Yes Bank in talks to buy RBS India units
A plan by RBS, majority owned by the UK government, to sell the Indian businesses to HSBC Holdings Plc fell through in November last year, more than two years after the two banks started negotiations.
Yes Bank, Indiaís fourth largest private sector lender with assets of nearly $11 billion, is likely to start a due diligence on the RBS unit soon, said the source, declining to be named as he was not authorised to speak to the media.
RBSís Indian unit has 31 branches, 4,00,000 customers and was profitable, with assets of £190 million ($306 million) and revenues of £42 million in the first nine months of last year, RBS said in a statement last November.
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