RBS Begins Sale Process

Royal Bank of Scotland Plc. (RBS) has started the sale process of ABN Amro Bank NV’s retail and commercial banking assets in Asia, including India, reports Mint. They have sent an information memorandum to three prospective buyers—Australia and New Zealand Banking Group Ltd, Standard Chartered Bank Plc., and Hongkong and Shanghai Banking Corp. Ltd, Mint reports quoting a person familiar with the development. Investment bank Morgan Stanley is managing the RBS sale across Asia.