Foreign bank, Deutsche Bank has planned to reach 30% increase in its Indian operations. Till now, the bank was concentrating on deposits and mortgage lending as the main areas of focus. Now it plans to venture into small and medium enterprises (SME) and personal banking sectors.
The bank’s deposits presently are valued at Rs 1300 crore representing a 30% y-o-y growth. Lending comprised 60% increase on y-o-y basis worth Rs 1200 crore, said Prashant Joshi, MD and head (private and business clients), Deutsche Bank India.
There are currently 15 bank’s branches in rural and semi urban areas. It intends to add 2-3 branches to this list each year. The branches are situated in cities such as Ludhiana, Moradabad, Delhi, Gurgaon, Noida, Salem, Vellore, Kolhapur, Aurangabad etc.
These branches mainly contain units which handle clients in European nations particularly Germany, the bank’s native place. Joshi said, “In a way, our German connection really helps and it makes it easy for us to create the brand building. Going forward, our focus will be mainly deposits, transaction business (remittance and investments)”.
About SME division, he said, “As we grow our deposit base, in the next two years, we will start lending to this segment which has solid growth”.