RBS N.V. Agrees Sale of Argen

RNS Number : 5794N

Royal Bank of Scotland Group PLC

14 June 2010

 

14 June 2010

The Royal Bank of Scotland Group plc

Royal Bank of Scotland N.V. Agrees Sale of Argentinean business

RBS N.V. has announced today that it has reached an agreement to sell the business of its Argentinean branch to Banco Comafi S.A..

The transaction is subject to regulatory approvals and is due to complete in H1 2011. The consideration will be paid in cash and is not material to RBS overall.

This sale follows the agreed sale of the RBS Colombia business to Scotiabank and the sale of the offshore loan book covering assets from Argentina, Chile and Venezuela, demonstrating good progress against our strategic plan.

RBS will continue to have a footprint in Latin America focused in Mexico and Brazil.

Richard O'Connor

Investor Relations 

[phone]

Group Media Centre

Tel: [phone]

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