India's RBL Bank Eyes Wealth Business After $3.05 Bn Emirates NBD Deal 📈

• Middle Eastern bank Emirates NBD is acquiring a 60% stake in India's RBL Bank for approximately US$ 3.05 Bn (₹268.53 Bn) through a preferential issue of shares. • This marks the largest cross-border acquisition in the Indian financial sector. • Post-investment, RBL Bank aims to establish a wealth management business and transition into a "large bank," according to CEO R Subramaniakumar. • RBL will become a listed subsidiary of Emirates NBD, with the merger effective from April. • The first funding installment is expected within five to seven months, while RBL's current management team will remain during the transition.