RBS Considers Selling Middle East Loan Book, Hires PwC--Source

Royal Bank of Scotland Group PLC is considering selling its corporate loan book in the Middle East, according to a person familiar with the matter, as the U.K. lender looks to focus more on its domestic market.

The bank has enlisted PwC Middle East to review the business, the person familiar with the plan added.

If the U.K. bank does go ahead with the disposal it would mark another step in its retrenchment from the region. In 2010, the bank sold its retail banking operations in the United Arab Emirates to a local lender.

Other U.K. banks have also been scaling down in the Middle East. Barclays earlier this year sold its retail operations to an Abu Dhabi-based bank.

A spokeswoman for RBS said part of the strategy outlined by the bank's Global Chief Executive Officer Ross McEwan was to make the bank "a smaller, simpler and more U.K.-centric bank, focusing on where our customers need us most."

She added that RBS is "looking at options across our CEEMEA network" but that no decision had been taken so far.

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