CCI approves Kotak Bank's acquisition of Deutsche India retail assets

The Competition Commission of India recently approved Kotak Mahindra Bank’s acquisition of Deutsche Bank Aktiengesellschaft’s retail, private banking and wealth management business, that the German bank had built through its branches in India.

The parties may also enter into referral arrangements under which Deutsche Investments refers customers of its investment advisory and portfolio management businesses to Kotak Mahindra Bank’s wholly owned subsidiaries.

Within retail and private banking, Deutsche provides a range of products across deposits, lending, investments, insurance, and foreign exchange. The wealth management business focuses on providing services to high-net-worth individuals.

Kotak had first announced the execution of a business transfer agreement in a note to investors on 30 June 2026. The total Purchase Price1 for the acquisition of the was about ₹281.7 crore, subject to adjustments in accordance with terms and conditions.

“The acquisition is aligned with Kotak’s strategy to build a scaled and customer centric affluent and SME banking franchise, bringing together a well-established customer base and experienced teams,” the bank had said.

As of 31 March 2026, Deutsche’s Business Undertaking’s advances outstanding were approximately ₹29,000 crore and total deposits were approximately ₹16,000 crore.