James HesterRoyal Bank of Scotland (RBS) is to sell off loans worth £200m as it shuts it´s Lombard operations in the Channel Islands.
Sky News reported that RBS was looking to spin off the loan book as it elects to close its Lombard operations in Gibraltar, Guernsey and Jersey to new business.
The sale is thought to be at least partially linked to new ringfencing rules that come into play from 2019.
Ringfencing means larger UK banks must fully separate their consumer operations from investment banking divisions.
Over recent years, RBS has been pursuing a strategy to focus on retail and business banking functions.
Lombard is one of the UK´s most prominent asset finance companies.
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