News ArticleKotak Mahindra Bank Gets CCI Nod for Acquisition of Deutsche Bank India's Retail and Wealth Units
Acquisition pending completion upon fulfillment of business transfer agreement conditions and regulatory approvals
Kotak Mahindra Bank has obtained Competition Commission of India clearance for acquiring Deutsche Bank AG's retail banking, private banking, and wealth management operations in India through a slump sale, pending final regulatory approvals and conditions under the business transfer agreement.
Kotak Mahindra Bank Ltd.
Acquisition / Amalgamation / Merger / Demerger
Kotak Mahindra Bank announced receiving Competition Commission of India approval for acquiring Deutsche Bank AG's retail banking, private banking, and wealth management business in India via a slump sale, subject to final conditions and regulatory approvals.
On June 30, 2026, Kotak Mahindra Bank executed a business transfer agreement with Deutsche Bank Aktiengesellschaft's India branch to acquire its retail banking, private banking, and wealth management business as a going concern through a slump sale.
The deal is subject to fulfillment of specified conditions and receipt of all required statutory and regulatory approvals for completion.
The recent approval from the Competition Commission of India, communicated on November 3, 2026, marks a significant regulatory clearance towards closing the acquisition.
The bank continues to await any remaining approvals to finalize the transaction as per the business transfer agreement.
Kotak Mahindra Bank has made this update publicly available on its website for investors and stakeholders.
Highlights
- Business transfer agreement executed on June 30, 2026, to acquire Deutsche Bank's India retail, private, and wealth management business.
- Competition Commission of India approval received on November 3, 2026, enabling progress towards deal completion.
- Acquisition structured as a slump sale of the business undertaking as a going concern.
- Final acquisition completion contingent on fulfilling conditions in the business transfer agreement and obtaining further regulatory approvals.
- Official intimation and disclosure made to stock exchanges and uploaded to the bank’s investor relations website.
Key Data Snapshot
What happened
- Kotak Mahindra Bank received approval from the Competition Commission of India on November 3, 2026, for acquiring Deutsche Bank AG’s retail banking, private banking, and wealth management business in India.
- This acquisition is structured as a slump sale of the business undertaking as a going concern.
- The acquisition will complete upon meeting the conditions set out in the business transfer agreement and securing any remaining regulatory approvals.
Key details
- Business transfer agreement was signed on June 30, 2026 between Kotak Mahindra Bank and Deutsche Bank AG's India branch.
- The acquisition involves Deutsche Bank's retail, private banking, and wealth management operations in India.
- Competition Commission of India approval was received on the same day it was notified by the bank, November 3, 2026, at 5:49 p.m. IST.
- Kotak Mahindra Bank has disclosed this update to stock exchanges and posted it on its official investor relations website.
Regulatory and governance context
- The acquisition is subject to conditions specified in the business transfer agreement including regulatory approvals.
- Competition Commission of India clearance is a critical regulatory milestone enabling transaction progress.
- Final completion of the transaction depends on fulfillment of all statutory and regulatory conditions.
Highlights
- Business transfer agreement executed on June 30, 2026, to acquire Deutsche Bank's India retail, private, and wealth management business.
- Competition Commission of India approval received on November 3, 2026, enabling progress towards deal completion.
- Acquisition structured as a slump sale of the business undertaking as a going concern.
- Final acquisition completion contingent on fulfilling conditions in the business transfer agreement and obtaining further regulatory approvals.
- Official intimation and disclosure made to stock exchanges and uploaded to the bank’s investor relations website.
Disclosures
- Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015
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