FRANKFURT, Germany, Aug. 4 (UPI) -- Germany's biggest bank, Deutsche Bank, will pay $537.2 million to Norisbank, a national retail bank, for nearly 100 branches.
Deutsche Bank is buying the properties from DZ Bank, which holds a 90 percent stake in the branches, the Financial Times reported Friday. Overall, Deutsche Bank will take on 98 branches serving about 334,000 customers.
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The acquisition addresses complaints that Deutsche Bank has been neglecting its domestic and retail businesses.