Mumbai:Private lender Kotak Mahindra Bank on Tuesday, June 30, 2026, announced it has signed a definitive agreement to acquire the retail, private banking and wealth management businesses of Germany’s Deutsche Bank in India. The deal value was not disclosed.
In an official statement, Kotak said the acquisition is aimed at giving a thrust to its affluent and small and medium enterprises (SME) business.
The transaction will bring Deutsche Bank’s India retail loan and deposit book, along with its private banking and wealth management portfolio, into Kotak’s fold. Deutsche Bank has built a niche presence among affluent clients through its 17-branch network in India.
The move marks Deutsche Bank’s exit from retail banking in India as part of its global restructuring to improve profitability and focus on core businesses.
