Deutsche Bank AG (ASX:DBA) shares tumbled this morning as it began conducting stress tests with an eye to disrupted operations in its big technology centre in Russia.
Last night, the Financial Times reported that the bank was carrying out a review of its Russian IT centre, which develops and maintains its global operations.
Shares were down more than 8% in morning deals on Deutsche Bank’s public consternation over its Russian arm, where it launched its latest site in Moscow in December.
This was despite the company saying its stress test assured its ability to continue to run operations at a normal level.
“We have rigorously tested our operational resiliency and are confident that the day to day running of our trading business will not be affected,” the bank said in a statement.
Around 1,500 of Deutsche Bank’s technology workers, about 10% of the global total, are based in Russia.
Deutsche Bank was trading at €9.24 at 12:14 CET, a 8.55% fall over the day.