Malaysians to pay £31m for RBS arm

Malaysia’s second-biggest lender, CIMB Group Holdings, is poised to buy Royal Bank of Scotland’s Australian equity operations for some $50 million (£31m), according to local media reports.

One source was quoted yesterday as saying: “The figure is less than $100m. From what I understand, it should be $50m.”

Reports earlier this month suggested that CIMB and China International Capital were the remaining bidders for RBS’s Asian equities, mergers and acquisitions (M&A) and research businesses. The group is in the process of slimming down its investment banking operations.