It is reported that Deutsche Bank will sell its retail banking business in India to focus on profit improvement

Deutsche Bank is considering selling its retail banking business assets in India and has invited domestic and overseas lending institutions 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 insiders with direct knowledge of the matter, Deutsche Bank plans to fully divest its retail banking operations in India, which includes 17 branches. The bank has committed to making its retail business more profitable. In March of this year, the bank's 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. These insiders noted that Deutsche Bank has set August 29 as the deadline for several banks to submit non-binding bids for the acquisition of its retail assets in India. The specific details of any potential bids received remain unclear. The bank's valuation of its retail business in India has also not been specified. Relevant disclosures indicate that Deutsche Bank's retail banking revenue in India for the fiscal year ending March 2025 is $278.3 million