Nearly four years after Citibank’s exit from India’s retail banking sector, Deutsche Bank now seems to be following suit. According to senior bankers who spoke to Moneycontrol on the condition of anonymity, the German lender has decided to withdraw from its retail operations in India as part of its global strategy. A request for non-binding bids was sent to India’s top four private sector banks on August 29. However, initial interest appears limited, with the top three banks reportedly showing little enthusiasm.
The proposed sale would include Deutsche Bank’s retail assets, liabilities, and wealth management business. If a deal proceeds, 17 branches and approximately 1,300 employees would also be transferred. While Deutsche Bank’s retail assets in India are estimated at ₹25,000–30,000 crore, they are not seen as sizable enough to attract widespread interest. The wealth management division, however, valued at around $2 billion (₹15,000–16,000 crore), may appeal to some buyers.
In November 2024, Deutsche Bank AG infused ₹5,113 crore into its Indian arm, raising questions about why it is now looking to exit so soon—potentially to stem losses, some bankers suggest.
