Deutsche Bank has reported a 93 per cent jump in profit from its Indian branches at Rs 1,406 crore for the financial year 2014-15 .
The bank in news for the resignation of its India-born co-chief executive officer Anshu Jain, had reported a post tax net of Rs 729 crore in the year-ago period.
The profit before tax was up 81 per cent to Rs 2,544 crore, while the net revenue jumped 45 per cent to Rs 3,925 crore, the bank said in a statement.
Attributing the jump to a “strategic focus” on the country, its country chief executive Ravneet Gill said the performance was also possible because of the tight cost to income ratio and keeping asset quality in check as the net non-performing assets were at 0.13 per cent.
The bank has 17 branches in the country and the numbers exclude the performance of other entities in the group like equity broking, asset management, corporate finance, outsourcing or the non-banking finance company (NBFC), it said.
The bank reported a 25 per cent jump in advances driven by both retail and wholesale advances, which is a lot higher than the 10 per cent credit growth for the system, while deposits zoomed by 48 per cent, it said. The operating expenses were up by only 8 per cent to Rs 1,364 crore.
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