Deutsche Bank plans to sell its Indian retail banking division, according to insider reports.
Deutsche Bank has set an August 29 deadline for non-binding bids from several banks for its retail India assets, according to sources with direct knowledge of the matter. The bank is exploring the sale of its Indian retail banking assets, but specific interested parties or bidders are not disclosed in the provided information.
The German lender's Indian retail banking business spans 17 branches, and the exploration involves inviting bids from domestic and foreign lenders in India. The decision to sell the Indian retail banking assets is not officially confirmed by Deutsche Bank, but the bank has been making moves to streamline its operations and focus on its core businesses.
The headcount at Deutsche Bank's retail bank is expected to be reduced by almost 2,000 people by 2025. Christian Sewing, the bank's CEO, has pledged to make the retail business more profitable, and the sale of the Indian retail banking assets is seen as a step towards achieving this goal.
The potential buyers of Deutsche Bank's retail banking activities in India have not been explicitly named in the available search results. Deutsche Bank did not comment on the rumours or market speculation regarding the sale of its Indian retail banking assets, and the details of any potential bids received for the Indian retail business were not immediately clear.
The valuation the bank is seeking for its India retail business was not immediately clear either. However, it is expected that the sale of the Indian retail banking assets will help Deutsche Bank to focus on its core businesses and reduce its exposure to the Indian market.
The sale of Deutsche Bank's Indian retail banking assets is likely to result in a significant reduction in the number of the bank's retail bank branches. The bank has been under pressure to reduce costs and improve profitability, and the sale of the Indian retail banking assets is seen as a way to achieve these goals.
In conclusion, Deutsche Bank has set an August 29 deadline for non-binding bids from several banks for its retail India assets. The bank is exploring the sale of its Indian retail banking assets, but specific interested parties or bidders are not disclosed in the provided information. The sale of the Indian retail banking assets is expected to result in a significant reduction in the number of the bank's retail bank branches and help Deutsche Bank to focus on its core businesses and reduce its exposure to the Indian market.
