IndusInd, YES Bank To Acquire Retail Assets Of RBS
Yes Bank and IndusInd Bank are planning to acquire retail assets of RBS in India.
The move is in line with YES Bank’s strategy to expand its retail banking business aggressively. The bank recently roped in Pralay Mondal from HDFC Bank to oversee its retail banking operations.
Last November, RBS failed to close a deal involving sale of its India retail assets to HSBC.
RBS has 31 branches in India which it received as part of a three-bank consortium that acquired Dutch bank ABN Amro in 2007. India represents a small part of RBS' global business, accounting for just 0.02% of group assets and about half a percent of its non-core business.
The bank has a deposit base of R130.40 Bn and a loan book of R125.35 Bn with bad loans of 0.74% of the advances as of March 2012.
In the past few years, RBS has shrunk both deposits and advances in the country, as it had been preparing to sell part of its India business.
Started in 1994 and founded by Hinduja Family, IBL has a network of over 421 branches and 735 ATMs spread across 288 locations across India. IBL also has a Representative Office each in Dubai and London.
Recently, the bank raised R2000 Cr through QIP. The banks issued 5,21,00,000 shares at R384 per share.
Yes Bank recently raised $150 Mn and Euro 50 Mn through a dual currency syndicated loan facility for one year for general corporate purposes and trade finance.
Yes Bank also entered into new areas of retail lending in recent months. It entered into a partnership with American Express Banking Corporation to sell co-branded credit cards to high-networth clients.
As on June’12, Yes bank has a network of 381 branches and 642 ATMs.
In this space, Standrad Chartered Bank is planning to acquire retail assets of Barclays Bank. The bank (Barclays) has put on block its mortgage, loan against property, personal loan and commercial banking assets of around R3,000 Cr.
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KVEZAR VIEW
| Date | Transaction | Type | Buyer | Size ($mn) |
|---|---|---|---|---|
| 2013-01-15 | Royal Bank Of Scotland (Exit) - Retail Assets - Yes Bank, IndusInd Bnak | M&A |
IndusInd Bank Limited Yes Bank Limited |
- |
| 2012-06-26 | Barclays Retail Assets - Barclays Plc (Exit) | M&A | - |
| Date | Type | Buyer | Target | Size ($mn) | State |
|---|---|---|---|---|---|
| 10/05/2013 | Private Equity | Piramal Group | Shriram Transport Finance Company Limited | 304.57 | Completed |
| 22/03/2013 | M&A | Quadria Capital Investment Management | Milestone Religare Investment Advisors | - | Completed |
| 06/02/2013 | M&A | Kotak Mahindra Bank Limited | Barclays India (Business Loans) | - | Completed |
| 24/01/2013 | M&A | Exide Industries Limited | ING Vysya Life Insurance Company Limited | 102.29 | Completed |
Company | ||||
| Name | Promoters | Office | Competitor | Website |
|---|---|---|---|---|
| Yes Bank Limited | Rana Kapoor | 9th Floor,Nehru Centre, Discovery Of India, Dr.Annie Besant Road,Worli |
State Bank of India IndusInd Bank Limited ING Vysya Bank Limited Kotak Mahindra Bank Limited |
www.yesbank.in |
| IndusInd Bank Limited | Indusind International Holdings Limited | 2401, Gen Thimmayya Road (Contonment) |
IDBI Bank Limited Yes Bank ICICI Bank HDFC Bank Limited Yes Bank Limited |
www.indusind.com |
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