Deutsche Bank, the German banking leader and a key global player in the investment banking space has increased the capital base for its India operations by Rs. 450 crore. This increase in capital is expected to fuel its growth plans, and the move is seen at the banks increasing focus on the Indian market.
The fund infusion pertains to retail banking, branch expansion and adding to its core banking business, while it may not be directed towards the banks other activities like – investment banking, equity broking etc. The bank has also recently announced a co CEO structure for its Asia Pacific operations. It is to be noted that the focus on Asia – Pacific, also leads to an enhanced focus on the India market. Indian operations comprise nearly half of the company’s manpower in Asia Pacific.
Presently the company has 15 branches and would be adding to its retain banking business by adding a branch in Ahmedabad and Surat. With this the company would have a spread of 17 branches spread over 16 cities. Deutsche Bank established its first branch in India in 1980. Currently the company employs about 9000 employees in the country.
Deutsche Bank is a leading global investment bank with a strong and profitable private clients franchise. The bank is a leader in Germany and Europe, and is continuously growing in North America, Asia and key emerging markets. The bank employs more than 78,000 employees in over 70 countries worldwide.