Emirates NBD Bank has finalized its acquisition of a 60 percent majority stake in India’s RBL Bank Limited through a primary capital infusion of approximately $2.75 billion (260 billion Indian rupees).

The transaction, originally structured on October 18, 2025, concluded following regulatory clearances from financial and antitrust authorities in both nations, including the Reserve Bank of India, the Securities and Exchange Board of India, the Competition Commission of India, and the Central Bank of the United Arab Emirates.

According to closing data, the investment was executed via a preferential issuance of shares to the Dubai-based lender, supplemented by a mandatory open offer to RBL Bank’s public shareholders. The deal marks the first time a foreign banking institution has acquired a majority interest in a profitable, publicly listed Indian bank. It stands as the largest foreign direct investment recorded within India's banking sector.

The $2.75 billion capital injection is structured to fortify RBL Bank's balance sheet and elevate its capital adequacy ratios to support long-term corporate, retail, and digital banking expansion.

"India represents a key pillar of our international strategy," Hesham Abdulla Al Qassim, Vice Chairman and Managing Director of Emirates NBD, said in a statement. He noted that the acquisition is intended to deepen cross-border financial, trade, and investment flows between India and the Gulf region.

RBL Bank, an established universal banking platform with an extensive distribution footprint across India, will retain its current management structure. R Subramaniakumar, Managing Director and CEO of RBL Bank, stated that the fresh capital provides a baseline for scalable and sustainable growth while leveraging Emirates NBD's regional network.

The cross-border transaction reflects a broader trend of strengthening financial and bilateral trade ties between the United Arab Emirates and India. Sheikh Ahmed bin Saeed Al Maktoum, Chairman of Emirates NBD, framed the completed acquisition as a strategic financial bridge backed by the shared economic ambitions of both governments.

Photo credits: Government of Dubai Media Office

Andrew Shelepnytsky

Andrew Shelepnytsky is an Editor of Dubai Voice.