Deutsche Bank puts up India retail banking business for sale: Report

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Deutsche Bank AG is exploring the sale of its Indian retail banking assets and has invited bids from domestic and foreign lenders in the country, two people aware of the matter told Reuters, making it the latest foreign bank to consider trimming its bets on India.

The logo of German giant Deutsche Bank is seen on one of their branches in Frankfurt am Main, western Germany.(AP)

The Germany-based bank wants to completely sell its retail banking business, which spans 17 branches, the people said on the condition of anonymity as the discussions are private.

The lender had set 29 August as the deadline for non-binding bids from several banks for its retail India assets. Details of any potential bids received were not immediately clear. The valuation the bank is seeking for its India retail business was also not immediately clear.

When contacted by Reuters, a Deutsche Bank spokesperson said it does not “comment on rumours or market speculation”.

The Germany-based bank has pledged to make its retail business more profitable. In March, CEO Christian Sewing said headcount at its retail bank will be cut by almost 2,000 people in 2025, with a "significant" reduction in branch numbers.

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