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PM launches Deustche Bank’s IFSC Banking Unit

August 01, 2022

PM launches Deustche Bank’s IFSC Banking Unit
The Honourable Prime Minister, Shri Narendra Modi, today launched the IFSC Banking Unit (IBU) of Deutsche Bank AG at Gift City, Gujarat.

The IBU will provide all approved international financing products, to Deutsche Bank’s clients in India and overseas, thereby facilitating easy access to innovative solutions that help improve business efficiencies.

Deutsche Bank proposes to commence its business in Gift City with credit facilities for corporate clients and will provide a suite of products across Trade Finance, Fixed Income & Currencies initially. In addition, within the framework of extant guidelines, it will facilitate cash pooling and other deposit propositions for Indian and international clients.

“We are privileged that our IBU was inaugurated under the aegis of Shri Narendra Modi, the honourable Prime Minister of India. Deutsche Bank has been in Asia Pacific for 150 years and in India for 42 years, and our presence at Gift City only underscores our strong commitment to this country. The IBU will help provide our clients in India and overseas with access to the best suite of financial solutions and services that India has to offer,” said Alexander von zur Mühlen, CEO of Deutsche Bank, Asia Pacific and Member of the Management Board. “Congratulations to the Indian Government for conceptualising and establishing GIFT City, and we look forward to a fruitful association for many decades to come.”

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