Emirates NBD emerged as a potential buyer of a majority stake in India’s IDBI Bank

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Emirates NBD emerged as a potential buyer of a majority stake in India’s IDBI Bank

Emirates NBD has emerged as a potential buyer of a majority stake in India’s IDBI Bank. According to reports in Indian media, Emirates NBD and Canada’s Fairfax Group submitted an expression of interest (EOI) earlier this week to purchase the 60.7 percent majority stake offered by the Government of India and Life Insurance Corporation of India.

The announcement comes just days after it was revealed that Abu Dhabi-based First Abu Dhabi Bank (FAB) seriously considered buying Standard Chartered Bank before pulling out. In a tweet on Saturday, the Secretary, Department of Investment and Public Asset Management (DIPAM), Ministry of Finance, stated that the government had received multiple expressions of interest (EOIs) for IDBI Bank and that the sale process is now expected to move to the second stage.

Sreejit Kumar
Sreejit Kumar
Hi, I'm Sreejit Kumar, a journalist with a Master's degree in Journalism. Through my education and professional experience, I have developed a keen eye for detail and a passion for uncovering the truth. As an author for this news website, I am committed to delivering accurate, timely, and engaging stories that inform and entertain our readers.

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Emirates NBD has emerged as a potential buyer of a majority stake in India’s IDBI Bank. According to reports in Indian media, Emirates NBD and Canada’s Fairfax Group submitted an expression of interest (EOI) earlier this week to purchase the 60.7 percent majority stake offered by the Government of India and Life Insurance Corporation of India.

The announcement comes just days after it was revealed that Abu Dhabi-based First Abu Dhabi Bank (FAB) seriously considered buying Standard Chartered Bank before pulling out. In a tweet on Saturday, the Secretary, Department of Investment and Public Asset Management (DIPAM), Ministry of Finance, stated that the government had received multiple expressions of interest (EOIs) for IDBI Bank and that the sale process is now expected to move to the second stage.

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Sreejit Kumar
Sreejit Kumar
Hi, I'm Sreejit Kumar, a journalist with a Master's degree in Journalism. Through my education and professional experience, I have developed a keen eye for detail and a passion for uncovering the truth. As an author for this news website, I am committed to delivering accurate, timely, and engaging stories that inform and entertain our readers.

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