Deutsche Bank Is Said to Consider Selling Postbank Leasing Unit
Deutsche Bank Is Said to Consider Selling Postbank Leasing Unit
(Bloomberg) -- Deutsche Bank AG is considering selling its leasing unit as it focuses on its most profitable operations.
The German lender is studying the sale of Bonn-based subsidiary Postbank Leasing GmbH, people familiar with the matter said, asking not to be identified discussing private information. No final decisions have been made and Deutsche Bank could still opt to keep the business.
Deutsche Bank under Chief Executive Officer Christian Sewing is halfway through a turnaround plan that seeks to boost profitability by getting rid of business units that don’t meet internal profitability benchmarks. The lender previously sold its equities trading division, an IT unit, and has studied the sale of a small online-only lender called Norisbank.
Postbank Leasing employed 15 staff and made a profit of 1 million euros in 2019, according to its latest available annual report. It is part of Deutsche Bank’s corporate clients division headed by Stefan Hoops.
A spokesman for Deutsche Bank declined to comment.
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