Commerzbank obtains license for branch in Dubai
Commerzbank, Germany's second largest bank, today announced that it has been granted a license by the Dubai Financial Services Authority (DFSA) to open a new branch in the Dubai International Financial Centre (DIFC).
As Commerzbank's 21st branch outside its home country, the new unit is intended to give the bank a gateway into the Middle East finance sector and provide the region with access to investment markets in Europe. It will also serve as a financial partner for its German and Arab customers' international trade relationships.
The new branch will provide a wide range of banking services for both corporate customers and institutional investors within the Middle East. These will include structured investment products, derivatives, trade finance and transaction banking, as well as asset management via Cominvest. Commerzbank will also offer access to the region's first specialist international bank for real estate, providing the full range of structured real estate financing services through its Eurohypo subsidiary. Source
As Commerzbank's 21st branch outside its home country, the new unit is intended to give the bank a gateway into the Middle East finance sector and provide the region with access to investment markets in Europe. It will also serve as a financial partner for its German and Arab customers' international trade relationships.
The new branch will provide a wide range of banking services for both corporate customers and institutional investors within the Middle East. These will include structured investment products, derivatives, trade finance and transaction banking, as well as asset management via Cominvest. Commerzbank will also offer access to the region's first specialist international bank for real estate, providing the full range of structured real estate financing services through its Eurohypo subsidiary. Source
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