Mumbai [Maharashtra], June 18 (ANI): Emirates NBD and RBL Bank on Thursday announced the successful completion of Emirates NBD's acquisition of a majority stake in the Indian private sector lender through a primary capital infusion of about USD 2.75 billion (around Rs 26,000 crore).

The transaction, first announced in October 2025, was completed after receiving all regulatory approvals and fulfilling closing conditions, the companies said in a joint statement.

Following the preferential allotment of shares and completion of the mandatory open offer, Emirates NBD now holds 60 per cent of the expanded share capital of RBL Bank.

The deal is the largest foreign direct investment in the Indian banking sector, the largest equity fund raise by an Indian bank, and marks the first acquisition of a majority stake in a profitable Indian bank by a foreign bank.

The investment is expected to strengthen RBL Bank's balance sheet, improve capital adequacy and support its long-term growth plans.

Hesham Abdulla Al Qassim, Vice Chairman and Managing Director of Emirates NBD, said the transaction reinforces the bank's 'long-term commitment to India' and strengthens its ability to support trade, investment and financial flows between India and other markets.

Shayne Nelson, Group CEO of Emirates NBD, said, 'This partnership enhances our ability to serve customers across markets, while enabling us to drive growth across corporate, retail and digital banking segments.'

Chandan Sinha, Chairman of RBL Bank, noted, 'TThe entry of Emirates NBD as our strategic shareholder reflects strong global confidence in our franchise and the broader Indian banking sector.'

R Subramaniakumar, Managing Director and Chief Executive Officer of RBL Bank, said the transaction 'significantly strengthens RBL Bank's franchise' and creates a foundation for 'scalable and sustainable growth.'

The two banks said the partnership combines Emirates NBD's regional banking expertise and international network with RBL Bank's established domestic presence and distribution capabilities across India.

Emirates NBD, one of the leading banking groups in West Asia, North Africa and Turkiye region, currently operates branches in Mumbai, Gurugram and Chennai. RBL Bank serves more than 15 million customers through a network of over 600 branches across India. (ANI)