Emirates NBD in advanced talks for majority stake in India's RBL Bank, media outlets report

RBL Bank

13/10/2025 17:14

Oct 13 (Reuters) -
Dubai-based bank Emirates NBD ENBD.DU has held advanced talks to buy a majority stake in Indian private lender RBL Bank RATB.NS, local news outlets Moneycontrol and NDTV Profit reported on Monday.

The UAE's second-largest bank by total assets could acquire about 60% stake in the Mumbai-based RBL for about $3 billion, the NDTV Profit report added, citing a source familiar with the development.

The purchase would be executed via Emirates NBD's Indian subsidiary, later merged into RBL Bank, NDTV Profit reported.

Any agreement would trigger a mandatory open offer under India's takeover rules and require Reserve Bank of India (RBI) approval.

RBL Bank has a market cap of 177.28 billion rupees and is widely held by public shareholders, as per data from NSE. Shares on Monday closed down 0.82%.

Emirates NBD and RBL Bank did not immediately respond to Reuters requests for comment.

        Reuters reported in June that the Reserve Bank of India (RBI) is considering possible rule changes to allow higher foreign ownership in Indian banks, amid overseas buyers' interest and India's need for long-term capital.

Under current regulations, foreigners, including portfolio investors, can own up to 74%, but a strategic foreign investor is limited to 15%.

In May, the RBI made an exception to allow Japan's Sumitomo Mitsui Banking Corp (SMBC) to buy a 20% stake in Yes Bank. SMBC agreed to acquire a further 4.2% stake in September.

 (Reporting by Ananta Agarwal in Bengaluru; Editing by Tasim Zahid)

 ((Ananta.agarwal@thomsonreuters.com;))