RBS Still In Talks With All Parties On Asia Operations

Royal Bank of Scotland Group PLC (RBS) is still in talks with all parties which have shown interest in its Asian retail and commercial banking operations, a person familiar with the matter said Wednesday.

The talks continue with Australia and New Zealand Banking Group Ltd. (ANZ.AU), HSBC Holdings PLC (HBC) and Standard Chartered PLC (STAN.LN), the person said, noting even if not all parties had submitted bids yet, it didn't mean talks had been broken off.

Earlier, another person familiar with the transaction said HSBC hadn't submitted a bid for the businesses in Asia which RBS has put up for sale.

Other media also reported Standard Chartered hadn't submitted a bid.

ANZ earlier Wednesday said it is raising A$2.85 billion ($1.96 billion) to help fund its bid for "some" of RBS' Asian assets. It didn't specify which assets it would bid for.

The businesses for sale are in India, Pakistan, China, Taiwan, Hong Kong, Indonesia, Malaysia and Singapore and include affluent banking, cards and consumer finance, business banking and international wealth management. They have a combined book value of GBP300 million.

Company Web site: www.rbs.com

-By Ragnhild Kjetland, Dow Jones Newswires; +44 207 842 9268; ragnhild.kjetland@dowjones.com (Vladimir Guevarra contributed to this item.)

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