Deutsche Bank posts 32% increase in FY19 profit

Deutsche Bank posted a net profit of Rs 1,199 crore for the year ended March 2019, up 32 per cent from Rs 910 crore reported a year earlier, mainly due to higher loan growth which helped increase the total income.

The German lender reported a 23 per cent rise in loan growth to Rs 48,270 crore from Rs 39,247 crore reported last year.

Total income increased 21 per cent to Rs 6,891 crore, from Rs 5,716 crore.

However, higher loan growth also led to an increase in non-performing assets (NPAs).

Deutsche Bank's net NPAs increased to 1.44 per cent in March 2019 compared with 0.78 per cent on a year-on-year basis.

The bank has 17 operational branches in India. It infused fresh capital of Rs 3846 crore during last year taking the total capital invested in the bank in India to Rs 15,533 crore.

"A difficult macro-economic environment notwithstanding, we have remained focused on providing best-in-class services to our clients while at the same time maintaining a strict cost and risk discipline. The additional capital brought in during the year is only demonstrative of our commitment to this market and our intent to further deepen our presence in India,” CEO Kaushik Shaparia said in an emailed statement.

Shaparia, a Deutsche Bank veteran took over as CEO in May after long servicing CEO Ravneet Gill quit to head private sector Yes Bank earlier this year.