Postbank significantly trimming down its branch network by the year's end

Postbank, a subsidiary of Deutsche Bank, is currently undergoing a branch closure program, with the aim of reducing its number of locations from 230 to around 175 by the end of 2025. However, according to Dominik Hennen, the manager responsible for the broad retail business of Deutsche Bank and Postbank in Germany, the bank is not losing customers nor revenue in the overall result due to this growth in other areas.

The revenue loss for Postbank due to branch closures is a low single-digit million amount. This is largely offset by the bank's customer acquisition efforts, such as the successful last day-to-day money campaign, which resulted in approximately 60,000 new customers.

The implementation of the branch closure program is progressing at a rate of around 70%, with Postbank already completing 161 out of 230 planned branch closures. Despite this, Postbank is experiencing a similar or lower customer loss during the current branch closure wave compared to previous ones. This suggests that the bank's customers are adapting to the changes and continuing to use its services.

The manager responsible for Postbank, Lars Stoy, led the Privatkundenbank Deutschland at Deutsche Bank since May 2021 and had significant leadership roles at Postbank, including being its board member from 2017 to 2018. He, like Hennen, sees no negative economic consequences for Postbank so far due to branch closures. The overall customer and revenue situation for Postbank remains stable.

The reduction program at Postbank is scheduled to be fully implemented by early 2027, with the completion of the branch closure program expected by the same time. Postbank's customer base is growing in other areas, as suggested by the gain of around 60,000 customers. This growth in other areas is a positive development, as it mitigates potential losses due to branch closures.

In conclusion, Postbank is not only managing to stay stable during its branch closure program but is also growing in other areas. This growth, combined with the bank's successful customer acquisition campaigns, is ensuring that Postbank remains a viable and competitive player in the banking sector.