Deutsche Bank to raise capital by Rs 1125 Cr to fund India growth

Mumbai, Dec 11 (UNI) Deutsche Bank (DB) today announced that it will increase capital for its Indian branches by Rs 1125 crore (USD 253 million).

This capital infusion will almost double the capital funds of the Deutsche Bank India from Rs 1286 crore (as on March 31 this year) to Rs 2411 crore, said a bank's release here.

A remittance of Rs 500 crore has been effected and the branches 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 the DB India said, ''This capital will facilitate an increase in single borrower limits and risk assets, which will allow us to offer greater local balancesheet financing for our corporate, institutional and retail clients''.

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