Deutsche Bank infuses Rs 2,700 cr into India operations for expansion
This is the second time in less than two years that the bank has infused money into local operations consisting of 17 branches, after the Rs 3,800 crore investment in early 2019
BS Reporter | Mumbai Last Updated at August 12, 2020 23:16 IST
German lender Deutsche Bank has infused Rs 2,700 crore in its India operations to fund its growth plan in the country, taking the total capital deployed to Rs 18,200 crore.
“This capital will be used to support 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,” Deutsche Bank said in a statement. The capital pertains to only the bank’s India branches and excludes all other group entities operating in the country, it said.
Its chief country officer Kaushik Shaparia said the incremental capital injection should be seen as a strong validation of the lender’s confidence in the business model and potential in India. It is also “demonstrative of our intent to further deepen our presence here”, he said, adding that the recent months have thrown up opportunities to work ever more closely with clients and support them with services and advice in steering through the tough environment. With this infusion, the capital adequacy ratio of Deutsche Bank India will improve further from its March level of 14.93 per cent.
With inputs from PTI
First Published: Wed, August 12 2020. 15:24 IST