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India: Competition Commission clears DBS-RBS deal

By  |  May 16, 2016

Fair trade regulator CCI has approved financial services firm DBS Bank’s proposal to acquire the corporate loans business from Royal Bank of Scotland in the Indian market .

DBS India would buy certain corporate loans from Royal Bank of Scotland N V India Branches. In this regard, a portfolio sale framework agreement was entered into by the two entities in March this year.

Clearing the deal, CCI — which keeps a tab on unfair business practices across sectors — said it is not likely to have an adverse impact on competition in the country.

Both DBS and RBS provide various financial services, including in the areas of corporate and retail banking, in India.

“Through the proposed combination, RBS India is exiting the corporate loans segment. Currently, parties are active in the segment of corporate loans of India,” the watchdog said in an order last month citing notice submitted by DBS.

Full Content: Economic Times

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