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Published: Monday September 24, 2012 MYT 12:29:00 PM
CIMB Bank eyes opportunities in India
By Choong En Han
KUALA LUMPUR: CIMB Bank Bhd is eyeing opportunities in India after the proposed acquisition of The Royal Bank of Scotland's (RBS) operations was cancelled.
"Yes, we are still looking for opportunities. We have started to hire bodies to acquire a stockbroking licence," said CIMB Group Holdings Bhd's group chief executive Datuk Seri Nazir Razak at the CIMB ASEAN SME Forum 2012 on Monday.
In July, CIMB Group announced that it will exclude RBS' Indian operations from its earlier sale and purchase agreement for RBS' various Asia Pacific cash equities and investment banking businesses.
CIMB said the termination of the proposed sale of RBS' Indian operations was caused by an unexpected legal issue, which arose in connection with the sale of the Indian businesses by RBS.
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