Deutsche Bank is looking to grow its retail business in India, and plans to roll out a new digital platform for processing loans.
“We are developing a digital platform for the processing of loans. One part of it should be up and running by June this year, while the process will be completely online by the end of the year,” said Amit Bhatia, Managing Director, Head – Private and Commercial Clients, India, Deutsche Bank. The facility would be available for existing customers in both the retail and MSME space and would include online verification and processing of loans. It already has an internet banking and mobile banking platform.
The lender, which was reported to have been looking to sell off its Indian retail arm, is, however, still keen on working in the country, but does not plan to expand beyond its current locations.
“The five-year plan is to double business,” said Bhatia, adding that it has been growing at a compounded rate of about 20 per cent in the last five years, and is looking at a similar 22 per cent CAGR over the next five years.
At present, its retail presence in the country consists of 17 branches in 16 cities, and is also not keen to re-enter the card space again. The bank had sold its credit card business in India to IndusInd Bank in 2011.
The lender has about 1,50,000 customers in the retail banking segment, and plans to acquire about 15,000 to 18,000 customers annually.
As of March 31, 2018, the total balance sheet size of Deutsche Bank India was ₹78,424 crore, while the retail banking (segment asset) was ₹21,370 crore.