Emirates NBD remains an active contender in the process to acquire a stake in IDBI Bank, even after announcing a $3bn agreement for purchasing a 60% holding in RBL Bank, reported CNBC-TV18 citing undisclosed sources.  

Sources indicated that the Dubai-based lender has not exited the IDBI Bank sale process, maintaining interest alongside other bidders due to the bank’s size, its connections to government business, and relationship with Life Insurance Corporation of India (LIC). 

The Indian government is working towards finalising the transfer of its share in IDBI Bank by the close of the 2025–26 financial year.  

Bidders identified so far include Fairfax Financial Holdings, Emirates NBD, Kotak Mahindra Bank, and Oaktree.  

According to Financial Express, Kotak Mahindra reportedly completed the due diligence for acquiring the stake of the government in IDBI bank.  

Presently, the Indian government owns 45.48% of IDBI Bank, while LIC has 49.24%.  

Plans are in place for a joint divestment amounting to 60.7% of the bank’s shares, 30.48% owned by the government and 30.24% by LIC.  

After the divestment, the central government would retain about 15%, and LIC would keep around 19%. 

In response to requests for clarification on Emirates NBD’s position, CNBC-TV18 has contacted the bank. 

Recently, RBL Bank disclosed that Emirates NBD will be launching an open offer for public shareholders on 12 December 2025.  

This offer will cover as many as 415,586,443 shares, representing a 26% stake in RBL Bank—at Rs 280 ($3.16) per share.  

The step follows Emirates NBD’s announcement last month regarding its intention to secure a 60% stake in RBL Bank through its Indian subsidiary, which will integrate with RBL Bank following the completion of the purchase.