Vaswani’s biggest challenge has been not just to build a new team—out of the shadow of Uday Kotak—but also build scale which would take Kotak Mahindra Bank closer to its nearest rival Axis Bank.
Approximately 1,000 Deutsche Bank employees in India are expected to join Kotak Mahindra Bank as part of the transaction.
The Deutsche Bank business comprises approximately ₹29,000 crore in loans, ₹16,000 crore in deposits, and ₹10,500 crore in assets under management.
Net interest income for the bank edged up 9% to ₹7,928 crore in Q1FY27 from ₹7,876 crore for the corresponding period a year earlier.
The CASA ratio for the bank, however, weakened to 40.3% in Q1FY27 from 43.3% a year earlier.
Vaswani’s biggest challenge has been not just to build a new team—out of the shadow of Uday Kotak—but also build scale which would take Kotak Mahindra Bank closer to its nearest rival Axis Bank.
In the KMB annual report and message to shareholders on July 6, Vaswani said: “While our primary focus remains on organic growth, we will continue to pursue inorganic opportunities that enhance scale, capabilities, or customer reach, as evidenced by our recent acquisition of Deutsche Bank’s retail portfolio.”
In late June 2026, Kotak Mahindra Bank had announced that it had acquired Deutsche Bank’s retail banking, affluent private banking, and wealth management businesses in India.
The deal, valued at ₹281.7 crore, was executed on a slump sale basis. Approximately 1,000 Deutsche Bank employees in India are expected to join Kotak Mahindra Bank as part of the transaction. The Deutsche Bank business comprises approximately ₹29,000 crore in loans, ₹16,000 crore in deposits, and ₹10,500 crore in assets under management.
Earlier in October 2024, KMB announced that it had acquired the personal loan book of Standard Chartered Bank’s India business, further strengthening its position in the retail credit market.
“We will look at every opportunity: does a deal make strategic sense? Is it going to be financially accretive and attractive and will it create distraction for the management or create more boardroom talk. If the answer to the first two questions is ‘yes’ and ‘no’ for the last one, it is all fine.”
On Saturday, July 18, profit for KMB rose 26% year-on-year to ₹4,123 crore in Q1FY27 from ₹4,027 crore in the quarter-ended March 2026. Net interest margin for the bank fell to 4.53% from 4.46% for the corresponding period.
Net interest income for the bank edged up 9% to ₹7,928 crore in Q1FY27 from ₹7,876 crore for the corresponding period a year earlier.
Advances outstripped deposit growth for the bank in this quarter. Advances rose 15% year-on-year to ₹512, 249 crore for Q1FY27, led by strong home loan growth and institutional banking. Deposits grew 12% year-on-year to ₹5,72,820 crore from ₹5,12,838 crore level a year earlier. The CASA ratio for the bank, however, weakened to 40.3% in Q1FY27 from 43.3% a year earlier.
