Emirates NBD shares gain after upping RBL Bank holding to 60%

Shares in Emirates NBD, Dubai’s largest bank by assets, rose more than 7 percent on Thursday after it completed the acquisition of a majority stake in RBL Bank, an Indian private lender.

The share price closed at AED32.4, according to Dubai Financial Market data, compared with a 3.4 percent gain in the emirate’s financial subindex.

Following the completion of the open offer to RBL Bank shareholders, the lender’s holding in the Indian bank has reached 60 percent through an investment of $2.8 billion.

Emirates NBD agreed in October 2025 to take a controlling stake in RBL Bank. The deal marked the largest foreign direct investment in India’s financial services sector.

The capital infusion is expected to strengthen RBL Bank’s balance sheet, enhance its capital adequacy and support its long-term growth strategy, Emirates NBD said in a statement.

India represents a key pillar of Emirates NBD’s international strategy, vice chairman and managing director Hesham Abdulla Al Qassim said.

RBL Bank CEO R Subramaniakumar said the transaction “significantly strengthens its franchise”, creating a foundation for scalable and sustainable growth.

Emirates NBD is 56 percent held by the Dubai government-owned Investment Corporation of Dubai and Dubai Holding Group. The bank has operations in the UAE, Egypt, Turkey, Saudi Arabia, Singapore, the UK, Austria, Germany and Bahrain and has 826 branches.

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