Key Takeaways
- Emirates NBD acquires 60% stake in RBL Bank for $3.05 billion
- Largest investment by a Middle Eastern bank in India
- Deal awaits final regulatory approvals with RBI backing
Dubai’s Emirates NBD is set to acquire a controlling 60% stake in India’s RBL Bank through a massive ₹268.53 billion ($3.05 billion) investment. The Middle Eastern banking giant will purchase shares through a preferential issue, marking the largest-ever deal by a Gulf bank in the Indian financial sector.
This strategic move comes shortly after Japan’s Sumitomo Mitsui Banking Corporation announced plans to acquire up to 25% of Yes Bank, highlighting growing international interest in India’s banking landscape.
RBL Bank confirmed the transaction remains subject to regulatory clearances, though the Reserve Bank of India has already indicated informal support for the deal. The acquisition represents a significant foreign investment in India’s private banking sector and could reshape competitive dynamics.
