Hong Kong / Frankfurt am Main, February 1, 2007

Deutsche Bank signs agreement to buy up to 20% in Habubank, Vietnam


Deutsche Bank (XETRA: DBKGn.DE / NYSE: DB) has signed an agreement with Hanoi Building Commercial Joint Stock Bank (“Habubank”) to expand its presence in Vietnam and to further support its overall growth strategy in Asia Pacific. Deutsche Bank will assume up to 20% ownership in Habubank, subject to administrative and regulatory approvals. Financial terms were not disclosed.

Deutsche Bank will also enter into a framework strategic cooperation and knowledge transfer agreement with Habubank. Strategic cooperation will include joint exploration of potential partnership in the areas of credit cards, affluent banking and the development and distribution of investment products. Knowledge transfer will comprise Deutsche Bank sharing with Habubank expertise in the areas of treasury and risk management to help support its commitment to international best practice. Deutsche Bank will become the single largest shareholder of Habubank and also be entitled to representation on its Board of Directors.

Established in 1988 and based in the capital city of Hanoi, Habubank was the first joint stock bank in Vietnam and is today a leading bank in the country with a network of 21 branches and approximately 560 staff providing retail and business banking services to over 75,000 retail and business clients. Habubank was recently awarded “Vietnam Bank of the Year 2006” by The Banker magazine.

Rainer Neske, Member of the Group Executive Committee and Global Head of Private & Business Clients of Deutsche Bank, said: “Deutsche Bank believes in the growth potential of Vietnam. In a partnership approach with Habubank we will leverage our retail banking expertise to participate in the further development of this market. Deutsche Bank's investment in Habubank represents another step in further strengthening and expanding our existing retail franchise in Asia Pacific.”

Colin Grassie, Chief Executive of Deutsche Bank Asia Pacific, said: ”In Habubank we will have a strong and respected strategic partner in Vietnam, which is an important growth market for Deutsche Bank in the Asia Pacific region.”


For further information, please call:

Press and Media Relations 

Jason Collins      
+65 6423 8418 (Singapore)   

Michael West
+852 22038403 (Hong Kong)

Investor Relations
+49 69 910 35395 (Frankfurt)
db.ir@db.com

 

About Deutsche Bank

Deutsche Bank is a leading global investment bank with a strong and profitable private clients franchise. A leader in Germany and Europe, the bank is continuously growing in North America, Asia and key emerging markets. With Euro 1,097 billion in assets and 67,474 employees in 73 countries, Deutsche Bank offers unparalleled financial services throughout the world. The bank competes to be the leading global provider of financial solutions for demanding clients creating exceptional value for its shareholders and people.

About Deutsche Bank Vietnam

Deutsche Bank has had a presence in Vietnam since 1992 and currently operates a branch office in Ho Chi Minh City, with business activities including foreign exchange; money markets; risk-hedging products; bond underwriting and trading; cash management; international trade financing services; project financing and domestic custody services, for leading multinational and local corporate and financial institution clients.

www.db.com

 

This Release contains forward-looking statements. Forward-looking statements are statements that are not historical facts; they include statements about our beliefs and expectations. Any statement in this Press Release that states our intentions, beliefs, expectations or predictions (and the assumptions underlying them) is a forward-looking statement. These statements are based on plans, estimates and projections as they are currently available to the management of Deutsche Bank. Forward-looking statements therefore speak only as of the date they are made, and we undertake no obligation to update publicly any of them in light of new information or future events.

By their very nature, forward-looking statements involve risks and uncertainties. A number of important factors could therefore cause actual results to differ materially from those contained in any forward-looking statement. Such factors include: the conditions in the financial markets in Germany, in Europe, in the United States and elsewhere from which we derive a substantial portion of our trading revenues; potential defaults of borrowers or trading counterparties; the implementation of our Business Realignment Program; the reliability of our risk management policies, procedures and methods; and other risks referenced in our filings with the U.S. Securities and Exchange Commission. Such factors are described in detail in our SEC Form 20-F of 23 March 2006 in the section "Risk Factors." Copies of this document are readily available upon request or can be downloaded from www.deutsche-bank.com/ir.




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