Emirates NBD has reaffirmed its long-term commitment to India through its $3 billion investment in RBL Bank, a move that marks one of the largest foreign direct investments in India’s financial services sector.
Speaking at an event celebrating the completion of the transaction, Emirates NBD Managing Director and Chief Executive Officer Shayne Nelson said the investment reflects the group’s strong confidence in India, which it considers one of the most attractive growth markets for global financial institutions.
According to Nelson, the successful completion of the deal highlights the confidence global investors have in India’s economic future, regulatory framework and governance standards. The transaction, first announced in October 2025, received all necessary regulatory approvals. Following the preferential allotment of shares and completion of the mandatory offer, Emirates NBD now holds a 60% stake in RBL Bank.
Maharashtra Chief Minister Devendra Fadnavis, who attended the event, said the transaction could encourage more foreign investments in India’s banking sector. He noted that the deal has created opportunities for additional equity infusions and stronger partnerships between foreign and Indian banks, helping deepen and strengthen the country’s banking ecosystem.
“This (Emirates NBD – RBL) deal has paved the way for many more such deals, for more such equity infusions, and it will open a way for many more foreign banks to have deep ties with the Indian banks, thereby consolidating and deepening the Indian banking sector… There is a project pipeline of $100 billion. Maybe we can work together….”
Nelson added that the partnership supports progress toward the $100 billion trade target outlined under the 2022 India-UAE Comprehensive Economic Partnership Agreement (CEPA).
RBL Bank has also approved a reconstruction of its board, with Nelson joining the lender’s board of directors.
According to Nelson, the capital infusion will strengthen RBL Bank’s balance sheet, support future growth, accelerate technology investments and enhance customer service capabilities. He also identified India among Emirates NBD’s 5 key growth markets, alongside the UAE, Saudi Arabia, Turkey and Egypt.
Emphasising the group’s long-term vision, Nelson said Emirates NBD views India as a critical market for future growth and intends to participate actively in the country’s economic journey. He added that the bank brings not only capital but also expertise and a network spanning 30 countries across the Middle East, North Africa, Turkey, Europe and Asia.
Emirates NBD established its first representative office in India in 2000, opened its Mumbai branch in 2017 and expanded to Gurgaon and Chennai in 2022. Nelson reiterated that the bank sees itself as a long-term investor in India, backed by confidence in the country’s growth potential.
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