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Thursday, December 13, 2012

Deutsche Bank India gets Rs 1,054 cr more capital to fund growth

Foreign lender Deutsche Bank today announced that it has increased its capital base in India by Rs 1,054 crore (about $194 million) to fund the bank’s growth plans.

With this capital infusion, the bank’s total capital base in India stands at nearly Rs 7,000 crore thereby strengthening its capital adequacy ratio to around 16 per cent. The increase is the sixth since 2007 and second in 2012, the bank said in a statement.

The capital base pertains only to India branches and excludes all other Deutsche Bank entities operating in India, the bank said.

The Germany-based bank’s India net profit-after-tax stood at Rs 823 crore during 2011-12 fiscal with a compounded average growth rate of 30 per cent over the last five years.

Ravneet Gill, CEO, Deutsche Bank India, said: “The capital increases reflect the importance of India franchise to Deutsche Bank’s global growth plans. India is one of the most significant markets for Deutsche Bank globally with market leading transaction banking & investment banking businesses and a rapidly growing asset and wealth management and retail footprint. This capital infusion will enable us to further deepen our client franchise in India. In particular, we will further expand our transaction banking and retail banking businesses.”


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