Royal Bank of Scotland (RBS) has drafted in advisers to pilot a sale of a $4.34bn shipping finance operation that will further distance the lender from its globe-trotting past.
Sky News reports that they understand that RBS is working with bankers at Lazard to examine options for the shipping loans, which could be run off, sold or hived off in chunks to potential buyers.
The bulk of the business under review relates to RBS’s shipping finance business in Greece, and an exit will mark another chapter in the bank's international retrenchment since its $65.1bn bail-out by taxpayers in 2008.
RBS has already exited dozens of countries and is continuing to take steps to shrink its vast balance sheet, which now stands at roughly $1.01trn
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RBS To Cast Off £3bn Shipping Loan Book
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