Deutsche Bank branches record Rs 218 cr PAT
Mumbai, June 21: Deutsche Bank today announced that its India branches posted a Profit After Tax of Rs 218.22 crore for the year ended March 2007, an increase of 73 per cent against the previous year's Profit After Tax of Rs 125.92 crore.
Total Income increased 40 per cent to Rs 1625.36 crore, up from Rs 1158.97 crore in the year ended March 2006. Total assets of the Bank jumped 47 per cent to Rs 17,715 crore from Rs 12,050 crore in the previous year.
Reflecting its increased fund based commitment and support to the resurging corporate India, Deutsche Bank's total advances increased 92 per cent to Rs 4,945 crore from Rs 2,581 crore while total investments grew 90 per cent to Rs 6,203 crore from Rs 3,260 crore. The bank's net NPAs continued to be negligible at 0.01 per cent.
Announcing the results, Deutsche Bank India managing director and chief executive officer Gunit Chadha said, ''Our financial results clearly demonstrate a strong growth momentum in our businesses as we continue to increase our investment and commitment in the country commensurate with the exciting growth opportunity that an economically resurgent India offers today. The growth in our profits have come from an all round performance by our various businesses in India.'' Deutsche Bank recently infused Rs 1125 crore of fresh capital in its Indian operations to enable it to have a greater business engagement in the country. As a result, the bank's Capital Adequacy in India currently stands at around 13.20 per cent, from 10.62 per cent at the end of March 2007.