Sky News reported that the Royal Bank of Scotland has enlisted KPMG to auction the offshore assets of its Lombard asset finance group in a sale expected to deliver £200 million ($265.4 million).
According to Sky News, the sale was prompted by new regulations aimed at dismantling the UK’s largest banks.
Sky News indicated that analysts expect Investec and Secure Trust Bank to show an interest in the Lombard sale.
Like this story? Begin each business day with news you need to know! Register now for FREE Daily E-News Broadcast and start YOUR day informed!