DVB Bank SE

EANS-News: DVB Bank´s CEO expects Chinese banks to play a more important role in the global transport finance market

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Company Information

Frankfurt am Main (euro adhoc) - In a press meeting held today in Beijing, DVB Bank´s CEO, Wolfgang Driese, showed great optimism on the future role of China - both in the global economy, and in global transport financing.

Mr Driese said: "The recent economic crisis has already proven that China is the new emerging economic superpower. China´s economic stimulus package has prevented the world from sliding into a long-term recession. A large part of the economic stimulus package was dedicated to the transport sector, and all the investments in this sector will lay the ground for further expansion of the Chinese economy. The transport sector has always been a key for economic success, and during the next years a growing number of Chinese transport companies will develop very quickly into global players. With the growth of the shipbuilding, aerospace and rail equipment industries in China, there will be an increasing need for transport finance solutions. In the wake of the worldwide financial markets crisis, however, numerous banks withdrew from transport financing, or cut back their exposure. Moreover, a severe loss of confidence in the interbank market brought syndications to a halt. With the global economy now returning to its previous growth path, we need a revitalisation of the global syndication market. Here, I see good business opportunities for Chinese banks, since a number of Western Hemisphere banks that were active before the crisis may well not return. I am convinced that Chinese banks will gain more importance in the global syndication market".

DVB has already been a provider of transport finance solutions to Chinese companies for many years. For example, in 2002 DVB provided a commercial debt facility for Hainan Airlines to finance Hainan´s first in a series of B767-300ER aircraft. This facility was groundbreaking as it was the first time that a non-state-owned Chinese airline had managed to secure non-guaranteed debt in the international air finance community. In 2006, DVB structured a landmark USD869 million sale and managed leaseback transaction for a 400,000 container box portfolio that was owned and managed by Florens Container Inc., a subsidiary of Cosco Pacific. Furthermore, very recently DVB financed an aircraft portfolio comprising of a mix of new generation narrow-body aircraft from both Boeing and Airbus for ICBC Financial Leasing (ICBCFL), a wholly-owned subsidiary of Industrial and Commercial Bank of China (ICBC). This five-year term loan facility is the first financing by a third party international bank of any of ICBC´s leasing portfolio, and represents a milestone in furthering the co-operation between DVB and ICBCFL. Other important deals have been structured for Dragon Aviation Leasing, North China Shipping Holdings, and Yangtze River Express, to name just a few.

Note to Editors: DVB Bank SE, headquartered in Frankfurt/Main, Germany, is the leading specialist in the international Transport Finance business. The Bank offers integrated financing solutions and advisory services in respect of Shipping Finance, Aviation Finance, and Land Transport Finance. The Bank operates out of offices in Frankfurt/Main, Hamburg, London, Cardiff, Rotterdam, Bergen/Oslo, Piraeus, Zurich, Singapore, Tokyo, New York and Curaçao. DVB Bank SE is listed at the Frankfurt Stock Exchange (ISIN: DE0008045501).

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Further inquiry note: Prof. Dr. Borislav Bjelicic DVB Bank SE, Group Corporate Communications Platz der Republik 6, 60325 Frankfurt/Main, Germany Phone +49 69 9750 4390, Fax (0 69) 9750 4333 borislav.bjelicic@dvbbank.com, www.dvbbank.com

Branche: Banking
ISIN:      DE0008045501
WKN:        804550
Börsen:  Stuttgart / free trade
              Düsseldorf / free trade
              Frankfurt / regulated dealing/general standard



Weitere Meldungen: DVB Bank SE

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