Deutsche Bank India PAT up 11 pc at Rs 430 crore

Indian arm of Deutsche Bank has posted a Profit After Tax of Rs 430 crore for the 2009 fiscal.

Germany-based Deutsche Bank said on Tuesday that its Indian arm has posted a Profit After Tax of Rs 430 crore for the 2009 fiscal, up 11 per cent in the period under review from a year ago.

Last year, the company had recorded a PAT of Rs 386 crore. The bank’s profit before tax stood at Rs 909-crore for the period, up 14 per cent from the previous year’s Rs 795 crore, a release stated.

Total income rose 18 per cent to Rs 2,901 crore in FY 09 against Rs 2,463 crore in the year-ago period, the release said.

During FY 09, Deutsche Bank infused Rs 324 crore of fresh Tier-1 capital, taking its aggregate capital in its Indian branches to over Rs 4,300 crore, making it one of the highly capitalised foreign banks in India.

The bank’s capital adequacy in India as at end-March 2009 stood at 15.25 per cent against 13.58 per cent at end-March 2008.

Its net Non Performing Asset continued to be negligible at 0.88 per cent, while net interest margin increased to 5.3 per cent as against 3.8 per cent in the year-ago period, the release said.

The results cover only the performance of the Indian branches of Deutsche Bank and do not include results of other group entities.

Deutsche Bank India’s Managing Director & Chief Executive Officer Gunit Chadha said, “Despite the challenging environment facing the industry last year, we succeeded in consolidating and profitably growing our operations in India.”

The bank increased its retail footprint by opening three new branches taking the overall total to 13, with a client base in retail banking and credit cards at over 5,20,000, the release said.

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First published on: 30-06-2009 at 18:39 IST