Deutsche Indian arm gets Rs 325 cr

Deutsche Bank On Thursday announced that it has infused Rs 325 crore ($65 million) into its Indian subsidiary and increased its tier-I capital to fund the bank’s growth in the country.

The current capital infusion will take the Deutsche Bank group’s total capital in India to over Rs 6,000 crore, making it among the most highly-capitalised foreign banks in the country. The increase is the fourth in the last three years, with two tranches totalling Rs 2,095 crore in 2007-08 and Rs 500 crore in 2006-07, a company statement said.

Colin Grassie, CEO, Deutsche Bank, Asia-Pacific (ex-Japan), said: “This capital increase is a very clear statement of our commitment and the growth of our business in India. Times of market stress create opportunities for banks such as Deutsche Bank, which are well-capitalised and strongly positioned to assist clients. We have experienced significant increases in market share in many of our businesses in India.”