Royal Bank of Scotland on Friday said it will shut seven bank branches to consolidate its retail and commercialbanking business in the country. The winding down of the bank's retail and small and medium enterprises business was announced in November 2012.
The bank's retail and commercial banking assets could be to the tune of Rs3,000 crore. As a apart of the restructuring exercise the bank is also considering sale of these assets to some domestic and foreign banks. Romesh Sobti-led IndusInd BankBSE 1.61 %,Standard Chartered Bank and Axis BankBSE 0.20 % are among suitors. However, RBS has not offered any comment on the possible sale of assets.
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