CCI Approves Acquisition of Deutsche Bank's India Business by Kotak Mahindra Bank
The Competition Commission of India (CCI) has granted approval for Kotak Mahindra Bank Limited's acquisition of certain business segments of Deutsche Bank Aktiengesellschaft in India, along with related transactions. The approval was announced on November 4, 2026, through a PIB Delhi release.
The proposed combination involves Kotak Mahindra Bank acquiring Deutsche Bank's Retail Banking, Private Banking, and Wealth Management business conducted through its branches in India. This acquisition will be executed as a slump sale basis, transferring the Target Business as a going concern. Additionally, affiliates of both parties are contemplating referral arrangements whereby Deutsche Investments India Private Limited (an indirect wholly-owned subsidiary of Deutsche Bank) will refer customers of its investment advisory and portfolio management services businesses to relevant wholly-owned subsidiaries of Kotak Mahindra Bank.
Kotak Mahindra Bank is a scheduled commercial bank licensed by the Reserve Bank of India, with its equity share capital listed on both the Bombay Stock Exchange and National Stock Exchange of India. The bank engages in retail banking, wealth management, and institutional banking services including deposit accounts, loans, distribution/referral of third-party investment and insurance products, and portfolio management and investment advisory services.
The Target Business comprises Deutsche Bank's Retail banking/Private banking and Wealth Management operations in India. The retail/private banking segment offers a comprehensive range of products across deposits, lending, investments, insurance, and foreign exchange services, while the wealth management business specifically caters to high-net-worth individuals.