Deutsche Bank recently revealed a cap hike and restructuring to raise capital. Could its business in India be the next asset to be sold?
The German bank is considering selling its retail business in India as part of a series of asset disposals to bolster capital, «Bloomberg» reported on Wednesday, citing sources.
The move wouldn't be without precedent: Deutsche sold an Indian mortgage business it acquired through Postbank seven years ago. In 2015, the Frankfurt-based bank sold its asset management unit in India as well.
The bank has slated its wider asset management unit for a partial listing as part of a revamp under CEO John Cryan, a former UBS Warburg banker who is well-versed in selling financial assets.
$350 Million Profit
More than 11,000 employees work for Deutsche Bank in India, where the firm offers retail and wholesale banking, investment banking and wealth management to wealthy individuals.
The Indian business recorded $10.5 billion in assets at the end of its last fiscal year, and notched more than $350 million in profits. Deutsche Bank didn't comment on the report.
