Mumbai, Oct 14 – RBL Bank responded to rumors that the UAE’s Emirates NBD was preparing to buy a controlling share in the Indian bank. The Mumbai‑listed lender said the story was wrong and that no such deal is being discussed.
In a statement to the Bombay Stock Exchange, the bank emphasized it is on a growth path and regularly looks for ways to boost shareholder value, but any talks at this stage do not require a share‑disclosure under Regulation 30.
Earlier reports claimed Emirates NBD would invest about ₹15,000 crore and become the biggest owner, but RBL Bank said that was “incorrect.” After the rumors broke, the stock jumped more than 3 percent to ₹299.60 during the day – the highest level since January – and closed up 0.83 percent at ₹292.40.
India allows foreign investors to own up to 74 percent of a private‑sector bank, but a single foreign company can take no more than 15 percent unless the Reserve Bank of India clears it. In recent years, overseas players have stepped into Indian banks, such as Japan’s Sumitomo Mitsui Banking Corporation, which now owns 24 percent of Yes Bank after buying a 20 percent stake from the State Bank of India and others.
RBL Bank remains focused on expanding its business and creating value for shareholders. The bank reiterated that it has no talks with Emirates NBD about a stake purchase and will inform the exchanges of any material events per the listing rules.
Source: ianslive
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