Deutsche Bank is shedding 200 more branches – including at Postbank

The austerity course at Deutsche Bank entails a further branch reduction. An additional 200 branches at Deutsche Bank and Postbank are to close by the end of 2022.

Deutsche Bank will cut 200 additional branches over the next two years. “As already announced, we will close around 100 Deutsche Bank branches,” said Vice President Karl von Rohr of “Welt” (Wednesday edition). “In addition, we want to give up around 50 Postbank locations in each of the next two years. Overall, our branch network in Germany will shrink by a further 200 branches by the end of 2022.”

A merger of Deutsche Bank and Postbank branches ruled out von Rohr. “We are sticking to our two-brand strategy because we have a very differentiated brand positioning,” said the bank manager.

However, the two brands would cooperate even more closely in the future. As soon as it is technically feasible, everyday financial transactions should be possible for both customer groups at every counter. In the consultation, however, will still be separated.

350 jobs will be lost

In addition, Deutsche Bank is reducing additional jobs in the private customer business. In the headquarters in Bonn and Frankfurt, around 350 jobs are to be lost by the end of 2022, as von Rohr said in the interview.

“A few days ago we were able to agree to cut 37 percent of the jobs in our private customer headquarters in Frankfurt and Bonn,” said the deputy chairman of Deutsche Bank. “Further steps will follow in other areas of the private customer business.”

Deutsche Post has a say in closings

In addition, the bank recently agreed on the sale of Postbank Systems to Tata. “This will reduce the number of jobs in our bank by around 1,500.”

Deutsche Bank has a little more than 500 branches nationwide, the Postbank subsidiary operates around 800 locations. When closing Postbank branches, Deutsche Bank must also coordinate with Deutsche Post.

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