Yes Bank says interested in RBS India retail asset
MUMBAI (Reuters) - Mid-sized Indian private sector lender Yes Bank (YESB.NS) is interested in acquiring Royal Bank of Scotland Group Plc's (RBS) (RBS.L) India retail assets, but has not done a due diligence as of now, its Chief Executive Rana Kapoor said on Wednesday.
The bank will pursue acquisition of retail banking assets as part of its growth strategy, he told reporters, after the bank announced its quarterly earnings.
Yes Bank is in talks to buy the local retail and commercial operations of Royal Bank of Scotland Group Plc, a source with direct knowledge of the matter told Reuters on Tuesday.
When asked about possible acquisition of RBS India assets, Kapoor said Yes Bank, which earlier announced a 34.7 percent jump in its December quarter earnings, would be "receptive" to such opportunities to boost its retail network.
(Reporting by Swati Pandey; Editing by G.Ram Mohan)
- Tweet this
- Share this
- Digg this
- UPDATE 7-U.S. says Russia must pull convoy from Ukraine or face more sanctions
- U.S. strikes have slowed Iraq militants but not weakened them - Pentagon
- U.S. urges Moscow to immediately withdraw convoy from Ukraine
- CANADA STOCKS-TSX slips after Yellen comments, Ukraine tensions
- Liverpool won't change attacking style says Rodgers
More than 70 percent of Indians are satisfied with the leadership of Prime Minister Narendra Modi since he took office nearly three months ago, an opinion poll showed, seeing in him the best hope to put the economy back on track. Full Article
India to hike iron ore royalty, miners may struggle to pass on extra cost. Full Article