RBL Bank eyes wealth business after Emirates NBD deal

R Subramaniakumar, Managing Director (MD) and Chief Executive Officer (CEO) of RBL Bank
| Photo Credit:
REUTERS/FRANCIS MASCARENHAS

RBL Bank plans to launch a wealth management venture following Emirates NBD’s acquisition of a 60% stake for $3 billion, according to CEO R Subramaniakumar.

The Dubai-based bank will inject ₹26,853 crore into the Indian private lender through a preferential share allocation announced on Saturday, marking the largest foreign acquisition in India’s banking sector.

This transaction continues a trend of international investments in Indian financial institutions, following Japan’s Sumitomo Mitsui Banking Corp’s recent move to acquire up to 25% of Yes Bank.

Subramaniakumar stated the strategic partnership positions RBL Bank for substantial growth, adding: “We aim to become a major banking player post-Emirates NBD investment.”

The current leadership team will continue guiding operations through the transition period, bank executives confirmed.

Jaydeep Iyer, Chief Strategy Officer at RBL Bank, indicated that initial funding is anticipated within five to seven months. The merger is expected to take effect from April, making RBL Bank a publicly listed subsidiary of Emirates NBD.

Indian banking regulations permit foreign entities to hold up to 74% in private banks, with individual ownership limited to 15% without special regulatory approval. The Reserve Bank of India has reportedly provided informal clearance for this transaction.

Emirates NBD will likely announce an open offer for additional shares from public shareholders prior to the preferential allotment. Post-acquisition, RBL Bank’s capital adequacy ratio is projected to reach 40%.

Published on October 19, 2025