Emirates NBD has finalised its acquisition of a 60% majority stake in India's RBL Bank through a primary capital infusion of approximately $2.75 billion, marking one of the most significant cross-border banking deals in recent history.
The transaction, first announced in October 2025, received all requisite regulatory approvals before closing. It stands as the largest foreign direct investment in the Indian banking sector and the first acquisition of a majority interest in a profitable Indian bank by a foreign institution.
The deal was structured through a preferential issue of shares, accompanied by a mandatory open offer to RBL Bank's public shareholders in line with applicable regulations. Emirates NBD now holds 60% of the bank's expanded share capital.
For Emirates NBD, the move deepens its footprint in one of the world's fastest-growing major economies. The Dubai-based lender cited RBL Bank's management strength, customer relationships and long-term growth potential as central to its investment rationale. The capital injection is expected to bolster RBL Bank's balance sheet and support its next phase of expansion across corporate, retail and digital banking.
Sheikh Ahmed bin Saeed Al Maktoum, Chairman of Emirates NBD, described the deal as a reflection of the enduring strategic partnership between the UAE and India, built on decades of economic cooperation.
Group CEO Shayne Nelson added that the partnership creates a platform combining RBL Bank's domestic franchise with Emirates NBD's regional reach and financial expertise.
RBL Bank's Managing Director and CEO, R Subramaniakumar, called the transaction a foundation for scalable and sustainable growth, with the bank remaining focused on expanding its customer base and enhancing product offerings under the new partnership.
News Source: Emirates News Agency
