RBS Considers Sale Of Asia Corporate Banking Business : Report

(RTTNews) - Royal Bank of Scotland Group Plc (RBS, RBS.L) is looking to put most of its Asian corporate banking business up for sale, Bloomberg reported citing a person familiar with matter.

The report said that the Chief Executive Officer Ross McEwan would be holding a series of meetings in Singapore on Sunday to consider ways to scale back the lender's Asian business. The lender said last month that it's shutting its Japanese trading business.

Quoting the person, the report indicated that the bank has about 2,000 employees in the Asia-Pacific region that could be affected. RBS would probably keep some operations in Singapore offering clients dollar, euro and yen fixed-income products.