Emirates NBD in talks for acquiring majority stake in RBL Bank

Middle East banking giant Emirates NBD has held discussions to potentially purchase a majority stake in listed domestic private sector bank – RBL Bank, as per sources.

Both parties have been in talks for the past few months and Emirates NBD is keen on picking up more than 51 per cent stake in RBL Bank. They feel it’s a good asset and are pursuing the deal for commercial reasons.

The terms of the deal have not been finalized as yet and the ongoing talks may or may not necessarily turn into an eventual transaction. Interestingly, public shareholders own 100 per cent of RBL Bank, which does not have any entity in the promoter category.

Earlier media reports had indicated that Emirates NBD was eyeing a minority stake in RBL Bank. Incidentally, Emirates NBD has also been linked earlier with the divestment process of state-owned IDBI Bank.

RBL Bank, formerly known as Ratnakar Bank Limited, is an Indian private sector bank founded in 1943 and headquartered in Mumbai.