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January 17, 2001
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Deutsche Bank to offer portfolio services in India

Deutsche Bank has won approval from the Securities Exchange Board of India (SEBI) to offer portfolio advisory services to its clients in the country, the bank said in a statement on Wednesday.

Deutsche Bank will offer personal financial planning, investment counselling and estate management to high net worth individuals on a non-discretionary basis, the statement said.

The licence from SEBI is valid for a period of three years. Deutsche Bank offers private banking through more than 18 centres in 11 Asia-Pacific countries along with a range of financial products.

Deutsche Bank is one of the world's largest financial institutions with assets of more than 840 billion euros and a global presence in over 60 countries. It has assets under management of 560 billion euros.

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