The services include traditional and new commercial banking services such as: international trade finance solutions, cash management and treasury solutions, including the taking of non-retail deposits in a number of GCC and international currencies.
Deutsche Bank is authorized to conduct wholesale banking in the Kingdom through its on-shore branch, and is allowed to take institutional deposits and offer loans and advances to corporate entities, government and semi-government institutions.
Deutsche Bank head of Global Transaction Banking (GTB) and member of the Group Executive Committee Werner Steinmüller said the expansion of their suite of services in the Kingdom is part of a strategic vision that has long recognized the Middle East, and Saudi Arabia in particular, as an important part of the global economy and financial sector.
"The offering of cash management and trade finance banking services in the Kingdom, is a significant milestone for Deutsche Bank and our GTB franchise in the region. We are proud of the contribution we have made in Saudi Arabia to date, and we look forward to further assisting our clients with their financial needs," Steinmuller added.
