Ratnakar Bank to buy Assets of RBS in India

Ratnakar Bank to buy Assets of RBS in India:One of the Private Bank  Ratnakar Bank has decided to buy some of the asssets of  Royal Bank of Scotland’s (RBS) on Friday according to the agreement Credit cards,Business bankig and mortgage are part. however Ratnakar Bank did reveal any information regarding price of the deal,this deal supposed to be approved
by Competition Commission of India(CCI).

Some of the private bank from India like  IndusInd Bank and YES Bank were also interested to buy the  business
in Novermber 2012. Due to the failure of RBS involvement in commercial banking assets and retail India to
 Hongkong and Shanghai Banking Corporation (HSBC)this siutaion is happening.
In 2012 the transaction was ended between  Between RBS and HSBC.
RBS had revealed about its operstion in India the  retail and commercial banking operations accounted
for less than 0.5 per cent of its rest of non-core assets.

Ratnakar Bank deal consists  with RBS is,  Over 120,000 customers of RBS India will bank with Ratnakar,
Ratnakar Bank to absorb RBS’ employees involved in three(Credit cards,Business bankig and mortgage) businesses. The transaction does not involve transfer of RBS’ India branches.Ratnakar Bank present have around 1,900 employees.

Rajeev Ahuja head of strategy and markets said “We are happy to acquire this business as it fits very well with our growth strategy,” He add this deal will help to improve the existing business of Ratnakar Bank

The Ratnaka Bank is planning to improve its various deposits like current and saving account as RBS having huge amount of current accounts in India. In coming next few week all  the foreign customers can access  131 branches of Ratnaka Bank  with all existing services. Ratnakar Bank is also planning capital for this deal from its internal accruals. Currently the Bank have Rs.324 crore capital from global and domestic investors in April 2013. After this deal RBS is supposed to maintain  its operation  in 10 location only by end of 2013. Howaver  this deal will not impact on RBS's corporate and institutional business and will continue in financing, wholesale and investment banking,
risk management,  cash, payments, trade finance and a comprehensive range of wealth management solutions to its clients,

This one of the postive acquisition for Indian Private banking sector with help of this deal Ratnakar Bank will improve its serices to all of their customers across the all branches.