Deutsche Bank (China) Co. Ltd. (“Deutsche Bank China”) today announced that its new Tianjin branch is open for business. The new branch complements Deutsche Bank’s existing network in Beijing, Shanghai and Guangzhou and follows approval from the China Banking Regulatory Commission, obtained in July 2009.
Largely transaction and corporate banking focused, the new branch will initially offer services including treasury products and services for foreign exchange and interest rate hedging; structured trade and export finance; and will also provide onshore sales and customer services support to financial institutions.
Lee Zhang, Group Chairman of Deutsche Bank China and Head of Global Banking Asia-Pacific (ex-Japan), said, “The opening of Deutsche Bank’s Tianjin branch enables a significant expansion of our North China coverage. It is an important step in Deutsche Bank’s strategy in China, where we are committed to continue developing our business.”
Betty Deng, Chief Country Officer and President, Deutsche Bank China, said, “Under the guidance and approval of the CBRC, Deutsche Bank has successfully launched its fourth branch in China. Our presence in Tianjin will allow us to extend the Bank’s premium services to clients both within the municipality and around the Bohai Rim.”
David Koh, Deutsche Bank’s Head of Global Transaction Banking and Corporate Banking Coverage, China, said, "As a world-class transaction banking services provider backed by a superior technological platform and strong on-the-ground expertise, we look forward to offering a comprehensive suite of innovative and customized solutions to more clients across North China and supporting their future growth."
A port city in northern China, Tianjin is one of the largest urban areas in the country. The municipality hosts a number of economic and technological development zones and has also been designated as a centre for financial innovation and emissions trading. Deutsche Bank’s new branch is located at Exchange Tower 2, Nanjing Road, Heping District, Tianjin.
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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 78,530 employees in 72 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 China
Deutsche Bank (China) Co., Ltd. is a wholly-owned foreign-funded subsidiary of Deutsche Bank AG and is incorporated in the People’s Republic of China. Headquartered in Beijing, Deutsche Bank China now operates branches and sub-branches in Beijing, Shanghai and Guangzhou with over 500 employees.
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