MANILA, Philippines – Deutsche Bank has been named Asia ’s leading foreign exchange (FX) bank by market share, capturing nearly 27 percent of all market turnover according to a survey by Euromoney.
According to the survey, which polled over 12,000 corporate and institutional FX clients globally, Deutsche Bank’s market share in Asia grew in 2008 to 26.45 percent from 24.08 in 2007. Volumes in FX markets globally last year were $175.3 trillion.
Deutsche Bank chief country officer for the Philippines Enrico Cruz said the bank’s increase in market share was the result of strong support for its clients as market volatility reached its peak in the second half of 2008.
Euromoney’s 2009 Global FX Survey also named Deutsche Bank as the leading FX bank globally for the fifth straight year, accounting for 20.96 percent of all market turnover.