Deutsche Bank is weighing a complete exit from its retail banking operations in India, marking the latest retreat by a global lender from one of the world’s fastest-growing economies, according to Reuters sources.
The German banking giant has invited both domestic and international banks to submit non-binding bids for its Indian retail assets, with a 29 August deadline.
The sale would include Deutsche Bank’s 17 retail branches across India, signalling a potential end to its consumer-facing operations in the country.
While the bank declined to comment on the possible divestment, the move aligns with a broader strategic shift announced earlier by CEO Christian Sewing. In March, Sewing unveiled plans to cut around 2,000 jobs from the global retail division by 2025 and significantly reduce the bank’s branch presence to boost profitability.
Deutsche Bank has operated in India since the early 1980s and remains a key player in wholesale banking, private wealth management, and back-office operations.
Its Indian operations generated $1 billion in net revenue in 2024, on par with Singapore, but behind its core markets in Germany, the US, and the UK. However, revenue from retail banking alone stood at $278.3 million for the fiscal year ending March 2025.
Despite India’s rapidly expanding economy and growing base of high-net-worth individuals, foreign banks have struggled to scale their retail businesses in the country. Regulatory constraints and stiff competition from agile domestic players have prompted several global lenders to reassess their India strategies.
Citi exited its retail and credit card operations in 2022 in a $1 billion deal, while Standard Chartered offloaded a $488 million personal loan portfolio to Kotak Mahindra Bank in 2024.
This isn’t Deutsche Bank’s first attempt to streamline its India footprint. A similar plan to offload its retail and wealth management businesses was explored in 2017 but was ultimately abandoned.
While the bank’s retail unit may be on the block, its India presence remains significant. With over 22,000 employees, mostly in technology and operations, India stands as Deutsche Bank’s largest hub outside of Germany, underscoring its critical role in the bank’s global infrastructure.
