Kotak Mahindra Bank to Acquire Deutsche Bank India Retail Business

Kotak Mahindra Bank Limited (Kotak Bank) has entered into a business transfer agreement (BTA) with Deutsche Bank Aktiengesellschaft (DBAG) to acquire its retail banking, private banking, and wealth management business in India. The acquisition, to be completed on a slump sale basis, is subject to requisite approvals. As of March 31, 2026, the acquired business had outstanding advances of approximately ₹29,000 crore and total deposits of approximately ₹16,000 crore. The transaction is expected to be completed by September 2027, pending approvals from the Competition Commission of India and other regulatory bodies. This move aligns with Kotak's strategy to enhance its affluent and SME banking franchise.