GK and monthly revision

Kotak to buy Deutsche's India retail, wealth business

Kotak Mahindra Bank is acquiring Deutsche Bank's retail, private banking, and wealth management operations in India for ₹29,000 crore in loans and ₹16,000 crore in deposits. This acquisition will add approximately 150,000 new customers and 1,000 employees to Kotak, enhancing its focus on affluent and SME clients. The deal is significant as it reflects the consolidation trend in the banking sector and Deutsche Bank's strategy to streamline its global operations.