Royal Bank of Scotland to acquire Mizuho Bank from Mizuho Financial Group.

Royal Bank of Scotland has acquired Mizuho Bank, a banking services provider and a wholly-owned subsidiary of Mizuho Financial Group. Financial terms were not disclosed. The loan portfolio purchase and expected acquisition of select related capabilities will significantly expand the depth and breadth of Mizuho’s client relationships and product offerings in North America, building on the solid foundation established over the last several years as a more dynamic corporate and investment banking provider in the Americas. This transformational transaction further accelerates the expansion of Mizuho’s corporate and investment banking activities in North America and is consistent with its long-term commitment to the North America market and to providing clients with outstanding service and support.