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PPI Claim News - 4/1/2010

PPI Charges: RBS drops sale proposal

The Royal Bank of Scotland Group (RBS) has abandoned plans to sell its Pakistan operations to MCB Bank, it has been announced.

Having failed to obtain regulatory approval, the deal, which was announced in August 2009, has fallen through.

The bank, which is majority-owned by British taxpayers, had stood to gain $87 million (£53.6 million) from the proposed deal.

According to Bloomberg, the failure of the sale was linked to a dispute over depositing shares as security, although Pakistan's State Bank refused to comment on the reasons for the transaction having lapsed.

Last week, it emerged that RBS was owed up to £500 million by Icelandic bank Glidnir, which folded in the 2008 financial crisis.

Royal Bank of Scotland Group also owns NatWest, Coutts and Ulster Bank, and will be required to sell off parts of its UK operations in order to boost competition in the retail banking sector.

If you would like to get your payment protection insurance back - PPI Claim from Royal Bank of Scotland then fill out the Quick Claim form or call Belmont Thornton on 0845 526 0000 for PPI claim adviceADNFCR-2776-ID-19537908-ADNFCR

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