Deutsche Bank sells off Argentine unit to local rival

viernes 26 de agosto de 2016 19:06 GYT
 

FRANKFURT Aug 27 (Reuters) - Germany's biggest lender Deutsche Bank on Friday said it would sell its Argentine subsidiary to local Banco Comafi as part of its strategy plan to streamline business abroad.

The sale of the unit, which employs 86 people, is expected to close in the first half of 2017, Deutsche Bank said in a statement, adding that government, corporate and institutional clients in Argentina would continue to be served via the bank's regional and global locations.

As part of its Strategy 2020, the lender aims to become more efficient and cuts down its business abroad. (Reporting by Tina Bellon; Editing by Sandra Maler)