According to a Reuters report Deutsche Bank is thinking about selling its retail banking operations in India and has asked both Indian and international banks to place their bids. If the sale happens, Deutsche would become the latest foreign bank to reduce its presence in India.
The German bank has been trying to make its retail business (services like savings accounts, personal loans, etc.) more profitable. In March, the bank’s CEO, Christian Sewing, said they plan to cut around 2,000 jobs in the retail banking unit in 2025 and also close many branches.
For the financial year ending March 2025, Deutsche Bank made about $278.3 million in revenue from its retail banking operations in India.