17 Jun 2010 15:08
17 June 2010
The Royal Bank of Scotland Group plc - Disposal of Retail Business in Kazakhstan
RBS announces sale of RBS Retail Business in Kazakhstan
The Royal Bank of Scotland Group plc ("RBS") has agreed the sale of its retail business in Kazakhstan to HSBC for a maximum consideration of up to $52 million in cash.
The transaction is subject to regulatory and other approvals and expected to complete on 1 September 2010.
The sale represents further progress against RBS' five-year strategic plan. RBS will continue to have a significant presence in Kazakhstan, focused on the corporate and investment banking franchise.
Richard O'Connor
Investor Relations
+44 (0) 20 7672 1758
Group Media Centre
Tel: +44 (0) 131 626 3997