Disposal

RNS Number : 3204J

Royal Bank of Scotland Group PLC

29 March 2010

 

The Royal Bank of Scotland Group plc - Disposal of RBS Factoring GmbH

Released 29-March-2010

RBS announces sale of RBS Factoring GmbH

29 March 2010 

The Royal Bank of Scotland Group plc ("RBS") has agreed the sale of RBS Factoring GmbH to GE Capital.

The transaction is subject to regulatory approval and expected to complete by Q3 2010.

RBS Factoring GmbH, which is the RBS factoring business in Germany, had gross assets of approximately €169 million as at 31 December 2009. As part of the Group's strategic plan, announced in February 2009, it was concluded that the assets would be better placed with a new owner outside of RBS.

The sale represents further progress against RBS' five-year strategic plan. RBS will continue to have a significant presence in Germany, focused on the growing corporate and institutional market, as well as general insurance.

Richard O'Connor 

Investor Relations 

[phone]

Group Media Centre

Tel: [phone]

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