Deutsche Bank to infuse $253 million capital

Deutsche Bank would infuse additional Rs 1,125 crore ($253 million) in its India operations, thus doubling its capital base to Rs 2,411 crore.

The infusion of additional capital will facilitate an increase in single borrower limits and risk assets, which will allow bank to offer greater financing to corporate, institutional and retail clients. The additional capital will allow the bank to tap growing opportunities in infrastructure financing and retail lending.

A remittance of Rs 500 crore has already been made and the balance of around Rs 625 crore will be remitted in the near future. Bank had last injected Rs 419 crore into the local operations in October 2004.

Deutsche bank has been operating in India since 1980, has eight branches in India with retail customer base of about 1,00,000 and a credit card base of over 50,000. The bank’s capital adequacy ratio stood at 12.74 per cent as of March 31, 2006. The deposit base was at Rs 4,379 crore and advances at Rs 2,581 crore.

Click here for more news & stories
Click here for market news