A PYMNTS Company

HSBC cleared to buy RBS retail and commercial banking businesses in India

By  |  April 29, 2012

The Competition Commission of India has approved HSBC’s proposed acquisition of Royal Bank of Scotland’s retail and commercial banking businesses, as well as the wealth management business of RBS Financial Services in India. The CCI found that HSBC and RBS have relatively few brances in India, and that there were sufficient coompetitors in the market. HSBC and RBS have 81 branches in India.

    Get the Full Story

    Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required.

    yesSubscribe to our daily newsletter, PYMNTS Today.

    By completing this form, you agree to receive marketing communications from PYMNTS and to the sharing of your information with our sponsor, if applicable, in accordance with our Privacy Policy and Terms and Conditions.

    The deal was estimated in July 2010 to be worth $1.8 billion. RBS will keep its wholesale and investment banking businesses in India.

    Full content: Economic Times

     

    Related content: Banking Regulatory Reform: “Too Big to Fail” and What Still Needs to be Done (Abel Mateus, Universidade Nova de Lisboa, Global Economics Group)

     

    Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.