Deutsche Bank plans to expand its offering to the mass affluent market in the Germany with the announcement last week of the acquisition of ...

Deutsche Bank plans to expand its offering to the mass affluent market in the Germany with the announcement last week of the acquisition of Norisbank, a German retail bank. Deutsche paid €420 million ($537 million) for the Nuremberg-based bank and gets in return 334,000 clients and 98 branches. “This transaction underscores our readiness to make acquisitions in the highly competitive German market if they match with our overall strategic concept,” said Josef Ackermann, the chief executive of Deutsche. “Our private client business is an important revenue pillar.” In June, Deutsche bought Berliner Bank in another move to expand its wealth management and retail banking operations throughout Germany.