Deutsche Bank on Thursday reported a profit after tax (PAT) of Rs 1,406 crore from its Indian branches in FY15, up 93% from the previous year. The bank’s profit before tax (PBT) stood at Rs 2,544 crore, an increase of 81% over the last year, and its net revenue increased 45% to Rs 3,925 crore in FY15.
Ravneet Gill, CEO-India, Deutsche Bank, said in a statement: “Our strong financial performance underscores the ability of our businesses to harness a dynamic business environment on the back of deeply embedded client relationships, high-quality internal talent and rich product diversity.”
He added that Deutsche Bank’s sustained strategic focus on India played a big role in the performance.
The statement said the results cover the performance of the 17 India branches of Deutsche Bank and do not include results of other Deutsche Bank Group entities in India covering businesses relating to equity broking, asset management, corporate finance, outsourcing or the non-banking finance company (NBFC).
It reported a 25% jump in advances owing to growth coming from both retail and wholesale loans. This growth is higher than the 9.7% credit growth of the banking industry in FY15.
The bank’s deposits grew 48% to R38,634 crore in FY15.
Deutsche Bank’s operating expenses were up 8% at R1,364 crore and the profit per employee surged 88% to over R79 lakh.
The bank said that its overall balance sheet size increased 7% to R61,597 crore and the capital base in the country stood at R9,453 crore as of March 31.
Its capital adequacy ratio stood at 15.62%.