RBS can sell credits for 8 billion dollars
25 August 2008Yesterday Financial Times (FT) has informed that the second-largest bank of Great Britain Royal Bank of Scotland (RBS) sells to funds of direct investments Apollo, TPG and Blackstone credits for 8 billion dollars. Bank’s mass-media representatives do not make comments on this information. Analysts mark, that the transaction can be a part of strategy of bank within the limits of which it from the beginning of year has reduced actives on 200 billion dollars.
According to FT sources, RBS sells a part of the credits portfolio for the repayment of the companies. Thus, according to Blackstone’s President buyers of credits can receive the 30 percent income on the transaction as the credits, which have fallen in price because of crisis. Investment division Blackstone GSO Capital is one of participants of the transaction, however, its concrete conditions while are unknown.
Thus if the transaction will prove to be true, it will become one more step in strategy of bank on reduction of the actives, which it realizes after purchase of Dutch bank ABN Amro.
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- HSBC’s income has increased despite of the mortgage crisis
- European banks disclose credit losses
