Emirates NBD has completed its acquisition of a majority stake in RBL Bank following a primary capital infusion of approximately US$2.75 billion (INR 260 billion).
The deal gives the Dubai-based banking group a 60% holding in the expanded share capital of the Indian lender.
First announced on 18 October 2025, the transaction has concluded after receiving regulatory approvals and fulfilling closing conditions.
Emirates NBD executed the acquisition through a preferential issue of shares along with a mandatory open offer to public shareholders of RBL Bank.
According to the announcement, Emirates NBD and RBL Bank described the transaction as the largest foreign direct investment and equity fundraise in the Indian banking sector.
It also marks what the parties said is the first acquisition of a majority stake in a profitable Indian bank by a foreign bank.
Strategic rationale
The capital infusion is intended to strengthen RBL Bank’s capital adequacy and support its expansion plans across India.
The deal combines Emirates NBD’s regional banking network with RBL Bank’s domestic distribution platform.
Shayne Nelson, Group CEO of Emirates NBD, said the investment creates a platform that combines a domestic franchise with regional reach and financial expertise.
“This partnership enhances our ability to serve customers across markets, while enabling us to drive growth across corporate, retail and digital banking segments,”
Nelson said.
Regulatory approvals secured
Completion of the transaction required approvals from multiple authorities across both jurisdictions, including the Government of India, Reserve Bank of India, Competition Commission of India, Securities and Exchange Board of India, and the Central Bank of the UAE (CBUAE).
Chandan Sinha, Chairman of RBL Bank, said the entry of a strategic shareholder reflects international interest in India’s banking sector.
“Together, we are well placed to further strengthen our governance, enhance our capabilities and build a resilient, future-ready institution,”
he said.
Featured image credit: Edited by Fintech News UAE, based on image by Emirates NBD
