Deutsche Bank (China), a wholly-owned foreign-funded subsidiary of Deutsche Bank, has opened a new Tianjin branch. The new branch complements Deutsche Bank’s existing network in Beijing, Shanghai and Guangzhou following approval from the China Banking Regulatory Commission (CBRC), obtained in July 2009.
The new branch will focus on transaction and corporate banking. Initially it offers services including treasury products and services for foreign exchange and interest rate hedging, structured trade and export finance. It 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 at 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 of 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, head of global transaction banking and corporate banking coverage of Deutsche Bank in 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.”
