960405

Deutsche Bank

Islamabad to

improve local

refinance

KARACHI: After, the inauguration of Islamabad Branch, the Deutsche Bank now owns three full-fledged branches in Pakistan. Since 1962 the Bank has been represented in Karachi. Its second branch in the country was opened in Lahore in 1983.

"Deutsche Bank has been strengthening its presence in Pakistan since 1991, when the country embarked on a course of deregulation, privatisation and financial liberalisation." "The establishment of a full branch presence in Islamabad will improve bank's strategic market position and local refinancing ability. The branch opens an important window to the government, improves bank's credibility as serious players, and reduces lead times in bringing deals to fruition," explains M Younas Khan, Group General Manager of Deutsche Bank, Pakistan.

Deutsche Bank's investment banking activities, concentrated in a division called Deutsche Morgan Grenfell, would receive added impetus through regular and close interface with important ministries, organs of state, and regulatory agencies. The location of entities such as the Corporate Law Authority and the Privatisation Commission at Islamabad, would enable the bank to assist their colleagues at Deutsche Morgan Grenfell in privatisation and corporate finance advisory activities, said Javed Iqbal, the Manager of the Islamabad branch. "We would also identify opportunities for our offshore, private banking business," he added.

Deutsche Bank Islamabad will be the latest addition to Deutsche Bank Group's extensive network of over 70 offices in 17 countries in the Asia/Pacific region. With total assets of DM 722 billion as at December 31, 1995, Frankfurt-based Deutsche Bank is the largest triple-A rated bank in the world and the largest bank outside Japan.