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DBS to acquire RBS on shore branch for 1000 crores

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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 ScotlandDBS to acquire RBS on shore branch for 1000 crores

  • 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