Deutsche Bank mulls selling activities in China, India: report

Deutsche Bank mulls selling activities in China, India: report
by Staff Writers
Frankfurt (AFP) Aug 19, 2015

Deutsche Bank, Germany's biggest lender, is considering selling its stake in Chinese group Hua Xia Bank and divesting its retail banking activities in India, the business daily Handelsblatt reported on Wednesday.

Deutsche Bank spent a total 1.3 billion euros ($1.4 billion) in amassing a stake of nearly 20 percent in Hua Xia Bank between 2006 and 2010, the newspaper said.

At current prices, that stake is now worth around 3.3 billion euros, but no formal decision to sell it has been taken at this stage, Handelsblatt said.

Deutsche Bank, which unveiled a massive restructuring plan at the end of April, is also considering selling its retail activities in India, where it currently has 17 branches, the newspaper added.

Contacted by AFP, a company spokesman said Deutsche Bank would not comment on "speculation".

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