Deutsche Bank India gets Rs 1,054 cr capital infusion
German banking giant Deutsche Bank on Thursday said that it has infused an additional capital of Rs 1,054 crore into its India operations to fund its growth plans.
Mumbai: German banking giant Deutsche Bank on Thursday said that it has infused an additional capital of Rs 1,054 crore into its India operations to fund its growth plans.
The capital infusion, which takes the total capital base to Rs 7,000 crore, is the second infusion in 2012 and the sixth since 2007, the bank said in a statement.
"This capital infusion will enable us to further deepen our client franchise here. In particular, we will further expand our transaction banking and retail banking," Deutsche Bank India chief executive Ravneet Gill said.
The infusion will take its total capital adequacy to 16 percent, the statement added.
The Frankfurt-headquartered Deutsche Bank is co-headed by India-born Anshu Jain.
The infusion comes even as there is a debate about the regulatory landscape for foreign lenders over issues like conforming to higher priority sector lending requirements and the structure of operations--as a subsidiary or simple branch operations.
In FY12, the India post-tax profit of the bank stood at Rs 823 crore and has grown at a compounded annual rate of 30 percent over the last five years, it said.
The bank started operations in India in 1980 and currently has 16 branches including at Aurangabad, Kolhapur, Pune, Salem, Vellore, Moradabad and Ludhiana, apart from larger cities, according to its website.
Gill stressed that the infusion reflects the importance accorded to India and its significance as a market for the bank's growth plans.