Deutsche Bank has signed a five-year lead sponsorship deal with ART HK, an art festival in Hong Kong, in a move that signifies the private bank's strong Asian expansion drive.

The fair, scheduled for May 27 to 30, 2010, will showcase international modern and contemporary art in Asia from over 110 participating galleries from 24 countries. It is expected to attract a significant high net worth audience from Hong Kong, Mainland China, Asia Pacific, and the rest of the world.

"Deutsche Bank has, for the last 30 years, been cultivating appreciation for art and promoting it within the Bank's work space. Deutsche Bank owns one of the largest corporate collections in the world, comprising over 56,000 works," said Terence Ng, a spokesperson for the bank, in an emailed reply to WealthBriefingAsia.

Steadily acquired since the end of 1979 and displayed across over 1,700 branches and offices worldwide under the motto 'Art Works,' the programme represents a pioneering alternative solution to the problem of integrating art into the reality of everyday life, Mr Ng added.

In a separate press release, Michael West, another spokesman for the bank, said that the success of ART HK in the previous two years only shows that there is a high demand for a world-class art fair in the Asian region. Specific details of the agreement have yet to be disclosed.

Deutsche Bank said in its website that it regards corporate social responsibility as an "investment in society and in its own future". Its core competencies are focused on sustainability, corporate volunteering, social investments, art, and education.