The move is a part of its restructuring strategy that is aimed at giving a boost to its European retail operation, reported the German daily Handelsblatt.
Reuters quoted Handelsblatt as saying that the bank was also contemplating divesting its 20% stake in the China-based Hua Xia Bank that is valued at $3.6bn.
Deutsche Bank has declined to comment on the matter and termed the exit reports as ‘speculation.’
The bank currently has 17 branches in India.
Handelsblatt also said that its withdrawal from Asia operations might involve pulling out of 12 other small countries.
Deutsche Bank has been experiencing difficult times with its involvement in an investigation regarding foreign exchange rigging. Six other banks had been penalized for their involvement in the scandal and were made to pay $5.6bn.
According to the Press Trust of India (PTI), the bank’s profit per employee was around Rs7.91m and the capital base was Rs94.53bn as of 31 March.
Image: The Deutsche Bank headquarter in Frankfurt. Photo: courtesy of Thomas Wolf.
