The Competition Commission of India has approved Kotak Mahindra Bank’s proposed acquisition of Deutsche Bank’s retail banking, private banking and wealth management businesses in India. The businesses include around ₹29,000 crore in loans and ₹16,000 crore in deposits.
New Delhi, November 4 — Kotak Mahindra Bank has received approval from the Competition Commission of India (CCI) to acquire Deutsche Bank’s retail banking, private banking and wealth management businesses in India.
The transaction will transfer the German lender’s customer-facing businesses operated through its Indian branches to Kotak Mahindra Bank.
According to the CCI, the proposed combination involves the acquisition of Deutsche Bank’s retail banking, private banking and wealth management business in the country.
The transaction will be carried out as a going concern on a slump-sale basis by Kotak Mahindra Bank.
The deal also includes referral arrangements between affiliates of the two banking groups.
Under these arrangements, customers of Deutsche Investments India Pvt Ltd’s investment advisory and portfolio management services businesses will be referred to relevant wholly owned subsidiaries of Kotak Mahindra Bank.
Deutsche Investments India is an indirect wholly owned subsidiary of Deutsche Bank.
Kotak Mahindra Bank and Deutsche Bank AG had announced their definitive agreement for the transaction in June.
The businesses being acquired comprise approximately ₹29,000 crore in loans, ₹16,000 crore in deposits and ₹10,500 crore in assets under management (AUM).
The acquisition therefore represents a significant expansion opportunity for Kotak in India’s retail, affluent private banking and wealth management segments.
Established in 1985, Kotak Mahindra Group is one of India’s leading diversified financial services groups.
As of March 31, 2026, the group had total assets of approximately ₹10.03 lakh crore.
Deutsche Bank, meanwhile, is Germany’s leading bank and maintains operations across Europe as well as a significant presence in the Americas and Asia-Pacific region.
The CCI reviews transactions that cross specified thresholds to ensure mergers and acquisitions do not adversely affect competition in the Indian market.
With the competition regulator’s approval secured, the proposed deal has cleared an important regulatory step.
The acquisition would strengthen Kotak Mahindra Bank’s customer base and expand its presence in the premium banking and wealth-management market through the addition of Deutsche Bank’s India portfolio.
