Deutsche Bank said yesterday it has received approval from the China Banking Regulatory Commission, China’s banking watchdog, to open a branch in Tianjin, its fourth branch in China.

The Tianjin branch will offer corporate and institutional clients a broad range of first-class financial services including credit and loan, trade financing, international settlements, corporate finance management, foreign exchange and preventing rate risks.

"Tianjin is a leader in the Bohai Sea Rim economies and has great potential in financial services. The Tianjin branch is a key part of DB’s national network and our investment focus in 2009. We will offer more corporate clients in Tianjin first-class financial services", Zhang Hongli, Operating Director of Deutsche Bank (China), said.

Founded in 1870 in Germany, Deutsche Bank is one of the world’s leading international financial services providers, serving more than 14 million clients in 72 countries and markets.

On 1 January 2008, Deutsche Bank (China) Co., Ltd. (“DB China”) was officially established in China and headquartered in Beijing. It also has branches in Guangzhou and Shanghai.

By Guo Changdong