Yes Bank says interested in RBS India retail asset

MUMBAI Wed Jan 16, 2013 2:03pm IST

A logo of an Royal Bank of Scotland (RBS) is seen at a branch in London February 23, 2012. REUTERS/Stefan Wermuth/Files

A logo of an Royal Bank of Scotland (RBS) is seen at a branch in London February 23, 2012.

Credit: Reuters/Stefan Wermuth/Files

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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)

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