<article><a style="color: #000080;" href="http://www.dealstreetasia.com/?s=DBS+Group+Holdings" target="_blank">DBS Group Holdings</a>, southeast Asia&#8217;s largest bank, and India&#8217;s <a style="color: #000080;" href="http://www.dealstreetasia.com/?s=IDFC+Bank" target="_blank">IDFC Bank</a> are among those preparing bids to buy India-based assets of the <a style="color: #000080;" href="http://www.dealstreetasia.com/?s=rbs" target="_blank">Royal Bank of Scotland</a>(RBS).</article>

<a style="color: #000080;" href="http://www.dealstreetasia.com/?s=DBS+Group+Holdings" target="_blank">DBS Group Holdings</a>, southeast Asia&#8217;s largest bank, and India&#8217;s <a style="color: #000080;" href="http://www.dealstreetasia.com/?s=IDFC+Bank" target="_blank">IDFC Bank</a> are among those preparing bids to buy India-based assets of the <a style="color: #000080;" href="http://www.dealstreetasia.com/?s=rbs" target="_blank">Royal Bank of Scotland</a>(RBS).
The banks plan to submit offers this week, said a Bloomberg report.
RBS had sold its offshore Indian loan assets in October, as part of chief executive Ross McEwan&#8217;s move to exit various countries and eliminate thousands of jobs to help return the bank, straddled with losses, to profitability.
RBS&#8217;s India-based assets comprise a balance sheet of $2.8 billion, the report said, referencing financial statements posted on its website.
The UK-based lender&#8217;s Indian operations had loaned funds to local units of American, European and Canadian companies, the report quoted an unnamed source as saying. RBS also has stakes in two non-bank financial institutions, which will also be up for sale. The winning bidder will be chosen in January, with the aim of completing the sale in the first half of 2016.
In September, it had announced selling of its private banking business in India to a company — <a style="color: #000080;" href="http://www.dealstreetasia.com/?s=Sanctum+Wealth+Management">Sanctum Wealth Management</a> — led by the head of its business, Shiv Gupta. That business was struggling, as did that of its competitors, as foreign wealth managers found that growing number of Indian millionaires did not translate into profits for banks that aggressively ramped up operations to manage their wealth.
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DBS Group Holdings, southeast Asia's largest bank, and India's IDFC Bank are among those preparing bids to buy India-based assets of RBS.

Singapore's DBS Group, IDFC Bank looking to bid for RBS' India assets

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Singapore's DBS Group, IDFC Bank looking to bid for RBS' India assets

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