Postbank Accelerates Branch Closure Program, Maintains Customer Base and Revenue
The Postbank is on track to complete approximately three-quarters of its planned branch closures by the end of 2025, according to Dominik Hennen, a Deutsche Bank manager responsible for the private customer business of Deutsche Bank and Postbank in Germany. To date, 161 of the 230 planned closures have been executed, with the total expected to reach around 175 locations by the end of the year. The full restructuring program is slated for completion by early 2027.
Hennen stated that the branch consolidation has not resulted in discernible negative economic repercussions for the Postbank. “We have scarcely lost any earnings through the branch closures” he noted, quantifying the impact as a single-digit million-euro figure.
Contrary to expectations, the Postbank is experiencing customer attrition at a rate comparable to, or even lower than, previous rounds of branch closures. Simultaneously, the bank is attracting new customers, bolstered by successful campaigns such as a recent time deposit initiative which garnered approximately 60,000 new accounts.
“Overall, we are growing in other areas, so we’ are not losing customers or revenue” Hennen concluded.
