RBL Bank to merge Emirates NBD India branches, add ₹11,000 crore
Why in the news
RBL Bank’s MD & CEO R Subramaniakumar said on 25 October 2026 that absorbing the three Indian branches of Emirates NBD would enlarge the bank’s balance sheet by ₹10,000-11,000 crore. The Reserve Bank of India had approved the amalgamation on 16 October.
Key facts
- RBI approval: granted on 16 October 2026 for the scheme of amalgamation of the Indian branches of Emirates NBD Bank P.J.S.C. (transferor) with RBL Bank Limited (transferee).
- Legal provision: Sub-section (4) of Section 44A of the Banking Regulation Act, 1949.
- Effective date: 1 December 2026, from which the branches will work as RBL Bank branches.
- Size: the Emirates NBD India business is expected to be worth more than $1 billion (₹10,000-11,000 crore).
- FCNR(B) deposits: RBL mobilised $3.4 billion, with roughly 50% coming through the UAE-India corridor tied to Emirates NBD; a one-notch rating upgrade helped draw clients.
- Growth: balance sheet doubled since March 2022; book grew at 25% over the last three quarters; target CAGR of at least 20%.
| Item | Detail |
|---|---|
| RBI approval | 16 October 2026 |
| Effective date | 1 December 2026 |
| Branches merged | 3 |
| Expected addition | ₹10,000-11,000 crore |
| FCNR(B) raised | $3.4 billion |
About the deal
Emirates NBD Bank P.J.S.C. ran its Indian business through three branches, which RBL Bank will take over along with their client relationships. RBL also offers dollar accounts through its GIFT City branch. RBL said FCNR(B) these deposits add to net interest income but not to the net interest margin, and will remain on its books for three to five years.
Exam angle
- Approval route: Section 44A(4), Banking Regulation Act, 1949.
- Remember the effective date (1 December 2026) and the transferee bank (RBL Bank).
- FCNR(B) = Foreign Currency Non-Resident (Bank) deposits.