Deutsche Bank, which specialises in asset reconstruction worldwide, is planning to pick up stakes in asset reconstruction companies -- Asset Reconstruction Company of India Ltd and ASREC India Ltd.
With a presence in 75 countries, the bank is also planning to tie up with domestic banks to offer structured financial products allowing high net worth retail clients to invest in the overseas market.
"The bank is in talks with both the AMCs for pick up stakes in them but a decision on the nature of the investment and its value would have to be decided," said Gunit Chadha, managing director and chief executive officer, Deutsche Bank.
"The market for asset reconstruction is yet to develop in India. In countries with a developed asset reconstruction segment, there is a ready market where asset securities are actively traded and there are companies which specialise in dealing in these securities," said Chadha. The development of the market would take some years, he said.
Chadha said, "With the Reserve Bank of India allowing the general public to invest overseas to a maximum of $25,000, the bank has firmed up plans of tying with other domestic banks, mostly public sector and private ones which do not have sizable presence overseas but would like to offer investment options to their customers in the overseas market," he said.
"The bank would allow retail clients of partner banks to buy structured products from overseas markets," he said.
Talking on strategies for the country, Chadha said India was one of the most important destinations for Deutsche Bank's global operations.
Business volumes in the country were expected to grow at 20-25 per cent this year and sustain this rate of growth over the next four to five years.
Profits, he said, were also expected to grow at the same pace. Last year, Deutsche Bank registered a Rs 176 crore (Rs 1.76 billion) profit after tax.
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