Deutsche Bank May Move 300 Billion Euros from UK to Frankfurt Due to Brexit

[kreslik.news]

Bloomberg reports that Deutsche Bank is considering shifting 300 billion euros from its UK arm to Frankfurt. This is nearly a fifth of Deutsche Bank’s balance sheet, 1.59 trillion euros as of last year. According to Bloomberg’s sources, the reason appears to be the migration of assets and retail trading to the European continent due to Brexit.

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Bowline, Deutsche Bank’s project, aims for investment in Frankfurt to come into effect in September 2018, and for the assets to be moved by March 2019, according to the source who requested to remain anonymous.

Monika Schaller, a spokeswoman ... (read more)