Deutsche Bank India branches report 48% jump in net profit in FY21

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German lender Deutsche Bank AG's branches in India have reported a 48 per cent jump in FY21 net profit at Rs 1,527 crore, aided by rising revenues and also cost controls.

The bank had reported a net profit of Rs 1,031 crore in the year-ago period.

The FY21 net revenues came at Rs 5,537 crore, which were up 23 per cent over FY20's Rs 4,510 crore driven by consistent performance across all businesses in India, it said in a statement.

Its chief executive for India Kaushik Shaparia termed FY21 as a hugely challenging one by any measure but added that staying close to clients and supporting them with their liquidity and risk requirements helped the bank's performance.

Despite the impact of COVID, our asset quality continues to be strong with a net non-performing assets ratio of 0.86 per cent as against 1.31 per cent in the previous year, he added.

In FY21, Deutsche Bank increased the capital deployed in its India branches by Rs 3,326 crore to support growth across all its business lines, taking the total capital deployed to Rs 19,345 crore, and Shaparia said the higher buffers positions it strongly for FY22.

The bank's capital adequacy ratio as of March 2021 was at 17.28 per cent, an increase over the March 2020 level of 14.93 per cent, the statement said.

The total assets during the year increased 7 per cent to Rs 1,29,430 crore from Rs 1,21,244 crore in FY20, it said, adding that advances in FY21 were up 3 per cent at Rs 52,438 crore.

The total deposits in FY21 were up 11 per cent at Rs 66,224 crore as against Rs 59,910 crore in FY20.

The cost to income ratio improved to 42 per cent from 44 per cent in FY20, it said, adding the profit per employee increased 44 per cent to Rs 87.69 crore from Rs 60.72 crore.