RBS says to exit corporate debt, DCM business in Mideast, Africa - CNBC Africa

RBS says to exit corporate debt, DCM business in Mideast, Africa

Special Report

by Reuters 0

The Royal Bank of Scotland will exit its corporate debt business in Africa. PHOTO: telegraph.co.uk

This is according to a statement from the British lender on Thursday.

“Part of the strategy set out by Ross McEwan in February 2014 was to make RBS a smaller, more focussed bank. As part of that strategy, we have taken the decision to exit our corporate debt and debt capital markets business in the Middle East and Africa,” the statement said.

In November, the bank said it was reviewing its options across its Central and Eastern Europe, Middle East and Africa network.

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