Deutsche Bank to shut 20% of branches in Germany as customer habits change
Deutsche’s rival, Commerzbank, recently opted to shut 200 of its 1,000 branches and is considering closing hundreds more
22 September 2020 - 15:40
Frankfurt — Deutsche Bank plans to shutter one in five branches in Germany as it seeks to save costs and capitalise on the changing habits of customers during the coronavirus pandemic, an executive said.
Philipp Gossow, who oversees the retail banking business in Germany, told Reuters that the reduction to about 400 branches from around 500 currently would occur primarily in urban locations and take place “as quickly as possible”...
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