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Deutsche Bank gives vote of confidence to Bucharest, investing €14.6mn in tech centre

posted onAugust 21, 2019
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Deutsche Bank invests a further €14.6mn in DB Global Technology, the German lender's technology centre in Bucharest, to further develop its business in Romania.

The centre which opened almost 6 years ago  following an investment of EUR 10 million 
develops financial applications for the bank's global operations, such as in treasury, credit, processing and banking risk.

Since its establishment, the centre has carried out a total number of 700 IT projects, with a global value of over  EUR 1 billion and has more than 900 employees and collaborators.

The employees specialise in Software Application Development, IT Architecture, Quality Assurance and Testing, Functional/Business Analysis and Project Management. 

The capital increase is a vote of confidence to the Bucharest centre, marking the transition to a new stage of maturity, where the complexity of projects and the increase of responsibilities will be key features, the company announced on Monday (Aug. 20). 

“The capital increase is a confirmation of the success of Bucharest's team, achieved with remarkable efforts by our colleagues...We will continue to invest in a pleasant working environment: technology, training, ambiance, personal initiative, individual projects, social activities and personal development. We are ready to welcome in this environment the elite of the IT industry, to help us grow in the long term,” said Marian Popa, CEO of DB Global Technology. 

This increase will support the development and strengthening of the local team, broadening and deepening of knowledge, building specific skills for future projects and increasing the centre's capacity in the innovation arena. 

Mihai Ionescu, Chief Country Officer Deutsche Bank Romania also commented on the capital increase where he stated that it “reaffirms Deutsche Bank’s commitment to Romania, an economy that has confirmed and exceeded our initial estimates regarding the potential of the IT industry, the existence of a robust flow of skilled specialists and a superior quality of the IT infrastructure.” 

Deutsche Bank GLOBAL TECH CENTRE BUCHAREST

Besides Romania, the German bank has technological development centres around the world on the most important IT markets, namely the USA, Russia and India. There are also support centres in major financial hubs – New York, London, Frankfurt, Berlin and Singapore.

DB Global Technology in Bucharest has received many awards including the“Member of the Year” award in 2017 from the Employers Association Services in Romania (ANIS). 

The centre was also the first space in Romania to be awarded the highest LEED (Leadership in Energy and Environmental Design) distinction, the LEED Platinum certificate, by the US Green Building Council (USGBC) – a certificate that imposes new standards for eco-friendly offices on the local market. 

Deutsche Bank has been present in Romania since 1998, offering personalised products and solutions for Corporate, Investment and Transaction Banking, for corporate and institutional clients, as well as Private Wealth Management services for individuals.

Historically, Deutsche Bank has been a long-standing partner to the Romanian government, assisting with some of the most strategically important financing transactions for the country (energy, transportation, social housing).

On July 24, Germany's largest lender reported a second-quarter net loss of €3.1 billion ($3.5 billion), weeks after announcing a massive restructuring plan that it will undertake over the next four years. 

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