CTBC Financial Holding is to buy the assets of Royal Bank of Scotland (RBS) Berhad, a subsidiary of RBS in Malaysia, for around TWD 6.1bn ($188m), marking the first time a Taiwanese bank has tried to obtain a license to operate a financial subsidiary in Malaysia. CTBC Bank is to also spend 2015 ($123m) to acquire RBS's offshore banking unit in Labuan, Malaysia. This move by RBS is part of its ongoing plan to retreat from the overseas market.
CTBC Financial Holding is to buy the assets of Royal Bank of Scotland (RBS) Berhad, a subsidiary of RBS in Malaysia, for around TWD 6.1bn ($188m), marking the first time a Taiwanese bank has tried to obtain a license to operate a financial subsidiary in Malaysia. CTBC Bank is to also spend TWD 3.98bn ($123m) to acquire RBS's offshore banking unit in Labuan, Malaysia. This move by RBS is part of its ongoing plan to retreat from the overseas market.