Germany’s Deutsche Bank is reportedly planning to recruit around 1,000 IT professionals in India in a bid to strengthen its in-house engineering capabilities.

According to The Times of India report, the lender has already hired 300 people from colleges. The recruits are slated to join in July this year.

The remaining positions will be filled through lateral hiring.

Once they are hired, the technical graduates will undergo two six-month job rotations and participate in a one-year global continuous development programme to hone their skills.

Subsequently, the recruits will receive their final placements.

Deutsche Bank head of India technology centres Ash Malik was quoted by the publication as saying: “Our software engineers in India are working on the bank’s top 50 programmes and 60% of our people are focused on engineering.

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“Some of the platforms that we support in India include those for big data and analytics, the data lake platform, and the HR, credit risk and market risk platforms.”

Currently, the German bank employs around 4,000 people at its Bengaluru and Pune tech centres in India.

This comes around a month after it was reported that Deutsche Bank is planning to lay off around 400 to 450 employees in Germany.

The redundancies were said to be a part of the bank’s CEO Christian Sewing’s plan to slash 20% of the workforce in a four-year restructuring process.