Tuesday, August 20, 2019

‘No impact on Thailand’ from Deutsche Bank’s radical global restructuring

Jul 09. 2019
Pimolpa Suntichok
Pimolpa Suntichok
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By The Nation

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Deutsche Bank’s decision to cut 18,000 jobs worldwide as part of its radical restructuring will have no impact on its banking business in Thailand, the bank’s chief for Thailand said.

“Basically we are now focusing on our strengths, which are transactional banking, foreign exchange, risk hedging, capital markets, debt financing solutions, strategic advisory,” Pimolpa Suntichok, Deutsche Bank Thailand’s country officer and general manager, said.

“We’ll exit equity sales and trading globally to release capital usage and allocate more capital to core businesses.”

The reorganisation will refocus the bank around clients to our core strength and invest 13 billion euros (Bt449 billion) by 2022 in technology to drive efficiency and improve products and services.

“DB Thailand will continue to serve clients as normal and clients should rest assured that all the changes globally will give us the best focus to give our clients the best service with sustainable business in the long-term,” Pimolpa said.

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