Emirates NBD has completed a $2.75 billion acquisition of a majority stake in RBL Bank, strengthening its presence in India. The deal marks a significant milestone in cross-border banking and highlights growing financial cooperation between India and the UAE. Emirates NBD received the go-ahead from the Indian government to acquire the stake in mid-May, though the acquisition was initially announced in October of 2025.
Emirates NBD has stated that it has completed the purchase of a majority stake in the Indian private bank RBL Bank after making a primary investment of about $2.75 billion (Dh10.1 billion). This was done by the Dubai-based bank on Thursday, June 18, 2026. As a result of this deal, Emirates NBD holds 60 percent of the equity of the RBL Bank post-completion of the transaction.
According to the Chairman of Emirates NBD, Sheikh Ahmed bin Saeed Al Maktoum, "This acquisition is based on years of collaboration, trust, and joint economic aspirations between the UAE and India. It gives Emirates NBD an opportunity to be a financial bridge between the two countries."
The joint venture combines the strengths of Emirates NBD’s regional expertise in the banking industry with the existing footprint of RBL Bank. The investment in the form of capital infusion will help improve the balance sheet of the latter.
In the view of Emirates NBD, the transaction is the largest foreign direct investment in India’s banking industry. It is also the first instance where a foreign bank has acquired a controlling interest in a profitable Indian bank.
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RBL Bank Managing Director and Chief Executive Officer R Subramaniakumar said the transaction strengthens the bank's franchise and provides a foundation for scalable and sustainable growth.
“India is also a key pillar of Emirates NBD’s international strategy,” said Hesham Abdulla Al Qassim, the vice chairman and managing director of the bank. “It also reinforces the Dubai bank’s long-term commitment to the South Asian nation,” he added.
"This transaction marks a significant milestone for Emirates NBD and reinforces our long-term commitment to India," Hesham Abdulla Al Qassim, vice chairman and managing director of Emirates NBD, said.
He added that the partnership will help deepen cross-border connectivity and support trade, investment and financial flows between India and the wider region.
With competition heating up, such acquisitions might spur innovation, enhance financial services, and foster banking collaborations among international and regional banks.