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RBS winds down Greek business, sells shipping loans portfolio

Move is part of wider strategy to shrink parts of international business, scale back non-core activities

Published Sun, Jul 12, 2015 · 09:50 PM
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London

ROYAL Bank of Scotland (RBS) is winding down its Greek operation and is putting its US$5 billion shipping loans portfolio up for sale as the group scales back non-core activities, finance sources familiar with the plans said last Friday.

The move, part of a wider strategy by RBS to shrink parts of its international business, comes as Greek Prime Minister Alexis Tsipras makes a last ditch effort to secure a bailout from international creditors and prevent a financial meltdown in the country.

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