Deutsche Bank is looking to sell its Indian retail banking business, as per the latest report from Reuters. The German bank has invited bids from domestic and foreign banks for its retail banking assets.
The report stated that Deutsche Bank had set a deadline of August 29 for non-binding bids from several banks. The details of the bids received by the bank have not been revealed yet.
Deutsche Bank trimming costs
The bank is exploring its options to completely sell its indian retail business, which has 17 branches throughout the country. Earlier this year, the bank had planned to make its retail business more profitable. In March, the Bank’s CEO, Christian Sewing, said that the bank would make a significant reduction in branches and would cut about 2,000 jobs to trim costs.
Deutsche Bank tried to sell its Indian retail and wealth management business in 2017, but the plan was later shelved.
Deutsche Bank has also not provided any update on the valuation of its retail business in India. In the financial year 2025, the bank’s revenue from retail business stood at Rs $278.3 million.
Foreign banks’ India struggle
Despite a rising number of wealthy individuals in India, one of the world’s fastest-growing economies, foreign banks have struggled to boost revenues due to stiff competition from local players and regulatory limitations.
Deutsche Bank is the latest foreign bank to consider trimming its bets on India. Earlier in 2022, Citi also decided to sell its credit card and retail businesses in a more than $1 billion deal amid dwindling market share and as part of a global strategy to overhaul the bank.
Last year, Standard Chartered also sold its India personal loan book of $488 million to Kotak Mahindra Bank.
Deutsche Bank’s India business
Deutsche Bank has been active in India since the beginning of the 1980s, offering services including treasury, derivatives operations, private wealth management, and corporate and retail banking.
According to its annual report, the bank generated $1 billion in net revenue from India in 2024, roughly on par with Singapore but trailing countries like Germany, the U.S. and Britain. It does not give a breakdown of its retail business.
Employee growth in India, including back office and technology operations, has been on the rise in recent years. Overall, India is Deutsche Bank’s largest operation outside Germany, employing more than 22,000 staff at the end of last year, according to its latest annual report.