Announced Tue, 30 Jun · 17:15 IST
Kotak Bank to buy Deutsche Bank India retail, wealth business for Rs 281.7 cr
KOTAKBANK · price
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Price reaction · full curve 14 horizons · vs prior close
+0.7%1-day move
₹396.00
prior close
₹397.35
base price
After-mkt
timing
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AI summary
Kotak Mahindra Bank will acquire Deutsche Bank AG's retail, private banking and wealth management business in India on a slump sale basis for about Rs 281.7 crore in cash. The acquired business has about Rs 29,000 crore advances, Rs 16,000 crore deposits, Rs 10,500 crore AUM, 16 branches and 150,000 customers. About 1,000 employees will move to Kotak. Expected to close by September 2027 subject to CCI and other regulatory approvals.
Likely market impact
Strengthens Kotak's affluent, private banking and wealth franchise; deal is expected to be ROE accretive. Closes by Sep 2027.