Deutsche Bank is planning to offload its stake in Hua Xia Bank, and divest its retail banking operations in India, reported business daily Handelsblatt.

The bank had invested €1.3bn to amass a stake of about 20% in the Chinese group between 2006 and 2010.

It has not yet taken any formal decision on the sale of the stake, which according to current estimates is valued at about €3.3bn.

At the same time, the German banking group is also mulling sale of its Indian retail activities, where it currently operates with 17 branches.