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Deutsche Bank weighs sale of online bank Norisbank - source

Reuters
·1-min read
FILE PHOTO: The logo of Deutsche Bank is pictured on a company's office in London

FRANKFURT (Reuters) - Deutsche Bank <DBKGn.DE> is weighing the sale of its German online bank Norisbank, a person with knowledge of the matter said on Thursday.

Deutsche Bank is in the midst of an overhaul that includes streamlining operations, exiting some business lines and shedding 18,000 staff.

A final decision has not been made, the person said, adding that a full integration of the bank is also possible.

Norisbank is a 100% subsidiary based in the former German capital of Bonn with 550,000 customers. Deutsche Bank acquired it in 2006 for 420 million euros(371.65 million pounds) from DZ Bank.

Business magazine WirtschaftsWoche first reported the possible sale.

(Reporting by Patricia Uhlig; Writing by Tom Sims; Editing by Sabine Wollrab and Thomas Seythal)