Amidst the reports that Royal Bank of Scotland (RBS)is in talks with three banks interested in buying its Asian retail and commercial banking assets, Hongkong and Sanghai Banking Corp (HSBC) has confirmed that it is looking into the development.
?We are certainly looking at the position,? said Stephen K Green, group chairman of HSBC Holdings Plc. According to a top official of the bank HSBC is yet to start due diligence for the acquisition. ?Clearly a number of their operations are in the areas where we have access,? Green said, present at an interaction in Kolkata.
Three banks namely Standard Chartered, Australia & New Zealand Banking Group and HSBC Holdings were reportedly in talks with RBS. Of these three Standard Chartered is understood to have submitted its interest with the bank.
RBS has planned to reduce to its core business and to exit or reduce the operations in 36 countries including . In India RBS will b exiting retail operations which are basically the branch network of ABN Amro which was taken over by the RBS last year. ?There are rumours that they have decided to shortlist two-three groups,? Green said.
?But we go into acquisitions when we are convinced of its value,? he said.