Deutsche Bank will open a representative office in Bangladesh

The Dhaka Times Desk Germany's Deutsche Bank to open representative office in Bangladesh as part of global network expansion This new market entry will expand Deutsche Bank's regional operations in the Asia Pacific region to 15 diverse markets.

Deutsche Bank will soon begin its operations in Bangladesh in response to the strong demand for financial support for customers' trade in this fast-growing economy. Representative office of multinational corporate clients; Special emphasis will be placed on supporting the exporters of Bangladesh. Syed Naushad Zaman has been appointed to lead the bank's business in Bangladesh. Syed Naushad Zaman was earlier working as Deputy Head (Sub-Payment) of Commerzbank Representative Office in Bangladesh.

Alexander von Zur Mühlen, CEO of Deutsche Bank Asia Pacific and member of the management board, said, "We continue to expand our business and invest in the Asia Pacific region." He further said, “We are proud that in our 150th anniversary in Asia Pacific, we are going to start operations in the 15th market of our strong regional network. Bangladesh is a great example of a positive opportunity we see in the region for our platform. With the country's fast growing economy, we are entering this market to support its growing participation in regional and global trade.” Atul Jain, Deutsche Bank Global Co-Head for Trade Finance and Lending said, “Bangladesh is an increasingly important market for both our global multinationals and German corporate clients. This representative office is a reflection of our strong commitment to support the growing risk management and financial support needs of our clients in the growing and developing market of Bangladesh.”

According to Bangladesh Embassy, Germany is Bangladesh's largest trading partner in Europe, and the second largest in the world. Exports from Germany to Bangladesh have tripled in the last 25 years. In 2021, Germany's exports to Bangladesh increased by 45 percent to 877 USD. Less than half of these exports came from machinery and equipment, valued at around $400 million. News bulletins.

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