Bangladesh – Germany-based financial service provider Deutsche Bank will be expanding its global network with the launch of its first representative office in Dhaka, Bangladesh. With this new market entry, Deutsche Bank’s regional footprint in the Asia Pacific will now span 15 diverse markets.
The representative office will be focusing on supporting multinational corporate clients, predominantly exporters to Bangladesh. The bank has hired Syed Naushad Zaman, formerly deputy head of the Commerzbank Representative Office, to be the new chief representative officer at Deutsche Bank in Bangladesh.
According to the Embassy of Bangladesh, Germany is the largest trading partner of Bangladesh in Europe and the second largest globally. German exports to Bangladesh have tripled in the past 25 years.
“We continue to grow and invest in our business in the Asia Pacific. We are proud that in our 150th anniversary in the Asia Pacific, we are welcoming the 15th market to our strong regional network. With its fast-growing economy, we enter this market to support its increasing participation in regional and global trade,” said Alexander von zur Muehlen, Deutsche Bank’s CEO for APAC and member of the Management Board.
Meanwhile, Atul Jain, Deutsche Bank’s global co-head for trade finance and lending, noted, “Bangladesh is an increasingly strategic market for both our global multinational and German corporate clients. This representative office reflects our firm commitment to support our clients’ evolving risk management and financing needs in this dynamic growth market.”
