Deutsche Bank would like to make a U turn on Postbank

Deutsche Bank may soon reintegrate Postbank, the Bonn-based institute bought in several steps from 2008 for a total of €6 billion and then placed on the market. This was revealed by the Sueddeutsche Zeitung, citing information gathered in financial circles.
Sources said no serious buyers emerged after Deutsche Bank put the unit up for sale and that a potential listing of Postbank also would be difficult in the current market environment.

The project provides for the merger of Postbank with the retail segment of Deutsche Bank, "to simplify a lot of things from a regulatory point of view," cites the Sueddeutsche, reporting the opinion of an insider, according to whom, the project is named "Deutschland AG".

"If Deutsche Bank were to really keep Postbank, it would be a great new change in strategy," concludes the daily Monaco, "accompanied by a further reduction of jobs."

CEO Deutsche Bank John Cryan told investors in May that he is weighing “creative” solutions to exit the Postbank business, with plans for an initial public offering on hold. Deutsche Bank and Postbank declined to comment.

Postbank had €148 billion in assets as of end-June and posted a net profit of €141 million in the first half of 2016. It currently employs almost 19,000 staff.