Postbank accelerates branch closure program, anticipates significant reduction by year-end.
Deutsche Bank’s Dominik Hennen, responsible for the private customer business of Deutsche Bank and Postbank in Germany, confirmed that the bank is on track to close approximately three-quarters of its planned branches by the end of 2025. To date, 161 out of the initially planned 230 closures have been implemented. The complete restructuring program is slated for completion by early 2027.
Despite the branch reductions, Hennen reported no significant adverse economic impact on Postbank. He stated that the closures have resulted in a loss of revenue amounting to only a low single-digit million sum.
Contrary to expectations, Hennen indicated that customer attrition has been minimal, either consistent with or even lower than levels seen during previous closure rounds. Simultaneously, the Postbank is acquiring new clientele, highlighted by the acquisition of approximately 60,000 new customers through a recent savings account campaign. Overall, Hennen asserted that growth in other areas is offsetting any potential losses, ensuring that the bank maintains its customer base and revenue streams.