CCI approves Kotak Mahindra Bank's acquisition of Deutsche Bank's retail business

Kotak Mahindra Bank has obtained the necessary approval from the Competition Commission of India (CCI) for the acquisition of Deutsche Bank's retail banking, private banking, and wealth management business in India. Following this approval, the proposed transfer of the German lender's customer-centric businesses to the Indian bank will take place. CCI announced on Tuesday that it has approved the acquisition of businesses operated by Deutsche Bank through its Indian branches.

CCI stated in its announcement, "The proposed combination envisages the acquisition of the retail banking, private banking, and wealth management business (target business) operated by Deutsche Bank Aktiengesellschaft (seller) through its Indian branches." This entire transaction will be undertaken by Kotak Mahindra Bank Limited (acquirer) from the seller on a 'going concern' basis through a 'slump sale'. According to a report by Business Standard, this acquisition includes businesses managed by Deutsche Bank's Indian branches.

This deal also includes referral arrangements between the affiliates of both groups. Under this arrangement, clients of Deutsche Investments India Private Limited's investment advisory and portfolio management services will be referred to Kotak Mahindra Bank's relevant wholly-owned subsidiaries. Notably, Deutsche Investments India is an indirectly wholly-owned subsidiary of Deutsche Bank.

According to a report by The Hindu, in June, Kotak Mahindra Bank and Deutsche Bank AG entered into a definitive agreement through their Indian branches, which mentioned the acquisition of Deutsche Bank's retail banking, affluent private banking, and wealth management business by Kotak Bank. This business includes approximately ₹29,000 crore in loans, ₹16,000 crore in term deposits, and ₹10,500 crore in assets under management (AUM).

To promote fair competition in the market and monitor unfair trade practices, it is mandatory for the regulator CCI to seek approval for deals exceeding certain limits. As part of this process, Kotak Mahindra Bank has received the green light for this acquisition.

Regarding the Kotak Mahindra Group, it was established in 1985 and is one of India's leading diversified and integrated financial services companies. As of March 31, 2026, the group's total assets were ₹10,03,353 crore. On the other hand, Deutsche Bank is a leading German bank with a strong presence in Europe and a large network in the US and Asia Pacific regions.