The new branch complements Deutsche Bank’s existing network in the UAE, which includes a branch within the Dubai International Financial Centre and an on-shore branch, Deutsche securities & services.
Initially global transaction banking focused, the new branch will offer traditional commercial banking services such as international trade finance solutions and cash management & treasury solutions, including taking non-retail deposits in a number of GCC and international currencies.
Werner Steinmuller, head of global transaction banking and member of the group executive committee at Deutsche Bank, said: “The opening of the Abu Dhabi branch is a further significant step in the expansion of GTB. With the recent opening of new branches in the Ukraine, in China and now in the UAE we have significantly expanded our global footprint in commercial banking over the past two years.”
Henry Azzam, CEO for the MENA region at Deutsche Bank, said: “The UAE is our regional hub, and we will continue to invest in our growth here, as we further develop our presence as one of the largest foreign investment banks in the UAE and the region. Through our Abu Dhabi branch, we will bring Deutsche Bank’s expertise and global reach to our clients in the UAE, and offer them best-in-class platforms to support their current and future business needs.”
