The Ministry for Finance notes the announcement made today that, as part of its major restructuring process, Deutsche Bank will be closing operations in ten countries worldwide, four of which are in Europe: Denmark, Finland, Norway and Malta.

PRESS RELEASE ISSUED BY THE MINISTRY FOR FINANCE

“It is of course disappointing to note that in this needed restructuring Deutsche Bank’s operations in Malta have been affected,” said Minister for Finance, Edward Scicluna.

Currently the bank has a staff of four employees in Malta. These employees have been helped to resettle in other jobs.

The new banking regulation regime worldwide is intended to strengthen international banks in the aftermath of the international financial crisis. In the European Union, and especially in the Eurozone, the regulatory framework includes the Banking Union with a Single Supervisory Authority, the Bank Recovery and Resolution Directive and other banking regulations that are meant to reduce the risks for bank depositors.

– Thursday, 29th October, 2015