Royal Bank of Scotland could shift base to Netherlands after Brexit
The Dollar Business Bureau The Chief Executive of Royal Bank of Scotland (RBS), Ross McEwan, revealed today that they are in discussions with the Dutch Central Bank to use it as a base after Britain exits the European Union. McEwan revealed today that RBS plans to build its Amsterdam unit which was acquired after RBS bought ABN-Amro in 2008. Though presently the staff at Amsterdam are only a handful, the bank plans to increase the staffing size to 150. McEwan told reporters, "Setup costs will be in the low tens of millions, running costs also in the low tens of millions.” RBS in its half-year report said, "NatWest Markets has reviewed ways to minimise disruption to the business and continue to serve its ...
RBS to close down Indian operations
The Dollar Business Bureau After crucially examining the number of options for survival in India, the Royal Bank of Scotland, largest state-owned bank of Britain, has decided to shut down its operations in India. Excluding its back office which supports the global network, RBS decided to end the Indian operations due to losses. While confirming the news, the bank’s spokesperson confirmed that the closure of branches has already begun and customers are being informed about the shutdown. The retail banking branches will be closed in a phased manner. A spokesperson from the Bank revealed that the onshore loans portfolio have been sold. The exit of the bank from retail, corporate and institutional businesses has been planned in a phased manner. The bank started informing its ...
