Deutsche Bank today announced that its India branches posted a Profit Before Tax of Rs.909 crore for the year ended March 2009, an increase of 14 per cent on the previous year’s figure of Rs. 795 crore. Profit After Tax grew to Rs. 430 crore, an increase of 11 per cent as against Rs. 386 crore last year. Total Income increased 18 per cent to Rs. 2,901 crore, up from Rs. 2,463 crore in the year ended March 2008. Total assets of the bank, as at March 2009, stand at Rs.24,954 crore.
Announcing the results, Gunit Chadha, Managing Director & Chief Executive Officer of Deutsche Bank, India said, “Despite the challenging environment facing the industry last year, we succeeded in consolidating and profitably growing our operations in the India. We have built a strong corporate & investment banking cum retail & asset management platform, to scale up our investments and reinforce commitment to the country. We are very well positioned to grow the franchise in sync with the growth of India Inc.”
During the year 2008-09, Deutsche Bank infused Rs.324 crore of fresh Tier-I capital, taking its aggregate capital in its Indian branches to over Rs.4300 crore and thus making it one of the most highly capitalized foreign banks in India. The bank’s Capital Adequacy in India as at end of March 2009 stood at 15.25 per cent as against 13.58 per cent at the end of March 2008.
Inspite of a downturn in the economy last year, the bank’s Net NPAs continued to be negligible at 0.88 per cent, while Net Interest Margin increased to 5.3 %, as against 3.8 %.
The results cover the performance of the Indian branches of DB and do not include results of other Deutsche Bank Group entities covering businesses relating to equity broking, asset management, primary dealership, corporate finance and the NBFC. During the year, Deutsche Bank Group continued to gain significant market share in all its leading businesses - Debt Capital Markets, FX & Derivatives, Equity Capital Markets, M&A, Custodial Services, Asset Management and Private Wealth Management.
Deutsche Bank group was involved in some key marquee transactions in both M&A and ECM. These include: ONGC Videsh Limited’s GBP 1.4 billion acquisition of Imperial Energy PLC; sale of 50% stake in Swan Telecom to Etisalat; SBI’s US $ 4.3 billion rights issue; and India Bull’s US $ 256 million REIT offering in Singapore. This market dominance resulted in a number of prestigious awards for the bank. Deutsche Bank was awarded ‘Best Bank - India’ by The Asset magazine in their annual 2008 country awards; led Asiamoney's Private Banking polls for the third year in running; and was awarded ‘The Best Sub Custodian Bank – India’ by The Asset magazine in 2009 Transaction Banking Awards.
The bank increased its retail foot print by opening 3 new branches taking the overall total to 13, with a client base in retail banking and credit cards at over 520000.
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The Deutsche Bank group in India has over 2300 employees on its rolls in India; which exclude its captive outsourcing units.
About Deutsche Bank
Deutsche Bank is a leading global investment bank with a strong and profitable private clients franchise. A leader in Germany and Europe, the bank is continuously growing in North America, Asia and key emerging markets. With 80,456 employees in 72 countries, Deutsche Bank offers unparalleled financial services throughout the world. The bank competes to be the leading global provider of financial solutions for demanding clients creating exceptional value for its shareholders and people.
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