(MENAFN- AFP) State-controlled Royal Bank of Scotland is looking to sell the international operations of its private bank Coutts, which counts Queen Elizabeth II among its clients, according to reports on Tuesday.
RBS will however keep Coutts' British arm following a deal for the international unit that could be worth about £500 million ($838 million, 627 million euros), the Financial Times newspaper said. The BBC put the potential proceeds at around £600 million.
A sale would be in line with RBS's strategy of scaling back its international operations following a huge bailout of the bank in the wake of the 2008 financial crisis.
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