Deutsche Bank India posts a whopping 93% net profit

Deutsche Bank India’s gains for FY14-15 have seen significant growth amidst troubles with international authorities on issues of money laundering and interest rate rigging.

The bank posted a net profit of Rs. 1,406 Crores for the year ending March 2015. That is a significant increase over previous year's Rs. 729 Crores.

The company’s advances grew 25% y-o-y and have managed to keep non-performing assets ratio at 0.13%.
Its profit before tax grew 81% at Rs. 2,544 Crores as against Rs 1,405 Crores from the previous fiscal, and net revenue has increased 45% at Rs. 3,925 Crores up from the previous Rs. 2,713 Crores.

"Deutsche Bank's sustained strategic focus on India has played a big role. Also, the bank's tight cost to income ratio and low net NPA ratio of 0.13 per cent points to the excellent cost and risk culture within the organization," Ravneet Gill, CEO, Deutsche Bank said.

(Image credit: Indiatimes)