RBI Approves Emirates NBD Branch Merger With RBL Bank
The Reserve Bank of India has approved the amalgamation of Emirates NBD Bank P.J.S.C.'s Indian branches with RBL Bank Ltd, effective 1 December 2026. From that date, all Indian branches of Emirates NBD will function as branches of RBL Bank, according to RBI's announcement on 16 October.
The approval was granted under Section 44A(4) of the Banking Regulation Act, 1949. It follows Emirates NBD's completion on 18 June 2026 of a majority stake purchase in RBL Bank, through a primary capital infusion of approximately $2.75 billion, or ₹26,000 crore, which gave it a 60% stake in RBL Bank's expanded share capital.
The branch merger is a separate stage of that transaction, which was first announced on 18 October 2025. Emirates NBD operates in India through three branches, in Mumbai, Chennai and Gurugram, and the Competition Commission of India confirmed in January 2026 that the combination included their amalgamation on a going-concern basis.
Newsletter
The corridor, every morning.
Funding rounds and cross-border capital moves, one email, five minutes.
Emirates NBD is a UAE-based banking group. It will remain the controlling shareholder of RBL Bank, an Indian-incorporated, listed private sector lender.
The arrangement will bring Emirates NBD's Indian branch operations under RBL Bank.
The two banks have described the transaction as the largest foreign direct investment in the Indian banking sector and the first acquisition of a majority interest in a profitable Indian bank by a foreign bank. They said it would bring together Emirates NBD's regional banking expertise and network with RBL Bank's established domestic franchise.
More in Market Move
