Kotak Mahindra Bank Limited executed a business transfer agreement with Deutsche Bank AG\u2019s India retail banking, private banking and wealth management business on June 30, 2026. The acquisition will be completed as a going concern on a slump sale basis with a cash consideration of Rs 281.7 crore, subject to adjustments.
As of March 31, 2026, the Business Undertaking held advances of Rs 29,000 crore and deposits of Rs 16,000 crore. Gross revenue of Deutsche Bank AG India branches for FY23, FY24 and FY25 was Rs 8,994 crore, Rs 11,234 crore and Rs 12,415 crore respectively.
The transaction requires approvals from the Competition Commission of India, National Securities Depository Limited, Central Depository Services (India) Limited and other regulatory bodies. The deal is expected to close by September 2027, subject to customary conditions precedent.
Kotak Mahindra Asset Management Company and Kotak Alternate Asset Managers have signed non‑binding term sheets to manage Deutsche Investments India’s client portfolios. Kotak Bank will disclose details upon signing of definitive agreements.
The acquisition aligns with Kotak’s strategy to expand its affluent and SME banking franchise. The Business Undertaking serves around 150,000 customers through a team of about 1,000 employees.
Deutsche Bank’s India branch will remain the largest European bank in the country after the transaction. The deal is projected to be ROE‑accretive for Kotak Bank and CET1‑accretive for Deutsche Bank.
Disclaimer: This article is based on company filings submitted to the Bombay Stock Exchange (BSE) and National Stock Exchange of India (NSE) and is for informational purposes only. It does not constitute investment advice or a recommendation. Investors should conduct their own research and consult a qualified financial advisor before making investment decisions.