Mumbai, Oct 19 (HS): RBL Bank expects the USD 3 billion investment from Emirates NBD Bank the largest foreign direct investment (FDI) in India’s financial services sector to be completed by June 2026, pending regulatory and government approvals, a top executive said on Sunday.

As part of the deal, RBL Bank will merge with Emirates NBD’s wholly owned Indian subsidiary to form a “listed foreign bank subsidiary,” the management announced.

“Our aspiration is to grow multi fold, and the capital will help. We are now a mid-sized small bank. Our goal is to move into the league of large banks,” RBL Bank Managing Director and CEO R. Subramaniakumar told reporters in Mumbai.

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Hindusthan Samachar / Jun Sarkar