Deutsche injects Rs 419 cr capital into local operations

Deutsche Bank yesterday injected Rs 419 crore of capital into its Indian operations to fund growth. The Tier 1 capital infusion has increased the German bank's total capital funds (Tier I and Tier II) to Rs 1,251 crore from Rs 832 crore.

The capital increase has raise the Tier I capital adequacy ratio of Deutsche Bank India to about 16 per cent and total capital ratio (Tier I and Tier II) to about 21 per cent.

The capital injection will facilitate increase in single borrower limits and also indicates the bank's commitment to India growth strategy, said Gunit Chadha, Managing Director & CEO of Deutsche Bank India.

Deutsche Bank recently received FIPB approval to set up a wholly owned financial holding company with $50 million capital. The holding company will consolidate several of Deutsche Bank's local operating subsidiaries.

Deutsche Bank operates in India with a staff strength of over 500 people through its five branches in Mumbai, Delhi, Bangalore, Chennai and Kolkata.