RBS bidding for Tesco's £3.7B mortgage book - report

Friday, 21. June 2019 16:22

The Royal Bank of Scotland (RBS) is looking to acquire Tesco Bank's £3.7 billion book of mortgages, Sky News reported on Friday.

The state-backed RBS is one of the bidders for the supermarket's home-loan portfolio which the company decided to sell last month as it looks to exit the United Kingdom's mortgage market.

If successful, this will mark the biggest acquisition RBS made since the 2008 government bailout which cost the taxpayers £45.5 billion. At the time, the bank was forbidden from making any corporate purchases until it fulfilled a number of conditions.

Related Links: Tesco plcRoyal Bank of Scotland Group plc
Breaking the News / MD