Deutsche Bank has announced plans to inject an additional $100 million into its Ho Chi Minh City branch, raising its total investment in Vietnam to over $200 million. This substantial increase in capital infusion empowers the bank to expand its operations and offer an enhanced range of services to its valued clientele across the nation.
Since its establishment in Vietnam in 1992, Deutsche Bank has steadily forged a remarkable 30-year legacy of expansion and development, solidifying its position as a driving force propelling the ASEAN banking sector forward.
Today, its presence in Vietnam remains instrumental, playing a pivotal role in the group's burgeoning influence across the vibrant Asia-Pacific region. It has witnessed a doubling of its revenue over the past two years.
Deutsche Bank offers a wide range of corporate and investment banking solutions to multinational companies, domestic conglomerates, and financial institutions in Vietnam. This multifaceted spectrum of services encompasses asset management, foreign exchange, capital arrangement for businesses, and an array of advisory solutions.
Since 2017, Deutsche Bank has successfully mobilised over $1 billion in annual funding, including loans and equity capital, for Vietnamese enterprises. The bank has also solidified its position by arranging capital and structuring financial transactions in international markets for Vietnamese organisations and businesses.
Alexander von zur Muehlen, CEO and member of the board of Deutsche Bank Asia-Pacific, expressed his confidence by stating, "This infusion of capital exemplifies our unwavering belief in Vietnam's rapid and enduring developmental trajectory. It also underscores the strategic significance of the Vietnamese market for our valued clients."
"With these fresh investments, we are poised to provide even greater support for our domestic clients' expansion plans, and contribute to the overall growth of Vietnam's economy. We take immense pride in our robust business operations, cultivated over decades of experience in Vietnam, and eagerly anticipate further building our relationship with our clients for years to come," the CEO continued.
CEO of Deutsche Bank Vietnam Huynh Buu Quang added, "This significant investment will further enhance our capabilities, allowing us to deliver even greater value to our esteemed clientele. With our strong market position, we are well-positioned to achieve our long-term goal of becoming a leading foreign bank in Vietnam."
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Deutsche Bank AG - Ho Chi Minh City branch's granted capital has been increased to $200.08 million and updated as per State Bank of Vietnam (SBV) Decision No.401/QD-HCM dated May 12, 2023.
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