German bank Deutsche Bank opened its DB Global Technology center in Bucharest on Thursday, May 8, the fourth such center, after similar facilities in Moscow, Sankt Petersburg and North Carolina. The Bucharest center, located in UpGround Business Center, will hire 200 by the end of 2014, and 500 by end 2016, the bank has announced.

Romanian staff will work on developing advanced technological solutions for several of Deutsche Bank’s activities. Employees of the Bucharest center will specialize in developing software applications, architecture, functional analysis and project management.

Global Technology (GT) provides the technology services and solutions that enable Deutsche Bank to support the bank´s clients, and more than 100,000 employees across 3,000 locations globally.

Deutsche Bank’s Technology & Operations division offers technical, transactional and logistical services and products. It works with 24,000 professionals located across 54 countries.

The bank's income before income taxes (IBIT) was of EUR 1.7 billion in the first quarter of the year, down 30 percent from 1Q2013. Net revenues of EUR 8.4 billion fell 11 percent year over year, mainly due to a decline in corporate banking & securities results.

In Romania, Deutsche Bank only offers private banking, and runs support services, without offering retail banking. In Romania, the bank used to own the Upground offices in the Pipera area, which it sold to investor Ioannis Papa­le­kas earlier this year.

editor@romania-insider.com