UAE billionaire NRI buys Indian bank stake - Emirates 24/7:
"UAE-based Indian businessman M A Yousuf Ali has increased his presence in the Indian banking sector by purchasing a 4.47 per cent stake in a private bank in the southern state of Kerala from Dubai-based Emirates Financial Services, a subsidiary of Emirates NBD
Speaking to Emirates 24|7, M A Yousuf Ali said the transaction was completed last week. He said he is keen to support Kerala-based Indian banks as he wants to have a strong presence in Kerala.
A month after a controversy erupted in Kerala about his Bolghatty Convention Centre project in Kochi and the opening of India’s largest shopping mall ‘Kochi Lulu’, Yousuf Ali seems to be showing his financial muscle power by purchasing shares in leading Kerala banks like Catholic Syrian Bank (CSB)."
'via Blog this'
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