RBS exits India to shrink non-core assets

Royal Bank of Scotland (RBS) is no longer selling its Indian retail and commercial banking operations to HSBC. Instead, it will be winding down what was a profitable business.

Royal Bank of Scotland (RBS) is no longer selling its Indian retail and commercial banking operations to HSBC. Instead, it will be winding down what was a profitable business.

RBS agreed to sell the business to HSBC in July 2010, but the deal lapsed on Friday November 30th. The Indian operations are profitable and in the nine-month period to September 30th generated revenue of £42m.

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