Financial Daily from THE HINDU group of publications
Friday, Oct 29, 2004
Financial Daily from THE HINDU group of publications Friday, Oct 29, 2004 |
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Money & Banking
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Foreign Banks Deutsche Bank (I) hikes capital by Rs 419 crore Our Bureau
Chennai , Oct. 28 DEUTSCHE Bank (India) announced the infusion of Rs 419 crore ($91 million) to its existing capital base of Rs 832 crore. Asked if the money would be used to expand its presence in the retail segment, a bank spokesperson said: "There are no such plans at the moment". Deutsche Bank currently operates through five branches in Mumbai, Delhi, Bangalore, Chennai and Kolkata. The fresh capital would be used to scale up its existing business - including corporate business, asset management, custodial business and private wealth management, the spokesperson said. Mr Gunit Chadha, Managing Director & Chief Executive Officer of Deutsche Bank India, said, ``This capital will facilitate an increase in single borrower limits.''
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