Press Releases

November 22, 2017

ADB and Deutsche Bank Enter Supply Chain Finance Deal Supporting SMEs in Developing Asia

MANILA, PHILIPPINES, DUBAI, UAE (22 November 2017) — The Asian Development Bank (ADB) and Deutsche Bank AG today announced an agreement to enter into a supply chain finance (SCF) transaction under ADB’s Supply Chain Finance Program (SCFP). The SCF will provide over 200 million US dollars in annual financing to small and medium-sized enterprises (SMEs) across developing Asia.

The program will support SME suppliers to United Arab Emirates-headquartered Landmark Group, a major retailer in the Middle East. Most of the suppliers who benefit from the arrangement are located in Bangladesh, the People’s Republic of China, India, Sri Lanka and Vietnam.

“This deal under our SCFP with Deutsche Bank to support Landmark’s SME suppliers in developing Asia is really exciting for us,” said Steven Beck, Head of Trade and Supply Chain Finance at ADB.  “We appreciate Deutsche Bank and Landmark’s partnership and look forward to replicating the arrangement in more supply chains.”

While the SCFP provides guarantees in supply chain finance structures, its scope also covers funded supply chain financing as well. ADB and Deutsche Bank’s partnership will enable SME suppliers to gain better access to working capital and should therefore contribute to SME growth, enhancing their ability to create jobs in their home markets.

“This unique financing structure, the first of its kind, will help global retailers like the Landmark Group to utilize this approach to impact the cash flows of suppliers across emerging markets in a positive way,” said Harold Leenen, Head of Global Transaction Banking, Middle East & Africa at Deutsche Bank. “As an institution, we are proud to have jointly developed this structure with our transaction partners.”

“We would like to thank our partners ADB & Deutsche Bank for developing this Supply Chain Financing programme. This will enhance our relationships with Asian SME suppliers and pave the way for other such programmes. In addition, we would reap the benefits backed by the AAA rating of ADB and efficient solution delivery by Deutsche Bank.” said Rajesh Garg, Group Chief Financial Officer, Landmark Group.

Landmark Retail Ltd Group’s objective through this program is to build reliable and sustainable relationships with its suppliers in developing Asia.

Backed by its AAA credit rating, ADB's SCFP complements its successful Trade Finance Program. The SCFP shares risk with partner banks and improves liquidity within supply chains, mostly for SMEs. This support to SMEs in developing Asia contributes to growth and job creation.

For further information, please contact:

Erik Churchill
Asian Development Bank
Phone: + 63 (0) 2 683 1905 Mobile: + 63 999 999 1905
E-Mail: echurchill@adb.org

Stuart Haslam
Deutsche Bank, Head of Communications & CSR – MEA & Turkey
Phone: +971 (0) 4 4283 860 Mobile: +971 (0) 56 1993 599  
E-Mail: stuart.haslam@db.com

Surekha Dsouza
Landmark Group, Head - Corporate Communications & CSR
Phone: +971 (0) 4 5174 050
E-Mail: Surekha.Dsouza@landmarkgroup.com

About Asian Development Bank

ADB, based in Manila, is dedicated to reducing poverty in Asia and the Pacific through inclusive economic growth, environmentally sustainable growth, and regional integration. Established in 1966, ADB is celebrating 50 years of development partnership in the region. It is owned by 67 members—48 from the region. In 2016, ADB assistance totalled $31.7 billion, including $14 billion in co-financing.
For more information, visit ADB SCFP website: http://www.adb.org/scfp.

About Deutsche Bank

Deutsche Bank provides commercial and investment banking, retail banking, transaction banking and asset and wealth management products and services to corporations, governments, institutional investors, small and medium‐sized businesses, and private individuals. Deutsche Bank is Germany’s leading bank, with a strong position in Europe and a significant presence in the Americas and Asia Pacific.

For more information on the Deutsche Bank Group in Middle and Africa, visit the following website: https://www.db.com/mea

About Landmark Group

Founded in 1973 in Bahrain, the Landmark Group has successfully grown into one of the largest and most successful retail organizations in the Middle East and India. An international, diversified retail and hospitality conglomerate that encourages entrepreneurship to consistently deliver exceptional value, the Group operates over 2200 outlets encompassing over 30 million square feet across the Middle East, North Africa and the Indian sub-continent.

Landmark Group has a strong workforce of over 55,000 employees and provides a value-driven product range for the family through its retail concepts: Centrepoint, Babyshop, Splash, Shoe Mart, Lifestyle, Iconic, Max, Shoexpress, Home Centre, Home Box and Emax. In addition to the brands developed in-house, the Group also holds the franchise rights for some of the world's leading fashion and footwear brands in the countries where it operates.

The Group has also diversified in the leisure, food and hospitality with Landmark Leisure, Balance Spa & Salon, Citymax Hotels, Fitness First and Foodmark, the restaurant division, which operates the Group's own and franchise food outlets.
For more information, please visit, www.landmarkgroup.com

Disclaimers and disclosures

Deutsche Bank AG is authorised under German Banking Law (competent authorities: European Central Bank and German Federal Financial Supervisory Authority (BaFin)) and, in the United Kingdom, by the Prudential Regulation Authority. It is subject to supervision by the European Central Bank and the BaFin, and to limited supervision in the United Kingdom by the Prudential Regulation Authority and the Financial Conduct Authority. Details about the extent of our authorisation and supervision by these authorities are available on request.

Deutsche Bank AG, Dubai (DIFC) Branch is a branch of Deutsche Bank AG located and registered in the Dubai International Financial Centre (DIFC) in the Emirate of Dubai, United Arab Emirates, with registered no. 00062. Principal place of business in the DIFC: Dubai International Financial Centre, Gate Village, Building 5, PO Box 504902, Dubai, United Arab Emirates. Deutsche Bank AG, Dubai (DIFC) Branch is regulated by the Dubai Financial Services Authority (“DFSA”) and is authorized to provide Financial Services to Professional Clients only, as defined by the DFSA.

Deutsche Bank AG, Abu Dhabi Branch is a branch of Deutsche Bank AG located in the Emirate of Abu Dhabi, United Arab Emirates and is registered in the United Arab Emirates with Commercial Licence No. 1175182. Principal place of business in the United Arab Emirates: Injazat Building, Mohammed Bin Zayed City, P.O.Box 135056, Abu Dhabi, United Arab Emirates. Deutsche Bank AG, Abu Dhabi Branch is regulated by the Central Bank of the United Arab Emirates.



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Last Update: November 22, 2017
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