Deutsche Bank China today announced that it has received an Inter-bank Bond Settlement Agent licence from People’s Bank of China, allowing the Bank to provide end-to-end bond services to local corporates and financial institutions across the country, including bond trading and settlement services.
With this licence, Deutsche Bank is able to offer onshore settlement services on the OTC market − in addition to on-exchange − to a wider range of clients, including Renminbi trade settlement banks, insurance companies, QFIIs and RQFIIs, which will also help to boost the Bank’s fastgrowing Renminbi business.
Carl Wegner, Greater China Head of Global Transaction Banking at Deutsche Bank said: "We are very excited to be one of the three foreign banks to have the Inter-bank Bond Settlement Agent licence in China. Our clients will be able to gain efficiencies from using Deutsche Bank for all their bond services needs. At the same time, this will help us to extend our client base to new segments.”
Beng Hong Lee, Head of Markets at Deutsche Bank China, added: “Receiving the Inter-bank Bond Settlement Agent licence is an important milestone for us, especially as we continue to deepen our reach in this large market. Inter-bank trading activities represent more than 94% of the bond market in China, so this licence brings great potential to our fixed income trading franchise. In addition, our clients will directly benefit from this end-to-end onshore bond platform, which hinges on Deutsche Bank’s seamless service delivery and world-class capabilities across the Bank.”
For further information, please contact:
Karène Dufour Lo
Deutsche Bank AG
Tel: +852 2203 7846
Deutsche Bank China
Tel: +86 10 5969 8629
Deutsche Bank AG
Tel.: +852 2203 7077