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THE Royal Bank of Scotland Group (RBS) has rebranded
ABN AMRO Bank into Royal Bank of Scotland (Philippines), as the
lender expands its franchise in transaction services and investment
banking.
In a statement, John McCormick,
Global Banking and Markets chief executive for RBS in Asia Pacific
said the group has identified Asia as a growth engine with the
Philippines playing an important role.
“We are very excited about
growth opportunities in the Philippines and looking forward to
expanding our position in corporate finance advisory, structured and
leveraged finance,” he said.
RBS, which is Britain’s
second-largest lender, is integrating some of the ABN AMRO
businesses it acquired.
“Our global expertise as a
group combined with the local capabilities will further strengthen
our position in the Philippines,” McCormick said.
With the launch of RBS in the
Philippines, the bank also plans to launch its Global Transaction
Services business in the country, which is considered an important
market for the growth of RBS’ Asian franchise.
RBS Global Transaction Services
is ranked among the top five globally and recognized for its cash
management and trade finance products.
“As we become part of the Royal
Bank of Scotland, we are now able to offer our clients a larger
array of innovative products and an enhanced service platform,”
Billy Goguingco, country executive for the Philippines said in his
opening speech at the launch ceremony.
--Maricel E. Burgonio
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