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EY India acted as the exclusive M&A advisor to Emirates NBD Bank (P.J.S.C.) for the acquisition of a controlling stake in RBL Bank.
EY has successfully advised Emirates NBD Bank (P.J.S.C.) in its acquisition of a controlling stake in RBL Bank.
Key highlights:
- Largest ever foreign direct investment (FDI) in the Indian financial services sector
- Largest ever equity fundraise in the Indian banking sector
- Largest fundraise via preferential issuance by a listed company in India
- First acquisition of majority interest in a profitable Indian bank by a foreign bank
Emirates NBD Bank (P.J.S.C.) is a leading banking group in the MENAT (Middle East, North Africa and Türkiye) region with a presence in 13 countries, serving over 9 million active customers. ENBD is a public joint stock company incorporated in the United Arab Emirates (UAE) and is currently listed on the Dubai Financial Market with a market capitalization of approximately US$43 billion (as of 17 October 2025). ENBD is 56% owned by the Dubai Government through the Investment Corporation of Dubai and Dubai Holding Group.
RBL Bank is one of India’s leading listed private sector banks with a legacy of over 80 years. RBL Bank is listed on NSE and BSE with a market capitalization of INR18,371 crore (approximately US$2.1 billion) as of 17 October 2025.