RBS says in talks with buyer for Colombia unit

By IBTimes Staff Reporter | February 15 2010 1:21 PM

LONDON - Britain's Royal Bank of Scotland is in talks with a potential buyer for its Colombian operations, as it pushes ahead with plans to refocus on core businesses by selling off unwanted assets inherited from ABN AMRO.

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We are in discussions with a potential buyer of our Colombian operations. However, due to the confidential nature of the discussions we will not be commenting further, an RBS spokeswoman said on Monday.

RBS, which has mainly investment banking operations in Colombia, does not breakdown income from the unit.

Sky News reported RBS was holding talks with Bank of Nova Scotia, Canada's No. 3 bank, over the Colombian bank. The Canadian bank was not available for comment.

Scotiabank is Canada's most international bank, with operations in Latin America, the Caribbean and parts of Asia.

(Reporting by Clara Ferreira-Marques; Editing by Dan Lalor)

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