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Tuesday, January 18, 2005 3:00PM IST (9:30AM GMT)
Gunit Chadha to Join Deutsche Bank Asia Pacific Executive Committee
Mumbai, Maharashtra, India

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 appointment Kenneth C Borda, Deutsche Bank Asia Pacific (ex Japan) Chief Executive said, "India is a global priority market for Deutsche Bank and Gunit Chadha has spearheaded our business growth in this important market since he joined the Bank in August 2002. His appointment to the Asia Pacific Executive Committee highlights the important role of India in the formulation and execution of Deutsche Bank's overall regional strategy."

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.

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. Pre-tax profits have shown a rise from INR 260.28 crores (Euro 48.70 Mio) during the financial year 2001-2002 to INR 323.58 crores (Euro 60.54 Mio) in 2002-2003 and INR 494.71 crores (Euro 92.56 Mio) in the financial year 2003-2004. This strong consistent growth reiterates the Bank's focus to the businesses in India.

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