M&A

M&A

Kotak Bank to acquire Deutsche Bank’s India retail biz for Rs.282-Cr

BSE Announcement   Mint  

Mumbai-based Kotak Mahindra Bank is to acquire the retail banking, affluent private banking, and wealth management businesses of Deutsche Bank in India for approximately INR 282 crore. The transaction would conclude by September 2027.The acquired business includes approximately 150,000 customers and nearly 1,000 employees and will add INR 29,000 crore in loans, INR 16,000 crore in deposits, and INR 10,500 crore in assets under management to the balance sheet of Kotak Mahindra Bank.Deutsche Bank will continue to operate its corporate bank, investment bank, and other businesses in India.