Germany's largest bank is further thinning out its branch network: around 50 locations are to close. This is part of a new strategy for the bank.
Deutsche Bank plans to further thin out its branch network. Of the 400 branches, around 50 smaller locations are affected. A “mid-double-digit” number of branches will be closed, Germany's largest bank announced on Wednesday.
The exact number has yet to be clarified, and negotiations with the works council will begin soon. “Deutsche Bank will continue to have a nationwide presence with a comprehensive branch network,” the institute said.
At the same time, the offer of personal advice on site will be supplemented with a significantly increased capacity for advice via video and telephone, the Dax group in Frankfurt announced. This is in response to the needs of customers “who are increasingly using this form of advice as a convenient alternative with extended consultation times,” it said. Deutsche Bank also wants to invest in the equipment of its branches, for example in new ATMs.
The institute stressed that the measures are a way of implementing the previously announced strategy in the private customer segment. According to previous information, a mid-three-digit million amount is being invested in modernizing the private bank worldwide.
