Kotak Mahindra to buy Deutsche's India retail unit for ₹282 crore

Kotak Mahindra Bank announced on Tuesday that it will acquire Deutsche Bank's retail, private banking and wealth business in India for ₹282 crore. The deal, including ₹29,000 crore loans, ₹16,000 crore deposits and ₹10,500 crore in assets under management, will close by September 2027 pending regulatory approval. Around 1,000 Deutsche Bank employees will join Kotak as part of the deal.