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
- Three major nations absent as China launches World Bank rival in Asia
- Microsoft sales beat Street hopes, cloud profits up
- Google commits to $1 billion in long-term office leases
- Rajaratnam's brother reaches insider trading deal with U.S. SEC
- Canada Parliament gunman had planned to travel to Syria - police
Microsoft Corp reported higher-than-expected quarterly revenue, helped by stronger sales of its phones, Surface tablets and cloud-computing products for companies, while keeping its margins intact. Read
Kalki Koechlin on her role as a disabled girl in “Margarita, With a Straw” Full Article