Germany: The largest bank in the country wants to close every fifth branch

The head of private clients at DB, Philipp Gossow, quoted by the daily “Frankfurter Allgemeine Zeitung”, said that Deutsche Bank (Germany’s largest financial institution, 17th bank in the world) wants to close a fifth of its 500 branches in Germany, “as soon as possible. possible”.

Deutsche Bank (listed on the NYSE and in Germany) wants to expand telephone and video advice as well as online banking.

– As a result of the coronavirus pandemic, the requirements for consulting and industry activities have changed further. Even customers who haven’t been able to do much with online banking in the past can now perform many simple banking operations on their PC or iPad from home, said Gossow.

Closing branches will help you save a lot of money. Like Commerzbank, which is considering even sharper cuts in its branch network, Deutsche Bank still needs to do a lot to meet its financial targets, “FAZ” writes.

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