Deutsche Bank raises capital base by Rs 455 cr

Deutsche Bank on Tuesday said it had increased its capital base in India by Rs 455 crore to finance its expansion plans here.

The bank’s capital base now stands at Rs 5,500 crore.

This is the fifth time the foreign lender has increased its capital base in India since 2007. The capital base pertains to only the bank’s branches. It excludes other Deutsche Bank entities in India, including equity broking, investment banking, primary dealership, asset management and shared services.

Gunit Chadha, chief executive, Deutsche Bank in India, said, “It (capital increase) underscores India’s significance in Deutsche Bank’s global plans. This increase enables us to further service and finance our corporate, institutional and retail clients in one of the fastest growing markets globally.”

This year, the bank plans to open a branch each in Ahmedabad and Surat. This would expand its network to 17 branches in 16 locations across the country. The bank also plans to add 130,000 sq feet of rented office space.