Kotak Mahindra Bank to buy Deutsche Bank’s India wealth and retail business
03 Jul 2026, 01:29 PMThe deal is expected to be completed by September 2027, pending regulatory clearance from the Competition Commission of India.
Share the story on
Kotak Mahindra Bank has entered into a definitive agreement to acquire the India-based retail banking, affluent private banking, and wealth management operations of Deutsche Bank for Rs 282 crore.
As part of the transaction, Kotak will take over a portfolio comprising nearly Rs 29,000 crore in loans, Rs 16,000 crore in deposits, and assets under management worth around Rs 10,500 crore.
The acquisition will also bring approximately 1.5 lakh customers and a workforce of about 1,000 employees into Kotak’s fold.
The deal is expected to be completed by September 2027, pending regulatory clearance from the Competition Commission of India.
Commenting on the acquisition, Ashok Vaswani said the business is a strong strategic match that will strengthen Kotak’s customer base, add experienced talent, and create new growth opportunities. He added that the bank will focus on a smooth integration process while maintaining service continuity.
For Deutsche Bank, the divestment is in line with its global “Hausbank” strategy, which aims to streamline operations and concentrate on core areas such as corporate banking, investment banking, global business services, and asset management through DWS.
Deutsche Bank is among several foreign lenders that have scaled back their retail operations in India amid intense competition from domestic banks.
Last year, Kotak Mahindra Bank also said it has acquired personal loan book of Standard Chartered India.
In 2023, Axis Bank completed the acquisition of Citibank India's consumer business for Rs 11,603 crore, taking over its credit cards, retail banking, wealth management and consumer loans, along with around 3,200 employees.
Who Reads Us
“I enjoy reading The Head and Tale for their coverage on the Fintech landscape. The reporting is incisive and honest, and it demonstrates a sharp understanding of the industry and the issues that concern it. I'd like to extend my best wishes to Arti for her continued success.”
“Well-researched, informative and analysis based reporting makes an interesting read. 'The Head and Tale' news portal has been demonstrating this quite well covering fintech and emerging tech sectors. Their timely updates, exclusive stories and different perspectives on these sectors help me stay informed. Kudos to Arti Singh for pursuing her passion and best wishes to the team.”
“The Head and Tale stands out for its deep industry knowledge and impressive network of sources. I especially appreciate that the reporting remains independent, rarely resorting to paid puff pieces, making it a publication I can genuinely trust. Having followed Arti’s work for years, I’ve come to rely on The Head and Tale for its unparalleled insight and truly independent coverage. Arti’s long-standing presence in the sector means her reporting is always informed, with access few can match.”
“What I really appreciate about The Head and Tale is that it doesn’t just report the news, it interprets it. The stories are well-researched, comprehensive, and bold. Arti brings a fearless lens to reporting, often asking the uncomfortable but necessary questions. She makes you pause, reflect, and rethink what it all means for the payments and fintech ecosystem. It’s rare to find journalism that’s this sharp, timely, and relevant to the work we do every day.”
“I’ve always valued journalism that goes beyond surface-level headlines. The Head and Tale does exactly that - it connects the dots, asks the tough questions, and brings clarity to the shifts shaping our evolving industry. I’ve even encouraged my team members to subscribe, because staying informed through credible, deeply reported stories is as important as building products. For me, The Head and Tale has become part of essential reading.”
