Deutsche Bank to sell subsidiary in Argentina to Banco Comafi
“The sale of our subsidiary in Argentina is another mark of the progress we have been making towards our Strategy 2020 goal of becoming simpler and more efficient,” said Karl von Rohr, Chief Administrative Officer, at Deutsche Bank who is accountable for the Global Footprint Rationalization Program on the Management Board.
“I am pleased with the progress of the program to date. We are also well on track in executing our footprint rationalization plans in the other countries that were announced in October of last year.”
Sebastian Reynal, Chief Country Officer Argentina, added, “We are committed to serving our government, corporate and institutional clients in Argentina and will continue to remain active as we have been recently.”
The transaction is expected to close in the first half of 2017, subject to regulatory approvals and other customary conditions. Terms of the transaction were not disclosed. ■