RBI Approves Merger of Emirates NBD's Indian Branches with RBL Bank Effective December 1, 2026

“All the Indian branches of Emirates NBD Bank P.J.S.C. will function as branches of RBL Bank Limited with effect from December 1, 2026,” said the RBI in a statement. This merger is part of Emirates NBD’s strategic expansion into India’s banking sector after acquiring a controlling stake in RBL Bank earlier this year.

In May, India's Finance Ministry approved Emirates NBD’s acquisition of up to 74% of RBL Bank, which was finalized by June after a capital infusion of approximately 260 billion rupees ($3.1 billion). This investment is noted as one of the largest foreign direct investments in India’s banking industry. Currently, Emirates NBD holds 60% of RBL Bank’s expanded share capital.

As part of the merger transaction, RBL Bank's board has appointed five nominees from Emirates NBD as additional non-executive, non-independent directors, pending shareholder approval, effective June 18. The broader agreement was initially announced in October 2025 and completed following the receipt of necessary regulatory approvals. The Competition Commission of India greenlit the merger in January 2026, with additional government approvals secured by May.

This integration will include Emirates NBD’s three branches in Mumbai, Chennai, and Gurugram, which will be incorporated into RBL Bank’s network. Emirates NBD, which has been operational in India since establishing a representative office in March 2000, received RBI approval to open its first branch in Mumbai in 2016 and commenced banking operations in July 2017, later expanding its presence with branches in Gurugram and Chennai. This merger solidifies Emirates NBD's commitment to strengthening its position in one of Asia’s largest banking markets. (Source: IANS)