Athira Sethu
Kochi, 2 July 2026
Kotak Mahindra Bank has chosen to acquire Deutsche Bank’s business in India. The transaction involves an amount of Rs 282 crores. The news about this acquisition was released on June 30th.
Under this acquisition, Kotak Mahindra Bank will gain control of Deutsche Bank’s retail banking, private banking and wealth management business operations in India. This implies that Kotak will inherit numerous customers, employees, loans, deposits, and investments.
The business involves loans worth Rs 29,000 crores, Rs 16,000 crores deposits, and Rs 10,500 crores in assets under management. About 1.5 lakh customers are involved in these operations.
Almost 1,000 Deutsche Bank’s employees in India are supposed to join Kotak Mahindra Bank following the completion of this acquisition.
It is expected that this transaction will be completed by September 2027. Until then, it requires the approval of Competition Commission of India and other regulatory bodies.
However, both institutions agreed that they will collaborate to ensure that their customers experience little or no disruption at all.
The acquisition was stated to facilitate the growth strategy of Kotak Mahindra Bank. It intends to reach out to more high net worth individuals as well as more small and medium enterprises.
Ashok Vaswani, who is the Managing Director and Chief Executive Officer of Kotak Mahindra Bank, stated that the transaction will bring seasoned personnel as well as a valuable customer base. He added that the bank will ensure to integrate the two companies seamlessly while providing excellent service to its clients.
On its part, this divestment is part of Deutsche Bank’s global strategy. In this regard, it seeks to focus on its strength.
Kaushik Shaparia, who is the CEO of Deutsche Bank Group India and Emerging Asia, affirmed that India will remain to be one of the most strategic markets for the bank. The bank will continue to provide its corporate banking, investment banking and asset management solutions in the country. Furthermore, Deutsche Bank will continue to offer solutions to the ultra-high net worth individuals globally, especially the non-resident Indians.
As on March 31, 2026, the Kotak Mahindra Group operates 5,581 branches and total assets of more than Rs 10 lakh crore.
The Deutsche Bank has been operating in India for more than 45 years. The bank operates its offices at several cities, including GIFT City. Also, Deutsche Bank said that over one-fourth of its global work
