Kotak Bank's DB India retail buy is positive, not 'needle-mover', says CLSA

Kotak Mahindra Bank

24/03/2026 05:53

** Kotak Mahindra Bank KTKM.NS shares up 2% after Monday's media reports of acquiring Deutsche Bank's India retail business

** Acquisition for a consideration of 45 billion rupees ($479.60 million) could be a sentimental positive for KTKM, given recent correction, says CLSA analyst Piran Engineer

** Will increase private lender's net worth by 3% and loans by 5%, but unlikely to be needle-mover for stock in the medium term as these are modest growth figures- Engineer

** Deutsche Bank's India retail business entails 17 branches, wealth portfolio of 70 billion rupees; retail book size is 270 billion rupees, net worth 43 billion rupees

** KTKM lost 5% in last three sessions; YTD, stock down 19% vs 13% Nifty Bank index .NSEBANK drop

($1 = 93.8280 Indian rupees)

(Reporting by Bharath Rajeswaran in Bengaluru)

((bharath.rajeswaran@thomsonreuters.com; +91 9769003463;))