Deutsche Bank in talks to sell IT unit as it trims staff: Sources

Deutsche Bank in talks to sell IT unit as it trims staff: Sources

Germany's Deutsche Bank is in talks to sell IT services division Postbank Systems, people with knowledge of the matter said on Thursday.

Germany's Deutsche Bank headquarters are pictured in Frankfurt
FILE PHOTO: The headquarters of Germany's Deutsche Bank are pictured in Frankfurt, Germany, Sep 21, 2020. (REUTERS/Ralph Orlowski/File photo)

FRANKFURT: Germany's Deutsche Bank is in talks to sell IT services division Postbank Systems, people with knowledge of the matter said on Thursday (Oct 22).

A potential buyer is India's Tata Consultancy Services, the people said.

Postbank Systems has around 1,400 employees, mainly in the German city of Bonn. A sale would help Deutsche reach its goal of shedding 18,000 staff overall to cut costs and restore profitability.

Bloomberg News first reported the development.

Deutsche Bank and TCS declined to comment.

Source: Reuters/kv

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