The cornerstone of any economy of any country are banks and financial institutions. They provide financial services that allow businesses to emerge and grow. Let us take a closer look at two of the world’s most renowned financial institutes – Deutsche Bank and American Express.
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Deutsche Bank
Deutsche Bank is a German investment bank that operates worldwide in more than 70 countries. It is mainly an investment bank and offers financial services as well.
It has three main branches – the commercial (private) bank, the investment (corporate) bank, and the asset management, division.
Deutsche Bank offers many services to its customers including sales, trading, risk management products, wealth management services, fund management and of course retail banking.
As of 2017, Deutsche Bank is the seventeenth largest bank in the world as per worth of total assets. Its revenue stands around 30 billion euro as of 2016. It has a very good presence in emerging markets and currently employs just about 100,000 employees across the globe.
Philosophy
The objective of the bank is expanding its banking operations and also create and promote trade relations between Germany and other European and world markets.
Their mission is to use their economic success to create value for their shareholders, employees, customers, and society as a large. But at the same time, they wish to follow the strict environmental and economic norms towards a more sustainable future.
Deutsche Bank in India
Deutsche Bank has had a presence in India since 1980. It currently has branches in sixteen cities in India and employs over 11000 people. Deutsche Bank has managed to acquire 500,000 customers in India and has fully integrated itself in the Indian banking sector.
American Express
American Express is an American financial services corporation. It is most famous for three of their main products – credit cards facility, change cards and travellers’ cheques. American Express was founded in 1850 in New York in the USA. And now it operates in 175 countries of the world.
American Express is one of the largest credit card service provider in the world. So in 2016, nearly 22.9% of the volume of credit card transactions (in USD value) were American Express cards.
In fact, there are nearly 112.8 million of their cards in the world, and about 50 million of them are in the USA.
Its current revenue is around 33.47 billion dollars. It employs 55,000 people across its 2300 offices in the world. Forbes named it the 23rd most valuable brand in the world.
American Express in India
American Express started their operations in India in 1921 in Kolkatta. It now provides a large number of financial services such as credit card facility, and other banking related services.
American Express also takes advantage of the huge skilled labour market and human resources in India. The company has set up a significant back office operation in the country for its global business.
The American Express Pvt Ltd handles financial and accounting processes of its global operations. And American Express Global Service Center handles support and customer care for their cards, travel services and financial services it provides worldwide.
Solved Example for You
Q: Where is the headquarters of Deutsche Bank?
- Munich
- London
- Frankfurt
- None of the above
Ans: The correct answer is C. The headquarter of the bank is Frankfurt Germany but operates worldwide.
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