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.
You may also like
South Korea’s FSC nominee throws ‘volatile’ crypto under the bus
Share link:In this post: Lee Eok-won, the nominee for the Financial Services Commission chair, declared his first public stance on virtual assets. Lee believes the youth demographic is increasingly drawn to crypto investments, which could lead to significant financial losses due to their volatile nature. The industry has responded to his stance with ire, as many think it spells doom for the future of crypto in the country.
California’s $4 trillion economy at risk amid immigration crackdown
Share link:In this post: A study warns that stricter immigration enforcement could cost California up to $278 billion in GDP. California’s $49 billion agriculture industry employs a large share of immigrant labor. More than 60% of California’s construction workforce is foreign-born.
EU commits to signal jamming tech after Russia disrupts EU president’s travel plans
Share link:In this post: Russia became the suspect after Von der Leyen’s plane was disrupted by GPS jamming in Bulgaria. GPS interference has surged across Europe since the Ukraine war, affecting flights, ships, and communications beyond border regions. The union will deploy new low Earth orbit satellites and strengthen its own GPS system to counter electronic warfare.
El Salvador to host world’s first government-backed Bitcoin conference
Share link:In this post: El Salvador will host the world’s first government-backed Bitcoin conference in November 2025. The El Salvador event will feature workshops, keynote addresses, and top industry speakers worldwide. Bitcoin is recovering above $109K as investors watch for a possible US Fed rate cut.
Trending news
MoreCrypto prices
More
