Royal Bank of Scotland

Royal Bank of Scotland grew into one of the world’s biggest banking groups through aggressive acquisitions, but overstretched itself when it tried to buy Dutch banking giant ABN Amro in 2007. The British government pumped 45 billion pounds (US$73 billion) into RBS to keep it afloat in 2008, leaving it 82 per cent state-owned. As of November 2012, the taxpayer faced a loss of 19 billion pounds on the investment.

Royal Bank of Scotland is reviewing its global presence as it seeks to rebuild its reputation after a massive government bailout following the global financial crisis. Photo: Bloomberg

Royal Bank of Scotland to pull out of Middle East and Africa

Royal Bank of Scotland (RBS) plans to sell or close its corporate debt and debt capital markets business in the Middle East and Africa, the latest pullback by the state-controlled British lender from emerging markets to focus on its domestic business.

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