Kotak to buy Deutsche Bank’s India retail arm

Kotak Mahindra Bank is set to acquire Deutsche Bank’s retail, private banking, and wealth management operations in India, officials said. Reaction in Kotak and broader Indian financial stocks was pending.

Kotak adds ₹29,000 crore loans

Officials said the transaction includes about ₹29,000 crore in loans and roughly ₹16,000 crore in deposits being transferred with the business. The deal is expected to add around 150,000 customers and about 1,000 employees to Kotak’s platform.

For Kotak, the acquisition deepens its push into affluent and SME segments by folding in Deutsche Bank’s onshore wealth and private banking relationships, officials said. Investors will focus on how quickly Kotak can retain deposits, reprice liabilities, and integrate relationship managers without disrupting service for high-value clients.

For Deutsche Bank, the sale fits a broader effort to streamline its global portfolio and concentrate on fewer businesses, officials said. Sector-wide, the deal adds to consolidation pressures as lenders compete for wealthy households and stable deposit franchises in a tighter funding environment.

Kotak is expected to provide additional detail on timeline and regulatory steps by July 15, 2026, including next milestones for closing and customer account migration, officials said.