DBS to acquire RBS on shore branch for 1000 crores

The leading South Asian bank DBS is set to acquire the on shore operations of RBS in India for a deal of 1000 crores.

RBS- Royal bank of Scotland

• Balance sheet-19000 crores
• Loan book value- 11,150 crores

Main parts of RBS operations

• Network of 10 branches
• Corporate loan platform
• Debt capital market

Points to note

• IDFC was also in the race to acquire RBS but later withdrawed from the deal
• Since Ross Mc ewan took charge as Chief executive of RBS, the bank sold all its assets across the world
• National Bank of Abu Dhabi (NBAD) bought RBS’s offshore loan book in India for $816.8 million (about Rs 5,422 crore)
• Currently the Development Bank of Singapore is likely to buy the onshore operations of RBS in India for 1000 crores
• The deal also includes the two NBFC’s managed by RBS

Points to know

• DBS MD –Shantanu Sengupta
• Headquarters of DBS- Singapore
• RBS MD-Ross Mc ewan
• Headquarters of RBS-Edinburgh