Deutsche Bank on Thursday defended its decision not to cease its operations in Russia in the wake of its invasion of Ukraine, stating that it is “not practical” to do so. Speaking to CNBC, the German bank’s chief financial officer James von Moltke said exiting the country would “not be the right thing to do” with regards to its clients that still operate in Russia. The CEO did not specifically name any of the bank’s clients in Russia. “We’re there to support our clients. And so, for practical purposes, that isn’t an option that’s available to us. Nor would it be the right thing to do in terms of managing those client relationships and helping them to manage their situation,” Moltke said. However, Moltke acknowledged that the bank would monitor the situation going forward and would reconsider its current stance if the political situation between Ukraine and Russia were to further escalate, prompting …
‘For Practical Purposes, That Isn’t an Option’: Deutsche Bank Defends Decision Not to Exit Russia
March 11, 2022
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