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Bloomberg
Deutsche Bank AG has called off talks to sell its retail and private wealth businesses in India to IndusInd Bank Ltd., people with knowledge of the matter said.
The German lender is considering keeping the operations after former Chief Executive Officer John Cryan stepped down this month, the people said, asking not to be identified because the information is private. The two businesses have a portfolio size of about 300 billion rupees ($4.6 billion), according to one of the people.
Deutsche Bank is now considering increasing its investment in India, another person said. Bloomberg News reported Deutsche Bank’s plans to sell the units in January, which was part of a move to focus more on its home market.
If new CEO Christian Sewing — who managed Deutsche Bank’s consumer banking operations — does invest more in India, he would be revising a five-year turnaround plan unveiled by Cryan in late 2015.