deutsche-gtb-head-sees-growth-in-trade-and-fx-businesses

Deutsche GTB head sees growth in trade and FX businesses

Growth will come in cross-border payments and supply chain financing, says Werner Steinmueller, Deutsche Bank's head of global transaction banking.

Deutsche Bank continues to expand its cross-border payments business with another three Chinese financial institutions signing up for its products, while demand for supply chain financing remains strong.

China Merchants Bank and China Minsheng Bank have signed up for Deutsche's FX4Cash cross-border payments solution. The system will allow the banks to simplify their international payments through a specialised portal on Deutsche's db-direct website.

And in a mandate that combines both cross-border payments and trade finance, Deutsche has signed a memorandum of understanding with Agricultural Bank of China to facilitate trade and payment volume flows. Under the agreement, the Chinese bank will incorporate Deutsche's new money transfer technology to provide clients in Greater China with...

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