Kotak Mahindra Bank–Deutsche Bank Deal

Why in News

Kotak Mahindra Bank announced acquisition of Deutsche Bank India's:

• Retail banking

• Private banking

• Wealth-management business

for:

₹281.7 crore

Portfolio Included

Approximately:

• ₹29,000 crore loans

• ₹16,000 crore deposits

• ₹10,500 crore AUM

Customers:

Around 1.5 lakh

Employees:

Nearly 1,000

Strategic Significance

The acquisition strengthens Kotak's position in:

• Affluent customers

• Private banking

• SME banking

UPSC Concepts

AUM

Assets Under Management

Represents the market value of assets managed by a financial institution.

GS Link

GS III: Banking