Deutsche Bank set to open in Ghana

Deutsche Bank, arguably Europe’s and the world’s biggest bank is planning to open a sales office in Ghana.

This is part of moves to expand its Africa operations. The news comes after media reports indicated that, JP Morgan Stanley and HSBC Bank were also considering rolling out representative offices in the country.

Already, Citi Bank has been operating in Ghana since 2010. XYZ BUSINESS has learnt that France biggest bank, BNP Paribas and Bank of America are also considering opening subsidiaries in Accra, to take advantage of the growing financial market here, where 90 percent of banks are recording substantial growth.

Deutsche Bank is already present in Nigeria and South Africa, whilst there are ongoing plans to open an office in Kenya. It intends to focus on international payments and trade finance in West Africa. The bank is joining lenders such as; Barclays Plc and Citigroup in building a presence in Africa.