Kotak Mahindra Bank to Acquire Deutsche Bank's Retail and Wealth Management Business in India

Kotak Mahindra Bank has announced its acquisition of Deutsche Bank's retail banking and wealth management operations in India. This strategic move involves significant assets and aims to enhance service continuity for customers. With approximately 1,000 employees expected to transition to Kotak, the bank is focused on integrating these new resources while expanding its affluent and SME market segments. The deal is anticipated to close by September 2027, pending regulatory approvals. This acquisition not only strengthens Kotak's market position but also promises to bring a high-quality customer base and experienced teams into its fold.

By Narendra Chaudhary Jun 30, 2026, 20:04 IST

Acquisition Details

Kotak Mahindra Bank has announced its intention to acquire the retail banking, affluent private banking, and wealth management divisions of Deutsche Bank in India, as stated in a recent announcement. This acquisition involves Deutsche Bank's portfolio, which includes approximately Rs 29,000 crore (around Euro 2.7 billion) in loans, Rs 16,000 crore (approximately Euro 1.5 billion) in deposits, and Rs 10,500 crore (about Euro 1.0 billion) in assets under management. The business serves roughly 150,000 clients and is supported by a workforce of around 1,000 employees.

Both institutions are committed to ensuring a seamless transition for customers during and after the acquisition process. As part of this deal, it is anticipated that about 1,000 employees from Deutsche Bank in India will transition to Kotak, highlighting the emphasis both banks place on maintaining service continuity and providing long-term career opportunities for staff.

The completion of this acquisition, which includes the onboarding of customer relationships, employees, and related products, is projected for September 2027, pending necessary regulatory approvals, including those from the Competition Commission of India, and other standard conditions.

Ashok Vaswani, the Managing Director and CEO of Kotak Mahindra Bank, remarked, “This acquisition is well-aligned with our strategy focusing on affluent and SME segments. It represents a significant strategic fit and is commercially advantageous. Additionally, it enhances our customer base and brings in experienced teams, creating further growth opportunities. We eagerly anticipate welcoming these new customers and colleagues into the Kotak family, prioritizing a smooth integration while enhancing our capabilities in this sector.”