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Deutsche Bank to Sell India Retail, Private Banking Businesses to Kotak Mahindra

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Deutsche Bank (DB) said Tuesday it entered into a definitive agreement to sell its retail banking, private banking and wealth management business in India to Kotak Mahindra Bank.

The business comprises about 290 billion Indian rupees ($3.07 billion) in loans, 160 billion rupees in deposits, and 105 billion rupees of assets under management.

The business serves around 150,000 customers through a team of about 1,000 employees.

The transaction is expected to be accretive to Kotak's return on equity and Deutsche Bank's Common Equity Tier 1 capital ratio upon closing.

Deutsche Bank said that the deal is expected to close by September 2027.

Price: $33.78, Change: $-0.04, Percent Change: -0.10%

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