RBS Asia to be sold in chunks

ROYAL Bank of Scotland’s Asian assets look set to be divided up between Standard Chartered and Australia’s ANZ, despite the bank’s desire to offload the unit in one go.

Standard Chartered, led by chief executive Peter Sands, is in talks to wrap up a deal for RBS’ units in China and India and is also looking at the bank’s Malaysian operations.

ANZ, which raised 2.5bn (£1.23bn) Australian dollars in May to fund acquisitions, looks set to snap up RBS Asia’s remaining businesses in Singapore, Hong Kong, Taiwan, Vietnam and Indonesia.