Despite recent challenging market conditions, Deutsche Bank performed well, not only in 2006 – when its profits growth and RoE mirrored a great year – but also in 2007, which, although displaying a slower growth in profits, indicated good performance.
Last year was particularly lively for Deutsche Bank. Aside from strengthening its position in the domestic market, it embarked on a series of cross-border takeovers, further developing its international brand.
In Germany, the acquisitions of Berliner Bank and Norisbank boosted Deutsche’s private clients and asset management business, and supported the expansion of its structured and retirement product offerings.
The retail network was expanded in Poland and the higher number of branches helped to launch a new consumer finance platform. In the UK, the acquisition of Tilney Group developed Deutsche Bank’s wealth management offering and the acquisition of JPMorgan’s clearing centre broadened its range of services for money market instruments.
Outside of Europe, Deutsche Bank has opened new branches in India, established partnerships in China with Hua Xia and Harvest Fund Management, and it now has business and private banking branches in Beijing and Shanghai. The bank has also entered into a partnership in Vietnam with Habubank.
The acquisition of United Financial Group helped the bank to establish an investment banking presence in Russia, and business was expanded in Mexico through Deutsche IXE and a mortgage joint venture with Fincasa Hipotecario. Islamic banking was also a growth area: Deutsche Bank opened offices in Dubai, Riyadh and Qatar.
