The German bank has confirmed that it will base its European asset management and credit activities for businesses from Luxembourg.

Deutsche Bank Luxembourg's president Frank Krings confirmed at the presentation of the bank's annual report that the bank aims to develop its activities in Luxembourg, namely asset management and loans to businesses.

The management of Deutsche Bank Luxembourg seemed pleased with the bank's business, given the net benefit of €133 million made in Luxembourg. Whilst a smaller sum than the previous year, the bank maintained this was fine as 2017 had been an exceptional year.

Krings explained that Deutsche Bank Group had decided to invest in its activities in Luxembourg in 2016, dedicating €30 million to renewing its IT platform. This investment allowed the group to continue its EU business in Luxembourg. The president of Deutsche Bank S.A described this as "excellent news for Luxembourg".
The bank consequently wants to further its activities in Luxembourg. Whilst the bank did downsize some functions by 35 to 305, overall 500 individuals work for Deutsche Bank in Luxembourg.

Krings also confirmed that many of the affairs surrounding the Deutsche Bank group, such as its relationship with Donald Trump, do not affect the bank in Luxembourg. However, globally the Bank is seeking an environment in which it isn't surrounded by whispers. He conceded that media outlets are doing their jobs and highlighted that Deutsche Bank is not criticising this. In Luxembourg, Deutsche Bank is simply focusing on its two main arms, namely firm credits and international wealth management.

Whilst affairs occurring abroad are not exactly helpful, Krings confirmed they had not disturbed operations in Luxembourg. When asked whether Deutsche Bank Luxembourg is involved in the "Dansk" or  "Russian Laundromat" affairs, as well as anything to do with Donald Trump's real estate, Krings simply responded that he sleeps extremely well, dismissing the matter.