In a bid to fund its high growth in the country, German major, Deutsche Bank, on Wednesday, said it has increased the capital base for group operations by Rs 2,155 crore. The capital infusion will take Deutsche Bank group?s total capital in India to over Rs 5,700 crore, making it among the highest capitalised foreign banks in the country.
The fresh funding includes an infusion of about Rs 1,470 crore in Tier-I capital for Indian branches and Rs 685 crore towards equity of the newly formed non-banking finance compan. This infusion follows fresh capital inflow of Rs 1,125 crore through December 2006-April 2007.
Gunit Chadha, chief executive officer, Deutsche Bank, India said, ?India is one of the fastest growing markets for Deutsche Bank and its significance and further potential is underscored by this capital infusion, the second in only several months.?
With over 5800 employees in India, the bank operates nine branches and will open more branches in Pune, Salem, and Vellore. India is amongst the largest franchises of Deutsche Bank?s presence in 17 markets in Asia-Pacific.
Deutsche Bank has, since 2003, started on-shore investment banking, institutional equities broking, asset and private wealth management (with over Rs 28,000 crore of investible funds, including assets under advisory), retail banking and credit cards (with over 4,70,000 clients).