Deutsche Bank has doubled its total local capital to IDR10 trillion (€600m) for its operations in Indonesia.

The infusion of additional funds is intended to bolster the bank’s expansion efforts within the country, facilitating a broader range of services for its clients.

It also marks Deutsche Bank’s third capital increase in the Asia Pacific region this year, following previous investments in Vietnam and South Korea.

With a longstanding 54-year presence in Indonesia, a pivotal market within the bank’s ASEAN network, Deutsche Bank continues to strengthen its position.

Deutsche Bank’s offerings in Indonesia encompass a diverse suite of corporate banking solutions tailored for multinational companies, large local corporates, and financial institutions. The services span cash management, foreign exchange, custody, and trade finance.

In additon, the bank extends its portfolio to include investment banking services, covering fixed income and currencies.

Deutsche Bank Asia-Pacific, EMEA and Germany CEO and management board member Alexander von zur Muehlen said: “We continue to invest in Asia Pacific and expand in markets that are becoming increasingly strategic for our clients.

“We see long-term opportunity in Indonesia, which has one of the fastest-growing economies in Asia.

“Its well-established strength in resources is nicely complemented by its focus on emerging industries like technology and EV manufacturing. These factors, along with the country’s structural reform and economic transformation, position it strongly.”

Deutsche Bank Indonesia chief country officer Siantoro Goeyardi said: “We have deep roots in Jakarta and Indonesia and are proud of the strong business that we have built over the past 54 years. This additional capital is a recognition of our success to date and ongoing potential.

“It underscores the importance of Indonesia, which is the cornerstone of the ASEAN region, to Deutsche Bank globally and our clients. We look forward to further cementing our position in the country.”