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Published on July 24, 2007

"This significant increase clearly demonstrates the potential we see in the Thai market and we will use the funds to build our already highly successful local business," Deutsche Bank Asia Pacific CEO Colin Grassie said in a press release.

"We see Thailand as an important growth market for us in the Asia-Pacific region, where our business has been posting record revenues."

"The new capital is to support the expansion of our global markets business, particularly the growth in FX [foreign exchange] and derivatives volumes, as well as supporting the growth of our private wealth management and transaction-banking businesses. The increase is a strong indication of our commitment to Thailand and the health of our business here," said Rags Raghavan, Deutsche Bank's chief country officer for Thailand.

The Thai branch of Deutsche Bank was set up in 1978 and employs more than 140 people.