The Royal Bank of Scotland Group plc (LSE:RBS) plans to sell or close its corporate debt and debt capital markets business in the Middle East and Africa, the latest pullback by the state-controlled lender from emerging markets to focus on its domestic business. "Part of the strategy set out by (Chief Executive) Ross McEwan in February 2014 was to make RBS a smaller, more focused bank. As part of that strategy, we have taken the decision to exit our corporate debt and debt capital markets business in the Middle East and Africa," RBS said in a statement on Thursday.
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