Spain's Banco Santander wins EU approval to buy RBS assets - People's Daily Online: "Banco Santander of Spain has won approval from the European Union (EU) to buy a number of retail and commercial banking assets of the Royal Bank of Scotland Group (RBS) in Britain.
'The transaction would not significantly impede effective competition' in the European markets, said the European Commission, the EU's executive arm, in a statement on Friday.
The assets to be sold consist of RBS's branch-related retail and small and medium-sized enterprise (SME) business in England and Wales, the NatWest branch-related retail and SME business in Scotland along with certain mid-corporate customer accounts in Britain. There are in total approximately 300 branches and around 40 SME and business banking centers.
The divestment is part of the conditions set by the European Commission when it approved the British government's plan to bail out RBS in the wake of the 2008 financial crisis."
You Might Also Like :
0 comments:
Post a Comment