Why nbd Is Trending Today?

Emirates NBD, a leading bank in the Middle East, is set to invest $3 billion for a 60% stake in RBL Bank, India's private sector lender. The deal, valued at ₹26,850 crore, has received approval from local shareholders and is awaiting regulatory nods. RBL Bank plans to expand its wealth management business post the deal, with the first tranche of capital expected within 5-7 months after regulatory approvals. However, the Employees' Union of RBL Bank has protested the takeover, citing concerns about foreign capital in Indian banking. The Reserve Bank of India (RBI) has been softening its stance on foreign banks, with this deal following a similar trend seen in the Sumitomo-Yes Bank deal.