Deutsche Bank's sale of its retail banking unit, Postbank, faces delays, with only a part of the business expected to be sold in a share flotation this year, with reports adding that the bank has given up hope of being able to de-consolidate Postbank this year, which would require selling at least 50% of its stake in the lender. The German lender said it had been unable to find buyers for Postbank's remaining assets, including branches and other assets.
Deutsche Bank's sale of its retail banking unit, Postbank, faces delays, with only a part of the business expected to be sold in a share flotation this year, with reports adding that the bank has given up hope of being able to de-consolidate Postbank this year, which would require selling at least 50% of its stake in the lender. Deutsche Bank's initial plan was an IPO for Postbank, however, reports suggest that the bank would now prefer to sell Postbank to a competitor as it may fetch a higher price than a sale of shares.