Deutsche Bank Doubles Vietnam Investment to More Than US$200 Millionby Fintech News Singapore May 30, 2023
Deutsche Bank announced that it has nearly doubled its capital allocation in Vietnam, bringing the total to more than US$ 200 million. The bank said that the increased capital will support its growth in the country and allow it to undertake more activity for its clients.
The bank has been in Vietnam for 30 years after launching its presence in the country in 1992. Deutsche Bank identified the market as a key growth driver for the ASEAN region, having doubled its revenues over the past two years.
It provides a range of corporate and investment banking solutions to multinational companies, large local corporates and financial institutions in Vietnam. These services include cash management, FX, custody, trade finance, corporate finance and advisory solutions.
Since 2017, Deutsche Bank has raised more than US$1 billion in debt, loan and equity capital annually for Vietnamese corporates.
Alexander von zur Muehlen, Deutsche Bank Asia Pacific’s CEO and Member of the Management Board said,
“Vietnam is an increasingly strategic market for our clients and therefore an important part of our regional platform. We are proud of the strong local business we have built so far over our decades of experience in this fast-growing market. We look forward to continuing to expand our business here alongside our clients over the years to come.”
Huynh Buu Quang, Deutsche Bank’s Chief Country Officer for Vietnam said,
“This important investment will further reinforce our broad capabilities and enable us to do even more for our clients. We are very well placed to achieve our long-term goal of becoming the leading foreign bank in Vietnam.”