Emirates NBD completes $2.75 billion RBL Bank deal, takes 60% stake
Dubai bank completes majority stake buy in RBL Bank through major capital infusion
Dubai: Emirates NBD has completed its acquisition of a majority stake in India’s RBL Bank through a primary capital infusion of about $2.75 billion, or nearly Rs260 billion, marking one of the largest cross-border banking deals in India.
The transaction gives Emirates NBD 60% of the expanded share capital of RBL Bank and strengthens the Dubai lender’s long-term presence in one of the world’s fastest-growing major economies.
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The deal was first announced on October 18, 2025, and has now closed after receiving the required regulatory approvals and meeting closing conditions.
Biggest foreign investment in Indian banking
The transaction was completed through a preferential issue of shares, alongside a mandatory open offer to RBL Bank’s public shareholders in line with Indian regulations.
Emirates NBD and RBL Bank said the deal represents the largest foreign direct investment in India’s banking sector, the largest equity fundraise in Indian banking, and the first acquisition of a majority stake in a profitable Indian bank by a foreign bank.
The investment is expected to strengthen RBL Bank’s balance sheet, improve its capital position and support its next phase of growth across corporate, retail and digital banking.
“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," said Sheikh Ahmed bin Saeed Al Maktoum, Chairman of Emirates NBD. "It also underscores the commitment of both nations’ leadership to strengthening trade, investment and financial ties. 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, said India remains central to the bank’s international strategy.
“This transaction marks a significant milestone for Emirates NBD and reinforces our long-term commitment to India. As one of the world’s fastest-growing major economies, India represents a key pillar of our international strategy. 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.”
RBL Bank’s established franchise gives Emirates NBD access to a broader Indian banking platform, with universal banking products and a wide distribution network across the country.
