Recently, The Finance Ministry has approved Dubai-based Emirates NBD Bank (PJSC) to acquire up to a 74% stake in RBL Bank.
RBL Bank said the approval allows Emirates NBD Bank to acquire more than 49% and up to 74% of the bank’s total paid-up equity share capital. The approval came a day before Prime Minister Narendra Modi began his official visit to the UAE.
The proposed investment will be through a preferential issue of equity shares and is still subject to completion of the required conditions.
Last month, the Reserve Bank of India (RBI) also approved Emirates NBD Bank’s proposal to acquire up to a 74% stake in RBL Bank.
Emirates NBD Bank, which is the second-largest bank in the UAE, had shown interest in October 2025 to acquire a majority 60% stake in RBL Bank for ₹26,853 crore.
According to the approval letter, Emirates NBD Bank will have to maintain at least a 51% shareholding in RBL Bank. The bank will also be classified as a foreign bank operating in subsidiary mode, with Emirates NBD as the parent foreign bank.
Earlier in January, the Competition Commission of India (CCI) had approved Emirates NBD Bank’s proposal to acquire a majority stake in private sector lender RBL Bank.
Timeline of RBL Bank
RBL Bank, formerly known as Ratnakar Bank Limited, is an Indian private sector bank founded in 1943 and headquartered in Mumbai.
On 6 August 1943, Ratnakar Bank was founded as a regional bank in Maharashtra with two branches in Kolhapur and Sangli by Babgonda Bhujgonda Patil from Sangli and Gangappa Siddappa Chougule from Kolhapur.
It mainly served small and medium enterprises (SMEs) and business merchants in the Kolhapur-Sangli belt. The bank was incorporated in Kolhapur district on 14 June 1943 as Ratnakar Bank Limited.
In 1959, the bank was categorized as a scheduled commercial bank as per the Reserve Bank of India Act, 1934. During this decade, it was referred to as an NH4 Bank. In 1970, it received a banking license from the Reserve Bank of India (RBI).
In July 2010, Vishwavir Ahuja became managing director and Chief executive officer of the bank. In 2013, Ratnakar Bank acquired Royal Bank of Scotland’s business banking, mortgage, and credit cards business divisions in India.
In August 2014, the name of the bank was changed to RBL Bank Limited. On 12 June 2022, R Subramaniakumar was appointed as the Managing Director and CEO of the bank.
On 18 October 2025, UAE-based bank Emirates NBD announced that it will acquire a 60% stake in RBL Bank for ₹26,850 crore (US$3.05 billion) through a preferential issue of shares.
As of March 2025, it had a network of 562 branches and 412 ATMs across 28 states and union territories. It has 14,265 employees. The bank also has a network of 1,272 business correspondent branches, of which 952 are managed by RBL Finserve Limited, a wholly owned subsidiary of the bank.
Why Emirates NDB Bank purchased stake in RBL Bank?
Emirates NBD purchased a major stake in RBL Bank to strengthen its presence in India and expand its business in one of the fastest-growing banking markets in the world. Instead of starting a new bank from scratch, Emirates NBD chose to invest in RBL Bank because it already has a large customer base, branch network, retail banking operations, and a growing digital presence across India.
At the same time, RBL Bank needed strong capital support to improve its financial position and expand its operations. By investing heavily in RBL Bank, Emirates NBD gained an opportunity to enter the Indian banking sector on a large scale while also supporting the bank’s future growth and stability.
RBL Bank Net Profit
RBL Bank reported a net profit of ₹230 crore for the quarter ended March 31, 2026, which is a 234% increase year-on-year.
For the full financial year (FY26), the bank’s total net profit stood at ₹822 crore, representing an 18.3% increase over the previous year. In FY 2024-25, net profit stood at ₹879 crore.
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