Postbank reduces branch count while introducing advisory centers.

German Bank Under Scrutiny for Money-Laundering Allegations - Postbank reduces branch count while introducing advisory centers.

Deutsche Bank intends to implement partial branch closures at Postbank by establishing regional advisory centers. These centers will allow customers to access financial information through telephone or video conferencing outside of regular business hours and on Saturdays. "We aim to substantially transform Postbank's market entry model from a predominantly branch-based one to one in which the customer chooses their preferred channels," stated Lars Stoy, head of the private customer bank in Germany at Deutsche Bank, according to the German Press Agency in Frankfurt.

Deutsche Bank has been operating advisory centers for several years. Postbank teams are set to be integrated at nine locations: Hamburg, Berlin, Essen, Schkeuditz, Wuppertal, Mainz, Mannheim, Nuremberg, and Munich. Additionally, two new standalone Postbank advisory centers are being planned in Hanover and Bonn. By 2025, all eleven Postbank advisory centers will be accessible to customers as this new structure is implemented.

Postbank's branch locations are set to decrease from 550 to 320 by 2026, with 200 of the remaining locations also offering postal services and 120 being dedicated bank branches. "We have ensured that Postbank is well-represented in densely populated areas and in the countryside," said Dominik Hennen, who is in charge of Personal Banking, the comprehensive private client business spanning both Deutsche Bank and Postbank brands. "We can't guarantee representation in every place, but we've ensured that rural areas are also well-covered."

Hennen confirmed that there would be job reductions, although specific figures were not disclosed. Employees from closed branches will be offered roles in the advisory centers. There will be no job cuts until the end of 2027, as stipulated in the most recent Verdi union collective agreement.

Deutsche Bank management and the works councils have agreed upon a more streamlined structure for real estate financing. "The Deutsche Bank has accumulated various units over the years, resulting in a rather complex real estate financing division with three processes, three employee groups, and three versions of how it's handled. We're now consolidating this," stated Stoy.

"In Deutsche Bank, we've operated at a medium-sized number of decentralized locations–for example, the BHW at one location, namely the headquarters in Hameln, and the DSL at 13 branches. This will now be combined into a total of six primary locations, each with subsidiary locations, resulting in around 13 locations in total," Stoy continued.

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1. Despite the money-laundering allegations, Deutsche Bank is still making changes to Postbank, reducing its branch count and introducing advisory centers in cities like Hamburg and Berlin.
2. The new advisory centers in Germany will be accessible through phone or video conferencing, even outside of regular business hours, thanks to Deutsche Bank's plans to transform Postbank's market entry model.
3. Frankfurt am Main's German Press Agency reported that Deutsche Bank aims to reduce Postbank's branch count from 550 to 320 by 2026, with 200 of the remaining locations offering postal services.
4. Postbank's advisory centers will also be established in Mainz, Mannheim, and Munich, among other cities in North Rhine-Westphalia, allowing customers to access financial information more conveniently.
5. Deutsche Bank management and works councils have agreed on a more streamlined structure for real estate financing, consolidating various units to create a less complex real estate financing division.
6. By 2025, Postbank customers will be able to access all eleven advisory centers, including those in Schkeuditz and Wuppertal, as the new structure is implemented gradually.
7. Postbank teams will integrate at nine regional advisory centers, with two new standalone centers being planned in Hanover and Bonn, further expanding the bank's reach in Germany.
8. Despite the branch closures, Deutsche Bank has assured customers that Postbank will still be well-represented in densely populated areas and rural locations, thanks to a more concentrated branch network.
9. Over time, Deutsche Bank will be closing branches, as part of their plan to transform Postbank, leading to job reductions, although specific figures have not been disclosed yet.
10. Employees from closed branches will be offered roles in the new advisory centers, ensuring minimal job losses and adhering to the most recent Verdi union collective agreement.
11. Alongside Deutsche Bank, other major banks in Germany, such as DSL and BHW, are also consolidating their operations, following similar trends in streamlining their branch networks and services to better serve customers in the digital age.

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