Deutsche Bank to infuse Rs 1,125 crore addl capital in India

New Delhi, Dec 11 (UNI) Deutsche Bank today announced it will increase capital of its Indian branches by Rs 1,125 crore to double the capital funds to Rs 2,411 crore.

The bank's capital in India was Rs 1,286 crore as on March 31, 2006.

A remittance of Rs 500 crore has been effected and the balance of about Rs 625 crore will be brought in the near future. This capital infusion is the second in over two years, the first being a sum of Rs 419 crore in October 2004.

''India is a global priority market for Deutsche Bank and this significant increase in capital, which follows a capital infusion only two years ago, is a clear indicator to the bank's strong growth trajectory in India and its commitment to further development,'' bank Managing Director and Chief Executive Officer (India) Gunit Chadha said.

The raise in capital will facilitate an increase in single borrower limits and risk assets, which will allow the bank to offer greater local balance sheet financing for its corporate, institutional and retail clients, he added.

The capital increase comes at a time of significant growth for Deutsche Bank in India, which intends to invest further in the country.

''Our debt, equity, derivatives, transaction banking and advisory businesses are already at the forefront of the market and we have rapidly growing retail, asset management and private wealth management divisions. This equity infusion not only demonstrates the growth, but also indicates our confidence in India and its potential,'' Mr Chada added.

Deutsche Bank is one of the leading global investment bank with Euro 1,097 billion in assets and 67,474 employees in 73 countries.

In Asia Pacific, Deutsche Bank has over 45 offices in 17 financial markets with more than 9,600 staff.

UNI CS PKS KP1739