Yes Bank in talks to buy RBS India units
- Malaysia Airlines plane with 5 Indians onboard missing, presumed crashed off Vietnam coast
- Bharatiya Janata Party releases second list of candidates for Lok Sabha elections
- No compromise with live-ins or gay rights, moral values supreme: RSS
- In Mumbai, new warship system malfunctions, Navy officer killed
- I'm not a terrorist, Modi should have met me: Arvind Kejriwal
Yes Bank Ltd is in talks to buy the local retail and commercial banking operations of Royal Bank of Scotland Group Plc (RBS), a source with direct knowledge of the matter said on Tuesday.
A plan by RBS, majority owned by the UK government, to sell the Indian businesses to HSBC Holdings Plc fell through in November last year, more than two years after the two banks started negotiations.
Yes Bank, India's fourth largest private sector lender with assets of nearly $11 billion, is likely to start a due diligence on the RBS unit soon, said the source, declining to be named as he was not authorised to speak to the media.
RBS's Indian unit has 31 branches, 4,00,000 customers and was profitable, with assets of £190 million ($306 million) and revenues of £42 million in the first nine months of last year, RBS said in a statement last November.
- Chai pe Charcha gets police protection, EC officials to check on poll norm violation
- Complaint against Kejriwal: Kutch cops gather evidence
- AAP chief to hold first public meeting in Gujarat today
- Nominations for North Bangalore primary begin
- ‘Our campaigning in the state will be out of the box’
- ‘Aai Retire Hotey’ to take the stage for 100th time today