Indian lender Yes Bank Limited (BOM:532648) has not yet carried out due diligence on a potential takeover of the local retail banking activities of Royal Bank of Scotland Group Plc (LON:RBS), but would like to buy the assets, the CEO Rana Kapoor told reporters today.
According to the executive, Yes Bank would seek to purchase retail banking assets under its growth strategy and would be receptive to an opportunity to grow its retail business.
Yesterday, an insider told Reuters that Yes Bank was negotiating the potential purchase of RBS’ retaiul and commercial banking operations and could begin due diligence soon. Earlier, the Economic Times reported that Yes Bank and local competitor IndusInd Bank Limited (BOM:532187) were holding discussions in connection with the acquisition of these assets.
However, IndusInd’s COO Paul Abraham told Reuters the lender was not interested in such transaction.