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RBS to split assets - could we see similar here?

  • 26-02-2009 4:27pm
    #1
    thebman
    Closed Accounts Posts: 10,012 ✭✭✭✭


    Reports say Royal Bank of Scotland will sell assets worth 300 billion pounds Print E-mail
    Sunday, 22 February 2009

    LONDON - The Royal Bank of Scotland Group PLC plans to put about 300 billion pounds, or $430 billion US, worth of unwanted assets on the chopping block, reports said Sunday, vastly scaling back the bank's presence abroad.


    The Sunday Telegraph said RBS would work to divest itself of the assets, such as the Asian and Australian units it acquired through the purchase of ABN Amro, over the next five years. The paper said some mortgages and lending assets held by the Charter One bank in the United States were also slated for sale.


    The Sunday Times said the restructuring would eventually lead to loss of 20,000 jobs, or around a tenth of the bank's global work force, and save more than 1 billion pounds a year.


    The Edinburgh, Scotland-based bank declined comment Sunday.

    More on link below:
    http://www.medicinehatnews.com/content/view/76087/68/

    I don't know if we could see similar here or if it would have an affect at all or is applicable to our banks situation so I thought I'd ask people who might. What do you all think?


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