Deutsche Bank Sees Record Year for Its Saudi Arabian Unit - Bloomberg Business

Deutsche Bank Sees Record Year for Its Saudi Arabian Unit - Bloomberg Business:

"Deutsche Bank AG expects its best-ever performance in Saudi Arabia this year even as oil slumps and the country’s economic growth slows, according to Jamal Al Kishi, chief executive officer of the lender’s local unit.
“2015 has been a record year for us in Saudi Arabia, mostly driven by structured financing and M&A work,” Al Kishi, head of Deutsche Securities Saudi Arabia, said in an interview in Riyadh, declining to give financial details. “For Deutsche Bank, the business in Saudi Arabia is one of the largest contributors to the Middle East and Africa sub-region, and we see that reflected in the continued investment and commitment here.”
The Frankfurt-based lender was among banks that arranged a 2 billion riyal ($530 million) bond for Riyadh’s Arab National Bank in September and participated in a $10 billion loan for oil producer Saudi Aramco in March. It’s also advising Aramco on a potential acquisition of some marketing, retail and refining assets from China National Petroleum Corp., people with knowledge of the matter said in October."



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