Mumbai, June 18 -- Emirates NBD on Thursday formally completed its Rs.26,015-crore acquisition of a 60% stake in RBL Bank, with the Dubai-based lender describing India as one of its most important growth markets for global financial institutions over the coming decades.

The transaction, the largest foreign direct investment in India's banking sector, makes Emirates NBD the promoter of the private lender.

Speaking at a ceremony in Mumbai, Emirates NBD group chief executive officer Shayne Nelson said India holds a "unique position" in the bank's emerging markets strategy, alongside the UAE, Saudi Arabia, Egypt and Turkey.

He cited India's rising incomes, urbanisation, digital infrastructure and young population as key drivers of long-ter...