Deutsche Bank announced the signing of a co-operation agreement for Cash Management with China Construction Bank (CCB). Both banks will jointly provide their mutual customers in China access to their bank accounts at CCB via Deutsche Bank’s electronic banking platform. In addition, the arrangement will offer reciprocal banking services to local corporates in international markets. As most multinational companies will use local bank services for their Renminbi requirements, this collaboration between Deutsche Bank and CCB will greatly enhance and speed up the processes for corporate customers. It is anticipated that the two banks will have reciprocal business arrangements to facilitate business developments of Chinese corporate customers in international markets by employing Deutsche Bank’s global network. China Construction Bank (CCB) is a state-owned commercial bank with business focusing on medium and long-term lending. Headquartered in Beijing, CCB conducts operations across the Chinese territory as well as in major international financial centres. The July 2000 issue of the Banker magazine ranked China Construction Bank No. 32 among the world’s Top 1,000 banks.
A report by broking group Marsh examines the repercussions from the administration of the South Korean company, which filed for bankruptcy protection at the end of August.
Global research by C2FO suggests that smaller businesses are less concerned with the repercussions of Brexit and the upcoming US presidential election.
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