Daijiworld Media Network – Mangalore (NR)
Mangalore, Feb 9: World famous banking entity, the 30-billion-euro Deutsche Bank (DB) which first made its presence felt on the Indian soil way back in 1980, has since then blossomed into a full-fledged financial services entity providing clients here with a complete range of products and services, spreading across the areas of global banking, global markets, retail banking, private wealth management and asset management.
Presently, the bank has 10 branches spread all over India including Bangalore. According to the bank's India fact-sheet its operations have a total balance sheet size of US $ 4.2 billion, with the group employing more than 5,000 employees. The bank is understood to be keen on doubling its headcount of 5,000 in the next two years. Its Bangalore and Mumbai branches in-fact provide world class operating infrastructure to Deutsche Bank's global businesses.
With regard to investment in Indian market, India, among the European investors, is believed to be a good investment despite political uncertainty, bureaucratic hassles, shortages of power and infrastructural deficiencies. Not just the major cities in the country like Bangalore and Mumbai even the two-tier cities today has huge potential for overseas investment and there is active encouragement for the entrance of foreign players into the market.
Against this background, its no wonder that the DB management is understood to be in talks with Karnataka government to purchase 100 acres of prime land in Mangalore city to set up its world's largest IT infrastructure support facility. The proposed facility will comprise the bank's largest data centre, disaster recovery centre, global network support centre and back-end support centre, and is expected to support Deutsche Bank's global operations and branch networks spread across 76 countries, according to informed sources in the state government.
Moreover, according to the same source the Bank has concrete plans on the anvil to set up a state-of-the-art technology facility that will drive its global businesses in Karnataka. High ranking officials of DB are understood to have approached the government. And accordingly they have been shown some prime industrial land in the city. Government has assured the global bank of all help in completing the formalities and giving due clearance, added the source.
Moreover, the bank officials have already visited the city and are understood to be very happy with the plots of land shown to them. Although DB would like to finalize the land deal in Karnataka, at the same time it is also exploring similar deals in other states. Within the Bank itself, sources inform that the bank has set aside around Rs 500 crore towards buying land in India, but on the topic of land acquisition they preferred to be keeping all cards close to their chest and did not give out any details.