RBL Bank’s stock jumped more than 4% on Monday after the private sector lender announced that Emirates NBD, one of the largest banks in the Middle East, will acquire a 60% stake in the bank. The landmark deal, valued at ₹26,853 crore ($3.05 billion), will be carried out through a preferential issue of shares, according to RBL Bank’s exchange filing.
This marks the largest-ever investment by a Middle Eastern bank in India, highlighting growing foreign interest in the country’s financial sector. The deal comes just months after Japan’s Sumitomo Mitsui Banking Corporation (SMBC) announced its plan to purchase up to 25% of Yes Bank, signaling a wave of global capital flowing into Indian private banks.
RBL Bank said the investment is subject to regulatory approvals, including from the Reserve Bank of India (RBI). However, Reuters reported that the central bank has informally conveyed its support for the transaction — a positive sign for the completion of the deal.
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