RBS to Shut its Cor­po­rate Banking Oper­a­tions Here

The Economic Times - - Companies -

Royal Bank of Scot­land (RBS) will close its cor­po­rate banking oper­a­tions in In­dia as part of a plan to sell or shut busi­nesses in two-thirds of the coun­tries it op­er­ates in, a per­son fa­mil­iar with the sit­u­a­tion said. RBS, which was briefly the world’s largest bank by as­sets, has spent the eight years since a 45 bil­lion pound ($64 bil­lion) gov­ern­ment bailout cut­ting costs and re­or­gan­is­ing. It is clos­ing the In­dian busi­ness af­ter fail­ing to find a buyer, the per­son told Reuters on Mon­day.

LON­DON

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