Emirates NBD receives approval for majority stake in RBL Bank

By Aarav Garg

Emirates NBD has received all required regulatory and governmental approvals for its proposed acquisition of a majority stake in RBL Bank, clearing the way for completion of one of the largest cross-border banking investments in India.

The transaction, first announced in October 2025, involves an investment of approximately $3 billion through a preferential share issue. Emirates NBD is expected to acquire a controlling stake in RBL Bank, with its final shareholding projected to range between 51% and 74%, subject to foreign ownership limits and completion of the mandatory open offer process.

Sheikh Ahmed bin Saeed Al Maktoum, Chairman of Emirates NBD, said, “Emirates NBD continues to accelerate development across our network and deepening our presence in high-potential regional markets such as India. We extend our appreciation and gratitude to the wise and visionary leadership of India and the UAE who have enabled the completion of this remarkable milestone. The successful accomplishment of this milestone acquisition underscores the strategic and long-standing relationship with the country, mirroring the UAE’s own strategic and business cooperation.”

Under the agreement, Emirates NBD will subscribe to new equity shares in RBL Bank at ₹280 ($2.9) per share. Once completed, the UAE-based lender will become the promoter of RBL Bank, which will continue operating under the regulatory framework applicable to foreign bank subsidiaries in India.

Chandan Sinha, Chairman, RBL Bank, said, “This is a pivotal moment for RBL Bank. The approval
reinforces confidence in our franchise and positions us to unlock new growth opportunities, expanding
cross-border corridors and scaling of our key business segments while maintaining customer centricity
and strong governance standards.”

The deal represents a significant development for India’s banking and financial services sector, reflecting growing interest from international financial institutions in the country’s expanding retail and commercial banking market.