Industry

Deutsche Bank infuses ₹2,700 crore fresh funds into Indian unit

A file photo used for representational purpose only.

A file photo used for representational purpose only.   | Photo Credit: AP

Deutsche Bank on Wednesday announced a capital infusion of ₹2,700 crore into its India branch operations to fund its growth plans in the country.

With this, the total capital deployed in India branches has now increased to ₹18,200 crore.

Subsequently, the capital adequacy ratio of the Indian branches, which stood at 14.93% as on March 31, 2020, has strengthened to well above the minimum required, the bank said.

These funds will be used to support the further expansion of Deutsche Bank India across all of its businesses – Corporate Banking, Investment Banking, and International Private Banking – which have been consistently growing over the years. In early 2019, the bank had infused ₹3,800 crore in the India branch operations.

“The incremental capital being injected into our India franchise is a strong validation of our confidence in our business model and potential in this country, and is demonstrative of our intent to further deepen our presence here,” said Mr. Kaushik Shaparia, Chief Country Officer, Deutsche Bank India.

“The recent months have thrown up opportunities for us to work ever more closely with our clients and support them with best-in-class services and advice in steering through the current operating environment,” he added.

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Printable version | Sep 21, 2020 7:31:39 PM | https://www.thehindu.com/business/Industry/deutsche-bank-infuses-2700-crore-fresh-funds-into-indian-unit/article32335178.ece

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