Deutsche Bank and Shinhan Bank today celebrate 20 years of Euro clearing partnership.
Deutsche Bank has been providing Euro clearing services to Shinhan Bank’s overseas subsidiaries since 1998. With its extensive network in Europe, Deutsche Bank has been able to help Shinhan Bank to make faster payments to its corporate and retail beneficiaries. The long-standing relationship between the two banks has also allowed them to build a strong cyber-security network to prevent payment frauds.
Shinhan Bank, an affiliate of Shinhan Financial Group (SFG), is a leading financial holding company in Korea and offers a wide range of financial products and services, such as Banking, Consumer Finance, Insurance, Asset Management, Brokerage and others. SFG is listed on both the Korea Exchange (KRX) and the New York Stock Exchange (NYSE).
Nancy So, APAC Head of Institutional Cash Management at Deutsche Bank, said: “Being the #1 Euro clearing bank in the world allows us to provide best-in-class services to our Asian financial institution clients, especially as they continue to expand outside of the region and Korea is an important market for us. We are delighted to celebrate our 20-year anniversary with Shinhan Bank.”