Deutsche Bank (DB.US) reportedly to sell Indian retail banking business to focus on profitability improvement
According to Jinse Finance APP, Deutsche Bank (DB.US) is considering selling its retail banking assets in India and has invited both domestic and overseas lenders to participate in the bidding, according to two sources. This makes the foreign bank the latest to consider reducing its operations in India. According to two people directly familiar with the matter, Deutsche Bank plans to fully divest its retail banking business in India, which covers 17 branches.
The bank has committed to making its retail business more profitable. In March this year, CEO Christian Sewing stated that the number of employees in its retail banking division would be reduced by nearly 2,000 by 2025, and the number of branches would be significantly decreased.
The sources said Deutsche Bank has set August 29 as the deadline for multiple banks to submit non-binding offers to acquire its retail assets in India. It is not yet clear what the specific details of any potential offers are. The bank's valuation of its Indian retail business has also not been clarified.
Relevant disclosures show that Deutsche Bank's retail banking business in India generated revenue of $278.3 million for the fiscal year ending March 2025.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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