Today's Edition
ABU DHABI (ALETIHAD)
Emirates NBD has completed the acquisition of a 60% stake in Indian bank RBL Bank.
In a joint announcement, Emirates NBD and RBL Bank said the transaction was completed through a primary infusion of approximately $2.75 billion, after receipt of all requisite approvals and satisfaction of closing conditions.
The investment has been completed through a preferential issue of shares. Emirates NBD also completed a mandatory open offer to the public shareholders of RBL Bank in accordance with applicable regulations.
The two banks said the transaction underscores Emirates NBD’s long-term commitment to the Indian market and represents a landmark development in the Indian financial services sector.
They said it constitutes the largest foreign direct investment in the Indian banking sector, the largest equity fund raise in the Indian banking sector, one of the largest fund raises through preferential issuance by a listed company in India, and marks the first acquisition of a majority interest in a profitable Indian bank by a foreign bank.
The two banks said the strategic partnership brings together Emirates NBD’s regional banking expertise and network with RBL Bank’s established presence, universal banking products and services, and extensive distribution network across India. The capital infusion is expected to strengthen RBL Bank’s balance sheet, enhance its capital adequacy and support its long-term growth strategy.
His Highness Sheikh Ahmed bin Saeed Al Maktoum, Chairman of 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. 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, “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.”
Shayne Nelson, Group CEO of 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. This partnership enhances our ability to serve customers across markets, while enabling us to drive growth across corporate, retail and digital banking segments.”
Chandan Sinha, Chairman of 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 of RBL Bank, said, “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.”
RBL Bank is one of India’s leading private sector banks, with a legacy dating back to 1943. It serves more than 15 million customers through a network of 603 branches and 1,339 business correspondent branches across 28 Indian states and union territories. The bank is listed on both the NSE and BSE.
