Deutsche Bank has initiated the process of divesting its retail banking operations in India, reported Reuters, citing sources familiar with the matter.

The bank has reached out to both domestic and international financial institutions to solicit bids for its retail assets, marking a move as it joins other foreign banks in reassessing their presence in the Indian market.

The bank’s retail division in India operates across 17 branches.

A spokesperson for Deutsche Bank stated that the institution does not “comment on rumours or market speculation.”

The deadline for non-binding bids has been set for 29 August, although details regarding the bids and the valuation of the retail business remain undisclosed.

The bank previously attempted to sell its retail and wealth management business in India in 2017, but the plan was ultimately abandoned.

Deutsche Bank has maintained a presence in India since the 1980s, providing a range of services including treasury, derivatives, private wealth management, and retail banking.

Its retail banking revenue in India was reported at $278.3m for the financial year ending March 2025.

The bank reported $1bn in net revenue from its Indian operations in 2024, with employee numbers exceeding 22,000.

Despite the increasing number of affluent individuals in India, foreign banks have faced challenges in enhancing their revenue streams due to intense competition from local banks and regulatory hurdles.

Previous attempts by other banks to exit the Indian retail sector include Citibank’s sale of its credit card and retail businesses in 2022 for over $1bn and Standard Chartered’s divestment of its personal loan portfolio to Kotak Mahindra Bank.