Deutsche Bank has announced a capital allocation increase for its HCM City branch of US$100 million, bringing its total to just over $200 million.

The increased capital will support the bank’s growth in the country and allow it to undertake more activities for its clients, the bank said.

“This capital investment in Viet Nam is reflective of our confidence in this market’s rapid development and long-term growth trajectory. Viet Nam is an increasingly strategic market for our 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,” said Deutsche Bank Asia Pacific CEO and member of the management board, Alexander von zur Muehlen.

Deutsche Bank has a long and proud 30-year history in Viet Nam, a key growth driver for the ASEAN region, after launching its presence in the country in 1992.

The business in Viet Nam continues to play an increasingly important role in the success of the bank’s Asia Pacific franchise, having doubled its revenue over the past two years.

Deutsche Bank provides a range of corporate and investment banking solutions to multinational companies, large local corporates and financial institutions in Viet Nam. These services include cash management, FX, custody, trade finance, corporate finance and advisory solutions.

Since 2017, Deutsche Bank has raised more than $1 billion in debt, loan and equity capital annually for Vietnamese companies. It has established a track record for leading notable capital markets and structured finance transactions in the domestic market.

“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 Viet Nam,” Deutsche Bank chief country officer for Vietnam Huynh Buu Quang said.

Deutsche Bank is the leading bank in Germany with strong European roots and a global network. — VNS