DBS Group Holdings is planning to acquire Royal Bank of Scotland Group’s Indian onshore operations for about Rs. 1,000 crore.
The transaction includes three main parts of RBS’ India operations a network of 10 branches, corporate loan platform and debt capital market, according to reports. RBS had a balance sheet of Rs 19,000 crore.
The sale also includes RBS’ stakes in two non-bank financial companies in India. It has a majority stake in one of the companies, both of which conduct little business but would bring buyers a licence to offer certain types of financing
- The Royal Bank of Scotland plc is one of the retail banking subsidiaries of The Royal Bank of Scotland Group plc, and together with NatWest and Ulster Bank, provides banking facilities throughout the UK and Ireland.
- DBS Bank Ltd is a Singaporean multinational banking and financial services company. The company was known as The Development Bank of Singapore Limited, before the present name was adopted in July 2003 to reflect its changing role as a regional bank.
So lets do:
- Who is the Chairman of Royal Bank of Scotland Group?
Source – economictimes