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Company : Deutsche Bank  
Monday, November 22, 2004 3:09PM IST (9:39AM GMT)
Deutsche Bank Celebrates 10th Anniversary as Custody Services Provider in India
Mumbai, Maharashtra, India

Deutsche Bank announced that it celebrates its 10th anniversary in the domestic custody and securities clearing business in India. Deutsche Bank had extended its proprietary custody network to India in 1994, establishing custody operations in Mumbai.

Domestic Custody Services (DCS), part of Deutsche Bank's Trust & Securities Services business, offers the complete range of custody and depository services to domestic and cross border investors. In 1999, Deutsche Bank pioneered offering fund accounting services to domestic Mutual Funds and later to Portfolio Managers and Insurance companies as well.

Mr. Dinkar Jetley, Global Head of Trust & Securities Services, commented saying, "Anniversaries such as this one are testimony to the fact that we are committed to the Indian market, committed to lead in our areas of expertise, and committed to meeting ever evolving business needs. Deutsche Bank is very proud to have become a significant custody services provider in India over the past decade and we will continue to deliver our global strengths through our local expertise".

"Domestic Custody Services has a clear growth strategy in this market. We are dedicated to building a new generation of Custody and Investor Services products in India to meet the new and growing demands from Institutional Investors", said Mr. Roger Harrold, Global Head of Domestic Custody Services.

Mr. Gunit Chadha, Managing Director and Chief Executive Officer for India added, "I am delighted to be part of such an important milestone in Deutsche Bank India's chronicles of achievements. It has and will be a constant endeavour of ours to partner with the Indian market for longer innings and greater successes. These milestones are what make us proud to be present in the Indian business environment and to ensure exceptional delivery to our demanding clients."

With a unique combination of local expertise backed by the resources of a leading global bank, Deutsche Bank has developed a reputation as a strong player in the market. The domestic custody business is a key element in Deutsche Bank's overall portfolio of services for financial institutions.

To commemorate this anniversary, DCS India hosted an exclusive music recital by ghazal maestro, Pankaj Udhas, for select clients on Tuesday November 16, 2004. Deutsche Bank senior members from Europe, USA and Asia were present for the function.

About Deutsche Bank

With roughly Euro 845 billion in assets and approximately 65,400 employees, Deutsche Bank offers unparalleled financial services in 74 countries throughout the world. Deutsche Bank competes to be the leading global provider of financial solutions for demanding clients creating exceptional value for its shareholders and people.

Deutsche Bank ranks among the global leaders in corporate banking and securities, transaction banking, asset management, and private wealth management, and has a significant private & business banking franchise in Germany and other selected countries in Continental Europe.

In India, Deutsche Bank operates with a staff strength of over 500 people through its five full-fledged branches in Mumbai, Delhi, Bangalore, Chennai and Kolkata.

With a strong presence in India, the Bank is represented by the businesses of Global Markets (fixed income and equities), Global Banking (which comprises corporate finance, relationship management and transaction banking (trade finance, cash management, domestic custody and trust services)), Asset Management, and Private Wealth Management.

Over the past three years, Deutsche Bank India has seen a consistent and steady growth in profits. Post tax profits have shown a rise from Euro 22 million during the financial year 2001-2002 to Euro 31 million in 2002-2003 and Euro 49 million in the financial year 2003-2004. This consistent growth reiterates the Bank's focus to the business areas in India.


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