Oh how the mighty RBS has fallen!
Royal Bank of Scotland is believed to be in talks with a number of parties regarding the sale of assets worth up to £3 billion. Predominately consisting of the company's Asian market exposure, Royal Bank of Scotland is in talks with HSBC and other banking institutions with a likely announcement due soon to confirm the company has shed more assets to concentrate on its UK operation. Oh how the mighty have fallen!
Only a couple of years ago Royal Bank of Scotland was arguably the largest bank in the world with operations around the globe and a particularly heavy presence in the US. However, the ongoing banking crisis forced the company to go cap in hand to the UK government to bail it out, in exchange for giving up the majority of shares in the company. While there is no doubt that the company is slowly moving towards a more stable outlook, we can expect more asset disposals in the short term as the size of Royal Bank of Scotland continues to fall.
Many believe that Royal Bank of Scotland is a perfect reflection of overexpansion at a time when the worldwide banking sector was too competitive and due for a fall. However, the company is now backtracking and more asset disposals are most certainly on the way.
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