Deutsche Bank with branch clearing: These locations in Bavaria, Hesse and North Rhine-Westphalia have to close

Deutsche Bank is serious about the planned location adjustments.

One in five branches in Germany should close by the end of the year.

Frankfurt / Main - With the planned reduction of almost 100 branches, Deutsche Bank wants to use the red pencil, especially in large cities and North Rhine-Westphalia. In the most populous federal state, 37 locations are to be closed, including four branches in Düsseldorf and three each in Cologne and Essen, according to an overview published on Friday on the homepage of the money house. The largest German financial institution is giving up four locations each in Munich, Hamburg and the banking metropolis of Frankfurt.

"When selecting the locations, we made sure that the way to the next branch in rural areas was not too far," said Philipp Gossow, who heads the Deutsche Bank brand's private customer business in Germany, the

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"In the city centers it is also possible to be there for customers with fewer locations."

Deutsche Bank: One in five branches should close by the end of the year

Germany's largest financial institution plans to close the last 497 branches of the Deutsche Bank brand by the end of 97.

Around 450 full-time positions are to be eliminated net.

The institute recently reached an agreement with the employees on a reconciliation of interests.

The jobs are to be cut in a socially acceptable manner, including early retirement, partial retirement and severance payments.

“We want and will be present across the board. 400 branches are a good number, which should remain largely stable in the coming years, ”Gossow told the German press agency. “More and more customers are making use of digital banking services. This trend has accelerated due to the Corona * pandemic. ”Seven branches are to be converted into so-called investment centers. In the past financial year, the bank was back in the black for the first time in six years.