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Kotak Mahindra to buy a key Deutsche India biz
Kotak Mahindra Bank on Tuesday announced it has reached a definitive agreement with Deutsche Bank for acquiring its retail banking, private banking and wealth management business in India, marking one of the biggest portfolio acquisitions in the country's financial services sector in recent years.Under the deal, Kotak Mahindra Bank will take over a business comprising nearly Rs 29,000 crore (around €2.7 billion) in loans, Rs 16,000 crore (around €1.5 billion) in deposits, and Rs 10,500 crore (a…
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