Deutsche Bank expands into Portuguese custody market

by Richard Kilner

Story link: Deutsche Bank expands into Portuguese custody market

Today Deutsche Bank announced that it is to begin providing securities custody, clearing and related services to institutional investors to Portugal’s market.

With the addition of the Portuguese market, Deutsche Bank’s Domestic Custody Services operates within 29 markets around the world.

Its expansion into Portugal marks the completion of its custody offering to the Euronext markets.

Deutsche Bank has forged a direct link between the Portuguese Central Depository (Interbolsa), the central bank (Banco de Portugal) and its Euronext platform.

This link will help to ensure swift, efficient, operation of services.

Global Transaction Banking chief Werner Steinmueller described the move as a reinforcement of the German bank’s commitment to its custody business.

Source (press release): http://www.db.com/presse/en/content/press_releases_2008_3939.htm?month=1