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Informist, Tuesday, Jun. 30, 2026

 

--Kotak Bank to acquire Deutsche Bk's retail, pvt banking business in India 

--Kotak Bank to acquire Deutsche Bank's business on slump sale basis 

--Kotak Bank to acquire Deutsche Bank's business in India for INR 2.82 bln 

 

MUMBAI – Kotak Mahindra Bank has acquired Deutshe Bank's retail banking, private banking, and wealth management business in India for INR 2.82 billion Tuesday, the lender said in an exchange filing. The business being acquired on a slump sale basis comprises advances outstanding of INR 290 billion and total deposits of INR 160 billion, according to the exchange filing. 

 

"This transaction aligns well with our focus on the affluent and SME (small and medium enterprises) segments," Ashok Vaswani, managing director and chief executive officer at Kotak Mahindra Bank said in a note. "It also brings a high-quality customer franchise and experienced teams and adds incremental scale and adjacency opportunities." 

 

The acquisition is expected to close in September, subject to applicable regulatory approvals, including those from the Competition Commission of India and other customary conditions precedent, according to a press release by Kotak Mahindra Bank. Approximately 1,000 Deutsche Bank employees in India are expected to join Kotak as part of the transaction.

 

"This transaction marks an important step in sharpening Deutsche Bank's portfolio and focusing on areas where we have scale, strength, and the ability to deliver sustained returns," Kaushik Shaparia, chief executive officer at Deutsche Bank Group India and emerging Asia said in a note. "We believe Kotak Mahindra Bank provides a strong domestic platform to ensure long-term continuity for our onshore private banking and wealth clients, while creating meaningful growth opportunities for our employees."

 

For the March quarter, Kotak Mahindra Bank had reported a net profit of INR 40.27 billion and total income of INR 172.91 billion. Tuesday, its shares closed at INR 392.25 apiece on the National Stock Exchange, down 0.8% from Monday.  End

 

Reported by J. Navya Sruthi

Edited by Deepshikha Bhardwaj

 

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