"We've had structural expansion in the last 15 years and there is no reason for us to deviate from that aggressive India policy," Walter told reporters on the fringes of a seminar organised by the Federation of Indian Chambers of Commerce and Industry.

Deutsche Bank, which ranks among the top five foreign banks in India, has retail and corporate operations in the country. The bank, which started its India operations in 1981, has five branches and plans to open its sixth later this month.

Walter said he hoped that which ever Government came to power after the parliamentary elections in September and October would open up the banking sector to foreign players.

"With the kind of population growth India is going through, I think it would be unfeasible to delay the opening up of the banking sector," he said.

Walter said experience of countries like Japan which also took time to open their Financial sector to foreigners should encourage India.

Wolf D Von Bothmer, Deutsche Bank's India head for corporate banking, said he was satisfied with the bank's business and revenue performance in the country.

He said growth had slowed down in calendar 1999 because of political uncertainties but they expected growth to pick up from the second quarter of calendar 2000. He did not give figures.

"We are missing the opportunity, there is an overall slowdown because of change of government and the impending elections," Bothmer said. "The turnaround is not going to take place this year because of elections, new government."

In 1997/98 Deutsche Bank's net profit from India operations grew to Rs 1.17 billion nd operation profit rose to Rs 2.67 billion.