Intended Sale by Coutts

RNS Number : 7007Z

Royal Bank of Scotland Group PLC

20 March 2012

 

THE ROYAL BANK OF SCOTLAND GROUP PLC - SALE OF COUTTS' LATIN AMERICAN, CARIBBEAN AND AFRICAN BUSINESS

The Royal Bank of Scotland Group plc ("RBS") today announced the intended sale by Coutts, its Wealth Management Division, of its Latin American, Caribbean and African private banking business to Royal Bank of Canada (RBC Wealth Management).

The business manages approximately £1.5 billion of assets on behalf of clients located across the three regions.

RBC Wealth Management is committed to growing its business in these markets and clients will continue to experience an excellent level of service.

This intended sale is in line with Coutts' strategy to focus its growth on key geographies which include the UK, Switzerland, Russia/CIS, the Middle East and selected markets in Asia. 

For further information:  

Richard O'Connor

Investor Relations 

[phone]

Group Media Centre

Tel: [phone]  

 

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