Singapore’s DBS Group is, reportedly, in talks with French lender Societe Generale to jointly bid for RBS’s international private-banking operations, which is up for sale.
If successful, the bid will see DBS acquiring Coutts International’s Asian operations while Societe Generale would take over the rest of the business, reported Bloomberg.
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The deal is expected to fetch between $600m and $900m to Coutts International.
DBS is private banking seeking acquisitions to boost presence in the Southeast Asian region.
Last month, DBS was keen on buying Coutts International, the non-UK private banking business of the Royal Bank of Scotland (RBS).
DBS spokeswoman Edna Koh and Societe Generale spokesman Jolyon Barthorpe declined to comment.
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