Kotak Mahindra Bank announced that the Competition Commission of India (CCI) has granted its approval for the acquisition of Deutsche Bank AG’s retail banking, private banking, and wealth management business in India. This significant development marks a crucial step towards completing the transaction, which is subject to the fulfilment of conditions outlined in the business transfer agreement and any remaining regulatory approvals.
Key Acquisition Milestone Achieved
Kotak Mahindra Bank Limited has received a significant update regarding its proposed acquisition of Deutsche Bank AG’s retail banking, private banking, and wealth management business in India. The Bank announced today, November 3, 2026, that the Competition Commission of India (CCI) has conveyed its approval for this strategic transaction.
Deal Progress and Future Steps
This approval from the CCI is a vital step forward in the process initiated by a business transfer agreement (BTA) executed on June 30, 2026. The acquisition of the ‘Business Undertaking’ is being conducted on a slump sale basis. While the CCI approval is a major hurdle cleared, the completion of the acquisition is still contingent upon the fulfilment of all conditions stipulated in the BTA and the securing of any remaining approvals from relevant statutory and regulatory authorities.
The Bank has also made this intimation available on its official website for public record.
Source: BSE
