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

Related Topics

Stocks

   

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)

FILED UNDER:

Reforms Push

REUTERS SHOWCASE

Reuters Exclusive

Reuters Exclusive

India looks to sway Americans with nuclear power insurance plan  Full Article 

To Boost Growth

To Boost Growth

Crank up public spending to revive growth - chief economic adviser.   Full Article 

Bold Steps

Bold Steps

SpiceJet rescue plan marks bold bet on Indian aviation recovery.   Full Article 

New Airline

New Airline

Tata, Singapore Air venture Vistara to take off on Jan 9.  Full Article 

Online Sales

Online Sales

Knock knock. Who's there? Amazon's best-selling holiday author.  Full Article 

26/11 Plotter

26/11 Plotter

Pakistan to challenge bail for Mumbai attack "mastermind".  Full Article 

Chinese Economy

Chinese Economy

China revises up size of 2013 economy, sees no effect on 2014 growth.  Full Article 

Reuters Poll

Reuters Poll

BSE Sensex to hit 32,980 by December 2015  Full Article 

Reuters India Mobile

Reuters India Mobile

Get the latest news on the go. Visit Reuters India on your mobile device  Full Coverage