For Quick Alerts
ALLOW NOTIFICATIONS  
For Daily Alerts

    HSBC's proposed acquisition of RBS India assets collapses

    By Religare
    |
    HSBC's proposed acquisition of RBS India assets collapses
    HSBC has cancelled the proposed acquisition of the Indian retail & commercial banking operations of Royal Bank of Scotland after negotiations failed to result in a deal in time for a deadline on Friday.
     

    Earlier, in July 2010, HSBC had agreed to buy few selected assets of RBS India for a premium of USD 95 million. The Reserve Bank of India had given a conditional approval to the deal in December 2011, where in it declined transfer of RBS bank branches to HSBC.

    Meanwhile, RBS, which is 82 per cent-owned by the British government, will instead wind down its retail and commercial banking business operations in India as part of winding down its non-core assets globally.

    Read more about: hsbc rbs
    Company Search
    Enter the first few characters of the company's name or the NSE symbol or BSE code and click 'Go'

    Find IFSC

    We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Goodreturns sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Goodreturns website. However, you can change your cookie settings at any time. Learn more