Deutsche Bank to keep 500 German retail branches

April 26, 2015 12:01 AM

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FRANKFURT, April 26 (Reuters) - Deutsche Bank is to keep about 500 of its retail bank branches in Germany as well as its outlets in Spain and Italy in a global restructuring, German weekly Welt am Sonntag reported, citing financial sources.

Germany's biggest lender said on Friday it planned to cut back investment banking, sell its Postbank retail chain via a public share offering and reduce costs in a bid to boost profits. No details of an overhaul, which is expected to be difficult, were to be revealed before Monday.

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