DUBAI -- Royal Bank of Scotland Group PLC is considering selling
its corporate loan book in the Middle East, according to a person
familiar with the matter, as the U.K. lender looks to focus more on
its domestic market.
The bank has enlisted PwC Middle East to review the business,
the person familiar with the plan added.
If the U.K. bank does go ahead with the disposal it would mark
another step in its retrenchment from the region. In 2010, the bank
sold its retail banking operations in the United Arab Emirates to a
local lender.
Other U.K. banks have also been scaling down in the Middle East.
Barclays earlier this year sold its retail operations to an Abu
Dhabi-based bank.
A spokeswoman for RBS said part of the strategy outlined by the
bank's Global Chief Executive Officer Ross McEwan was to make the
bank "a smaller, simpler and more U.K.-centric bank, focusing on
where our customers need us most."
She added that RBS is "looking at options across our CEEMEA
network" but that no decision had been taken so far.
Write to Nicolas Parasie at Nicolas.parasie@wsj.com
Subscribe to WSJ: http://online.wsj.com?mod=djnwires