Money & Banking

Deutsche Bank to slash branches

Bloomberg June 12 | Updated on June 12, 2020 Published on June 12, 2020

Deutsche Bank is seeking to accelerate cuts to its German retail branch network as part of CEO Christian Sewing’s effort to drive down costs. The extent of the cuts partly depends on the results of a pilot project in which it serves clients from its two domestic retail brands, Deutsche Bank and Postbank, in the same branch. Some executives are skeptical the test will be successful.Deutsche Bank already slashed about 400 German branches over the past four years. It now has approximately 1,300 left, of which some 500 are Deutsche Bank branches and the rest Postbank.

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Published on June 12, 2020
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