Pinto Machado, director of communications within Portugal for the German bank, said that Deutsche Bank 'is not discussing a move from the country,' thus hoping to dampen rumours which have been in circulation since Barclays announced last week that it was shutting its Portuguese business.
Machado said "It is false news. Deutsche Bank is not discussing any departure from Portugal. We are firmly committed to the country and to the Portuguese market," reacting to news items in today’s press.
Machado did not mention the fact that Deutsche Bank already has trabsferred its legal registration from Portugal to Germany in a move that many at the time saw as a vote of no confidence in Portugal and a precursor to a swift withdrawal should the need arise.
Deutsche Bank’s 56 branch retail banking business has 'grown sustainably' and the bank says it is profitable 'in line with group expectations' - which may of course be low.
