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Our Bureau

Mumbai , June 15

DEUTSCHE Bank has posted a 60 per cent jump in net profit for the year ended March 2004 to Rs 272.6 crore up from Rs 170.6 crore in the previous year.

Total income of the bank increased 31 per cent to Rs 905.6 crore (Rs 692.8 crore) mostly on account of treasury gains, transaction banks and investment banking activities. Total assets stood at Rs 8,597 crore and total deposits were at Rs 2,533 crore.

The bank, which concentrates on treasury activities, transaction banking, corporate banking and investment banking activities in India, has no plans to enter the retail race in the immediate future, according to Mr Gunit Chadha, CEO, Deutsche Bank India. It is mostly a wholesale bank in most of the markets that it is present in.

India is among the top three markets in Asia-Pacific in terms of profit and is a priority market with the senior management. "We are keen on organic growth to scale up the volumes in each of the businesses we are present in,'' said Mr Chadha.

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