RBL Bank denies Emirates NBD stake acquisition reports

ByEnigma 808

RBL Bank denied media reports on Tuesday claiming that Emirates NBD Bank PJSC, the UAE’s second-largest lender, was in talks to acquire a controlling stake in the Indian bank. In a statement to stock exchanges, RBL Bank described the reports as “incorrect” and clarified that no such transaction is under discussion.

The bank acknowledged that it is exploring opportunities for growth and shareholder value but emphasized that these discussions do not require disclosure at this time. Earlier reports had suggested that Emirates NBD was considering a Rs 15,000 crore investment in RBL Bank, which would make it the largest shareholder. However, RBL Bank firmly denied these claims.

Following the news, RBL Bank’s shares surged by 3.3% to Rs 299.60 before closing 0.83% higher at Rs 292.40.

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    Besides writing and being a content creator, Enigma 808 sometimes likes to watch paint dry on walls, listening to ASMR while timing snails racing. Such is life.