Deutsche Bank granted banking licence in Malta

Deutsche Bank has been granted a banking licence by the Malta Financial Services Authority, thereby increasing the number of reputable international financial institutions operating in Malta.

The global bank, which is headquartered in Frankfurt, employs more than 81,000 people in 76 countries and has a large presence in Europe, North and South America, Asia Pacific and the emerging markets. It also has offices in all the world's major financial centres, including one in Malta at the Portomaso Business Tower in St Julians.

Deutsche Bank is listed on both the Frankfurt and New York stock exchanges and at the end of 2008 had total assets worth €2.202 trillion. It offers financial products and services for corporate and institutional clients along with private and business clients.

The services offered include sales, trading and origination of debt and equity, mergers and acquisitions, risk management products such as derivatives, corporate finance, wealth management, retail banking, fund management and transaction banking.

During an official visit to Germany in January last year, Prime Minister Lawrence Gonzi participated in a business breakfast at Deutsche Bank's headquarters. During a joint press conference with Dr Gonzi Chancellor Angela Merkel had told the media that Germany was keen to increase its investment in Malta.

The Maltese government is targeting the financial services sector to be one of the main pillars of the economy by 2015.

Deutsche Bank was founded in Germany in 1870 as a specialist bank for foreign trade in Berlin. It describes its mission as competing "to be the leading global provider of financial solutions, creating lasting value for our clients, our shareholders, our people and the communities in which we operate".

On its corporate website the bank says: "Deutsche Bank is clear: we are here to perform - in business and beyond. We do this with a unique mix of passion and precision. This measured approach gives us the confidence to enable agile minds to look beyond the obvious, gaining advantage for everyone we work with."