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DBS, IDFC Bank bid for RBS’ Indian assets

Singapore’s DBS Group and IDFC Bank are among bidders for Royal Bank of Scotland’s Indian onshore assets. According to news reports, these two banks may submit their bids for the UK bank’s portfolio of loans and deposits in India. The bank had a balance sheet of Rs.19,000 crore and a loan book of Rs.11,100 crore in India. The bank had sold its offshore Indian loan assets in October and aims to complete the sale of its private banking business in the country in the first quarter of 2016. The bank had extended loans to Indian units of US, European and Canadian companies. It had also agreed to sell its Indian business that finances diamonds and jewelry, including about Rs.4,500 crore of loans, to IndusInd Bank.

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