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| Sunday, 6 March 2005 |
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| News Business Features Editorial
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Deutsche Bank has long term vision for Lanka by Hiran H. Senewiratne Deutsche Bank (DB) Chief Country Officer (CCO) - Head of Global Banking Division, Stefan Mahrdt said that the Bank has a long term vision for Sri Lanka, as it is one of the emerging economies in the region. "We have a vision for Sri Lanka where our local banking operations are concerned," Mahrdt told the Sunday Observer. He said that the Bank has performed well in Sri Lanka irrespective of all uncertainties during the last 25 years' operations as a overseas bank. "We have structured our business independently to face any situation," Mahrdt said. He said that Sri Lanka's strategic location, close to the Indian sub-continent and the high literacy rate, prompted them to expand their horizons in the country. Mahrdt said that last year the Bank performed extremely well in terms of revenue with the market share growing due to the strong focus on clients especially multi-national and large corporate sector companies. The bank is investing heavily in IT and its staff, which are of paramount importance on their way to become a major overseas banking force in the country, he said. Mahrdt said their state-of-the-art IT platform is one of the best in the country. DB is strategically competitive in the sector and works with other banks when its comes to syndication of large financial projects. The Bank has tied up with Sampath Bank and Hatton National Bank, he said. "We want to focus on corporate banking in the country without going for the mass market," Mahrdt said. The Bank has strong capabilities in the global marketing arena ie - financial hedging and investment, manage international trade finances, serving local banking remittances and cash management systems, he said. He said that the cash management system is one of the value added products of the Bank, which deals closely with Sampath Bank. Under this system all financial clearing solutions will be done electronically to optimise the quality of the back-end operations of their clients including dividend payment, fixed deposits, domestic and international payments in the corporate sector. DB also constantly supports the people who have been affected by the tsunami as a part of their corporate social responsibility. It will re-construct houses, schools and day care centres in the affected areas, Mahrdt said. DB has the strongest branch network in Asia which 30 offices operating in 15 countries with a staff of 6,000. |
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