Log In

 
Company : Deutsche Bank  
Thursday, October 28, 2004 2:39PM IST (9:09AM GMT)
 
Deutsche Bank Infuses Rs. 419 Crores of New Tier I Capital to Fund Growth in India
Mumbai, Maharashtra, India

Deutsche Bank today announced that it had increased Tier I capital for its Indian branches by INR 419 crores (USD 91 Mio). This capital infusion will increase the capital funds (Tier I & Tier II) of Deutsche Bank India from INR 832 crores (as on March 31, 2004) to INR 1,251 crores.

In announcing the increase which was effected today, Gunit Chadha, Managing Director & Chief Executive Officer of Deutsche Bank India said, "India is a global priority market for Deutsche Bank and this increase in Tier I capital is a clear indication of our commitment to our growth strategy. This capital will facilitate an increase in single borrower limits and will allow us to offer greater product and service opportunities to our demanding clients."

The capital increase will raise the Tier I capital adequacy ratio of Deutsche Bank India to about 16% and total capital ratio (Tier I + Tier II) to about 21%.

Deutsche Bank also recently received a FIPB approval to set up a 100% Deutsche Bank owned financial holding company with USD 50 Mio capital, which is over and above the INR 1,251 crores of capital funds in the Bank aforementioned. This entity will consolidate several of Deutsche Bank's local operating subsidiaries.

The capital increase comes at a time of significant growth. In June 2004 Deutsche Bank announced a 60% increase in profits after tax to Rs. 272.65 crores from its India branches for the year ended March 2004. In addition to its market-leading businesses in Global Banking and Global Markets, Deutsche Bank launched several new businesses in 2003-04. In early 2003, Deutsche Asset Management started its onshore mutual fund business and currently has an AUM of INR 2,200 crores. In August 2003, Deutsche Equities commenced Equity Sales & Broking business in India. This business is now delivering high quality research, brokerage and execution facilities for local and FII clients. In February 2004, the Bank expanded its onshore Corporate Finance presence in India with notable successes.

"Deutsche Bank is fully committed to further investing in the Indian market. This equity infusion is a strong show of confidence in India Inc. and its banking system" says Chadha.

Deutsche Bank group in India

Deutsche Bank operates in India 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.

To view the photograph, please copy/paste the URL given below in your browser window:

http://cms.businesswireindia.com/Uploads/news-multimedia/images/Gunit_Chadha_MD_and_CEO_Deutsche_Bank_India.jpg

 
For News Release background on Deutsche Bank click here
 
 
 
Submit your press release
More News from Deutsche Bank

02/05/2005 11:30AM

Deutsche Bank - Now the Largest Foreign Exchange House in Asia and Globally

Deutsche Bank has become the largest foreign exchange trading bank in Asia, and globally, according to a major global market share survey undertaken by respected capital markets magazine, Euromoney. The Euromoney's ...

18/01/2005 3:00PM

Gunit Chadha to Join Deutsche Bank Asia Pacific Executive Committee

Deutsche Bank today announced that Gunit Chadha, Managing Director & Chief Executive Officer, India, will join Deutsche Bank's Asia Pacific Executive Committee effective January 1, 2005. In announcing the ...

01/12/2004 12:30PM

Castrol India Limited Streamlines Its Treasury Management with Deutsche Bank's Innovative Cash Management Solution

Deutsche Bank and Castrol India Limited have developed an innovative cash management solution, which has enabled Castrol to streamline its treasury management. According to the agreement, Castrol will use Deutsche ...

Similar News

16/10/2018 10:47AM

Bank of America Reports Third-Quarter 2018 Financial Results

Bank of America reported its third-quarter 2018 financial results. The news release, supplemental filing and investor presentation can be accessed in the following ways:   This press release features ...

No Image

12/10/2018 7:12PM

Axis Bank Focusses on Contactless Payment Solutions and Launches Axis Tap and Pay

Axis Bank, the country’s third largest private sector bank, today introduced ‘Axis Tap & Pay’, a mobile application that will allow its customers to make transactions by just tapping their NFC-enabled android mobile ...