Thursday, February 26, 2009

British-Owned Malaysian Bank To Be Sold Off?

I have not heard of this bank before, The Royal Bank of Scotland, until it took over ABN AMRO Bank Berhad in Malaysia (and worldwide too) as part of the Fortis / RBS / Santander consortium in year 2007.

Now, the same bank in Britain has declared an annual loss of £24.14 billion (US$34.4 billion) for 2008 which has been regarded as the biggest in British corporate history. Yeah, worse than the Barings' collapse that involved only £1.3 billion.

Will it be hard for The Royal Bank of Scotland Berhad to convince their customers to stay with them after hearing about this humonguous loss.

Or will the Malaysian operation be reduced or sold off as it was indicated that out of 54 countries that they are in, 36 countries' operations would be affected. Is Malaysia one of the 36?

Reading: RBS reports record corporate loss - BBC News/Business
Tags: The Royal Bank of Scotland, The Royal Bank of Scotland Berhad, Barings' Collapse



Blogger Borneo Falcon said...

The RBS also pulling out of F1. Actually, RBS can be found almost everywhere in Scotland. I think it is their national pride.

27 February, 2009 20:45  
Blogger Johnny Ong said...

well, usa banks are the worst of the lot

01 March, 2009 15:23  
Anonymous Yatz said...

i also never heard of RBS until my friend told me the company he's working is maintaining RBS's IT system last


29 March, 2009 22:25  

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