Ignoramus Equity Infusion Done In India By Deutsche Bank
Deutsche Bank, a German multinational investment bank and financial services company, sees a bigger future in the country. The company has endowed money in digital technologies to increment its retail operations and plus, earn twofold revenue. After the move, the bank has turned into a sole-largest equity infusion in the country. In December 2018, the company had invested 500 million in the Indian market, which was the second infusion, aggregating investment to 1.9 billion, mentioned by Werner Steinmueller.
Steinmueller, CEO of Deutsche Bank, said: This capital infusion signals our commitment to a very important market and will be used to expand our businesses in India. At the moment, the bank is actively searching for the new CEO for India division. The former CEO, Ravneet Gill resigned and currently, serving as CEO of Yes Bank. (Source: ET news)
Earlier on, the company had decided to sell off its retail business in the country. However, the plan has now changed as confirmed by Steinmueller. He added, We considered repositioning our retail business, but in the end, we came to a different conclusion and decided to keep it. The decision was made last year. (Source: ET news)
In the country, the companys retail business includes lending money to wealth management as well as individuals.
