Deutsche Bank to close nearly half of Postbank branches in response to changing demand

13/11/2023 News

According to Reuters, Deutsche Bank is set to shutter nearly half of its Postbank branches by mid-2026, adapting to evolving customer demands, according to a bank spokesperson. The plan involves reducing the current 550 branches to approximately 300. Claudio de Sanctis, Deutsche Bank's new head of private banking, revealed the branch scaling in an interview with the Financial Times, hinting at similar reductions in Deutsche-branded branches.

The acquisition of Postbank began in 2008 during the global financial crisis, but Deutsche Bank struggled for years with its integration. Recent challenges prompted Germany's top financial regulator to appoint a supervisor to oversee customer service issues arising from the Postbank integration.

These closures align with Deutsche Bank's strategic response to the growing preference for digital banking services in its retail banking business. The objective is to position Postbank as a "mobile-first" bank in the medium term. The spokesperson mentioned that approximately 100 locations will adopt a new branch format, offering on-site advice focused exclusively on banking services. Around 200 locations will continue to provide postal and parcel services.

The bank intends to negotiate these measures with employee representatives, determining final numbers and locations through these discussions. This move signifies Deutsche Bank's commitment to adapting to changing market dynamics and aligning its branch network with the digital transformation in banking.

Related news & insights

Open Finance
08/12/2023 Interview

NewTech Friday: Bizum – Real-time mobile payment solution from Spanish banks

Bizum is a leading Spanish instant payment service company. Its Business Development Manager Fernando Rodríguez Ferrer presents the company and...

Digital Reinvention
07/12/2023 Interview

Charting the future: Inside Allo Bank's vision for digital banking in Indonesia

Embark on a journey through the digital landscape of banking as we sit down exclusively with Indra Utoyo, the President...

06/12/2023 News

ING unveils the "ING Network" – A new financial hub in Padua

ING Italy gears up to unveil its latest venture, the inaugural "ING Network" in Padua. This innovative financial store is...

Digital Reinvention
05/12/2023 Study

Innovation Radar: Banking Innovation Awards winners 2023

This year we received 452 innovations from 182 institutions in 61 countries in 2023 – a true showcase for innovation...

05/12/2023 News

Navigating the pitfalls: Young investors and the impact of online financial advice

In a landscape dominated by online financial information, a recent survey by Nationwide's Advisor Authority reveals that a significant portion...

Sustainability & Regulation
04/12/2023 Article

Navigating the green wave: Insights from the French financial experts

The convergence of minds at a recent Qorus panel discussing ESG (Environmental, Social and Governance) factors in financial services painted...

04/12/2023 Study

The aging well opportunity: How trust and engagement can unlock growth for insurers

This report made by Capgemini with the participation of Qorus emphasizes the importance of early engagement with clients and beneficiaries,...

Digital Reinvention
02/12/2023 News

RCBC and Bizbaz transform credit access in the Philippines

Rizal Commercial Banking Corporation (RCBC) is partnering with Bizbaz, an AI-driven credit scoring solution, to revolutionize credit access in the...