Deutsche Bank explores the full output of retail work in India, and calls for bids by August 29: Report

Deutsche Bank explores the sale of its Indian retail bank Reuters a report. This step, if it is fulfilling, will make it the latest foreign bank to reduce its exposure to India.

The lender residing in Germany has pledged to make retailers more profitable. In March, CEO Christian Sewing announced plans to reduce nearly 2000 jobs in the retail unit in 2025, as well as a “significant” decrease in the numbers of branches.

In India, Deutsche seeks to get out of its fully retail banking business, which is currently operating through 17 branches, Reuters I mentioned. The bank has set a deadline on August 29 to provide binding bids from many interested lenders. Details of the receiving bids, as well as the required evaluation of retail origins in India, are still unclear.

For the fiscal year ending in March 2025, Deutsche recorded $ 278.3 million of retail banking revenue from India.

Deutsche, who entered India in the early 1980s, built the presence in the treasury, derivatives, special wealth management, companies and banking services for sale. The bank achieved one billion dollars from India’s revenues from India in 2024, similar to Singapore, but behind its largest markets such as Germany, the United States and the United Kingdom.

While retail sales may be on the mass, Deutsche continues to expand other parts of its business in India. The strength of the employee, including the roles of the back office and technology, grows steadily. With more than 22,000 employees at the end of 2024, India is the largest operation in Deutsche outside Germany.

Despite the rapid economy in India and the high number of the wealthy population, foreign banks have struggled to expand retail operations in the country, and to restrict them through strong local competition and organizational obstacles.

CITI came out of the credit and bank retail companies in India in 2022 in a deal that is worth more than one billion dollars, while Standard Charterd sold the personal loan book of $ 488 million to Kotak Mahindra Bank last year.