What is Emirates NBD Group’s USD 2.25 billion financing deal announced in 2026?

Emirates NBD Group successfully closed USD 2.25 billion in long-term financing, comprising a USD 1.75 billion five-year sustainability-linked syndicated term loan arranged by Emirates NBD and a USD 500 million five-year Club Commodity Murabaha term facility arranged by Emirates Islamic. Together, the facilities represent one of the largest syndicated borrowings in the GCC region.

How was Emirates NBD’s USD 1.75 billion sustainability-linked syndicated loan structured?

The sustainability-linked loan was structured as a five-year syndicated term facility aligned to sustainability performance metrics. Initially launched at USD 1 billion, strong international demand resulted in oversubscription of more than two times, allowing the facility size to be increased to USD 1.75 billion.

Why was Emirates NBD’s sustainability-linked loan oversubscribed by global investors?

The oversubscription reflects strong global investor confidence in Emirates NBD’s credit strength, supported by its solid balance sheet, disciplined financial management, and established track record in accessing international capital markets.

What are the key benefits of this long-term USD financing for Emirates NBD Group?

The transaction strengthens the Group’s liquidity position, diversifies its funding sources, enhances its long-term USD funding profile, and supports the execution of Emirates NBD Group’s strategic growth ambitions while enhancing shareholder value.

How does the USD 1.75 billion sustainability-linked loan support Emirates NBD’s strategy?

The facility supports Emirates NBD’s strategy by providing long-tenor USD funding at competitive pricing, reinforcing the Group’s commitment to sustainable finance and enabling continued investment in long-term growth priorities.

What does the oversubscription of Emirates NBD’s syndicated loan indicate about its credit profile?

The strong oversubscription indicates high levels of international lender confidence in Emirates NBD’s credit quality, resilience, and future prospects despite a challenging regional and global environment.

How did Emirates NBD achieve tight pricing despite volatile market conditions?

Despite global and regional market challenges, the sustainability-linked loan achieved the tightest pricing in Emirates NBD’s history for a syndicated loan, reflecting strong lender appetite, effective execution, and the Group’s standing as a preferred counterparty.

Why do international banks participate in Emirates NBD’s syndicated financings?

International banks participate due to Emirates NBD’s strong balance sheet, transparent governance, and the UAE’s robust regulatory framework, all of which underpin confidence in the Group as a long-term partner.

Is this one of the largest syndicated loan transactions in the GCC banking sector in 2026?

Yes. The combined USD 2.25 billion financing represents one of the largest syndicated borrowings in the GCC region in 2026.

How does this transaction reflect the UAE’s financial sector resilience?

The strong participation from 15 financial institutions across the Americas, Europe, and Asia highlights continued confidence in the UAE’s economic resilience, regulatory environment, and its banking sector’s access to global liquidity.

How does Emirates NBD compare to other regional banks in accessing international capital markets?

The transaction reinforces Emirates NBD’s established presence in international loan markets and demonstrates its ability to consistently access diversified global funding sources at competitive terms.

What is a Club Commodity Murabaha facility?

A Club Commodity Murabaha facility is a Shariah-compliant financing structure commonly used in Islamic banking, where funds are provided through commodity-based transactions in accordance with Islamic principles.

How did Emirates Islamic structure its USD 500 million Club Commodity Murabaha facility?

Emirates Islamic arranged a USD 500 million five-year Club Commodity Murabaha term facility, achieving highly competitive pricing among regional Islamic peers and completing the transaction within an accelerated timeframe.

How does Emirates NBD Group integrate conventional and Shariah-compliant financing?

Through its dual-banking model, Emirates NBD Group combines conventional financing solutions with Shariah-compliant structures via Emirates Islamic, enabling it to serve a broad range of institutional and investor needs.

Why is Emirates NBD Group considered a leader in Shariah-compliant sustainable finance?

The Group has a strong track record in integrating sustainability with Islamic finance, including Emirates Islamic’s issuance of the world’s first sustainability-linked financing sukuk in 2025 and continued leadership in Shariah-compliant funding solutions.

What is a sustainability-linked loan?

A sustainability-linked loan is a financing structure where pricing or terms are linked to the borrower’s achievement of predefined sustainability performance targets, aligning financing with ESG objectives.

How does sustainability-linked financing support long-term banking strategies?

Sustainability-linked financing aligns funding strategies with ESG commitments, supports responsible growth, and strengthens engagement with global lenders increasingly focused on sustainable finance frameworks.

How is Emirates NBD embedding sustainability into its capital markets activity?

Emirates NBD integrates sustainability considerations across its financing activities, supported by its leadership in sustainability reporting, sustainable finance structures, and ESG-aligned funding instruments.

How many financial institutions participated in the transaction?

The combined transaction attracted participation from 15 financial institutions across the Americas, Europe, and Asia.

Which institutions acted as coordinators on the transaction?

Bank of America, BNP Paribas, DBS Bank Limited, and Emirates NBD Capital Limited acted as Coordinators, Book-Runners, and Sustainability Coordinators on the Emirates NBD transaction. Emirates NBD Capital Limited acted as sole coordinator for the Emirates Islamic transaction.

Why is this transaction strategically important for Emirates NBD Group?

The financing reinforces Emirates NBD Group’s leadership in global and regional loan markets, strengthens liquidity and funding diversification, and supports the Group’s long-term strategic growth objectives.

Emirates NBD Receives All Regulatory and Governmental Approvals, Paving the Way for Completion of the Landmark RBL Transaction

3 Min | 15 May 2026

Dubai, UAE, 15 May 2026: Emirates NBD, a leading banking group in the Middle East, North Africa and Türkiye (MENAT) region, is pleased to announce that, with the receipt of the approval of the Government of India, all requisite regulatory and governmental approvals for Emirates NBD’s landmark acquisition of a majority controlling stake in RBL Bank Limited (RBL) have been received. This milestone clears the path for the imminent completion of a transaction that represents one of the most significant cross-border investment in India’s financial services sector.

First announced on 18 October 2025, Emirates NBD’s investment of approximately USD 3 billion (~INR 268.5 billion) in RBL represents the largest equity fund raise in the Indian banking sector, and the milestone acquisition of majority interest in a profitable Indian bank by a foreign banking institution.

The receipt of all the approvals is an affirmation of the strong bi-lateral relationship between the UAE and India. Emirates NBD is grateful for the support shown by the Governmental and regulatory authorities in both the UAE and India. UAE’s endorsement reflects the country’s commitment to far-sighted leadership and their confidence in Emirates NBD’s international expansion strategy. India’s regulatory and governmental institutions have demonstrated an extraordinary commitment to welcoming transformative, long-term foreign investment into India’s financial sector. Today’s approval marks a historic milestone that underlines India’s position as the pre-eminent destination for global capital and the Government’s determination to build a financial ecosystem worthy of the world’s fastest-growing major economy.

Building on the strong people, trade, and investment flows between India and the Gulf region, and aligned with Emirates NBD’s strategy to be a leading banking group across the Middle East, North Africa, Türkiye and South Asia (MENATSA) region, Emirates NBD has identified India as a key market for the continued expansion of its international operations. A presence in India through a well-established institution such as RBL Bank would further complement and strengthen Emirates NBD’s ability to serve its customers in the UAE and across its wider network.

His Highness Sheikh Ahmed bin Saeed Al Maktoum, Chairman of Emirates NBD, said: “Emirates NBD continues to accelerate development across our network and deepening our presence in high-potential regional markets such as India. We extend our appreciation and gratitude to the wise and visionary leadership of India and the UAE who have enabled the completion of this remarkable milestone. The successful accomplishment of this milestone acquisition underscores the strategic and long-standing relationship with the country, mirroring the UAE’s own strategic and business cooperation. We look forward to expanding our presence in the nation and serving our customers by unlocking the next chapter of Emirates NBD’s growth and impact.”

Hesham Abdulla Al Qassim, Vice Chairman and Managing Director, Emirates NBD, said: “Approval of the Government of India marks an important milestone for Emirates NBD, and we are grateful to the Government and the regulatory institutions who have engaged with this transaction, making it possible for us to commence the integration of RBL Bank into the wider Group. We especially thank the UAE’s wise leadership, inspired by their vision of accelerating growth, economic diversification and global competitiveness. Emirates NBD is committed to being a long-term partner in India's growth, bringing capital, capability and connectivity to support the opportunities ahead.”

Shayne Nelson, Group CEO, Emirates NBD, said: “We are pleased to have received the Government of India’s approval for Emirates NBD’s landmark acquisition of RBL Bank. We thank the Government and regulatory institutions involved in the transaction for their engagement and oversight during this process. This moment also reflects the strategic vision of the UAE’s leadership, which has long recognised India's potential and championed deeper economic ties between our two nations. This approval positions Emirates NBD at the centre of a critical trade, wealth and investment corridor, cements our ability to serve customers across two of the world’s most dynamic economies and strengthen financial flows between the two countries.”

About the Transaction

Pursuant to the Investment Agreement dated 18 October 2025, Emirates NBD will subscribe to up to 959,045,636 fully paid equity shares of RBL Bank at ₹280 per share through a preferential issue, representing approximately 60% of RBL Bank’s post-issue paid-up share capital. Emirates NBD’s final shareholding is expected to range between 51% and 74% of total paid-up share capital, subject to compliance with applicable foreign ownership limits and the conclusion of the mandatory open offer process.

The transaction further envisages the eventual amalgamation of Emirates NBD’s India branch operations in Mumbai, Chennai, and Gurugram into RBL Bank, subject to receipt of further regulatory clearances as required. Upon completion, Emirates NBD will be classified as the promoter of RBL Bank, which will operate as a foreign bank subsidiary under the framework of the Reserve Bank of India.