Deutsche Bank Unveils New Post-Pandemic Remote Working Policy

Deutsche Bank, a leading German financial services provider, revealed through an internal memo signed by the Chief Executive Officer its new remote working policy for a post-pandemic era. According to the guidelines unveiled by CEO Christian Sewing and the head of HR, Michael Ilgner, staff could divide their work hours between their home and the office.

The balance that Deutsche Bank expects to handle in terms of remote working hovers in a range of 40% to 60% said Bloomberg, who first disclosed the memo publicly. “We need to find the right balance which will make all of us together more efficient and effective. To support new ways of working, we will make targeted investments in our real estate and upgrade our digital infrastructure to facilitate increased collaboration,” the memo says.

Furthermore, the financial services institution aims to cut costs by reducing office space. In fact, Deutsche Bank found out that the work-from-home scheme in the middle of the pandemic didn’t lower productivity, said Bloomberg in an article.

“Our home base will always be the office. When the situation allows, we are very much looking forward to welcoming our teams back,” the memo adds. However, Deutsche Bank didn’t comment on whether all staff is expected to come to the office.

Recent Deutsche Bank Figures

Despite the COVID-19 crisis globally, Deutsche Bank recently posted significant growth in the last quarter. Finance Magnates reported that the bank had a profit before tax of €1.6 billion as net profit reached €1 billion in the first quarter of 2021, the highest quarterly Group profit for seven years. Moreover, Deutsche Bank’s corporate banking division posted strong growth for the last three months as profit before tax reached €229 million, which is up by 90% compared to Q1 of 2020.

Founded in 1869, Deutsche Bank is a German multinational investment bank that is dual-listed on the New York Stock Exchange and the Frankfurt Stock Exchange.

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