Deutsche Bank reports itself to regulator over Russian clients

[FRANKFURT] Deutsche Bank has reported cases of potential breaches of sanctions involving Russian clients to German financial regulator Bundesbank, a source said.

The decision came after an internal task force uncovered instances of Russian retail-client deposits exceeding the limit of 100,000 euros (S$150,126), the source added, asking for anonymity while discussing private information.

The task force was set up after Germany updated its legislation in February to implement the EU sanctions regime.

“Deutsche Bank continuously reviews its processes related to sanctions compliance, as part of the ordinary course of business,” Deutsche Bank said.

“Whenever we identify potential issues, we put in place appropriate measures to adapt and improve our processes and we inform the relevant supervisory authorities proactively.”

A Bundesbank spokesperson declined to comment. German newsletter Finanz-Szene reported the news earlier.

Banks are required to maintain strict controls to prevent the transfer of illicit funds. Deutsche Bank has invested heavily in controls after being criticised for lapses.

It was raided by German authorities earlier in 2026, as part of a money-laundering probe looking at past dealings by staff who had worked for companies linked to the now-sanctioned Russian billionaire Roman Abramovich.

The raid has set back the lender’s long-running effort to shed a previous reputation as a magnet for scandals. 

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Abramovich has denied any wrongdoing. BLOOMBERG