IBNS-CMEDIA: Private lender Kotak Mahindra Bank is reportedly nearing a deal to acquire the Indian retail business of German banking giant Deutsche Bank, according to media reports.
The bank has emerged as the preferred bidder for the transaction, which is estimated to be valued at around ₹4,500 crore, sources familiar with the development told The Economic Times. The deal is likely to be signed and officially announced as early as next week.
According to sources cited by CNBC-TV18, Kotak Mahindra Bank is looking to acquire a portfolio worth approximately ₹27,000 crore.
This includes personal loans, home loans, MSME loans, retail deposits, and wealth management operations.
Notably, Deutsche Bank had previously explored selling its India retail business in 2018 and had held discussions with IndusInd Bank.
However, the proposed deal did not materialise.
