Deutsche Bank to sell off its 17 Indian retail branches
Deutsche Bank is pulling out of India's retail banking scene, selling off its 17 branches.
This move is part of a global shake-up by CEO Christian Sewing to cut 2,000 jobs and close branches for better profits.
Banks interested in taking over have until August 29 to make their bids.
Why the exit? Retail banking in India is tough for foreigners
Even with India's economy growing at a solid rate, foreign banks like Citibank have already left, and others such as Standard Chartered have scaled back operations because it's tough to compete and the rules are strict.
Deutsche Bank made $278 million from Indian retail this financial year (FY ending March 2025)—but making real profits here isn't easy.
Deutsche Bank's history in India
Deutsche Bank has been around in India since the '80s and employs over 22,000 people—making it their biggest market outside Germany.
This sale brings back an old exit plan from 2017 and signals a shift toward lighter, more profitable business models as the banking sector keeps changing.