Royal Bank of Scotland is set to retain the private banking unit of ABN Amro in India and Indonesia in a departure from the original deal agreed by the tripartite consortium - RBS, Fortis and Santander – when it acquired the Dutch bank last year.

Under the terms of the agreement, Belgian bank Fortis was to get ABN Amro’s private banking business, worldwide. But India and Indonesia have been excluded because Fortis does not have a banking licence in these countries.

Fortis will however get access into India when it assumes control of ABN Amro’s asset management company.

Confirming the move, ABN Amro executive vice-president and chief executive in India Meera Sanyal said: “Private banking in India and Indonesia will be a part of Royal Bank of Scotland. We are delighted that we will be able to offer uninterrupted services to our private banking clients.”

Under the consortium deal, RBS will get ABN Amro’s North American business, excluding ABN’s US banking operation LaSalle, which was sold to Bank of America. RBS will also get ABN’s European business, excluding some portions.

Fortis will get its operations in Netherlands, the global private banking business - excluding Latin America - and also the global asset management business.

Spain's Santander will acquire Italian bank Antonveneta, Dutch credit firms Interbank and DMC Consumer Finance, and most of the Latin American operations.

The three banks are awaiting permission of the Dutch regulator for the final deal to go through. Post-approval, the banks will approach individual regulators in respective countries.