Emirates NBD Bank and RBL Bank Limited today announced the successful completion of Emirates NBD’s acquisition of a majority stake in RBL Bank through a primary infusion of approximately $2.75 billion (~INR 260 billion).
The transaction, originally announced on October 18, 2025, has now concluded following receipt of all requisite approvals and satisfaction of closing conditions.
The transaction underscores Emirates NBD’s long-term commitment to the Indian market and represents a landmark development in the Indian financial services sector driven by RBL Bank’s strong platform providing opportunity to leverage on India’s growth story. It constitutes the largest foreign direct investment in the Indian banking sector, the largest equity fund raise in the Indian banking sector, one of the largest fund raises through preferential issuance by a listed company in India, and marks the first acquisition of a majority interest in a profitable Indian bank by a foreign bank.
The investment has been completed through a preferential issue of shares, resulting in Emirates NBD acquiring a majority stake in RBL Bank. In connection with the transaction, Emirates NBD also completed a mandatory open offer to the public shareholders of RBL Bank in accordance with applicable regulations. Following the completion of the transaction, Emirates NBD holds 60% of the expanded share capital of RBL Bank.
The transaction reflects the strength and strategic value of the RBL Bank franchise that has been built over decades. Emirates NBD’s investment follows its conviction in RBL Bank’s management capabilities, customer relationships, operating platform and long-term growth potential. The partnership is intended to build upon these existing strengths while supporting the Bank’s next phase of expansion.
This strategic partnership brings together Emirates NBD’s strong regional banking expertise and network with RBL Bank’s established presence offering universal banking products & services and extensive distribution network across India. The capital infusion is expected to strengthen RBL Bank’s balance sheet, enhance its capital adequacy and support its long-term growth strategy.
Sheikh Ahmed bin Saeed Al Maktoum, Chairman of Emirates NBD, said: The successful completion of this landmark transaction reflects the strength of the strategic partnership between the UAE and India, built on decades of cooperation, mutual trust and shared economic ambitions. It also underscores the commitment of both nations’ leadership to strengthening trade, investment and financial ties. Through our partnership with RBL Bank, Emirates NBD is proud to support this vision and further reinforce its role as a trusted financial bridge between the UAE and India.”
Hesham Abdulla Al Qassim, Vice Chairman and Managing Director of Emirates NBD, said: “This transaction marks a significant milestone for Emirates NBD and reinforces our long-term commitment to India. As one of the world’s fastest-growing major economies, India represents a key pillar of our international strategy. Through our partnership with RBL Bank, we are well-positioned to deepen cross-border connectivity and support trade, investment and financial flows between India and the wider region.”
Shayne Nelson, Group CEO of Emirates NBD, said: “Our investment in RBL Bank creates a compelling platform that combines a strong domestic franchise with Emirates NBD’s 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. We look forward to working closely with the RBL Bank team to unlock the full potential of this collaboration.”
Chandan Sinha, Chairman of RBL Bank, said: “This partnership represents a defining moment in RBL Bank’s evolution. The entry of Emirates NBD as our strategic shareholder reflects strong global confidence in our franchise and the broader Indian banking sector. Together, we are well placed to further strengthen our governance, enhance our capabilities and build a resilient, future-ready institution.”
R Subramaniakumar, Managing Director & CEO of RBL Bank, said: “We are delighted to welcome Emirates NBD as our strategic partner. This transaction significantly strengthens RBL Bank’s franchise, combining its deep understanding of the Indian market built over years to create a strong foundation for scalable and sustainable growth. We remain focused on expanding our customer franchise, enhancing our product offerings and driving operational excellence, while leveraging the strengths of our new partnership.” – TradeArabia News Service
