Emirates NBD is reportedly weighing a purchase of Deutsche Bank’s retail and wealth management operations in India.
Other potential buyers evaluating the German bank’s portfolio in the South Asia nation include Kotak Mahindra Bank and Federal Bank, Bloomberg reported, citing people familiar with the matter.
The possible deal comes amid a broader wave of foreign investment in India’s financial sector, including insurance and fintech, as firms seek to tap into the country’s growing wealth, rising deposits, and expanding banking market. Some financial institutions are also reevaluating retail and wealth strategies due to intensifying competition.
In October, Dubai-based Emirates NBD announced plans to invest $3 billion in RBL Bank, representing one of the largest foreign commitments in India’s banking sector. Earlier that month, Abu Dhabi’s International Holding agreed to acquire a roughly $1 billion stake in Sammaan Capital.
