August 26, 2016

Deutsche Bank enters into agreement to sell subsidiary in Argentina to Banco Comafi S.A.

Deutsche Bank today announced that as part of the Bank’s Strategy 2020 plan to rationalize its global footprint, it has entered into an agreement to sell its subsidiary (Deutsche Bank S.A.) in Argentina to Banco Comafi S.A. Deutsche Bank will continue to serve its clients in Argentina from global and regional hubs.

“The sale of our subsidiary in Argentina is another mark of the progress we have been making towards our Strategy 2020 goal of becoming simpler and more efficient,” said Karl von Rohr, Chief Administrative Officer, at Deutsche Bank who is accountable for the Global Footprint Rationalization Program on the Management Board. “I am pleased with the progress of the program to date. We are also well on track in executing our footprint rationalization plans in the other countries that were announced in October of last year.”

Sebastian Reynal, Chief Country Officer Argentina, added, “We are committed to serving our government, corporate and institutional clients in Argentina and will continue to remain active as we have been recently.”

The transaction is expected to close in the first half of 2017, subject to regulatory approvals and other customary conditions. Terms of the transaction were not disclosed.

For further information, please call:

Deutsche Bank AG
Press & Media Relations
Kerrie McHugh
+1 212 250 6853

About Deutsche Bank
Deutsche Bank provides commercial and investment banking, retail banking, transaction banking and asset and wealth management products and services to corporations, governments, institutional investors, small and medium-sized businesses, and private individuals. Deutsche Bank is Germany’s leading bank, with a strong position in Europe and a significant presence in the Americas and Asia Pacific.

This release 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 revenues and in which we hold a substantial portion of our assets, the development of asset prices and market volatility, potential defaults of borrowers or trading counterparties, the implementation of our strategic initiatives, 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 11 March 2016 under the heading “Risk Factors”. Copies of this document are readily available upon request or can be downloaded from www.db.com/ir.


Footer Navigation:
Last Update: September 13, 2016
Copyright © 2019 Deutsche Bank AG, Frankfurt am Main