Deutsche Bank allocates $200m in Vietnam branch
The Vietnam business doubled its revenue in the past two years, the bank said.
Deutsche Bank has allocated $200m for its Ho Chi Minh City branch, doubling its capital allocation in Vietnam.
The increased capital is expected to support the bank’s growth in the country and allow it to undertake more activity for its clients, Deutsche Bank said in a press release.
The increased capital allocation comes after the Vietnam business doubled its revenues over the past two years.
“The capital investment in Vietnam is reflective of our confidence in this market’s rapid development and long-term growth trajectory, said Deutsche Bank APAC CEO Alexander von zur Muehlen, adding taht Vietnam is an increasingly strategic market for the bank’s clients.
“This capital injection will enable us to better support our clients’ expansion plans in the country, and likewise the broader Vietnamese economy. We’re proud of the strong local business we have built over our decades of experience here, and look forward to continuing to grow our business alongside our clients over the years to come,” Von Zur Muehlen added.
Deutsche Bank provides a range of corporate and investment banking solutions to multinational companies, large local corporations and financial institutions in Vietnam. These services include cash management, FX, custody, trade finance, corporate finance and advisory solutions.
Deutsche Bank first entered the Vietnam market in 1992.