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RBS to consider sale of ABN AMRO business in China

(Agencies)
Updated: 2009-03-04 18:43

Royal Bank of Scotland (RBS) said on Wednesday it plans to sell the retail and commercial banking businesses of newly-acquired ABN AMRO China, part of efforts to exit from these operations in Asia.

"In the interim period before the retail/commercial banking businesses are completely transferred to their new owner, we will ensure that the level of services our customers currently enjoy in these areas not be interrupted," RBS said in an e-mailed statement.

RBS added that China has been defined as a core market by the company's strategic review, so the bank will keep operations of RBS' Shanghai and Beijing branches, as well as some businesses of ABN AMRO China.