50 years in Pakistan
Karachi, July 22, 2011
Deutsche Bank celebrates 50 years in Pakistan – An important milestone of Deutsche Bank’s presence in the marketDeutsche Bank celebrates today its 50th anniversary in Pakistan, marking an important milestone of its presence in the market. Deutsche Bank first established in Pakistan on 22 July 1961, with the name Deutsch Asiatische Bank, which was later renamed as Deutsche Bank AG on 5 April 1988. Over the last five decades, the Bank has expanded its franchise with offices established in three major cities Karachi, Lahore and Islamabad.
Deutsche Bank offers a full suite of corporate and investment bank products to its clients. With strong on-the-ground presence, coupled with the Bank’s regional and global expertise, Deutsche Bank AG in Pakistan was named Best Bank in The Asset’s Triple A Awards 2008.
The Bank’s strength in transaction banking has been widely recognized by the industry with a number of accolades, including Best Transaction Bank and Best Domestic Custodian in Pakistan in The Asset Triple A Awards 2011; as well as the Top Rated Agent Bank 2010 in the Global Custodian Agent Banks in Emerging Markets Survey.
Over the years, Deutsche Bank has been a leader in helping Pakistan clients raise capital in offshore markets, playing a key role in international bond offerings for the Islamic Republic of Pakistan. It was the joint lead manager and joint book runner on USD 1.3bn sovereign bonds, which include Pakistan’s first ever 30-year bond and its first even global bond. Deutsche also executed Pakistan’s first corporate and global high yield offering for Pakistan Mobile Communications. The USD 250m bond issue won the Asia High Yield Deal of the Year award from Asiamoney and Best Asian Corporate Bond by Euroweek in 2006.
Faizan Mitha, Chief Country Officer for Pakistan, said: “Deutsche Bank was among the very few foreign banks that started its operation in Pakistan in the early 1960s. Over the years, the Bank has experienced a significant growth in Pakistan and become one of the most respected international banks in the local market. Today, we are proud to celebrate our 50th anniversary as it represents our long-standing commitment to this market and community. With strong on-the-ground presence and global expertise, we will continue to offer the best financial products and solutions to the Pakistan market.”
To mark the anniversary and as part of its continuous commitment to the Pakistan community, Deutsche Bank AG in Pakistan is working towards setting up a massive water filtration plant in one of the recent flood affected villages. Titled as “Deutsche Bank – 50th Anniversary Water Project”, this sustainable project aims at providing clean water to over 250 households impacting over 1400 lives. A series of celebratory events will also be organized later this year to commemorate this momentous occasion.