Deutsche Bank Doubles Its Capital In Indonesia To IDR 10 Trillion

Illustration of Deutsche Bank (Photo: dock. Unsplash)

JAKARTA - Deutsche Bank will double its local capital in Indonesia. The amount is 600 million euros or equivalent to IDR 10 trillion.

The purpose of the German banking company wants to support business activities in Indonesia.

CEO of Deutsche Bank for Asia-Pacific, Europe, the Middle East & Africa (EMEA) and Germany as well as Member of the Board of Management Alexander von zur Muehlen said this additional capital was the third to be carried out in Asia Pacific so far this year, after previously investing in Vietnam and South Korea.

"We continue to invest in Asia Pacific and expand into increasingly strategic markets for our clients. We see long-term opportunities in Indonesia, which is one of the fastest-growing economies in Asia," Muehlen said, quoting Antara.

Muehlen said factors, such as excellence in terms of resources, focus on new industries such as technology and manufacturing of electric vehicles, as well as structural reforms and economic transformation, have strengthened Indonesia's position.

"We are confident in Indonesia's future and will continue to develop with our clients here," said Muehlen.

On the same occasion, Deutsche Bank's Chief Country Officer for Indonesia Siantoro Goeyardi said this additional capital is a manifestation of the company's success and sustainable potential in the future, as well as underlining the importance of Indonesia, which is the basis of the ASEAN region for the company globally.

"We hope to further strengthen our position in this country," said Siantoro.

For information, Deutsche Bank provides corporate banking solutions to various multinational companies, large local corporations, and financial institutions in Indonesia, which include cash management, FX, custodians, and trade finance.

In addition, the company also offers investment banking services, including fixed income and currency.