Chillin' out till it needs to be funded
RBS Asia got RBS off to a good start with the bank weeks away from shutting down the business of Corporate Investment Banking without bidders. Reuters report that more than 30 bidders have bid for various Asia Pacific assets. The early reports of Monday showed leading Australian banks interested in ourchasing the Australia unit including the ANZ group and CBA.
DBS in Singapore, and ABC in China have also been reumored to find the rBS portfolio in CIB and brokin ginteresting for a move into Asia investment Banking. RBC is a bidder. RBS is exiting cash equities, M&A Advisory and underwriting. According to ET NOw only 50 people
are employed by the unit in India
In 2009 , RBS had sold its Private Banking assets in Asia to two different bidders, splitting the portfolio between Stan C and HSBC especially because of banking regulator and liquidity concerns in India and Malaysia. Bank of china, Bsarclays and Mizhuo are eyeing parts of RBS in APAC
Its Aviation leasing business saw bids from Wells Fargo, Macquarie, China Development Bank and sumitomo Mitsui. Earlier GIC (TEmasek sister corp) bid for 20% of Avolon, another aircraft leasing operation in Asia