German banking giant Deutsche Bank has terminated discussions with IndusInd Bank to sell its Indian retail and private wealth businesses, Bloomberg reported.
The German lender is now considering retaining the business after Christian Sewing took over as the group’s new CEO this month. Sewing previously managed the bank’s consumer banking operations.
However, according to the report, a final decision has not yet been taken.
Deutsche Bank, which has been active in India since the beginning of the 1980s, has been considering plans to sell these units as part of its strategy to focus more on its home market.
Deutsche Bank’s retail and private wealth businesses reportedly have a portfolio size of about $4.6bn.
In 2010, Deutsche Bank sold its mortgage business in India and five years later also disposed its asset management arm.
Spokespersons of both Deutsche Bank and IndusInd Bank declined to comment.