Login or request a free trial

RBS branch sale may take 18 months

The sale by RBS in Britain of 318 branches and a list of around 240,000 customers may take until the end of 2011 to complete, and could drag out into early 2012.RBS last night announced terms for the sale of a slice of its business to Spain's Santander, as expected.Santander will pay £1.65 billion to RBS for a business with net assets of £1.3 billion, or around 1.3 times net assets.National Australia Bank was one of half a dozen bidders in the early stage of the sale process but dropped out of the running in early June.

I'm a returning subscriber

Password reset
Login

Request a free trial

  • Emailing you the news at 7am.
  • Covering core lending and funding issues, strategy, payments, regulation, risk management, IT, marketing and more.
  • Original news and summaries of major stories from other media – ditch your newspaper subscriptions.
  • Focused on banking and finance, saving you the time spent wading through newspapers and other services.
  • With reporting from former editors and senior writers from the AFR and The Australian.
  • Configured for your phone, laptop and PC.
Free trial Banking Day