Deutsche Bank Buys 8% Of Eurogiro

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FRANKFURT (Dow Jones)--Deutsche Bank AG (DB) Wednesday said it is buying an 8% stake in Eurogiro, thereby strengthening its ties with the company, a global cross-border payments network and community.

MAIN FACTS:

-Eurogiro is the second largest network for cross-border payments with a focus on connecting the world's postal organizations, post banks, banks and other financial institutions.

-Deutsche Bank has been engaged with Eurogiro for more than 10 years and has established numerous long-term relationships with the Eurogiro community.

-Deutsche Bank is an acting board member of Eurogiro and also provides Eurogiro members with US settlement services.

-This offering is being expanded to include multi-currency settlement services.

-Eurogiro provides Deutsche Bank with access to its global network of postal banks and postal organizations with more than 2 billion customers worldwide. Deutsche Bank will combine its market position in payments and cash management with Eurogiro's retail distribution power through the global postal network, to the benefit of Financial Institution clients.

-The transaction reinforces Deutsche Bank's commitment to the Eurogiro community and also to combining the Bank's existing offering with the reach of the Eurogiro network.

-Eurogiro will gain access to knowledge and support from a transaction bank while also ensuring financial flexibility to keep up with developments in the payments market.

-The transaction supports Deutsche Bank's Global Remittance initiative, said Paul Camp, Deutsche Bank's head of cash management Financial Institutions.

"Clients will benefit from our existing product capabilities enhanced with the Eurogiro reach and functionality such as SMS advising," Camp said.

"With minimal investment, our global clients can earn additional revenues as well as attract and retain customers with a new and improved remittance offering."

-Armin Brun, chairman of Eurogiro and deputy head of Swiss Post PostFinance, said he welcomes "Deutsche Bank's continued and now significantly increased involvement."