2023 2024 EduVark > Education Discussion > Banks Related


  #1  
November 16th, 2017, 02:51 PM
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Ratnakar Bank Buys RBS

I got news that Ratnakar Bank buys select India businesses of RBS. I want to know about it in detail. So tell me from where I can get information about Ratnakar Bank buys select India businesses of RBS?
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  #2  
November 16th, 2017, 03:28 PM
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Join Date: Mar 2012
Re: Ratnakar Bank Buys RBS

Royal Bank of Scotland (RBS) has agreed to sell its business banking, credit cards business and mortgage portfolio to Kolhapur-based Ratnakar Bank.

The deal will result in 1.2 lakh customers of RBS, one of the world's largest banking groups till 2008.

The companies didn't disclose the valuation of the deal.

Employees of RBS associated with these businesses are proposed to be absorbed by Ratnakar Bank.

According to RBI data, RBS had 89,604 credit cards and 2,44,862 debit cards as of June 2013. The bank also had 35 on-site and 85 off-site ATMs.

The British bank will not be transferring its ATMs or offices but will consolidate 31 branches into 10 locations - Bengaluru, Chennai, Delhi, Gurgaon, Hyderabad, Kolkata, Mumbai, Noida, Pune and Vadodara.

The Kolhapur, Maharashtra-headquartered bank has a customer base of five lakh with a book of Rs.14,500 crore.


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