NBD Bank Gets Nod from Central Bank to Acquire Stake in RBL Bank

Private sector lender RBL, Bank Ltd announced that Emirates NBD Bank (P.J.S.C) has gained approval from the Central Bank of the UAE for its proposed acquisition of a controlling share in the bank.

The approval was transmitted through a letter dated March 24, 2026, which the investor received on March 25, 2026. The approval also includes the proposed merger of Emirates NBD’s current operations in India with RBL Bank. The bank stated that the permission is contingent on receipt of all requisite regulatory approvals.

The proposed merger has already been approved by the Competition Commission of India, clearing a critical regulatory obstacle.

Under the proposed transaction, Emirates NBD intends to acquire a controlling stake in RBL Bank. Principally, it will do so through a preferential share issuance that would give the Dubai-based lender around 60% of the bank’s increased equity capital.

The transaction will also include a mandatory open offer for up to 26% of public shareholders’ shares, in accordance with India’s acquisition legislation. The final stake will be within the 74% limit on foreign ownership in commercial banks.

The lender, based in Dubai, currently has three branch offices in India. RBL also maintains an IFSC Banking Unit (IBU) in GIFT City that serves as its international branch.

Emirates NBD is a publicly traded joint stock corporation on the Dubai Financial Market. It provides retail, corporate, and institutional banking, Islamic banking, investment banking, private banking, asset management, treasury, and brokerage services.

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