The business being acquired comprises approximately Rs 29,000 crore in loans, Rs 16,000 crore in deposits, and Rs 10,500 crore in assets under management. It serves nearly 1.5 lakh customers and is supported by a workforce of around 1,000 employees.
The acquisition is expected to be completed by September 2027, subject to regulatory approvals, including clearance from the Competition Commission of India, along with the fulfilment of other customary conditions.
As part of the transaction, approximately 1,000 Deutsche Bank employees in India are expected to join Kotak Mahindra Bank. Both institutions stated that they will work closely to ensure uninterrupted services for customers throughout the transition period and after the completion of the deal.
Kotak Mahindra Bank said the acquisition aligns with its strategic focus on affluent customers and small and medium enterprise clients. Ashok Vaswani, Managing Director and Chief Executive Officer of Kotak Mahindra Bank, described the transaction as an opportunity to acquire a high-quality customer franchise and experienced teams while adding greater scale and creating opportunities in adjacent business segments.
Vaswani said the bank’s priority would be disciplined integration, seamless continuity for customers, and strengthening capabilities across the acquired business.
For Deutsche Bank, the transaction forms part of its Global Hausbank strategy, under which the German lender is simplifying its operations and concentrating on business segments where it enjoys greater scale and competitive strength.
Kaushik Shaparia, Chief Executive Officer of Deutsche Bank Group India and Emerging Asia, said the transaction represents another step in sharpening Deutsche Bank’s business portfolio. He added that India continues to remain a core market for the bank, supported by its corporate banking, investment banking, and asset management businesses through DWS.
Deutsche Bank stated that Kotak Mahindra Bank offers a strong domestic platform to ensure continuity for its onshore private banking and wealth management clients in India. The bank also clarified that its private banking division will continue serving global ultra-high-net-worth clients, including non-resident Indians, outside India.
Upon completion of the transaction, the acquisition is expected to be return-on-equity accretive for Kotak Mahindra Bank and common equity tier-1 accretive for Deutsche Bank.
According to the announcement, Kotak Mahindra Group had 5,581 branches and total assets of Rs 10,03,353 crore as of March 31, 2026.
Deutsche Bank has operated in India for more than 45 years and maintains a presence across key locations, including GIFT City. The bank also stated that more than one-quarter of its global workforce is based in India. Following the completion of the transaction, Deutsche Bank said it will continue to remain the largest European bank operating in India while supporting operations across 48 countries.
The acquisition represents a major strategic milestone for both financial institutions. While Kotak Mahindra Bank will significantly expand its footprint in retail banking and wealth management, Deutsche Bank will sharpen its focus on core global businesses, reinforcing their respective long-term growth strategies in one of the world's fastest-growing financial markets.
About The Author
.jpg)
Comment List