Kotak Mahindra Bank will acquire Deutsche Bank’s retail banking, private banking and wealth management business in India, the bank informed the exchanges on Tuesday. The deal size is pegged at Rs 282 crore. The transaction is subject to regulatory approvals, including clearance from the Competition Commission of India, and is expected to close by September 2027. The business being acquired comprises a loan book of around Rs 29,000 crore, deposits of Rs 16,000 crore and assets under management (AUM) of Rs 10,500 crore. It serves nearly 150,000 customers and has a workforce of about 1,000 employees, who are expected to join Kotak upon completion of the deal.