Deutsche Bank named top GS securities dealer in 2011

MANILA, Philippines - Deutsche Bank has been named by the Philippines’ Bureau of the Treasury as the No.1 dealer in the primary market of local government securities for the year 2011, covering the period from October 2010 to September 2011.

In 2011, Deutsche Bank moved to the top spot from third in the previous year, outperforming the other nine top dealers.

Deutsche Bank, which was also awarded the No. 1 ranking in 2006, has again been recognized for its excellent performance at auction of treasury bills and treasury bonds in the Philippines’ primary market.

“The accolade demonstrates Deutsche Bank’s long-standing commitment to the financial markets in the Philippines, and affirms our strength as a leading market maker in providing continuous liquidity to the markets,” according to Enrico Cruz, chief country officer for the Philippines, Deutsche Bank.

“With our strong on-the-ground expertise and network, Deutsche Bank will continue to work closely with the government to further develop the local bond market.”

Deutsche Bank has made significant contributions to both the onshore and offshore debt markets of the Philippines.

Last October, Deutsche Bank acted as joint issue coordinator in the P110 billion Retail Treasury Bond (RTB) offering of the Bureau of the Treasury.

This marked the first time that a foreign bank was mandated on an RTB transaction.

In the offshore debt markets, Deutsche Bank has participated in multiple landmark transactions for the Republic of Philippines, including Asia’s first ever offshore local currency bond issue in September 2010, which received a number of prestigious industry awards.