KOTAK MAHINDRA BANK LTD. GETS CCI APPROVAL

Kotak Mahindra Bank has received approval from the Competition Commission of India to acquire Deutsche Bank’s retail banking, private banking and wealth management businesses in India. The proposed deal marks a major transfer of the German lender’s customer-facing businesses to the domestic banking group. The CCI announced on Tuesday that it had cleared the acquisition of businesses operated by Deutsche Bank through its branches in India. According to the regulator, the transaction involves the acquisition of Deutsche Bank Aktiengesellschaft’s retail banking, private banking and wealth management businesses by Kotak Mahindra Bank Ltd. The deal will be executed on a going-concern basis through a slump sale arrangement. The transaction also includes referral arrangements between affiliates of the two banking groups. Under these arrangements, customers of Deutsche Investments India Pvt Ltd’s investment advisory and portfolio management businesses will be referred to the relevant wholly owned subsidiaries of Kotak Mahindra Bank. Deutsche Investments India is an indirect wholly owned subsidiary of Deutsche Bank. The businesses being acquired comprise approximately ₹29,000 crore in loans, ₹16,000 crore in deposits and ₹10,500 crore in assets under management. Established in 1985, the Kotak Mahindra Group is one of India's leading diversified financial services conglomerates. As of March 31, 2026, the group reported total assets of ₹10,03,353 crore. Deutsche Bank, headquartered in Germany, is the country's leading banking institution, with a strong presence across Europe and significant operations in the Americas and Asia-Pacific regions.