Deutsche Bank opens first branch in India
Special Correspondent
Oct. 19, 2005

Deutsche Bank, Germany's leading bank, yesterday opened its first branch in India in the city of Mumbai in its third step towards international expansion in as many days. In India, Deutsche Bank is to target the increasing number of wealthy customers in the country and is to offer current and savings accounts, as well as investment and credit products. Further branches are also to be opened in other large cities in India, such as New Delhi, Calcutta and Bangalore.

The move comes as Deutsche Bank is focusing on international expansion. In recent days, the German bank has announced the acquisition of a stake in Chinese bank Huaxia Bank and has also submitted a bid for Romanian bank Banca Comerciala Romana. Analysts believe that this strategy reflects improved profit performance at Deutsche Bank.

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