Deutsche Bank has pumped INR27bn ($360.9m) into its India operations to support its expansion plans.
The German bank will utilise the funds to expand its India unit in various segments including corporate banking, investment banking, as well as international private banking.
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This marks the bank’s second infusion in the India business in less than two years.
The fresh capital takes the total capital injected by the bank in its India business to INR182bn.
Deutsche Bank India chief country officer Kaushik Shaparia said: “The incremental capital being injected into our India franchise is a strong validation of our confidence in our business model and potential in this country, and is demonstrative of our intent to further deepen our presence here.
“The recent months have thrown up opportunities for us to work ever more closely with our clients and support them with best-in-class services and advice in steering through the current operating environment.”
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By GlobalDataThe bank has been operating in India since 1980. At the end of March 2020, its capital adequacy ratio was 14.93%. In India, the bank has a total of 17 branches.
In Q2 2020, Deutsche Bank returned to profit. The group posted a pre-tax profit of €158m ($185m) in the three-month-period ending 30 June 2020, versus a loss of €946m a year ago.
Notably, the bank recently announced plans to create a new international private bank by integrating its wealth management and its international private and commercial business units.
