WikiFX Visited Deutsche Bank in Malaysia

Background

This July, Deutsche Bank announced its strategic transformation plan to exit equities sales & trading business and cut business costs, significantly downsizing the investment bank as a result. The big step immediately made headlines around the world. As an international bank with 150 years of history, Deutsche Bank was named the “Best Private Bank in Germany” for 3 years in a row and had a market share as high as 15.68%. The company‘s strategic restructure not only became a global market focus, but also raised investors’ concerns about how Deutsche Bank‘s forex business will be affected. Upon investors’ request, WikiFX visited Deutsche Banks licensed office in Malaysia.

Brokers profile

Name: Deutsche Bank

Location: Malaysia

Regulatory status: in regulation

Conclusion: the company truly exists

Website: https://china.db.com/china/index.html

Address: level 9 (G2) main office tower, financial park complex, jalan merdeka, 87000 labuan F.T

On-the-spot investigation

As per regulatory information, WikiFX team arrived at Financial Park Complex where Deutsche Bank is located. We got to level 9 according to the floor directory and found the licensed office of Deutsche Bank at office G2, level 9. The office appeared spacious and had about 10 office cubicles. However, we weren‘t admitted into the office as we didn’t make an appointment in advance.

Further investigation

From the website of Labuan Financial Services Authority (LFSA), we learned that Deutsche Bank holds MM license from the institution and is in business under valid regulation.

In addition, the annual survey on forex industry by international finance magazine Euromoney shows Deutsche Bank‘s global market share in 2019 reached 8.41%, advancing 6 places year-on-year and ranking second, next to JP Morgan whose market share amounted to 9.81%. The fact that Deutsche Bank’s forex market share had increased rather than dropped suggests the strategic restructure has scarcely affected its forex business. Besides the reduction in exchange business, the company also intends to step up investment in its leading businesses, including forex products and services.

Investigation summary

We conclude from the visit that location of Deutsche Bank‘s Malaysian licensed office corresponds to its address from regulatory information, and the company is in business under regulation. As Werner Steinmueller, Deutsche Bank’s Asia Pacific CEO observed, Deutsche Banks transition, though significantly downsizing its investment bank in Asia Pacific, will lead to an even more steady development of the company.

Conclusion

WikiFX App indicates Deutsche Bank is rated at 6.02 and holds the MM license issued by LFSA, currently in valid regulation. If you‘re interested in finding out more about forex brokers, please visit WikiFX website www.wikifx.com or WikiFX App, as we continue to bring you more forex and brokers’ information.