Emirates NBD Bank (P.J.S.C.) and RBL Bank Limited have completed Emirates NBD’s acquisition of a majority stake in RBL Bank through a primary capital infusion of approximately $2.75 billion (around INR 260 billion).
The transaction has been executed following receipt of all required regulatory approvals and fulfillment of closing conditions. Post completion, Emirates NBD holds 60 percent of the expanded share capital of RBL Bank.
Transaction structure
The acquisition was carried out through a preferential issue of shares and a mandatory open offer to public shareholders of RBL Bank in accordance with applicable regulations.
The transaction has been completed after approvals from relevant authorities, including the Government of India, the Reserve Bank of India (RBI), the Competition Commission of India (CCI), the Securities and Exchange Board of India (SEBI), and the Central Bank of the United Arab Emirates, along with other regulatory bodies.
Investment details
The capital infusion of approximately $2.75 billion represents a major foreign investment in the Indian banking sector and a significant equity fund raise through preferential issuance by a listed company in India.
It also involves the acquisition of a majority stake in a profitable Indian private sector bank by a foreign banking institution.
Emirates NBD stated that the investment reflects its long-term strategy in the Indian market. The bank said the transaction is based on its assessment of RBL Bank’s business model, management team, customer base, and operating platform.
RBL Bank noted that the capital infusion is expected to support its balance sheet, improve capital adequacy, and provide support for its future business plans.
The partnership brings together Emirates NBD’s regional banking operations and RBL Bank’s domestic banking network in India.
The capital infusion supports growth across corporate banking, retail banking, and digital banking segments and strengthens the overall capital position of RBL Bank.
HH Sheikh Ahmed bin Saeed Al Maktoum Chairman – Emirates NBD
“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. 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, remarked that, “This transaction marks a significant milestone for Emirates NBD and reinforces our long-term commitment to India. 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.”
Chandan Sinha, Chairman of RBL Bank, commented that, “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.”
R. Subramaniakumar, Managing Director & CEO of RBL Bank, highlighted that, “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.”
