Deutsche Bank to increase investment in its Seoul branch by €150M
Deutsche Bank will increase its capital allocation for its Seoul branch by 150 million Euros, a 36.7% increase in its investment, to grow the business and undertake more activity for its clients.
“We see great opportunities in South Korea and are investing accordingly,” said Alexander von zur Muehlen, CEO of Asia Pacific, Europe, Middle East & Africa (EMEA) and Germany and Member of the Management Board.
Deutsche Bank has a 45-year history in South Korea, Asia’s fourth largest market. Korea is the thirteenth largest economy in the world, having successfully transformed itself from a low-income to high-income economy over the past few decades.
The capital injection was agreed with the governor of the Korean Financial Supervisory Service (FSS) in Frankfurt last week.
Deutsche Bank provides a full range of solutions to clients in South Korea; from multinational companies to large local corporates and financial institutions. Deutsche Bank’s recent re-entry to the South Korean debt capital markets in July complimented its successful advisory business.