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Deutsche India FY13 net jumps 25% to Rs 1,033 crore

MUMBAI: Deutsche Bank India today reported a 25 per cent rise in its net profit at Rs 1,033 crore from its branch businesses in the fiscal year ended March 2013, up from Rs 823 crore in the year ago period. 

Total income of the German lender's branch operations here rose 15 per cent to Rs 3,639 crore in FY13 against Rs 3,151 crore in the previous fiscal. 

"Deutsche Bank India's robust growth in profit in a challenging business 
environment reflects its judicious allocation of resources, deep client relationships and well diversified businesses. 

"The 78 per cent growth in advances is indicative of our strong commitment to this market and the clients we serve here," said Deutsche Bank India 
chief executive Ravneet Gill. 

According to the foreign lender, the bank's total balance sheet rose 41 per cent to Rs 40,492 crore as of March end, while its net advances jumped 78 per cent to Rs 22,374 crore, mainly due to increased lending to wholesale and retail businesses. 

Total deposits increased 23 per cent over the same period previous fiscal. 

The bank's net NPAs rose marginally to 0.13 per cent of advances against 0.09 per cent in FY12. 

"The bank achieved a tight cost to income ratio of 38 per cent and net NPAs to net advances ratio of 0.13 per cent with a provision coverage ratio of 81 per cent," Gill said. 

The bank also said it increased its capital by over Rs 1,600 crore during this period, which is the sixth capital infusion since 2007. 

"Deutsche Bank India's capital base stands at over Rs 7,000 crore, reflecting the bank's strong focus on corporate and retail clients here. The banks' capital adequacy ratio stood at 14.1 per cent as of March," Gill said. 

The lender said the results cover the performance of its 17 branches and don't include its other group entities here covering businesses relating to equity broking, asset management, primary dealership, corporate 
finance, outsourcing or the NBFC.