Deutsche Bank intends to increase its capital for business in Pakistan from Euro 16.48 million (PKR 1.160 billion) to a total of Euro 34.96 million (PKR 2.46 billion).
Colin Grassie, CEO of the bank in Asia Pacific region, announced the increase on Saturday. "The increase in capital is a sign of our strong to further the development of our business in Pakistan" Grassie said.
"Pakistan is a country where Deutsche Bank sees considerable opportunity for expansion. We are investing by way of additional capital and have also recently moved Shazad Dada from Deutsche Bank in New York as Chief Country Officer and Head of Global Banking, to spearhead our growth strategy in Pakistan.
We will build on our client coverage model in Pakistan and are undertaking a strategic review of products and services we can deliver here in the future", Grassie maintained.