Deutshe bank net up by 77 pc

Mumbai, Jun 18 (UNI) Deutsche Bank, a global investment bank, has posted a net profit increase of 77 per cent at Rs 386.11 crore for the year ended March 31, 2008, as compared to Rs 218.22 crore a year ago.

Total income grew by 51 per cent at Rs 2,461.71 crore from Rs 1,625.37 crore during the same period in the last fiscal. Total assets of the Bank jumped by 40 per cent to Rs 24,713 crore from Rs 17,715 crore in the previous year, the bank said in a release today.

Commenting on the financial result, Bank's Managing Director and Chief Executive Officer Gunit Chadha said, ''The growth in our profits have come from an all round performance by our various business in India.'' Total advances rose by 81 per cent to Rs 8,960 crore from Rs 4,945 crore, while deposits surged by 97 per cent to Rs 13,755 crore, as against Rs 6,978 crore in FY08, the Bank said.

The Bank's net NPAs continued to be negligible at 0.22 per cent, while Net Interest Margin increased to 3.8 per cent as against 2.9 per cent. The capital adequacy in India as at end of March 2008 stood at 13.58 per cent, as against 10.62 per cent a year before, it added.

UNI PP RN SKB1756