Deutsche Bank announced that they have increased the capital of their Ho Chi Minh City branch by an additional $100 million, bringing the total to over $200 million.
The extra money will let the bank do more business for its customers and help it grow in the country.
Deutsche Bank has been in Vietnam for 30 years, a region of great growth in Asia. In the past two years alone, the revenue of the bank in the country has doubled. It is a very important part of its success in the Asia Pacific.
Deutsche Bank offers banking services to big companies, corporations and financial institutions in Vietnam. Those services include managing money, exchanging currency, holding assets, handling business transactions, financing companies and giving business advice.
Since 2017, Deutsche Bank has been providing Vietnamese companies with more than a billion dollars’ worth of debt, loan and equity capital each year. It has been at the forefront of a number of important financing operations in the country.
Deutsche Bank Asia Pacific CEO and Member of the Management Board, Alexander von zur Muehlen, 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.
DB Chief Country Officer for Vietnam, Huynh Buu Quang, 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.
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