Commerzbank has rolled out renminbi (RMB) accounts for corporate clients in Germany, TheAsset reports. The new offering will allow the banks customers to perform commercial transactions in RMB when making payments directly to China from Germany and accepting payments from China.
The firm offers a range of documentary foreign transactions in RMB,includingopening and settlement of letters of credit, the settlement of collection and the issuance of bank guarantees. The bank already provides renminbi account services through its branches in Shanghai, Beijing and Hong Kong.
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