Deutsche Bank Group today launched its presence in Algeria via a partnership with Strategica, the Algerian financial advisory company set up in 2002, in which Deutsche Bank Group has acquired a 51% stake. Deutsche Bank has also set up an Algerian subsidiary, Deutsche Securities Algeria, which will apply for the requisite licences for its development programme from the Banque d’Algérie and the Commission d'Organisation et de Surveillance des Opérations de Bourse.
Commenting on the announcement, Caio Koch-Weser, Vice Chairman of Deutsche Bank said: “The controlled transformations and dynamism of the Algerian economy over recent years, in particular the vast reform of the financial sector that has been successfully carried out, has convinced Deutsche Bank of the need to commit itself for the long term in Algeria. Deutsche Bank has received a very positive welcome over the past year from the different Algerian authorities, notably the Banque d’Algérie, the Ministry of Finance, the Minister in charge of the Financial Reform and the Treasury department.”
Mr Koch-Weser confirmed that while he was in Algiers he would be meeting a certain number of key decision-makers, including Mr Chakib Khelil, Minister for Energy and Mines, Mr Mohamed Laksaci, Governor of the Banque d’Algérie and Mr Mohamed Meziane, Chairman and Managing Director of Sonatrach.
Deutsche Bank and Strategica have developed a close partnership over recent years on different projects and they have agreed to merge the advisory teams and business of Strategica into Deutsche Bank Group going forward. Since it was founded by Mr Lachemi Siagh, Strategica has issued 31 bonds representing a total volume of nearly 155 billion Algerian dinars and has built up a reputation for excellence on the Algerian financial advisory market by structuring large-scale transactions undertaken by the major Algerian public and private companies.
Algiers will become the centre of Deutsche Bank’s business for all of the Maghreb region creating a genuine international investment bank and market house to develop a platform offering all the financial services of an investment bank that will be authorised by the banking and stock market supervisory authorities: advisory on mergers and acquisitions (M&A), structuring private equity operations, issuing and placing debt instruments, initial public offerings, project finance, structuring and distribution of diversified derivative products, etc.
Henry Azzam, CEO of Deutsche Bank in Middle East and North Africa (MENA) said: “The setting up of Deutsche Bank in Algiers is a natural development of this growth strategy in the Middle East and in North Africa.”
For further information, please call:
Elaine Bartleet (44 20)7 545 4907
Press and media relations
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 73,114 employees in 75 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.
Deutsche Bank is present in Dubai, in the Dubai International Financial Center, and in Riyadh with active investment bank and market operations platforms, as well as through its subsidiaries or representative offices in Qatar, Abu Dhabi, Bahrain and Cairo. Over 200 professionals work in the different teams of Deutsche Bank in the Middle East.
This release also contains forward-looking statements. Forward-looking statements are statements that are not historical facts; they include statements about our beliefs and expectations and the assumptions underlying them. 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 management agenda, 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 27 March 2007 on pages 9 through 15 under the heading "Risk Factors." Copies of this document are readily available upon request or can be downloaded from www.deutsche-bank.com/ir .
Deutsche Bank provides current information via several social media platforms. Follow our Tweets, view current videos and photos or subscribe to our news updates using your preferred channel. more