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Deutsche Bank wants to close every fifth branch

2020-09-22T10:05:45.661Z


Germany's largest financial institution tightened its austerity course. Around 100 branches are to be closed in the coming year.


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Deutsche Bank headquarters

Photo: Arne Dedert / picture alliance / dpa

Deutsche Bank plans to close one in five of its branches in Germany.

"We are planning to reduce the branch network as quickly as possible to the target size of 400 in the course of the coming year," said a spokesman for the largest German financial institution, thereby confirming corresponding media reports.

At the end of last year, Deutsche Bank had 511 branches of its own; according to the bank, there are currently slightly more than 500. In addition, customers can use the 800 branches of the Postbank, which belongs to the group, for simple banking transactions such as transfers.

According to the information, Deutsche Bank wants to close branches, especially in urban regions, where the institute is represented with several locations.

The spokesman emphasized: "We will not withdraw from the area."

The bank also wants to set up so-called DB investment centers for customer advice.

For years, the entire industry has tried the balancing act between expensive branch networks and digital offers.

More and more bank customers are processing their banking transactions online on their home computer, and advice is often given by telephone or video.

The corona crisis gave digitization a further boost.

This is why other institutes have decided not to reopen branches that were temporarily closed during the pandemic.

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ssu / dpa-AFX

Source: spiegel

All business articles on 2020-09-22

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