Emirates NBD closes deal to buy India's RBL Bank

Emirates NBD has completed its acquisition of a majority stake in India’s RBL Bank through a primary capital infusion of about $2.75 billion, or nearly 260 billion rupees, marking one of the largest cross-border banking deals in India.

- BY NIVETHA DAYANAND Assistant Business Editor

The transaction gives Emirates NBD 60 per cent of the expanded share capital of RBL Bank and strengthens the Dubai lender’s long-term presence in one of the world’s fastest-growing major economies.