Deutsche Bank to invest Rs 1125cr in India ops

Deutsche Bank today announced that it will increase capital for its Indian branches by Rs 1125 crore ($253mn). This capital infusion, will almost double the capital funds of Deutsche Bank India from Rs 1286 crore (as on March 31, 2006) to Rs 2,411 crore. A remittance of Rs 500 crore has been effected and the balance of approximately Rs 625 crore will be brought in the near future. This capital infusion is the second in two years, the first being a sum of Rs 419 crore in October 2004.

Gunit Chadha, MD & CEO of Deutsche Bank India, said: "India is a global priority market for Deutsche Bank and this significant increase in capital which follows a capital infusion of only two years ago, is a clear indicator to the bank's strong growth trajectory in India and its commitment to further development. This capital will facilitate an increase in single borrower limits and risk assets, which will allow us to offer greater local balance sheet financing for our corporate, institutional and retail clients."