FINWIRE®

Deutsche Bank and Tai Fung Bank form bank alliance

March 16th, 2009

This alliance provides better geographic coverage and allows Deutsche Bank’s customers, using db-direct internet, Deutsche Bank’s electronic banking platform, to have cross border access to value-added cash management services.
Tai Fung Bank has a well established presence in the local community with 21 branches located throughout Macau. Through Tai Fung Bank’s extensive branch network, Deutsche Bank’s customers will enjoy access to cash and cheque collections services island-wide. This translates into faster turnaround time for cheque clearing and cash/cheque pick up. Details of such transactions executed via Tai Fung Bank will be available to customers through db-direct internet.

“With our extensive branch network, comprehensive banking services and long time presence in the local community, this alliance allows us to facilitate the operation and business of Deutsche Bank’s corporate customers in Macau..Our international business capacity will be strengthened through this partner bank relationship as Deutsche Bank is one of the world’s leading financial services provider with global presence.” said Mr. Chui Kai Cheong, Vice president of Tai Fung Bank Limited. “Thus we believe this strategic connection is an all-win for both Deutsche Bank, Tai Fung Bank Limited and our customers.”

“This bank partnership is an important milestone for our cash management services. Combining the strength of Deutsche Bank’s global cash management capabilities and the extensive network of Tai Fung Bank in Macau, we are able to equip our customers with a powerful technological platform and greater coverage to better address their daily business needs,” said Mr. Eric Koo, Deutsche Bank’s Head of Trade Finance & Cash Management Corporates in Hong Kong.

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