Kotak Mahindra Bank has reached a definitive agreement to acquire Deutsche Bank’s retail banking, private banking and wealth management business in India. Multiple outlets report the deal covers a portfolio of about ₹29,000 crore in loans and around ₹16,000 crore in deposits, along with approximately ₹10,500 crore in assets under management (AUM). The acquired business includes an estimated customer base of roughly 1.5 lakh (about 150,000) customers and is supported by around 1,000 employees that would transition to Kotak. Deutsche Bank’s India retail operations are described as serving affluent clients through a network of about 16–17 branches. Financial terms are reported differently across outlets: most cite an approximate value of ₹281.7 crore to ₹282 crore for the transaction, while Kotak and Deutsche did not disclose all financial details in the announcement referenced by reports. The acquisition is expected to close by September 2027, subject to regulatory approvals and satisfaction or waiver of customary conditions, including clearance from the Competition Commission of India and related approvals for depository-related transfers. Deutsche Bank is presented in reporting as focusing more on its core global businesses while winding down its India retail footprint.