Best guess from me would be the holster is a late WWII German holster for a Walther model 8.
Remember that the Model 8 was kept in production thru 1943 in high polish form for the General Officers Corps,
long after any high polish finish PPs and PPKs were made and the other numbered models that were dropped from the line.
That might explain the pebble grain (Mid-war and later) leather.
Does look as if the top portion of the spare magazine pouch was cut away.
For speed reloads? LOL
It looks like the trigger guard (of the pistol that the holster was designed for) would fit right at the bulge that we see behind the lower end of the securing strap. So that means that the suspect pistol would have a slide that was at least an inch longer.
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