FRANKFURT: Germany's biggest lender Deutsche Bank on Friday said it would sell its Argentine subsidiary to local Banco Comafi as part of its strategy plan to streamline business abroad.
The sale of the unit, which employs 86 people, is expected to close in the first half of 2017, Deutsche Bank said in a statement, adding that government, corporate and institutional clients in Argentina would continue to be served via the bank's regional and global locations.
As part of its Strategy 2020, the lender aims to become more efficient and cuts down its business abroad.
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