Emirates NBD to Invest Up to $3.05 Billion in RBL Bank

Emirates NBD Bank PJSC will invest as much as $3.05 billion in Indian private lender RBL Bank Ltd., underscoring continued foreign investor interest in the south Asian nation’s financial sector.

The Dubai-based lender will hold about 60% in RBL Bank once the transaction is completed, according to a stock exchange filing on Saturday. Under the agreement, RBL Bank will issue as many as 959 million new shares at 280 rupees ($3.18) each, representing an 6.5% discount to Friday’s close, the filings showed.