Deutsche Bank AG announced its India branches have posted a 48 per cent increase in net profit for the year-ended March 31, 2021 at ₹1,527 crore. It had reported a net profit of ₹1,031 crore in 2019-20.
Net revenue in the fiscal 2020-21 grew 23 per cent to ₹5,537 crore as against ₹4,510 crore a year ago.
The growth in net revenue was “driven by consistent performance across all our businesses in India, aided in large part by a strong cost and risk discipline,” it said in a statement on Thursday.
Its net non-performing assets fell by 44 basis points to 0.86 per cent of net advances in 2020-21 as against 1.31 per cent in 2019-20.
Advances increased by three per cent on an annual basis to ₹52,438 crore as on March 31, 2021 while deposits grew by 11 per cent to ₹66,224 crore.
Increase in capital deployment
“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. Despite the impact of Covid, our asset quality continues to be strong,” said Kaushik Shaparia, CEO at Deutsche Bank India.
The additional capital infused during the year positions the bank strongly for 2021-22 as well, he further said.
“During 2020-21, 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 said.
The bank’s Capital Adequacy Ratio in March 2021 stood at 17.28 per cent – an increase over the March 2020 level of 14.93 per cent.