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Our Bureau

Mumbai, Dec 19

Deutsche Bank today said it will infuse an additional Rs 2,155 crore in its Indian operations. This includes Rs 1,470 crore Tier-I capital for the bank’s branches and Rs 685 crore towards equity of the newly formed non-banking finance company for which the Deutsche Bank group received approval recently.

With this infusion, the group’s total capital in India will cross Rs 5,700 crore, making it among the highest capitalised foreign banks here, said a press release from the bank. This infusion is following fresh capital inflows of Rs 1,125 crore through December 2006 and April 2007.

The bank will use the additional funds for lending, both corporate and retail, said an official from the bank.

About the NBFC, the bank has got approvals for doing both retail and corporate business and is working on the business plans, the official said. The bank got the licence for the NBFC only about a couple of months ago, the official added.

Mr Gunit Chadha, Chief Executive Officer of Deutsche Bank India, said, “The fresh capital will allow us to offer greater local balance sheet financing for our corporate, institutional and retail clients.”

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