Economy
Kotak Mahindra Bank Secures CCI Nod to Acquire Deutsche Bank India Units
The Hindu1h
THE BRIEF
1
Kotak Mahindra Bank secured Competition Commission of India approval to acquire Deutsche Bank's retail banking, private banking, and wealth management businesses in India.
2
The transaction will proceed on a slump sale basis, encompassing approximately ₹29,000 crore in loans, ₹16,000 crore in deposits, and ₹10,500 crore in assets under management.
3
The deal also incorporates referral arrangements allowing clients of Deutsche Investments India's investment advisory and portfolio management services to be referred to Kotak subsidiaries.