RBS is not however planning to operate on the Romanian retail banking market, according to the bank's Communication Manager, Carolyn McAdam, for Business Standard. "The license we have been granted by the Romanian National Bank (BNR) allows us to take over operations that part of our clients have in your country, especially operations related to the capital market and offsetting," McAdam added.
It is likely that RBS operations in Romania will be similar to those in Russia, through a financial institution, in the latter case Renaissance Capital.
Royal Bank of Scotland became famous in 2000, after purchasing a bank twice its size, National Westminster plc. The banking transaction, worth Ł33 billion (some €24 billion), is the largest ever in the United Kingdom. This January, BNR granted the Royal Bank of Scotland a license for consultancy services, mergers and acquisitions, and equities issues through subscriptions and placements.
RBS is currently leading a consortium targeting the purchase of Dutch ABN Amro bank, for some €71 billion. The Dutch bank has already agreed to a takeover offer from British banking group Barclays.
The Scottish banks's income amounted to €12.3 billion in 2006, a 14 percent year-on-year increase.
"The license we have been granted by BNR allows us to take over operations that part of our clients have in your country Carolyn McAdam communication manager, RBS
