Driven by Greed - The Deutsche Bank Story: Putin’s Bank

Deutsche Bank managers driven by greed set it on the wrong track in the 2000s. For many years, the financial institution maintained close ties with Vladimir Putin.

https://p.dw.com/p/4eZjO

Zeit der Gier - Der Fall Deutsche Bank - Putins Bank — The head of Deutsche Bank Josef Ackermann cultivated contacts with Vladimir PutinImage: ZDF

And involved itself in shady deals with the Russian autocrat.

In the early 2000s, Deutsche Bank wanted to make it big in Moscow. For some employees, this was something to be achieved by any means necessary: bribing Putin’s officials, brothel visits for good customers, money laundering for the mafia.

Driven by Greed - The Deutsche Bank Story: Putin’s Bank — Deutsche Bank's Moscow branchImage: ZDF

When it all came to light, this sent a shock wave through the bank: to this day, Deutsche Bank is still laboring under the burden of fines totaling billions. But the CEOs claimed total innocence. Just one of many scandals.

Other questionable deals include loans to Donald Trump. The bank’s very special relationship with the US-American real estate tycoon began in the year 1998. Trump was one of Deutsche Bank’s best customers until shortly before his 2017 presidency. The credit institute loaned him huge sums - despite his track record for business bankruptcy and a dubious reputation as a defaulting debtor.

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Driven by Greed - The Deutsche Bank Story: Putin’s Bank

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