Emirates NBD has completed its acquisition of a majority stake in RBL Bank through a primary capital infusion of approximately USD 2.75 billion (around Rs 26,000 crore). The transaction, first announced in October 2025, marks a significant milestone for both institutions following the receipt of all regulatory approvals and fulfilment of closing conditions.
The investment represents the largest foreign direct investment in the Indian banking sector, the largest equity fund raise by an Indian bank, one of the country’s biggest preferential equity issuances, and the first acquisition of a majority stake in a profitable Indian bank by a foreign banking institution.
The transaction was executed through a preferential issue of shares, with Emirates NBD also completing a mandatory open offer to RBL Bank’s public shareholders. Following the completion of the deal, Emirates NBD now holds 60 per cent of the expanded share capital of RBL Bank.
The partnership brings together Emirates NBD’s regional banking expertise and international network with RBL Bank’s established presence, universal banking capabilities, and extensive distribution network across India. The capital infusion is expected to strengthen RBL Bank’s balance sheet, enhance capital adequacy, and support its long-term growth strategy.
His Highness Sheikh Ahmed bin Saeed Al Maktoum, Chairman, 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. 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, Emirates NBD, said, “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.”
Shayne Nelson, Group CEO, 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. We look forward to working closely with the RBL Bank team to unlock the full potential of this collaboration.”
Chandan Sinha, Chairman, 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.”
R Subramaniakumar, Managing Director & CEO, RBL Bank, added, “We are delighted to welcome Emirates NBD as our strategic partner. This transaction significantly strengthens RBL Bank’s franchise, creating a strong foundation for scalable and sustainable growth.”
The completion of the transaction highlights growing financial cooperation between India and the UAE while positioning both institutions to capitalise on expanding cross-border trade, investment, and banking opportunities.
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