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Kotak Bank set to acquire Deutsche’s retail business in Rs 4,500-crore deal

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Kotak Bank set to acquire Deutsche's retail business in Rs 4,500-crore deal
Mumbai: Kotak Mahindra Bank is one step closer to acquiring the India retail business of Deutsche Bank in a deal valued at about Rs 4,500 crore after being selected as the preferred buyer, multiple people familiar with the matter told ET.

A deal is expected to be signed and announced as early as next week, they said, requesting anonymity as the discussions are private.

The proposed acquisition comprises a retail loan and deposit book of about Rs 27,000 crore. This includes personal and home loans, MSME lending, retail deposits and wealth management assets.

The wealth management business is estimated at around Rs 7,000 crore, while the bulk of the portfolio is driven by retail and MSME loans. Emails sent to both Kotak Bank and Deutsche Bank remained unanswered until press time Sunday. The net value of assets over liabilities in the portfolio of Deutsche Bank’s India unit is around Rs 4,300 crore.

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A Niche Presence


Kotak is expected to pay a slight premium to this, translating into a consideration of about Rs 4,500 crore, after outbidding Federal Bank, which had also been in contention, people cited above said. Final numbers for the deal may be subject to adjustments at closing, they added. Deutsche Bank’s India unit, with a network of about 17 branches, has built a niche presence among affluent clients.
Its retail segment generated a revenue of Rs 2,455 crore in the year ended March 2025, up 4% from Rs 2,362 crore in FY24. Its retail banking business held total assets of Rs 25,038 crore as of March 2025, according to latest disclosures.For Kotak, the acquisition would deepen its retail franchise, adding scale in loans and deposits while strengthening its presence in the MSME segment and wealth management. The deal would help Kotak accelerate growth in the high-net-worth segment while increasing its share in prime urban retail lending.

Global Overhaul

For Deutsche Bank, the divestment aligns with its strategy to wind down retail operations in India as part of a global overhaul under CEO Christian Sewing focused on boosting profitability and prioritising core businesses. Kotak recently clarified that it did not submit a financial bid for IDBI Bank, despite market speculation. The lender’s approach to acquisitions has been focused on strategic fit, valuation and integration feasibility.

“We evaluate every transaction in the market through three clear lenses,” Ashok Vaswani, managing director and CEO of Kotak Mahindra Bank, had said in an investor call in January. “First is strategic fit — does the opportunity add to our franchise? If it doesn’t, we don’t pursue it further. Second is valuation — whether the deal is value-accretive for the firm? For us, scale is about relevance, not just size. The question is whether it strengthens us strategically and financially. If it meets both criteria, we get interested.”

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Integration

The third lens is integration and what it will take to successfully absorb and execute on the acquisition, he had said. India’s banking sector has witnessed a wave of strategic deals and consolidation since Axis Bank’s acquisition of Citibank’s consumer business in 2022 for around Rs 11,600 crore, which included credit cards, retail banking, wealth management and consumer loans, along with the transfer of about 3,200 employees. Kotak Mahindra had earlier acquired Rs 3,330-crore personal loan portfolio from Standard Chartered. Deutsche Bank sold its credit card book to IndusInd in 2011.

More recently, global investors have increased their exposure to India with Japan’s MUFG acquiring a 20% stake in Shriram Finance for $4.4 billion in the largest cross-border financial sector investment, while Emirates NBD agreed to buy a 60% stake in RBL Bank for $3 billion and SMBC picked up a 20% stake in Yes Bank for $1.6 billion and later increased it by another 4.99% stake.

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Plans unveiled for huge new town near Bristol

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The government is proposing to construct seven new towns in the UK

Brabazon Park with views of the lake and YTL Live entertainment complex

Brabazon Park with views of the lake and YTL Live entertainment complex(Image: Handout)

The government has announced plans to create a 40,000-home town in the West of England. The Brabazon and West Innovation Arc – a corridor of connected developments in South Gloucestershire – is one of seven areas that have been put forward as part of the proposals by Labour to build seven new towns in Britain.

A national consultation will be held on the plans as the government looks to ramp up housebuilding to a level not seen since the post-war era. Labour has pledged to build some 1.5 million new homes in England by the next election.

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The latest announcement comes after a dozen locations were shortlisted in September. The other towns under consideration are Crews Hill and Chase Park, Enfield; Leeds South Bank, West Yorkshire; Manchester Victoria North, Greater Manchester; Thamesmead, Greenwich; and Milton Keynes, Buckinghamshire.

On Thursday, housing secretary Steve Reed visited the West Innovation Arc with Helen Godwin, mayor of the West of England. He said: “The West of England is ready to build, and together with the new National Housing Bank, we’re laying the foundations our communities deserve.”

Helen Godwin, Mayor of the West of England, said: “The country’s fastest growing regional economy here in the West of England is the perfect place for a new town: Brabazon and the West Innovation Arc. As we continue to create jobs and growth, we need to build the right homes in the right places – with the services and infrastructure that people need.”

Prime Minister Sir Keir Starmer has promised to break ground on the new towns by 2029 in an attempt to tackle the housing crisis. Last year, he said the aim for the new towns is for at least 40 per cent of homes to be affordable.

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Brabazon includes the new Bristol Arena as well as some 6,500 homes, offices, student accommodation and a train station, and is being built on the historic former Filton Airfield by Malaysia-based YTL. The development is expected to create thousands of local jobs.

YTL UK Group chief executive Colin Skellett said: “We’re delighted that Brabazon and the West Innovation Arc has been included in the new towns consultation, it marks a crucial step further towards becoming the most exciting multi-purpose destination in the South West.”

He added: “The potential new town status will unlock even more homes and opportunities for Brabazon, along with the public transport and infrastructure needed to support it.”

Douglas Ure, new chief executive of South West chamber Business West, welcomed the news. He said: “This is exactly the kind of long-term public-private collaboration that drives tangible change, strengthening our key sectors, and improving connectivity between Bristol’s city centre and the region’s highest value employment areas.

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“High quality housing, modern transport links and robust cultural infrastructure are essential foundations for prosperity. Our businesses tell us time and time again that these factors are critical to attracting and retaining the talented and skilled workforce that they need. Brabazon and the West Innovation Arc will boost business confidence in our regional economy and help unlock further private sector investment in our region.”

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IHI: Pullback Creates A Buying Opportunity In High-Growth MedTech

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IHI: Pullback Creates A Buying Opportunity In High-Growth MedTech

IHI: Pullback Creates A Buying Opportunity In High-Growth MedTech

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Daimler Truck Is Still A Sell

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Daimler Truck Is Still A Sell

Daimler Truck Is Still A Sell

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AdvancedAdvT buys back 150,000 shares at 165 pence each

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AdvancedAdvT buys back 150,000 shares at 165 pence each

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Power-led quartet join Killi

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Power-led quartet join Killi

Shares in West Perth-based junior Killi Resources surged 121 per cent after the junior appointed Nev Power as chair.

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At Close of Business podcast March 23 2026

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At Close of Business podcast March 23 2026

Ella Loneragan talks to Isabel Vieira about Grace Forrest’s push to end global modern slavery.

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Kim Kardashian Fuels Dating Rumors with Lewis Hamilton in Tokyo While Reflecting on Viral Oscars Mishap

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Kim Kardashian was traumatised by the robbery

Los Angeles — Kim Kardashian sparked fresh speculation about her personal life this week after photos surfaced of her stepping out with Formula 1 champion Lewis Hamilton in Tokyo, just days after a viral tumble at the 2026 Vanity Fair Oscars after-party. The 45-year-old entrepreneur and reality star, known for her business empire and high-profile relationships, continues to dominate headlines with a mix of fashion moments, family life, and entrepreneurial milestones.

Kim Kardashian was traumatised by the robbery
AFP

The Tokyo sighting, captured in photos shared across social media on March 22, showed Kardashian and Hamilton walking closely together, with the SKIMS founder linking arms with the racing icon. Fans quickly interpreted the casual outing as evidence of romance, though neither has confirmed any relationship. The pair’s connection has drawn attention since earlier collaborations and mutual admiration, adding another layer to Kardashian’s post-divorce chapter following her 2022 split from Kanye West.

The Tokyo trip follows Kardashian’s high-profile appearance at the Vanity Fair Oscars party on March 15 at the Los Angeles County Museum of Art. Dressed in a curve-hugging gold Gucci gown from the Fall/Winter 2026 collection, she paired the look with sky-high Pleaser platform heels and icy blue contact lenses that gave her an almost unrecognizable appearance. The ensemble evoked her 2016 aesthetic, complete with a tousled bob hairstyle and dramatic makeup.

Behind-the-scenes footage shared on TikTok and Instagram on March 18 captured a lighter moment: while navigating an outdoor path with friend Stephanie Shepherd, Kardashian questioned if her shoes needed tightening. Moments later, she lost balance, stumbling and partially falling into a bush. She twisted her ankle but recovered quickly, with help from those nearby, and proceeded to the red carpet. Kardashian laughed off the incident in her posts, writing captions that embraced the relatable mishap. “Every girl has been here before,” one viral clip echoed.

The near-fall became a social media sensation, with outlets like Page Six, E! News, and Complex highlighting the clip. Kardashian attended alongside sisters Kendall Jenner, Kris Jenner, and Kylie Jenner, reinforcing the family’s strong presence at Hollywood events. Her gold glitter look drew praise for its elegance, though the footwear proved challenging in the skin-tight dress.

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Business remains a priority for Kardashian in 2026. She was named a CNBC Changemaker earlier this year for leading SKIMS to a $5 billion valuation in 2025 and driving global expansion. The brand’s ongoing partnership with Nike produced the NikeSKIMS Spring 2026 collection, released in March. Kardashian fronted the campaign, showcasing a mix-and-match system of two-toned activewear essentials designed for versatility. The drop, available online since March 12, highlights her influence in shaping inclusive, performance-driven apparel.

Kardashian has also completed her six-year legal apprenticeship, earning her law license and positioning herself as an advocate for criminal justice reform. Through her private equity firm SKKY Partners, she pursues investments aligned with her values. These professional strides underscore her evolution from reality TV star to multifaceted mogul.

Family moments provide balance amid the spotlight. Kardashian frequently shares content with her four children—North, Saint, Chicago, and Psalm—co-parented with West. Recent TikToks featuring North highlight their close bond, with fans anticipating more collaborative content.

The divorce from West, finalized years ago, occasionally resurfaces in discussions. Kardashian has spoken positively about maintaining civility for the children’s sake and even praised certain YEEZY designs in interviews. She has emphasized personal growth post-split, describing a “new me” with renewed confidence independent of past relationships.

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As speculation swirls around her Tokyo appearance with Hamilton, Kardashian maintains focus on her brands, philanthropy, and family. Her ability to turn everyday mishaps into viral, relatable content—while commanding attention at elite events—demonstrates why she remains one of entertainment’s most influential figures.

With SKIMS’ continued growth, potential legal advocacy expansions, and an active social presence, Kardashian’s 2026 trajectory blends glamour, business acumen, and authenticity. Whether navigating heels or headlines, she navigates the spotlight with characteristic poise and humor.

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Deputy calls for an end to Guernsey overseas aid

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Deputy calls for an end to Guernsey overseas aid

A Guernsey Deputy says there is strong support for scrapping the island’s £5.6m aid spending.

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GSK lung cancer drug receives orphan status in Japan

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GSK lung cancer drug receives orphan status in Japan

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Tokio Marine to form partnership with Berkshire Hathaway, initially sell 2.49% stake

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Tokio Marine to form partnership with Berkshire Hathaway, initially sell 2.49% stake


Tokio Marine to form partnership with Berkshire Hathaway, initially sell 2.49% stake

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