Deutsche Bank has reopened nearly half of the branches it shuttered temporarily due to the spread of novel coronavirus (Covid-19), Bloomberg has reported.
The German banking has decided to reopen 80 of its 200 branches it shuttered back in March as it believes that the virus spread in the country has peaked.
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Citing a bank memo, the report said the Frankfurt-based bank will assess the first round of reopening and open the remaining branches depending on the outcome.
In the memo, the bank said: “Retail sales are picking up in all federal states, client demand for our services is increasing also as a result of the first easing of restrictions, and the personnel situation is stable.
“That is why we’re gradually opening the temporarily closed branches.”
The move follows as Germany plans to ease Covid-19 lockdown and accelerate its return to normality.
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By GlobalDataGerman Chancellor Angela Merkel presented a roadmap to lift the country out of its lockdown while avoiding the second wave of Covid-19 outbreak.
In a press conference, Merkel said: “We can say today that we have the very first phase of the pandemic behind us. We must be careful that things won’t be derailed.”
According to Bloomberg, the curbs have brought businesses to a halt and the country’s economy is anticipated to shrink by 6.3% in 2020.
