Deutsche Bank has opened its first bank in Qingdao, its sixth Chinese branch overall.
The office will offer cash management, trade finance and loan services to corporate and financial institution clients, including account services, payables and receivables, liquidity management, loans, foreign exchange and supply chain solutions.
It joins Beijing, Shanghai, Guangzhou, Tianjin and Chongqing as Chinese cities with a Deutsche Bank presence.
Feng Gao, the bank’s chief country officer in China, says: “The opening of this new branch is an important step in the execution of our strategy. Qingdao is a thriving city home to both multinational companies looking to penetrate local markets, and large-scale domestic companies looking for outbound growth opportunities. Through our deep local knowledge and support from a robust global network, we are confident that we can deliver competitive e-products and solutions that will help our clients in this part of the country to achieve their business targets with greater efficiency.”
The bank’s head of global transaction services Werner Steinmueller says: “With our new branch in Qingdao, more corporates and financial institutions will have access to our transaction banking products and services. We remain committed to developing long-term relationships with our clients and to supporting their growth ambitions both locally and internationally.”