BRANCH BANKING | Staff Reporter, China

Deutsche Bank unveils new branch in Qingdao

It's the bank's sixth branch in China.

Deutsche Bank (China) Co., Ltd. (Deutsche Bank China) announced the opening of a new branch in Qingdao following the approval from the China Banking Regulatory Commission (CBRC) on 25 June, 2013. The Qingdao branch is the Bank’s sixth branch in China, complementing others in Beijing, Shanghai, Guangzhou, Tianjin and Chongqing.

The new branch offers a full range of cash management, trade finance and loan services, catering to the needs of corporate and financial institution clients. This includes account services, payables/receivables, liquidity management, loans, foreign exchange and financial supply chain solutions.

"We are pleased to further expand our footprint in China with the opening of a branch in Qingdao,” said Jürgen Fitschen, Co-Chief Executive Officer of Deutsche Bank. “China is one of the most important markets for Deutsche Bank, as it represents both immediate and long-term growth potential. We are committed to growing our business in this country both through organic growth − with the expansion of our branch network − and through successful partnerships.”

Werner Steinmueller, Deutsche Bank’s Head of Global Transaction Banking and Member of the Group Executive Committee, added: “Our Global Transaction Banking division has tremendous growth potential in Asia, especially in China. With our new branch in Qingdao, more corporates and financial institutions will have access to our world- class transaction banking products and services. We remain committed to developing long-term relationships with our clients and to supporting their growth ambitions both locally and internationally. ”

Feng Gao, President and Chief Country Officer of Deutsche Bank China, said: “The opening of this new branch is an important step in the execution of our strategy. Qingdao is a thriving city home to both multinational companies looking to penetrate local markets, and large-scale domestic companies looking for outbound growth opportunities. Through our deep local knowledge and support from a robust global network, we are confident that we can deliver competitive products and solutions that will help our clients in this part of the country to achieve their business targets with greater efficiency.”  

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