Retail Banking News Updates, May 9th 2012

Barclays offers US online savings acocunt
Barclays is moving into the US retail banking for the first time in decades, with the launch of an online savings account targeting US savers with an instant access account and longer-term cash products that pay interest rates of up to 1.75% for five-year deposits.

Bank of Ceylon to set up more branches abroad
Sri Lanka’s Bank of Ceylon is to increase its network of overseas branches this year with two new offices in the south Indian cities of Tuticorin and Coimbatore, and another one in Addu Attol, in southern Maldives.

RBI clears HSBC deal for RBS India’s retail operations
The Reserve Bank of India has cleared HSBC’s deal to purchase the Indian retail and commercial banking businesses of the Royal Bank of Scotland, giving HSBC access to the retail, small and medium enterprise businesses of RBS in India and a substantial portion of RBS’ 31 bank branches.

Re-disseminated by The Asian Banker