Deutsche Bank’s Indian unit chief executive Gunit Chadha said the additional capital will be used to service and finance the bank’s corporate, institutional and retail clients.
According to the bank, the recent capital infusion will bring the bank’s tier I, which includes a bank’s equity and reserves or core capital in the country to more than Rs.55bn ($1.1bn).
The bank has been infusing capital since 2007, with 2009 being an exception, which excludes all other Deutsche Bank entities operating in India, such as equity broking and investment banking, primary dealership, asset management and shared services, said the bank.
The bank with $3.07 trillion (Rs.153 trillion) of assets said that their banking operation in India has witnessed a compound annual growth rate of 38% over the last five years.
Indian banking watchdog, the Reserve Bank of India (RBI), has approved Deutsche Bank’s plan to open two branches in Ahmedabad and Surat, which will take its network to 17 outlets.
Deutsche Bank’s profit in India increased 41% to INR6.3bn ($126m), helped by rising income from advances, trading and fees during 2010.
