Deutsche
Bank has announced a significant increase that doubles its total local capital
to IDR 10 trillion (€600 million) for its operations in Indonesia. The infusion
of additional funds is aimed at fueling the bank’s growth within the country,
enabling it to expand its services for clients. This marks Deutsche Bank’s
third capital increase in the Asia Pacific region this year, following earlier
investments in Vietnam and South Korea.
Deutsche
Bank provides a diverse range of corporate banking solutions in Indonesia,
catering to multinational companies, large local corporates, and financial
institutions. These services encompass cash management, foreign exchange,
custody, trade finance, and investment banking services, including fixed income
and currencies.
The
bank, boasting a 54-year history in Indonesia, considers the nation a key
market within its ASEAN network. The Indonesian business has become
increasingly pivotal to Deutsche Bank’s regional success due to its robust
performance and rapidly expanding client base.
Alexander
von zur Muehlen, Deutsche
Bank’s CEO of Asia-Pacific, Europe, Middle East & Africa (EMEA) and
Germany, stated: “We continue to invest in Asia Pacific and expand in
markets that are becoming increasingly strategic for our clients. We see
long-term opportunity in Indonesia, which has one of the fastest-growing
economies in Asia.”
“Its
well-established strength in resources is nicely complemented by its focus on
emerging industries like technology and EV manufacturing. These factors, along
with the country’s structural reform and economic transformation, position it
strongly.” He expressed confidence in Indonesia’s future, affirming the
bank’s commitment to growing alongside its clients.
Siantoro
Goeyardi, Deutsche Bank’s Chief Country Officer for Indonesia, commented: “We
have deep roots in Jakarta and Indonesia and are proud of the strong business
that we have built over the past 54 years. This additional capital is a recognition
of our success to date and ongoing potential. It underscores the importance of
Indonesia, which is the cornerstone of the ASEAN region, to Deutsche Bank
globally and our clients. We look forward to further cementing our position in
the country.”
BaFin
Imposes €170,000 Fine on Deutsche Bank for Reporting Lapses
Finance
Magnates reported earlier that the Federal
Financial Supervisory Authority (BaFin) fined Deutsche Bank AG €170,000 for
its failure to promptly submit reports on suspicious transactions, a critical
measure in preventing money laundering and terrorist financing. BaFin
emphasized the serious implications of such lapses on the financial sector’s
integrity and broader efforts to combat illicit financial activities.
This
incident added to Deutsche Bank’s recent regulatory challenges, including a $25
million fine imposed by the Securities and Exchange Commission in September on
its subsidiary, DWS Investment Management Americas Inc. BaFin highlighted the
importance of timely submission of reports to enable swift action against
potential financial misconduct.
Deutsche
Bank has announced a significant increase that doubles its total local capital
to IDR 10 trillion (€600 million) for its operations in Indonesia. The infusion
of additional funds is aimed at fueling the bank’s growth within the country,
enabling it to expand its services for clients. This marks Deutsche Bank’s
third capital increase in the Asia Pacific region this year, following earlier
investments in Vietnam and South Korea.
Deutsche
Bank provides a diverse range of corporate banking solutions in Indonesia,
catering to multinational companies, large local corporates, and financial
institutions. These services encompass cash management, foreign exchange,
custody, trade finance, and investment banking services, including fixed income
and currencies.
The
bank, boasting a 54-year history in Indonesia, considers the nation a key
market within its ASEAN network. The Indonesian business has become
increasingly pivotal to Deutsche Bank’s regional success due to its robust
performance and rapidly expanding client base.
Alexander
von zur Muehlen, Deutsche
Bank’s CEO of Asia-Pacific, Europe, Middle East & Africa (EMEA) and
Germany, stated: “We continue to invest in Asia Pacific and expand in
markets that are becoming increasingly strategic for our clients. We see
long-term opportunity in Indonesia, which has one of the fastest-growing
economies in Asia.”
“Its
well-established strength in resources is nicely complemented by its focus on
emerging industries like technology and EV manufacturing. These factors, along
with the country’s structural reform and economic transformation, position it
strongly.” He expressed confidence in Indonesia’s future, affirming the
bank’s commitment to growing alongside its clients.
Siantoro
Goeyardi, Deutsche Bank’s Chief Country Officer for Indonesia, commented: “We
have deep roots in Jakarta and Indonesia and are proud of the strong business
that we have built over the past 54 years. This additional capital is a recognition
of our success to date and ongoing potential. It underscores the importance of
Indonesia, which is the cornerstone of the ASEAN region, to Deutsche Bank
globally and our clients. We look forward to further cementing our position in
the country.”
BaFin
Imposes €170,000 Fine on Deutsche Bank for Reporting Lapses
Finance
Magnates reported earlier that the Federal
Financial Supervisory Authority (BaFin) fined Deutsche Bank AG €170,000 for
its failure to promptly submit reports on suspicious transactions, a critical
measure in preventing money laundering and terrorist financing. BaFin
emphasized the serious implications of such lapses on the financial sector’s
integrity and broader efforts to combat illicit financial activities.
This
incident added to Deutsche Bank’s recent regulatory challenges, including a $25
million fine imposed by the Securities and Exchange Commission in September on
its subsidiary, DWS Investment Management Americas Inc. BaFin highlighted the
importance of timely submission of reports to enable swift action against
potential financial misconduct.
