Kotak Mahindra Bank Signs ₹281.7 Crore Deutsche Bank India Business Acquisition Deal

Kotak Mahindra Bank has entered into a Business Transfer Agreement (BTA) with Deutsche Bank Aktiengesellschaft, acting through its India branch, to acquire its retail banking, private banking and wealth management business in India through a slump sale arrangement. The transaction is valued at approximately ₹281.7 crore, subject to customary adjustments under the agreement.

The acquisition covers Deutsche Bank India's identified business undertaking and does not involve the acquisition of a separate legal entity. The proposed transaction is expected to strengthen Kotak Mahindra Bank's presence in the affluent customer and SME segments while expanding its retail banking and wealth management franchise.