DBS Bank India, part of Singapore-based DBS, said it logged a net profit of INR3,355 million in the year ended 31 March, a surge of 164 per cent from a year before.

DBS Bank India, part of Singapore-based DBS, said it logged a net profit of INR3,355 million in the year ended 31 March, a surge of 164 per cent from a year before.

“The client base expanded and we engaged with them at various levels to understand their requirements and accordingly offer optimal solutions. This enabled us to strengthen relationships and boost our FY2011-12 revenue and profits to new highs,” Sanjiv Bhasin, chief executive, DBS Bank India, said.

Total deposits stood at INR129,2 million. During the year, DBS injected INR5,085 million into DBS Bank India as additional capital.

The bank had a cost/income ratio of 38.7% per cent at end of March, down from 47.7 per cent a year before.

“India continues to remain a key market for DBS, and an integral part of its Asia strategy. Since opening its first branch in India in 1995, DBS has successfully built a large, diverse franchise that can today be counted amongst the larger foreign banks in the country,” DBS said in a statement.