "subsidiary" of Deutsche Bank grew a record profit |
| April 20, 2023 | Final record: The Russian structure of Deutsche Bank ended 2022 with a profit of 5.4 billion rubles. |
| April 12, 2023 | Deutsche Bank to close IT centers in Russia and lay off 500 workers - FT |
| April 12, 2023 | Deutsche Bank to close down its remaining IT operations in Russia |
| March 17, 2023 | Annual Report 2022 |
| March 11, 2022 | Statement on business activities in Russia |
| March 11, 2022 | Statement on business activities in Russia |
| March 11, 2022 | Statement on Russia |
| Deutsche Bank in Russia |
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