Deutsche Bank, which already has an arts advisory business and one of the largest collections of fine arts of any major bank, is to open its own gallery in Berlin next year.

In the spring, the Frankfurt-listed bank will open the Deutsche Bank KunstHalle in the German capital, described as a future “focal point for Deutsche Bank’s cultural engagement”.

Deutsche Bank has also named Imran Qureshi “Artist of the Year” 2013. A large solo exhibition devoted to the Pakistani artist will be the first event in the Deutsche Bank KunstHalle 2013 programme, it said.

“Deutsche Bank KunstHalle is a statement of our commitment to Berlin. By establishing our own platform, we are building on our successful partnership with the Solomon R Guggenheim Foundation and sustaining our longstanding commitment to contemporary art from all over the world,” said Stefan Krause, Deutsche Bank’s board member taking overall control of its global art activities.

Imran Qureshi is the fourth artist honored by the bank, and follows Wangechi Mutu (Kenya), Yto Barrada (France and Morocco) and Roman Ondák (Slovakia).

Imran Qureshi is described by Deutsche as one of the “most important figures on the Pakistani art scene”. Born in 1972, he lives in Lahore, where he teaches at the National College of Art.