Emirates NBD cleared to take control of RBL Bank
The Finance Ministry has granted approval to Dubai-based Emirates NBD Bank (P.J.S.C) for the acquisition of up to 74 percent stake in RBL Bank. Emirates NBD Bank has informed that it has received a letter from the Department of Financial Services dated May 14, 2026, approving its proposed acquisition of RBL Bank, a regulatory filing said on Friday.
The approval for investment in excess of 49 percent and up to 74 percent of the total paid-up equity share capital of RBL Bank was approved, RBL Bank said.
The approval came a day before Prime Minister Narendra Modi‘s official visit to the UAE. The proposed investment by Emirates NBD Bank in RBL Bank by way of a preferential issue of equity shares remains subject to completion of the customary conditions, it said.
Last month, the Reserve Bank of India (RBI) accorded approval to Emirates NBD Bank to acquire up to 74 percent stake in RBL Bank. The approval was granted following Emirates NBD Bank, the second largest in the UAE, expressing its interest in October 2025 to acquire a majority 60 percent stake in RBL Bank for Rs.26,853 crore.
As per the approval letter, Emirates NBD (ENBD) would acquire and maintain a shareholding of at least 51 percent of the paid-up share capital of RBL Bank, and the bank would be classified as a foreign bank in subsidiary mode, with the investor as its parent foreign bank.
Earlier in January, fair trade regulator CCI had approved Emirates NBD Bank’s proposal to acquire a majority stake in private sector lender RBL Bank.
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