The transfer of customers and employees is expected to close by September 2027, subject to regulatory approvals.
Mumbai-based Kotak Mahindra Bank (Kotak) has entered into a definitive agreement to acquire Deutsche Bank’s retail banking, private banking and wealth management business in India. Kotak stated that the acquisition fit its strategy of pursuing selective inorganic opportunities The transaction covers customer relationships, employees and associated products currently operated by Deutsche Bank’s India branch. The business includes around 150,000 customers, approximately INR