Deutsche Bank is set to implement substantial reductions in its branch network this year, impacting approximately 2,000 jobs.
CEO Christian Sewing outlined the bank’s intentions during a conference, stating, “We will again significantly reduce our branches as planned.” Last year, the bank closed 125 locations and is now set to shut down both Deutsche Bank and Postbank branches.
The decision to close branches stems from evolving customer preferences, with many opting for remote advisory services due to their convenience and extended consultation hours. In response, Deutsche Bank has been enhancing its telephone and video channels to deliver personalized advisory services. Concurrently, several branches are being transformed into private banking centers focused on serving affluent clients.