Foreign lender, Deutsche Bank is likely to wind up its credit cards business in India. The bank has been found to be in talks with four banks and financial services companies regarding the sell out of the card portfolio. Amongst the banks in discussion, Yes Bank and IndusInd Bank have also been included, as per three personnel having knowledge on the issue.

The current user base of the bank is 3,50,000, mainly belonging to the higher end base, said a senior bank executive. The bank expects a Rs 200 crore valuation of this sell out.

As per a bank official, "Deutsche Bank has no plans to exit from the unsecured lending business in the country. We continue to provide personal loans as well as credit cards to new and existing customers."

According to a known source, Yes Bank and IndusInd Bank have shown interest in buying this portfolio.

Deutsche Bank had started the credit card biz in India from ground level in the year 2005. Losses in this segment have however triggered the bank's decision for a sell out.