India is a crucial market for Deutsche Bank Group because it is one of the top countries for the German giant's expansion. India is also among the top three P&L contributors globally and has the bank's largest overseas footprint outside of Germany.
Therefore, it is not surprising that the bank is entirely focused on the Indian market and its clients - both those who are already there and those who are considering India as a hub in order to lessen their reliance on China.
As huge corporations evaluate their (China-Plus-One) site strategy, the bank group will find that many seek to establish themselves in India. The CEO said that he is investing a lot of time with his international network to spread the word about India to his clientele, Kaushik Shaparia, CEO, Deutsche Bank Group said.
Given that India garnered a record $83.57 billion in foreign direct investment in FY22—a 20-fold increase from $4.3 billion in FY04—government data on this assumes relevance.Shaparia, who has worked for the German banking giant for almost 40 years, also thinks that his bank will play a significant role in the Indian market as more companies reevaluate their plans in light of the current macroeconomic and geopolitical variables.
“There are a lot of good companies, which will need support as they reorganise and restructure themselves. So, I think there is an important role which we can play. With equity funding becoming tougher, we see an opportunity for debt funding, not just working capital, but also structured finance. Secondly, the need to hedge is critical in today’s volatile markets. In this area, we have significant expertise and offer a fair amount of solutions. So, I see that as a very big opportunity,” he says.
In Mumbai, Germany's Deutsche Bank opened its first office in India in 1980. Since then, the company has expanded to 18 branches across 15 Indian cities, making it one of the country's biggest international banks. With a significant presence in a number of markets, including commercial banking, investment banking, wealth management, and retail banking, Deutsche Bank has over 2,000 corporate & institutional clients and over 1.5 lakh retail customers in India.