The Competition Commission of India (CCI) has approved Kotak Mahindra Bank's acquisition of Deutsche Bank's retail banking, private banking and wealth management business in India.
Kotak, a scheduled commercial bank licensed by the Reserve Bank of India and listed on the BSE and NSE, will buy the business from Deutsche Bank Aktiengesellschaft as a going concern on a slump sale basis. The business is run through Deutsche Bank's branches in India.
What the deal covers
The target business offers deposits, lending, investments, insurance and foreign exchange services in retail and private banking. Its wealth management arm focuses on high-net-worth individuals.
The CCI also cleared related arrangements. The parties, through affiliates, plan referral arrangements under which customers of the investment advisory and portfolio management businesses of Deutsche Investments India Private Limited, an indirect wholly owned Deutsche Bank subsidiary, would be referred to relevant subsidiaries of Kotak.
What the release does not say
The CCI's release does not give the price, the number of customers or branches involved, or a closing date. Other approvals, if any are needed, are not covered by it.
Source: official release by the Competition Commission of India, issued through the Press Information Bureau, Government of India (04 NOV 2026 7:05PM by PIB Delhi). Read the full official text: CCI approves acquisition of certain business of Deutsche Bank Aktiengesellschaft by Kotak Mahindra Bank, and other related transactions.
How we verified this
VerifiedEvery fact, figure and quotation is taken from the official PIB release (Release ID 2332721) issued by the Competition Commission of India on 04 NOV 2026 7:05PM by PIB Delhi; checked against the source on publication. Story written by BDT from that release; no outside facts added.
Sources
- 1.CCI approves acquisition of certain business of Deutsche Bank Aktiengesellschaft by Kotak Mahindra Bank, and other related transactions — Press Information Bureau, Government of India
