Deutsche Bank obtains 11 bids for India credit card unit

Banking giants ICICI Bank and Standard Chartered are among the 11 interested.

Deutsche Bank AG has received at least 11 bids for its Indian credit card business, the Financial Express reported Monday, citing unnamed banking industry sources.

The newspaper said ICICI Bank Ltd., Karnataka Bank Ltd., Dhanlaxmi Bank Ltd., Yes Bank Ltd. and Standard Chartered Bank were among those expressing interest, according to a report in Market Watch.

Deutsche Bank, which has about 150,000 active cards in India through its credit card business, declined to comment, the newspaper said.

"We have evaluated the portfolios as it gives us ready access to a customer base and is a strategic fit. But we have yet to take a final view because the price is somewhat high," the newspaper quoted Dhanlaxmi Bank's chief executive, Amitabh Chaturvedi, as saying.

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