Deutsche Bank today announced the launch of its award winning FX trading platform, Autobahn, in Pakistan, offering 11 currency pairs to the Pakistani rupee.
The award-winning Autobahn trading platform offers corporate and institutional clients online access to manage cash and liquidity positions, plus digital access to dedicated services like trade finance, trust & agency services and securities services.
The platform launch in Pakistan reflects the bank’s strategic push into the market as it records higher client demand for cross-border banking solutions and increased uptake of digital banking tools.
Deutsche Bank Pakistan Chief Country Officer Syed-Kamran Zaidi said: “Pakistan is benefitting from growing trade volumes 24% up in 2021 in the corridors between the Middle East, Europe and Asia, so we are investing to support client participation in this cross-border trade. In 2020, the European Union accounted for 14% of Pakistan’s total trade volumes.”
The bank’s Global Emerging Markets desk was set up in Pakistan in 2019. Since then, the desk has been growing in terms of client volume and market activity. Cross border FX trade volume has increased by 17% over the last two years despite the global pandemic.
In addition to higher trade volumes, both foreign corporate clients and onshore institutional clients are increasingly turning to digital platforms to conduct business.
Head of Global Emerging Markets Pakistan Umair Choudhary said: “With Covid-19, clients have become more accustomed to using digital platforms and trading tools, even for complex transactions like foreign exchange hedging.
“Autobahn offers clients in Pakistan a comprehensive suite of digital FX solutions, including the most traded currency pairs USDPKR and EURPKR,” Choudhary added.
The introduction of Autobahn FX in Pakistan is the foundation for expanding Deutsche Bank’s digital payments, collection and hedging capabilities to serve clients’ local currency needs both onshore and overseas.
Some clients have already been onboarded onto the trading platform, which will be progressively rolled out to all clients in Pakistan.
The bank’s Pakistan branch has a full commercial banking license and provides corporate banking and investment banking services. It has one of the largest local custody businesses among all banks, and facilitates more than 40% of onshore institutional investment flows.
For further information, please contact:
Deutsche Bank AG Mohanad Nahas Phone: +971(4)3611-754 Email: mohanad.nahas@db.com
About Deutsche Bank Pakistan
Deutsche Bank established its first presence in Pakistan 60 years ago in 1962. Today, Deutsche Bank employs close to 100 staff in its Karachi and Lahore branches. With a strong local presence, Deutsche Bank offers Pakistan-based clients with a wide range of Corporate and Investment Bank products and services, including foreign exchange, fixed income sales and trading, cash management, trade finance and treasury solutions for corporates (current, saving and deposit accounts, overdraft facilities, structured and vanilla trade finance solutions, etc).
Having access to the expertise of the bank’s regional and global teams, Deutsche Bank Pakistan also offer corporate clients based in the country corporate finance solutions, M&A advice, debt and equity capital market products (both conventional and ESG compliant) and structured trade finance solutions.
Disclaimers and disclosures
This release contains forward-looking statements. Forward-looking statements are statements that are not historical facts; they include statements about our beliefs and expectations and the assumptions underlying them. These statements are based on plans, estimates and projections as they are currently available to the management of Deutsche Bank. Forward-looking statements therefore speak only as of the date they are made, and we undertake no obligation to update publicly any of them in light of new information or future events.
By their very nature, forward-looking statements involve risks and uncertainties. A number of important factors could therefore cause actual results to differ materially from those contained in any forward-looking statement. Such factors include the conditions in the financial markets in Germany, in Europe, in the United States and elsewhere from which we derive a substantial portion of our revenues and in which we hold a substantial portion of our assets, the development of asset prices and market volatility, potential defaults of borrowers or trading counterparties, the implementation of our strategic initiatives, the reliability of our risk management policies, procedures and methods, and other risks referenced in our filings with the U.S. Securities and Exchange Commission. Such factors are described in detail in our SEC Form 20-F of 20 March 2020 under the heading “Risk Factors”. Copies of this document are readily available upon request or can be downloaded from www.db.com/ir.
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Deutsche Bank today announced the launch of its award winning FX trading platform, Autobahn, in Pakistan, offering 11 currency pairs to the Pakistani rupee.
The award-winning Autobahn trading platform offers corporate and institutional clients online access to manage cash and liquidity positions, plus digital access to dedicated services like trade finance, trust & agency services and securities services.
The platform launch in Pakistan reflects the bank’s strategic push into the market as it records higher client demand for cross-border banking solutions and increased uptake of digital banking tools.
Deutsche Bank Pakistan Chief Country Officer Syed-Kamran Zaidi said: “Pakistan is benefitting from growing trade volumes 24% up in 2021 in the corridors between the Middle East, Europe and Asia, so we are investing to support client participation in this cross-border trade. In 2020, the European Union accounted for 14% of Pakistan’s total trade volumes.”
The bank’s Global Emerging Markets desk was set up in Pakistan in 2019. Since then, the desk has been growing in terms of client volume and market activity. Cross border FX trade volume has increased by 17% over the last two years despite the global pandemic.
In addition to higher trade volumes, both foreign corporate clients and onshore institutional clients are increasingly turning to digital platforms to conduct business.
Head of Global Emerging Markets Pakistan Umair Choudhary said: “With Covid-19, clients have become more accustomed to using digital platforms and trading tools, even for complex transactions like foreign exchange hedging.
“Autobahn offers clients in Pakistan a comprehensive suite of digital FX solutions, including the most traded currency pairs USDPKR and EURPKR,” Choudhary added.
The introduction of Autobahn FX in Pakistan is the foundation for expanding Deutsche Bank’s digital payments, collection and hedging capabilities to serve clients’ local currency needs both onshore and overseas.
Some clients have already been onboarded onto the trading platform, which will be progressively rolled out to all clients in Pakistan.
The bank’s Pakistan branch has a full commercial banking license and provides corporate banking and investment banking services. It has one of the largest local custody businesses among all banks, and facilitates more than 40% of onshore institutional investment flows.
For further information, please contact:
Deutsche Bank AG
Mohanad Nahas
Phone: +971(4)3611-754
Email: mohanad.nahas@db.com
About Deutsche Bank Pakistan
Deutsche Bank established its first presence in Pakistan 60 years ago in 1962. Today, Deutsche Bank employs close to 100 staff in its Karachi and Lahore branches. With a strong local presence, Deutsche Bank offers Pakistan-based clients with a wide range of Corporate and Investment Bank products and services, including foreign exchange, fixed income sales and trading, cash management, trade finance and treasury solutions for corporates (current, saving and deposit accounts, overdraft facilities, structured and vanilla trade finance solutions, etc).
Having access to the expertise of the bank’s regional and global teams, Deutsche Bank Pakistan also offer corporate clients based in the country corporate finance solutions, M&A advice, debt and equity capital market products (both conventional and ESG compliant) and structured trade finance solutions.
Disclaimers and disclosures
This release contains forward-looking statements. Forward-looking statements are statements that are not historical facts; they include statements about our beliefs and expectations and the assumptions underlying them. These statements are based on plans, estimates and projections as they are currently available to the management of Deutsche Bank. Forward-looking statements therefore speak only as of the date they are made, and we undertake no obligation to update publicly any of them in light of new information or future events.
By their very nature, forward-looking statements involve risks and uncertainties. A number of important factors could therefore cause actual results to differ materially from those contained in any forward-looking statement. Such factors include the conditions in the financial markets in Germany, in Europe, in the United States and elsewhere from which we derive a substantial portion of our revenues and in which we hold a substantial portion of our assets, the development of asset prices and market volatility, potential defaults of borrowers or trading counterparties, the implementation of our strategic initiatives, the reliability of our risk management policies, procedures and methods, and other risks referenced in our filings with the U.S. Securities and Exchange Commission. Such factors are described in detail in our SEC Form 20-F of 20 March 2020 under the heading “Risk Factors”. Copies of this document are readily available upon request or can be downloaded from www.db.com/ir.