RBL Bank Taps Emirates NBD Network to Expand NRI and Gulf Business
RBL Bank is planning to leverage the international network of Emirates NBD to expand its corporate banking, trade finance, NRI banking and cross-border business in India and the Gulf region. RBL Bank MD and CEO R Subramaniakumar said the partnership will allow the bank to access customer relationships and transaction flows that would otherwise take considerably more time and resources to build.
The partnership has already generated significant business through the mobilisation of $3.4 billion in FCNR(B) deposits, supported by Emirates NBD and its affiliates. RBL Bank has extended approximately ₹10,300 crore in loans against these deposits.
The bank is developing an integrated proposition for companies operating between India and the Gulf Cooperation Council (GCC). This includes originating credit in India, supporting corporate expansion and following customers into international markets. GCC-based businesses investing in India could similarly access RBL Bank’s domestic banking services while retaining their overseas banking relationships.
NRI banking is another major focus. RBL Bank plans to serve NRIs already banking with Emirates NBD, particularly by connecting their financial requirements in India with their existing overseas banking relationships.
The bank has identified four key business flows—trade, movement of people, capital and remittances—as opportunities for expansion. The strategy could eventually extend beyond the Gulf to markets including Singapore, Egypt, Turkey and the UK, where Emirates NBD has a presence.
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