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Deutsche Bank to sell its retail operations in India: Report

By Religare
|

Deutsche Bank has said that it is planning to sell its retail operations in the country as it undergoes a massive restructuring plan, media reported.

As per reports, Deutsche Bank's India retail banking business, involving 17 branches, is being sold along with its 20 per cent stake in Chinese group Hua Xia Bank.

Exiting Indian retail banking is part of Deutsche's larger plan to boost the European retail operation.

The bank's branch operations in the country had delivered a 93 per cent increase in its net profit for the year ended March 2015 at Rs 1,406 crore. For FY15, the bank's profit per employee stood at Rs 79.16 lakh and the capital base was Rs 9,453 crore as of March 31, 2015.

 

Apart from retail operations, the bank also has a presence in equity broking, asset management, corporate finance, non banking finance company (NBFC) in the country.

Story first published: Thursday, August 20, 2015, 23:00 [IST]
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