KDB buys controlling stake in RBS’s Uzbek subsidiary

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KDB buys controlling stake in RBS’s Uzbek subsidiary

The state-run Korea Development Bank said yesterday it has acquired a controlling 82.35 percent stake in the Uzbek subsidiary of British Royal Bank of Scotland (RBS) for $16.5 million.

KDB will merge RBS Uz with its own affiliate UzKDB in a bid to bolster its corporate banking business in Central Asia, the Korean lender said in a statement.

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