Home >Industry >Banking >Deutsche Bank India reports 48% rise in FY21 net profit

MUMBAI: Deutsche Bank AG has said that its India branches posted a profit after tax of 1,527 crore for the year ended 31 March, a 48% rise from the previous year.

The lender’s net revenues in India, at 5,537 crore, were up 23% over the previous year. The bank said, in a statement, that this growth was driven by consistent performance across all our businesses in India, aided in large part by a strong cost and risk discipline. Its profit before tax during the year climbed to 2,739 crore, a 38% growth over the last financial year.

During FY21, Deutsche Bank increased the capital deployed in its India branches by 3,326 crore to support growth across all its business lines, taking the total capital deployed to 19,345 crore. The bank’s capital adequacy ratio was at 17.28% and showed a 236 basis points (bps) jump from fiscal 2020.

“The last financial year was hugely challenging by any measure but by staying close to our clients and supporting them with their liquidity and risk requirements, the teams at Deutsche Bank once again demonstrated their resilience and dedication," said Kaushik Shaparia, chief executive officer, Deutsche Bank India.

Shaparia said that despite the impact of covid-19, the bank’s asset quality continues to be strong with a net non-performing assets ratio of 0.86% as against 1.31% in the previous year. “The additional capital infused during the year positions us strongly for FY22 as well," said Shaparia.

Deutsche Bank India’s total assets increased 7% to 1.29 trillion. Its total advances in FY21 were up 3% to 52,438 crore, while total deposits grew 11% to 66,224 crore in the same period. To be sure, these financials are related to the performance of the 17 India branches of Deutsche Bank AG and do not include the results of other Deutsche Bank Group entities in the country.

Subscribe to Mint Newsletters
* Enter a valid email
* Thank you for subscribing to our newsletter.

Never miss a story! Stay connected and informed with Mint. Download our App Now!!

Edit Profile
My ReadsRedeem a Gift CardLogout