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StanChart, ANZ in talks to buy RBS units

StanChart, ANZ in talks to buy RBS units
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First Published: Thu, Jul 02 2009. 12 14 AM IST
Updated: Thu, Jul 02 2009. 12 14 AM IST
Hong Kong: Standard Chartered Bank (StanChart) is in talks to purchase assets in China and India owned by Royal Bank of Scotland Group Plc. (RBS), a person with direct knowledge of the matter said on Wednesday.
StanChart’s pursuit of the units comes as RBS tries to wrap up the sale of its retail and commercial banking divisions in Asia.
Australia & New Zealand Banking Group Ltd (ANZ), Australia’s fourth largest lender, is in advanced negotiations to acquire RBS’ retail and commercial-banking units in Hong Kong, Taiwan, Singapore, Vietnam and Indonesia, said three people familiar with the plan.
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First Published: Thu, Jul 02 2009. 12 14 AM IST