BUSINESS | MAY 8TH, 2014

Deutsche Bank opens tech center for banks after EUR 10 M investment

According to Minister delegate for Budget Liviu Voinea, the German financial institution investment will bring to the budget over the next five years about EUR 50 M out of taxes and fees.

Deutsche Bank opened yesterday in Bucharest, following a EUR 10 million investment, a center where, according to the representative of the German bank in Romania Mihai Ionescu, software apps for treasury and credit risk management of the financial institution will be created. Present at the event, Minister delegate for Budget Liviu Voinea said that Deutsche Bank will benefit from a government aid for the tech center in Pipera, based on a scheme approved at the end of last year for the development of the investments in technology and the creation of jobs. According to Voinea, Deutsche Bank investment will bring to the budget over the next five years about EUR 50 million out of taxes and fees.

According to data revealed by the Ministry of Public Finance, the value of the wages supported by Deutsche Bank until the end of 2016 for the roughly 500 employees to work in the Bucharest center will go as high as EUR 39.24 million, 15.69 million of which will be covered through the government aid scheme.

Moreover, MFP has issued, since 2012 to date, nine financing agreements with a total worth of EUR 77 million, as part of the plan for state aid for the development of investments in technology. MFP is currently administering four state aid plans. In the first four months of 2014, according to Liviu Voinea, the ministry has issued financing agreements worth EUR 40 million and has already paid EUR 28 million, for investment projects worth a combined total of EUR 112 million that have created 1,300 new jobs.

In his turn, Prime Minister Victor Ponta, present at the opening ceremony, said the measure of credit restructuring will most likely apply form this July and it will be optional both for the banks and the individuals.

‘It is important that when a bank, such as Deutsche Bank opens the biggest Technological Centre in Eastern Europe in Romania, when all the bond issues of the Gov’t of Romania are over-underwritten and we pay the lowest interest in our history, when the credit rating agencies change the Romanian rating in a positive sense it is also obvious that crediting has reoriented at last, after a rather long time and the credit for the SMEs and the population has increased,’ said Ponta and continued: ‘All these signs of a recovery relating the economic growth, the European Commission predictions are extremely important and when the measures we set with the business circles and the financial-banking system in order to continue this positive development, to have access to the development of projects, such as the one I am attending today”. Ponta announced that Deutsche Bank will be more involved in Romania in energy infrastructure projects, especially that of connecting Romania to Moldova.

DB Global Technology Ltd was created in September 2013, and its first employees started their activity this January. The center has 65 employees at the moment, and their number will exceed 200 by the end of the year. “Romania’s choice for this center, the fourth of the German bank, was based on the high-quality ICT infrastructure, the quality of the office spaces and the ability and inventiveness of the Romanian ICT experts, who also can speak a very good English,” said DB Global Technology CEO, Marian Popa. He added that the recruitment process is minute, and the average wages the employees will get will be about EUR 1,500 to 2,000 a month.

“About 14 per cent of the workers are repatriated Romanians, this being reason for joy. We have Romanians who gave up similar positions at companies in the UK, the Czech Republic or the Scandinavian states. We also have employment requests sent by an Indian and two Englishmen,” added DB Global Technology CEO.

Source: nineoclock.ro