Deutsche Bank increases capital in India by Rs 2125 cr

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Kolkata, Dec 19(UNI) Deutsche Bank today announced that it has increased capital for group operations in India by Rs 2155 crore (USD 544 Million).

This includes an infusion of about Rs 1470 crore tier-I capital for Deutsche Bank's Indian branches and Rs 685 crore towards equity of the newly formed non-banking finance company for which Deutsche Bank group received approval recently.

Company sources said the current infusion would take Deutsche Bank group's total capital in India to over Rs 5,700 crore, making it among the highest capitalized foreign banks in India.

This infusion follows fresh capital inflow of Rs 1125 crore through December 2006-April 2007.

"India is one of the fastest growing markets for Deutsche Bank and its significance is underscored by this capital infusion," Deutsche Bank Chief Executive Gunit Chadha said.

The fresh capital would allow Deutsche Bank to offer greater local balance sheet financing for the corporate, institutional and retail clients, he said.

UNI

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