Kotak, Federal Bank lead bids for Deutsche Bank's India retail portfolio – report [Yahoo! Finance]
Sumitomo Mitsui Financial Group Inc Unsponsored American Depositary Shares (Japan) (SMFG)
US:NYSE Investor Relations:
smfg.co.jp/english/investor
Company Research
Source: Yahoo! Finance
The portfolio includes mortgage lending, small business loans, and wealth management services. Last month, the news agency reported about the German lender being in talks to sell its retail and wealth management business. At the time, Emirates NBD was also said to be interested in Deutsche Bank's Indian assets. However, Emirates NBD later chose not to submit an offer. Notably, the UAE lender is now pursuing a majority stake in RBL Bank Deutsche Bank currently maintains a branch network across 16 Indian cities but has been reassessing its presence in the market to concentrate on corporate and investment banking for multinational enterprises and major local clients. A previous attempt in 2018 to sell similar businesses to IndusInd Bank did not proceed due to unmet valuation expectations. For Kotak Mahindra Bank, integrating Deutsche Bank's local assets would add to recent acquisitions, including Standard Chartered's personal loan book. Representatives for Deutsche Bank,
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SMFG
Sec Filings
- 1/6/26 - Form 424B2
- 1/6/26 - Form FWP
- 1/5/26 - Form 424B5
- SMFG's page on the SEC website