Higher turnover for Deutsche Bank’s software development center in Romania

DB Global Technology, Deutsche Bank’s software development center in Romania, recorded a turnover of RON 165.72 million (EUR 36.2 million) last year, up 64.8% compared to 2015. Its net profit rose by 6.2% to about EUR 6.9 million whereas the average number of employees reached 567, up from 299 in 2015, according to data from the Ministry of Finance. The company’s receivables doubled in 2016 to EUR 22.4 million and the debts went up by almost 10% to EUR 20.9 million. Deutsche Bank’s software development center became operational in January 2014. In 2013, Deutsche Bank received the approval from Romania’s Ministry of Finance for a state aid of EUR 15.7 million to develop a project valued at EUR 40 million. The company has committed to create 500 new jobs. DB Global Technology develops software solutions for Deutsche Bank's global operations. editor@romania-insider.com (photo source: Db.com)