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Deutsche Bank in talks to sell Postbank IT unit

Deutsche Bank in talks to sell Postbank IT unit

Deutsche bank is reportedly in talks with Tats Consultancy Services over the sale of its Postbank IT systems unit and the transfer of 1400 staff to the Indian conglomerate.

Citing people with knowledge of the matter, Bloomberg says a deal with TCS could be wrapped up by the end of the year.

The offloading of PBS would go some way to reaching Deutsche Bank's goal of cutting 18,000 jobs under a mammoth restructuring programme currently underway at the German lender.

Deutsche Bank is currently merging Postbank's IT systems with its own as part of an integration effort that it expected to contribute the lion's share of €1 billion in cost savings targeted by the German bank.

PB Systems, which provides IT systems to Postbank, generated €533 million in revenue in 2015, according to its latest available annual report.

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