Royal Bank of Scotland (RBS) said it was not in talks with Bank of America (BofA) to try to resolve the purchase of LaSalle Bank, the US arm of ABN Amro which is a subject of dispute in a takeover battle for ABN.
Britain's second-biggest bank also said yesterday its consortium's proposed €71 billion takeover of ABN would result in about 19,000 job cuts, fewer than the 23,600 planned by Barclays under a rival offer. Both estimates exclude LaSalle, which the RBS consortium wants as part of its deal, but which ABN has agreed to sell to BofA.
RBS confirmed in a trading update that its first-half earnings should beat analysts' expectations. It said that its Irish unit, Ulster Bank, "continues to deliver good growth across the island of Ireland in both business and personal lending. We continue to invest in the expansion of our footprint and in the broadening of our project range."
But the bank said there had been no progress in reaching a compromise with BofA on the purchase of LaSalle.
"I don't see any particular urgency on the subject," chief executive Fred Goodwin said.
RBS and its partners last week launched a bid for ABN worth about 10 per cent more than an agreed Barclays offer.
