Deutsche India net soars 32% despite doubling of NPAs

Mumbai: Deutsche Bank India on Tuesday reported a 32 per cent 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, which operates through a branch model, net non-performing assets ratio nearly doubled to 1.44 per cent 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 per cent, much faster than the systems 13 per cent credit growth, to Rs 48,270 crore, while the deposit growth came in at 19 per cent, the bank said.