Dubai’s leading bank Emirates NBD has received approval from the Central Bank of the United Arab Emirates (UAE) to buy 60% stake in Indian private sector bank RBL Bank. After this big deal, Emirates NBD will become the largest shareholder of RBL Bank. This news came out on March 26, 2026, after which a rise was seen in the shares of RBL Bank.
How big is this deal and what is included in it?
In this acquisition, there will be a huge investment of about US $ 3 billion (about Rs 26,850 crore) from Emirates NBD. This investment will be up to 60% of the expanded equity capital of RBL Bank and will be done through preferential issue. As part of the deal, Emirates NBD will also make an open offer to buy an additional stake of up to 26% from the public shareholders of RBL Bank, as per the takeover rules of the Securities and Exchange Board of India (SEBI). Apart from this, Emirates NBD’s existing branches in India located in Mumbai, Chennai and Gurugram will also be merged with RBL Bank. This merger is expected to happen after the completion of the preferential issue.
Approval has been received from which regulators?
Many regulatory approvals were necessary for this big acquisition. This approval was received from the Central Bank of UAE on March 24, 2026, which was announced by RBL Bank on March 26. Earlier, the Competition Commission of India (CCI) had approved this acquisition for about US $ 3 billion on January 20 or 21, 2026. The boards of directors of both RBL Bank and Emirates NBD banks had approved the definitive agreements for this deal on October 18, 2025. For this entire process, remaining approvals will also be taken from the Reserve Bank of India (RBI) and Securities and Exchange Board of India (SEBI).
What impact will this investment have on RBL Bank and the Indian financial sector?
This investment is one of the largest ever foreign direct investment (FDI) in the Indian financial services sector. This is also the largest equity fundraise in the Indian banking sector and will be the first acquisition of majority stake in a profitable Indian bank by a foreign bank. Shayne Nelson, Group CEO of Emirates NBD, said that this strategic synergy combines RBL Bank’s growing domestic franchise with Emirates NBD’s regional reach and financial expertise, creating a strong platform for growth and new ideas. This investment will significantly strengthen RBL Bank’s balance sheet, increase its Tier-1 capital ratio and provide long-term growth capital. RBL Bank’s net worth is expected to increase from around Rs 15,000 crore to over Rs 42,000 crore, and its capital adequacy ratio will be well above the regulatory minimum. The price per share for the preferential issue has been fixed at Rs 280.