Emirates NBD seals $2.75 billion acquisition of majority stake in India's RBL Bank

19/06/2026 02:03 AST

Emirates NBD announced the completion of its acquisition of a majority stake in the Indian private bank RBL Bank through a primary capital infusion of approximately $2.75 billion (Dh10.1 billion), marking one of the largest foreign investments in the country's banking sector.

The Dubai-based lender announced on Thursday that it now holds 60 per cent of RBL Bank's expanded share capital following the completion of the transaction, which was first announced in October 2025.

According to Emirates NBD, the deal represents the largest foreign direct investment in the Indian banking sector, the largest equity fund raised by an Indian bank, and the first acquisition of a majority stake in a profitable Indian bank by a foreign lender.

Emirates NBD received the go-ahead from the Indian government to acquire the stake in mid-May, though the acquisition was initially announced in October of 2025.

The partnership brings together Emirates NBD's strong regional banking expertise and network with RBL Bank's established presence. The capital infusion is expected to strengthen the latter's balance sheet, enhance its capital adequacy and support its long-term growth strategy.

Chairman of Emirates NBD, Sheikh Ahmed bin Saeed Al Maktoum, commented that this acquisition is built on decades of cooperation, trust, and shared economic ambitions between the UAE and India, adding that "Emirates NBD is proud to support this vision and further reinforce its role as a trusted financial bridge between the UAE and India."

India is also a key pillar of Emirates NBD's international strategy, said Hesham Abdulla Al Qassim, the vice chairman and managing director of the bank. It also reinforces the Dubai bank's long-term commitment to the South Asian nation, he added.

Khaleej Times