Deutsche Bank’s capital increase is specific to its local India branches. Credit: Vytautas Kielaitis/Shutterstock.

Germany-based Deutsche Bank has pumped Rs51.13bn (around $607m) into its India operations to support growth through digital transformation.

The infusion, alongside retained earnings and other statutory components, raises the regulatory capital of Deutsche Bank AG India branches to nearly Rs300bn ($3.56bn).

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This marks a 33% increase over the previous year.

The bank is focusing on pivotal areas such as digital transformation, sustainable finance, technology, and infrastructure development.

Over the past decade, Deutsche Bank has tripled the capital base for its India business.

The fresh capital is earmarked for the expansion of Deutsche Bank India across its various business segments, including corporate banking, investment banking, and private banking.

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Deutsche Bank Asia Pacific, Europe, Middle East & Africa (EMEA) and Germany CEO Alexander von zur Muehlen said: “India is well positioned to benefit substantially from many of today’s most important trends – reshaped supply chains, digitization of industries, increased geopolitical frictions, global demographic changes, among others. Consequently, we see enormous potential for our deeply integrated, well diversified business in India.

“We have boosted our capital allocation in India to enable our expansion and further deepen our presence in this critical growth market.”

The capital increase is specific to Deutsche Bank’s local India branches and does not include other entities operating within the country.

Deutsche Bank Group India CEO Kaushik Shaparia said: “This incremental capital into our India franchise is a strong validation of confidence in our business model and potential in this country.

“As a Global Hausbank, we continue to see opportunities for us to work ever more closely with our clients, to support them with best-in-class services and advice.”