Deutsche Bank invests Rs 5,113 crore to expand India operations

New Delhi: German lender Deutsche Bank has announced an investment of Rs 5,113 crore to strengthen its operations in India, marking the largest capital allocation to the country in recent years. This investment will support the bank’s growth across corporate banking, investment banking, and private banking sectors.

Having operated in India for 45 years, Deutsche Bank reported a balance sheet size of Rs 1.45 lakh crore as of March 31, 2024. The recent capital infusion represents a 33% increase over the previous year, raising the bank's regulatory capital in India to nearly Rs 30,000 crore—an amount that has tripled over the past decade. The bank sees India as a vital growth market, especially with the country’s favourable position amid global trends like supply chain shifts and digitization.

CEO for Asia Pacific, Alexander von zur Muehlen, highlighted India’s potential, noting the bank’s strategic focus on supporting the country’s digital transformation, sustainable finance, and infrastructure development. Kaushik Shaparia, the country CEO, further emphasized that the capital infusion reflects Deutsche Bank's confidence in India’s business potential.

This capital is allocated specifically for Deutsche Bank’s India branches and does not include other entities operating in the country. In previous years, the bank had injected Rs 2,700 crore in 2020 and Rs 3,800 crore in 2019 into its Indian operations.

Deutsche Bank reported a net profit of Rs 1,977 crore for the fiscal year 2023-24, a 35% increase from the previous year. With 17 branches in India, Deutsche Bank remains one of the largest foreign banks in the country, reaffirming its commitment to expanding services and supporting India’s economic growth.

With IANS inputs