Reuters reports that Yes Bank is in talks to buy RBS' Indian unit

15th Jan 2013 12:26

India's fourth largest private lender, Yes Bank, is reportedly in talks to buy the local retail and commercial operations of Royal Bank of Scotland, according to a Reuters article citing an unnamed source.Yes Bank has assets worth almost $11bn and, according to the source, is likely to start due diligence on the RBS unit soon. Last year, a plan by RBS to sell its Indian business to HSBC collapsed following negotiations which had stretched over two years.RBS is understood to be scaling back its international operations.Noone was available to comment at RBS when ShareCast contacted the press office. ShareCast was unable to contact anyone at Yes Bank.RF