Commercial Bank of Dubai (CBD) has agreed to acquire around Dh3 billion ($816.8 million) of corporate loans from Royal Bank of Scotland, the Dubai-based lender said on Wednesday.
The portfolio of loans was mostly to large United A
Lloyds Banking Group and Natixis have sold their holdings in debt of Dubai World, the state-owned conglomerate nearing a $14.6 billion debt restructuring, according to sources familiar with the matter.
Royal Bank of Scotland (RBS)
Royal Bank of Scotland (RBS) will shrink investment banking operations drastically, pulling out of 25 countries across Europe, Asia and the Middle East and allowing the state-controlled lender to refocus on lending in Britain.
Fintellix, a leading compliance, risk and analytics products and solutions provider for the global financial sector, is planning to expand its geographic footprint to the GCC.
Fintellix, formerly known as iCreate, is operationalis
Royal Bank of Scotland (RBS) plans to sell or close its corporate debt and debt capital markets business in the Middle East and Africa, the latest pullback by the state-controlled lender from emerging markets to focus on its domestic business.
Global regulators imposed penalties totalling $3.4 billion on five major banks, including UBS, HSBC and Citigroup, on Wednesday for failing to stop their traders from trying to manipulate foreign exchange markets.
Royal Bank of Sc
Royal Bank of Scotland is selling the international arm of its private bank in a deal that could be valued around $1 billion, sources said on Monday, as the British government leans on it to focus more on domestic lending.
Qatar's financial regulator has reprimanded Royal Bank of Scotland for insufficient training of its branch staff, it said on Tuesday.
"Although RBS QFC had a programme in place, it was deficient in a number of material re
The Royal Bank of Scotland (RBS) has been approved to issue letters of credit (LCs) for trading on DME, a leading energy futures and commodities exchange in the Middle East, directly from Singapore.
RBS will be able to issue LCs d
Royal Bank of Scotland will boost funding for its cash management and trade finance business in the Middle East, its top regional executive said on Tuesday, following a period of consolidation for the state-contr