ABBO News

Deutsche Bank nyse Db Pumps 75 Million into Indian Operations

Deutsche Bank (NYSE: DB) Pumps $607.5 Million into Indian Operations

On Wednesday, Germany-based Deutsche Bank AG (NYSE: DB) said it had infused 51.13 billion rupees ($607.50 million) into its Indian operations to fund growth plans.

These funds, along with retained earnings and other statutory components, increase the capital at Deutsche Bank AG India branches to nearly 300 billion rupees, a 33% increase over 2023 levels, Deutsche Bank said.

The Indian economy is estimated to grow at 7.2% in the financial year ending March 2025, the fastest among major markets. The strong growth has attracted foreign lenders to expand operations in the country.

Deutsche Bank, which offers corporate, investment, and private banking, said the capital will be used to support further expansion of operations across businesses in India.

“We see enormous potential for our deeply integrated, well-diversified business in India,” said Alexander von zur Muehlen, CEO of Deutsche Bank EMEA and Germany.

The lender said the capital increase applies only to its India branches, Deutsche added. 

($1 = 84.1650 Indian rupees)

(Source: Reuters)

author avatar
Mary Lee
Mary Lee is a freelance writer and journalist based in Toronto, Canada. She holds an M.S. degree in business and economic journalism from Columbia University’s Graduate School of Journalism in New York and a certificate in digital marketing from the University of Toronto.