Deutsche Bank has added capital in its India branch operations of INR5,113 crore ($612 million) to fund its growth plans in the country, in one of the largest such moves the German bank has made in the last few years.
This along with retained earnings and other statutory components, increases the regulatory capital of Deutsche Bank AG India branches, to nearly INR30,000 crores, an increase of 33% over 2023 levels.
With India at the forefront of global investment, Deutsche Bank said it is committed to supporting the country’s growth, particularly in areas such as digital transformation, sustainable finance, technology, and infrastructure development, according to a media release from the bank.
Over the last decade, it has tripled its capital base for Deutsche Bank Group in India. In a media release, the bank said that it is committed to growing its business in the country and further strengthen the capital adequacy ratio of Deutsche Bank’s India branches, of which its has 16 after opening its first branch in 1980
In the release, the bank said the capital will be used to support the further expansion of Deutsche Bank India across its businesses. The Munich-headquartered firm's operations in India include corporate banking, investment banking, and private banking, which has been consistently growing over the years.
The capital increase applies only to Deutsche Bank’s local India branches and excludes other entities operating in the country.
India's economy has been growing strongly this year and there have been a significant number of large initial public offerings (IPOs) which have been bolstering the local stockmarkets, including attracting overseas investment into the country.
¬ Haymarket Media Limited. All rights reserved.
