(14 December 2005 – India) Deutsche Bank has launched a debit card offering and begun providing retail services in India, the bank’s first retail operation outside of Europe.Deutsche said it had a three year plan for its Indian retail business and expected to break even after this period.
The bank has launched a Gold Debit card offering in India which allows free withdrawals at ATMs. Deutsche has opened eight retail branches in the country with the Delhi branch being the latest.
Up until now, Deutsche has only operated in corporate and investment banking in India but the country’s fast emerging middle class has proved attractive to Deutsche and many other international banks.