Kotak Mahindra Bank gets CCI nod to acquire Deutsche Bank India's retail, private banking businesses

CCI Clears Kotak-Deutsche Bank Deal

The Competition Commission of India has approved Kotak Mahindra Bank's proposed acquisition of Deutsche Bank's retail banking, private banking and wealth management operations in India. The target business is conducted through Deutsche Bank Aktiengesellschaft's Indian branches. According to the CCI, the transaction will proceed as a going concern on a slump sale basis, with Kotak Mahindra Bank as the acquirer and Deutsche Bank as the seller.

The approval also covers referral arrangements between affiliates of the two groups. Under these, customers of Deutsche Investments India Pvt Ltd's investment advisory and portfolio management services businesses will be referred to relevant wholly owned subsidiaries of Kotak Mahindra Bank. Deutsche Investments India is an indirect wholly owned subsidiary of Deutsche Bank.

Scale Of The Target Business

The two lenders announced a definitive agreement in June. The businesses being transferred comprise loans of roughly ₹29,000 crore, deposits of about ₹16,000 crore and assets under management of approximately ₹10,500 crore. Kotak Mahindra Group, established in 1985, reported total assets of ₹10,03,353 crore as on March 31, 2026. Deutsche Bank is Germany's leading bank, with a strong presence in Europe and a significant footprint across the Americas and Asia Pacific.

Why It Matters For Businesses

For a legal, tax and compliance audience, the CCI clearance is a key regulatory milestone in a transaction structured as a slump sale. A slump sale involves the transfer of an undertaking as a going concern for a lump-sum consideration, which carries distinct implications under competition, tax and contractual frameworks. The approval signals that the combination does not raise concerns in the relevant market. The accompanying referral arrangements matter for entities handling client onboarding, know-your-customer processes and data transfer, since advisory and portfolio management clients will move…