Bank / Credit Union

Deutsche Bank in talks to sell Postbank IT

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October 22, 2020

Deutsche Bank is in discussion with Tats Consultancy Services over the possible sale of its Postbank IT systems unit and the transfer of 1,400 staffers to the Indian conglomerate, according to a Finextra report.

In selling PBS, Deutsche Bank would be closer to reaching its goal of trimming 18,000 jobs as part of its restructuring.

Deutsche Bank is currently merging Postbank's IT systems with its own as part of an integration that is expected to contribute the majority of €1 billion ($1.1 billion) in cost savings for the bank, according to the news report.