HSBC buys certain activities of RBS in India
HSBC Holdings announced the acquisition of the retail banking and commercial banking at Royal Bank of Scotland in India, the British bank nationalized virtually continuing its withdrawal from foreign markets.
HSBC announced it would pay a premium of up to $ 95 million (75.8 million) compared to the net asset activity during the closing of the transaction, expected to first half of next year.
The price could be reduced in cases of increased bad debt during the next two years.
Sources had previously said qu'HSBC redeem these activities, which have 1.1 million customers, more than 1,800 employees and 31 divisions in India.The gross value of these assets were worth $ 1.8 billion at end March.
Currently, HSBC has about two million customers and 50 divisions in 29 Indian cities.
RBS, owned 83% by the British government, seeks to refocus on its core business and sold off in recent weeks some of his small business.
The group puts an end to a decade of international development, raising over 2.5 billion dollars by withdrawing more than twenty activities over the past 14 months.