Malaysia's CIMB Bank still bullish on India

CIMB Bank is still eyeing opportunities in India despite the cancellation of its proposed acquisition of RBS operations in India.

CIMB said the termination of the proposed sale of The Royal Bank of Scotland Indian operations was caused by an unexpected legal issue, which arose in connection with the sale of the Indian businesses by RBS.

"Yes, we are still looking for opportunities. We have started to hire bodies to acquire a stockbroking licence," said CIMB Group Holdings Bhd's group chief executive Datuk Seri Nazir Razak.

CIMB Bank has hired 40 personnel to initiate the build-out of its investment banking and cash equities businesses in India.

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