Royal Bank of Scotland is set to split its Asian business after its attempts to auction it as a single unit failed, reported the Sunday Times. Over the recent weeks, a series of regulatory hurdles have hampered the bank’ efforts to sell its operations across China, India and Southeast Asia, into one single business.
Australia & New Zealand Banking Group was the leading contender last month, after Standard Chartered and HSBC backed out from the race. However, the Australian banking giant was more interested in purchasing individual operations.
Earlier, RBS had said that it would favour a pan regional bidder but would not rule out other alternatives.
