Finance: Almost half of Postbank branches are to close

Postbank customers have to be prepared for significant cuts in the branch network.

Finance: Almost half of Postbank branches are to close

Postbank customers have to be prepared for significant cuts in the branch network. Deutsche Bank wants to close up to 250 of the current 550 Postbank branches at its subsidiary in the next two years, as the private customer boss of the Frankfurt Dax Group, Claudio de Sanctis, announced on Monday in the "Financial Times".

When asked, a Deutsche Bank spokesman explained: "Stationary sales channels continue to play an important role in personal advice, but no longer to the same extent in the medium term. Deutsche Bank therefore plans to adapt the Postbank branch network to changing demand in the coming years and to gradually reduce the number of nationwide locations from currently around 550 to around 300 by mid-2026." Postal and parcel services will continue to be offered in around 200 of these locations.

Discussions with employee representatives soon

According to the plans, the remaining Postbank branches will provide services for customers as so-called tech centers. De Sanctis did not say whether and how many jobs will be lost as a result of the branch closures. The planned restructuring will result in "very significant cost savings and these should more than offset the investments we need to make," the manager said.

The Deutsche Bank spokesman announced: "All measures will soon be negotiated with the responsible employee representatives. The final numbers and locations will also be determined in these discussions."

According to the “FT” report, Deutsche Bank’s branch network, which currently has around 400 locations in Germany, is also being put to the test. However, insiders do not expect any major cuts there.

NEXT NEWS