The proposed transaction underscores ENBD’s long-term commitment to the Indian market
The Board of Directors of Emirates NBD Bank and RBL Bank Limited at their respective meetings held today, approved entering into definitive agreements for ENBD to acquire controlling stake in RBL Bank through a primary infusion of approximately US$ 3bn, according to an official press communication.
The proposed transaction underscores ENBD’s long-term commitment to the Indian market and is a landmark transaction for the Indian financial services sector on account of:
- Largest ever foreign direct investment in the Indian financial services sector
- Largest ever equity fund raised in the Indian banking sector
- Largest fund raised via preferential issuance by a listed company in India
- First acquisition of majority interest in a profitable Indian bank by a foreign bank
Regulatory approvals
The proposed investment will be made via a preferential issue of up to 60% and will be subject to regulatory approvals and other customary closing conditions.
This investment reflects ENBD’s confidence in India’s fast-growing financial sector, reinforcing India’s strategic importance within the India-Middle East-Europe Economic Corridor (IMEC) and marking an important chapter in the economic partnership between India and the UAE.
“We envisage to support Indian businesses, trade, projects, and other opportunities throughout the region leveraging our network,” stated Shayne Nelson, Group CEO, Emirates NBD.
“Together, we are poised to strengthen our capabilities, deepen our customer franchise, and build a future-ready institution anchored in trust, governance, and growth,” commented Chandan Sinha, RBL Bank Chairman.
