SA News • Mon, Aug. 11
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Mon, Aug. 11, 6:15 AM
- Royal Bank of Scotland (NYSE:RBS) is looking to sell Coutts International, its international arm of its private bank, Reuters reports.
- The bank has attracted several offers from a range of bidders for the international unit, including undisclosed Asian and North American parties for a business which manages roughly 40B Swiss francs ($44.2B) in client assets.
- Last year, Coutts International's operating profit stood at 103M francs excluding provisions, such as the U.S. tax crackdown affecting its Swiss arm.
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The Royal Bank of Scotland offers a full range of banking and related financial serves to around three and a half million personal and small business customers.
Country: United Kingdom
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