14 Oct 2014
Royal Bank of Scotland (RBS) plans to exit the private banking business in India as the world's sale of its private banking sector Coutts, managing almost $ 36 billion of client assets in the market, including the part of Hong Kong, Singapore and international business decisions, Abu Dhabi ratio and Dubai.
"The bank is planning to sell private banking and wealth business, said:" In the know of development banker. "The first information report has not been distributed yet, but the line is expected to begin trading process in the coming months."
Royal Bank of Scotland Private Banking in India has four offices in Mumbai, Delhi, Bangalore and Chennai have 85 employees. Linda Harper, head of RBS media desk, e-mail response, said, "We have said that we are exiting our international business Coutts and the options under consideration, including sales, which will include other, joint ventures or the combined business may be sold, in order to reduce our footprint in the non-English-centered activities. "
She added, "We do not comment more than that."
The British bank, which the state holds a 81% stake following the 2008 bailout, is the pressure to consolidate its overseas business, and focus on the domestic market in order to support economic growth in the next. The British Government has proposed 45 one billion pounds of financial solutions to banks keep afloat in the global financial crisis.
After the Royal Bank of Scotland has been a Dutch bank three-way split part of the Indian assets of ABN AMRO was acquired and Banco Santander of Spain and Fortis of Belgium in 2007.
(RBI) Reserve Bank of India had opposed, the two separate entities, the Royal Bank of Scotland and RBS Coutts Bank of India business operations Netherlands RBS. View regulators are Coutts is the brand name used will effectively mean allowing banks to enter the back door of a separate entity and approval. Therefore, the Bank of England in the country's private banks Royal Bank of Scotland's private banking brand.
The Bank of England has consistently consolidate its overseas business. 2010, in order to meet the selection criteria sale of Asian assets relief in Australia and New Zealand Banking Corporation. In India, people are caught in a regulatory network.
Attempt to sell retail and commercial banking business in Hong Kong and Shanghai Banking Corporation (HSBC) in India due to regulatory barriers department scrapped. Last year it sold the business to the old generation private sector loans Ratnakar Bank.
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