EXCLUSIVE-Deutsche Bank to close 20% of domestic branches in coronavirus shift

Contributor
Patricia Uhlig Reuters
Published
Credit: REUTERS/SIMON DAWSON

Deutsche Bank plans to shutter one in five branches in its home market in Germany as it seeks to save costs and capitalise on the changing habits of customers during the coronavirus pandemic, an executive said.

FRANKFURT, Sept 21 (Reuters) - Deutsche Bank DBKGn.DE plans to shutter one in five branches in its home market 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 some 400 branches from around 500 currently would occur primarily in urban locations and take place "as quickly as possible".

Branch density differs greatly across Europe https://graphics.reuters.com/HEALTH-CORONAVIRUS/BANKS-BRANCHES/yxmvjnnmovr/

Shrinking footprint: The decline in bank branches in Europehttps://graphics.reuters.com/HEALTH-CORONAVIRUS/qzjvqywyovx/

(Reporting by Patricia Uhlig Writing by Tom Sims Editing by Michelle Adair)

((Tom.Sims@thomsonreuters.com; +49 30 220 133 645;))

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Reuters

Reuters, the news and media division of Thomson Reuters, is the world’s largest international multimedia news provider reaching more than one billion people every day. Reuters provides trusted business, financial, national, and international news to professionals via Thomson Reuters desktops, the world's media organizations, and directly to consumers at Reuters.com and via Reuters TV.

Learn More

More from Reuters