Royal Bank of Scotland Group Plc (RBS.L,RBS) is reportedly to shut down certain operations in South Korea, Indonesia and Singapore after failing to find a buyer for the businesses, thereby affecting 70 people as part of moves to cut the size of its investment bank. The U.K. lender would begin closing the cash equities, equity capital markets and corporate finance units in Korea, as well as the cash equities operations in Indonesia and Singapore, Yuk Min Hui, according to the media reports.
Reports also added that RBS would continue to operate its debt financing, transaction services and risk-management businesses in Korea, Indonesia, Singapore and eight other Asia-Pacific countries. In January, RBS said it would axe about 3,500 jobs over three years, split between its UK and non-UK locations.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.