MUMBAI, July 2: Deutsche Bank India Tuesday
reported a 32 percent rise in net income from its branch
operations at Rs 1,199 crore for FY19, despite a massive spike
in bad loans.
The local arm of the largest German bank’s, which
operates through a branch model, net non-performing assets
ratio nearly doubled to 1.44 percent during the reporting
year.
The lender, which has 17 branches in the country,
infused Rs 3,846 crore in fresh capital during the reporting
year, taking the total capital base to over Rs 15,000 crore.
Its advances rose 23 percent, much faster than the
systems 13 percent credit growth, to Rs 48,270 crore, while
the deposit growth came in at 19 percent, the bank said in a
statement.
Its new chief executive Kaushik Shaparia said it was a
“difficult macroeconomic environment” in the country.
He further said the new capital infusion should be
seen as an affirmation of the parent’s commitment to deepen
its presence in the country.
Following the fresh capital infusion and higher
profit, the bank’s overall capital adequacy has increased to
16.03 percent from 15.22 percent in the year-ago period.
Operating profit moved up 27 per cent to Rs 2,487
crore on higher advances, while total income grew 21 per cent
to Rs 6,891 crore.
The bank has improved the cost-to-income ratio to 43
per cent as against 46 per cent in the year-ago period.
The profit per employee also moved up by 41 per cent
to Rs 71.81 lakh. (PTI)
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