Deutsche Bank has now confirmed that it is to close its investment banking business in Moscow, as we noted on 2011, following allegations of bankers laundering around $6bn from September 18 to 2015 on behalf of its Russian clients. Deutsche Bank states that the reasons for the move are due to sanctions, investigations into share trades and Russia's economic slowdown.
Deutsche Bank has now confirmed that it is to close its investment banking business in Moscow, as we noted on September 18, following allegations of bankers laundering around $6bn from 2011 to 2015 on behalf of its Russian clients. Deutsche Bank states that the reasons for the move are due to sanctions, investigations into share trades and Russia's economic slowdown.