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Source: Press Release, March 10, 2009
RBS has had a presence in Malaysia since 1888 and has built up a strong global markets franchise with a growing GTS business. The result of the Group’s strategic review announced last Thursday was a reaffirmation of the Bank’s commitment to these businesses in Malaysia. We will continue to serve our Corporate and Institutional clients providing world class solutions in the global markets and transactional banking space.
However, in parallel with this, RBS also announced that it was to review options, including a potential sale, of its Retail business across AsiaPacific which also has a presence here in Malaysia. Our priority for our retail customers and staff will be to ensure minimum disruption during this period and to remove uncertainty for them just as quickly as we can.
RBS continues to enjoy an A+ rating from S&P and Aa3 from Moody's recognising a stable outlook for the Group as a result of the support from the UK Government for our balance sheet, which our clients can take comfort from. We remain grateful for the opportunity this has given us to restructure our business to return it to standalone financial strength.
Harry Naysmith
Managing Director
The Royal Bank of Scotland Berhad
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