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The Economic Times
The Economic Times
Business
Veer Sharma

Kotak Mahindra Bank shares in focus on deal to buy Deutsche Bank’s retail business for Rs 282 crore

Deutsche Bank Kotak Mahindra Bank India Christian Sewing

Shares of private lender Kotak Mahindra Bank will be in focus heading into trade on Wednesday after it signed a definitive agreement to acquire the retail banking, private banking and wealth management business of Deutsche Bank in India for Rs 282 crore, in what is among the largest portfolio acquisitions in the country's financial services industry in recent years.

As part of the transaction, Kotak Mahindra Bank will acquire a portfolio that includes nearly Rs 29,000 crore (around €2.7 billion) of loans, Rs 16,000 crore (around €1.5 billion) in deposits and Rs 10,500 crore (around €1 billion) in assets under management (AUM).

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