The Weekly Wrap: all you need to know by Friday COB | July 3rd

By Puja Sharma

The Weekly Wrap is published every Friday and recaps the week’s main stories and deals, as well as upcoming events and announcements for Prime subscribers only.

The Big Story

Kotak Mahindra Bank has agreed to acquire Deutsche Bank’s retail banking, affluent private banking and wealth management business in India, expanding its presence in the affluent and SME segments while significantly strengthening its customer franchise.

The transaction has included a loan portfolio of approximately $3.05 billion, deposits of around $1.68 billion and assets under management (AUM) of about $1.10 billion. Around 150,000 customers and nearly 1,000 employees are also expected to transition to Kotak as part of the acquisition.

The deal has reflected Kotak’s strategy of pursuing selective inorganic growth opportunities that complement its core banking business. By integrating Deutsche Bank’s retail and wealth operations, Kotak has aimed to deepen its capabilities in wealth management and private banking while broadening its suite of services for affluent customers and SMEs. For Deutsche Bank, the divestment has formed part of its strategy to simplify its business portfolio and focus on areas where it has established scale and competitive strength. The bank has said India will remain a core market, supported by its Corporate Bank, Investment Bank and DWS businesses.

The acquisition has been expected to close by September 2027, subject to regulatory approvals, including clearance from the Competition Commission of India, and other customary conditions.

Deals of the week

• Mynd Fintech joins C2FO to strengthen supply chain finance
• Razorpay modernises NetBanking with NBBL
• Objectway acquires FNZ’s Swiss banking tech business
• Codebase Technologies powers Alawneh Pay digital wallet launch
• BanBif selects Finastra to modernise trade finance operations
• LeapXpert raises $180m to scale AI
• Mashreq expands Quick Remit with Mastercard
• Paysafe partners Primer for card payments

Be on the lookout for

A big investor, Temasek-owned MacRitchie Investments, is planning to sell part of its shares in PB Fintech, the company behind Policybazaar and Paisabazaar. They’re putting up about 1.19 crore shares for sale, which equals 2.6% of the company. The deal is worth around ₹1,908 crore, and the shares are being offered at a lower price than the last market closing — about 4.6% cheaper. Buyers of these shares will be revealed later through official stock exchange updates.

This sale is important because PB Fintech is one of India’s leading online platforms for insurance and loans. When large investors make moves like this, it often affects how other investors feel about the company and the stock market in general. For now, MacRitchie will not be able to sell more shares for the next 60 days due to a lock-in rule. The deal highlights the growing interest in India’s digital finance sector, where Policybazaar and Paisabazaar are major players.