Emirates NBD from Dubai Gets Permission to Open a Fully Owned Branch in India
India’s central bank has given Emirates NBD permission, in principle, to set up a fully owned branch in the country, according to a statement released on Monday.
Emirates NBD in India
Emirates NBD is the biggest bank in Dubai by assets. It has branches in Chennai, Gurugram, and Mumbai in India.
The Reserve Bank of India has given permission for Emirates NBD to change these branches into a fully owned local company. This will make the bank work like Indian banks and give it more control under local rules.
The central bank said it will give the final license once Emirates NBD meets certain requirements.
Right now, foreign banks in India only work through branch offices and do not have fully owned local companies.
Emirates NBD is ranked sixth on Forbes Middle East’s list of 30 Most Valuable Banks in 2025 and also sixth on the Top 100 Listed Companies in 2024.
Background
Emirates NBD’s total income grew by 11% in the first quarter to $3.2 billion (AED 11.9 billion), helped by better deposits and new products. But its net profit dropped by 7% to $1.7 billion (AED 6.2 billion).
In March, Emirates NBD made an agreement with BlackRock to create an investment platform. This will help the bank’s wealthy clients invest in private credit and other special assets.
The bank’s asset management team will start by offering income and growth plans for rich investors in the UAE.
BlackRock will help Emirates NBD by giving marketing support, training, education, and technology to grow its private market investments.
This partnership aims to give more clients in the Middle East access to different types of investments.
Published: 20th May 2025
For more article like this please follow our social media Facebook, Linkedin & Instagram
Also Read:
UAE to investments $440B in US energy by 2035
Syria to print money in UAE, Germany amid improved ties
Syria, DP World ink $800M deal to upgrade Tartous Port
