Deutsche Bank Trust and Securities Services (TSS) bolsters strategic growth with landmark Austrian ABS deal

The Deutsche Bank TSS team has been appointed on FACT S.A. Compartment 2026-1, a €540m asset-backed security (ABS). The securitisation is backed by a pool of receivables originated by Porsche Bank Österreich, an international financial services company and a subsidiary of Volkswagen AG.

The underlying portfolio comprises over 22,000 loans and leases extended to Austrian private and commercial customers. Notably, 59% of these contracts relate to new vehicle financing, 41% for used vehicles and 44% are for hybrid or electric engine vehicles.

Porsche Bank Österreich is a new ABS originator to the TSS platform and this transaction represents TSS’s inaugural ABS deal in Austria. The bank provided a comprehensive solution for the transaction, acting across key roles including account bank, paying agent and cash administrator.

This underlines Deutsche Bank’s focused growth initiatives in strategic markets and, reflects Craig Smith, Global Head of TSS Sales, “reinforces our commitment to expanding our Global Hausbank relationships with leading corporate clients”.

“We are pleased to welcome Porsche Bank Österreich to the TSS platform and to mark our first ABS transaction in Austria,” continued Smith. “This landmark deal demonstrates the strength of our integrated service offering in strategic European markets.”