Deutsche Bank mulls cuts to Russian provision

Deutsche Bank is mulling a wholesale restructuring of its Russian operations according to recent media reports.

The UK-based Economic News Daily says the bank’s plans contemplate deep cuts to Deutsche Bank’s Russian trading and investment-banking business.

Money laundering concerns

Concern about potential money-laundering by Russian clients, through equity trades handled by Deutsche Bank, has urged an internal review and investigations by European and US regulators according to the report.

It is unclear whether the review will contemplate cuts in the bank’s trade finance provision.

Wider review

The bank said in July that it was reviewing the activities of its trading and investment activities while reports have emerged that Deutsche Bank is being investigated by UK, US and German regulators over whether its Russian operations have breached anti money-laundering laws.

Sources reportedly say that the bank could cut as many as 200 jobs in its Russian operations and may also be contemplating cuts in other jurisdictions.



Categories: Trade Based Financial crimes News

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s