Posts tagged Jane Croft
StanChart and ANZ close in on RBS assets

Standard Chartered and Australia’s ANZ are close to buying part of RBS’s Asian banking assets in a deal that could be announced as early as next week. RBS, which reports first-half results on Friday, has been trying to sell retail assets that include 170 branches, with 28 in India and 13 in China, as it tries to shrink its balance sheet. StanChart has been interested in acquiring RBS units being sold in China, India and Malaysia, while ANZ is closing in on acquiring assets in Hong Kong, Taiwan, Singapore, Vietnam and Indonesia. The assets are expected to fetch about $1bn-$1.5bn (£600m- £900m) for the stricken UK lender.

FT Article