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Deutsche Bank's subsidiary, Postbank, has been undergoing a significant transformation, with some challenges along the way. In a recent migration of its IT systems to Deutsche Bank's infrastructure, Postbank encountered issues that led to costs amounting to several hundred million euros.

Despite these setbacks, Postbank seems to be getting back on track. The restructuring process appears to be running smoothly after initial difficulties, as confirmed by Dominik Hennen, who is responsible for the private customer business and Postbank at Deutsche Bank.

Hennen also announced that Postbank plans to close 175 branches by the end of this year. However, he emphasised that the loss of customers at Postbank is no more or less than in previous closure waves. The loss of revenue due to these branch closures is a low single-digit million amount.

It's worth noting that Postbank has been undergoing a steady branch closure process for the past two years. By the end of this year, the bank will have closed 230 branches in total.

In addition to the Postbank restructuring, changes are afoot for the entire Deutsche Bank group. The board of Deutsche Bank is set to present a new strategy on November 17 during the capital market day. This strategy could potentially lead to larger restructuring in other divisions of the bank.

The stock of Deutsche Bank (WKN: 514000) has seen a correction in the past week, falling below the 30.00 euro mark. However, the stock remains promising and is currently a recommendation of AKTIONÄR. The 50-day line at 28.46 euros could serve as support for Deutsche Bank's stock.

Another significant development is the migration of the Deutsche Bank app to the cloud, following the migration of Postbank's IT systems. According to Hennen, the migration of the Deutsche Bank app went very well.

It's important to clarify that no information was provided about Postbank losing customers or revenue in the current context. The bank's financial performance, beyond the costs incurred during the IT migration, remains unclear.

In the second quarter of 2024, Postbank incurred a loss due to setting aside funds for a process involving former shareholders. More information about this process is yet to be disclosed.

Despite the challenges and ongoing changes, Postbank appears to be undergoing a more visible transformation compared to other divisions of the company. As the restructuring process continues, it will be interesting to see how Postbank and Deutsche Bank navigate these changes in the coming months.