At the end of last year, the institute issued residential real estate loans totaling 182 billion euros.
(Photo: AP)
Frankfurt Deutsche Bank is streamlining its mortgage lending business. The three group brands DSL, BHW and Deutsche Bank are to be managed uniformly in the future, the Handelsblatt learned from business circles. Among other things, processes should be harmonized and duplication of work reduced.
The reorganization would eliminate several hundred jobs in the mortgage lending business, said people familiar with the topic. The downsizing is to take place primarily through natural fluctuation and the relocation of employees to other areas of the bank.
According to company circles, details still have to be determined in negotiations with the employee representatives. In total, the German private customer division of the institute currently employs a good 17,000 people.
A spokesman for Germany’s largest financial institution confirmed the conversion plans in principle. “Digitization, the turnaround in interest rates and inflation have fundamentally changed the mortgage lending market,” he said. “We have therefore further developed our construction financing strategy and will make our business field more efficient, faster and therefore also more cost-effective.”
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