UK banks are rapidly withdrawing from far-flung overseas businesses and other divisions considered superfluous to their strategies, says the FT. Lloyds Banking Group has appointed Rothschild to help sell its Middle East operations as part of its previously stated intention to rein in its lossmaking international division. Lloyds has only one branch in the United Arab Emirates – in Dubai – but manages about £1bn ($1.5bn) of assets across the region, including a slice of the expat community and local retail and commercial customers. RBS, meanwhile, is hoping to step up its withdrawal from non-core businesses with the long-awaited sale of its aircraft leasing business for $7bn to $8bn. China Development Bank and Sumitomo Mitsui Financial Group are the leading bidders although Wells Fargo is also still in the running.