If you’re looking to open a business bank account, Euromoney announced recently that Deutsche Bank is their pick for both Best Global Investment Bank and for Best Bank in Germany.
Euromoney highlighted Deutsche Bank’s ability to remain profitable during a major internal restructuring aimed at reducing their level as risk as one of the key components to their decision.
Josef Ackermann, the German banking institution’s CEO and recipient of last year’s Lifetime Achievement Award, expressed pleasure that Euromoney recognized that Deutsche Bank’s swift efforts to adapt to the turbulent seas being faced by the world financial markets end the global economic downturn.
This swift adaptation is nothing new for Deutsche Bank. Founded in 1870 during a period of economic turmoil precipitated by the industrialization of Europe, the banking institution has a reputation for adapting to new situations, has grown rapidly during its inception and has weathered storms such as skyrocketing inflation in the years after the Great War; chequebooks were stuffed with such absurdities as banknotes for 20 billion marks. Despite this and other challenges the bank has bounced back and flourished well into the 21st century.
The head of Deutsche Bank’s business bank accounts division, the Corporate and Investment Bank’s Anshu Jain praised the bank’s staff for their ability to facilitate a reduction in risk whilst increasing market share. Fellow Management Board member Michael Cohrs also expressed a similar sentiment.
This marks the 19th consecutive year that Euromoney has been singling out outstanding finance institutions. Since 1992, both globally and in Europe, the awards have grown to cover nearly 100 different countries around the world. The magazine itself was created in 1969 by Sir Patrick Sergeant to cover the developments in the global cross-border venture capital and working capital markets.