Deutsche Bank receives approval for China Type-A Lead Underwriting Licence
Deutsche Bank today welcomed the announcement by China’s National Association of Financial Market Institutional Investors (NAFMII) to grant Deutsche Bank (China) Co., Ltd. the Type-A Lead Underwriting Licence (Foreign Banks)
The Type-A Lead Underwriting Licence (Foreign Banks) is a full licence for Debt Financing Instruments by Non-Financial Enterprises in the China Interbank Bond Market, applicable for underwriting debt issuance by both local and foreign corporates (Panda bonds). The licence covers all debt instruments such as Medium Term Notes, Commercial Paper, Private Placement and Asset Backed Notes.
This is the most comprehensive underwriting licence to be granted to a foreign bank. Deutsche Bank is one of two foreign banks operating in China to receive approval for this licence. Deutsche Bank is already licenced as Lead Underwriter for sovereign, quasi-sovereign and financial issuers. China’s bond market has reached an outstanding size of CNY 93.2 trillion, or ca €11.8 trillion equivalent, as of 02 Sep 2019 .
Deutsche Bank has been an enduring partner for China’s economic and financial development since 1872, enabling investment and trade flows between Europe and China for over a century. Today, we actively support China’s capital market development, from internationalisation of the RMB to foreign investor access to the onshore bond market, where we are one of the most active foreign banks. Werner Steinmueller, Deutsche Bank Chief Executive Officer Asia Pacific and Member of the Management Board
“Receiving NAFMII’s approval for this Type-A Lead Underwriting Licence is testament to the strength of our onshore capabilities and our ability to connect China with the rest of the world by structuring and distributing China solutions across our global platform,” he said.
President of Deutsche Bank (China) Co., Ltd. Rose Zhu, said: “Deutsche Bank is proud to become a fully licenced foreign lead underwriter in the China interbank bond market. As a global bank with house strength in financing, debt markets and fixed income, we welcome the opportunity to widen our service offering to onshore clients through this new licence.”
Haitham Ghattas, APAC Head of Capital Markets at Deutsche Bank, said: “China is a key focus of our capital markets franchise in the region. Being granted a Type A licence recognises Deutsche Bank’s leadership in the debt markets and our commitment to this business.”
Deutsche Bank provides commercial and investment banking, retail banking, transaction banking and asset and wealth management products and services to corporations, governments, institutional investors, small and medium-sized businesses, and private individuals. Deutsche Bank is Germany’s leading bank, with a strong position in Europe and a significant presence in the Americas and Asia Pacific.
This press release has been approved and/or communicated by Deutsche Bank AG or by its subsidiaries and/or affiliates (“DB”). Deutsche Bank AG is authorised under German Banking Law (competent authority: BaFin - Federal Financial Supervisory Authority) and by the Prudential Regulation Authority and subject to limited regulation by the Financial Conduct Authority and Prudential Regulation Authority. Details about the extent of our authorisation and regulation by the Prudential Regulation Authority, and regulation by the Financial Conduct Authority are available from us on request. Securities and investment banking activities in the United States are performed by Deutsche Bank Securities Inc., member NYSE, NASD and SIPC, and its broker-dealer affiliates. Lending and other commercial banking activities in the United States are performed by Deutsche Bank AG, and its banking affiliates. Copyright (C) 2019 Deutsche Bank Aktiengesellschaft (Incorporated in the Federal Republic of Germany & members’ liability is limited).
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Deutsche Bank today welcomed the announcement by China’s National Association of Financial Market Institutional Investors (NAFMII) to grant Deutsche Bank (China) Co., Ltd. the Type-A Lead Underwriting Licence (Foreign Banks)
The Type-A Lead Underwriting Licence (Foreign Banks) is a full licence for Debt Financing Instruments by Non-Financial Enterprises in the China Interbank Bond Market, applicable for underwriting debt issuance by both local and foreign corporates (Panda bonds). The licence covers all debt instruments such as Medium Term Notes, Commercial Paper, Private Placement and Asset Backed Notes.
This is the most comprehensive underwriting licence to be granted to a foreign bank. Deutsche Bank is one of two foreign banks operating in China to receive approval for this licence. Deutsche Bank is already licenced as Lead Underwriter for sovereign, quasi-sovereign and financial issuers. China’s bond market has reached an outstanding size of CNY 93.2 trillion, or ca €11.8 trillion equivalent, as of 02 Sep 2019 .
“Receiving NAFMII’s approval for this Type-A Lead Underwriting Licence is testament to the strength of our onshore capabilities and our ability to connect China with the rest of the world by structuring and distributing China solutions across our global platform,” he said.
President of Deutsche Bank (China) Co., Ltd. Rose Zhu, said: “Deutsche Bank is proud to become a fully licenced foreign lead underwriter in the China interbank bond market. As a global bank with house strength in financing, debt markets and fixed income, we welcome the opportunity to widen our service offering to onshore clients through this new licence.”
Haitham Ghattas, APAC Head of Capital Markets at Deutsche Bank, said: “China is a key focus of our capital markets franchise in the region. Being granted a Type A licence recognises Deutsche Bank’s leadership in the debt markets and our commitment to this business.”
For further information, please contact:
Deutsche Bank AG
Media Relations
Karene Dufour / Sarah Stabler
Phone: +852 2203 7846/ +65 6423 8413
E-mail: karene.dufour@db.com / sarah.stabler@db.com
About Deutsche Bank
Deutsche Bank provides commercial and investment banking, retail banking, transaction banking and asset and wealth management products and services to corporations, governments, institutional investors, small and medium-sized businesses, and private individuals. Deutsche Bank is Germany’s leading bank, with a strong position in Europe and a significant presence in the Americas and Asia Pacific.
This press release has been approved and/or communicated by Deutsche Bank AG or by its subsidiaries and/or affiliates (“DB”). Deutsche Bank AG is authorised under German Banking Law (competent authority: BaFin - Federal Financial Supervisory Authority) and by the Prudential Regulation Authority and subject to limited regulation by the Financial Conduct Authority and Prudential Regulation Authority. Details about the extent of our authorisation and regulation by the Prudential Regulation Authority, and regulation by the Financial Conduct Authority are available from us on request. Securities and investment banking activities in the United States are performed by Deutsche Bank Securities Inc., member NYSE, NASD and SIPC, and its broker-dealer affiliates. Lending and other commercial banking activities in the United States are performed by Deutsche Bank AG, and its banking affiliates. Copyright (C) 2019 Deutsche Bank Aktiengesellschaft (Incorporated in the Federal Republic of Germany & members’ liability is limited).
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