Emirates NBD, Mashreq eye RBS retail ops in UAE

Dubai-based Emirates NBD and Mashreq Bank are eyeing the retail operations of Royal Bank of Scotland in the United Arab Emirates. "RBS is in ongoing discussions for the remaining retail and SME assets it has decided to sell in Asia, and we will not be making any further comment at this stage," said Karim Beg, head of consumer finance and marketing at RBS in an e-mailed statement to Emirates Business 24-7.

Emirates Business 24-7 reported that last week, Emirates NBD Chief Executive Rick Pudner had said his bank was interested in RBS's retail operations in the UAE."We are looking at that option positively. We have not yet made the bid, but I don't want to rule out the possibility," Pudner had told the newspaper.Executives at Emirates NBD and RBS were not immediately available for comment.