Deutsche Bank today reported 73 per cent increase in its net profit in 2006-07 on a sharp jump in interest income, reflecting enhanced fund-based exposure to corporates as well as individuals. | |
| The net profit of its Indian operations jumped to Rs 218.22 crore in 2006-07 from Rs 125.92 crore a year earlier. |
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| Total income increased 40 per cent to Rs 1,625.36 crore in 2006-07, up from Rs 1,158.97 crore a year earlier as total assets expanded by 47 per cent to Rs 17,715 crore from Rs 12,050 crore a year earlier. |
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| Gunit Chadha, managing director & chief executive officer of Deutsche Bank India, said, "Our financial results clearly demonstrate a strong growth momentum in businesses." |
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| Total advances increased 92 per cent to Rs 4,945 crore from Rs 2,581 crore, while total investments grew 90 per cent to Rs 6,203 crore against Rs 3,260 crore a year earlier, as it increased fund-based commitment and support to companies as the country's economy expanded at over 9 per cent. Its gross non-performing assets (NPAs) at 0.23 per cent were almost fully provided for with net NPAs at just 0.01 per cent. |
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