Money & Banking

Deutsche Bank announces fresh capital raise of ₹2,700 crore in India branch operations

Our Bureau Mumbai | Updated on August 12, 2020

Deutsche Bank on Wednesday announced a fresh capital increase of ₹2,700 crore into its India branch operations to fund its growth plans in the country.

“With this, the total capital deployed by Deutsche Bank in its India branches has now increased to ₹18,200 crore,” it said in a statement.

This will also further strengthen the capital adequacy ratio of the India branches, which stood at 14.93 per cent as on March 31, 2020.

“This capital will be used to support the further expansion of Deutsche Bank India across all of its businesses – corporate banking, investment banking, and international private banking – which have been consistently growing over the years,” it said.

The announcement comes at a time when a large number of banks have raised capital amidst the economic uncertainty and concerns about loan defaults in the Covid-led crisis.

Kaushik Shaparia, Chief Country Officer, Deutsche Bank India, however, said the recent months have thrown up opportunities for the lender to work with clients in steering through the current operating environment.

“The incremental capital being injected into our India franchise is a strong validation of our confidence in our business model and potential in this country, and is demonstrative of our intent to further deepen our presence here,” he said.

This is the second time in less than two years that bank has deployed capital in its India branch operations. In early 2019, it had infused ₹3,800 crore in the India branch operations.

Published on August 12, 2020

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