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Deutsche Bank shelves $4.6-bn India portfolio sale to IndusInd: Sources

The bank's new CEO, Christian Sewing, and retail head Frank Strauss decided that Deutsche Bank didn't get a price that justified selling the profitable unit

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Deutsche Bank

George Smith Alexander Anto Antony & Steven Arons | Bloomberg  |  Frankfurt 

Deutsche Bank AG called off talks to sell its retail and private wealth businesses in India to IndusInd Bank Ltd., people with knowledge of the matter said. The sale was a project initiated under former Chief Executive Officer John Cryan, and Deutsche Bank is reconsidering the deal following his departure earlier this month, the people said, asking not to be identified because the information is private.

The two businesses have about 300 billion rupees ($4.6 billion) in assets, according to one of the people. The bank’s new CEO, Christian Sewing, and retail head Frank ...

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First Published: Tue, April 17 2018. 20:47 IST
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