Deutsche Bank to close 20pc of domestic branches in coronavirus shift

FRANKFURT: Deutsche Bank plans to shutter one in five branches in its home market in Germany as it seeks to save costs and capitalise on the changing habits of customers during the coronavirus pandemic, an executive said.

Philipp Gossow, who oversees the retail banking business in Germany, told Reuters that the reduction to some 400 branches from around 500 currently would occur primarily in urban locations and take place "as quickly as possible".