Deutsche Bank to sell its Polish Private & Commercial Bank business to Bank Zachodni WBK

Deutsche Bank press release --------- Deutsche Bank AG (XETRA: DBKGn.DE / NYSE:) announced today that it has entered into an agreement to sell its local Private & Commercial Banking business in Poland, together with DB Securities S.A., to Bank Zachodni WBK S.A. The retail mortgage portfolio denominated in foreign currency is excluded from the transaction. The transaction is in line with the Bank’s effort to continue to sharpen its focus and reduce complexity. BZ WBK is part of the Santander Group, with Banco Santander S.A. being its parent company. The transaction remains subject to all the required approvals of the Polish FSA, other regulatory approvals, corporate consents and other conditions. The parties are aiming for a finalization of the transaction in Q4 2018. To learn more click on the picture below to read the release.