RBS sells derivatives units to BNP Paribas
LONDON Feb 19 (Reuters) - State-backed Royal Bank of Scotland said it had sold some structured retail investor products and equity derivatives businesses to France's BNP Paribas as it continues to shrink its investment bank.
RBS said on Wednesday the consideration was not material but the deal would transfer the management of up to 15 billion pounds ($25 billion) of liabilities.
The deal will include some associated market-making activities and is expected to take place on a phased basis over the next two years.
- Malaysian plane presumed crashed; questions over false IDs |
- China draws 'red line' on North Korea, says won't allow war on peninsula
- Warning shots fired to turn monitors back from Crimea |
- Libya threatens to bomb North Korean tanker if it ships oil from rebel port