18/05/2026 05:12 AST
Emirates NBD, a leading banking group in the Middle East, North Africa and Türkiye (MENAT) region, has announced that it has received all requisite regulatory and governmental approvals for its landmark acquisition of a majority controlling stake in India's RBL Bank Limited (RBL) with the approval of the Government of India for the deal.
This milestone clears the path for the imminent completion of a transaction that represents one of the most significant cross-border investment in India's financial services sector, it said.
First announced on October 18, 2025, Emirates NBD's investment of approximately $3 billion in RBL represents the largest equity fund raise in the Indian banking sector, and the milestone acquisition of majority interest in a profitable Indian bank by a foreign banking institution.
The receipt of all the approvals is an affirmation of the strong bi-lateral relationship between the UAE and India.
"Emirates NBD is grateful for the support shown by the Governmental and regulatory authorities in both the UAE and India," it said.
Building on the strong people, trade, and investment flows between India and the Gulf region, and aligned with Emirates NBD's strategy to be a leading banking group across the Middle East, North Africa, Türkiye and South Asia (MENATSA) region, Emirates NBD has identified India as a key market for the continued expansion of its international operations. A presence in India through a well-established institution such as RBL Bank would further complement and strengthen Emirates NBD's ability to serve its customers in the UAE and across its wider network, it said.
Sheikh Ahmed bin Saeed Al Maktoum, Chairman of Emirates NBD, said: "Emirates NBD continues to accelerate development across our network and deepening our presence in high-potential regional markets such as India. We extend our appreciation and gratitude to the wise and visionary leadership of India and the UAE who have enabled the completion of this remarkable milestone. The successful accomplishment of this milestone acquisition underscores the strategic and long-standing relationship with the country, mirroring the UAE's own strategic and business cooperation. We look forward to expanding our presence in the nation and serving our customers by unlocking the next chapter of Emirates NBD's growth and impact."
Hesham Abdulla Al Qassim, Vice Chairman and Managing Director, Emirates NBD, said: "Approval of the Government of India marks an important milestone for Emirates NBD, and we are grateful to the Government and the regulatory institutions who have engaged with this transaction, making it possible for us to commence the integration of RBL Bank into the wider Group. We especially thank the UAE's wise leadership, inspired by their vision of accelerating growth, economic diversification and global competitiveness. Emirates NBD is committed to being a long-term partner in India's growth, bringing capital, capability and connectivity to support the opportunities ahead."
Shayne Nelson, Group CEO, Emirates NBD, said: "We are pleased to have received the Government of India's approval for Emirates NBD's landmark acquisition of RBL Bank. We thank the Government and regulatory institutions involved in the transaction for their engagement and oversight during this process. This moment also reflects the strategic vision of the UAE's leadership, which has long recognised India's potential and championed deeper economic ties between our two nations. This approval positions Emirates NBD at the centre of a critical trade, wealth and investment corridor, cements our ability to serve customers across two of the world's most dynamic economies and strengthen financial flows between the two countries."
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