Yes Bank, IndusInd Bank looking to acquire Indian retail business of RBS
Yes Bank and IndusInd Bank are looking to acquire the Indian retail assets of Royal Bank of Scotland (RBS), according to reports.
The two banks are negotiating terms to acquire the Indian retail assets of the Scottish bank. Some people closer to the matter indicated that the two banks have expressed interest but there is no certainty that the deal will be finalized.
If the deal is finalized, RBS will finally be able to sell its Indian retail operations after trying for two years to find appropriate buyers. The UK based financial institution was recently able to sell its Asia business to Australia and New Zealand Bank.
RBS has received the Indian assets of ABN following a deal to split the Dutch bank after it was taken over along with Santander of Spain and Fortis of Belgium. Experts believe that if a domestic firm is able to acquire the domestic retail assets of the bank, it will offer an opportunity to acquire new customer base in the country. They said that the branch licences might also be transferred under the deal and this will benefit the player in the Indian market in a significant manner.