Kotak Mahindra Bank Gets CCI Nod for Deutsche Bank India Retail Deal
Kotak Mahindra Bank, a private sector lender, announced on Tuesday that it has obtained the Competition Commission of India's (CCI) approval to acquire Deutsche Bank's retail banking, private banking, and wealth management operations in India.
In a regulatory statement, the bank indicated that the acquisition will be finalized once the conditions outlined in the business transfer agreement are met and all pending approvals from statutory or regulatory bodies are obtained.
CCI announced that it has sanctioned the purchase of specific operations of Deutsche Bank Aktiengesellschaft by Kotak Mahindra Bank, along with associated transactions.
"The suggested merger involves the purchase of retail banking, private banking, and wealth management operations of Deutsche Bank Aktiengesellschaft (vendor) carried out via its branches in India (target operations)," CCI stated.
Also Read: Tencent and Cyberlite India Partner to Research Gaming Careers
It stated that the transaction will be executed as a going concern on a slump sale basis by Kotak Mahindra Bank (buyer) from the seller.
The competition regulator additionally stated that the two companies, via their affiliates, are considering establishing referral agreements to redirect Deutsche Investments India's customers in investment advisory and portfolio management services to wholly owned subsidiaries of Kotak Mahindra Bank. It mentioned that Deutsche Investments India is an indirectly fully owned subsidiary of Deutsche Bank.
Also Read: CrowdStrike and Dynatrace Unite to Disrupt Legacy SIEM
On June 30, 2026, Kotak Mahindra Bank announced its intention to acquire Deutsche Bank's retail banking, private banking, and wealth management operations in India.
"The overall Purchase Price for acquiring the Business Undertaking is around Rs 281.7 crore, contingent on adjustments as per the terms and conditions outlined in the BTA (business transfer agreement)," Kotak Mahindra Bank stated.
The bank had said it would pay in cash total purchase consideration of around Rs 281.7 crore and the amount of asset less liabilities as at closing, both subject to agreed contractual adjustments.
Also Read: Motilal Oswal Appoints Suresh Shukla as Wealth Management CEO
The company reported about Rs 29,000 crore (around 2.7 billion euros) in loans, Rs 16,000 crore (approximately 1.5 billion euros) in deposits, and Rs 10,500 crore (nearly 1 billion euros) in assets under management.