The Government of India approves the acquisition of a majority stake in RBL Bank by Emirates NBD.

Emirates NBD Bank announced that it has received the approval of the Government of India for the strategic RBL Bank deal.

Thus, it has obtained all regulatory and governmental approvals necessary to complete its strategic acquisition of a controlling majority stake in RBL Bank Limited.

This achievement represents a pivotal step towards the imminent completion of this transaction, which is one of the most prominent cross-border investments in the financial services sector in India.

For his part, Ahmed bin Saeed, Chairman of the Board of Directors of Emirates NBD Bank Group, said: “We extend our sincere thanks and gratitude to the wise leadership and insightful vision of the sisterly country of India and the United Arab Emirates, which enabled the achievement of this notable achievement. This successful completion of the acquisition deal confirms the well-established strategic relationship between the two countries, and reflects the strategic and commercial cooperation of the United Arab Emirates.”