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Monday, June 13, 2011

Deutsche Bank India' net profit up 41%

New Delhi: Foreign lender Deutsche Bank today said its Indian banking operation has recorded a 41 per cent rise in net profit at Rs 630 crore for the fiscal ended March 2011.

The bank had a net profit of Rs 446 crore in 2009-10, Deutsche Bank said in a statement.

Total income of Indian operation of Germany-based bank increased by 19 per cent to Rs 2,861 crore from Rs 2,396 crore in the year ended March 2010.

At the same time, profit before tax grew by 43 per cent to Rs 1,190 crore as against Rs 833 crore in the previous fiscal.

During the year, the bank increased its capital base in the country by over Rs 330 crore, the fourth infusion since 2007, Deutsche Bank India Chief Executive Officer Gunit Chadha said in a statement.

With this Deutsche Bank's capital base in India rose to over Rs 5,500 crore thus making it one of the highest capitalised foreign banks in the country, he said.

"Our corporate and investment banking businesses have achieved market-leading positions in several verticals like equity capital markets, debt capital markets, customer foreign exchange and transaction banking," he said.

The bank's Capital Adequacy Ratio stood at 15 per cent while Gross Non Performing Assets (NPA) as a proportion of Gross Advances stood at 1.24 per cent at the end of March 2011.

However, it said, the results cover the performance of the Indian branches of Deutsche Bank and do not include results of other Deutsche Bank Group entities in India covering businesses relating to equity broking, asset management, primary dealership, corporate finance, outsourcing or the NBFC.

Source: Financial Express


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