RBS to shut some businesses in Korea, Indonesia and Singapore

The UK bank's cash equities businesses in these three countries and the ECM and corporate finance operations in Korea will not be part of a potential sale to CIMB and will be wound down.

RBS to shut some businesses in Korea, Indonesia and Singapore
RBS: closing down businesses in Indonesia, Singapore and South Korea

While it is still in negotiations with CIMB about a sale of part of its wholesale businesses in Asia-Pacific, Royal Bank of Scotland yesterday told staff and clients that some of the businesses in question will not be included in a potential sale to the Malaysian bank and will be closed down.

Specifically, this refers to the cash equities, equity capital markets ECM and corporate finance divisions in South Korea, and the cash equities businesses...

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