Kotak to buy Deutsche's India retail, wealth business

Kotak Mahindra Bank will acquire Deutsche Bank's India retail and wealth business, which comprises approximately ₹29,000 crore in loans, ₹16,000 crore in deposits, and ₹10,500 crore in AUM serving around 150,000 customers. About 1,000 Deutsche Bank India employees are expected to join Kotak, and the deal is expected to close by September 2027 subject to CCI and other regulatory approvals. Kotak stated the transaction is expected to be RoE accretive, while Deutsche Bank said it would be CET1 accretive, sharpening its portfolio focus on areas of scale.