Kotak Mahindra Bank has secured approval from the Competition Commission of India (CCI) to acquire Deutsche Bank’s retail banking, private banking and wealth management businesses in India, clearing a key regulatory hurdle for the transaction.
In a post on X on Tuesday, the competition regulator said it had approved Kotak Mahindra Bank’s acquisition of certain businesses of Deutsche Bank Aktiengesellschaft, along with related transactions.
Kotak Mahindra Bank signed an agreement in June to buy the German lender’s consumer banking business in India for about ₹281.7 crore in cash through a slump sale, a transaction in which a business is transferred as a whole rather than through the sale of individual assets.
As of March 31, 2026, the business had about ₹29,000 crore in outstanding advances and ₹16,000 crore in deposits.
The purchase consideration of ₹281.7 crore is subject to adjustments under the agreement. Kotak will separately pay the net funding position — the value of assets less liabilities — at the time of closing.
The transaction includes Deutsche Bank’s retail banking, private banking and wealth management operations in India. It remains subject to other regulatory approvals and conditions set out in the agreement.
Deutsche Bank announced the sale in June as part of its efforts to simplify its business and redeploy capital.
Shares of Kotak Mahindra Bank closed 1.37% higher at ₹464.65 on the NSE on November 3, gaining ₹6.30 during the session.
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