What happened
The Competition Commission of India (CCI) has cleared Kotak Mahindra Bank to take over the Indian consumer, private banking and wealth businesses of Deutsche Bank. The regulator announced the approval on Tuesday, 3 November 2026, according to reports in CNBC-TV18 and BusinessLine.
The CCI said the operations are run by Deutsche Bank AG through its Indian branches. Kotak will take them over as a going concern on a slump sale basis, meaning the whole business moves across in one piece rather than asset by asset.
Kotak signed the agreement in June for about ₹281.7 crore in cash, CNBC-TV18 reported. That price is subject to adjustments, and Kotak will separately pay the net funding position, which is the value of assets less liabilities at closing.
What it means for you
If you bank with Deutsche Bank in India, nothing changes immediately. The deal remains subject to other regulatory approvals and conditions in the agreement, so it has not closed yet.
Economic Times reported that around 150,000 customers are covered. Customers of Deutsche Bank’s investment advisory and portfolio management services, handled through its affiliate Deutsche Investments India, will be referred to relevant wholly owned Kotak subsidiaries under a referral arrangement between the two groups.
If your money sits in a Deutsche Bank deposit, you can read how deposit insurance works in India. Check any notice the bank sends you about the transfer.
Background
Deutsche Bank announced the sale in June as part of efforts to simplify its business and redeploy capital, CNBC-TV18 reported. As of 31 March 2026, the business had about ₹29,000 crore in loans (roughly €2.7 billion), ₹16,000 crore in deposits (about €1.5 billion) and ₹10,500 crore (about €1 billion) in assets under management, according to the two banks as cited by BusinessLine.
Kotak Mahindra Group, set up in 1985, had total assets of ₹10,03,353 crore as of 31 March 2026. Kotak shares closed 1.37% higher at ₹464.65 on the NSE on 3 November, up ₹6.30 on the day.
The CCI reviews deals above certain size thresholds to guard against unfair business practices and to promote fair competition.
