Kotak Mahindra Bank Receives CCI Approval to Acquire Deutsche Bank's India Retail and Wealth Businesses

Kotak Mahindra Bank has secured approval from the Competition Commission of India (CCI) to take over the retail banking, private banking, and wealth management businesses operated by Deutsche Bank through its Indian branches. The clearance marks a significant step in the proposed transfer of the German lender's customer-facing operations in the country to the domestic financial institution.

According to the regulatory body, the proposed combination involves the acquisition of the specified target business by Kotak Mahindra Bank from Deutsche Bank Aktiengesellschaft. The transaction will be executed as a going concern on a slump sale basis.

In addition to the core asset transfer, the deal incorporates referral arrangements between affiliates of the two banking groups. Under these provisions, customers utilizing the investment advisory and portfolio management services of Deutsche Investments India Pvt Ltd—an indirect wholly owned subsidiary of Deutsche Bank—will be referred to relevant wholly owned subsidiaries of Kotak Mahindra Bank.

The definitive agreement for the acquisition was initially announced in June, when Kotak Mahindra Bank and Deutsche Bank AG's India branch entered into a formal pact. Financial details provided during the initial announcement indicated that the acquired business encompasses approximately ₹29,000 crore, or about €2.7 billion, in loans. Additionally, the portfolio includes ₹16,000 crore, representing around €1.5 billion, in deposits, alongside ₹10,500 crore, or approximately €1 billion, in assets under management.

The Competition Commission of India reviews corporate transactions above specified financial thresholds to monitor for fair business practices and maintain competitive market conditions. Regulatory clearance is a mandatory step before large-scale banking and financial sector acquisitions can proceed toward completion.

Established in 1985, the Kotak Mahindra Group operates as a diversified financial services conglomerate in India, reporting total assets of ₹10,03,353 crore as of March 31, 2026. Deutsche Bank functions as Germany's primary bank, maintaining an established operational presence across Europe, the Americas, and the Asia-Pacific region.

"The CCI's approval of this acquisition highlights the ongoing consolidation within the Indian banking and wealth management sector. By absorbing established portfolios in retail and private banking through a slump sale, Kotak Mahindra Bank strengthens its market position and expands its footprint in high-net-worth wealth management. For foreign banks, divesting non-core or specific customer-facing segments to strong domestic players allows them to streamline operations while ensuring service continuity for clients." — Dr. Shishir Gupta, Founder & CEO, StartupLanes