Deutsche Bank (China) Co. Ltd. announced that its new Tianjin branch is open for business. The new branch complements Deutsche Bank’s existing network in Beijing, Shanghai and Guangzhou and follows approval from the China Banking Regulatory Commission, obtained in July 2009.
Largely transaction and corporate banking focused, the new branch will initially offer services including treasury products and services for foreign exchange and interest rate hedging; structured trade and export finance; and will also provide onshore sales and customer services support to financial institutions.
“The opening of Deutsche Bank’s Tianjin branch enables a significant expansion of our North China coverage, says Lee Zhang, group chairman of Deutsche Bank China and head of global banking Asia-Pacific (ex-Japan). It is an important step in Deutsche Bank’s strategy in China, where we are committed to continue developing our business.”
A port city in northern China, Tianjin is one of the largest urban areas in the country. The municipality hosts a number of economic and technological development zones and has also been designated as a centre for financial innovation and emissions trading. Deutsche Bank’s new branch is located at Exchange Tower 2, Nanjing Road, Heping District, Tianjin.
D.C.