RBL Bank says reports of Emirates NBD Bank stake buy 'incorrect'

Reports suggested that Emirates NBD is in advanced negotiations with RBL Bank to finalise a ₹15,000-crore investment, emerge as the single-largest, controlling shareholder in the Indian private lender

RBL Bank on Tuesday said that reports suggesting Emirates NBD Bank PJSC, the second-largest bank in the United Arab Emirates (UAE), is looking to acquire a controlling stake in the bank are incorrect.

 

“The bank is on a growth trajectory and routinely explores opportunities that are aimed at enhancing shareholder value. However, such discussions do not warrant a disclosure under Regulation 30 of the Listing Regulations at this stage,” the bank said in a disclosure to the exchanges on Tuesday.

 

“Further, the contents of the aforesaid article are incorrect,” the bank said.

 

Reports suggested that Emirates NBD is in advanced negotiations with RBL Bank to finalise a ₹15,000-crore investment and emerge as the single-largest and controlling shareholder in the Indian private lender.

 

Shares of RBL Bank closed 0.71 per cent higher at ₹292.20 on Tuesday, after rising as much as 3.3 per cent to ₹299.60 earlier in the day — their highest level since January 2024 — following reports of Emirates NBD’s potential stake purchase.

 

While India allows 74 per cent foreign investment in private banks, the shareholding of a single foreign institution is limited to 15 per cent by the Reserve Bank of India (RBI), unless the regulator gives exceptional approval.

 

Previously, Japan’s SMBC acquired a 20 per cent stake in Yes Bank from State Bank of India (SBI) and other private sector lenders. It later purchased an additional 4.22 per cent stake in the Mumbai-based lender, taking its total holding to 24.22 per cent.