RBS portfolio sale to BNP Paribas awaits EC approval

BNP Paribas awaits competition clearance

Handshake in London

Agreement between Royal Bank of Scotland (RBS) and BNP Paribas about the sale of retail structured products was reached on February 19, and only approval from the European Commission's competition directorate now stands between the deal and completion. That approval is expected in the second half of this year. The mandate was first reported by Structured Products on November 14, 2013. The £15 billion disposal of "certain" assets and liabilities related to RBS's structured retail investo