May 14, 2020 / 11:22 AM / 2 months ago

Deutsche Bank weighs sale of online bank Norisbank: source

FILE PHOTO: The logo of Deutsche Bank is pictured on a company's office in London, Britain July 8, 2019. REUTERS/Simon Dawson

FRANKFURT (Reuters) - Deutsche Bank (DBKGn.DE) is weighing the sale of its German online bank Norisbank, a person with knowledge of the matter said on Thursday.

Deutsche Bank is in the midst of an overhaul that includes streamlining operations, exiting some business lines and shedding 18,000 staff.

A final decision has not been made, the person said, adding that a full integration of the bank is also possible.

Norisbank is a 100% subsidiary based in the former German capital of Bonn with 550,000 customers. Deutsche Bank acquired it in 2006 for 420 million euros ($452.97 million) from DZ Bank.

Business magazine WirtschaftsWoche first reported the possible sale.

Reporting by Patricia Uhlig; Writing by Tom Sims; Editing by Sabine Wollrab and Thomas Seythal

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