The FINANCIAL — Deutsche Bank on June 9 announced the addition of Portugal to the expanding network of markets in which it provides securities custody, clearing and related services to institutional investors.
As a result of this latest development, Domestic Custody Services at Deutsche Bank, part of the Global Transaction Banking division, now provides custody services in 29 markets in Europe, Asia, the Middle East and the Americas.
The addition of Portugal completes Deutsche Bank's custody offering in Euronext markets; it already offers custody in Belgium, France and the Netherlands. To facilitate timely service, the bank has established a direct link between its Euronext platform and the Portuguese Central Depository, Interbolsa, and the Central Bank, Banco de Portugal.
Commenting on the move, Werner Steinmueller, Head of Global Transaction Banking, said, "This latest enhancement of our regional service offering reinforces Deutsche Bank's commitment to the custody business and demonstrates that we continue to extend our products and services to markets where there is client demand. Clients in Portugal can now benefit from our full range of transaction banking services covering cash management, trade finance services and now also securities custody."
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