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Deutsche Bank Sees Record Year for Its Saudi Arabian Unit

  • German lender continuing to invest in Saudi Arabian business
  • Local CEO sees opportunity next year even with slump in crude
Updated on

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.”