RBL Bank Denies Report Of Stake Sale To Emirates NBD

RBL Bank on Wednesday dismissed media reports suggesting that Dubai-based Emirates NBD Bank is looking to acquire a minority stake in the private sector lender. The report is “incorrect and speculative in nature,” the bank said in a statement.

Earlier in the day, The Economic Times had reported that Emirates NBD was likely to invest in RBL Bank via a preferential allotment, potentially acquiring 15–20% of the expanded equity capital—similar to the recent Sumitomo Mitsui–YES Bank deal—subject to regulatory approvals.