Prime Minister of Vietnam meets and witnesses agreements with Deutsche Bank
The Prime Minister of the Socialist Republic of Vietnam, Nguyen Tan DUNG, met with Juergen Fitschen, Member of the Group Executive Committee of Deutsche Bank in Frankfurt today, where they exchanged views about Vietnam’s economy and financial markets, as well as Deutsche Bank’s operations and strategy in Vietnam.
The Prime Minister and Mr Fitschen also witnessed two memorandums of understanding; with Vietnam National Textile - Garment Group (VINATEX) and Vietnam Shipping Industry Group (VINASHIN) in relation to capital market opportunities, risk management and the provision of cash management, trade finance and other banking services.
Mr Fitschen said, “Vietnam is a market with huge potential – it has a young population, a commercial outlook and a government focused on further development. Deutsche Bank is committed to being a trusted partner of Vietnam in its efforts to achieve its economic goals."
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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 78,291 employees in 76 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
Established in 1992, Deutsche Bank Vietnam has been operating a full-service branch in Ho Chi Minh City since 1995. Employing more than 70 staff, the franchise has grown from pure commercial banking into a multi-faceted investment banking operation.
Deutsche Bank offers a comprehensive range of services in Vietnam. In the traditional corporate banking business arena this includes accounts and deposits, cash management, trade finance and domestic custody services. And in investment banking this includes sales and trading in asset classes such as foreign exchange, fixed income and money markets, as well as debt origination.
In October 2007, Deutsche Bank completed the purchase of a 10% strategic stake in Hanoi Building Commercial Joint Stock Bank (Habubank), enhancing its ability to participate directly in the development of the rapidly expanding financial services sector in the country.
Deutsche Bank was recently awarded Best Foreign Investment Bank in Vietnam by FinanceAsia in 2007. It received this for its position as the dominant arranger and underwriter of corporate bonds in Vietnam, as well as the role it has played in providing foreign investors access to local equity markets.
Jürgen Fitschen and Nguyen Tan Dung