ABN Amro Bank in Pakistan was recently acquired by the Royal Bank of Scotland. Yesterday the news appeared that RBS was in serious financial trouble for which it has sought help from government treasury in UK. Will it have some effect on the working of RBS in Pakistan as well? There are rumors that some banks may collapse. It now seems that it may not be a rumor after all. If RBS is seeking government help for a whopping 20bn pounds, this means that not everything is right with the bank. Its chief executive has also resigned.
I hope that this financial crisis ends soon. It is having a devastating effect upon the economies the world over. If no solution is found soon it will wipe out many big institutions.
ABN Amro Bank in Pakistan was recently acquired by the Royal Bank of Scotland. Yesterday the news appeared that RBS was in serious financial trouble for which it has sought help from government treasury in UK. Will it have some effect on the working of RBS in Pakistan as well? There are rumors that some banks may collapse. It now seems that it may not be a rumor after all. If RBS is seeking government help for a whopping 20bn pounds, this means that not everything is right with the bank. Its chief executive has also resigned.
I hope that this financial crisis ends soon. It is having a devastating effect upon the economies the world over. If no solution is found soon it will wipe out many big institutions.
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