Deutsche Bank, the leading German bank with strong European roots and a global network, has announced that it has been granted licence by the Ministry of Investment of Saudi Arabia (MISA) to set up its regional headquarters in Riyadh and launch its operations from the kingdom.
The regional headquarters will serve as a central platform for Deutsche Bank’s regional management, strategic decision-making and corporate functions across the Middle East region.
It will further enhance the Bank’s ability to support clients across corporate banking, investment banking and wealth management, while aligning with Saudi Arabia’s ambitions under Vision 2030 to strengthen its position as a leading regional financial hub.
The licence comes as Deutsche Bank celebrates 20 years of presence in the kingdom, having established its Riyadh branch in 2006, which operates under a full commercial banking license and is regulated by the Saudi Central Bank (SAMA).
Over the past two decades, the Bank has built a strong and diversified platform in Saudi Arabia, further complemented by Deutsche Securities Saudi Arabia (DSSA), established in 2007 and regulated by the Capital Market Authority (CMA).
On the ministry approval, Jamal Al Kishi, Deutsche Bank’s Chief Executive Officer for Middle East and Africa, said: “Saudi Arabia and the Middle East are a key growth market for Deutsche Bank and therefore receiving this regional headquarters license marks an important step towards realizing our strategic business expansion targets in the region.”
“Among other things, it enhances our ability to deliver on our Global Hausbank strategy — being a trusted partner to our clients wherever they operate. As a leading global bank with strong European roots and a unique network spanning the globe, we are well positioned to connect our Saudi and regional clients to opportunities in Europe, Asia, the Americas and Africa while pursuing the attraction of foreign direct investments into Saudi Arabia and other regional markets,” he added.-TradeArabia News Service
