{"id":18879,"date":"2022-03-14T07:35:15","date_gmt":"2022-03-14T14:35:15","guid":{"rendered":"https:\/\/marketdepth.com\/?p=18879"},"modified":"2022-03-14T07:40:17","modified_gmt":"2022-03-14T14:40:17","slug":"deutsche-bank-shares-surged-after-announcing-slow-down-in-russian-operations","status":"publish","type":"post","link":"https:\/\/marketdepth.com\/deutsche-bank-shares-surged-after-announcing-slow-down-in-russian-operations\/","title":{"rendered":"Deutsche Bank Shares Surged After Announcing Slow Down in Russian Operations"},"content":{"rendered":"\n

Deutsche Bank (NYSE: DB)<\/strong> shares surged 12% after announcing plans to slow down its Russia operations amid the ongoing war. The German firm is currently helping its non-Russian multinational clients roll back their activity. The action comes after intense backlash for previously opting to stay in the country following its invasion of Ukraine.<\/p>\n\n\n\n

“Like some international peers and in line with our legal and regulatory obligations, we are in the process of winding down our remaining business in Russia while we help our non-Russian multinational clients in reducing their operations. There won’t be any new business in Russia.”<\/p>Deutsche Bank said Friday in a statement<\/cite><\/blockquote>\n\n\n\n

\u201cThere won\u2019t be any new business in Russia,\u201d it added.<\/p>\n\n\n\n

Institutions Leaving Russia<\/h5>\n\n\n\n

Similarly, big name institutions such as Goldman Sachs, JPMorgan Chase and HSBC, also announced that they would be scaling down operations in Russia as major corporations continue to distance themselves from the country. Nevertheless, according to Bloomberg, the company\u2019s CEO Christian Sewing explained to staff that the bank could not completely pull out of Russia.\u00a0<\/p>\n\n\n\n

\u201cWe are often asked why we are not withdrawing completely from Russia. The answer is that this 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.\u201d<\/p>Sewing said in the memo, according to Bloomberg<\/cite><\/blockquote>\n","protected":false},"excerpt":{"rendered":"Deutsche Bank (NYSE: DB) shares surged 12% after announcing plans to slow down its Russia operations amid the ongoing war. The German firm is currently helping its non-Russian multinational clients roll back their activity. The action comes after intense backlash for previously opting to stay in the country following its invasion of Ukraine. “Like some… View Article<\/a>","protected":false},"author":3,"featured_media":18880,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"pmpro_default_level":0,"footnotes":""},"categories":[10,31,11,16],"tags":[],"acf":[],"yoast_head":"\nDeutsche Bank Shares Surged After Announcing Slow Down in Russian Operations - MarketDepth<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/marketdepth.com\/deutsche-bank-shares-surged-after-announcing-slow-down-in-russian-operations\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Deutsche Bank Shares Surged After Announcing Slow Down in Russian Operations - MarketDepth\" \/>\n<meta property=\"og:description\" content=\"Deutsche Bank (NYSE: DB) shares surged 12% after announcing plans to slow down its Russia operations amid the ongoing war. 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