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

 |  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.

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


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