The interest of overseas banks in mid-sized Indian banks is clearly visible with the recent takeover offer by Dubai-based Emirates NBD for RBL Bank. The valuations attributed to the Indian mid-sized banks by overseas players appear reasonable and broadly reflect the position of the respective Indian entity in the local banking system.

Emirates NBD will invest in a preferential offer to gain up to 60 % stake in RBL Bank at Rs 280 per share. In addition, there is an open offer at Rs 280 per share. This acquisition has been done at about 1.1 times RBL Bank’s book value for FY 25. It is understood that Emirates NBD will invest up to $ 3 billion to gain up to 60 % stake in RBL Bank.

And Japan-based SMBC had also acquired a 24.2% stake in Yes Bank at the end of the September 2025 quarter

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