First business in ItalyIn 1883 Deutsche Bank participated in the underwriting of the bonds of the city of Rome and introduced them at the Berlin Stock Exchange.
In 1890 the Syndicate for Italian Business was established under the leadership of Berliner Handels-Gesellschaft and Deutsche Bank. This syndicate underwrote four bonds for the Italian government totalling Lit 432 m. in the first 18 months of its existence, and, in the following two years, handled two-thirds of the lending and issuing business of the Italian government, various provinces, local authorities and railway companies. It also participated in the foundation of the Istituto Italiano Credito Fondiario.
In 1894 together with other German, Austrian and Swiss credit institutions, Deutsche Bank established Banca Commerciale Italiana in Milan. Deutsche Bank maintained its participation in the Italian bank until 1914, when the First World War interrupted business relations to Italy for a long period.