Important development regarding Deutsche Bank's Private Banking and Wealth Management Business in India

Deutsche Bank A.G., acting through its India branch (“Deutsche Bank”) has entered into an agreement with Kotak Mahindra Bank Limited (“Kotak”) to transfer its Private Bank and Wealth Management business in India on a going concern basis, subject to customary regulatory approvals.

The transaction encompasses a well-established business serving approximately 150,000 clients and supported by around 1,000 employees. Following completion of the transaction, transferring customers will benefit from access to Kotak's broader suite of banking, investment and financial solutions.

We recognise the importance of continuity and are committed to ensuring a smooth transition. Deutsche Bank will guide you through all necessary steps at the appropriate time and provide detailed information regarding each step of the consent process required for the transfer of your relationship. Please be assured that Deutsche Bank is working with Kotak towards a smooth and seamless transition. 

The transaction is expected to close in Q3 of 2027. You can continue to enjoy your existing products and services as before with Deutsche Bank for now. 

We thank you for the trust you have placed in Deutsche Bank over the years. India remains a core market for the Deutsche Bank Group, and following completion of the transaction, Deutsche Bank will continue to maintain a significant presence in the country through its Corporate Bank and Investment Bank franchises, employing more than 25,000 people and remaining the largest European bank in India. 

We will continue to keep you informed as the process progresses. In the meantime, should you have any questions, please contact your Deutsche Bank relationship manager or business manager or visit the nearest Deutsche Bank branch.