Dubai: Emirates NBD is planning to acquire the retail banking network of the Royal Bank of Scotland (RBS) in the UAE, including the British bank's branches and ATMs across the country, a bank spokesperson told Gulf News on Tuesday.
"We're looking to buy around eight retail units, plus ATMs and networks" Sanjay Uppal, Emirates NBD's chief financial officer was quoted by Zawya Dow Jones.
The deal is expected to be completed in a few months. RBS officials were not available for comments.
RBS is selling its UAE retail assets as part of a global plan announced in February last year to exit some businesses including those in Asia.
In mid-2008, Emirates NBD had shown interest in buying the 40 per cent stake in Saudi Hollandi bank in Saudi Arabia from RBS. However no deal was reached.
