Emirates NBD's Major Stake Acquisition in RBL Bank

In a significant move highlighting the strengthening financial ties between the UAE and India, Emirates NBD Bank has received the green light from India's Finance Ministry to acquire up to 74% of RBL Bank.

This development comes as Prime Minister Narendra Modi prepares for an official visit to the UAE, underscoring potential diplomatic and economic synergies. A day before the visit, Emirates NBD reported receiving a crucial letter from the Department of Financial Services, dated May 14, 2026, confirming the approval. The proposed investment follows a Reserve Bank of India nod granted last month.

Emirates NBD, the UAE's second largest bank, initially showcased interest in purchasing a majority stake last October, aiming for a 60% acquisition valued at Rs 26,853 crore. With this approval, Emirates NBD is set to maintain at least 51% of RBL's paid-up share capital, reclassifying the bank under foreign bank subsidiary parameters with Emirates NBD as the parent entity.

(With inputs from agencies.)