RBS sells aircraft leasing business to help boost lending

Royal Bank of Scotland has struck a deal with a Japanese bank to sell its aircraft leasing division for $7.3bn (£4.7bn).

Royal Bank of Scotland has struck a deal with a Japanese bank to sell its aircraft leasing division for $7.3bn (£4.7bn).

The bank said the sale of RBS Aviation Capital to Sumitomo Mitsui Banking Corporation would strengthen its Tier 1 capital position and the proceeds would be used to reduce wholesale funding requirements and fund ongoing lending.

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