RBS ready to exit local market, media says

After five years of crisis, the state-owned British group RBS – Royal Bank of Scotland is preparing to sell the one remaining Romanian branch. The PwC consultancy company has been hired to find a bank that can take over the multinational’s client portfolio, Ziarul Financiar reports, citing market sources. The RBS branch has an insignificant market share following last year’s sale of retail business and a large part of non-performing corporate loans. Also last year, RBS concluded an agreement transferring its retail portfolio to UniCredit Tiriac Bank and traded a significant share of non-performing corporate loans, which resulted in a visible contraction in the company’s balance sheet, demoting it from the first 20 banks on the market. Officially, the representatives of RBS claim the strategic business options concerning Romania are being re-evaluated.

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