RBI approves merger of Emirates NBD’s Indian branches with RBL Bank from 1 December

The Reserve Bank of India has cleared the amalgamation of Emirates NBD Bank’s Indian branches into RBL Bank, with the merger taking effect on 1 December. The approval, announced on 16 October, comes days after the private lender posted a sharp jump in quarterly profit.

RBI clears branch merger

The central bank sanctioned the scheme under the Banking Regulation Act, 1949. “The effective date of the amalgamation shall be December 01, 2026,” the RBI said in its statement, according to ANI as carried by The Tribune. Emirates NBD runs three branches in India, in Mumbai, Chennai and Gurugram, and these will operate as RBL Bank branches from that date, Business Today reported. Neither report detailed any changes for customers or employees.

The step completes another stage of the Dubai lender’s takeover of RBL Bank. The deal was first announced in October 2025. Emirates NBD completed the purchase of a majority stake on 18 June 2026 through a primary capital infusion of about $2.75 billion (around ₹26,000 crore), giving it 60% of the enlarged share capital after a preferential allotment and a mandatory open offer. The parties have called it the largest foreign direct investment in Indian banking.

RBL Bank shares ended 1.10% higher at ₹378.25 on the NSE on 16 October, The Tribune reported.

Second-quarter results

On 12 October, RBL Bank reported standalone net profit of ₹482 crore for July–September, around 170% higher than a year earlier. Angel One, which cited consolidated figures, put net profit at ₹498.36 crore, up 158.9%.

• Net interest income: ₹2,131 crore, up 37% year-on-year; net interest margin 4.61%
• Operating profit: ₹1,396 crore, up 92%
• Deposits: ₹1,56,272 crore, up 34%
• Net advances: ₹1,42,314 crore, up 42%
• Gross NPA: 1.02% (2.32% a year ago); net NPA: 0.29%

Some outlets reported different headline growth numbers. Upstox, for example, put net interest income growth at 23% on a different base, and recorded a 53% rise in provisions to ₹767 crore. The figures above follow the bank’s stated net interest income as reported by Free Press Journal and Angel One.

The stock fell about 5.5% in early trade on 13 October, quoting at ₹394.75 at 10.10 am, according to Angel One. The lender’s capital adequacy stood at 30.1% at the end of September, Free Press Journal reported.

Sources: Business Today, The Tribune (ANI), Free Press Journal, Angel One, Upstox