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RBS to sell some business in Malaysia – report

Posted on: April 29, 2009


Reuters – Friday, April 17

KUALA LUMPUR, April 17 – Royal Bank of Scotland <RBS.L> is going to sell its retail and commercial businesses in Malaysia, a newspaper said on Friday, citing a source close to the bank.

The bank will retain its corporate banking business, according to the Edge newspaper.

RBS Malaysia could not be immediately reached for comment.

Last month, Singapore’s Business Times quoted RBS chairman Philip Hampton as saying the bank was looking to sell some of its businesses in Singapore, Malaysia, Indonesia, Hong Kong, China, India, Taiwan and Pakistan.

At the time he did not identify potential buyers or prices.

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